https://www.irs.gov/newsroom/irs-announces-changes-to-retirement-plans-for-2022

Contributions start to phase out at 129

Start here: https://www.reddit.com/r/personalfinance/wiki/commontopics

Question doesn’t really make sense. That’s not how you choose to invest

Https://www.whitecoatinvestor.com/fix-backdoor-roth-ira-screw-ups/

Interest is accrued daily.

Each days interest is 25.99% * 1/365 * remaining balance

So that first month, it was about $8.54 per day

It may not be Hsa eligible.

May be worth investigating

That may be after the deductible for the HDHP

No coverage means no coverage

You’d pay full price for the inhaler on the HDHP plan so the second one is probably the best option

Hsa-eligible hdhps can’t cover prescriptions until the deductible is met

Your math is bad. Loans amortize and accrue interest daily.

You pay 25% per year not in total.

Your only option is to yeet every extra dollar you have at the loan

1% of home price per year, except it all happens in one year and costs at least $10k each time it does (not really, but close)

(maybe 2-3% if its an older home)

https://www.reddit.com/r/personalfinance/wiki/commontopics

I think you're going to be just fine if that's how you think.

Its refreshing considering some of the other posts that come here.

Enjoy the bay!

I really wanted to tell you it was irresponsible to stop saving.

But I can't given how well you've saved in prior years. I think you'll be alright

> Was I getting back what I paid in?

Probably. That's usually what most of a tax refund is.

>I thought that if you make over something like 25K, married, that you’re required to pay income tax on it?

Yes, but your two children provide a $4000 tax credit, which means you'd need to earn about $62,000 (after 401k, health insurance, and other deductions) to have any tax liability.

>Seriously, thank you for taking the time to answer my questions!

Gladly

> I'm still not sure if there are any other downsides other than wasting $5? Does it hurt anything with my card or credit since I only made a min payment and had to pay interest?

Nope, other than $5 and the loss of the grace period temporarily

> One question. What is the downside to just making the minimum payment which is $25 with $4.54 interest? I mean I lose $5 but then I don't have to take another $300 out of my checking, wait for the fund to hit, then call, and then wait for a check or bank transfer. Is there any downside to that?

You lose your grace period and pay $5 in interest. You could just spend money on the apple card you'd spend on other cards to bring it back to $0

> but do they really assume that because I’m married, I’m the only one working?

Yes, that's what it means when you select married on the W4 and don't check the "two people are working" box or complete the two earners worksheet.

This is an incredibly common issue because most people fill out the W4 online rather than reading the actual document

https://www.investopedia.com/terms/f/flexiblespendingaccount.asp

> I would imagine this is federal aid

Its not. You're student loan balance is just back to what it was.

>but I am wondering what would happen if the relief does not go through?

You pay back your student loans like your original plan was.

>So would my student loans just start again come next yr?

yes

>Do you think it is a good idea to trade savings for short term fun (2 years)?

No Maybe given your existing savings.

>What's the minimum savings % of gross paycheck you would run?

20% Not saving may be fine for a short period in this instance

>Current Savings:

You made it sound like you were burning savings for fun, not just not saving for two years. You're ahead of where you should be, so you're probably going to be fine.

If you're going to school full time and working full time, will you even have time for fun?

Yes

Or just spend it down

> Can you explain why, if I filed as married, they wouldn’t withhold taxes?

Married w4 assumed you’re the only Earner and your income is too low to have any federal taxes due because of your children

https://reddit.com/r/personalfinance/comments/z8aorz/federal_taxes_are_not_being_taken_out_of_my/

Similar question form earlier

I’m not sure what you’re asking.

The student loan payment refund and taxes are unrelated

No. You make the full payment then when you get the refund you’ll have a credit (negative) balance.

You can ask for a check to be mailed to you or just spend it down (up?)

>I make 55K a year, two kids, and a spouse that makes less than I do.

If your w4 was filed as married, they shouldn't have been withholding any federal income taxes based on this.

>I’m honestly pretty upset because my spouse knew this happened at the time and then tonight mentioned that we might have to pay interest/penalties on the taxes I didn’t have withheld!

Only if you owe more than $1000.

>but should I invest in having someone do them this time due to this issue?

Probably not, you may be freaking out over nothing

Yeah then per /u/rnelsonee ’s math, you have no tax liability (and may actually have a negative federal tax rate)

Zero withholding is appropriate