There are two types of sherrif sales, one your tax bill will be sold to someone else and then you owe them plus interest or they will force you to sell, or two, the county will force you to sell.

Ignoring the issue wont make this go away and many counties DO offer an 'offer in compromise' if you can prove economic hardship. So you neeeeeed to talk to a tax attorney and have them do the work for you or you WILL loose your home.

Just noting I’ve lived in both Seattle and Chicago, they’re very different on the scale of cost of living

We have a budget lined up, it just seems too good to be true. His expenses are listed; I just don’t know them off the top of my head.

We definitely need a joint account for bills. It’s ridiculous how we are doing it now, I basically Venmo him my part of the bills. Young & dumb. We will learn, hence why I came to the sub. I appreciate your feedback.

Financially it is probably worth it. If the new job will lead to you increasing your skill in an area that could catapult you into even higher paying positions later, then it is even more worth it financially. However, not all decisions are financial ones.

His total financial assets are 282,000, and since he is already so close to 70 I would assume he isn't going to save a lot more before then, and the pile won't grow very much more in the market by then either. At a 4% safe withdrawal rate, he can only take out about $11,000 a year to augment his SS (he doesn't have to follow the 4% SWR of course, but we need to make some starting assumption if we want to get an answer). Even if all of that were taxable income (it wouldn't be, as some would presumably come from savings or from principal of I-bonds) it would be below the standard deduction, so the tax rate on it would be zero.

So even if you wanted to take the tax rate into account, being zero you still wouldn't need to take it into account. The advice to worry about this would mostly only apply to wealthier people.

By my calculation, he would need to be taking about $20,000 in taxable income out a year before he would start to pay federal income taxes. At that point, the marginal rate would be 18.5%. (The taxable dollars themselves would be taxed at 10%, plus each one would cause 85 cents of SS benefits to move from untaxed to taxed.)

That is for federal taxes. My understanding for MI, $11000 in taxable withdrawals would put him just past the point where it exceeds the MI standard deduction for married, and so would start being taxed at 4.25%. But the legislature is still in session, so...

No I completely agree they should be looking at it. Everyone should be and have retirement in the back of their minds.

But their question wasn't retirement focused. OP is currently concerned about meeting their immediate lifestyle costs.

Maybe you should just figure out how to make more money and quit being angry at how unfair the world is.

That’s good news, I don’t feel so crazy now for accepting the 6.6%.

Our commute to work is 45 minutes one way trip. Both have SUV’s. My second job is 20 minutes one way. Daycare is also 30 minutes away one trip. Unfortunately where we live, it’s hard to find good work, school, daycare in a close vicinity to each other. We are in southern AL.

They should be looking at retirement. OP isn't in good shape at all

Yes. And the money you get back is a refund, not a return. The tax return is the form or set of forms you submit.

A Chained VPN would solve that problem, unless they look really close.

Thank you this is super helpful.

I think you're missing the point. They can buy a small condo instead of rent a small apartment. When it no longer suits them, rent it and move to the next property. What you're advocating is an unnecessary spending of tens of thousands of dollars per year, essentially for no value other than independence.

If OP works (whether remotely or not), they can socialize and network just as easily from an apartment or their parent's home.

As mentioned earlier, the only loss is the supposed value of independence. Your life experiences have led you to formulate your opinion on the value of that. My experience and what I've seen from higher net worth people around me is that people with assets tend not to go this route, and think that the value of this independence is overvalued.

Again, I'm not saying to stay home forever, or to live at home at the expense of moving out of the area for better career prospects. I'm saying that if a person can live for free at home without much sacrifice, it makes sense to me until they can live in an asset and not a liability.

My first suggestion which is advice you are not even asking for but I personally think you need is to get on the same page as your husband. How can you buy a house and not know what his bills amount to each month. In the very least you need to create a joint account for bills and probably have a rough budget especially with having credit card debt. I think you can manage buying the house but should really have a discussion with your husband on your finances and have a plan moving forward.

> We have no retirement fund. We have a 529 for my son, and will open one for our daughter once she’s born.

You can't afford to pay for anyone's college. Sorry. You have no retirement funds, 10k in high interest debt, and a 40k car loan along with other items in your budget that seem way way too expensive. So I think the answer to your title is yes, very

Well it’s not sustainable if they also don’t have a plan for retirement. Current lifestyle costs for everyone need to include the retirement plan. If the debt is for everyday expenses they are already above their means. If they can’t pay off $10k in debt when they have less expenses, how would they pay for any home maintenance or emergencies once their bills rise?

60k-42k = 18k 5days/week x 50weeks/year = 250 days of work 250 days x 1.5 hours driving = 375 hours driving / year 18k / 375 hours = 48 bucks an hour... To sit in a car and press a pedal.

Is it worth it? Only you can answer that.

Net Pay Monthly: $7,870 roughly. So even closer to that above our means line, not including CS.

We have 5k in savings, but it’s about to go for appliances and cosmetic repairs for the house we are buying or we should just bite the bullet and pay off half the CC.

We’ve had the 10k debt for two years. It was moving expenses after we cut contact with family and had to move out unexpectedly, we haven’t been on our feet long enough with our new salaries to start really making a significant change, it also hits my husband for a $115 interest cost every month.

Good call!

Sales engineering is a great fit for people who have analytical and people skills but who don’t necessarily want to skew too hard in either direction (I.e., hunting leads or building product).

At my $2b tech company these folks are very well regarded, well paid and very busy.

Okay so like how when you fill out a w2 if you do 0 withholdings you are likely to get more of a tax return than someone in the same pay and job as you that has everything withheld and likely will owe?

Both of my T and R IRAs are at Fidelity, can I do recharacterizing without any Fidelity customer service? Like just fully do-it-myself?

I believe the word is fraud. If you live in chicago you need to actually live in Chicago 183 days a year and pay the state's 5% income tax.

From what I’ve read online and what the people at MERS told me there is no 10% penalty for this type of account. Just the 20% tax and 2.4% state.

For sure. 1k on food is a lot. And then imo when you are in cc debt you have no wants till that is paid off

So like… every national company