Personal Finance My Parents got Solar Panels installed in 2016 with a lifetime warranty, said company that installed it went bankrupt 2019, what can my parents or I do to help them out? |
- My Parents got Solar Panels installed in 2016 with a lifetime warranty, said company that installed it went bankrupt 2019, what can my parents or I do to help them out?
- Does a large down payment make a house affordable?
- Heads Up: Vanguard now supports Security-Key-only 2FA WITHOUT sms fallback
- Opened a credit card to rent a car and my score dropped 112 points
- Bought using paypal, seller accidentally opened through paypal dispute with them as the buyer
- Should we pay off our land mortgage before signing for a construction loan?
- Credit card balance has been $0 for 7 months but is still reporting a high balance, trying to get a mortgage and it's causing an issue
- Finished school with an intact 529… what now?
- Moving out: surprise things to budget for?
- Missed Credit Card Payment By A Few Days - Impact to Credit Score?
- Salary negotiations in consulting
- Is 0% APR worth financing through a car dealer?
- Help with Fidelity
- Student Loan Servicer has no record of my automatic payments -- remedies?
- Tax Return vs. Tax Refund
- Work trip was canceled - my manager doesn't want to reimburse me for the flight
- It is unbelievable how bad I am with my money. I feel ill.
- Manager Agreed I Deserve a Raise... But Where is It?
- Pay off your mortgage early, part deux!
- Planning for the future
- Mega backdoor Roth
- Best investment vehicle after IRA and 401k
- Any clear reason to keep former 401K account open?
| Posted: 02 Sep 2021 03:16 PM PDT It's seemed like a huge financial burden on my parents and was wondering if anyone here can help me with options? Do we just need a new company to install brand new ones? 3 DONT work already and continue to wither. Edit - HOLY COW thank you so much for everyone's support, to answer a quick thing. There are actually a total of 17 panels that do not work, not 3. I just checked with my dad. Massive Thank you's to everyone. I truly appreciate all the help and will try to update tomorrow on how things go. Edit 2: The app where I can see the panels and which ones work and don't is called ENPHASE, is that the manufacturer? (I have found out it is not) Edit 3: I must go but will read any other replies in the morning and update with another post once I have contacted everyone I have been informed to contact as well as finding out other information. I did NOT expect this outpouring support for a question and appreciate everyone that guided me and educated me! [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Does a large down payment make a house affordable? Posted: 02 Sep 2021 08:12 AM PDT Hello all, I'll try to be as brief as possible. - 30 years old, currently making 87k as a mid-level software engineer- Take home is 5k a month (after taxes)- Purchased a home in 2016 for 85k- Home is now worth 150k+ (based on comps)- Owe 71k on the mortgage loan- Few remaining payments on car loan left (totaling $600)- No other debt- Car insurance, utilities, other bills total about $400 a month- 90k in savings We have always casually looked at homes, and just recently came across one that was a newly built in 2021 with high-end finishes, listed at 439k. Just out of curiosity, we went and looked at it. It is totally move-in ready other than a fence for our dog. The sellers are motivated and willing to let it go for 435k with some furniture included. I was pre-approved for a 450k loan at 2.875% interest. Knowing that I can use what I make off of selling my current house, plus some of my savings, I could comfortably put down close to 100k as a down payment, avoiding PMI. The new home has an HOA of $35 a month. I've been thinking about it for a few days and I am still questioning whether this would be the right move, and I'm curious what you all think. Any advice would be greatly appreciated. EDIT: Thanks to everyone for the advice and feedback. The clear consensus is that I'm not in the position to afford it right now, as much as I wish I could. [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Heads Up: Vanguard now supports Security-Key-only 2FA WITHOUT sms fallback Posted: 02 Sep 2021 11:41 AM PDT I just noticed this but apparently it's been this way since at least May. Before, you could register a physical security key (like Yubikey), but it would still let you get SMS codes to bypass the key, with no way to disable it. Which basically defeated the entire purpose. However, now I noticed some additional security settings on the site. You can now disable "security codes" (sms codes) and only use a security key. There's also one I just noticed (not sure if it's new too) called "Restrict account access from unrecognized devices" which basically blocks new devices (based on browser cookies I think) unless you approve it from an existing device. Not sure if I'll personally enable that one though, it's probably overkill with having a security key. But might be worth it for some, just make sure you don't clear your cookies on your only authorized device. Though you can probably just contact support if necessary. IMPORTANT EDIT: As some have pointed out, there is still a bypass using