Personal Finance Dad is dying I am now homeless need advice |
- Dad is dying I am now homeless need advice
- Simple is being shut down :(
- Alliant Credit Union 2% Visa Card Rewards Change
- Do all US citizens get social security benefits after 65?
- I am 13, have around 500 dollars saved, and would like to learn about stocks. Should I use some of that money and invest/ play around with it?
- Incoming Divorce, Brain isn't thinking properly, Can someone look over my plan?
- Unemployed but made money through stocks and bitcoin this year, what do I do?
- Can you change annuity servicer? Transamerica Vanguard
- Blood Test Billed $1700! Please help me!
- Use savings to pay off loan?
- (Ohio, USA) After 10+ years Chase closed all my credit cards because my checking account couldn't cover one automatic monthly payment, what bank doesn't suck in 2021?
- Someone I know owes a SCARY amount to the IRS.
- Rental car liability insurance (California)
- Should I get a new credit card or increase my current credit limit?
- IRS will not stop saying we owe them money, even though we've already sent them proof that we reported our taxes correctly. We're at a loss...
- Spending savings on what we saved it for. Still feels lousy.
- After years of debt, I'm afraid to up my rent.. can I afford it?
- Schwab Portfolio Question!
- How much should I save to move out?
- Dad wants to buy a house under my name so that when my parents pass away I will not be hit with taxes on it?
- Should I pay off my student loans ($6k) or beef my E fund from 4 months to 6 ?
- Allowing aging parent to check Fidelity investments online, but limiting ability to make any trades, transfers, etc?
- Received a Dept of Labor settlement check in 2020, W2 was sent in 2018 and only found out recently. What should I do for filing taxes?
| Dad is dying I am now homeless need advice Posted: 07 Jan 2021 07:44 AM PST Hi All, First time posting on Reddit as honestly, I'm at a loss on what to do. Me 25 UK going through UNI (COMP SCI) has left his job last month due to University making it nearly impossible to hold down a full-time job, Due to circumstances not in my control my Dad 86 has caught coronavirus. Doctors are saying it's not looking hopeful... I have spoken with him and we have both said our goodbyes as this may be the last time I am able to speak with him. The situation I and GF (who has lost her job due to COVID) was planning on moving back in with my parents however due to situation this is now impossible. In addition, my mum does not work and was relying on my dad for income she is now unable to pay the rent. I am honestly stuck and have no idea what we can do or apply for with my world crashing down around me especially with the heartache I feel from losing my dad. I'm coming on Reddit to ask advice on what to do in this situation. We are currently in an AIRBNB which only lasts until Sunday and will be Homeless coming Sunday. I have £1000 left in my bank account and with no job and no finances, I'm really worried about our future and my ability to look after my mum. Edit: (as I realized posting this may not reach all of you) sorry I am new to Reddit. Wow, Guys, honestly I just came back to Reddit and saw all of your posts. I will go through every single one apologies if I cannot respond to all of them but your overwhelming support has helped me realize there is hope. An Update from my situation: I have sent my CV around to various I.T Support roles and will take your advice on entering a help desk position. I will also take a look into UpWork as I can create websites and do other things with the knowledge from my ongoing COMP SCI degree. Regarding housing, for my mum, my dad had some hidden funds that will be able to cover her rent for 4-5 months. She has a house back in the Phillippines (which I did not know about) so I am trying to convince her to move back but as my mum but at the moment it is hard to get through to her which I understand as it's a highly stressful time. I and my GF have found temporary accommodation with a friend for short term which will help us get back on our feet. My Dad is making a hopeful small recovery and is now eating and drinking a little. But with your advice and words, I feel prepared mentally and have the tools I need in-case he does pass... Thank you all so much, words cannot express the emotions I feel reading your comments. I am glad to have posted here from the bottom of my heart I owe you all. I wish all of you good fortune and a safe 2021. [link] [comments]  | ||||||||||||||||||||||
| Posted: 07 Jan 2021 10:16 AM PST Here's the text from the email I just received.
— The Team at Simple [link] [comments]  | ||||||||||||||||||||||
| Alliant Credit Union 2% Visa Card Rewards Change Posted: 07 Jan 2021 12:31 PM PST I don't know who needs to see this, but I thought it should be more widely known. This is on their 2% rewards card. I went to redeem rewards this month and noticed that the exchange rate wasn't what I was expecting. On Jan. 4 things changed. You still earn 2% on purchases in the form of points. However, points are no longer worth $0.01. They are now $0.0067; effectively turning the 2% reward into a 1.5% cash equivalent. If this was communicated to cardholders in some sort of official capacity then I missed it... Worth knowing when considering rewards cards. [link] [comments]  | ||||||||||||||||||||||
| Do all US citizens get social security benefits after 65? Posted: 07 Jan 2021 09:08 AM PST Sorry if this is a dumb question. Do all retired ppl get social security benefits? Independent of income level? How does this factor into retirement calculations? [link] [comments]  | ||||||||||||||||||||||
| Posted: 07 Jan 2021 05:23 PM PST I can image that would be unwise. I'd probably lose all of it, also, I don't even understand stocks- like, at all. It's pretty pathetic. But yeah. What's your guys advice? [link] [comments]  | ||||||||||||||||||||||
| Incoming Divorce, Brain isn't thinking properly, Can someone look over my plan? Posted: 07 Jan 2021 06:26 AM PST I (45f) am getting divorced, lost my job to covid but dont' qualify for UI (I had to quit to take care of my son when everything shut down) I have good prospects on work but nothing yet, I'm optimistic though. I should be able to easily find something at 40k but don't have a college degree so that seems to be my ceiling. Won't be asking my husband for money or his savings/investments etc, I will stay in the house as he wants to leave, when we eventually sell i'll get some percentage of the equity that accrues between now and then. We owe 90k on the house that the kids (10, 18, 19, 20) love so we are keeping it to provide stability, value is somewhere around 200k. We planned to do some sort of refi to get the payment down to something I can manage on my own. I have 8k in cash I have 18k in cc debt Owe 8300 on a car that has a KBB private sale value of 8-9k 22k in student loans I can't really think straight so I'm asking yall to tell me does this sound fucked. He's leaving to 'find out who he is' which is really healthy. He's been miserable. EDIT 2: My head hurts and I need to cry for awhile and get back to applying for jobs. I think I heard what I needed to hear. I really appreciate all your help. Thank you all for the kind suggestions and advice. EDIT: I should have added. The kids aren't his. We've been together for 7 yrs but only married for 2. The older kids are willing to help with bills. [link] [comments]  | ||||||||||||||||||||||
| Unemployed but made money through stocks and bitcoin this year, what do I do? Posted: 07 Jan 2021 10:58 AM PST Hello, I'm located in California if that matters. I've been unemployed for the past 1.5 years but in that time I've been trading stocks and cryptocurrencies. I'm a little unprepared for what to do at this point. When I started trading, I didn't have any income, not much in my bank account, and was/still am on medicaid (I'd rather not get into specifics past that). What should my next step be to withdraw the money that I've made, legally? [link] [comments]  | ||||||||||||||||||||||
| Can you change annuity servicer? Transamerica Vanguard Posted: 07 Jan 2021 04:58 PM PST Yes I know generally annuities are not recommended but this one is already bought and paid for and actually makes some pretty awesome returns. Anyways a few years ago a relative left me some annuities after they passed. They were from multiple companies but long story short the only way to keep them (not tax advantageous to close anytime soon for me) was to have them all serviced by Vanguard. They turned into non-qualified stretch annuities? Basically I can take the money out whenever I want but they have RMDs every year that increase with my age. Everything was going fine, their interface was a little clunky but they were super helpful and worked with me whenever I needed anything it was solved within 5 minutes. Also it helped that I had other accounts with them. Fast forward to this year when Vanguard transferred all their annuities to Transamerica. Holy shit this is the worst financial company I have ever dealt with in my life. I've been trying for two days to take my RMDs for the year out and they literally can't do it. No option online. Called in – waited on hold for 2 hours, "I'm sorry the vanguard accounts are serviced by someone else I'll transfer you, BTW that number is not listed on our website and you have to call in to get it" 4 F***ING HOURS ON HOLD!
I don't know what to do at this point. I would really love to not take the tax penalty but this is just unbearable. I don't think I can deal with the stress of this company being such pieces of shit every year when I want to take my RMDs. I cannot believe a company this large can be this bad. TLDR – Can I transfer my stretch annuity to another company or am I screwed? [link] [comments]  | ||||||||||||||||||||||
| Blood Test Billed $1700! Please help me! Posted: 07 Jan 2021 07:37 PM PST Hi everyone! I really really need help! FYI, I use Anthem BCBS of NC. I went to see a hematologist last November 2020. Before I went in, I made sure to call my insurance ahead of time about the estimated price of the doctor and the relevant blood tests. We have an app from our insurance to check the estimated price in advance so I have an idea about how much it could cost. This evening, I received a bill of $2200, and $1700 was for the blood tests. I have done my research because I use Lab Corp with my other doctor, and the bill always come in like $6-$20 for each blood tests. I had around 8 blood tests done that day at the doctor office and got the result 5 mins after, so I expected to pay around $100, and the most is $200. One of the blood test is for Extractable Nuclear Antigen Antibodies, which I checked around is only $23 for places like Lab Corp. However, my bill for this is $600!!! They also mentioned that they use Lab Corp too, so why was the bill so much different? I really cannot accept it. CBC was $6 last time and this time, it is $32! Everything is just overcharged. I called Anthem BCBS, and the people there didn't help much. They said it is the way they bill it. I checked FairHealth and a few websites, and the price is usually $20 for that. How can I dispute this if it is overpriced or overcharged or wrongly billed like this? How can I fix this? I expect to pay $500-$600 for both doctor and lab, but now it is almost $2200! Please help me... :( [link] [comments]  | ||||||||||||||||||||||
| Posted: 07 Jan 2021 05:43 PM PST Have a loan for 7k at 10% Apr and have about that much in a basic local credit union savings account from the last year. The hitch is that the 7k in savings was in place of a 401k because my contracting firm doesn't have one. I have other 401ks from past jobs - is it worth it to just pay off the loan? [link] [comments]  | ||||||||||||||||||||||
| Posted: 07 Jan 2021 07:14 PM PST After 2 hours on the phone they say all I can do is re-apply for a new card. I'm livid. I had set up auto-payments for the full balance, last month my checking was a few hundred short so what do they do, close my two personal and one business credit cards, no email, no warning, nothing. They tell me there is no way to contest or reopen them but I can apply for a new one. Fuck. Chase. Do not use them. 10 years, always on time, always had money in my account then out of the blue Ive got to fall back on cash only. What an absolutely horrible institute. What banks don't suck? I have USAA insurance and hear good things. I still have an old Navy Federal account I don't use because I like have access to brick and brick 🧱 and mortor locations. Can anyone recommend an Ohio bank not run by the devil himself? Thanks! [link] [comments]  | ||||||||||||||||||||||
| Someone I know owes a SCARY amount to the IRS. Posted: 07 Jan 2021 03:18 PM PST I'm talking over 100k. They had an online business years ago which reported their income at around 90k for a few years. No taxes paid or withheld during that time. This person still has receipts and expenses for the business during this time hoping to deduct some of it. Some other records from those times still exist. (~2005 - 2010) Their spouse is in the same boat, having been wrapped up financially in the business as well, and somehow they both owe about the same amount in taxes (over 100k each for these missed years.) I'm thinking this may be a mistake of filing separately when they needed to file jointly? I'm not sure on this but maybe this is not unheard of? I told them they needed to figure this out but they bury their head in the sand. They think if they try to start working on it that it will be like stirring a hornet's nest. I'm really worried they're going to lose their house or worse. What advice can I give them to get this straight? [link] [comments]  | ||||||||||||||||||||||
| Rental car liability insurance (California) Posted: 07 Jan 2021 06:41 PM PST I reserved a car with Fox for a great price through a 3rd party website, and when I picked it up I was told I needed liability insurance. I opted out of LDW because my credit card provided coverage for that, but I was told I needed liability insurance (at a not great rate naturally) to drive legally. Funny thing is I have never paid for that in the past when I booked with rentalcars.com. Did I get scammed or was I driving without insurance in the past? edit: I don't own a car or have an auto insurance policy in my name [link] [comments]  | ||||||||||||||||||||||
| Should I get a new credit card or increase my current credit limit? Posted: 07 Jan 2021 06:18 PM PST My credit utilization rate is pretty steadily under 10% every month and I haven't had that many inquiries in the past two years (only 2), so I figured I can try to expand my credit limit/line a lot. The question is should I apply for a new card at a different bank or should I increase my limit with the bank I have account with? Any advice would be super helpful [link] [comments]  | ||||||||||||||||||||||
| Posted: 07 Jan 2021 12:06 PM PST My wife and I received a letter last year from the IRS saying that we misrepresented our taxes for 2018. At the time, I was a full-time student and received the education tax credit which gives students a 2,500 credit. I had to pay for my tuition with a loan, making me eligible for this credit. I wrote a post about this last year: https://www.reddit.com/r/personalfinance/comments/ikr4pg/i_received_a_suspicious_letter_from_the_irs_today/ When this first happened, I called the IRS and they told me that I just needed to send them proof that I was enrolled in school and that I paid for school either out of pocket or with a loan. I sent all this information to the IRS and I have since received two more letters in the last week saying that they still believe I have misreported my income. They don't provide any explanation as to why they believe this, as it is just a straight-up copy of the first letter they sent me last year. My wife and I are in our early 20's and we don't make much money, so needless to say, this has caused a lot of stress in our life that we greatly wish to overcome. Has anyone else been in a similar situation? If so, how did the issue get resolved? [link] [comments]  | ||||||||||||||||||||||
| Spending savings on what we saved it for. Still feels lousy. Posted: 07 Jan 2021 10:27 AM PST I guess I need a pat on the back and reassured. We saved, and that money is covering what it was intended to cover. But damn I'm going to miss looking at my bank app every day and seeing that big happy number. My grown up brain is so glad we were able to have a plan and execute it. My kid brain is sad. How do you all handle it, when it's time to "unsave" and start again? [link] [comments]  | ||||||||||||||||||||||
| After years of debt, I'm afraid to up my rent.. can I afford it? Posted: 07 Jan 2021 08:02 PM PST 33 y/o, married with a 3 y/o kid. I currently pay $2,000 a month (NYC) for a 2 bedroom railroad. Its falling apart. I've killed 16 mice in the last 3 months alone. Landlord problems, I won't get into it. Thanks to some unstable job issues and a new kid, I was in $45,000 in credit card debt. Thanks to a new job and a quick promotion, that is now down to $16,000. After taxes (and before bonuses, which occur as stipends every other month ranging in $100 - $2,000 every period) we pull in $10,600 a month. At present levels of spending, I believe we can pay off our outstanding CC debt by August. We are no longer paying interest on any card. We looked at a 3BR, 2bathroom beautiful apartment with a dishwasher, parking.. the works. It was $2,800. I panicked. I'm so scarred from falling into debt.. can someone help me make sense of if we can afford $2800 a month? Current Spending Breakdown *Rent: $2,000 a month *Car Insurance: $300 a month *Student Loans: $550 a month (my wife + mine) *Daycare Costs: $1200 a month (this actually goes away in September, but we are working on having kid #2 and this cost will come back in 12 - 24 months so I don't want to remove it from my budget) *Current Outstanding Credit Card Debt Payments: ~1,500 a month *Groceries + Medical Bills (Therapy) / Other Daily Living Expenses (Tolls, MetroCard, etc): $1,500 a month *Money currently in savings: $12,000 (I could use this for credit cards but we aren't presently paying interest and this was our emergency move fund, like I said our place is literally falling apart) Typing this all out makes me think duh you should be able to afford an extra $800 in rent. But I'm afraid we're going to have trouble saving money for a house in 3 - 5 years. I'm not sure where to turn. Should I look into a professional? If for some reason someone is actually reading this far, just.. thank you! I appreciate you listening to my rambling. [link] [comments]  | ||||||||||||||||||||||
| Posted: 07 Jan 2021 05:48 PM PST Hi all, 24 y. old recent grad here with a question on how you guys feel about a portfolio split by 50% SWPPX or SWTSX, 10% SWSSX, 39% SWISX, 1% SWAGX. I plan on making this both in my ROTH and taxable brokerage account with Schwab, but maybe with a little higher piece of SWISX since I read somewhere that international funds should be in a taxable brokerage account so you can take advantage of the Foreign Tax Credit every year on your taxes. Is this leaning too strong in one area over another? Too little of anything? Welcoming all thoughts! My current ROTH is looking like 70% SWYNX 30% SWPPX, but I wanted to make it more aggressive and felt like the SWYNX target fund wasn't good enough for me. Side question also: should I sell all my SWYNX before making this change to my portfolio? Or is it ok to keep it and just not put any further money in it? [link] [comments]  | ||||||||||||||||||||||
| How much should I save to move out? Posted: 07 Jan 2021 12:27 PM PST Hi all! I am a new college grad (as of august) and got my first post college job in September. I'm currently working from home and living at my parents house. I am a consultant in business and currently doing a project that does not have a specific end date. I get paid $21 an hour currently and work 40 hours a week. Basically, I want to move out. I will be 27 in April and I loved living on my own in college, however I want to be smart about it. When I have saved $10,000 i was planning on moving out. I'm almost to my goal but I do have some concerns though. My mom wants me to have $20,000 tucked away instead of 10,000 (note she doesn't want me to ever move out in general) would that be smarter? I am looking at apartments that are 950-$1,000 in rent. I don't have any debt. I pay 160 for insurance and car bill, thats the only thing I have to worry about. Basically is 10,000 enough or is my mom right? How much did you save up before you moved out? [link] [comments]  | ||||||||||||||||||||||
| Posted: 07 Jan 2021 02:59 PM PST So my dad pulled me aside today and said that he intends on heading down to Florida in the next couple of weeks and wants to buy a house - but buy it under my name. I'm 21, just finishing my senior year of college and do not technically have a full time job. I work a lot while going to school full time and make ~15k a year give or take, for background information. His reasoning behind this is that when him and my mom pass away, the house will already be under my name, so I do not have to deal with the tax issues that would arise if my parents were to own it. It would essentially be me owning the house in the banks eyes, but I would not be the one physically paying the mortgage. Does anyone know what the tax situation looks like on something where if my parents were to own a home and pass away, with me getting it? I also have 2 younger siblings if that makes a difference. Would me being the technical owner of a home impact my credit score/ability to get my own home? I am also looking to purchase my own home in the next ~2 years. [link] [comments]  | ||||||||||||||||||||||
| Should I pay off my student loans ($6k) or beef my E fund from 4 months to 6 ? Posted: 07 Jan 2021 05:19 PM PST I have around $6,100 in student loans left (started with $27k in August 2018). The interest rates average 4.10% (before covid relief, as interest rates for federal loans are currently 0%). I have been paying on average $500-800 towards these on a monthly basis to get rid of them. Here is my general standing:
I maxed my Roth IRA this year due to there being no interest on my student loans for 6+ months. I also spent a few months beefing my E-fund up to $13,000 which is now at roughly 4-5 months of expenses covered. SHORT TERM, should I: a) beef up E fund to $15,000+ (reach the 6 month mark at $2,500/mo expenses). This would take ~2 months OR b) finish off student loans by combining work bonus and stimulus check (~$1670 after taxes/pleasure purchases) and total loan/savings/retirement budget. This would take ~4 months LONG TERM: Divert ~$1,220 budget to retirement and saving for a house [link] [comments]  | ||||||||||||||||||||||
| Posted: 07 Jan 2021 07:17 PM PST My father-in-law is declining quickly due to a long fight with Parkinson's. He spent his career as a stockbroker and still likes to look at his investments on Fidelity multiple times a day. The issue is he's quickly slipping mentally and he has caretakers around him all day long, who can easily access his Fidelity account in addition to his other forms of ID. We are concerned someone opportunistic could use that access to execute trades, transfer money without his knowledge, or even add themselves as a beneficiary to the account. My wife's sister is already handling the active management of this account with her father's consent. We'd still like him to be able to see how his investments are performing online, but we want to prevent his login from being able to make any trades, transfers, or changes to the account. Is this possible on Fidelity? If not, is there another site where we can set up a mirror of his portfolio including number of shares etc so he can still check in on it regularly? (also posted this in AgingParents) [link] [comments]  | ||||||||||||||||||||||
| Posted: 07 Jan 2021 01:34 PM PST Earlier in 2020 I received a check from the US Department of Labor from a former employer as part of a settlement following a FLSA investigation. Since it was for lost wages, it was taxed at the highest rate. I have the original letter sent by the Department of Labor detailing everything. When checking ADP for some tax documents from an unrelated employer, I saw a 2018 W2 for the exact amount of the settlement check and taxes. My question is what should I do about this? Do I file it with my 2020 taxes or do I make an amended return on my 2018? I'm gonna talk to an accountant about it, but I was wondering if there's anything I should know before I do. Thanks. [link] [comments]  |
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