Ignore it.

Yes, you paying the outstanding taxes will be part of the purchase terms.

Depends on how much work it needs. It might cost you the equivalent of a house to repair.

Redmond/Kirkland are considered expensive cities to live in.

$60k seems like more of a south king county budget.

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You say that but my mentor at work took this job and is panicking on how to meet the lease terms now. Things change over those periods.

WOW I really misread that. I doubt you can find anything in the state of WA for 20-30K let alone puget sound.

Don’t overlook “How to Make Your Money Last” by Jane Bryant Quinn. A good overview of the nuts and bolts of retirement.

I get it. Thank you.

It’s usually the starting point for the bidding, not the price

It’s tax blind in the 401k and IRA but would trigger taxable events in the brokerage right?

Besides, it would go against the ideology of putting maxing out bonds in tax advantage accounts right?

You need a new financial planner. If you keep leasing for ever increasing costs every 3 years instead of saving money and buying a cheaper car that you hold onto for 10-12 year - you will have a ton of money going towards a slick ride that you never get to invest for retirement.

Wow! There’s a ton of bad advice in here! I will tell you that running to a job may help you with expenses but it’s unlikely that you’ll find something to cover everything. So that’s the bad advice I’m talking about given you will work your butt off but be dependent on a job that doesn’t pay enough. However, if that’s what you need to do to start on your new journey then do it.

I would start building your resume and your profile based on what jobs you will target. You definitely need a solid financial plan. Cut your expenses as much as you possibly can and see what it will take for you just to live. Then start saving up money even if you have to start with $20 per day. Start a side hustle as well that you will use to fund living expenses and your self investments. You also need to start building an emergency fund.

Next, I believe that everyone should have more than one source of income. This means you’re earning money outside of a regular job (it doesn’t mean get multiple jobs). Start researching the skills you have that you could market. If you don’t have any then research skills that are desirable and ones that people will pay money for. Focus on one skill that you like and learn how to master that skill. Then promote your services, once you earn steady income then learn another skill that will get you paid.

If you do it correctly you will have the skills that will out pace anything that an employer would be willing to pay you. Keep building from there and learning more about how to set your money up to work for you. This way you will be placed in a great position no matter what happens.

> A traditional IRA is pre tax dollars, right? So when we calculate the total ratio, all the assets must be considered post-tax right? So how’s it wrong?

Because it’s not a consideration because he can withdraw it all and have a large tax liability or withdraw none of it and have no tax liability.

Plus he doesn’t have enough money to put this much effort into a few percentage points of assets or way or the other

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Lol right a couple pallets and a tarp under I5 goes for 175k easy

Uhh op is saying 20-30k if I’m not mistaken

I agree that $11 /hr is untenable, and is a below the average income in TX/DFW. The job was supposed to be a stopgap after a fairly long period of unemployment.

I don't have a degree, and most of my work experience is in customer service, which may be a limiting factor. Although, from what I'm beginning to understand I may have been selling myself short in that regard for awhile.

3rd adult is not receiving disability. We've applied in the past, and have been denied but I absolutely agree that we should try again; especially now that he has access to a social worker. I know on his end it's been a long battle with the state to get coverage for medication and treatment related to AIDS, and that's definitely had us scared to apply for other benefits.

Thank you for the reply, it's helpful to have other people outline some of this stuff. I have to admit I've been panicking a little and should have probably come to some of these conclusions, myself.

As kindly as I can put this - if you can't do your own research sufficient to answer those questions (especially the second, which is extraordinarily subjective and for which you have provided no baseline for your skillset with regard to repair), then you're going to have a bad time.

Would I owe those taxes? Additionally, if it is heavily damaged, is it still worth it if I get a whole house for the price of a year's rent?

In the Seattle area, there is something very wrong with that house if it's going for 200-300K.

I donated for about 10 years. The compensation varies, but I usually got at least a couple hundred per month.

Only if you get a roommate. More than half of your income will be the payment + you'll have a new loan payment? That doesn't leave you with much cushion and opens you up for risk (what happens if you need a major repair done in six months?)

Really well said. I love love love remote working but everything you said is on point. Forming important relationships early in your career is much harder (not impossible) working remotely. Your 20s can be a very important time to explore jobs, people, places, living situations and learn about yourself - everyone is different but most of us can’t get a detailed understand of who we are and what we want out of life by staying too comfortable at home or remote working.

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It costs nothing and is tax blind in a 401k. Literally can change allocations in about 3 minutes.

It's not important because the differences are minimal in the grand scheme of things.