Personal Finance Rent vs Buy Spreadsheet - Extensive Model |
- Rent vs Buy Spreadsheet - Extensive Model
- SOS what to do when my grandma has been giving away money and information to scammers
- Should I start a retirement fund at 18
- $15 an hour enough for rent and living in Charlotte or Raleigh/Durham by myself?
- How much does it cost to create/maintain a LLC without any revenue?
- Do I Deserve a Raise? Biotech
- College student created a 'secret' bank account to protect money, would that secret come out when parents file taxes?
- What is a good amount to have in a savings account for a pet, if you also have pet insurance?
- Over paid Capital One CC, asked for a refund and they said no
- Mom died in April, I was an authorized user on her credit card. Account got closed in August, since then I've gotten 4 late payments for $1,332 past due / $8,644 balance
- What are some good growth stock mutual funds?
- Contributing to both employed and self-employed 401k
- I am a junior in college. Best investment tool to put away $10,000 now and continue contributing?
- Citi Bank has trapped $15000 of my money. Please help.
- Equitable way for a sibling to pay you back? start an apr?
- Repair vs replace car?
- BoA fraudulent charges
- Car driven by movers for over 800 miles. What would be a fair compensation?
- How long hold money in checking account for purchase in June? (NJ)
- Has anyone had luck with a Goodwill Letter?
- Do any of you have experience getting a VA Loan with Huntington?
- Contribute to Retirement account to reduce federal tax liability.
- Transferred personal loan to CC except they blocked it and now I'm out $1500
| Rent vs Buy Spreadsheet - Extensive Model Posted: 07 Dec 2019 09:25 AM PST This is one of the better calculators I've come across: https://spreadsheetsolving.com/2019-update-house-rent-vs-buy-irr-spreadsheet/ However, I've made a few of my own tweaks to include the opportunity cost of investing the amount that otherwise would have been spent upfront on the home purchase. I've also included a Present Value benefit/loss of owning vs renting (instead of the IRR output). My Google Sheets File (make a copy or download to edit): https://docs.google.com/spreadsheets/d/1TG-C6kET596Mrz3BY4VNXuCXl32EOhYkPVZOLV9DKP0/edit?usp=sharing Can this be more extensive or thorough? Any mistakes or room for improvement? Please let me know what you guys think! Edit: This post is blowing up, thank you for all your feedback! I'll be sure to answer all your questions. Let's make this the best rent vs buy calculator out there! [link] [comments]  |
| SOS what to do when my grandma has been giving away money and information to scammers Posted: 07 Dec 2019 05:39 PM PST My family and I are completely floored and it's been an emotional day so I apologize ahead of time for what may be a rant. Here is what I know: My grandma has been communicating with someone since at least November and maybe a couple years she met on words with friends. He convinced her to give away photos of her credit card, her license, photos, and possibly thousands of dollars. She has had the bank contacting her regarding fraudulent charges and she's been dismissive of them which raised suspicions. After seeing a message on her phone saying "baby i need you to do something on instacoin for me" I snooped and pulled my aunt into the situation at family dinner. It was gut wrenching and horrible. What we saw is: Photos of her credit card Photos of her license Requests for Apple cards Requests for bitcoin Requests for instacoin And multiple calls from what may be fraudulent TDcard numbers requesting social security and date of birth information. My question is what do we do from here? I have canceled her credit card and she's very resistant to going to authorities, can I do this alone (she thinks they have a romantic relationship)? How do find I out how much he's taken? Thank you in advance for any support. [link] [comments]  |
| Should I start a retirement fund at 18 Posted: 07 Dec 2019 02:12 PM PST Well I just finished first semester of community college and I didnt know if I should start investing in a roth IRA or a mutual fund or stocks to make a retirement fund. I make about 1000 a month, and I have only 200 dollars in expenses since I still live with my parents. Thoughts? [link] [comments]  |
| $15 an hour enough for rent and living in Charlotte or Raleigh/Durham by myself? Posted: 07 Dec 2019 07:52 AM PST I graduated this week and I'm looking to relocate to NC for IT work. Think I could get something over $15, but its my first IT job so maybe not. I see jobs offering less. I see studios for as low as $800 and even lower if farther out of town. I have no student debt (or any debt) or car payments currently. I have health costs that cost me about $1,000 - 1,500 a year and my health insurance currently cost $150 a month. I have about 6K in the bank, been saving for this move. I just dont want to move to a new city for a job that barely pays enough to pay rent. I hope to make more then $15, but I may need to just take something to get my foot in the door. thoughts on this? is it doable? I know someone making $15 in Denver who accumulating debt. I know CoL is better in NC, but it does make me nervous. I just feel like I need to make at least $17, but see a lot of jobs wanting to pay $15 or $16 for entry level. Manly looking for feedback on the financial feasibility of living in these cities in a studio apartment making as low as $15. I know that there are options like finding roommates, but I'm trying to figure out if I'd be just scraping by on $15 by myself. [link] [comments]  |
