Personal Finance 30-Day Challenge #1: Get on top of your credit (January, 2018) |
- 30-Day Challenge #1: Get on top of your credit (January, 2018)
- A Childhood Friend Died And I Want To Setup Something For His Son
- Post-incarceration Recovery
- Is there any reason to keep old pay stubs?
- I'm 22 thinking about going to a 4 year university but I'm scared of loans and just in general of how I'm going to pay for it.
- What's with banks asking you to login to another bank to create a transfer? It's really insecure
- What is a reasonable amount of rent for each half of a couple to pay? I am making 35k per year, while my boyfriend is making 75k.
- Career switch mid-30s. Finally real money. Saving late for retirement. Advice?
- Wife applied for a credit card, was denied due to 'debt to income ratio exceeds guidelines'.
- [Auto] First time buying a car in 10 years, used car values are so high, how do I negotiate in this market?
- How do employer-matched retirement funds work?
- How to support my partner financially after she quits
- Need help. $1500 a month in income. $1050 in bills. 6 months to move out.
- Procedure billed for months later and after I changed insurances. Previous insurance will not play ball because it isn't active, current insurance won't pay because they didn't cover me at that time. Who is responsible?
- Help with buying my first house I'm freaking out (cross posted to FIRE community, just wanted alot of opinions) please chime in
- 2 unknown transactions on my credit card under the name "GOOGLE *VALERIY"
- Late 20s with 21k in credit card debt
- How to file my own tax return behind my parents’ backs
- Need advice about how to tackle my fixing credit score, that I've neglected my entire adult life.
- GF Has a financed car we want to downsize, no idea what to do. *AUS*
- Maximum contribution or nah?
- Do you think I can make it? Moving out in first apartment..
- 529 College plan help?
- I only contributed $3150/3400 max into HSA in 2017. Is it too late to contribute an additional $250 to be categorized as 2017, for tax purposes?
- Want to estimate your 2018 taxes? I've created a spreadsheet for you PF!
| 30-Day Challenge #1: Get on top of your credit (January, 2018) Posted: 06 Jan 2018 05:06 AM PST 30-day challengesWe are pleased to announce that we're continuing our 30-day challenge series. The schedule spans the entire year so be sure to keep an eye out each month. This month's 30-day challenge is to get on top of your credit. Here are some concrete steps you can take: Check your free credit reportThere are three major credit bureaus in the US: Equifax, Experian, and TransUnion. These companies each gather credit histories for individuals and sell that information to credit card companies, lenders, and other financial institutions. You can go to https://www.annualcreditreport.com to get a credit report from each credit bureau once per year. It's often recommended to stagger your requests so you can get one every four months so you may only want to request one report at this time. You can use a calendar reminder to stay on top of this. Now, your free credit report won't include your score and it also won't include credit monitoring, but you absolutely don't need to buy those from a credit bureau because there are free options. See below. Note that the security questions will sometimes ask about intentionally false information (e.g. made-up loans), so "none of the above" may be the right answer. If you can't get past the security questions, you may have to write in to get your report. Also be aware that you don't have to pay for anything on the credit bureau sites. If you find yourself prompted for a credit card number, you might have clicked to sign up for something you might not need or want. Also, if you have trouble with the web site, try temporarily disabling browser ad-blockers and privacy extensions. See the Credit Reports Wiki for more information! Sign up for free credit monitoringYou don't need to pay for credit monitoring. Some options:
