Personal Finance Weekend Discussion and Victory Thread for the week of December 28, 2018 |
- Weekend Discussion and Victory Thread for the week of December 28, 2018
- Never buy a Wyndam “Ownership”
- Stopped ordering food delivery to save $$
- Separating from wife, she has no car, no job, no home - what help can she get?
- Almost 35 with nothing
- Really broke, in debt, and need help finding a way out.
- My father has 6 months left really need some advice
- I'm embarrassed with myself and things need to change.
- Should I sell my house or rent it out? I want to rent but everyone is telling me to take the money and run
- How to Prevent Alcoholic from Draining 401K
- My fiancée’s brother listed her as an authorized user on his credit card (without my fiancée’s knowledge) and is now nearing bankruptcy.
- Please advise my adult kids since we cannot
- College student looking to prepare for the future
- Forego savings to pay off student loans
- Buying a secondary home before primary?
- Beginning budgeting for 2019 - A bit overwhelmed by all the options & information. Advice is appreciated.
- Things every young person getting their first accounts with a bank should know.
- Mom scammed on computer
- How to respond to job offer while waiting on a better one
- I (29W) started to save this year. Is it enough to save 600 every month for retirement?
- I’m anxious about the security of my bank account
- ExMIL has been in trouble for forging my signature. Now I find out she's used my SSN to buy bonds.
- How do you handle people asking you for financial advice?
- Best way to financially proceed
| Weekend Discussion and Victory Thread for the week of December 28, 2018 Posted: 28 Dec 2018 01:05 PM PST If you need help, please check the PF Wiki to see if your question might be answered there.This thread is for personal finance questions, discussions, and sharing your success stories:
A big thank you to the many PFers who take time to answer other people's questions! [link] [comments]  |
| Never buy a Wyndam “Ownership” Posted: 28 Dec 2018 12:06 PM PST Today my sister convinced me to go to one of these timeshare meetings to get free tickets so we could all go to dinner theater. I do not recommend this. While I was smart enough to say no to this insane "program," there were tons of people around me signing up. There was a troubling number of disabled people in the room. Just buy the tickets. To break it down, you get 200,000 "points" per year for $50,000. What does 200,000 equal? "It's different everywhere but if you don't go during peak season you can go for two months and you can even RENT your space!" This was a lie. They wanted us to pay a $15,000 deposit today and finance the rest in house for 17.99%. For those keeping up at home, you are paying roughly $150,000 for points for life, plus a yearly maintenance fee, for which they could not project into the future. I asked if they could show me how much it has risen in the last few years and where they project it to be, and they wouldn't provide me with any of that. "It won't rise exponentially." This whole situation pissed me off. They asked us to not lie and be open minded, but constantly lied to us. They use every shitty sales tactic in the book. They shame you for choosing to be a renter instead of an owner. They change the location of your meeting constantly. They changed sales reps multiple times. They would not accept no for an answer. I showed them that it would be Think of the tricks Michael uses in the Office: "Do you want your life to get better, worse, or stay the same?" I get home and log into eBay and see that these $50,000 memberships can be bought for literally $1. The whole experience was horrifying. They prey on the uneducated and those with special needs. EDIT: Someone checked my math on the interest. I way overestimated. [link] [comments]  |
| Stopped ordering food delivery to save $$ Posted: 28 Dec 2018 07:35 AM PST I'm in my 20s and have since university, I've formed some bad financial habits including eating out for most of my meals. Once these habits led to me spending $36 on food delivery for 2 people, I realized something needed to change. What started off as a Whopper at BK once in a week in 2012 turned into a habit of ordering medium combos 4x a week at the drive-thru and pizza delivery. Here the amounts would be around ~$25 if I was paying to feed two of us. Then in 2017, I learned about food delivery apps like Skip the Dishes and Uber Eats and how convenient they were. It became a daily ritual of ordering a big meal, paying a $4 delivery fee as well as a tip on top of a $20-30 dollar meal. I had tried deleting the apps and often found myself easily reinstalling and the apps would remember my credit card info. Some courage led to me finally taking a look at my numbers and it was shocking to learn that I was spending upwards of $900 a month on food. Groceries were included but those would often go to waste because ordering food from my phone was such a routine, I didn't need to open the fridge door. After being self-aware of my spending, I set limits for myself. I would keep the apps, look at them if I needed to, but I would not order. Instead I would order Dominos if I had an intense craving and remind myself of how I would feel the next morning if I did just that. Results: In a 50-day period including today, I have only ordered Dominos twice, spending $40 in total. Within