Personal Finance What can I do with $5k/month instead of paying rent? |
- What can I do with $5k/month instead of paying rent?
- Collection Agency reported an account to the credit bureaus after account was paid in full
- The sunk cost fallacy, endowment effect, and other behaviors that lead to dumb money mistakes
- 22 year old in a load of debt and needing help to figure out how to handle it
- I bought a condo out of college in the hopes of saving money over the next few years. Am I better off paying down the mortgage aggressively or making other investments?
- Took a job i never did before [feedback after a year]
- Girlfriend Pregnant, Recently hired at Home Depot, Considering donating bone marrow for cash
- My grandparents are going to come from Russia to stay in the U.S. for several months. How do I get them insured?
- Am I crazy for even considering this?
- No longer qualify for ACA subsidy, no Medicaid expansion in FL
- Target Fund vs Index Fund (100% stock market)
- Should I opt in to the military's new "Blended Retirement System"
- Keep investing!
- Friend offering to pay me $100 for me to create emails
- Inherited Raymond James (wealth management accounts)... should I move it all to my Roth IRA's Vanguard 3 fund portfolio, or are RJ's services worth the cost?
- How do I start managing my finances in my first job (IN)
- Need financial help for a lost 19 year old
- How do I prepare to ask for a raise during my one-year review?
- HSA vs. Emergency Fund
- How should I invest the money I've saved in the military?
- Medical Debt Forgiven - Tax Impact?
- What is a good way to learn/start investing?
- Graduating Highschool This Year, Overwhelmed
- Unable to get relevant job experience
| What can I do with $5k/month instead of paying rent? Posted: 28 Oct 2018 06:15 AM PDT Hey everyone! I am a total noob to the Personal Fimance scene. My wife and I just graduated from medical school, residency and fellowship and finally have our first real jobs. We are fortunate enough to have paid off our loans, and just moved to a new city (Washington, DC) although we are open to living in the suburbs. We moved into a place which is $4700/month for rent. We love the modern feel of the place, but feel like we are wasting a lot of money we could be spending on buying and renovating a place, or potentially buying a place and renting it out to in-turn pay off the mortgage on the new place. Although we signed a 2-year contract here, our only penalty for breaking early would be that we have to continue paying rent until they can rent the place out to someone else. The place had 3 offers within 24 hours of listing so I don't think it will be a big issue. Any ideas of what we should/could do? First time posting and asking for advice on such a anxiety-provoking topic! Appreciate your patience! [link] [comments]  |
| Collection Agency reported an account to the credit bureaus after account was paid in full Posted: 28 Oct 2018 07:43 AM PDT I hope that you fine people can give me some advice here. Long story short: 10 years ago I opened a joint account with my ex-husband. We shortly after got divorced, and I had forgotten about that account. Apparently he still used it for a while, and last year, it went negative, and he never repaid. I tried to open a joint account with my current husband, and was notified through the bank check-system about this old account. I immediately went to that old bank and settled the account (it was only $100, easy to resolve). This was September 15th. Fast forward to today and I check my credit report through CreditKarma. I have a new collection notice on my credit history now, for that bank account, and to add to the frustration, they're reporting that I've only paid 80% of the $100 limit. How do I take care of this? Do I contact the old bank? Do I contact the collection agency? Is there a way I can get this removed from my credit history? I unfortunately didn't keep the receipt (because I had thought it was taken care of in full, why would I need this? I'm rolling my eyes at myself so hard right now), but I feel like I should be able to get a copy of the receipt from the old bank (fingers are crossed). What would be the best way to proceed with this? TIA ETA: sorry for any confusion, I hope this clears it up- I paid in full with the bank. They had even contacted their collection department to verify that the total balance (including any fees) was a total of $100. I paid $100, received a paid in full letter and receipt (which I misplaced or lost). Collection agency reported that Ive paid 80% of total balance (total balance $100, amount remaining $20) [link] [comments]  |
| The sunk cost fallacy, endowment effect, and other behaviors that lead to dumb money mistakes Posted: 28 Oct 2018 07:57 AM PDT Interesting video on the logical fallacies that can lead to dumb financial decisions: https://youtu.be/n1b7piSmmME I thought the concept of the "endowment effect" was useful -- the tendency for us to assign more value to the things we already own/paid for, then the things we could own. Or the sunk cost fallacy i.e. when you rent a terrible movie but feel compelled to finish watching it because you already plunked down $5 for it. [link] [comments]  |
| 22 year old in a load of debt and needing help to figure out how to handle it Posted: 28 Oct 2018 11:35 AM PDT For a variety of awful reasons from parents stealing my money, exes stealing money, getting stuck in terrible situations, and having to pay for a lot of school out of pocket and then failing because of other reasons, I've run up quite a debt. Luckily I have finally gotten back into school so student loads aren't an immediate worry for me, but at this point I can't even pay my rent. I live in an apartment where rent is 500 a month plus utilities (it's a college town so most of the places around are extremely expensive). I was making over 12 bucks an hour working 60+ hours a week when I signed the lease for this year so it wasn't supposed to be an issue. I was driving an hour and a half to and from work each day though, and since I was going back to school the plan was to transfer me to a closer location and cut my hours back down to 40 ish. However, my car had blown it's starter(and then a whole lot of other issues happened to it and it is still in the shop 7 months later). So when my car blew they still expected me to get to and from the place an hour and a half away for 4 months before they would let me transfer. So I was borrowing cars from friends when I could and unfortunately had to uber sometimes which would cost more than I would make that day. Eventually I got to the last week of that time and one of the cars I was borrowing broke down on the highway on my way there and several other issues that they simply expected me to overcome just to get there instead of transferring me back early. At the end of all the issues because I couldn't make it in for 2 days they fired me. At this point I was living on fumes. I could eat maybe once a day, didn't have time to do anything, and could barely afford my bills because of how much money was going into just getting me to and from work. Fast forward to now. I was unemployed for almost 2 months even though I was applying everyday and even got a couple interviews that said I just wasn't right. Eventually I started working as a hostess at a restaurant only a 3 minute walk from my apartment. So I only make minimum wage now and I'm lucky to get 25 hours. For bills I have my 500 dollar rent, usually about 140 for utilities, 220 on my car payment, 240 for car insurance, 90 for phone bill, plus expenses for food. I also have 4 credit cards that are all maxed out(lots of terrible situations I've had to try and dig my way out of). One payment is only 25 a month, one is 150, one is 250, and one is 100. How do I do this every month making 9.25 an hour? I barely eat anymore just because I can't afford to. I'm skipping most of my bills just to be able to pay my rent so on top of everything else i don't wind up homeless. Any advice or ideas would be appreciated. [link] [comments]  |
| Posted: 28 Oct 2018 08:38 AM PDT I am a software engineer with a MS straight out of college, so my income is pretty solid and due to scholarships I'm fortunate enough to be debt free. I've always been a saver so my parents and I determined that buying a condo over renting would be worthwhile after around a year (and I certainly wouldn't be leaving before then), so I bought a condo in Northern Virginia with a 4.25% 15y mortgage. I've been following the advice in the FAQ here, but I am still wondering what I should do considering I already have the fixed investment of a mortgage. I have an emergency fund, but I cannot contribute to my 401k for another ~6 months (employer rule). I have been paying down my mortgage aggressively, but I am not sure that is a better investment than making minimum payments and investing in something else. I live very frugally and understand that I am ahead of the curve investment-wise, so I am looking to get the best ROI in my situation with the probably goal of retiring early. Is making a Roth IRA still a good idea if retiring early is a goal? I still feel pretty clueless despite reading a lot about saving effectively. Some options I have thought of:
I really have no idea, and am looking for any and all advice. EDIT: Thanks for the advice, I'm working through it all now. I started a Roth IRA at least and am hoping to max it this (calender?) year A bit on my reasons for investing early from a comment: Basically my pov is that right now my costs are fairly low and I'm in a great position to save (no kids, spouse, etc.) so I'm looking to make the most of this now. Obviously things can change, but I'll be better off investing now when it's easy vs later when its (possibly) hard Income is ~100k ~50mins south of DC (relatively cheap CoL area) [link] [comments]  |
