Real Money Habits

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How Long Does It Take to Save a 20% Down Payment on a $320,000 Home Making $75,000 a Year?

Real Money Habits Editorial Team / September 6, 2026

The 20% down payment target on a $320,000 home means saving $64,000 — and at a $75,000 salary, that timeline ranges from 2.5 years (if you save aggressively) to over a decade (if you don’t). Here’s an honest breakdown of the savings math at different monthly contribution rates, whether waiting for 20% actually beats buying now with 5% down and paying PMI, and a five-step savings plan that actually works — including the one move that matters more than any budgeting hack.

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Retirement

Solo 401k vs SEP-IRA: Which Is Better for a Self-Employed Person, and How Much Can You Actually Contribute?

Joe L. / September 5, 2026

A self-employed person with $80,000 in net income can contribute roughly $38,000 to a Solo 401k but only about $16,000 to a SEP-IRA — on the same income. Most people pick the SEP because it’s simpler without realizing they’re leaving more than $20,000 in annual tax-deferred contribution room on the table. Here’s the complete comparison: contribution limits at different income levels, the Roth advantage the SEP-IRA doesn’t have, the backdoor Roth complication that makes the SEP a trap for some investors, and a clear decision framework for choosing the right account.

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Getting Started

How to Ask for a Raise When You Haven’t Had One in 3 Years

Real Money Habits Editorial Team / September 4, 2026

If you haven’t negotiated your salary in three years, inflation has almost certainly cut your real purchasing power whether your paycheck went up or not. The money you haven’t asked for is sitting in your employer’s budget. Here’s a practical framework — including what to research, when to ask, exactly what to say, what to do if they say no, and how not to let lifestyle inflation absorb the raise once you get it.

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Retirement

Should a 62-Year-Old Retiree Invest for Dividends or Total Return? An Honest Answer

Joe L. / September 3, 2026

The debate between dividend investing and total return is one of the most emotionally charged in retirement planning — and it has a real answer. Total return wins on the math. Dividends win on the psychology. Here’s what actually matters for a 62-year-old deciding how to structure their portfolio, including the sector concentration trap most dividend investors walk into, the tax math during the pre-Social Security window, and the cash buffer strategy that solves the behavioral problem better than any yield-chasing approach.

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Budgeting

How Much Does a Baby Actually Cost in Year One? A Real Budget Breakdown

Real Money Habits Research Desk / September 2, 2026

The USDA’s average figure for raising a child spread across 17 years hides the reality: year one front-loads the costs in ways most expecting parents don’t see coming. Full-time daycare can run $14,400 a year before you buy a single diaper. Here’s the complete category-by-category breakdown — childcare, medical, feeding, gear, diapers, clothing, and lost income — with two real budgets showing what the numbers actually look like depending on your situation.

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Retirement

How Much of My Portfolio Should Be in Bonds at 55, 60, and 65? An Honest Answer

Joe L. / September 1, 2026

The old rule of subtracting your age from 110 to find your stock allocation was built for a generation that retired at 65 and died at 72. Today’s 60-year-old needs a portfolio to last 25-30 years — and being 50% in bonds at 60 is a quiet way to underfund that runway. Here are the allocation targets that actually make sense at 55, 60, and 65, plus the income-source variable that changes everything.

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Budgeting

What Is a Sinking Fund and How Much Should You Set Aside Each Month for Car Repairs, Home Fixes, and the Holidays?

Real Money Habits Editorial Team / August 31, 2026

A sinking fund is money you set aside in advance for expenses you know are coming — car repairs, home maintenance, holiday gifts, annual insurance bills. Most families absorb these costs through credit cards and emergency fund raids. Here’s how to set up sinking funds, how much to put in each one, and why the total surprises almost everyone.

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Retirement

What Is a Roth Conversion Ladder and Can It Help Me Retire at 55 Without the 10% Penalty?

Joe L. / August 30, 2026

If your retirement savings are locked in a traditional IRA or 401k and you want to retire before 59½, a Roth conversion ladder may be your best tool for accessing that money without the 10% early withdrawal penalty. Here’s how it works, what it costs in taxes, and why you need to start it five years before you need it.

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Debt and Credit

Should I Pay Off My 6.9% Car Loan Early or Invest the Extra $300/Month?

Real Money Habits Research Desk / August 29, 2026

At 6.9%, the math on paying off your car loan vs. investing the difference is genuinely close — and most articles won’t tell you that. Here’s the actual interest savings calculation on a $17,400 remaining balance, what $300/month in VTI would actually grow to over 36 months, and the four factors that should tip your decision when the rates are this close.

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Retirement

I Inherited a $180,000 IRA From My Parent — What Is the 10-Year Rule and How Do I Avoid a Massive Tax Bill?

Joe L. / August 28, 2026

The SECURE Act replaced the old stretch IRA with a 10-year depletion rule — and most adult children who inherit a parent’s IRA have no idea it exists until they’re already in trouble. Here’s what the 10-year rule actually means, why the difference between taking all $180,000 in year one vs. spreading it out can cost you $20,000–$35,000 in unnecessary taxes, and the four things to do in the next 30 days if you’ve recently inherited an IRA.