Realticule
Demands thhrang stays atleast 300 yards away.
Early Adopter
I CAN STILL FIX HER
✡︎ God's Chosen Schizo ✡︎
Joined:
Sep 11, 2022
Ok, then she should look into Form 8880 an IRS filing that provides government funding matching to an IRA account.It would be actual advice for her. Remember, this is the projects thread, we're trying to think of something we can collectively throw the forum's effort behind for her like we did last year with the cookbook. Thomas Talus brought up this idea earlier. There's no guarantee this is what this year's project will actually end up being, but I'm trying to at least gauge interest in this to see if it's feasible or desired, because I don't want this sneaking up on us again like the cookbook did last year for the debut anniversary in June.
You have to meet a certain threshold of AGI that's low but she can funnel money into expenses via Phase to lower her AGI and probably has deductions she can make as self employed and as an entertainer that would reduce her AGI. The IRS will literally throw one to two thousand in IRA contribution matching, and your contribution is deductible when calculating AGI.
Also, dump your IRA in low expense ETFs like the SPYD, SPY, or others and ignore their movements until you retire. It's not ideal, but it's very normie friendly.