Personal Finance 30-Day Challenge #3: Prepare your tax return accurately and file early (March, 2020)

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• 30-Day Challenge #3: Prepare your tax return accurately and file early (March, 2020)
• Mortgage company making a ton of mistakes. Losing checks, withdrawing funds twice... What can I do?
• Hope this is the right place- my dad's car got t-boned and the other driver's insurance company is demanding my dad's Social Security and Medicare numbers.
• Is it better to have 0 debt or 0 savings?
• Are there any free tax services that allow you to file backdoor Roth contributions?
• Just we wait on having a baby?
• Silly question, but what is the actual goal of investing in stocks?
• Hiding a bank account from my parents
• Burned out from working 3 jobs, but ambivalent and nervous about losing the supplemental income.
• Emergency Savings Fund Invested in Bonds?
• Cancelled all services with my ISP in july, but I've been getting bills for 7 months.
• Opened a Traditional IRA ($6000, 2019 tax year) and converted this into a Roth IRA ($6000, 2019 tax year). However it turns out I make more than the Roth IRA limit. What can I do now?
• What is a insurance broker? Should I trust them?
• Autistic and getting kicked out the house, help?
• Embarrassed but need advice on used car I just purchased.
• Got new tax document for $3 after I finished filing. Do I have to amend?
• I need help choosing my first bank.
• Getting out of the rat race
• How to build credit?
• New Mom and Dad
• How Often to Contribute to Roth IRA Throughout The Year?
• Delinquent debt
• Amex Airline Fee credits still work with gift cards in 2020?
• Budget to Buy a House
• Is it unwise to go 100% Roth?

30-Day Challenge #3: Prepare your tax return accurately and file early (March, 2020) Posted: 01 Mar 2020 05:07 AM PST 30-day challenges We are pleased to continue our 30-day challenge series. Past challenges can be found here. This month's 30-day challenge is to Prepare your Tax Return Accurately, and File Early. You've successfully completed this challenge once you've filed your US federal income tax return by March 31st. Recommended Steps: Plan Learn how US income taxes work: Watch Basics of US income tax rate schedule Watch Tax deductions introduction Read /r/personalfinances's very own wiki page on income tax Understand what exactly your tax return is: A form you fill out, telling the government how much money you made, calculating how much taxes you owe on that money (your "tax liability"), and "squaring-up" with the government: Figuring out if you already paid more than your actual tax liability throughout the year with paycheck withholdings (in which case you will get a tax refund), or if you haven't paid enough throughout the year, and owe a balance to the government. Determine your filing status and determine whether you can be claimed as a dependent by anyone (for example, your parents), or can claim any dependents. (IRS Dependent Tool) Prepare a "map" for what documentation you will need to fill out your tax return, then go through the list and make sure you have the documentation for each. Don't worry if you forget something. The software you use to fill out your tax return (or the tax return form itself) will remind you of things you might have forgotten. Jot down every possible way you made money this year (remember, even if you don't get a form, you still need to report it): paycheck from my job (W-2 form) interest on my bank account (personal records like your December account statement, or a 1099 form) dividends from my stock (1099-Div) income from my small business or self employment (personal records, or 1099 form) Make a list of all the possible deductions you might think you are eligible for, and make sure you have documentation: mortgage interest you paid (1098) student loan interest you paid (1098-E) education expenses (1098-T) state or local income taxes (W-2) charitable contributions (personal records) Prepare and file your Tax Return Using one of the following methods See if you are eligible for completely free tax return preparation software sponsored by the IRS Use paid (or free) tax return preparation software. Examples: TaxAct, TurboTax, CreditKarma, AARP, FreeTaxUSA, TaxSlayer. See our megathread for discussion. "Manually" fill out the tax return form online using IRS Free Fillable Forms By starting early, it allows you more time to deal with unanticipated questions about your tax return. "Wait, can I claim my girlfriend as a dependent"? "Do I have to report income from renting out the spare room in my house to a friend?". When these come up, feel free to create a new post asking for help with as much details as you can provide. submitted by /u/AutoModerator [link] [comments]

Mortgage company making a ton of mistakes. Losing checks, withdrawing funds twice... What can I do? Posted: 01 Mar 2020 07:17 AM PST Happy to add more information later as needed. Trying to keep it short. *Edited to add at the top because people keep missing it** Originally paid via paper check because Investors Bank did not accept any other forms of payment until Feb 2020. We did indeed set up online payments directly through Investors Bank & that made matters worse. Cannot refinance because the condo is under very heavy construction for the next 4 months. Mortgage company: Investors Bank My credit union sends our mortgage check automatically every month 5 days before the mortgage due date. Our February payment was seemingly lost. I called on Feb 8th to ask Investors Bank why the check hadn't been cashed. They told me they haven't received it. I voiced my concern, they said to just wait until closer to Feb 15th which is when I'd be assessed a late fee. On Feb 14th I called again because the payment never went through. Just a few weeks ago, they had finally created a service for electronic payments so we signed up so that we could pay just in time to avoid the late fee. We worked with the customer service person to make sure that if the lost check was found, that they wouldn't cash it. I provided the date, amount, and check number. I called my credit union and paid $10 for a stop payment on the check. February 25th, they tried to cash the original check that was sent in late January. On February 28th, they reversed the payment and charged a $30 bounced check fee. I called them yesterday to remind them that we already sorted this out, they said they'd call me back about providing a refund for the $30. I had to call today because through the online payment service, they charged me twice for my March 1st mortgage payment. I received two confirmation emails with two payment IDs. I called the number provided on the website and was told "The online payment system is actually a third party so we can't help you. I don't have their number so I'll have to ask around and call you back." I can't log in to the online payment system either - it says my username/password combo is incorrect. When I try to reset my password, it says username doesn't exist. When I submitted a request for my username, it gave me the username I tried... The only customer service contact info they provide is for the main bank... Jesus Christ. While I had her on the phone I asked her if there was a follow up on the $30 reversed payment issue. She said that they rejected the request for the refund because although the customer service rep took down all of the necessary info, they would still try to cash any check that they received, no matter what. So 3 separate issues - 1) a lost check that was attempted to be cashed when I made an alternative payment and 2) They processed my March mortgage payment twice through their electronic payment service and 3) They have no customer service number for the online payment service which they claim is through a third party, even though it's branded as theirs with their customer service contact info. Are these practices in violation of any rules/regulations? Can I report this somewhere where I'll actually gain traction? I've spent probably 6 hours on the phone with the bank over the past 3 weeks trying to resolve these payment issues and I'm losing my mind because it's STILL not settled. submitted by /u/opsadmin [link] [comments]

Hope this is the right place- my dad's car got t-boned and the other driver's insurance company is demanding my dad's Social Security and Medicare numbers. Posted: 01 Mar 2020 07:46 AM PST The company is trying to claim it was my dad's fault the other guy came out of a side road, crossed two other lanes of traffic and t-boned my dad. He saw the guy coming and barely managed to speed up enough to avoid getting it right into the driver's side door. Instead, it hit the back tire and caved in the OTHER car. The other guy gave his insurance, they made a police report, then vanished. Skipped town. The insurance company tried to say it was my dad's fault. They sent a photographer to "assess" the damage, and tried to declare a certain low amount to fix the damage. The car needs to be checked by an actual mechanic, as there might be axel damage. There IS body damage. They tried to pay a minimal amount to cover any injuries, (not accepted), and are demanding his SS and Medicare numbers, claiming that it's the law and he MUST give them. Dad hasn't accepted anything yet, as he's worried that doing so would mean any costs for repair over what they are offering would not be covered. The company is shady and there's no way that he's going to give such personal info, especially when no physical injury has occurred (we think, so far). How can we deal with these people and is there anything we can do about them making claims about the law and personal info? Sorry if this isn't the right sub. submitted by /u/Sorceress683 [link] [comments]

