exactly, and for that amount it seems even more daunting haha

I thought you had to actually have a dependent to do that? I’m sure if the projected pay matches what the IRS calculator says then it should be close

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> I don't know what the minimum amount of capital that you need to purchase a t-bill

From TreasuryDirect: $100 minimum and $100 intervals.

From a brokerage: Nearly always $1000 minimums and $1000 intervals

Postpone the fence. You can walk them on a leash. You are not in the position to spend money on a want.

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Ah totally makes sense. Going through the lending process is suuuuch a pain in the ass haha.

You should use Turbotax to do your own - it doesn't cost anything until you file. That way you can double check the numbers, make sure the math is right. It probably is - but it's worth checking.

> Roth 401(k) to Roth IRA has a conversion cost? I did not know.

Nowhere in your post does it say it’s a Roth 401k. That’s just a rollover.

(Any employer contributions would need to be converted however)

That’s generally good advice, though for right now 4.14% is near the balance point for savings vs debt. Savings interest is taxed as income, and if OP is in the 22% tax bracket ($44,725-$98,375) they’d need to get 5.3% interest to breakeven post-federal-tax (likely slightly higher depending on state taxes).

It largely depends where they live which is left out of the post.

Increase the number of dependents to have less taxes taken out. I would increase it by one and see how the year ends up.

Then look into 529 plans. Pass through your tuition payments and you'll get some savings on state taxes.

Let me get this straight, You have >$500k , no job, moveing cross country to live with your parents for free, your parents are poor and also have no job and you are asking if it is OK to spend $46k on a toy car just because you want it.... really dude, this is just sad.

Plus he bought a new home at the height of the market.... so he pretty much gained nothing in that regard.

Pay it off. Then all your money is yours. Plus you’ll feel amazing as a debt free human

I worked for a wealthy guy who told me a secret I've never forgotten: it's not how much you make, it's how much you keep.

If $24k is allowing you to save $1k/mo in you current situation, you're doing better than people who make $150k/yr and live paycheck to paycheck. Just make sure you're building a skillset in the meantime that will allow you to bring in more money when your monthly expenses/needs go up.

You are upper class bro, figure it the fuck out. People making 35k figure out child support and a divorce. I do not understand how someone in your earning tier does not have a solid CPA in your corner to avoid shit like this. You should be taking advantage of tax code at this point.

I see most people are addressing the IRS issue, and it's a big one, but the credit card debt needs fixed ASAP.

Assuming you make $250k per year, I assume you get about $13k a month. With a mortgage of $280k, your mortgage should be in the range of $1700-$2300 depending on interest rate. That leaves you with ~$11k. Ive never had student loans (GI Bill) so Ill assume a high end of $200/month. $10800 left. I'm leaving out child support, basic monthly expenses, etc.

You should, in theory, be able to comfortably set aside $5k every month to address the CC debt. You could literally knock that $40k out in less than a year! Aside from the tax debt, CCs should be your absolute #1 priority for the foreseeable future along with the problem that got you there in the first place. This looks like the classic lifestyle trap of high income earners. Not trying to be an ass, but this needs to be a wake up call, otherwise you'll end up living paycheck to paycheck while earning more than 98% of most others not being able to enjoy the fruits of your labor.

I should have clarified, this is for private K-12 school. Therefore, no loans.

Many cards have sub 12% rates if you've had them for many years. It's the newer ones that are too high in interest

Is there insurance company some company you’ve heard of?

Whatever man, stay broke with all your “good” debt.

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That’s very conservative… I’m not willing to go that far hahaha. I’d cry if I was averaging 4-5 but I see where you’re coming from