Moving States in a Tax Year
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
10 min
4 speakers
1 chapter
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
Hey, this is Daniel. Thanks for listening to DIY Money. If you haven't already, be sure to give us a five-star review on iTunes so your friends know that they can learn from the show. Now, enjoy the show.
Welcome back. Ladies and gentlemen, you're listening to another edition of DIY Money. DIY Money. A. Howard in the house. What's up, Quint? What's going on with you?
Q and A.
I just got a text about my car and now I'm stressed.
Yeah, you should be.
Logan has the worst car look of anyone I know and he's rubbing off on me and I don't like it, Quint.
Well, you go through seasons. What's going on with your automobile?
Oh, same kind of thing from last year. If you're out there and you know cars, tell me what to do because my engine oil, it drains quickly. I don't know that it's... I think it's leaking, but I don't think it's like the this is terrible leak because last time they figured out... Some screw on the timing belt cover, I'm just quoting what they said, I don't understand it, was loose. So they tightened it and it fixed it for like months. And then it came back on today.
The engine broke. We can fix it for you. It's going to ruin your body.
And this is the automobile that you picked up where you barely escaped death.
Yes, when I got in the car with a stranger.
Got in the car with a stranger. Yeah, it was a tragic thing. Yeah, but do they have a warranty on this? If there's any major issue here, do they have a warranty?
No.
We've been trying to reach you about your car's extended warranty. Is this a good time? No. Okay.
Well, they offered me a warranty and I declined it. Yeah. Because it's a used car. Things are going to go wrong.
Things are going to go wrong.
Anyway, so hopefully I don't owe a gazillion dollars to get my car fixed.
Well, fingers crossed on that. This will be released, it looks like, in the beginning of April. We don't normally do this, but I want to just take a sidebar here and have everybody take a deep breath. take a deep breath and if you're listening and going what is he talking about well i'm talking about your portfolio because unless you've been living under a rock you will know that stocks have been under pressure for the last couple of months it's not been great in fact it's one of the first negative quarters we've seen in the last year and a half which is crazy to me to think about but the This comes with the territory. This is all part of it. We don't know the reason why when it transpires. We never, oh, you know, we talked about times are good and, you know, making sure you enjoy it and so on and so forth.
We never know what the reason is or the catalyst that's going to spark a decline. But inevitably it happens. And here we are. And so we're in a decline right now. Markets are really in turmoil, if you will, and it's all due to uncertainty. But if you have a long term time horizon and or an appropriate allocation, even if your time horizon isn't that long. Again, this is a time to take a deep breath. Do not change your plan. You are getting better prices if you are dollar cost averaging through your 401k, your IRA, et cetera. And Maurice, I'm talking to you, big dog. Don't change. Your strategy, your long-term plan. My running buddy said, you know, you never say my name. You always just say my running name.
So now I'm saying his name. I'll call you back. I'm not saying it from a running perspective. I'm saying it from an investment perspective. But he's not alone in his concern, I'm sure. Take a deep breath, stick to the course of action, and all will be okay. There will be another time we will be coming back to you. I don't know if it's weeks, months. It could even be years. that we were coming back and saying, oh, look, wasn't that great to be patient? Because here we are now back at highs. All right. Let's roll right into our question today. We got a good one from Willie. Willie, what do you got?
D-I-Y.
Greetings, this is Willy from New York. In the summer, I will completely move to Indiana and keep my current job. For next year's taxes, I expect my W-2 to have data for both states.
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