Can someone help me understand how backdoor Roth works in my situation?

I contribute the $19.5K max to a 401K each year. Would backdoor Roth be (A) the ability to roll $6K of that $19.5K into a Roth? or (B) an incremental $6K that I could contribute to a separate IRA then backdoor into a Roth?

Asked another way, does backdoor Roth allow me to actually contribute $25.5K each year, or does it just allow $6K of my $19.5K contribution to build in a Roth?

Thanks!

Is it too late in our lives to jump into a mortgage?

So my fiancée and I are relatively late in terms of finally landing well paying jobs and being able to save money instead of living paycheck to paycheck. We’re both 36 and currently rent a 2 bedroom in NY and have a combined savings of $35,000 which she wants to use as a down payment on a condo. I kinda just wanna continue saving while renting. I also literally just started contributing to my 401K so I’m also late in the game for that too.

Anyone know what “premium cash pay” means on a check? I randomly just got 717$ on my check unexpectedly for that allocation.

I have been recently selected in Virtusa and in the compensation there are components like Internet reimbursement, LTA, food reimbursement.
Could anybody please help me to understand will these components be paid out to me monthly or will be only provided if i submit the proofs for the particulars.
Also is the food reimbursement offered in the form of monthly Sodexo coupons?

Anyone have any good alternatives to Panerai Radiomir? Trying to keep my next purchase under $1k

Bought my 911 last year for ~$120k. Only put 4,000 miles on it and seeing online values in the ~$130k range. Am I crazy for considering selling it? She's in perfect condition (even though she's my daily)

Hey Sharks, I want to opt out from my LTA & Telephone benefits. When and how can I do it.

Also I have doubts regarding my compensation structure, whom should I connect with, please guide.

Do big4 directors retire with the same benefits as partner or some other?

When is a good time to start looking to buy a house if you are currently renting? Like 1-3 months before your lease is up? My fiancé and I don’t want to rush the home buying process, but wanted to see if anyone has experienced this and their thoughts if they would have done something differently.

Employer is 100% sponsoring MPH and decided to take it to further expand network and it's decent (T20). Wondering if Epidemiology or Healthcare Management would be a better concentration? I'm currently in pharma and the goal is at graduation I'll have a good amount of experience and a little bonus (MPH) to be competitive for experienced hire roles. ZSers, what are your thoughts?

I'm a senior and started out over a year ago. What would be some good low risk investment options? Have about $15k to invest. Open to investing in India or in the US too. (No crypto pls)

Hi fishes ,

I received an offer for senior manager position in PWC .

Can you please let me know about the health insurance coverage as it is not mentioned in offer letter.

Please also inform if parents can be included in health insurance provided by PWC.

Can we just take a moment to recognize how great of a human being Dolly Parton is. She knows how to do good with her wealth.

New to options on fishbowl - I have a call itm with Robinhood that expires tomorrow. If I don’t sell it, what happens? Will they exercise or am I better to sell it?

Best credit cards for a non-road warrrior after CSR and Amex Plat changes? I think Amex Gold and the Chase Flex are pretty good - do not think CSR and Plat are worth it anymore

Hey there, new and curious fish. Are you considering a position in pharma? Worried about how creative you can be? Thinking if the salary is worth it? Ask your questions about entering the world of healthcare advertising here and we’ll answer.

In my market, you have to waive financing and mortgage contingency to even be considered. Annoyed this is now common practice. 😞

Words to say, questions to ask, things to do when a client who moved their money to year exactly one year ago, blind sides you with ACATS out after you’ve made 13.7% because he is conservative? GO!

Should I continue to live at my parents house in the Midwest as things start to open back up or move back to my assigned office city on the east coast? I’ve been saving a lot of money, but I don’t have any friends out here in suburbia. I’m only 25, no student loans, and kind of want to live the city life and make some friends, but I’m hesitant because this high savings rate is really nice and my project at work would be remote even without covid, so I don’t HAVE to move out anytime soon

Keyboard shopping. Requirements: wireless, ergonomic, rated well, bottom left corner must be ctrl key, must have F4 key (none of that fn+ bs). Am struggling

Anyone else’s portal showing transcript “unofficial” even though you already submitted the official transcript?

In the context of being a Front end developer what cloud technologies/services should I know? Feel free to comment about the servieces of any cloud you know.

Hi Fishes , 10% of ctc in JIO is variable. On what basis that variable pay is paid and what is the frequency of variable pay ? Can anyone from JIO please give some insights on it ?

Jio
Reliance Industries Limited Reliance Jio Infocomm Limited Reliance Retail

Best books on entrepreneurship? Trying to find a good birthday gift for a friend thinking of starting his own company and exploring business ideas

Hi all,
Need likes to start chatting with individuals in group

How do you know if you’re attractive?

