Personal Finance Weekend Discussion and Victory Thread for the week of June 11, 2021 |
- Weekend Discussion and Victory Thread for the week of June 11, 2021
- Mortgage sold to different company that sucks!
- Someone made an order using my debit card and sent me the items
- I keep getting money in my cashapp.
- My Tax Preparer Never Filed My 2018 Taxes and is LYING TO ME!
- Borrowing money to keep the inherited family home
- How common is it to actually like your job? What does a “good job” look like?
- Looking for some career advice.
- When buying a house in a HCOL, does 3x salary for mortgage rule go out the window?
- Does this make sense for me as a teenager
- Can I get a 70k Mortgage?
- My ex girlfriends credit card offers keep following me move after move
- Will maintenance/insurance on a used BMW really be that much more than a Toyota?
- How Aggressively Should I Be Saving For A Down Payment On A Home?
- Buying a house and gf moving in, how should I "charge" her?
- Ok, so hear me out...
- Mother almost fell for phone scam. How can I prevent it?
- 3% APY Savings Account? (HMBradley vs One Finance)
- Two (or more) mega backdoors in the same year?
- I messed up bad with my last apartment, and I’m terrified I will be homeless.
- Need advice concerning how to balance commute vs. rent prices
- Overtime/PTO question
- Fidelity zero funds?
- Need Capital Gains Help
- First time brokerage funds "capital gains harvesting" issue.
| Weekend Discussion and Victory Thread for the week of June 11, 2021 Posted: 11 Jun 2021 02:00 PM PDT If you need help, please check the PF Wiki to see if your question might be answered there.This thread is for personal finance questions, discussions, and sharing your success stories:
A big thank you to the many PFers who take time to answer other people's questions! [link] [comments]  |
| Mortgage sold to different company that sucks! Posted: 11 Jun 2021 05:45 AM PDT Hi everyone, I am hoping someone can tell me if I have the ability to change my current mortgage lender. Back story, wife and I bought a home 4 years ago and recently refinanced to lock in a lower rate. After the refinance we had Wells Fargo and everything was fine. We could set up automatic payments, pay bi-weekly to help pay the mortgage off sooner all the good stuff. Well after a few months they sold our mortgage to another lender. It happens and I wouldn't normally care accept now we can't do anything that we could do before. Like make no-weekly payments. They actual sent a letter saying we know what your trying to do, but we don't allow that. We also can't set up an automatic payment for just the full balance every month. It has just turned into a pain in the ass to have to remember to pay the mortgage every month. So my question is can I request a different lender? Or am I stuck until someone it's out my loan from these twats? [link] [comments]  |
| Someone made an order using my debit card and sent me the items Posted: 11 Jun 2021 11:21 AM PDT I received a notification from my bank that I ordered something from Walmart. The description said it was used in a different state and the info was saved by a merchant. Didn't see that it was Walmart.com until after I called my bank to start a fraud claim. I checked my email and saw an order confirmation as well as several e-gift cards. The person made two orders of card-stock ($14 each) and $100 gift cards x2. They tried to order again but was denied due to my card limit. So I'm really confused as to why they did this. Why did they order gift cards, send it to my email and card stock addressed to my home? [link] [comments]  |
| I keep getting money in my cashapp. Posted: 11 Jun 2021 11:20 AM PDT I installed cashapp as one of the first people years ago.. consequently I was able to get a very easy cashapp name that's just my first name and last initial. I have a simple name 'think $JohnQ'. Every few days I get a cashapp sent to me by different people not a lot of money, sometimes it's $20, $40, $15 etc. I know of the cashapp scam where they send you money using stolen cards and try to request it back after it's deposited while the owner cancels the transaction, so far from all those transactions only about 2 have tried that. I typically don't interact with the transactions and just leave them alone. They are processing and depositing. I've reach d out to cashapp to see if there's anything they can do, but cashapp has horrible customer service and hasn't responded. Does anyone know what the scam is here? [link] [comments]  |
| My Tax Preparer Never Filed My 2018 Taxes and is LYING TO ME! Posted: 11 Jun 2021 06:48 PM PDT I just got off the phone and found out today my POS Tax preparer never filed my taxes When I asked him to send me a copy of the return he filed with the IRS, my signature and date is blank on that form. He is telling me "he is not sure why the IRS is saying he didn't file my taxes". He never asked me to sign or return any forms so it was impossible for him to file my taxes.! Now I am going to charged with a bunch of late filing penalties! Also he never put my covered California health coverage on my tax return for 2019 and he is saying that the reason I am being charged $262 in penalties is because the IRS charges me a "Covered California Fee". which I am pretty sure is BS. What should I do? Can I get a refund for his fee for submitting my taxes? Is he liable for the late filing penalties I am going to receive? [link] [comments]  |
| Borrowing money to keep the inherited family home Posted: 11 Jun 2021 09:26 AM PDT Hello, first time poster here. My sibling and I are in the process of splitting up our family estate, which belongs to a family trust. One of the assets in the trust is the family home, and my sibling wants to keep it and let me have an equal value of the rest of the estate. Because the combined value of the rest of the estate is less than the value of the home, our attorney has suggested that we get a loan in the name of the family trust, and use the money to equalize the value of the divided assets. The issue I am having with this plan is that the lender in question wants me to cosign the loan personally. I feel like this isn't a great idea to cosign a loan for the sake of holding onto a property that I won't have an interest in going forward. Also, I'm kind of debt averse in general. While I have attempted to explain this point of view on this issue, I feel like I'm not making my case against cosigning convincingly enough. What sorts of questions do I need to ask to gain clarity on what it is I am being asked to do, and what the potential risks are? The estate and property is in California, and the issue of maintaining the inherited tax basis, instead of reassessing the property at a current basis comes into play here, I think. [link] [comments]  |
| How common is it to actually like your job? What does a “good job” look like? Posted: 11 Jun 2021 12:30 AM PDT I'm young (21) and just started my career. I started building interest in the field (computery stuff) back in elementary school and pretty much stuck with it ever since. I started to lose interest midway through high school, but I stuck with it anyway since it was what everyone expected me to. I went to a really good CS university and now have a high paying job. The only thing is that I hate my job. Even when I went to college I kept thinking about switching majors literally every single quarter. I didn't ever switch because I knew so many people dream getting the opportunity to be in my major. Within a month of starting my job I began to hate it. I'm burnt out, getting really unproductive at work, and I feel like I need to do something about it or else I'll end up unemployed. I know a ton of people hate their job so it feels really unfair for me to complain. At least I'm getting paid well for my job. Not many people get that luxury. At this point I'm only staying because I need to help my parents out and because my SO is chronically ill and has expensive medical costs which I want to be able to support when if/when we get married. Many hate their jobs, but how do they do it? I'm trying really hard to push through and do it for the people I love and care about so much, but it's getting to feel impossible for me. What I always wanted to pursue was music. I know it's not a good career and not practical. But I can't even listen to music on my own anymore without feeling upset that I can't do that. The last time my girlfriend turned on the radio I just broke down crying. I know this sounds really dramatic, but I'm just trying to find a solution. People tell me to do software development work with music companies, but I've done that before and it wasn't any better. I just really hate this field and this job. I've hated it for years and hated it more than I ever loved it. How do you all do it? [link] [comments]  |
| Looking for some career advice. Posted: 11 Jun 2021 07:56 AM PDT I'm currently working in a kitchen and was approached with a job offer I don't think I can turn down. A little background: I'm pretty much a supervisor in everything but name and pay where I'm currently working. I was promised the promotion some time ago, but keep being told they can't afford it at the moment because of the Pandemic. I handle 90% of all the prep work done in a week, work the line in the morning and some afternoons, and pretty much run and manage the kitchen on most weekdays. Oh yeah, I also just discovered that some new hires with Zero experience have a starting pay that's higher than mine. Don't feel too great about that. Also, the commute is a bitch for me. Around a 3 hour round trip a day. I was recently approached by a friend who works in a warehouse. We used to work together, and approached his manager about me and now she wants to hire me. Better pay, better hours, benefits, plus a union. Also, according to my friend the job is easier, he also used to work in a kitchen and says the difference is night and day. A lot less stress. I'm pretty sure I know what I have to do, just writing this out has helped me process this a lot, but I guess I'm looking for some outside input before committing to anything. [link] [comments]  |
| When buying a house in a HCOL, does 3x salary for mortgage rule go out the window? Posted: 12 Jun 2021 02:51 AM PDT Just wondering how people do it. In my area, even a STARTER home can be upwards of $750k-$1mil not to mention with high taxes. Considering the 3x your salary rule when seeking a mortgage, does that mean that all these people purchasing these homes make more than $250,000 a year? Or is this rule more fluid in HCOL areas? [link] [comments]  |
| Does this make sense for me as a teenager Posted: 11 Jun 2021 10:31 PM PDT I am currently putting my money in my brother's account since I'm a teenager and can't open one right now. He isn't being the nicest and doesn't let me use the app to cash my checks myself and won't let me see how much money I have. I was thinking of getting a cashapp card. After cashing my checks, i would be transferring the money to cashapp as soon as the money is in so that i don't rely on him anymore (apart from cashing checks, but I'll have full access to my money and will know exactly how much money I have, what I have spent, and be more comfortable) Is that a good plan for right now? Are there fees in doing that? Is it legal for me to do that? Basically I'd use his account to cash checks and then transfer it to cashapp where I would have my card. [link] [comments]  |
| Posted: 11 Jun 2021 05:28 PM PDT Trying to get my first home, a condo, but keep getting told by lenders that 70k is too small of loan for them to make any money and they won't approve it. The condo I want is only 70k and I keep getting pushed to buy a home which I don't want. My credit score is average around 700. Does anyone know of a good lender? Or steps I should take? Thanks [link] [comments]  |
| My ex girlfriends credit card offers keep following me move after move Posted: 12 Jun 2021 03:31 AM PDT So I've move houses 5 or 6 times since and every move a credit card offer arrives in the mail with her name and my address printed on the offer. I think her name must be tied to my credit report or something but I don't know where or who to go to to split her name off of me. Anyone have an idea? [link] [comments]  |
| Will maintenance/insurance on a used BMW really be that much more than a Toyota? Posted: 11 Jun 2021 03:29 PM PDT I'm in the market for a used car and fell in love with this used BMW, for a great price. (Only a few years old.) Will the ancillary costs of car ownership really skyrocket if I head in this direction? Edit: ok all, you've made yourselves clear :) if I were to buy a higher end used car, what brand do you recommend? [link] [comments]  |
| How Aggressively Should I Be Saving For A Down Payment On A Home? Posted: 11 Jun 2021 09:34 PM PDT Hey guys, I am 19 turning 20 in a few months. At the moment, my monthly take-home pay is about $3000. I am trying to save about $1000 a month, and at the very least, $750. I will have my fully funded emergency fund around October or November with $5000. Not sure if I should add more to it or not. My income may go up substantially if I am successful in pursuing a career in sales with my family's business, but for now, I am playing with these numbers. I know I am pretty young to be thinking about things like getting a home, but it's important to me. How aggressively should I be saving money? Is it worth it to continue to save up all of this money just for a sizable down payment on a house? Also, should I wait until purchasing a home before starting to invest in my retirement? I am worried about lifestyle creep. For example, I would really like to purchase a Mazda Miata. I would spend about $4000-$5000 on the car, and maybe modify it a bit and put money into things like repairs. It would not be my daily driver, and I would keep the car that I currently have for daily use. My current car is worth maybe $5k, but I drive a lot so its value will plummet, I will drive it until I am forced to buy another vehicle. Is it dumb to spend that much money on a toy at my age? Or should I just enjoy my money and have fun? Or is there some kind of balance, and if so, what is that balance? At the soonest, I would purchase it sometime next year. I guess I am just conflicted. How conservative should my lifestyle be? Sorry if this a weird question. Any advice and criticism is welcomed! Thank you. [link] [comments]  |
| Buying a house and gf moving in, how should I "charge" her? Posted: 12 Jun 2021 12:05 AM PDT My gf and I have been living together for over +2 years and we decided to buy a house after some consideration. We paid rent according to our salaries and split expenses. Never had an issue in this case. We live in Tokyo but for simplicity's sake, I'll make 1$ = 100 JPY and use dollars: The apartment costs 480K$ with a 20% downpayment, 10% now, and the remaining 10% when we move in (End of 2022). My idea behind this is to stop paying rent ASAP and get a place to build up equity and pretty much live "for free" for at least 5-15Y. Japanese houses don't do too well in the second-hand market but the price I'm getting for the place is a bargain so I'm hoping to at least sell it for the same price. With the help of my parents I can make up most of the current 10% but we would need some of her cash. For the remaining 10%, I can cover this by saving until I have to pay this back (made the maths). FYI, Japan currently has a deduction where they give you back 1% of the remaining mortgage if it is your first residence (and never applied for this in the past). And since this is ending this year, I felt that it is the right moment given my personal and work circumstances are pretty stable, working in the tech industry in a well-established company, and already quite invested in the stock market. She is more OK-ish with the topic since her circumstances are not as stable as mine (she might change jobs in the mid-term), but we found a place that works perfectly for both of us, where we will be paying less than our current rent. I would be the sole proprietary mortgage-wise and I can afford the place by myself hands-down in case things go south. No worries about that. However, we (I) don't have much idea on how we should approach "her" part towards the equity: We thought maybe dividing in two (50% towards the equity vs 50% towards the rent). If things go south, I would buy her equity back. However, after reading a bit, maybe this approach is unrealistic and I should just stick to charge her rent, pay back the downpayment she "lent" me and keep the house 100% mine. And maybe once we get married and we are a bit more established we can think about getting someplace together a few years later. Any advice? Thanks! [link] [comments]  |
| Posted: 11 Jun 2021 11:59 PM PDT I'm in a pretty decent financial position, kinda. Currently I'm 23 with 13k in the 401k and 9k in the bank, but without an education and this is all I really have. I pay 500 a month in rent, 100 in gas and about 150 on food and toiletries. I make about 2200 a month at my retail job. So, what I am planning to do, is work alot of Uber on the side to cover my 750 in monthly expenses, plus the extra gas. Then, use my 2200 to completely invest and save. My idea is: 30% toward Index Funds 30% Straight into the high interest savings account 30% To a personal investor, tell him to go heavy with risk cause I'm young and can handle it. 10% into my 401k, which my employer will match. I know I'm insane, but I want to invest and I want to be able to save/invest my entire retail paycheck. What do you guys think? [link] [comments]  |
| Mother almost fell for phone scam. How can I prevent it? Posted: 11 Jun 2021 07:02 PM PDT My mom's mind has been slipping for a few years but we have delayed doing anything because she is defensive to the point of verbal altercation that she is fine. Well today she fell for a "your grandson is in jail" scam. Went to the bank pulled out $9k. The only reason it isn't gone is because she forgot how to wire the money and went to the police station instead and thankfully they called me. She is still adamant she is fine. We have paperwork for POA in place. My brother and I plan to take her keys and want to limit her access to her money but are expecting her to fight us on it. How do we go about doing this? Do we need to contact a lawyer? Her doctor? We are unsure how we need to move forward. [link] [comments]  |
| 3% APY Savings Account? (HMBradley vs One Finance) Posted: 11 Jun 2021 03:15 PM PDT I've recently come across 2 online banks that appear to be offering up to 3% APY, HMBradley and One Finance. With interest rates being extremely low for a while, I never really bothered to chase after high interest rate accounts, since it just seemed much more convenient to keep my savings and checking with my current credit union (only getting 0.5% APY though). Especially since I just keep about $6,000 as an emergency fund and most of my disposable income goes straight to index fund investments anyway (I just keep enough in my checking account for expenses). Has anyone here tried HMBradley or One Finance? Are they good (they appear to be fairly new)? Any recommendations on picking one over the other? [link] [comments]  |
| Two (or more) mega backdoors in the same year? Posted: 11 Jun 2021 11:04 PM PDT I'm switching jobs soon! My current job offered a mega backdoor and I've maxed it out. I read somewhere online (and now I can't find the source) that when I switch to my next company, I would be able to max that one too. Is that true? [link] [comments]  |
| I messed up bad with my last apartment, and I’m terrified I will be homeless. Posted: 11 Jun 2021 11:38 AM PDT Okay, so starting off, I know that I haven't made the smartest decisions in the past. Also, this is a long complicated post, so I apologize in advance. I was 18 and I wanted so badly to move out of my parents house and hometown that I started applying to apartments with my ex boyfriend about a year and a half ago. We got accepted with a co-signer (my dad) to a kinda shady place next to my college. So, we paid our rent on time every single month, and then I had to move out for personal reasons back into my mom's house after 6 months. According to the lease, I could not be taken off the lease without my ex boyfriend also being taken off, and he wanted to stay, so I just kept my name on the lease and moved out. I do know that he paid rent on time every single month after that until a month before the lease expired. The lease ended this last March, and he did drop off the last month's rent into the mail slot at the apartment, as we were told to do. Long story short, apparently the office was broken into and his rent was stolen, at least that is what they told us. I honestly believe that one of the managers stole the check and a police report was filed by my ex, but there is no proof of anything happening so the apartment just told us not to worry about that months rent. My ex did adopt a puppy during the time that I was not living there, and it did quite a bit of damage by ripping up some of the floors and chewing some of the paint off the walls. He paid a pet deposit and was paying an extra monthly fee for the puppy. So, that brings us to today. Nobody in the apartment has tried to contact either of us since MARCH regarding any damage fees and we have tried to contact them multiple times with no answer. He is active duty military and I live in a different town now. Today I asked him about it again and he went into the rental portal for the apartment and saw that we owe 3000 dollars as of I don't know when. Again, nobody has reached out to us about this. Looking at a breakdown of the costs on the website, 2500 is owed for damages, which I can believe, but it also says we owe 500 (which was our rent) for the month that the rent was supposedly stolen from the office. I am also stressed about late fees because the apartment has been empty for months now and nothing has been done, so they are losing money. We are prepared to pay the 2500 and fight to get the 500 taken off because we were already told not to worry about it by them. I'm very scared of being sued, but I'd think that they would try to get ahold of at least one of us? They inspected the apartment in April I believe. I'm just scared shitless that this has absolutely destroyed my life and chances at renting anything again. My credit score has not been hit at all by this. Since my ex is coming back from active duty next week, we are going to drive up to the apartment office and try to figure it out. I'm just very stressed about the future now and that I'll end up homeless. Any advice for this situation would be appreciated, thank you. [link] [comments]  |
| Need advice concerning how to balance commute vs. rent prices Posted: 11 Jun 2021 10:19 PM PDT Hi, I need some advice concerning how to choose an apartment. I just received a graduate degree and will be entering a job where I'll be making 50k a year (before tax.. rip). I'm already pretty much going into this job thinking that I'll only stay for a year and then try to find something closer to my hometown that pays more. I basically got scared into taking this job that's far away by thinking that I wouldn't get any other offers. I need some help deciding what apartment might be best for me... Apartment A: 2 minute commute. $1300 in rent every month + utilities. Downside to this one is that it's extremely in demand and I'm not sure if it's likely I'll get it. Apartment B: 35-45 minute commute. $700 a month + utilities. Sharing rent with 2 roommates. Have to share bathroom with a dude. This one is closer to a city where I have access to bigger stores. Apartment C: 29 minute commute. $1310 in rent every month. Seems to be a good chance I can get this one. Apartment D: 40 minute commute. $940 a month + utilities. Longer commute but I like the lower rent. Apartment E: 24 minute commute. $879 a month + utilities. Would have to use a laundry facility which I really don't like, but maybe that's worth the lower price point and commute time. Management seems a little weird. Apartment F: 30 minute commute. $500 a month + utilities. Shared bathroom with 2 roommates. Not sure if I can get this one as I turned them down initially as I didn't like them very much. They're only staying for a year... so if I end up liking my job I'd have to find 2 new roommates. All of these bigger rent prices terrify me because it's more than half of what I'll be making. My parents have said they'll help a little, but I want to try and save as much as I can considering I wiped out my savings and am essentially starting from 0 due to my degree. I think I'd be able to do a 30-40 minute commute... but at that point why not just do the 1 hour and 10 minute commute it would take to drive from my parents house to my job and save up all that rent money? Any help would be amazing. [link] [comments]  |
| Posted: 11 Jun 2021 02:51 PM PDT Let's say I'm sitting at 50 some hours at the end of a week, and I am asked to come in Saturday but I decline, can my employer force me to use PTO on a day outside of the work week [link] [comments]  |
| Posted: 11 Jun 2021 02:59 PM PDT Hi I'm new at investing and just opened up my Roth IRA I had some question on my allocations I was thing of doing 60% FZROX 20% on FZIPX, 20% FZILX I don't know if I should or not but was also thing of adding FNILX and dropping down FZROX I'm looking at 30 years from know. [link] [comments]  |
| Posted: 11 Jun 2021 11:39 PM PDT Ok, here's the situation: I bought 18 acres of land for 52k a few years ago from an Uncle and just paid cash. The land was surveyed in two plots; a 10 acre and an 8 acre. I sold the 8 acre plot for 45k this week. My question is, how will I need to address this when I file my taxes? Will it give me the option to split the land on a tax form or will it show me only gaining back 45k from the original 52k invested? And also, how might this change my tax return? Any info is appreciated. Thanks [link] [comments]  |
| First time brokerage funds "capital gains harvesting" issue. Posted: 12 Jun 2021 03:16 AM PDT I want to harvest long term capital gains from my Vanguard brokerage account. I get the following message just before I sell: This fund is subject to the frequent-trading policy and limits you from buying more shares until 07/14/2021. Is this common practice or just a Vanguard policy? [link] [comments]  |
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