Personal Finance Received $50k through Life Insurance, need some advice. |
- Received $50k through Life Insurance, need some advice.
- Did I just set myself up to get scammed?
- Gym charged me $650 mystery fee
- Advice on getting my security deposit back?
- Blue shield claim finalized but says patients responsibility of $4800
- Landed dream job. Now what?
- Wife due with 1st child in late March - health insurance advice
- Steps after final car loan payment
- Boss/company doesn’t want to pay me my last paycheck..
- Venmo money from someone I don't know.
- Gym membership subscription is over double the agreed amount
- What to do when you’re paid too much at a failing company?
- I have 3 401ks. Consolidate or keep separate
- My mom (65) wants to get another term life insurance policy because her 20 year policy expires this month. She doesn’t know what to do. Is what she is being told a good idea?
- Balancing debt repayment with down payment goals
- I can’t afford a house in the city I grew up in
- Home warranty doesn't cover water damage for furnace
- Saving for a down payment
- Closing my oldest card - Any Repercussions
- Looking to buy a house. Should I invest savings now? What's the cost of gaining money?
- Refinancing my car loan
- Is it considered fraud for Canadians to get US credit cards (entails residency in the US)?
- IRS Refund Status still doesn't show my paper return from July
- How best to prepare financially for Law School? At 35...
| Received $50k through Life Insurance, need some advice. Posted: 17 Oct 2020 03:26 PM PDT I currently make about 30k/yr... so this is a sizable chuck and I want to make sure that I can change my family's life for the better some. My current car is a POS and I currently owe more on it than it is worth.... BUT, the lot I bought it from told me (in writing) i can return the car to them at no penalty. I want to spend 10-15k on 2 reliable cars (10k/5k split) as it makes me and my wife's lives much easier. I want to spend about $7k (face value, i'm going to try to make deals with the creditors) to pay off everything I owe. I want to put away $25k to put a down payment on a house after I get my credit sorted. Am I off track? [link] [comments]  | |||||||||||||||||||||||||||
| Did I just set myself up to get scammed? Posted: 17 Oct 2020 04:38 PM PDT I posted a craigslist item for sale and someone reached out saying they were interested and to reply by their personal email because they always miss their CL emails. I've done business with a LOT of legit folks on CL who end up responding days later because they miss the CL emails, so I though ok, no big deal. I proceeded to give my name, address, and phone number.... It was only after they replied doing the typical cashier's check scam that I realized my blunder. Using my name, address, and phone number, how in trouble could I be and is there anything I can do to stop it? [link] [comments]  | |||||||||||||||||||||||||||
| Gym charged me $650 mystery fee Posted: 16 Oct 2020 10:05 PM PDT I'm not sure where else to put this. I signed up for a gym July 2019 - the deal was two years for the price of one if you paid right there, right then - so I did. I paid like $429 total. Fast forward to today, I find the gym charged me $650. I don't know what for, I am mad, upset, annoyed, confused! I called US Bank and they said if the gym doesn't cooperate they'll dispute it, but I feel like that's a big chunk to dispute. How can I ensure I get my money back? I have my contract that I signed from 2019. I am SO SO upset right now, and I've read online that this gym chain (Xsport) is notorious for being shady. SOS. UPDATE: Went to the gym, they said that shouldn't have happened and to contact them during working hours when the manager is there or contact corporate during those hours. Should get the $ back. To those saying "why post here - why not ask the gym?" Because it was the middle of the night when I found out about the charge and I have anxiety. [link] [comments]  | |||||||||||||||||||||||||||
| Advice on getting my security deposit back? Posted: 17 Oct 2020 02:15 PM PDT Hello, I recently moved out of a large apartment complex in Los Angeles, CA. I cleaned the apartment pretty well, and according to my lease they are not allowed to charge for anything that's just reasonable wear and tear. During our inspection they didn't point to any specific damages, they just mentioned that for every apartment they charge ~180 for a deep cleaning, ~65 for a carpet cleaning and ~113 prorated for painting the whole place. They later sent me a bill confirming these amounts. I've asked them specifically for any proof that what we did was beyond "reasonable wear and tear" but they did not provide anything beyond saying this is their standard practice. I highly believe they just pay their vendors out of security deposits for the same thing for each apartment regardless of the actual damage to the unit to avoid overhead costs, which is not fair. Is there anything I can do at this point, or some kind of legal sounding letter to send them? I'm only out ~400 so it's not worth getting a lawyer, but I'm willing to put time into this due to the principle of it all. [link] [comments]  | |||||||||||||||||||||||||||
| Blue shield claim finalized but says patients responsibility of $4800 Posted: 17 Oct 2020 11:17 AM PDT So I got an endoscopy, and my doctor said beforehand that it would cost $1300. I paid before my examination. Weeks later, blue shield sends out 4 claims (all finalized). 1 of these claims is for the $1300 which I paid for, 1 of them is for $0, 1 of them is for $80, but the last claim says there is a finalized claim and a patient's responsibility of $4800. It looks like it was the analysis for whatever was found in my stomach. Do I owe this amount? How come I was never notified before the claim finalized? Tl;dr Blue shield finalized a claim with a patient's responsibility of $4800. Do I owe this amount? [link] [comments]  | |||||||||||||||||||||||||||
| Posted: 17 Oct 2020 07:50 PM PDT Mid thirties. Worked in industry for 14 years, 8 of which at current company. I've averaged a promotion roughly every 2 - 3 years, but did not see this one coming. I was just offered a Director level role but in another state across the country. It was something I always thought would be unobtainable without an advanced degree, and I just wasn't expecting it. I could not turn it down, the compensation package was more than I expected (I did my research). Now I have to pack up and move in 4 weeks. With 3 kids. During a pandemic. I'm trying to do my research but there is so much to consider. Do I sell my house first or just move out there and have the realtor deal with selling? Movers or a POD? Do I pack up my stuff and put it into storage or move directly into a new place? Do I look to purchase first or get a rental for a period of time before househunting? Ship my car and fly out? Median house prices are double from where I live, and the market is competitive. The pandemic complicates things with a baby in the mix. Feeling overwhelmed and looking for someone that's dealt with a similar situation to share their experience. Moving to Denver. [link] [comments]  | |||||||||||||||||||||||||||
| Wife due with 1st child in late March - health insurance advice Posted: 17 Oct 2020 05:37 PM PDT My wife is due with our first child at the end of March & my work insurance currently has open enrollment so thought I'd take a look and see if there was a reason for us to switch from the current High Deductible Plan we currently have through Cigna. Looking at the image below, I just can't see a reason to go for the PPO plan considering my employer gives us almost half the HSA $$ to meet our high deductible-deductible per year. I also contribute to the HSA (not maxing it out yet, working there). I figure the pregnancy, hospital bills, etc. will easily get us to our $3k deductible next spring & then I'll just be paying 10% for most things as long as we stay in network - it's 30% out of network, just isn't shown in the image. Our OBGYN & mid-wife are both already in network. Is there any reason to bump up to the PPO plan? Seems like both offer the same benefits after deductible but the combination of higher deductible + employer giving us a good chunk of $$ + lower out of pocket max fits better than lower deductible + no employer money + higher out of pocket max. Am I missing something obvious here? [link] [comments]  | |||||||||||||||||||||||||||
| Steps after final car loan payment Posted: 17 Oct 2020 07:41 AM PDT I just scheduled my final car loan payment. While I am excited that I will finally be done I'm wondering if there are steps I will need to take once the bank accepts my payment. I turned off automatic payments so that the bank will just get my final payment and no more, but what steps will I need to take after that if any? Will I get paperwork certifying that I paid off my loan? Is there paperwork I'll need to sign? The title to the car currently say it belongs to the bank, do I need to do anything to get a new title? (I live in New York State). Sorry if this is a silly question, but this is the first loan I've paid off. [link] [comments]  | |||||||||||||||||||||||||||
| Boss/company doesn’t want to pay me my last paycheck.. Posted: 17 Oct 2020 03:20 AM PDT 2 weeks ago I left my job because it got slow and I wasn't making enough to make ends mean. Yesterday, Friday, I noticed I didn't get my last paycheck. I messaged my boss and he's giving me the run around.. What are my options in this situation? Any advice is greatly appreciated <3 I'm in Illinois if that'll help in any way. [link] [comments]  | |||||||||||||||||||||||||||
| Venmo money from someone I don't know. Posted: 17 Oct 2020 03:31 PM PDT As the title says, I was sent $65 today from someone who I didn't recognize on the platform with the word "Golf" in the note. Im assuming that the person who sent it spelled the name wrong and I was the receiver instead. Not sure how to go about this. I only ever used Venmo to help pay for an art commission so alot of this is new to me. [link] [comments]  | |||||||||||||||||||||||||||
| Gym membership subscription is over double the agreed amount Posted: 17 Oct 2020 10:30 AM PDT I am currently enrolled in Anytime Fitness under an annual agreement and, after the first month, I was surprised to see the monthly payment be a $44 surplus compared to the agreed amount. I called the gym the next day and he said he would try to resolve it. That was almost a month ago and, calling the billing company, the amount has not changed. I called him back 2 weeks ago and he says he asked for it to be changed, and that we're waiting. The next payment is coming up and I was thinking about just doing a stop payment on it, but I'm not sure if the issues that will come from it is worth the trouble. Is there any sort of recommendation I can get that might be helpful? I would appreciate any and all. [link] [comments]  | |||||||||||||||||||||||||||
| What to do when you’re paid too much at a failing company? Posted: 17 Oct 2020 10:21 AM PDT My company is going through layoffs and morale is horrible. So I should look for a new job while I still have one right? I make 180k in a STEM role in a low COL area and I am literally finding 0 job listings that pay this much. Do I stick it out on the sinking ship? [link] [comments]  | |||||||||||||||||||||||||||
| I have 3 401ks. Consolidate or keep separate Posted: 17 Oct 2020 11:51 AM PDT I have 3 401ks 1 Fidelity 401k with admin costs of .27% and "consultant" fee of .35% annually. This is my current employment plan. I don't like the fund choices except for FXAIX and VFORX (vanguard retire in 2040). Bonds and international funds have high expense ratios except for an Vanguard mid cap and international index investor funds. 1 Fidelity 401k (former employer) with admin costs of .0425% annually. This is where I have most of my retirement assets as this asset mix was created by my former financial advisor and has performed nicely. Most of the funds have high expense ratios except for FXAIX and some other Vanguard index funds (non-admiral). Because it has performed so well over the past 5 or 6 years since my advisor changed it, 1 Empower Retirement 401k with admin costs of .28% annually. This is where I have the least amount of money but the fund are really great with FXAIX, FSKAX (fidelity total market), Vanguard large cap growth admiral, admiral international growth, admiral international developed and admiral intermediate US bonds. Up until late last year, I had everything in VFORX but wanted to get more aggressive on my growth so I allocated money to FXAIX and Vanguard large cap growth admiral. What's my play here? My least liked 401k plan is the one I'm currently employed at and has the highest plan costs. Should I keep my 3 401ks? Can I rollover my current 401k balance in my CURRENT fidelity plan into my Empower retirement fund? Should I complain to my HR department that our plan has weak offerings lol. What would you do? [link] [comments]  | |||||||||||||||||||||||||||
| Posted: 17 Oct 2020 08:35 AM PDT Basically she says she will get the policy and pay for it while she works, but asked if I would take it over if she can't pay for it for some reason because it would benefit me. I told her I would, unless for some reason something happened where I couldn't afford it either. She is being sold a term life insurance policy that is around $160 a month for 20 years, and she said it pays out $100,000. There is also a $125,000 benefit that covers her if she needs to go into a home. I don't know if this is a long term care rider or not. I just found out about them before posting this. Does this seem like it makes sense, or is she being overcharged? Thank you [link] [comments]  | |||||||||||||||||||||||||||
| Balancing debt repayment with down payment goals Posted: 17 Oct 2020 04:31 PM PDT Hello PF, I have already read the information on windfalls, but would like input on how to balance two goals that the windfall would go toward: - Debt depayment - Down Payment on a house My current net income is $3,481.90 a month. This is with insurances and 401k (with matching) already being deducted. There is 2 additional checks for $1,740.95 a year, with one in December for this year. What I am trying to manage is having cash on hand for a down payment and managing cash flow better. Relevant Notes: - I am renting until September 2021, as I have a 1 year lease. - I am targeting a house in the $200,000-$300,000 range. - Costs per month, including estimates on food and gas come to $2,695.06.
So I have a $70,000 windfall coming in for life insurance. If I pay off the car I will save $200 a month, I can pay the cards to save another $275 a month. These two would cost about $10,000. My issue is when it is worth paying something versus what I lose on hand. If I do not have a down payment when I would move out, I will likely require another 1 year lease somewhere and delay getting equity into housing. Spending $10,000 to remove interest gaining assets would reduce my long term cost, but could also add months of delay to the purchase of a home, again missing the target time. Am I aiming too high? Give me a reality check and help me make sure I am on the right line. My credit is excellent, the student loans are not hurting me and I qualify for the best interest rates in things, thanks to 3 years working at repairing my credit and learning from the suggestions here on personal finance, thank you all for that. EDIT: Changed costs to a table EDIT: I just wanted to thank everyone for their input. I ran with current costs and did not factor in anything that I could not control or that was a ways off. I currently can do overtime and have a raise in 6 months and 18 months for a decent bump, but the 6 month raise is not a lot and the 18 month raise will come after I would like to get housing looked at. I will be paying off the private loans, car, and credit cards. That will get me in to at least $1300 leftover per month. I am happy to finally be in a stable position with some job security. I just needed you all to snap me into things that are pretty obvious and give me a reality check. [link] [comments]  | |||||||||||||||||||||||||||
| I can’t afford a house in the city I grew up in Posted: 16 Oct 2020 10:58 AM PDT Wondering if Reddit has any advice for someone who feels like they're being gentrified out of the city they grew up in. I live in the San Francisco Bay Area, North Bay to be exact. My parents grew up here, their parents grew up here. My mom and dad bought their house for 250k in the 90s. It's now worth around 1.1 million. I'm 25, still live with my parents. My girlfriend and I are trying to move out and start the next chapter of our lives. Between the 2 of us we make about 160k pre taxes. Our total monthly expenses once we move out (not including mortgage or other home owning costs) will be roughly 2500 total. Being a homeowner is something I've always wanted, and assumed it would work for me like it did for my parents, but as I got older I'm realizing how difficult it's going to be. I will not be able to find a house for under 600k, in the city I grew up or any surrounding areas. And even if I do all the rich tech people are moving out of Silicon Valley and San Francisco into more urban areas because of COVID and they realize they can all work from home, and they are more than willing to pay over asking, something I can't do. We're considering buying a condo and living in it, even then the cheapest condos are roughly 300k. Renting a home would be around 2800/month. I know people will tell me, and have told me, that I should just move. But I want to live near my family, my parents will be great resources for my future, and I have a very steady job I'm not looking to abandon. I don't know a ton about real estate or investing or home ownership, but I'm trying to educate myself as much as much as possible. When I type in my information to a "How expensive of a home can you afford" calculator, it says roughly 250,000. Between my girlfriend and I we have ~100k in the bank. The only reason we've been able to save is because we've been living at home. Can my income support the COL here? EDIT: Want to clarify, my girlfriend and I will be getting married before we buy a house. We may even just go to the courthouse soon and have the celebration after COVID. We've been together for 9 years. We will likely live with our parents for another 6 months or so, then rent an apartment. Try to save as much money as possible. Current Expenses living at parents house, partner and I combined: Auto payments: 588 Auto Insurance: 300 Gas: 200 Student Loans: 160 Groceries/Eating out: 750 Phones: 130 Other: 200 Total: $2000-$2300 [link] [comments]  | |||||||||||||||||||||||||||
| Home warranty doesn't cover water damage for furnace Posted: 17 Oct 2020 05:49 PM PDT Sorry in advance if this isn't the right place for this. We bought a house 10 months ago and the condensate pump that came with the house never worked. During the first hot day of the summer, we came home to water leaking all over the furnace, we had no idea what a condensate pump was (reservoir is on top of furnace). After doing research, we replaced the pump and problem solved. This was fine until the first cold day of fall when we noticed the furnace wasn't heating. We called the home warranty company and they got a tech out here and he informed them the cause was water damage, which isn't covered. The furnace is 18 years old, and we thought we could get them to replace it when it finally pooped out. Now we're paying $2000+ out of pocket. Is there any way we can claim that the water damage wasn't our own negligence because the condensate pump was broken when we bought the house? [link] [comments]  | |||||||||||||||||||||||||||
| Posted: 17 Oct 2020 05:41 PM PDT So I have saved close to 20K and I plan to continue to do so for another 4-5 years aggressively. I have two choices:
Is there any other option that y'all feel is a better option ? [link] [comments]  | |||||||||||||||||||||||||||
| Closing my oldest card - Any Repercussions Posted: 17 Oct 2020 07:49 PM PDT Hey Everyone, What happens if I close my oldest card? I got the capital one secured card in 2016 but Capital one refused to graduate it. They also refuse to up my Quick Silver limit pass $750. I have zero debt, 100% on time payment, and currently a 3% utilization. I don't plan to open any new cards afor the next 3-5 years. Would anything happen if I close my oldest card? Like can Amex just close my Green or Gold cards if my credit age tanks? Current Cards 2018-2020 2-3 years Amec Gold - Amex Green AMex Blue - $10,000 Apple Card - $5000 Chase FU - $2000 Chase Amazon - $5000 Citi Simplicity - $5000 CIti AAdvantage select - $2500 Oldest Cards 2016 Capital One Secure $250 Cap One Quick Silver $750 Credit Score 780 AVrg credit history is 2 yrs 5 months [link] [comments]  | |||||||||||||||||||||||||||
| Looking to buy a house. Should I invest savings now? What's the cost of gaining money? Posted: 17 Oct 2020 02:50 PM PDT Kind of a clickbait title, but I'm very new to investing. I've always been told to put money into my 401k but it doesn't seem to grow as fast as they say. I give the context to explain where I am on the knowledge scale. I'm looking to start by investing 10k. I realize the cost of losing money, but I'm curious about the cost of gaining money. Let's say we buy a house within a year. I'm looking at an S&P Fund that issues dividends at .50 a share average (.60 last few years then covid saw a drop) every 3 months it seems. That cumulative increase combined with the recent drop and the market due for an eventual climb makes me wonder if it's even possible to gain an extra few thousand dollars. Even if I can though, what's the cost of taking those earnings out or at least taking out the amount I put in come tax season? Also should I put x00 a pay period into an ETF or index fund or would that be better served adding to savings? I realize this is all a per person situation but I'm hoping if there's no straight answer you could point me in the direction of a somewhat chronicled bucket of knowledge, like an investing for dummies that would help me learn the hidden costs of investing and how they affect taxes and whatnot. [link] [comments]  | |||||||||||||||||||||||||||
| Posted: 17 Oct 2020 07:27 PM PDT Hi all! I'm moving across country next month and need to get my car in my name. My mother is the one on the car loan at a local credit union and title and I am on the registration. Here are the details that I know: -the car loan is for 36 months, I will have had this car 2 years in April. -I don't have a clear indication of my credit score, my capital one app says 705, discover app says 627, and lowest of all is my Wells Fargo which says low 600's. -my current interest rate is about 6.5 (in the 6 range) and I pay 200 a month on my loan. -I recently quit my job after being employed there for close to 2 years due to my move. My questions is this, is it worth it for me to refinance or will I be denied for my lack of income? I've been working on my credit for the past year to enter my marriage with at least average credit and I'd hate to undo my work and be denied. If I am denied is there another option? I'm allowed to take the car with me, but I would have to send my parents money electronically and we would both prefer to not do it this way. TL;DR me have no job average credit and am moving across country, is it worth it to try to refinance? [link] [comments]  | |||||||||||||||||||||||||||
| Is it considered fraud for Canadians to get US credit cards (entails residency in the US)? Posted: 17 Oct 2020 07:07 PM PDT Hi all. I'm a Canadian citizen working in Canada but have plans to move to the US in the next few years to work. In the credit card r/churning (getting sign-up bonus) community, there is a way for us Canadian citizens to get US credit cards. Basically, it's to get an individual taxpayer identification number (ITIN, similar to SSN but for people who can't get SSN) by saying that you have the intent of publishing on Amazon.com (aka sell things on Amazon US). After receiving the ITIN, you would apply for a US credit card like Amex or Chase using your ITIN and sending the card to a P.O. Box in the US as your 'domicile address'. I have had my ITIN for 2 years now with a handful of Amex cards and 2 chase cards. I'm starting to think if getting U.S. cards is considered fraud (since not living in the U.S.) and whether it will affect my chances of getting a TN visa. When applying for TN visa, will they do a U.S. background / credit check? If so and they find out that I have been living at a PO box in Blaine, WA for the past 2 years, what will happen? Will I be refused my visa just because I have been playing the U.S. card game? I know the worst would just be the banks shutting my accounts down, but will there be further implications by the IRS / visa granting part of the government? Is there anyone to speak to about this? If this does have an impact, will cancelling my US cards now make a difference, or is it already too late? FYI I do not plan to get US green card, probably just TN visa. Thanks. [link] [comments]  | |||||||||||||||||||||||||||
| IRS Refund Status still doesn't show my paper return from July Posted: 17 Oct 2020 06:44 PM PDT I mailed my 1040 paperwork in on July 7 via certified mail. It was delivered July 14. I have still not received the refund, and when I checked the IRS refund status site it couldn't find it; I tried every date in July for the approximate time of filing. Is there any public information about how backed up they are? The only news article I could find was from Sept. As I'm sure someone will ask why I filed by paper, I like filling the forms out and doing the math myself so I understand my taxes better, and I refuse to pay the tax software companies for something that should be free to do electronically (I make over the free file threshold). [link] [comments]  | |||||||||||||||||||||||||||
| How best to prepare financially for Law School? At 35... Posted: 17 Oct 2020 06:44 PM PDT Currently doing well—$200k/yr comp...but will leave my job in July of next year for law school. During law school I will have little to no income for those 3 years. Between now and then, for this tax year and next—what should I be doing to plan for those 3 years? Thank you all! [link] [comments]  |
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