Is it better to have 0 debt or 0 savings? Posted: 01 Mar 2020 04:52 PM PST So I bought a car a year ago on a 6 year term with an interest rate of 4% and still owe $23k on it. I have 24k in savings, 20k of which I had originally planned to set aside as my official emergency fund. My question is would it be smarter for me to simply pay off the entire car and start my savings from scratch? My plan was originally to set the 20k emergency fund aside and begin saving towards a down payment for a house which I would start looking for a year or two down the road. Paying off the car would set all that back to zero but I'd have no debt. I have no student loans or credit card debt. I make 50k a year and was also planning to start contributing to my employer 401k. My biggest gripe is that I'm in my early 30s and feel like I'm so far behind in savings. I graduated college late and started my career at such a late age also. Any input from you guys would be grateful. submitted by /u/cesarmac [link] [comments]

Are there any free tax services that allow you to file backdoor Roth contributions? Posted: 01 Mar 2020 06:47 AM PST I was using turbo tax, but when I got to the point where I tried to reject the deduction on my traditional Ira contributions, it said I had to pay to be able to perform this type of filing. Any suggestions on other services to use? Or am I just stuck paying for it? submitted by /u/rybizz3 [link] [comments]

Just we wait on having a baby? Posted: 01 Mar 2020 05:36 PM PST (I'm sorry I messed up the title) I'm 32 years old and my wife is 33yo. We both work full time. I make 41k a year and she makes about 39k a year. We have a mortgage, about $6000 in savings, no other debt except for a car loan that we will be done paying for in September. Our savings are pretty low because we did have credit card debt, but just got done paying it off and we weren't too smart with money until recently that we decided to make better financial decisions. We will start putting $800 into savings per month so we hope to grow our emergency fund. Of course we are not getting any younger and my wife has hinted her desire to have a baby. I personally don't feel ready financially and it makes me nervous. Should I wait until our savings have grown more or start trying now and hope I have enough saved up by the time the baby is born? I honestly don't even know what to ask, I still feel like I'm a kid and nervous about starting this new phase in my life. I would appreciate any feedback you can give me. Btw we do have pretty good health insurance. $500 deductible and $1500 max out of pocket. 10% child birth coinsurance and 10% childbirth delivery facility services coinsurance (I thought I would add this because I did research to make sure we are covered. Anything else I need to think of?) submitted by /u/gualwer1107 [link] [comments]

Silly question, but what is the actual goal of investing in stocks? Posted: 29 Feb 2020 09:48 PM PST So I understand that if you do it right, you can make money, but my question is how? Is the goal to make money with dividends? To purchase a stock at X and than sell a week later when the price doubles to Y? And my biggest question is, how does leaving money in the stock market for a long time actually grow the money? I feel incredibly stupid because I understand how the stock market works and the concept of shares and dividends but despite how many articles I read and videos I watch, the one thing I just can't grasp is how investing actually makes me money. People tell me I'm young so I can just put money into a safe stock and sit back and let it grow, but, I don't understand how the money is actually growing if I do nothing to it and don't sell it. I'm 22, in my first job, put 6% into my 401k (which my employer matches), no student loans or any other debt, and I want to invest and stocks, I know how to invest in stocks, but I just don't understand how my money is growing and what the goal should be. I'm slowly trying to grow my financial literacy since it's something I was never taught and I want to take charge and do the right things while I'm young. So I understand what to do, I just don't understand why I'm doing them. submitted by /u/logmoon [link] [comments]

Hiding a bank account from my parents Posted: 01 Mar 2020 11:09 AM PST Hey I'm 18 and I still live with my parents but will go to college in a few months, Currently I have no checking account or savings account. But my parents will open a joint account with me when I'm leaving to college. I want to open a new and separate bank account. How can I keep it secret from my parents? I plan on using it to put in money from odd jobs and such in secret. Do they ask for a certain address? I can't have any mail being sent to my parents house. what about the address when I Leave to college? Is there any way my parents would find out? Should I go to a different bank when they ask to do our joint account? If they go to the same bank would they learn of my separate account? Do I have to worry about taxes or anything like that? Will they find out through credit reports? I know literally nothing about finances. Thanks. submitted by /u/Jennybaby123 [link] [comments]

Burned out from working 3 jobs, but ambivalent and nervous about losing the supplemental income. Posted: 01 Mar 2020 10:01 AM PST I don't have a degree, just a diploma. So, opportunities for alternative, more lucrative employment are fairly limited. That doesn't mean I'm not looking; I'm leaning on my network for openings and applied for several civil service examinations that have opened up recently, but have nothing yet... So here's the story. I have 3 jobs as the title states 1) Full time gig 40 hours Monday-Friday, Net Pay $2572/month. In addition to that they deposit about $700 a month into an employer sponsored retirement plan so long as I provide proof of medical insurance once a year. 2) A consistent part time gig all day Sunday 16 hours every week, Net Pay $992/month <--- This is what I'm considering quitting 3) An on call gig where there is no consistency at all. I might work 1 shift this month or I might work 7. Let's say I work 1 shift a month on average, Net Pay $108. My medical insurance is through this job. Plan on staying here because of the medical insurance and flexible schedule. My issue is I've been doing this for 6 years and I'm over the Sunday gig, but I'm nervous about quitting it, because it nets me the largest amount of supplemental income of my 2 part time jobs. At the same time, I want my weekend back. Adding to my indecision, it's not like I'm digging ditches for 16 hours, it's simple work. It's once a week, but I stumble into my Mon-Fri job half sleep at 7 with a gigantic cup of coffee trying to make it to 330. I have however tried to put all this extra income to good use in that time. My car is paid off, my credit score is 750, I have nowhere near enough in retirement, but I have maxed my IRA for the last 3 years, I contribute to my employer's 401K plan up to their match, and I have a year's emergency fund in a HYSA. I know that's a lot but I can't bring myself to trust these companies. I'm apart of a "labor expense" line on a spreadsheet somewhere, in other words, expendable. EVERY Monday for at least the last year, when I clock into my weekday job, I consider calling the supervisor of my Sunday job and giving my 2 weeks notice, but as of yet I haven't pulled the trigger because of the aforementioned ambivalence and fear. I've meticulously logged and compiled my expenses over the last 3 months, and when accounting for all non discretionary spending + a little for entertainment and a small amount allocated for miscellaneous expenses, my 3 month average spend looks like this: 3 months, December - March average expenses: 401K: $167 Gas: $87 Food Costco's: $278 Food Other: $30 Laundry: $25 Pre Workout: $34 Protein Powder: $67 Rent: $1002 Internet: $69 Phone: $42 Insurance: $100 Bank fee: $5 Cat Food: $16 Estimated Entertainment Average: $100 Earmarked For Miscellaneous: $50 $2022 - Average Expenses over 3 months. So if I don't include the inconsistent on call income, and quit my 16 hour job, I'm left with $500 a month which I intend on using to continue maxing my Roth annually. TL:DR Burned/burning out working non stop. I want more time, but I'm attached to the extra money my Sunday gig provides. Planning on using my employer benefits + a little left from my income to fund retirement and hopefully add a little free time, but very nervous. Is this plan sound? How have you fared with a pay cut? submitted by /u/Abject-Fish [link] [comments]

Emergency Savings Fund Invested in Bonds? Posted: 01 Mar 2020 12:40 PM PST Hey everyone, I've typically kept my emergency fund in a Discover high yield savings account and was curious what people thought about moving it into a brokerage account and having it invested in a bond fund such as SCHZ or SCHP. I'm 24 and have about 3 months of expenses in my emergency fund. submitted by /u/AJS1395 [link] [comments]

Cancelled all services with my ISP in july, but I've been getting bills for 7 months. Posted: 01 Mar 2020 05:07 PM PST I apologize for the wall of text but this has been a long road. This is a bit a long story so here goes. In 2019 I lived in Greenville NC where I had internet through Suddenlink communications. I also had automatic monthly payments set up. In July 2019 I was moving out of state for grad school so I called to cancel my service and returned the equipment through the mail. I was even surprised how smoothly the cancellation process went. After that my roommates and I all moved out of the house. Fast forward to September, and I noticed a charge from Suddenlink on my bank statement, and upon further inspection I found charges for every month since July. I IMMEDIATELY called my bank to block any transactions from my ISP and tried to get a Suddenlink rep on the phone. After hours on the phone bouncing around between reps I was assured that the bills would stop coming and that I would be refunded. Fast forward to november and I get a call from a rep telling me that my refund will finally be processed. It took long enough but I thought I was done. MY CURRENT PROBLEM STARTS HERE Just last week, I checked the old college email that I used to get statements sent to, and wouldn't you know I'd been sent a bill for EVERY MONTH SINCE SEPTEMBER. Here's where I started to get frustrated. I called Suddenlink to try and stop the bills and zero out my now $300 balance, but the machine that picks up the phone recognized my number and saw that I had a past due balance and sent me to the payment module with no option to speak to a rep. Every single Suddenlink number called sent me to the same dead end. My solution was to call a number related to their offerings for businesses (it worked!) and transfer where I needed to go. Now I became incredibly frustrated because not a single rep I spoke with was able to resolve my problem. I ended up getting bounced between at least 11 different people, sometimes double dipping into the same department which had previously told me their department couldn't fix. To make matters worse I had to repeat my whole story to every...single...person. Finally I spoke to a rep in retention who was very nice and helpful. He assured me he could fix my issue (even though I'd already spoke with retention). Surprise, he couldn't fix it, so I was sent to one last person. After explaining the story to him at least three times, he still couldn't quite grasp why I shouldn't be getting bills, so he decided to dig through ALL of the notes on my account. He was able to tell me that yes, my internet was in fact disconnected in July and he saw the refund I received. This is the weird part. The notes said that my service had been "reactivated" in January. He said that I do actually owe for that month, because someone called with my name, number, and activation code to do so. Naturally we had an argument. I haven't lived in the STATE for eight months now, so there's no reason I would do that. Plus, I checked with my former landlord and his current Tennant's have been paying for their own service since they moved in. Eventually he agreed that I should not be responsible for any bills since July but could not fix anything himself, so he sent an escalation ticket to another department (I think credits or collections or something) and told me to await a call in the next three days. And that's all for now! I'm just sitting around waiting for a call still. I am highly suspicious of suddenlink's motives, because this should be an easy problem to fix. In the mean time I submitted complaints through the FCC and BBB. I also believe having to pay a bill that I don't owe in order to talk to a rep is extortion. If anyone has any advice on how to deal with this situation I would greatly appreciate it. TL:DR Suddenlink keeps sending me bills even though I cancelled my internet eight months ago. No one seems to be able to fix it. submitted by /u/fildodaggins [link] [comments]

Opened a Traditional IRA ($6000, 2019 tax year) and converted this into a Roth IRA ($6000, 2019 tax year). However it turns out I make more than the Roth IRA limit. What can I do now? Posted: 01 Mar 2020 02:07 PM PST Basically what the title says. I created a traditional IRA in 2019 and foolishly converted it to a Roth IRA a few weeks later (Still in 2019). The problem is I am only allowed to contribute about $3000 to a roth IRA. Can I do anything now to avoid the penalty? It seems that before 2018, I would have been able to reconvert this to a traditional IRA but this is no longer the case. submitted by /u/rebat0 [link] [comments]

What is a insurance broker? Should I trust them? Posted: 01 Mar 2020 04:39 PM PST Hello everyone, My former insurance agent became a insurance broker and contacted me. She wanted to sell me another policy for home and auto which is cheaper than what I currently am paying BY A LOT. I am currently with Farmers Insurance, the company she wants me to buy from is called Travelers Insurance. Couple of questions: What the heck is a insurance broker? Why do I need them? Should I trust this? I'm from CA and I've heard a lot of people didn't get paid for fire damage after the big fire because their insurance company was too small to handle all the claims. I've never heard of Travelers Insurance so I'm assuming they are smaller than Farmers. Thanks. submitted by /u/aznraver2k [link] [comments]