After exploring your options, sign up with at least one of them. More information contained in the Credit Scoring Wiki. Find out your credit scoreSome credit cards actually give you a free FICO score as a benefit of having their card. Brands providing FICO scores include Discover, Citi (branded cards only), American Express, Bank of America, and Barclaycard. Here's a full list of options. If you don't already have one of those cards, you can get your VantageScore from Credit Karma or Mint. VantageScore is used less often by creditors than FICO, but it's a usually a good estimate of your FICO score. Paying for your credit score is silly unless you're considering getting a major loan like a mortgage. Get rid of pre-approved credit card junk mailOptOutPrescreen.Com is the official consumer credit card reporting website to opt-out of offers of credit or insurance. It's an easy win to reduce junk mail and reduce the risk of identity theft (from someone stealing your mail). I recommend signing up unless you're in the process of building credit and actually want to receive pre-approved offers. Are you looking to improve your credit?Once you have a score over 740, most credit files are solid enough to qualify for prime rate lending. This means that any additional increase of your score will likely not get you better credit products. If you are in a position where you'd like to improve your credit, here are two situations that often befall people when asking for help here:
What to do if you find information you don't recognizeEven though credit reporting is automated, mistakes can still occur. The most common errors can involve names and addresses. If your name is similar to a parent's name, there are also instances where a line of credit is reported on the wrong file. The simplest course of action is to dispute the information with the bureaus. Here are direct links to initiate a dispute: Finally, if you believe you've had your identity stolen, read and follow the steps in our Identity Theft Wiki. Challenge success criteriaYou've successfully completed this challenge once you've done 3 or more of the following things:
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| A Childhood Friend Died And I Want To Setup Something For His Son Posted: 06 Jan 2018 02:43 AM PST Recently had a dear friend unexpectedly die who left behind an 8 year old son. I would like to set aside some money in an account that would be locked up and potentially grow until he is 18 or 21. I would like to find out the easiest and most cost effective way to set this up. All parties are US citizens. Thanks In Advance [link] [comments]  |
| Posted: 06 Jan 2018 05:33 PM PST Hello everyone, I hope you can give me some insight on how to handle this. I just spent the past 123 days (roughly 4 months) in county jail and now, evidently, I'm out. Now, I expected that I'd run into some financial issues since I lost my jobs and all of my savings (cash and 401k) went into retaining an attorney, so I'm not surprised to find myself in this situation. I'm currently dealing with around 4.5k in credit card debt and my phone lines got disconnected. I was financing a car prior to my arrest but I had to have my family give it back to the dealership. Bottom line, my credit and my finances as a whole took a nosedive. I'm currently looking for work but I feel like, even when I get hired, the climb back to normalcy is going to be very steep. Any advice on how to tackle these debts and get back on track? Thank you. [link] [comments]  |
| Is there any reason to keep old pay stubs? Posted: 06 Jan 2018 02:47 PM PST I was going through my file cabinet just trying to organize some things and I found a bunch of old pay stubs. Like 10+ years ago, first job when I was 15 kind of old. Now my pay stubs are all online and everything is direct deposited. Is there any reason to keep these old things, or can I just shred them? If there is a reason, how many years prior should I keep in my files? Thanks ahead of time! This sub is always so wonderful <3 [link] [comments]  |
| Posted: 06 Jan 2018 04:03 PM PST My parents have some money tucked away but not enough to pay for it. I would appreciate just advice on how loans work and how I could pay them off. I want to go to college but the idea of being in debt scares me. Edit1: I went to a community college on and off for 3 years so I do have some credits I can transfer over. I just don't want to go back due to me not enjoying it the CC life style [link] [comments]  |
