Personal Finance I’m supposed to get a $7k bonus, but I just got another job offer that I accepted. |
- I’m supposed to get a $7k bonus, but I just got another job offer that I accepted.
- My Roth IRA did not grow since last year
- Switched from W-2 to 1099 employee. Flabbergasted at how high my taxes will be.
- Sean John job offer scam
- How to send money anonymously
- Father had stroke - Parents need to move to a new home before selling current home
- How do I purchase an expensive house from a family member?
- Sell Home vs. Remodel Home
- Debt Collector Charging 200% Fee- California
- I’m 20 years old and don’t even have savings.
- Miserable in my current job, and I have a tentative offer for a $20k pay cut. Should I take it?
- Should I continue with what I am doing with my Roth IRA?
- Need some advice about renting. I'm stressing out here.
- Saving for a house vs maxing 401k
- Having a child made me even more obsessed with working hard and money/investments.
- Should I move from my parents house at 25
- Chilly? Those $17 plastic window wraps are ridiculously helpful.
- Can my dad take loan out in my name without my permission if we have accounts together?
- Help me with the psychology of budgeting
- Selling a lot of crafts on Facebook. How to deal with taxes. Missouri.
- Need advice with buying a car (US)
| I’m supposed to get a $7k bonus, but I just got another job offer that I accepted. Posted: 21 Dec 2021 08:35 PM PST Hello, As the title states, I had my yearly review this past Friday and the owners of the company gave me a $7k bonus which will be paid this Thursday. Should I wait a couple of days after the bonus to give my notice or can I do it the same day? I received a job offer for 35% more pay, a $10k guaranteed bonus, amazing benefits and a flexible schedule. My start date is January 17th and I was hoping I could take off a week or more since I haven't taken a single day off since March and I will need to buy a car and do some other things. I'm afraid that if I give notice the same day they will try to screw me over, but I also don't want to wait too long to give notice otherwise I won't be able to take the week off. [link] [comments] |
| My Roth IRA did not grow since last year Posted: 21 Dec 2021 07:47 AM PST Last year I took Reddits advice on contributing to a Roth IRA. I don't know if I should do it this year since I'm down about 20 dollars right now. At one point I was up 200. Should I just believe in the process and contribute another 6k in 2022? My portfolio is currently most aggressive, 63% foreign stock, 36% domestic.I picked FZLIX, SPAXX,VTI, VXUS... I'm 27. Thanks for all the information guys, I'll contribute to US index funds for 2022. [link] [comments] |
| Switched from W-2 to 1099 employee. Flabbergasted at how high my taxes will be. Posted: 21 Dec 2021 07:22 AM PST So my job switched from W-2 to 1099. Private security through a contracted employer and the place I work at switched companies so I came to the new one. They're somehow getting away with treating us as 1099 employees which I think is a fucking joke but it's whatever. So on paper, we make more per hour right. I mean it was $16.50/hr. now it's $18. But I looked into this shit and basically I pay for ALL the SS and Medicare. Together those are nearly 18% of my income. So let's say I grab $40k/year. 18% is fucken $6800. Wtf. I can't pay that much money ffs. I don't live "paycheck to paycheck" per se but no way can I afford to pay $6800/year to the IRS. Should I just try to find another W-2 job? Edit since I can't make a new comment: I posted a little while ago about switching classification. For the past 6 years, I worked as W-2 for a private security company where they assign us to various clients. I worked at one client almost exclusively for 6 years. The client got a new security company and asked me to change. I did and then found out the new company is 1099, not W2. Other people told me this is miss-classification. I just sent an email to the Texas Workforce Commission to see what they can do. I wear the company uniform and everything and am 90% sure this 1099 classification is bs But I'm not holding my breath. I just got an email from my employer informing me basically they are refusing to fill out paperwork I need to reduce a hospital bill. So I'm out. Fuck this company. So my next question is wtf can I do for income? I only have experience in security and it's a job I hate. Most of my coworkers are dumbasses who think they're cops. They talk in idiotic cop lingo and have literally 0 idea about proper use of force, handcuffing laws, etc. The industry itself is a fucken joke but I've put up with it because it was an easy, chill job. But I'm 27-years-old and need to actually sit down and look at my future. I have no real trade skills. No real interests. I have a 2-year degree from a community college that is 1 algebra class away from completion. But I don't want to do anything with CJ. I have poor social skills from being homeschooled and socially isolated. I like to just be left alone at work. Currently I just do my chill 8 - 4 security job, go home, and get drunk while playing XBox. It's been a really good deal but it's time to move on. I can't stand on my feet all day because of a prior foot injury. I don't like bullshit hours; don't routinely schedule me for over 40/week. I did Target for a month as a teen -- FUCK retail work. Also I don't object to manual labor per se but I don't wanna do a job that will wear on my body over time. I.e. construction. I'm sitting here watching some dude in his 40's digging a rut at my job. I mean digging by hand with a shovel. His back's definitely gonna be shit in about 10 years. I have 0 idea where to go from here. Even making $16.50/hr., there were times where I went flat broke. Edit 2: Guys I keep seeing comments like "Dude you basically OWN YOUR OWN BUSINESS! Why do you want to change that?? You can work all the hours you want now!" I'll put it to you straight: I'm not willing to put in more effort for more money. I'm no longer 19-years-old and willing to work 7 days a week. Pay me enough to afford an apartment, upkeep on a car, bills, beer after work, and contribute to my benefits (health insurance, SS, etc.) and I'm happy. I'm not with this 1099 shit. DON'T work me over 40 hours/week and if you do, PAY ME TIME AND A HALF. I'm a big believer in worker's rights. I see so many people being exploited and it fucking sickens me that they don't know they're entitled to more. [link] [comments] |
| Posted: 21 Dec 2021 11:02 AM PST Recently I got a job offer by email with an opportunity to interview with the HR person on ICQ. I was asked to download the app and then contact the HR person through it whose name was Martha something (I'm sure they change it each time). When I did I have to say they really did their home work it was an artist job in the fashion industry and I had extensive experience in this field. The red flags came when they wanted to send me a check to buy the equipment I will need from their "vendor" before I even been given a formal job offer letter to sign and before I had even actually seen someone (even on video) or actually talked to them. Also when you go to the help section on ICQ part of it is in Russian. Then they mentioned I needed a software that I know is not used in the industry any longer. 'Their URGENCY about depositing the check to buy the stuff was the real red flag though. I said I didn't feel comfortable doing that and then things ended there. The sad take away is that this sort of scam is so enticing when you need work and the fact that people are so evil to be scamming people who are having problems making ends meet. Luckily I did a little research and cut them off. But everyone should know if the people contacting you are using general email address (gmail, yahoo, etc.) or if they are asking you to deposit any checks to buy ANYTHING. Your being scammed. Be careful out there. [link] [comments] |
| Posted: 21 Dec 2021 10:14 PM PST I don't know if this is the right place to ask, but here it is. I have a friend who is struggling. I'd like to send her some money for Christmas, but I think it would be awkward and she might feel the need to reciprocate. Any ideas on how I could send it without her knowing where it came from, and so she won't think it's a scam and throw it away? We live in different states, also. Not a lot, a few hundred dollars. [link] [comments] |
| Father had stroke - Parents need to move to a new home before selling current home Posted: 21 Dec 2021 08:08 AM PST My father, 68, (who was the sole breadwinner in the family) had a stroke in August, leaving him severely disabled and my mom (67) wants to sell the current house to downsize as they don't need the space anymore and likely can't afford the mortgage payments. Here's their financial details:
Now, they essentially need to move before we can prep our new house for sale, as showing the home with my disabled father would be a huge hassle, and the home needs to be deep cleaned. Here are our questions:
This is all very new territory for us, so any help would be greatly appreciated! [link] [comments] |
| How do I purchase an expensive house from a family member? Posted: 21 Dec 2021 01:51 PM PST A family member is building a house for us that is coming in at about 1.5 million. They were planning on selling it to us for 1 million but I'm trying to figure out the best way to structure it tax wise? I know there's something about tapping into a lifetime gift tax that I want to make sure that we avoid if possible? The house should be done sometime next year and at that point we'll sell the house we're in now and buy that one. I've thought about having this family member gift my husband and I 60,000 this year, 62,000 next year and 60,000 ish for the next several years to pay the house down to 1 million unless someone has a better option... Just for a little background we make about $200,000 a year and We live in a house worth about a 1,000,000 dollars with about $150,000 left on our loan. We have about $100,000 in cash. We don't have any debt or car loans etc and (if it matters) we have about 400,000 between our 401k, IRAs, stocks, etc I also own part of an LLC that on some rentals and that is worth $180,000. My husband's credit is a little over 800 and mine is a little below 800. Can we get approved for a 1.5 million house? Also, does anyone have any insight on how we might structure this arrangement better? [link] [comments] |
| Posted: 21 Dec 2021 05:25 PM PST I'm in the ridiculously expensive bay area and bought a house about 10 years ago for cheap $600k. Worth $1.5m probably now. I want to move to a home with that's a little more finished, with a little more room. The homes I like are in the $2m to $2.5m range unfortunately. Mid 40s, household income variable ($300k to $350k). Have about 1.8m in liquid assets. I've begun the process of drafting remodel plans to add some square footage but now I'm wondering if selling and moving might be better. This will result in higher mortgage (currently $1.5k) and property taxes. I'm suspecting the remodel cost will be about $400k but who knows these days. I like the area I'm in. What should I do? EDIT: Remodel would expand kitchen from current narrow setup (expansion eats a bathroom), adds new bathroom to replace eaten one, adds 1 bedroom, expands an existing bedroom to master suite with walk-in closet, and bath. 3/2 to a 4/3 with about 450 sq. ft added. Expanding out, not up. [link] [comments] |
| Debt Collector Charging 200% Fee- California Posted: 21 Dec 2021 03:37 PM PST I recently fell 3 months behind on my HOA payment. When I called HOA management Co. to pay my balance of $400 I was told I had been sent to collections. I called them same day and was told that I must pay $1,200 to settle my bill. $400 for HOA and $800 in flat rate fees to the collection agency. They have owned my account for 2 weeks and have mailed me one letter. They refuse to negotiate the terms, and even if I make partial payments, they charge $45 per "partial payment transaction". Therefore, even $100 payments will only pay down the balance by $55. Is this legal? According to my brief Google search, fees are determined between the collection agency and the HOA. Am I allowed to ask for a copy of their contract? What happens if I pay the HOA balance but not the fees? I am prepared to my HOA balance and understand the "fairness" of paying a fee to the collection agency. But a 200% markup feels criminal. Suggestions? Thank you! [link] [comments] |
| I’m 20 years old and don’t even have savings. Posted: 21 Dec 2021 02:28 PM PST I got kicked out when I was 17 and I'd like to feel that I've come a long way. Graduated high school, got my own apartment then eventually moved into a house with my friends, got myself a car (with high apr and need to refinance but dealership fucked up my credit with hard inquiries) which is nice and I got myself my own bed pay for my own room and where I sleep, for all my groceries subscriptions, utilities you name it. Full blow adult mode heck yeah man. But I have no savings… I live paycheck to paycheck, having a anxiety attack every time I spend money on food cuz I beat myself up for spending money even tho I make decent pay. I make like 1,900 a month but I feel like that's not enough or I'm doing bad. Idk how to explain it. I feel behind. Am I the only one that feels this way? [link] [comments] |
| Miserable in my current job, and I have a tentative offer for a $20k pay cut. Should I take it? Posted: 21 Dec 2021 10:11 AM PST Hello everyone. I am seeking advice on how to navigate a tentative job offer that comes with a pay cut and whether or not I can afford it. Will keep the details limited for personal reasons, but I'll include accurate numbers as best I can (below). I've been working (8 months) as a mid-level advisor in a laboratory at a very remote worksite (~60 mins to walmart - my only shopping option). Because of the remoteness and high demand for qualified work, I am (in my opinion) overpaid given the cost of living. I relocated 27 hours across 6 states for this job, but I absolutely despise it. It's secure, has a great insurance plan, 401(k) match and paid holidays, but is absolutely a dead end job. The area I live in is incredibly poverty stricken, the climate is unbearable 10 out of 12 months, and I'm genuinely unhappy in all aspects of my personal and professional life. I have mornings off, which I use to field interviews for new jobs. I've had some good luck finding something back in one of my favourite home states (significant move, but worth every hour) and hope to hear back with an offer after the holiday break. Despite being a better role for me, it is most likely going to come with a pay decrease. Not that it is underpaid work, but I simply make more than I probably should in my current role. The new job is in a infinitely better area, the position is much more in line with what I want to do and has more growth potential. But, according to other employees I should be expecting a salary in the realm of $55,000. A $20k net decrease. Not only that, but it will definitely come with a cost of living increase, so a lot less cash at the end of the month. Maybe I could squeeze $5k more out, but regardless its going to be significantly less. I'll post my financial situation below, but my question is simple: can I afford this pay cut? I live well below my means, haven't eaten out since well before the pandemic, and have been feverishly been paying off my student loans due to my low cost of living (am on track to pay them off in ~12 months in this current role). I just don't know how to factor my personal happiness into the equation. I know I can mathematically afford it, but doing so would take up a lot of the free cash flow I've been using to fund retirement and student loan repayment. So, do you think the pay cut worth is it? About Me: 26M/Single/MS in STEM
Tl;DR I make $75,000 a year in a miserable job in a miserable location. I am expecting a job offer for a much more interesting job in a nicer area that only pays $55,000. Is the pay cut worth the lifestyle & mental improvement? [link] [comments] |
| Should I continue with what I am doing with my Roth IRA? Posted: 21 Dec 2021 05:17 PM PST I have a Roth IRA with Fidelity, maxed out for 2 years. As we approach the new year, I am wondering if I should invest in a different fund. Currently I have my $12000 in FDKVX which is the Freedom Retirement Fund 2060 (anticipated retirement date). It's allocated as 45% domestic, 44% international, 6% bonds, 4% short-term, and 1% other. I don't know if it's better to have 2 or put all my eggs in that basket, I'm a bit of a noob at this. If I should, what should I be looking at? [link] [comments] |
| Need some advice about renting. I'm stressing out here. Posted: 21 Dec 2021 11:06 AM PST Hey all, So I'm moving to Seattle for my new job in February. I know rent is supposed to be 30% of your gross pay but my gross pay is $6,800/month but my net is just a little over $4,100 after taxes. I have a hold on an apartment that's going for $1,702/month after all is said and done and now I'm worrying that it's not the right move for me. I want to be able to live by myself and be comfortable like I have been for years but the city and everywhere surrounding is so damn expensive. Does anyone have any advice on this or thoughts? I would highly appreciate the help as I don't really have any finance-savvy people in my life. Thank you! [link] [comments] |
| Saving for a house vs maxing 401k Posted: 21 Dec 2021 04:09 PM PST I am currently 26 with a wife and young child. I make $100k annually with nominal (non-retirement) savings of $1k per month after expenses. Wife is stay at home so we live off my income solely. We are currently renting a townhome for about $1700 per month. Given our growing family, we would like save for a down-payment to buy a house in the next 2 years. We currently have $15k saved for the house and about $70k across our retirement accounts. I currently max out 401k contributions at $1600 per month. I am thinking about cutting 401k savings by $1k a month to increase house savings rate to $2k per month. This would allow us to hit our down-payment goal by the end of year two. Does this seem like a rational plan given our current retirement savings? [link] [comments] |
| Having a child made me even more obsessed with working hard and money/investments. Posted: 21 Dec 2021 08:19 PM PST I've always been good with saving and being smart with my money but having a kid made me absolutely obsessed with financials. Anyone else this way? I'm starting to annoy myself with it. [link] [comments] |
| Should I move from my parents house at 25 Posted: 21 Dec 2021 11:26 PM PST Im about to become 26 next year, im working as a software dev from home [link] [comments] |
| Chilly? Those $17 plastic window wraps are ridiculously helpful. Posted: 20 Dec 2021 06:35 AM PST We just moved into a new place and I couldn't even hold my hands outside the covers at night, I was so cold. It didn't matter what temperature we had the thermostat at either, there was always a cold draft. So I bought a 10 window box and figured I'd just do a few rooms. My boyfriend was skeptical because.... Well, it's like saran wrap. And looks tacky. Fair. But holy crap, the place is downright balmy now. We did every room. Turned the thermostat down to 65 for the night and I actually got TOO WARM. When I'm cold at home I have a hard time doing other stuff, work, hobbies, whatever. I hope this helps someone cozy up their house this winter and lower their heating bills. Edit: this is what I bought, I think they're all probably pretty similar. Covered 5 standard double hung windows with a little left over, I assume they're counting each pane as 1. [link] [comments] |
| Can my dad take loan out in my name without my permission if we have accounts together? Posted: 21 Dec 2021 02:48 PM PST My dad thinks me buying his house when he dies is the best possible thing even though it's not that great of a deal he opened up a bunch of accounts with both our names on it banking banking saving and checking I'm terrified hes gonna take a loan out and my name for the house or something else without my permission One day I seen a letter from the bank about taking out a loan in my name I don't know if it was an offer from the bank or what I had to hurry to work I just want to know is there any way he could take out a loan in my name? I'm trying to sneak around and find out if my name is on any loans but don't know what bank to check? I was mentally ill my whole childhood and first half of adulthood he made me sign stuff that he said would help me build credit but wouldn't let me read it. I'm afraid when he dies there going to come after me and don't know what to do also If I was mentally ill would that void it out I've got proof of hospitalization and the fact he might of coerced me to sign something like that if I did [link] [comments] |
| Help me with the psychology of budgeting Posted: 21 Dec 2021 08:30 PM PST I (25y/o) make 2.25x more than I did 3 months ago. I also moved out of my apartment and live with my wife's parents now so our monthly savings have increased ~30%. Even though our financial situation is (maybe) better than our peers and I have nothing to worry about, I still obsess over every purchase and the exact numbers. I have my own Excel budgeting sheet where I track every single purchase and try to keep my total purchases under the same number each month. If we go $100 over budget I feel like I've failed. I feel we spend too much so I'm always trying to think of ways to save more money, despite the fact that we pocket over half of our monthly income and have 0 debt. How do some of you go about the psychology of budgeting? How do you find the balance of accounting for your finances while not becoming completely obsessed? This is starting to eat too much of my personal time and is making me stressed. But I don't want to become negligent. [link] [comments] |
| Selling a lot of crafts on Facebook. How to deal with taxes. Missouri. Posted: 21 Dec 2021 04:19 PM PST In Missouri. My wife and I both have full time jobs. We recently started selling crafts on Facebook marketplace. We just started at the end of November and are on track to have about $10,000 in sales by the end of the year. We will have spend about $2400 in materials in that time. How does this work for taxes? Our money spent on the business is deducted so we pay taxes on $7600? As for next year, it seems like it would be wise to prepay taxes quarterly. I did notice that it says there's a fine if you underpay though. How can I make sure I don't aim too low? I'm a bit lost on all of it and don't want any surprises [link] [comments] |
| Need advice with buying a car (US) Posted: 21 Dec 2021 10:08 PM PST I'm a recent college graduate who is starting work in mid-January. I'm moving to Houston and will likely need a car to live (commute to work, groceries, social life, etc). I suppose not having a car COULD work if I commute with bus, use Uber/Lyft, deliver groceries.. but my social life would suffer greatly and it would suck to not be able to go out on my own terms. My monthly income would be about $2300 after taxes are deducted and my rent utilities included is about $700. I have about $16k saved, but I obviously plan on not using them all in buying a car. The main problem is that I will only have an income for 1 or maybe 2 years. I plan on going to medical school so I won't have an income then for about 4 years. How much should I look to spend on a car? How do I purchase a car these days with chip shortage? What kind of car should I buy? I just want something that will reliably get me from place A to B with functional A/C (Houston gets really really hot). I really don't know anything about cars so any advice will be greatly appreciated. Thank you so much. Edit: I've been trying to look at used cars, but I'm unsure if I can find a car around $5k that would be reliable and cause me headaches with expensive repairs.. Should I lease? [link] [comments] |
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