Personal Finance Maxing out 401k, HSA, and Roth IRA, no debt, 12 month emergency fund... what to invest in with my extra money? |
- Maxing out 401k, HSA, and Roth IRA, no debt, 12 month emergency fund... what to invest in with my extra money?
- Employer Refusing to give me compensation after a manager "forgot" to put in my raise 6 months ago
- Bit off more than I can chew with my first home purchase, what’s the best way to unfuck myself?
- People here are always saying "document everything". During a work dispute or relationship wise. How do you properly document a situation?
- 32, single mom of 2, father on verge of retiring, trying to figure out if I can afford to house them all.
- Won a brand new SUV (Volvo XC60) from a video contest. Want to sell it! What should I do?
- What should be our priority when saving for a new house?
- [auto] My employer is asking me to come in during State of Emergency, what do I do?
- How is the median income so low for expensive areas (So. Cal)?
- "1099 For Dummies" for a first-time taxpayer?
- Landlord wants me to omit reporting rental payments on taxes and offered me money in exchange
- Really want to live in NYC, job offer there will pay around 70-80k, want to get a second job for the weekends. Any suggestions?
- Estimate for paycheck deductions?
- Offered a position in my field, requested transcripts and was told I owe $2000. Need advice.
- Mother passed leaving $86k in student loan debt with no cosigner and no assets
- Total stock market fund vs s&p500 fund
- May have totaled car, no way to get to work or school now
- Laid off from union construction job. Need ideas for temporary income jobs
- Help Needed: Girlfriend admitted to ICU without insurance and has now been in hospital over a week. Now that we know she will recover, is there anything we should do to avoid crushing medical bills/debt?
- Do not buy Short Term Health Insurance through Golden Rule Insurance Company.
- 2018 Tax Benefits of Living of NJ and Commuting to NYC
- Keeping Emergency Fund in Series-I Electronic Savings Bonds?
- Question about a credit card account on my credit report
- How do I protect my savings if my country is highly unstable and corrupt?
| Posted: 04 Jan 2018 08:23 AM PST
I really don't feel like owning a house. I'm still early in my career, single, and don't know where I am going to be 5 years from now. I can see myself renting for the next 10 years TBH, home ownership sounds very stressful to me. All the unexpected expenses, the insurance, the HOA fees, etc. Also, if I were to lose my job and my mortgage wasn't paid off, I would be screwed. I have to also be willing to sacrifice not maxing out my investment accounts to be able to afford the house that I want. On top of all of that, I am not good with my hands, so if something breaks, I'm in a bad situation. What are some investments I can make with the extra $850 I am receiving each month? Edit: Based off my investments, you will see that I am a passive/conservative investor. I like the "set it and forget it" type of funds. [link] [comments]  |
| Employer Refusing to give me compensation after a manager "forgot" to put in my raise 6 months ago Posted: 04 Jan 2018 09:53 AM PST Hello personal finance, first time poster here. I had a question about something that has come up at work and I'm going to explain it without the more complicated parts. The store manager (took the position in September) recently noticed that I had just started receiving my raise that was supposed to be finalized in July by the previous store manager. I was told by her that I would be receiving my raise starting immediately. I asked about being compensated the ~$660 for the past 6 months and the store manager said that I was out of luck basically because it wasn't a payroll error and that it was the previous store managers fault. Side note: district manager doesnt know that I know and told the store manager to not tell me about any of this (shady shit). And no I did not notice on my checks (direct deposit), I have never checked my pay stubs since being employed at this company (my fault, I should've checked back in July). Will add more if I forgot anything [link] [comments]  |
| Bit off more than I can chew with my first home purchase, what’s the best way to unfuck myself? Posted: 04 Jan 2018 08:48 AM PST I got caught up with the excitement of buying my first home, and ended up purchasing a nice house in a nice neighborhood. My mortgage is already pretty high, but that along with monthly utilities, and I'm straining each month. I've also had to replace both the roof and the air conditioning unit (twice) and it's just more than I can realistically handle. I guess the easy solution is to sell. But I've been hearing that since I moved here in 2016, selling that soon would really screw with my credit, and would also cause me to lose out on money from the sale. This is all heresay from the folks I work with, and I don't have anyone close to me that I can get reliable info from about this stuff. So any kind of advice would be great. [link] [comments]  |
| Posted: 04 Jan 2018 04:39 PM PST |
| Posted: 04 Jan 2018 04:55 PM PST I have $8000 in an IRA. My kids have $16,000 in CDs. I only make around $28,000 a year. I have no debt and have about $3,000 in cash. My dad was diagnosed last year with Parkinsons. Currently we rent a house where he has his own apartment downstairs, and it's 2 bedroom upstairs for myself, daughter, and son. I pay 500, and him 350. It's getting too cramped, and my kids are basically preteens. He wants to retire because it hurts to work. He is 63, so he could get social security, and gets around 500 from miltlitary retirement . I don't know what to do. I'm not going to find a house for rent at this cost, and do I really want to move after 8 years to another rental? If I move out, chances are my dad will get kicked out too. I've never owned a home, and I live in a state with fairly high property tax. I feel like $100,000 gets you a fixer upper, and it seems like you can't get mortgages on modular/mobile homes. I could keep living like I am and stacking away cash while reminding my kids some people live in closet apartments in Hong Kong, but maybe someone out there can relate and knows a better strategy.... [link] [comments]  |
| Won a brand new SUV (Volvo XC60) from a video contest. Want to sell it! What should I do? Posted: 04 Jan 2018 07:08 AM PST I submitted a video for a video contest and was selected as a grand prize winner. It's a very reputable company so it's completely legit - I'm not concerned about that. The Prize is a brand new Volvo XC60 plus a 10K check to help cover the tax burden. I do not want to keep the car - I want to keep the most cash from the sale as possible. The contest organizer is working out a deal with a local dealership and I will be going to pick up the car from that dealer towards the end of January. Also, they did not offer a cash prize alternative. The questions I have are these: Should I take the car and try to sell it to a private party? Or try to sell it to a dealer? In either case, do I need to register the tag/title in my name and pay the taxes at the DMV before I sell it? I'm not under any assumptions that I will get full, new-car value for the sale of it. I just am trying to weigh the headache of taking it, registering it, paying tag and tax against the hit I would take selling it back to a dealer (and would I still need to pay for tag/tax anyway?). I also know regardless of what happens it will hit my 2018 income - any thoughts or advice on that side of things would be helpful as well. Thanks! [link] [comments]  |
| What should be our priority when saving for a new house? Posted: 04 Jan 2018 07:03 AM PST We have a goal of moving to a new home in a different town in 2 1/2 years when my daughter will be entering middle school and are seeking advice on what our priorities should be. Currently live in own home with some equity built up, 2 stable incomes, saving for retirement at recommended amount, have a 6 month emergency fund saved, saving for kids college. We are fortunate enough to have money left over each month after bills and all of the above is funded. Which of the following would you recommend? Aggressively save for a down payment for new home which will cost much more than current house? Or put all extra funds towards student loan and car payment which could be paid off in about 2 years if we do that to free up monthly income to afford a higher payment on new more expensive house? Thanks for any insight. [link] [comments]  |
| [auto] My employer is asking me to come in during State of Emergency, what do I do? Posted: 04 Jan 2018 10:04 AM PST I commute an hour to work everyday and part of my job involves clearing snow around the building I work in. I told my Assistant Manager I would probably not be able to come into work due to the poor conditions due to the blizzard in the North East as well as the strict state of emergency enforced by the state. She told me I should still attempt my hour commute to work and told me that if I got into an accident, my minimum insurance, which is not provided by the company will probably cover it. She said nothing about paying for any tickets I might get for disobeying the state of emergency or covering any personal harm I may suffer as a result. What are my rights and options in a situation like this? [link] [comments]  |
| How is the median income so low for expensive areas (So. Cal)? Posted: 04 Jan 2018 09:20 AM PST The median income in the Los Angeles area is about $64,000. Presumably, in an area with 60% owners and 40% renters, someone with the median income should be able to afford to purchase a low-end house in the area. However that is absolutely not the case. Here's the data: http://maps.latimes.com/neighborhoods/income/median/neighborhood/list/ Let's look at El Segundo, which is off the coast near the center. The median income is about $84,000. The median home is about $1.2 million. Even a low end house is going to go for about $800,000 there. How does this even work? I just don't understand the economics of it. I say this because together, my household (wife and I) bring in about $230,000 a year and have significant savings. Even then, we weren't comfortable purchasing a home that cost more than $750k, and probably wouldn't qualify for anything over $900k. This puts us above the median income in the richest area of Los Angeles - Bel Air, yet we could never afford to live there. [link] [comments]  |
| "1099 For Dummies" for a first-time taxpayer? Posted: 04 Jan 2018 06:11 PM PST I've been working as a freelance writer for a few years now, but just this past November is the first time I began working with a legit US company that pays me taxable income. I've never paid US taxes at all, so I would really love an extremely slow-paced "for dummies" guide on how to do it. I'm pretty sure I need to file a 1099, but I'm not really sure. I've found answers galore to this question online, but they all use "taxpayer-speak" that I cannot understand. [link] [comments]  |
