58K in student loan debt was paid off.

Bought current home at peak of market last Spring.

OP said the at-fault driver's insurance is offering the deductable&rental and asking OP to report the accident to his/her own insurer for all further costs. That sounds perfectly OK

As others have said, the main downside is the risk of over contributing and forfeiting the money (happened a lot during covid because day cares closed). Also, it can be a hassle to get reimbursed - make sure to stay on top of the paperwork and don't miss deadlines.

58K of Student loan debt was paid off. What I have left is what remained.

Ok thank you

Thanks I appreciate that :-)

I’m in New Mexico

It was a sales tactic. Drop the policy and pay off your CC debt faster. If you ever get dependents, buy a term policy to cover them in case you die and they lose a primary source of income.

When you read the book it will explain it in more detail but yes. The Roth 401k option is an employer-sponsored retirement account and the Roth IRA as the name suggest is an Individual Retirement Account.

Again, I would recommend reading the book first but yes you would open an account with them that is an IRA, not the brokerage one. Then use the money you have to max it or at least work up to a goal of a total of 15-20% of your gross salary.

As for the student loans technically you are legally and morally obligated to repay the loans but politics being politics I would hate for you to be holding the bag when the president wipes away student debt in order to buy votes. So I would set aside just enough to pay it in full and see which way the wind will blow on that decision. (My money is on its not happening)

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NO! Also if u plan to sue for any physical injuries they will use this as a “settlement” and u won’t be able to get anything else

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Schedule a meeting with a fee-only CFP and discuss.

I would still invest any cash beyond short term needs/wants in equities.

It was presented to me as another pool of money to have in addition to my retirement

Edit: why did someone downvote this that’s not helpful I’m trying to learn here jfc

What exactly were you hoping to insure against if you die if you are single? If you are interested in retirement, simply contribute that $100 to retirement…

Yeah, get an accidental death benefit rider on something.

Index funds mostly are damn close to the index they follow. Just Google “S&P 500 price” and change the time-frames and you can see the performance. Besides S&P 500 there is also Total US Market and some others. It depends on what funds are offered, but you should be able to click on the ones available and see their performance and the fees (labeled “expense ratio”, you want this below 1% or even below 0.1%).

You yourself can just transition to bonds (should also be in the list of offerings) as you get older.

> Is this something I can change easily?

For mine, I can transfer 20%/yr from one fund to another (but I can change future contributions with no limit), the limit isn’t something I knew it just was a pop-up message when I went to do it. Meaning if I have everything in A and want to fully tradition to B, it would take 5 years. But yours may be different options.

You can also contact whoever is in charge of your retirement.

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Yeah that's true I guess from the perspective of me already paying them off at that rate, it would be a 4+% "investment"

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Where did the money go from selling the house? How do you only have $8k equity in current house?

Yes; we can afford it; my wife is also working.

Pay off your car, it’s a no risk way to make 4.14% on your “investment” if you know what I mean and any competent person would take that. Same with student loans since their is no chance of forgiveness.

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