Personal Finance 30k sitting in “savings” account doing nothing…better way to utilize the money? |
- 30k sitting in “savings” account doing nothing…better way to utilize the money?
- Mentally challenged co-worker can't afford home repair, not sure if there are other resources available to her.
- Divorced and stuck with debt?
- Is my employer be committing wage theft??
- No Longer have an HSA but still have a balance - what do I do?
- Asking for a raise
- 17 years old and looking for advice on how to invest
- What are the tax-advantaged strategies with a non-working spouse?
- Someone crashed into my car, they want to give money in cash, need advice
- Are there any disadvantages to being overpaid?
- Unaware I was enrolled in life insurance for the last 8 years, never paid the premium. What do I do?
- Unemployment question
- Getting an apartment with my boyfriend
- Rent raised for new lease - will rent prices dip in Jan 2022?
- Didn't know Medicaid Ohio Laws - Too much Cash on Hand? What to do?
- Hacked account and $1500 used
- Do i have any options for a car loan?
- Landlord not charging rent
- My fiancé is his mother’s conservator and she has medical debt.
- Help with portfolio
- Traditional IRA deductions
| 30k sitting in “savings” account doing nothing…better way to utilize the money? Posted: 07 Nov 2021 08:57 AM PST I'm getting like $6 return on my investment every month. Any recommendations on how to best make the money work, like stocks or crypto? I do plan on pulling the money out in a few years for a large purchase, but I'm wondering if there's a better way to store it rather than a savings account. [link] [comments]  |
| Posted: 07 Nov 2021 03:00 PM PST As the title states, my co-worker is in her 60's and while she is able to work, she has an obvious degree of mental challenges when it comes to decision making among other things. It's worth noting that she is still mentally fit enough to be the legal guardian of her two severely mentally disabled grandsons both of whom receive social security benefits. (She has two mentally disabled daughters who live at the home also, one who works and one who also receives SS benefits.) My understanding of the situation--she has difficulty explaining it to me--is that the sump pump in her home needs major repairs/replacement in the thousands of dollars range. She has already attempted to receive financial assistance from our local county but because of all of the SS benefits the household earns too much money to qualify for assistance. (She told me the amount was $89k.) I hate to say this but I suspect part of the reason she is in this situation is because she--along with the daughter who works--has impulse control issues/bad spending habits and thus they live paycheck-to-paycheck. I have offered to help her go over her bills and attempt to find where she may be able to cut expenses to come up with at least some of the money but I doubt even if I did that she would stick to such a plan... I'm wondering if there are resources for her that I am unaware of, because at this point all I can think is that she might have to take out some kind of home equity or personal loan which is obviously not a great idea for someone who is bad with money and lives paycheck-to-paycheck already. Any possible ideas/suggestions to help her are appreciated. [link] [comments]  |
| Posted: 07 Nov 2021 03:50 PM PST 2 years ago divorced and in the decree it stated that she needed to get a vehicle out of my name due to it being hers and she has yet to do so. Long story short she fell behind I brought her back to court solved the issue but is now falling behind again. Is there anyway for me to get out from under this thing without it hurting my credit and me not making the payments for her? Any advice or comments would be appreciated. [link] [comments]  |
| Is my employer be committing wage theft?? Posted: 07 Nov 2021 06:59 PM PST Okay so ever since I started working on this restaurant (new restaurant that opened shortly after I was hired) I keep seeing people work there for like a day or two and then leave and never see them again. I've been working there for almost two weeks. My boss said that pay would be on Monday... Monday came by and he never mentioned anything about pay, then on Wednesday he made me fill out a W-4, and on Thursday he asked for my banking information to send me a direct deposit as payment. This was around 6:30 pm, we all left early and he told me you're getting paid tonight by deposit and it should reach your account on the same day. Then I text him my banking information as soon as I get home like 7:30 pm. I kept checking my balance all night and there was nothing deposited. On Friday morning I check my account again and still nothing was deposited. So I text my boss letting him know what's going on. He responds saying he made the direct deposit "this morning" (Friday morning). I call my bank and ask if perhaps there is a pending payment/direct deposit from my employer that's still not showing on my balance. She says no. Then Saturday comes along and I still don't see the direct deposit in my account. So I go to the nearest Citibank to speak with teller. I showed her the banking info I provided to him by text and she says it's correct but he either hasn't made a deposit or he made a mistake proving my information when depositing. On Friday morning he provided me a Pay Stub via email as "proof" that he made the deposit. The thing is the name of his business does not show up on google, and this Pay Stub has no check number. It's just blank. Should I be worried? [link] [comments]  |
