Personal Finance Should I withdraw my entire $8500 Roth IRA to pay off CC debt? |
- Should I withdraw my entire $8500 Roth IRA to pay off CC debt?
- Financed a car I can’t afford. Need help.
- Had an offer on a house accepted at 3% down. Parents are offering to "gift" (read: loan) the remaining 2% I need to get to 5% and suggest I try to do 80 15 5 with a piggyback loan
- I am in debt, spending more than I take home, and I need help with my budget.
- is my friends employer committing wage theft?
- Apartment won't pay for hotel
- Should I lock my rate/interest rate will get higher??
- Best option for old jobs 403b and retirement positions?
- Received snap benefits when no longer eligible
- How to do 401k rollover?
- I made the mistake of putting my life savings into a non-tax advantaged Targeted Retirement Account...What can I do to fix it?
- New homeowner, should I pay off my car?
- Apple store added AT&T account
- Where to find tax/financial advisor for "regular people" (Boston)?
- First time filing my taxes
| Should I withdraw my entire $8500 Roth IRA to pay off CC debt? Posted: 15 Feb 2022 05:15 PM PST So I currently have $11k of CC debt. It is costing me about ~$250/month in interest charges (I pay more than the minimum payment, but less than the statement cycle so I am incurring monthly interest fees) Should I withdraw my entire $8500 Roth IRA balance to get my CC debt down to $2500? [link] [comments] |
| Financed a car I can’t afford. Need help. Posted: 15 Feb 2022 03:43 PM PST Financed a brand new 2021 Honda Civic EX in August 21 and now looking to get rid of the debt and the car for financial reasons. I live in Ontario, Canada. What are my options? I'm going to the dealership I bought the car from tomorrow to see what they offer. It's going to be probably less than what I owe on the car. I feel helpless and the payments are eating up all my income and I don't have enough savings to pay for the difference. I had a good job that time which made me feel confident making this purchase, it's a big lesson for me. I probably wont do financing ever again, only pay in full for what I can afford. I heard the used car market is hot right now so that gave me a little hope. Please help guys.. Thank you in advance. [link] [comments] |
| Posted: 15 Feb 2022 04:24 PM PST I'm a first time homebuyer, a feat I managed to accomplish all by myself. This is arguably the most stressful thing I've ever had to do, there are so many variables in play that I'm trying to figure out how to handle. My dad, who works in homeowner's insurance, is offering to gift me the remaining 2% I'd need to get to 5% down payment (which I'd pay him back for) so I could get a second, piggyback loan of 80 15 5 to avoid paying for PMI. While that sounds really appealing, what are the upsides or downsides to paying PMI versus paying the money to the bank of dad? There are so many variables and moving parts to this whole process, is it better to have more money going towards the equity of the house with two loans versus paying mortgage insurance? Could I end up paying more in interest with the two loans than I would with PMI? Has anyone ever done a piggyback mortgage before with success? EDIT: Some people seem to be stuck on the nature of the gift from my dad. I have other ways of getting to the 5% I need without taking money from my dad. Is there a general consensus on piggyback mortgages? Are they worth looking into? EDIT 2: Thank you to everyone who helped clarify the difference between a gift and a loan, I'll have to have a talk with my dad regarding what exactly would be the nature of the agreement so that we aren't doing anything stupid or illegal. [link] [comments] |
| I am in debt, spending more than I take home, and I need help with my budget. Posted: 15 Feb 2022 09:24 PM PST Background: 35. Give 15% into 401k. No savings. Grew up poor and am bad/undisciplined with money (make it, spend it). I got a raise from 60k to 80k a year ago - thought I would be able to pay down debt, instead I've got in deeper. Realized the problem is not my earnings, its my habits. Would appreciate any feedback on where you would start. Monthly After-tax income: $4500 | Jan Spending: $5020 Essentials
Other Spending
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| is my friends employer committing wage theft? Posted: 15 Feb 2022 06:10 PM PST whenever a customer doesn't pick up their food the cost of the food gets deducted from their paychecks. I feel like either he is lying or this is a grave injustice that I would like to stop if their are laws preventing this from happening [link] [comments] |
| Posted: 15 Feb 2022 03:46 PM PST So about a month ago, the unit two floors above mine had a sprinkler malfunction and it trickled down to our apartment. It happened a day before I was set to spend a month elsewhere and the worker said it would be done in a week so I figured that when I get back it would be done. A month passed and I returned to the apartment only to find that it is still uninhabitable with all my furniture centered in the middle of the room wrapped in plastic and repairs still being done on the walls. It was pretty late at night and I needed a place to sleep and do some schoolwork so I rented a hotel for a two night stay. The next day I spoke with my apartment's manager and she said that I would not be reimbursed for my hotel stay because the apartment doesn't have a deal with that hotel and they put me in another hotel for another two weeks. I told her that I tried to call when I came back but they were closed and she said that I should have called the emergency line which admittingly I did not know existed. She also said I should have called ahead of time which in hindsight I guess I should have. I have renters insurance idk if that changes anything. So I mean is there anything I can do or do I just have to take the L? [link] [comments] |
| Should I lock my rate/interest rate will get higher?? Posted: 15 Feb 2022 07:40 PM PST My closing date is about 2 months away, I can pay a fee to lock in the rate until the closing date. But my loan officer thinks the rate might go down since it been going up a lot. What you guys think? Lock now or wait until the FED meeting on March. Thank you New purchase with 30 years fixed loan [link] [comments] |
| Best option for old jobs 403b and retirement positions? Posted: 15 Feb 2022 07:00 PM PST Hey everyone, just hoping to clear up some confusion: I've just started a new job and they offer a 401K through Fidelity, and I have a decent amount of money in my previous employer's 403b through Vanguard. I also have a personal Roth IRA through Charles Schwab.
Currently my 403b is all in the Vanguard 2060 target fund (VTTSX). I believe that the fees for this are approximately $60/yr. I was planning on having my new Fidelity 401k be the same, just a target fund. My Roth IRA is fully into Schwab's 2060 target fund (SWYNX).
I dug a little into the process, and it seems Vanguard would cut me a physical check made out to Fidelity, and I'd just use Fidelity's mobile deposit to transfer. Is this the correct process? For some reason I imagined they could just do an electronic transfer.
To the same point, is it even worth it to roll it over into Fidelity, if I'm just going to pick another target fund and forget it? Would it likely perform better if I transferred it into my Roth IRA (which is also just another target fund.. maybe put it into SWPPX/Schwab 500 index instead?) My main concern with putting it into my IRA, is will it affect my yearly contribution limit at all, and does it even make sense to leave my current contributions to SWYNX (2060 fund), and just dump the rollover into SWPPX? Or should I just consolidate all of it into one or the other?
For what it's worth, I have historically preferred a "hands off" approach to contributing to the yearly max and forgetting about it, but I'm not against changing/restructuring my current setup if it is clearly better than what I'm doing now.
Thanks so much in advance for any guidance on this, I appreciate any and everyone's time and expertise. [link] [comments] |
| Received snap benefits when no longer eligible Posted: 15 Feb 2022 09:38 PM PST When I originally applied for snap benefits I was only working part time and Submitted legit paystubs. For the last 10 months I've been working full time but also receiving benefits and using them. I realized now I wasn't eligible because I made to much. I know I'm in the wrong. Am I looking at potential criminal chargers?! [link] [comments] |
| Posted: 15 Feb 2022 11:43 PM PST I'm going to rollover a previous 401k into my current one, is there anything important to keep in mind to not mess it up? They say they have to mail me a check and I then mail it to the new plan, does this sound right? [link] [comments] |
| Posted: 15 Feb 2022 10:38 PM PST Long story short, I put most of my savings into a Vanguard Targeted Retirement (VFIFX) and because of vanguard's auto reinvestment, I got pinged by a $90k tax bill this year. To add insult to the injury, my current balance on the account is LESS THAN the cash I put in over the years. So not only do I lose money investing this year, I also have to have capital gains tax (LTCG) on the reinvestments vanguard did. Enough sulking, what can I do now? Do I take out ALLLLLL the money from this account and switch it back to VTSAX/ VTI and take a loss? Or do I just leave it in there and hope for the best? What is the most tax advantage way? [link] [comments] |
| New homeowner, should I pay off my car? Posted: 15 Feb 2022 06:52 PM PST I bought my house at 29 for 252k in October 2021 at 3% APR. I have a 2017 Civic Si that I bought in May 2018 at 2.69%. The payment is $384 per month. I have $24k liquid in savings as my emergency fund. My yearly income is $75k. The payoff on my car is $6k. Should I just pay it off and put that $384 towards the principal on my house every month? Is it worth taking 6,000 dollars out of my savings to save a few hundred dollars worth of interest? I'm struggling because it doesn't seem worth it to me. Yes, I could pay the car off and be done with it, but six grand is a lot of money, and with homeownership, you never know what is around the corner. [link] [comments] |
| Apple store added AT&T account Posted: 15 Feb 2022 04:24 PM PST My dad went to the Apple store to buy an iPhone and add it to his existing account. The sales guy messed up and created a new account. His manager came out to help fix it by returning the phone and canceling the new account. She recommended that he should go to the AT&T store to confirm the account wasn't set up, which he did and they confirmed there wasn't a second account. Of course a month later he got a bill for the second account. He tried calling AT&T but they said they couldn't do anything without the password for the phone - a phone he doesn't have… he's gone back and forth between Apple and AT&T, and no one can help him. What can he do here? [link] [comments] |
| Where to find tax/financial advisor for "regular people" (Boston)? Posted: 15 Feb 2022 06:18 PM PST I'm over 40, and I finally have a job that pays a lot, and I like it a lot. I don't know a lot about investments and taxes and whatnot, and if I'm going to be really honest, I'm not at all interested. However, I am managing to save up for a home downpayment, and everything else goes to retirement and general savings. My friend lives in West Virginia and works for the same company as me, plus he's in a similar boat as me. He found a financial advisor that, well, advises him. Not a huge cost. He gets advice on what to do with RSUs, what bank or Roth or whatever to put money in, tax advice. and the like. I live in the urban Northeast (Boston area), and I am unable to find someone like that. I have zero savings, other than what I have started saving up for the past two years for retirement and a home downpayment. All these advisors I find (even the "independent" ones) want me to have a ton of money so they can invest in a portfolio for me. They want clients they can set up a trust for and whatnot. I did find 3 different advisors willing to talk to me, but they were laughably bad. One of them wanted to me to send my financial statements direct to their Yahoo email address. I am guessing that my challenges in finding an advisor is a function of where I live, because there are a lot of wealthy people here, plus people who have been financially planning themselves since their 20s, went to some big universities, etc. I am a very unusual in my life circumstance here where I live, at my age, relative to others. It will be very useful to find someone who can advise me, because according to TurboTax I owe a lot of money for taxes, seemingly due to RSUs. I can pay it, but it is a surprise. I want to minimize surprises for next year. [link] [comments] |
| Posted: 15 Feb 2022 07:43 PM PST I'm trying to understand more about a W2. Is it normal for your social security wages to be equal to your wages, tips, and other compensations? I've had two jobs in 2021. My first job was a bit sketchy in general when it came to money so I'm wondering if they screwed me over. I only worked here for a couple months. [link] [comments] |
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