Personal Finance My wife just passed away this morning. Why should I be doing to take care of business? |
- My wife just passed away this morning. Why should I be doing to take care of business?
- Any way to fight the banks on access to safe deposit boxes?
- I'm 23 and my grandpa left me $15,000. Should I pay off ~55% of my student loans or invest it?
- I am 18 yrs old and I am planning to open a vanguard roth ira account
- Fraudulent Netflix Account
- Does using CareCredit hurt my credit score?
- Getting a reverse mortgage on my mom's house
- Tax brackets and long-term capital gains: which income is "first"?
- Inheriting £27,000 + complex family debt
- Death of friend, but gained unexpected inheritance.
- Switching checking accounts
- I want to be a doctor but I was wondering if financially, is it worth it?
- I have about $70k and 3 months. Best option for short term very low risk investment?
- Help chase closed my bank account without notice
- Absentee Sister claiming nephew on Income Tax form
- What sort of car loan should I get with low income (student) but lots of savings?
- How to ask my boss for part of his commission
- How do I improve my situation ? (Long)
- Can't refinance my car because of its age - am I screwed?
- Performance Improvement Plan & Worried
- Plans for Life in the future
- We finally saved money so what do I do now?
- My employer is deferring 20% of my weekly payslip as tax even though I am earning under $18K year (under taxable income in Australia)
| My wife just passed away this morning. Why should I be doing to take care of business? Posted: 23 Sep 2020 02:15 PM PDT Still numb so can't intelligently search for this. My wife passed this morning from cancer. We own a house, have a couple of young kids, a business. Why should I be doing to tie things up? [link] [comments]  |
| Any way to fight the banks on access to safe deposit boxes? Posted: 23 Sep 2020 10:31 AM PDT Sorry if this is the wrong sub, but I spent a while searching and couldn't find a more appropriate one. I put a USB key with some receipts, pictures, and insurance paperwork in a safe deposit box at a Wells Fargo branch that I now desperately need for an insurance claim. My primary copy was destroyed (thus the need for the claim). I haven't been able to get access to my box in over six months since that Wells Fargo branch has been closed by order of our governor. I've talked to dozens of people at Wells Fargo, and they all have the same story (which is rare for them!) that it is illegal for them to allow me to access my box. What can I do? I desperately need the insurance money. USAA's offer to pay on the claim is only about ten cents on the dollar of what it would be with the receipts and pic proof, so I'm desperate to get access to my box. Do I need to hire a lawyer? Would that even help since the governor is the reason for not allowing access? I'm in WA. [link] [comments]  |
| I'm 23 and my grandpa left me $15,000. Should I pay off ~55% of my student loans or invest it? Posted: 23 Sep 2020 10:48 AM PDT Hi all, My grandpa passed away a few months ago. He left me $15,000 and told my mom wanted me to use it to 'plan ahead in life' (just to be clear, the money isn't earmarked for anything in particular). I'm looking at my options as to how use it most effectively. I'm between:
I'm leaning towards paying down my debt. I like the idea of being debt-free in 4 years and having more monthly cashflow to save/invest. With that said, just because I want that, doesn't mean it's the best use of this money. So, should I invest this money (if so, where?) or should I pay down my student debt? ------------------ Edit: thank you so much for all of your suggestions! I wanted to give a little more context because it's been asked for.
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| I am 18 yrs old and I am planning to open a vanguard roth ira account Posted: 23 Sep 2020 05:41 PM PDT I am new to this things and I am still not sure what to do and what is about to happen when I open an account to them. Is there any annual fees ? Can I put 50 to 100 per month? How does the money grow? Is there a compund interest? If I am gonna let a proffesional handle my account how much would it cost? Is it worth it? Is there assurance that your money will grow on a roth ira? what do you guys think is a better retirement plan and companies? Thank you [link] [comments]  |
| Posted: 23 Sep 2020 05:36 AM PDT Back in March, I canceled my Netflix account because I wanted to focus on HBO for a while. For the past six months, I've assumed my Netflix account was totally inactive. But then, this morning, I was looking at my credit card statements, and I noticed a charge for Netflix of $17.31. I called Netflix support, and the lady said that somebody (or something) opened another Netflix account using my credit card. It also turns out this amount been charged to my credit card every month since March. She said that an email was sent to me to confirm that the new account was okay with me, but I must have overlooked it, thinking it was just an advertisement. She told me she can refund the most recent charge of $17.31, but she cannot refund the $86.55 from the previous 5 months. So I've gotten a couple of reminders from this experience that I want to share so nobody makes my mistakes. 1. Check every charge on your credit card statement every month. 2. Don't overlook all those emails from Netflix or wherever else. One of them may be a important email about account activity that you need to see. I hope nobody else has to pay for these mistakes as I do!!! [link] [comments]  |
| Does using CareCredit hurt my credit score? Posted: 23 Sep 2020 07:24 PM PDT I have an upcoming medical expense of around $11k. I have the cash to pay it all now, but my doctor offers the option of using CareCredit to pay it off in monthly installments. The brochure I received says that as long as I pay it off under 6 months I will be charged no interest. This sounds preferable to me since I can pay ~2k a month instead of 11k all at once, and still pay no interest. Right? Would using CareCredit be considered a credit inquiry, the same way as opening up a new credit card? In that case, would it hurt my credit score? I'm trying to buy an investment property in the next 6 months or so, so would that be disadvantageous? Also, if I do decide to go through with CareCredit, can I make my monthly payments with a credit card to get points/miles? Or am I not allowed to pay off credit with credit? Thanks! [link] [comments]  |
| Getting a reverse mortgage on my mom's house Posted: 23 Sep 2020 07:03 PM PDT My mom suffered a stroke six months ago and now requires help for daily living (cooking, bathing, etc). My sister who lives with her is basically her caregiver (sister lost her job due to covid). At this point it seems my mom will need some long-term care, maybe even for the rest of her life. My sister plans and wants to go back to work eventually. i live on my own but i come by and help my sister out with my mom almost daily whenever I can, thankfull I'm still working fulltime. At this point the only option we see is hiring a fulltime at home caregiver, maybe eventually putting my mom in a nursing home. Only way I can see we can afford this is to get a reverse mortgage on my mom's house. My mom inherited the house from her parents and owns it free and clear. I dont know much about reverse mortagages but at her age (mid-60s), health, poor credit score (300-400) I doubt she'd be able to get approved. So I'm thinking that me and my sister co-sign for the mortgage. Like I said I'm ignorant about reverse mortagages. Would we just be able to co-sign with my mom as the signer? or in this situation would it be better to have the house deed/title be put under me and my sister's name and me and my sister sign for the reverse mortgage? Also what are the consquences of this, if the deed/title is under me and my sister and we sign for the mortage? Obviously needing to pay it back, but maybe theres some other things I'm missing, like affect on me and my sister's credit score and especially if we change the deed/title to us, that basically makes us the homeowners. Getting a reverse mortgage is the only way I can see paying for this, especially if she goes to a nursing home. My mom has basically no savings/retirement money. She only has SS income. Between me and my sister we have some savings but probably barely enough to pay for a few months of my mom's caregiving. We're both in our 20s so we just havent had much to save up and we both got some nice student loans to pay off. [link] [comments]  |
| Tax brackets and long-term capital gains: which income is "first"? Posted: 23 Sep 2020 01:59 PM PDT I'm familiar with how tax brackets / marginal rates work (i.e. I know "moving into a higher bracket" only affects the rate for the additional income, not all income). I also know that long-term capital gains are taxed at different (lower) rates than regular income. I'm wondering how these rates and brackets interact. Suppose, for example, I'm single and have employment income of $62.4k, plus another $50k in long-term capital gains. After the standard deduction, my taxable income is an even $100k, so I'm in the 15% long-term gains bracket and the 24% income bracket. Thus I'd expect to be taxed at a marginal rate of 24% on additional regular income. But my regular income alone was in the 22% bracket! Does income count as "first" based on the actual time at which I earned it, or does all of my employment income come "first" for determining taxes, followed by long-term gains at the appropriate rate? As a follow-up, what rate would I be saving if I contributed to a pre-tax 401(k) in this scenario? 22% ? 24%? 15%? [link] [comments]  |
| Inheriting £27,000 + complex family debt Posted: 23 Sep 2020 05:00 PM PDT My (M26) mother passed away one month ago, from complications resulting from her long term drug abuse. She was homeless when she died and I hadn't seen her in ten years. Her death was sudden and unexpected, and it has been a very hard few weeks. I have taken responsibility for all of her funeral and estate arrangements, and have paid 100% of the costs so far (£1,500 and climbing). I am currently going through the long process of contacting banks and using what documents I have if hers to try and value her estate. She has died without a will and I am her next of kin in UK law. My mother was not a very nice person, and coerced my elderly grandmother to give her savings and incur a considerable amount of debt over the years. I don't know the exact figure but expect it is around £20,000. Most of this has now been paid off, but there is also an unpaid lockup and a mobile phone contract, both of which are in my grandmother's name, and therefore she remains liable for these. To put the financial cost of heroin into perspective, in 2005 my mother won a successful negligence lawsuit against the National Health Service for a medical misdiagnosis, in the region of half a million pounds. Since then my mother spent / lost all of this. Every account I've so far found appears to have been emptied out, but it will take time to complete a full search formally with the banks. Currently I'm just going by scraps of documents found in my mother's things. Fellow redditors might then appreciate my shock when I had a call from one bank yesterday, saying she held an active private pension plan, invested in stocks, that named me as the sole beneficiary if she died before her 50th birthday (she was 49). The sum is £27,072.55. That's about the UK average salary to put it into context. I was stunned, and had to ask the bank guy to repeat the figure three times. It's also entirely tax free, and now checks have been completed the funds will be in my account in two weeks. It is possible there is more money found elsewhere. She had two workplace pensions that I have yet to make checks on; other than that I'm not hopeful there will be much else. I called my grandmother and have told her I want to use at least some of the money to clear her remaining debts. I don't want to think about exact figures until 1) I've completed the rest of the estate valuation and 2) see in detail what my grandmother's remaining debts are. I would aim to keep around £20,000. So, what to do with it. Some quickfire info about me; I'm 26, male, live in the UK. Single. I work a professional, secure public sector job with a salary of £31,000. I have a fantastic workplace pension which I pay the full contribution into. I also have a private pension-style fund called a LISA. I own a two bedroom flat, with a mortgage of about £130,000. I previously sublet my spare room for £7,200 a year on a tax free scheme, but have lived on my own for a year. I have £33,500 in savings in a stock trading account, currently 80% in cash after liquidating in June due to Covid. I owe my father £26,500 on a personal loan for helping me buy my flat five years ago. This is due in three years at 0% interest. My total equity is about £70,000 including debts and savings. I am enrolled on a night school university course as part of a career change ambition. I am currently paying my tuition out of my salary. I have 18 months to complete my diploma. I will then do a further 12 months to convert to a degree, which is more expensive and will cost £9,000. I can either take a student loan for this or pay from savings. What should I do? [link] [comments]  |
| Death of friend, but gained unexpected inheritance. Posted: 23 Sep 2020 12:53 PM PDT (Throwaway because I am recently divorced and keeping a low profile). I am a 48 year old woman, with very little debt. I recently received money from friend's passing (about 25K). Although her death was expected, the money was not. I don't want to spend it, I want to invest the money. I would like for this to grow until I retire. Since it's extra money I was not expecting, I think can be a bit more aggressive. Right now, it's just sitting in a savings account because at the time, I could not emotionally handle the loss of my friend and think about the money at the same time. It's still painful. But I'm ready now. I thought about just stashing it into an index fund, but is there more I can do? Any advice is helpful. Thanks. [link] [comments]  |
| Posted: 23 Sep 2020 06:53 PM PDT I'm closing my chase checking account because they charge a 12$ maintenance fee. I was looking at opening an account with capital one, but decided to post here to see if anyone has better suggestions. [link] [comments]  |
| I want to be a doctor but I was wondering if financially, is it worth it? Posted: 23 Sep 2020 06:38 PM PDT I've grown up poor and it has been tough. I've been reading a lot of stories about medical school, and while in College, I was wondering if it was really worth it. I just want to make money but I would love to help people and I'm not even sure what to do because my parents want me to be a doctor and I want to be as well but I just don't know. [link] [comments]  |
| I have about $70k and 3 months. Best option for short term very low risk investment? Posted: 23 Sep 2020 06:18 PM PDT I'm getting a student loan repayment payout. Student loans payments and interest are frozen until the end of December. What shall I do with this money until then? Even if I only make 1%, that's a pile of cash I could sure use. Online savings accounts look close to 1%, anybody have a better idea? [link] [comments]  |
| Help chase closed my bank account without notice Posted: 23 Sep 2020 02:29 PM PDT And won't tell me why. When I call they just say we have decided to end the account. I have over $ 20,000 With chase and now it's just closed. My moms account was locked too and she is listed on one of my accounts? Why was both locked. My mom has been with chase for over 30 years and now her account is closed and BOTH of my accounts with chase are closed with no explanation. What do I need to do and who do I need to call? My mom went to the bank and they will not give her any info in person either. I called the IRS to make sure everything was fine on their end and they said it was .. [link] [comments]  |
| Absentee Sister claiming nephew on Income Tax form Posted: 23 Sep 2020 02:45 PM PDT As the title says, my sister abandoned my nephew 2 years ago and left him with our parents. She has been claiming him on her tax forms since then, taking all the money. My parents obtained custody of him two months ago. Mom has stage 4 cancer and dad is barely holding on to his job due to his joints. My nephew has learning disabilities. How can I help them claim what belongs to them, to help my nephew? [link] [comments]  |
| What sort of car loan should I get with low income (student) but lots of savings? Posted: 23 Sep 2020 07:26 PM PDT I don't want to pay outright in cash because I want to build credit but I only make about 23k a year as a graduate student. Perhaps something with more cash upfront and larger payments? [link] [comments]  |
| How to ask my boss for part of his commission Posted: 23 Sep 2020 07:16 PM PDT I got an awesome new job in the mortgage world and the guy I am assisting, who also taught me everything, is having an amazing year due to the lower interest rates. I do most of the back end stuff, while he gets more clients to keep the train rolling. He does he some of the more important back end stuff, but I strongly feel like I am doing a good bit of the tedious work that goes into each and every file. I current get salary + $100/loan and he gets .8% of the loan amount as his commission. I.e $300k loan = $2400 for him while i'd get $100 regardless of loan amount. Next month we'v got around 15 loans closing, so i'd get $1500, and him ~$45k. Is it fair of me to ask for a % of his commission? By me doing all the tedious grunt work I am freeing up more time for him to get more business. I was thinking of asking for 10% of his share. [link] [comments]  |
| How do I improve my situation ? (Long) Posted: 23 Sep 2020 06:26 PM PDT Hey guys. So I'm an electricians apprentice who currently lives in San Diego and I'm finding it extremely difficult to get on my feet. I was doing scaffolding before but wasn't making much more than I do now. I moved out here to actually get away from family and I practically have no support system. Not even someone to talk to. I've been homeless on off for the last 18 months living out of my pickup truck. I actually had to buy another one because the dodge I was driving before my ford started to get rod knock after I had to go do a job in Alaska and the person I left my truck with used it to haul stuff and ran the oil dry and ran it out of gas on the highway. That same "friend" was my last roommate but as I've learned you don't really know someone outside of work, even if you've been working with them for a year. Some of the roommates that kicked me out have been my fault , I've could've been better in the beginning but the last few where honestly just circumstance. One was a triangle thing ( open relationship) and the fwb got bitter when I started having people over and got me out but I'm still friends with the husband. Don't talk to him much but he checks in on me and is a good dude. I'll also take responsibility for the poor planing. San Diego isn't a very good place to try and be an tradesman. Non union wages are the national average for commercial and Industrial work (30/$hr or so for journeyman) and it's very hard to get a decent gig. The union is very hard to get into ( I interviewed and didn't get in) but staying employed is extremely difficult in the union down here. I feel like I chose the wrong field , electrical pay is low unless you're union and the only real way to join the ibew is to move to a union powerhouse city. Even then sometimes you have to still have family or know someone to get in ( SF and NYC come to mind). I love my trade but as an apprentice I don't make enough to really live anywhere. Not even the south or Midwest. Entry level commercial electrical work pays minimum wage in most places. I make 16/$hr but in any sizeable city 9/$hr isn't enough to live. I'd be taking a cut in cheaper places. The only real exception is the PNW. Seattle and Portland where great but the shutdowns and riots have a lot of work drying up. I could probably still find work before I move but I don't have any real rental history. It would be a very hard few months and property crime would be a big concern living out of my truck up there. I qualified for transitional housing but they wouldn't accept me because apparently showing my payment history and UI claim summary isn't enough. They need a official letter saying I don't collect unemployment anymore. I don't see how I can be working full time and collecting unemployment. My sister lives in the Seattle area but we've barely reconnected and I can't depend on her for anything. I could move up there and be better off financially but until I get stable housing I'd be one small step from even worse off than I am now. I'm starting to feel hopeless and like I'm better off just offing myself. Like it's all pointless. With gas driving job to job I couldn't even afford to rent a room here if I was willing to put myself in that situation again. I don't even have anywhere to shower with COVID , I have to birdbath with cold water. It sucks. Is there anything I can do besides to save and try to move someplace better ? I'm 23 for context. [link] [comments]  |
| Can't refinance my car because of its age - am I screwed? Posted: 23 Sep 2020 11:27 AM PDT Hi all, I bought a rav4 about 2 years ago. I'd been looking for one for a while and found (what I thought was) a great deal. It was a 2005 but had barely been driven, in perfect condition with only 40,000 miles and it was much cheaper than newer models with 4-5x the mileage. It was my first time buying a car by myself and basically I let myself get screwed - I financed through the dealership, they didn't explain anything and tacked on a bunch of useless add-ons because I didn't think to question the paperwork they handed me, and I ended up with an APR of over 13% despite having great credit. What can I say, I was a pushover and a fool The problem is, now I want to refinance but I can't because of the car's age. Even my credit union turned me down because their cutoff is 2006. It's a great car and I know it'll last me 15+ years but the loan is ridiculous and I know if I ever tried to sell it I'd get peanuts compared to what I'm paying. Do I have any options? Any advice would be much appreciated! [link] [comments]  |
| Performance Improvement Plan & Worried Posted: 23 Sep 2020 11:25 AM PDT Hi All I have been on a PIP for some weeks and my performance is closely monitored. My weekly meetings are having a mix of good and poor comments on my performance. This has been a difficult time for me, while I am trying my level best to clear the PIP and retain my job, I also want to prepare for any other outcome. In case I don't get to keep my job what options do I have? Do I get to apply EI to keep me afloat during these unprecedented times until I find my next employment? If by any chance I get terminated for cause and deny me EI do I still get to apply CRB? I appreciate your advise [link] [comments]  |
| Posted: 23 Sep 2020 02:21 PM PDT Hello everyone. Im 24 male single. I'm employed earning a 17/hour. I live in Virginia. Just want have some opinions about you guys, if what should I do. My job doesn't have that much benifits, no 401k no life insurance etc. (just a health insurance). And on my previous job im earning around 13/hour they have 401k life insurance etc. And now having all of that, i have a girlfriend and planning to get married in soon. And having a thought of joining in military [link] [comments]  |
| We finally saved money so what do I do now? Posted: 23 Sep 2020 07:28 AM PDT My wife lost her job in May of this year but we've managed to save most of her unemployment. We also furloughed our house payments and we just moved the house payment money into savings. We also saved our stimulus check because we didn't know what the future would hold. My wife may have found a job but we may not know tell Friday. We've managed to $10K. That is quiet a bit of money for us and I want to make sure we keep it. I'm just not sure what do. Should we use it to pay off credit card debt or move some into an IRA? Should we keep it all savings and just pay extra on debt? Would pay extra once we know she's got a job of course. Credit cards: $3500 Student loans: $1700 Equity loan: $10K That is all the debt we have aside from the mortgage. We've never managed to save up this amount before and I'm just not sure what to do at this point. I to afraid of screwing everything up. [link] [comments]  |
| Posted: 23 Sep 2020 05:36 PM PDT Hey all, Would anyone know why my employer is deferring 20% of my weekly pay as tax even though I am earning under $18K year (under taxable income in Australia)? I am confused whether I should claim or discontinue claiming the tax-free threshold? (on my tax details, I am 99% sure I selected claim tax-free threshold) Should my next step to be completing out a withholding declaration tax form - (https://www.ato.gov.au/Forms/Withholding-declaration/#Whoshouldcompletethisdeclaration) and hand this to my employer so I can receive 100% of my weekly payslip? For example, for 7 hours of work last week, I received $140 of gross pay. However my employer deducts $30 as tax and I only receive $110. [link] [comments]  |
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