Personal Finance Is it better to resign voluntarily or get fired? |
- Is it better to resign voluntarily or get fired?
- Use hours worked rather then Item cost when making large purchases decisions
- How much do you need to move out to your very 1st apartment? And other costs to be aware of?
- I recently learned my long-time girlfriend has a large amount of school debt, I was aware she had debt but assumed it was a normal amount most students have, around ~30-40k, it's 100k. I don't intend to stop dating her, I just need advice on how to begin dealing with this once we get married.
- My Job didnt take any federal or state taxes for most of the year. how screwed am I?
- My father (58) passed away last week. He had a sizable 401k, credit card debt, and no Will and Testament that I know of.
- Should I reduce 401k contributions to increase savings for eventual home down payment?
- Someone was able to get a credit card under my name despite using an incorrect social security number and misspelling my name. How am I supposed to protect myself from fraud if companies will give credit cards to anyone?
- If you have/want pets, they also need to be budgeted for.
- I am 13 and want to grow my money. What would you do?
- With the markets down, should I max out my IRA January 1st?
- How to advise a parent who will be left holding a surprise amount of debt when their spouse passes? [USA]
- Lost most financial value in 1 year.
- Obligatory Emergency Fund Saved the Day Post
- Turned 18 ~6 months ago. Am a member of USAA but don't have an Online ID. Trying to get one but since I am an overseas army brat and have no "Identifying Information" am blocked.
- Hiring a nanny
- I'm a poor grad student set to receive nearly 100k from an insurance settlement. How should I use it most effectively?
- Best investing style for someone in 20s
- Dental office sent debt to collection agency
- Rent a blank room or an apartment ?
- In need of a new car, what can I afford?
- Checking Account Hacked Twice in last 3 days
- Old 401k from previous job is losing money. New employer doesn't offer a 401k so I haven't contributed anything...
| Is it better to resign voluntarily or get fired? Posted: 22 Dec 2018 05:00 AM PST I was told last night that I'm up for a termination review. The review will be between my supervisor and head of the Office of Residence Life only, I will not be a part of it. I was told I had two options, either wait for the outcome of the review, in which case I might get fired, or voluntarily resign before the review concludes. Based on interactions with my supervisor I think it's very likely that if I wait for the review to conclude I will be fired. My supervisor suggested that it would be better for me to voluntarily resign since in the future if potential employers asked me if I had ever been fired from a previous position, I could say no. But of course she's not exactly a neutral 3rd party in this, so I'm looking for alternative opinions. How much do employers care about previous terminations? Is it really better to resign voluntarily than to be fired? *Note: I believe I'm not eligible for unemployment benefits. I was an RA for a college dorm, so I wasn't really getting paid, I just got compensated with free housing and meal plan. So I wasn't really earning a wage. And, I have to be actively looking for a job (3 work search attempts made on 3 separate days), which I won't be doing since I'm a college student with a full load of classes, and I'm not able to balance that with work off campus. One of the reasons I applied for an RA position is because I could do it while on campus, while I studied or did homework. For those curious, this is why I'm getting fired. This is in Massachusetts [link] [comments]  |
| Use hours worked rather then Item cost when making large purchases decisions Posted: 22 Dec 2018 10:18 AM PST When it comes to buying stuff I want rather then need. I started comparing the item cost to my salary when deciding if it was worth it. So for example a brand new TV would be 50 hours of work rather then $X. I find that makes it easier to decide if I should buy something new or stick with what I have. Please tell me I'm not the only one. [link] [comments]  |
| How much do you need to move out to your very 1st apartment? And other costs to be aware of? Posted: 22 Dec 2018 12:32 AM PST I'm planning to move out next year with my best friend but currently live with my aunt and pay rent of $400 for a room. And I'm looking into getting a $2k apartment with my friend. I know that 1st and last rent is due for the first month but don't really know much after that. Someone who rents an apartment can give me more info on moving out and finances on it? I make 20/hr,30/hr weekends 5 days a week. And planning to pick up a 2nd job on my 2 off days. Would like some insight on people who already been through this. Oh and we are both in our early 20s,I'm 22 he's 23. We have good credit 700. [link] [comments]  |
| Posted: 22 Dec 2018 11:28 AM PST Any and all help would be greatly appreciated. I make ok money (45K in a rural area, 0 debt to my name) but definitely not enough to tackle this easily, and even with her graduate degree, she will be making less than me. I just wanted to have a game plan going into marriage a couple years from now. Thanks. [link] [comments]  |
