Personal Finance Weekday Help and Victory Thread for the week of August 26, 2019 |
- Weekday Help and Victory Thread for the week of August 26, 2019
- Be wary of dental chains that offer cheap New Patient Exams/Cleanings
- Assuming my job is recession proof and that I have enough in savings, would it behoove me to wait for a housing market downturn before purchasing a home?
- Recent graduate, unemployed. Got bad job offer - should I take it anway?
- I'm living in poverty and desperately need advice to escape it (UK)
- How would a recession affect an individual with a fixed rate mortgage?
- How much house is reasonable?
- Saw a post awhile back about making your final car payment at the bank.
- Are my parents getting scammed?
- Bank of America Error
- Insurance claims I owe 60000 for a minor surgery
- Being smart with your money also means being smart about protecting it.
- Emergency fund - full salary or penny pinching?
- 21,151 CC Debt 22,000 Student Loan Debt just want advice
- Should I pay off my car? 7.5k @2.5%, planning on buying property in <2 years.
- Landlord wants to buy out newly signed lease.
- I'm gonna lose my job and husband had just quit a week earlier
- I was robbed and they stole and wrecked a car that was renting. What do I do?
- Critique my budget!
- When to refinance car loan
- Where and how to get a loan?
- Mortgage refinance question
- Small Inherited IRA, invest or spend on home improvements?
- HSA Bank charges $2.50 monthly for all accounts with balances less than $4,999.99. Should I deposit the remaining ~$1.5k to stop getting that fee?
- What would you do? Should I look for a new job?
| Weekday Help and Victory Thread for the week of August 26, 2019 Posted: 26 Aug 2019 04:08 AM PDT 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]  |
| Be wary of dental chains that offer cheap New Patient Exams/Cleanings Posted: 26 Aug 2019 09:47 AM PDT This may be anecdotal, but it felt worth mentioning. I went to a popular chain for a $57 new patient exam, cleaning, and x-rays. They found multiple cavities and I spent $600 on getting them fixed. I could only afford to do half of them at once, and was going to come back to finish on another day. In the mean time, I got a new job that offered dental insurance. So I went to a private dentist office instead to finish up the work. They said I had zero cavities or problem teeth. I went to a second office just to be safe, and they said the same thing. It seems pretty scammy to me. Just be careful. [link] [comments]  |
| Posted: 26 Aug 2019 06:51 AM PDT EDIT: Yes I know you can't time the market... EDIT EDIT: Ouch some of you just want to leave it at the easy answer - I Appreciate those taking the time to dive into pros and cons of things and how to make a decision. Sorry If my question and edit seemed counterproductive, then again... [link] [comments]  |
| Recent graduate, unemployed. Got bad job offer - should I take it anway? Posted: 26 Aug 2019 07:56 AM PDT I graduated (masters) recently. I could not find work in my field and have been applying everywhere. A company I would have loved to work for has offered me a very, very badly paid position. My brother, who did not go to college, makes more. I am considering taking it, just until I can find something better. That way I get experience and I could quit anytime. Or would it be better to keep looking until I find a better position? [link] [comments]  |
| I'm living in poverty and desperately need advice to escape it (UK) Posted: 26 Aug 2019 03:51 AM PDT I live in the north of England in a coastal town with relatively few opportunities to get a job. I've used the services provided by the local jobcentre for trying to get a job for the past 3 years but that has amounted to nothing. I have enrolled onto seven different sector-based work academy courses over the past three years but I've never got a job after completing them (each course has been about 6-12 weeks long). The courses at the local college are too expensive for me; and the Open University, which my jobcentre Work Coach told me is meant to be a cheap alternative for poor people, have courses that cost thousands of pounds to access. I have tried job agencies such as Castleview Group and have even completed a course provided by Castleview Group, but I've only been successful in getting a job through an agency once, which occured just over three years ago; the job I got then lasted only a week. I have also completed several CV writing, interview, and job-searching courses over the past three years. I've been on so many courses now that my Work Coach refuses to register me on for anymore of them. I'm now in a position where my Work Coach only sees me once every two months because there's nothing that works for me. I was diagnosed with Autism Spectrum Disorder two years ago (I'm 25 years old now); this may be part of the reason why I've only been successful once in getting a job. However, I don't look disabled