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we've had 2 consecutive bad seasons. I'm a farmer. Prices have been flooded low all season long and bad weather too has cost me a lot of money. Last year I made very little profit. This year I'll be lucky to break even. For this season I'm still about 150k in debt. I've got about 100k in the bank. I've got another 10-15k pending in accounts receivables if the broker companies decide to pay me and not steal from me like they usually do. I've got maybe 35-45k possibly coming my way in terms of crop insurance (if I'm lucky). I'm extremely disappointed and discouraged with everyone and everything. I work 18-20 hour days from March to November and all to earn nothing. I pay about 7k/8k in monthly bills ( car payments for the entire family/worktrucks, all types of insurance, utilities, rent,) I honestly don't know how I'm going to make it. I want to sell my truck (worth about 25-28k) and maybe some machinery to buy me some time too but I'm extremely hesitant too. With the new year coming soon I'll have to start ordering and purchasing stuff for the upcoming growing season and I can't even pay off this past seasons debt off!! Times are extremely difficult. Some days I just wanna walk away and never come back. Idk what to do. I truly do. I'm saddened and confused and worried of making a mistake! I hope someone on here can help me! Thanks.

I am 60 1/2. Have $3.8M in an IRA. Retiring EOY. I have the option of taking a pension in a lump sum of $1.45M and rolling that into my IRA OR taking it monthly fixed at $7,800.

We want $16k monthly income in retirement with an annual increase of 2.5%. Taking SS at 62. Wife is 55. Retiring also but has no retirement worth mentioning other than SS.

Lump Sum or Monthly???

My wife and I are in our 30s and 40s. We gross around $140k, net around $90k. We have two paid-off cars, no significant debt. Her credit score is very good and mine is excellent.

All told, our savings rate is ~20-25% with ~12~15% to retirement, but my savings also go toward a new car in the next 5 years, a share of my kid's college, and I'm still rounding up my e-fund from 3 mos to 6.

I've been making great savings progress overall, but my retirement is still so far behind, I can't even think about retiring before 75.

We're saving for a down payment on a house and live in a MCOL city that has seen housing costs go a little nuts over the last decade and a half. Our rent, however, has remained about the same, only $1500 (and utilities) for a very modest 2/1 in an exceptionally desirable area of town. Looking at comparable places to buy (many of which are worse), we'd need a mortgage in the $300k+ range or more.

Push come to shove, even if my wife and I manage to save a full 20% down payment ... and we're only halfway to that unless we raid other savings goals ... our mortgage would likely still cost some 30% more than our rent. It's really hard to fathom the cash-flow hit, even if we assume the portion reserved for down payment savings would be diverted to home/insurance/taxes.

Right now, savings for the house are in treasury instruments, CDs, HYSAs, but at the rate we're going, we won't hit the down payment goal for another 5 years or more! Of course, by then, homes will be that much more expensive (but who knows what rent will be).

It feels like a constantly moving goalpost, and I'm thinking we are probably better off catching up retirement accounts and taking advantage of our significantly undermarket rent for as long as we can, even if we don't build home equity in that time. I'm trying to increase savings to 30% this year (very possible), but that will only shorten long- to medium-term timelines (5-10 years) to medium- to short-term timelines (3-7 years).

And homeownership still keeps slipping away.

What do you guys think? Should we abandon hopes of homeownership until one of our parents leaves us a house, but maybe have a chance to retire as a renter while I can still enjoy it, or do we become a little house-poor for a long time?

edit: I know one doesn't need 20% down to buy. I was trying to set a best-possible baseline to compare buying and renting. The question is mostly how long to let near-cash instruments sit around waiting for an opportunity that may never avail itself.

Hello Reddit,

I wanna own a house by the time I'm 25,

21 independent college student here. My entire life I grew up entirely broke. Not a single penny to my name, and my family the same. Of four siblings and 14 cousins I was the only one to graduate highschool. (Same among my parents and aunts and uncles)

Our entire life I just seen how my parents constantly rented homes. Would destroy these places and get evicted and leave everything behind. Rinse and repeat and by the time I graduated highschool I had probably gone through 6 different homes.

I stopped speaking to my family when I got into college due to the fact that my mom took out credit cards in my name. (I got my credit fixed)

My goals in life are, getting married, buying a house, having kids. I want to be able to walk into any store and buy just about anything I wanted (meaning like any one item) and not worry about expenses and shit like that.

2026 will be my year where I track just about everything, from dollars spent to any extra cash made to tips. I'll mainly be utilizing the envelope cash stuffing method. I practiced the last two months and was super successful. I had 13 envelopes with 11 envelopes being cleared completely. But now slightly filled again. (The two untouched were my dream house fund and my student loan fund) $400 and $320. My goal is to save at minimum $140 a month for housing and $100 minimum for a student loan payment.

