Personal Finance New company policy - is this a good deal? Purchasing 2 additional weeks of vacation at 75% the cost of your annual salary. |
- New company policy - is this a good deal? Purchasing 2 additional weeks of vacation at 75% the cost of your annual salary.
- My brother hasn't filed his taxes in over 15 years. What should he do?
- I have a job offer but the job is 60-80% travel. How do I go about housing during my office weeks?
- New type of rental scam?
- Can a person set up a Special Needs Trust for themselves with inherited money due to physical disabilities?
- Selling our home and Buying another
- Possible to retire at 45 with money in 401k?
- 9 years ago, a provider billed me the full amount after not filing the claim with my insurance provider correctly. I got scared and paid it. Is there any way to get this money back now?
- Purchasing new funds for roth IRA with roth IRA fund not taxable event, correct?
- Condo vs House for saving most money/least hassle?
- Best investment opportunities and advice for 30 yr old with good job and savings?
- I think my father’s retirement accounts might be getting jerked around.
- Is this some kind of weird scam??
- Can I not transfer money from Vanguard settlement account into ETF's/Mutual Funds?
- Is refinancing student loans with the current low interest rates a good idea?
- What should I do with my EE and I bonds
- Travel nurse salary and short term savings goals.
- Investment Choices for Beginners
- Do first or second mortgages limit what you can do in a renovation?
- What’s the catch?
- Struggling to overcome the fear of purchasing my first home.
- Need to find a CPA in Florida
- Followed the infographic - Student Loan Question
| Posted: 31 Oct 2021 05:07 AM PDT My company gives 3 paid vacation weeks + 10 paid holidays by default for employees who have worked for the company for 5 years or less. (No sick leave.) However, this year they are giving us the option to purchase up to 10 additional days of vacation. The days are purchased post tax at the cost of 75% of what our annual salary would be for that time. When we actually use the days, we are not taxed on them again because we already paid those taxes. And if we don't use the extra days up the end of the year, we are paid out for them. Is this a decent deal or is there something I'm missing somewhere? [link] [comments]  |
| My brother hasn't filed his taxes in over 15 years. What should he do? Posted: 31 Oct 2021 12:51 PM PDT As the title says my brother hasn't paid taxes in a long time. He went through a rough patch--got addicted to opiates. Fell off the map for a while. He got clean which is great but that was like 7 years ago, and ever since then, he's been working under the table as a tradesman. While he was an addict he worked here and there as a tradesman, also under the table. So basically all of his income has been unreported. I'm concerned that he hasn't done a tax return in over fifteen years. I feel like it's only a matter of time before the IRS catches up to him, and he faces some sort of consequences. On the other hand, I'm not sure there's any record of him ever getting paid anyways, so maybe there's no reason to be concerned? I don't know how the IRS handles stuff like this, and what they know and what they don't know about his situation. My questions are: is he in trouble? What should he do? Does the IRS offer a path to get back on track? Or do they just throw people in jail for stuff like this? His solution is to hide his head in the sand, but I don't want to see him go to prison. He'd be willing to work towards a solution but he believes there are none, and that he's basically just fucked. Also, he filled out a form online to get the stimulus checks, so they have his address. He never got a check but he gets these letters sometimes saying that he can still fill out a form to get his stimulus money. I can only assume those are automatically sent out. So they DO send him mail, but, he's yet to receive anything scary. Edit: I just wanted to thank everyone for the comments so far, this is really helpful. [link] [comments]  |
| I have a job offer but the job is 60-80% travel. How do I go about housing during my office weeks? Posted: 31 Oct 2021 09:06 AM PDT So, I've finally been offered a job! It's a subsystems engineer position in Kennesaw, GA, and the pay starts at 60k, 75k after overtime, and 90k when you add in all the travel reimbursement and $55/diem. The benefits package is quite extensive. The job requires 60-80% travel though. I think it's really neat and exciting, but I'm worried how I would get a permanent place to live if I'll be travelling most of the time. They do pay for relocation assistance. I'm gonna ask my contact tomorrow about that, but generally speaking, how would I find housing in this situation? Kennesaw and surrounding areas are quite expensive and if I get an apartment in the area, I won't be using it most of the time, so it's a huge waste in rent. Thanks! [link] [comments]  |
| Posted: 31 Oct 2021 05:22 AM PDT Our friend who has bad credit and between jobs needs an apartment. He found a company who is creating a business entity for him and doing something to build up the entity's credit in a short period of time. He's alreaady paid about $3k in fees to this company. Is this a scam or just a shady way of obtaining a rental? [link] [comments]  |
| Posted: 31 Oct 2021 11:15 AM PDT A family member is going to inherit some money once Probate is done. They cannot work in any capacity due to physical disability from disease. Can they have a Special Needs Trust set up where they are the Trustee and the Beneficiary? They want to only take interest and/or a small amount from the Trust on a monthly basis. They would much rather do this than have it all in a bank account because that would affect the public assistance benefits they are getting. The inherited money is not insignificant, but neither is it enough to live on for any real length of time. Are said Trusts interest bearing accounts or is it just the lump sum of cash sitting there? Other family members are concerned that a person cannot set up a trust in their own name. State is New York and everyone involved is an adult of sound mind if that matters at all. [link] [comments]  |
| Selling our home and Buying another Posted: 31 Oct 2021 06:26 PM PDT Hi all, long time lurker. I need some clarity or make sure I'm not missing anything on this. My wife and I found a home in the same town we currently live in. Current price is of the house we want to buy is 329,900. Property taxes are 8300.00/year. We plan on using the equity from the sale of our current home as a substantial down payment which is over 20%. We put in an offer which the sellers accepted and it is contingent on the sale of our home, contract has been signed. We've already started the under writing process with our current lender. Our plan after our realtor takes her fees, the buying agent takes her fees, property taxes, title and closing costs will leave us net about 94,000.00. We are going to take 80,000 and save the rest 14,000 for any additional improvements to the new home. We bought our home in 2015 for 142k. We've made major improvements within the 6 years of own. The realtor stated due to the season (fall/winter) our home is worth about 249,900 so we listed it on the 28th and we've had 3 showings so far. (Hopefully more to be scheduled. I calculated my budget 3 ways. 1st I calculated my income with our current bills and mortgage payment which equates to about 2400.00 in disposable income after our bills are paid assuming overtime. 2nd way I calculated is assuming our new mortgage with the purchase of the new home leaves me about 1600.00 in disposable income assuming overtime. 3rd way I calculated is assuming our new mortgage with just a base pay no overtime which leaves me with 832.00 a month after all bills are paid. If I paid off my wife's car currently 12,200 we could add an additional 425.00 a month in disposable income. Am I doing this right? Am I missing anything? Property taxes suck in Illinois but we don't want to move to Indiana (my wife doesn't) Any other advice would be helpful. Thank you. [link] [comments]  |
| Possible to retire at 45 with money in 401k? Posted: 31 Oct 2021 05:28 PM PDT Currently wondering if there is any way to retire around the age of 45 with nearly all money in a 401k? I'm asking for a family member who has about $1.5m in a 401k with $40k in savings. Based on calculators I've used online it seems potentially viable with that amount and their spending. But all their money is tied up in a 401k and that calculation doesn't include taxes/penalties. Are there any strategies to access funds in you 401k early that may allow earlier retirement? [link] [comments]  |
| Posted: 31 Oct 2021 07:06 PM PDT During the summer, I went in for an appointment at a local doctor while on my college's Aetna student health insurance plan back in 2012. They ended up not filing the claim properly. My guess is that they filed the claim to the wrong Aetna office - which happened pretty frequently. (Student health insurance plans often have a different claims office from other employer insurance plans under the same company. Incompetent billing offices often ignored this information on the insurance card). I had zero understanding of health insurance and medical billing back then. They ended up sending me a bill for ~$700 which said that my claim was denied because I "didn't have coverage." (Probably because they called up the wrong Aetna office). I got scared and eventually paid the full thing. I just found a copy of this bill years later and was wondering if I could get this money back somehow. [link] [comments]  |
