Personal Finance I've been told I'm losing my job in 30 days. Besides losing my salary, I've been counting on tuition reimbursement for grad school. What should I do? |
- I've been told I'm losing my job in 30 days. Besides losing my salary, I've been counting on tuition reimbursement for grad school. What should I do?
- Does it make financial sense to get an Associate's Degree at my age (F/38)?
- Reflection on opportunity costs of graduate school, from a physician.
- 24yo- first job, budgeting help?
- 401k Rollover Mistake Advice
- 1K a month for 6 people. What can I do?
- What is the benefit of refinancing a mortgage every 5 years?
- Does it matter which spouse we get health insurance from?
- Where can I find Grants & Scholarships to pay for college away from home?
- My dads slim retirement
- 17 y/o needing help with what to do regarding my bank & old job?
- Freshman in college, parents cut me off. Help!
- Thoughts on having a Financial Advisor?
- Hated first day of seasonal job, will quitting hurt my chances of employment in the future?
- What do you guys think of Dave Ramsey
- Traditional 401k to Roth IRA Rollover - My Personal Experience
- IRS announces interest rates will increase for the first quarter of 2019
- My father keeps most of the money from taxes
- 33single dad looking to own a home and have a comfortable life for me and my son
- So I am filling out my Form 1040X to amend my tax return, and I have a quick question that should be easy to answer.
- Part Time Job Termination
- Graduated college student finally getting a job. Need debt advice.
| Posted: 08 Dec 2018 01:15 PM PST I was pulled aside by my boss yesterday and I was told that I had 30 days to find a new job, either internally or externally. My position is being eliminated, so it has nothing to do with my performance. I've been in shock since then and afraid of what will happen over the next 30 days, as well as what I should do in case I don't get a job by then. As the title says, I've also been counting on tuition reimbursement to pay for at least part of grad school, so if I continue school, this will be a major blow to my finances; even if I get a new job at the same salary (which seems unlikely for various reasons - according to Glassdoor, I'm actually overpaid in my position), I probably won't get the same tuition reimbursement benefit, so it's effectively a huge pay cut. I was fortunate enough to sell a condo earlier in the year, leaving me with a sizeable emergency fund - I could live at my current standard of living, minus fun money, for a year off of savings if I had to, but I'd really rather not drain my savings like that, especially because the money was also my backup grad school fund. My apartment is my biggest expense by far and I'd be willing to downsize if the lease breaking fee wasn't so big (~$3000). I can post my budget if it would be helpful. I use YNAB religiously. I also have pre-existing medical conditions that require medication daily, and I'm afraid of losing my insurance. I'm based in Michigan if that makes any difference. I already looked up unemployment payments and it's abysmal. What are the best things for me to do over the next 30 days, and if the worst case happens, 31+ days from now? [link] [comments]  |
| Does it make financial sense to get an Associate's Degree at my age (F/38)? Posted: 08 Dec 2018 07:16 AM PST Hi r/personalfinance, I'm posting this from my throwaway account because some friends know my main one. At the age of 18 I graduated from a 3-year program to become a bilingual secretary (I'm fluent in English and Spanish) in my home country in Latin America. I moved to the US 15 years ago and I've been a nanny ever since. As much as I have loved working with kids, I don't want to keep doing this kind of work much longer. I want to have a job that can give me benefits (health insurance, matching contribution to 401K, etc), which is something that most parents don't offer when they hire a nanny. Am I too old to go to school to get an Associate's Degree from a community college? Would this be worth it in my case? I live in Boston and currently earn $25/hr (before taxes) and I'd love to find a career/position where I can earn at least the same amount of money but in a hospital or office setting, preferably also applying my skills as a secretary. I'm also open on going into a trade. I need some perspective and a lot of advice. Thank you. EDIT: You all are amazing! Thank you for your advice, I have read every single one of your comments and will continue to do so in the next few days. I understand that my question about getting the Associate's Degree being worth it was too broad. The thing is: I have no fucking clue as to what kind of careers are out there. None. Someone I know suggested I go back to school and take some classes and "go from there", hence my question on this post. I will do the following now: Talk to as many people as I can about their experiences working in office settings and hospitals. Talk to recruiters, see what kind of career better suits me and then start looking into the necessary schooling and certifications needed for that kind of position. I have hope for the future now. Thank you. [link] [comments]  |
| Reflection on opportunity costs of graduate school, from a physician. Posted: 08 Dec 2018 11:25 AM PST Hey PF, have lurked on this sub for a while. I'm a practicing physician. When I went to medical school, I spent a lot of time thinking about the opportunity cost of medical school. Maybe ruminated on it too much, possibly. Recently, I have returned to this as I start thinking about saving for retirement. I figured I would share some of my thoughts, for anyone that is thinking about possibly going to graduate school. At the time, thinking about this stuff made me incredibly pessimistic about going to medical school, but fortunately, I now love what I do, and there are more important things that money at the end of the day. To start, I decided to model retirement savings as a continuous function. This would be ignoring the volatility of investing, but greatly simplifies the model, and I wanted to keep it simple. If you assume that the rate of savings over time is equal to income plus savings * interest, then ... dS/dt = income + savings x interest x t Solving this differential equation gives the following. S[t] = (Exp[interestt]-1)(income/interest) Now that we have an expression for compounded savings, we can solve for savings as a function of time, for a given interest rate, with a given rate of contributions. For example, at the prevailing rate of return of the S&P 500 over the past 30 years has been approximately 8.5% annually. For example, investing 10000 USD / year over 15 years should yield approximately 300000 USD at the end of that period. So with this we can calculate the opportunity cost of attending graduate school, by considering two scenarios. In one, the ORIGINAL scenario, you start working out of college (we'll assume debt free) and start saving at some rate. Because you are not going into debt, you immediately start accruing savings. The ALTERNATIVE scenario, you decide to go to medical school (or some other expensive graduate school), requiring you to not just forgo income, but also possibly to incur debt for tuition. In this scenario, your net worth becomes initially negative, and you only achieve zero net some time after graduating from school. To keep the model simple, I didn't bother to take into account the specifics of debt accrual or repayment. Again, too complicated. Rather, I decided to use the delay between starting saving between the two scenarios as an input to the model. For the ORIGINAL scenario, you would start saving right after college. For the ALTERNATIVE scenario, you would start effectively saving for retirement when the last of your loans were paid off. So a reasonable assumption would be a delay of 10 years - 4 years for medical school, 4 years of residency (presumably just paying small amounts on the loans), and then 2 years of being an attending, when the bulk of the loans would be paid. Since we have a function that approximates savings as a function of time, we can solve for WHEN the savings of the alternative scenario, catches up with the ORIGINAL scenario. So if we express the above function as Savings[time,interest,income] ... Then we can consider an example scenario. Savings[10+t,0.085,10000]==Savings[t,0.085,30000] Solving for t numerically yields approximately 13 years. To summarize, this considers how long after reaching zero net worth, it would take for a medical school graduate to catch up to someone saving right out of college, assuming the physician started saving 3x as much after paying off the last of your loans. The term 10, is the delay between starting medical school (when the original scenario would start saving), and completing paying off loans (when the alternative scenario would start saving). As you can see, even by saving at a rate three times faster, it still takes almost 13 years to catch up. To contextualize this, assuming you start medical school at 21 (right after college), you wouldn't break even until age 44 years, 23 years later! The above specific scenario involves several fairly aggressive assumptions. First of all, this assumes that after 4 years of medical school, and 4 years of residency, you are managing to pay off all of your loans (however large) in only a further 2 years of being an attending physician. Not necessarily impossible, but possibly difficult depending on how much debt is incurred. Intuitively, the longer that the higher income of the alternative scenario is differed, the larger the opportunity cost. Plugging in another set of values confirms this. For example, if it took you 4 years of being an attending to fully pay off your loans (i.e. achieve zero net worth), then, assuming you're still saving 3x as much. Savings[12+t,0.085,10000]==Savings[t,0.085,30000] Where 12 represents 12 years consisting of 8 years of medical school and residency, and 4 years of being an attending. Solving for t gives 25.6 years, which again assuming you go to medical school right out of college, would mean that you would catch up with the ORIGINAL scenario at age 58 years, approximately 37 years after starting medical school! And again, this is assuming that you go immediately to medical school without any delays, and it's still assuming a somewhat aggressive strategy for paying off loans. Alternatively, we can assume that we want to catch up after a certain delay, and solve for the multiple of income required to break even. For example, let's say we plan on paying off loans 3 years after finishing residency, so a lag time of 11 years (4+4+3 years). If we were going to save 10k per year in the original scenario, and we want to catch up 20 years after achieving net worth, how much would we need to save in the ALTERNATIVE scenario, to catch up at age 52 (assuming