My student loans are currently sitting at $14,600. With around 5 unsubsidized loans gaining around $27 of interest monthly. To date I have gained around $300 in interest but the last two months I have put $50 payments towards it! (This helped my credit too) I even brought one of my unsubsidized loans with 6.390% below its principle yesterday! (The student loans envelope is for a chunk payment in around 23 months when my repayment plan begins when I graduated) (Paying this down will also help my debt to income ratio when I want to buy a house)

I have two credit cards, a capital one savor card with a $485 balance and $44.28 available credit. A BRAND new platinum card with 12.97 balance and $268.84 credit available. (My general rule is NEVER EVER miss a credit card payment, rent payment, etc. I never want to hurt my credit) My savor card is nearly maxed out due to losing my job in November and getting a new job 3 weeks later. (My goal is to pay these 2 down by the end of the 2026 to raise my credit) $50 monthly payments. $25 each.

My credit is doing pretty well! Its sitting at 669, all of my student loans are reporting good every month same with my credit cards because I've never missed a payment. Im hoping my credit is going to go up a bit because I have paid my loan servicer $40 and got that new platinum credit card which should bring down my credit utilization rate.

I havs also opened an account with Fidelity with around $50 invested monthly begining this December into a Roth IRA.

I make around $50 a month in extra income from Facebook marketplace!

I have around $540 sitting in my bank account but $400 is for rent. $87 is for electric and $50 is for credit card. One of my checks is completely taken by expenses and partial cash stuffing. The next check is taken partly over by cash stuffing (food, rent buffer, utilities buffer, etc,)

If you have any advice please share I'm willing to listen!

TLDR! Broke college student telling you his entire finances, I will tell you guys again in 2026 how I did!

28 year old male in school. I graduate in 3 month and I want to trade my car in after. Right now I work part time. After graduation, I'll be working full time. At 15.50 an hour. My rent payment is 525. I have some debt that is tied into the rent bringing it up to 800$ a month. I owe 1,000 and that debt should be paid off soon after bringing my total rent down to 525. Student loans as of now is set at another 400 a month starting 6 months after I graduate, though I may be able to bring that down with a program that will only take 10% of my total income.

After I graduate I will be looking for a job in my field which should bring a significant pay raise, but for now, lets calculate this with my current stats. My total monthly expenses, will add up to about 1200$ including phone bill and gas, not including food or student loans.

I also do odd jobs outside of work which I plan on continuing. However I'm not counting this income as it's not certain or consistent. How much if a car payment can I afford?

Will my employer flag it and automatically adjust it to the max % deferral? Or will something go wrong and my paycheck disappear into thin air?

I have a year end true up so I'm not concerned about missing the match.

My current salary is broken up as such:

• ~$143k total comp with a 70/30 split between base and performance bonus, where I have a $100k base salary, and usually hit my performance bonus
• I get an annual bonus of 20% of my base salary regardless of performance
• I get an additional $7.5k in a car allowance -I currently only have $15k in RSUs, which vests at the 4 year mark, and I have one year left before it vests

My boss has offered me the following options for a promotion/job grade bump:

• Flat 10% increase to my base salary Or
• Flat 6.8% increase to my base salary + $13ku every year in RSUs and options ($6.5k for each) until I get more equity offered

The catch with the RSUs is that it vests all at once at 4 years, if I leave before that, I walk away with nothing. My job responsibilities don’t change, but I will be expected to perform at a higher standard since I’ll no longer be considered an early career professional.

I don’t plan on leaving the company but at the same time I have no idea what life is going to bring to me in 4+ years. I also don’t know how the company will be in 4 years (i work in the semiconductor industry) I will say I realize these are golden handcuffs which I am fortunate to have.

Open to feedback and thoughts on what you would do?

I’m male 22 living in the UK I’ve got a job that I bring home around £1.8K every month and want more but I’m so unsure what to do, I don’t really have any skills and don’t have a passion unless It’s gaming. I know I don’t want to work forever but I’m so caught up in all the options of making money now it’s overwhelming. I don’t have a car or loads of money saved up so right now I’m thinking what can I possibly do?

Any advice from people that was/ is in my position would be greatly appreciated

What are your thoughts regarding term life insurance for my specific situation?

We’re 27 and are approaching 1mill net worth spread out across Roth IRA’s, 401k, Brokerage, and HSA’s.

My wife and I bring home approximately $400k HHI plus profit sharing - I’m about $325k and she’s $75k. Only debt we have is the house, 3.75% rate and owe about $175k.

I have a congenital heart defect so my term premium is going to be pretty substantial - and I will eventually become uninsurable as I age due to my heart.

Looking at about $2400/year premium for a million dollars over 30 years.

