Personal Finance I am failing out of nursing school and my parents are asking me to pay it back. How do I move forward with no help? |
- I am failing out of nursing school and my parents are asking me to pay it back. How do I move forward with no help?
- Wife passed away, how do I handle her small Roth IRA?
- Should I sell my car knowing I won't really need one for about 2 years?
- Is there an app that can round up any purchase I make to the nearest $ and put the difference in a savings account?
- When do I move out of my parents’ house?
- New boss offering higher salary if I classify myself as 1099 Form Independent Contractor instead W-2 Form Employee. What factors should I be considering in this decision?
- Seeking advice on accepting a job offer.
- I am 30, single with 10k in the bank, making about 25k a year. I work for myself as a carpenter and bartend on weekends for extra cash. I'm looking for any financial advice on buying a fixer upper, appropriate down payments, and anything to look out for. This would be a huge step for me. Thanks!
- Dual inquiry from same company and time
- Does it ever make sense to buy the extended warranty for a car?
- Four months without notice and now they’re going to disconnect my water and power
- I don't know what to do, got money but...
- I found out that I could earn the same money by switching to part-time(China)
- Almost new grad - financial help!
- 18 year old in college and just realized how much time I've wasted by not managing my money earlier, need help getting started
- Owe about $8000 to four different credit cards, how should i go about paying them off?
- Should I participate in the ESPP?
- Someone totaled my truck while it was parked.
- Am I crazy for thinking about taking 12 months off to learn a new skill and change career path?
- 24 y/o weighing going back to school vs staying at desk job
- Graduate degree questions (kind of complex)
- Corporate Credit Card
- Credit card application denied; trying to build credit
- How to cash out of annuity ($2000)?
| Posted: 02 Dec 2018 11:50 AM PST Everything has started to go down hill since fall of 2016 and I'm hitting rock bottom. I am failing out of nursing school. Failed a nursing class last semester and retook it in the summer [usually they do not offer same yr retakes, but offered it during the off season] and it cost me 2k. My parents have been paying for school under the requirements that I do well. Since I did not do well, I paid for it. I wrote a check and took the class, passing with a B+. I have suddenly found myself in the same situation. I am failing both nursing classes now [C+ in both, I need B- to continue]. I can retake one, so now I have to leave my school. My parents told me I have to pay them back for the semester [~14k]. I have 12k to my name that I have saved by working a lot since 15 years old. They will not pay for future semesters at the school I will be transferring to. This school accepts previous dismissals from other schools, but I have to add a year. So, right now I am a junior, I will be in school for an additional year at this institution. However, I cannot get financial aid because my parents make over 200k combined. And like I said, they refuse to pay for it. My boyfriend helps me financially every once in a while, but I anticipate him leaving me because my new school will be around 2 hours away from him. This is really really hard for me. I'm disappointing my parents, my boyfriend will be leaving me, I am leaving my friends, I can't pay for school, and I am soon to be in debt. How do I move forward? Do I take out loans? I don't believe I can get financial aid due to my parents income. How do I do this? EDIT: I have no job currently, no car, and I think my parents would charge rent if I decided to stay home. I have no credit, no credit cards, or any debt in general so far. [link] [comments]  |
| Wife passed away, how do I handle her small Roth IRA? Posted: 02 Dec 2018 11:03 AM PST My wife of 20 years passed away last month. I've been slowly coming to grips with it but there are some financial decisions I need to be prepared make soon. This is one of them. We had a small Roth IRA set up for her a few years ago with a small amount contributed every month. Now that she is gone what are my options for this account? Total amount in it is about $25k or so from the last quarterly update we saw. I have a new job now (started two weeks before she passed) and make substantially more than I did previously. That amount represents 2-3 months of my new takehome pay in a LCOL area so I'm fine. So I'm considering passing it on to her two grown children who need the money far more than I do. I'm already planning to split the life insurance (around $40k) between