Feb. 20th, 2013

alexseanchai: Supernatural's Crossroads Demon from 3x05 (brb selling soul)
[personal profile] alexseanchai
Dear Mother, the correct response to 'hey, you used to have a personal finance qualification, can you check my math on the taxes on this paycheck vs the preceding paycheck, how come my estimate is so off' does not actually include 'maybe you should buy less junk food and do less online shopping'. That just makes me want to BUY ALL THE THINGS.

Actual answer appears to be 'payroll taxes went up' with a side of 'reinstate the automatic deduction for retirement savings, it actually will do you more good accumulating interest than reducing the credit card interest you need to pay'. On that subject, she went on for a while about Roth IRAs--does anyone have a compare-contrast for Roth IRAs vs 457(b) accounts? Or vs 401(k) accounts, I'm pretty sure 457(b)s are like 401(k) accounts in all the ways except whether the owner is a public- or private-sector employee. I know 457(b)s get taxed when the money comes out, Roth when the money goes in, which I think means the difference between 'money I put into account' and 'money in account' is taxable with 457(b) but not with Roth...


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