| What's with banks asking you to login to another bank to create a transfer? It's really insecure Posted: 06 Jan 2018 02:59 PM PST There seems to be a new trend where instead of just giving your account and routing number and verifying microdeposits. Some institutions are now asking you to login to the other bank with your login credentials. From a security standpoint it's really insecure because you can't trust what your credentials will be used for. Some banks ask you to login and bring up a popup window from your other bank. This is less bad but still gives the first bank access to all your accounts rather than just one specific account. There are banks like Wealthfront though that are just horrendous. You are asked to give your credentials for the secondary bank to wealthfront. No domain of your secondary bank or anything. Just weathfront. Ofcourse they save the creds and stuff. Why is this becoming a thing? It's much less secure and frankly harder since you can't have multiple accounts with the same bank as other banks will be able to access everything. [link] [comments]  |
| Posted: 06 Jan 2018 06:00 PM PST I am having a disagreement with my boyfriend at the moment, you can check my post history if you would like to read more about it. We have been living together for three years so far. I make $35k and he makes $75k per year. We each pay for our own health insurance and cars. He has a son and pays for everything regarding him (split with his ex), but I do provide some childcare and help with homework, which I am happy to do. Any home renovations we each pay 50/50 on. Right now my expenses are as follows per month: Rent - $600 Both our phones - $147 Pet supplies - $100 Groceries - $200 Car - $400 Health insurance: $75 His are: Mortgage: $450 Car: $400 Groceries: $200 Utilities: $300 Health insurance: $265 What do you think is a fair amount for me to pay for rent? Should I really be paying half if I am only one person, yet he is paying for himself and his son? Any insight would be very helpful. Thanks! [link] [comments]  |
| Career switch mid-30s. Finally real money. Saving late for retirement. Advice? Posted: 05 Jan 2018 09:43 PM PST I used to make < 2k per month after taxes. Now I just did a career switch in my mid 30s. I graduated and instantly got a job making 120k salary + 35k RSU/year. Nice change of fortune, right? I need to know how best to handle this money. The only debt I have is a mortgage (around 80k at 5.5%). I spend very little money, don't use credit cards, and like to have lots of extra money available in case of emergency. I once had an emergency in my family and my saved up money was a life-saver. Even when I was making almost nothing, I managed to save up about 20k. But I've never invested or had a 401k, just a savings account. I had to move to a new, higher COL city for the new job. I'm temporarily staying rent-free with a family member there while I find an apartment. I'm also talking with property management companies to rent out the mortgaged house in my previous city. Rent/utilities/internet in the new, high COL city will be my one big expense. One-bedroom apartments here are about 1.8k-3.5k depending what area I live in. Here is what I've gotten out of reading this board so far:
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| Wife applied for a credit card, was denied due to 'debt to income ratio exceeds guidelines'. Posted: 06 Jan 2018 03:10 PM PST My wife applied for her first credit card a few weeks ago. She has always paid for things with a debit card or cash, and we thought it was about time she found a credit card that would allow her to earn cash back on purchases. She has a long credit history that goes back to her student loans in college (paid in full as of four years ago) and currently has a credit score of 743. The only debt she has is the mortgage on our house, which we share in name, but I pay from my income. The application for this card asked for all sources of debt, so of course she listed her only source, the mortgage. However, it only asked for her personal income. The application did not ask about spouse income or even if she was married. We discussed this at the time she applied and she was concerned that if the lender saw the mortgage debt but not my income, it would look like her debt-to-income ratio was huge and she would be denied the credit card despite her good credit. Today she got a notification from the lender that her credit card application has been denied due to 'a debt to income ratio that exceeds guidelines'. My question is, is it normal for lenders to take shared debt, but only personal income into account when deciding to award credit? As I recall, when I applied for my credit card, I did have to estimate my wife's income, although it has been several years so I may be mis-remembering. [link] [comments]  |
