Personal Finance Quitting a job after a week |
- Quitting a job after a week
- 70K in cash, what to do with it. Reddit vs my FA vs my thougts
- Apartment Lease has Lapsed, Account Still Being Withdrawn
- I make more than I ever have in the past what do I do with this excess?
- Can we afford this house?
- Buying a house on a single income - Advice
- Child tax fraud
- Chase Fraud Dept didn’t resolve our issue during the 60 day period and now they say there’s nothing they can do.
- short-term vs long-term capital gains tax for multiple purchases of same asset in a brokerage account?
- Roth for my Mother in her early 40's
- Im confused with student loan interest
- Dad isn't getting his salary. Urgent help needed!
- Put wrong billing address but order was completed - should I be worried?
- Budgeting for impulsive person earning min wage
- ELI5 ad valorem?
- Stopping recurring charges on Chase Visa? Will switching cards stop it and save 15 year credit history?
- Home Affordability
- What to do in a collapsing economy?
- merchant contact me after CC chargeback
- 23 years old 20k student loans 16k cash, and lost in life. Can you help?
- Roth IRA contribution but now I'll be over income limit!
- Planning advice
- If I regularly work 50 hours can I still use paid sick time?
- I'm confused about inherited retirement account distribution rules
- House Sale Capital Gains Involving A Divorce
| Posted: 24 Nov 2021 11:23 AM PST I had been applying to jobs recently and accepted an offer last week. I start next week. However, a job I had previously applied to got back to me and is offering me about 20% more compensation and it's in an industry that I'd like to create a career in. What are the downsides to quitting a week into a new job? Will it have long-term repercussions for my career? For context, I would be employed in California. [link] [comments] |
| 70K in cash, what to do with it. Reddit vs my FA vs my thougts Posted: 24 Nov 2021 01:59 PM PST I have 70K in cash, and making close to zero interest. 51 years old, and already maxed out my 2021 IRA and HSA. 66K remaining on mortgage (3.25% interest rate). Inspired by a previous post here, I thought it would be wise to invest 10K in Series I bonds (7.12% interest) this year, and 10K in 2022 (before the interest rates go down in April). Save 20K for emergency fund, hold 7K for 2022 IRA, hold 2K for 2022 HSA, and put 20K vs mortgage (just because I'm very inspired to pay off the mortgage). I'm already contributing 25% to my company's 401K (5% match). Thoughts from the Reddit experts? My FA suggested holding the cash, and "iBonds are too complicated, and I'd rather have the money ready to go into stocks than stuck in an iBond" Thank you! [link] [comments] |
| Apartment Lease has Lapsed, Account Still Being Withdrawn Posted: 24 Nov 2021 12:46 PM PST I've been dealing with a former apartment withdrawing money from my account and claiming I am delinquent but I have no lease with them and I gave them 2 months notice of non-renewal prior to my former 6month lease expiring. They managed to get $1200 out of my account and just found out they are after $1500 but I managed to withdraw my account before they could touch it.The only information I'm able to get is that my account with them is delinquent. This is in Colorado and I have not lived there since March and am currently in CA. I don't have the money to spare to just forget about this. I am trying to close that bank account to prevent any other future headaches but I have a claim open for that $1200 that's holding it up but I am doing everything I can to stop it. I wanted to come here to see if there are any other steps I should worry about. If I keep avoiding them, will they send this to collections? Will declined transactions overdraw my account and cost me an NSF fee? I am currently in CA and am going to look for a lawyer ASAP but the few places I've contacted are asking me to call back after the holidays. Is there anything else I should worry about? [link] [comments] |
| I make more than I ever have in the past what do I do with this excess? Posted: 24 Nov 2021 04:50 PM PST I have a job that gives me $800 of extra wiggle room a month now. I just don't know what to do with it and I don't want to spend it pointlessly. [link] [comments] |
| Posted: 24 Nov 2021 08:41 AM PST My wife and I (no kids yet)are looking to buy a 717k house in the US. We are planning to put down ~18% down. Including the P&I, property taxes, insurance, PMI our monthly payment comes to 4200$. Our monthly take home pay is around 14k. I keep seeing the 25% of take home is the ideal. Would it be wise to spend close to 30% of our income on this house? Please advise. Edit: the only other debt we have now is a 300$/mo car payment [link] [comments] |
| Buying a house on a single income - Advice Posted: 24 Nov 2021 04:32 PM PST Redditors who bought a home with a single income, what advice would you give to a young person looking to do the same in the next 5 years? What were some of the steps you took or wish you would've taken? [link] [comments] |
| Posted: 24 Nov 2021 04:20 PM PST Turbo tax says my child was already claimed on someone else's taxes. It was neither me or his dad and we were letting his dad claim him. I've gotten experian family plan and tripple a free protection. Nobody seems to be able to help and wherever I request his credit report it denys me. I dont know the easiest route to go about this or if there is one. But if there is could you please let me know. His fathers taxes are very late. Also his dad is absent from his life now so its kinda hard to work with him considering he insinuates I stole his taxes somehow. Any help is appreciated. [link] [comments] |
| Posted: 24 Nov 2021 06:20 AM PST Without getting too into the weeds, Hertz incorrectly charged us $2,675 at the end of a car rental. Not realizing what it was at the time, we said it was a fraudulent charge. This was in July. We've been in communication with Chase and Hertz the whole time, getting the run around to different depts including fraud. This past week we spoke to someone who said that the 60 day period has expired and they can't do anything about it anymore. Are we really SOL? We did what we were suppose to do, but now are we stuck with a $2000+ bill right before the holidays because Chase and Hertz couldn't get their act together? Or is there someone else we can talk to about this? EDIT: Thanks for the help so far! Sounds like I boofed up by claiming that last charge was fraudulent, and I should be talking to Hertz once Chase decides it was valid. For a little more background—we picked up a rental in Chattanooga to drive to North Carolina for a wedding. We were then going to return it in ATL where we would then fly home. On the way to the wedding, we got a flat. Hertz told they would send a tow truck to take it to Knoxville where we could get a new car. Because that would have taken upwards of 8 hours of a short trip, we decided to just return the car then and catch a with a friend to ATL. Hertz said that was fine and they would cut our agreement one day short. Once we got back home, however, we kept getting charged late fees because Hertz in ATL never got the car back. Clearly Knoxville Hertz didn't tell ATL Hertz they had the car (or something to that effect). I even got a call from an Atlanta PD detective about the missing car. After a few weeks of back and forth with Hertz, it seemed that the issue was resolved. Another couple of weeks go by and I get a notification the $2,675 charge. Chase asked me if this was fraudulent and I said yes. Big mistake, because apparently it was another incorrect late fee from Hertz, meaning it was technically valid from Chase's point of view. By saying it was fraudulent though, I forced Chase to put a stop-pay on that, meaning Hertz could no longer just refund the payment and has to wait for Chase to confirm it's valid or not. So basically, from what I understand, that $2,675 is in purgatory while it waits for a decision about who should refund. [link] [comments] |
| Posted: 24 Nov 2021 04:06 PM PST I have a Fidelity brokerage account and am planning on purchasing the SPY exchange-traded fund. Suppose I make multiple such purchases at different times. When I go to sell, if it's within a year of the most recent purchase, what determines whether I'm taxed at the short-term versus long-term rate? For example, suppose I purchase 50 shares on December 1, 2021, 50 more shares on June 1, 2022, and then sell 25 shares on December 2, 2022 (assuming a higher share price than on both purchase dates). Will I be taxed at the (more favorable) long-term rate? Suppose it were 75 shares that I sell on December 2, 2022. Would I be taxed at the long-term rate for 50 shares and the short-term rate for 25 shares? [link] [comments] |
