Personal Finance Employer never set up 401k, but my contributions were deducted, how much interest did I lose out on 2021? |
- Employer never set up 401k, but my contributions were deducted, how much interest did I lose out on 2021?
- Trying to get out of poverty
- First attempt at salary negotiation, worried I may have messed it up
- Am I crazy to turn down this salary?
- I only have 50 dollars to my name and am in desperate need of advice
- I keep getting excuses for receiving pitiful raises. How do I breach this subject as raises approach this year?
- Hit with fraud for $11,350+ an hour ago. Compromised 3 bank accounts
- First time homeowner trying to sell
- Is my Dad making the correct decision?
- Company refusing to pay for bonus hours I worked
- I received a sizeable life insurance check a few months ago.
- Mortgage Application Lost by Title Company
- if my employer deducts taxes from every paycheck, why do we still need to pay income tax?
- Take job with pay cut?
- Airline delayed my arrival by over 24 hours, luggage delayed, items missing from luggage when it finally arrived. Advice?
- where to invest money when you cannot buy stocks?
- My credit is terrible
- My apartment heater's temperature regulator stopped working while I was away for Christmas for a week, so it ran the entire time
- My Venmo was hacked, now I have the hackers money
- Additional Principal vs Dividend Investing
- Years of missed FBARs — accidentally willful?
- I want to put my money into vanguard and forget about it and not have to manage it. What are the best options?
- Do I add FICA tax to total federal withholding?
- Are there income MINIMUMs to contribute to a Roth IRA?
- Can I cash a settlement check at the bank it's drawn on or do I need to deposit it?
| Posted: 13 Jan 2022 07:22 AM PST Wow. Thank you to everyone who upvoted and commented with advice! I truly appreciate the help! I'll post an update with the resolution. *Correction, they set up a Simple IRA, and I meant earnings, not interest. The CFO of my company was fired recently, and after she left it was found out she never set up my Simple IRA. The contributions were coming out of my check every 2 weeks, but they never went into my Fidelity account. (Yes, I had tried to get an answer on where my funds were going for a year, she assured me it was set up but was having trouble getting the info with covid, etc., then went on maternity leave, etc. Basically just lying for months.) My employer wants to make it right, but I want to check that my calculations are correct. Is there a way to determine how much in earnings were lost for the year based on my contributions and the 3% they were to match? My salary is variable as I have a base + commissions. Obviously the market did very well 2021, and I feel they owe me an average of the market return. Anyone have a formula to calculate the lost earnings? EDIT: Thanks for the advice everyone! I'm requesting the CPA they hired do the calculations and provide me with the information on what I lost out on. EDIT 2: You all sound 100x smarter than I am. This is all very confusing and upsetting. If anyone is a whiz and wants a challenge, here are my payroll deductions and dates. 😬 They have deposited a total of ~$3800 into my IRA account since 12/15/21. * It would have been going to FSKAX in Fidelity had I had the chance to choose the allocation. They match up to 3% of my salary. My 2021 Wages were $69,341. They opened the account with $1000 and made these deposits last month: Opened account with beginning balance of $1000 on 12/31/21. 12/31 $588.20 12/31 $588.20 12/17 $249.90 12/17 $249.90 12/15 $536.85 12/15 $536.85 My payroll deductions: 11/20/2020 $60.00 12/4/2020 $64.70 12/18/2020 $60.90 12/31/2020 $64.30 1/15/2021 $95.76 1/29/2021 $63.58 2/12/2021 $64.50 2/26/2021 $64.45 3/12/2021 $64.50 3/26/2021 $72.80 4/9/2021 $71.61 4/23/2021 $89.03 5/7/2021 $122.66 5/21/2021 $87.96 6/4/2021 $105.08 6/18/2021 $60.51 7/2/2021 $105.27 7/16/2021 $61.75 7/30/2021 $61.59 8/13/2021 $70.88 8/27/2021 $61.93 9/10/2021 $64.50 9/24/2021 $103.67 10/8/2021 $99.97 10/22/2021 $83.73 11/5/2021 $76.92 11/19/2021 $90.67 12/3/2021 $69.93 12/17/2021 $99.19 12/31/2021 $67.79 [link] [comments] |
| Posted: 13 Jan 2022 03:28 PM PST My family is very poor and I was never taught how to properly handle money. I am 24 years old, just saved up 6 grand and moved to SoCal in search for a better life. Now that I am here in SoCal most of that money is gone and I'm back to working/saving. I work 40 hours a week for $15 an hour. My credit is considered Poor because I have had some health issues in the past. I want to do something to improve my credit and one day I would like to have a house or car of my own. What are some things that I can do to improve my financial situation? I don't really have any family or friends that can give financial advice [link] [comments] |