| Took a job i never did before [feedback after a year] Posted: 28 Oct 2018 10:44 AM PDT Hello all, I just wanted to write back to you guys after i took the decision a year ago to take a job that i didn't have any experience in. I thought that it would be maybe interesting to share my experience and maybe help someone out there that is in a similar situation as i was. My initial post can be accessed here : https://www.reddit.com/r/personalfinance/comments/73la2m/joblife_changing_decision/ So, yeah. I'm back after a year which had a rough start but which changed a lot on the go in the positive way. Before i took the decision, the dilemma was between a job that i loved but which started to be very unstable with my client and a job that appeared from nowhere and that i randomly applied to just by curiosity and hope that things can change for me. Let me write about it from the start. I was a marketing manager in a hotel/restaurant for over 4 years as a supplier (yes, i opened an advertisement company where i was working on all things by myself) where i was managing pretty much everything related to marketing : Graphic design, photography, testing food by its look and taste, coming up with ad strategies, making websites, managing suppliers, managing social media. I loved doing it but it started to be very time consuming and difficult to manage especially because the owner didn't want to pay me more after 4 years of good service (no sense of financial evolution which started to be very stressful) and that it was a family business where the owner was a difficult element to be managed along with all the work emotionally. I started to think about trying to change my life and maybe come back to my home country or wherever i can start my life all over again with my wife (i work in a North African country). This is where i received an email in which a multinational company was searching for people speaking specific languages to do a translating/interpreting job to which i answered as being able to speak those languages but not being a translator nor an interpreter by profession (I am trilingual) and that if i may help in anyway they're more than welcome to write me back. A week later i received a call from the recruiting company that asked me to meet the employer. At this moment, i still didn't know what i'm going into but was willing to at least go and see what happens. So, after a couple of days i finally met the employer. The company was searching a person which is able to speak at least 3 languages to do a translating/interpreting job for a mission that will take approximately a year and for which i'll need to travel with the team and assist them on their mission in my home country. I told him that i'm not a translator/interpreter by profession and that i may need time to adapt to which he told me that it's not a problem and that it's gonna be an "easy" job. Being a pragmatic, i didn't really think that it's gonna be easy by any stretch of my imagination but quiet the opposite. He offered me 3000$ for the job which was a very interesting proposition for me that could lead to better savings and preparation for my comeback to my home country with my wife. I still needed a week to think about it because i still loved what i do and wanted to do everything to let it work but life offered me an opportunity in which i can not only earn more money but also come back to my home country where i will actually meet professional environment that was unimaginable for me (i lived in my home country when i was a kid. After that i go there once a year for holidays if possible). This had more value to me than the money itself even though it was a pretty stressing situation as i had to do a job that i never did before. It was still pretty shocking for me because i really wanted to be able to go back to my home country but was scarred because of the fact that i'll need to start all over again. Not knowing anyone there, not knowing if there's a job for me, the fact that i lost a lot of my cultural reflexes and knowledge took me a step behind every-time i was thinking about that and decided to keep being where i am even though i wasn't happy with the situation. After a week i called back but where i had a bad surprise as the employer decided to negotiate the salary with me down to 2500$. I was earning 1700$ (for the first 3 years i was earning 1200$ but when i took the courage to ask for a price raise to 1700$ because of my charges and amount of work going constantly up things started to go bad with the owner) with my other job and started to think it's not gonna be worth the risk. I was also kind of irritated by the negotiation that took place as we already did a first negotiation when i first met him. I decided that i'll keep my other job and that when i'll call him back i'll ask for 4000$ explaining that it needs to