them. That would be a life changing sum for each of them if they set it aside as an emergency fund to give them freedom, or invested in their future somehow. (Edit: it would be about one years salary for each of them) But I don't know the tax implications of dealing with this Roth. I made almost all the income during the time we had it -- she only worked a couple years for pay during the time she had the Roth, the rest was volunteer work up to the day she passed. So all the payments into it were essentially mine with the tax already paid up front, withdrawn from a joint bank account we've held all along. What are my options for dealing with this Roth IRA? If I can cash it out will I be required to pay tax on it again since it was her Roth even though it was my income paying into it? Or will her kids? (my understanding is it would be a gift so no taxes paid by them but I want to be sure) Anything else I need to be aware of? Pitfalls? Other better ideas? Suggestions? This is all uncharted territory for me. Also don't worry I'm not making any major financial decisions emotionally. I know this is a common concern. Just want to know what the options are so I can potentially give them a large gift from her which is what she always wanted, to provide for them more than she was able to before. She had a very hard life and was supposed to finally be able to relax now that we hit the easy times. I'm going to honor that. They have no idea any of this is coming so I'm looking forward to being able to honor her wishes. edit: Thanks to everyone who has taken the time to respond. Your advice and thoughts are all appreciated. Summary of what I've got so far:
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| Should I sell my car knowing I won't really need one for about 2 years? Posted: 02 Dec 2018 02:18 PM PST Hello, I am just looking for some advice about my car. My car loan is up August 2019, I am paying $620 a month in car loan plus $120 a month for insurance, yes $620, young dumb mistake. I recently started a job where I work from home so I use my car once a week now on average. I don't have a lot of debt just my car loan and about $1500 on my credit card. I am thinking right now "yes I will have lots of money I can save now" but long term I am worried about car insurance for not having a registered car for almost 2 years. My car is a Chrysler 200 so it's resale value isnt great now, let alone in a couple years. I live in downtown Edmonton with access to a lot of public transport or ride sharing so that really is not an issue for me, plus I am already saving to go to Europe next summer. So I am thinking I'll get a new car when I come back from Europe. Thanks in advance! [link] [comments]  |
| Posted: 02 Dec 2018 01:57 PM PST I bank at PNC and they don't offer anything like this but I'd like to use an app or bank program that has an automatic savings account deposit feature that is used every time I purchase with my debit card. For example, I'd like features where I could set it to deposit $5 into a savings account from my checking account when I use my card or even a microtransaction feature where if I buy something, let's say a cup of coffee, and the bill is $3.50 the cost would be rounded up to $4 and 50 cents would be added to the savings account. Does anything like this exist? [link] [comments]  |
| When do I move out of my parents’ house? Posted: 02 Dec 2018 08:35 AM PST I'm 23 and live at home with my parents in Boston. I have a good relationship with my parents so there's no incentive really for me to leave. I don't have to pay for rent or groceries, or cook for myself unless I feel like it. It's the life! Plus my parents love having me home. Income-wise, i have been working full time for about half a year (salary's like 65k after taxes). I paid off my student loans (only had 13k) and have about 14k liquid. Work is stable and my commute is OK (~50 min, but a very relaxing 50 min on a cushy train). My expenses are ~1k a month, The majority of my expenses are eating out with friends and taking a rideshare home. Just all entertainment and fun stuff. I would probably save around ~200 in transportation if I moved closer to the downtown. Next year I'm planning on taking ceramics classes on the other side of the city so that might add to my transportation expenses, but I did some math and it wouldn't ever be worth moving out for transportation alone (at least not for saving $, but maybe time?). Rent in Boston is like $800-$1200 a mo (and with roommates!) I don't like feeling like I will stay with my parents indefinitely, but I have no reason to leave and can't see a situation where I would leave. I suppose one day I'll feel that I'm too old to be staying with them, but I want to know when that will be. TLDR: How long do I live with my parents when there's no incentive to leave? How old is too old to be living with your parents? [link] [comments]  |