Hi All,

I am a big data Engineer with a total experience of 4.5 years. My current CTC is 13.95L and fixed is 11.53 L
What would be a fair ask from other organisations with 4.5yrs of experience?

Thanks in advance

So my project is getting transferred to another company
We are informally asked to start searching for new jobs

Need leads on SAP Fico jobs for over 1.5 years experience

New to the city and looking for people to hang out with!
23F, if that matters!

I wanna be distracted from .. whatever admin work I am doing now. How was everyone’s day?

Has anyone made (or know someone) who has made a switch to a strategy or project mgmt role in pharmaceuticals?

Is it hard to move around in Detroit? Do people stay at an agency for 3+ years and then move?

It’s acceptable to move around every 1.5 years in NYC. Afraid of being locked in for long periods.

What exactly is well being subsidy ? Is it yearly or one time? What can you get reimbursed for?

Hey Guys, Currently I am having 16.12 lac pa in current organization and 5% Bonus So total comes around 16.93lac pa. Nagarro is asking me to rejoin at 20 lac pa (5% Project bonus included).
When I left Nagarro around 2 years back my fixed there was 11.50. Shall I consider this offer of Nagarro. Reason I want to change the job is because I don't have code based automation in my current organization and I have been an SDET in my whole experience.

It feels very telling that there are so few people in this group. Any thoughts on that? It feels like the vast majority of people managers only want the title and don’t want to worry about their people.

In your opinion which is the best target fund to choose in IRA Roth?

Have an acquaintance who is a single mom; she purchased a used car 3 mos ago. Six wks later her 17yo wrecked it, air bags deployed, and estimates have ranged between $10-$18k in needed repairs while $21k is still owed. Acquaintance was switching insurance policies and flubbed the coverage dates and there were a few days where the vehicle was uninsured. No GAP insurance. I'm not seeing many options for her besides to continue pmts, fixing just enough to drive or voluntary repo. Thoughts?

I’ve always been a big saver minimum 15% to maxing out my 401k since I graduated college. I’m married to someone who thinks 6% is enough and likes $$$ cars. Other than the cars, they dont really spend money. For the married 🐠, how do you have the conversation with them that what they are doing isn’t enough? I try to guide them and say you want the $$$ cars but the salary you have won’t get there and you’re going to have to find a job that gets them the salary…. Then the fight starts.

Tips for refinancing a car I’ve had for 6 months. I’ve paid on time for every month but I’m paying $600/mo on a loan with 15% interest? I owe $25K. Will the original bank, Chrysler Capital, consider it or do I need to find another organization?

Google stock to buy now or after the split?

Invest in roth 401k or traditional 401k and save the difference for a house downpayment?

Currently am contributing money into both 401K and Roth 401K. Should I also open up a Roth IRA?

I spent the last 3 months "growing up" & now I'm ready to go. 1st thing is for me to get my own place. I'd like to buy instead of rent because I don't want to pay someone else's mortgage.

I'm thinking of selling my car & cash out some of my 401k to buy a house. My thought is to put down 3.5% for a FHA loan then make a big payment towards the principal to reduce long-term interest.

Anything wrong with this thinking or anything else I should consider?

I recently joined a company after being self employed. I’m on hubs’s health insurance. We have no kids. It’s United healthcare. The company offers United as health insurance. What’s the best way to compare plans? I have not been in this situation before so apologies in advance if this is a dumb question.

What do you think are missing from the personal financial management apps such as emma, yolt, cleo

For those of you that currently pay 30% of gross income towards rent, do you still have money to save? I’m moving to NYC and am used to paying only 15%. Pay is now 125k base so I’m looking for apartments around 2800-3k

What are your thoughts on buying a house now and refinancing later? (Hopefully when interest rates are lower)

26 YO, make make roughly 130k TC and really wanting to get the new 2022 Accord Hybrid Touring trim. Great MPG and reliability. MSRP is just under 40k for the top trim. Good financial move or should I go with a lower trim such as the EXL or Sport which come in around the mid 20k-low 30k area.

Say you have $1mm in cash, is it plausible to put it all in a HYSA and take the monthly interest payments as income at say 3% APY and then quit your job?

Theoretically*

I am 25 years old with roughly no savings. I am a consultant with a technical background. Are there any tips in side jobs/ways to make more money for savings?

Rolled my old 401k over to a rollover IRA under the same brokerage and lost some money. What the hell did I do wrong? It was a direct rollover btw

Have you ever worked with a financial coach? Did you find it helpful?

QQQ vs VOO?

I make 135k gross/year & am looking at apartments in a tier 2 city. 2k for a 1 bedroom or 3k for a 2 bedroom? I’ll be working from home and living by myself & a pup. The hesitancy is 3k is basically one of my paychecks after taxes. I live frugally otherwise with the exception of eating at a nice restaurant once a week. Is a two bedroom worth it?