be worth the risk and worth the money difference for me accepting it (i was certain he'll decline and that it would be the end of it). I was wrong, he accepted a couple of days after my call and a week later i took a plane with the team to do the translating/interpreting job that i never did. I accepted because i listened to what life had to offer and i had to fight my envy to do what i love no matter what (for the good of my wife and my future). I felt like my brain was fighting me everyday after i accepted the job, scarred to death of what was coming. Before i left, i needed to tell my first employer that i was leaving to which he said that he'll need me at least 4 months for the transition. Even though i didn't have any obligation because i wasn't under any contract i still did and helped them with the transition. It wasn't easy as those 4 months were physically difficult but it was doable. The first day of my new mission was rough... No vocabulary in advance, no explanations. The guy came to the room and instantly started talking without even waiting for me to start interpreting. It was one of the most difficult days in my life and the next two weeks of theoretical technical explanation in front of 30 people that i needed to interpret to. But i did it. It wasn't perfect and i think that's ok at least at the beginning but after those two weeks my brain adapted to the fact that i needed to listen to reexplain in another language and i learned as much vocabulary as i could. It worked and was starting to be fun. The only difficult part was getting used to speak in front of a lot of people that are actually listening and trying to understand everything and also scarred by doing mistakes. Even though i was fluent with my three languages translating or interpreting is something else. The professional life that i had here taught me one thing which is being flexible, being adaptive to anything and self-teaching what i can. I never cared about what other study or what studies they did, all i cared and still care is what they can do and how good they are with it. nothing else. So even though it may not be that great living here, it taught me at least that. Today, i'm still translating/interpreting in the same company and have two months to go before my contract expires and before leaving to my home country with my wife. I'm happy with the job as i like translating and interpreting. The human interaction is great and discovering new things everyday in a field i would never imagine being in. What is certain is that something similar is gonna happen to me in two months when i'll be back to my home country searching for a new job and doing this process again. Although, this time it's gonna be easier to do as i already did it before. My advice is, don't be scarred of taking a risk in unknown territories. Develop your adaptive skills, try and keep trying. Of course, i wouldn't take it if i didn't speak those languages but i think that you get my point. I hope that i didn't sounded arrogant and that it may help someone in the same situation today or in the future. Take care folks. [link] [comments]  |
| Girlfriend Pregnant, Recently hired at Home Depot, Considering donating bone marrow for cash Posted: 28 Oct 2018 03:26 PM PDT Title says it all but I fill in the details:I'm 24 and my gf is a day older. My girlfriend of 5 years is now about 13-14 weeks pregnant now. I've lived with her for the better part of 5 years. Alcoholic step father thought I would grow up more responsible by kicking me out soon as I graduated HS. Gf has been helping me since. I worked pretty low paying jobs (Subway sandwich Artist/Telemarketing, some side jobs with my uncle) So we're pregnant. Recently got hired at Home Depot as a garden (part-time, unfortunately) I start my training this Tuesday) My gf was a manager at Forever 21 making decent money but lost the position she held due to trying to transfer to another bigger store in Las Vegas (we're from Cali). The manager position wasn't given to her, and was offered a sales associate position. At the time, we had planned to live with my godmother for a month before moving into our own apartment. Vegas is cheaper than Los Angeles, that's for sure. The reason we decided to move to Vegas in the first place was to have our own apartment because we were and currently are living in a crowded home with her mother, and for me to have a better job than working Subway part-time. Anyway, that didn't work out as planned. Before making the big move (I went first, this detail matters later on), I tried talking my godmother about how much she wanted for rent but said that we would "talk about it when you get here." Fine. We were desperate, and the idea of my gf working at a bigger Forever 21 store with a higher wage and having our own apartment sounded great at the time. My godmother ended up asking me for $500 for the rent utilities included. The rent was about $950 split between my godmother, my elder sister, and me/gf. The gas and water was split between the landlord and us. My godmother knew of our plan and knew we would be leaving soon, but charged us too much. Well, we thought, "fuck it" because my gf had already accepted the demoted position/pay, and I was scheduled for an interview at a casino nearby (help provided by a job agency). When I gave notice to my godmother that my gf was finally ready to move (about couple weeks after I went) she refused to let her stay and said I needed to pay the rent before allowing her to come. I tried to inform her that I had an interview, and that my gf has a job already - it didn't matter. So we decided to stay in Los Angeles. Unfortunately, her original position was filled in before my gf finished her last week of work and had to quit her Las Vegas SA job before starting, causing her to be jobless and me having to refuse the job offer in Vegas. Now we're behind two months on our phone bill, behind on our credit card bills, and stacked up another $500 on a uber credit card bill my gf had to apply for for a manager position about an hour away from Los Angeles. *couldn't keep because we didn't have a decent means of transportation.* And we're expected a baby (13 weeks = the size of a peapod btw it looks cute!) So, I've just been hired at part-time at Home Depot as a gardener. I really don't want my girlfriend to be working while being pregnant, she already stresses enough. She's trying to file for unemployment but the chances are slim since she had to quit the last two jobs. Our debt has accumulated to about 3500 total if we did the math right.- I've sold my Runescape account for about $250 which is a drop in the bucket.- I'm getting CalFresh (Food Stamps) every month but I use that to feed/pay for the crowded house we live in ( I don't even feel like its morally okay to receive stolen tax paper money *thanks Steven Crowder for changing my mind* NOW, my question is: What are our options here? Should we apply for a loan with Wells Fargo? consider donating plasma/bone marrow? EDIT: I'm decided to go to a trade school tomorrow, or at least get information. I know a place nearby. I know how well plumbing pays because of my uncle. He actually makes decent money, he's a drunk. Will be updating if y'all care for it. Thank you all for the advice. I know I can be thick headed. Thanks for not being gentle, I actually mean that. [link] [comments]  |
| Posted: 28 Oct 2018 03:32 PM PDT This is probably something that many people don't think of when they travel to another country and I haven't found any really useful information about this. I am an American and my grandma and grandpa(who live in Russia) are going to be arriving to the U.S. in mid November and are only going to leave by the beginning of March. I know of the horror stories of tourists travelling to America then getting sick and having to stay at the hospital for 1 day only to get a $20k bill. I want to avoid that but I don't know how. Is there some kind of insurance I can buy that will help in case of emergencies? If not what can I do in case they get sick. [link] [comments]  |
| Am I crazy for even considering this? Posted: 28 Oct 2018 10:04 AM PDT I have horses. Horses are stupid expensive. I have an opportunity to purchase a part of the facility where I am currently keeping my horses. Still in talks with the owner. But will be able to purchase 10-20 acres at a cost under 150k. Loans on land are hard to get. But I have 2 people who are willing to privately finance the purchase, so getting the cash together will not be impossible. The awesome thing about this land is the location. Literally 10 minutes from me. There is fencing up but it is near the end of its life. Perfect homesite for barn + small apartment. It is also across the road from a large national forest where I ride. There is not a better location for horses in my area. Anything else I could buy is farther away. The land DOES NOT PERK. It is unsuitable for development. I can put in an alternate septic at a cost of ~10k per bedroom. This is why it is not worth very much. Statistics:
So that's where I'm at right now. Obviously I really really want to do this. I have wanted my own farm my entire life. It is my lifelong dream. I have the experience and talent to succeed running a horse farm. But at the same time I am worried about overextending myself. [link] [comments]  |
