Monarch: A Premium modern budget and investment tracker. It runs $14.99 per month and there are a lot of things I really like about it. Still some pure budgeting gaps in how I like to manage my cash flow but it is awesome to see the progress in this space. Really enjoy the forecasting of recurring income and expenses. https://www.monarchmoney.com/referral/j9nq27cdkr (You get an extended 30 day trial with this link vs the standard 7, i'll also get an extra free month if you end up purchasing).
Pylon: This is a different beast. Super interesting app that combines what Monarch has in many ways with an actual CFP you can reach out to, setup time with, and ask in-line questions. $49 per month. Really liked being able to have a CFP look over my actual expenses and suggest changes to my budget and how to better structure my goals (FIRE, relocation, educational saving). They also do a lot of very very interesting things around shared account access. Where each member in your family can have an account (Monarch has this piece) but you can also give specific access permissions to your personal accountant, cfp, financial coach... Interesting approach coming from a different angel than most other with the CFP built in, similar to New Retirement but focused on the younger mid-career high earner. https://www.hellopylon.com/.
Thanks for making a post about double dipping 401k after tax converted to roth. I recently changed jobs and that post educated me about this feature to be able to contribute more to Roth
Awesome, glad to hear it helped. I had a few CPA and CFPs that needed to double check things because they initially thought I was wrong but came back around! I think the FIRE savers are edge cases on top of after-tax prevalence being more recent.
Yes, as written the ability to contribute to the max to multiple after tax 401ks is possible without additional tax implications (i'll caveat to talk to an accountant if you want iron clad validation).
Do you have any experience with Tiller? I want to start tracking & budgeting and am researching different solutions. YNAB seems very established and well reviewed, but I am also fascinated by the spreadsheet integration of Tiller. Would love to know if people have any experience with it.
I personally have not used Tiller but know a few people who have and say good things. Particularly good if you have an existing spreadsheet based system that you are really attached to but want more automation.
Ooh interesting on the apps you’re testing. I’m a long time you need a budget user and use wealthfront for some projections. I also pull out a spreadsheet or two. The one thing I haven’t found a good solution is to modeling out the costs of kids. For example, we’ll only need to pay full time childcare for a couple of years. Other than manually accounting for those medium term costs I haven’t seen a solution that covers that. Any apps that you’ve seen cover these costs?
I keep coming back to YNAB for my core budgeting needs. I am a big fan and would recommend it to anyone getting started that wants to be intentional about their spend. https://ynab.com/referral/?ref=dlZBniVzyFfkv4VA for those who are have not used it. You get a 34 day free trial which is great to take it for a spin over a full month.
On fine tuned projections with changing spend it gets tricky. You have some of that in wealthfront with their retirement projections but you don't get the exact output.
I have seen something close to what you are wanting in New Retirement which is another program I really like. You can time box expenses. Or treat it more as "one time expenses" in the years where the costs would be higher.
The two apps I am in the middle of testing:
Monarch: A Premium modern budget and investment tracker. It runs $14.99 per month and there are a lot of things I really like about it. Still some pure budgeting gaps in how I like to manage my cash flow but it is awesome to see the progress in this space. Really enjoy the forecasting of recurring income and expenses. https://www.monarchmoney.com/referral/j9nq27cdkr (You get an extended 30 day trial with this link vs the standard 7, i'll also get an extra free month if you end up purchasing).
Pylon: This is a different beast. Super interesting app that combines what Monarch has in many ways with an actual CFP you can reach out to, setup time with, and ask in-line questions. $49 per month. Really liked being able to have a CFP look over my actual expenses and suggest changes to my budget and how to better structure my goals (FIRE, relocation, educational saving). They also do a lot of very very interesting things around shared account access. Where each member in your family can have an account (Monarch has this piece) but you can also give specific access permissions to your personal accountant, cfp, financial coach... Interesting approach coming from a different angel than most other with the CFP built in, similar to New Retirement but focused on the younger mid-career high earner. https://www.hellopylon.com/.
(Non-Sponsored)
Thanks for making a post about double dipping 401k after tax converted to roth. I recently changed jobs and that post educated me about this feature to be able to contribute more to Roth
Awesome, glad to hear it helped. I had a few CPA and CFPs that needed to double check things because they initially thought I was wrong but came back around! I think the FIRE savers are edge cases on top of after-tax prevalence being more recent.
Awesome. By come back around you mean its okay from taxation perspective as per the CPA and CFP right ?
Yes, as written the ability to contribute to the max to multiple after tax 401ks is possible without additional tax implications (i'll caveat to talk to an accountant if you want iron clad validation).
Same here I found this really helpful! Starting my new job in Nov. Thank you Andre!
Do you have any experience with Tiller? I want to start tracking & budgeting and am researching different solutions. YNAB seems very established and well reviewed, but I am also fascinated by the spreadsheet integration of Tiller. Would love to know if people have any experience with it.
I personally have not used Tiller but know a few people who have and say good things. Particularly good if you have an existing spreadsheet based system that you are really attached to but want more automation.
Ooh interesting on the apps you’re testing. I’m a long time you need a budget user and use wealthfront for some projections. I also pull out a spreadsheet or two. The one thing I haven’t found a good solution is to modeling out the costs of kids. For example, we’ll only need to pay full time childcare for a couple of years. Other than manually accounting for those medium term costs I haven’t seen a solution that covers that. Any apps that you’ve seen cover these costs?
I keep coming back to YNAB for my core budgeting needs. I am a big fan and would recommend it to anyone getting started that wants to be intentional about their spend. https://ynab.com/referral/?ref=dlZBniVzyFfkv4VA for those who are have not used it. You get a 34 day free trial which is great to take it for a spin over a full month.
On fine tuned projections with changing spend it gets tricky. You have some of that in wealthfront with their retirement projections but you don't get the exact output.
I have seen something close to what you are wanting in New Retirement which is another program I really like. You can time box expenses. Or treat it more as "one time expenses" in the years where the costs would be higher.