BringItBoy
BringItBoy t1_iuijqmo wrote
Reply to How much to save from 1099? by CoachK3
How much did you make on the sale compared to what you bought them for?
BringItBoy t1_iuijhm5 wrote
Reply to Best way to fund a gap year in income? by Conundrum5
Are you able to get government assistance or unemployment?. Even if you take a loan you have to pay it all back and you will still have expenses next year.
BringItBoy t1_iuiieyd wrote
Reply to comment by spaceflamingo3 in Where should I put my money? by spaceflamingo3
If inflation is your worry than buy Series I bonds as they are inflation protected. Stocks are not hedges against inflation. Inflation is also slowing down and interest rates are going up which means rates on the bonds are going up which will likely hurt stock yields for the future. People tend to realize from 2012-2020 was the biggest bull run in history and one of the drivers was 0% interest rates. The new target for interest rates is going to 5% which is the highest its been in 20 years.
BringItBoy t1_iuihkra wrote
Reply to I have 5 credit cards. Will taking out a small personnel loan help my credit score or is it not worth it. Buying a house 75% down in 24 months is the primary reason. by [deleted]
The oldest account might be the biggest issue not the amount at this point. But being able to put 75% is great. Definitely do not apply for a loan while unemployed.
BringItBoy t1_iuih1bh wrote
Reply to comment by spaceflamingo3 in Where should I put my money? by spaceflamingo3
Are you saving or investing? It sounds like you just want to invest and whatever you have in your investment account you will put towards a house.
BringItBoy t1_iuig6ld wrote
Reply to comment by spaceflamingo3 in Where should I put my money? by spaceflamingo3
You can choose to put into broad index funds but no guarantee that it moves up. While the SP500 has averaged over 10% for the last decade does not mean it will do it again for this coming decade. If you want to be safe with your house fund then choose a more conservative option.
BringItBoy t1_iuiff4i wrote
Reply to Where should I put my money? by spaceflamingo3
5 years for stocks is risky in my opinion. You have no idea what could happen in that time. Bond rates have gone up on the other hand so maybe instead of an HYSA for those by short term bonds.
BringItBoy t1_iuiem3n wrote
Reply to comment by SprayBubbly2506 in Will I have to pay capital gains tax? by SprayBubbly2506
Yeah you need to live there for 2 years before you do. I guess its to tax home flippers and people like that.
BringItBoy t1_iuidswl wrote
Reply to Will I have to pay capital gains tax? by SprayBubbly2506
You can only use the exemption every 2 years so no you will have to wait.
BringItBoy t1_iuictj0 wrote
Its best to wait 6 months in-between as opening up 2-3 within say 6 months will drop your score by quite a bit and make the chances of you getting the next card lower. If you get denied you might still have the hard credit pull on your report for 2 years regardless of if you get the card.
BringItBoy t1_iuik7zk wrote
Reply to comment by CoachK3 in How much to save from 1099? by CoachK3
A 1099 just means you made misc. income which is just income for yourself. What is your tax rate usually? Base it off that of course after deductions and other things.