Personal Finance Are there any especially high-paying jobs you would wish a college kid knew of? |
- Are there any especially high-paying jobs you would wish a college kid knew of?
- The mistake I made with life insurance
- I won $15,000, should I invest it or use it to pay off debt?
- 74, mostly retired, livable fixed income, looking for overall finance and investment rebalancing advice
- First Time Apartment Tips?
- Best Plan with Starbucks Stock at Fidelity
- I want to save for my nieces' and nephew's college, but their parent's aren't the best at money management. Best strategy?
- MFJ one income. Wife did a little MLM, no 1099
- To mortgage or not to mortgage
- 3 months later, Bank of America is refusing to refund me on my returned item. I really need help!
- Drowning in CC debt. Need some advice.
- Mortgage company sent me a no cost refi for a lower APR, whats their angle?
- 21 years old creating my Fidelity Roth IRA account. What do I invest in ?
- Recently became a "high earner" family and planning to go without a financial advisor, is there anything missing that a good financial advisor would usually recommend?
- Advice on what to do with $45,000 cash to minimize debts. Thanks.
- Studying abroad, looking for a credit card with no foreign transaction fees
- I can finally pay my car off, should I do it?
- Best strategy to handle my student loans?
- How to Handle DTI With Joint Mortgage
- HSA cash amount?
- Home mortgage question - where is the flaw in my logic?
- What else can I cut back on?
| Are there any especially high-paying jobs you would wish a college kid knew of? Posted: 27 Feb 2021 11:18 AM PST I know Costco has an amazing $16 minimum wage, but I was wondering if you knew of any job that would pay even more than that? I'm sorry if this question seems ungrateful because of course having a $16 hourly wage would be amazing and such a blessing. It seems like many of you know a lot about the best places to work in terms of pay. I need to save money for school. Thank you for any help! I truly appreciate it! [link] [comments]  |
| The mistake I made with life insurance Posted: 27 Feb 2021 11:12 AM PST I got a small, term life insurance policy after my second child was born, but it's been too small for some time. I always meant to get around to getting new life insurance, but I was completely healthy and gained a bit of weight to me about 15 pounds overweight for my height. I kept thinking I'd reapply when I got to my ideal weight, and so I procrastinated. In 2020 at 35 years old, I've had health issues all year and was diagnosed with an auto-immune disease. Now I am applying for life insurance and rates are much worse than they would have been if I applied a year prior. Thankfully, I am not the main breadwinner so I can get by with a smaller policy. If you have kids or someone depends on your income, get it while you're healthy and don't wait to see if your health improves. I would suggest that you get a small policy even before you meet these milestones in case you can't get one in the future. Most have living benefits these days where you can pull half of it out if you get a terminal illness, and that seems useful even while single. Don't rely on workplace coverage only as it can disappear any time, especially if you get too sick to work. I bought my first policy from my auto insurance company and pay more than I should have for it. I'm still happy I have it, but I wish I'd looked into it more. I was sold on the bundle discount, which still wasn't that great of deal. Also, use an independent agent or a company or website that sells many different policies, there are many sites out there. I used one this time and found out that some insurers are better for certain health issues than others and they will direct you to the most favorable one, so don't lie. My husband applied at the same time and saved $30 per month going with a company with generous blood pressure requirements over one we just blindly applied to. Interestingly, the one he blindly applied to ended up being the best one for my health issues as they give women much better rates. I wanted to share what I have learned this week, and hope it helps someone out there. It turns out, even Millenials aren't immortal. Edited to add: Every parent needs life insurance, no matter their income. Stay-at-home parents give a huge economic contribution to the household. Childcare, driving the carpool, shopping, meals. Think of all the things that would be incredibly difficult to do as a sudden grieving parent. Not to mention the fact that the working spouse would have to go right back to work once PTO is used up. Giving no time to settle the kids into a new reality. [link] [comments]  |
| I won $15,000, should I invest it or use it to pay off debt? Posted: 27 Feb 2021 01:14 PM PST Hey guys, Probably a dumb question and I think i already know the answer here but I'm curious what you guys think. I graduated from professional school a few years ago now . I have a decent job but because of my dumb spending habits right out school and running into a few life emergencies on the way, I have accrued a pretty significant amount of credit card debt. I've started getting into stocks and crypto a year or two ago, just a little bit here and there but always thought "man If I had more money to put into it, that 10-20% increase would be a great profit". This leads me to my question. Should I try investing all or the majority of the $15000 and see what gains I can make or should I go ahead and do the smart thing and pay off all the debt. Then slowly try to save it all back again. Again, just typing this I know what the answer is, but trying to invest invest it is very tempting. [link] [comments]  |
| Posted: 27 Feb 2021 02:20 PM PST Hi r/PF, I'm 74 and retired and have been pretty hands-on with my investments for a while. Have been extremely conservative due to my concerns about an economic crash with all the market growth in the past 10 years. Am now looking to rebalance things in line with more traditional wisdom and would appreciate any advice on what to do with the assets mentioned below.
I don't have much in the way of specific goals, just trying to be smarter about these things. I am renting now but would maybe buy a house at some point or rent a second house in a more hospitable climate. I take a $5K-$10K trip maybe every 1-2 years. Maybe I'd like to have the maid come more often. More details on investments below... I know there's room for improvement here, just not sure what the best thing to do is for my goals (which are not particularly aspirational) and age. I don't mind some risk since I'm not really particularly dependent on this money for living. 6-8% growth would be cool but doesn't really impact my life substantially one way or the other.
Thank you, appreciate any guidance! [link] [comments]  |
| Posted: 27 Feb 2021 07:25 PM PST Trying to move into my first one bedroom apartment in 6 months. I'm 18 making 2000-2500 after taxes each month, 693 credit score with not a lot of history, my parents would cosign. I'm just trying to find some tips on how much I should save for furniture maybe or just how much I should save in general or would be paying up front? I know it depends on location so just a vague idea helps too. Thanks. [link] [comments]  |
| Best Plan with Starbucks Stock at Fidelity Posted: 27 Feb 2021 06:17 PM PST My wife was a partner at Starbucks and has shares from when she worked there. We aren't beholden to keeping the stock and would like to make the best use of the money they represent. She worked for them in mid-00s. What would be the best course of action if we intend to keep dollars invested for retirement? [link] [comments]  |
| Posted: 27 Feb 2021 12:15 PM PST If I just gave my sister cash and told her, 'save this for the kid's college'. There's literally zero chance that the money wouldn't get spent on daily living expenses. They have no savings, emergency fund, retirement accounts. Nothing. That's the main reason why I feel it's important for me to save for my nieces and nephew's future, as I'm much better and managing money for future goals. I know my sister, and if I even tell her about me opening a savings account for them, the time will come where an emergency comes up and my sister will want me to withdraw that money and give it to her. For that reason I don't really want her to know that I'm saving at all. The kids get SO. MANY. PLASTIC. TOYS for each and every occasion (b-days, xmas, etc). My anti-consumption leanings cause me to want to avoid contributing to the sea of plastic junk currently littering the floor of their 'playroom' (ie, plastic landfill). And instead, use funds previously spent on junk for something that nobody is currently doing for those kids; saving for their future. So I'm in a tough spot. I've been reading that it's a bad idea to be saving for relative's without their parents knowing about it, but I also can see being hit up for this money for an 'emergency' at some point in the future. What to do? Should I just open a brokerage account for myself, save and invest, then gift them the money when they turn 18 or 21? [link] [comments]  |
| MFJ one income. Wife did a little MLM, no 1099 Posted: 27 Feb 2021 10:19 AM PST So my wife dabbled in an MLM (I wasn't for it but sometimes people got to learn the hard way). She made just under $400 according to the receipts for this year. Apparently If you make less than $600 they don't give you a 1099 Since we are married filing jointly I assume I need to report (In addition to my W-2) her $400 even though there is no 1099 on schedule C and SE (though No extra SE taxes are due on <$400 in SE income, just regular income tax) Lastly can I deduct the $200 or so she spent on samples ($100) and the cost to join the MLM (100$) on schedule C as well? Under "other". Fortunately she's not doing it anymore, good lesson in wasting one's time! Thanks! [link] [comments]  |
| To mortgage or not to mortgage Posted: 27 Feb 2021 03:57 PM PST Curious if I should pay off my house if possible (getting a bonus that I think might cover the remain principal) or keep a mortgage for the tax depreciation. Remaing balance is $100K. Bonus will be so.ewhere between $60K and $100K. Currently at 2.75% interest. [link] [comments]  |
| 3 months later, Bank of America is refusing to refund me on my returned item. I really need help! Posted: 27 Feb 2021 05:58 PM PST I made a purchase via Paypal in Nov 2020 using Bank of America credit card for a bag that I planned to give to my mom as a present. After I received it, I found out that the bag was fake so I immediately contacted Paypal to open a dispute. I also got the 3rd party to authenticate the bag and they got back to me that the bag was not authentic. I then waited for Paypal to investigate the case for more than two weeks, I decided to also file a case with Bank of America, the credit card I used for this transaction. While I was waiting for both companies, Paypal sent me an email to return the item back to the seller stating that I would receive a full refund. I immediately shipped the bag back to the seller. Five days later, I received the provisional credit from Bank of America. I contacted Paypal to let them know that I have received the credit. The agent told me that the case has been moved to Bank of America as I filed the case with the Bank. So I told Paypal to send all information to Bank of America including that I have already returned the item as Paypal told me to. Paypal said they will do so and no further action needed from my end. I thought everything was settled and I did not do anything further. My returned package arrived to the seller in Dec 2020. I did not contact any companies as I thought that it was settled. And Bank of America did not contact me at all during that time. In Jan 2021, I received a message from Bank of America and I found out that they closed the case and charged me back. I immediately called them to reopen the case. I then provided all information including all the evidences. Bank of America representatives that I talked to told me I provided more than enough information to get the refund back. They advised me to wait for claim evaluation team's response and no further information needed. I called them a few times every week while waiting and the staffs kept confirming that I sent them beyond sufficient information to justify my right. Now, I just got a letter stating that the case is closed again and asked me to pay for that charge. Bank of America did not update or contact me at all before they closed the case. In the letter that Bank of America sent me, it said that they did not receive the information I have already provided them before. At this point, I feel powerless and don't know what to do. Please kindly help if any of you have similar experiences or any suggestions. Highly appreciate all the advice as this amount of money mean a lot to me. It seems that Bank of America did not even take a look at the information and carelessly dismissed it. Thank you all so much! [link] [comments]  |
| Drowning in CC debt. Need some advice. Posted: 27 Feb 2021 04:39 PM PST My wife and I are nearing 10k in credit card debt atm. I make about 2k per month, rent is 925, I could get another job or a better paying job, but I'd lose medical for my family. Most of the debt is on her cards, we are in good standing but her score dropped anyway (720s to 600 flat). At this point, is it worth it to try calling the companies and settle for a lower amount? [link] [comments]  |
| Mortgage company sent me a no cost refi for a lower APR, whats their angle? Posted: 27 Feb 2021 12:30 PM PST My mortgage company has contacted me to inform me that I am eligible for a refinance at no cost to me aside from the government fees. I'm just curious what their possible financial motivation is for doing this since they are covering the costs and would be receiving overall less money from my payments. [link] [comments]  |
| 21 years old creating my Fidelity Roth IRA account. What do I invest in ? Posted: 27 Feb 2021 06:58 PM PST Hey everyone ! First post here!. I am 21 years old and just opened a Roth IRA. I know my fair share of stocks and investing but I am a bit lost on where I should invest in for the next 30-50 years. I funded it with $2k to begin with and plan to add $200 a month. I have done a bit of research and read that most people dump their money into VOO, VTI, or QQQ? How should I go about this and is there a book, article, or video anyone knows of that could help? PS, didn't want to include a whole lot of background info on myself but I currently own a house and am in no debt at all. Work full time and make roughly 35-40k a year and currently in school to keep moving forward! Appreciate any feedback! [link] [comments]  |
| Posted: 27 Feb 2021 07:46 PM PST Our friends use financial advisors, but my husband has been reading lots of books and articles about investing and finance and says he feels comfortable taking the lead until our nest egg has added up to a large amount. It concerns me because he isnt in the finance industry and may overlook something as this is the first time we are really saving. Both of us grew up middle class. No other loans except modest cars that are leased. He currently contributes 19.5k/yr to the 403b and his company contributes 14k/yr. the 403b is all vanguard mutual funds VTSAX, VTIAX, VBTLX 65:25:10, which are automatically taken from each paycheck. Has a pension plan through the university that he contributes to as well. He also plans to do a backdoor roth ira for each of us this year through vanguard and buy more or less the same mutual funds with it. We have an emergency fund with 6 months worth in it sitting in our savings account. $2.37m term life insurance 20 year (he just got this year), long term disability policy, We are planning to buy our first house this spring. Would a financial advisor add anything or point out anything that is forgotten? We have interviewed a couple, one that came highly recommended wanted 7500/yr plus .7%, which we both thought was very excessive. [link] [comments]  |
| Advice on what to do with $45,000 cash to minimize debts. Thanks. Posted: 27 Feb 2021 01:50 PM PST Divorce buyout, what to do with $45k that my ex is giving me in the refinance so she keeps the house. Divorcing and finalizing paperwork once she gets her refinance in order. We both agreed that she would refinance and buy me out and give me $45,000 for the equity. I'm taking a loss on it but I would rather have her keep the house for our pets and knowing she is still going to have a home. She's agreed to allow me to still use the home address until I decide to move into a place. I drive a semi, so I will not be living anywhere for a year or two. I can live in my company truck and get hotels for the weekend that I want out. I have a pickup that I keep at my company that is 6 hours away from my house. My debts as follows: Truck is $59,000 @ $900/mo Personal loan joint debt is $14,000 @ $548/mo Student debt is $13,000 @ $400/mo Credit card with zero percent is $2,500 @ $300/mo No house mortgage or rent. Verizon bill is $111/mo Insurance is $137/mo Spotify $10 SiriusXM $30 I net anywhere from $800-$1300 weekly. I'm getting $45,000 from our divorce agreement. What would my best course of action to get my debts paid with this money? I have read that there's a potential $10,000 student loan forgiveness and currently there's no payment due until end of this year. I would like to utilize the $45,000 the best way to get out of full debt so I can put money away to buy another place in a year or two. [link] [comments]  |
| Studying abroad, looking for a credit card with no foreign transaction fees Posted: 27 Feb 2021 06:09 PM PST Hello! I'll be studying in Toulouse, France for 4 months early next year and I've started some budget planning. Right now Im thinking of using one credit card for big purchases and save €1000 in cash for miscellaneous items. I also plan on bringing two of my debit cards. However, I don't want to use my TD Visa as my designated credit card as I'll be charged for spending internationally. Is there any credit card you guys would recommend given my situation? It would also be nice if the card had no annual fee. I'm also in Canada if that matters [link] [comments]  |
| I can finally pay my car off, should I do it? Posted: 27 Feb 2021 07:04 PM PST So COVID has kind of made our (me and SO) cars mostly useless, but I am assuming sooner or later we'll need them to get back to work and classes. Currently we have a 2018 prius C and a 2016 LEAF. The prius is great with cost and mileage, but the <84 miles you can get with the LEAF is where there might be an issue. If we weren't attending school and weren't working from home, our current cars would work great for our needs since both the college and my place of work are within 10 miles of our home. I do anticipate that once my SO graduates we may have to move and need larger miles for the LEAF. We've already payed off $6k (about $1k being interest) and have the savings/opportunity to completely pay the car off (~$10k left). These are the two options I can see at the moment.
Let me know your opinion or if you think of a completely alternative option that might work better! Thanks in advance! [link] [comments]  |
| Best strategy to handle my student loans? Posted: 27 Feb 2021 12:25 PM PST I will be graduating college in May and starting work at my new job in June. My salary is: $110k/yr + $40k cash starting bonus split over 2 years + $135k stock grant split over 4 years. My outstanding student debt will be: $20,516 in low interest federal loans. $20,702 in higher interest private loans. Unfortunately my job will be in a high COL city so my rent is going to be $1500/month + $400-$600/month for food. My current plan is: Take my $20k cash bonus that I'll get right away and just throw it all at my private loans. From there, I'll just put $500-$1000 toward my federal loans every month. I don't want to pay those off super fast just in case the $10k forgiveness actually happens. Does this seem like a reasonable plan? Or is there something I'm overlooking that would be smarter? Edit: Alternatively, I could just pay off all my federal loans once I get my first stock grant installment which should be around $33k. [link] [comments]  |
| How to Handle DTI With Joint Mortgage Posted: 27 Feb 2021 12:39 PM PST Situation: Joint mortgage where one party transfers half of the mortgage each month into the other party's bank account and the mortgage is auto debited from that account. Question: I assume the full mortgage payment is factored into each party's DTI, regardless of paying half each. However, is the party which receives half the mortgage into their bank account (from the other party's monthly payment) able to count that payment as monthly income for the sake of a DTI calculation? I understand the reasoning for the full mortgage factoring into individual DTIs. However, I'm wondering if in practice a lender would account for the reality of one party's actual payments being less than the full mortgage, particularly with a history of this "income" being transferred into their account. At the very least it would look fishy when evaluating bank statements that there are regular monthly transfers happening that aren't from the W2 job?? [link] [comments]  |
| Posted: 27 Feb 2021 11:02 AM PST Just wondering if I am going about this the right way. Should I only keep enough cash to cover my out of pocket max in my HSA and invest everything else? [link] [comments]  |
| Home mortgage question - where is the flaw in my logic? Posted: 27 Feb 2021 06:33 AM PST I owe $473,000 on a 15-year mortgage at 2.75%. The monthly payment is $3,335. About $2,300 of that goes toward principal and about $1,000 to interest. The home has appreciated in value and that should continue. If I sell the home I believe I could get $715,000 for it. The way I see it, every mortgage payment I make I am putting $2,300 in my own pocket. The appreciation in the home value is like the interest I am earning on this money. The remaining $1,000 goes to the bank. So in a way it's like I am paying $1,000 a month to rent a $715,000 house. I obviously have to pay for the upkeep, insurance and taxes, but let's set that aside. Is my logic here wrong? Seems like it is but I can't figure out why. [link] [comments]  |
| Posted: 27 Feb 2021 11:12 AM PST Hey. Just wanted to breakdown my budget and spending and see what I can improve on. I have 2 jobs and work a total of 70 hours a week. In total, I take home around $2700 a month. Here's the breakdown of my monthly spending: Rent: $1100 a month with a roommate Child care: $700 a month Groceries + food for me and my kid: $300 Transportation (insurance, gas, etc): $200 Utilities: $50 Phone: $70 Internet: $30 Credit card: $150 Roth IRA: $25 MISC: whatever I have left. This is usually spending on my kid. What can I do better? I've pretty much exhausted my options. I guess I can find a 3rd roommate who would want to live in the living room? I'm not sure whatsoever. [link] [comments]  |
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