Personal Finance Weekday Help Thread for the week of November 27, 2017 |
- Weekday Help Thread for the week of November 27, 2017
- 40, single. Laid off after 20yr. No savings. No income. Physically unable to leave house. Have 401k and a house I'm still paying on. Can I make anything out of my situation or is this it?
- Debt collector attempting to collect a 10,000 debt but isnt willing to accept my minimum payment. any advice would be appreciated.
- I am 30 with no good job prospects; what can I do to improve mine and my son's future?
- Wells Fargo “updated” my escrow account. Make sure they didn’t update yours too!
- Why aren’t there many discussion about not earning enough?
- Letting a homeless veteran stay in my condo for free...is there a way to write that off on my taxes as a donation?
- Pay off school loans or not?
- My dad passed away with an out of state Colorado timeshare with $9k+ in dues. It was never used, how do I get rid of it without paying anything or little to nothing?
- (USA) My husband's ex filed FAFSA and did not include him on it, even though he/we provide most financial support.
- I was offered a raise at work - either an additional $2/hr, or 50% of the profits quarterly. What should I take?
- Family of 6, health insurance woes
- How to raid 3-decade-old Vanguard account without being ruined by taxes?
- Bank Didn't close credit card when I asked: 6 months later notice auto-renew charges 2-3 months late
- Should i cash this check?
- Volkswagen got recalled. Promised settlement of $18,000 never acted upon. There’s nothing else we can do and the online portal shows that Volkswagen has to process our forms and then we’re good to go, except they’re not doing anything.
- Tax information emailed to "Gmai.com"
- Is there a way to donate directly to someone's medical debt?
- Should I max out my Roth IRA for 2017?
- About a month ago I put down a hold for an apartment, if the landlord made changes to the deposits and fees can I back out and still get that hold back?
- Hospital fighting me every step of the way for financial assistance. Student w/child, barely making ends meet. I'm at my wits end.
- My mom said it's bad to claim 4 allowances on my w4.
- Tried to do a backdoor Roth. Turns out tIRA earned 12 cent interest so now I have Roth of $5500 and tIRA of $0.12. Am I screwed?
- We have two years to dig ourselves out of the hole we've dug, and I don't know where to start.
- Little sister banks where evil stepmother works and father is somehow on the account and they're monitoring her spending without her consent.
| Weekday Help Thread for the week of November 27, 2017 Posted: 27 Nov 2017 05:08 AM PST If you need help, please check the PF Wiki to see if your question might be answered there.While we never remove posts just because a question is answered in the wiki, this thread is a low-key place to ask any question no matter how "moronic" you think it might be. Make a top-level comment if you want to ask a question! Also, please don't downvote "moronic" questions! If you have not received your answer within 24 hours, you can feel free to start a discussion. A big thank you to the many PFers who take time to answer other people's questions! For past help threads, please search the Weekly Archive. [link] [comments]  |
| Posted: 27 Nov 2017 07:03 AM PST I hate to share a sob story, but that's what I've got and I need to pick brains for ideas I may be missing. I am a 40yr old guy. After 20 years with the same company, I was just laid off from my Senior Technical Analyst / Senior Technical Support Engineer position. A few years ago, I began to have severe trouble with my back to the point I could not even navigate my own home. This did not affect my work, however, because I was already telecommuting full-time (and have my entire career). Finding a similar job is proving difficult, given the limitation that I can not leave my home for an interview or for the actual work. (And mind you, there is no reason my position can not be fully performed remotely). Unless a job specifically announces it is remote work, I'm not sure how to squeeze into it anyway, and ask for my need to be treated as a "reasonable accomodation". I am perfectly capable of doing the work I've done for the last 20 years. Literally the only thing holding me back is an employer's unwillingness to set me up with a PC, VPN, and phone remotely. INCOME / DEBT: At the moment, nothing. Some 'unemployment' payments should be coming in for a little while, but that's it. I should have a little money coming in from being laid off and it'll be just enough to pay off my $6k in credit card debt. My income up until this point was a base salary of about $86k, but with shift-work and on-call pager-duty, was about $135k this year. SAVINGS: I have $190K in a 401k and $10k tied up in a Prosper account. The 401k has an outstanding $18k loan, which I've been told by Fidelity that I can let "default" after 45 days and then (I think) that $18k will be treated as income and taxed the same for the year it defaults in (and then I'll also pay an extra 10%, so probably totally $7500 on this?). I have enough money in my checking account to pay my mortgage on December 1st and January 1st. Then I have literally no more money. That's all my savings. That's it. Yes, I used to have a lot more saved and invested. Yes, I know I should be in a