| My Job didnt take any federal or state taxes for most of the year. how screwed am I? Posted: 22 Dec 2018 12:28 AM PST In mid January I went from being a w2 contractor to a full time employee. I filled out my tax forms correctly(I just looked a the scanned copies) but they put me down as exempt. My Gross pay is $50,040.65, they took out $433.77 in federal and $105.43 in state. I paid $622.68 into employer paid benefits. I put down 4 for my exemptions, and I file with my wife. I know its my fault since I didn't check my pay stubs, the only reason I did is my co worker alerted me to since they made a mistake on his. How much am I going to have to pay? [link] [comments]  |
| Posted: 22 Dec 2018 09:49 AM PST My father (58) passed away unexpectedly last week. I (29) am trying to get all of his assets/liabilities in order. I have two younger sisters (both 26) that are looking to me to handle this. As my father passed away unexpectedly and had not prepared for this I have had to follow paper trails. Although sorting through it has been a pain, he thankfully never threw out any paperwork. Here's what I currently know: 401K with Principal that amounts to ~$415k BOA Checking Acct: ~$4k (Fortunately he put me on his account 2 months before he passed) CC Debt: He has approx. 4 CC's with debts totaling ~($40k) Trusts: Supposedly my grandfather set up a few trusts for my father, sisters, and I. I'm not aware of the amount nor any stipulations to these trusts. I'm trying to find that information out now. Life Insurance - None that I'm aware of, although I'm searching through the mounds of paperwork. He was not employed full time at the date of his death and the only private life insurance I'm aware he once had expired 8 years ago. I have strongly thought about reaching out to a specialized accountant for this, but any advice on how to proceed with the situation would be greatly appreciated. Thank you. [link] [comments]  |
| Should I reduce 401k contributions to increase savings for eventual home down payment? Posted: 22 Dec 2018 03:07 PM PST Currently 27 years old and have just over my annual salary's worth saved in my company's matching 401k and Roth IRA combined. From the rule of thumb articles I've seen online, it seems that the target is to have your salary's worth saved for retirement by the age of 30 which I am well ahead and will be maxing out my IRA contributions for 2019 once the new year hits. I also have no debts of any kind and 3 months of emergency funds have been saved as well. My goal has been to save for a down payment for a house which currently I have 60% of my target goal saved in my high-yielding savings account. I would like to reach my goal sooner rather than later since I'm currently projected to reach my savings goal in about 4-5 years. With all this in mind, would it be wise for me to reduce my 401k contributions from its current 20% annual contribution rate and scale down to 10% contributions so that I can save more money in my savings account that will eventually go towards the down payment? I would still be well over my company's matching at 6%. I would later review my financial situation once my savings goal has been reached to determine if I can scale my retirement contributions back up. [link] [comments]  |
| Posted: 22 Dec 2018 02:48 PM PST The person immediately maxed out the card (almost $2000) and my credit was affected. Luckily the company reversed the charge and is investigating. [link] [comments]  |
| If you have/want pets, they also need to be budgeted for. Posted: 21 Dec 2018 11:02 AM PST I have a dog. Just after Thanksgiving, he injured a nail. I wrapped it up and disinfected it, but a day later it was still bleeding so I took him to the vet. $300 later, he was better. A week later, he seemed to be having some new problems, and it turned out it was a bad reaction to some medicine. Back to the vet and another $300. Over the next two weeks he seemed to get better...until he started getting sick again. I took him to the vet again yesterday, and another $500. So in the span of less than a month, right in the middle of the Christmas shopping season, I've unexpectedly spent over $1000 on my dog's health. And that was a discounted price because I have a health plan for my dog at that vet. If recent reports are to be believed, the majority if Americans couldn't handle an unexpected $400 bill, and my dog has suddenly cost me more than that. If you have a pet or are planning on getting one, be sure to account for costs that may be unexpected. [link] [comments]  |
| I am 13 and want to grow my money. What would you do? Posted: 22 Dec 2018 05:14 PM PST As said in the title, I am a 13 year old boy living in California. I have 0 expenses since I am fortunate enough to live in an upper middle class family. I also do not spend anything, since my parents want to teach me to save/ grow healthy financial habits. I have ~$1000 in a Ally Bank savings account and ~$1000 in a no interest checking account that I can physically deposit gift money into. I was reading up on UGMA/UTMA Accounts and my parents agreed that I could open one, as long as I knew what I will be getting myself into. I know that each year now will lead to greater gains in the future through compound interest and that it is good to have as much time as possible to grow your money. I would also like to make purchases in stock/mutual funds hearing that the market is falling. With that being said, what would you do if you were in my shoes? [link] [comments]  |