| First attempt at salary negotiation, worried I may have messed it up Posted: 13 Jan 2022 07:31 PM PST Hi all, I have anxiety and I am nervous about how I just tried to negotiate salary for a job. Basically, I have ~2 years of experience, and their initial offer was about 10% below what I was hoping for. So, on a call with HR today, I said "given my experience, education, and skills, my market value is actually 10-20% higher. However, I understand that there may be constraints, so I'm happy to work together to find a number that works for both of us". The HR person then let me know that they did account for my experience, but that she would "check if there was any more wiggle room" and that "it never hurts to ask". I thanked her and we moved on with the conversation. This seems like a positive response to me, but man I am soooo afraid I might lose the offer now. Should I be worried?? I've never negotiated my salary before so I'm nervous! [link] [comments] |
| Am I crazy to turn down this salary? Posted: 13 Jan 2022 07:45 PM PST I (27F) was approached with a new opportunity in my field of work (same position). The offer they gave me is a base salary of 105,000 plus 6-8% yearly bonus. In my current role, my base salary is 70,000 plus commission. Commission floats between 1-2k per month depending on recognized revenue. I really like the role I'm in right now, I like my coworkers and I truly believe in the company's services and mission. The new role would not only be substantially more money, but it also comes with a much better "senior" level title. I had no plans at all to leave, and I've only been at my current company for a year. They (current role) originally recruited me to build out a new team at the company but it hasn't quite panned out the way they had "sold" it to me a year ago. I am a team of one, and I really don't want to leave them high and dry. I am also not crazy about the prospect of taking on all the labor that comes with starting a new job, but I can't get past the salary. I would like to buy a house someday soon, and I can't help but think about how much more quickly I could get there with the big pay jump. Thoughts? Am I off my rocker to consider turning it down? Edit: you guys are the best. Thank you so much for the advice. [link] [comments] |
| I only have 50 dollars to my name and am in desperate need of advice Posted: 13 Jan 2022 01:57 PM PST I am completely screwed and I need financial advice. This month has been awful, my partner of 3 years left me, which caused me to spiral and miss 2 days of work at Starbucks. Now they've put me on a leave of absence until I provide medical documentation stating I'm mentally okay to go back to work. I have the appointment tomorrow and am hoping to get back to work as soon as possible. On top of all this I lost my wallet. I've already called to get them replaced and the fee for my drivers license is 35 dollars. I've been living pay check to pay check and have school mixed in there. I literally only have 50 dollars and can't afford the metered parking on campus (located downtown of a large city). Before my partner dropped me off so that wasn't a concern. My monthly rent plus other expenses is 1150, which isn't split with my partner anymore. I've maxed out my student credit card to its 1000 dollar limit. What can I do. I won't be able to come up with the money on time, can't even get to college, and can't work at the moment. I tried applying for another credit card but got rejected. I have no family or friends that can help, and am looking around for things to sell. I have enough food for another week or a little longer if I stretch it out. I feel completely and utterly hopeless. I know that this wouldn't be a big deal if my previous financial decisions were sound. Any advice at all is greatly appreciated. [link] [comments] |
| Posted: 13 Jan 2022 10:16 PM PST I have been with my company for 4 years. For the first 3, I have had GREAT performance reviews and they keep telling me "I wanted to give you more, but you make so much more than everyone else, we had to try to bridge that gap." With raises approaching in the next couple of months, how do I explain to my boss that I'm expecting more this year? [link] [comments] |
