Personal Finance 8% employee match. Would I be crazy to say no? |
- 8% employee match. Would I be crazy to say no?
- Found old Coca Cola stock certificate gifted to me by my deceased Grandfather in 1993. Not sure how to claim the funds, or how to calculate the total value.
- Update: Bought a house on 8/31. Got a letter from insurance on 9/1 saying I need a new roof by 10/6 or they're dropping my insurance.
- Spouse and baby losing insurance but my employee plan is too costly.
- Anyone ever take up their bank on insurance offers in the mail?
- Our Evernote account has been broken in. One of documents has both our SSNs and our birth certificates. Question about "initial" vs "extended" fraud alerts
- Should I keep saving, or pay?
- Screwed over by Sallie Mae
- Parents have about $25K in cash. I want to give them ideas on how to grow that money for retirement. They’re in their mid 40s.
- Not sure if this fits here but if anyone can please help: Got charged $980 extra on a package by FedEx and they won't refund me
- Survivor Benefits - Widower w/ toddler
- Any Podcast recommendations?
- Mortgage Refi (Again?)
- Are people actually paying 30% + APR consolidation loans???
- Debt collector had my address wrong, did credit damage for years
- Rent will take 45% of my take home pay, but no debt, 3 mile commute?
- 16 year old making under 6000 dollars a year.
- Should I sell my car for something cheaper to avoid college debt?
- I just received a Wells Fargo rate lock extension fee refund of just over $1000. However...
- Experiences with robo advisors (Betterment / Wealthfront)?
- Investing in short-term bonds to save for a house?
- Why is it a bad idea to focus on the monthly payment when buying a car?
- Wife's job bought out about 1.5 years ago -- Can anyone tell me where this might be going?
| 8% employee match. Would I be crazy to say no? Posted: 08 Sep 2020 04:44 AM PDT I work for a nonprofit and they emailed me today about signing up for the 403B plan. If I put 5% of my paycheck into it, they will add 8%. I make a little over $35k with my emergency fund fully funded, a small investment portfolio, around $60k in student loans, and $13k left in a car loan. My budget is around $1300-1500 a month with a post tax income of around $2200 a month. My gut says I should absolutely jump on this but that little voice in my head is saying wait. Would I be crazy not to take advantage of the employee match? Thanks for any help Update: filing out the paperwork today to take advantage of this. Thanks for all your input. Update 2: I have enrolled in the 403(b) to get the 8% contribution. Y'all can stop telling me to do it now. Update 3: it keeps being asked so I'll add that the money is 100% vested immediately. [link] [comments]  |
| Posted: 07 Sep 2020 02:33 PM PDT Not really sure about how to go about claiming my property here. I've had this sitting in my closet since my parents found it a few years back. Also not sure how to value it. At the time of the gift, it was 5 shares of Coca Cola. However, the stock has split twice since then, so theoretically it should be 20 shares. Since Coca Cola is worth $51 right now, I would think this certificate is worth at least $1,000. However, I'm also wondering about how dividends would be handled. Am I technically also entitled to dividends paid out over the last 27 years? Any help is greatly appreciated! UPDATE Things are looking good! After an hour on the phone with Fidelity, they were useless and provided no help. In fact, the guy I was talking to knew less about this than I do (mostly thanks to the knowledge shared below) Next I called the Computershares phone number that was listed on the Coca Cola shareholder services website. They were able to use my social security number and childhood address to locate the old account. Turns out there is actually an identical block of 5 shares of a Coca Cola that they show in my name as well! Not sure if this is because of the split, or if there's more money out there that I just don't have the physical certificate for. Computershares confirmed that the account has a zero balance because the funds were escheated by the state of North Carolina (a few of you warned me of this possibility, so thanks). Thankfully, NC does NOT automatically liquidate stocks! Their website explicitly states that if I would like to reclaim my shares I can submit a claim and they will transfer ownership back to me. Plan is to call them and submit a claim tomorrow! [link] [comments]  |
| Posted: 08 Sep 2020 09:54 AM PDT I posted about this here a few days ago. So I signed a contract yesterday for a new roof with a local roofer for $4900, very low compared to other quotes. I looked at my credit card statement this morning and Geico refunded me the equivalent of 329 days of home owners insurance which is when they said they would terminate my coverage if I did not get my roof replaced. I have not heard from the insurance agent assigned to my case since I spoke to her last Tuesday about a possible roof replacement extension due to covid. So I guess they just dropped my insurance? I'm baffled. I've had auto and renters with them for two years. I don't live in a flood or hazardous area. I live in NJ outside of Philly but away from any major water sources. So are they are really dropping me just for the roof which they gave me almost no time to comply with? The refund went through 9/4. I settled on the house 8/31. My house is small, only 1225 square feet built in 1950. I'm very alarmed by the lack of communication from them. Should I expect behavior like this from other insurance companies and I guess I'll go get new homeowner's now that is applicable on 10/6 which is the original date Geico said they would stop insuring me if I didn't get the roof fixed. [link] [comments]  |
| Spouse and baby losing insurance but my employee plan is too costly. Posted: 08 Sep 2020 07:00 AM PDT Basically I'm trying to see how fucked we are. My husband is thinking about quitting his job to watch our baby as I go back to work after maternity leave. He makes 40000 a year and his insurance premiums were about to go up 50%, making the insurance 850 a month for just him and our daughter. Daycare was going to be 820 a month. We would need a new car because we work on opposite sides of the city, which would be about 500 a month with insurance (we live in Florida and it is absurdly expensive here). He currently works 50-60 hours a week and the pay barely justified it. I make 46500 since I took maternity leave I took a"pay cut". We have 18000 saved up but would like to buy a house soon. I currently get paid about 3270 a month. Other expenses: Electric: 100 Groceries: 400 Internet: 50 Car insurance currently: 220 Car payment: 270 Debt: 300 Rent: 1500 I think I'm forgetting something but can't think of what. I am going to lose my insurance coverage at the end of the year. I looked into the healthcare exchange and we don't qualify for any subsidies because my employer offers an "affordable" plan for me but no coverage for my family so it would cost 1200 a month to cover everyone. We do not qualify for CHIP in Florida. What can we do? Do we have any other options? It's scary to think about sending our daughter to daycare down here, and my husband never saw her because she went to bed before he got home. We want to do what is best for our family without wasting our entire savings. [link] [comments]  |
| Anyone ever take up their bank on insurance offers in the mail? Posted: 08 Sep 2020 07:27 PM PDT I got this in the mail and I'm wondering if people use these regularly. With the rising costs of healthcare, I want to make sure I'm prepared in an emergency, especially since I have a HDHP so I can use an HSA. So... does the hive mind have any positive or negative experiences with these insurance policies offered through banks? Thoughts? TIA. [link] [comments]  |
| Posted: 08 Sep 2020 04:40 PM PDT Hello! I'm a regular on this sub (lurking mostly). Feeling a bit skittish and violated at the moment, using a throwaway account for this. This morning, wife got email alert from Evernote that there is a suspicious login activity on her account. I checked it out for her (ofc not interacting w/email directly - rather, went to Evernote website directly). Indeed, someone in another country logged into her account. We revoked access to all devices (it was just 2 devices, her computer and this foreigner). Quickly added 2FA on her account, changed pass to something much stronger. Looked at what kind of info the person could have obtained. I had shared a handful of documents with her Evernote account years ago. Unfortunately, one of those docs happens to be a photocopy of birth certificate of one of our kids, with both of our SSNs on it. Photocopies of our own birth certificates are also in the list. I know how much damange can be done if someone had our birth certificates and also our SSNs. We have already placed credit freeze on everything for both of our accounts (6 total.. Experian, Equifax, Transunion x2) - surprisingly easy to do (thankfully!). That's done. We also obtained latest copies of credit reports. No suspicious activity on them when we checked, but of course that doesn't mean we're out of the woods, who knows what the person would do with our information eventually. I'm working ATM on getting pin numbers from IRS, notifying SSA of the breach, going through our accounts (especially financial ones and anything of high importance) to ensure we have 2FA and strong passwords - we already have both of those for almost everything, it's just unfortunate we completely overlooked and forgot about wife's Evernote account that has been dormant for a while. The next thing I'm working on is placing fraud alerts. Here's where I have an question - there are two choices: Initial fraud alert (1 year), or extended fraud alert (7 years). I read the FAQs, etc.. to my understanding, extended fraud alerts are free only for victims of identity thefts. Question: are we already considered victims of identity thefts, or is that designation reserved only for when the data from breach of security is actually used against us (like attempts to apply for credit cards in our names, etc)? I would think yes, we are victims of identity theft here, but is that how they (credit reporting agencies) also see it - will they add extended fraud alerts on our account for free? Thanks in advance - I'll update this post in case I need to add some more clarifications or updates on our situation. Updates: Obtained filing pin from IRS (luckily I lived in one of 20 states where I can opt-in for the filing pin). Also, thanks to recommendation by one of comments here I've also placed a freeze on Innovis and requested copies of reports. Placed 1-year fraud alerts on both of our accounts with all 3 credit reporting agencies (still need to figure out if we want 7-year fraud alerts that is granted only to "victims of identity theft" - are we really one yet just by mere Evernote login breach?) [link] [comments]  |
| Posted: 08 Sep 2020 01:09 PM PDT Background: I have $1020 worth of revolving credit card debt, nothing over due, just had to leave a situation and it resulted in maxing out my cards. With my current budget, it will be paid off by the end of October. I have $800 saved for a new apartment. Would it be more prudent to use the $800 I have and pay off the debt, or continue saving, and pay off the rest of the debt next month. Note: have I no savings other than the $800, I am trying to get my life back together. Sorry for any bad formatting or wording, I'm just trying to get some advice [link] [comments]  |
| Posted: 08 Sep 2020 05:17 PM PDT Any help here would be greatly appreciated. My girlfriend is in grad school and was issued student loans owned by Sallie Mae. She is still in school half time while working a full time job and has been consistently since the loan was issued. She received an email from Sallie Mae a few weeks ago saying she was past due on her account which doesn't make sense because, as I stated, is in school and therefore not yet obligated to make payments against that loan. Since receiving that email she has contacted Sallie Mae at least 9 times without resolution. She was told to fill out a form on one occasion asserting that she was still meeting minimum requirements to defer payments (she did) and was assured it would be resolved. It wasn't. On four separate calls she was given the same empty resolutions with different answers each time. After several attempts to resolve, she finally decided (at the recommendation of the representative she was speaking with) to temporarily put her loan in forbearance with a payment of $50. She decided to take this route as a last resort (even though she's still in school) because this week she was going to be erroneously 60 days past due meaning Sallie Mae would send it to her credit report. So after all that she received yet another email today from Sallie Mae saying that her loan is now 60 days past due and will be sending it to the credit bureau even after she PUT IT IN FORBEARANCE and was assured it would be resolved YET AGAIN. I am so incredibly pissed. I honestly have absolutely no idea what to do at all. Talking to the lender gets us nowhere because either they have the most incompetent employees on the planet who have absolutely no ability to understand procedures, communication, etc... or it's intentional. At any rate, we really need advice. Our first thought is obviously to sue them which I've never had to do so don't even know where to start. I don't even know if it's possible to rectify her credit at this point, but I'm so fucking tired of corporations, financial institutions, etc... dehumanizing us, stealing from us, and making our lives pure hell. Thanks for listening. [link] [comments]  |
| Posted: 08 Sep 2020 10:08 AM PDT My dad started his own company a couple of years ago. They have just started to be able to save some money, about $13K, plus they sold their Yukon which they no longer needed for $17K. They used $5K to buy a smaller used SUV for the occasional family trips when I visit. They have $25K left, and growing, and I want them to start investing for their retirement. How can I go about this? Any books or websites I can read, maybe even some in Spanish since they'll be able to understand it better? Growing up, good money practices weren't really mentioned so I'm pretty sure they can use the help. Thanks in advance! [link] [comments]  |
| Posted: 08 Sep 2020 03:55 PM PDT I have already posted on /r/FedEx but I thought I would also ask here just in case. We own a fedex shipper store and we sent a package out for a customer that is 18 lb in a 21 x 11 x 12 box. The package was said to be audited/scanned twice, both registered as 170.3 lb that was rounded up to 171 lb. So our total came out to be $980 more than what it should be. I called and they said there's nothing that can be done, especially because Fedex is doing a no money guarantee during the pandemic. I need proof that it was 18 lb, so I called the recipient begging for help. He refused, and I asked him if I can get the phone numbers of the people that came to our store to send it. He refused. I don't know what to do. We can't afford to lose $980 right now, that's a ton of money for us, and we're barely hanging on. We're already suffering because of the pandemic. Realistically, a box that small can't weigh that much either... I feel it may have been possible for them to have been lazy about it, resulting in that mistake. What are my options? How can I prove to them that it was really only 18 lb? Do I take Fedex to small claims court? [link] [comments]  |
| Survivor Benefits - Widower w/ toddler Posted: 08 Sep 2020 09:47 AM PDT My wife (28) passed recently and I had thought that both my 2yr old daughter and I would be receiving survivor benefits. I called SS to ask them and they informed me only my daughter will. However, everything on their site and from what I'm reading elsewhere leads me to believe that rep didn't know what they were talking about. If anyone could point me in the right direction it would be greatly appreciated, thanks! Edit: Update: I called SS today and got a more helpful rep. I have an appt scheduled to sort this out [link] [comments]  |
| Posted: 08 Sep 2020 09:50 AM PDT I've been getting really into personal finance and getting my budgeting right. I listen to podcasts while at my desk all day. Are there any podcasts you'd recommend that are relevant to this sub? [link] [comments]  |
| Posted: 08 Sep 2020 05:46 PM PDT What am I missing here (AKA is this a good idea)? Backstory: We refi'd with a local CU at the beginning of the pandemic for 30 yrs at 3.25% and now pay P&I $1887/mth which saved us ~$800/mth and allowed us to combine our first and second mortgages. Closing costs were reasonable and paid outside of the loan and we had a minimal lenders credit. We are 3 months into this new loan. After a random convo with a friend this weekend, they mentioned they got a phenomenal deal with LoanDepot so of course curiosity got the best of me. Today, LoanDepot quoted me in writing 30 years at 2.5% which will reduce our P&I to $1706/mth (Potential Savings: $181/mth -->$2172/yr -->$65,160/30 yrs). Additionally the lender credits are stupid high meaning we would potentially bring no more than $1000 to close. We could also potentially waive the appraisal. Is this unicorn too good to be true? What am I missing about refinancing twice in six months, other than having our credit hard pulled twice and having to pay state taxes/stamps again? Initially, we liked the idea of having our mortgage with a CU but honestly the experience hasn't been so great that we feel an allegiance. Any red flags about LoadDepot other than they are very slow to close? Any tax implications? Anything else? [link] [comments]  |
| Are people actually paying 30% + APR consolidation loans??? Posted: 08 Sep 2020 06:43 PM PDT I've been looking for a way to get rid of $7,400 credit card debt and the only loans I'm getting are mid 30s ~ APR. It seems excessive. I make 50k~ on average self employed. And my credit score is in the 590s due to this credit card debt. I pay the monthly fees on time but it never makes a dent in credit score... Is the best option really just paying it off slowly on a monthly basis? [link] [comments]  |
| Debt collector had my address wrong, did credit damage for years Posted: 08 Sep 2020 03:27 PM PDT I'll try to keep it short and sweet. I went to my bank to get a mortgage loan, they ran my credit (I had ~800 on all three last time I checked, which was 2 years ago), and discovered that it had dropped over 100 points due to a debt collection record for $100. The bank was kind enough to tell me the name of the collection agency and the phone number listed (which happened to be not in service when I called). I had no prior correspondence from a debt collection agency and had no idea what the source of it might be. I gave it my best shot Googling their name and luckily I found a number for the correct collection agency and upon speaking with them (I had no account or reference number to provide, obviously) they found that there is in fact an account in my name. I asked for a debt statement since I have not received anything and didn't know what this was about. They read back to me where they intend to send the statement, and that's when we discovered the problem. They had my street and zip code wrong, so there was no chance it would ever be delivered. It was something along the lines of my street is say "Green Tree" but they had "Green Lake" instead, and had only half the digits of my zip code right. They swiftly blamed their client for providing them the wrong address. I said I will be waiting for that statement. A week later I get the statement. Sure enough, it's one of the doctors I visited two years ago, sure enough, the bill items are correct. I checked in my file cabinet and found other paid bills from that doctor, but not this one. I never got that bill. So this week I call the debt collection agency to clarify the situation that I never declined to pay any debt and to look at my account and see that they had my address wrong and that they did a lot of damage for no good reason. They said they had referred the matter to their "Compliance Department" when I called originally. I asked for an ETA. No ETA available they said. I asked for contact information for their "Compliance Department", they declined to provide it. I got to speak to a "senior" collector who aggressively tried to collect a payment from me, deflecting my concern. I kept telling them that I don't disagree that I owe for the procedure, but I want to keep the matter open until they have some answers on how they intend to undo their mistake. They just kept talking over me. Rightly so I started cursing until they got quiet again. I told them my concern is that if I pay they will just sweep their mistake under the rug and the mistake will never be corrected if I just pay. They hung up. I don't disagree that I owe the $100 ($80, plus their collection fee, which I'm not sure I even owe if the mistake is theirs). I don't really have the time to wait for a department that may or may not exist, or may or may not contact me. Should I be getting a lawyer? What kind of lawyer? They did a lot of damage from a mistake they or their client made. I need their mess gone off my credit report. I'm happy to pay for the services rendered to me by the Dr.'s office, as I always have. Who do I talk to to get them straightened out (quickly)? ...This isn't short and sweet, I guess. [link] [comments]  |
| Rent will take 45% of my take home pay, but no debt, 3 mile commute? Posted: 08 Sep 2020 07:46 PM PDT Would you take that option above? Close to stores and other stuff as well. Car payment could be coming in 1-2 years. No traffic commute, could walk. [link] [comments]  |
| 16 year old making under 6000 dollars a year. Posted: 08 Sep 2020 03:08 PM PDT I am 16 and I started a job recently where I should make less than 6300 dollars. Is it true that the IRS does not consider that income and thus won't be reported as household income? I am only working for about 6 months to save up for a car. [link] [comments]  |
| Should I sell my car for something cheaper to avoid college debt? Posted: 08 Sep 2020 12:03 PM PDT I'm going to be transferring into school this spring (if campus is open). I currently have a 2014 Prius that sells for around $9-10k in my area. I currently have $5k left to pay back on my car, which I plan on paying off by January which will leave my only cost to $130/month in insurance. I have been wondering if I should get something more modest (around $4-5k) and selling my car so that I can save the remainder for my expenses at college. I really love my car, but I would also like to come out debt free. For reference: I would save about $5k by getting a different car. My tuition and books are paid for, which leaves rent, utilities, food, and misc (~$1200 a month, $1300 w/ car insurance). I plan to work part-time which should break even, but I'll have no money leftover for savings. I plan to live with my parents during the off-months. [link] [comments]  |
| I just received a Wells Fargo rate lock extension fee refund of just over $1000. However... Posted: 08 Sep 2020 05:59 PM PDT This was for "fees for mortgage rate lock extensions requested from Sept. 16, 2013, through Feb. 28, 2017" according to them. But I had a mortgage with them from Dec 2004 through Dec 2011, not the time period they are on the hook for. Do I keep this money, or could it truly be a mistake? [link] [comments]  |
| Experiences with robo advisors (Betterment / Wealthfront)? Posted: 08 Sep 2020 04:09 PM PDT My friends have recently started using robo advisors, which I know nothing about. For those who do use it, what has your experience been like and do you think you're seeing better returns vs. other investment methods? I currently only invest in diversified mutual funds, with lower management fees than that charged by Betterment / Wealthfront. [link] [comments]  |
| Investing in short-term bonds to save for a house? Posted: 08 Sep 2020 06:47 PM PDT Hi all - Right now I have my savings in a HYSA. I currently have a good emergency fund saved up, and want to start saving for house. Would it be a good idea to eventually use some of that money to buy short-term bonds and take on some risk for a higher % back over time? I'm a 26 y/o, and probably won't be buying until I'm in my early thirties. [link] [comments]  |
| Why is it a bad idea to focus on the monthly payment when buying a car? Posted: 08 Sep 2020 06:43 PM PDT In a lot of car-buying threads I see a lot of people saying you should only focus on the "out the door price" and not get hung up on the monthly payment, but why? If I know the MSRP of the car I want, have my down payment and know how much I'm comfortable allocating to my car payment every month, why is it bad to buy a car with that in mind instead of an out the door price that includes fees that I might not know ahead of time? [link] [comments]  |
| Wife's job bought out about 1.5 years ago -- Can anyone tell me where this might be going? Posted: 08 Sep 2020 04:58 PM PDT Hi PF, My wife (29) and I (27) are located in the Northwest region of the United States. Combined we make around $45k a year, most of it coming from her position. She does administrative/data entry work for a specific subtype of insurance, and that's about as specific as I'd like to get, even if it means I come up empty on answers to this question. Anyway, her company was local and bought out by a (relative) giant in the financial world. They are multinational, and this obviously worried everyone, as a buy out means changes. Well everyone was promised that things would be the same, and this was the case for the first year. Actually, better insurance and retention bonuses followed, and another retention bonus is set for the 2 year mark. But lately things have been making me suspicious of their motives. I don't know anything about this sort of acquisition and what is normal, and it may all be company to company. But they are drowning in work right now, and have apparently exhausted the workforce (doubtful? I am not sure, but I know unemployment is still very high), so they hired a group of people from a SE Asian country. They have all but closed down their local office here, especially since COVID, and are now asking people to be stay at home permanently, or asking their preferences about what they would like to do. I know people like stay at home work, but their office was very vibrant with a great culture before COVID, and I guess my wife assumed she'd be able to come and go, like before when she was partially WFH and partially in office. Lastly, it seems like a lot of their executives are jumping ship. The owner is still involved in some way, but the president just recently announced he would be leaving to pursue other opportunities. This is the one that really struck me as odd. Perhaps, though, he just doesn't like the new direction. Anyway, we were talking about this, and I made a comment about how I think their goal is likely to outsource all of their administrative work (data entry, customer service, etc.). Well this made my wife very upset as she loves her job. I followed it up with the truth. I don't know shit about anything and was just making an observation. But now my wife is very down and she says that people were talking about this before and she just doesn't like the reality of the situation. Can anyone tell me what may be going on, if at all possible? Anyone that may know these situations and can tell me if this is normal in an acquisition, or if only the top brass at the company would have any details. I am in school for accounting (2 years) and do doordash in my spare time. I also have a very new business that doesn't net me any profit just yet (Started last week, have 1 client). These things give me great flexibility, but if someone tells me a storm is brewing, I will do what I have to do to earn more cash. I do what I can, but she is the breadwinner. I don't want us to be blindsided because of naivete on our part, and I also don't want her to be down in the dumps because I don't know what the fuck I am talking about. I am looking for any advice. Best case scenario is people come in here, call me an idiot, and tell me we have nothing to worry about. [link] [comments]  |
| You are subscribed to email updates from Personal Finance. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment