Ninja
Hello,
I am trying to get a handle on my current financial situation so that I can best plan for the future....
I am 25, single, no kids. I make 108k/year for salary, plus I landlord one house-- just make $200/month with that. I also have an income-earning hobby on the side, so all told my income is probably about 110-115k/year. I am about to try to finish my undergrad by going to a state school online, half time, at an out of state school (I am a TX resident, school is U of Maryland online). School will take me 3 years to complete at planned pace (already have a year and a half-ish done from taking online courses while in the Army).
To finance this, I will use my GI bill and I have talked to 2 companies that said that they will pay my tuition if I work for them (which I understand is tax free up to a bit over 5k). If I take one of those jobs, my salary will drop to around 90-95k/year not including tuition (but that is ok with me because of location).
Question is-- I would like to put money into some sort of tax-advantaged account to use for misc school expenses or for my masters. But, I would like to be able to use it for retirement or for my hypothetical future children if I don't use it. I am thinking of a lump sum of about 20-30k. Does such a fund exist? And if I were to contribute a lump sum, would it put me in a lower tax bracket?
Thanks in advance. *~N~* :o
I am trying to get a handle on my current financial situation so that I can best plan for the future....
I am 25, single, no kids. I make 108k/year for salary, plus I landlord one house-- just make $200/month with that. I also have an income-earning hobby on the side, so all told my income is probably about 110-115k/year. I am about to try to finish my undergrad by going to a state school online, half time, at an out of state school (I am a TX resident, school is U of Maryland online). School will take me 3 years to complete at planned pace (already have a year and a half-ish done from taking online courses while in the Army).
To finance this, I will use my GI bill and I have talked to 2 companies that said that they will pay my tuition if I work for them (which I understand is tax free up to a bit over 5k). If I take one of those jobs, my salary will drop to around 90-95k/year not including tuition (but that is ok with me because of location).
Question is-- I would like to put money into some sort of tax-advantaged account to use for misc school expenses or for my masters. But, I would like to be able to use it for retirement or for my hypothetical future children if I don't use it. I am thinking of a lump sum of about 20-30k. Does such a fund exist? And if I were to contribute a lump sum, would it put me in a lower tax bracket?
Thanks in advance. *~N~* :o