Personal Finance Fiancé committed suicide, didn’t leave a will or a note. |
- Fiancé committed suicide, didn’t leave a will or a note.
- My friend asked me for a $50k favor
- Borrowed $40,000 and paid it back within 6 weeks. Tax implications?
- For those of us feeling a lot of regret about not timing our lives just perfectly.. a note about counterfactuals.
- My unsubsidized student loans just randomly got removed from my credit profile
- Employer just told me I have to file as independent contractor instead of normal employee. I'm super confused and inexperienced, not sure what to do for taxes.
- Wedding venue is in bankruptcy and liquidation. Good chance of successfully disputing what we've paid so far on our credit card?
- HOWTO: Automatically import Mint.com transactions to Google Sheet
- How to get in to stocks? How to get started?
- My mother in law is in risk of getting leans on her home and wants to transfer the title to my husband.
- My insurance changed and now I have a $190 bill.
- Would I be spending too much on rent?
- My roommate/ older brother is really bad with money. I am pretty good and would like to help. How should I approach him to let me into his finances?
- I was drugged last night and spent $400 on a bottle, what are my options?
- Emergency Fund vs Credit Card debt
- Reducing our yearly federal tax payment
- I need some help, i'm 24, passionate about finance but with a high school diploma only, i'm planning my life but i have different routes i could try to take
- Work outside US- taxes?
- Am I making a sound decision? (Car Purchase)
- How much money should I be saving at a young age?
- Pay off student loans lump sum, or keep paying monthly?
- first time having two jobs- tax question
- Overseas inheritance
- First time filing Tax returns - Income Tax / Return
| Fiancé committed suicide, didn’t leave a will or a note. Posted: 08 Feb 2020 03:42 PM PST My (f35) fiancé (m35) committed suicide two weeks ago. We lived together for years but maintained separate finances. We had no kids and our house, bills, etc are in my name. As far as the house and bills go, everything is taken care of. His family and I want to make sure all his personal bills, credit cards, taxes etc are taken of but we don't have access to any of his accounts. He did everything online. How do we go about finding out what credit cards, bank accounts, retirement accounts he had? I realize most of this will have to be done by his family because we weren't technically married yet, but I'd like to have some direction as far next steps are concerned. Any advice on what we/they should do next? [link] [comments]  |
| My friend asked me for a $50k favor Posted: 07 Feb 2020 09:09 PM PST I've got a friend who texted me this morning asking if I could do her a favor. She wanted to withdraw $50k from her IRA but can't use it to invest. She can, however, "loan" it to someone so she asked if she could "loan" it to me, we'd sign a promissory note, then I'd deposit the check into my account, and then turn around and write her a check for $50k so she can invest it in something else. I already told her no cuz it sounds shady af but I'm curious of the legalities behind this. 1) is this just a loophole or illegal; 2) if I deposited $50k into my account, doesn't anything over $10k get flagged by the IRS; and 3) is this low key money laundering?? I asked her what I'd get out of it and she said "absolutely nothing. You're doing me a favor." Umm. Ok. Then, no thanks." [link] [comments]  |
| Borrowed $40,000 and paid it back within 6 weeks. Tax implications? Posted: 08 Feb 2020 11:50 AM PST My husband and I were buying a house contingent on the sale of our house. We had a buyer but they required a longer closing period then we were permitted with the contract on the house we were buying. We were $40,000 short on our down payment and borrowed it from my father-in-law. We paid him back as soon as our house was sold. What implications does this have for tax purposes? This all occurred in July-August so it was within the same fiscal year. [link] [comments]  |
| Posted: 08 Feb 2020 07:21 PM PST As I've been combing through posts here, I've been reading a lot of regret and "if I had only done x on (insert perfect timing), things would have worked out a lot better". People wish they had bought houses just before the boom, etc. This, my friends, while true in a sense, is a pretty common -and not very helpful- error in reasoning. It's the classic counterfactual - you can't know what the future holds, and while you might learn something from thinking about the past, you can't be 100% certain that your preferred change in it would result in what you wanted. The housing market could've crashed, we could've entered a 20-year depression, x dictator could have won the war, whatever - it's easy to go back and say if a particular condition or situation changed or was carried out a particular way, things would have gone differently. You might be right, but really, you can't know this. I kick myself all the time about not getting apple and then google stock, which my fricking tech teacher in high school told us to do basically every day at the end of class - ipod hadn't even come out yet (the ipod had by the time she was saying google too, a couple years later or something). I told my parents, they never looked into it... But these companies might have fizzled out. What if she had told us to buy netscape? Then I kicked myself because I didn't get a house in the other province I went to school in - could've saved on all that rent etc., at the time, nevermind the sale price. It would have been a handsome sum... But that province is known for huge swings in economy, and I wasn't really ready to be a landlord anyways. Lately, and this is a good one I kick myself because a buddy of mine worked on the core team for Ethereum, and even gave me a slip for ~2 ETH (unit of ethereum) on the house and told me to buy in early (I think it was about 80 cents a piece at that time, in 2015). I lost that slip, didn't think anything of it. At one point that stupid slip was worth 2k and had I dropped even 1K into ETH back then.. well.. things would have been different.. But ETH could have crashed right out, and I'd of felt stupid for throwing a 1000 bucks on internet chucky cheese tokens. The opposite can be true too.. I went ahead and bought pot stocks a few years ago, and tried to sell mine at literally 10 cents above the peak that my stock achieved (would have made 6X).... and now it's borderline worthless. If only I had made it 10 cents less.. lol.. We can all list our huge failures, and tell ourselves this and that.. and likewise, for those of us who happened to make the right call at the right time, we tend to over emphasize our skill vs our luck, by a large margin. What I'd like to suggest, for all these mountain of posts, is that we take a minute and appreciate how much luck has to do with these decisions. It's still worth it to pay attention, and it's still worth it to try new things and try to grow (because otherwise, you don't create a whole lot of opportunity for luck!), but I'm not sure how much the continual collective kicking ourselves is going to do us any good. There's a balance between being grateful for what you have, being proud of how hard you worked, and striving to do better. It's a tricky one! [link] [comments]  |
| My unsubsidized student loans just randomly got removed from my credit profile Posted: 08 Feb 2020 05:42 PM PST I'm not sure what happened. My student loans are still linked with Navient but randomly my unsubsidized loans just disappeared from my credit profile. I'm not sure why. Has this happened to anyone else? [link] [comments]  |
| Posted: 08 Feb 2020 01:38 PM PST I'm a student who interned over the summer at a small startup company with a questionable CEO/boss. I worked restaurant jobs and another internship in the past, so I know the bare minimum of: 1) I gotta file my taxes, and 2) just follow whatever TurboTax tells me to do, like upload my W2 that my employers send by end of January. It's February and I haven't gotten my W2, so I ask my boss if he can send it over, but he says I need to fill a W9 because I'm a contractor not an employee. I have no idea what this means, but it seems that I'll need to pay more in taxes because I pay it myself instead of my employer withholding income. I feel like my employer was purposely misleading me because I'm a student with little knowledge and experience. I only got paid around the minimum wage, but my payment seemed to be below the hourly wage I was supposed to get so I always assumed it was due to the tax being withheld. I feel so dumb, and I was really counting on the tax refund to help pay for some of my living costs and now it seems I'll have to pay instead. :( What should I do? [link] [comments]  |
| Posted: 08 Feb 2020 02:42 PM PST We had a date for September for a wedding at a Noah's Event venue. Well apparently all Noah's Events are shutdown as of yesterday because the company entered liquidation. I made the down payment back in July 2019 and monthly payments since then on a credit card and I've been paying those balances fully. About $4k so far. As the company is now in liquidation, they won't be able to provide the service we've been paying for. I've contacted my credit card and they told me to get some more information regarding the liquidation of the venue and to send it all in to their dispute center. I see no reason why I shouldn't be able to get the money back in some way, but maybe I'm being naive? Does the fact that the company is in liquidation change that story in anyway? We've started looking for new venues, but I'd hate to find and pick a new venue only to find out that we won't be getting back the original payments. I guess I'm just wondering if a similar situation has happened to others here or if anyone has a deeper knowledge about how credit card disputes work. The credit cards are Chase Ink Business Preferred and Barclays Arrival + Edit: I made the down payment and monthly payments on the credit card, if that wasn't clear . [link] [comments]  |
| HOWTO: Automatically import Mint.com transactions to Google Sheet Posted: 08 Feb 2020 07:42 AM PST I admit it's not fully automatic because it requires 2 clicks. Steps to import mint.com after set up (instruction on howto set up is below): Instructions for initial setup: and save. screenshot: https://i.imgur.com/rkxrWmm.png That's it! Once set up, you only have to do the 2 steps in the 1st part to import newest Mint.com data to your spreadsheet. I decided not to share the google sheet because some ppl don't like to download files with existing scripts for security concerns. But if you can't follow the above instructions, PM me. I'll share the file. PS: Here's my old post about my Google Sheet to replace Quicken. https://old.reddit.com/r/personalfinance/comments/c4mzfe/i_made_a_google_sheet_to_replace_quicken/ [link] [comments]  |
| How to get in to stocks? How to get started? Posted: 08 Feb 2020 02:26 PM PST I want to invest in stocks, but I have no idea where to begin, I have some questions and would really appreciate your answers and general suggestions. Where do I even buy stocks? Is it through banks? Are they sold online? Do I need to find a broker? Are their specific apps? How to monitor and manage my stocks? If I were to invest $5000 in to stock X and stock Y, how will I be able to monitor them? How will I be able to sell? Is there a person to call? Do I physically have to do something? What's the difference between stocks, day trading and mutual funds? I know most of my questions probably seem stupid or simple, I'm new to it and just trying to gather information, so any help would be great. Thanks [link] [comments]  |
| Posted: 08 Feb 2020 07:57 AM PST *Edit: Thank you all for the insight and advice. My husband and I obviously don't have a lot of experience when it comes to finances (and legalities), so this has been very helpful. Now we'll know how to back our rejection if it becomes an issue. ** My mother in law use to make a lot of money but lost her job. She fell back on her savings in hopes that it was only temporary, but went through her savings in about 2 years. She had other things going on preventing her from working elsewhere fulltime, but was/is doing side work that'll only cover half of her bills. She ended up maxing out all of her credit cards and is not able to make their payments and her mortgage. Due to the type of work she does, she cannot file for bankruptcy because apparently people who sell life insurance isn't allowed to go bankrupt. She came up with the idea that she wants to transfer the house title to my husband so creditors can't come after her only asset. She doesn't want to live in the house any longer, but know how much my husband wants it (childhood home). She could just transfer it to her business and leave it at that, but she wants to give us the opportunity to kill two birds with one stone. We are in no place to take on payments until we get our own debt down, so her idea is that she gives us money and we "pay" it back to her some how and leave a trail. So that when we decide we're ready to buy, we can get a type of rent to own loan and say "look, we've been making payments and renting, we would like to buy it now" its different type of loan apparently and wouldn't require us to fix things for inspection. If we decide we no longer want the house it would be easy to just transfer back later and wash our hands from it. Honestly I'm not sure how legal that is, but that's not what I'm inquiring about here. She claims that we are only transferring the title, but the mortgage is still in her name. Therefore, we will not be on the hook if she happens to miss a payment (she never has, but I still worry about that). My husband trusts her and what she says fully, but I just want to make sure we wont be on the hook financially. [link] [comments]  |
| My insurance changed and now I have a $190 bill. Posted: 08 Feb 2020 12:55 PM PST I am 21 and currently under my parents insurance. I've been going to therapy since last September and 80% of it was covered. My copay ended up being around $21. I get an email yesterday from my therapist saying their billing department notified her of a problem with my insurance. I sent her my insurance over and she informed me my insurance plan changed and no longer covers any mental health benefits. This means that five sessions in January at $90 each went uncovered. She apologized they did not catch this sooner and offered to do a sliding scale rate and the $21 I already paid would go towards what I owe. The final number she told me I owe was about $190. I'm young and do not know much about insurance or medical bills, but I'm very frustrated this was not caught sooner. Is this completely my fault for not knowing my plan changed or is this also partly their fault for not catching this sooner? Is this something I could fight to have lowered or should I just cut my losses and make payments? My mom said my insurance has this service where someone will fight medical bills for you. If it is my fault I will just bite the bullet and pay. I just want to make sure because I'm a college student and I have a 24 credit semester coming up and really need to be saving all I can. Thank you! [link] [comments]  |
| Would I be spending too much on rent? Posted: 08 Feb 2020 01:22 PM PST hello! I make about 54k a year and I live in Quebec City, Canada. I am starting to feel that my 600$ (with heating and hot water) appartment is not enough for me (and has other problems). So looking for a new appartement I calculated how much rent I can afford (I live alone). I used the 30% rule which gave me about 1350$ per month. now, I have my eyes on a 920$ studio, In a brand new building I would be the first living in it and has everything included (heat, hot water, clim, electricity, gym, BBQ on the roof). It is well under what I calculated and it is still super nice and fancy. Studios are usually not that expensive here, but like I said it is new. But, I am still a little worried, because 920$ is a pretty big jump from what I had. If I take my actual take home pay, 920$ is still about 33% of it. Should I be worried about that number? I have no debt and no car, it's about a 20 min walk from my job to the appartment [link] [comments]  |
| Posted: 08 Feb 2020 07:04 PM PST Here's how it worksMy on the spectrum brother and I started renting an apartment together about 3 years ago and we split every bill straight down the middle. I pay the bills and keep a notebook of the money he owes and he gives me half of the total back at the beginning of the next month. Here's the issueHe is often late with the money and needs to wait for the next time he gets paid. Lately, he can't pay the whole sum which carries over and makes the next month even worse. I let a lot of his debts go but he still can't keep up and I can't keep picking up the slack. The main issue i see is that he doesn't understand how all the little things he buys add up. Starbucks here, a new miniature there, maybe Chick-fil-a twice a week. He also spends a lot of money on D&D and Pathfinder rule books. Here's what I wantI would like to get into his transaction history and see how much he is making a month, figure out what he is spending it on, and determine how to make him financially independent and profitable. I would like to move out and get my own place but there is no way any roommate, even if it was a friend of his, would let him slip on payments like this. [link] [comments]  |
| I was drugged last night and spent $400 on a bottle, what are my options? Posted: 08 Feb 2020 07:01 PM PST I'm not sure if this is the best place to post this or not, but last night I went out for a friend's birthday. We decided to go to a club. I had a quarter of my drink and blacked out. I ended up getting a $400 bottle, but don't remember ordering it, because I had literally been drugged. Can I do anything to get this refunded? It allegedly was barely touched. [link] [comments]  |
| Emergency Fund vs Credit Card debt Posted: 08 Feb 2020 12:55 PM PST Currently have about 5k in credit card debt and also have about 5k in the bank... based on my budget I should be able to have it paid off in about a year if I didn't make huge payments. Apr on the debt is about 25%... should I pay those down more or keep this as my emergency fund? [link] [comments]  |
| Reducing our yearly federal tax payment Posted: 08 Feb 2020 07:46 AM PST Each year my husband and I end up owing a few thousand in federal taxes. We don't mind owing some and would like to come as close to $0 as possible. Are there any high level suggestions for us for changes to our W4s? We take advantage of our 401Ks and HSA and have 1 child. Today's W4s: We both claim 0 and I pay an extra $50 per pay period. Both list us as Married. [link] [comments]  |
| Posted: 08 Feb 2020 04:12 PM PST hey everyone, let me explain shortly what's going on in my life right now:
Not gonna lie, i tried to apply to A LOT of different jobs, from banking to retailer, from real estate agent to car-washer, so far i had no luck and none accepts me. but i would love to get a finance job here in Luxembourg. Now, i'm realizing that although i never thought of enrolling in an university, i'm really tempted to get into it in order to study what i like, at the end of the day i love learning new things, and finance is what i want to learn and succeed at. now i have those steps i could take;
at the moment i think i want to go back to my home country and start studying, just i'm a little worried for the fact that i'm 24, what do you think about it? i'm still gonna need at least 5 years to get a master, or 3 to get a bachelor degree. i don't know really, what would you do if you were me? also money are not going to be a great issue, instruction in italy isn't so expensive, i know i'm going to pay around 150€ for rent + 200ish per month for needs, also i'm right now putting the 5% of my salary into my trading account and so far it's going good, i'm also a musician and so i'm also able to get easy money from that side because i'm really good at it. thanks a lot for your help, i'm trying to sort my life and i don't really know what i should do [link] [comments]  |
| Posted: 08 Feb 2020 07:28 PM PST I am trying to understand what I need to be doing for my taxes. In 2019 I worked in Canada and Aruba for ~3.5 weeks total. My employer based in the US was paying me- I was expected to travel to visit our sites. Do I need to fill anything out to claim the income I made while working in these countries? [link] [comments]  |
| Am I making a sound decision? (Car Purchase) Posted: 08 Feb 2020 04:57 PM PST I come from a family where paycheck to paycheck living and getting by on credit was the norm, and I am doing my best to put myself in a position to avoid that completely, so I just want some feedback on my thought process. It's hard for me to decide if I am feeling wary just because I am looking at spending a large sum of money or because if it's not the wisest decision. I'm 28, live at home in NY, and put 31% of my income (50k) into my retirement accounts as follows:
I have a $7,000 emergency fund in a HYSA that's getting about 1.7% interest. $1800 in my checking account at the moment. My income has recently increased by about 20% (60k as of this week, 63k in July), so those contributions will increase in terms of value, and I will up the percentages slightly. My 2002 Altima recently went completely dead, and I sold it for $250. I'm currently looking at a 2016 used Mazda3 with 18k miles on it. The total price comes to about $12,500, and I'm putting $2500 down. My loan rate is about 2.6% from my credit union. I believe the payment comes in just around $200 a month, and I am comfortable, at the very least, doubling my payments each month. As I don't have any other major expenses living at home other than my cell phone, Spotify, and kicking in for food and some bills, I feel that I am in a good position to do this and pay it off quickly. I have an emergency fund established and zero debt otherwise, having paid off my 10k in student loans back in 2016. Thanks for the taking the time to read. [link] [comments]  |
| How much money should I be saving at a young age? Posted: 08 Feb 2020 03:18 PM PST I'm 18 and in the military. I put the minimum amount into the TSP to get the matching and I also have a separate IRA with Merrill Lynch that will be maxed out by the end of the year. Im E-3 so I'm only making ~$1500 after taxes each month, and $500 is going into the IRA each month. How much should I be saving in a savings account for things I may want in the future like a car or a house? I've been doing $500 a month but I've been feeling like I then don't have enough money to really enjoy my time off base for the month. How much normal savings should I be doing? [link] [comments]  |
| Pay off student loans lump sum, or keep paying monthly? Posted: 08 Feb 2020 06:58 PM PST Have saved up enough to where I can pay off all my loans, lump sum. I've been paying towards it in monthly increments so far since the grace period is still active. Should I move my savings and pay off the loan once the period is over, or keep paying in increments? My savings APY is 2% while my loans are at an 4-5% interest rate. Thanks [link] [comments]  |
| first time having two jobs- tax question Posted: 08 Feb 2020 01:47 PM PST Hey guys, so I'm 18, not married. Usually I've only worked one job at a time, but now I have two part times. Both of my employers are using the older forms with allowances. I have 1 allowance claimed at my first job. I'm currently filling out the new hire paperwork for the second, and I do not know what to put. They have allowances on the paperwork as well. I do not want a large refund. This year I got about $350 back because I made under 12,400 last year. not sure if my independent/dependent status matters and do not wish to provide that info, but if I need to I can Thanks! [link] [comments]  |
| Posted: 08 Feb 2020 12:45 PM PST Unfortunately (these things are never happy occasions, I guess), I'm going to inherit a five-figure sum in the UK. I'm living in the US (dual citizenship). I do think it will be enough to trigger any inheritance tax, so I could probably just have it paid into my UK bank account, then make a transfer into US investments. Whatever the sum, I plan on investing 80%. I was wondering if there would be any advantage to keeping that money in some kind of UK-based investment, or if I should just put it all in Vanguard funds. I have an old Prudential pension fund from with I started work in the UK, but after using their own calculator it seems I could do much better elsewhere. [link] [comments]  |
| First time filing Tax returns - Income Tax / Return Posted: 08 Feb 2020 04:23 PM PST American here. Would you be able to read below and advise? It would be much appreciated: I need to file 2019 taxes soon and I want to know if a.) If I am legally required to file? b.) Does it looks like I could get any returns? Jan-July: (worked OUTSIDE the USA): Teaching earnings: $16,000 (No pay stubs) December earnings: UPS $565 Federal income tax withheld $7 Uber: $2434 Tax-deductible Reimbursements $841 I also paid $4000 in child support, pay my own rent, utilities and expenses. Does anyone have a clue how i should file? And if I might get any returns? Should I file and if so, is there any chance I'll get any reimbursements? [link] [comments]  |
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