we started medical school at age 21). Savings[20+11,0.085,10000]=Savings[20,0.085,x] Numerically solving for x gives us a value 28.9 k USD / year. So, in other words, to break even by age 52, you would need to save almost three times as much as the original scenario. Rather than numerically solving, it's also possible to solve for a symbolic expression that describes the multiple savings rate required, as a function of the delay to reaching zero net worth (the lag), prevailing interest rate, and the time from reaching zero net worth to catching up to the ORIGINAL scenario (the term). I called the multiple required to catch up, alpha. alpha = (Exp((Lag + Term) x interest)-1)/(Exp(Interest x term)-1) Solving for the same values as the previous example shows consistent a consistent result. alpha = 2.89 Notice that alpha grows exponentially the longer one takes to fully pay off loans. It's worth considering the numbers if there is a large lag time until loans are paid off. For example, I heard of an attending where I did my residency who didn't pay off his loans until his 40s. Assuming he went to medical school in his mid 20s, and paid off his loans in his early 40s. Lets assume he wants to be done working by age 70. Lag time = 42-25 = 17 years Term = 70-42 = 28 years Interest = 0.085 With these values, alpha is 4.6. Thus, he would need to save this multiple to catch up by age 70! Realistically, he may end up just saving at a lower multiple, and therefore never catching up with what he would have made if he had just started working out of college. There are obviously several drawbacks to this model. The greatest of these is that it assumes continuous uninterrupted gains from investing. Obviously not true, especially recently. However, over the long run the stock market is a biased random process, so on average, this should be reasonably OK approximation for this model. I guess the reason I felt like sharing this, was that I had only considered this after enrolling in medical school. It felt like that was too late to have considered this stuff. I was already committed at that point, mentally and financially. Honestly, when I finally considered this, it scared me. I felt like I was drowning in six-figure debt for over a decade. Even if you think about it, and you have a plan, it's scary to be that far in debt. And one of the things my model didn't cover was the fact that you might not like what do do as a physician when your done. Fortunately, I love what I do, but several of my classmates either dropped out, or switched into different fields after finishing medical school. They'll probably never recover from such a huge loss. I'm sure they'll make ends meet, but they'll most likely never catch up to where they would have been if they had just gotten a job out of college. Anyways, if any of you are considering going to graduate school, I'd just suggest being extremely dispassionate about the costs, particularly the opportunity costs, both in time and money. The cost of tuition is only part of the picture. The other thing is, people everywhere assume that doctors make tons of money. While in general we're well paid, remember that that lag between making that salary can be significant. A physician making 200k per year, with an alpha of 3, is almost like someone making 66k per year, after considering the opportunity cost. Just my two cents. [link] [comments]  |
| 24yo- first job, budgeting help? Posted: 08 Dec 2018 10:45 AM PST I just got my first job out of college. And trying to figure out how exactly to split up my paycheck. DEBTS: ACCOUNTS The job is contract to hire. So initially I'll be making $43/hr ($86k annualized) and between 90 days and 2 years I'll be hired and switch to salary (somewhere between $65-80k) My goals right now are: Because I'm starting as a contractor, the consulting company does offer a 401k:
So my question is: is there worth in even contributing to this 401k in the contract to hire period if I likely wont get a match with them? (I know the people I'll be working with and they're likely to hire me full time) My second question: once I'm a full time employee, how much should I be putting towards the 401k? Or should I just ignore my 401k for saving for a house? So for example, during a month during the contract to hire period: That leaves $1000 left in the budget. Should i put all of it towards my down payment, or put some of it into my 401k? I'm just having a lot of anxiety about my first job and it's manifesting in the form of freaking out about my finances. Thanks for your help ♥️ [link] [comments]  |
| Posted: 08 Dec 2018 11:07 AM PST I have monitored this group for some time and have gotten a ton of good information from it. I was hoping someone might have some insight on a situation that I now find myself in. It seems my wife (married 2018) didn't correctly rollover a 401k in 2016 and the IRS is now stating we owe them money and a penalty. She cashed out a ~55k 401k and immediately deposited the resulting ~44k in a Roth IRA in 2016. The IRS now says that we owe ~17.6k and a 1.4k penalty on this. Is there any way to make this right? If we do have to pay the penalty, can we withdraw money from the Roth IRA without incurring penalty on that withdrawal? [link] [comments]  |
| 1K a month for 6 people. What can I do? Posted: 08 Dec 2018 08:51 AM PST I'm 14 years old (male) and I have a twin brother and two little brothers who are also twins (both male). I live with my dad (43) and my grandparents (both mid-70s). My grandpa is our main source of income and he left us with nothing. Out of spite. I don't want to get into the details. My grandma gets around 1K a month. We have just this to live off of. Bills & food. We know our needs but we can't meet any of them. We might get the house taken away and I just wish there was a way I could help. I and my twin are looking to help. We are almost 15 and in a year we will be 16 and can get jobs. What can a 14-year-old do to get money? What other things can our family do? (please don't be confused about me saying I'm 14 on this post and 15 on others. I just wanted people to take me seriously when I asked serious questions) (I know that's stupid and I'm really sorry) [link] [comments]  |
| What is the benefit of refinancing a mortgage every 5 years? Posted: 08 Dec 2018 07:06 PM PST My parents have friends who have refinanced every 5 years and intend to continue to do it forever. "I never want to pay off a mortgage", they say. They are even encouraging their adult kids to do the same. I haven't inquired as to what their thought process is exactly but I think they just like having lower monthly payments. However, I just can't see the benefit of this as I thought mortgages are front loaded with interest and therefore you will actually be spending much more over time and when you sell you'll owe more. On the flip side I see the obvious benefits of making extra payments on principle because it significantly reduces overall costs. What am I missing? [link] [comments]  |
| Does it matter which spouse we get health insurance from? Posted: 08 Dec 2018 10:46 AM PST I got married this year and my wife and I are trying to figure out open season for next year. We are both federal employees so our health plans cost the same and are the same options regardless of which of us signs up for insurance. My salary is over the social security cap so that social security taxes are not deducted from my paycheck at the end of the year. My wife is under that cap and pays social security taxes all year. If we get insurance through my wife rather than me, does that effectively save us 6.2% of the premium? My thinking is that since the money comes out pre-tax, reducing my salary exposes more of our income to FICA taxes whereas reducing hers should have no effect. It should come out in a wash income tax wise since we file jointly. If that's true, does the same apply to FSA deductions and the like? Is it better to put $1,000 in her FSA instead of $500 for both. Thanks for the help! [link] [comments]  |
| Where can I find Grants & Scholarships to pay for college away from home? Posted: 08 Dec 2018 07:07 PM PST I want to keep this story short... Regarding what I want to do, a lot of things have happened in my life and are happening now that give me reasons to want to leave to college as soon as possible... College is an amazing excuse, but my mother is forcing me to stay. I don't think I'll be well if I wait much longer, I just want my degree... In order to go, I need a strong base, which is a place to go, a plan, and money. I have some saved, but it is not enough to cover my whole degree. I'm a US citizen living abroad and want to go study in Florida, a Biomedical Engineering career. I'll be graduating high school in December 2019. The university I want to go is public so it doesn't offer much that would benefit me, and I'd like to leave in Jan 2020. I have outstanding grades, top of the class student, piano player, president of the class. All I get attention for is my wrongs in my house. I'm punished harshly for little things and am not able to spend time with friends and do things I like to do for my future. It's exhausting and makes me very sad. I keep relationships over the phone. It ain't very easy alone... I just wanted to ask if anybody here knows where can I apply to lots of scholarships so I can save money to go study away from home, and how can I prepare myself to leave. Please help. I don't know where else to ask for help. Thank you very much to reading this far, I'd appreciate so much the advice and help. [link] [comments]  |
| Posted: 08 Dec 2018 02:16 PM PST My father is 59 and has worked the same job for 40 years . Needless to say he wants to retire at 65 . Unfortunately after all the years of contributing to his 401k he only has 100k in it . A direct result of taking out loans on it and bad financial decisions. He makes about 50k a year and was awarded a small pension of 400 a month . My question is . Does he have any chance of being somewhat comfortable if he was to max his 401k for the next 6 years or will he have to work his whole life ? [link] [comments]  |