the mobile app which might actually be WORSE than not having sms-fallback. Basically when you log in to the app, even if you only have security-key 2FA, the app will ask you one of your security questions, then require you to sign up for sms codes. The big problem I see, is it lets you enter a NEW phone number, not ones already tied to your account. Theoretically if a scammer got your login and security question, they could add their own number as 2FA. So basically you can't use the mobile app yet if you don't have SMS codes set up. If you don't need the app but still want pseudo-security-key-only 2FA, maybe go into the "security" questions and enter nonsensical random answers. (That's pretty much recommended by security experts anyway, security questions are horribly insecure). [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Opened a credit card to rent a car and my score dropped 112 points Posted: 02 Sep 2021 12:24 PM PDT I opened a secured credit card with a $1500, because it is needed to rent a car, and I was traveling to Costa Rica. And well, you read the title. I charged over $1200 to it, then paid in full as soon as my bill came up. Is this normal? My score was on its way to 700, now its at 566. Is this as disastrous as I think it is? [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Bought using paypal, seller accidentally opened through paypal dispute with them as the buyer Posted: 02 Sep 2021 11:52 AM PDT Trying to sum this all up as my partner has been having a month long issue with paypal. She purchased $227 through a company while using her paypal, they were out of stock with 1 item and refunded her 8.99. Whoever did their finances did not know why she was refunded and called paypal to say it was unauthorized and paypal opened a dispute stating that the company is the buyer and she's the seller. My partner keeps trying to talk to paypal about it, has been multiple calls totaling over 20 hours, with no resolution in sight other than them saying they're working on it or some other excuse with little knowledge that the original dispute is wrong in general and she has to go through the ring with each time. She has talked to the company and they said there's nothing they can do as they don't know what happened, paypal has been unresponsive and now they're striking her balance again for the same $227 without notice. Totalling her account to be -$455, while also trying to deduct again from her credit card. Is there any advice that could be given? TLDR; partner bought from company, company has to refund 1 item, accidentally opens dispute with them as buyer, paypal keeps deducting money from balance and credit card, over a month with no resolution. [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Should we pay off our land mortgage before signing for a construction loan? Posted: 02 Sep 2021 10:25 AM PDT Hey everyone. We are about to start building our first house (scary and exciting). We have a builder and a one-time close mortgage product with a reasonable rate that we like. The product will loan 80% LTV on appraisal. We owe just south of $40k on the land and the construction budget comes in at $800k. An $840k appraisal is possible but unlikely in the neighborhood. $800k is on the high end, but not unreasonable. Land value is conservatively $150k. Land equity will count toward the down payment and (I think) help the LTV. We have enough cash on hand to pay down the land loan instead of rolling into the new loan, but for the life of me I can't get my head around the pluses and minuses of doing so. Is this a six/half dozen scenario? Can you help me understand? If I need to provide more information I'm happy to and TIA for any assistance. Edit: Oh my gosh y'all are just awesome. I really appreciate all the input and it makes us feel better to "vet" the broker here a little (I have a particular aversion to bankers after an ugly called loan on a small business years ago). I think we finally understand and it looks as if this is doable for us. This is why I love reddit. Not many places with this kind of willingly shared knowledge. Thank you! [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Posted: 02 Sep 2021 05:29 AM PDT I have two credit cards, a Bank of America card with an $11,000 limit and a Citi card with a $1,000 limit. I use the Chase card for my day to day purchases and pay it off monthly. Back in early February I needed to pay a contractor and when it was time to pay could not find my checkbook (nothing bad, just turned out my wife had moved it) so I paid $10,736 on my BoA credit card. Once the charges processed, I paid off the balance 3 days later. By the time the statement cut, the balance was zero and has reflected zero in my account ever since. Now my wife and I need to relocate for my job, so we need to get approved for a new mortgage. The bank immediately pointed out my credit card usage because I was using over 90% of my available credit. On top of that, my credit score is sitting in the low 700s. Turns out they were showing that the $10,736 is still being reported by Bank of America. I checked my Citi account, which provides a monthly credit score and history, and my score was consistently above 800 until March, when it dipped and has now been sitting