Personal Finance Mom had a stroke, Dad and I don't know what to do. |
- Mom had a stroke, Dad and I don't know what to do.
- How do I get out of monthly payment trap and get my finances in order
- Got rear ended in girlfriends rental car
- I need advice from grownups on my financial situation.
- Scammers received over $400 in donations using my daughters terminal diagnosis
- Any reason to take USAA's 25k career starter loan for military officers?
- When the time comes, how does a "withdrawal rate" actually work?
- 27K+ Student Loans, 40K+ Savings, 22 Y/O, Computer Engineering Graduate seeking work
- Niece is EU bound and I'd like to hook her up with some cash
- Can't access former employee 401K
- To buy or lease a car?
- Tax advice on who to talk to about an inheritance from 25 years ago?
- Reading Dave Ramsey.. I have 6K left on my car, and I have 5K saved in the bank from unemployment, I start my new job on Monday. Should I pay off my car?
- Budget reality check for NYC move
- Recently graduated physician, need help with getting started financially!
- How can I become financially independent/stable?
- Should I drain my investment accounts to pay off my personal loan debt?
- Income based repayment, PSFL, and adding name to a deed during refinancing
- Should I be replacing my vehicle?
- Advice regarding rental income
- Estimated Taxes for Side Gig started after April 15th
- How do I make the most $ out of my job ?
- Is HSA plan the obvious choice for my options?
- Downside of moving brokerage assets to JP Morgan for a mortgage discount from Chase?
| Mom had a stroke, Dad and I don't know what to do. Posted: 05 Jun 2021 01:02 PM PDT Sorry if bad format, I'm on mobile and in the hospital with my mom. Also apologies for not being super organized, as I'm trying to explain and get as much out as possible. My Dad is 66 and my mom is 59. As far as I know, they have never had health insurance. I never even went to the dentist until I joined the military. My dad owns a real estate appraisal company that is in their house, and my mom is basically his secretary. She runs all of the errands, pays all the bills, basically everything but the actual appraisals. They are absolutely borderline hoarders and have no real structure with their filing system. They have dozens of three foot high stacks of files, and then they have like 15 filing cabinets that are bursting at the seems. My mom had a stroke Thursday night and has been in ICU since. She's not doing very well, and the doctor is talking about sending her two hours away for intense rehabilitation. I flew out here from halfway across the country because I'm military, and because of that I only have so much leave I can burn to help. My dad has no idea what to do. He hasn't cooked for himself in 30 years, and he doesn't even know how to work the washing machine. He doesn't know how to pay for any of these expenses, which he has been told this visit alone will be more than $100,000. He doesn't even know how to bay his utility bills anymore. Is there any sort of program that can help them? We don't know if my mom will get better any time soon, and I definitely can't afford to help or even be around very often. They live in New Mexico if that helps at all. I'm willing to answer any questions and am very grateful for any help. [link] [comments]  |
| How do I get out of monthly payment trap and get my finances in order Posted: 05 Jun 2021 10:00 AM PDT I'm almost 30 and don't have much in my savings account. I have just recently learned that I need to start saving. My problem is that I have made multiple bigger purchases (of which some are items I didn't absolutely need) over the years using the "small monthly payment of X for 24 or 36 months" method and now I'm in a situation where most of my money after rent and food goes towards the monthly payments and nothing is left for savings. I know that I can only blame myself for getting into this. Money has always been a huge taboo in my family so I never got guidance on personal finance or money in general. I can't talk about this situation with my parents or other family members so I'm reaching out to you guys. How do I get out of this situation? How do I stop buying stuff that I can't afford in a single payment? I would love some help on getting out of this. Any tips are welcome. Edit: Re-formatting my question since it could be interpreted in a way that I would blame my parents for my situation - which I really am NOT doing, I'm 100% responsible for getting myself into debt. Also thank you so much for all the people who have given good and encouraging suggestions! I now have some actions to take. [link] [comments]  |
| Got rear ended in girlfriends rental car Posted: 05 Jun 2021 12:06 PM PDT So my girlfriend is out of town for the weekend and dropped her car off to get repaired. She has a rental car for the week provided to her by her insurance company. I don't have a car currently, so I took the rental car to go and get groceries. I got rear ended at a red light on the way to the grocery store and the other driver is definitely at fault. I got his drivers license information insurance card. What should my next steps be? I wasn't on the rental agreement so I don't think I'm covered by her insurance. Will the rental agency still cover the damages? I just don't want to make the wrong next step Update: My girlfriend contacted her insurance company and the agent sounded fairly confident we wouldn't have to pay for any of this. Her insurance is going to contact me and my auto insurance company on Monday to work things out. Thank you everyone for all the advice, I honestly would have been so lost without it. [link] [comments]  |
