Personal Finance Update RE: I might be kicking the bucket, what do I need to do for my wife here? |
- Update RE: I might be kicking the bucket, what do I need to do for my wife here?
- Uber claims I have wages being garnished but won't tell me who's garnishing
- 24 year old with mom incarcerated and house in foreclosure HELP!
- Hospital bill went from 6,000 to 72,000, can't pay new plan
- I'm 17 and I'm going to be kicked out the day I turn 18 (In 72 days: July 13th). No savings, no car, 2 jobs, I need a plan.
- Charges to my Visa debit card under iTunes Music Store. I don't have an Apple account and never have. Can someone tell me what's going on?
- Parents constantly call everywhere I apply to to check on my application.
- Insurance Company forcing me to replace a roof that has nothing wrong with it 2 weeks after closing the on the Mortgage.
- If your signifigant other is terminally ill and they are the primary account holder on any of your joint accounts you need to switch ASAP.
- Husband Can’t Get a Job
- Job is forcing me to be a salaried employee after being hourly...
- H&R Block didnt file my taxes
- 18, Can't confirm my identity through Utility Bills
- Looking for Tax Advice for Exercising Stock Options
- 26. No Debt, Decent Credit. What can I do to put myself into a better financial situation
- What's the cheapest legal way to dispose of a body?
- I just recently turned 25; is there anything I need to be mindful of?
- 25. Debt Free. Now what?
- Cultural question: why do I see so many people getting “kicked out” at 18?
- USA: Pay off house and then buy another one.... Bad decision? Is there a smarter way?
- 401k Account Balance In My Name “Belongs to the Company”
- ELI5: How do share buybacks affect me, as a shareholder?
- Large CC debt -- just got laid off
- withdrawing retirement fund money
| Update RE: I might be kicking the bucket, what do I need to do for my wife here? Posted: 02 May 2018 11:34 AM PDT Short version: Faced with mortality I wanted to do everything I could do for my wife. My previous assumptions about the transfer of property were wrong and would have caused my wife a lot of undue stress. I'll be taking steps to ensure she has immediate access to everything as well as legal documents to support her as needed. Freakin novella: So a couple weeks ago I received some fairly ambiguous and uncomfortable news that caused me to really think about the state I'd be leaving my beloved wife in if I were to die. original post It felt great to know that her promising career and our financial position would carry her through the worst case scenario, but I also identified a number of of things that I should address and I believe they may apply to some of you. It's become a bit of a stereotype that only fiscal nerds and the elderly need to be concerned with stuff like this, but I'm a reasonably healthy 28 year old that just left the Army and I spent the last two weeks scrambling to deal with this stuff because of a random blob on an MRI. First thing is first, I'm not an attorney or finance professional and this is just stuff that I've observed throughout this process. Please feel free to speak up if you disagree with whatever follows; I'd definitely appreciate making sure I'm doing everything I can do here. 1. The first thing that I did after leaving the doctor's office was drive to a lawyer's. It might seem unnecessary and like a waste of money, but I'm glad I did and I wish I had gone sooner. I'm fortunate enough to have access to "free" legal services by virtue of being on active duty; however, I would have happily paid to know that I'm preventing my wife from taking on additional hardship during what would likely be a very already difficult time in her life. Even if you don't have a medical concern, I still strongly recommend doing it because shit happens. A lawyer may also save you from the ramblings of a random man on the internet. 1.A. I, stupidly, believed I understood the way things worked. I thought my wife would inherit everything because she's my wife, right? What's mine is hers, as we often see with posts about brutal divorces, and our situation is very simple (only one beneficiary, no crazy property stuff, etc.). What I didn't consider about that reasoning was that divorce is usually a drawn out legal process under the best of terms. I had wrongly assumed that joint ownership was sort of inferred by virtue of our marriage. My wife almost certainly would have gained access to all my assets, but only after having dealt with a lengthy legal process and piles of paperwork (that shit takes 18 months in Virginia). It makes me ridiculously sad, and upset with myself, to think of my wife dealing with all that stress in the midst of such a traumatic time because she married an idiot know-it-all. 2. My first step toward making life easy on her was making sure she had easy access to my (our) money. We've kept our finances separated because we feel it's a wise choice for newlyweds. I still feel this way; however, our circumstances have changed and I was unwilling to leave her exposed to the risk of the aforementioned stress. There were three options here: handle it using a "Last Will and Testament," add her to my account, or set up a "payment upon death." I'll get into the will thing a little later, but I didn't like it for this situation and my intent. Instead, I chose to add her to the account because she would have (actually has) direct and immediate access to those accounts without dealing with any bureaucracy. The last option is sort of a middle-ground between all the other steps. "Payment upon death" is a way of telling you bank to give all your stuff to someone when you die. This offers protection from the risks of a joint account while circumventing lengthy administrative processes; however, I didn't like the idea of my wife having to prove to some strangers that I was dead. I'm sure this wouldn't be too unreasonable of a process, but I just saw it as another burden for her to deal with as she worked through everything. 3. The next step was making sure she had access to the investments I made. This was easy because I'm behind a lot of you and only have holdings in a few mutual funds. Those holdings are linked to my banking accounts and I've left my wife with a detailed explanation of what they are and how to deal with them, sell them, etc. I also explained the order in which I believe she should sell them and the scenarios that would justify doing so. 4. The final asset to worry about was my car. If the worst happens and my death is inevitable, I'll trade in both of our cars so that she can have one brand new one and remove one more potential stress factor during that time. For now, I'm just working on adding her as a joint owner so that she has more control (as with the bank account) and won't be subject to the bureaucracy I keep mentioning. 5. The "silver bullet" for addressing any of my oversights in preparation for my wife having to deal with all my assets during this process is a general durable power of attorney. There's a huge amount of risk exposure here, as with joint bank accounts, because this allows someone to legally act on your behalf. I can't begin to tell you how many guys I've watched meltdown Afghanistan because their wife took everything and divorced them using that power of attorney. That being said, I have complete faith in my wife and you can also set these up to have a limited scope or scale (e.g. timeframe, what it applies to, etc.). Mine will also be secured in a safety deposit box with other key documents that she'll be able to access if I die. 6. My last main effort has been compiling a massive document of everything. This document will also be in the safety deposit box and will contain login information for literally everything (bank stuff, credit cards, utilities, car loan, computers, social media, Netflix, etc.). It also contains details on how and when various bills are paid, where spare keys for the cars are, the type of oil her car needs, the order in which to sell investments, advice on financially moving forward (you guys make an appearance), approximate values for any of my stuff that happens to be valuable so that she doesn't get taken advantage of, contact information for the attorney, etc. This is literally just a giant pile of everything, almost like a reference book for me. My intent here was to provide her with more information than necessary because I don't want her to deal with the stress of something working through Netflix password recovery when she moves. 7. I previously mentioned that a "Last Will and Testament" wasn't ideal for my circumstances. The truth is, relying solely on one would have done a shitty job of fulfilling my intent here. I don't have a lot of stuff and I want my wife to have everything, so some massive undertaking isn't necessary to ensure the proper transfer of my "estate." These documents certainly have their purpose, but in my case this document was only slightly better than relying on community property laws and probate. The common expectation, at least in my experience, is that the bereaved sit down in an office with lots of hardwood and leather-bound books while a stuffy man with a stack of paper quickly takes care of the rest. After speaking with an attorney, this really didn't seem to be the case. I ended up having one drawn up to serve as a tertiary contingency plan in the event that this somehow becomes what is best for my wife, but I really didn't like it and hope she won't rely on it because my previous steps were effective. 8. The last thing I did was an advanced medical directive. In the interest of saving my wife from having to deal with the reality of deciding whether or not I should die I went ahead and did it myself. I outlined the criteria for which medical staff will have to follow and I set limits on what I was comfortable with with regard to prolonging my life. This in and of itself was worth the trip because I know the scenario that this could apply to would tear my wife apart. So, all that being said- is there anything else I can do here? [link] [comments]  |