around 705 every month. The person I spoke with at the bank looked over the report they pulled and said there is nothing else of concern - no other debt, no new inquiries, no late payments, etc., and that he thinks the score drop is solely due to the high credit usage. He advised me to talk to BoA and get it corrected and then said I'd be in great shape. I've spoken with BOA about a dozen times at various levels and have not gotten anywhere. So, I filed a dispute through Transunion based on my statements showing $0. I was notified that it was removed the following day, and it stayed gone for 2 weeks, then reappeared again. At this point the bank says that since I have documentation showing that the debt is actually paid off, the loan can still be done and the reported debt won't stop me from getting a mortgage. However, he said they can't do anything about the score aspect, and says I am getting a drastically lower interest rate with my lowered score, and I will pay a lot more over the life of the loan because of it. His recommendation was to keep pushing to get my report and score corrected before taking the mortgage so that I can get a better rate with the higher score that I "should" have. Does all of this sound right? I don't know what I'm missing or where to go from here. We are on a timeline and need to move very soon for my job (deadline in early December) so I have considered just taking the mortgage with the crappier rate, and then once this gets sorted out and my score is higher, hoping to refinance at a higher rate. But at the same time I'm feeling very stuck on the fact that this is happening in the first place - I can't throw money at it to make it disappear because it's ALREADY paid off, and BoA is just running me in circles. [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Finished school with an intact 529… what now? Posted: 02 Sep 2021 06:02 PM PDT I finished school without student debt and with an intact 529 (minus a few thousand). Now I'm not sure how to proceed. Should I withdraw the money, pay the tax and the penalty, and reinvest it elsewhere? Or should I leave it and take the penalty/tax hit later on when it's grown? Currently it generates 7% a year, which seems healthy. I could not easily pass it on to my kids. Thanks in advance! EDIT: Some clarifications! I went to school in Europe, which is very cheap, so I have no debt from that. In addition, I'm not planning on going back to school and my kids aren't eligible as they aren't US citizens. I'm only wondering if it makes more sense to withdraw it, take the penalty/tax hit and reinvest it, OR leave it in the 529 to grow and then take the penalty/tax hit later. [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Moving out: surprise things to budget for? Posted: 02 Sep 2021 06:38 PM PDT So I'm looking at moving out of my parents' house to my first apartment and it got me thinking, what are the surprise things that nobody ever thinks about before moving out for the first time? [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Missed Credit Card Payment By A Few Days - Impact to Credit Score? Posted: 02 Sep 2021 07:43 PM PDT BLUF: AutoPay set to pay bill on due date of August 31. Get notice of insufficient funds on Sept. 2, payment did not go through. Realize mistake and immediately pay off credit card in full. Will this impact my credit score? . . . I had my Apple Card set to AutoPay from a joint account I share with my wife, the only account I have AutoPay tied to for any of my 6 credit cards. For whatever reason, I forgot to keep the account balance greater than what I owed on my Apple Card, leading to my bank rejecting the payment due to insufficient funds. Realizing my error, I transferred money into the joint account and immediately paid off my Apple Card's balance in full. Will this impact my credit score? I have an 800 now, so this is an uncharacteristic blunder. Totally my fault but hoping it doesn't hurt too much. I've read about 30 day grace periods for lenders reporting deficiencies to credit agencies, but I'm not sure exactly how that applies. Thanks in advance! [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Salary negotiations in consulting Posted: 02 Sep 2021 12:27 PM PDT Hi! I work in consulting. In this line of work, salaries among colleagues in the same position are mostly in lockstep, meaning salary wise, you move up at the same pace. When I go into salary negotiations, my manager often asks me for my number, saying he will try to negotiate for that. Is the company actually trying to get low numbers in to offer anything below lockstep salary. Or do these numbers really help determine the median salary expectation? [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Is 0% APR worth financing through a car dealer? Posted: 02 Sep 2021 05:24 PM PDT Test drove the new Honda HRV and love it. They have a Labor Day 0% APR deal running valid for 24 months terms (the length we were planning to do). Our credit union would be 2.5%. Boyfriend thinks it's a no brainer but I feel like there are so many horror stories of dealer financing gone wrong. Thoughts? Tysm xx [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Posted: 02 Sep 2021 11:57 AM PDT I just opened a Roth IRA account on Fidelity, & am curious as to how this works. I have it set to initially deduct $1000 from my bank account, & plan on setting a recurring investment into it of $400 ($200 biweekly) for now. Now I know in order to have growth you need to buy, for example, ETFs. I have a few in mind that have been recommended on here recently, but the question I have is do I just buy one stock each of the ones I'm looking into, & continue the recurring bank transfer & let it sit? Does the investment grow that way alone? Or do I need to continuously purchase stocks to see the growth? Any answers or help would be appreciated, thanks in advance. [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Student Loan Servicer has no record of my automatic payments -- remedies? Posted: 02 Sep 2021 01:11 PM PDT I have a private undergrad loan with a small servicer. For purposes of this post, I'll call them Shit Loans. I have my auto pay set to debit $X, quarterly. Shit Loans has record of this. I was reviewing my bank statements carefully today, and noticed a recurring charge to Shit Loans for $Y, monthly (a slightly smaller amount). Shit Loans has no record. The payment for $Y does not line up with my recurring debit preferences set on my account with Shit Loans. And, like I said, there's no record of these payments on my account. I called Shit Loans today and they had no more info; claim they haven't received, had no record, nothing. I called my bank and they verified both payments - $X and $Y - are to the same party. We opened a dispute and a formal fraud claim. But they can only protect me 60 days. My dumb ass made these payments FOR TWO YEARS. If Shit Loans applied the charges, my loan is paid off. And before you read me the riot act: I have six figures in undergrad and law school loans with approx thirty different assholes, and this was an exercise to consolidate. So: I know, not smart, but here we are. My thought is to try a CFPB claim, but are there other remedies -- short of going to the Shit Loans office and primal screaming -- that this subreddit recommends? [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Posted: 02 Sep 2021 05:53 PM PDT The tax return is the document you fill out every year and submit to the government. The tax refund is the money you receive a few weeks after submitting your tax return. I don't bother correcting people anywhere else on reddit, but I think we should all strive to use the terms correctly on the PF subreddit! Have a great rest of the day, everyone [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Work trip was canceled - my manager doesn't want to reimburse me for the flight Posted: 01 Sep 2021 10:48 AM PDT This is a weird one, apologies if this is the wrong subreddit. Last week, my manager asked us to book flights and hotel rooms for an out of state training. We use personal credit cards and are reimbursed at the end of the month. I booked my flight, and got us an Airbnb since it was cheaper (and nicer) than 3 hotel rooms. The training was canceled today. Thankfully, I was able to be completely refunded for the Airbnb. But the airline will only issue me a credit for the flight. My manager does not want our company to reimburse me for the flight, since I can use the flight credit for personal travel. I requested that the company still pay me for the expense, and if I use the credit (which I honestly don't plan on it - all my travel for the next year is already booked) - that I will let them know and they can deduct it from my paycheck at that time. My manager said "we can talk about it". What would be normal protocol for a situation like this? Am I just SOL for the $200 flight I booked? [link] [comments]  | ||||||||||||||||||||||||||||||||||
| It is unbelievable how bad I am with my money. I feel ill. Posted: 01 Sep 2021 02:00 PM PDT I make 10k a month a average. For the last 2 years. I have less then 1,000 in my account. I need serious help. My spending for this year is 80 grand. The worst part is I don't even know what the fuck I bought. How do I stop this. I need to start being a adult and learn to be responsible with my money. Edit: Was not expecting this to get as much attention as this did. When I wrote this half panicked yesterday I expected to get 3 comments calling me a dumb ass and single comment to really help me out. I want to say thank you to everyone who took the time to share there opinions on this subject. From the bottom of my heart. You have no idea what it feels like to ask for help and get overwhelming amount of it. I have read each and every comment and well I am not replying to any I have saved and screen shot the ones that have stuck out to me. Today I took half a day off from work and spoke with my bank. They have set up a financial plan with me to try out for the next 3 months. Showed me projected savings for 3 months and a handful of years. I have also checked out the YNAB website and book everyone is recommending along with downloading mint and setting things up there to see a break down. I can say a large portion of my income goes to dinning, shopping and travel with only about 21% going towards actual bills. Guess you don't realize how much those dinners add up. As for the people who dug through my comments and found I have a history of gambling I can see where and how we got to the conclusion it may be a gambling problem. However, I can promise you the amount I spend on poker is a tiny amount. For the year I have spent 1400 since February on gambling. Which I get is wasted money however, well I play a lot of poker. I deposit very few times. Poker stars transactions are only 5 for this year. A lot of people asked about my past. I went from making 26k a year for 6 years of my life thinking that was good money. Until I realized I couldn't do anything with that except pay bills. Couldn't take girls out to dinner. Couldn't go with friends anywhere. When I got my first $9,762 dollar paycheck (I looked up my last years income file) after my first month of sales I blew it all. I told my self I'd never do that again. Month after month I had these paychecks coming in. Some months larger, other months smaller. The outcome was the same. I'd spend it all because I knew I'd make more. It's horrible. Im glad I posted on her and received the help I did. Thank you everyone. [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Manager Agreed I Deserve a Raise... But Where is It? Posted: 02 Sep 2021 05:31 PM PDT Back in June I scheduled a 1 on 1 with my boss and presented various reasons why I deserve a raise, ie. doing additional work that others are not, supporting our global team with their issues, and other above and beyond bullet points for my position. As well as presenting some research I did for similar salaries in my area at the same job title. After giving my brief presentation on why I deserve a raise, he agreed with me and said I made some good points and that he would 'put something together' to present to top management to make my case. It is now September, and I still have not gotten the raise. I've brought it up a few times to my manager and each time there's been what seems like a valid excuse. There were some big summer sales meetings he had to present during, his vacation, some other employee issues he had to handle, etc. I don't pester him about it, and every now and then he'll let me know, "I haven't forgotten about you! I'm finishing putting together the presentation I need to give to upper management to make a case to give you a salary increase." First he was 'putting together all his details' and now it's been, 'I just need to make time to sit down with the GM to discuss my details.' I'm certainly not trying to be a pest about it, I know that he is a very busy person, but the other side of me says, we're all busy people, but we all make time to do the things at work that we need to do, especially, when say we're going to do them. I want to believe he's on my side and is actually prepared to try to get me my deserved pay increase. In the meantime, I've been delaying going on other job interviews and also just getting this defeated feeling everyday that goes by and he's not calling me into his office to follow-up with me about it. I'm willing to accept that upper management chooses not to give me a raise at all, at this point, I just want closure on the issue so that I can either get my raise, or move on with my life and possibly find a job that will pay me for the work that I do. Has anyone else been in this situation? Do you think I'm being lead on? Should I bring it up with him? How do I press him to get his part done without sounding like an ass? [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Pay off your mortgage early, part deux! Posted: 02 Sep 2021 12:02 PM PDT My last post about paying off your mortgage early got a lot of traction, so here's a follow-up with a link to the spreadsheet to play with yourself. Spreadsheet inputs:
There are three scenarios modeled:
What did I find? At the end of 30 years, the balance in your investment account is unsurprisingly highest if you invest everything, second highest if you pay off your mortgage in a lump sum, and lowest if you pay extra on your mortgage every month. And it's not even close. During a strong 30 year stretch, you could be well over a million dollars ahead, and during the worst market stretch you are still several hundred thousand dollars ahead. Very interestingly, you will pay off your mortgage years earlier if you invest and pay a lump sum than if you put the extra towards the mortgage. Sample Scenario Inputs
Results after modeling every 30-year stretch of S&P 500 returns
To play with it, make a copy for yourself. To use the macro, click the button. Then click through all the pop-ups to give the app permission. (You can look at the code under Tools->Script Editor first.) After you click through the permissions pop-ups, you need to click the button again to make it go. It's slow, sorry. I've never used Google Apps Script before, I have no idea how to optimize. There are some stats and charts in the last worksheet. Don't re-arrange the worksheets if you want the script to keep working. Let me know if you have any questions on the spreadsheet or if you find any bugs. Frequently Asked Questions on my previous post Comment: You can't put a price on being debt free! Response: You will pay off your mortgage faster if you invest your extra money and pay it off in a lump sum once your balance is sufficient. Comment: Your rate of return is too high/low! Response: The spreadsheet uses actual historical returns from the S&P 500, and it calculates returns for all three scenarios for every possible 30-year stretch, starting with 1926-1955 and ending with 1992-2021. But it has functionality to plug in whatever the hell rates you want. Comment: The market is too risky/the mortgage pay-off is risk-free. Response: Even when you look at the worst possible stretch of 30 years since the inception of the S&P 500, you still end up tens or hundreds of thousands of dollars ahead investing your extra cash instead of paying off your mortgage early. Comment: The market is too hot right now, we're in a bubble and due for a crash. I'll invest later. Response: This entire situation by definition involves dollar-cost averaging. The actions of the market over a few months or years are inconsequential. Also, time in the market beats timing the market is a fundamental principle of investing. Comment: What about taxes? Response: Capital gains taxes are included for the scenario where you cash out your investment to make a lump sum payment, otherwise the final balances are all subject to long-term capital gains and will all be taxed accordingly. The scenarios I analyzed used 25% which is what rich people in California with poor planning might pay, but everyone else will pay lower. I ignored mortgage interest tax deductions because with the new higher standard deduction and the miniscule interest rates these days, the benefits are negligible. Comment: What if you lose your job and can't afford your mortgage any more? Response: This was my favorite. You pay off your mortgage faster if you invest then pay a lump sum. Also, what good is a lower principle when you can't make your mortgage payment? All that equity means jack when your emergency fund runs out and nobody will refinance you because you are unemployed. Comment: I paid my mortgage off years ago and never regretted it! Response: Your mortgage rate was a lot higher than what is available today. Also I'm not criticizing that decision, I'm showing you a faster way to do it. Comment: What if the market crashes? Response: The worst 30-year stretch of historic returns is still well ahead of the 2.7%/year you can get a mortgage for these days. And again, time in the market beats timing the market. Comment: What about inflation? Response: It affects every scenario. You can divide the final numbers by 2 if it makes you feel better. But you can model having increasing amounts of money to save/invest each month as well. Comment: But seriously, it's so great to pay off your mortgage early! Response: You will pay it off faster by investing your extra money. Let me know what you think! [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Posted: 02 Sep 2021 06:28 PM PDT Hey Reddit so I just graduated college and started a new job in Boston that pays 72k a year. I think this is a pretty salary but don't know how I can start saving towards the future for investments/retirement ect. So any tips? I also have no debt from uni and want to buy a home or property in the near future! [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Posted: 02 Sep 2021 06:26 PM PDT I am considering making a mega backdoor Roth contribution this year and would appreciate anyone who could troubleshoot or poke holes in my plan. I have already maxed out my regular Roth IRA for the year and am on track to max my HSA and pretax 401k. The plan: I will make an after tax contribution to my 401k. My plan allows this but it is capped at 5% of gross. I will then immediately do an in plan Roth rollover. My plan allows this but my understanding is that I have to do it manually, it can't be automated as far as I know. Questions -
Thanks in advance! [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Best investment vehicle after IRA and 401k Posted: 02 Sep 2021 12:21 PM PDT If you're able to max out your IRA contributions and you're putting enough in your 401k, what options are next for the best way to grow money for retirement? Just a brokerage account? [link] [comments]  | ||||||||||||||||||||||||||||||||||
| Any clear reason to keep former 401K account open? Posted: 02 Sep 2021 02:15 PM PDT Asking y'all who are much smarter than me as I always second guess myself on these things. I finally rolled my many 401Ks into my Vanguard IRA last year; the funds I had available to invest in were limited and mostly high expense ratios so it felt like a no-brainer. Now I have two 401Ks again but this time both with Vanguard. I've put the options into a spreadsheet: https://imgur.com/a/pF35nKY?nc=1 I understand the general sentiment that contributing to any retirement account is better than not contributing (obviously) but if you have thoughts on the specific funds please share. Is there a benefit to keeping the old account alive? I was mostly looking at expense ratios and returns, although the returns shown are ytd so maybe not a helpful datapoint. Secondly, in this case it might make more sense to roll the old 401K into the new 401K rather than my IRA right? I think in my IRA I would pretty much invest in the same funds I have available in my current 401K, but it seems in the 401K I get better expense ratios. TIA [link] [comments]  |
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