Personal Finance 30-Day Challenge #6: Review your investment asset allocation! (June, 2018) |
- 30-Day Challenge #6: Review your investment asset allocation! (June, 2018)
- Weekend Discussion and Victory Thread for the week of June 01, 2018
- My husband and I are idiots. We've been bamboozled by a financial advisor.
- My accountant messed up BIG TIME and is now avoiding me.
- 32 y/o with 100k just sitting in my "mattress"
- Parents near retirement age have no money, facing financial ruin.
- Student loans have been paid off.
- Buying a car with cash
- For the first time in my life, I’ve lost control of my finances
- Employer wants to change my payment to a lower wage for hours already worked.
- Best way to get a $12 collections off my report?
- First encounter with Primerica. Advice greatly appreciated.
- You can max out your Roth for $15.06 per day!
- I recently discovered how credit card interest free days actually work.
- Im 18 and I've just been kicked out, I have no money and no idea what to do
- [Other] 19 y/o disabled student confused on next steps
- Am I exempt from withholding taxes if I didn't work last year?
- 29 y/o. SHOULD I move out of my moms?
- Got a call from a debt collector about medical debt from a place that has no record of me being a patient
- Rare job opportunity
- Drove off the lot with a used car after being 'accepted' by the bank the dealership used. 2 weeks later got mail saying I was denied for the loan, I still have the car, and I put a 4k down payment. What do I do now, can I get my cash back and why would the dealership allow this?
- Switching from a company that doesn't match 401k to a company that does. Can I "undo" my contributions so far this year in order to take advantage of the full match at the new company?
- ADVICE: Good cash flow, lots of student debt
- I was just given ownership of about $30,000 in stocks, which are being held in a brokerage account by Fidelity. I'm graduating college this year. What's the best way to transfer these funds to Vanguard mutual funds?
| 30-Day Challenge #6: Review your investment asset allocation! (June, 2018) Posted: 01 Jun 2018 06:09 AM PDT 30-day challengesWe are pleased to continue our 30-day challenge series. Past challenges can be found here. This month's 30-day challenge is to Review your investment asset allocation! Some suggestions on how to do this:
The goal of this exercise is to ensure that you're invested the way you want to be invested. For example, if you want a 20% bond allocation, is that what you have? If you want 35% of your stock investments to be international, are you reasonably close to that? (These are just examples, not recommendations.) For more information on allocations, here are some recommended readings:
Use the comments to discuss your allocation, any questions you might have, or if you're wondering what you can do about them. Challenge success criteriaYou've successfully completed this challenge once you've done two or more of the following things:
Alternate success criteriaIf you don't have investments yet, you may consider this challenge a success if you do either of the following tasks:
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| Weekend Discussion and Victory Thread for the week of June 01, 2018 Posted: 01 Jun 2018 02:06 PM PDT If you need help, please check the PF Wiki to see if your question might be answered there.This thread is for personal finance discussions, questions, and sharing your success stories:
A big thank you to the many PFers who take time to answer other people's questions! For past threads, please search the Weekly Archive. [link] [comments]  |
| My husband and I are idiots. We've been bamboozled by a financial advisor. Posted: 01 Jun 2018 04:30 AM PDT Ugh I'm so frustrated. I thought we were doing a good thing for ourselves but now I think we are trapped. Full backstory: A friend recommended their "financial advisor" to us. We thought "Great! We've been meaning to meet with someone... we have a kid on the way and husband isn't putting away anything towards retirement since starting his new job in August". So we set up phone meeting with his friend from Northwestern Mutual. She gives us a call, and we end up speaking with her for over an hour. She asks us lots of questions- what we are looking for (we tell her we want to set up retirement stuff for husband and explore maybe putting some of our 17k in savings into CD's or mutual funds). She asks us questions about when we see ourselves retiring, how "aggressive" we are, etc. All good stuff. We hang up and agree to talk again in a week when she will give us a plan. Cut to a week later, we are having a phone meeting with her and she emails me THE PLAN. It's many many pages basically explaining what we have vs. what we will need if we want to retire. But she mostly just talks about how we need more life insurance. "Sure" we think. Maybe we do need more life insurance. She explains that husband needs at least $1mill in life insurance and I need $500k (we both already have $150k policies through work on ourselves). This is news to us but we hear her out. She also spends a ton of time explaining how we need to have disability insurance. Again, we think "maybe we do". So we spend the greater part of an hour and a half talking about life insurance and long term