| Posted: 06 Jan 2018 11:11 AM PST Hey all, I'm looking to buy a new to me car, and I was thinking that I could do what I did with my last car, but the market has changed (which, in hindsight I should have been prepared for). Back in the go-go recession years (2009) I bought a 2007 Honda Fit with 80k miles for ~$12,000. At the time, the same package (sport, auto) was retailing were retailing new for $18,000. I figured I could do the same again, get a 2016 car for roughly $6,000 less than a new car, but I'm at the dealership and I'm seeing two things. Cars are way more expensive than they were 10 years ago (fair enough) and the used cars are retaining their value to such a degree that I'm wondering if there's still a benefit in buying used verses new. I'm committed to getting a Honda. My experience with my Honda Fit verses my friends who bought any other brand at the same time has sealed my loyalty to Honda. I'm not committed to the year or necessarily the mileage. I bought my Fit with what I thought were high miles, and it's been an amazing car these last 9 years. It's closing in on 200,000 miles and it's still running pretty great. I'm interested in a new car because my lifestyle has changed. A cute city compact doesn't really fit the bill anymore. Anyway, long story short, what do you all think. Is used still the deal it used to be? [link] [comments]  |
| How do employer-matched retirement funds work? Posted: 06 Jan 2018 04:32 PM PST Hey guys, noobie question. I just got on the full-time job market and making real paychecks (hooray!) so now that I have disposable income, one thing I've been looking at is setting up retirement funds. I don't have a fund yet so I know nothing of them (please bear with me). So assume I have my own retirement fund that I manage myself yielding a nice 7.5% return yearly. Then I get a new job where my employer offers a 0.5x match (so for every dollar, they give me 50 cents). What happens to my RRSP? Do I transfer it to my employer's grasp and they now control every part of it? Do I get to keep mine and they have their own? (so I end up with two). Even there, how do we know our employers are investing properly? If the company goes under, do you lose all your retirement funds, even what you had before you joined? If you work for a smaller company that provides this, is it sane to invest on your own despite the match to keep your money safe(r)? I hope the question makes sense. Hard to find info on it online. I'm in Canada btw but it should all be the same stuff and concept. Thanks! Edit: you guys are awesome. Understood the question and answered it (and more) in under 5 mins. Thank you all so much. [link] [comments]  |
| How to support my partner financially after she quits Posted: 06 Jan 2018 04:30 PM PST My partner is considering quitting her job to focus, at least temporarily, on creative endeavours. I fully support her in this, and I understand her motives. As the main breadwinner I'll have to stretch my salary to cover her needs as well but this can be handled by careful budgeting. The problem is that we have not shared finances in the past (we discuss money openly, but cash/assets are separate) I'll need to make sure she has spending money for the essentials and a few luxuries, to maintain her independence or at least the pretence of it.
Edit: to be clear - as I specified this is principally spending/expenses, I don't mention completely sharing assets for a reason! It's not on the cards! [link] [comments]  |
| Need help. $1500 a month in income. $1050 in bills. 6 months to move out. Posted: 06 Jan 2018 02:55 PM PST Hey guys of Reddit. I'm a frequent lurker of the sub here, and need some advice on my financial situation right now. I tried posting this, but I don't think I was detailed enough so I didn't get the responses that I was looking for. For the past six months; I was on thin ice, and had to budget only $125 in disposable income every month so now with my pay increase I want to be able to tackle my debt, save money, and finance a reliable car for about $6.5-10k. Here are my obstacles before I really dive too deep into the money part:
-$227-$250 credit card. (Didn't have the disposable income to keep this low) -$706.11 Personal Loan ($25 dollar payments a month) -Lease to my apartment is up in about 6 months; so I need to have a good bit of money to renew and what not. My two options are either; get a new apartment and live in it solo for $700 a month, or live with a mutual friend who I'd sacrifice a quality of living for for a little while and pay only about $350 a month.