much better situation than I am. Given the length of my employment (entire adult life with this company), I took the risk of helping a friend to the tune of $200k over the last two years. I expected that I would buckle-down in 2018 and regenerate my safety-net from that point on. I was not expecting to lose my job this Thanksgiving of all times. Yes, this was stupid. I just really wanted to help my friend out and didn't realistically thing it would destroy me. ASSETS: I have a home in the Denver metro area that I bought for $195k in 2010. It has had about $100k or so invested in it (gutted the basement and two floors to update them from 1969 styles, insulated the attic, updated the 50amp electrical panel to 200amp, added some 20amp outlets on two floors, added a very nice new bathroom, installed a new boiler, installed new baseboard hydronic heating, new evaporative cooler, new roof). It could still use some finish work to make it presentable for a sale. Zillow claims it could sell for something like $330k. I have no idea how accurate that is or how fast it would go. I still owe about $140k on it. MONTHLY EXPENSES: (~$1,950)
This doesn't include medical coverage. With the ACA, I don't think I can afford that with no income. It seems to be about $300/mo for the privelege of having them pay about 40% of some expenses after I've met like a $6k deductable for the year. With a very minimal income, it seems I might be able to get enough tax credit to pay only $60/mo. Still, for something I can't afford to use, so this is literally money that I'm just paying for nothing. Alternately, I can pay like $700 penalty next year and have no coverage (which seems even worse, being I'm 40). This also doesn't include dental coverage. I need some dental work and it looks like dental coverage would be at least $60/mo and I wouldn't even be able to get anything significant done until the second year and even then only up to $1500 with them covering 50%. This also doesn't include vision. I don't think I can afford to have any of these things and my best bet is to find $700 somewhere and just pay the government to not give me health coverage. HELP?! How can I make the best of my situation? I'm really scared, because I'm 40 and in poor health and am worried I may not be able to get a job again at all -- much less an equivalent one. At this rate, I see myself ending up old, literally broke, never being able to retire, and scrounging at some awful job just to barely get by. I never saw my life going this way... It is the way my parents have gone and I don't want to suffer like they have had to. My sibling and their significant other are probably going to move in in a couple weeks and we have discussed what we can do. It is likely that we will split things three ways (including mortgage) and I will give them their share of equity in the house if I ever sell it (calculated as whatever percent of overall mortgage payments they wound up covering). If that works out, it could take my monthly expenses down to about $800 including food and pet, but not including ANY sort of health, dental, vision or anything else. I can only think of two ideas. Sell House: I can get someone to help me do some work on the house and then sell it. Maybe I'll get lucky and it'll sell fast and for like $330k (the last owners had it on the market over six months before I came along). I'll eat a big loss considering I spent about as much to renovate the house as it has (maybe) increased in value. Then I could pay the bank back the $140k and use the remaining $90k (or whatever I get after paying a real estate broker and taxes) to live on. I'm not sure how or where I would live very long on $90k, but at least I'd (maybe) have up to $90k. Cash Out 401k: I can cash out my 401k. It was $179k last I looked. Subtract that $18k and it's $161k. Figure 30% tax and 10% penalty, so I keep 60% of it. Maybe that leaves me with $96k. Use $7500 of that to pay off the 401k loan tax and penalty, leaving me $88k. That's $88k to live off of for as long as I can stretch it while having my house to continue to live in (though I'm then paying whatever portion of the mortgage and expenses still). Which is better to lose? The 401k or the house? Either way, I feel I am just delaying the inevitable and have no future. I've been living every moment of the last two weeks like I'm constantly hyperventilating. Thank you for reading this. Thank you for any consideration you give it. Thank you for any advice you offer. Regards. [link] [comments]  |
| Posted: 27 Nov 2017 11:19 AM PST I owe 10,000 dollars for a car that was repossessed due to non payment. The original creditor bridge crest sold the car at auction for a fraction of what i owed and gave me a bill for the remaining balance. I was unable to pay anything towards it and bridge crest sold the account to a debt collection agency called deville Asset Management. I called them and was told they want a minimum payment of 150 a month or they would pursue litigation, garnish accounts, etc. I told them i could pay 60 dollars a month because its all i can afford. They said they would accept the payment but it wouldn't keep me out of red and they could pursue litigation any time. How do i negotiate with them, what are my options? tl;dr i dont make much money and a dept collection says i have to pay 150 a month or they will pursue litigation. I only make 1800 a month which covers rent, car payment for current car, food, phone bill and gas to get to work. [link] [comments]  |