| Roth for my Mother in her early 40's Posted: 24 Nov 2021 05:53 PM PST Hello, Recently my mother has been asking about my Roth IRA and wanting to start one herself, I'll be talking to her about it in a few days, it seems she's finally getting serious about setting aside for retirement. Her incomes not the best, roughly 30k a year(I think?), what's the best advice or direction I can give her for building up a retirement plan? [link] [comments] |
| Im confused with student loan interest Posted: 24 Nov 2021 03:48 PM PST So lucky to have this covid-19 loan freeze to help figure out certain knowledge especially since im building my wealth at a very young age. So I have an unsubsidized loan of 2,000.00 dollars and the interest rate is 3.73 So I know I can pay it off. But im very confused about interest rates. So does the interest go up daily? Or does it go up if you haven't pay on it at all. (Like you have made any monthly payments?) [link] [comments] |
| Dad isn't getting his salary. Urgent help needed! Posted: 24 Nov 2021 08:53 PM PST My dad works in the Indian coast guard. He was apparently getting an extra salary of 5000 INR per month for several years which has now accumulated to 5,50,000 INR in total. Now to account for the extra money he was given, his salary is being cut. He hasn't received his salary in 3 months and won't recieve it until 5,50,500 INR has been paid off. That's another 6 months. Our family is burning through our savings. We can't sustain ourselves for 6 more months. Is there anything we can do? Because getting zero salary for 9 months is ridiculous. I have no idea what to do. I don't know anything about legal stuff in india. [link] [comments] |
| Put wrong billing address but order was completed - should I be worried? Posted: 24 Nov 2021 05:28 PM PST Sorry if this is the wrong place to ask, not really sure where to put this question. I just placed an order online for something but realized afterwards that I put the wrong billing address. I noticed that the money for the order was already taken out of my account - does this mean that the order went through? Does the billing address matter? [link] [comments] |
| Budgeting for impulsive person earning min wage Posted: 24 Nov 2021 05:25 PM PST Trying to help an ADHD young adult earning minimum wage understand the basics of budgeting. I think my young friend would do well with an app or a bank that has some budgeting app linked to their checking acct. Current expenses are a car loan, 14k @ 5.1% for 6 years, and related insurance and taxes. The goal here is to start saving to move out of parents house, learn some financial discipline and get this car loan down. I read the FAQ and think the info is great but won't match the person in question. Any quick tips out there? [link] [comments] |
| Posted: 24 Nov 2021 06:33 PM PST Can someone please explain what ad valorem tax is for GA in the context of car sales? Specifically- 1) Do I pay this if I buy a new car in GA? 2) Do I pay this if I sell my used car to a dealership in GA? 3) If I'm moving to another state in July, do I pay their sales tax to title the new car in addition to the ad valorem sales tax in GA when I buy it (before I move)? Thank you [link] [comments] |
| Posted: 24 Nov 2021 11:37 AM PST Long story short, I gave a family member a card from my account with their name on it, authorized user, they set up some monthly reoccurring charges, Vonage, Apple and monthly toothbrush deliveries. I canceled their card, but since Chase doesn't issue unique numbers to authorize users like AMEX, charges are still coming in. I called Chase and they said there's not much they can do, I have to work with the vendors to stop the monthly charges... Which I can't do because I don't have access to those accounts that the reoccurring billing has been set up on. They offered to change the number on the card and I went through that but the charges are still coming in to my account. I've had this Chase credit card for better part of decade and a half and I wouldn't like to lose whatever credit history I have as it's one of my oldest cards, if I have Chase cancel the account and go to a different type of card will my credit history with Chase still show the 15 years? Can you recommend any other avenue I can take to try to stop these reoccurring charges and not lose my 15-year credit history on that card. [link] [comments] |
| Posted: 24 Nov 2021 06:16 PM PST My wife and I (2 kids) under 30 are looking at getting into a long term home with 30 year mortgage rates still around 2.6% in my area. We make 105kish/year which is well above average money for our area of the US (Midwest). Our only other debt is a vehicle payment ($380/mo). We have very stable jobs and should see some tailwinds with our income in the next few years. For retirement after company match we contribute 15k/year to retirement. After our current mortgage, taxes, fixed expenses and childcare we net about $2500/mo on avg. We are looking at a house that costs $380k and we will be putting down 50k with another $15k saved up for emergencies. Our current mortgage is $1600/mo and this new home would be $1952/mo. It would be a house we can live in for 20+ years as it meets all our current and future needs with no plans for leaving the area. We are near the common rule of thumb to not exceed 30% of net income on housing but we want to lock in the rates and jump on a house we can live a long time in. Other tailwinds are my oldest child being out of daycare next fall which is $900/mo we won't be devoting to that. The house is in good shape and doesn't need any major repairs or fixes done for the foreseeable future. Any thoughts on this? I like to think of myself personal finance minded even though this is pushing the envelope a bit. Am I being too risky? [link] [comments] |
| What to do in a collapsing economy? Posted: 23 Nov 2021 07:44 PM PST Hi friends, I live in Turkey and our economy is on the steep fall. Our currency has lost two third of its value in the last 3 years. Inflation is officially 20%, unofficially 50% and will keep rising sharply. I plan to keep buying dollars with my savings to protect my purchasing power to a degree. Although dollar inflation is another fact, it's safer than Turkish lira. People are considering getting credits from bank (with %25 annual interest), buying dollars with it and when it rises then can cover the credit while also making a profit. But I don't know much about what else I can do? I'm trying to learn stock market in some of my free times but it will take a while until I consider myself adequate in that topic. I'm open to any videos, books, suggestions on what to do on a collapsing economy. Thanks. [link] [comments] |
| merchant contact me after CC chargeback Posted: 24 Nov 2021 01:42 PM PST Had a fun time dealing with a return/dispute for the past 2 months for this ebike I bought that almost killed me right after purchasing. was suppose to be like new and the battery just fell apart. This was an international sale. Anyways after paypal didn't help me with facilitating a return I called my credit card for a chargeback. They returned the full 3k back to me after providing all the info and photos, within 5 weeks. I check my email and see a paypal money request for 1.5k and an email from the seller. I'm beyond exhausted dealing with this, I haven't even opened the email because I don't want to mentally acknowledge this situation again as it was stressful enough having this thing on my mind for the past almost 2 months. I don't really know what my question is but I just want to confirm, that I guess the merchant isnt able to provide their proof for the chargeback claim, and now is messaging me for half the money back. I spent thousands on the repair for this junk afterwards, so I have no sympathy money to spare. [link] [comments] |
| 23 years old 20k student loans 16k cash, and lost in life. Can you help? Posted: 24 Nov 2021 07:37 PM PST Hi all, I'm lost because I've been following personal finance from 18-23 and i have nothung to show for it Ive aso bought my dad a work van cash from that money to bring it down from 22k cash. Also got screwed out of 2k of rent money by a roommate Ive just graduated college in may and i make 70k while working at home (started in July). I have no gaming system, no outdoor toys, no past travels, nothing. I would more money but Ive sacrficed working to get a big certification after buying the van. Currently i live at home with parents and save about 2k a month. I dont know what to do right now because i will be marrying my gf soon and pay for all that jazz. I drive an old beater and operate on a laptop that will give out soon. I want to buy a mountain bike for 700 or 1k and/or get a gaming system. But, i always worry that im spending too much money or have too much money to spend coming up. So i have 2 question: 1) Where should i be at my age??? 2) When and how do i start enjoying life? [link] [comments] |
| Roth IRA contribution but now I'll be over income limit! Posted: 24 Nov 2021 05:40 PM PST I'm 31 married filing jointly. I contributed $6000 to my Roth IRA in January 2021. I didn't realize until now November that I will probably be over the $208,000 MAGI limit by the end of the year. To avoid the massive 6% penalty per year (forever?) I decided to do a characterization to a Traditional IRA. Then I will work on getting that money converted backdoor to my Roth IRA. (That would be the smart thing to do to pay less taxes overall right?). Now I'm in another (good) problem because my Roth IRA made about a 100% gain YTD! If I'm understanding the process correctly I'm just going to have to eat the huge tax bill for not doing the backdoor roth to begin with? Does it matter what funds I choose (short term/long term capital gains) to characterize and convert that could help me save taxes? It seems unfair that these are all unrealized capital gains yet I will be taxed at my normal income bracket. Thank you in advance! [link] [comments] |
| Posted: 24 Nov 2021 06:58 PM PST I have 13k in loans currently at a 20% interest rate. Earlier this year, I refinanced my loan to combine my car loan and credit card debt into a personal loan, but I feel like there's a better option out there. Here are my thoughts, not sure if all are viable options: 1) get 0% APR CC to pay off loan balance 2) call lender and ask for reduction in interest with a refinance 3) call lender and see if I can negotiate a lower loan balance if I do a payoff. So maybe suggest an 8k loan payoff to clear the loan vs the full 13k 4) shop for another personal loan to pay off existing Credit is not the best but better since the beginning of the year. Thoughts? [link] [comments] |
| If I regularly work 50 hours can I still use paid sick time? Posted: 24 Nov 2021 09:00 PM PST So I usually work 50 hours in a week. I called off the other day and requested to use some of my paid sick time. Being as my budget calls for me to work 50 hour weeks. No changes have been made to my hours yet. Before I bring this up to management is there any rules on using your sick time when you usually get paid overtime? Or will they not let me use it because I'm accumulating 10 hours of overtime with it. I live in Arizona if that helps. [link] [comments] |
| I'm confused about inherited retirement account distribution rules Posted: 24 Nov 2021 04:00 PM PST Example scenario: Let's say a parent (grandparent, aunt/uncle, etc.) passes away and leaves you (younger than 59.5) $500k in a traditional 401k. Apologies in advance for dumb questions.
Thank you for all the help. [link] [comments] |
| House Sale Capital Gains Involving A Divorce Posted: 24 Nov 2021 08:51 PM PST Numbers rounded for more simplicity: House purchased for ~$500K in 2003. Three years ago, ~$350K was spent on a significant remodel. Preparing for sale of house, ~$50K was spent for remaining prep work for selling. Assume ~$400K in the last three years. We have receipts for this (although I rounded and it may be a little lower). House was sold as a married couple for ~$2M Divorce will be finalized before end of 2021. Due to agreed upon asset division, the proceeds have been disbursed. Just thinking of my taxes, assuming my proceeds of the sale (after paying balance of mortgage, commissions, fees, excise tax, etc...) was $700K. We will be filing individually. From reading different sites on how capital gains works, I'd get a $250K exemption (individual filer), and then reduction of any capital improvements. However, I'm assuming this would be split in half between the two of us (so $200K on each side?). Thus bringing my exemption up to $450K total? Now, is the gain considered on the total sales price and not the proceeds of cash that I actually received? The unrealized portion, after sale, was ~$200K. If so, how is that calculated, since it wasn't quite a 50/50 split of the proceeds. Or is it off just my proceeds, which would be: $700K-$250K(exemption)-$200K(split of improvements)= $250K that would be taxed? If not, what's the math and what is the rate of tax on the amount? I also saw mention of in-kind property purchase. Because the market is currently nuts where I live (Pacific NW), I don't have another property at this time. And it's the slow season, so the chances are that I probably won't find anything within the 45 days (to identify) or 180 days (to close once identified). I thought it used to be a 2-year thing, but I'm guessing that changed a few years ago with the new tax plan. Or am I missing something altogether, since the money from the sale of the house is the proceeds of a divorce? Just trying to make some sense of this as I plan for taxes in the next few months. [link] [comments] |
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