Personal Finance Single dad struggling... |
- Single dad struggling...
- Stay all in on S&P 500 or start diversifying more?
- Having trouble figuring out how this scam works
- What's the best thing to do with a 401k from an old job? Can I roll it into my new 401k, or is 401k-to-IRA the way to go?
- I just had my car stolen a few hours ago, completely overwhelmed need advice
- Am I on track at 25?
- I want to get out of an Annuity my grandparents set up for me when I was born
- Just inherited 10k. What now?
- Does it ever make sense to put more than 20% down?
- Buying an used car. What should I watch out for and what should I ask for when I approach the dealer?
- Need some help picking 401k Funds
- Going on Strike Soon
- Palm Beach Tanning Subscrition scammed us out of $3k. Any options?
- Thoughts on Life Insurance
- Student, Financial Aid never came in. Looking for short term emergency personal loan
- Best credit card in terms of rewards for gas and groceries?
- Looking for advice regarding money that i have saved over the year.
- Good Budget App or Program I can Use?
- How to fund a new Chase account ($15K) with money from BoA? No branches around me.
- Given my situation, what's my best decision for three retirement plans from previous employers?
- 25 Y.O. College graduate. Dad wants to buy me a house.
- Scanning clerk is the first non-food service/cashier job I've had. What better paying jobs would i be qualified to do?
- How do you determine an ideal amount for charitable giving and tax advantage?
| Posted: 09 Dec 2018 07:31 AM PST Divorced about 1 year, sole custody...drive to work is 52 miles each way. Car had 381000 miles on it. A/C broke and timing belt goes...so I purchased a new car...5 months later I have a new job that gives me a car...money is tight.. so I would like to go back in time and avoid high car payment... if I trade it in now I'm upside down $5000. Any suggestions to a smaller car payment? Looking for a view I have not considered [link] [comments]  |
| Stay all in on S&P 500 or start diversifying more? Posted: 09 Dec 2018 06:46 AM PST Hey guys, I'm 26 and have a little over $3000 in a Roth IRA and everything is invested in Vanguard's VFINX fund. Seeing as the stock market hasn't been the greatest lately, should I start diversifying or keep putting my money into VFINX every month? I'm only able to do $200/month currently but will be upping that at some point next year. Any advice? [link] [comments]  |
| Having trouble figuring out how this scam works Posted: 09 Dec 2018 12:14 PM PST Yesterday I received a $250 blender in the mail that I never ordered. I checked all my bank accounts and credit karma, but nothing seems amiss. I called the company (a department store) that it came from and they said someone used my name, address, and phone number to buy this blender on some kind of buy now, pay later program. All I need to do is contact their fraud department on Monday and return it. What is going on here? [link] [comments]  |
| Posted: 09 Dec 2018 02:31 PM PST I have a Fidelity 401k from a previous job that has just under $10k in it. My new job offers a Transamerica 401k that also has a little under $10k at present. Both accounts are invested in Vanguard's 2055 target-date fund with an 0.09% expense ratio. I also have a Roth IRA that I tend to max out every year. Since the old 401k can no longer receive contributions and is managed through a former employer, I'd like to get rid of it. I have a few questions about that:
In general, what's the most advantageous option for me? I'm 29 and earning around $115,000 a year. Thanks! edit: Most of these questions are answered in the FAQ, so whoops, sorry about that. It looks like Trad. 401k -> Trad. 401k would be my best bet to avoid tax consequences, provided that Transamerica will allow me to do that. If not, would it be better to roll the old 401k into my Roth IRA and take the tax hit, or can I (should I) open a Traditional IRA alongside my existing Roth IRA? [link] [comments]  |
| I just had my car stolen a few hours ago, completely overwhelmed need advice Posted: 09 Dec 2018 02:17 AM PST I still can't believe it happened. I drove a pretty busted up 2011 Ford Econoline Van. It's huge and ugly with litteral holes in it. I don't know why anyone would want it, but maybe the large size stood or or something. I was visiting my sister for a little get together to celebrate a friend's birthday party. It started off like any other day. We had fun, played games, etc. When we went out to eat at around 6ish I saw it on the corner of my eye. I think I saw it when we came back at 7 too. The party ran long and before we knew it it was around 1:30 am. I turned the corner of the building and my car wasn't there. My first reaction was that I took a wrong turn somewhere. But that couldn't be right, it was only a 2 minute walk from where I parked to the building. But a lot can happen in 6 hours. I searched around in the cold for about 20-30 minutes, then called the police and checked to see if it was towed. The police couldn't find it in the records so a report was filed. A rundown: Searched the area. Called 311 to check for towing. Filed a police report. Plan to do: Call insurance company. Call DMV? Register the theft on websites like stolencar.com. Look on the internet? Search Craiglist or something? This is the car I use for work. It had all my tools and stuff in it and I can't begin to calculate the net loss. My financial situation fucked and I don't know how to operate now. I'm a bit shaken up. Is there anything I missed or need to know? Do you guys have any advice? If there's any critical action I need to take within the first few hours or etc... [link] [comments]  |
| Posted: 09 Dec 2018 02:33 PM PST Hello all. I am 25 currently making $70k a year a MCOL area. I aspire to one day be able to FIRE. I would like some valuation on what I am currently doing and if there are some areas I could improve in. 2 years about I was about $45k under water. I had just bought a used care with low mileage for $17k (which has been amazing thus far) and I still have $24k in loans. I was also only making $46k and then got a small raise to $50k. Today I am roughly $15k in the positive. I still have a $7k student loan, but since the interest is under 4% and I have 7 more months of deferment left, I will wait before finishing the loan off. My car is fully paid off (it was a $17k ish loan originally). Investments: 3k HSA (will try to max out next year) 10k 401k (will max out next year) 3k solo account (just made, will invest in FZROX 60%, FZILX 25%, FXNAX 10%) 10k in cash (usually my desired safety net amount) Student loans: 7k Car loan:0 Do my investments and numbers look okay? I want to set up a good foundation to build upon and would like to know if something looks off before I get too far in. [link] [comments]  |
| I want to get out of an Annuity my grandparents set up for me when I was born Posted: 09 Dec 2018 07:07 PM PST Background: I am 23 years old, just graduated college, no student debt, making around 70k a year in the state of California. My grandparents placed 15k in an annuity when I was born, which has now grown to around 40k(doesn't pay out cash, it compounds within the annuity). Due to the restrictions/fees ect, I want to take the money out of the annuity by the end of this year. The rush is due to starting fulltime work over the summer and making half a years salary, which would keep the withdrawal under the next marginal tax bracket. My goal is to not pay so much in fees (the annuity has a high load) and to have more flexibility in what I invest in (either real estate or equities). I am wondering what options I have and after doing some research, it seems I have these three. 1) Keep the money in the annuity 2) Withdrawl the money in cash, pay 10% federal penalty, 2.5% state penalty, and income tax on the cash. Which would total to around 30% of the withdrawal. 3) Move the money to a roth IRA, in which I would pay income tax, but not the 12.5% penalty with pulling it out in cash. I am wondering if my penalty assumptions are correct and if my income tax assumptions are correct (making around 35k this year and living in California). I am trying to weigh out the possibilities and having a difficult time due to a potential 30% loss with withdrawal in cash. If there are also any other avenues, would love to hear! [link] [comments]  |
| Posted: 09 Dec 2018 05:28 PM PST Hello people! My bf and i just inherited 10k. What should we do? We have some debt (around 15k including our car and student loan debt) and we've been saving to buy a house. I also really want to invest some of it. My question is which makes more sense; pay our debt off as much as possible, save it for the house, or invest? How much into each? Thanks! [link] [comments]  |
| Does it ever make sense to put more than 20% down? Posted: 09 Dec 2018 10:44 AM PST I know 20% is kind of the golden number for a down payment on a house, but as far as I can tell, the primary reason is that anything less means wasted money on mortgage insurance. But does it ever make sense to put MORE than 20% down? Just trying to get a sense of whether it would make sense to save for more than that, or if there's absolutely no good reason to do so. [link] [comments]  |
| Posted: 09 Dec 2018 06:33 PM PST First time car buyer so I dont have the slightest clue what I am doing. The car is 2018 model and only have 3,000 miles on it. It is sold as certified pre-owned which provides assurance to a good extent I suppose. And last but not least, according to its carfax report, "Key(s) (re) programmed New key(s) cut". Is this something I need to be concerned about? Thanks. [link] [comments]  |
| Need some help picking 401k Funds Posted: 09 Dec 2018 06:23 PM PST 31 years old. Current balance is 25K. Need some help on how to diversify my 401k. Currently in 100% stocks. I was told via some research on here that the Vanguard Institutional index is one of the best 401k funds out there, as it follows the S&P index. Should I leave everything invested in just one fund? Should I put 70% into the Vanguard Inst. Index and 30% into the Vanguard international fund? Or should I pick a target fund such as the 2050/2055 fund? Any help would be greatly appreciated! Here is a picture of all the funds offered. Thanks! [link] [comments]  |
