Personal Finance Medically needed MRI: $3000 on a $500 a month premium plan. Wow. |
- Medically needed MRI: $3000 on a $500 a month premium plan. Wow.
- My medical bills are too expensive and I don’t qualify for Medicaid. I’m currently spending more than I make. What can I do?
- How would you tackle this debt repayment? (pic and description below)
- I'm 16 and have to take on the real world alone very soon, so I need as much advice as possible.
- Mom wants to cash out 401k
- Teen looking to work BUT... I could destroy my whole family's Medicaid?
- Job offer advice
- I need help with retirement plans
- I've been super frugal my whole life, suddenly getting $45,000 a year. What should I make sure to do now?
- Refinance to payoff debt and shorten mortgage
- Where should I start my Roth IRA?
- First-time home buyer, does the math work here?
- Gym Membership Requiring Checking Acct Info-Any Loopholes?
- Mortgage Alternatives to 10% Down in HCOL Area
- Question about my dad adding myself as beneficiary to his stock.
- Is the standard safe investing strategy to just put everything into some index funds?
- Company deposited "Espp maturity" but then immediately deducted and charged entire deposit in taxes
| Medically needed MRI: $3000 on a $500 a month premium plan. Wow. Posted: 01 Dec 2021 06:32 PM PST Been paying $500 a month for this ppo plan, and it has a 3k deductable. I make too much to qualify for financial assistance. I have brain problems, and need 2 MRIs, they called me and said it'd be the whole $3000 deductable. Yikes. I would save quite a bit flying to Cancun and getting it done there. So what's the point in me even having health insurance, exactly? Any suggestions on how to avoid flying to Cancun here? Update: I think I found a solution. I can enroll in new health coverage starting January 1st, choose an HMO with a $800 deductible. I'm assuming they will still honor the referall, but instead of a $3000 deductible, now it'll be $800. Premium is the same for changing from PPO to HMO (same facility where I got the referral). [link] [comments] |
| Posted: 01 Dec 2021 02:29 PM PST I have complex medical needs and there's also a shortage of doctors taking patients here. After exhausting a list of in network providers, I found two providers within a 30 mile radius willing to treat me - but they're both out of network. I tried very hard to get in network care, but was removed from waitlists due to my needs being too great and was flat out told it was too complex. It's bad enough where I need to see one provider weekly and another provider biweekly to stabilize me. My medical bills are $500/month and I make $15/hour, so after rent + utilities, I'm spending more than my monthly income. I've looked into the following:
I'm at a loss of what else to do. It took me so long to find the doctors I have, and now that I did, I can't afford them. [link] [comments] |
| How would you tackle this debt repayment? (pic and description below) Posted: 01 Dec 2021 05:39 PM PST Ignore the very first Capital One, that's down to less than 30% as of now, and the actual limit is 1500. I can take out up to 4K against my portfolio at 2%, with no payback schedule or monthly payments. I was going to try it out first with maybe 1100, and pay off the remaining Cap1, and the Citibank and Amex, then put the rest against Home Depot. That would cut out 3 payments and replace it with 1 that I can pay back whenever at my leisure. I don't want to max it out to the 4K because Home Depot is on an 18month no interest plan, and even though its Citi they backcharge you the interest if its not paid off in time, Synchrony style (honestly thought that would be above them but I guess not), so I was going to hold it in reserve until then. And yes, I know people will say "What are you doing investing when you have debt yadda yadda", I turned both 3K in stocks into 12K and $300 worth of BTC into $5,500 since Aug of 2019. I'm not interested in selling anything at the moment but I don't mind borrowing against it. Would you go with the "pay off the smaller cards then hit the big ones", the "Pay off the biggest ones then tackles the little ones" or "Get everything under 30% and get a consolidation offer"? Not even 3 months ago I was getting letters and offers on creditkarma for 10K at 3-7%, which I should have taken. But now with a move and a house purchase and a few other things, I'm kinda not where I'd like to be. Also my account age is killing me, I don't even have an average of 2 years yet. [link] [comments] |
| I'm 16 and have to take on the real world alone very soon, so I need as much advice as possible. Posted: 01 Dec 2021 07:27 PM PST My mother died 2 years ago and my father died earlier this year. I dropped out of high school due to his death, and ended up getting my GED. I am now going to attend my local community college for two years just to pass the time until I turn 18. Since I had to cut high school short and don't have anyone else to teach me, I've decided to come here and ask for the best and most necessary financial advice as a young person fresh to the real world. My parents were poor and I really don't want to end up like them. Some major questions I have are: When should I start working a job? What should I do with money I make? How should I go about loans for college and a car or something? P.S. For some more info, I am living with my sister currently and she receives the majority of my survivors benefits because she already has two kids and doesn't make a ton of money, so I basically have no income at the moment. Thanks in advance. [link] [comments] |
| Posted: 01 Dec 2021 05:59 PM PST Mom is in her mid 40s and wants to cash out 401k, about 30k, to add a small studio to her house she can rent out, she estimates for about $500 a month. I am trying to convince her it is a bad idea. She seems to be set on going this route and I told her its probably better to take out a small mortgage on her house since it is paid for but she does not want to take out any debt as shes burned out from working which is why she is trying to get a secondary income. I was thinking of offering to take on the mortgage and I could get a percentage ownership on the house for when it is sold but I am saving for a downpayment for my first home and in hcol area so I am not sure if it is a good idea. Is me taking the mortgage a bad idea? Any suggestions or advice are appreciated, thanks! [link] [comments] |
| Teen looking to work BUT... I could destroy my whole family's Medicaid? Posted: 01 Dec 2021 05:12 PM PST So... I just turned 16 and am very eager for a job. I don't get much opportunities to make money irl :( and right now have only $2 and 50 cents (I know ~ I'm rolling in dough). However, because I'm very close to finishing school and getting ready for college in two years, I just now realized how important money is and why I should probably be saving up some instead of frolicking in the fields. I talked to my mother about getting a job either during this month or next year, but she heavily argued that I shouldn't because if I were to, the added income from me could make the whole house ineligible for Medicaid (NY). I started digging into this and found that as long as my income stays below the threshold limit for tax filing, I theoretically should be good and won't effect my family's Medicaid as my income won't count into the household income... right? For more context; I live in NYS, my house consists of 7 people, two of which who work. Individually making $24,000 and about $40,000 annually, which is $64,000 a year. I searched it up and we're actually slightly above the income limit for a seven people household but my mom did say that Medicaid substantially lessened our benefits but still kept us insured. Oh! And also, is this legal? Purposely having a low income to avoid filing taxes and therefore avoiding Medicaid counting it. I don't want to talk my employer and explain why I want to have a lower income than they offered just to be met with "I'm sorry son, but I have to report you to the IRS." PLEASE!!! Help me out, I literally have no one else to go to and it's very sad I know but... wait no it's just sad. Also I'm very new to the financial world, so very huge chance I messed up some stuff I typed, and there could be more to this than I thought. I'd very much appreciate it if you help me through this and answer my questions. Thank you. Respectfully, I am in tears, [link] [comments] |
| Posted: 01 Dec 2021 06:21 PM PST I currently make $150k in a MCOL city. My wife is a SAHM, and we have two young kids. We're generally quite satisfied with our situation - debt free except for house, saving 25% for retirement, saving 5% for the kids college, and our mortgage is 25% of take-home. With all of this said, I have been feeling a little undervalued at work. I took a temporary COVID paycut last year, and only got a 1% CoL adjustment this year. They have been talking about restructuring my pay, but I'm guessing it will only be a bump to $165k or so. I recently got an offer for an identical job in another MCOL city with a salary of $200k and signing bonus of $10k. $200k is their first offer, so I actually think that I could talk them up to maybe $210k. I would much prefer to stay put than move my family, almost to the point of declining and not bringing it up with my current employer. With that said, replacing me would be close to impossible, so I'm willing to bet that I could leverage this offer for a reasonable raise at my current job, maybe $200k, but more likely $185 or $190k. I know that people say you shouldn't accept counter offers from your current employer... but my gut tells me that it might work out. Any advice? Perhaps one of these: A. You're comfortable and mostly happy, so don't risk it. B. Decline the offer, but bring it up as a soft ask for market adjustment C. Bring it up asking to match, ambiguous as to whether I'm willing to move D. Family be damned, follow the money and take the offer This is over simplifying, but you get the idea. [link] [comments] |
| I need help with retirement plans Posted: 01 Dec 2021 04:56 PM PST Hello, I am desperate for any advises about retirement plans. I graduated college about half year ago, and after working for 6 months, I finally have the chance to enroll retirement plans. But I have no clue which plans to choose or which would benefit me. Background: -My salary is $60,000 per year -My company says that they can match up to 4% -I'm in early 20s. -I don't have any heavy money spending hobbies -I am relatively frugal person, so I don't mind high contributions People say that I should prioritize roth more than traditional 401k and that I should put as much money as possible. Does that mean I should put 32.5% ($19,500) on roth? If that's the case, I don't need to setup any annual automatic contribution increase, is that right? Any advises are welcome. Thank you so much in advance [link] [comments] |
| Posted: 01 Dec 2021 02:59 PM PST $15000 in savings, $600 rent, Toyota from 2013. For a while I was taking a lot of odd jobs, living with many roomates, making between $15,000 and $20,000 a year. I have an apartment with one roommate now. Besides a better mattress, better food, putting $5000 in ROTH to match company, what should I do? A little lost here. [link] [comments] |
| Refinance to payoff debt and shorten mortgage Posted: 01 Dec 2021 04:27 PM PST Hi, I am currently considering to refinance my home to payoff my outstanding loans, while also going from a 30 year to a 15. I believe my math makes sense, but just wanted some opinions as well. Home Value: $265,000 Current Balance: $160,000 Current Loans (monthly payment/interest rate/balance/payoff date) Loan 1 - $358 / 1.9% / $7700 / 9.4.2023 Loan 2 - $401 / 6.34% / $23740 / 11.7.2027 Loan 3 - $181 / 8.19% / $7694 / 1.7.2026 Total loan payments monthly: $940 Total loans balance: $39,134 Current Mortgage - 30 Year Fixed Outstanding Principal: $160,939 Interest Rate: 3.375% Monthly Payment: $873 Refinance Mortgage- 15 Year Fixed - 40k Cash out 2.75 rate, 2.974 APR Points: .747 Closing Costs: $4,146 (will be rolled into mortgage, all I have to give is a $500 deposit that is then used as a credit) Payment: $1395 Total with escrow: $1,625 (I entered wrong numbers on chase, might be closer to $1535) Current Monthly Bills: $1813 New Monthly Bill: $1625 (or $1535) Savings: $188 ($278) and 15 Years of mortgage Does this seem like a smart move? [link] [comments] |
| Where should I start my Roth IRA? Posted: 01 Dec 2021 04:22 PM PST Hi Everyone. I recently started my first job in my field after graduating from university and have been learning about investing for retirement. I've been contributing 9% to my 401K (my company matches up to 4%), but I want to get started with my Roth as well. I want to split 4% into my 401K and 6% into a Roth IRA. Here's my question; Fidelity manages my 401K through my employer. Should I begin to contribute to post tax through my company as well? Or should I manage my Roth IRA on another brokerage separate from my employer? [link] [comments] |
| First-time home buyer, does the math work here? Posted: 01 Dec 2021 05:44 PM PST Looking for advice as my brother is trying to buy a home for the first time. My brother is interested to buy a house because he wants to move out and also help our dad. He currently is 22 years old making $38,000 a year. Has about $11,000 in savings. The house he wants to buy costs around $175,000. He is only putting 3% on the down payment. The realtor is trying to haggle the seller of the house down to around $160,000 as of the house as some cosmetic issues and has been on the market for a couple of months. Would this be a wise choice to make? Also, we are home shopping in the Pittsburgh area, particularly around the Squirrel Hill area. [link] [comments] |
| Gym Membership Requiring Checking Acct Info-Any Loopholes? Posted: 01 Dec 2021 04:40 PM PST I've recently moved to a new area and found a gym that checks my boxes. I tried to sign up with just a credit card but they require that I provide my bank and credit card info. Based on reviews of this company, this is a common concern but likely a big part of their business model and how they're able to offer low fees. Obviously, this is concerning to me to the point where I'm considering paying almost 4x the fees at another gym. I remember reading about some ways around this this type of thing in which you can provide some information masquerading as your bank info, but will only authorize with the account holder's permission. Am I mis-remembering this? Are there any ways I could get around this requirement? [link] [comments] |
| Mortgage Alternatives to 10% Down in HCOL Area Posted: 01 Dec 2021 06:13 PM PST Just finished paying off my student loans this year and am now looking to purchase my first home. I live in an extremely HCOL area, so even with a 1+ hour commute, it looks like I'll be spending around $1M minimum for a 3/2 in a safe neighborhood with decent schools (size is pretty non-negotiable; wife+kid+home office). Spoke with a loan rep last week and anything over $800k means at least 10% down. I have been prioritizing being debt-free since graduating a few years back (didn't think I would want to buy a home anytime soon so did things like buying a new car outright instead of financing (having a kid during COVID shifted priorities)); as such, my new house fund is only currently around $60k. With my current spending habits, I should at least double that by the start of 2023, but in the meantime, another year of paying my current $5800/month in non-equity building rent is feeling more and more like throwing away money. Any creative alternatives to the 10% down? Not from a wealthy background so no family loans, unfortunately. Realistically will probably have to wait until 2023, but just want to make sure I'm not missing some reasonable source of extended bridge financing. [link] [comments] |
| Question about my dad adding myself as beneficiary to his stock. Posted: 01 Dec 2021 07:39 PM PST I am new to anything having to due with stock/ living wills. My mom just recently passed, and my dad is changing things concerning who inherits what when he passes. He has a Revocable Living Trust, and wants to leave me all his stock when he passes. It's worth about $150,000. My dad's accountant is saying they can just put my actual name as the beneficiary, but the person who set up his Revocable Living Trust says to put the beneficiary on the stock under the name of the trust itself, not my name. Can someone elaborate on the difference between these 2 options? What makes more sense? Or, why it matters? Any information is greatly appreciated. [link] [comments] |
| Is the standard safe investing strategy to just put everything into some index funds? Posted: 01 Dec 2021 05:55 PM PST Should I even bother with things like gold or bonds or crypto or house flipping or NFTs if I just want to play it safe? Should I bother with managed funds or etfs? Should I just dump everything into the S&P500? I also see multiple S&P500 indices, is there really any difference? I have neither the time, skill, nor energy to get into entrepreneurship, house renting, or any other side hustles. Also I'm literally prohibited from day trading, not that I'd want to do it. [link] [comments] |
| Company deposited "Espp maturity" but then immediately deducted and charged entire deposit in taxes Posted: 01 Dec 2021 06:49 PM PST My partner signed up for her company's Employee Stock Purchase Plan and we're very confused about what's going on with it. She received in her paycheck a deposit labeled "Espp maturity" along with her regular salary for her hours worked. However on the same pay stub, the same amount is deducted and labeled also as "Espp maturity". We're confused because there's no explanation as to why it came and went; more importantly looking at the pay stub, it is counted as taxable income. Any idea what's going on with this? Why would the employer deposit it and then deduct it within the same paycheck? It was larger than the deposit for hours worked, and after tax is now resulting in a net pay of $0 for this pay stub Edit: to clarify The plan involved her investing over a 6 month period. At the end of the period she completed the plan and received the shares at a discount. This charge arrived the next paycheck after she received the shares. She has not yet sold her shares [link] [comments] |
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