| I am 30 with no good job prospects; what can I do to improve mine and my son's future? Posted: 27 Nov 2017 05:49 AM PST Hi everyone, thank you for reading this. I spent my 20's working for one company in a very niche field in the automotive industry. I was very good at my job but was really overpaid (about 70k per year). The company's owners sold and many locations and jobs were made redundant, including mine. I was let go October 1st. There are no comparable jobs available. So now I am 30 years old working a $15/hr job and running a negative budget each month. I have trimmed all unnecessary expenses from the budget but I need a long-term plan. I am thinking some kind of 2-year associates degree that will allow me to start a good-paying (50k/year to start) career. I don't have any particular passion besides just providing for my son (he's 3). Has anyone been through this kind of situation before? Any thoughts would be greatly appreciated! [link] [comments]  |
| Wells Fargo “updated” my escrow account. Make sure they didn’t update yours too! Posted: 27 Nov 2017 07:40 AM PST Not sure of proper flair for this one. I received an escrow review statement this month stating that I would have a $2000+ shortage in my escrow account next year and that on top of that my escrow account would be $120 more per month even after fully paying the shortage. Looking closer it estimated my property taxes at $6500 for the year. The problem with this is all taxes are paid for 2017 and came out to just over $4400. After speaking with the county and finding out taxes will not go up I called Wells Fargo to get justification on the $2000+ increase. Their response; "we ran an analysis on the taxes and the $6500 is what was determined to be next years taxes." After a 25minute conversation giving her word for word and dollar for dollar figured from physical paperwork from the county she called her tax department for a second time. This time they informed her that the review statement was not supposed to come out yet as they didn't have the updated information readily available as the county had not set in stone it's taxes on paper for 18 yet. Based on this. Has anyone else run into this problem with Wells Fargo? And if you haven't, I would strongly suggest taking a look at your papers, as if I did nothing they would be holding onto roughly $4500 for me that would be unusable for me but a gain for them even if temporarily. [link] [comments]  |
| Why aren’t there many discussion about not earning enough? Posted: 27 Nov 2017 02:51 PM PST I'm been following this thread for a solid year, but one thing I often feel is talked about too often is 'spending habits out of control' I have a close friend who is 1K overdrawn in his bank, he has a retail job, barely buys anything other than food and the odd piece of clothing here and there. Sure he has car payments, insurance etc The issue i see with him is that he just doesn't make enough money, not that he needs to reconsider his spending.. The community in here is fantastic, and really tries to help people figure out their problems so please don't take this as a negative thread.. I'm just wondering what everyone else's thoughts are? P.S it's very possible that I could just be not paying attention to threads pointing out this problem. Thanks in advance! [link] [comments]  |
| Posted: 27 Nov 2017 04:59 AM PST A friend of ours is a combat veteran with bad PTSD. He lost his job back in March, got evicted last month, and has been living in his truck with 2 dogs. He's been suicidal. He has requested help from the VA but they told him to take his dogs to the SPCA and check himself into a shelter. The dogs are the only thing he lives for currently. So, my wife and I told him he could stay at our condo until he gets back on his feet. Normally, the condo would rent for $1200/mo. I'm not trying to make money off of him, I'm only trying to not swallow a $1200 pill every month. Is there any way I can write off the rent as a charitable donation? Or is there some other creative thing I can do to lower my cost? Thanks in advance! He isn't a 501c3 himself (unfortunately). We don't expect this to be a long term situation. He has an appointment for a mental health evaluation tomorrow that will hopefully start him down the path of recovery. We'll also be working on helping him file for disability and find work. I would see about renting him a room somewhere for less than my condo would rent for, but to be honest I can't swing the extra funds right now. If I had someone ready to move in to the condo that would be different. Also, location is Norfolk, VA. Thank you all for the kind words and advice! Edit - More Details [link] [comments]  |
| Posted: 27 Nov 2017 11:39 AM PST I'm 21 years old with 6 more months of school left. I'll be coming out with roughly $15,000 in loans. I have a savings of $24,000 I accumulated during the past 4 years working part time. I have 6 different loans with the highest interest rate being 4.99% and most being less than 4%. I'm not sure what I want to do with the $24,000. I know I need to save for a safety fund of 6 months of my yearly income post graduation so I'm estimating I need $24,000 (post tax income).