| Purchasing new funds for roth IRA with roth IRA fund not taxable event, correct? Posted: 31 Oct 2021 05:54 AM PDT Hey I've searched and am double checking to make sure I am not missing anything. Currently 100% invested in TDF and am in early 30s. Looking to buy some VTSAX/VTIAX with sell of ~10-15% TDF all inside roth IRA. This is not a taxable event, correct? Thank you [link] [comments]  |
| Condo vs House for saving most money/least hassle? Posted: 31 Oct 2021 05:32 PM PDT I've been trying to decide whether to buy a condo or house in between 150-250k range around various cities Dallas, Chicago, ATL, etc. I'm more set on a condo due to less commuting, less time/money on maintenance, and better convenience. I also don't need all the space of a house, and I feel that it increases heat, electricity, and insurance bills. However, sometimes the HOA can be more than all of these combined. The biggest negative I came across was the fact that neighbors are right next to you. If anybody has lived in a condo is having close neighbors really that bad? However, with a house most in the 200-230k are usually in bad neighborhoods even for smaller square footage. So, I would probably have to up my budget to around 275-325k range. Some condos can be expensive at around 225-250 even for 1 room sometimes though. But, overall I've found condos have been cheaper. My biggest reason for wanting a condo is having more time due to not mowing lawns and also the monotonous suburbanite living and 30min to 1hr long commutes. The only reason I can think of not getting one is the neighbors. Also, do you think it's possible to save more money with a condo or house, and which of the two is better considering these factors? I've grew up in the burbs my whole life and would like to live more in the city where there's more things to do. Idk if the neighbors deal is a complete no deal though? [link] [comments]  |
| Best investment opportunities and advice for 30 yr old with good job and savings? Posted: 31 Oct 2021 07:39 PM PDT I feel like I am not great with investing my money and need advice on what I should be doing with my current situation. Currently I have about 240k in savings. Right now, I will make a little over 200k this year which is up from about 150k last year. I put 10% in my 401k through work. I have an IRA that I haven't contributed to much which I know should probably be a good starting point. I want to invest in some ETF's and stocks but dont know where to start really. I have all my savings in Capitol One which is earning about .55% interest. Any suggestions would be helpful. [link] [comments]  |
| I think my father’s retirement accounts might be getting jerked around. Posted: 31 Oct 2021 03:27 AM PDT My father is self employed and contributes every month to a Roth IRA and another fund (can't remember off the top), has been for 30+ years. In 2013 his investment broker sold her business to another brokerage because she was retiring. At the time, the accounts were worth ~$200k, so not an insignificant amount. I was recently looking over an account summary and from when the accounts were transferred in 2013 until 2017, it was almost completely flat (aside from the monthly contributions), like it was all being held in cash. And if you check the dates the positions were opened, they all start in 2017 and 2018. However, the most alarming part, from 2013 to 2021, the total gains were a paltry 7%. Not 7% per year, but 7% total. That's not even keeping up with inflation, not even close. I'm not versed in investing but what the hell would cause such pathetic returns? He's been saving his entire life and it's like this brokerage just screwed him by doing almost nothing with his money. I mean, even in the past 5 years, the markets have gone up 60%+. We have a meeting with them next week but I don't even know what to ask or where to start. I just don't understand how it can be lagging the market so severely. [link] [comments]  |
| Is this some kind of weird scam?? Posted: 31 Oct 2021 06:22 PM PDT Okay, so I'm going through my emails and notice an order confirmation for a site I never shop at. I click on it and it's for a $90 knife set and it's using a fake name that I used years ago on a national survey that then turned around and sold my info; I get junkmail addressed to that name all the time. Only the first name was fake though, the last name was really mine. So I think, oh, clearly this is fraud and it's just that they're using this fake name they bought from somewhere. I note that the shipping and billing addresses are different. But the billing address is nonsensical (think something like 123 Memory Lane) so I googled it thinking it couldn't possibly be a real address; to my surprise, it is a real address, and the guy who lives there has my same last name. He's nobody I know but my last name is NOT common, so this is very weird to me and now I'm a bit freaked out. The credit card used does not appear to be one of mine. The address it's being shipped to is literally the same store it's being ordered from and it isn't marked as any kind of in-store pickup or anything. What is going on with this? Any thoughts would be much appreciated. Edit to add: The email was real and the shop in question is a huge national chain. The customer service number in the email matched the one on their website so I clicked the order info link. I just called customer service and reported it and they've forwarded it to the fraud department to keep a close eye on it. [link] [comments]  |
| Can I not transfer money from Vanguard settlement account into ETF's/Mutual Funds? Posted: 31 Oct 2021 06:02 PM PDT I recently put $250 into my Vanguard account, $125 into Settlement Fund & $125 into my retirement fund. I am fairly new to the Roth IRA and thought that I could add funds to MF's and ETF's, but maybe not? My questions are:
Maybe I am not fully understanding if these are even possible or if it has to do with it being the weekend? Any insight from you beautiful redditors??? [link] [comments]  |
| Is refinancing student loans with the current low interest rates a good idea? Posted: 31 Oct 2021 05:06 PM PDT I am a recent graduate with about $120,000 in federal student loan debt, I make $80,000 a year before taxes and for now, I don't feel completely overburdened with my payments. I am just wondering if by refinancing with a private company with a fixed interest rate rate while the offers are so low, (between ~2 and ~6 percent), I would save money in the long run or if it's even a good idea. I have several low percentage and low value loans at around 3-4% interest and all around 1-2k with one of them at about 6.6k but my higher valued loans are for grad school at 10k, 11k, 20k, and 40k, each with anywhere from 6.0-7.6% interest rates, (these are the ones I'm most worried about paying off and how much interest will accrue). Just wondering if I should stick with the federal loan servicer, if I should consolidate with the federal loan servicer, or if it makes sense to try to refinance now to try to save money over time? I'm sorry if I don't have enough details in my post, I'm new to the world of personal finance and don't have a lot of guidance. [link] [comments]  |
| What should I do with my EE and I bonds Posted: 31 Oct 2021 07:18 PM PDT I am 32F, two kids, married. When I was younger my grandmother bought me 100 dollars in savings bonds for my birthday each year. I have approximately 1000? Dollars in savings bonds from years 1990's-2000's. What should I do with them? Leave them till they mature? (Some are close) Cash them out and move them to 529 accounts for my kids? Wallpaper my bathroom? I've basically been ignoring them for years… [link] [comments]  |
| Travel nurse salary and short term savings goals. Posted: 31 Oct 2021 07:06 PM PDT Partner recently started travel nursing and is making significantly more money than she ever has. Currently she makes about $5000/week after taxes. We are able to save about $3500/week after rent/IRA/food/fun. We want to buy a house in the next 2-3 years and we are hoping this money will go to a down payment. Currently do not have loans and we are maxing out our iras. My question is: should we invest the money in stocks for the next three years to hopefully keep up with inflation and potentially make more money? Or is it not worth the risk? Thanks for taking the time. [link] [comments]  |
| Investment Choices for Beginners Posted: 31 Oct 2021 07:03 PM PDT I've been looking at ways to help keep my wealth growing, but I'm not entirely sure where to start. I'm pretty novice at this, but I am about to finish paying off remaining personal loan debt, and it has really gotten me thinking how I can keep investing for the future. I keep reading about buying individual stocks, mutual funds, ETFs, etc but I don't know which would be the most beneficial for more long term investing. I'm 29 years old and just rolled over my 401k into a new job that becomes 100% vested after three years with a current balance of a little over 25K. What else could I do? Appreciate everyone's input! [link] [comments]  |
| Do first or second mortgages limit what you can do in a renovation? Posted: 31 Oct 2021 06:48 PM PDT We own our house outright and are looking to acquire funding to do major renovation. We plan to knock half of the house down including the foundation, and rebuild it back up to two stories with a full basement. I have it in my mind that someone told me that a conventional loan would not allow such a rebuild, as it destroys the equity that the loan is based on. Is there any truth to this? Or would I be able to do a cash-out conventional first mortgage to fund this major reconstruction? If it is true, does this rule also apply to HELOCs? Also, I understand what renovation loans are, but I don't like the rigid nature of how they work and would prefer the flexibility of managing the equity and relationship with the contractor myself. Any references to the rules would be helpful. [link] [comments]  |
| Posted: 31 Oct 2021 06:43 PM PDT Wells Fargo is doing a promotion where if you open a checking account with them and the balance is > 50k after 90 days, they give you $700. This seems too good to be true but if so that's an easy ROI to park 50k in there for a few months. [link] [comments]  |
| Struggling to overcome the fear of purchasing my first home. Posted: 31 Oct 2021 06:12 PM PDT I am a 25 year old single male living in SW Missouri. I've got a good job ($65k/year + $3k-$4k yearly bonus) at a company that I've been with for over 4 years. I've been renting since I moved out at 18 and have been saving half of my paycheck for the past 2+ years and living pretty comfortably. I've reached the point where I've realized that the $30k in savings isn't doing me any good just sitting there and I am tired of renting with a roommate. I have zero student or credit card debt. With all this considered I am extremely nervous and stressed about buying a house. Due to the parameters that I've set on a house the listing prices are anywhere between $200k to $260k. I've been pre approved for a loan and know that I can comfortable make a $1200-$1300 mortgage payment (that includes escrow) while still putting about $250-300 per week in savings. Anyone have any advice or insight to get me off this fence one way or the other? TIA [link] [comments]  |
| Posted: 31 Oct 2021 03:51 PM PDT I've never needed a CPA before and am not sure how to find a "good one". My mother, who lives in Florida, has a complex situation involving Medicaid, Disability, and a one-time income event due to a housing sale. Our relationship is also complex, but I want to do everything I can to help her, and I believe that hiring a CPA to help her through this is the best way. I make decent enough money that I should be able to cover the costs. Any advice or recommendations would be greatly appreciated. [link] [comments]  |
| Followed the infographic - Student Loan Question Posted: 31 Oct 2021 05:52 PM PDT Hi r/personalfinance! I was hoping you all could weigh in on a decision I have been trying to make regarding my student loans. I am heavily considering the avalanche method because my grad school IRs are variable(max is 6.6%). My loans have been on deferment and interest pause since covid, graduated in 2020 so never got to the repayment process yet. My loans did accrue interest while in school and my plan was to pay the interest off before it capitalized. However, since covid I have been able to amass a 6 month emergency fund as well as enough to pay off all of the interest that has accrued since grad school and secured a high paying job that I can get ahead of the loans a bit. I need some help with strategy for avalanche though. Loans(all federal) 1 Principal: 17747 IR 5.31% Accrued $2573.38 Total $20320.38 2 Principal 20500 IR 6.0% Accrued $2929.24 Total $23429.24 3 Principal 20500 IR 6.6% Accrued $1871.14 Total 422,371.14 4 Principal 20500 6.08% Accrued $480.77 Total $20,980.77 Interest accrued so far: $7854.53 My thought is to ask for Mohela to extend my loan term to 25 years to set a lower minimum payment and attack the highest interest rate first(Loan 3). However, I cannot figure out if I should take the total interest accrued across all of the loans and just put it completely towards the highest rate and let the others capitalize the interest they accrued or pay off the interest first that has accrued on each loan. I am probably splitting hairs but if I can save myself 2-5k across the life time I will do it. TIA! [link] [comments]  |
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