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Kris-Fillip

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Given the option to get fired or resign

Hello PF. Today I was given the option to get fired or resign from my job. The short story is that I have been working at a small firm for a year. I was pretty inexperienced when I started so I was hoping for a mentor (was mentioned in my interview). Due to a lot of bad timing, I was left to handle several important projects that were beyond my experience on my own and did a terrible job with them. Today was my first annual review and my mentor said he was told to give me the option of getting fired or resigning from my job tomorrow. I know that most of the firms in my area all know each other because they all generally know when new people are hired/fired so I am hesitant on getting fired. I will be getting my vacation pay and there is no severance as far as I know. I have to make the decision tomorrow. What should I do?

Your employer is trying to get out of your unemployment insurance claim by threatening you that they will report negative information regarding your employment there. The vast majority of employers only confirm employment and dates. They are exposing themselves to a very real risk of being sued by you if they say anything more. It's especially egregious that they are using this negative information tactic to try to get you to resign. If the negative info threat comes up when you tell them to terminate you, don't hesitate to let them know that if they try to make it difficult for you to get another job they can expect to get sued! It's not like you ripped them off. Let them terminate you, and head directly to the unemployment office and open your claim. Find a good, ethical employer for your next gig.

Hello PF. Today I was given the option to get fired or resign from my job. Make them fire you. It's more difficult to collect unemployment if you quit. They're trying to weasel out of unemployment. I was pretty inexperienced when I started so I was hoping for a mentor (was mentioned in my interview). Due to a lot of bad timing, I was left to handle several important projects that were beyond my experience on my own This is their fault. They knew your capabilities when they hired you and your mentor knew them while working with you. and did a terrible job with them. Not surprising. Also not your fault. Today was my first annual review and my mentor said he was told to give me the option of getting fired or resigning from my job tomorrow. Tell him you're not resigning. Do not tell him to fire you. Just say "I will not resign". I know that most of the firms in my area all know each other because they all generally know when new people are hired/fired so I am hesitant on getting fired. If they do/say/disclose anything that makes it difficult for you to get a job, you can sue and win. I will be getting my vacation pay and there is no severance as far as I know. I have to make the decision tomorrow. What should I do? Show up at work, do your job. If they don't want you, they'll need to fire you. Also google "constructive dismissal". If they change your duties or working conditions substantially, to get you to quit, this is completely illegal and a lawyer will happy sue them without you needing to come up with a nickle.

personalfinance

1sttimegettingfired

t3_6erel4

regular14u

dickhct

bupkisdotorg

did75u2

Is there ANY reason for a professional to file a FAFSA?

I'm taking masters classes at night. My income is far above the level for need based grants from the govt. My grades are flawless, but I'm still excluded from scholarships from my university due to my income level (undergrad is different, but for masters they factor income into their scholarships). I'm able to easily pay my tuition costs out of pocket, so the only thing filing my FAFSA the last time around garnered was an offer of unsubsidized loans which I declined. I know the mantra is "thou shalt fill out thy FAFSA", but given my circumstances, is there any earthly reason to fill it out that I'm missing? Or is it a complete waste of time?

You're likely to waste as much time checking this post for answers on if you should fill out the form as it actually takes filling out the form. Think about that for a moment. You posted this 23 minutes ago. Your form could be completed by now.

You should, but... I'm in the same boat as you OP. Work full time as some sort of professional so my income is high enough to pay for my masters I'm doing part time after work. So - I've been paying it out of pocket. On my last semester now (already paid) so too late to do anything about it going forward. I filled it out the first semester and it gave me something about lifetime maximum exceeded or something along those lines. OK - I got quite a few subsidized loans in undergrad. So I haven't bothered since.

personalfinance

DasKapitalist

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92Lean

d9fcq35

SpyCake1

d9fhx1g

Reddit, Inc.

Hi all - first time poster in r/investing. Glad to be here! I have two or three questions for you: Can the new [Reddit, Inc.]( go public? Should they? Would you invest in it?

Reddit, Inc. was stripped from Conde Nast and brought directly under Advanced Publications (which owns Conde Nast). It is a private company owned by the Newhouse family since 1922 and likely to stay as such.

If they're going to try to further monetize Reddit, I suggest they carefully study all the mistakes Digg made, lest they end up the same way. After the big encryption key controversy, I left Digg for Reddit and from there it basically went downhill for Kevin Rose & Co.

investing

scratch_n_sniff

t3_k6wwn

zwt

t1_c2hzb7o

c2hzb7o

Kestral

t1_c2i0f31

c2i0f31

Do dividend payouts during recession typically decrease?

Title says it all. I am on my first year of trading and I want to redo my portfolio to concentrate on building meaningful positions and especially dividends. I basically want to sell everything now and then buy back in December which would give me time to allocate and budget accordingly. I personally believe recession is coming in the next 12 months but more likely sooner than later. This brings me 2 concerns: how much of my money should I keep out of the market in order to average down in case an impending recession finally begins? I was thinking 50/50 or 60 in 40 out. I want to start building my portfolio mostly with dividend paying stocks. During a recession obviously share prices go down but do dividend payments typically shrink? I want to get my hands on an ETF like VYM for a ‘safer’ dividend stock, a blue chip, probably MSFT for a middle ground between growth and dividends and something like FTS or AQN.TO for high dividend payouts that are more likely to have their share prices effected which would be easier to average down on in case of a recession. Yes I am aware that share prices go down, ergo, the 3% that you get from that share price in dividend payments would also be smaller— my question here is, does the 3% shrink during a recession?

Look up dividend aristocrats and dividend kings. These are companies that have been increasing dividends every year for at least 25 years (aristocrats) or 50 years (kings). That's right, not only keeping them flat, but increasing. That's an incredibly strong track record and you can be pretty confident that they will keep their track record (sometimes, shit happens, of course) of increasing dividends every year. Dividend kings include companies such as Altria (currently at 7.7% yield, but some people are worried about their future due to tobacco consumption and regulations), Johnson & Johnson, 3M, Coca Cola, Target, Colgate-Palmolive, P&G, etc. Of course, that is no guarantee that they'll be able to keep those dividends up, but their track records are really great. You can also buy ETF's that track an index of dividend aristocrats (in S&P 500 for example). These indices have been slightly outperforming the whole S&P 500, but their expense ratios are slightly higher and they might underperform in the future. Nobody really knows, but the fact is that they have great track records. You can look at the history of dividend payouts on MacroTrends, here is [JNJ]( for example.

