Personal Finance US Bank opened a checking account in my name without my permission. |
- US Bank opened a checking account in my name without my permission.
- I messed up. Went to ER
- Old Stock Certificate - Worth Anything?
- Isn't the whole "use a roth IRA because your tax rate will be higher later on" argument just plain... misleading?
- Best accounts for adult to put money in for kids
- Is a master’s degree worth it?
- My father is 52, and refuses to save for retirement, despite an employer sponsored match. I would like to take advantage of his match instead; would this be possible?
- Does having the money mean I SHOULD pay off one of my student loans?
- Still renting at 37 and can’t get over missing out on the housing price surge
- Moving from car-free to car-dependent city, how much car do I need?
- Where to buy/rent?
- How do you transfer cash into an online banking account? Help.
- First time asking for a raise, how should I go about it?
- How do I support my improvised mom?
- Credit report complains that I need 11k larger line if credit for a "good" score. I don't want to take out loans. Do I just open a bunch of credit cards?
- How are ongoing fees paid on a mutual fund purchased through a 3rd party platform?
- Someone sent me money through Zelle through my phone number but I don’t have a Zelle account set up, how can I receive this money.
- Am I making a mistake if I buy a new car as a new grad?
- Child Savings Account
- i did the math and i will save $1200 in my 2020 taxes if I re-characterize my $6,000 Roth-IRA contribution as traditional. Should I?
- Can you lose your contributions to a 401K?
- Any reason to NOT have an IRA?
- Building credit for a 16 year old
| US Bank opened a checking account in my name without my permission. Posted: 05 Sep 2021 01:36 PM PDT The other day I got a statement in the mail at my home address from US Bank. I don't have any accounts at US Bank. I have never had any accounts at US Bank. The statement was a standard looking monthly statement for a US Bank checking account in my name. There were no transactions. It showed a balance of $0.00. I thought this might be a prelude to some type of fraud, perhaps transferring money from my real bank account. I tried to login to this US Bank account on their website. I went through the process to register a username for "my" account and they said they would text me a code to my number ending in XXXX (last four digits of a phone number I've never had). So, I couldn't do that. I called US Bank and told the customer service rep what was going on. She immediately forwarded me to the fraud department. The fraud guy looked up "my" account and told me that it was opened by their "back office" about three weeks ago. He seemed unconcerned. He said to wait a week and see if I get something in the mail explaining it. If not, call back and they can close it. Did this ever happen to anyone? I'm wondering what is going on. [link] [comments]  |
| Posted: 05 Sep 2021 02:17 PM PDT I'm 26 not current debt. No saving. I went to a "freestanding" ER last night because I thought I was having a heart attack turns out I wasnt and it was just a panic attack and probably gerd. Ingot 2 xrays and blood work done. I'm uninsured and upon leaving was hit with a $850 facility fee that I had to pay at least $50 on to leave.(I set up a payment plan using my credit card). And im going to be hit with a physician fee later which will probably be $4000 probably more.. I'm so screwed. I dont have this money and I've read online that the patient advocate people in the billing department dont care and will try not to lower the price. Wolhat should I do? [link] [comments]  |
| Old Stock Certificate - Worth Anything? Posted: 05 Sep 2021 06:18 PM PDT Found an old stock certificate and was wondering if anyone knew if it was real and worth anything. Can't find much on it. Thanks for any help! [link] [comments]  |
| Posted: 05 Sep 2021 04:53 PM PDT I commonly see advice to use a roth IRA instead of traditional when you're young because it will lower your tax liability on the back end. But the way I see it, wouldn't I be better off using a traditional account so I can afford to contribute more now and let it grow for the next 40 years? i.e. Why would I want to pay 24% income taxes right now just to avoid paying 30% some decades in the future? The extra $$$ I contribute today could double 3-4 times over the next few decades, which makes a few % saved on taxes seem like peanuts. [link] [comments]  |
| Best accounts for adult to put money in for kids Posted: 05 Sep 2021 06:27 PM PDT I have 4 kids (1, 4, 9, 11) and want to do more to out money in accounts for them that that won't put me (or them) through super complex tax returns. Bonus if it can go tax free towards education, but not a deal breaker. My idea is that I want to show them how money grows and compounds to get it in their heads that saving money is worth it. Part of Christmas/birthday/whatever will likely go into this account along with anyrhing they want to add. Anyone go through something similar or have some good ideas on types of accounts? [link] [comments]  |
| Is a master’s degree worth it? Posted: 05 Sep 2021 06:08 AM PDT Im in my mid 20s and ever since graduating from my undergrad, I've been thinking about pursuing a masters in either Information Systems, or an MBA. For those of you who have a masters, was it worth going in debt for? Did you get a big enough pay increase? Did it open up more job opportunities for you? [link] [comments]  |