| With the markets down, should I max out my IRA January 1st? Posted: 22 Dec 2018 07:40 AM PST I typically dollar cost average, but am tempted to put in a lump sum this year. Thoughts? [link] [comments]  |
| Posted: 22 Dec 2018 10:30 AM PST My parents are in their late 50s (mother) and mid 70s (father). They are married and own their house, which I believe is paid off. He has always been the primary earner. She exited the labor force in her twenties and spent decades as a homemaker / raising children, but has been working part-time over the last ten years or so. My father refuses to discuss household finances with anyone, including his wife, but there is good reason to believe that he is deep in increasing amounts of high interest debt with no savings. I also doubt he has an active life insurance policy. And there really is 0% chance of sitting down and having a productive discussion with him about this. Given their age difference, it is very likely that she will outlive him by a couple of decades. I am trying to figure out how to help my mother be prepared for a worst-case scenario when he passes. It's entirely possible she will be stuck with high interest debts that exceed the value of their modest home, and with no other assets, will have to declare bankruptcy. My one idea is to urge her to start socking away as much as she can each year in an IRA (probably Roth just so it doesn't need to be discussed when they jointly file their taxes). This year is tight for me, but I may be in a position to gift her a few thousand dollars per year for this in upcoming years. Is this the best option? Any other advice I could give my mother to help keep her from becoming destitute when my father passes and leaves her with an insurmountable pile of debt? [link] [comments]  |
| Lost most financial value in 1 year. Posted: 22 Dec 2018 07:57 AM PST Hi all. Roough year. Divorced cheating ex. After spending 70k on her education she took 30 k in value in the divorce. I had my life savings in a savings and invested and made a series of wrong moves which wiped out 70% of my portfolio over the year (48k lost) . It's like the stars aligned to screw me over. Now I am back to where I was a decade ago. A decade of hard work, living as cheap as possible, saving every dime, and its all gone. I am having some serious anxiety and its like suffering through the divorce all over again. I at least have my boy a third of the time. I have a good job. I met a nice woman who is looking past my dysfunctional upbringing and loves my boy. I feel though my obsession with finances and wanting to be very financially set, has led me to a depression after losing a decade of working my ass off. Tldr Lost all in divorce and high risk ETFs /stocks. Depressed. How to move on? Anyone have similar circumstances and how'd you start all over? [link] [comments]  |
| Obligatory Emergency Fund Saved the Day Post Posted: 22 Dec 2018 06:54 AM PST I'm actually way more grateful and less sarcastic about it than the title makes it seem but! I got into a wreck earlier this month and needed about $1000 worth of body work not covered by insurance because it was my fault (driving in the snow). Fortunately, I made a car emergency fund earlier this year after reading posts on this subreddit, and it had just been sitting accruing interest until this moment. It really hurt to see the money go, but it hurt a lot less than having to scramble and ask for money from family or even worse: finance the repairs. Immensely grateful to have left the accident totally unscathed and in a place to move forward with fixing the vehicle. Now to determine a savings plan to refund the account and ideally never have to use it again! But at least I know it'll be there. [link] [comments]  |
| Posted: 22 Dec 2018 07:48 PM PST So... I will be going to college next year and realized that as an 18 year old I don't even have access to my own bank account, just a debit card. I was original under my parents account as a child dependent but when I turned 18 it turned into a separate account they can see and add money to but can't technically "access." Since we are currently overseas, Korea if that helps, I have been having a hell of a time getting an online ID. The online ID is the key to being able to look at my finances and fixing my debit card which is linked to our previous address still (which is why I can only purchase stuff online and it only works half the time). I start the process of getting an online ID by using my SSN because we, my family and I, have no idea what my USAA number is. It locks me out saying "We are unable to complete your registration online. To continue, please call Website Technical Support at 1-877-632-3003." after putting my SSN. At this point I switched tactics to avoid international fees. Together with my parents we used their account to talk to a representative through USAA's international number. Talking to them, they say they just need to ask some security verification questions to verify I am indeed who I say I am and then I should be in the clear. The rub is they have NO information on me to begin with so they don't have any security questions they can ask! I was instructed to use USAA.com/verify to send them my pictures of my passport (I don't have a state issued ID or drivers license because moving overseas messed it all up YEAH!!!). The dude on the phone earlier said they would call back in one business day with the phone number I provide and therefore I would be verified. For the past three days, I have been trying to submit my pic's to USAA.com/verify and each time it says servers unavailable when I submit. I have not seen any questions about this anywhere else so I kind of feel trapped. The point of this post is to see if anyone else has experienced this before and if anyone has any suggestions on where to go from here. To clarify, we never did get through to Website Technical Support through their number and it is international the only progress I made was through using my Parents account on their international number. [link] [comments]  |