| No longer qualify for ACA subsidy, no Medicaid expansion in FL Posted: 28 Oct 2018 10:53 AM PDT My sister had to leave her job in June due to the pile-up of health conditions she has developed during the past few years. She was a housekeeper and she developed severe plantar faciitis that required surgery, but now she can't get the surgery because she had a stroke and was diagnosed with a rare disorder called MoyaMoya that will more than likely require delicate brain surgery next year. In addition, she has severe learning disabilities that exclude her from just about every "desk" job. She doesn't read well and has no math abilities, so she can't even cashier. She has applied for SSDI, but that may take years for approval. Anyway, she earned just enough this year to qualify for ACA subsidies, but next year, she won't have any income, so no subsidy. In addition, she lives in Florida, so she can't get Medicaid because she is a single adult with no dependents. Due to her conditions, it would be crazy to have NO insurance, so it looks like I'll have to pay her premiums out of pocket, which will likely be $600+. I only make $56K per year, so that's going to be a lot of money for me. I guess my question is, are there any programs or alternatives or for her that we don't know about? I can't find anything, except, "Sucks to be you..." I mean, I get that's probably the case, but I just thought I'd ask? [link] [comments]  |
| Target Fund vs Index Fund (100% stock market) Posted: 28 Oct 2018 06:19 AM PDT I have my 401k maxed. The 401k uses Fidelity 2060 Target Date Fund. My HSA is not invested in anything yet and plan not to until I reach $7500 as it currently is around $1500 (so I can visit the doctor in case of emergencies while saving some tax unless this is a bad idea and should also be invested from the start?) My rest of money I might need is more short term on CDs and us treasuries of 3 month (rolling every month as I realized the APY is higher from US treasuries over putting the savings in a bank), 6 month, 2 years, 4 years, 5 years, 6 years. I already have 6+ month worth of emergency savings on my savings. My FICO score puts me at around 800 and I have no loans or debt. I have also maxed out my roth IRA. What I wonder about is should my roth IRA also be on the Fidelity 2060 Target Date Fund? If the 2060 Target Date Fund does not do well, would that not be risky for me as both my investments (401k and roth IRA) gets impacted? I also feel like I'm comfortable enough in investing right now that I want money to compound interest. Is it safe to put 100% of my roth IRA into index funds (which is all more or less stock market) or is there advantage in bonds? Wouldn't bonds over time lower the potential compound interest of the stock market or are there cases and reasons in which bonds are useful over purely stocks themselves. I'm considering treating my roth IRA similar to my 401k. I'm just wondering if I should be putting roth IRA also in the same target date fund (put everything in 1 basket?) or just go 100% market following indexes (US market + international) or some type of lazy portfolio like the Core-Four Portfolio with 20% bonds. Could anyone explain to me what the benefit of having bonds are having long term considering inflation in the market over say 45 years should make stocks increase irregardless? [link] [comments]  |
| Should I opt in to the military's new "Blended Retirement System" Posted: 28 Oct 2018 11:59 AM PDT I'm an Army officer with seven years of service. I'm married and have a toddler at home. The legacy retirement system that I am elligible for is a simple pension. At 20 years of service, my pension would essentially by 50% of my pay, starting on the day of retirement. I'll be in my early 40s. The catch? If you don't serve honorably for 20 full years, you don't get a cent towards retirement. The military has a new offering; the "Blended Retirement System," which all new Soldiers automatically fall under. I and others with similar time served get to choose whether or not to opt in to this program. The BRS retains a pension, but the amount is reduced to 40% of base pay, but it adds a 401k with an employer match. The government matches contributions up to 5% of a Soldier's pay. I already contribute 12% of my pay to this 401k/IRA equivalent, the "Thrift Savings Program." My contribution would increase to 17% under the BRS. To boot, I would become elligible for "continuation pay" at roughly 12 years of service. Continuation pay is basically a bonus to get you to committ to more time served. Rates vary based on retention goals. It would be safe to plan on a 30k lump sum at 12 years. The nest-egg accumulated, to include the government match, goes with the Soldier when he leaves the service, even if it's shy of 20 years. Using the calculator afforded to my service, and confirming with my own math I learned the following: Assumptions- Life expectancy of 85, normal career progression, retire at 20 years, start pulling TSP nest egg at 60, assume 7% growth Old System: Pension $6,237,000 TSP (no match) $1,943,000 Total $8,180,000 BRS: Pension $4,990,000 TSP (me) $1,943,000 TSP (match) $809,000 Total $7,742,000 I love my job, but I love my family. I've given a lot to this profession, and missed most of my daughter's life. I'm tired and I don't know If I have another 13 years in this business left in me. That said, I'm committed to serving a 20 year term. The idea of reducing options, of cornering myself into another 13 years of service for a pension, seems foolish. What would you do? Am I being gun-shy for no reason? Should I just pull the trigger and opt in to the program? I've got until the new year to decide. What would you do? [link] [comments]  |
| Posted: 28 Oct 2018 10:17 AM PDT https://awealthofcommonsense.com/2014/02/worlds-worst-market-timer/ I'm sure this has made the rounds in this subreddit but this is something I always think about when the market fluctuates and I need a pick me up. [link] [comments]  |
| Friend offering to pay me $100 for me to create emails Posted: 28 Oct 2018 08:01 PM PDT Hello Reddit, I was recently texted by one of my friends who i have known for close to 7 years and he was asking me to create email accounts for him. He asked me to create 15 email accounts and offered to pay me $100 for it. He wouldn't tell me why he needed the emails or how he was using them to make money but seemed a little off to me. He isn't a bad person or is not shady but it is just confusing to me. I could really use the $100 right now but I was wondering if anyone knew how someone makes money like that from using emails. Thanks [link] [comments]  |
| Posted: 28 Oct 2018 11:22 AM PDT I have inherited an IRA and brokerage account with a wealth management company. Their rate for managing the accounts is either 1% yearly or $50 plus trade commissions yearly, depending on whether I let corporate or the local broker manage the accounts, respectively. I haven't had the best first impressions -- the broker is old school: wants all business conducted via snail mail, doesn't "believe in" ACH, but most importantly I can't manage my own positions via the web on either of these accounts. I'm doing a lazy three fund portfolio on my own Roth IRA and would really just like to initiate a trustee-to- trustee transfer of the inherited funds into my own accounts so I can continue this strategy without paying management fees on one IRA . Is there some amazing RJ service I don't realize im giving up by leaving RJ altogether? I often read here about how the best traders can't consistently beat index funds and so management fees are 'wasted'. All positions in both inherited accounts have been liquidated, so they are both currently all cash. [link] [comments]  |
| How do I start managing my finances in my first job (IN) Posted: 28 Oct 2018 06:47 AM PDT I am on my first job and only started recently. I make about $450 in a month and I live in India. How do I get up to speed on good personal finance and trying to build wealth? [link] [comments]  |
| Need financial help for a lost 19 year old Posted: 28 Oct 2018 05:38 PM PDT Hello, I'm sorry if this is asked all the time - there is a lot of information on here and it differs quite a bit. I was hoping somebody could help me choose a credit card and just give general financial advice. A little information about myself, I am currently nineteen and in college. I have a basic checking account with Wells Fargo, but that's about it. I have no previous credit, no loans or anything. I recently got a new job, and was hoping to save some money and build credit due to wanting to move to an apartment next year. I am not a prolific spender, I am actually quite frugal and great with my money. Paying off my credit card at the end of the month is not a worry for me because of how responsible I am. I spend quite a bit on gas, so I would love something that gives cash back for that if possible. Also, should I be opening a savings account soon? If so, what is a good percentage of my paycheck to put into savings each month? Sorry if this is sporadic, I have a lot of questions due to growing up in an orphanage and not getting any guidance on financials. Thanks! I really appreciate it. [link] [comments]  |
| How do I prepare to ask for a raise during my one-year review? Posted: 28 Oct 2018 06:50 PM PDT I work for a tech company HQ'd in San Francisco in a remote office and coming up on my one-year review. I've hit each of my quarterly goals/asks. While I am part of the sales organization, I am directly responsible for closing new business but rather to retain client business. Generally, what should I come prepared with to ask for a raise? What's an acceptable % ask? [link] [comments]  |
| Posted: 28 Oct 2018 05:06 PM PDT With open enrollment right around the corner, I'm trying to decide between enrolling in an HDHP (high deductible health plan) and opening an HSA, or just saving my money into an emergency fund. Background info: Mid-20's, single, ~5k student loans, gross 65k a year, 10% in 401k, 10% saving for house down payment. Based on the personal finance flowchart, one of the most important things, after basic living expenses, high interest loans, and minimum retirement savings is establish an emergency fund. I'm looking to put away about $200 a month into an emergency fund. With medical expenses being one of the primary causes of bankruptcy in America, my goal is at least have enough to cover my out-of-pocket maximum of $15,500 saved in an easy to access emergency fund. I've narrowed my options down to 3: 1.) HSA - Can vary up or down with the market, best tax incentives, but only can be used for medical expenses. 2.) High Interest Savings Account - Lowest potential for growth (most I've seen around around 1.75 - 2%), but very secure, easy to access. No tax benefits, but can be used for other things. 3.) Invest - Can vary up or down with the market, easy to access; I'd pick a very conservative mix (50/50 bonds to stocks), no tax benefits, but can be used for other things Is there anything I'm not considering, or that I should do otherwise? Thanks. [link] [comments]  |
| How should I invest the money I've saved in the military? Posted: 28 Oct 2018 06:16 PM PDT Thankfully I learned from my father how to avoid debt and build good credit, so I'm set up pretty well at 21. But what kind of short term investments can I look into to combat inflation on what I've saved? I estimate I will have about $25k saved by the time I separate from the military in two years. My credit score is currently at 704 and climbing, up from 650~ (no credit history) earlier this year, so I'm hoping to be at around 750~ when I separate. My plan from there is to use my G.I. Bill for the free college and possibly work a part time job just to sustain myself during that time and not dip into my savings. Where can I put that money to best serve me so that by the time I am ready to purchase a home I will have a decent deposit? From what I understand I should be shooting for a growth rate that exceeds the rate of inflation so my money doesnt lose it's value over time. Also if there are any vets with advice I would really like to hear some ways you set yourself up for separation or mistakes you made that I should avoid. Thank you. [link] [comments]  |
| Medical Debt Forgiven - Tax Impact? Posted: 28 Oct 2018 07:53 PM PDT I heard last week on the radio about a company/charity that buys medical debt at very low prices (i.e. $1000 for $1,500,000 worth of debt) and then forgives it. Sounds great, especially with people struggling with medical issues and no way to pay that debt. It must mean the world to them. But I couldn't help thinking, doesn't the debtor who couldn't pay their bill now owe taxes to Uncle Sam on the forgiven amount? And isn't that worse than owing some credit agency who can't really collect? Wouldn't it be better to buy it and stop chasing/harassing the debtor, but never forgive it, thus preventing that tax event from ever occurring? Am I overlooking something? [link] [comments]  |
| What is a good way to learn/start investing? Posted: 28 Oct 2018 07:50 PM PDT Currently active duty with the Army. I have about 200 dollars of unused funds every month. [link] [comments]  |
| Graduating Highschool This Year, Overwhelmed Posted: 28 Oct 2018 05:35 PM PDT Pretty much, I'm a high school senior graduating this spring, and I have a lot in my head. I want to be good at finance, so any help is appreciated. I love the idea of investing. I've studied it, but have read everywhere that I should first put money into an emergency fund. I've been working since I was 14, and I now balance two jobs and school so I have a decent amount of money for my age (18), I just want to make sure I can keep that theme through my college years. I've always been told go to college and get a degree, but from the way I see it, everyone is trying to do that. I have no talent in the high paying jobs like coding or medical stuff, and I the degree I'd probably end up pursuing would be something with business, which I know is the most common degree. So - wouldn't it be much smarter to go into a trade like plumbing or electric or construction or something? If there's less people going in for those kinds of jobs, then that seems like a good avenue. I'm good at school, but I enjoy doing almost anything as long as I'm getting paid for it. I also want to get a credit card ASAP so I can start to build up my score. I'm sorry if this is super long and doesn't have a point, I'm just a new adult who's trying to learn adulting. If anyone has any tips or stories or feedback, please let me hear it! Thanks. [link] [comments]  |
| Unable to get relevant job experience Posted: 28 Oct 2018 11:16 AM PDT I'm in the Chattanooga, TN area. My dream is to be a Park Ranger or work for the National Parks Service. We have a multitude of parks in this area, and yet I can't find any of them hiring or even offering volunteer or seasonal positions. Im desperate to get some experience, even if it means working for free. Can anyone offer some advice? [link] [comments]  |
| You are subscribed to email updates from Personal Finance. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment