Personal Finance I have a meeting in two hours at which I expect to be let go. |
- I have a meeting in two hours at which I expect to be let go.
- Landlord took 3x my rent what can I do?
- Fiancee passed away and left our kids money.
- Why would I ever pay off mortgage early when $SPY has an average return of 10% for the last 30 years?
- I am blind and want to retire early. Do I count as disabled and am therefore allowed to take early distributions from my retirement accounts?
- My 10k car currently needs upwards of 6.5k worth of repair work
- $2,000 was withdrawn from my bank via Coinbase, any chance I can get this back?
- Job offer rescinded when asked about benefits
- Bank says I can't make anymore mortgage payments this year
- How can I help set my little brother up for financial success?
- Navigating using an external job offer (that I don't want to accept) as leverage for a raise at my current job?
- Trading during a stock split
- I am quitting my job and pursuing a college degree
- Is there a way to cut off access to money from myself?
- I stayed strong against the apartment complex manager and negotiated a lower rent
- Secured Credit Card Randomly Bombed My Credit
- Step father fleeced by car dealership
- Is this a bad idea? CD’s on the secondary market
- My hospital is trying to scam me?
- Private Student Loan Debt
- Downpayment bank statements and stock
- What does it mean when a creditor says something has been written off as "bad debt"?
| I have a meeting in two hours at which I expect to be let go. Posted: 04 Aug 2020 05:48 AM PDT My situation is complicated but essentially I was pushed into a role that I neither enjoy nor excel in. I was supposed to be moved to a role I thought would be a much better fit but a variety of factors as me to believe I'm actually going to be let go in two hours. Is there anything I can do to try to prevent this or prepare for it? Thank you in advance. [link] [comments]  |
| Landlord took 3x my rent what can I do? Posted: 04 Aug 2020 02:16 PM PDT The management company that oversees the apartment I rent processed my rent for about 3 times the amount I owed. I called them and they said it's my responsibility to call my bank and fix it myself. Is there anything I can do besides report it as fraud to my bank? [link] [comments]  |
| Fiancee passed away and left our kids money. Posted: 04 Aug 2020 03:23 PM PDT My fiance passed away and left $30,000 for our kids. The kids are both under the age of 5. I want this money to be available to them once they are older. What is the best way to grow this money for them? We're in Louisiana. [link] [comments]  |
| Posted: 04 Aug 2020 05:23 PM PDT This is seriously something I can't figure out. Over the last 30 years SPY averaged a little over 10%. Simple math indicates that I can make more by investing then what I have to pay in interest. So my plan is to pay the minimum mortgage amount and invest the rest of my disposable income. I understand that the market can be unpredictable, but it still seems pretty safe to assume that I can get a over a 3.5% return over the next 30 years. Am I missing something? Why would anyone do this? Please help me understand. [link] [comments]  |
| Posted: 04 Aug 2020 03:31 PM PDT I'm just starting my career, and I want to retire at least somewhat early. What I'm trying to figure out is whether I can qualify as disabled for retirement purposes, even though I didn't suddenly become disabled during my career. I've always been blind and it does not keep me from being able to work. I have qualified for and have received SSI assistance in the past, so the government has already considered me disabled legally, but I'm not sure if it counts for retirement accounts. Right now, I have some money in a roth IRA. I will soon be contributing to a 457 account through my new job. I know that traditional 457 plans don't have an early withdrawal penalty, but I also have the option to go roth on that account, but I know roth 457 plans lose some of their tax advantages if you withdraw early. That is, unless you become disabled. I don't make much money yet and probably won't for years, so it would seem that it would be smart to go roth if not for there being less tax advantages if I take early withdrawals. I'm just not sure if I count as disabled because everything I can find online says that you must become disabled and unable to work later in life. I found one thing that said that if social security considers you disabled, you should be good, but I want to get that confirmed. So does anyone know how to answer my incredibly niche question? I need to decide soon whether my first contributions should be roth or traditional. Thanks a ton for the help. [link] [comments]  |
| My 10k car currently needs upwards of 6.5k worth of repair work Posted: 04 Aug 2020 11:04 AM PDT Update: I have made the decision to pull the vehicle out of the dealership. Another dealership offered me 4k on trade in value so I'm just gonna trade it in and go upside down. The car I'm trading in for is 6.5k and I have 2k cash saved up so I'll just be covering taxes and the remainder of my loan. Thank you guys for all the advice! I'm looking for advice for my current vehicle. I bought it roughly a year ago and it cost me about 11k after tax and title etc. Its a 2011 audi A4. It has had in the last 3 months 2k worth of repair work and now it needs another additional 6.5k. I'm financing and still owe around 9k ish on it. The car does not run at all because of a jumped timing chain and broken turbo seals. Do you think it's better to salvage the vehicle and take the loss? Or what should I do? I'm so lost and obviously not made of money. [link] [comments]  |
| $2,000 was withdrawn from my bank via Coinbase, any chance I can get this back? Posted: 04 Aug 2020 12:23 PM PDT I woke up this morning to check my bank account and noticed 20 individual -$100 removed from my checking account and currently pending. To backtrack... On Friday, I noticed on my main email I received a bunch of emails from Coinbase talking about how $100 was deposited to my Coinbase account. I haven't used Coinbase in years, probably back in like 2017 or so. So I thought it was strange and I logged into Coinbase and saw that I had BTC. I was pretty stoked so I converted it to cash which came out to $1,657 and some change. I tried to deposit it into my bank account but it wouldn't let me and told me to verify my bank. Wasn't able to do that, kept getting an error, then it said that transactions were pending. I figured, let me reach out to Coinbase and see if they know anything about why I can't withdraw. So I sent them an email. In the meantime while I waited to hear back, I also noticed at one point during the day, my phone wasn't sending messages nor was I able to make any calls and even got a text message from T-Mobile stating that my SIM card was successfully changed. I called T-Mobile and it seemed someone was trying to access my account but the Fraud department caught it instantly so I was relieved with that and my service was only offline for 10 minutes or so at the time this was happening. So I go back to Coinbase and realized for the longest time I had just had the SMS for security and not the authenticator, then I go and check my portfolio history and noticed on July 31st a bunch of transactions was happening which explains all the emails I got and then I see that it was happening from the UK. Now I realized that someone got a hold of my account and was trying to send themselves BTC I assume. So I went ahead and created a new email, new passwords, and backtracked and changed everything to all my other personal accounts with the new email and passwords. I downloaded Microsoft Authenticator and linked it to my old email just in case and to Coinbase as well I added an authenticator to prevent this person access. My thought process was that now that I was secured he or she couldn't take the BTC that was already converted to cash so I thought I was in the clear. I figured I'd wait the 6 days or so Coinbase had so I can withdraw this money which I thought was extra funds; not thinking clearly through this. Fast forward to Monday, I get an email from Coinbase stating my bank should be good now and I try to deposit and couldn't, still had to wait. So then today rolls by and I noticed the 20 individual withdrawal of -$100 from my bank account and I panicked. I reached out to Coinbase and tried to call them and they only had one choice of closing my account, so I closed my account to somehow stop these pending charges from going through. I also went ahead and wrote another email via their site explaining all this. I called my bank (Regions) and was on hold and told the lady everything and she told me I have to create a new bank account with them and transfer the remaining money left in my old account to the new one to prevent any further removal of money. Also would have to get a new debit card. Then I have to wait for the pending charges to go through to actually file a claim and dispute this. She assured me I can get the money back because I don't care about Coinbase and they can close that account, I don't use it anymore. I just want my money back. She set me up with an appointment at my local branch to go ahead and do this so shortly after I got off my local branch calls me and I spoke with the manager who told me to just wait until the pending charges go through and then I'll sign a form with them to follow along with the claim and they'll investigate and that if I'm lying they'll come after me and all the stuff that they have to say. She came off pretty stern and serious, to be honest. So never had to go to the local branch, and just playing the waiting game at this point. What sucks is that I kind of wish I hadn't closed my account because I could have taken pictures of the portfolio history showing this was made in the UK so when my bank does investigate they don't think I'm lying or something and try to void my claim. I'm trying to recover my Coinbase account but it glitches out when it comes to verifying with a driver's license... Sorry for the long rant, any chance I can get my money back or I'm screwed here? [link] [comments]  |
| Job offer rescinded when asked about benefits Posted: 03 Aug 2020 10:14 PM PDT I received a job offer last Friday from a technical school with vague details after interviewing two days prior. The details covered were hourly rate, start date, and a mention that they'd work with me to find company insurance. I replied to the owner's email (no HR, it's just him) thanking him for the offer and expressing my excitement in helping grow his business (his goal is to grow it into a proper full university). In that email, I asked if he offered paid time off and if a 401(k) plan was in place. A few hours later, I received a brusque reply stating that "they were unable to meet my requirements at this time" and were going to move on to another candidate "committed to the role". This was so bizarre and out of left field. I was looking forward to this job. I replied that I believe he misunderstood my questions as requirements, but that I wished him all the best in finding the right candidate. Is this normal? Is it perhaps now considered in poor taste to negotiate (or, in my case, simply ask for clarification on the benefits of the position offered)? I would appreciate any input, because I'd hate to burn bridges with an employment faux pas. I'm located in the South, so perhaps it's a cultural thing? I've always been at jobs long term, so I feel inadequate to even ask questions or negotiate. When I worked in healthcare, I stayed with the same company for 16 years - moving up and into different departments. I've been at my current job for 5 years. I always asked questions either during the interview or after the offer (only if there was no time for questions during the interview or if the interviewer did not welcome them). As a final request, if this isn't the right forum for my question, please please just let me know without any nastiness. Thanks in advance. [link] [comments]  |
| Bank says I can't make anymore mortgage payments this year Posted: 04 Aug 2020 03:47 PM PDT essentially the bank says I can only be one month payed ahead at a time due to a new system limitation. This has never been the case as in the last seven years I've been consistently prepaying several months in advance. Are they just allowed to change how much I can prepay like that? I haven't signed any new contacts they are just saying it's a new feature and I have to deal with it. [link] [comments]  |
| How can I help set my little brother up for financial success? Posted: 04 Aug 2020 10:20 AM PDT My family checks all the boxes for perpetually broke people: living paycheck to paycheck, carrying balances on high interest loans and credit cards, investing in get rich quick schemes, and overspending on luxuries the second there's extra cash available. I'm 23 years old and finally starting to shed the bad habits I've accumulated over the years. I understand what causes this behavior, so I don't blame my parents. But it's hard to see them under this constant stress. Especially after dealing with my own financial anxiety, on a much smaller scale, for just a few years. It can damage every aspect of a person's life. I cannot imagine living in that state for decades. So I'm determined to set a better example for my brother and guide him toward responsible financial decisions. He's 17 and started working about a year ago. I can already see him mimicking my parents' behavior—overspending on luxuries, bouncing from job to job, and borrowing funds for necessities. Of course it's exciting to have your own money and car for the first time. I don't expect him to be the next Warren Buffet. But this is how it started for me too. It quickly went from "haha I just went to the local Coinstar to fill up my gas tank" to "oh shit overdraft fees are piling up and debt collectors are calling every hour." So two questions: 1) What can I do now that might help him out later? 2) How can I get him excited about budgeting, saving, and investing? I opened a separate brokerage account and named him the beneficiary. Every time he borrows money from me and pays it back in time I put it toward ETFs and crypto. I also try to throw some money in this account whenever he gets through a challenge or does something especially kind. I make a note with each deposit. I plan to give him access to this account on his 21st birthday. I also put whatever I can in a Roth IRA every month, but I think I'll keep this a secret until he's older. I want to help him open a secured credit card, but I don't think my parents would be on board. My credit score is excellent. Can I add him as an authorized user to my account even though I'm not his guardian? Ideally I would like for him to have his own card that I can monitor. Anything else? What did it take for you to start finally saving and investing your money? How can I "gamify" financial responsibility for him? Thank you so much sorry this is super long. Any feedback at all is appreciated! 💗 [link] [comments]  |
| Posted: 04 Aug 2020 06:39 PM PDT TL;DR: I will very likely have a job offer that is >20% of my current salary, but I won't accept because I love my current company. How can I use the offer to get a raise at my current job? I'm not actively searching for a new job, but I was contacted by a recruiter a couple weeks ago about a job that is offering a 20-30% salary increase vs my current job. After a couple phone interviews and an in person interview this week, the recruiter essentially told me they will make an offer to me by the end of the week which will be at minimum > 20% increase. The role itself is nearly identical to my current one, same title, responsibilities, etc. although I can assume their are higher expectations with the higher salary. However, I love being at my current company. It is the exact company and industry that I want to be in, I have a great relationship with my current boss and team, and my work/life balance is by far the best I've had in my career. To me, the only complaint is being paid under market value and the big salary jump was the only reason I decided to interview for the new job. After going through the interview process, I realized I wouldn't enjoy going to the new company and that it would be step down in quality of life for at the very least a year, even with the pay increase. I live comfortably with my current salary and I'm fortunate enough to be at a place in life where I can choose happiness over money. With all that in mind, I know I will not be accepting a new offer (assuming it does come through this week). However, I do want to use the offer to leverage a raise at my current job in a way without straining relationships and being able to keep my job even if they don't give a counter offer. I'm not looking for a match of the 20 - 30% increase, I'd be happy with any jump to bring me closer to my market value. My current company is doing very well during COVID and laid off 10-15% of employees at the beginning of it in a panic move, so asking for raise isn't ridiculous for my situation. Any advice or experience with a situation like this? [link] [comments]  |
| Posted: 04 Aug 2020 05:18 PM PDT Apple (AAPL) recently announced a 4:1 stock split. Per this CNBC article:
It's unclear to me what happens between August 25-30. Will AAPL shares just not be available to buy or sell during that time? [link] [comments]  |
| I am quitting my job and pursuing a college degree Posted: 04 Aug 2020 02:35 PM PDT I am a male who currently is getting ready to quit his job and pursue college. I have about $4000 saved up in cash. I Currently have found another job to work while I am in college that it's going to be less of a stress than my current job. Me and my girlfriend have one vehicle, and for the past year it has worked fine because I have a work vehicle. Seeing as I am quitting I'm going to need another vehicle. I owe about $5000 on the car that I have currently. Moving forward, I could save up some more money to pay off my car and put a down payment on another car that is cheaper, or I could buy a car with the money I have in cash and continue to make my monthly car payments. I am 100% leaning towards buying another vehicle in cash and making my payments monthly on my current vehicle, but I wanted some insight from those wiser than me. Thank you in advance [link] [comments]  |
| Is there a way to cut off access to money from myself? Posted: 04 Aug 2020 04:03 PM PDT Hi guys. I know nothing about personal finance, I'm sorry if this is a dumb question. I'm getting treated for my mental health, mostly an eating disorder and bipolar. Due to these my finances got a little out of control. I get very severely depressed and fail to pay bills..or I impulse spend occasionally. I've had stays in the psych wards that have cost me thousands of dollars, my meds and therapy and doctor cost several hundred per month. But the biggest issue is that I spend so much money on food binge eating. I am now at the point where I have about 28k in student loan debt, about 2k owed to psych unit, about 2k in CC debt and no money or credit card spending ability until my next paycheck. If I had an emergency, car issue etc... I wouldn't be able to pay it right now. If I lost my job, I wouldn't be able to pay my bills. So, I got a little off topic...but I want to get my finances in order. I will keep trying to break these bad habits, but I am really struggling with the ED. So I was hoping there would be some way I could pay off all my bills as soon as I get my check, buy groceries and then maybe put the rest away so that I cant access it immediately. Is this possible? Has anyone else had similar struggles and found ways to manage it psychologically? [link] [comments]  |
| I stayed strong against the apartment complex manager and negotiated a lower rent Posted: 04 Aug 2020 03:53 PM PDT I posted a few days ago about various obfuscation techniques used by the manger of my apartment complex to justify him not lowering rent. One of the things I was told is that he couldn't because of the Fair Housing Act. This line was clearly malarkey since I am renewing for 7% less than the number he said he couldn't negotiate. I was ready to move, but I made it clear when I went to give my 60 day notice that I was willing to negotiate and this time he actually negotiated with me. Moral of the story, be prepared to cut your losses and run, but negotiation is worth a second shot and can actually reap benefits. I do have Covid to thank for my success partially since it has lowered apartment ask prices by about 6% in my city. [link] [comments]  |
| Secured Credit Card Randomly Bombed My Credit Posted: 04 Aug 2020 02:52 PM PDT I haven't utilized any credit in about a decade. A few month ago, I decided to start building it. The only card I could get was a secured $200 card from "Open Sky" Capital Bank. I do exactly as I was advised: Make one purchase per month, immediately pay it off. For the first 4-5 months this worked as advertised, with my score rising steadily (according to Credit Karma) from ~600 to ~650. A few days ago, I got the usual message that my score increased a few points. Then the next day, another notification. This time my score plunged 50-75 points, lower than I started. The "reason" is my balance/credit utilization decreasing by $17, from 10% to 2%. (I paid off a $20 purchase, and then Open Sky charged me some hidden $3 paper statement fee, which I paid). I have the account set to automatically pay the full balance every month. Is this some hiccup that will self correct? I'm very close to saying "fuck this" and going back to not utilizing credit, because I have basically just been paying fees to this shady bank for the privilege of raising my credit score through some BS mechanic. I have zero confidence in this company- their Facebook is a morass of fake accounts praising them, and desperate people complaining about all sorts of issues. They don't even have a customer complaint phone number, just a mailing address. [link] [comments]  |
| Step father fleeced by car dealership Posted: 04 Aug 2020 10:09 AM PDT I want to start off by saying that my step father is NOT good with money. He's very bad with it and in hindsight, I should have tried to do more to prevent what he got himself into even though I live across the country from my parents. This happened in NY. Last month, my step father decided to buy a car. My mom briefly mentioned this to me over the phone and I suggested he do his research and go with a used car within his means. Long story short, he walked out of the Toyota dealership with a brand new Camry and a loan that he cannot realistically afford. That was two weeks ago and I'm just finding out about this now. Here's the breakdown:
All in all, he's left with a ~$35k loan at 5.8% interest for the next 7 years. He paid way too much for the car (base model from what my mom told me) and got suckered into taking this maintenance package. To top it all off, he's currently unemployed due to the whole pandemic situation. I know that once he signed the contract it's a done deal so I don't have my hopes up, but if you please have any suggestions/advice to make this situation suck less I'll gladly hear them out. I'm planning on visiting my parents later this month and going to the dealership in person to try to work something out in regards to removing the maintenance package at least. Is there anything else I should be looking into? Bottom line is that my parents cannot afford this car. Thanks in advance. ---- UPDATE: Contract states that maintenance package can be cancelled within 30 days. I'm working on getting my step father to go into the dealership with written notice to have it refunded to him. This would takes a huge load off the situation. [link] [comments]  |
| Is this a bad idea? CD’s on the secondary market Posted: 04 Aug 2020 08:37 PM PDT Through my brokerage I can buy CDs on the secondary market. They are usually going for a nice premium but way better then any new issue. I'm super conservative with my money. Is this method flawed I'm thinking of? 5 x $1,000 CDs. Each one has a premium of like $90 so I'd be all in for $5,450 but when the CDs mature only get $5,000. I'm looking at CDs that pay monthly from a reputable big bank and would lock in for Atleast 3% for 12-24 months. To lessen the blow of the initial $450 hit I would use the monthly interest earned to buy a share of a muni bond fund and then reinvest the dividend each month. When the CDs come due I would still have a small income stream tax free and growing every month. I haven't done the math yet or picked a muni bond fund that is priced around what one month interest would be but in general is this a dumb idea? [link] [comments]  |
| My hospital is trying to scam me? Posted: 04 Aug 2020 06:05 PM PDT A year ago my wife gave birth to my son in Washington state. We were covered under Medicaid state insurance. At the time, we were under the impression that the state insurance would cover all expenses related to the normal child birth. However, about 8 months ago, I got forwarded a $200 bill from the last Dr. appointment that I took my son to right before we moved out of state. Confused, I called the hospital and they told me it appeared to be an error and that they would call back to confirm after looking into it. The same day, they called me back and told me that it was a matter of not renewing my son's coverage from July to August (the appt had been on Aug 1st). They told me it was taken care of and I wouldn't have to pay it. Furthermore, they instructed me that if I received a second bill, it was just an issue with the system and to ignore it. Unfortunately, I didn't think to task for this in writing. Just this month now, a year after his birth, I received a new letter from them stating that the bill was outstanding still and I was being sent to collections. I immediately called back and spent many hours on the phone being bounced around between the hospital and insurance. When I called the hospital and spoke to my insurance again, this time they claimed I didn't register my sons birth and that he wasn't on record with my insurance. I'm confused about what they mean because everything else was covered, we have a SS and birth certificate and even an insurance card for him. They told me there is nothing I can do now and I could have resolved it had I called before the bill was sent to collections. At this point I'm not sure what my options are, I'm a student with no income. I appreciate any advice. [link] [comments]  |
| Posted: 04 Aug 2020 10:32 AM PDT $100k Student Loans North East, USA I made the stupid decision at 18 to get a bachelors degree after I finished high school. I attended a respectable state school and to get a discount on instate tuition. I dormed my first year and commuted every year subsequently, it took me 4 and a half years to complete my degree in a Social Science. As of January 2020 I have graduated with over $110,000 in student loan debt. My family was unable to assist me with any tuition but they were above the threshold to qualify for much financial aid. As of such I had to apply for private student loans through discover my interest rates vary per loan but the highest rate is 13% and my lowest is 8%. I owe $87,000 to Discover Student Loans and owe the federal government $20,000. My grace period is up as of August and after trying to negotiate with Discover the best they can help me with is $800 a month in interest only payments for six months. I cannot meet this in my current situation I am fortunately employed and make $47,000 a year. $2800 a month after taxes. I owe $200 a month on car insurance, $500 on car payments. I need the car and cannot get rid of it, I commute over 700 miles a week and need something reliable for work. I spend about $200 a month on gas and another $300 on tolls. I have credit cards bills equaling around $3000 combined. As well as an out standing personal loan for $10,000 at 22% interest which costs me $300 a month. I tried to refinance but no luck. I live at home but i'm engaged and we want to move out of our parents household when we're married, which will probably be in a year time. I don't think I'll be able to afford any actual wedding. My consolidation and refinance rates for my private student loans is 6% for 20 years at approximately $900 a month. I highly doubt I'll be able to pay off my undergraduate degree by even then. These private loans student loans are killing me. My family can't help me. And i'm on the edge of a cliff here. I don't want to be a slave to debt for the next 20 years of my life but it's not looking like i have many options. I'm banking on income based payments to help me for the federal loans because if they start asking for repayment then i'm royally fucked. I am 23 with at least $150k in total debt. I feel like my only options are to jump off a cliff or flee the country. Although i'm open to other suggestions. My fiancé doesn't like the idea of getting a second job despite all this as i likely won't have time to see her since we live an hour away from one another. I'm not working in an industry in which I even studied so there's little room for advancement and it's impossible looking for other jobs in this economy, especially with my degree. I feel like there's going to be an influx of you should've known better or understood what you were getting yourself into and to be honest I should have. But now i'm just trying to fix this mess. Please Help. [link] [comments]  |
| Downpayment bank statements and stock Posted: 04 Aug 2020 08:09 PM PDT 1)At which point do I need to liquidate stocks and ESPP/RSU to wire for downpayment funding to escrow? 2)Also, I have about 4 bank accounts with steady ~60 day balance. Is it possible to consolidate them all into one before wiring into escrow? It's to save wire fee. 3)Say for example, I have $10000 in beginning of July statement. At the end of July statement, if I have $20000 at end of July statement due to employment income. Will lender use this? Because the increase of $10000 is not ~60 day seasoned. [link] [comments]  |
| What does it mean when a creditor says something has been written off as "bad debt"? Posted: 04 Aug 2020 08:14 AM PDT My healthcare provider said I owed fees from two visits, visit 1 and visit 2. My first visit was for blood work, which they lost, and my second visit was to get blood drawn a second time. I paid for the first visit, and was told I didn't need to pay the second visit, so I didn't pay it. Billing emails me saying I owed for two visits. I sent them details from my credit card statement showing I had paid for visit 1, and reluctantly offered to pay for visit 2 once they adjusted my balance for what I had already paid. "Don't worry, this has been written off as bad debt", they said. A few months later I see that my credit score had tanked 125 points. When they said "this has been written off as bad debt" it seemed like they had concluded their efforts to collect this payment. I was not told it was going to collections. Could it have been misleading for them to say it was "written off" and then send it to collections? Currently I'm just gathering as much information as I can so I can make a complaint. Thanks! [link] [comments]  |
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