| Posted: 22 Dec 2018 08:37 AM PST My wife and I are thinking about hiring a nanny. I know we need to pay federal income, social security and Medicare. Does the employer and employee usually split those taxes?? What about workman's comp? Would we need to get additional insurance in case she gets injured while at our house while working? Thanks in advance. Location: Tennessee [link] [comments]  |
| Posted: 22 Dec 2018 07:03 PM PST So long story short I was in a car accident a while back, and now I'm set to to receive more money than I know what to do with. Considering my relatively low income and high debt this will be nothing short of a financial miracle, however I want to make sure to use it at efficiently as possible. For some background, I'm a 26 year old graduate student working on my doctorate in the biomedical sciences. As part of this my tuition fees are waived and I'm paid 25k a year. I'm currently funded by a federal fellowship so this is exempt from FICA taxes, but I believe this prevents me from contributing to an IRA or 401k through my work. I'll need to speak with an accountant in regards to taxes, but a rough estimate would give me about 75k to work with. Debt: Student loans: 45k. Approximately half are subsidized and are 0% interest until I graduate in ~2 years, the other half have varied interest rates around 5%. Credit cards. ~$4000 out of $14,000 available credit. Interest rates 18-20% Savings: 4k in the bank $1500 in retirement account from my old job. I think its though TIAA Mandatory Bills: Rent/utilities: $450/month Credit cards: ~200 in minimum payments, but I've been paying more to reduces my balances from prior medical bills Miscellaneous: $200 My first thought was to pay off my 49k in debt, put aside 10k in a high interest savings account for a used car once my current car eventually dies (it has high milage and is nearing 20 years old), put ~14k into a mix of retirement, savings and/or investments, and then use the last 1-2k on a vacation for a bit of celebratory fun. I currently have a pretty low cost of living and good job security so my current 4k in savings would cover most emergencies. Other considerations: -Tax benefits for paying student loans are capped, so I may benefit from delaying some payments (especially since some are at 0% interest right now). -My salary is basically guaranteed to increase from 25k to 50k in 2 years during the next step in my training, and has very good potential beyond that once I start my actual career. This makes me want to be irresponsible and use more for fun and travel while I'm in my 20's, but I know I probably shouldn't. Any ideas or suggestions would be greatly appreciated! [link] [comments]  |
| Best investing style for someone in 20s Posted: 22 Dec 2018 01:52 PM PST I have been investing in individual large cap stocks for the last few years while in college, but I feel like I way underperform the market and that I'm making mistakes that lose me money. I have no debt and minimum expenses. This allows me to save roughly $40k+ a year, but I have been leaving most of it in cash because I have no idea what to do with it. I don't mind risk but I don't want to take on unnecessary risks due to a lack of expertise. Was hoping to get some advice on how to better allocate my money. ETFs, REIT(fundrise), Robo advising... [link] [comments]  |
| Dental office sent debt to collection agency Posted: 22 Dec 2018 06:34 PM PST Almost a year ago, my gf had her wisdom tooth removed. She had a co-pay of around $500. Forward to around mid 2018, dental office sent her a bill of $900. They said insurance didn't pay for it. We called the insurance, they told us that they will pay only if the office send the papers they were asking. We told the office about this and we kind of forgot about it. Then today, she received a mail from a collections agency about the debt. Can we do anything about this thing? [link] [comments]  |
| Rent a blank room or an apartment ? Posted: 22 Dec 2018 06:31 PM PST Hello, i will come back to my country next month but i have a problem in finding a room to stay. Before going abroad, i'm still living with my parents in the small room though. The price of renting a blank room which does not have anything (has only a toilet room, don't have any equipment) is about $100-150 per month. The price of renting an apartment (which has a bed, refrigerator, hot cold shower machine, washing machine) is $200-300 per month. I'm thinking of adapting to a more minimalist life style, i mean living with minimum cost, keep the most important things and throw away all unnecessary things. Assumed my salary is about 500$, and my bags has a few clothes, a laptop and some minor things like books and pens. I'm still confuse about which room is better for long time use. Because i will go on many business trips in the future too if possible. [link] [comments]  |
| In need of a new car, what can I afford? Posted: 22 Dec 2018 03:42 PM PST Its come to the point where I'm putting so much money into my 2008 BMW 335xi that I need to get rid of it. It currently has a misfire which I'm quite sure the symptoms are pointing towards injectors. A new set is about $1300, I put $1800 in it earlier this year for a used transmission. It needs rear brake pads and front shocks but I will have to take care of at least the front suspension because it is just bottoming out when I hit a tiny pothole(this is very recently an issue, injectors have been showing signs since summer but they're also getting worse). In short, I cannot afford the upkeep for this car. It's been a nightmare since I've had it, and it needs to go. I need a vehicle that has great liability and won't need major repairs. I'm interested in models such as the Toyota Corolla/Camry, Honda Accord, Nissan Sentra, Mazda 3, Subaru Impreza. I'm looking for a year and package that allows for some tech. Preferably aux and a back up camera. Heated seats would be a bonus. I'm really interested in the 2014+ Toyota Corolla. I love the tech it offers and the reliability of a Toyota need not be questioned it seems. My situation: Currently work full time 40/wk and bring home just shy of 450 weekly after tax. I have 7500 in savings including emergency fund. My bills: Gas: $200/month Insurance: $114/month Food: $225/month Phone: $30/month Leisure: $75/month Netflix: $10/"" Gym: $11/"" Spotify: $11/"" Prime: $7/"" Total: $683 I could probably cut back $25-50 on food, $50 on gas if I get one of the vehicles I'm looking at. I'm moving out of my parents house come June however, not looking to spend much on rent but the market isn't very cheap where I will be relocating to (West Philadelphia) so let's assume it could be 650 split no utilities. I would need to find a job as well, and could be potentially making less than I do currently (would do my best to increase income). So i need a good cushion, but June is months away and I expect to save another 2-3k potentially. My current vehicle appraised at nearly $5000 at a BMW dealership, this was a trade in value that I had negotiated. (They had a used Subaru WRX I decided I could not afford.) Car is also for sale on craigslist at $6500. Value of these cars via private seller has plummeted in the last 6 months. I would take $5750 or even $5500 after repairing the suspension and brakes at this point. I have no credit. 0. I applied for a discover it and got denied last week. Moving to secured application soon. My father mentioned he would be willing to cosign for me if need be. I was thinking I could afford something up to $10500 with a $1500 down payment and my $4500-5000 trade in. My insurance would likely be close to $200 for full coverage however, I'm in my early 20s. I could also go private seller but I dont want to spend a lot of my savings as I will be moving out in June, with my SO who will be splitting rent, I will most likely have to cover security deposit as she is just getting out of school but has a job lined up ($40000/ first year expected to be $70000 3rd year). I need to know what is my best option here, being that I have no credit. I don't think private seller is a terrible option but my car has been for sale for 6 months and no one has even come to see it. I'm worried more major repairs will be necessary soon and it's a big weight in my financial situation currently, which is stressing me out a ton. I'm in need of good reliable transportation for years to come. Let me know what you think is my best option or what price range I would most comfortably afford. Any advice is appreciated. [link] [comments]  |
| Checking Account Hacked Twice in last 3 days Posted: 22 Dec 2018 11:46 AM PST Hey everyone, My parents were hacked in March of 2017 and moved funds to a new account and everything was going fine until this week. On Monday they had their checking account hacked again and the bank did the same process of closing the old account and moving funds to a new account. This morning I got a call from them saying they were hacked again (in the newest account). Each time a fraudulent transfer payment has been authorized to an unknown account. The bank suggested that they may be having a computer issue and are being hacked that way? The password has changed every time. Has this happened to anyone here? How did you resolve it? There haven't been any new accounts created on their behalf. My initial thinking was to do a complete factory reset of their Macs, setup a password manager (unique password for every site) and 2 factor authentication across every account that offers it. Also change all usernames and passwords? At that point, migrate to a new bank entire? Open to any suggestions here. Thanks in advance for any help you can provide. [link] [comments]  |
| Posted: 22 Dec 2018 01:23 PM PST I had lost my job in June and let my 401k just sit hoping my next employer would offer me a 401k plan. However they don't and now my account has been losing value since the stock markets have been dipping. I am not contributing anything to it (since I don't work there anymore) and I am afraid my account will disappear. 11k down to 9k now in just 2-3 months...Any advice? [link] [comments]  |
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