| Posted: 09 Dec 2018 09:56 AM PST What should I prepare for, financially? I am a 48 year old teacher in Los Angeles, 2 kids under 7, wife is 34 and stays at home with the kids. We own home, mortgage is 2100 a month. Cars are paid off. Mostly, our debt is credit card bills and utilities. [link] [comments]  |
| Palm Beach Tanning Subscrition scammed us out of $3k. Any options? Posted: 09 Dec 2018 06:17 PM PST Long story ahead: My wife wanted to get a tan before our wedding back in 2016. She signed up for a recurring fee at a Palm Beach Tanning salon and told me she canceled it shortly after. The card she put it on is the one she uses to buy gifts for me so I don't check it. Usually see $100-300/mo on there and shrug it off (uber fees, lunches, etsy she'd say). I just logged into the account for the first time in ages (locked out on mobile, never use a computer at home) only to realize $99/mo on the statements from Palm Beach Tan going back as far as the eye can see. I calmly confronted her about this (even tho my blood was boiling) and she acted surprised and was convinced she canceled the tanning before we left for our honeymoon. We have no proof that it was canceled and we never receive any ads, emails, etc from PBT letting us know our account is still active. this feels like a huge scam. I thought about calling the CC company but I wouldn't know what to say & right now I'm too emotional (shame, anger, frustration). Any advice would be much appreciated. All other areas of our financial life are so sound, when I realized what happened my jaw hit the floor, "How could this happen to us?.." Stay vigilant my friends, and make sure you're checking on all accounts that have an impact on your financial wellbeing. [link] [comments]  |
| Posted: 09 Dec 2018 06:16 AM PST I'm 23 years old and unmarried. Software engineer at a unicorn in the Bay Area. A mutual acquaintance of mine is trying to sell me on life insurance, but my parents are strongly against it. My parents already have a decent amount of money to support in the case of an ailment. I want to err on the side of caution, but wanted to get other perspectives. [link] [comments]  |
| Student, Financial Aid never came in. Looking for short term emergency personal loan Posted: 09 Dec 2018 08:04 PM PST Hey there Reddit. I am a 20 year old college student from America studying abroad in Osaka Japan. Due to some strange circumstances, paperwork has been very iffy getting back to my home university, so they put me as a part time student instead of full time. So, I have missed out on several thousand dollars of financial aid. For the past 4 months I have been trying to fix this. It has taken too long. The school I currently attend demands $1800 by the end of this coming week. I have around $1200. The paperwork for my financial aid is practically done, and I just have to wait for it to be submitted and for the money to come into my account. The problem is, I don't think that will happen in time. USAA, my bank, denied me a personal loan even though I have no credit card debt, and offered a clear revenue stream to pay them back. At this point, I'm desperate. So onto the question, is there any trust-able place to get an emergency short term loan? I should be able to pay off the loan at maximum within a couple of weeks. The problem is getting the loan without insane interest rates. Does anyone have any suggestions? [link] [comments]  |
| Best credit card in terms of rewards for gas and groceries? Posted: 09 Dec 2018 08:04 PM PST I've been doing research on credit cards and am getting overwhelmed, too many options. What do you think is my best option if I'm mostly only going to be purchasing gas, groceries, and the occasional fast food meal? The Capital One Quicksilver Cash Reward seems decent, earning unlimited 1.5% cashback on every purchase; but then the Capital One VentureOne offers 1.25X miles on every purchase. There's also the Discover It Cash Back, which offers 1% cash back on all purchases and 5% on certain categories each quarter. I'm sure there are many others I haven't seen too. [link] [comments]  |
| Looking for advice regarding money that i have saved over the year. Posted: 09 Dec 2018 08:03 PM PST Just looking for advice on what to do with money. Ive worked consistently for the entire year and have shoveled 35k away. I hate thinking its just sitting idle, growing still but burning a hole in my pocket. tia for any help. [link] [comments]  |
| Good Budget App or Program I can Use? Posted: 09 Dec 2018 07:59 PM PST I am trying to find a good place to budget. I like to be able to micromanage my money each week (paid weekly). I am an electrician so my paycheck varies weekly depending if I work local or not, so one that I can easily adjust my weekly budget on the fly would be nice as well. I also like being able to connect my bank account to it for instant transactions. I use PNC as my bank but currently their Virtual Wallet isn't letting me create budgets so I have no idea on whether or not I like theirs. Just looking to see what is out there. If you know of a good way can do this on paper or a spreadsheet or something I would like to hear that as well. Thanks in advance. Apps/Programs I have used but don't like: Mint, Clarity, GoodBudget, and EveryDollar. [link] [comments]  |
| How to fund a new Chase account ($15K) with money from BoA? No branches around me. Posted: 09 Dec 2018 05:46 PM PST I originally tried to write myself a check but Chase's app check deposit limit is $2K. Can I deposit a $15K check at an ATM? Another option would be to mail this check to my mom and ask her to go to a Chase branch and deposit it in my account. Or do you guys have a better idea? Thanks! [link] [comments]  |
| Given my situation, what's my best decision for three retirement plans from previous employers? Posted: 09 Dec 2018 03:56 PM PST I'm 38. I have two 401k's and a 403b from previous employers. I also have a traditional and a Roth IRA. I also recently started a new job, which offers a 401k plan, but no matching benefits currently. They say they want to extend matching soon, but possibly not until mid 2019. If they do, I will be enrolling in their plan and maxing out those benefits. Anyhow, back to the guts - I want to get this todo off my list called "do something with three old retirement accounts." I prefer to pay taxes now so I am not burdened with it when I am older and while tax rates are lower, but I also want to make sure I do not pass up any greater benefits that I am not aware of and just do what gives me the most bang for my buck. I assume since my employer is not matching yet (and may very well never), it makes sense to me to not open another account, and just rollover all three retirement accounts into my traditional IRA. Or, can I roll them over into my Roth IRA and pay the taxes up front? Would there be penalties and it be considered an "early withdrawal?" Thanks for your time and advice - I joined this sub today! [link] [comments]  |
| 25 Y.O. College graduate. Dad wants to buy me a house. Posted: 09 Dec 2018 08:06 AM PST Hello all, so my SO and I gross about 100k. We can afford a house with a minimum down payment. However, my father wants to get us a slightly bigger house and wants us to move sooner rather than later. His reasons are that him and I have discussed my mother moving in with me as her health is declining (they're divorced). Additionally, the neighborhood we currently live in, he fears will bring us down in one way or the other. We were looking in the 180k range before and he was thinking 250k. He says we could pay him rent that we could afford. His thought process is that he would borrow from his 401k for a dp and that eventually it would be my property one day anyways. Now with the lack of debt, I was thinking that the SO and I could invest in income property around that 180k range as a second means of income. What are your thoughts? Is having a father as a landlord bad? Is investing in property good or bad? Additional factors: the neighborhood for our house was chosen based on school systems. Our only debt is car loans that total 40k. We both have savings that we could put towards downpayments. all in all we don't need his help. But I think that it would slingshot our success under an ideal scenario. Love to hear from you all. Thanks in advance. [link] [comments]  |
| Posted: 09 Dec 2018 02:22 PM PST I have a job as a scanning clerk and while it's not necessarily a bad job, it's rough on my joints, my hours are being cut, and there are a worrying amount of layoffs happening right now. On top of issues with the job itself, it pays 11.50/hr (a little over minimum wage in my state) and I'm realizing that doesn't suit my needs right now. It's a long story, but basically I had to move in back with my mom recently and my stuff is across the country, so I'm saving to have it mailed out here. That's going to be at least $2000, of which I'm at $1,200, saving half of every paycheck. I'm also trying to save for a car and to move out of my mom's, and I will need to start paying back my student loans soon (I don't have a degree). I don't know what jobs would even be available to me that aren't food service or retail, let alone that pay better. Can anyone recommend any jobs that might pay better? Or anything that might be a good option for me to make a good bit of money on the side? I do digital artwork, graphic design (I'm familiar with Adobe Photoshop and llustrator, and Krita) I'm a decent writer, singer, and generally creative person. I'm not very fast at typing but I can do it. And like I said, I've mostly been a cashier before this. Tl;Dr: can you recommend jobs to hunt for that pay more than minimum wage and aren't in food service or retail, so that I can save for upcoming large expenses? I have no degree and my current job is as a scanning clerk. [link] [comments]  |
| How do you determine an ideal amount for charitable giving and tax advantage? Posted: 09 Dec 2018 06:52 PM PST I live in the US. My spouse and I give to charity because we think that is right. We do however take whatever tax deductions this accrues. I get the impression that some people (regardless of other motivation) derive some specific figure they target to give for the year to optimize tax benefits. if this is true, how do you know how much is optimal? Is it a complicated issue? [link] [comments]  |
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