| Posted: 02 Dec 2018 07:13 PM PST Background: I'm 23, just out of college, living in New York City. I've been hired as the assistant of an author, working part time the last two months @ $400/week, paid to me via Venmo. In the New Year, I'm going full-time to be paid $800/week. I work from home, managing the author's website, answering emails, and shooting/editing videos for his YouTube channel. I asked my boss if he could put me on payroll in the New Year. After talking with his accountant, my boss proposed a plan where he'd pay me an extra $600/month to go towards health-care, in exchange for me classifying myself as an Independent Contractor and foregoing payroll. He's told me it'll cost him more or less the same amount of money, but that he'd save the trouble of setting up payroll, and I'd be able to write off things as business expenses, because I'd be my own business (?). He's a nice guy, but I'm fresh out of university and don't know too much about taxes or health-care, so I'm concerned I might be taken advantage of. After doing my own research, I've learned that Indie Contractors pay double the FICA taxes on their income (what I've heard called the "Self-Employed" tax), so I'd pay 7.65% extra tax on my annual income. Adding my Federal, State, and Local income taxes, I've calculated my post-tax income as an Independent Contractor would be: $35,000/year On the other hand, as a W2 employee, though I'd get a lower salary, my boss would pay more of my taxes, so I calculated I'd take home $34,000/year, post tax. While on paper, it does seem I'd make $1000 more this upcoming year by choosing to be an Independent Contractor, I'm wondering if there are other factors I'm not considering that make being a W2 employee more appealing. I would really appreciate some guidance from /r/PersonalFinance. I've only ever lurked on Reddit before, but my roommate is an avid reader of this Sub-Reddit and suggested I pose this question to you guys. Thank you so much! [link] [comments]  |
| Seeking advice on accepting a job offer. Posted: 02 Dec 2018 03:06 PM PST Hi Reddit. I'm seeking advice on accepting a job offer that was recently made to me. For some background, a friend of mine recommended me for the job (this is for a PR position in NYC, if it matters), and tomorrow I will be giving my notice to my current organization. Giving this notice will be very tough for me because I have a personal relationship with my bosses and they essentially created my current position for me... it's just not working out, as appreciative as I am. But I digress. I also know that this particular HR employee is brand new to the company, and while my start date is January 2nd, she first tried to tell me that it was January 1st (New Year's Day) which I thought was strange that the company wasn't closed, but she later corrected herself. I asked for a slight salary adjustment ($5k more than what they offered me, which for a moderately-sized company has never been a big deal) and was expecting them to meet me in the middle with an extra 2-3k. The HR woman emailed me late last night and asked if she could call me this weekend, which I also thought was a bit weird, but I obliged and spoke to her today. I asked if there was any flexibility in the base salary and she kind of danced around my question and reinforced that I will likely receive a 15-20% bonus at the end of the year, putting me well into the range that I'm asking for. It is of my belief that a bonus should be a separate consideration from your base salary, and it would be truly helpful to get that extra couple of grand in my regular paychecks. Anyway, apologies for the long explanation - my question is whether I should email her one more time in the morning to ask if there is any flexibility in the base salary to triple check, or just accept the offer as it has been sent to me and be done with it? I told her that I would think about it a bit more and give them a final answer tomorrow (I also have to give notice to my bosses tomorrow to be able to provide them with enough time for a transition). Any help is much appreciated, thank you in advance! [link] [comments]  |
| Posted: 02 Dec 2018 07:40 PM PST |
| Dual inquiry from same company and time Posted: 02 Dec 2018 06:12 PM PST So I just checked Credit Karma for the first time in a while. I noticed there were two hard inquiries from the cable company when I moved to my apartment about a year ago . My score is in pretty good shape right now, sitting at 760. Would it even be possible to figure out why there are two and possibly remove one? Is it even worth the effort? [link] [comments]  |