| Posted: 04 Sep 2021 10:46 PM PDT Some background: my father is 52.5, makes $80k/yr, and his company offers a standard 6%/3% match (so he contributes 6% of his income to a 401k, and the company an extra 3%). He doesn't believe in saving for retirement (for stubborn reasons), and does not have a 401k. Today, I asked him if I could give him $4800/year for the next 7 years, and in exchange he would sign up for the 401k and take the match. Then when he turns 59.5, I would like him to withdraw the 4800 x 1.5 x 7 = $50,400 and give it to me. He was pleasantly surprised by the idea, and said he'd think about it. In theory, it sounds like a guaranteed 50% return on investment for me (because I am getting all the match money). In practice, I have a lot of questions. I'll list them here:
Thank you in advance! EDIT: My father comes from a culture where keeping your word is a core part of your identity. He has worked himself to the bone to repay family loans in the past, so I don't worry he will reneg on his part of the deal. Thank you for your concern! [link] [comments]  |
| Does having the money mean I SHOULD pay off one of my student loans? Posted: 05 Sep 2021 02:18 PM PDT Hi everyone! I'm 26. I have a student loan of the amount $5400 via Sallie Mae for a total of 144 months at a 10% interest rate. I pay ~$80 a month on it. I have a savings account with several grand in it. If I were to pay this loan off I will still have about $21,000 in savings. My gut tells me to just pay off the $5400 loan in full and be done with it. I still have serval loans from school but the 5,400 one is the least amount. Just because I do have the money to do this, should I? Edit: I put at least $500 into savings every month. No credit card debt. [link] [comments]  |
| Still renting at 37 and can’t get over missing out on the housing price surge Posted: 05 Sep 2021 03:27 PM PDT The housing market where I live is still on fire (Phoenix). For one reason or another, throughout my life, I haven't been in the right position to buy a home until earlier this year…when I was priced out of the market. I'm single without kids. The housing prices are like a moving target, and it pisses me off more than anything. It's starting to feel hopeless. I might be able to afford a tiny condo in an okay yet away from cool things area by next year when my lease is up, if I'm lucky. [link] [comments]  |
| Moving from car-free to car-dependent city, how much car do I need? Posted: 05 Sep 2021 07:36 AM PDT Moving soon from a VHCOL city where I haven't needed a car, to a "merely" HCOL city where I will need a car. I will be primarily working from home for the foreseeable future so I don't want to spend a ton of money on a car I'll mostly use on weekends and for nearby errands. I'm fortunate that my VHCOL-based salary will move with me and I don't have a ton of other expenses. While I don't think it's necessary, $500/mo car payment (plus insurance and gas) wouldn't break the bank. That seems like an awful lot of money for something I'd only use a few times a week though. I have excellent credit and some cash savings so I'm not worried about the cost of financing (or maybe even paying for it outright), so much as not overpaying but also not buying a total clunker. I just need something to drive around town for groceries and the occasional weekend trip. On the other side - given the crazy market right now, does it make sense to look for a late-model or an older used vehicle? How much should I expect in savings on a 3-5 yr old sedan vs a 5-10 yr old sedan vs a new one? What's the ballpark to pay for a "normal" car, anyway (I realize this is a horribly broad question)? I'm really not even sure where to begin. [link] [comments]  |
| Posted: 05 Sep 2021 06:03 PM PDT Hi everyone, So to make a long story short, I'm 17 years old (going to be 18 in a month), a senior in high school, and I currently live in rural Pennsylvania in the US. I've been working full time since I was 16 and I have currently just over 60k USD in savings/investments. I've saved just about 33k on my own and I've been fortunate enough to inherit the rest. I'm looking to get into real estate as a real estate agent with an ultimate career goal of becoming a real estate broker/developer. I don't plan on going to college since I don't think that would make much sense for my situation. My ultimate goal is to live in NYC one day, but I don't think that would make the most sense for the immediate future. Since I have a decent amount of money saved for my age, I'm thinking buying would make the most sense. I already have an established credit history after being an authorized user on a few of my mom's credit cards, who happens to have excellent credit, since I was 16. She'd be willing to co-sign a home loan with me too. However, here's where I'm lost. I want to stay under a 200k price point and I definitely want to leave my hometown because there just aren't substantial career opportunities, especially in real estate. I'm really looking into moving to Philly right now because it's a relatively low cost of living city and there are a lot more career opportunities. I mean, there's drawbacks to living there too, but nowhere is perfect. I'm looking into cities like Chicago too, for the same reasons; low housing prices and more career opportunities. Where I'm especially torn is when I'm deciding if I want to buy a house or a condo. Since I only have a 200k budget, a lot of houses I'm looking at in those places are either in really bad neighborhoods or need loads of work. On the other hand, with condos, you're stuck with HOA fees and they typically don't appreciate as much as homes do. Then, since I want to live in NYC permanently, there's a part of me that thinks maybe I should just scratch the buying and just go rent in NYC. Any insight anybody has, especially if you've lived in any of these cities or anywhere else you think would be a good fit, or if you work in real estate would be greatly appreciated. TLDR: 17y/o with 60k in savings. Should I buy a house/condo in a city like Philly/Chicago or rent in NYC? [link] [comments]  |
| How do you transfer cash into an online banking account? Help. Posted: 05 Sep 2021 06:03 PM PDT I am having trouble with this. With the previous bank 🏦 I was with I was able to write a money order to myself and take a picture of it to deposit online. Apparently, Capitol one 360 doesn't allow money orders. And since it's not a brick-an-mortar bank I can't do it with a teller. How do I deposit a 1000$ into my online banking account? [link] [comments]  |
| First time asking for a raise, how should I go about it? Posted: 05 Sep 2021 02:45 PM PDT For context, I expo at a restaurant that just switched management. My previous boss promised me a raise but never got around to it. Luckily I know the new general manager & get along well. We only have 2 expos & the other guy spends most of the time on his phone sitting down while I take care of most things (he makes $15, 50¢ more than me). I've also trained my previous partner who was notoriously lazy, refused to close or work weekends & was fired a few weeks prior (he made $17, $2.50 more than me). I like to think I'm fairly competent & have always stayed whenever asked, & only have 1 day off a week so I'm confident I deserve more than them but I'm scared of how to ask. How should I word it? [link] [comments]  |
| How do I support my improvised mom? Posted: 05 Sep 2021 03:24 PM PDT Title says it all. I am college grad, who worked on Wall Street for two years and is now at a major law school with a guaranteed job waiting. I will be on the standard big law track; so I know what salary I would have or be at any given year. But even with all of this security, helping my mother live seems impossible. My mom is a home health aide and has been working at same nursing home for the past twenty years. She makes almost an unlivable wage; she made 21k last year. That's practically 1800 a month and it makes me sick. Recently, her basement apartment was flooded and she's now homeless (staying at a relative). At this apartment, she had a makeshift agreement where she paid 800 bucks a month, and she could afford that. But now she's faced with the prospect of getting an apartment that averages 1k. Which is insane for a very working class city; it truly makes no sense to me. The market in her city shouldn't be that high. Especially, when people like her out number people with my credentials 20 to 1. How do I help without exposing myself to dependency, credit liability, and constantly having to fork up cash? Sure. I'm going to make a substantial amount of money, but I also have student loans, I want a family, I want to buy a home (never had one growing up), saving for retirement, and most importantly, save for children's future. I simply don't know how to prepare for a future that includes her. Idk. [link] [comments]  |
| Posted: 05 Sep 2021 07:08 AM PDT My credit score has been at X for the last two years (called "average"). I've never missed a payment and never gone over 50% usage. As the title says my credit report says my biggest problem is my low total credit, $4k total, and says I can break through if I have $15k total. I have no other debts and just the one credit card I want to use. Is it telling me to open a bunch of credit cards to get a good score? [link] [comments]  |
| How are ongoing fees paid on a mutual fund purchased through a 3rd party platform? Posted: 05 Sep 2021 06:49 PM PDT Good day. My wife is a non-US citizen considering purchasing a US mutual fund through a third party platform based outside the US. How are the fund's ongoing fees paid in this scenario? If fees are deducted from dividends/returns, what happens when returns are negative? Thank you. [link] [comments]  |
| Posted: 05 Sep 2021 05:52 PM PDT Do I just have to set up an account and the money will be there? [link] [comments]  |
| Am I making a mistake if I buy a new car as a new grad? Posted: 05 Sep 2021 05:41 PM PDT Hello personalfinance, I'm a new grad that started a job a month ago. I've relocated to Atlanta for the job and have no car. To offset this, I've relocated to midtown. Problem is, a lot of the things here are not within midtown, public transportation is limited, and the area is very car-reliant. Some of my biggest goals, while I'm here, are to work on myself and learn new skills that I've been wanting to do for so long. Ex. taking tennis lessons, swimming lessons, etc. There's also essential errands like: monthly shopping from ethnic grocery stores, haircuts, doctor's appointments... that all require a car. I've been putting in a decent amount of money into transportation costs. I've calculated lyfts/zipcar will cost me roughly $2500-3500 per year based on my current lifestyle. But this is less convenient than a personal vehicle (zipcar needs to be planned a week in advance / lyft prices are constantly increasing & fluctuates heavily). So my thinking shifted to buying a used car instead, but with the crazy hot market for used cars right now, a lot of people are suggesting buying a new car instead. The perks of new warranty/safety systems/low-interest loans / as well as the current price of used cars seem to have convinced many it's the right thing to do right now. Because I'm currently working from home right now and my office is commutable from where I live, I feel like buying a car falls under pure leisure spending, except these activities are very important to me. I'm obviously biased as the thought of a new car purchase excites me, but growing up poor, the frugal lifestyle has stayed with me. I'm not sure if I'm making the right choice here. For someone that will drive low miles / drive 3-4 times a week, is this a mistake to finance a new car of up to $25,000? For context, my salary is around 120-130k, 10k in student loans, 40k in net worth. The car I'm considering is something reliable like a 2022 honda civic. Any insight into the situation would be appreciated. Thanks! [link] [comments]  |
| Posted: 05 Sep 2021 11:53 AM PDT Hello, My 2 year old daughter has about $450 in her piggy bank. I started to open a savings account at the local bank for her birthday, Christmas, etc. money but then I realized that with the length of the savings being potentially 18-20 years there may be an opportunity for compounding. She will probably receive $200-$300 per year with that amount probably going up as she gets older and less interested in toys as gifts. Is there a certain company or vehicle that would be best to invest this money to compound some gains over the next 20 years? [link] [comments]  |
| Posted: 05 Sep 2021 07:15 PM PDT I don't need the money right now. Just wondering which I should do. [link] [comments]  |
| Can you lose your contributions to a 401K? Posted: 05 Sep 2021 07:14 PM PDT Hi! After scouring the internet for phrases like "Can you lose 401K contributions" or just "lose 401K contributions" and watching Google come up with nothing in quotes, I started getting nervous. My wife and I are deep into long-term financial planning, and are currently looking at our employers' 401K plans. Long story summarized into a simple question: Can one lose their contributions to a 401k? We are only concerned with what we're putting in, not the employer(s). We are simple people who hope for the best (no lost contributions + lots of gained interest and happiness), plan for the worst (keep contributions but no gained interest, no extra happiness) and dread The Worst of the Worst (no contributions, no interest, zero happiness AND the Vikings get to the Super Bowl and lose again). I blame the whole coming of age through two recessions and one super fun pandemic. I know it's bleak, but my wife and I aren't the most optimistic of people given recent economic activity, but knowing what to expect with our contributions now will help a lot over the next 30-some odd years. My wife has asked these questions: "What if the market crashes the year before we plan to retire?"... "What did folks who wanted to retire in 2009 do if all their 401k was gone because of what happened in 2008?" ... and: "Did they at least have their original contributions to rely on?" We can work with knowing our contributions are safe at the very least. In this case, it's a tertiary savings account that we can depend on -- minus anything gained from employers or interest -- in retirement. But, we will plan differently knowing we're putting our hard-earned money at risk... interest and employers be damned. Thank you for your help! [link] [comments]  |
| Any reason to NOT have an IRA? Posted: 05 Sep 2021 07:04 PM PDT The only financially wise thing I've ever done was start contributing the max 401k percentage that my company matches when I started working full time at 18. I'm 37 now and the 401k is nearing 100k. I currently have a good job with with good base pay, and guaranteed bonus for at least the next few years. I can afford the max 6k and still have money to pay the bills and finish off my credit cards. So is there any reason not to? [link] [comments]  |
| Building credit for a 16 year old Posted: 05 Sep 2021 07:03 PM PDT First of all, I apologize if this is an over-asked question. I've been trying to Google these things a bit, but feel like I'm mostly finding sponsored results. Ok, on to the actual topic. My brother is 16 years old next week, and has been taking a big interest in finances and his future. Dreams big, sometimes overly optimistic, but overall a smart kid. He wants to start building his credit score now, and hopes to be a young homeowner in the future. He works about 12-15 hours a week at a restaurant, and has been reliable and responsible at that job. All that being said, what are the best ways for him to build his credit? We looked at Chime, but that requires applicants to be 18. He found Self, but just a quick glance through that has me feeling…dubious; maybe I'm just hesitant of TikTok fame, or misunderstood the way they help build credit, but it seemed convoluted. I'm willing to co-sign a secured card or make him an authorized user on a credit card, but want to ensure that I'm not at risk of losing more than $500-$1000 if he suddenly starts making foolish decisions. I'd like to pick option(s) that will actually have as strong an impact as possible on his credit score. Any obvious stand-out winners we should be looking at? [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