the past 50 days, I've spent $0 on food delivery. Takeout: $150 Groceries: $350 This gives me more $$ to save instead. My SO never supported me ordering food delivery but I always fed him to be fair. Now he is very supportive of getting groceries as he knows they are not going to waste. We have made more meals together and are enjoying the time spent making them. We can improve by making salads and other healthy meals as we have been digging into ice cream at home (solving the problem of food delivery can lead to new problems when grocery shopping but that'a a different story). If anyone can relate to this, just know that it is never too late to form better habits. I now have over $5000 in savings and there's potential for so much more if I can keep cutting food expenses. If you're spending enormous amounts of $$ on takeout or delivery, focus on small improvements, like ordering a $20 meal instead of $30 or ordering three times a week instead of five times. Believe that you can develop better habits, and get yourself back up again if you did slip. I'm restricting myself by not even ordering in, but it is okay if you do moderately. [link] [comments]  |
| Separating from wife, she has no car, no job, no home - what help can she get? Posted: 28 Dec 2018 04:15 AM PST I'm sorry if this is the wrong place, if someone could recommend a better place, please let me know. Without going into details, my wife and I are separating. She just totalled her car, so she can't get to work. We have no savings left. She is going to be in a psych facility getting help for a while, but when they discharge her she's not welcome in this home anymore (please don't think I'm being the bad person here, I've tried to make it work and keep our heads above water by myself, and I can't do it anymore). We live in Pennsylvania. Can anyone recommend resources that I can provide her with to help get a home, a job, and a car? [link] [comments]  |
| Posted: 28 Dec 2018 09:47 AM PST I graduated college at 32 (went back to school at 27). I turn 35 in 2019, and I have exactly $556 in a 401k I started last year. I have $400 in a savings account that I'm trying to use for a safety net. I have about as much money as a 19 year old kid. When it comes to how much I owe, between student loans, car payments, and credit card bills it's roughly $50,000. I make $63,000 a year with an expected increase up to $75,000 by August of 2019. I also expect an on-going annual raise of at least 5%, just due to the line of work I'm in. A long life of horrible money making decisions led to this, but I'm now really starting to feel the time crunch and know I desperately need to buckle down. Has anybody been in a situation similar to mine and it turned out okay as in being able to retire comfortable or ever purchase a home? I know I'm dramatically behind compared to most Americans my age but I need to hear if it is possible for me to dig myself out of this hole. [link] [comments]  |
| Really broke, in debt, and need help finding a way out. Posted: 28 Dec 2018 12:04 PM PST I don't know how much information I'm allowed to post here, but I'll try to make a base.
I'm wondering how I could go about getting myself out of this situation. I don't have family members able to help me out, and I feel like I'm sinking myself deeper into a hole. I don't have my license and am unable to drive, so I generally uber to work everyday. This costs me around $7.50 a day, because public transportation is much more difficult (I would have to wake up 3 hours earlier to make it to work on time, and the cost is $1.50) I try to buy groceries, but am never sure what I am willing/able to make, so I eat out a lot. Not everyday, but at least 4-5 times a week. This can range from $8 a meal to $16 a meal. I often times will eat canned foods, frozen meals, cereal, sandwiches, etc... which is a lot cheaper than $8/meal. I am awful at saving money and have never been good at it. I spend money like it isn't a problem. I understand my habits are bad and need to change, but I don't know where to start. Any advice would be amazing. I make a fair amount of money for someone in my position, but it isn't like my funds are unlimited. I have tried opening up savings accounts, but usually the balance is around $0 because I end up taking out whatever I spend or it gets deducted in fees. I bank with U.S. Bank. Thank you to anyone who would even like to attempt to try to help me. [link] [comments]  |
| My father has 6 months left really need some advice Posted: 28 Dec 2018 06:15 AM PST My 60 year old father was told yesterday he has 6 months due to stage 4 cancer which is aggressive at this juncture. He has been a small business owner for the last 12 years but prior held a private job and has a 401k with my mom named as beneficiary. Account has around a half million but that's about all he has in liquid assets. We are going to try to sell stuff off from his business and the business itself is on leased property. They have amassed a lot of debt during my fathers treatment the last year. Medical bills are astronomical and the remaining debts are mostly credit cards and miscellaneous debts. My dad isn't focused on what happens after he passes and understandably so as he is very depressed but I worry about my mother. My mother has been a stay at home mom all her life and has no work skills. My youngest sister is still in high school and obviously lives at home with them. I believe the home was paid at one point but they have a home equity credit loan. I just don't know where to start as far as trying to figure out next steps once he leaves us. I worry about my mother because as I stated she has never worked and she is also 60 now. Can anyone provide me some advice as I am the oldest and will be leaned upon when the time comes. I am hoping my dad will take some necessary steps to plan before he passes but his depression is so bad I am not sure. I do ok financially but I am still relatively young and do t have a bunch of money at my disposal to do very much. I am so overwhelmed and hoping for some advice. Thanks in advance [link] [comments]  |
| I'm embarrassed with myself and things need to change. Posted: 28 Dec 2018 08:22 AM PST I'm a 27 year old male with a decent paying job in the Baltimore area and horrible spending habits. My mindset seems to always have been "I have it so I can spend it.", and if you asked me what my worst quality as a person is, I would tell you it would be my spending habits. Oddly, sometimes I intentionally won't check my statements or debit statements.. sort of a out of sight/out of mind trick. Trust me, I see the immaturity in that thought process. It needs to change. I'm currently sitting on about $66,000 of debt, split between a car payment ($5,800), school ($38,000), personal loan ($11,000), and credit cards ($11,250). My take home a month is roughly $4,500/net a month, so I know if I get smarter, I can start to chip away at this large mound of debt. I've gone mainstream lately with David Ramsey podcasts, but I can't decide to go with the "snowball" or "avalanche" method. Are there other podcasts to listen to that offer better tactics or advice? If you have the time, what personal advice for me do you have to tackle this issue correctly? I'm new to this sub and have concentrated on top posts, but I am intrigued on what the subscribers here think, too. Thank you in advance. Edit: Flair/net pay. [link] [comments]  |
| Posted: 28 Dec 2018 04:17 PM PST I bought a cute little house when I was 22 (built in 1942, 1198 sqft, 2 br/1ba). Well, 17 years passed with me in that house and now I'm recently married and will be moving about 700 miles away soon. (OKC to Houston if that matters). I contacted a real estate agent who pulled comps for me and said I should be able to get around $105k for the house or rent it for around $800 a month. I love the idea of renting it out because that would be a tiny income stream for me and my new husband. I owe $22,300 on the house right now with a monthly mortgage of 574. This is what everyone is telling me: the renters will tear the house up, you'll still be making payments on it for years so if you can't get a renter you're screwed, um, yeah I guess that's it. I plan on (if I rent it out) using a local property management company that told me they'd take about 10% of my monthly rent and deal with screening the tenants, taking maintenance calls, etc. What do the smart and unbiased money nerds of PF think? If I do sell, I'll just be taking the money get out of the house and socking it away until hubby and I buy a house down in Texas next year. [link] [comments]  |
| How to Prevent Alcoholic from Draining 401K Posted: 28 Dec 2018 04:42 AM PST My dad is a late-stage alcoholic and just got fired from his job. He's 62, finally lost control after decades of high function. He and my mom are still married. My mom has power of attorney. She was told she couldn't roll his 401K into hers, that she'd have to cash it out to then deposit it into her account. It'd be a real shame to cash out all those securities. Is there any way to block his access to the account, or require her permission for any withdrawals? We are concerned he will drain the account for booze. [link] [comments]  |
| Posted: 28 Dec 2018 03:30 PM PST What repercussion does she have? Can she take herself off of his account before he files bankruptcy? How big of an affect would this have on her credit? I don't believe he did this maliciously, he did it back in a time when he had a good job and good credit, probably thinking it would help her improve her credit. [link] [comments]  |
| Please advise my adult kids since we cannot Posted: 28 Dec 2018 05:44 AM PST My husband and I have always been broke. We've never owned anything, at 40 and 50 years old. Both of us came from homes with abusive parents they taught us nothing about money, and as a result we grew up with a mentality that buying a house was impossible. We spent every cent we could get,maxed out credit within days of getting it. Other people were "rich", meaning they could take a day off of work, or not be devastated by flat tire. We now have managed to put our children through college,both with good credit. What is the best advice for them starting out? Should they buy a home? It's incredibly embarrassing and humbling to have to ask these questions but I want my kids to be the "other people", not us. What are the best tips you can give for them starting out? At the moment we all live together, three of us working - hourly salaries are 12,12.50,and 18. We are an extremely close family and have no problem living together and pooling our resources, and currently have a total (all 4 of us) debt of about $40,000 - this includes a car, credit cards, and student loans. [link] [comments]  |
| College student looking to prepare for the future Posted: 28 Dec 2018 03:53 PM PST I am currently a college student with plans to graduate in about a year and a half. I currently support myself entirely, and am curious where to start with saving money or investing. Living modestly, after all bills, groceries, and tuition is paid, I have roughly $300 at the end of the month that if I don't make a point to put aside, I feel as if I waste it on unnecessary things. I'd like to get into the habit now of saving so once I am out of school, I can be on course to a healthy financial routine. Any help and suggestions are greatly appreciated! [link] [comments]  |
| Forego savings to pay off student loans Posted: 28 Dec 2018 05:58 PM PST I am 25 and graduated a little over a year ago with $11,000 in student loans. I have recently finished building up a 6 month emergency fund, and will start contributing 6% to my 401K in a couple of months when my company allows for it (they match 4%). After expenses, I usually put $1,300 a month towards savings, but with my 401K contributions that will be going down to $1,000. Would it be smarter for me to put all $1,000 to my student loans or to divide the amount between my loans and savings? I hear so much about paying off debt as quick as possible, but also to be saving so I'm just not sure what the best course of action is. Thanks! [link] [comments]  |
| Buying a secondary home before primary? Posted: 28 Dec 2018 06:19 AM PST Created a throwaway for this... My partner and I live in a very high COL city primarily for our careers. As in, to get a studio/small 1 bedroom place we'd be looking at around half a million starting. Theoretically I could probably find a job in a cheaper area, but I love what I do and don't really want to. He's more specialized, and would likely just be trading one high COL city for another. Sure, if we go outside the city we might get the price down a little bit - not much if it's still within a reasonable commute. Not enough to make the increase in commuting time worth it to either of us. So, we're renting. We're both in our mid-thirties: --Our combined gross income is about $230,000 per year. --We pay $2500 a month total to rent a 1 bedroom, which is about median pricing in the area for a 1 bedroom. --We don't have any debt. We have 1 car that's paid off. --We don't have children and aren't planning to have them. --We're saving, we're happy, we travel a bit (generally 1 trip a year). --We don't have family financial help. We've noticed a lot of people we know who buy in or around the city have help from family. We are not in that club. --We have enough in savings to where we could put 25% down for a $600,000 condo/apartment, but it would take the majority of our savings to do so (not counting retirement savings, which we just put away and ignore that it exists). We're just not that comfortable doing that... We also feel like we're in a housing bubble, and all bubbles burst eventually. So, we really don't want to take out a mortgage for some $600 or $700,000 place. But, what mostly concerns me about renting indefinitely is that we won't have a home that's paid off to retire in. A lot of retirement guidance assumes you'd have paid off a mortgage and own property, not that you'd be at the whim of the rental market someplace. What we've talked about is possibly buying a secondary home in the mountains somewhere and continuing renting our primary, with the idea of retiring there eventually. We're looking at areas that we enjoy vacationing at, and are maybe a 3-4 hour drive from our current city. Is that insane? Other than the basics of making sure you can pay rent and the mortgage/taxes/basic maintenance costs on the secondary property, are there hidden "secondary home" expenses/fees we're not thinking about? Has anyone done anything similar, do you have advice? Thank you!! [link] [comments]  |
| Posted: 28 Dec 2018 05:30 PM PST Hi all, I recently paid my last student loan payment, so I'm 100% debt free. As a result, I'm working to design my budget for 2019. I'm reading on the Wiki for my age range, taking a look at all the tools 1,2,3, etc. but I'm a bit overwhelmed by the sheer amount of information out there right now. Itemized relevant details below, but the TL;DR questions I have are:
Personal details:
Expenses (values rounded up):
Difference in income/expense: $900 Goals:
Savings:
[link] [comments]  |
| Things every young person getting their first accounts with a bank should know. Posted: 28 Dec 2018 12:00 PM PST I worked in banking for over a decade. Here are the most common banking mistakes and how to avoid them. If you get a credit card, you can make the bank set the line if credit to the minimum amount. Make the set it to the minimum credit line. Don't let them increase it. Don't let them sell you on additional credit cards or credit products. Bank employees get commission for selling you on most bank products and will push you to get more credit cards. Don't fall for their sales pitch. If they automatically increase it, call them up and have them set it to the minimum credit line. Do not get a card with an annual fee. Most likely your first card will have a high interest rate. If you pay the card balance listed on the bill, you avoid all interest. Not the minimum payment, but the card's statement balance. For pro tier credit card handling, if you used it, make a payment on it for the amount you used same day. This