| Uber claims I have wages being garnished but won't tell me who's garnishing Posted: 02 May 2018 11:06 AM PDT This morning I received my weekly direct deposit from uber in the amount of $778.80, which was mysteriously $126.53 short of the $905.33 I was expecting. I've been driving for uber for 2 months and this is the first time something of this sort has happened. I looked in the transaction feed of my uberdriver app and noticed a subtraction (in the magic amount of $126.53) with the description, "Earnings Withholding Order Tax Levy." There was an included tracking case/claim number. I called uber support, explained the situation, and provided my claim number. They had no record of the claim number I provided. They then said that it must be a problem with my bank because uber deposited the full $778.80 I was owed. I explained again, slowly, that I was actually owed $905.33. They put me on hold for a while, then came back to explain that the missing $126.53 was garnished by a garnishing agency. I would need to contact this garnishment agency, receive an Amended Order, fax this Amended Order to uber, and uber will forward it to their Legal Department for review. Uber support said that they will email me all the information I'd need to do all this. Great! I checked my messages, and uber said I'll need to contact "{{garnishing agency}}" and referred to that company as this a few times (screenshots provided). I should note that I have never been threatened with wage garnishment and I am paying all my loan payments on time. I called uber support again, and after the fun & games of explaining the situation again at length, clearly and slowly, and being on hold for long spans of time, they finally told me they didn't know who the garnishing agency was and they'd forward the situation to their specialists. Has anyone encountered a problem like this? Other than continuing to pester uber support, I have no idea what to do here. tldnr; Uber claims a garnishing agency garnished some money from my paycheck, despite all loan payments up to date, and won't tell me who is the agency doing the garnishing. Pics: https://imgur.com/a/BaNE43x UPDATE: The IRS confirmed I'm all good on their end. The customer service rep was shocked there would be a sudden garnishment without my knowledge and had no answers. UPDATE 2: The California Franchise Tax Board automated line confirmed I'm all good on their end. Checking in tomorrow morning at the suggestion of FTB live-chat to speak to a living, breathing human to double-confirm. UPDATE 3 (A BREAK IN THE CASE): I got an email from uber support explaining that {{garnishing agency}} is actually... THE STATE OF CALIFORNIA FRANCHISE TAX BOARD (several of you guessed this, including Quaziau who was sure of it). The email came with an attached PDF of a tax levy in the amount of $22,910.70 from 2012. Pic of garnishment PDF: https://imgur.com/gallery/UaZM0bF Of course, the only problem was that this {{CleanHelicopter}} who owes all that money wasn't me! Not even a little! He lives in Lake Elsinore and has a, you guessed it, completely different first 7 digits of his social security number. I then called uber support and argued over my own identity for about 20 minutes. It didn't matter that I'd never heard of Lake Elisinore or was still in college in 2012, what mattered is that this {{CleanHelicopter}} and I had the same name and the same last two social security digits. It HAD to be me, and perhaps I should reach out to my previous employer or mother of my child to see if that $22k could be lowered, said uber. I can't begin to explain how frustrating a phone call this was, or how Kafka could write 2-3 books about this phone call if he were alive. My next step is to get in touch with the FTB and make them get in touch with uber to explain that they have the wrong {{CleanHelicopter}}. More updates to come... [link] [comments]  |
| 24 year old with mom incarcerated and house in foreclosure HELP! Posted: 02 May 2018 08:52 AM PDT hey reddit, i really need some help. my mom got in some trouble in january and was incarcerated last week. i have had to cover her bills on top of my own bills, put money on her commissary account, pay her attorney, etc. as if this wasn't bad enough, i found out last night that her house is in foreclosure. i understand that you have about a year before the bank completely takes it over and puts it up for auction, but after doing a quick google search this morning, i see that there was already an auction a couple of weeks ago. it doesn't say that it was sold. so... what the fuck do i do?! she is already trying to sign power of attorney over to me asap so that i can cover her bills while she is in jail. i don't really know how any of this works and on top of all this other stuff, she has a 90k hospital bill from a two week stay in november. please please please any advice would be so greatly appreciated! i don't have any siblings and it has always just been my mom and i. i am so lost right now and trying to juggle all of this while working a full time high stress job. if it helps, we live in ohio but she is incarcerated in kentucky. **** EDIT **** please stop saying shitty things about my mom. I'm having a hard enough time right now and she is my world. Your opinion on her is unnecessary I came here for FINANCIAL advice not how you feel about my mom thanks! Another edit — not trying to pay her medical bills I was just throwing that in there. She has an attorney. We are on the same phone bill so I'm paying all of that now and her electric just for this month til we move her things out and payments on a loan she took out to pay the attorney. Just trying to help not fuck up my future. [link] [comments]  |
| Hospital bill went from 6,000 to 72,000, can't pay new plan Posted: 02 May 2018 01:38 PM PDT All numbers are USD. I had an infection in my liver and appendix and had that treated and appendix removed. The whole event took about a week. It took them ~4 months, but the bill is finally ready and it's actually 72,000 instead of the estimated 6,000. My payment plan of 166/mo is now 981/mo. And if I couldn't afford 400/mo for proper insurance I don't think I can afford 981. I'm applying for financial aid again since the bill amount has changed, but I'm wondering what I should do if I'm rejected again or I still have more left than I can actually pay for. Do I let it go to collections? The hospital said they do not make payment plans for any less than what would be repaid in a 72 month period. How do I hear about people paying like $5/mo until death or until the debt just magically vanishes? Is that something you negotiate with collections? If so, is my best bet to ignore the hospital for however long until I'm contacted by a collection agency? There is a small chance that my new 12X bill and employment change will cover 100% of the bill, but I want to be ready. I also don't want to go off of random assumptions and get in legal trouble. My future is in your hands, thanks. --edit: Update - looks like I had supplemental insurance instead of ACA compliant health insurance. As someone living on their own, obviously I knew that at the time /s :( --edit2: My plan of action is now...
Thanks everyone! I've got a plan now! [link] [comments]  |
| Posted: 02 May 2018 11:37 AM PDT ORIGINAL POST I'm currently 17 years old. On July 13th I am going to turn 18, I will be kicked out of my house on the day I turn 18. I have 2 jobs, one that pays $11.50/hour (Usually about 4 hour shifts on average) and the other pays $10.00/hour (Usually about 6 hour shifts on average). I need a plan for what to do once the day comes. I have school from 7:25 to 2:15 every weekday until June 3rd. The only way I can even think of changing my parent's mind about letting me go to college next fall is to raise $1300 to pay for 2 courses at my local community college. Please help, any advice is welcome EDIT: I Have autism so going into the military isn't an option, I'm not physically capable to do much manual labor. The jobs I work are in a retail clothing store ($10.00) and a retirement home as waitstaff ($11.50/hour). The reason I don't have any savings is that I've had expenses like a car in the past. However, in the past month, I have totaled my car, got a replacement and have had to put the replacement in the shop because there is something wrong with the transmission causing it to not be able to shift out of first gear. I don't qualify for many grants because the combined income of both of my parents is about $250,000/year (Dad: $10,000 and Mom: $240,000) [link] [comments]  |
| Posted: 02 May 2018 10:18 AM PDT Not sure if this is the place to do this, and I'm jumping onto an old account for this post, but anyway... As the title says, I've just checked my transaction history and there's two $1 charges (uncleared at the moment) to my Visa card labelled "ITUNES MUSIC STORE" and I know I didn't make any purchases from iTunes because I don't have and never have had an Apple account. I'm very certain that I'm the only person who knows my banking info, so I'm seeing red flags all over this. Is this an obvious play that this sub has seen before, and what should I do about it? I'm only 19 so I know how my bank accounts work for the most part but I'm by no means an expert on finance. Also, there was only a little over $2 on the card to begin with and I don't know if more would've been spent if it was there, so bear that in mind. Thanks everyone. [link] [comments]  |
| Parents constantly call everywhere I apply to to check on my application. Posted: 02 May 2018 05:15 PM PDT I just found out after applying to Walgreens, Kroger and a few Target locations that my parents have called each of these places several times a week to check on my application and see if I got accepted. I don't know where else to ask this. Do any of you think that might be a potential reason as to why I can't get jobs? My dad has good intentions but I feel like he is unknowingly sabotaging my applications by constantly bugging the hiring team/person. [link] [comments]  |
| Posted: 02 May 2018 02:55 PM PDT So I just bought my first home. I bought if BECAUSE of how good the home inspection went. It went really well. Specifically I was told I wouldn't have to worry about buying a roof for 5 - 10 years as the roof is only 14 years old. Right as I moved in, I get a letter from the Insurance Company (Progressive) saying that they came to my house and decided the roof needs to be replaced or they will not renew my policy come April 2nd, 2019. Which means I have this summer because you cant replace a roof in Wisconsin once the weather turns. I am totally screwed. Had I known there was a mandatory roof replacement I wouldn't have bought the house. I called the home inspector and the realtor and they were both shocked. Home inspector assured me that the roof does not need to be replaced and that I should find a different insurance company. I called All State, same thing. They said they inspect 100% of the roofs but only AFTER I sign with them. I asked if I could pay for them to inspect the roof before I sign, and they said they could not do that in the state of Wisconsin. They basically told me they would do what Progressive did. So, I have learned that my roof does not need to be replaced. But if the insurance company decides they don't want to insure the roof, they can force you to make a $5k - $10k purchase with no appeal process. Insurance Companies (at least the big ones) won't even agree to look at the roof to determine whether its an issue until after I buy their policy. This seems super predatory! What do I do? [link] [comments]  |
| Posted: 02 May 2018 04:06 PM PDT My father passed away 2 weeks ago and he was the primary account holder for most of the joint accounts he had with my mother as well as utilities and such. It is now a major hassle for my mother to re-establish the accounts in her name. She must now close her bank account and open a new one which is a huge hardship for a grieving widow. All of her auto payments will have to be changed. My father was given 1 year to live after we almost lost him in 2016. He battled back and gave us 2 more years. We knew at the beginning of this year that he only had months left and in hindsight, that would have been the correct time to change the accounts to avoid this headache. With perspective, this is a first world problem indeed, but I think it is a good tip for anyone in a similar situation. [link] [comments]  |
| Posted: 02 May 2018 05:53 PM PDT I don't know what to do, husband has been job searching for over 10 months now with no luck, not even McDonalds has contacted him back. We need to move into an apartment soon but can't afford anything in the area on one income alone. I don't know what to do at this point. It's been super frustrating for both of us and I'm stressed as shit about it. This isn't the first time he's had a long stretch of unemployment. I don't know what to do at this point. I don't want to move to an affordable income based place in case he does get a job and we can't live there anymore for making too much money. [link] [comments]  |
| Job is forcing me to be a salaried employee after being hourly... Posted: 02 May 2018 02:26 PM PDT Throw away account just in case. I'm an hourly employee. Started in September and my hourly rate was negotiated. Negotiations were centered around the expected amount of hours that I'd be working each week. The person I replaced was working 60-65 hours per week and was a salaried employee. I told them I would want compensation if I worked more than 40 hours a week. They said it should be a 40 hour per week job, he was just slow. We agreed on an hourly rate so I'd get OT for any hours over 40. Anytime I needed to go over 40 hours I'd have to get approval, which I did. I averaged about 5 hours of OT/month. Last week I was told (verbally) that I'm being made a salaried employee. The stated reason for the change was that me and my co-workers were working too much OT, but we wouldn't have to go over 40 hrs in a week much. I believe the real reason for the forced change was they hired a new person to run the department 5 months ago. He was terrible. Ran the place into the ground. Abruptly quit and we will need to work a lot overtime to clean up the mess. Yesterday management got mad because a deadline wasn't met (The fault of the supervisor that quit). We were told that we are all salary and they don't care how long it takes we must stay until all work is finished. If we didn't, they'd replace us. I worked 14 hours yesterday. My position did not change, I'm a paralegal. I'm not management. Located in Nevada. If it matters, I'm leaving the job on July 31 to start my own business, they don't know. Can they force me to be a salaried employee? Can I walk out after 40 hours if I'm a salaried employee and not face consequences? Is it worth it to fight if I'm leaving on July 31? tdlr; Hired in Sept. as an hourly employee. Forced to be salary for the same job. Told I wouldn't be working more hours despite the switch, a week later told to stay until the work is done or they'd find a replacement. thanks for the help. [link] [comments]  |
| Posted: 02 May 2018 11:34 AM PDT I just got a letter from the IRS stating they saw we have income for 2017 but nothing was filed. It said it needed more info and my tax return can be penalized. The HR block office is closed today. I'm mad. What to do? Also, do you think h&r will refund me the $300 they charged me? [link] [comments]  |