| No Longer have an HSA but still have a balance - what do I do? Posted: 07 Nov 2021 10:00 AM PST Real quick - have an HSA with around $2500 in it (not much) Have a regular insurance plan now at a different company. Wondering what my options are as the monthly fee will just eat it away over time and it is $2500. Thanks [link] [comments]  |
| Posted: 07 Nov 2021 02:38 PM PST Not me, but my wife. She is a remote supervisor for a company that has nearly every employee as a remote employee across the country. This was something they did before the pandemic as well. She will be coming up on 1 year in her position in a few months. Her salary is $40k/year she is scheduled for 9 hours, 5 days a week and 5 hours every other sunday. (2,040hrs/year scheduled hours if i did the math right) that breaks down to $19.60/hr. According to ziprecruiter (reliable source?), the average remote supervisory role is $70k or $34/hr nationwide and $65k in our city according to zip. I know "they" say to ask higher than you're wanting because you never know and can negotiate down. But both of those numbers seem like stupid asks. I'd like some thoughts on what people here think is a smart ask. I think $50k is a reasonable ask but thats a whole 10k, but backing up that ask is, shes worked an entire year well well below market value for the position she is in. She loves her job and loves working from home and isnt looking to make a giant wave with too big of an ask ya know? kind of a great job to have. Anyone have any thoughts or suggestions on the matter? Thanks in advance. [link] [comments]  |
| 17 years old and looking for advice on how to invest Posted: 07 Nov 2021 06:13 PM PST 17 years old and looking for advice Recently opened up a Custodian Roth IRA and was able to save up and purchase 17 shares of VTI and currently buying another share every month. Any advice or anything i should change up/add anything helps. [link] [comments]  |
| What are the tax-advantaged strategies with a non-working spouse? Posted: 07 Nov 2021 12:52 PM PST So I work, my wife doesn't. One note for my situation is that my income is above the MAGI for Roth IRA so I would have to backdoor it. Does she also have a backdoor Roth as well so we can contribute $12,000 between the two of us for 2022? I am also looking into the mega backdoor roth for myself. Is it contradictory with the regular backdoor roth? More specifically for this thread, is there ANOTHER $61k in room from my spouse that I can also shove money into? Assume no tax laws change and all the backdoor stuff works the same as it did this year. [link] [comments]  |
| Someone crashed into my car, they want to give money in cash, need advice Posted: 07 Nov 2021 04:27 PM PST Hey, someone hit into my car yesterday, not too big, not too small. I told them I don't mind them paying out of pocket instead of going through insurance. I had a few people in my car at the time of accident and so did they. Today they called to ask if I can sign a release of liability form and if they can pay in cash. I'd rather have it digitally transferred. Is this a good situation for me or is there something I'm not seeing here? Thanks EDIT: Thanks for the advice all, I'll call their insurance and do it that way EDIT 2: Thanks for the help all, on top of going through insurance I'm also looking into what everyone said here. Ty for the advice! [link] [comments]  |
| Are there any disadvantages to being overpaid? Posted: 07 Nov 2021 05:56 PM PST I was catching up with my old boss and she mentioned you do not want to be overpaid. It flew over my head at the time and now I'm having a hard time understanding this. What's your perspective on this PF? [link] [comments]  |
| Unaware I was enrolled in life insurance for the last 8 years, never paid the premium. What do I do? Posted: 07 Nov 2021 07:55 PM PST Eight years ago, I got a job through a staffing agency and apparently they enrolled me in a Prudential term life insurance of 30 years. I didn't apply for this as I was single, young, healthy and have no need for it. The staffing agency has made numerous insurance/payroll related errors during my employment so I'm guessing this was another one of their errors. I am no longer at that company and the staffing agency no longer exists. I moved to a new apartment shortly after the hire. All of the Prudential mail went to my old address. By chance, I was recently able to pick up some of my mail from the old apartment. Apparently I have 4k worth of unpaid premiums. I never paid once since I was unaware I even had such a policy. The policy lapsed last summer. Do I have to pay this premium? What happens if I don't? What do I do? [link] [comments]  |
| Posted: 07 Nov 2021 10:59 AM PST I'm not sure if anyone can help me, but earlier this year, the company I have been working for since 2019 was sold and 90% of us were laid off. The company is headquartered in California and I worked at the home office until February 2020 when I moved to Florida and continued to work for them from home. When I was laid off, I applied for CA unemployment since that is where the company is based. The issue is that my claim only showed one month of wages, January 2020 which is the one month of 2020 that I lived in CA, so my claim amount was next to nothing. I tried calling for hours and hours but was never able to get through and ended up filing an appeal in June. I finally got my appeal hearing date which is for tomorrow. A part of me is scared that they're going to take back all of the money I received, rather than fixing my claim. Can anyone let me know if I did the right thing my applying for unemployment with CA and not FL? And should my claim have been based on all of my wages in 2020 if I worked the whole year instead of just the one month I was in CA? [link] [comments]  |
| Getting an apartment with my boyfriend Posted: 07 Nov 2021 07:28 PM PST My boyfriend (M17) and I (F17) have been thinking about trying to get an apartment together when we're both graduated. His parents are abusive and controlling and he wants out of his house as soon as possible, even if he hasn't graduated yet. In my case I am just ready to move out. I'm a senior in highschool right now and he's a junior so I'll graduate before him. I'll also add that I plan on going to a university in my city. I've looked into rent prices and you can get an apartment for around $750 in my area. We both have jobs but only make around $12/hour, and we both can work probably 20 hours a week max with school. Is it a possibility at all to be able to afford that? I have about 2k in savings right now as well. If we couldn't afford that, what I should do so I can? [link] [comments]  |
| Rent raised for new lease - will rent prices dip in Jan 2022? Posted: 07 Nov 2021 07:22 PM PST Age: 38; Salary: ~ $160K gross/TC; Apt: 550sq ft apt in new'ish building in Capitol Hill, Seattle (owned by Pillar Properties); Lease ends: Jan 15 2022. My lease is up and my rent was raised from $1,800 to a new rate of $2,088 (14 month lease). Actually, $2,088 is only IF I renew by tomorrow, otherwise new rate will be $2,142. Not happy, so I emailed manager and asked if we could negotiate this down to $1,900. She said "NO". And said "In fact, this $2,088 I'm getting is a steal for the current market". This might be true but $1,800 to $2088 is quite a jump and I'm considering moving out to a different apartment. The manager also did say I could wait and see if the market rate drops a little around January. I like this idea. Obviously the risk here is that if I wait until January and rates do NOT drop, I'll be left scrambling for an apartment or pay the crazy price to renew my lease. Que 1) What would you do in my situation? Que 2) Do you see apt rent prices dropping around Jan 2022 in the Seattle metro area? Thanks. [link] [comments]  |
| Didn't know Medicaid Ohio Laws - Too much Cash on Hand? What to do? Posted: 07 Nov 2021 07:16 PM PST Hello, My cousin started a little business that he has made $16,800 with so far. He's 20 and this is his only source of income. He is on Medicaid Ohio. In April 2021, he started making money. He made maybe $1,900? Then May made like $3,000. Then months with $0 of income and on October 17th, 2021 he got a check for $9,000. Then a check for $2,800. This equals $16,700. He hasn't reported anything because he's still under that $17,100 a year threshold.. However, he's had more than $2,000 in the bank since April, mostly because of an IRS refund for the stimulus checks and then this $9,000 check. He's sitting at $13,400 in the bank right now. Is this okay? Does he report it now even though he's still under the $17k threshold? With the Public Health Emergency Waiver in place and nobody losing Medicaid, could he risk getting in trouble or could it kind of act as a safety net since he honestly didn't know? He hasn't had any medical attention since 2020 so that's good I suppose... Any advice would be greatly appreciated! He's horrified he'll be forced to repay premiums or be prosecuted. [link] [comments]  |
| Posted: 07 Nov 2021 04:48 PM PST This morning I woke up to a fraud alert text from my bank for $1200 at Samsclub.com I immediately replied no to confirm it was not me then called my bank while checking my account. I notice the charge was pending along with another $300 order. Under normal circumstances, it would never have gone through, they just caught me at the right time... For them. The bank is handling it on their end, cancelled my card, issued and expedited a new card, and will be refunding me that money as soon as it is out of pending status. I contacted Sam's Club a couple hours later when they opened. They were informed of the fraud activity on my account, said they released that email from my account and sent me a link to recreate my account. I recreated my account, went to log back in tonight and my account is suddenly gone again!!! I get on chat with support and the other email was listed on my account again (I used a completely different password that has never been used on any of my stuff, ever!) I got that taken care of, again. Right after I noticed I had gotten another email from Sam's informing me of my incident number for the fraud orders and telling me they cannot be cancelled because it's too late, along with "We are attempting to stop the delivery of the item, and if the delivery is stopped, then a full refund will be issued to the card that was charged." After this, I got FIVE emails of items being shipped out!! Soooooo glad my bank has my back on this one because I absolutely cannot afford that loss, but I am still fuming right now about all of it... It was bad enough this morning but getting kicked out of the account for my membership a second time, the incident email, and more "you items shipped" emails pushed me up to this point. [link] [comments]  |
| Do i have any options for a car loan? Posted: 07 Nov 2021 06:58 PM PST First off, appologies for the formating. Im(29m) looking to get a car loan. Wasnt ever taught about this kind of stuff growing up as a kid. Figure better late then never but im bot sure how to go about getting one. My credit score is 538, i have no credit cards, or loans of any kind. i have a hard mark from usaa when i tried to get a loan on the app recently. I have a closed credit card account i stopped paying off in 2017, and 4 closed school loan accounts i opened back in 2013. Ive heard leasing is typically cheaper, ive also heard about using a credit union. Any advice would help. Thank you [link] [comments]  |
| Posted: 07 Nov 2021 06:41 PM PST Our apartment has not been up to what was advertised but it was one of those moved across there country, video tour situations and crossing our fingers didn't really help. Not cockroaches bad but don't have hot water when we want it all the time bad. Especially in the evenings. It's been a steady stream of maintenance requests from me and they ended up crediting us$200 the first month we were here, or saying they would at least. They ended up not charging us anything. I called several times and left messages asking how to pay since it showed we owed nothing, the bf has several emails where they ignore him asking about the rent and confirm giving a200$ credit. This is now the second month we have not been charged but they still show as holding a deposit and a $200 credit. What would you do? [link] [comments]  |
| My fiancé is his mother’s conservator and she has medical debt. Posted: 07 Nov 2021 06:20 PM PST Like the title says, my fiancé is his mother's conservator. His Aunt has been handling the finances (she's also a conservator) however he will be taking over soon as she is aging and no longer wants the responsibility. His mom has medical debts prior to the conservatorship as well as a trust that was established after the conservatorship was created. The trust was created with the sale of her home as she now lives in a supportive living facility. The medical debts are not being paid because her trust is essentially a small emergency fund and covers some essentials beyond what her SSDI can cover. Overall she's been in a conservatorship for about 10 years and there haven't been any hiccups but my fiancé is the type of person to address issues as they arise whereas I like to confirm that no issues exist! She has medical debt in at least 2 states (Montana and Washington) and I think both have forgiveness periods. Would there be a way for us to track down her debts and determine their status or could that lead to more trouble? I know I can't provide enough detail here to get solid advice but I'm wondering if there are any resources or services we could look into? I doubt a financial planner would know enough about this to help. I'd like to know what implications this could have on us or if it would be wise to have a pre-nup in this situation. [link] [comments]  |
| Posted: 07 Nov 2021 06:17 PM PST Posting here because r/stocks won't let me...I checked my Ameritrade account and all of my positions were -100% when they were in the green on market close Friday. Does anyone know why this would be the case? Thanks to all who help! [link] [comments]  |
| Posted: 07 Nov 2021 07:46 AM PST https://www.irs.gov/retirement-plans/plan-participant-employee/2022-ira-contribution-and-deduction-limits-effect-of-modified-agi-on-deductible-contributions-if-you-are-covered-by-a-retirement-plan-at-work From the above link there is an income limit for deductions. In anticipation of any possible change to backdoor Roth IRA I wanted to see what I would do with that 6k if I didn't do a backdoor. Traditional IRA seems like a viable choice but if you make too much money yo deduct then you are essentially getting taxed going in, tax free while growing and taxed going out. That's because you put in after tax money (since you can't deduct the contributions), it is allowed to grow tax free, then it is taxed going out. Seems the only benefit of traditional IRA then would be the tax free growth. However if you're a buy and hold index investor then the tax free growth is basically negated, you can't even tax loss harvest, and with a investment account your gains are taxed at long term capital gains and not at marginal tax bracket like with traditional IRA going out. So as a high earner I don't get very many benefits from a traditional IRA and it may even be advantageous to just put the 6k into a taxable investment account. Please let me know if my thoughts are incorrect on this. [link] [comments]  |
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