and I'm not mentally retarded. If I was diagnosed several years ago, I would have been diagnosed with Asperger's Syndrome. Can anyone reading this please give me advice. I've tried looking for free courses online that many people say are great alternatives to college (I've already been to university and have a two-year history degree) but I can't find them. I'm also unsure of what careers have the most potential for growth and stability in the future because of widespread automation. I'm in such a desperate situation now that my sister has moved out because she used to help me with bills, rent, and food. I only have enough food for the next 6 days. I'm also approaching insanity; I don't think I can maintain my sanity for much longer. I just need to do something that will get me out of this situation -- do not recommend I see a mental health specialist because that won't end my poverty, hunger, and desperation. Just give me the advice I want. I have no family or friends to ask for advice (my sister moved out because of an argument we had), so please don't say that I should rely on my current social network because I don't have one. [link] [comments]  |
| How would a recession affect an individual with a fixed rate mortgage? Posted: 26 Aug 2019 08:14 AM PDT Hello! I am looking to purchase my first home in the next year and plan on doing a conventional/fixed rate loan. Recently I've seen lots of different speculation on the housing market/stock market and that a recession is entirely possible soon. Lets say I got a loan in June 2020 and then the markets go downwards in December 2020, what changes? Will it just be the value of my house? Will this somehow affect the mortgage payment? Any other financial things that I am not seeing? To give perspective: my understanding of something like the 2008 recession is that people with adjustable rate mortgages got screwed as interests rates shot up and people couldn't pay. Also, the value of all houses dropped significantly for some x amount of time. A lot of media made it seem like that time period was horrid so I want to understand how something like this would affect me in purchasing a house today. Edit: Thanks everyone for the response! I believe my question was answered and I learned a couple of other things. Also sorry if I helped spread media fears of another "2008" around the corner. That wasn't my intention but moreso my only point of reference when it comes to this stuff. An additional question I have now is would any of you recommend to buy a house during a recession period provided job/income were stable? I ask this as I am not familiar how new loan rates would change if property values decrease. [link] [comments]  |
| Posted: 26 Aug 2019 05:19 AM PDT I'm very fortunate to be in the financial situation I am in but am unsure just how much house I can really afford. I make about 125k a year and nerd wallet says I can afford a house over 600k but that seems absurd. I have no debt but I have never spent more than 1500/month on housing. There is a house I would like to buy that's about 300k in the city. The buyer of the house has the right to buy the undeveloped lot next door for 70k and having a double lot in the city is pretty rare. 370k would be about a 2000/month mortgage. I qualify for VA and I could put down more but have been budgeting about a 10% down payment. Is this an unreasonable amount or am I being to conservative. Edit: Just to clarify VA loans don't have PMI so that's not a concern. [link] [comments]  |
| Saw a post awhile back about making your final car payment at the bank. Posted: 26 Aug 2019 05:35 PM PDT I cannot find it for the life of me. I saw a post awhile back about making your final car payment in person at the bank to properly close out the loan. I'm stoked. I'm about to pay off my 4.5 year car loan that I've had less than a year. This is my first (hopefully only) loan I've ever had and I want to make sure I close it correctly. I have a credit union if that makes a difference. [link] [comments]  |
| Are my parents getting scammed? Posted: 26 Aug 2019 07:38 AM PDT My parents are selling puppies and it's their first time doing so. They got a text from a lady who was interested located in Atlanta GA (they are located in Nebraska). The lady sent my parents two cashier's checks for 900 each. 600 for the puppy, 50 for a health check and papers, and then the rest is going to a driver that she is hiring to take the puppy down to Georgia for her. My parents are supposed to take what they need and then give the rest to a driver. The driver is claimed to be a stranger to the lady although I don't know that for fact. My question is how can my parents be scammed in this exchange? The whole thing seems incredibly fishy to me. Why two cashier's checks? Why not send the amounts necessary to each party individually? (650 to my parents and 1150 to the driver). I just don't know what to think of this whole thing, but it certainly seems fishy to me. Edit: thanks for the information everyone, I told my parents about this and they agreed to take the checks to the police to have it investigated. The other puppies are all spoken for by locals that they know personally and I'm sure they'll have no trouble finding a good home for the last puppy. [link] [comments]  |