I spoke to a financial ad visor and they recommended not paying ahead on school loans and save a 6 month nest egg then send extra money into stocks/investments. I've started saving for a house and would like to purchase one in the next 5-6 years and I have retirement savings started as well. [link] [comments]  |
| Posted: 27 Nov 2017 04:04 PM PST This is kind of a follow up to my previous post a year ago. I knew losing my dad was a possibility in the near future then, but this is still something I want to solve without paying anything since there were no assets left behind. I have other priorities and this isn't one of them. My previous post is below. It had some ideas, but now it's time for action. I would ask follow up questions there, but it's already closed. I never got a definitive answer on a specific plan. As of now, the dues are somewhere above $9k and they don't know my dad passed away. The company doesn't contact me other than by mail (I think they called a few years ago), and I have never seen the contract (I asked for it once but never got it) or know what week or weekend he may have had at the resort or any fine details of that nature. I think I just get quarterly or yearly maintenance dues. I figure I need to send a letter of some sort showing that my dad passed away. I have the certificate of death which I can send them, but was not sure if I need an attorney or what I should do first to start this process. My goal is to spend no money on it. Any ideas or experience in absolving a timeshare from a family member who passed? Colorado specific seems to be needed. I don't know if a quitclaim can be filed or if anything can be done legally on my part. Should I request the contract? I want to avoid calling so I don't say anything I'm not legally supposed to as far as my plans and intentions. My dad was an attorney, but I think his friend convinced him to sign up for it. Some further info. I am not sure if my dad ever paid them anything other than getting the timeshare at first. He had to divest of assets for Medicare/ssi in his 60's and spent his last few years at care facilities with over $400k in medical bills over a few years. If he had an estate, medical bills are where it would go, but it will be covered by government to my knowledge. Feel free to ask anything else. Thanks. [link] [comments]  |
| Posted: 27 Nov 2017 11:16 AM PST My husband and his ex have 50/50 custody (legal and physical) of their two kids. The oldest is applying to colleges and filed FAFSA with the help of his mom. His ex went ahead and filed without including him/us at all. I read my income is included on FAFSA as well since we are married? He makes around $80,000/ year, I made around $50,000 this year and his ex makes around $40,000 this year. He paid $325 in child support each month, pays around 70% of out of pocket medical and the kids are on his insurance. His ex claims the oldest on her taxes and he claims the youngest (we file separately). My understanding was his and my income would be what was recorded for FAFSA since custody is 50/50, but we are the ones who provide the most financial support. Am I understanding this wrong? [link] [comments]  |
| Posted: 27 Nov 2017 06:48 AM PST I manage a (very) small coffee bar, and have done well over the past year in raising profitability. My boss offered me the title scenario, and I'm trying to decide what I should take. For reference, I make $10/hr, in addition to tips. I work approximately 45 hours weekly. The coffee bar is projected to have made around $10k in profit for 2017, so if I did the math correctly the offers are relatively similar. I'm leaning toward profit sharing, but have never received an offer like this! EDIT: More reference - the bar that I work at is teeny and has two employees, myself and a part timer. It's within another business, so it's pretty financially stable. The profits are not immense and probably never will be, but I do only expect them to increase based on how poorly managed it was prior to me coming in, [link] [comments]  |
| Family of 6, health insurance woes Posted: 27 Nov 2017 06:13 PM PST I apologize if this isn't the right place to put this, but I need some help with the insurance fiasco. Basic story: I make $18/hr and my husband makes $20/hr. We have 1 biological child and I have 3 kids from a pervious marriage and full custody of them (zero help from my ex). Those guys were on Medicaid because of my deadbeat ex, but since my husband and I got married in August, they are saying he is responsible for them?? Health plan is ending and in our search, we make too much for Medicaid, my husband's work wants $1200/mo and the market wants nearly $2000 for the most basic coverage. My income is mostly our savings, we want to pay down mortgage and the cushion is nice for birthdays, holidays, etc. Do I have to stop working? It seems like almost my only option. We don't live paycheck to paycheck per se but without me working, money will be far too tight for us to feel comfortable like we do now. The cost of insurance is going to put us right into the "what's the point of me working?" zone now. Am I missing something? We only pay for childcare for our youngest, the rest are in public school. Obviously we can trim the budget but we like the way we live life now and we really are down about the fact that getting married apparently is going to screw us out of our current lifestyle. I really appreciate any help or insight, I just don't know what to do. [link] [comments]  |