| Hit with fraud for $11,350+ an hour ago. Compromised 3 bank accounts Posted: 13 Jan 2022 12:48 PM PST Edit 5hrs later: Update at the bottom. Edit TLDR #2: The lady who called me posing as my bank's fraud department WAS THE CRIMINAL! TLDR 1 (original) ; 2 checking accounts, 1 savings account and my debit card was compromised today by a fraudster for the sum of $11,350+. What would you do next? A little over an hour ago, my bank's fraud department called me 3 times in a short time span while I was at work (still am) asking if I approved a $350.XX charge at a Target store, via a POS physically at the store location in a completely different time zone than I'm sitting in today. Checked with my wife, we both said no, and that's when the fun started. While I was on hold with the bank fraud representative, news came in that after the initial $350.XX charge was caught, the fraudsters then proceeded to somehow get a hold of my other accounts, and started moving money around followed by a bank transfer out. They moved $3,000 from 2 different Checking accounts (all at this same bank) and flooded it into my Savings account, before withdrawing $11,000 total to a person called Zakiya Hemingway as the beneficiary of the transfer. F.u.c.k you, Zakiya. My bank is monitoring the situation. They performed the following steps:
My bank is gently suggesting I change one of the checking accounts that had money transferred to savings from, which is where I paused their action for now. Reason being, this particular targeted checking accounts is solely dedicated 100% to bills only. If the acct number changes, then I will have to go to about 2 dozen billers and change the way my bills are auto paid. Big pain in the ass, which I'm prepared to do if the Fraud department suggests later that account is actually compromised. For now they're not sure yet how the transfers were made and the 3 accounts were made known. So - I've had the last hour or so to think about this instead of focus on my work. A few questions:
Edit 5hrs later : Ok...here's a messed up update that has me trusting absolutely no one. I bank at USAA, and their general number is 1-800-531-8722. The original 3 phone calls from their "fraud department" was from the same exact number. I have the 1-800-531-8722 number saved in my contacts as USAA, so I saw USAA calling me 3 times, and I picked up on their 3rd call thinking it was an emergency. The transcript goes something like this:
Ok you get the idea of how they pretended to be USAA and got my info. Fast forward about 3 hours and I called the Fraud line directly, to ask for an update because when I logged into the account I see the money is now gone, no longer pending. So I called USAA back and this is how the next transcript goes....
I can't trust anyone. This is mind-blowing. [link] [comments] |
| First time homeowner trying to sell Posted: 13 Jan 2022 04:13 AM PST So my wife and I are wanting to sell our house. Our neighbors know some people who want to pay cash, I'll be calling them soon to talk. What are some questions I should ask? Also what are the pro's and con's to doing personal sale by owner versus a realtor? I'm sorry for the question being broad, I just don't know what to do and it's stressful. Any help is greatly appreciated! Edit: wow thank you everyone so much, I was not expecting this much help and direction. I appreciate everyone's insight. We are going to speak with some realtors about their fees and see what we can negotiate and go from there. I won't be able to reply to everyone, but I hope you all have a great year! [link] [comments] |
| Is my Dad making the correct decision? Posted: 13 Jan 2022 08:09 PM PST My Dad is 72 and planning to continue to work for at least another few years. Since he's always primarily worked for himself, and other factors, he doesn't have any sort of retirement fund besides social security. Besides the house that him and my stepmom reside in, he also owns a 3 story building that I and two roommates live in. It's a large residential building that's great for us as we're all in our mid to late 20's. My Dad considers this building essentially his retirement fund. The issue is that it was built back in (I believe) the late 1800's. Due to that, as you can probably guess, it has its issues and will likely continue to. The first floor is my Dad's "office" but it's essentially just used as a mailing address. He'd like to eventually rent this space as a law office (which was its initial purpose) but some of the walls and ceilings have slight water damage, the carpet needs to be replaced, and it's just generally cluttered with junk. The second and third floor is an apartment with a kitchen, living room, and 3 bedrooms. The main issues are all the windows need to be completely replaced, on a few occasions we've had water drip from a couple different spots of the ceiling, and I believe a small portion of the electrical wiring is still knob and tube. We currently pay my Dad $1,000 a month which basically just covers the mortgage but he'd like to rent the apartment to real tenants and would probably be able to charge $1,200-1,400 a month. We always had issues with the radiators and heat, the radiator in the kitchen and in one of the bedrooms have not worked for the past few years. This week, all of the radiators on the 2nd and 3rd floor stopped working and have no heat. My Dad has owned this building for 30+ years and initially bought it for $60k. He has refinanced it since and believes he owes about $60k on a mortgage around $180k-190k. His plan has always been to take out a loan and put in around $50k ($75k tops) of work into the building, then take out a new 30 yr mortgage to cover the loan and what he still owes on it ($60k on mortgage + $50k in repairs for around a $115k mortgage), and then separately rent out the office space and apartment and use that as his monthly retirement money. Now with the heat in the apartment having stopped working, the best option he's being given is to setup a whole new heating system and he's being quoted $30k both for a new boiler and radiators or a mini split system. I've floated the idea of just selling the building (probably sell for somewhere between $150-200k) and putting the after tax profit (should be at least $50k after taxes) into a newer house/apartment/condo that he could rent out immediately without all of the current and sure to be future repairs/maintenance (I don't see him actually fixing the building up for at least another 5 yrs). He's convinced with the capital gains taxes and higher mortgage that this wouldn't be worth it. Thoughts/Advice? [link] [comments] |
| Company refusing to pay for bonus hours I worked Posted: 14 Jan 2022 02:51 AM PST I'm just wondering if this seems strange to anyone else. I'm a nurse and make around $30/h. I regularly pick up bonus shifts that range anywhere from $55-130/h depending on the department need. I picked up 12 hours at $130/h one day, worked it and missed the following 2 days due to being out sick. My manager is now saying that I won't get paid the bonus rate for the shift I worked because I missed the next 2 days. Apparently there's a policy that states employees cannot sign up for bonuses if they have used PTO for any shift of the same week, which is what my sick hours were. Just seems odd to me since I signed up and worked the bonus shift prior to knowing I would be sick and have to use PTO. Anyone have recommendations going forward or a similar experience? [link] [comments] |
| I received a sizeable life insurance check a few months ago. Posted: 13 Jan 2022 06:55 PM PST It's a little under a quarter million. What the hell do I do with it? I'm 22, work as a bottom totem pole legal assistant pulling ~2400/mo , riding the moms house wave still and she only asks 200/mo rent. Owe about 17k on a car. Payments and insurance 735/mo. Not going to school. Thinking about paying off the car to save money on the interest. My brother also received the same amount and also has no clue what to do with it. We put them in money market accounts when we got them months ago and haven't touched them since. What would you guys do if you were in my situation? Any advice on growth? [link] [comments] |
| Mortgage Application Lost by Title Company Posted: 13 Jan 2022 11:37 PM PST Sooo.. my mortgage application/documents have been lost by my title company and conveniently enough, I'm having fraudulent charges made to my bank accounts now. Now all my info is out there.. full name, DOB, SSN, bank account #s, new address, former address, employer, email, phone, etc. I've since frozen my credit at Equifax, TransUnion, ChexSystems, and Innovis (not Experian yet because they can't verify me...) and am contacting my banks about closing accounts. Am I missing any other steps I could do to protect myself? I am absolutely livid that the title company we used could be so irresponsible as to lose our documents. Like my whole life was printed out and now it's out there somewhere.. [link] [comments] |
| if my employer deducts taxes from every paycheck, why do we still need to pay income tax? Posted: 14 Jan 2022 01:25 AM PST And how do some people get money back on tax returns? [link] [comments] |
| Posted: 13 Jan 2022 11:13 PM PST Hey everyone. I might have an opportunity to leave my current employer for a role in a company that is far more interesting to me. The only catch, I have a senior title and the new role is mid level. So I might go from something like $110k salary to like $90k salary. But I've been pretty miserable at my job for some time and my heart is no longer in it, or the industry for that matter. Another catch, my current employer is hinting at a promotion which would bump My pay to maybe $120k+. Also another company in the same industry might give me an offer for a similar title/salary. But honestly, neither of them really excite me. I know I'm in a privileged position, but just looking for a little advice. I'm 30 and despite a paying off the last few grand of my student loan, I'm pretty financially stable. [link] [comments] |