| 18, Can't confirm my identity through Utility Bills Posted: 02 May 2018 07:02 PM PDT I just turned 18 less than a month ago and I recently signed up for an online bank account that I have already put all my savings in but unfortunately I was locked out. I called and was informed my account was locked because they could not identify me (I also recently moved). To get my account back I need to email them a copy of my ID/Licence which I have, my Social Security Card which I have and a copy of a utility bill with my address/name on it but unfortunately I don't have any utility bills in my name since I still live with my parents. Is there a way to get around this? [link] [comments]  |
| Looking for Tax Advice for Exercising Stock Options Posted: 02 May 2018 03:33 PM PDT The company I work for is publicly traded and I am struggling to understand the tax implications for exercising my stock options and would love some information and advice! Here's the situation: -I have about 19,700 ISO shares vested (from before IPO) and have not exercised any -My total purchase price for these shares is $22,000 -The current market value for these shares is $384,515 -My income for 2018 will likely be about $100,000 -I am not married, have no dependents, and living in the US My questions: -If I purchase all 19,700 shares, will I be required to pay AMT when I exercise? -Does the change in share value ($384,515 - $22,000 = $362,515) count towards my income for the year? -If it does count towards my income and I will be required to pay AMT, should I choose to purchase a smaller amount of shares to reduce my income and avoid AMT? If so, what is the income cutoff to avoid AMT? Thank you PF! [link] [comments]  |
| 26. No Debt, Decent Credit. What can I do to put myself into a better financial situation Posted: 02 May 2018 04:16 PM PDT Hey all. I just turned 26, finally have a job that I know I'll be at for awhile. My financial situation isn't terrible, but it could be a lot better and I'm looking for feedback on what I can do to improve. Income I currently make $45,000 a year, roughly $1,285 bi-weekly after taxes. I currently have $4000 in savings, and put 16% of my income ($600 a month) into my personal savings account. I have about $4000 in my 401k as well, and put 8% of my earnings there ($300 a month). I also have about $700 in an Etrade account. I know my 401k is not where it needs to be. After college, I worked at a startup that did not offer 401k benefits. I didn't think this would be a big deal, but its definitely caught up to me a bit. Should I put less into personal savings, and more into my 401? Or be putting in more than 8%, and keep my personal savings at 16%? I also work as a freelance marketer, but its extremely minimal at about $180/month. I put that directly into my personal savings as well. Expenses I'm pretty lucky to have minimal expenses and no "real" debt. My parents loaned me money for college, and I owe about $28,000 left with no interest. I'm very fortunate. I currently pay $500 for rent and utilities for a bedroom in a house, where the average 1 bedroom apartment costs about $1200/month to rent. I pay my parents $400 for tuition. $85 for car insurance. $35 gym. ~$150 a month for groceries, and ~50 a month for gas. I'm fairly sure this is all my necessary expenses. That leaves me with about $750 a month after expenses. I paid my car off about 6 months ago. It needs about $1000 in repairs, but not sure if its worth it. If it didn't need any repairs I could sell it for around ~$2000. I'm considering buying a bike so I can save some money on gas and car repairs. I could bike most places from May-September in the city I live in. This month, I'm going to actually budget my money, and I'm curious to see where most of it goes. I go out at least once a week, and try to limit myself to eating out twice a week. I'd guess I spend about ~$250 a month on going out. I also spend quite a bit on concerts and travel to get there. Though it isn't every month, if I had to spread it out for each month, I would say ~$150 goes to these funds (on the high end) Credit Score/Credit Cards I got a credit report about a year ago and I'm in fairly good standing. I know Credit Karma is not necessarily accurate but they report my score being 750. I have never had my own credit card and am looking for one to use exclusively on groceries and gas. Whats a good option. Been looking at Cashback cards, or a Southwest Card (although I don't travel often). Any advice in these areas would be greatly appreciated. I thank you in advance. [link] [comments]  |
| What's the cheapest legal way to dispose of a body? Posted: 02 May 2018 03:15 PM PDT I see posts all the time referring to preparing for funeral expenses. Funerals are just another scam. As long as I'm dead I have no concern about what anybody does with my body. My Will gives consent for any form of organ donation or any scientific use or any other use for my body. But there's a possibility that my wife and or children will end up having to dispose the body or The Leftovers. I know that I can donate my body but all of the donation receivers reserve the right to refuse depending on the circumstance of death. I see absolutely no reason for there to be any expense. I'm dead I don't care. I'd be perfectly happy for them to put the body in the trash can but I suspect that's not legal. So what's the cheapest legal way of getting rid of a body? [link] [comments]  |
| I just recently turned 25; is there anything I need to be mindful of? Posted: 02 May 2018 12:58 PM PDT I'm trying to be aware of some of the financial or even legal changes that can happen from 24-25. I understand that things like car insurance goes down, and that I can no longer be claimed* as a dependent (taxes filed differently, can't use my father's country club membership, etc.) What else changes finance-wise? [link] [comments]  |
| Posted: 02 May 2018 04:33 PM PDT Income:22k/year as a graduate student +$7500/year in VA disability. Debt:None, undergrad paid off. Cars paid off. Monthy Bills: $135 for car insurance and rental. $85 for phone. ~$700 for rent after utilities. Current financial holdings:$5000 cash in savings, $4000 in a high return investment account, $4500 in a IRA. Question I have is where do I need to be putting the rest of my money? I dont know where to go from here. My father was a financial planner but he usually dealt with people who came to him with 6-7 figures from estates or something of the like. [link] [comments]  |
| Cultural question: why do I see so many people getting “kicked out” at 18? Posted: 02 May 2018 06:44 PM PDT Where I come from(Singapore), kids being kicked out was virtually unheard of. It's the norm that kids stay with their parents until they get married. How prevalent is being kicked out of the house when you turn 18 in the US? Or in European countries? [link] [comments]  |
| USA: Pay off house and then buy another one.... Bad decision? Is there a smarter way? Posted: 02 May 2018 08:23 AM PDT Thanks everyone for answering! I think all questions are settled now and I appreciate it very much! Good day all, We are thinking of paying off our house, looking and then purchasing a new one, once moved do some small fix ups to our old house and then sell it... We'd purchase a house for approx 290k and sell our old house for something along the lines of 170k. I'm worried about capital gains and taxes because of the hopefull profit we'll make on the house (120k left to pay as of now)... Would doing it the way we're thinking be fine or is there a much better way of proceeding? Not interested in 401k/Roth / investments etc... Example: Is it better to get a second mortgage and pay for two mortgages until we sell it off instead of paying it off first? Ninja Edit: Thoughts would be appreciated... Thanks! [link] [comments]  |
| 401k Account Balance In My Name “Belongs to the Company” Posted: 02 May 2018 03:46 PM PDT I did not meet the "threshold" of $5,000, so I have a check of my contributions to a 401k being "distributed" to me. I received a letter in the mail, almost one year after quitting, showing money in my 401k account. The Prudential representative tells me that my previous employer has a 5 year employment stipulation (I worked for one year with the company), so I will only receive 20% of the company's contributions. The balance in my account "belongs to the company," so the check being "distributed" to me accurately reflects the company's 20% they matched in contributions—everything else in the account is theirs. Having left the company in May of 2017, I'm shocked to learn that there is money in my name that does not belong to me as of March 2018. Something seems off...thoughts? [link] [comments]  |
| ELI5: How do share buybacks affect me, as a shareholder? Posted: 02 May 2018 08:58 AM PDT Am I affected at all if / when one of my holdings issues a share buyback? How so? [link] [comments]  |
| Large CC debt -- just got laid off Posted: 02 May 2018 07:22 AM PDT I was making radical life changes to aggressively pay off my credit card (getting rid of any bill possible at the expense of enjoying life, putting over 50% of my take home pay onto the credit card, etc. with the goal of living like this for 1-1.5 years). I'm now getting laid off with 30 days notice. I am confident I'll find something within 30 days because I feel like I have a strong skillset and that I'm just generally good at interviewing and selling myself. In the meantime, I have a credit card payment due soon. Should I pay the minimum or should I continue to pay what I was paying to aggressively push back the debt? [link] [comments]  |
| withdrawing retirement fund money Posted: 02 May 2018 07:50 PM PDT my father died recently :( he was too young at 65 years of age he had a retirement fund in his name worth 75k the name of the account is "Schwab Index Retirement Trust 2020" apparently we, his children, are entitled to withdraw from this account what are the general recommendations for doing this, especially as far as taxes are concerned? it also seems the fund is designed to fully mature in 2020? how can I go about researching this? should I wait until 2020? [link] [comments]  |
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