| I need advice from grownups on my financial situation. Posted: 05 Jun 2021 03:02 PM PDT Hello ladies and gentlemen. Im 15 years old and I am currently reading the complete guide to money. I got a job doing landscaping for ten dollars an hour. I work Fridays and weekends for about four hours. This weekend Im going to get my first debit account and card. I have twenty-seven dollars in cash. Im trying to budget to buy 130 dollar headphones. How much should I have saved up in addition to the 130 dollars. Ive been getting better at saving and spending my money. My income is obviously extremely wishy-washy. However it does seem to be looking good long term. For a career I'm interested in law. I need to figure out how to pay for undergraduate college as well as law school. Ive asked my parents and they say I'm gonna need to get into debt. That's obviously the last thing I want to do. Where do I go from here ? How much do I need to save before I buy the headphones? How should I pay for college? Thanks guys. [link] [comments]  |
| Scammers received over $400 in donations using my daughters terminal diagnosis Posted: 05 Jun 2021 06:48 PM PDT I'm not sure if this is the right place to post this but I really need advice. I tried posting in other subs but I couldn't post any information. A few days ago I posted a conversation that my partner and I had with our daughter regarding her diagnosis and how there is nothing we can do for her and that she would be going to heaven before us. I wrote it to get some of the grief off my chest. I briefly thought about a gfm but because I'm not on facebook and I don't have many friends/family I didn't think anyone would donate to a stranger. My posts got a lot of attention and I was flooded with well wishes, prayers, and personal stories. I started getting messages referencing seeing my story on instagram. At first I thought they meant reddit and just got them confused because I didn't share on instagram. I then got a few messages saying different varieties of "hey I donated via instagram but wanted to message you to say how sorry I am that this is happening". I decided to make an instagram and look for myself and I found my story on an account that had over 10K likes and comments. The comments were addressing the poster like they were me (dad/mom who posted) and I know for a fact that over $400 was donated towards the bucket list for my daughter. I made the mistake of saying how covid drained us and this unexpected diagnosis has really ruined us in more ways than just emotionally. Except it didn't go to us. Someone saw my post, possibly when it was "trending" on reddit and moved it to another social media platform-instagram. I messaged the account and got a response that they weren't getting donations and then blocked me. I have the screenshots and proof that money was sent. I have encouraged the people who donated to report the person. I know at the end of the day the people who donated did it on their own and it's not my responsibility but I feel so sick over it. I feel guilty for sharing my grief. These people donated for snow cones, golf cart rides, meeting llamas for my daughter, funds so we can take work off to spend as much time with her as possible. It would have been the biggest blessing. Who knows what the scammers are buying. I'm angry. It was never my daughter's money but they used her to receive money. Is there anything I can do? I'm posting on reddit because this is where the scammer stole the post from. [link] [comments]  |
| Any reason to take USAA's 25k career starter loan for military officers? Posted: 05 Jun 2021 08:14 AM PDT Hello, as a part of ROTC (military program to make officers) I am eligible for a 25k loan for 2.99%. I have about 50k in debt in student loans at about a 5% interest rate. If I took the USAA loan out to pay my federal student loans, I would save thousands. The only catch is that USAA specifically states their loan cannot be used for student loan reconsolidation. I am aware that a lot of cadets and LTs do exactly that anyway since USAA doesn't check, but I don't want to risk my future career doing something risky like that. Therefore, is there any reason I should take this loan out? All of my purchases (rent, buying a used car, textbooks, etc in college) were paid for using my student loan money, so the only way I could pay off those purchases would be paying off my student loan debt - which I cant per USAA's loan guidelines. [link] [comments]  |
| When the time comes, how does a "withdrawal rate" actually work? Posted: 05 Jun 2021 04:14 PM PDT Does it mean take 4% of your money out of your portfolio and plop it into your checking account at the end of every year? If it's 4% of your net worth divided into a bunch of different assets, where do you take the money from exactly and/or how do you turn the percentage into a chunk of allocated living expense money? Just curious about the brass tacks of things. [link] [comments]  |
| 27K+ Student Loans, 40K+ Savings, 22 Y/O, Computer Engineering Graduate seeking work Posted: 05 Jun 2021 11:51 AM PDT Hi everyone, To preface, I just graduated with my Bachelor's of Science in Computer Engineering along with a Mathematics Minor. I'm very cautious when spending money and fortunate in the aspect that my parents have been very helpful throughout my college career. This led to me saving $40,000+ over the past few years. Now that college is over, I've started my job search. Things are a bit grim due to Covid but with the atmosphere changing with the vaccine, things are bound to get better. I've started to question what exactly I should do with my student loans. So far, I've considered two options:
Since I already have a good credit score, 750+, I've been leaning towards option 1. However, I'd be open to other options if anyone has them. TL/DR: 27K+ Student Loans, 40K+ Savings, Should I pay my loans off now or pay them off over time? Looking for the best option or other options I haven't considered. [link] [comments]  |
| Niece is EU bound and I'd like to hook her up with some cash Posted: 05 Jun 2021 07:31 AM PDT Hey All! I recently found out my niece (an American) is has been accepted to university in the Republic of Ireland! Were all just really over the moon for her. I would like to give her some cash for the journey. What would be the best way to avoid getting gouged by fees/exchange rates/etc? Cash app? Preloaded debit card? Direct deposit? A big ol' wad of Euros? Thank you all! [link] [comments]  |
| Can't access former employee 401K Posted: 05 Jun 2021 07:21 AM PDT I was furloughed from my job back in April 2020 and eventually let go in January of 2021. They stopped the 401k match back in April 2020 but I kept all of my funds in there just because. I just recently started a new job and am looking to roll over my 401k ($30k) into my new employee sponsored plan. I try to log into wells fargo and I am unable to access anything. I had my username set up with my personal email address but it's not showing up. I go to enter my SSN and DOB and I'm not showing up in the system. I had my 401k connected to my Mint account and I go into Mint and see on Nov 3rd all of the funds were "Transferred from Plan". It does not say where they were transferred too.... Nov 3rd is when my former employer stopped paying my health insurance but I don't recall anything being done with my 401K and I never went in to transfer anything. No notifications in my email about any kind of transfers from wells fargo or Mint. I'm freaking out a little bit here and I can't contact anyone from Wells Fargo until Monday. And the fact that mint is showing everything was transferred is really concerning. Any advice? EDIT: Thank you for all the responses. I do remember getting something in the mail in the fall from them saying they were switching plans. Didn't care to do much about it at the time as I thought I'll get it taken care of when I'm back at the company.... which never happened. Reaching out to former employer today. Thanks! [link] [comments]  |
| Posted: 05 Jun 2021 06:27 PM PDT What do you guys figure is the best way to go? I've heard some financial gurus go the route of leasing and continuing that instead of buying; I was curious about what you guys think. [link] [comments]  |
| Tax advice on who to talk to about an inheritance from 25 years ago? Posted: 05 Jun 2021 06:54 PM PDT Basically, I inherited a 401k from my grandmother as an 8 year old child. I then moved the 401k to an IRA at a bank when I turned 18. Few years later I moved that IRA to vanguard. I'm now in my 30's and have let it sit as an rollover IRA because I've been intimidated by taxes and the whole situation in general. I spoke to vanguard about investing my IRA in mutual funds and other stuff and they're telling me I need to talk to a tax advisor because they're telling me it should have been an inherited IRA and not a rollover IRA and I was possibly supposed to take withdrawals years ago. I talked to someone at h&r block about this situation a couple of years ago and they said I'm fine. The financial advisor at vanguard wants me to get another opinion. Do I just need to talk to the IRS directly about my situation in order to get the right answer? [link] [comments]  |
| Posted: 05 Jun 2021 05:09 PM PDT I'm 26 and I'm nowhere where i wanna be but I figured I can pay down some debt. I was laid off fir a whole year and lived at home so I was able to save a ton of money, but I also kept up with my car payments and tried to pay down my student loan. Yes I know I'm very lucky to have a parent who supports me living at home and doesn't care if I pay rent or not. But she does want me to eventually find a better paying job. I want that for myself as well. Moving on. Now I have about 6K left on my used Toyota and I have savings of 5200. I was thinking I can just use it to pay off my Toyota and I can save even more money because I live at home rent free and I can save, pay off my student loan faster and credit card (credit card is only 600) Does this sound like a bad idea? Of course I would start over by saving a good chunk of my paycheck but Atleast I'd pay off my car way sooner. [link] [comments]  |
| Budget reality check for NYC move Posted: 05 Jun 2021 06:42 AM PDT Hi all, I was lucky enough to receive a job offer for a fully remote and I've been considering whether to work from Seattle or NYC. I've done my research on NYC and made some back-of-the-envelope calculations for a rough budget. A little bit more about me: Single, male, mid-20s, no debt and have a net worth of ~90k. With that said, I would like to get a second opinion if the budget I drafted out makes sense or if I'm completely off the mark about something. Offer Details: 135k base salary 35k stock/year (vests with a 1 year cliff, so I don't get this until I've been in the company for a year) 13.5k bonus/year Total Compensation: ~183.5k Budget: After tax and health insurance, my take-home salary comes out to about 89,000 Maxing my retirement accounts for the year (401k, Roth IRA, and HSA) will then leave me with 89,000 - 19,500 - 6000 - 3500 = $60,000 With $60,000 to work with, that gives me a monthly budget of $5000. Rent: $2500(Studio, Murray Hill/Kip's Bay area) Bills/subscriptions: $300 Transportation/Unlimited MetroCard: $127 Groceries: $400 Eating out: $500 Shopping/Museums/Shows: $500 Savings: $673 After 1 year, I should receive the yearly company bonus and the stock units granted by my company should vest, giving me a bit more wiggle room. [link] [comments]  |
| Recently graduated physician, need help with getting started financially! Posted: 05 Jun 2021 06:14 PM PDT Just graduated last week. I'm now entering residency for the next three years making about 52k per year. Currently have around $403,000 in student loans, 10k in credit card debt between me and my wife (ended up unexpectedly having to pay for our wedding). My wife is job hunting and will likely get a job making ~40k per year. We rent for 1000/month, car payment of 250 a month. We are planning on saving 15% of each pay check, putting 15% to paying off our credit cards, 60% to rent/bills/necessities, 10% to fun on the little time off I have. Student loans are still deferred but will be income driven when they kick in so not sure how much they will be yet. Any advice on how to start saving more effectively/investments would be helpful! [link] [comments]  |
| How can I become financially independent/stable? Posted: 05 Jun 2021 05:43 PM PDT I'm 17 and my dad recently cut me off financially. While I look for a job, I want to learn how to save up my money, make good choices with how I spend my money, and possibly make extra money on the side. Also, what do you wish you knew when you first became financially independent? Any tips or tricks? Thank you! [link] [comments]  |
| Should I drain my investment accounts to pay off my personal loan debt? Posted: 05 Jun 2021 07:09 PM PDT So, I have 8k in an investment portfolio that I grew from 4k at the start of Covid. To be clear, I know these gains came from an unprecedented time in the market, seriously everything skyrocketed after COVID tanked the market so I am not fooled by that 100% rise. I don't think I could turn 8k into 16k. In fact, lately I've been down a decent amount. I have about 10k left in a personal loan that I've been laying off for two years. I put $550 a month towards it and it's at about a 9% interest rate. While I don't think I can get 9% back on my investments, I also think of it as "cushion" money and like having it in the event that I need cash in a bind. I make 96k/year and have fixed costs of ~400/month financing my car and ~800/month on rent and then that $550/month on my loan. I have other expenses like car insurance etc…. My gross income a month is roughly 8k. My net income a month is $4,900. So, it's looking like: 4,900 (800) rent (550) loan payment (433) car payment (156) car insurance (200) utilities + storage unit i rent equals 2761 after fixed costs. (200) groceries (80) gas 2481. damn wtf am i spending my money on?? [link] [comments]  |
| Income based repayment, PSFL, and adding name to a deed during refinancing Posted: 05 Jun 2021 02:28 PM PDT Hey everyone, Before my wife and I got married, I bought a house and she was about 3 years into the program for public student loan forgiveness and income based repayment. So now she has about 4 years left. We are trying to refinance, and before I try to track down a CPA that may or may not have experience in this I wondered if anyone here shared similar circumstances. Basically, the first question is whether adding her to the deed, which is required by my state, will affect her income based repayment monthly cost. Her income is not changing. We file taxes separately. She purposely took her current job over a higher paying one as this is a non profit and makes her eligible for the PSLF program. The other question is whether we will be required to file taxes jointly if her name is on the deed, but not on the loan itself. Thanks for any and all advice, in advance [link] [comments]  |
| Should I be replacing my vehicle? Posted: 05 Jun 2021 09:25 AM PDT I drive a 2006 Toyota Matrix with almost 300,000 km on it. I know it will last me but I don't feel good taking it out of province. I have a chance to buy a 2011 Ford Escape will 100,000km on it, just had $5,000 worth of work done in December. The new car is $7,500 I currently have $16,000 invested and $17,000 saved. If I were to buy this is would cut my emergency fund from 9 months to roughly 5 months. Is this a wise decision? Edit: Typo [link] [comments]  |
| Advice regarding rental income Posted: 05 Jun 2021 05:10 PM PDT Hello all, I'd like some advice on how to handle rental income. I own a house and also rent rooms in this house. I have used most of the rent to pay for much-needed repairs to things in the house (e.g. water heater, new doors, new windows, etc.), some of which were very expensive. I think some of the expenses were technically not tax deductible since I live at the property, though if it was solely a rental unit, they would be deductible (mainly kitchen stuff). I haven't reported it in the past, but I do want to convert this house to a full rental property at some point and move into a new house by myself. I'm thinking I should just start reporting the rental income. I'm worried about getting in trouble for it. I did tell my accountant, though he basically said don't worry about reporting it until I move out of the house. I have known a number of people who rent a room in their house and don't report the income. I guess I'm just worried about it and want to know how to best handle it. Thanks in advance! EDIT: If I take into account how much I paid for the mortgage, taxes, and insurance, I definitely have not made any profit. [link] [comments]  |
| Estimated Taxes for Side Gig started after April 15th Posted: 05 Jun 2021 06:36 PM PDT I recently started contracting on the side in addition to my w2 job. My start date for the contract job is after the April 15th first quarterly payment date that I understand I would normally pay to state / federal. In this case, should I divide my estimated yearly tax by 3 instead of 4 and pay them by June 15th, September 15th, and January 15th? Or am I supposed to pay half by June 15th and then 25% each September 15th and January 15th? [link] [comments]  |
| How do I make the most $ out of my job ? Posted: 05 Jun 2021 03:48 PM PDT I work for a small local company. I use my personal vehicle . I got 80,000 miles off of it for work. I get paid 200$ everyday I go to work. My mileage is paid for at .50 cent per mile. I get 7 paid time off. Some holiday pay. I work in the trade business. Carpenter and hvac. I have not got a raise in a year and a half. I asked for more pay and he delivered but it will be 6 months later. And he is fine to invest in a older used car to work out of. I kind of agreed. Yet I am dissatisfied. How do I proceed? Do I look for a better job? Or do I stick it out and show effort to build with this company ? [link] [comments]  |
| Is HSA plan the obvious choice for my options? Posted: 05 Jun 2021 01:54 PM PDT My Company offers HSA(Health Savings Account) and regular insurance (family plan) with same out of pocket maximum of 6000$. Deductibles are 3000$ vs 1000$ respectively. For some lab work, Copay is 20% vs 50$ with everything else being same. Monthly Premiums are 100$ vs 200$. So, even if you assume I spend OOP max, I pay maximum 3600$ for HSA and at least 1000$ for regular. After accounting for company addition (500$), tax savings (30% of 7500$ i.e., 2400$) and annual premium savings (1000$), HSA still saves me more than 1000$. So, In my case, maxing out HSA seems to be the obvious choice even if I have chronic medical issues, isn't it? Is there any scenario where I spend more or save less money with HSA? Thanks. [link] [comments]  |
| Downside of moving brokerage assets to JP Morgan for a mortgage discount from Chase? Posted: 05 Jun 2021 06:26 AM PDT I'm in the process of shopping for a mortgage for the first time, and the best sets of rates offered to me have been from Chase - but only on the condition that I move brokerage assets to JP Morgan (which owns Chase). The discount varies by the amount of money I would transfer, but I think the discount I'd be looking at is 0.25% off the interest rate in exchange for sending 75% of the loan's balance to JP Morgan. My plan would be to just move my VOO money at Vanguard to JP Morgan's low expense diversified US equity equivalent that has a 0.02% expense ratio. I have no foreseeable immediate need for this cash. It is my long-term savings. Has anyone done this? Is there any real downside here? JP Morgan's other ETF products look like they have awful expense ratios, but their vanilla US equity ETF is as cheap as Vanguard or Fidelity. Also not sure this matters, but the mortgage would be a primary residence and jumbo/non-conforming. Not sure if I want to go with a 30 year fixed or 7/1 ARM. Unclear how long I'd be staying there but hopefully at least a few years. Thanks for any advice! [link] [comments]  |
| You are subscribed to email updates from Personal Finance. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment