Personal Finance Quitting before work officially starts |
- Quitting before work officially starts
- Can I still profit from this inheritance situation?
- Should I leave wells Fargo for a credit union?
- Should I continue with therapy if it costs $135 per session?
- Can you pay property taxes if you don’t own the property?
- Just claimed homestead, been living here for almost 2 years now.
- 529 vs Roth IRA vs brokerage for college savings
- Advice Regarding Inheritance
- Father passed, Next steps? Can we still live at home?
- What is considered a normal amount of money to spend on non-essentials each month?
- What’s the mileage/age sweet spot for a used car?
- All eggs in one basket with a single checking account?
- When to sell off a bunch of old tech stock?
- If after 7 years my debt gets removed from my credit report, will by credit score go up?
- New Michigan Teacher. Pension or 401k/457?
- Is pet insurance for my cat (kitten) worth it?
- Switch from target date fund to stock ETF without bonds in Roth IRA?
- Investing a lump sum immediately or over time?
- Using Carvana and Financing a Car for the First Time
- Question about 401k
- Parents pulling college funding at last minute -- need advice
- Locking your SSN to prevent identity theft?
- I have a federal student loan in default. Will paying it in full now have a different effect on my credit score than entering into a loan rehabilitation agreement?
- Paying off Debt via Stockmarket Investments.
| Quitting before work officially starts Posted: 29 Aug 2021 05:59 AM PDT My mother just quit a job shortly after training and doing some admin work for a small company(she quit because the owner made a mistake and wanted my mom to take the complete blame for it including writing a 2-page apology letter!) Per the owner, both training and the admin work time are paid/billable. The owner hasn't paid her or made any mention of paying her for the brief hours that she worked there. Should she reach out to them and ask for the pay? [link] [comments]  | ||||||||||||
| Can I still profit from this inheritance situation? Posted: 29 Aug 2021 05:40 AM PDT This is sort of a combined business and inheritance conundrum, and any help would be so appreciated. I am the youngest of four siblings. My parents, now deceased, owned a high-value lot in City X. Sibling 1 and 2 still live in City X. Sibling 3 has moved to a different country. I live in City Y, which is about 10 hours away from City X. So far, Sibling 1 has temporarily converted the lot into a space for their small business (which everyone was fine with). We are now discussing how all siblings might profit from this lot. Sibling 1 and 2 are proposing that we put up a commercial building where everyone can house their business of choice. However, this feels impractical for Sibling 3 and me, since we no longer have any presence in City X. Might anyone here be able to suggest something outside of selling/leasing out the lot? Some kind of profit-sharing scheme maybe? I don't know if this is wishful thinking, but I really want to settle this amicably. I don't desperately need the money, and I doubt I can get "my fair share", but it would be nice to have a small revenue stream from this. [link] [comments]  | ||||||||||||
| Should I leave wells Fargo for a credit union? Posted: 29 Aug 2021 07:32 AM PDT I'm 17 and have been think about switching my checkings and savings accounts to fairwinds. Mainly because of just random things I've heard throughout the year of how unsafe wells Fargo is to bank with. I don't really follow the stuff all that much, I just look at it when I get paid and to make sure I'm not spending to much. I don't know much about banking but I've heard that a credit union might be a safer bet. Sorry there isn't much structure but any advice is appreciated. [link] [comments]  | ||||||||||||
| Should I continue with therapy if it costs $135 per session? Posted: 29 Aug 2021 12:28 PM PDT I (24f) was naive and didn't understand how my insurance works. Did an intake session, and turns out I have to pay full price (about $135 per session) until I meet my deductible, which is $2,800, so that'll never happen. I can technically afford this, but it's a giant expense for me that I did not at all budget for or factor in to my savings plans for the year. I make about 57k before taxes. I currently have no debt. Went into therapy hoping to deal with stress management, anxiety, procrastination, and career direction. Nothing particularly major. I think I just need to accept that I can't afford this, but it took forever to find a therapist that seemed right for me, took my insurance, and was taking new clients. I have an HSA. I was planning on doing bi-weekly sessions for a few months. Should I redo my budget so I can continue with this therapist or seek out other options? [link] [comments]  | ||||||||||||
| Can you pay property taxes if you don’t own the property? Posted: 29 Aug 2021 06:32 AM PDT NY, Long Island. I can't find information online. If the house isn't in your name but you've the family member/household member, can I pay the property taxes due on it? [link] [comments]  | ||||||||||||
| Just claimed homestead, been living here for almost 2 years now. Posted: 29 Aug 2021 12:40 PM PDT I thought I claimed homestead when I purchased, but I guess it doesn't do that when you buy a house. Anyway, I just filed for homestead in my state (Florida) and I have a few questions. My wife and I both live in our house. I understand I get 50k of exemptions (for myself due to homestead), Does my wife also get 50k to put our exemption total at 100k? Or does only 1 of us count? Do I need to file for homestead EVERY year? Or is this just a 1 time thing? Does anyone have an ELI5 for ad valorem total/non-ad valorem total? Any other tips and guidance is appreciated! Thanks guys [link] [comments]  | ||||||||||||
| 529 vs Roth IRA vs brokerage for college savings Posted: 29 Aug 2021 06:33 PM PDT We are in our mid 30s expecting our first child and looking to start saving for kid's college. Both of us work and we each have our own 401Ks that we have been maxing out for past 6 years and will continue to do so and we get employer match. we live in a state with no state deduction for 529. I am a little hesitant about locking money in 529. We just started backdoor Roth IRA this year and hope to withdraw only our contributions and supplement remaining from brokerage account when it is time for college. Has anyone in my situation( 529 hesitation, no state deduction, will have have 401k sufficiently funded at retirement, have investments currently in brokerage) considered other options ? 529 Pros:
Cons :
Roth IRA Pros:
Cons :
Taxable brokerage account Pros :
Cons :
I am leaving out financial aid related implications of 529 vs Roth IRA. [link] [comments]  | ||||||||||||
| Posted: 29 Aug 2021 04:40 PM PDT I'm about to receive $100k from my grandmother, as she recently passed. I plan to pay off some debt, and will have around $80k after that. I'm not very savvy with investment procedures and have no idea what I can do with it. I'd love to put it in an account where I can sit on it and gain some interest but have low risk. Any suggestions are helpful - I'm truly at a loss with this one! [link] [comments]  | ||||||||||||
| Father passed, Next steps? Can we still live at home? Posted: 29 Aug 2021 06:40 PM PDT Hi All. My father passed away this week unexpectedly. I am 23 and was still living under his roof, along with my mother - his wife. My father died without a will, and the house was in only his name. To my understanding there are lien(s)? on the house, amongst other possible debt that I don't know about. I don't know the contents of my fathers bank accounts but I am expecting there to be virtually $0. Whatever is there, if anything would not be nearly enough to cover any debts that my father's estate has. Neither my mother or I have the savings to pay his debts. Now lies the question. are there any options available that the house can be signed over to my mother so we can continue to live at the same home? We would take over the monthly mortgage payments, utilities etc. Basically, I don't know my next steps. I hope to continue to live where I am now, just with helping pay the bills. I just don't know if it can be that easy. Thank you Edit: We live in NYC. [link] [comments]  | ||||||||||||
| What is considered a normal amount of money to spend on non-essentials each month? Posted: 29 Aug 2021 04:02 PM PDT 26, graduated college 1 year ago. I'm back at my parents house until I can afford to move out. That's my main motivation for trying to save as much money as I can rn. I recently downloaded the Mint app and created a budgeting plan for myself. I hadn't realized how bad my shopping habit truly was until now. Last month, I spent $864 on things I could've lived without. I went on a small trip this month for my birthday, so I'm sure it's higher than normal. But I'm still definitely living above my means. Does $300 a month for shopping sound reasonable? [link] [comments]  | ||||||||||||
| What’s the mileage/age sweet spot for a used car? Posted: 29 Aug 2021 04:13 PM PDT Too many miles and too old, it doesn't have much useful life yet, isn't reliable, and repairs add up quickly. Too new, it gets awfully expensive and you're paying for a lot of depreciation. So where do you think the best value sweet spot is in terms of mileage, age and price? [link] [comments]  | ||||||||||||
| All eggs in one basket with a single checking account? Posted: 29 Aug 2021 10:44 AM PDT Spouse and I are merging finances. It'd be nice to have all direct deposits go into one account (apart from retirement contributions) and then distribute from there. We only pay with CCs then pay those off from that single checking account. E fund is also here. Long term savings go into retirement or brokerage. Is there a danger with this set up? We don't carry debit cards but I guess most eggs are in a single basket. [link] [comments]  | ||||||||||||
| When to sell off a bunch of old tech stock? Posted: 29 Aug 2021 06:43 PM PDT I have some RSUs that vested back in 2014 or so. At that point it was a relatively small sum, around 20k. I never bothered selling, and the stock has had a meteoric rise, which brings the present day value up to a few hundred thousand. For some background - I am pretty far from retirement (~30 years old) and above the 20% long term capital gains tax bracket. I have no outstanding debt, other than 700k on a mortgage with a low rate (2.25%). I max all of the tax advantaged accounts I can and save the majority of my income. I kind of want to sell these shares and drop them in an index fund, but I don't want to take that tax hit. Should I sell now, wait until my income is lower to reduce my tax burden, or just let it keep riding? I'm having trouble conceptualizing my best course of action. Thanks for any help! [link] [comments]  | ||||||||||||
| If after 7 years my debt gets removed from my credit report, will by credit score go up? Posted: 29 Aug 2021 06:14 PM PDT I dicked around a lot in my early 20s and have multiple loans that went to collections. They're set to be removed from my report next year. Will I see an increase in my credit score once they are removed? They are the only debt that's been holding my score back. [link] [comments]  | ||||||||||||
| New Michigan Teacher. Pension or 401k/457? Posted: 29 Aug 2021 03:56 PM PDT Man, I've lurked around this sub for years but I guess it's my turn to ask for some help lol. I've just been hired as a new teacher in the state of Michigan. I'm 24 and my gross income is $43,500. Michigan offers two options for retirement for me, a Pension Plus 2 Plan, and a Direct Contribution Plan. https://voyamarketingzone.dmplocal.com/dsc/collateral/penplus2_retirement_plan_election_guide_web.pdf I guess I really dont know what to look for in either of these plans, but the link above is a description of both. I can also provide any other information to help inform. I guess I just really dont know which would be better? I plan on being in the teaching profession for my entire career, starting now as a teacher, but I'm not against moving up into administration. I'm also not sure if I will stay in Michigan, but I've pretty much landed in a dream job/administration, and I consider myself lucky. Any help, comments, or critiques are absolutely welcome. [link] [comments]  | ||||||||||||
| Is pet insurance for my cat (kitten) worth it? Posted: 29 Aug 2021 05:44 PM PDT Background:Connecticut, USA here, looking for advice on whether I should get pet insurance. I have a 5 mo/o kitten and other than some basic veterinary visits and vaccinations before 12 weeks, he has not been to the vet. He appears healthy, but I hope to get him neutered and have a full check-up before then. I have contacted ~9 vets near me of which 7 were not taking new customers and the following was the lower quoted cost. Vet Cost Quote:I contacted a local animal hospital and was quoted the following costs:
Total: $428.90 I have never had a cat of my own (only family cats) but it seems this is a reasonable list of items I should do for the cat, who is allowed outdoors and eats god knows what vermin. I was also quoted ~$200 for a neuter and $50 for a microchip. For the purposes of this math, I'm treating that $250 as moot as to whether insurance is "worth it" to me; it's not covered by the policies I quoted. Pet Insurance Quote:I am a grad student so I am currently lower income, but hope to earn a higher income after graduation (it's law school, so I hope the salary will be decent). In the meantime, I looked into a quote for pet insurance, both from Geico (who I have auto with) and Lemonade (who I have renter's with). The Lemonade package was quoted as follows: My napkin math / logic:
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| Switch from target date fund to stock ETF without bonds in Roth IRA? Posted: 29 Aug 2021 07:16 PM PDT I keep reading about how bond yields are terrible right now and I've heard a number of people recommend forgoing them altogether if you're far away from retirement. I'm in my 30s and was considering moving from a fidelity target date fund to some combination of US and international market ETFs, at least for the time being (maybe change to 3-fund portfolio later on). I'd love to hear the prevailing wisdom of this subreddit on the topic. [link] [comments]  | ||||||||||||
| Investing a lump sum immediately or over time? Posted: 29 Aug 2021 07:04 AM PDT I just finished my MBA in May, and while I was in school I had turned off the automatic withdrawals into my Fidelity account because I wanted to make sure I had enough money to pay for school. I just got settled into a new city and new job and want to start the process again. My issue is that my savings account has about $30k more than I would ideally want it to for emergency fund purposes. Should I just dump this all into the S&P today, or could it be a good idea to just increase my monthly withdrawals to Fidelity by say an additional $2.5k over the next 12 months? Edit: Thanks all. I have transferred the $30k from my bank account to my S&P fund. [link] [comments]  | ||||||||||||
| Using Carvana and Financing a Car for the First Time Posted: 29 Aug 2021 03:38 PM PDT I found a 2019 Kia with 39,000 miles for $17500 on Carvana, I can't buy it cash right now but I can put $6000 down. Following their quick finance check it looks like I'll be approved for a 4.58% APR 4 year loan with a monthly payment of $299. I have about $40k in student loan debt but no credit card debt and bring home roughly $3300 a month. Rent and utilities run me $1275 a month. Is this too high of a payment? In my opinion this plus insurance wouldn't be that bad but I'd like some feedback since I've never financed a car before and didn't know if someone had experience using Carvana! Thank you!! [link] [comments]  | ||||||||||||
| Posted: 29 Aug 2021 07:56 PM PDT Company states that they have a "401K plan that matches 75% of your contribution if you contribute 6% of your salary." Does this mean that they will only contribute 75% up to 6% of the employees salary. What if a person decides to contribute 20% of their salary would the company still match 75% of that amount? [link] [comments]  | ||||||||||||
| Parents pulling college funding at last minute -- need advice Posted: 29 Aug 2021 07:42 PM PDT Hi all, my girlfriend is from the US and goes to school in Vancouver BC. She's in her senior year and is hoping to finish up school this year. For some background context, her parents are extremely anti-vax and as a result she has not gotten the vaccine up to this point. However, with the BC government's recent vaccine mandate, she cannot stay on campus any longer unless she gets the vaccine. This was a very sudden change of plans for her, and she's stuck between either leaving college and going home or staying and trying to find some way to pay for everything on her own this last year. Her parents have stated that if she gets the vaccine they will pull all funding that they have set away for this year. I'm not sure if her program is going to be supported as well online this year and so she really doesn't want to go back home. At the same time, she isn't able to receive any Pell grant money and she didn't fill out the FAFSA for this year. Her total expenses for this year will be around $20k, and I believe that Federal loans for her won't cover nearly enough in order to pay the rest. If anyone has any advice as to what they would do in her shoes, or resources that could help her out this year that would be much appreciated. We're currently considering private loan options so that she can stay and get the vaccine, but it's definitely stressing her out. Thanks in advance! [link] [comments]  | ||||||||||||
| Locking your SSN to prevent identity theft? Posted: 29 Aug 2021 05:24 PM PDT Hi, I'm not sure if this is the best place to post this but since Identity Theft can have big consequences on someone's finances, I thought it was ok to ask here. I've read that one way to prevent your Social Security Number to be used by an ID thief is to lock it (I'm not talking about the credit freeze with the credit bureaus). In online articles, I've read this can be done on a government's website called E-Verify and that no one can use your Social Security number when it's locked to apply for a job in your name, to apply for credit or open new bank accounts in your name. I went to check this website E-Verify and I'm a little bit confused about what it is. This is not a Social Security service but a government website that allows employers to confirm the eligibility of their employees to work in the United States. For people who have an account, there is a "Self Lock" service which helps prevent anyone else from using your SSN to try to get a job with an E-Verify employer. That doesn't seem to be what I was expecting by "locking your SSN". So, is there such a thing as locking your SSN to protect against bad things that could happen if someone steals your identity? This E-Verify SSN lock seems to be only useful for Employment-related identity fraud but not for anything else. Is this correct? [link] [comments]  | ||||||||||||
| Posted: 29 Aug 2021 08:13 AM PDT In 2017, I defaulted on group of three FFELP Stafford loans that were taken out in 2007-2008. I currently owe $417, $1817, and $2140. Due to a small windfall I have the opportunity to pay these off in full. Will an immediate payment in full affect my credit score more negatively than a loan rehabilitation program? [link] [comments]  | ||||||||||||
| Paying off Debt via Stockmarket Investments. Posted: 29 Aug 2021 03:23 PM PDT Thinking about withdrawing 3K from my stock market investments to pay off some debt, I have a total of 10k in the market. I still have my 401K but I have been putting money Into the stock market via Robinhood for about 3 years now. Do y'all think this is a good idea? [link] [comments]  |
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