Over_Island7030
Over_Island7030 t1_j0g9hc5 wrote
Reply to comment by TwoCats_OneMan in Monthly Discussion Thread - Month of December, 2022 by AutoModerator
Parking around penn station is very expensive. I want to find a place where monthly parking is a bit cheaper (possibly by a subway that goes to penn station). My workplace is directly next to the Penn station. This is very much NOT a sarcastic question.
Queens, Brooklyn, and SI are out of the question bc it’s too far away from me. I’m from upstate.
Over_Island7030 t1_j0d9g34 wrote
Hey guys, I’m trying to find monthly parking in manhattan that is close enough to a subway that goes directly to the Penn Station (or 7 train). Any recommendations? Maybe something significantly lower than $600/mo, and maybe north of Midtown.
Over_Island7030 t1_iyf2hmk wrote
Reply to comment by Fitgiggles in Best long term investment/financials for kids by Fitgiggles
A 529 is not a use-it-or-lose-it type of account! As far as I’m aware, all contributions you make can be taken out penalty-free. Any earnings you take out for non qualified expenses will be treated as income tax (just like a normal, taxable brokerage account) plus 10% penalty. This means that you can withdraw for whatever reasons.
The benefit of a 529 is that any growth in investment value can be used to pay for educational expenses tax free. Depending on your tax, it’s sort of like getting a 30% discount on education expenses.
You can create a brokerage account just for investing (many of the brokerage firms I listed have automatic investment options) but do be aware that you will pay taxes on all withdrawals related to earnings.
Over_Island7030 t1_iyey58n wrote
I’d say create a 529 account on a brokerage firm (like Fidelity, Charles Schwab, etc) and put your money in there. It is safer to invest in broad-market ETFs and low-cost mutual funds if you are starting early - 18 years is a lot of time for compounding. Switch to certificate of deposits or bonds when they get older.
Over_Island7030 t1_j0hypux wrote
Reply to comment by Crimsonwolf1445 in Monthly Discussion Thread - Month of December, 2022 by AutoModerator
I have to pay for parking by the MNR anyway. It’s $15 a day, and they’re out of permits. MNR is $9.2 each way with the 20-ticket pass, and I have to pay 2.75 for the subway from GCT to Hudson Yards. So, it costs me about $39 per day I commute (I come a few times per week).
I want to come to the office more often, so I feel like getting monthly parking in upper manhattan could be worth it, if it’s like $300/mo? I would definitely skip the tolls, and only have to pay $5.5 for the subway.