disability insurance. She briefly mentions we should be maxing out my Roth IRA and we could perhaps start one for husband. So we hang up, with plans to talk again in a week and sign some paperwork. Over the next week, husband and I really realize that we don't want disability insurance (she quoted us paying like $170/month) and we didn't really feel we needed more life insurance at this time (she had us paying $340/month in permanent and $125/month in term). But we were ok maxing out my Roth at $450/month. We also wanted to explore stocks/bonds/CD's/mutual funds more (like we initially told her). So I sent this all to her in an email before our next meeting. She sends back "OK, great! Sounds good.. talk soon". Cut to another phone meeting, where she would talk with us about our updated PLAN. She emails us the NEW PLAN while we are on the phone. LITERALLY NOTHING IS CHANGED. She proceeds to spend the next hour convincing us why we need life insurance and disability insurance. Husband and I are both pushovers and listen to the whole schpeel again. Every time we bring up a reason why we don't feel like we need it, she tells us how we are wrong. I mean, she's the professional, we thought. I still expressed my disinterest in disability insurance but wasn't completely closing the door on life insurance. She kept giving me the guilt trip on "what will your kids have if one of you dies!". By the end of the conversation, I hadn't agreed to anything except to roll over my Roth to Northwestern. She had me give her my bank routing info to get "the paperwork started". She also said she was going to be sending me a bunch of stuff to sign in the next few weeks, but it was just to apply for things... nothing was set in stone. We could just see what the insurance company was going to quote us at, and we still aren't committed to anything. "Ugh fine" I think. She says a small amount might be taken out of my checking, but its just to make sure "the charges are able to go through when we start moving more money to my Roth". SO a week or two goes by. And I see a ~$30 charge go through for "disability insurance". WHICH I TOLD HER I DIDN'T WANT!! And I just realize... this doesn't feel good. It doesn't seem right. She's not listening to what we want. She still hasn't addressed out interest in CD/mutual funds/stocks that we initially came to her for. I spend the weekend doing my due diligence- spending a few hours on r/personalfinance, NerdWallet, just googling in general about what husband and I should really be doing. I decide to call the whole thing off with Northwestern. It's been a nightmare trying to cut off ties with her. I was kind and courteous through the first couple emails and subsequent texts "We really appreciate your time but have decided to pull out. Again, thank you". She is being evasive and manipulative. Telling us we are completely wrong and we still need to work with her. At this point I have just ignored any further communication. It has just been a really bad experience. But THE REAL REASON I still feel like I can't completely ignore her, is that I asked her several times when I should expect to see a refund for the disability insurance THAT I DID NOT WANT AND DID NOT AGREE TO. She just dances around the question. I'm also worried because I have gotten a "bill" (no charges yet) in the mail for the $340/month in permanent and $125/month in term and $170 in short term disability. Is there anything I can do to make sure I don't get charged this? If I communicate with her any farther, she just tries to talk to us about why we need to invest with her, etc. WHAT DO WE DO. She is being shady AF. [link] [comments]  |
| My accountant messed up BIG TIME and is now avoiding me. Posted: 01 Jun 2018 09:07 AM PDT I'm going to try to make this as brief as possible. Because of multiple complicated reasons that happened to me in 2017, I couldn't figure out how to do my taxes by myself. So for the first time, I decided to hire an accountant. I found a great firm, reputable, great reviews, called and scheduled an appointment. I've paid him about $600 to do and file my taxes for me. When he was done, I went to the office to review before filing. I found so many mistakes (including my name) that I stayed in their office for over 2 hours pulling up all the information I had previously given them again and fixing everything. When all was said and done, I owed about 1000 for federal and 2000 for state. Because of remote work, I was also owed a refund from another state for 1500. I gave him my bank account information. Told him I could pay the 1000 for federal but needed to do a payment plan for the 2000 unless I receive the 1500 refund first, which I would use to pay off my state taxes. He said, no problem, he'll follow up with me about the payment plan amounts. I leave. We're done. A few days later, he calls me stating that while filing my taxes, he's so sorry, but instead of clicking "payment plan" he clicked "make full payment." He's apologetic and asks me what I'm going to do. I tell him I'll definitely overdraft and will have to move some money around to try to survive until my refund comes through. He offers to front me the money as a loan (didn't sit well with me) until the refund comes through. I say, no thank you, let's just see what happens. Days later, I