| Landlord wants me to omit reporting rental payments on taxes and offered me money in exchange Posted: 04 Jan 2018 05:36 PM PST Backstory: I had a guy who I used to pay my rent to who accepted wire, money orders, or cash. He moved and now the landlord who is also the owner is taking payments personally but he only accepts cash. Landlord now wants me to not report my rental payments on this years taxes and offered me money if I comply. Isn't this tax fraud? [link] [comments]  |
| Posted: 04 Jan 2018 04:10 PM PST Other than "don't move to NYC" So I am 23 and have been wanting to live in NYC since forever and now have an opportunity for a job in Advertising that will pay around 70 to 80k, likely closer to 80k. I want to live in either Brooklyn or Manhattan, it is a pretty big thing for me to live in that city and please don't waste my time telling me I shouldn't move there or some other advice that is going to fall on deaf ears, I promise you. I am thinking a second job for the weekend can help with my income as well, what would be a good second job to take? [link] [comments]  |
| Estimate for paycheck deductions? Posted: 04 Jan 2018 04:29 PM PST Hi all, California resident here. I'm trying to see how everyone does deduction estimates from each paycheck? Idea is to get to near $0 owe'd and back for taxes at end of year. Would a good way be to look at previous years effective tax rates? Then try and back into that as my take home vs gross? Example: 10% effective tax rate previous years $1,000 paycheck gross $900 net Thanks! [link] [comments]  |
| Offered a position in my field, requested transcripts and was told I owe $2000. Need advice. Posted: 04 Jan 2018 03:01 PM PST Hello-- A little background here. I graduated with my Bachelors two years ago and i'm still on the hunt for a job in my field. I was recently offered a position and my University won't release my transcripts stating I owe them money from the last semester that my GI bill paid, and then took back after I received my diploma. I now am being told I have to pay the $2,000 in order to release them.. Any advice going forward on how to talk to my future employer about this and/or the University? I can't afford to pay this back in bulk right now, but I could in a few months. Thank you!! [link] [comments]  |
| Mother passed leaving $86k in student loan debt with no cosigner and no assets Posted: 04 Jan 2018 10:02 AM PST My mother passed earlier this week and left behind $86,000 in Sallie Mae loans from getting a Masters degree. We live in NY state. She had no cosigner and no assets in her name, just a bank account with a few thousand dollars. Our house and her car are completely in my fathers name. We have copies of the death certificate but were nervous to call Sallie Mae before knowing what to expect. I didn't find any specific answers in the wiki or in a search. Any help or insight is appreciated, Thank You. edit: we just found out the loans are now owned by Navient, previously Sallie Mae, and first by CitiBank. edit2: also wanted to add that she has been on Medicaire for 4 yrs and had no life insurace [link] [comments]  |
| Total stock market fund vs s&p500 fund Posted: 04 Jan 2018 09:48 AM PST Hi all, So I was taking a look at my brokerage account today and realized that I am not nearly as diversified as I should be so I will be selling one of my holdings and purchasing into either the Schwab total stock market index (SWTSX) or Schwab s&p500 index (SWPPX). I was looking at the returns for 2017 and they look pretty similar between the two funds. My question is: What are the pros and cons of a TSM index vs an S&P500 index? What can we expect better returns from? Adding pertinent information: Account is a taxable account Current make up is: Amazon- 30 shares - $36287 Tesla - 50 shares - $15731 Wells Fargo - 100 shares - $6200.33 Wynn - 50 shares - $8170 I also currently have $627.40 worth in SWTSX [link] [comments]  |
| May have totaled car, no way to get to work or school now Posted: 04 Jan 2018 04:40 PM PST I am a 19m currently commuting to a local university with a part time job. The university is a 20 minute commute and my job is a 15 minute commute, with no reasonable public transit to either. This morning I got into a wreck, and the possibility was raised that it may be totaled. I certainly do not have the funds to buy another car, and will be working my ass off during the break to pay the deductible. The car was my parents originally which they kindly gave to me for school and work, so any money they get from the totaled vehicle would obviously go to them. I'm very much stressing about this now and am wondering where to go from here. Edit: my commute via bus would be almost 3 hours due to poorly placed bus stops in both areas. [link] [comments]  |
| Laid off from union construction job. Need ideas for temporary income jobs Posted: 04 Jan 2018 05:10 PM PST I work in the construction field in a union and was laid off this past Monday. While the union hall is looking for a company to put me with I'd like to take a side job to keep some income flow coming in. My situation isn't dire. My wife works full time and makes decent money. We've prepared for this by putting back money into our savings as getting laid off in my field isn't uncommon. We both have reliable cars and own our house. We are ahead on our bills and have no debt. What I'd like is to get a temporary job to bring in some income instead of sitting on my butt. Any ideas would be greatly appreciated [link] [comments]  |
| Posted: 04 Jan 2018 03:50 PM PST Note:Burner account as friends tracked down my regular username months ago. As title indicates, my girlfriend (27 YO) was admitted to the ICU a week ago because she was extremely sick. She is finally on the road to a full recovery (thank God), which has caused me to begin thinking about the looming medical bill we are likely going to face. We are still in the hospital today, and will likely be here 9 days in total. Girlfriend was on her parents insurance until she was kicked off for age requirements. We applied for ACA coverage at that time through Covered California but she did not have the minimum income to qualify and was denied. I believe they referred her to MediCal but I don't think she ever completed enrollment. I don't know how relevant this is, but we have lived together for over 5 years and I have excellent insurance through my company. I am fairly certain there is no way to get her on my insurance and have this event covered. Any input/advice/experience on this matter would sure be greatly appreciated. Again, we are so happy she is going to be OK but I would like to get out ahead of this medical billing issue if possible. Thanks!!!!!! [link] [comments]  |
| Do not buy Short Term Health Insurance through Golden Rule Insurance Company. Posted: 04 Jan 2018 11:46 AM PST I purchased short term health insurance through United Health Care. During this period I never received my approval/rejection information. I have spent over 2.5 hours (over three attempts on different days) to get in touch with someone. The last call I sat on hold for one hour and twenty minutes to try and cancel the policy. I called other numbers at United Health Care asking for management only to be told to call and wait on hold again. Just trying to save some folks this headache. I called my credit card company and they have blocked the Merchant, they too were unable to reach Golden Rule Insurance. Edit: fixed some English [link] [comments]  |
| 2018 Tax Benefits of Living of NJ and Commuting to NYC Posted: 04 Jan 2018 05:02 PM PST Hello PF! I'm starting a new job after college in NYC. I have always heard that living in NJ (i.e. Hoboken) and commuting to NYC saves you money in taxes. Is this still true with the new tax reform legislation? I couldn't find anything substantial while searching online. If it matters, my annual salary will be $85k with a variable bonus (not guaranteed) that has been around ~20-25k/yr in the past according to internet/future colleagues on my team. I would appreciate any help or pointers! [link] [comments]  |
| Keeping Emergency Fund in Series-I Electronic Savings Bonds? Posted: 04 Jan 2018 06:47 PM PST So I've searched the web and can't find any financial sources recommending keeping your emergency fund in series-I electronic US federal government savings bonds. And I was wondering why that is? 1) Series-I savings bonds will have the same purchasing power in 30 years that they do today, plus some extra profit. 2) After 1 year you can redeem them at any time 2b) After 5 years you can redeem them without losing 3 months worth of interest (which isn't a huge deal to begin with) 3) The bonds last 30 years 4) They can be redeemed instantly online and the money will be in the bank within 2-3 days, so they are almost as liquid as a regular checking account 5) There is no investment risk short of the entire government collapsing So basically am I missing something? They retain purchasing power, they have no risk, and they are completely liquid after 1 year. They seem like the best place to park an emergency fund, so there must be a reason that no one's recommending it, right? [link] [comments]  |
| Question about a credit card account on my credit report Posted: 04 Jan 2018 02:59 PM PST There is a credit card from First Premier on my Equifax report. I've tried calling multiple First Premier bank 800 numbers and none of them have record of an account in my name or with my SS#. It was opened in 2002, when I was 12 years old at the time. I have never had an account with them, but it shows that payments were made until 2011. Both of my parents know nothing about it, and neither do I. I've tried disputing this with Equifax with no luck at all. There is still a balance on the card.What do I need to do to resolve this? [link] [comments]  |
| How do I protect my savings if my country is highly unstable and corrupt? Posted: 03 Jan 2018 11:40 PM PST I am a citizen of a south-east asian country but I am currently living and working in the Netherlands. As of now everything is going well because I have a good bank account i.e. RaboBank. The problem is that at some point in the future I may have to leave the Netherlands and go back to my country. RaboBank would ask me to close my bank account as soon as I leave the Netherlands which would mean that everything that I saved while working here would have to be transferred to a bank account in my country. I would like to keep all of my savings in a dutch bank account even when I leave. If another european bank is better than I would like to keep my money in that country. The thing is about the financial security of other banks and also the reach and convenience. My dutch bank card is accepted almost everywhere in the world. I cannot say the same about my own country´s bank card. This is not a tax haven or something because I already pay taxes in the Netherlands and my country does not require taxes if I have been working outside my country. So I dont expect any legal problems. I may get visa problems in the future. So if I go back to my own country and the european bank wants me to come personally do something then it could be that I cannot go there personally. What is the best bank to use for that purpose and which european country should I use? Is there anyone else who also have experience with this? [link] [comments]  |
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