| Does it ever make sense to buy the extended warranty for a car? Posted: 02 Dec 2018 06:17 AM PST My husband and I bought a Subaru outback for around $32,000 almost 3 years ago. We've been very happy with it and plan to keep it for a very long time. We just got a note in the mail saying that the basic three-year warranty will expire when the odometer reaches 36,000 miles or at 3 years, whichever is first. They are offering two extended warranties: 42 months/60,000 miles for $750 OR 42 months/80,000 miles for $980 It says that the classic plan *protects your investment by paying for parts and labor on major mechanical repairs *covers wear and tear items not usually covered by other extended service plans *includes towing and rental car allowances necessary for covered repairs *provides an inflation hedge on future repairs There is a Subaru service center about 30 minutes away (we are in NY), so we are thinking of going for it. Usually, extended warranties aren't worth the paper they are printed on, but this seems pretty good. I'm not sure how to judge it. Thanks! edit: Part of the issue is that I don't even know how to judge if a warranty is 'comprehensive.' We traded in our first car after 3 years for this one, so I have never had a car for more than 3 years, so I don't know what type of repairs/maintenance to expect. Neither car had an issues within the first 3 years. edit 2: So far, I've learned that 1) extended warranties are typically recommended for people who have a Land Rover (expensive car to maintain) or no emergency car fund (though perhaps there are other exceptions), 2) a 42-month extended warranty is only a 6-month extension on a 3 year warranty, 3) to be wary of third-party vendors and to read what is covered under the plan, and 4) warranty is spelled with an two a's. Thanks kind redditors! [link] [comments]  |
| Four months without notice and now they’re going to disconnect my water and power Posted: 02 Dec 2018 07:51 PM PST I had an automatic payment set up for my water and power bill. There was a maximum amount set that I thought wouldn't be surpassed. Apparently the last few months it did go over and payments weren't made. I was never notified until this last week. Now they're billing me $300 including late fees, restoration fees, and overtime fees. Do I have any recourse? [link] [comments]  |
| I don't know what to do, got money but... Posted: 02 Dec 2018 06:11 PM PST I have a degree in BA, but failed to get a job for my entire life, wanted so much to get a good job that I always ended screwing things at work (I think). After not finding a good job, tryied opening a school. failing opening my small school, I got back to university to became an engineer. When doing so, my dad passed away and left me money for something like 2 good houses and rent that can make me live ok for the rest of my life. The problem is, after all that happened, I just lost my strength to keep studying and trying to get a job. My wife is doing OK and make the same as me with her PhD, and is ok with me not working. What should I do? [link] [comments]  |
| I found out that I could earn the same money by switching to part-time(China) Posted: 02 Dec 2018 07:00 PM PST I'm a teacher in China, earning about $50k a year. It's good money, but the workload is extremely heavy. About 30 hours a week contact time, plus a minimum of 10-15 hours paperwork. The school is kind of stuck for teachers, so they've hired some part-timers at $80 dollars an hour. I did the math and figured I could cut my workload in half whilst still earning the same salary. I'd be missing out on certain benefits, like paid holidays. But honestly, I don't think that's such a big deal. I like working. As long as I get home once a year, plus one or two trips with my girlfriend, I'm happy. Also, despite having 40 days off a year in the contract, actually booking that time is a hassle. This is largely due to the lack of teachers. I'd much rather work 3 days a week and spend the rest of my time developing a side skill or business. There are six months left in my contract. I had been planning to take a semester off work entirely, during the summer and fall, for a necessary medical procedure. I want to earn as much money as possible before then, as I won't have an income. Should I A) Push for a raise immediately B) Push for part-time immediately C) Hump it until the end of my contract and then re-negotiate. Convalescing would be a good excuse to switch to part-time. While I do want what's best for me, I also acknowledge that I've signed a contract and should stick to it. [link] [comments]  |
| Almost new grad - financial help! Posted: 02 Dec 2018 08:23 PM PST My husband and I will be graduating in the next several months from graduate programs. We are in debt up to our ears and want to figure out how to tackle the student loans in a smart manner as well as begin our retirement, savings, and emergency fund. Any recommendations about percent salary that should go towards savings, lifestyle, loans, credit cards, etc? This is a very vague post on purpose. I'm just wanting estimates to help get started with our post-grad budgeting. Thanks in advance. [link] [comments]  |
| Posted: 02 Dec 2018 05:35 PM PST I am an 18 year old in my sophomore year of college and only recently started taking an interest in money management. I have around $3000 saved up in my savings account where I receive like a 0.50 APY. I know that is a terrible amount but unfortunately I am unable to switch to a different credit union. I currently have no living expenses as my parents are extremely generous to cover those, and I attend university on a full scholarship. I would like to begin growing my money at a stage in life when I have no expenses but don't know where to begin. I looked into setting up a laddered CD but that seems too passive and slow for my liking? Maybe I'm just ill-informed and naive about that perspective though. I do not have any upcoming expenses and don't "need" to spend any of my money for a long time. My parents also give me around $150 month, of which I spend roughly $50 per month when I do spend it. That leaves me with at least $100 every month that I don't know how to most effectively grow. I looked into Vanguard's SNP 500 ETF but I'm also not sure how that works and if its a good point to begin. Their minimum seems to be $3000, which I can afford. I know stocks are a more volatile and longterm option always, but if I can expect any growth faster than my current 0.50 APY from my savings account, from my perspective I'm doing better. Any advice on how to get started would be immensely appreciated, as most of the advice that's going around seems to be for older people with retirement goals and living expenses that I just don't have. I want to save my money purely just to save my money; as long as I see progress, I will gladly keep doing it. [link] [comments]  |
| Owe about $8000 to four different credit cards, how should i go about paying them off? Posted: 02 Dec 2018 06:24 PM PST First and foremost I have already stopped using them, but its been slightly difficult to pay them off as i didn't have a job for a while.i have a job now and have begun making payments. I hear debt consolidation would be a good route to go. But can anyone give me an ELI5 on how that works? Would ot be better just to keep paying them separately? (Seems more stressful having to worry about paying multiple sources rather than one) Also, if there are any alternative routes, what are they? What are the pros and cons of going through each of these routes? And finally how can i decide which route would work best for me? I appreciate any info and any advice on any of these questions! Thank you. [link] [comments]  |
| Should I participate in the ESPP? Posted: 02 Dec 2018 12:52 PM PST I'm currently contributing to a limited self directed Roth 401k w/ a 6% $1 for $1 match. The company also offers a 7.5% discounted ESPP, w/ a 6 month purchase period, which you're able to contribute up to 10%. The stock is down roughly 32% this year, however, predictions are pointing to a very good year in 2019. Would you participate in this? [link] [comments]  |
| Someone totaled my truck while it was parked. Posted: 02 Dec 2018 07:53 PM PST Kid was drinking, got arrested an all. I bought my truck for about $5,000 but I got a really good deal on it. Looking online ones in similar condition (there's not many) are going for $6,000-$8,000. It's a bad market right now to buy used cars. He has insurance and so do I. I have a $500 deductible for collision. His father might pay me $6,000 to "make the whole thing go away." My concern is I won't be able to afford a suitable replacement for that amount of money. If I ask him to file through his insurance I believe he will without issue. Will the insurance company offer me more given the current market? I've never been in an accident before and live on my own. Thanks in advance for any insight you have to offer. [link] [comments]  |
| Am I crazy for thinking about taking 12 months off to learn a new skill and change career path? Posted: 02 Dec 2018 09:33 AM PST So basically I work in marketing (male, 33) , but I want to move to a new career path that has better employment prospects i.e. developing/coding. My idea was to use $12 000 and move abroad to a developing country and spend 8 hours a day learning to code. I just want a job with higher earning potential and job security. So my thinking was by taking a year off and changing careers I might even do better financially in the long run "by taking this step back"now My financial situation: *No debt *No Student Loans (I do have a Masters degree in Business) *$30 000 in savings *Single, No dependents *Possibility that my current job will let me develop a new web app for one of their products and pay me $1000 per month, (i.e. what I need to survive for the year in Vietnam/Thailand/Bali where I plan to learn to code.) Also I have done some coding in my spare time and enjoy it but my current job doesn't allow me to make the progress needed to really go for it and change careers. [link] [comments]  |
| 24 y/o weighing going back to school vs staying at desk job Posted: 02 Dec 2018 11:19 AM PST I went to college for pharmacy out of high school. Admittedly, I was no where near mature enough for college at the time and let my poor decisions impact my grades. Ended up losing my scholarship and moving back in with my parents. This was extremely humiliating for me as I always considered myself intelligent and capable. I ended up talking to a psychiatrist who diagnosed me with ADHD and it helped me understand why I had been having such a hard time in life. For the past two years, I've held a job at a big bank, earning multiple performance awards. This showed me that I am capable of succeeding and gave me a lot of hope. So I applied to go back to school for something that truly interests me, Computer Information Systems, and I got accepted! I am now faced with a pretty significant dilemma. I have ~$6k in credit card debt, and ~$10k in student loans. Despite my successes at my job, I feel like moving up at a big bank without a degree is extremely difficult. Being that 2019 is the last year I can be on my parents health insurance, I am worried about leaving my job to go back to school full time because my meds are $330 a month without insurance. Also, tuition is ~$13k a semester and it's going to take me about three years to finish my degree if I go back full time. Personally, I think it's a no brainer to go back to school and obtain a CIS major and business minor. Would it be dumb for me to quit my job at the bank, work part time at a restaurant to pay ~$500 in monthly bills and take out more student loans? I feel like with this degree I will easily make double what I make now (~$35k a year), but everyone around me except for my dad says I should keep my job and just go to school part time. That would take about seven years to finish that degree and it just doesn't make sense to me especially because it would be extremely hard to do given my ADHD. Any advice would be greatly appreciated. Edit: I guess I should mention the fact that I have ~$4500 in my 401(k) and should get a ~$1400 bonus and ~$1500 in tax returns. [link] [comments]  |
| Graduate degree questions (kind of complex) Posted: 02 Dec 2018 07:36 PM PST Hi everyone, first time poster on a throwaway due to some personal stuff on this post. I'm not even sure this is the right subreddit, so please forgive me if this isn't the correct one. I have a couple of questions I would like answered, but they will be at the very end of this post since this will be long and complicated. Let me get basic some stuff out of the way. - I'm a junior at a large, top ranking state university in the U.S., majoring in Environmental Management with an Agricultural focus. - I have numerous health issues, including, but not limited to, two liver transplants, severe hearing loss (I wear hearing aids), suppressed immune system, several auto-immune diseases, and many more. - My monthly medications cost about $20k, but I'm on MediCare so that and everything else is covered - I have virtually no money saved since I was either sick or simply couldn't get a job due to my health insurance - Both of my parents are poor and will be helping minimally, if at all. - I have three sets of grandparents, two might help, but one won't be able to. However, the two that might help, while well-off, are also pretty stingy. - I will graduate debt-free from college thanks to online college being dirt cheap and me getting the max amount of grant money on FAFSA (enough to cover tuition, books and car insurance) - My grades are good but aren't great (~3.45 GPA after this semester), I had a really bad sophomore year with depression and overall online school is not a very good platform for me to learn. - By the time I graduate, I should be cited on 2-3 scientific papers, and will have about 500 hours of related experience (university soil science lab lab, AGV assembly and greenhouse) as well as about 500 hours of community service (mainly from a museum, which is where I originally wanted to work) When