| Posted: 26 Aug 2019 05:56 PM PDT This is my first time posting on reddit. This is a long story but I am going to try to make it short and as clear as possible because I really do need advice. On April 10, I noticed $X,XXX.XX was withdrawn from my checking account at a Bank of America in Massachusetts. I live in a different state which is a flight away. I immediately called and reported the fraud. I found out that someone walked into a BOA and withdrew the money from a bank teller not an ATM. The fraud department told me to file a police report because someone must have stolen my identity. However, I had both my debit and credit card as well as my license and passport. Nothing was missing. Anyways, I file a police report. I found out that the person who stole my money did not swipe a debit card, did not use my pin, did not have my ID, did not have my social security, did not answer any security questions linked to the account and did not receive any text verification from my number. Because the person had none of this but still was able to withdraw all that money, the police told me it was likely an inside job with the bank teller working with the person pretending to be me. BOA told me the fraud case would be investigated and closed in 30 days maximum. Because the disputed amount was over $1,000, they couldn't temporarily refund me like they usually do with smaller fraud charges. Anyways, 30 days comes around and I called and they said by day 45 I would know, then they extended it to day 60 and then day 90. On day 106, I finally heard back from them and they DENIED my fraud claim. They said it was me. I asked them how they determined that conclusion and they said "the signature looked enough like mine that it was inclusive and they could not refund the money". That was the only thing- one scribbly line signature and a "fraud expert" said it was me. I am 22 and graduated college in May. It's the first time ever living on my own, paying rent and bills, not to mention my student loans. This sum of money was most of my savings. I was hysterical and asked what I could do next. The fraud specialist was an asshole and spoke to me as if I was a criminal trying to steal from BOA. I am so glad the call was recorded so that they can hear the names he called me over the phone. He told me I could dispute the conclusion of no fraud but it was very unlikely I would win. I went back to the police who helped me get my phone records, video footage of me at my apartment in a state other than Massachusetts, which I sent to BOA. I also sent my credit card purchases from that day and a letter from my professor stating that I was in class on April 10. Finally, on August 22, I revived a "courtesy call" from BOA saying that my case was proven to be fraud and my money would be refunded. There was no apology and no explanation for any of the mistakes along the way. If my parents weren't kind enough to help me with my rent and bills and loans while I was missing $X,XXX.XX amount of money, I would have lost my apartment and gotten late fees on bills and loans which would have effected my credit. I know I am lucky that my parents were willing and able to help me because other people are not that fortunate. I am also grateful that I was refunded the amount that was originally stolen. I am obviously leaving BOA. My question now is: is there anything I can do to report Bank of America? To receive extra compensation? I am so unhappy with this whole process and how I was treated. I had to create an Alibi to prove my money was stolen? I had to miss class to go to the police and leave work early to take phone calls. It was a long process. Someone told me I could be eligible for 4x the amount back, is that true? Someone else told me to report this case to the CFPB, would that do anything? Any and all suggestions would be greatly appreciated. Thank you [link] [comments]  |
| Insurance claims I owe 60000 for a minor surgery Posted: 26 Aug 2019 05:19 PM PDT Hi, Trying not to freak out, so I will try to explain my situation as calmly as possible. I had a small surgery last month (took 30 minutes, went home the same day) and I have insurance (city employee). I spoke with my doctor and their medical biller and was told I was fully covered. The surgery happened at a different location since the office was not equipped for surgery. I received an EOB today with a check for 2000 dollars. The next page says the location where I got the surgery was out of network (???). My insurance only paid the 2000 (hence the check) and I am responsible for the remainder $58000. I also just logged into my account online, and it shows everything was in-network but I am still somehow responsible for 58k according to the claim. Please advise, I cannot call my insurance because it is late in the day. Thank you. [link] [comments]  |
| Being smart with your money also means being smart about protecting it. Posted: 26 Aug 2019 02:52 PM PDT I hope this isn't seen as some sort of rule-breaking thread, but this is something that makes me shake my head every time I hear it and I want to set people straight. I work in IT, and through my interactions with people I often come to find out that people use one password. For everything. Five bank accounts? Mortgage? Student loans? Credit cards? All one password - and usually not a very good one. Then I take them to a website that lets them check to see if any of their usernames or passwords were part of any big data breaches, and quite often, they are. So here's the thing: use a password manager. Not only are most of them cheap (we're talking $2-3 a month), there are several good FREE options. Bitwarden andLastPass are two well regarded free programs. To be clear, I have no affiliation with either of these. Everyone always talks about how to structure their retirement savings, what order to pay of debts in, renting vs buying, etc. But rarely do I see people talk about how important it is to make sure that they're the only ones who have access to their accounts. Password managers are easy to use, they allow you to make sure each and every account has a drastically different and extremely secure password associated with it, and they'll save you a heck of a lot of headaches whenever a new data breach occurs. [link] [comments]  |
| Emergency fund - full salary or penny pinching? Posted: 26 Aug 2019 01:12 PM PDT Hi all, I've been working through the flow chart and just finished off my debt and am working on beefing up my emergency fund before flipping up to 15% on my 401k contribution. One thing that's always been a bit unclear to me is how much you are actually saving for a month of "expenses" with your emergency fund. Am I trying to start with several months of full salary, or more "pay rent and eat ramen"? If I lost my job I would stretch money far more than I am right now with the comfort of a stable, predictable income. I wouldn't attempt to live my current lifestyle if I lost a job. Should I really aim to have 3 months of full salary before upping my 401k contributions? [link] [comments]  |
| 21,151 CC Debt 22,000 Student Loan Debt just want advice Posted: 26 Aug 2019 02:40 AM PDT I'm really new to this as I have always read things on reddit but never posted and honestly I thought about making a fake name and account but at this point I care more about just venting and hearing advice than covering up my identity from others. Yes I am going to vent a lot here as I don't have really anyone to go to but it's the best way for me to just get out a lot of stress and hopefully somebody who does decide to read will share advice. I will also start by saying I accept fault for my situation as I know over the last decade I could of made better choices but I can't focus on the last several years of all my wrong choices but just use this platform to let out some emotions I've built up and to Just listen to any advice or criticism that I know o am deserving of. I find myself at 29, approaching 30, in such a hole that I no longer have many options left from what I can see beyond debt settlement or bankruptcy. I had a friend tell me to just stop paying on my credit card as that's what they did and wait for them to take me to court and just lawyer up and settle the debt as that would be the cheaper option than paying on this card with a high balance and extremely high interest rate, but I'm not sure just because that individual was successful that route that it would work for me even if I used his same lawyer. Honestly I have never missed a payment or had any negative marks on my credit since I have had my first card at 17 and now that I'm in such a hole financially I'm wondering if it would even matter or if it's worth keeping a "perfect credit history" not that my score has dropped all the way down to 590 and I can't afford to make my payments anymore. The thought of ruining my perfect credit history use to bother me but I have reached the point with bad choices that I can't afford to make the next payment and I know if I missed my student loan payment (which is fairly high but not as high as what I pay monthly for credit card) the consequences to me would be worse. I have tried to cover expenses for myself and my girl (as she has lost her job and hasn't been able to find work so it's just been my income covering us both) but at this point I feel like I have failed since it has been over a year since she had a job and I've just got into a deeper hole over this span of time. I don't intend to talk negatively either on her as well as this isn't what this post is about as I know she has tried to find work. We have one car and live with my sister in a small town with no work and the nearest jobs are roughly 20-40 minutes away and she isn't able to drive. I work 40 plus hours from Friday to Sunday with my job that's 48 minutes away that I've worked the last 8 years (that I intend to keep working as I am enrolled in a public service student loan forgiveness program) so most jobs don't even give her a call back because she isn't available to work during the weekend with my current work schedule (and no bus systems run from our city to the closets one with any jobs to apply for and the cost to Uber wouldn't make sense from how far we live) and I keep trying to apply for a second job to work Monday-Thursday part time or full time but no job will hire me it seems like for not being available to work on the weekend. I am a diabetic as well and I use to be able to work two jobs when i was younger a few years back but I find myself unable to stand for over a couple hours as the nerve pain in my feet has gotten so bad so I'm limited to what I search for in a second job as it can't be one involving standing and walking for long periods of time. I know that might just sound like an excuse or complaining but I'm sure any other diabetic can relate to this issue and I know my biggest reason for my nerve pain getting so bad is I haven't been able to afford my medications anymore. So back when I was able to work my current job and another at a retail location it was difficult but still manageable and I did it for awhile but that was years ago and I no longer have that ability. My car isn't dependable enough to do Uber or anything like that and constantly breaks down but I can't afford to buy a new one or even get a loan for one and luckily I own it so I don't have to make car payments (which I couldn't afford now). I feel bad like I'm suppose to be the provider for my girl and two dogs and just knowing the situation I'm facing has put me in such a low place emotionally. I fear I'll never be in a position to bring a child into this world and it kills me to even think that. So the financial side of things that I hope I can seek out even just any advice for, my current monthly income is roughly 1400 a month and after slashing every possible monthly expense I could only get things down to about 1350. Those monthly expenses include 200 a month I spend on gas for work, 60 for liability car insurance, 108 for my student loan, 50 for dog food, 60 for medications(I can't afford all my meds I need as a diabetic but I'm not even really able to afford this 60) 450 a month on my rent, and 450 on credit card minimum payments. These are the monthly expenses I can't cut and so that leaves me only $50 a month for groceries for 2 people, personal care (such as toiletries, deodorant, etc, car expenses (which are constant as I have a older vehicle that often has problems, and other random expenses that pop up such as doctor visits and dental work, vision needs (such as new glasses and eye exams). I have 21,151 in credit card debt and 22,000 in student loan debt and I just don't know what to do and I don't expect a hand out either of course that's why I have turned to making this post. I only seek advice such as what strategy to pursue (do I get a lawyer and go for bankruptcy or do what my friend succeeded with and just stop paying on my credit card and lawyer up when they look to take legal action and hope to settle?). I haven't felt this lost or torn on a matter in my life and everything has been spiraling downward out of control the last several months. I know some solutions would be "you should move somewhere closer to work" but I don't have the money in my bank to afford let deposits, first month rent, security deposits, and moving expenses. Thank you to anybody who can offer advice. I know many will be critical and have much to say, I don't want this to sound like I'm asking for money or looking for pity and trust me I accept fault for my poor decisions through the last couple years to get me into this situation. Grateful for the words of wisdom from all the minds that come across this post. Thank you for listening. [link] [comments]  |
| Should I pay off my car? 7.5k @2.5%, planning on buying property in <2 years. Posted: 26 Aug 2019 08:53 AM PDT I have 7.5k left on my car loan @2.5%, monthly payments are $450 (~18months left). I'm planning on buying a place in the next 18-24 months or so, wondering if it's more savvy to pay off the car loan now, or keep making minimum payments since the rate is pretty low. $300 left in interest payments doesn't seem like a lot, but paying it off would leave me an extra $450/m to save for a down payment. 18 months @$450/m would net me more than $7.5k, especially in my HYSA. Am I missing something here? [link] [comments]  |