can be done by making the payment at the bank, or utilizing bill pay on your online banking. Now lets talk about how to avoid overdraft fees on your checking account. It is super old school, but I have a transaction register book which the bank will give you for free. I keep all my receipts, and at the end of the day, I record them in my book, than check it against my online banking to see what transactions have cleared, and which ones have not. Your book will have record of transactions that have not cleared, providing you a live accurate balance. While it is a lot of work, I prefer that over paying multiple $35 fees. Let's talk savings accounts. If you are lucky enough to not pay rent, get two savings accounts that don't charge a monthly fee. Set aside a reasonable amount into each account every pay check. Have one be your slush fun for fun things that you will want to buy. Have the other be one you don't ever touch, EVER! Use that second one for emergencies. Like medical, car repairs, or for have maxed out your low limit credit card, even though I told you to pay it off. Now, the dark side of banking. You are 18, you should be the only signer on all of your accounts. You should be the only one with access to them. Do not keep your parents on your savings. Do not let your parents hold on to your credit card for you. Do not add that new person you are dating to your accounts. People get weird about money. I have seen a mom take her son's credit card, max it out, destroy his credit, and he doesn't want to take any legal action because it is his mom. Some parents start to see their kids as a way of getting an interest free loan. Set up your checking and savings account statements for email only. Tl;dr- If you get a credit card, get the minimum limit and always pay it off. Avoid annual/monthly fees on everything. Pay off the credit card as you use it. Don't get more than one card. Set aside money in your savings. Track your spending in your checking. You should be the only one on all your bank products. Edit: From my experience, a new bank account owner should not get overdraft protection. Most new bank account owners either tank their savings account and not realize it, or max out the line of credit that is linked for over draft protection. A $35 overdraft fee or two serves as a much harsher lesson to pay closer attention to spending. And unless some laws Have been changed, I believe you can only get X amount of fees in one day. Plus, you may be able to get the bank to forgive one or two of the fees. Your best bet to getting a fee waived is to politely ask and accept the first answer you are given. If it is a no, you might be able to ask at a different branch and get a different answer. If you put up an argument, the banker is more likely to note the interaction on your profile for other bankers to see until the end of time. Also, as you mentioned, try to avoid automatic monthly charges at all costs. If you have bills, pay them through your bill pay and note them in your check register as they do not clear immediately. Checks are not so bad if you put them in your check book as you write them. [link] [comments]  |
| Posted: 28 Dec 2018 05:18 AM PST Always hear these stories and how people can be so stupid, well my mom bit hook line and sinker to calling a number on some random alert that popped up on her computer and gave the person on the other end access to control her computer and "help her". Immediately started threatening her with personal information they found on her computer. She owns her own business and all tax and account information is on this computer. She called me in the middle of this and Ifirst thing I did was have her turn her computer off, start going through the three credit agencies to lock down credit. This morning having her call all bank accounts, both personal and business to get alerts / freeze accounts. Should she close accounts and open new ones? Are there other things I should have her do? [link] [comments]  |
| How to respond to job offer while waiting on a better one Posted: 28 Dec 2018 08:21 AM PST My husband got a job offer for less than it should be, and they want a reply today. He has an interview next Thursday for a different job that will pay more and be better hours. It seems very promising that he'll get it but you never know. Does he negotiate and accept the 1st job while still working on securing the 2nd? Does he mention the other opportunity to either? [link] [comments]  |
| I (29W) started to save this year. Is it enough to save 600 every month for retirement? Posted: 28 Dec 2018 03:52 PM PST Hello everyone! I've been lurking here for quite a while and I have the feeling that I'm way too late for everything, but this subreddit helped me to stop buying useless "nice" things and spending too much money on restaurants. I've tested it the last few months and noticed it's possible to save 600 EUR (roughly 680 USD) every month. Short facts:
The ETFs I'm buying and planning to hold for the next 30 years are:35% MSCI Emerging Markets (ISIN: IE00BKM4GZ66)65% MCSI World (ISIN: IE00B4L5Y983)... and I hope to reach around avg 8% once the 30 years are over. That would make around 720k in case I haven't miscalculated the compound interest. I don't know that much about ETFs, I've only read a book about it and saw both ISINs mentioned in a few forums. Questions:
Honestly, I hate myself for wasting the last 15 years without saving any money. After reading all these threads here, I don't even know if I'll have enough for retirement or even kids anytime in the future. The latter isn't a priority at the moment because my husband and I want to save enough during the next years, but it seems that kids are extremely expensive and... it looks like I have to choose just one of these options: a) a (hopefully) carefree retirement or b) kids and struggling during retirement. Selling the house (around 150 or 200k) doesn't make that much sense. We're living on the countryside already and it will be difficult to find something cheaper without a lot of repairing costs and/or a good location. Right now we have just 5 minutes to the next grocery store, train station, police station, school; and 15minutes to the next hospital / city. Moving to another country during retirement would be an option, but we'd prefer to stay in Europe because of the better/cheaper healthcare options. Oh and I will try to make some extra money here and there in order to increase my savings a bit. Thanks for your help, I really appreciate it! [link] [comments]  |
| I’m anxious about the security of my bank account Posted: 28 Dec 2018 05:59 PM PST In the past I can recall signing my bank up for some sketchy websites, for example: YouTube views that didn't arrive, the site was secure from the https but the package never arrived and the site just looks a bit off. So I've maybe signed up for 3-4 more of these sorts of websites in the past. I'm 17 now and was wondering: (TLDR) Is it normal/available to completely delete your bank and wipe it off the face of the earth and start a new one with different details, say if you were paranoid about these people waiting with your bank info until you start earning money. Thanks [link] [comments]  |
| ExMIL has been in trouble for forging my signature. Now I find out she's used my SSN to buy bonds. Posted: 28 Dec 2018 01:23 PM PST I posted a rant on /r/JustNoMIL earlier this week that can be found here. My ex-mother-in-law bought at least 3 savings bonds for my daughter that are in my daughter's name, her name, and with my social security number. This was back in 2006. My daughter just brought them home from her father's house. There was also one savings bond, bought in 2005, made out to my daughter, my exMIL, and under my daughter's SSN. My ex-MIL had worked at a bank when these were purchased. I had an account at that same bank. I had given her permission to open a savings account for my daughter, which means I had to have given her my daughter's SSN at some point. However, I never gave her my SSN, nor did I give her permission to use my SSN for anything. My divorce was finalized in 2007. I closed the bank account I had at the time the day after my ex and I split up. During the divorce proceedings, my exMIL forged my signature on a truck title, and the truck was sold. The truck was only in my name. Police got involved. Through the years, up until about 2013, things would come up on my credit report that I would have to dispute and/or sign affidavits about, because accounts and charges were made in my name. I always blamed it on my ex. Now, with a handful of 12-year-old bonds that my exMIL used my SSN on, I'm not so sure. I've gone to my bank, where I was told that my ex-MIL used my SSN "probably by accident." I've gone to the local police, who declined to take a report because of the amount of time that has passed. I've received an automated email reply from the Treasury Department, that only said the SSN was used for "record keeping purposes, and has no bearing on the ownership." I put out a fraud alert to all 3 major credit reporting bureaus (Experian, Equifax, TransUnion) the other day when I found out. I'm out of printer paper, so I'm going to start printing credit reports tomorrow after I go to the store. Who else do I need to report this to? What else do I need to do? So far, no one seems concerned about someone with a bad track record using my SSN without authorization, even if the only concrete proof I have is 12 years old. The thought that I have to wait and see if she ever uses it again is very frustrating. [link] [comments]  |
| How do you handle people asking you for financial advice? Posted: 28 Dec 2018 12:00 PM PST I have had several friends and family members ask me what they should do with thier money. I personally don't feel qualified to say anything but "I put my money in vanguard's index funds." But still I have so far held off making any comment out of dear that they would blame me if the market goes south and they lose money. How do you handle these situations? Any advice on giving financial advice? [link] [comments]  |
| Best way to financially proceed Posted: 28 Dec 2018 05:55 PM PST I'm 29M switching careers to become a firefighter, I've worked the last 8 years as an engineer and have saved some good money. My only debt is my house. I have all my savings (roughly 60k) in Ally earning 2.00% APR and have my Roth IRA maxed. My company offers profit sharing so I can't contribute anything to that. What should I do with my savings? I'm debating putting 50k in an Ally CD (12 month) that earns 2.75%. If I needed access to that money there is a 60 day interest penalty, but I don't perceive needing it. Is that my best option to make my money work for me? [link] [comments]  |
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