I graduate, (Spring of 2020) I will have a B.S. in Environmental Management and my university has a pretty good job placement program. However, I honestly hate the jobs my degree will comes with, I simply cannot be sitting in an office and managing people and while there is some flexibility to jobs I can find due to my pretty extensive (for an undergrad) lab experience, I also worry about finding a job where I can either: a.) Pay for health insurance or b.) Can get health insurance through the job with only a B.S. from an online program. Now, I've been interested in greenhouse agriculture for a long time, and while my university that I'm currently attending online has a pretty good horticulture program, it's not focused on what I want to focus on (highly automated greenhouse systems). Not to mention I abhor the town and the campus. I really want to go the University of Arizona; however, I'm concerned about a.) Paying for college (which will be almost $70k by my estimates as an out of state student) b.) Getting health insurance So, I suppose the questions are: 1.) Should I pursue a graduate degree, knowing I have to switch health insurances and find all new doctors (all 9 of them)? 2.) If so, how would I pay for it? 3.) Assuming I'm accepted, is there any way to speed up getting a new state residency since I will need that to get onto Arizona's Medicaid program (which would also cut the costs by about 50%)? Maybe I've overthinking this, but I don't want to graduate college and start my career with $70k in debt, for someone who's been poor all their life, that number scares the bejesus out of me, but maybe it isn't that much? I know for a fact the healthcare issue is my top priority, and if I can't get healthcare, no matter if they pay me to go to college, I simply won't be able to attend. I know this is a lot, and I know the medical parts don't really belong here, but I'm about a year from applying and I simply want to explore my options and get as much info as I can. Thanks in advance! [link] [comments]  |
| Posted: 02 Dec 2018 04:12 PM PST First job out of college, recently went on a business trip. Company had me sign up for a corporate card prior to the trip. Never had a line of credit under my name before, only loans I've taken out were federal backed student loans. How will this affect my credit? Any tips? I expect the utilization to be low, my job will require me to travel very rarely (Once a year maybe). I don't plan on using the card unless the expenses are busimess related. [link] [comments]  |
| Credit card application denied; trying to build credit Posted: 02 Dec 2018 03:54 PM PST I am 27, a graduate student on a TA/RA stipend making less than $20k/year. I have a credit score of 785, since my only loan is my car payment which I have been paying on time every month for one year (I also pay rent, gas and electric but not sure if those factor in). I have no other debts or loans. I've never owned a credit card, but want to start building credit. However, back in August I applied for a Capital One rewards card and was rejected due to "lack of credit history". I've waited a few months and want to re-apply. Should I apply for the Discover it Student Cash Back card (https://www.nerdwallet.com/the-best-credit-cards?trk_copy=hpbestcc), even though I'm a graduate student and my credit score is much higher than what they recommend for this card (~650)? Thx! [link] [comments]  |
| How to cash out of annuity ($2000)? Posted: 02 Dec 2018 06:24 PM PST Hey guys, My sister opened a variable annuity as part of her retirement benefits. She is a teacher so she has access to this product, which I believe is a 403b. I dont know the details about annuities, but reading a few ELI5 on it, seems like it's a shitty product with terrible long term prospects. Anyway, she has put in $2000 in the annuity and now I finally convinced her to contribute her money to a 457 deferred compensation plan (DCP) that she has access to. I'm a huge index fund guy myself, so I will be able to guide her along in the future once we set the right course from the start. My question for you all is what can she do with the $2000? I took a brief look at her contract, and it seems like the contract will terminate if her balance is small. There are contract termination fees (~$100), and the withdrawal penalty (10%), but I was told that you can't roll that to an IRA. You can only roll it to another 403b? She can invest it in the annuity account, but honestly I think that's counterproductive. I'd rather take a hit and cash out (somehow) and move on with this annuity non-sense. Thoughts? Got any tips on how she can withdraw/cash out and move on? [link] [comments]  |
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