I’m saying holding 100 shares, starting positions by either slowly buying shares or selling puts and then selling covered calls. Companies that pay dividends you get income both ways. If you are selling weekly calls that are a couple bucks out of the money, you get the premium and most likely keep the shares, if they sell you get a capital gain. There are some stocks you can get huge premiums on short term calls.

stocks

googleyedjack

t3_dexfxe

PanPirat

f2zrwsv

benderstein

f30hrrp

Is this normal? Listing agent didn't submit our offer, "called the bank" instead.

We submitted an offer on a short sale, and expected it to take some time before we heard back. We heard just one hour after we submitted it. The listing agent said he "called the bank" and they rejected the offer. I found this odd. Can he just call them up like that? He told our agent that he didn't want to go through the pain of submitting the paperwork when the bank would just reject it all anyway, so he called them and got a no right away. Is this typical? Or could he be lying to us just so he can get us to increase the price? &x200B Background: this is a short sale; stale listing because it's a hoarder house in very bad shape that is listed at above-market value for the condition it's in.

When it's a short sale, the seller's lender has to approve the offer, because they're agreeing to take less than is owed on the mortgage. If that offer is too low, they're going to say no. Then no matter what the seller thinks about it, it's still a no. So the listing agent did the right thing.

The listing agent may have obtained a pre-approved price, and if your offer doesn't meet that price, then the agent knows you won't be approved regardless. On short sales, this is often NOT the case and it can take a long time to get a response from the bank, because of the way they do things. However, if yours hasn't been the first offer, and/or if the seller has already been working extensively and gotten approved for the short sale, then this may have already been addressed, in which case the listing agent is probably being fully honest, but would not be able to get a written notice of rejection without going through the whole rigamarole. Do so if you wish.

RealEstate

SwimmingPiano

t3_b7pdu9

PearsonFlyer

ejta7ut

MsTerious1

ejug9h9

Multiple counter offers. How do you know if the sellers realtor is bluffing or not

I have been house hunting for couple of months for single family house in So Cal. The market cooled down a bit, and I wanted to take advantage of that. We found a house in a good shape, however the style of the house is very awkward and because it has been sitting on the market for over 60 days. I asked the agent showing of the open house if there are any offers on the house and he said no. We made a fair offer below the asking price on the same day. The listing agent said that there was an intrest from another party. I followed up with agent on the second day and he informed me that the sellers are considering our offers and there are no offers yet. The following day I followed up with the agent again.... all the sudden there was another offer on the table. The same day our offer would expire... the listing agent said that he will send multiple counter offers!! I mean what a coincidence? I feel the odds are low for this to happen. How do I know if there is really a counter offer? It has been sitting on the market for over two months with no actively or price change and all the sudden there are multiple offer?!

Unless you can get them to show you the offers then you can't. But it doesn't really matter. Don't get caught up in "competition." Offer what is fair for the place (You were likely going to have to negotiate some more either way) and if you get it that's great. If you don't, then it wasn't meant to be and you can move on to the next one.

Everyone saying its bs probably hasn't worked many deals. I mean, it could be bs, but it's likely true. However quite often there will be no offers, then multiple in close succession. Its some-what of a phenomenon. The initial offer often drives the others. When some one thinks they will lose the house, that makes them pony up quicker. Also, once a low offer comes in, seller agent will often call back all the people that already looked that were maybe close. Use your low offer to shop other offers. Also why did you offer under ask? Do recent comps support what you asked? A ridiculous amount of people seem to think you should never offer ask and you should always low ball, that's not really how it works though. You have every right to low ball of course. But if they accept another offer you know why. If you are patient then you might get someone to accept the lowball. Good luck

RealEstate

EtherAcombact

t3_ah0dpc

IceCreamforLunch

eeadhwm

baumbach19

eec7876

26 making $46 k, should I look into a career switch

I'm 26 years old with an MA in International Relations. I've been working at a non-profit trade association for the better part of two years. I don't see much of a significant pay increase or career trajectory. I personally see myself more suited for data analytics or due diligence work. Does anyone know any feasible careers to look into?

I'm 27 making $30k a year. My job is simple, yet boring, but stress free. I'm basically my own boss and it's great not having to deal with corporate/higher ups BS. I could easily get another job making at least $50k starting salary, but I've been there and it's very stressful and taxing on me mentally. Of course, the cost of living where I am is very inexpensive as well. 1800sqft house for $80k. About $200/month for all utilities. :) So I guess that can play a role in it as well. Find something that you don't hate and if it supports you, go for it!

your well under paid for your skill set, i would look into consulting or a think tank or something. Getting out of the non-profit space is important, they never pay well, it will look good on your resume though

personalfinance

Pipiopi2189

t3_38867p

TheTigerbite

t1_crt8vde

crt8vde

iron_crow

t1_crtwtvy

crtwtvy

Need a car but bad credit.

I own a 2000 ford Taurus that is about to die, i took it to the shop and to repair it to a usable state it would cost me A LOT. I never really had anything to build credit on and i have some medical bills (which my parents used to pay) that were never payed from when i was like 18 (I'm 23 now). I just payed them like last month when i noticed they were on my credit report. Some info: I am 23 years old single, no kids and make 60,000 i have had my job for about a year and 3 months. I am looking to get a loan but my credit score is 570-590. I have tried to get approved with US bank and capital one but got denied. What are my options on getting a loan ? EDIT: Sorry, I started here at 38k I got a promotion and moved to 45k, got another promotion recently and moved to 60k. I have around 4k in savings, I guess I have never considered myself a very big savings person. On the same account i always pay my bills on time, So credit union is a good place to go to?

You can easily find a car for 4k. My Lincoln Town Car for example cost $2500. (1 owner, garaged, maintenance records etc). Drive this until you either save up enough to get a better car or your credit score improves so you can get a loan.

