Personal Finance Paychex won't release my 401k funds! |
- Paychex won't release my 401k funds!
- Ally online bank going down to .60% on all tiers. Any suggested alternatives?
- Employer adding everyone’s tips onto a single persons paystub. Net zero paychecks.
- Setting up teenager for success
- Can you claim a medical bill to your car insurance that your medical insurance paid?
- There's a 50% chance that I'll get laid off next year. What should I do now to prepare?
- A family member was custodian of my educational IRA and didn’t let me access it. Can I reimburse myself for past college expenses now that I have access to it?
- Refunding/Chargeback for a "postponed" event?
- I feel like a fool! After research, I am coming up empty handed. I’m stuck in a couple loans I’m not sure how to get out.
- I received $2000 from a teen programming competition a few months ago and I'm moving into college this winter. Im thinking of putting it in savings?
- Why would debt counsellor advise to stop paying minimum payment on credit card?
- Is it appropriate to ask about pay during an interview, or is it better to wait until an offer is made and the employer tells you what the pay will be?
- Lived at the same address for 10 months. Didn’t realize I had to switch gas to my name ( still under previous tenant or owner ) now my bill is at 1100$ and just got disconnected.
- Was I supposed to pay tax at the quarter end I sold stocks for a capital gain?
- Negative cash flow real estate while building equity?
- Finance guy messed up can I capitalize?
- Moving out of the US after being in the US for more than 6 months in the year as a noncitizen, will I still declare foreign income for the remaining months on my taxes for the year?
- Hit a pillar with my truck, call insurance or no?
- Someone is paying my credit card bill?
- US Medical Debt with little to no hope to pay
- Equifax NIGHTMARE
- What do I need to do with my bonus?
- Opened up my first ROTH IRA
- Can i afford moving out?
- Not explaining purpose of a past credit inquiry - will that get me denied for my in-progress mortgage loan?
| Paychex won't release my 401k funds! Posted: 24 Sep 2020 06:33 AM PDT Hi all, hope this is the right place for this. I left a job end of June, I was the only US employee for a decent sized IT reseller based in the UK. I was the only employee who was paid via the payroll company Paychex here in the US, I also had my 401k done through them. Across the almost 2 years I worked there, we had various problems with Paychex. Sometimes I think it was my employer, sometimes it was Paychex. But anyway, my 401k is about $17k shy of where it should be. My old employer ACH'd the money to Paychex about two weeks ago, there was an issue with Paychex pulling the money from my monthly pay but not transferring it to my account. So money's got backed up, and they had to do the transfer in bulk after I left. Now that the ACH transfer is done, Paychex keeps moving the goal posts on when they'll make the transfer to my retirement account. First it was 3-5 days, then after 7 days and a weekend it was 4 days, it's been another 6 since then. Paychex won't speak with me directly as I'm not the plan Admin. I guess my question is, do I have any legal recourse with Paychex as a way to force their hand? My old company is definitely not innocent here, but they've proven they've sent the money and Paychex is dragging their heels. Sorry for all the words. [link] [comments]  |
| Ally online bank going down to .60% on all tiers. Any suggested alternatives? Posted: 24 Sep 2020 11:51 AM PDT Looking for some place to tuck away the emergency fund that's not an investment account. [link] [comments]  |
| Employer adding everyone’s tips onto a single persons paystub. Net zero paychecks. Posted: 24 Sep 2020 08:10 AM PDT This is a post for my mother. I left that out to make the headline shorter. I will be paying close attention to this thread all day to answer questions or add info. My mom was a bartender in the state of RI. She was the only full time bar tender on the books. There were 7 other bar tenders working for cash under the table. 6 weeks ago my mom left unemployment and returned to work part time when our governor allowed bars to reopen. When she finally got her first pay stubs she noticed her credit card tips were extremely high ,2-3 times what she actually made. After bringing this up with her boss. Her boss denied everything and my mom gave her two weeks notice. She was fired the next week. She finally got her last two paystubs and the credit card tips are enormous! She only worked 9 hours during the last pay period but her stub has $500 in card tips she definitely did not make. The other stub is even worse at $900 in CC tips even though she only worked 31 hours that week and made less than that with her cash and credit tips combined. All 5 paystubs she received since starting work were NET ZERO. I'm not sure where to start or even if this is fightable. Any help would be appreciated. P.s. this person already has multiple complaints against them. [link] [comments]  |
| Setting up teenager for success Posted: 24 Sep 2020 03:57 AM PDT I'm a teacher with a senior whose parents aren't so good at parenting. He's asked that when he graduates, I help him set up a bank account and retirement account. My immediate inclination is to research credit unions and banks like cap one with him. I don't know where to start with retirement accounts. Mine is with vanguard, but I'm not sure that's appropriate for him. He'll be on his own after HS - no financial support from his parents at all. What advice and help and guidance can I give this kid to set him up for success financially? [link] [comments]  |
| Can you claim a medical bill to your car insurance that your medical insurance paid? Posted: 24 Sep 2020 06:47 AM PDT My brother was in a accident last month that totaled his vehicle and two others. He was not the at fault driver. Same day he went to the ER to get checked out because he was sore. ER cleared him with no issues after taking a few scans to ensure nothing was broken and he went home. Fast forward to the next week and he called the hospital to get an itemized bill (one that showed no insurance). He submitted that to Statefarm and because the bill was so high he was given the max from his uninsured/underinsured policy (50k). What he didn't tell Statefarm was that the VA would be picking up his entire bill from the hospital. Could this come back up later? He says no but his wife is worried he just committed fraud because Statefarm thinks he was responsible for the bill. ETA: He has spent all except 10k from the paid out policy. [link] [comments]  |
| There's a 50% chance that I'll get laid off next year. What should I do now to prepare? Posted: 24 Sep 2020 05:06 PM PDT I'm going to update my resume and I've already updated my LinkedIn, but I'm wondering about the financials. My only debt is what's left on my mortgage (~$130,000). I don't have any dependents, so if I have to sell my house and move for a new job it would suck, but it'd be doable. I have a 4 month emergency fund. I'm considering not contributing to my retirement account this year (Roth IRA) to build my emergency fund more, but I'm worried I will regret that down the line if I don't lose my job. I work for the government, so no 401k and they take money automatically for my pension. I'm 30, so I know I still have time to save for retirement, but I worry. Is there anything obvious I'm missing that I could be doing? I'm anxious right now, but I know I'll feel better working through the next few months if I have a plan. This is my dream job and I'm very happy there, so I don't really want to look for another job unless I do get laid off. [link] [comments]  |
| Posted: 24 Sep 2020 08:56 AM PDT Basically what the title says. When I was born my Great Grandparents set up an educational IRA and made my dad a custodian of it until I turned 21. Well he didn't allow me to access it or withdrawal money for school at all. Reasoning unclear and irrelevant to the sub. My question is, since I paid for my AA, and some BA classes out of pocket am I allowed to withdrawal money from the IRA to reimburse myself if I still have the receipts from those tuition payments? It's been a year and a half since I completed my AA. Is there a time limit involved at all? I'm sure it would be wise to leave it in the educational IRA to use for future schooling but I really took a hit out of my savings and ended up with some student loans that I'd like to knock out if possible. Thank you! [link] [comments]  |
| Refunding/Chargeback for a "postponed" event? Posted: 24 Sep 2020 04:27 PM PDT Kind of a weird question but im not really sure where else to post this, does anyone gave experience refunding an event ticket that was postponed due to Coronavirus? I purchased tickets via SeatGeek for a concert that was to be held at the beginning of the year, but was cancelled. The concert was "postponed indefinitly" and currently the date says "TBD" The ticket site says refunds will only be given if the event is cancelled, and since the event hasnt actually been cancelled, they are not offering a refund. However it seems a bit unfair for a company to hold onto my money for what is about..7 months now, with no actual date or anything for when it will be rescheduled. Ive tried everything I can with the ticket company, now the only thing left is to refund it through my credit card company, but im a little hesitant to do that [link] [comments]  |
| Posted: 24 Sep 2020 09:58 PM PDT Long story short, I took out a loan for an abusive family member when I was 18. It was a private student loan with Sallie Mae for 15,000. It paid for a semester of school and the rest went to the family member. I paid on it for about 3 years total until I couldn't afford it anymore due to a series of life events over the years. It was sold to a collections agency, Allied, who told me that they could settle for half of what I owe (30,000 for a 15,000 loan) I understand that's fees that incurred. They said they would settle for 15,000 or close to it and I could pay off the other half with payments. Can I file bankruptcy? I only have one credit card and I have nothing in my name. I'm 33 now. This loan is still haunting me. I had a series of medical issues and depression that kept me from wanting to dig myself out of a hole. I have recently been trying to get my finances and debts in order, but I don't know the first thing to do here. Please no harsh judgement. I was in a very abusive household till I was 23. It was a cult and the cult leader made me take out the loan so she could buy a circus tent (no, I'm not making this up, sadly.) I was literally brainwashed my entire life and if I came up with $15,000 tomorrow, it would all go to this loan because it's a terrible memory for me. [link] [comments]  |
| Posted: 24 Sep 2020 09:47 PM PDT Hey guys I'm about to start college. I got $2000 a while ago and I'm thinking of putting it in a savings account to get some extra money. I'm not really educated on finance tho so could someone walk me through this? I have a Bank of america checking account and Im not sure how to open up a savings account. I dont really need to urgently pay any expenses at the moment since I got a meal plan for school and I'll be staying home with the fam this quarter anyway. I was also thinking of getting into investing, but I was unable to sign up for a broker since i dont have my drivers license yet and my passport is expired. What should I do? [link] [comments]  |
| Why would debt counsellor advise to stop paying minimum payment on credit card? Posted: 24 Sep 2020 04:09 PM PDT If a person is in a lot of debt of various kinds, including maxed out credit card, and is just making the minimum monthly payments on their card, why would a debt counsellor advise them to stop making the minimum monthly payment on the balance? What happens when you stop making the minimum monthly payment, especially if you also have a mortgage with the card issuing bank? [link] [comments]  |
| Posted: 24 Sep 2020 08:59 PM PDT I've actually never asked about pay during an interview, I've always waited until an offer is made; but I don't know if there's an official etiquette. I have an interview tomorrow that I'm really anxious about, and I'm hoping if it's offered to me I will get paid quite a bit more than what I'm making now. I hate to waste my time and worries all weekend long just to find out the job isn't going to pay what I am expecting. [link] [comments]  |
| Posted: 24 Sep 2020 03:13 PM PDT What title says. I'm about to move out as I'm breaking my lease early and would like to know what I can do? I don't have the 1100$ to pay the gas bill and I am confused as to how it just got cut off without anyone being notified? Any help would be appreciated as this is my first time renting. Edit- I don't think I should be held responsible for the charges as I was never notified that there was an active service with direct energy. [link] [comments]  |
| Was I supposed to pay tax at the quarter end I sold stocks for a capital gain? Posted: 24 Sep 2020 08:28 PM PDT I just learnt about withholding tax payments and being penalized if you don't. I sold stock at the beginning of the year for which I estimate I'll owe about $5,000-$6,000 in tax. But I don't know the amount. Was I supposed to pay that at the end of the quarter? I assumed I was supposed to do it with my taxes. [link] [comments]  |
| Negative cash flow real estate while building equity? Posted: 24 Sep 2020 08:21 PM PDT Real Estate in Toronto is absurd and there are no reasonable cash flow positive properties. Undoubtedly COVID has been a headwind for Condos, while houses have continued to skyrocket. For the purpose of this argument, I want to assume that Condos will increase at inflation over the very long term and that there will be no major price correction. An example property for 500k, we're allowed to go 5% down. Net rent after all taxation, expenses and deductibles will net around 11k a year, but will need to be topped an additional 8k to be cashflow neutral. First year return should be 11/(8+25)=33% Year 2 should be 11/(33+8)=27% Etc... Returns continue to decrease but remain double digit for 12+ years. Let's exclude inflation for arguments sake. To me, healthy returns seem like they can had even in a negative cashflow scenario that requires topping up every month because of the insanely low interest rates and large leverage. Thoughts? [link] [comments]  |
| Finance guy messed up can I capitalize? Posted: 24 Sep 2020 10:31 PM PDT So I recently went and got a new Toyota 4Runner for my wife. The financing was supposed to be all in my name, the wife's name not even attached. So I went back and signed, just me. About two weeks later the financial guy called and said he messed up and that I have to come back and sign again with my wife because she was supposed to sign. I told him that he was wrong and that It was always supposed to be in my name. I have been out of state and haven't been able to come do the paperwork and it wasn't reaching me in the mail. I'm going to the dealership tomorrow. Can I tell him that that deal was for a new car. What we are looking at now is a used car. My wife has been driving for several weeks. Can I mess with them and get any better of a deal? [link] [comments]  |
| Posted: 24 Sep 2020 10:29 PM PDT I will be moving outside the US permanently in a month or two, for the income earned abroad for the remaining couple months of the year, does it need to be declared on my 2020 US tax return too? Or only the portion up until I move? I have been a "resident alien" for the last couple years. [link] [comments]  |
| Hit a pillar with my truck, call insurance or no? Posted: 24 Sep 2020 11:31 AM PDT Hello all, I hope this will be a simple question, yesterday trying to help someone jump their car i ended up hitting a wood pillar for a parking space cover in my condo parking lot. No real damage to the pillar happened since i was only going like 3 mph maybe, but the front of my truck got a big dent and huge scrapes on the paint. Should I call insurance on this or just pay for the dent and repaint out of pocket? What are the merits of both? [link] [comments]  |
| Someone is paying my credit card bill? Posted: 24 Sep 2020 01:35 PM PDT So, for a while now every time I go to pay my credit card bill, it has already been paid by someone in San Antonio, which is nowhere close to where I live. I dont even know anyone who lives in Texas, so I have no idea who it could be. They never charge anything to my account, they just pay the bill sometimes. Once they even paid $212 at once. I guess it's not the worst problem to have, but I would like to know what's going on. Has this ever happened to anyone else? [link] [comments]  |
| US Medical Debt with little to no hope to pay Posted: 24 Sep 2020 10:18 PM PDT Hello there, not sure if this is the appropriate subreddit but I am running out of options. A relative recently had a very complicated medical situation and unfortunately, they will most likely be unable to work for the short term (Optimistically speaking). They are uninsured but as the treatment was an emergency, their immediate family did not have any other option than to proceed even though it was pretty expensive and will require treatment. The main problem here is that they and their immediate family are all drowned in debt (Like, around 30 000 each one or so), and the hospital has not been paid yet. They are my family as well so I would like to hear any advice/tip as this is a new situation for us and how it could impact us financially, the more I read about medical debt, the more complicated it seems. Thanks in advance. [link] [comments]  |
| Posted: 24 Sep 2020 10:38 AM PDT I've been trying to get Equifax to release my credit report for almost 3 months, in order to get my mortgage approved. Experian and Transunion released the report immediately with no problem. But Equifax says they can't verify my identity. So I've mailed and faxed them the required documents over 20 times, waited the required amount of business days, call them only for them to say they didn't receive any documents and to send it again. I've tried pulling the report from annualcreditreport, FiCO, Equifax website, literally everything, with no luck. I filed a complaint with the CFPB and was told the same thing that Equifax told me. The mortgage company needs all 3 credit scores to approve the loan. I am about to lose my house offer because of this. I have no idea what more I can try. [link] [comments]  |
| What do I need to do with my bonus? Posted: 24 Sep 2020 05:13 PM PDT Hey y'all. I had my evaluation at work today and was informed that I was going to be getting a bonus of $3,000. As a side note, I work in the medical field and was told this bonus was for hazard pay. Here's the first road block I've run into, there's taxes on bonuses like everything else. When I was told $3,000, I'm not sure if they're saying that's the amount I will receive in full, like if my employer will technically be paying more and that's what I will receive post tax, of if 3k is the base amount and I will be taxed at 22%(according to google) and only take home $2,340. Nonetheless, I want to use this to pay off some of my debts, but I need advice about what debts I should pay off with this bonus. Going forward lets assume I'll only be getting $2,340 to take home (unless you think that I could actually be taking home 3k). My debts are as follows:
What do I do reddit? Do I squash my tiny balances and use the snowball effect or try to get rid of the heavy hitter(Apple or Chase) due to the amount of interest using the avalanche method? Thanks in advanced y'all! [link] [comments]  |
| Posted: 24 Sep 2020 10:06 PM PDT Now what? What are some of the best ways to maximize my contributions that has worked for you? I have zero knowledge on finance and investing so any tips and advice is greatly appreciated. Edit: I opened it under Vanguard [link] [comments]  |
| Posted: 24 Sep 2020 02:49 PM PDT Strategize with me!!! Hello guys! Hope everyone is doing well. Getting straight to the point, I need to move out soon (by February of 2021) and have been weighing my options. Faced with a tough decision, i usually end up on reddit! About me: I am a new graduate making 50k per year (not including other, less reliable, sources of income) with a stable, permanent job. (very fortunate and grateful to be working during Covid) I work in downtown Toronto, Canada, in the financial district. I have $25,000 in student loans and no other debt. Thats really it hahaha. Something to note: If needed, to pay off my student loans, I can take out a ULOC for up to $15,000 at 0% interest due to my occupation and pay off the other $10,000 cash which i have saved. If i leave my position, the ULOC loses its incentive and i will need to pay interest again. Option A - Move downtown, alone, walking distance from work for about $1,600/month. There are a couple choices at this price range for a 1br 1 bathroom and although small, should suit my needs. This removes transportation costs as i enjoy biking and walking which i will do to work. Nonetheless, I am working from home currently so it wont be an expense right now. I am wondering, can i even afford this? I don't know all of the expenses necessary for living alone as i've never done so before and don't want to be surprised or stretching every last dollar. I know its cutting it very close but i am willing to do work on the side if necessary for a couple hundred extra a month (I've worked as a brand ambassador in the past and made a couple hundred every weekend) I'd rather this than live with a room-mate. Option B - Move downtown, with a room-mate for no more than $1,200 a month. Im certain this is something i can afford (40 times rule is often cited but tbh, doesn't really work in Toronto does it) and not much thought needs to be put into it BUT i will only consider this if living alone isn't viable. I am not sure who my room-mate would be as i am definitely not living with a stranger but all my friends are inconsistent with their moving plans and i don't want to wait and rely on their call forever. Option C - Help me decide if theres an option C!!! I am always willing to listen to more options!! P.S - I know right now is a great time to rent as rent prices are at all time lows due to Covid. I'd like to take advantage of the situation so there is some urgency in the matter. (BTW, can i get my rent price protected if i rent now?) Please forgive me if i've missed anything! EDIT: I am not moving because i want to but rather i have to. My family is leaving Canada permanently February 2021 and i am choosing to stay. [link] [comments]  |
| Posted: 24 Sep 2020 05:50 PM PDT To start I got a car loan a just about 2 months ago. Currently, I am in the process of finalizing my mortgage loan for my house (2 weeks away from closing). I put down my monthly payment for my car loan on my application but was never asked about this loan so I never thought of it (I'm guessing it never showed when they ran my credit because it was before that loan was active). I went through the whole process did everything right, gave all my paperwork, etc. HOWEVER, I just received a inquiry letter to sign showing all the companies that have pulled my credit report recently. My loan agent has pre-filled everything for me putting down: no credit was obtained, no debt is listed, and the purpose is for a mortgage inquiry. The catch is, one of these inquiries is for my car loan. So technically all of those questions are pre-filled incorrectly. My questions are, since she has filled this out already should I just sign it? Will they they figure out about my car loan at a later date and will my mortgage get denied? Is this some type of fraud? I know if I let my loan agent know about this, I'm assuming my rate will go up or who knows what will happen, so am I able to just sign it like I don't have a car loan? [link] [comments]  |
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