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Just transfer the money from the brokerage account to the IRA. Nothing wrong with this, people do it all the time.

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That's fine. Just contribute money from taxable brokerage account to IRA. You may have to wait for the deposit to settle in the taxable brokerage account first.

Alternatively, contribute from your bank account and then withdraw from the taxable brokerage account.

The source of the transfer to my brokerage account was just my bank account. So now the money is sitting in my brokerage account uninvested. The brokerage account is with Vanguard and so is my IRA

None of that is true

But retiring with my current balance wouldn't be what I consider at decent retirement lifestyle. That would be like $20k a year at the 4%. How can anyone live on that even if they have no mortgage. Let alone travel or have hobbies.

Once you enroll, there are pre-tax deductions from each paycheck into the DC FSA. I didn’t get a debit card for mine but had to electronically submit receipts and invoices.

Unlike a regular FSA where you can access the entire year’s amount right away, you can only reimburse for the amount currently in the DC FSA. $5k annual limit = $416 going into it every month and $10k annual expenses = $833 per month. You can either reimburse yourself $416 every month or $832 every other month. This may vary if you have months where you don’t need to pay for daycare.

IIRC, the DC FSA may decrease the amount you can claim for the child care tax credit.

always max out employee contributions

Open brokerage and ROTH (fidelity is great, cheap and easy) Or Schwab although I find them a little slow sometimes. Although I think schwab just offered a High Yield , insured savings.

Moving cash savings to a high yield account or brokerage and into a treasury fund where you can make 4-5% interest.

Max out ROTH (while you can) ~$6500/year (double check that)

start auto contributions to a fidelity ZERO fund. Set it and forget it. Don't look at the market, don't bother with CNBC or picking stocks. Just do it rain or shine forever. Make sure to check all boxes that say reinvest dividends. Depending on your need for cash - place a chunk of your savings in the fund or do it $2-$5k/month until you hit the amount you want to invest.

If you comment is in regards to buying or selling stock options - uhh let that dream go until you have more experience in the market.

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I mean is it a surprise that people who are irresponsible with money have money problems? Kind of a self selecting thing. Why a 22yr old living with his parents needs 2 cars is beyond me but that kind of mentality is why they're in this mess in the first place.

Absolutely do not do crypto.

USD has a significantly lower inflation rate than the British pound right now.

USD won’t hyper-inflate unless a significant world event caused the US to no longer be the world superpower. This is highly unlikely for at least the next 10 years.

Final advice: Stay in USD.

yep, it can change fast.

But it can change slow, too.

I once "broke the utilization rule" and went way over 30% across all my credit cards. My score dropped like 40 points all at once, and then came back most of the way when I paid off the balances in full, by the due date.

I've heard that you won't recover quickly from is delinquency. If you keep paying late, or worse just skip payments altogether, that is hard to correct.

To add a little to this post. The lien holders typically bid the price to whatever they are into the property for. This allows them to be made whole if someone buys it. It has to be a really crappy property for this not to happen.

Depends on the source of the transfer. If it was not a tax-advantaged account, you can just contribute normally to IRA from any non-tax advantaged account. For example, moving money from taxable brokerage to IRA is still a normal contribution. It doesn't have to come from a bank account.

>presumed hyperinflation

Lmfao. No. Even with peak post COVID inflation, it’s not even high in historical terms. The 70s has sustained double digits inflations. There’s never remotely been any risk of hyperinflation of USD ever. At all.

Buy something with cash and invest your money so you don't have to work until 67.

Well that's not a scam though as per I have heard though but one things just look around for the certified once

This is probably not a good idea. Have you sat down and set up a budget?

Assuming you have a better rate now, Can you remove your partner's name from the document without refinancing to that higher rate?

I think this would be unwise. Even with a roommate, that is not a stable arrangement for your future.

If you make too much for a direct Roth contribution then you probably make too much to deduct a traditional contribution so you'll be paying tax now regardless.

If you have no existing tIRA balances, just do a backdoor. The traditional vs Roth, now vs. later tax bracket analysis is more geared toward 401ks. Given the low contribution limit and the low income threshold/phaseout of IRAs, it's usually better to just go straight to a rIRA.

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Do you need a car now? If not, given that you bought one a couple of years ago, I would keep the car you are driving and pay cash for something when you get to that point, and/or wait for interest rates to go down. There are other ways to build credit. You could get another credit card and pay it off every month. But if I were you, I would focus on building my savings and that includes saving for a car.

> I thought that if you made above minimum payments instead of paying it all off at once that it raised your score faster?

Nope. You need to pay off the entire statement balance before the due date.

> I also break it into two payments a month.

Nope. You don't get bonus points for making multiple payments.

Pay the statement balance before the due date. It's really that simple.

Hell no that isn’t normal. They are trying to have you pay your insurance deductible and have your insurance pay for the repairs, which in turn would make your rate go up.

Your insurance likely wouldn’t even pay it out if they knew there was another person (with insurance) at fault.

The at fault driver’s insurance is who has to foot the bill, you don’t even owe a deductible.

I'd actually argue there is more of a risk of deflation than inflation at this point, and the USD has deflated already relative to other world currencies quite a bit since COVID.