Thanks!

I’m at 25k on savings, 3month emergency fund is 5k. Thanks!

> until 12/2023?

Btw for Roth IRA you have until tax day the following year to contribute. The money you're putting in is already taxed so it doesn't even matter if you've already filed your taxes.
Which means like right now, you can still contribute up to 6000 to 2022 Roth IRA until April 18, even if you already filed your taxes for 2022.
Then you can add up to 6500 for 2023 whenever you want from now until April 15 next year.
Just fyi

Don't forget it's your MAGI, not just your gross. So if your gross is say, $230k, and you're putting $20k into a Traditional 401k, your MAGI is going to be $210k or lower, which means no Roth IRA limit (assuming MFJ).

Otherwise yeah, re-characterization will allow you to fix it - just a bit more paperwork/process than normal.

Income limit is also based on modified AGI, so even if your raise is putting your salary above the limit you could still be eligible for Roth contributions.

I’d start a college fund, use room temp water for bottles, and remember it gets better. The first year or so can be a rough adjustment but I’d bet the guy who’s asking these questions now is going to be a good parent :). Good luck man/mam!

You cannot hold cash in a 401k so there's no taxable event, all funds must be invested in something

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Also nice to see you're willing to screw everyone over in your low cost of living area by coming in with your huge remote pay and buying whatever the hell house you want for whatever cost it is.

I'm glad companies are finally starting to adjust pay based on location. Maybe we'll stop seeing everyone run away from Seattle and the $700k homes to take their $200k salary to a place three hours away with $300k homes and then offer $100k over asking because the house is cute.

You want a fancy high paying job, go live in your fancy expensive city.

We’ve gotten so much name brand baby stuff for cheap or free on our Nextdoor app. I wish we would have done this sooner.

The expensive swing my wife bought? Baby used it for 6 months before absolutely refusing to be in it.

Same with clothes.. So many expensive outfits they grew out of after only wearing once or twice.

They asked, perhaps they are trying to figure out when they got scratched. If it wasn't you, you have no responsibility.

Utilization has an extremely minimal impact on your score. I wouldn’t worry about it.

Just throw it away. Karen’s gonna Karen

Maybe get a free rando number via Google voice and ask them to prove any damages? Ultimately—and I’m not endorsing being a scuzzball—if they can’t prove it and you’re sure you did nothing wrong, they can pound sand.

It's not a scam. My husband did it for like 2 years just for beer & fun money. The ones around here usually offer a sign on bonus, and then additional bonuses for donating so many times per week/month. He definitely got hundreds of dollars a month from it. Sometimes over $1,000 depending on the bonuses.

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>"Why do you want to move out and waste money on rent, extra living expenses, etc instead of saving money for a down payment, etc?"

On a house I assume? Someone who is young and has flexibility can make moves and continue to increase pay and job position. Buying a house isn't the end all at this point, considering she's coming straight out of her parent's home. It has nothing to do with good relations w/parents. Socializing, networking, and being independent has value, especially at the beginning of a career. Get a small apt. or rent a room with another professional. Paying for a roof over your head and expenses isn't a waste of money. It's the next phase of life.

Got it thank you! It's putting me above 228,000 limit, so I guess recharacterization is the way.

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> but what do I do with money that were invested for the past three months

Is this increase putting you above the max limit, or just reducing your direct contributions?

If it's just reducing your contribution limit you might not have to do anything with your prior contributions (depends on how much you've contributed and how much your limit is reduced).

If the increase brings your limit down to $0, you'll have to recharacterize your Roth into Traditional, at which point you can just convert them to Roth again (like the backdoor Roth process).

My advice: buy whatever you can second hand and join a local Buy Nothing group and search for things for free on Facebook Marketplace. Secondly: if you end up formula feeding use room temp water all the time. It is much faster when feeding and way easier on the go.

The other issue is that a lot of people think a long commute has to involve heavy traffic and stop and go.

I love listening to music and books and find I’m much more relaxed when I get home.

When I have a bad day when I work from home and walk from my home office to my living room later there is no buffer. Those issue fade after a commute to decompress.

You recharacterize to traditional, then backdoor convert back to Roth. Also, it is actual income that determines eligibility, not salary rate.

Take it. We’re in a recession and stockpiling more money would be a good idea. Also, WFH is a terrible idea both early in your career and in a recession. I work for a major company and we literally just laid off all of our remaining WFH employees because the firm said that our younger staff has really struggled to perform well in the WFH environment and it’s the responsibility of older staff to develop them. The firm essentially saw the WFH employees as a net cost on the firm. You do not want to be in this position because the fed is trying to dramatically increase unemployment and I have the feeling it’ll be hard to get a new job sooner rather than later.