Personal Finance Weekend Discussion and Victory Thread for the week of August 28, 2020 |
- Weekend Discussion and Victory Thread for the week of August 28, 2020
- I made a spreadsheet for people who don't know how to budget! Ver 3.0
- Trying to enroll in health insurance through my employer, HR is claiming if I want to enroll, I have to retroactively pay last 2 months of premiums for insurance I did not have
- Was given Bonus instead of a Raise
- Tired of living paycheck-to-paycheck
- Overhead Damage on UHaul, how screwed am I?
- Talk to me about 529's
- Should I risk dental tourism to save money?
- $1000 ER Bill, I need advice
- How to get out of low paying jobs? (Bachelor’s)
- 24 Years Old - Should I just pay off my car?
- Loan Transfer from relative. Easiest way?
- Ally just sent out an email with incorrect security information. Do not listen to it.
- Are maxing retirement accounts worth it for less accessible money.
- Taxes I already paid sent to collections/garnishment
- homeless, need help figuring this out
- Software or website alternative to Personal Capital?
- How to budget without regular/steady income ?
- Mom's car got backed into in a parking lot and the other lady's insurance wants my mom to pay 25%! What should she do? More info below.
- Driving 2 hours away for work as a student?
- What to say if you have a car loan and need an extension during this pandemic.
- Put surplus toward Savings, Retirement, or Mortgage?
- Can I access 529 Plan money if I lose my citizenship?
- I'm 36 and very new to being responsible. Any help is very appreciated.
- Avoiding Sky High Car Insurance Rates by Getting a Motorcycle?
| Weekend Discussion and Victory Thread for the week of August 28, 2020 Posted: 28 Aug 2020 02:05 PM PDT If you need help, please check the PF Wiki to see if your question might be answered there.This thread is for personal finance questions, discussions, and sharing your success stories:
A big thank you to the many PFers who take time to answer other people's questions! [link] [comments]  | |||||||||||||||||||||
| I made a spreadsheet for people who don't know how to budget! Ver 3.0 Posted: 28 Aug 2020 10:21 AM PDT Hey all. So two years ago I shared my budgeting spreadsheet for the first time and to this day I still get messaged daily about it. I first made this spreadsheet to help myself understand how to budget- I've always been terrible at so I made a spreadsheet that broke it down into something manageable. It looks like This I grew up very poor and had NO sense of what or even HOW to start budgeting. I was taught that money would disappear if I didn't use it, so I just USED it. Even now I still feel anxiety about money and can spend recklessly if I'm not careful. Another problem I face is that I have ADHD, so impulse control can be hard, and it can also be hard to keep track of every purchase and focus on a bunch of aspects of a budget. What's new this year?It's been simplified! the calculations are more robust so the sheet is a bit simpler. I also changed the way that credit card info is tracked and removed the areas I didn't use. The entire spreadsheet has been rebuilt from scratch- allowing for better google sheets functions to be used. This spreadsheet is made so you only focus on ONE number. I had three goals in mind when I first made this sheet:
______________________________________ So how does it work? Instead of a spreadsheet that set up long term goals and showed you how much you were saving each month, I decided to make one that focused on one thing: Daily spendable. That way I could focus on just having ONE number to look at. I wouldn't be distracted by how much I had saved. it wouldn't focus on long term goals that are hard to visualize. Instead you only have to remember ONE number. The daily sendable gives you a limit on how much you can spend DAILY and still have enough to put into your savings and pay bills. Now In my real life, I've set this up so that I DONT see my savings at all, They get deducted from my paycheck each month and I don't see them unless an emergency pops up. ______________________________________ The main budget is divided into three core areas:
Here is a link to the spreadsheetThe sheet includes three charts:
I don't work well with a lot of budgets because I have issues imagining the big picture. By giving myself a daily/weekly/monthly budget I can make sure that on any given day I haven't spent more than I'm allowed to- and if I do I can see where I'm borrowing from or where that money is supposed to come from. NOTE: All Images in the spreadsheet are from vecteezy FAQ
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| Posted: 28 Aug 2020 06:31 AM PDT Hello reddit. I'm sorry if this is not the correct subreddit for this question-I will delete and repost elsewhere if someone can guide me in the right direction. As the title says, but probably does a poor job explaining, I am trying to enroll in an insurance plan through my employer. I was hired back in late April and have been under the impression that I would need to wait after the 90 days probationary period in order to qualify for benefits (Medical Coverage) I have reached out to my Human Resources department about enrollment and the HR Manager informed me that I have been eligible for benefits as of 7/1 (although she was under the impression it would have been 8/1). Apparently, if I would like to enroll in the insurance benefits now, I would need to retroactively pay the premiums from July and August. I have not chosen a plan and have not been given the opportunity to do so until I've reached out to HR about this the other day. The premium is $150/mo, so that's $300 I'd be paying, on top of this month's premium, for insurance that I never had or utilized. Is this legal or a legit demand? I never had the insurance to begin with, never chose a plan, was never given an insurance card or even a notice of becoming eligible; nothing. Any suggestions on how to move forward would be so appreciated. Thank you all so much. [link] [comments]  | |||||||||||||||||||||
| Was given Bonus instead of a Raise Posted: 28 Aug 2020 07:53 AM PDT Hello all, just need advice on how to go on about the situation. Beginning of this year I was offered a new job and I accepted as long as they promise a $5000 increase on my salary within 6 months. My contract says this clearly. However when my 6 months was up I received a $5000 bonus and no salary increase. I knew this was a mistake so I called my Sr. Project Manager and he told me he would let accounting know and they should fix it. Well its been 2 months, I have brought this up about 2-3 times within the 2 months to my project manager on asking what to do about the situation. I currently still have the $5000 ($3505 after taxes). I get paid next friday, if I do not see my salary increase, I am not going to lie. I will be a little upset. I normally never get mad but I declined a job that offered me $10,000 more because I assumed I would like the work environment better here and I am glad I made that decision. I personally want to go to accounting and tell her she needs to fix this issue but what is the right way on going about this? [link] [comments]  | |||||||||||||||||||||
| Tired of living paycheck-to-paycheck Posted: 28 Aug 2020 06:58 PM PDT I just turned 23 and am tired of where I'm at in my life. I've been working as a bartender since I was 19 and graduated with a film degree last year (with no luck of getting any permanent jobs in that field). I'm contantly worrying that I don't have money saved away, that I won't be paid enough to put anything away or that I won't have enough to spend on myself or be comfortbale with. People I know have plenty in their savings and (before COVID) had the ability to put money down for things like a weekend away, going out, whatever. Even doing stupid things like buying something without considering if they can afford it or not. Right now the steps I'm taking are; my friend recommended getting a well-paying job like his so I gave the agency my details and they'll contact me when something comes along, keep an eye out for jobs related to my degree, join mailing lists for jobs that would pay well, remember that because of the pandemic make sure any jobs that seem appealing are actually secure. Any advice on how to stay sane and get started with becoming more financially dependent? [link] [comments]  | |||||||||||||||||||||
| Overhead Damage on UHaul, how screwed am I? Posted: 28 Aug 2020 01:22 AM PDT Hi all, I just hit an overhead post going very slowly and caused the damage attached. I'm heading into the UHaul office soon to talk over how much I'll be billed but I'd like to know in your experience, how much you think it'll cost and what should I expect. Luckily no structural damage, just the corner brittle bumped shattered. I've seen prices online range so much. I really can't afford a $10k hit. Thank you for your help. http://imgur.com/gallery/9dxRt2M If it helps, this was in Canada. Edit: For anyone googling this question in the future (I know I couldn't find anything helpful). Base insurance doesn't cover overhead damage but, if you just shatter the corner plate, it's $320 CAD. If you happen to also mess up the crown, an extra $200ish. I just paid for the corner but also got discount for telling the truth because the lady was nice (and apparently everyone denies), so it only came to $260. Also a discount for paying on the spot. I think everyone complaining about their $5k to $10k bill online for "minor damage" probably actually ruined the entire roof. [link] [comments]  | |||||||||||||||||||||
| Posted: 28 Aug 2020 04:46 PM PDT So I have a 4 year old, a 2 year old and one on the way. Right now we have a little over 30k in my 2 kids 529's. At what point do you stop contributing and investing in a 529 and start putting the extra cash to other investment areas? I realize that you don't want to put too much in as it can only be used for education where other investment areas you can use as you please (education if you still need it or other purposes if you don't). What are your thoughts on this and can you share with me what you have done? [link] [comments]  | |||||||||||||||||||||
| Should I risk dental tourism to save money? Posted: 28 Aug 2020 04:23 PM PDT Hello, I was hoping to get an outside perspective on this. I currently have 4 impacted wisdom teeth that need to be removed as one of them is causing a lot of ongoing problems for example pain and extreme sensitivity. The entire cost of getting it done here in Iowa is about $2,800, but I've done research and found out I could get it done in Cancun Mexico for about the total price of $1,500. I work at a gas station, and have managed to put away about $4,500 in the last six months. For me this is a lot of money, and represents a lot of sacrifice. As I currently walk to work I anticipate needing to buy a car before winter hits which if you ever been to Iowa you know are winters are nasty. So I find myself going round and round. There is potentially a lot of savings (well to me it's a lot) but there is also the risk that comes from traveling during COVID, etc. So.. thoughts, advice, cruel jokes? All would be welcomed. P.S I should mention I don't have insurance so this is all out of pocket. I've decided to just go ahead, and have it here. There were a lot of good points made about issues like recovery and anesthesia that really got me thinking. Not to mention the risk of Covid kind of hangs over everything to. I appreciate everyone whose taken the time to respond, and helped me reach this decision. I hope you all have a wonderful weekend. [link] [comments]  | |||||||||||||||||||||
| Posted: 28 Aug 2020 05:25 PM PDT I left my old job on July 17, and on July 24 I had an ER visit. I have just sent the forms to extend my employer's insurance through COBRA, although it's taking some time to process. However, it's been a month and it looks like the bill was already sent to collections. It's about $1000, so not as much as I thought it would be, but still something I don't want to pay if my insurance was supposed to cover it. I thought COBRA retroactively covered so long as you pay the premiums. Does anyone else here have experience with this? I'm nervous about having to argue with collections or the hospital I went to. Should I just wait until I have confirmation from my former employer that my insurance has been extended? Thanks. [link] [comments]  | |||||||||||||||||||||
| How to get out of low paying jobs? (Bachelor’s) Posted: 28 Aug 2020 11:36 AM PDT I currently live with my parents in NYC and I'm trying to figure out how to get my life back on track. I graduated with a Bachelor's degree in Communications and I've been without direction for the past 3 years. I currently work for a major logistics company making $16.75 an hour and I feel like I'm going nowhere at my current job (data processing import coordinator). I also have Asperger's and ADHD, so I also have these factors playing against me. While I like my job, the benefits and the fact I'm reviewed positively, there's no growth for me. I feel stuck in a rut and while I've managed to pay off my college debt and save up to $28K. I'm trying to find my next direction and I need some help on potential paths I can take. [link] [comments]  | |||||||||||||||||||||
| 24 Years Old - Should I just pay off my car? Posted: 28 Aug 2020 06:44 PM PDT I am 24 years old and the only debt that I have is roughly $9.7K left on my car at 2.9% interest. I currently make $77K per year, have $10K in an emergency fund and $19K saved up for a downpayment on a house. ~$3.6K in checking. I am currently investing 18% into my Roth 401K with an additional 6% match. Current 401K balance is $31K. Currently renting an apartment and after expenses I have on average $700 to $1000 left at the end of each month. What I have been doing the past 6 months or so is take half of my leftover savings from each month and applying half of it to my car payment and the other half to my downpayment fund. My question is - should I continue this method or just pay off my car with the money I have saved for a house? Thank you in advance for any input! [link] [comments]  | |||||||||||||||||||||
| Loan Transfer from relative. Easiest way? Posted: 28 Aug 2020 06:43 PM PDT Hopefully someone can give me some insight. My dad took out a loan for a car that I drive. Still owe about $22k. I want to take over the loan. How do I go about this? Do I have to take out a private party auto loan? Say I do take out a loan, will he have to pay taxes when the transfer happens. If I buy it from him he would sell it to me at his payoff amount. Thank you in advance. [link] [comments]  | |||||||||||||||||||||
| Ally just sent out an email with incorrect security information. Do not listen to it. Posted: 28 Aug 2020 01:03 PM PDT Ally just sent out an email that said:
This is incorrect! It's more secure to have your one-time authentication code delivered by email. SIM jacking is becoming a more common attack, where someone with information about you (like your address, social security number, mother's maiden name), calls your phone provider and pretends to be you requesting to move your number to a new phone. This is a social engineering attack and since phone reps have the power to do this, there isn't much you can do to protect yourself. The best way to protect yourself is to avoid using SMS authentication whenever you can. Email on the other hand can be protected through a few different methods: setting a long complex password, with a password manager, and using some form of software authentication, like Google Authenticator or Authy. This generates a 2FA code directly on your phone or computer only, so it's much harder to steal. This would actually be the best 2FA method for your bank as well, but basically zero banks support this. Most big email providers, like Gmail, Outlook, and Yahoo support this kind of 2FA. Email is also more flexible for you, since it only depends on an internet connection, so if you work in an office basement with wifi but no cell signal, or you're in a different country and use a data-only mobile hotspot, you'll be able to receive 2FA codes, while SMS ones wouldn't be able to go through. Do not turn off email authentication for your bank. If anything, turn off SMS authentication. [link] [comments]  | |||||||||||||||||||||
| Are maxing retirement accounts worth it for less accessible money. Posted: 28 Aug 2020 06:21 AM PDT I've been lurking for a while and now it's my turn to figure this out. I want to save as much money as we (mid 20's) can, currently maxing out HSA, 17% (incl. employer match) 401k, and limit on one ROTH. My wife on the other hand is afraid that if we put around 30% or more of our total income away in retirement accounts, we can touch it in case we need it. We have 3-4 month emergency fund (in HYSA) and 3k in a taxable investing account. I understand it's more advantageous to keep the money in tax deferred, or tax free accounts, but she's worried that it means we have no access to that money in case we need it. Should we really try to max out 401k's even if it means we only have cash for monthly expenses? Also, should I still contribute to ROTH IRA even though I haven't maxed out my 401k? My financial goals, see if we can FIRE at 50, and/or just lots of charitable giving. Her's: travel and a home within 5yrs (mine too). In all my accounts I hold various vanguard mutual funds. We have no debts. [link] [comments]  | |||||||||||||||||||||
| Taxes I already paid sent to collections/garnishment Posted: 28 Aug 2020 12:15 PM PDT I got a scary call today from a dor officer that I owed taxes for income that I paid off almost 2 years ago. He was notifying me that they were sent to collections and wage garnishment already!!! I was given no other notification leading up to this that I might owe something. After a bunch of back and forth with dor, I was able to pretty quickly get it squared away that this was due to how the payment was coded and the amount owed was changed to 0 and the garnishment release sent to my employer. Now I'm about to start the process of trying to build a house and this has got me really worried that there will be something on my credit report about having had a tax lien, I checked my score today and nothing has changed but needed to know if there is anything I need to do if something shows up? This is in MS. Thanks in advance [link] [comments]  | |||||||||||||||||||||
| homeless, need help figuring this out Posted: 28 Aug 2020 07:01 PM PDT wondering if anyone can help me figure out my life situation currently. I'm 23 years old, never had a credit card, never taken out a loan, and paid for my community college with cash. I suppose this means I have non-existent credit. my parents kicked me out of the house 2.5 months ago, so I'm currently homeless. I have $3000 cash to my name, and zero debt (obviously, since I've never had a credit card or loan). I've been trying to rent properties around ~$800-900 a month, but nobody is willing to work with me. I make all of my income fabricating custom performance automotive parts and TIG welding, so I need this garage space to work and make my money. any tips or tricks? [link] [comments]  | |||||||||||||||||||||
| Software or website alternative to Personal Capital? Posted: 28 Aug 2020 04:12 PM PDT I have been trying to use Personal Capital for my retirement planning but it's just too much. Is there something out there that is similar but not as complicated? Like the YNAB of retirement planning? [link] [comments]  | |||||||||||||||||||||
| How to budget without regular/steady income ? Posted: 28 Aug 2020 05:16 PM PDT I've seen a ton of budgeting spreadsheets and apps, etc and the main thing with budgeting is how much you make. I don't work a regular schedule or shifts, especially now in the pandemic. Should I just average out what I made last year (via my tax return) and call that my monthly? What is best practice here? [link] [comments]  | |||||||||||||||||||||
| Posted: 28 Aug 2020 03:55 PM PDT My mom was driving down an aisle in a parking lot when a pedestrian crossed. She stopped to let them pass. While stopped, a parked car, without looking to see her, backed out and hit her, causing a dent in my mom's car. My mom saw the reverse lights and honked to try and stop the car but it was too fast and she got hit. My mom called the other lady's insurance company who told her that she was responsible for paying 25% -- some BS about needing to always be alert in parking lots, etc. What should my mom do? Should she call her own insurance and have them push back? Surely she was not at fault if the lady didn't look and just backed straight into her? Thanks. [link] [comments]  | |||||||||||||||||||||
| Driving 2 hours away for work as a student? Posted: 28 Aug 2020 11:59 AM PDT I currently have an apartment charging me $700 a month to live by my university which is two hours away (126 miles) from home. Four days a week I am in my hometown to work at my $15 h/r job (Sunday through Wednesday) and then I drive back Thursday morning to live the weekend at my apartment. Is this financially viable? I work 30 hours a week and all the jobs at my university town are nowhere near paying above $12 h/r [link] [comments]  | |||||||||||||||||||||
| What to say if you have a car loan and need an extension during this pandemic. Posted: 28 Aug 2020 06:28 AM PDT https://www.todaysconveyancer.co.uk/main-news/repossesion-cases-restart-next-month/ Many of you may not need this, but maybe you have family or friends who are struggling and they might need this info, consider passing it on. My purpose in writing this is to let you know that while financial institutions stopped repoing vehicles for a few months, and in some areas have still suppressed repossessions, many lenders have returned to normal now and are repoing vehicles. More to the point, far too many people are either not talking to their finance company at all or if they do, for some reason they are not stating that they have been impacted by COVID19, even when agents give them obvious hints like "was the loss of your job due to anything in particular, such as anything that is broadly going on?" If people do not state that their difficulties are due to COVID19, or go so far as to deny COVID19 as being the cause of their struggles, agents cannot give them a COVID19 disaster relief extension. The goal is that hopefully this information finds its way to those who need this information. IMPORTANT! Accounts created after March 16th, 2020 are not eligible for a COVID19 disaster relief extension. So DO NOT run out and finance a car now hoping to not have to pay for a long time, you would be an absolute fool to do that. Some banks call them extensions and some call them deferments. See the bottom of this post where I explain what an extension does. Current and Past Due customers can get the extensions (with limits, I think if you have paid way ahead you may have to wait until you are closer to being at risk of being past due). The rules have changed over the past 6 months and literally in the past week. We used to be handing out double extensions, now we can only give 1 at a time. Current rules at my company: Current Max # of Disaster Relief Extensions for COVID19: Six (6) Only one (1) COVID19 Extension may be given at a time. Must be more than 20 days since the last extension was given (was 30 days but they reduced it for proactive customers). If you had received a double extension before the rule change, now has to be more than 50 days since the double was given (was 60 days, again, changed for proactive customers) You need to tell the agent that you were "impacted by the COVID19 shutdown". Here is the list of things we have to select from in the drop down for a disaster relief override: Job Loss, Hours reduced more than 50%, Hours reduced less than 50%, Increased Monthly Expenses, "Uncertainty about Future Income". Yes, literally just not being sure if you will have a job in the next few months counts, although for simplicity sake I would just go with you lost your job or were furloughed or suffered a reduction in income from lack of work if self-employed. Then we ask you questions to measure the impact of COVID19: Do you know the duration of this financial impact? (at least 3 months or "Unknown" is fine) Type of employment? (Hourly, Salaried, Self-employed, Retired, Unemployed) Industry you work in? (health care, retail, education, etc) What is your annual household income? (less than $30k, $31-50k, $51-75k, etc) How many vehicles do you have in your household? (1, 2, 3 or more) Is this loan primary? (just say yes) Do not worry about the questionnaire or that it will disqualify you, the company is just trying to measure the impact of COVID19 upon their customers and the economy. If you really have not been impacted by COVID19 then you may be out of luck. Just be aware that ANY negative impact from COVID19 (such as the example, uncertainty about future income) may qualify you, and we do not require proof of impact at this time. The reason you need to specifically say you have been impacted by COVID19 is, a COVID19 Extension is an override of the normal process, basically you meet the requirements and we can give it to you, no strings attached. If you try to go through the normal process for an extension (saying you have a short-term situation that is resolved and you can stay current going forward but cannot do more than your RMP and just need help getting current), you have to be able to pay the required amount to get current using 1 or 2 extensions, and you may not be eligible at all. Some accounts are in a control group that cannot get normal extensions, so may have had previous extensions or they have not had the loan long enough to get one. So if you try to go the normal route, there is a good chance you may be denied. Now let me explain what an extension is: Quick note - If you are current then yes an extension give you more time to pay before you fall past due and become delinquent, at the cost extra interest accruing. I am going to talk about when you are already past due. Let us say your due date is on the 30th and you are 4 months past due, behind for February, March, April, and May. When you are behind and you make a regular monthly payment, it pays the most past due payment, in this case February. You need to fully finish off a month to push the account back 30 days in delinquency, so if your Regular Monthly Payment (RMP) is $500 and you only pay $490 toward February, you could still be 4 months past due until you pay that $10. Now let us say you cannot make your RMP, but due to COVID19 I could give you an extension. The extension will take February and put it to the end of the loan, making you 3 months past due instead of 4. This DOES NOT give you more time to make a payment in the way you are thinking. You are still 3 months past due, you need to make a payment as soon as possible, but if at 4 months past due your account is in the repossessions department while if you were only 3 months past due your account would be in "Collections", then that gives you more time to get the money together. In this example your due date is the 30th and today is the 2nd, so if I gave you an extension today, and then you pay in a week on June 12th, then you would be only 2 months past due until June 30th, when you would come back up to 3 months behind. But that is certainly better than being in the Repo Dept when we go back to Business-As-Usual. Be aware, the extension will cost you more money. How your simple interest car loan should work is this: Annual Percentage Rate (APR) times (remaining principal balance) divided by 365 days in the year = Daily Interest (Per Diem). Interest is calculated daily, accrues daily, even when you are past due, you pay interest first then principal. Unpaid principal goes to the end of the loan and becomes a "balloon payment". The balloon payment comes due immediately once your loan "matures", maturity meaning the contract says the interest must stop accruing and the loan should have been paid off by this point. Basically, here is how to think about it. If you have a $500 RMP, and you do an extension, worst case scenario, anticipate paying $500 extra in interest on your loan and at the end of your loan, you would still have to pay the $500 of unpaid principal from the extension (plus any unpaid principal you built up from being past due before you got the extension). Now it may not be a full $500 of unpaid principal because you may not pay $500 extra in interest, it depends on how everything calculates, but I frame it like that to make you understand the potential cost. Now, perhaps you do not want a balloon payment at the end of your loan. When things get better for you and you have gotten current, find out what your balloon payment is, how many months you have left on your loan, and divide the balloon payment by that many months, and that is how much extra you need to pay every month in order to eliminate that balloon payment by your maturity date. Again, you might not need an extension, but perhaps your family and friends do, please pass this on to anyone you think might need it. Take care of yourselves. [link] [comments]  | |||||||||||||||||||||
| Put surplus toward Savings, Retirement, or Mortgage? Posted: 28 Aug 2020 06:01 PM PDT Howdy All, Long time listener, first time caller. My wife (33) and I (31) recently decided to pull our two daughters out of daycare because of underlying health conditions and hire a nanny. In addition to being safer for the girls, we'll also be saving around $1,000 a month (13% of our monthly takehome). Our current budget looks like this: Combined Monthly Takehome: $7,700
We don't have any credit card debt and have a 6 month emergency fund in savings. We're both contributing 9% to our 401Ks and getting 4.5% matched by our employers. I don't have any investment experience and am looking for advice on how to allocate this extra money - into savings, towards the mortgage (to get PMI to drop off quicker and save on interest), or start an IRA? Any insight would be greatly appreciated. Thanks! [link] [comments]  | |||||||||||||||||||||
| Can I access 529 Plan money if I lose my citizenship? Posted: 28 Aug 2020 06:01 PM PDT This may not be the best place to post this question but I can't think of anywhere more suitable. I have a (United States) 529 Plan with a significant amount of money in it relative to my net worth. I am planning on obtaining German citizenship in the future after living in Germany for some time. Now, Germany doesn't usually like dual citizenship and usually requires you to renounce your previous citizenship, in my case, American. One way to keep your previous citizenship and become a dual citizen is to prove that giving your foreign citizenship would cause: "in giving up his or her foreign citizenship the foreigner would incur substantial disadvantages beyond the loss of his or her civic rights, in particular disadvantages of a financial or property-related nature" -According to section 12 of Germany's Nationality Act of 1913. So my question is: would the loss of my American citizenship prevent me from accessing the money in my 529 Plan, thus allowing me to use that as a reason to keep my American citizenship? Thanks! [link] [comments]  | |||||||||||||||||||||
| I'm 36 and very new to being responsible. Any help is very appreciated. Posted: 28 Aug 2020 07:12 AM PDT So after many years of part-time work and crime (did my time) I find myself in a very unfamiliar position; responsible adult. I've been making a lot of money moves lately and wanted a little input on it. I have a new mortgage with extra principle payment which should take 22 years to pay off. I make about 42k a year and 2k in bonuses with yearly raises. 700ish some months from SSI (not 5 paycheck months and not 2 bonus months). Family of 5 (3 kids 8 and under) with 2.5k minium for bills and groceries a month. I maxed my 401k to 6% with a .25 employer match (1k current balance). The Prudential calculated I'll be a couple k short a month for retirement at 65 but I'm not overly worried about it since my wife doesn't work now but still has a social security and will work again when the kids are older. And we should come into some family money before then (~100k). We're not the best with budgeting but I think we could stick to one if it was generous. Basically I'm thinking we could put $500 more a month away and possibly increase it if we feel comfortable. Also we get a pretty nice tax return from EITC. We have about 10k cash (tax return, not a violation of SSI). Should it be Roth IRA to fatten retirement or is there a much smarter plan staring me in the face? Thank you for reading and any input given. [link] [comments]  | |||||||||||||||||||||
| Avoiding Sky High Car Insurance Rates by Getting a Motorcycle? Posted: 28 Aug 2020 02:49 PM PDT Hey everyone, I'm in a bit of a situation when it comes to my car insurance, and am looking ways to save. I am a 21 year old male with a messy driving record from this past year or so. This has led to my insurance agent being able to find a $600 insurance rate at the lowest, and my subsequent jump to Root Insurance (where I was able to bring that down to a little over $300). My question - Would it be at all feasible or worth it to switch to a motorcycle after this coming Winter and save on insurance? My commute is only a couple miles down the road. Will my MVR follow me to the bike, or will I be able to get a rate much lower than $300 by going that route? Any advice would be much appreciated. This year has been a massive ramp-up in financial stress thanks to medical bills and now insurance. All very new to me. [link] [comments]  |
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