STATIC BILLS/MONTH $500 for Rent/Water/Electricity $160 for Car Insurance ~$100 for Groceries ~$100 for Gas $95 for Phone Bill $30 for Credit Card Payments $25 payments on a medical bill @ $706.11 $20 for Internet $10 for Apple Music $10 for Netflix Total: $1050 a month I'm making about 1500 before commission, and after taxes so my income could hit 4k some months, and some months only be 1.5k. I need a plan to figure out what I need to do in order to: a) tackle my debts and clear them ASAP. b) finance a car with a poor credit score, and not much money in the bank. Whats my best option here? c) save up enough to handle moving out in 6 months and also have enough to spend to spruce up my wardrobe with work appropriate clothing, shoes, accessories. I want to look the part, but nothing extravagant. d) how would you guys best budget all the money to still enjoy life, and also get your priorities straight? That's basically all I need. Detailed help would be appreciated, but please don't comment if you're not going to go out of youre way to try and help. I'm new to budgeting, and money management in general as I tend to not look at things in steps but rather in a whole picture. Thanks in advance everybody [link] [comments]  |
| Posted: 06 Jan 2018 04:54 PM PST I had a procedure done April 2017. The majority of it went through my insurance and was covered. I switched insurances in August 2017. I just received a bill for a claim filed 11/17 related to my April procedure. I received the bill personally from the company because "After being denied by X Insurance due to it's inactive status, it is now your responsibility." I've contacted both insurance companies and they both refuse to pay. The first because they aren't active any longer and the second because they were not my insurance at the time of the actual procedure. Which one do I need to lean on for this to get paid? [link] [comments]  |
| Posted: 06 Jan 2018 04:28 PM PST Hey dudes, looooong time reader, don't post much at all, but I do quietly cheer you guys on and thanks for all the great advice: Alright help me with this housing decision. I live in Dallas and rent from my landlord for a ridiculously cheap sum of 795 a month. She offered to sell me the house for 350K. I have 30k saved up for a downpayment. I work full time and I'm going to grad night school classes to get a MS and an MBA, I should be done with grad school by the end of this year (cross your fingers). She wants owner financing, where she carries the note and wants to charge a ridiculous 5.5% interest rate. Zillow/other estimates are that the home is around 400k, its a duplex with a long time renter (and friend) on the other side. My dad (godbless him) has stated he would help me, never gave a hard number so lets figure he goes in 50/50 with me and my downpayment is 60k. The numbers say that my principle and interest payment is $1,646, with taxes at about $600 insurance at $125 for a grand total of $2,371 monthly payment, of that the renter would pay $800 and I'm left with $1,571 in rent. My salary is 76k but I've been getting bonuses that have pushed me up to mid 90k. Using a conservative 70k salary dividing by 12 and using the 28% "rule" the most I should pay is 1633, which this is under but I have sooooo many questions: It is kind of scary to "depend" on my renter. He's rented for longer than me (him 8 years me 5). The location is amazing, you can walk to 3 different grocery stores, over 20(+) restaurants and bars but far away enough that the friday/saturday bar crowd doesnt make noise/nuisance at night. Arts district/live music is a 5 minute cheap uber and I really love living here. So questions: 5.5% and 350 is steep, I looked at comps and they around the 400k range. This would be my first house. I'm terrified the renter leaves. If he did I don't think it'd be hard to find a new one and charge 1,000 to 1,100 (I'm pretty close to a university and the proximity to nightlife would make it an easy sell) but I'm afraid of quality of life if a bad renter shows up and I'm forced to live with them for a year. I have no debt and my net worth (only counting investments) is 250k. I'm terrified! What if my friend the renter leaves and despite what I said above I can't find anyone and I'm on the hook for the full 2,371 a month. My plan is to sell half of my crypto stock this march, being conservative would let me pay another 30K in downpayment to get total payments down to 2,104 and w/ the renter at 800 my payments would go down to 1,304 (which is a reasonable rent in this city, most average apartments go for around 1,100-1,300 and each unit of this duplex is a 2 bed 1 bath with an actual sizable back yard for each unit). Anyone have any experience doing this? is it fucking scary as hell? Do you only buy the house with the full knowledge that you could last years paying with no renter? I could probably pay the full amount without a renter for about 2 years before I'd be in hot water and would be forced to sell. And please let me know if I'm thinking about this incorrectly but my theory is: I'm going to pay for a roof over my head no matter what, so if I can shove bonuses and windfalls into equity into the house until my monthly payments fall into the range of what a renter would pay, than I should pull the trigger and buy this house. Sorry for being all over the place with this post I'm really fucking scared and I don't have family or friends in my financial position to ask these questions. Final thoughts: I will never ever live in such a great place for such a low price (795 a month). This is a wake up call that my choices would be to live in a much worse place for 1,000+a month, or pull the trigger on this deal, pay 60k now, another 30k in march (or negotiate to pay the full 90 in april) and try not to hyperventilate that I'm relying on rental unit to be occupied 60% of the time. Ending on a note of optimism: I could see this being a huge step up. And I love the option in the future of either 1) making this my forever home; tearing down the duplex and building a forever home in the future or 2) moving out in 5 years and just becoming a land lord myself, either doing the upkeep myself or contracting a 3rd party and having my first passive rental income stream. Any responses are very appreciated, and I should definitely get a home inspection right? To know what upcoming repairs I'm on the hook for? [link] [comments]  |
| 2 unknown transactions on my credit card under the name "GOOGLE *VALERIY" Posted: 06 Jan 2018 02:51 AM PST I hope this is the right place to post. I was charged for 2 transactions on the 23rd of December, The organization's name was "GOOGLE *VALERIY". I haven't made any purchases after the 23rd. I have no current money in my account, luckily only a few pounds were taken out but I'm worried about putting money in. Thanks. [link] [comments]  |
| Late 20s with 21k in credit card debt Posted: 06 Jan 2018 03:57 PM PST Hello everyone, hope you are well. I would sincerely appreciate your advice on my situation. I come from a family where the credit card is seen as a good solution to buy things; that way you can make small payments. So when I got my first credit card (1200$ limit) I used it up in 3 months. A lot of bad financial decisions later I ended up having close to 40k in credit card debt - I have no clue where the money went. Anyway I browsed reddit and learned about the Snowball method and having been saving up a lot of money. So I would like some advice or guidance on my situation.
I was wondering should I use my savings to kill my cc debt? Thank you [link] [comments]  |
| How to file my own tax return behind my parents’ backs Posted: 06 Jan 2018 08:48 AM PST Here's the breakdown: - I'm 23, full time graduate student as of Sept 1 - In 2017, I worked full time and paid rent away from home from Jan-May. - Moved home June-August, worked full time - Moved to school Sept-Dec and paid rent. I have provided 100% of my support for 9 months out of the year. The other 3 were at home. I am filing my own tax return behind my parents' back because they are trying to make a buck off me by claiming me as dependent and get viciously angry when they think I'm taking something that's rightfully theirs to the point where I am fearful. My income tax and student loan interest deductions are mine to claim, point blank. I have never done this so any guidance would be appreciated. Step 1 was to have my W-2s sent to my apartment. Where do I go from here? Thank you! Tl;dr: parents try to claim me as dependent on their tax return, but I am not. Filing behind their backs and don't know how to do it. Edit: since a few commenters have brought it up, the reason I am going behind their backs to do this is because I have mentioned that I will be filing independently and have been commanded by my parents that I am their dependent regardless of where I live or what I pay for, and the money is theirs. From my understanding and based on my qualifications, this is illegal, and i do not owe them my income tax return or student loan deductions, which they were able to claim last year. I am not deliberately trying to get them in trouble, but rather file first before they illegally claim me with some kind of excuse and then let them know that it is illegal for them to claim me. Edit 2: my parents file through an accountant. [link] [comments]  |
| Need advice about how to tackle my fixing credit score, that I've neglected my entire adult life. Posted: 06 Jan 2018 04:42 PM PST Hi guys I'm 32 years old making $35/ hr, I went to college on and off for 6 years I owe around $19,000 from federal loans and $6,000 from sally may. Can I consolidate my debt? My credit score is 615 how do I raise it? How low can your credit score be and still be able to buy a house? [link] [comments]  |
| GF Has a financed car we want to downsize, no idea what to do. *AUS* Posted: 06 Jan 2018 07:54 PM PST Hi guys, looking for a unbiased bit of help so felt like this was a good place to start! My GF has a 2014 Jeep Cherokee Sport she financed for around AUD $32K. She's had it since new but due to driving between WA and VIC it currently has 94,000 Kms on the clock. Since it is a Jeep and it's done high km's for its age we know it's not going to get her a whole heap of money back so we're not expecting the world. Long story short she wants to downsize to a Mazda 3 or similar for around 10K. Currently the Jeep still has about $23K owing on the loan and payout figure is around $24K. What options do we have to get rid of this thing and come out as best as possible? I don't know whether we sell privately, pay off as much as we can with the money received and then work away at paying off the rest? Do we finance another car, trade the Jeep in and add the balance to the new loan? Is there a better way we don't know about? Thanks so much for any advice you can give! [link] [comments]  |
| Posted: 06 Jan 2018 05:32 PM PST Here are the details:
Is there "good time" to start maxing out my 401k? Have I been too easy and should've maxed it out the moment I had my emergency fund funded? Should I finish the down payment before maxing out? After? Simultaneously? Would love to hear your thoughts! [link] [comments]  |
| Do you think I can make it? Moving out in first apartment.. Posted: 06 Jan 2018 02:44 PM PST Moving out for the first time.. my parents basically said I need to be out ASAP. Not sure if this category is the right one. I have 1k saved right now. It'll be me, my boyfriend, my roommate friend+her 4 yr old daughter.. I make around 400 biweekly (I usually work around 20-30 hrs a week), and my boyfriend makes 600 biweekly (40 hrs a week usually) this is at our lowest incomes here I put. My roommate/friend doesn't work since she's going to school on grants + welfare. I'm basically helping her out housing her with me cause I can't let her be homeless.. The low income apartment I am going for is 896 a month.. super expensive but we barely are under the threshold to quality for the apartment. Saved: 1k Rent: 896 Bills I have right now every month: Car payment 220 Car insurance 175 Phone 105 Credit card 35 (I pay more if I can afford to pay it down more) Grocery's not sure since we don't get to use a fridge / cook here at my parents so we end up going to eat out a bunch. Future bill from school in 6 months: ~$100 I usually just pay my car stuff, and credit card and my boyfriend pays the phone bill.. do you think we will be okay? I'm also planning on getting a lot more hours since I'm moving closer to my work and just finished school. Would getting food stamps help me, would I even qualify for them? I don't want to depend on it just for a little while till I get on my feet a friend just suggested it to me. Sorry for the random text everywhere.. I just need advice + outside opinion. [link] [comments]  |
| Posted: 06 Jan 2018 04:46 PM PST I have a couple questions on a 529 college plan I have. My mom opened this account for me when I was a kid and put around $4k ($3.6k left after fees!) into it. Halfway through college, it had a ~$6.6k value, and I took out $2k (2014). I had finaid/scholarships and what not so I never took out more money and didn't really know tax benefits of the plan. I've been out of school for about 3 years now and never touched it. It has a current value of around $5.7k. My questions is, how much tax penalty will incur if I were to close the account and take a distribution. Would it be smart to do so and drop it into an IRA? I'm pretty new to all this and looking at the statements, the portfolio performance seems kinda bad? Any suggestions will be helpful. I'm trying to roll my John Hancock 401k from my old employer into a vanguard IRA. [link] [comments]  |
| Posted: 06 Jan 2018 03:10 PM PST What the title says. Can I make an HSA contribution for 2017 in 2018 like I can make a2017 IRA contribution in 2018? How? [link] [comments]  |
| Want to estimate your 2018 taxes? I've created a spreadsheet for you PF! Posted: 05 Jan 2018 05:15 PM PST Hello all! I've created a spreadsheet to complete basic tax calculations under the new 2018 tax rules. You can see a sample of it here and you can view it on google docs here. Please let me know if there are any issues with the sheet. I'm working on a calculator for 2017 as well. Enjoy! [link] [comments]  |
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