| Landlord wants to buy out newly signed lease. Posted: 26 Aug 2019 04:44 PM PDT We live on a double lot and the landlord is selling the front unit. We texted our landlord today asking for a sign to designate or yard after a real estate agent and couple looking at said front house came into our yard. He responded asking if we would consider moving for some amount of money. We live in a great location, currently pay $1675 for a 2/2, and have 22 months left on our lease. We have been actively paying off debt to be at 0 by the end of this year so we could aggressively save next year to buy at the end of our lease. What would be an appropriate amount to negotiate? [link] [comments]  |
| I'm gonna lose my job and husband had just quit a week earlier Posted: 26 Aug 2019 07:08 PM PDT I was dealt with a blow last Friday. My position was suddenly made redundant- they decided not to renew my contract as they are downsizing and the department is gonna move to a new management. Whether or not the new management will offer new contracts to my other colleagues is another thing. My contract just so happen to fall at the end of the year so they decided to just cut me instead of renewing. It would be my fourth year once this ends. I'm really at a loss losing this job as it was perfect for me and in an industry which is stable(healthcare). I'm a lab chemist by the way making ~60K annually. To make things worse, my husband left his job just a week earlier and we have a 6 month old. The baby is not too much of a problem since due to low fertility rate in my country, she is well subsidized in daycare and has $3k in cash and about $9k for daycare expenses($520/month) as part of baby bonus. Its our mortgage and insurance expenses that are worrying me. We have about $35k in savings at the moment. Mortgage: $1400/month Combine insurance: $978 Food/ water/ electric bills- About $600 I'm really demotivated to look for jobs now as well although I have been sending out my resumes. The other problem is I have to work till the end of my contract-20 Dec so that I can get my cash bonus which amounts to 3 months of salary. If I were to resign before that I don't get it at all. [link] [comments]  |
| I was robbed and they stole and wrecked a car that was renting. What do I do? Posted: 26 Aug 2019 04:11 PM PDT On Friday I was robbed of almost everything that was worth stealing while I was asleep in my bed. My personal car was in the auto shop getting repaired so they gave me a loaner car for a day or two. This was a brand new 2019 car with fewer than 1000 miles on it. I only have liability coverage on my car and that is the insurance they want to use. I signed an agreement that holds me accountable even under theft I was not made aware of this). The dealership/auto store is sending me the bill for the repairs, loss of revenue, etc. The lord knows that my emergency fund can't handle a 15k-30k payment. Is there anything I can do? Between the robbery, this bill, my student loan, etc I am worried about losing my house and already have lost most things that I own. Edit: I do have home owner's insurance so that should at least be paid out. [link] [comments]  |
| Posted: 26 Aug 2019 01:36 PM PDT My fiance will be moving in with me soon, and I'd like to know where I can and should personally trim back before then. For context, I am a mid 30sF living in a medium cost-of-living location in the US. I have no kids but hope to start a family in the next couple of years. My car is paid off but was just in an accident where it may be totaled, so I hope to use the insurance payout as a downpayment and keep the monthly payment around $250-275 per month. I contribute 10% to my 401k; my job contributes 6% and pays for my cell phone and health insurance. I have $13K in a savings account and $7K in an investment account. Thanks! Monthly income $6000 ROTH $500 Mortgage $1062 Groceries $300 TV & Internet $93 Utilities (gas, electric, water, trash) $185 Gym $10 Student loans $648 Fuel $60 Security system $35 Charitable giving $166 Professional dues $45 House cleaning $70 Doctor & pharmacy $92 Dining out $300 Entertainment $100 Hobbies $125 I have a few sinking funds that I contribute to each month: Personal care (toiletries, makeup, haircuts) $68 Miscellaneous (gifts, dry cleaning, yearly subscriptions) $179 Pets (vet, boarding, food and supplies, microchip) $95 Home & Auto (car insurance, car maintenance, car registration, home maintenance, lawn care, pest control, etc) $461 This leaves me with $1,406. I usually make an additional $652 payment to my student loans [for a total $1300/month to loans], which leaves me with $754 per month for additional savings, vacations, etc. Edited to correct a couple amounts. [link] [comments]  |
| Posted: 26 Aug 2019 05:17 PM PDT Just graduated school and got a car loan at 7.1%. Credit is in low 700s. Income will be 140k ish. I've only made one payment but was planning on shopping around this week for a new loan. Should I wait a few more months to get a good loan or will I be able to get a good one this week? [link] [comments]  |