find that nothing was pulled from my bank account. I call him to make sure everything has been processed. He confirms, says not to worry, these things can take some time. Weeks later, nothing was pulled. I knew in my gut something was wrong. I call again, all his phone lines are shut off. I make some calls to the IRS, go online to try to check my status but there's a ton of roadblocks in confirming my identity for some reason so I couldn't get very far. A few days later, I receive a letter from the IRS claiming that my payment for my federal taxes didn't go through because my bank account information was entered incorrectly and that I now owed a late penalty. I immediately go online and pay it all off. I call my accountant again, phones turned off. At this point I had a family emergency and needed to travel for a few weeks and had to put this on hold. After coming home, I finally get a letter a couple of days ago from my state claiming that my 2000 payment didn't go through because my bank account information was entered incorrectly and owe almost $150 in late penalty fees. I call my accountant's office. Someone finally picks up, says he's available. But as soon as I said my name, all of a sudden my accountant was too busy to speak with me. Haven't gotten a call back yet. I'm at my wits' end. He's been so unprofessional and made so many huge mistakes. I'm planning on just showing up to his office and talking to him directly. But before I do, I want to get some advice. Do I even have any options here? Is he under any obligation to compensate me for all this trouble? I've never been late paying my taxes and am worried this could affect me negatively somehow. Any advice would be appreciated. Thank you. [link] [comments]  |
| 32 y/o with 100k just sitting in my "mattress" Posted: 01 Jun 2018 01:50 PM PDT Okay so it's not a mattress but a proverbial mattress.
I currently live in a wealthy US suburb. I honestly have no financial goals or dreams, but enjoy travel and rock climbing outside. No idea what I want to do with my life. I've read the forums but it goes over my head and it overwhelms me. Should I hire someone to deal with my money since I don't understand it? Is that worth it for someone with assets like mine? Other people says I should just buy a house? And other people say I should just invest more. Everything seems scary. I don't anything I have to maintain or think about. [link] [comments]  |
| Parents near retirement age have no money, facing financial ruin. Posted: 01 Jun 2018 04:34 AM PDT My parents are near retirement age and have no money. My father was the breadwinner but has been out of work for nearly a year due to a disability and in part from a poor hiring environment in his specialty. He worked as a contractor all his life, but now his only income now is his short term disability insurance. His life savings are inexplicably wrapped up in his side business/project. I really can't explain, but it's a high dollar, low liquidity situation that I see as a gamble that has taken far too long to get off the ground. I don't know what's going on there, but he's psychologically attached, and cannot be argued anywhere remotely even close to letting go of his dream. It's all or nothing, if it fails financially everything goes with it. It's bad, they don't have the money to pay the mortgage next month. They're putting the medical insurance on a credit card, and I can start to see their healths declining, one parent needs a surgery. They're in the US, but I believe their immigration situation bars them from most public benefits, such as Medicare or SNAP. I'm just at wits end, their problem is too big and I don't even know where to start. I work a stable job, but I'm afraid now that trying to help them is just jeopardizing my own future. For reference there is zero chance that I'd pay their mortgage and their private medical insurance is about 50% of my take home pay. Ive been supplimentally financially supporting my sibling that still lives at home. I'm just looking for options and perspectives. Their bad decisions are losing me sleep, my worry is effecting my relationships and I feel like they gambled away their future and now my own. I love my parents, but I don't know what to tell them anymore, they screwed up. [link] [comments]  |
| Student loans have been paid off. Posted: 01 Jun 2018 07:03 PM PDT I feel as though I can finally sustain a relationship with another human being (friends, family, girlfriend, etc.) due to the guilt of spending money being lifted. How do I ensure my future never has to deal with this again? I'm ready to start enjoying life again and not feel like a shell of my former (outgoing) self. [link] [comments]  |
| Posted: 01 Jun 2018 04:15 AM PDT What tips do you have for negotiating for a new car when you intend on paying upfront with a check? Do car dealerships perceive cash customers as better or worse than those who have been approved for financing? Should I try to not let it slip that I have cash on hand, or would the fact that they'd be paid right away be an incentive to give me a better deal? My credit score is 772, if it matters. I'm not interested in a loan because I hate debt hanging over me. [link] [comments]  |