| How much does it cost to create/maintain a LLC without any revenue? Posted: 07 Dec 2019 02:12 PM PST I'm thinking about creating a LLC as a vehicle for a few passion projects I've been working on. A lot of them have sporadic low revenue (<$500) but I'm thinking about doing it just to be able to have a business entity name, address that is not my home, to "employ" myself in circumstances where I don't want to disclose my employer and to limit the amount of personal liability I may incur in force majeur circumstances. Other than the filing fee, what are the maintenance duties and tax costs of just owning a LLC? Would I be able to file a tax return myself pretty easily or does this require an accountant (which I don't use right now)? [link] [comments]  |
| Posted: 07 Dec 2019 07:58 PM PST So I'm about to receive a promotion after 7 months in the job (Cambridge, MA area Biotech company). I'm a contractor and they're looking to extend my contract another year. I get no benefits and currently work as the only requsitioner in my department. My current job entails:
My boss wants to turn me into program manager, which means that I'll be:
Should I ask for a raise? I make $34.5/hr so I was thinking of $37.50. Does that seem fair? Thank you in advance! [link] [comments]  |
| Posted: 07 Dec 2019 04:07 PM PST So I'm young and don't really know how 'doing taxes' works, but my parents have an accountant who takes care of that at the end of each year. I have one account that my parents are on (it's linked to the account they pay for my college through). They have a history of being controlling (obsessively) and a comment one of my siblings made got me worried that my parents may take money from me or guilt me (they never actually have taken anything though).. So when I started picking up odd jobs here and there, I made a new account at another bank for the money to go into. As they knew that I was working, I still had a portion of the income going into the account they had access to. I'm just worried that they may find out about the separate account when they get the taxes done this year?? [link] [comments]  |
| What is a good amount to have in a savings account for a pet, if you also have pet insurance? Posted: 07 Dec 2019 07:42 AM PST I have a fairly healthy cat (allbeit a bit chubby) who besides teeth cleanings hasn't had any big medical costs thus far. But I want to stay on the safe side if anything big were to ever come up - I don't want money to have to be a big factor when deciding on any medical procedures for her as she gets older. I pay $30 a month for pet insurance currently and also have a savings account with about $1000 stashed away. Is this enough of a rainy day fund for one cat? This is the first pet I've been financially responsible for so I don't have a great idea of how much veterinary care can really run someone these days. Edit: I also want to clarify that isn't my only savings - but it is the savings I have earmarked especially for big pet care expenses such as vet costs. [link] [comments]  |
| Over paid Capital One CC, asked for a refund and they said no Posted: 07 Dec 2019 07:45 AM PST I accidentally paid 1k into my Capital One credit card, I meant to make a $100 payment. Noticing this I called my bank and they said they cant cancel the payment due to it being posted. I called capital one and the person on the phone said "capital one does not issue refunds". I'm assuming that's a lie? How do I go about getting my money back? [link] [comments]  |
| Posted: 07 Dec 2019 05:50 PM PST I'm 18 years old, and my mom died earlier this year (April 19th) to colorectal cancer. About a year or two ago, she put me as an authorized user on her "JPMCB flexibile spending credit card", which I would use whenever I ran to the grocery store for her or whatever. I thought my dad handled closing all of her accounts after she died, but then I downloaded Credit Karma myself, and I noticed that I had 4 late payments, all on this card, which has the following info: Responsibility: Authorized User Account Status: Closed (closed Aug 04, 2019; "Canceled by credit grantor") Payment Status: 120-149 Days Late Balance: $8,644 Amount Past Due: $1,332 Date of Last Payment: May 03, 2019 Last Reported: Nov 05, 2019 From the looks of things, I'm probably going to get hit with a 5th late payment as soon as this updates in a few days. I'm really confused about this, and it's affected my credit score greatly. What exactly am I responsible for? Is there anything I can do about the late payments? What's the difference between the $8644 and $1332 amounts? Thank you for your help. I'm really confused and don't fully understand how this stuff works. [link] [comments]  |
| What are some good growth stock mutual funds? Posted: 07 Dec 2019 05:45 PM PST I've been listening to Uncle Dave and he advised we invest in Growth Stock mutual funds. I have a 401k and a Roth with Wealthfront and could use some advice if this breakdown is wise. 401k breakdown: RETIREMENT 2050 FUND 46.7% VANGUARD EXTENDED MKT INDEX 7.9% [link] [comments]  |
| Contributing to both employed and self-employed 401k Posted: 07 Dec 2019 05:44 PM PST I will be a physician, and will have a very high tax burden. I know I can deduct $19000 maximum from my employer 401k contribution. I also know that self-employed individuals can contribute up to $55000 or $25% of AGI to that IRA. If I have a regular job, and also hold a side business where I am self employed, can I max out my contributions to $55000 instead of just $19000? Is the 25% AGI based only on my side business income (which I"m only planning for a couple grand), or my total income? [link] [comments]  |
| I am a junior in college. Best investment tool to put away $10,000 now and continue contributing? Posted: 07 Dec 2019 01:15 PM PST Hey guys, I am looking for a little advice about investing. Recently, I started making more money than I am used to having due to an internship. I would like to know what account you guys think I should open to put away about $10k now and continue to contribute to that account as I finish college (3 semesters left) and progress into my career. The account does not need to be liquid as I am planning on holding money available for spending separately in a savings account. So far, I have mainly considered 2 options. I am leaning toward the second: 1) Permanent Life Insurance: I currently work for a large insurance company and am Life and Health licensed. This means that if I bought a whole life policy on myself to use for cash accumulation, I would receive all of the commission. The company's whole life insurance is pretty solid relative to other firms' products. I am also able to broker policies through numerous other companies, so I could do that if a different one had an advantage. 2) Roth IRA: I do not know nearly as much about this product as I do about the insurance world. I am aware that it offers tax advantages, and most people involved in finance seem to agree that it is the way to go for safe savings and growth. I am leaning toward using a Roth, mainly just because most people say it's the smart thing to do (lol - trying to learn). That being said, please let me know what you guys think about these 2 options and also anything else you feel like I should look into. I know that holding onto cash you know you won't spend in the foreseeable future is an awful idea, so I really want to make this money work in the best way possible. Thanks! [link] [comments]  |
| Citi Bank has trapped $15000 of my money. Please help. Posted: 07 Dec 2019 01:00 PM PST Hello, In the beginning October I attempted to open a Citibank checking and saving account due to their attractive bonus. I funded the savings account with $15025 that was required with the intent to place $25 to the checking to meet the requirements. Weeks after the opening the account I never heard from them. I then called and they stated there was a block on my account but that it was a mistake and would be removed. Another week went by and I called again and was told there was still the hold but it was no mistake and it was due to the need to verify my identity. Made sense to me thus far but I was a little confused why they never sent me any email or mail correspondence regarding the hold. I finally get an email about fulfilling their verfication forms. I do so promptly. Now it has been two months since placing those forms in and over 20 phone calls to Citi Bank and each time I call or speak to a manager they tell me there is a block but they are unsure why or sometimes they tell me it is because they still need to verify me. I state I put in the forms and they tell me they can see that but it is the 'back office' who must review them. It has been 2 months of this 'back office' never getting back to any of the emails the supervisors send on my behalf. Three weeks ago I ask to close the account since I just want my money back but was told it is this 'same back office' who processes this request. I have attempted to transfer the money out of my accounts via external transfer to the same bank I funded it from but each time it gets rejected. So right now I feel as though my money is trapped in Citi Bank. There is no physical branch near me for me to speak with someone in person either. This all seems mildly illegal to me and I am unsure what means I should and can take. It is $15000 dollars I will eventually need to use to pay bills and would like access to use. I cannot fully open the account, close the account or transfer the money. Any help or insight anyone can provide would be greatly appreciated. [link] [comments]  |
| Equitable way for a sibling to pay you back? start an apr? Posted: 07 Dec 2019 01:33 PM PST My brother and I co-owned a rental property for about 12 years together, and last year we finally sold it. I was always a silent partner and just basically gave my bro capital to put down on the house and he covered all operating expenses, taxes and any negative cash flow issues over the years. We sold the house last year, made a profit and he decided he wanted to avoid capital gains and did a 1031 exchange into 2 properties closer to him a few states away. After hiring a forensic accountant to go back through everything it is finally decided that I am owed about 30k (after him deducting capital gains tax.) He is starting to pay me about $500 a month (roughly 5 years to pay me back) , I don't believe he is struggling financially as he and his wife have one child and both work but here is where the water gets muddied. I have some outstanding credit card debt and I may be leaving my full time job to go back to school so a chunk of change now would be way better than getting it back over 5 years. Should I ask to start running a reasonable APR on this to "help" him to speed it up? Should I adjust for inflation at a small % a year? I know it comes down to not letting money get it the way of family and I believe this, but I feel like my bro is getting an interest free loan from me for 30k and I no longer have much say in the matter. Anyone out there think of an equitable and fair solution? [link] [comments]  |
| Posted: 07 Dec 2019 07:37 AM PST I've sunk so much money in to fixing this stupid lemon of a car. And now something else needs to be repaired. Probably going to be another $1-3k. Or I could just get whatever trade in value I can and get a newer (certified pre-owned non-lemon) car, for $8-10k. At what point should I repair vs replace? [link] [comments]  |
| Posted: 07 Dec 2019 05:02 AM PST We're having an issue with Bank of America I could use a little help with. Thursday my husband got a call that there were some possibly fraudulent charges on his debit card. They were in fact fraudulent and he reported them as such. The debit card in question has never been used anywhere but at a BoA ATM, and not there recently. He doesn't carry it in his wallet, and we do still have possession of it. The charges were in a different state than we live in and did not involve the use of his PIN (I'm not sure if it was chip or swipe). The amount of the charges was ~$2500. The next day, I got a message that our BoA card on which he is an authorized user also had fraudulent charges. Based on the charges, it is clearly the same thief. These charges added up to about another $3500. Again, we both have possession of our credit cards and that card is stored in both of our wallets, not in the place in the house that the debit card was in. This card we do use often, both online and in person. I don't know if the charges were chip or swipe. I called Bank of America after reporting the charges fraudulent to make sure they understood that the problems spanned multiple accounts with them (and that they were by far the most likely source of the breach based on the history of the debit card and the fact of multiple accounts). We wanted to escalate since this was clearly not garden variety fraud. I also wanted to replace my debit card, and to give us ATM only cards for the account. Their fraud department is completely unhelpful, and basically refused to do anything. They told me I would have to pay for a new debit card (since there was no fraud on it, only on my husband's card), and that if we had a checking account, a debit card was mandatory. The debit card fraud people are unable to look into credit card fraud (and vice versa), so it's not clear if the fact that someone stole two card numbers from us will ever be noticed by BOA. We then went to a branch that was similarly unhelpful but assured us we would have the money back into our checking account by tomorrow. This morning, not only did one of the fraudulent checking account charges clear while the other is still pending, but my husband got an email that we closed his claim. So we are currently out $2500. We tried to call the fraud department, but they aren't open on the weekends (which WTF?). We plan to see what they can find out about when the fraud claim was closed and who they talked to (I'm hopeful it was a mistake by the incompetent fraud specialist I talked to about my card). We can't freeze the account right now because it's our main checking account, and we have bills on autopay and stuff to come out. We are also about to head out of the country for a week. When we get back, we'll obviously get rid of Bank of America once we get our money back. But up until then, what can we do to protect ourselves? Both the new debit and credit card cannot be locked because they haven't been activated and they seemed to be unable to just not send us a new card for a week. I did lock my debit card so it cannot be used. I put a password on the account as well when people call in. I confirmed that no one other than us has logged into our accounts recently, and we both changed our passwords anyway, just in case. Is there anything else we should do? [link] [comments]  |