| Posted: 13 Jan 2022 09:06 PM PST EDIT: This trip was entirely within the continental US. Over the weekend I survived an absolute nightmare of a flight. What was originally supposed to be a six hour trip with one layover turned into a 41 hour odyssey with four layovers. Multiple flights were delayed or canceled, at one point they sent off a connecting flight 20 minutes early, stranding myself and 13 other passengers who were still in the air when it left. When I finally touched down at my final destination, my luggage was nowhere to be found, and all the airline associates had all ghosted after touchdown, so I had to sit on hold for two literal hours to report my missing bag. Four days later my bag finally arrives, but one of the pockets is torn open and the contents missing, including an irreplaceable knife with a lot of sentimental value- bringing it was the entire reason I checked my bag in the first place. I'm exhausted and angry and sad and I desperately want to wash my hands of this experience, but I've been told that I might be eligible for financial compensation after all of this. What can I do? [link] [comments] |
| where to invest money when you cannot buy stocks? Posted: 13 Jan 2022 09:55 PM PST All, For legal reasons due to my work I cannot buy securities. I'm afraid of loosing the money because of the inflation. Any recommendation where go put $150k with a medium-low risk profile? [link] [comments] |
| Posted: 13 Jan 2022 06:02 PM PST I need help fixing my credit situation. To give some context; I'm 27. I was in an extremely financially, physically and emotionally abusive situation for 3 years, and I left in August of 2019. I ended up having to move back in with my dad (with a 2 year old in tow) for over a year. When I was with my daughter's father, I ended up defaulting on about 15k worth of debt because he quit his job and decided not to work. I couldn't afford any of the bills and all of my money went to rent and food. My car got repo'd, I ended up defaulting on $4k worth of credit card/personal loan debt, and I haven't been able to recover from it. I was an idiot and didn't call my creditors to ask for extensions for financial hardship, and I just pretended it didn't exist. Right now, my credit is 515; I have a decent job that pays $70-$80k (commission only). I have debt collectors calling me all of the time. My new car interest rate is 22% APR, and I can't qualify for anything at all. My fiance and I are trying to buy a house and I'm really weighing him down because my credit is so bad. The problem is that I feel so overwhelmed by the number of debts that I have that I don't know where to start. I want to start paying it back and fixing my credit, but every time I start, I end up screwing something up and making it worse. Any suggestions as to what I can do to get started? Someone I could work with? Any guidance is super appreciated. [link] [comments] |
| Posted: 13 Jan 2022 08:59 PM PST Sorry if this is the wrong sub or if this is a stupid question. My apartment has a hotel heater in the living room (no central thermostat unfortunately). The bedroom has its own heater. I set the living room heater to 60ºF while I went to my hometown for Christmas (I have plants). When I came back, the apartment was boiling. Easily high 70s, maybe even higher. I put in a maintenance request, took them maybe five or six days to check it out. Then they said they'd order a new one because it was broken. For the past two weeks I've had to manually turn it on and off every time it gets too hot or too cold. I just got my electricity bill and it's twice as much as November's bill. I know inflation's a bitch, but surely a large part of this is the broken heater. Is my landlord liable to contribute to my bill because of this? [link] [comments] |
| My Venmo was hacked, now I have the hackers money Posted: 12 Jan 2022 06:38 PM PST Back in September I received a text from Venmo saying there was a password change request. Since I hadn't made the request, I logged into my account and saw that a bunch of money was transferred into my Venmo account from some business I didn't recognize and then transferred out into my bank account. I reported the hacking to Venmo and changed all of my passwords and such. Turns out someone had hacked my account and created a business profile attached to my personal one. This fake business account then received money from a different fake account. Not sure if they had meant to transfer that money into my bank account. I asked Venmo support what to do with the money and they said to just transfer it back into my Venmo. No other instructions and no further news on where this money came from. They seem totally unconcerned as to where this money came from. Does anyone have experience with a situation like this? Is there a time limit before the money is safe to claim for myself? It has just been sitting in my Venmo for months. No one has contacted me about it. I'd feel bad if it had been a mistaken transfer from an stranger but this was definitely from a hacker who probably scammed someone else. [link] [comments] |