| For the first time in my life, I’ve lost control of my finances Posted: 01 Jun 2018 11:47 AM PDT I guess I'm just looking for advice here, I feel so stuck and I finally broke down and cried last night. I am stuck in a damn payday loan cycle and have been for a year. I owe $2500 on a 289% loan, and I have only been able to pay the minimum amount ($300 every two weeks). I have literally paid over $1000 in interest just to still owe the exact same amount 1 year later. I'm 20 and I don't have any close friends and my family is not involved in my life, including parents. I don't have great credit so I can't get a loan for lower interest (I've tried multiple times), but I know if were to have a better loan, I would have it paid in 2-3 months. I work extra and put all of my extra money toward these loans, but the amount is always the same. My boyfriend and I live together but he currently doesn't have a steady job because of an injury, but he does work for people to make money a few times a week. That money goes toward the loan usually and a little bit of food and gas. But we still go without food just to pay the minimum or extra sometimes. Still the same. Here are my monthly expenses: Rent: $400 (my boyfriend and I live with a friend) Car payment: $132 Doctor + adhd meds: $150 Phone: $150 (both of our phones and plan for 5gb, also a 25% discount though one of my jobs) Car insurance: $150 (for both of us) School: $59 Loan minimum: $300 every 2 weeks My job I just started pays $13.25 and I work 40 hours, and I also try to work at my other two jobs on my days off or work a couple of hours when I get off during the week and that'll bring in $100-200 or so, but sometimes the most random accidents happen and extra month can't even go toward the loan, then I still end up paying just the minimum and I rack that interest back up. I am trying my damn hardest and I'm not getting anywhere. I've started selling my stuff. Even considered stripping for a brief moment. Are there any places that for sure will give a lower apr loan for good people that are just stuck in a bad situation? I pay everything, it's just that damn interest... I've also spoken with them and they basically told me they can't do anything to help me other than extend the due date which doesn't help me at all. Does anyone have any advice for me? TL;DR: Stuck in a payday loan, decent income and extra money still ends up paying for the interest alone and I am falling extremely depressed over it. [link] [comments]  |
| Employer wants to change my payment to a lower wage for hours already worked. Posted: 01 Jun 2018 06:55 PM PDT Throwaway. Thanks in advance for any advice! TL;DR at bottom. So I work as a home-health aide while I'm in college. There are basically two ways we can be paid: Wake hours, which is full pay, and On-site, On-call which is basically half-pay. Typically I only agree to work houses with all wake hours, because this job isn't worth doing for on-call pay (which is basically you sleep at the site, while the patient is also sleeping). There's a site I work at predominantly on weekends aside from my other, permanent shifts. This site is on a week by week basis, where I fill in as people take off work. I get paid every two weeks. Last weekend I worked an overnight shift (3pm to 9 am), and this weekend i worked second shift (3 pm to midnight). While I was working second shift, I got a text from my house manager. Text included, minus identifying info: "Hey, bankrolled, there has been changes to the way the shift is paid. Wake Hours are: 6a-9a and 3p-11p. On Site On Call are 11p-6a. So when you clocked your time you have to clock in according to the type of shift it is. For example, for today you would clock in wake 3p-11p, and then 11-12a on site on call." I responded that I wasn't okay with them arbitrarily changing how they pay me for the hours I'm working after I've agreed to work them, and she responded again: "It has always been like that at X house. We just haven't been putting it in correctly, so [Head Manager] has been going back and fixing everyone's time. [Company] is enforcing the policies and procedures that are in place." I responded, "That may be so, but I have never been informed of this. And I can understand clocking hours differently in the future, but I expect to be paid wake hours for what I worked today and in the past." Manager: "Take that up with [Head Manager], but I am informing you of what X plan specifies. You can read this plan for yourself and see that what I am telling you is true. I plan to go in Monday and view the house procedures and speak with Head Manager myself. Can they do this? If they go back and change my hours for the past two weeks I'll miss almost an entire shift of pay. I plan to stop filling in shifts at this house immediately, but I don't want the hours I've already worked to be changed. Also this is Ohio, if that helps anyone. Thanks again! TL;DR: Two types of hours with two types of payment. Company wants to go back into and change a lot of my hours to the lower payment after I've already worked them. Is there anyway I can convince them not to? [link] [comments]  |
| Best way to get a $12 collections off my report? Posted: 01 Jun 2018 06:35 PM PDT So today I decided to actually buy and look at a 3B report from MyFICO because I've been getting turned down for apartments. My score keeps coming back in the low-600s, which was bothering me because, although my utilization is just a bit high (22%, will go down to single digits once Cap1 reports my payment), I've otherwise been pretty good about staying on top of things and couldn't figure out what the "serious delinquency" on my report could have been. So, apparently, a doctor's office I went to in my old college town back in Summer 2016 charged me $12 for something. I cannot for the life of me remember exactly what it was for but I do vaguely recall having been to the doctor there, but I thought it had been covered by insurance. Anyway, somehow I wasn't aware of the bill and it went to collections. I just found out about this an hour ago. What's my best option for getting this off my report? It's entirely my own fault, I guess I should have been more vigilant at the time, but it's such a small amount and it's causing me so much trouble, would I have a good case to just call the hospital and offer to pay it over the phone if they take it off? If not, what's the best way to minimize the damage that this is doing? [link] [comments]  |
| First encounter with Primerica. Advice greatly appreciated. Posted: 01 Jun 2018 07:22 PM PDT I wasn't sure to post here or r/antimlm, so please let me know if I need to go over there to share and rant about my awkward encounter. Anyways, I'll do my best to keep this story short but comprehensive and coherent. I apologize if this get's long, nothing like a good ole rant. I left a TL;DR at the bottom with questions in the paragraph above for those who just want to get to the point. I don't want to reveal too much information about myself, but as for employment, I work at a firm on an hourly basis and no benefits. I once talked to my boss (he runs his own company) about learning and possibly investing into a Roth IRA, IRA, 401k, or anything along those lines. The next week I walk into the office and see him talking to the client. After some listening, I realize that he actually the client. Boss was talking to this lady about retirement and different investments. After some time, Boss and Lady tell me that eligible for this thing where Boss will match the 3% contribution towards a "retirement fund." So I was thinking that there were going to set up a legitimate account. I briefly gave her my drivers licence and my SSN since the employer usually works with other reputable and trustworthy people and companies. She was short of time while I was busy myself and was not able to fully explain how this process would work, so Lady and I agreed for her to come next week to sit down and talk further. I trusted that Boss would not put me into an awkward situation, but since I was hesitant due to the fact that I stupidly gave my personal info to a random person who did not even provide me that name of the company, I was sure to tell her to not do anything with my information until we talk again. Ugh, yes Reddit, I know I made some mistakes. The next week she arrives to the office to sit down with me. At the time, I did not know anything about Primerica, so when Lady revealed this to me along dropping NYSE, I didn't think much of it initially. Then, it wasn't even two minutes later until I realized that she was trying to recruit me, sell me life insurance, and passively demanding that I give her 7 referrals in lieu of her free "services." I was too polite to shut down the conversation then and there, so I just let her talk and was adamant that school and work take all of my time already. At the end of the conversation she tells me that I should go to one of their conferences to learn more, shakes my hand and leaves. Not too long after, I get a text message saying, "This is Lady, let me know about Saturday!" I felt extremely fishy about it so I google Primerica and got nothing but stories of scams, pyramid schemes, and to run so very far away. I felt stupid that I easily gave her my SSN, and wanted to reject her "services" and recruitment. I also can't remember if I signed anything. So I text her back and the conversation goes like this: me: Hi Lady, I have looked further into the company and I am not really interested since I do not have the time right now. But I do appreciate the offer. Do you have my signed up for the mutual funds? Lady: Hello! I understand, it's not for everyone! But busy people get more done. Curious, where did you get your information from? And yes! You're all set you'll be getting a packet in the mail in the next week or two. me: I just did my own research to look further into the company. Not only am I too busy, I am not familiar with anyone interested in the services so I wouldn't benefit in a multilevel marketing company. But I still have your information if I ever do decide otherwise:) Also, did I sign anything from you? Lady:Oh that's why lol. We're not an mlm, they sell lotions and potions. We're in the highest regulated industry. A publicly traded company is just like every big deal company, but we have a way better opportunity. Check out credible sources like the NYSE our stock symbol, PRI, BBB, Forbes top 50 most trustworthy companies... :) The conversation stops here because I am irritated that she took action with my information even though I told her not to and I also really want her to confirm whether I did or did not sign anything. I feel like I've got a lot of questions. She is not telling me if I did/didn't sign anything, so I'm assuming that she opened an account for me. How do I cancel this? Do I just tell her no? Wait for this packet? Threaten authority? How is this going to affect me? TL;DR I foolishly gave a Primerica hunbot my SSN thinking she was affiliated with a better known, trustworthy company. After telling her to not do anything until I was further educated, she went against my wishes and took action anyways. Yes, I am a young but innocent fool for allowing this to happen. [link] [comments]  |
| You can max out your Roth for $15.06 per day! Posted: 01 Jun 2018 06:50 AM PDT I never really thought about the "daily" amount. I think by looking at it in this amount makes it easier! I may just have it taken out of my checking everyday. [link] [comments]  |
| I recently discovered how credit card interest free days actually work. Posted: 01 Jun 2018 08:20 PM PDT I've always assumed that 55 days interest free means you have 55 days from the date of purchase before you start paying interest. Nope! This link explains it really well, it's Australian, but I imagine it would be the same or very similar in most places. On one hand I feel like a dummy for not knowing/looking into it further, because obviously banks are never straightforward, on the other hand I am 100% sure I'm not the only one to assume that 55 interest free days means that you have 55 days before you start paying interest. [link] [comments]  |
| Im 18 and I've just been kicked out, I have no money and no idea what to do Posted: 01 Jun 2018 03:28 PM PDT Long story short I received a D on my most recent report card and I now have one day to move out and figure out what to do. I am still in high school and have a part time job so I have no savings. I have literally no idea what to do from here and would appreciate any advice anyone can give on my situation [link] [comments]  |
| [Other] 19 y/o disabled student confused on next steps Posted: 01 Jun 2018 07:22 PM PDT Two years ago, my parents divorced and my brothers and I stayed with our mother. She was a stay at home mom, and when my father started paying less and less as my siblings started turning 18, she refused to get a job to compensate. We started using my brother's and my student loans and job money to pay rent and other expenses (I'm around 18k in debt because of this) but that money has run dry and now we've lost our home and are currently staying in a hotel with tomorrow being the last day. My mother refuses to plan for anything or talk to, let alone plan with my father or grandmother which is why we're in this situation. Even now, when we have no money and no place to stay come tomorrow, she refuses to even talk about what will happen next and only says "whatever happens happens". My mother and I had a fight earlier because of this and that was when I mentioned staying with one of my friends. That friend and I already have an apartment that we can't move into until August, so I mentioned staying with her in the apartment she's staying in now (said friend is 100% fine with it and has happily offered multiple times). Because of this, I was effectively "let go" and will be dropped off on campus with my boxes and luggage tomorrow while she and my brothers go off and, if things only depended on my mother, keep being homeless I guess. I'm a 19 year old girl with albinism. This has led to me being visually disabled with a vision of 20/100, meaning I'm not able to drive. I do have a job that I started this week and it's on campus so staying with my friend means I can easily make it there without driving. The apartment we plan on renting has already been set up, but I need to earn around $800 this summer to pay first month's rent since my student loans come in two weeks after it's due. My father has pushed my siblings and I to go stay with my grandmother, who lives out of state, until he can come pick us up, and my brothers plan on doing that. I've been talking with both him and my grandmother and we've come up with a rough plan to make sure my bros can stay in my grandmother's or my father's state. Personally, I'd rather stay in state since I can get to work without driving and only have 2 months until I have a permanent place to stay in this area. Staying with my father will also be difficult since he lives around an hour away from campus and there would be nobody to drive me. I'll earn my bachelor's degree in chemistry in one year, and can get a minor in statistics if I stay for another year. Career-wise, I plan on going to either pharmacy school or getting a job in data science. I've been thinking about applying for disability, but I'm not sure if I'll be accepted since I'm disabled but not completely legally blind. There's also services on campus that could possibly give me free housing which I plan on looking into. Other than that, I'm not sure what else to do to get myself on track. Sorry if this post sounds rambly or erratic, but I'm very worried and not sure if what I'm doing is right so any help would be appreciated. Sorry in advance if me posting this was dumb or if it's not as big of a deal as I'm making it out to be or if it's in the wrong subreddit. I'll delete this if need be. [link] [comments]  |
| Am I exempt from withholding taxes if I didn't work last year? Posted: 01 Jun 2018 04:18 PM PDT According to the IRS Publication 505 and the W-4 work form, if I had a right to refund all income tax because I had no tax liability in 2017, and don't expect to be liable this year, I can claim exempt from all withholdings. Even in the examples, though, I can't find examples or elaboration about what exactly qualifies me as exempt, and I don't know what happens if I didn't work last year and expect to not be liable this year. Am I still exempt, assuming I fall under the guidlines/complete the flowchart in Pub 505 this year? I also live in California if that matters and am a legal citizen with no dependents. [link] [comments]  |
| 29 y/o. SHOULD I move out of my moms? Posted: 01 Jun 2018 04:05 PM PDT Obviously the first inclination would be yes, but let me lay it out. I'm 29 and I travel for work. I'm only home on the weekends (sometimes not). I've lived at my moms house since college. My parents got divorced, my brother moved out, now it's just her in a 3bd, 3bth house that I'm not sure she could afford on her own. I split the mortgage with her (600/mo) Am I doing anything wrong? [link] [comments]  |
| Posted: 01 Jun 2018 04:00 PM PDT A debt collection company local to where I live called me and said that I had an outstanding debt have around $150 S from a local doctor for an appointment back in February of 2015. The doctor's name was not familiar, so I called their office. They said that the doctor was no longer in that office, but I explain to them what was going on, and they said they should still have my records. They could not find any record of me being a patient there. Additionally, they said that they would check with their billing department and call back if they found anything. It's been a few days, and I have not heard from them. What would you do? Or what would you recommend? [link] [comments]  |
| Posted: 01 Jun 2018 12:46 PM PDT So I've been offered a job offer as a personal assistant at $30 an hour. Already sounds too good to be true. I'm a high school graduate of 2017 currently working at a retail store overnight. I was offered the job through indeed.com and today I received a check of $2,850. The guy works at a real estate agency that seems to be legitimate. I take $200 for myself as a starting bonus and the rest of the money goes towards equipment that I buy for myself in order to do the job. He's currently waiting on me to deposit the check and send verification of the deposit. He says he'll meet up with me soon so I can fill out employment paperwork. I don't know what to do. I feel like if I jump on this it's a 50/50 chance of being great for me to make $30 an hour for 5 hours a day or I get scammed, end up having to pay the money back to the bank and just looking like an idiot. What should I do ? EDIT: I want to thank everyone for their speedy reply. Within one minute, my inbox was already being filled haha. If you'd like to check out the website that is supposedly the agency he works for it's here [link] [comments]  |
| Posted: 01 Jun 2018 09:24 AM PDT This is probably really simple, and I pretty much have my answer... but would love to hear what you have to say. thank you [link] [comments]  |
| Posted: 01 Jun 2018 01:49 PM PDT So far this year I've contributed approximately $15k of the $18,5k allowed for 2018. However I'm switching jobs and my new company offers a match that on a full $18,5k will come out to roughly $8000. Is there a way for me to "undo" the fact that i've already contributed $15k at my current job, so that I can get the match on the full $18,5k rather than just on the remaining $3500 that I have not yet contributed this year? [link] [comments]  |
| ADVICE: Good cash flow, lots of student debt Posted: 01 Jun 2018 08:07 AM PDT Long story short - just finished school. My wife and I have roughly $250k in student debt (5.7% fixed interest) and will have $200k in annual income starting out. Both cars are paid for and there won't be any monthly mortgage payments. Neither of us have expensive tastes and we would like to pay down student debt at an extremely aggressive rate (up to $8k a month). Some financial planners suggest investing the money instead of aggressively paying down debt. I wanted to reach out for some thoughts. Edit: added some more info (thanks @Ihatenewreddit) We are planning on starting a family sometime over the next year or two. We are likewise planning to purchase a home within the next year. Retirement savings are nonexistent right now. We have already built an emergency fund of about $30k in cash. 2nd Edit: Thanks for the replies everyone! And clarified retirement savings. [link] [comments]  |
| Posted: 01 Jun 2018 07:15 AM PDT I'm particularly worried about the tax implications of transferring over all that money at once. Will I have to pay capital gains tax? If so, how do I determine how much I will have to pay? This is my first time handling this amount of money and advice would be greatly appreciated! Edit: As people have mentioned, it seems like Fidelity also offers low-fee index funds, so I would be fine with keeping the money with them. I am more concerned with how to manage the taxes that will come from selling these stocks in order to invest in an index fund. [link] [comments]  |
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