| How to raid 3-decade-old Vanguard account without being ruined by taxes? Posted: 27 Nov 2017 02:11 AM PST My elderly, retired father has a 30-year-old Vanguard retirement fund (not IRA) made up of many highly diversified mutual funds. It is currently valued at approx. USD $800,000. He was just a lowly blue-collar American worker who was smart about setting aside a portion of his monthly income for over 3 decades. He was originally planning on letting me inherit the fund after his death (which might not be for a long time; he is now in his 70s but very healthy). However, now he is considering withdrawing about half ($400K) to start up a post-retirement small business. I think it's a great idea for him, but he is petrified about the tax issue, and won't do it if he has to pay too much in taxes. What are all his options to pay the least amount of taxes? [link] [comments]  |
| Bank Didn't close credit card when I asked: 6 months later notice auto-renew charges 2-3 months late Posted: 27 Nov 2017 04:43 PM PST Partly my fault, but bank didn't close the credit card when I requested. 2 months later 2 auto renew subscriptions processed (Microsoft office and other software), By chance I noticed today (3 months after the first transaction) that I had an outstanding balance on that card after checking credit Karma. Do I have any recourse or any leg to stand on? Canada if it matters. [link] [comments]  |
| Posted: 27 Nov 2017 02:09 PM PST Hey guys so i am really conflicted right now and not sure what I should do. I am currently a junior in college and receiving federal student (subsidized) loans. This semester was hell to get my loan as the financial aid office kept messing everything up. After being told my check was in the mail i got an email that my check was available for pick-up, so I just went and grabbed it and cashed it. So now today in the mail i just received ANOTHER check for the exact same amount. Different check number, different dates all that stuff. So the question is, do I cash it? Am i breaking some kind if law if I do? Will the school (or whoever) have the legal right to come after me expecting the money back? I mean if i hand you money i can't just come back months/years later and say oh it was an accident give it back. Can i? Very conflicted as this is a $2,600 check which is a LOT for my college student ass. Thanks for your help guys! Edit: this is a private college btw so the government is not really involved. Not sure how relevant that is. [link] [comments]  |
| Posted: 27 Nov 2017 11:41 AM PST My mom's Volkswagen was recalled due to an emissions problem. We are promised to receive $18,000 for the car. We're currently living paycheck to paycheck and the car can't be driven because something in the engine could potentially go, which would cost $1,200 to replace now or $12,000 if it goes while driving. The car only needs to be able to be driven to the dealership, which it can do. There's nothing left for us to do as it's all on Volkswagen's end to process our files that we've submitted. I'm not even sure if what they're doing (neglecting our case it seems) is legal or not, but it's royally screwing us. My mom talked with a Volkswagen rep and the rep told her everything had been fully processed in February of 2017 but nothing has been done. The online portal hasn't updated for months. We feel helpless because it doesn't look like there's anything we can do since we've already submitted all of the required paperwork. r/personalfinance, my mom and I need your help! [link] [comments]  |
| Tax information emailed to "Gmai.com" Posted: 27 Nov 2017 01:01 PM PST I needed my 2016 taxes and could not find my copy. No biggie. I called my preparer and had them email me my return. I gave them my Gmail email and waited. No email arrived. I called back and they informed me that the email went to firstlast@gmai.com - no L. They emailed me again, correctly, and my 1040 form was attached as a PDF. I emailed that domain, hoping for a bounce back. It did not arrive. How fucked am I? [link] [comments]  |