| Additional Principal vs Dividend Investing Posted: 13 Jan 2022 10:22 PM PST Hi all, Currently my mortgage has a balance of 550k, and it started with 600k at 4.25% 3 years ago. I have been seeing mortgage rate falling but the lowest refi rate I got is 3.25% (condo), so it didn't make sense to me to refi. However I have recently saved up 100k that can be use for either paying down the principal, or I could use it for some saver diviendend investing. Yield on SPHD is 3.7% today, but of course investment comes with risk. With the fed changing policy, I am concerned that dividend stock would see a downturn. How would you evaluate the trade off between these two options? Thanks! [link] [comments] |
| Years of missed FBARs — accidentally willful? Posted: 13 Jan 2022 10:17 PM PST Hi all, my parents and I have been in the US since 2007, and we just found out this year that we had to file FBARs, and naturally we are panicking. We are Canadian citizens and have assets totaling ~99K-100K in overseas accounts. English is my parents' second language, and so they're unclear with many US tax filing procedures and documents, instead trusting a family friend who is a CPA to file their taxes. However, our CPA is over 70 years old & quite forgetful, and she had neglected to even mention the concept of an FBAR to us. We didn't even have any foreign account info on any of our taxes except for one year, which was triggered due to our interest being above a certain threshold. My concern is that for whatever reason in the Schedule B section on the one 1040 tax form, our CPA marked "YES" for us having overseas accounts, but marked "NO" for needing to report an FBAR, when we clearly did need to report since our assets are >10K. My parents trusted our CPA to file correctly, and between their English reading comprehension and lack of knowledge on what an FBAR is, they signed the tax return. I'm freaking out because now it seems like they've intentionally lied and misrepresented their foreign accounts, which makes them "willful" in their non-compliance. The fines for willful non-compliance are 50% of each year unreported.. so hundreds of thousands in penalties. Does anyone have any experience in this area or would know what to do moving forward? Edit: we are already working with a tax attorney, who was the first one to identify this issue [link] [comments] |
| Posted: 13 Jan 2022 03:53 PM PST I recently got some money from a part time job sitting in a savings account and would like to put it somewhere into vanguard and not have to manage it at all. My life is still being planned out at this point (Freshman in college and will transfer midway to a different school), I'd like to have minimal risk so I can take the money out if worst comes to worst, but I also still want a decent overall gain better than a savings account or anything that can keep up with inflation or beat it. New to all this, so explanations would be great! Thanks! [link] [comments] |
| Do I add FICA tax to total federal withholding? Posted: 14 Jan 2022 02:02 AM PST I'm trying to use a tax refund estimator to get an idea of what my return will be. I'm just using my last paystub of 2021 to fill it out. On my paystub I have two sections, one for federal withholding taxes and another for FICA. The refund calculator is asking for my total federal withholdings, do I add the two sections together or just use the federal withholding taxes? Sorry if it's a dumb question, thanks in advance! [link] [comments] |
| Are there income MINIMUMs to contribute to a Roth IRA? Posted: 13 Jan 2022 06:17 PM PST I am a graduate student who gets $1100/mo from the government as a stipend for school (idk if this is taxable or not or who to even ask about that), about $5k total in scholarships/grants and $2k-$3k in part-time employment income. I put $5500 in my Roth IRA for 2021 but now I'm freaking out because maybe I am not allowed to because of the type of income (maybe it doesn't count as income?) and the amount of income I have. [link] [comments] |
| Can I cash a settlement check at the bank it's drawn on or do I need to deposit it? Posted: 13 Jan 2022 11:23 PM PST After 6 years of being a named plaintiff in a class action I finally got a settlement check. Not much by class action standards, but kind of large for walk-in standards. It's for $6,667. If I go to People's bank can I cash it there or should I just deposit it to my Chase account? The check is from a major law firm, not a hand-written check. The reason I ask is tomorrow I'm planning to buy a new car and half of that money would be down-payment money. [link] [comments] |
| You are subscribed to email updates from Personal Finance. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment