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A lot of Cash leaving the bank account today...

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  • A lot of Cash leaving the bank account today...

    I planned ahead for all of this, but I was just surprised how much cash left my bank account today...
    A) 529 for both kids (15k each)
    B) 2021 Q4 estimated quarterly tax payment
    C) iBonds 10K each for my wife and I
    D) all of my 2022 After-tax 401k to be rolled over to Roth for MBDR in the next few days when account settles [19k this year]
    E) a couple of other misc expenses that hit today

    These are very good 1st world problems to have. I am thankful.

  • #2
    This is an excellent way to pay yourself first, Literally!

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    • #3
      Originally posted by Notsobad View Post
      This is an excellent way to pay yourself first, Literally!
      Minus the quarterly taxes.

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      • #4
        Similar:
        1. BD Roth
        2. I bonds
        3. quarterly taxes
        4. HSA

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        • #5
          one goal i have yet to achieve is truly have a large stable cash cushion to where things like this don't hurt a little bit

          still, it's a good hurt like the day after leg day.

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          • #6
            I only need to fund my quarterly taxes and Ibonds.

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            • #7
              wow and you didn't even cover the backdoor Roth

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              • #8
                I did BDR and I was going to do Ibonds as well but I might wait until closer to the end of the month just because I can!

                529 I do monthly

                HSA comes out of my paycheck so I fill it up with my first couple in this new year.

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                • #9
                  Originally posted by Lordosis View Post
                  I did BDR and I was going to do Ibonds as well but I might wait until closer to the end of the month just because I can!

                  529 I do monthly

                  HSA comes out of my paycheck so I fill it up with my first couple in this new year.
                  yep, buy ibonds end of month and don't pay taxes until due = 6 weeks more interest, better than a kick in the teeth

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                  • #10
                    Can someone educate me on deciding to purchase IBonds? Is it just to keep emergency funds in or is it because inflation is high right now (or some other reason)?

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                    • #11
                      See ibond threads. Yes, inflation for now and foreseeable rises in rates that bonds will peg onto. The rates will eventually catch up so have to know your thresholds for exiting, if any.

                      No property taxes for anyone? Thats the biggest line item for us in Dec+March. Bookends all the expenses

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                      • #12
                        Originally posted by StarTrekDoc View Post
                        See ibond threads. Yes, inflation for now and foreseeable rises in rates that bonds will peg onto. The rates will eventually catch up so have to know your thresholds for exiting, if any.

                        No property taxes for anyone? Thats the biggest line item for us in Dec+March. Bookends all the expenses
                        I paid my property tax last month. $4000.

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                        • #13
                          Originally posted by StarTrekDoc View Post
                          See ibond threads. Yes, inflation for now and foreseeable rises in rates that bonds will peg onto. The rates will eventually catch up so have to know your thresholds for exiting, if any.

                          No property taxes for anyone? Thats the biggest line item for us in Dec+March. Bookends all the expenses
                          our property taxes are due Oct and May

                          Comment


                          • #14
                            I think you can increase your 529 to 16k each parent/kid in 2022. Just in case you still have another 4K to spareā€¦

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                            • #15
                              Originally posted by StarTrekDoc View Post
                              See ibond threads. Yes, inflation for now and foreseeable rises in rates that bonds will peg onto. The rates will eventually catch up so have to know your thresholds for exiting, if any.

                              No property taxes for anyone? Thats the biggest line item for us in Dec+March. Bookends all the expenses
                              January and October. October being the big one with school taxes.

                              Comment

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