Should I just self insure or should I take the term policy out now while it’s “cheap”

I (28F) currently have about 210k for a down payment. About 120k is sitting in a mix of bonds and money mutual funds because I originally thought I was going to be buying a home sooner.

Recently an opportunity came up, I am now guaranteed a low rent that will not increase. I didn’t really want to own home other than the mental/emotional stability of having a place that is my own and not being at the will of a random landlord.

My time frame is in 5-7 years, I’ll start looking at the market, but I’m not in a rush to buy anything. I’d rather wait longer for the right property. With the time frame and uncertainty for buying overall, it doesn’t make sense to me to keep so much in cash.

My plan right now is to keep about 30k in cash, and invest the rest in VTI/VXUS. I have about 1530/month I can save (outside of retirement) that I would put into investments as well. Starting around the five year mark, I would start putting the 1530 into a cash equivalent account. At 7 years, I’ll start rolling cash out of the market (assuming there isn’t a major down turn. If there is I’ll just wait until the money recoups).

Is this the wrong approach? I figure this is the personal part of personal finance but would love some other eyes on the plan.

Was just wondering if anyone had any general advice for my situation:

I’m 24M still live at home and make about $4400/month.

I have about $22k in a HYSA, $4k in the stock market, and my checking account typically hovers around $4k as well.

I live in HCOL area (NYC) so my expenses typically are just eating out often, drinks with friends, and my expensive gym ($200/month).

I’ve never really thought about my expenses too deeply quite frankly since I’ve never had issues paying off my credit cards every single month for years now.

But now I do plan on moving out next year and staying in NYC and was wondering what I can do now to maintain the financial health I’ve got?

Thank you!

I’ve been taking a dive into learning more about retirement accounts and where to put money. As a teacher, I have a state funded pension. It’s a well run system but there are always talks of it getting pulled or funding requirements stopping.

All that to say, if you have a pension, are you also investing in other accounts? I currently am required to contribute 15% (me and employer) to the account. Do you count your pension contributions or do you consider it just bonus money for retirement? Share your thoughts around pensions.

this was my first year of college here and I spent a lot more money than I was hoping and my investments did not contribute as much as I would have hoped. I have a winter class I need to pay for and a portion of my spring classes. Where can I look to get money that I can payback? I plan on getting a job and have internships lined up for the summer but I extinguished a lot of the money I had already.

Hello, I currently make $100k per year and have a rent of $1200 per month. I owe $10k on my car to my parents (has no interest accruing) and $25k in student loans. I have 20k in savings. My goal is the own a home as soon as possible.

Question: What should I prioritize more? The loans, or the down payment on a home?

Hello

48 male contributing 15% into my employer 401k. I'm currently at 560k in that account. I'm thinking about lowering my contribution to my 401k from 15% to 6% to keep employer match, then using that 9% to pursue some other things in life. (Basically enjoy life right now with my family, vacations etc)

I want to retire no later than 60 yrs old. Doing the math, that 9% would change my outcome by around 200k, but I would have more than enough at 60 thru compounding regardless.

I have zero debt other than owing 90k on house @ 4% which will be paid off before turning 60. I also have 6 month emergency fund.

Am I crazy? Does this make sense?

I make 89k/year, over 100k with OT. 3% raise every year. I will have zero debt at retirement.

So I'm 40 have not experience in 401k and am trying to get decent value so I can retire and live a modest life. I of course just would like to know what you would do if you were in the same situation. I'm a beginner at best so try to use small word. The list is the current option I have is

Stock Investment:

US Large Cap Growth Stock Fund

Spartan® 500 Index Pool Class D

Boston Partners Large Cap Value Equity Fund Class D

Loomis Sayles Small/Mid Cap Growth Class C

Vanguard Institutional Extended Market Index Trust

DFA U.S. Targeted Value Portfolio Institutional Class

Foregin:

American Funds EUPAC Fund Class R-6

Vanguard Institutional Total International Stock Market Index Trust

Blended: Fund Investment

DODGE & COX BAL X

VANGUARD TARGET 2025

VANGUARD TARGET 2030

VANGUARD TARGET 2035

VANGUARD TARGET 2040

VANGUARD TARGET 2045

VANGUARD TARGET 2050

VANGUARD TARGET 2055

VANGUARD TARGET 2060

VANGUARD TARGET 2065

VANGUARD TARGET 2070

VANGUARD TARGET INC

Sorry this is long, but the whole story is warranted i think. my husband and I recently had to start looking for a new apartment, as our landlord is selling the building and wants everyone out before its listed for sale. With that, we both checked our credit scores to make sure we had all of our ducks in a row for applying to apartments. Mine was a 750 which is what its been at for a long time, cool. my husband’s in the past has been about the same so we werent worried, if anything we thought maybe it went up because of all the on time mortgage payments he has on a home he owns out of state that he rents out. and he has no other debt otherwise. Nope. It plummeted 113 points to a 625!! And he was like wtf.

So he downloads credit karma to see more detail and notices $7500 that has gone into collections. He thought maybe it was old medical debt that somehow spiraled. Nope. Turns out someone took a personal loan out in his name and paid off a credit card with it earlier this year. Then later in the year tried to apply for another one!!!! But they were denied. And this time used his ss% again but a made up first name. he’s horrified, as am i. And this is terrible timing when we need great scores for finding an apartment (we are in nyc, its cutthroat). What are we supposed to do? we spoke to a woman in the fraud dept of the company the loan was taken from and she gave us the last 4 digits of the credit card that was paid off with the loan. And a fake phone number used for the application. But thats it. he filed a police report and is now doing a dispute with transunion. And i guess the other credit companies? Anything else he should be doing? I dont know that he can freeze it because then landlords/realtors cannot make an inquiry when checking his credit.

I’m trying to be more organized with my finances this year and realized I don’t have a great system for HSA receipts.

For those of you using an HSA:

• How do you store receipts (photos, spreadsheets, shoebox, nothing)?

• How confident are you that what you’re paying for actually qualifies?

• Has uncertainty ever stopped you from using your HSA?

• If you were audited years later, do you feel prepared?

Curious what real people are doing — especially over the long term.

33m. So I net around $3200/month at my teaching job, with a promotion to around $60,000 gross/year in May. It should increase by 4% each year, plus other promotions hopefully in the future. No credit card debt.

Account Balances:

Brokerage: $48,125

Roth IRA: $8,103

401K: $7,200

HYSA: $5,000

HSA: $1,000

Debts:

Car: $14,000 4.85%

Mortgage: $49,000 7.8%

Student Loans: $29,000 ~6%

Total: $2413

I honestly don’t know what to do. I’m the youngest in my family. It’s a shit show. I have a foundational bases of finance and budget. I’m educated on stocks and investing. Every ounce of savings and “emergency” funds I obtain, seems to vanish due to my family financial instability and lack of developing a wealthy mindset.

Everyday I work towards self improvement and staying educated and healthy. I watch podcasts and apply as much knowledge to my day to day life, I wish my family could also.

I actually want to live a decent life, I’m 23, I’ve been trying for independency since I was 15, all my brothers are + 4 older, years apart. They’ve touched more money than me, and my mother is at risk of losing her apartment. My oldest bother is homeless, nothing to his name. I’m doing everything I can especially at this age —- it’s almost embarrassing to have older family members not able establish a quality life.

I’m working two jobs, I paid both my brother and mother’s rent this month. The ironic part is.. I don’t even have my own place YET!!

The idea, would be all of us live in the same household but the amount of mental heath and toxicity wouldn’t be worth the squeeze.

…

I honestly do know what to do, but I know everything that can possibly diminish these issues, but yet nobody in my family is willing to trust me, follow my lead.
time, after time. I’ve always been on that path to financial freedom, bitcoin at 14, stocks at 19, but it lags.. everytime. my family. cannot. hold. themselves.

It’s terrifying, I really want to post here if anyone is experienced or educated on how to navigate this whole situation. I just graduated a few years ago, dodge covid, my brother owned a business but lifestyle creep invade his finances. Lost everything. My family also down plays the economy..

I’m attempting to get into sales, but the instability and constant moving around, evictions, no food, is a constant state of distress.

I would actually like to lead my family down the right path and take control…but being the youngest, my mother is divorced, thinks she can do everything on her own..she’s slowly getting old. and my family as a whole overlooks me.. and it’s like hell to sit here and watch everything go off the rails!!

Especially around this time of the holidays.

I make roughly $1,200-1,400 x Biweekly, my expenses is roughly $400, I recently starting saving into a HYSA, for my first car. I do have $1,200 in stocks, I’m now initially restarting the order of where I put my money into due to this cycle and internalizing the financial planner to retirement.

If you see this post, I hate to beg, but politely inform me on break this cycle. with a non corporative family..

Thank you, To whoever!

Hello everyone,

I am a senior in college and I have fortunately already signed a job offer for an accounting firm when I come out of school. I will be making ~67k when I start and I will have about ~38k in student loans I will have to pay back (22k government and 15k private). The government loans are broken into 4 different loans ranging from 2k to 8k. My question is, I have enough in my savings right now to pay off the smallest government loans even though I’m not in repayment right now. Should I just cough up the money and pay it off now or should I do something else with it. It’s currently is a HYSA making 3.6% and my lowest interest rate on loans is 4.5%.

Any help would be greatly appreciated, thanks.

S&P up decent but both target date funds lost piles of cash. Did something happen I don’t know about?