| Is there a way to donate directly to someone's medical debt? Posted: 27 Nov 2017 12:38 PM PST I'm not sure if this is the right place to ask this. A pretty awful ex of mine has started a Gofundme page to help his son who has been shot in the leg. His son was a good kid and after my ex and I parted ways, I still hoped for the best for him. I'd really like to help the son with this mess of his, preferably anonymously, but I'm skeptical of this Gofundme. My ex is a bit of a dirtbag and has been in trouble for fraud before. I'm not comfortable making a donation that will be filtered through him. Is there a way that I might be able to donate directly to the son's medical debt? I'd feel a lot better about going through the actual hospital system where his bills are piling up, that way I know the money is going to the right place. Thanks. [link] [comments]  |
| Should I max out my Roth IRA for 2017? Posted: 27 Nov 2017 05:35 PM PST 24/M in LCOL area. I just started a job at the beginning of November, and didn't have any taxable income prior to that. Here's my current financial situation.
Should I max out my Roth IRA for 2017? Before April 15th (end of 2017 contribution period), I can save roughly $10,000 after expenses. Should I put $5,500 of that into my Roth IRA? Should I think about liquidating my Edward Jones account to use for expenses so I can put more taxed money into the IRA? If not, I want to move the Edward Jones money somewhere like Vanguard. [link] [comments]  |
| Posted: 27 Nov 2017 04:44 PM PST At the end of October my roommate and I looked at a house and liked it a lot (though it wasn't available until December 1st) so we decided to put down a deposit ($500) that would eventually go towards the security deposit to secure the place for us to rent. While doing the walk through of the place initially we saw that the current renters had a dog and so we asked about pets, the landlady said that pets (plural) were $50 a month which we thought was acceptable. Fast forward to yesterday: We found a third roommate who owns a couple cats and told them about the $50 a month fee and they were cool with that. We told the landlady that we'd like to show the place to the guy and that he had a couple cats and she said that the key was under the rug and the gate code was blah blah blah but then went on to say "don't forget" and that there was a $2000 pet security deposit and a $100 a month per pet fee (on top of the one month rent security deposit of $3795). This caught us off guard as she never mentioned the deposit and initially said $50 a month for pets (plural). When I mentioned that to her (that she originally said $50 a month and that I had written it down) she backed down to $50 but said that since I didnt say I owned a pet the $2000 was something that wouldn't have come up. So my question is this, can I back out and retain the $500 I put down? It seems like this was thrown on us last minute. When my roommate and I toured the place we had a list of questions to ask, pets was one of them and we made sure that we were diligent with our questions to make sure we covered everything. Edit: added more info Edit 2: grammar [link] [comments]  |
| Posted: 27 Nov 2017 06:50 PM PST I'm kind of at my wits end here. I'm a 22 year old full time nursing student with a child. I have a total of about $3000 in medical bills stemming from 2 separate (unwanted) ER visits. I make $9/hr and am barely able to keep a roof over my family's head, even with low-income housing and subsisting on ramen noodles. I have no insurance because the insurance provided by my work would eat up $250 every month, which I can't afford. I applied for private insurance, but the cheapest I could get was $485/month for just myself. I was denied Medicaid, but my son has it. I applied for my hospital's financial assistance program, but they're fighting me every step of the way. It took me 2 months just to get an application from the financial office. I've been in there over 12 separate times and have not been able to meet with them once. The secretary always gives me a speal about how they aren't in atm, but I can leave a message (to which I haven't got one reply). I got fed up and called the corporate office and got them to send me an application. I filled it out and they said it would take 60 days to process. They promised me my account wouldn't be sent to a debt collector since my assistance status was pending approval. However, it was. I got a legitimate letter saying that the hospital sent the debt to the collector because my account was 90 days with no payment. I tried calling the collector to get some answers. After the standard questions, all they kept asking was "sir, are you refusing to pay?" they wouldn't even acknowledge my questions. I didn't want to set up a payment plan (that I can't make) because it has backfired where before I was told that my debt can't retroactively be lowered because I already agreed to a payment plan. I feel like I'll never make it out of financial hell. I'm trying everything in my power to provide my son with a better life than I had and it feels as though the universe is conspiring against me, I'm a good student and loving father. I just need to make it another 1.5years till I get my RN and will be making $25+/hr. Where do I start? [link] [comments]  |
| My mom said it's bad to claim 4 allowances on my w4. Posted: 27 Nov 2017 05:31 PM PST My mom wants me to put 0 allowances on my w4, so I can get a tax refund. However, I put 4 allowances on my w4 because I wanted to pay less taxes on my paycheck. Is my information correct, how should I look at my w4? I am 21 and still learning about taxes. [link] [comments]  |
| Posted: 27 Nov 2017 05:28 PM PST Here are the steps I took:
Now what? I've read on many various sites that it is bad to have a balance in tIRA and that II must always do a 100% conversion of tIRA to Roth. Am I completely screwed? Do I withdraw the 12 cents? Or can I move that to Roth as well? Thanks! [link] [comments]  |
| We have two years to dig ourselves out of the hole we've dug, and I don't know where to start. Posted: 27 Nov 2017 09:20 AM PST My Wife is in the military and her pay/benefits have served us well. We fell into the credit card trap early and made some silly decisions regarding cars, and now we're flailing. My Wife has decided when her enlistment is up (September 2019), she'd like to transfer to reserves. We'll still be getting a small paycheck from the military, and of course she will find work once she's off Active Duty, but I want to be as stable as possible to account for any lag between leaving active duty and starting a new job in the civilian world. Our budget is as follows: Monthly Earnings AFTER Taxes: $5,842 Monthly Expenses:
Total after expenses: $559 All varying expenses (electric, water, etc.) have been averaged. All credit cards except Credit Card 2 are maxed with high interest rates. We also have no savings. Every other month we **don't have a water bill.** I work for a law firm and get not so great pay, but soon I will be getting hopefully around $2,500 per month in bonus pay based on deals I'll be working, but I haven't included that above as I haven't started getting them yet and some months will be lower and some will be higher. I am also a student with around 20k in debt so far and am about halfway through my Bachelor's, so it'll be another 2-3 years before I have to start paying on those. I am very financially illiterate I'm finding. I have this narrow view of money where I see money coming in and going out and we have X dollars to get us to payday. I budget in a note on my phone where I have all of our expenses and basically take a calculator to our bank balance every couple of days to keep track of money coming and going. I feel so silly even typing this. I have a 3 year old son and I can't figure out how to work my own money. I don't expect to be a millionaire by 2019, and I don't even expect to be 100% stable by then, but I need us to be in a much better place so that we aren't pinching pennies anymore and my Wife can get off Active Duty like she's been wanting to for years. I'll read any book or listen to any podcast or whatever it is to understand. Any help would be immensely appreciated. [link] [comments]  |
| Posted: 27 Nov 2017 07:54 PM PST Sister (19) just received a text message from our father basically disowning her due to her spending habits and companies she shops at. The account was set up a few years ago, she doesn't remember signing any paperwork with him to set up the account however she was aware he was on the account but not sure why or how. Our father doesn't know how to use a computer, let alone check another persons account. We believe our stepmother has been accessing her account while working at the local branch and reporting back to our father. However there is a chance she could of used our fathers credentials to set up an online account from their home computer to monitor the account if he was somehow affiliated with the account. This woman is nasty shady level 1000. Tomorrow I plan on going with my sister to empty and close the account then start a new checking and savings account at a different bank that wouldn't be accessible by anybody but her. Who should we talk to to raise some flags and make a formal complaint against "stepmother" for whistle blowing? or are we just better off closing the account and moving on with life? The bank is Truliant Federal Credit Union in Burlington, NC. Any advice would be greatly appreciated, thank you. [link] [comments]  |
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