| 17 y/o needing help with what to do regarding my bank & old job? Posted: 08 Dec 2018 10:03 AM PST I got my first part-time job back in October 26th of this year at Taco Bell(TB). I started working that Friday, one of my managers gave me the option to pick getting a check or getting the debit card that they give to their employees. I picked the check. She left for vacation after that day for about two weeks and no one else who worked there had any information regarding when I should get paid INCLUDING the other managers (who flat out just said "I have no clue" when I asked). I predicted when I was ideally supposed to get paid and asked a different manager what time I was getting my check. She told me that the store doesn't give out checks because it was too much work and that I needed to activate the card they gave me or else the money they were automatically depositing into my then not existing account would get sent back to the company and I would have to go through this long process of getting it back. So I activated the card (which was Bank of America) and everything was fine. I quit TB about a month later on Nov. 17th due to how unprofessional and badly managed the store was. After reading this sub, I realized how shit of a bank BoA is and I want to close my account. However, even after quitting, I'm getting paid every two weeks but only getting 1 weeks worth of money. I still have one more check coming through in two weeks for the last few days i worked there but I'm receiving it literally hours (10 pm) before my flight departs (I'm going on vacation to a different country for about three weeks) so I won't be able to close it down until I get back. Until then I'm afraid of being charged a fee for not actively depositing money, especially since my money deposits are so small. What should I do? Like i said, this is my first job and I get little to no help from friends and family. I have no idea if this is totally normal or not and I'm stuck without information until Monday when customer service for TB is open. I'm sorry if this is formatted incorrectly or I missed any information. I'm from Illinois if that's important. EDIT: grammar :( [link] [comments]  |
| Freshman in college, parents cut me off. Help! Posted: 08 Dec 2018 08:19 PM PST Freshman at a 4 year university, my tuition costs ~$25,000 a year. I have 3 grand in savings, and 1 grand in mutual funds. Don't know if I should get a loan and finish college or get a full time job and take classes part time. Any advice is appreciated. [link] [comments]  |
| Thoughts on having a Financial Advisor? Posted: 08 Dec 2018 07:37 PM PST |
| Hated first day of seasonal job, will quitting hurt my chances of employment in the future? Posted: 08 Dec 2018 07:10 PM PST Hey I don't think this breaks rule number nine, but if it does let me know. I just started a seasonal position and everything is a mess. They gave me little to no info, the place I moved to is away from home/girlfriend, the town and living situation is worse than discussed. I already hate it and I'm fine to give the job a chance, but here's my question: If I quit a seasonal job outside of my career field will this hurt my chances for "real jobs" in the future? Do I have to list them on my resume? As in if I got hired somewhere else and so just quit this position will it affect me? I am aware I made the decision and that it was a poor one, but I'm looking for the best option that allows me to protect my future employment and get away from this current situation. Edit Thanks for all the replies guys. I have to look at the time and money I've invest and see if it's worth it for me to quit or not, but at least I feel confident it won't hurt my chances at my next job [link] [comments]  |
| What do you guys think of Dave Ramsey Posted: 08 Dec 2018 07:41 AM PST I started watching his videos on YouTube and he seems to have some good advice, but I'm not sure if I agree with everything he subscribes to. For example, I think his baby step philosophy would say that I should completely pay down my mortgage before investing in stocks. What do you guys think of him and his baby steps? [link] [comments]  |
| Traditional 401k to Roth IRA Rollover - My Personal Experience Posted: 08 Dec 2018 03:26 PM PST I often see the topic of what to do with an old employer's Traditional 401k plan and people often recommend rolling it over into a Traditional IRA. But I found that many people are unaware that you are also able to roll it over directly from a Traditional 401k to a Roth IRA. So I wanted to share my personal experience on rolling over my old company's Traditional 401k (pre-tax account) into my Roth IRA (post-tax account). I originally had my 401k at Voya Financial and wanted to move it over to my existing Roth IRA at Vanguard. Vanguard had a step-by-step process on their website that was easy to follow. I just needed to fill out a Rollover Form provided by Vanguard and contact Voya Financial to send them the Rollover Form and tell them I was doing a trustee-to-trustee transfer and closing my account with them. I was lucky that the phone representative was easy to work with and did not give me a hard time or any trouble closing my account. There are generally two ways to move money from one 401k to another or to a Roth IRA. Either the money moves via a direct transfer (trustee-to-trustee transfer) or an indirect transfer (the money is sent to you and you move the money to the new account). I highly recommend doing the direct transfer if you have the money to pay the taxes during tax season. This is because if you do an indirect transfer, the institution will automatically withhold 20% for taxes. Therefore by doing a direct transfer, you are transferring the full amount rather than the 80% you would transfer from an indirect transfer. Also by doing a direct transfer, the money moves directly from the 401k to an IRA, without you touching it and avoids the 60 day time limit you have to send it to the Roth IRA institution. After doing the transfer, I decided to hire a CPA to do my taxes for that year since I did not want to mess up reporting the retirement transfer. Voya Financial provided me with a 1099-R Form that was needed to file my taxes. And since I was moving the money from a pre-tax account to a post-tax account, I was aware I would be taxed at whatever my income bracket was for the year. Ideally, you would want to do the rollover on a year that you would be making minimal income to minimize the tax hit. Ironically enough, the accountant actually told me I did not owe any taxes at the time. I was skeptical since I knew I would pay taxes. So just in case, I kept the money in a high yield savings account. And sure enough, two years later I got a letter from the IRS telling me I owed taxes with a 4% interest penalty fee. I hope this will clear some of the mystery on doing to Traditional 401k to Roth IRA rollover. TL;DR
[link] [comments]  |
| IRS announces interest rates will increase for the first quarter of 2019 Posted: 08 Dec 2018 11:37 AM PST The Internal Revenue Service announced that interest rates will increase for the calendar quarter beginning Jan. 1, 2019. The rates will be:
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For Taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points. [link] [comments]  |
| My father keeps most of the money from taxes Posted: 08 Dec 2018 07:51 PM PST I'm not familiar with doing taxes and all that. This may just be a family issue but I want to take initiative and solve this problem once and for all. Basically, my father does a higher paying job than my mother. His only responsibility in regards to paying bills and etc is dealing with the house loan and my sisters school fees. He has made my mother pay for all the bills such as gas, electricity, water etc. During tax time, my father decides to keep most of the money while only a small amount goes to my mother. I hate this. I want to stop this. My father prefers not to "spend too much" on the family at all while my mother buys us food, clothes and everything in between. I want to do something about it. I'd like to remain anonymous in dealing with this issue as to avoid tearing my own family apart so I'm hoping a firm would be able to help. I have no clue as to where to start but I'd really like some help in this matter. I live in Australia by the way. I'd really appreciate if someone or people would lead me in some helpful directions, even giving a plan in how to deal with this. Thank you for reading. [link] [comments]  |
| 33single dad looking to own a home and have a comfortable life for me and my son Posted: 08 Dec 2018 10:35 AM PST Monthly expenses 600 rent 470 sons tuition 160 phones 200 student loan (10k left) 324 child support 500 medications 7 credit cards, all paid in full currently, total spending power on them about 6k I am being matched for my 6% to my 401k by my job. Bringing home 3400 after taxes. Putting $100 a month away for my son, in a standard savings account, about 30k in there to date. I have an Ally savings account with basically a $0 balance, and an acorns account set on aggressive with $250 Where should I go from here? [link] [comments]  |
| Posted: 08 Dec 2018 07:19 PM PST So basically my two mistakes were when I was doing my taxes online through a website called FreeTaxUSA or something like that, I made some typos when I was inputting the data for my W-2's. So under Federal Income Tax Withheld for one W-2, I input 288 instead of 28, and for the other I entered 1148 instead of 148 which resulted in me being overpayed for my refund. Now, I know that this kind of mistake I would correct on Line 12 of Form 1040X. However, there is only one row of boxes to correct the data. What should I do? I looked at the instructions and I am still uncertain. The only thing I could imagine is that I try to fit them in on that one row and then explain on Part 3 on Page 2...? What do you guys think? [link] [comments]  |
| Posted: 08 Dec 2018 03:26 PM PST Hello, I work a part time job in southern Ontario and I had to call in today. I had thought my school exam was earlier in the day, but I got the time wrong, alas I had to call in, I let them know 4 hours in advance of my shift, and I just listened to my voicemails where one says if I don't come in they'll have to let me go. This is the first time I've called in and I'm past my 3 month probation, what are my options? [link] [comments]  |
| Graduated college student finally getting a job. Need debt advice. Posted: 08 Dec 2018 08:35 AM PST I currently work in a warehouse, making roughly $36k gross after overtime and bonuses. I start this new career making $50k January 2nd, 2019. I'm stoked! However, I have a couple questions. I'm currently $7.2k in credit card debt, with interest rate at 9.5%APR. I also have a used car loan with roughly $8k remaining(59 monthly payments- no early payment fees either) and 5.03%APR. I have $27k in student loans, my first payment due the 17th of December, 2018. For savings, I have roughly $9k in ESOP that I should receive once I officially leave my current company. I also have a 401k and Roth 401k. My question is: should I pay off high interest rates first or lower total amounts first, while still maintaining at least minimum payments on the rest? Also, should I keep making deposits to the 401k or roll it into an IRA? I'M 26 and have been winging this whole adult thing by myself since I was 18. I feel like I'm in an ok situation, but I feel like this debt is a huge burden on my shoulders. My gf has one year left of school so her student loans, though only about $20k, are pending too. Please send help! [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