| Car driven by movers for over 800 miles. What would be a fair compensation? Posted: 07 Dec 2019 07:32 PM PST My employer is helping me with relocation. They arranged for a car moving company to move my car a distance of roughly 800 miles. My employer paid them directly. I took pictures of the odometer before handing over the keys and when receiving the car (6 days later). There was difference of roughly 800 miles. There is other evidence like the seats are dirty, fuel level is higher and oil life is lower than when I left it. The moving company has offered a full detail, 30k mile service at the dealer, and $500 as compensation. I need help deciding if this a fair offer. I feel like they should also be refunding their service fee as the actual service was not performed. Is there anything else I should consider. Please help! [link] [comments]  |
| How long hold money in checking account for purchase in June? (NJ) Posted: 07 Dec 2019 09:14 AM PST In June 2019 I bought an item online (approx. $200) for in store pickup. I picked up the item that same day. I kept receiving email notices to pick it up, but I ignored them because I'd already picked it up. I next received notice that the transaction had been cancelled & the money returned to my checking account (which it had been). I called the retailer's customer service & advised them that in fact, I had picked up the item and had it in my possession. They looked into it and notified the store that the store would have to redo the transaction on their end. There has been no subsequent follow up from the store with me about this charge, nor has my account been charged for this purchase. I've left the money sitting in my account just in case someone notices they never got paid for the item they gave me. However, my bank is charging new account fees and I'd like to close it, but don't want any issues if this transaction suddenly comes back to life and charges my closed account. It's been 6 months. How far back do retailers typically look to correct such errors? [link] [comments]  |
| Has anyone had luck with a Goodwill Letter? Posted: 07 Dec 2019 09:57 AM PST I hope this is the right sub for this. In the nearly 10 years I've had credit cards, I have never had a late payment. My credit score is 750. I have everything set up on automatic withdrawal. Last month my automatic payment didn't happen (I have no idea why) and a check written by my mother (she owed me money for something I had used my credit card for, so we wrote it directly for that) that I mailed never arrived. My credit score dropped nearly 100 points and I now have a bad mark on it. I am hoping to send a Goodwill Letter and have it removed. It's a larger credit union. Any advice? [link] [comments]  |
| Do any of you have experience getting a VA Loan with Huntington? Posted: 07 Dec 2019 06:39 PM PST I was approved but my realtor said that they are known to drop the ball on underwriting these types of loans. [link] [comments]  |
| Contribute to Retirement account to reduce federal tax liability. Posted: 07 Dec 2019 10:22 AM PST My wife and I are both 74 and fully retired. We draw down on our accounts per federal requirements. Because I don't deduct enough on our revenue, I owe over $1000 each year, plus a penalty. In oder to reduce our income on tax return, thus reducing amount owed in taxes, I wondered if making a deposit back into our retirement account, which reduces our income, makes sense. We could easily deposit $10, 000 to $15,000 annually. [link] [comments]  |
| Transferred personal loan to CC except they blocked it and now I'm out $1500 Posted: 07 Dec 2019 10:50 AM PST My GF had about 7000 in personal loan debt she was paying on and in an attempt to save her money on interest we opened a balance transfer card through amex to transfer 1500 from the loan to the credit card. The bank the personal loan is through does not accept any type of transfer for a personal loan and we did not know this ahead of time. Long story short Suncoast(the bank) denied the transfer but AMEX (the cc) states they transferred the money and its our obligation. So now we still owe 7k on the personal loan and now owe an additional 1500 on the amex for no reason other than incompetence. Each bank blames the other. What can we do? [link] [comments]  |
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