| Posted: 26 Aug 2019 05:15 PM PDT I got a speeding ticket in January that turned into a suspended license. The ticket is 460$, reinstating my license will be 100$ plus some other fees to get a new physical copy of a license. With bills and monthly expenses, I can't come up with 600$ at once, it would take months of savings. I don't feel comfortable driving around with a suspended license for that long, and my parents suggested getting a loan. I don't have a bank account (I had a teen account and just haven't opened a new bank account since the last one closed) would getting a loan be a good idea to pay off the ticket? Would I be able to get a loan that I pay monthly on with a bank? How would this affect my (currently at a zero) credit score? I just want to get this taken care of without getting my license suspended for a year, putting myself into a debt I can't afford, or destroying my credit. [link] [comments]  |
| Posted: 26 Aug 2019 03:57 PM PDT My current mortgage is 30 year fixed at 5.25%. I am currently six months in. $300,000 loan. Lender offering to refinance to 27 year fixed at 3.5% for $10,000 in closing costs rolled into the loan. $200 less a month than my current monthly payment. Please let me know what you think. Thanks. [link] [comments]  |
| Small Inherited IRA, invest or spend on home improvements? Posted: 26 Aug 2019 08:27 PM PDT I'm going to get a small $3.5k (U.S.) retirement account through a deceased family member. I can take it tax free as an inherited IRA that I can't touch until I retire, or take cash at 20% tax penalty now. If I take the cash, I'll use it to redo a bathroom which I hope can earn at least a little ROI when I sell my home in the next 5 years. [link] [comments]  |
| Posted: 26 Aug 2019 07:22 AM PDT Started a full-time job in January of this year. Health insurance is a HDHP, so I opened an HSA with HSA Bank, the HSA provider my employer told me to use. I'm maxing out my contribution this year at $3,500. I figured out that HSA Bank charges a monthly service fee of $2.50, which is only waived once your account balance exceeds $4,999.99. The fee is small, but I don't need it eating my health savings. Should I deposit the remaining ~$1,530 (adjusted for 2018's monthly service fees) on January 1st? I'm young and healthy, so I wasn't planning on contributing to my HSA next year. I have an emergency fund of 6 months' income in an HYSA, plus another ~3 months' income in more easily accessible savings accounts, and no debt. I can easily move $1,530 into my HSA and then focus on rebuilding that in my savings. No debt. Is there another HSA provider who doesn't charge a monthly fee for low balances? Is it possible to switch even though my employer participates with HSA Bank? Is my HSA tied to my specific HDHP, so I can't switch? I'm a fairly recent college graduate, so I'm very new to this. First time off my parents' health insurance plan. Thanks for your help! Edit: Based on your advice, I plan to stick with HSA Bank and contribute at least $1,600 next year through payroll deductions to stop the fee while still getting payroll tax benefits. Thank you all! I enjoy learning from this sub every day. [link] [comments]  |
| What would you do? Should I look for a new job? Posted: 26 Aug 2019 01:19 PM PDT My boyfriend and I recently bought our house (in May). In order to find a good sized, in good shape house with property taxes less than $8,000+ we had to move a bit more rural. We found an almost perfect house with a bonus garage that we weren't even asking for in our home search! The downside of this house is that it put me from a 15 minute commute to a 55 minute commute. I didn't think this would bother me since I typically like driving, but 3 months later I'm starting to really DESPISE my commute to the point that it's making me hate my job. I'm so miserable, I've never called out before moving to the new house but lately I've been calling out at least once a month. (PTO/sick days). The company does bonuses in December, and I'm due for a bonus that I'm guessing will be over $1,000. I feel like I need to stay at this job at least until I get the bonus, but at the same time if I can be saving gas money (and sanity) would it be worth it to forfeit that bonus? There's the potential that if I get a job at my boyfriends new work he can get a referral bonus of $2,000 after me being there for 90 days. The only reason I think my bonus could be $1,000+ is because coworkers have suggested that the company is very generous with bonuses. Last year I was here for 3 months so not eligible for a merit bonus and still got $250 just for Christmas bonus. Would I be stupid to walk away from a guaranteed bonus of an unknown amount? EDIT thanks everyone for your help! I'm going to apply for the job at my boyfriends company and see what happens. Fingers crossed! [link] [comments]  |
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