Autistic and getting kicked out the house, help? Posted: 01 Mar 2020 02:58 AM PST I'd like to just apologise if this kind of thing isn't allowed here but I'm just not sure what to do, and I'm scared.But anyway, I'm 20 years old from England, and my mother has basically just told me I should find somewhere else to live. We've had an argument and I guess it was just too much for her to have me around anymore. I am 20 years old, so it's not unusual to live on my own anyway, but I've not really ever had any kind of independence, my mother has just kind of, done a lot for me. I don't know how to cook or handle money, no idea how to even find a house to live in either. I'm practically only an adult in age I guess. My mother has some mental illness issues as well, and I always worried about leaving her in the house alone, since it's just her and myself, what would happen to her? Even though we're not on best terms right now, I still love her and I would obviously be so sad to think of her on her own. I'm planning on going to college in September, it's quite a distance from my current home so I guess it would be nice to move closer to their anyway, and living here with her has made me kind of depressed for a while also, so maybe it's for the best. But still it's very scary for me, I have no idea what's going to happen. I can't even imagine living alone or even just surviving on my own. I do get some benefits though so at least buying some things wont be too much of an issue for me. I would really appreciate any help! And if you could redirect me to some other subreddits that might be able to help too, I'd appreciate that also. I'm honestly really desperate here. Seems like these posts are pretty common here, so sorry to post another :/ submitted by /u/oooblybob [link] [comments]

Embarrassed but need advice on used car I just purchased. Posted: 01 Mar 2020 07:31 PM PST I told myself I'd never purchase from a corner lot but I really needed a car. I test drove a nice looking 2005 Honda Civic with 133k miles. The drive was nice and smooth. After taking it home, the car overheated and now does not want to turn on. The guy told me the car went thru a safely inspection and passed smog. I luckily purchased it on my credit card ($3k). I need advice on what to do. Can I dispute the charge and give the car back? Do I have to contact him? Will I be at an disadvantage because it was sold "as is"? I'm so mad and embarrassed I don't know what to do. submitted by /u/Aleexx97 [link] [comments]

Got new tax document for $3 after I finished filing. Do I have to amend? Posted: 01 Mar 2020 12:24 PM PST I received a schedule k-1 ( form 1065) The income was 3 dollars and when I enter it in my return doesn't change at all. So Will I still need to amend? I'm guessing yes but just double checking if I can avoid the hassle of having to print and mail everything. Thanks submitted by /u/tru_gunslinger [link] [comments]

I need help choosing my first bank. Posted: 01 Mar 2020 04:37 PM PST I've heard chase is a great one to choose but there isn't one close to me. I'm looking for one that could have their atm anywhere and is good for an 18YO lol. Thanks for the help submitted by /u/Boos71055 [link] [comments]

Getting out of the rat race Posted: 01 Mar 2020 04:20 PM PST Hi, I'm 24 y/o and absolutely hating the rat race. I have a stable job in a big US city, but want to pursue a career in an art that I am passionate about, but want to be financially stable before I do that. Currently making about 55k a year and have saved up 30k over that past 2.5 years. No debt except a smallish car loan and a very modest spender in general. I'm not worried about losing my job (unless the market continues to plunge...). How do I maximize my earnings? I've been thinking about investing, but the market kinda freaks me out rn. Any input is appreciated, thanks! submitted by /u/stoleadingobaby [link] [comments]

How to build credit? Posted: 01 Mar 2020 04:08 PM PST I tried opening an online savings account, but I was denied because I don't have a credit history. What is the best way to build credit? I've never had a credit card and I don't know exactly how they work and any insight or help would be greatly appreciated. submitted by /u/SuperiorIntellect420 [link] [comments]

New Mom and Dad Posted: 01 Mar 2020 04:01 PM PST Hi all, first time poster here. My wife and I just had a baby and we were wondering what kind of a bill to expect after payment goes through insurance and if there are payment plans offered? The birth was natural, a little bit of tearing and some stitches, but otherwise that's it. We arrived at the hospital Monday at 1000, delivered Tuesday morning at 0100 and then left the hospital Thursday at 1100. The hospital staff basically said we could leave anywhere after 24 hours from the time of birth, but could stay longer if we wanted as long as nobody else needed the room. My wife chose to stay longer to recuperate and get help from lactation consultants, that's why we departed on Thursday morning. Any help or advice would be appreciated. Thanks in advance. submitted by /u/Scomus11 [link] [comments]

How Often to Contribute to Roth IRA Throughout The Year? Posted: 01 Mar 2020 06:40 PM PST I'm curious how others handle their Roth IRA contributions. I just started my Roth IRA a month ago and maxed out 2019 with savings on hand and now I want to work on 2020. Part of me wants to fund it with every dollar I can scrape together until it's maxed so I don't have to worry about it because once the money is in there (and invested) it can be forgotten for the next 30 years. Then I can use the rest of the year to save for personal wants. Though, I fear this approach will lead me to try and time the market. For example, the latest dip makes me want max it out right away with some of my savings. Do most people max out in one lump sum when able? Or transfer $500/mo and purchase stocks once per month to smooth out market fluctuations? submitted by /u/bobjks1 [link] [comments]

Delinquent debt Posted: 01 Mar 2020 06:12 PM PST I had a credit card that I let go into delinquent status (so dumb I know!) but I was able to pay it off completely few weeks ago. How long would it take for my credit to build up again? What's next? I don't want to use credit cards again to establish credit (prior to this mistake, I was doing great.) ? submitted by /u/beepboop123456789101 [link] [comments]

Amex Airline Fee credits still work with gift cards in 2020? Posted: 01 Mar 2020 06:39 AM PST Last year I was able to purchase 2, $50 delta gift cards and be reimbursed through the $100 incidental deal with AMEX Gold. Has anyone had success in 2020 yet? submitted by /u/PurplishDuck [link] [comments]

Budget to Buy a House Posted: 01 Mar 2020 09:43 AM PST I've been saving up with the goal of getting a house in the next 3 to 5 years. The houses I like tend to be $100,000 and less due to them being older, fixer-upper types. From my research, this is a budget I've made to prepare for buying an older house that will likely need a bit of repair upfront. Everything here is estimated on the high end. $100,000 House Budget: Expense: High End: Low End: Rate: Downpayment $20,000* $20,000* 20% Closing Costs $5,000 $2,000 2-5% Inspection $500 $300 $300-500 Appraisal $500 $300 $300-500 Earnest Money $3,000** $1,000** 1-3% Repairs $3,000 $3,000 3% 1st Month Mortgage Payment $700 $700 15 Year Loan Total $32,700-$29,700 $27,300-$26,300 *Yes, I know you can get lower rates with an FHA loan. However, the houses I like do not tend to qualify for FHA, as they are usually older. **It's true that this money usually goes into the loan, so they lower end of my "total" range is without the earnest money as additional, while the higher end is as if the earnest money is separate. _____________________________________________ What am I forgetting? What am I underestimating? What should I overestimate more? Thanks! Edit: I don't expect to walk into a pristine, revitalized house. I would do a lot of work myself and wouldn't be doing any major renovations immediately. The repairs line is about when something unexpected comes up. submitted by /u/sunsickclown [link] [comments]

Is it unwise to go 100% Roth? Posted: 01 Mar 2020 07:40 PM PST I'm going with a Roth IRA and a Roth 401k because I like the ability to withdraw contributions penalty free. However, I'm now realizing that withdrawing ~10k a year from traditional retirement accounts would allow me to be taxed at the lowest rate. Say 30k in Roth withdrawals and 10k in traditional withdrawals would leave me still paying no taxes after the standard deduction correct? Currently my top ~10k of income that I'm paying taxes on now is being taxed at >20%, so I might as well put it in a traditional 401k and reduce my taxable income right? This makes me wonder if it's almost always a bad idea to go 100% Roth, because you can always withdraw a small amount from traditional retirement accounts to avoid paying a portion at a higher tax rate. Thoughts? submitted by /u/12yetti21 [link] [comments]

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