Santander.com When my credit was shot after a divorce, they gave me a loan and reported it to the bureaus. The rate will be high - in excess of 15% - but if you are dedicated to paying it off quickly, you will have a reliable car AND a good credit reference.

personalfinance

minishini

t3_2f9miy

jacob6875

t1_ck760q6

ck760q6

Dragonfly518

t1_ck77z6z

ck77z6z

Self-Employed Since July, $33,000 earned so far and at a loss on taxes

As mentioned in the title, I've been self-publishing romance books (I know it's weird) through Amazon since July 3rd and earned about $33,000 so far. I just realized self-employed income is supposed to be filed quarterly and now realize I need to get on this ASAP instead of waiting for tax time. If anyone knows a good resource I could look at or has some general advice for me moving forward I would greatly appreciate it. My main questions are: 1) When are the dates that quarterly taxes are due and what is the fine for missing them? 2) If I'm expecting ~$100,000 a year from self-employed income going forward, are there steps I should be taking now to minimize my tax responsibilities ($100k raw income and roughly $25k business expenses through advertising). 3) I've heard murmuring among the writing community that setting an LLC up is the way to go. Is paying myself a "salary" through an LLC really a legal option to avoid paying as much in taxes? 4) I've also started hearing "Get a CPA asap. Is this essential and are there any tips from people with experience on picking the right person for the job? Thanks so much in advance! I feel like my post is a little all over the place, but even some general advice would be really helpful!

You should talk to a CPA, because 1) your time is clearly valuable, let a CPA do the numbers and 2) any mistake you make will be vastly more expensive than the $100-500 CPA visit. Congrats on your success, go write some more smut for us!

Former self-employed. You'll have fines if you wait to pay at tax time (April). Not a lot (compared to what you would pay if you don't file and/or don't pay by April 15), but more than you should be paying. Generally you can avoid fines if you pay estimated taxes before the 4th quarter deadline. If you missed that deadline, just file it anyways and you might get lucky. Also, whatever you do, do not postpone filing in the future. The IRS is transparent, but their fines can be pretty severe if you don't pay them how they want to be paid. Your self-employment income is all reported to them and there is no hiding from it. So just pay it ASAP. You're looking at a $7k-$10k total tax bill based on the $33,000 income, so make sure you pay that before January 1st, and then file your taxes before April 15. SE taxes at ~18%, income taxes at ~20% (minus SE taxes), state taxes @ 5-10%. Don't worry about setting up your LLC or s-corp right now. Worry about getting your taxes filed and paid.

personalfinance

RomacePubs

t3_5io1b0

auntgoat

db9o1rb

Richard_Engineer

dba6747

Why would I ever do a traditional IRA when you get taxed on earnings as well as contributions?

So I am aware that with a Roth you pay taxes up-front and with a traditional you pay when making withdrawals. But I didn't realize that with a traditional you would also have to pay taxes on the earnings! So given the following scenario: I contribute $100,000 to a Roth, I pay taxes on $100,000. I contribute $100,000 to a Traditional IRA, it grows to $1,000,000. I pay taxes on $1,000,000. Why would anyone do a traditional? Is it just that you may not be able to afford to hit the $5,500 limit if you have to pay taxes as well so therefore you don't have as much money compounding?

Because contributions to a trad are pretax. So lets say you earn 100k and your tax rate is 25%. Put 100k in a traditional or 75k in a roth. Lets say it doubles in size. You now have 200k which is 150k after your 25% taxes or you have 150k in your roth. The applicable information for making the decision is future expected tax rates.

First, income limits cut off Roth IRAs for many -- pretty much anyone considered slightly upper middle class in the Northeast or CA for instance. Second it is tax arbitrage -- is your effective tax rate lower now or lower when you are retired? The right answer, in general, is to do both.

investing

chuckliddelnutpunch

t3_5t1783

MasterCookSwag

ddjc6b2

wwb_99

ddjjy68

How can I pay off my student loans as quickly as possible?

Right now I have $120k in student loans from Sallie Mae (yay law school). Since graduating in 2011 I have accrued $12k in interest. I am paying the minimum monthly payments of $1,200 a month. I only make $30k right now so that's most of my money. I live in a converted living room in a house with 5 other people and I don't even own a car. I just got a second job at Wal-Mart and I start next week. I only start at minimum wage with 8 hours a week, though. I was going to put that money towards my student loans.

Instead of wasting time at Walmart working for minimum wage, why don't you focus your efforts on finding a better paying job with a law degree you spend all the money to get? With your current income, there is absolutely nothing you can do to pay off your loans quickly.

Your law school has an interest in helping you secure a good job. It looks good for their overall statistics, and you might become a wealthy alum one day! They should have a career counselor, alumni network, or something to help you get a position. Also, I agree with , you should spend your extra hours volunteering. While it will cost you in the short term, in the long term it is your best shot at securing a real job.

personalfinance

iamsuperbroke

t3_1ph5bk

ed_lv

t1_cd28k6z

cd28k6z

Secret_Identity_

t1_cd2jv07

cd2jv07

Any insights on buying foreclosed property?

Looking to buy a rental property. Found a studio that is in foreclosure, but it is already occupied by a tenant. Anyone have any thoughts/advice/experiences to share about foreclosed properties? We already have rentals, so not new landlords, but have never dealt with this particular situation.

What STAGE of foreclosure? Are we talking "bid on it on the courthouse steps" or "this is now bank owned and listed in the local MLS"? Makes a huge difference usually.

Depending on how long the remaining lease is, might just let them stay if they're any good and not renew when the previous lease expires. Don't think I'd go beyond 90 days for such an arrangement myself. Otherwise I'd offer them cash for moving out.

RealEstate

DumplingRUs

t3_5s0jn7

JohnGypsy

ddbnnlv

ubercorsair

ddbywsb

General advice is to save 10-15% of income for retirement. Does that include company match?

Title. I have a 4% company match. I put 4% into 401k and 4% in roth IRA. For all intents and purposes, is this saving 12% or 8%? Might be a stupid question, but if the 4% is part of my benefits, I generally just include it as part of my total compensation, meaning I'm saving less than the 12% figure.

Including the match and counting it as part of your total compensation makes sense to me. But ultimately these rules of thumb don’t matter. It’s a number on a spreadsheet. If you save 9% and you’re below the cutoff line for a rule of thumb, it’s not like you won’t be allowed to retire or you’ll be arrested by the rule of thumb police. You’ll just have a smaller number on your spreadsheet than if you had saved 10-15%, and you’ll either retire with less money or work longer.

Your example is 8% and employer match is a bonus kicker if you get it. If you leave that employer while you're unvested you lose the match so better to not count it.

personalfinance

Kinjir0

t3_enb528

ricksebak

fdxfyt5

hb1500

fe03gy4

Going back to college worth it?

I am thinking of going back to college to get a bachelors in computer science while working full time. I have about 8k in CC / PayPal credit debt and also a loans totaling another 8k. I make 47,000 a year but figure going back to school I can potentially make a lot more. I want to go from community college and the transfer to the state university to complete the degree as this route is cheaper. but i might come out with another 35k in loans. Is this smart to to do if the average software engineer salary is around 75k out of college. I just dont want to be kicking myself if i don't go back its been on my mind lately a lot and would love to get into software engineering. BTW I am turning 32 this summer not that that matters much, I don't think. Can anyone help me out here and let me know if this is really worth it. I have a good credit score 720 and very responsible while trying to get out of debt.

I went back for mechanical engineering at 26, it was probably one of the best decisions I've ever made. The salary increase will offset the cost of school after a little over a year, which is a great deal. My experience is that community college really does try to make it easy for working adults (offering night class, online courses, easy to go part time, etc).

Honestly, Between lynda.com, and those other free colleges that are doing online courses for free. Khan academy is good if you want to learn the basics. I mean to me it just seems kinda pointless giving everything is online and pretty much free now. Im not saying don't goo back to college, but at least look at all your opportunities first. :D. Try doing some of those free online courses.

personalfinance

Jelbb

t3_66vpyy

Solution68

dgln6m4

jon_hobbit

dgm4d6u

Girlfriends grandparents want to put her on mortgage to refinance home and then take her off due to her good credit

I don’t know the exact details but from what I know they owe 450k and she thinks they’ve paid around 100k and want to add her to the mortgage because her score is 780. Her grandparents claim they’ll take her off as soon as possible, but after a little research I saw it’s not so easy to just take someone off the mortgage plus I think they would have to refinance once she’s off. Worse comes to worse and she doesn’t get out the mortgage, how would this affect her future? Would this affect her first time buyer perks? financial aid (she’s still in school) This just sounds like a big risk to me, but I understand why part of her may want to help them out The lender keeps calling my girlfriend for information about credit and income but she keeps postponing with him as she’s still thinking this through. It seems he’s very interested in this p.s she lives with them

NO. It doesn’t work like that. the rates and approval are generally based on the lowest of the applicants. Having someone else who is sky high doesn’t “dilute” the bad credit and raise it up. You can’t just “take someone off a mortgage.” If they could refinance on their own, they either would have done that by now or will have to just do it on their own going forward. Old people with bed credit and who obviously want to spend more than they can support on their own (by underwriting standards) is not a good mix. Even worse when the people are not working or close to an age when they won’t be anymore. She will affect her own FTHB options in the future. I would have her put a credit freeze on her accounts NOW. Family or not, too many people get preyed upon behind their backs by family members with access to their SSN.

Someone correct me if I’m wrong but if her parents have such bad credit they won’t finance them then they won’t agree to refinance with just the parents on it right?

RealEstate

ClassicFetus

t3_d0dndf

1000thusername

ez8wn4l

Jt832

ez9rllm

Dad died 15 years ago. Today my mom gave me land I never knew I had before

I know this information may not be sufficient to accurately assess the situation so if any further information is needed let me know. Incoming wall of text. I am about to inherit a piece of land that is roughly 6 acres zoned by the city into 13 estate lots , 10 townhouses. This land was zoned about 2 years ago before my dad died. FAST FACTS: This is in eastern Canada The average house in the neighburhood is worth 200-300 k. It will cost 250 k to turn all the lots into engineered lots. The vacancy rate in the city is 6 percent. Neighburing engineered SINGLE lots are selling for 95 k The land adjacent to the property was developed by my dad and his business partner (similiar situation about 15 estate lots 8 townhouses) which my dads partner snowballed into apartments condos etc eventually accumulating a sizeable real estate portfolio. (I can't reach out to him though because he stole from my dad while he went through chemo) Most of my families fortune was sunk in bad business ideas, medical bills treating my dad I wasn't raised wealthy or with a silverspoon in mouth boohoo. I'm 23 make about 65 k a year in healthcare. Has anyone been in a similiar situation? What did you do? My options are: Develop the land into all 23 potential properties Engineer the lots and sell them A combination of the previous two to generate start up capital so I can do the first Sell the land (I don't want to do this because 6 similiar sized lots have been developed in the area over the last 6 years filling it out into a suburb) I really feel like there is potential here Has anyone found themselves in this kind of situation? I've even thought of going to a community college and picking up some carpentry chops and physically doing as much of the skilled labor involved in building theses properties myself (I'm 6'2 200 pounds and workout so I can do some manual labor why not) so I can save money. I feel like there's big risks here but I'm young willing and now is the time to take risks and reap rewards. I have a safe career here but I feel like oppurtunities are knocking here. I'm half chinese and I know alot of people in my community who are willing to invest in this idea with me. Sorry I know this is a jumbled confusing and possibly overwelming information. Reccomended reading? Thoughts? I currently have no set time frame on when to start this I just know in my heart that after doing proper research it's something I'd like to do!

I think you may be underestimating the amount of time, money, energy, effort, and hair-pulling you will have to do to get these lots developed, much less build on them. I don't mean to be insulting, just because you are big and tall in no way implies you are capable of building houses, which is skillled labor. Taking a few carpentry classes at community college is no where near enough to be able to build a house from scratch, much less whole lots... Unless you are willing to invest in years and years to do this, and have deep pockets for when things turn sour or you can't get permits or who knows what, just sell the lots.

Partner up with a builder. Find a local reputable builder in your area that's looking for land. You give them the land. They fund the building of the homes with no money from you. You both take on risk, but you both can win.

RealEstate

dingus4u

t3_7bmfas

Zwillium

dpj64of

DarkRider23

dpj9r3u

San Jose Area: Considering of buying a house with 2 other people.

The answer to this question may be a simple no, but I need reddit's most honest opinion. I'm thinking of buying a house in San Jose area with 2 other people. Our deal is to split the down payment 3 ways (180k down, 60k each) and splitting the equity 2-3 years from now down 3 ways. A background about myself: I'm a 30 year old nurse. According to my calculations, it will take me another 3-4 years to get myself in a position for 20% down in a 900k house in SJ. Is this a good deal for me? Side note: The other two are single women in their 40s with kids and will not be living in the house. One of them already owns a house. Her cousin (the other person on the deal) also owns a house. The name will be under mine and hers (the cousin), since she cannot put her name on another loan. I have a few questions: Should they also split the rent with me even though they don't live there? If they don't, should I make the equity split be 40/30/30 instead of 1/3 each or is this too little? If we do end up getting a 900k house, we were thinking of getting a 3 bedroom and adding rooms as long as the city allows it. I'm a first time home buyer and I am in dire need of your honest opinion. I feel like i have been saving for the last 4 years and I cannot catch up to the real estate's fast pace growth. Thank you for taking the time to read this.

Going into this, know it can get very, very messy. I’ve seen this fall apart very poorly with friends and family members. When it falls apart (and it probably will, Full House was a TV show for a reason, and they all lived there), it takes a long time (and a lot of legal fees in some cases) to unwind. People are big variables, and you need to have very clear (I’d argue legal approved) documents that say what happens when anything happens (someone wants to sell, someone gets divorced, someone wants to pay for a remodel, two people want to do these things, one person doesn’t want to contribute financially to a remodel, etc.). The equity splits aren’t going to be cut and dry, and you could have a mess on your hands when it’s time to split things up. Tread lightly. I’ve yet to see this story end well. It is also a really dangerous thing to put your living situation in other people’s hands when it’s not something you can afford on your own.

This always sounds like a smart strategy but I have been in real estate for 20+ years now and have never- not once- seen an arrangement like this work out for all parties without some sort of infighting, drama or legal fight at the end. I know it sounds like a really good idea, but there's just too much potential and too much on the line to ever do this with someone who isn't your spouse. Sorry to give the answer you don't want to hear.

RealEstate

flipkid1287

t3_7xg5u5

eizzapizza

du824r7

conjunctionjunction1

du83udv

Buying new home before selling current home. What's the best way to go about this?

We're looking to downgrade our current home to something smaller, cheaper and more manageable. We currently have about 85-100k equity in our current home. We're looking at houses in the 120k-140k price range. The plan is to completely pay off the new home once our current home sells. I have enough savings to cover the difference. I've read websites warning against bridge loans. I'm not sure if that's the best way to go. A contingency sale would be another option but there's a lot of factors there as well. Maybe the seller of the home we want wouldn't agree to those terms for instance. Another option (which I'm not sure is an option) would be a home equity loan to cover the costs to buy the new home and then sell our current home. Thanks for any advice and recommendations

Be wise about it. The home I own had my initial offer rejected. Then my realtor told me the owners bought a new house, I told her to submit the same offer. She thought I was crazy, they took it, the moral of the story is two mortgages, insurances, taxes and utilities creates a LOT of stress. I would beautify the home you're selling, be patient and get that done first, otherwise you are negotiating from a position of weakness.

Look into a cash out refinance. It might work well for your situation. Run the numbers for 'worst case scenario' which would be doing a short term rental / Airbnb type of deal.

personalfinance

agentmantis

t3_etqkkh

onetimerone

ffhyorh

rossmosh85

ffiqhnq

Too late to jump on the $SHOP train?

I have been following this stock for a while now, did not see the last jump coming. Too late to go in now? Planing on medium term holding. 2-3 years.

If you are willing to hold 2-3 years then I would not hesitate to buy. Just go in knowing that this stock could easily drop 50% in the short term. But long term I see this stock beating the market.

This will correct at any time in the next month or so. It could go up 20% though but correct only 7%. Technicals are still upwards. You could wait on it but there is always that buyout that happens. Weekly technicals support the middle of the uptrend but any kind of drop will signal a downtrend or price channel.

stocks

itzikhan

t3_6zelzq

nbagenius2000

dmup9yz

GoToMySubreddit

dmv5s5u

Is anybody worried about China selling U.S. treasuries?

Hi guys, As I understand it, China is the largest holder of U.S. debt and Japan is 2nd. Japan is already starting to reduce its treasury purchases. If China sells off U.S. treasuries that means the yields will rise and companies across the country will be less inclined to tacking on more debt. This comes at a time when the market is already extremely leveraged AND when the fed’s fund rate is increasing. This will cause cash to dry up in U.S. equities which will slaughter the stock market due to the deleveraging....I’m really not trying to be a contrarian, I’m just wondering if anybody shares this same view? Thanks for the read!

China and Japan aren’t the largest holders of US debt. They are the largest foreign holders. The largest holder is the US Govt and then the US Citizens. China owns only about 6%.

At this point, as a common consumer we have a few limited options here between the US-China economic tensions. The most effective component would be to start writing letters to our elected congress and senate reps to start drafting legislation to increase economic available funding for corporate incentive programs to encourage domestic manufacturing growth. The second solution is to start making a conscious effort to purchase products in which there is a minima of money flowing to China. An iPhone is built in China, but (i) the design team is in California, (ii) the corporate headquarters is in the US, and (iii) the majority of the common share stock is held by the US. The third thing we can do is to shift foreign equity investments away from China.

investing

ajgbaby

t3_8aq03h

Nick357

dx0q82p

Long_Oil

dx0wtdl

I know we are entitled to one free credit report from each of the three agencies per year, but is that each calendar year, or twelve months from the last time I did it? For example, I did a check in November 2013, can I do one now or do I need to wait until November 2014?

Twelve months, so your specific answer would be November 2014. Depending on whether you are getting a major loan soon or not, you may want to have the strategy of one bureau every four months, to stagger across the entire year.

Just want to let you know that you're entitled to a free credit report each year. But if you apply for a credit card and you get denied, you're entitled to a free credit report like that (in some states).

personalfinance

MyCheeriosSpellOoo

t1_ck02ef9

zonination

t1_ck02l1g

ck02l1g

yeakevinc

t1_ck24lfi

ck24lfi

Cash out stocks for a better mortgage rate

Throwaway account. I had an offer accepted on a house in a high cost of living area. The amount was for $580,000. A 20% down payment would be 116k. That would leave the remaining 464k for financing. That amount makes the loan "high balance" which results in an interest rate of 3.99% for a 30 year term . On the other hand I have 40k available in stocks (and then some, I won't be dry after this) right now. I could cash them out and have the loan balance be 424k. This would result in an interest rate of 3.75% for a 30 year loan. Additionally we could do a 20 year and have the rate come down to 3.625%. So the question is what makes the most sense? If I pull the money out, I lose some potential for growth (let's say about 7% per year on average), but I get a lower rate which will let me reinvest they money over time. My hunch says get the lower rate and the numbers on a first pass seem to agree. Beyond that will the 20 year make sense? It's not a big drop in the rate. All of these interest rates came from a lender I have been working with (using yesterday's rates). One last note, let's assume that the mortgage (plus taxes and insurance) will be affordable for all three possible loans (but not a 15 year). Thanks in advance! Edit 1: looks like my hunch was wrong. I appreciate everyone's help here. I'll keep watching and responding for now. Edit 2: Maybe my hunch was okay. I did some math and it could just be that I suck at math. So what I care about is the final value (of investments and money spent on a mortgage) after 30 years. So let's start with the largest monthly payment available to me. That would be about 2486/month. I won't have any of that first 40k to see grow, but after the first 20 years is up I will have $2486/month to invest. I choose to invest it all for 10 years (not a whole lot of time for growth) and the investments grow an extra $84155 over those 10 years. I spent $596461 on the mortgage and can subtract the invested earnings to get $512306 spent. Plan 2 is I burn the 40k but have a 30 year mortgage. I have $522/month to spare though for 30 years. That money will grow $232865. I will have spent 706900 on the mortgage so the same calculation as above gets me $474035 spent. Plan 3 is I hold the 40k and let it grow. I will have a spare $273/month. That money will grow a huge $251482 (not counting the principal I put in). BUT my total mortgage will be $796512. The same subtraction I have been using will result in $545030 (more than the other two options). Am I double counting something here somehow? It seems to make sense to dump the money now in favor of having more per month to invest and a lower interest rate. I think a different return on investment would flip my conclusion on its head...

Your total mortgage interest paid will decrease by $90k over 30 years should you put the extra 40k down. That $90k would have been tax deductible as well. If you leave the 40k in the market for 30 years at 5% annual return you'd have $173k. No reason to put more than 20% down. **Not really apples to apples here as I'm comparing a lump sum from the 40k in the market to a accrued savings over 30 years from the interest but I don't wish to do the time value calculation. :)

I did a similar thing, but it was to pay the house off faster. We did a $50k down on a $180k house (28%). In hindsight I wish I would have saved the $14k and invested that, that would have been almost a year and a half of my wife and my roth IRA contributions. Now we have a large possibility of not being able to contribute the full $11000 for 2017.

personalfinance

throwaway_pf01

t3_6slu3z

alexm2816

dldot4n

ghostoftsavo

dledoem

I [19] owe the IRS almost $1000 by mid January of 2017, and I've nearly lost my mind. I have no idea what to do.

Hello, I'm really hoping someone here can help me out, please! I got a CP2000 notice from the IRS stating that I owe them like $953 by mid january for my 2015 tax return. Here are the two reasons why: I quit a job 4-5 hours in on my first day* [see bottom for story on this], and those hours were clocked. I was not sent a check or anything for that money and I try to get that money. It amounted to something like $35-$45, I think, so as a consequence I didn't put it on my tax return for 2015. The other amount comes from "Education credits" and "American Opportunity credits" or something, and it says that the IRS corrected it to $0 instead of $850 or something that I filed on my 2015 tax return. I don't know what either of those things are and I don't remember putting them, but I must have. I also don't know how those work. Please help! This is a lot of money for me to pay. I live on my own, I provide for myself entirely (live in an apartment and work fulltime) and I don't have a lot of money. This is an amount that is too much for me and I'm very worried and stressed about it. It's made my Christmas very stressful. Do I call them directly? Do I hire someone or try to talk to a local agency or something? Please let me know anything that might help.

The CP2000 is not a bill, and you have the opportunity to respond and possibly reduce or eliminate the potential tax increase. Your reply to the CP2000 falls into one of three categories: Agreed: The IRS Very Old Computer (VOC) is 100% correct and you agree with all of the proposed changes (you determine you were not eligible to claim the American Opportunity Credit (AOC) and the unreported wage amount is correct). If this is the case, respond to the notice and pay the amount due, or pay the largest amount you can afford, by the notice due date. You can generally request a payment plan for any part of the balance due you can't pay in full. If you take no actions, this will be the default determination. You will receive a Statutory Notice of Deficiency in about 60 days, then the actual notice and demand for payment about 100 days after that. Disagreed: The Service is 100% wrong (you are eligible for the AOC and the wages are not correct), you owe no additional tax, and you can prove why by responding with written substantiation on or before the time frame on the notice. Partially Agreed: Part of the proposed assessment is correct, but it's less than what IRS states. You can prove why by responding with written substantiation and you pay the correct tax amount with your response. If the Service agrees with your response, you will receive a bill for the revised interest due. If you have any questions about the CP2000 or what to submit in response, call the toll-free number on the notice. An amended return on [Form 1040X]( is generally not required. If you understand the notice, you determine the notice is 100% correct (or you can't pay the Agreed or Partially Agreed amount in full), but you need a payment arrangement, call 1-800-829-0922 M - F 7am - 7pm and speak with a representative. They will verify your identity and research your account. You should still submit the appropriate written response to the notice.

My mom is going through this right now...she was considered self employed during her years of working and never filed taxes for a while so for right now she's something like 10,000 total in debt between state and federal. So long as you're paying towards it nothing should happen...she pays like 25 a piece on both bills a month and they are accepting it and will continue until it's paid off(the rest of her life).

personalfinance

Omnicolors

t3_5kgkkm

these-things-happen

dbnuqzc

Shadows23

dbo8hjt

What to look for with hoarder's house?

I might make an offer on what used to be a hoarder's house. My offer will be 50% market value. (42k/84k+) My intention is to quickly make it a nice rental. I know the roof, HVAC, floors and walls might need to be replaced. Title insurance and opinion will be required. I'll be paying cash. We might do a 7 day closing. No realtors or MLS involved. Seller is considering wholesaling this one while he finishes his two other projects. If he can't he'll fix this one up too. What things should I look for? Any red flags?

Seller just took possession and decided to not flip it. That right there's a huge red flag, to me. If the seller is a PROFESSIONAL FLIPPER and couldn't flip it, what's your plan with it, what can you do that Mr Flipper can't do, and what does the seller know that you don't? 7 days doesn't give you a lot of time to look at the home and answer those questions.

Have you called a refuse company and gotten an estimate on cleanout? Also, water may have been off for a while so entire plumbing may be shot. You may be looking at a teardown, not a rehab...

RealEstate

mattluttrell

t3_43me3w

aardy

czja4oc

shitty_mood

czjs7c7

Other USA brokers/agents: why are we syndicating our listings to 3rd party websites?

After Zillow's latest couple of announcements, I have found myself questioning why we as brokers/agents syndicate our listings to these companies in the first place? Why don't each of our MLS organizations have open consumer sites and apps so that local shoppers can browse the MLS in real time? Brokers who participate in the MLS could individually decide how they want to handle the leads and inquires coming in on their listings. Why are we dumping hundreds of millions of dollars to pay 3rd party sites for the privilege of leads on our own listings when our MLS organizations could simply host the listings on a front-facing consumer site? Zillow's interface has become cluttered, clunky, and full of gimmicks. It would take just one clean UI and a few MLSs withholding their listings to put all these third party sites out of business within a week or two. The "portal" offered by corelogic that many of us are using is not good enough. We need something more modern, easier to use, and far better on mobile. This shouldn't even cost that much, and MLS organizations nationwide can split the license fees. Why are we funding our own demise? Can someone explain how this happened?

Not a realtor here but a web developer. You've made the claim that creating a superior product to Zillow would be easy and cheap, and I'm here to tell you it is neither of those things. It would take dozens of developers, project managers, and staff 1-2 years to build something comparable.

I don't disagree with your main point. But you're never going to get all MLS systems to agree on anything. The ones in my city can't even agree on stuff. Too many systems are independently owned although I've heard a certain title company likes to buy them when they can. That's who y'all should be watching out for, not zillow.

RealEstate

pittsburghrealtor

t3_6cyhqn

never_safe_for_life

dhyq0sq

wamazing

dhyhp5v

Relocating from Boston to Plano, selling our house, what to do with the cash from house sale

My wife and I bought our house for $300k and now it is worth $600k and should sell within a few days of being on the market. We are moving from Boston to Plano and the homes are so much cheaper there and we will likely end up with 100k that we are put towards our kid's college/life fund. We are 33 and my kid is 17 month old so this would be an amazing opportunity for us but I have no idea what to do with the money. I would love to be able to double the money within the next 16 years and that seems reasonable given the time frame and lower risk tolerance. What are my options to safely invest this potential money? I am open to ideas of any type I have no idea what I should do with it.

Amateur opinion here, but with all the companies and people moving into the dfw area, I think home values will continue to rise. Maybe someone else could chime in but I dont think it would be a bad idea to look at getting a rental property. Prices are really much better here than other big cities and I dont think that will be true forever.

I assume you are buying a home in Plano in cash correct? Personally, it wouldn't make sense to pay the interest on a new mortgage if you can pay for one in full.

personalfinance

theironcode

t3_f8aal7

Faschmizzle

fikaash

Realistic2

fik90r7

How much of my Roth IRA can I use for first time home purchase?

Hey Reddit, My Fiancee and I are planning to purchase a home in 2022 and have some questions. I have a Roth IRA account that was opened in June 2017. I will have 10k in it soon, and am planning to use it for a first time home purchase 2022. In June 2017 I contributed 3k and have been slowly contributing to it since. Will I be able to withdraw 10k from it even if the full 10k hasn't been in it for 5 years or would I be limited to only withdrawing the amount I contributed 5 years ago? Thank You!

You can always withdraw Roth contributions at any time tax-free and penalty-free; there is no limitation on age of account or purpose of withdrawal. Then you can withdraw up to $10K of earnings penalty-free for a so-called first time home purchase, once in a lifetime. (It doesn't necessarily have to be your first, first-time home purchase, paradoxically enough. ) If you have had the account at least five years, then the earnings distribution is also tax-free, even if not all of the money is five years old. This is not saying you should do this. It's better to have a Roth retirement account, and then a separate down payment account where big losses are less likely. But there can be situations where using a Roth for down payment savings is not a bad idea if savings cash flow is more limited and retirement income is secured in other ways, e.g. a pension.

It has not been mentioned yet, but go to a first time home buyer class. They are offered for free, put on by a mortgage broker and real estate agent with agnostic content. They are not allowed to promote themselves at these, but of course many folks call one or both afterward anyway. We did and loved our broker. We found a different real estate agent. They go over all sorts of things and may find a way for you to duck pmi and still not touch that Roth IRA.

personalfinance

Fernweh5717

t3_b2rvqx

yes_its_him

eiunlzk

KiniShakenBake

eivwlil

Seller's agent tried to end-run with our loan officer

We just made an offer on a place in Silicon Valley. The market being what it is, we came in a little over asking. However, the property isn't getting multiple offers right now, as the insane highs of spring have cooled a bit. Apparently the seller's agent called our loan officer and asked him how much headroom we had. Our loan guy wasn't impressed, told him nothing, and told me about it. Is this standard? Slimy? What would you do in this situation? Should I just brush it off, or is this a sign of trouble to come later in the deal?

the sellers have a good listing agent and you have a good loan officer. the listing agent has no obligation or loyalty to you, only to their clients and they've done a good job gathering as much info about the buyer (you) as possible. 80% of loan officers would have given up the info (primarily because they don't know better, very few would purposefully sabotage your negotiation position), so well done you for getting a good one.

In Silicon Valley it's still standard to have multiple offers, even in June. So I'm suspicious when you claim the lack of offers in an extremely hot seller's market has cooled. Two topics: Have you checked comparable houses sold in the past 90 days? Maybe the place is overpriced and not getting offers. That could explain no offers. Has the house been on the market over a month? Have they lowered their list price? In a hot seller's market, more than a month with no offers signifies something is very wrong. Make sure you understand what that is. It's also possible you're using the term Silicon Valley loosely, and are looking in an area farther away from the Silicon Valley giants (Apple, Google, etc).

RealEstate

themadninjar

t3_4o7ukh

novahouseandhome

d4abbs4

rebalance_investor

d4agiql

2013 tax refund was $2500, this year we OWE $1400. What can we do to prevent owing again next year?

Married, filing joint, 2 kids. Numbers come from using Turbo Tax. Our taxable income did increase $17400 from '13 to '14 because I worked a full year at my job versus being unemployed for 6 months in '13. We also received a $4800 moving credit and a college tax credit in 2013 that we did not get this year. I am still a student but it did not allow me to use the credit again this year. We owe the Fed $176, Missouri $281 and Illinois $944. I get confused on the IL/MO thing. We both work in MO but live in IL. Husband's HR office says we DO NOT file to have IL taxes deducted and mine says WE DO. IDK what to do. My inlaws have been living in IL, working in MO for decades and they report never having IL taxes out and never owing IL. This year it says we owe IL, last year we paid nothing. We have our federal deductions at 4 on both of our checks and our MO deductions as 4 for each of us as well. Again, not paying out to IL at all (which could be a mistake). Do we have our deductions set up properly? I'm guessing "nope" if we owe so much. We do not own a home and always take the standard deduction.

You need to look at your tax return again, and your Illinois taxes seem to be off. Since you paid income tax to Missouri for the wages you earned while working there, Illinois will give you a credit for those taxes paid so you won’t end up having to pay twice for working in another state. Make sure to use all the appropriate forms, and double check everything.

Owing money to the irs is like getting a short term loan from Uncle Sam. Getting a refund is loaning money to the government. Use the calculator and withhold less, invest the extra short term and pay it back when due in April.

personalfinance

thebabes2

t3_2w7qcf

ed_lv

t1_coob41o

coob41o

Airbornepinata

t1_coouuww

coouuww

Emergency fund advice

I know the typical advice for emergency funds is 3-6 months of expenses; however, I’m interested in diving one level deeper and gathering community strategies - as in, what qualifies as an emergency and how might it be funded. *the intent is to responsibly maximize mid-long term investments by rightsizing our e-fund. For example, in the event of a lay-off - my company has a written policy. At my level I’d be offered 1 year base salary plus cobra. In the event of a medical emergency, I carry insurance plus a 5k HSA balance. If I consider other minor events like car trouble, plumbing emergency, etc., that’s a few thousand in cash or credit availability. Other major events include house fire, major flood, earthquake - all of which are insured but perhaps need a month or two of expenses to cover any gap? What are your thoughts? What am I missing?

Other emergencies: -You get cancer in November, max out your medical out of pocket max for two consecutive deductible years by the following February, and need to take an extended absence from work. -You unintentionally use very expensive out of network medical services and max out your out of network out of pocket max. -Your parents, your spouse's parents, your spouse, or your dependent experience devastating injury, and you need to take multiple long absences to arrange their care and help them recuperate or place them in a care facility. -You get fired, and you do not qualify for a severance package. -You are sued and need to hire legal counsel and take time off work. There may or may not then be a subsequent judgement against you. -You are (rightfully or wrongfully) prosecuted for a crime. -You or a dependent begin suffering from severe mental illness. -Your child willfully causes massive property damage that you are now liable for.

That definitely makes sense. I don't own my home but I do think about my health insurance deductible, what my job offers if I go on short term disability, car issues, etc. So I like to make sure those things are all covered at the very least.

personalfinance

braveheartandsoul

t3_a65sjr

TickledPear

ebs92t9

fragilebird_m

ebs40az

Does Warren Buffer's company buy stocks on the open market?

I know investors can get private placements, but I'm just wondering in the case of Buffet, does his company buy stocks on the open market, or private placements, or both? Cause I'm looking at BRK's holdings and he's got substantial stake in many large corporations such as Heinz, Wells Fargo, Amex and Coca Cola. I'm just thinking that if this was done mainly on the open market it would have driven prices up crazily. Just want some confirmation as to how Buffet and his company acquire stocks. Thanks!

buy stocks on the open market, or private placements, or both? Both. Of course you need to define open market, once a company like BRKB decides to take a position they don't execute 1 single buy for the entire position, like you said it would spike the market, but they: execute small buys spread out in time, for each buy almost matching the ask order size and almost matching the ask price Dark pools: large institutional buyers wanting to unload large positions (worst problem) and wanting to take large long position use these dark pools where the orders are not really transparent, and then execute the trades 1:1 facilitated by a ECN (Electronic Communication Network) A mix of 1 & 2 above.

Yes, Berkshire buys stocks in the open market along with buying out entire companies. Berkshire's purchases do impact the stock price. They tend to spread out the purchases over a long period of time to reduce the impact as much as possible. With that said, when it is announced that Berkshire is purchasing a stock, the stock gets an almost immediate bump. In fact, when it was revealed that Buffett invested $600 million in Coke back in 1989, the New York Stock Exchange had to halt trading on the stock to keep the price from skyrocketing. If you are interested in tracking what Berkshire is buying and selling, you can check it out here:

stocks

learner1314

t3_608ub2

PM_ME_BOOBPIX

df4kfp4

valuestockgeek

df53o2l

Is it bad etiquette to go see places without my broker?

I'm looking to buy a condo and I've found a buyer's broker who I like working with and who I trust, but I don't think finding me a place is at the top of her to-do list because I'm looking at very inexpensive places in a very pricey market (if I were in her shoes, clients with larger budgets would definitely come first). I'm a first time home-buyer, and I don't need an agent to find places for me, I'm just using one because I'd like guidance through the entire process. So, I don't really care if my broker is with me when I've viewing places, but is it horrible etiquette to arrange appointments and go without them? I'm just getting my feet wet and I want to look at as many places as possible, yet my broker is only arranging a handful of places every other week. I've made it obvious I'd like to look a places more often but I also don't want to completely waste all of her weekends.

Yes and no. If you go walk through some open houses, no. If you call the listing agent and ask them to meet you at the home and start that phone conversation with "I have an agent I'm working with, but they are in appointments all day, but I really like this home and would be very interested in putting in an offer with MY agent if I like it as much as I do in the pictures", then again, I wouldn't be offended. I have been in that position before and you know what, 99% of the time if I am that list agent and I am free I will go show that home. But don't drag it out and try to hide the fact you have been working with an agent to the listing agent. Just be up front, it always ends up better that way. If you call a list agent and tell them you have an agent, and you go meet that list agent at a home and they try to talk you out of working with the buyers agent and just working with them instead (because they know the sellers, will get you a better deal,etc) RUN away, you do not want to work with someone like that.

Have you signed a buyers brokerage agreement with her? If so, other agents probably won't want to waste their time with you because she is your exclusive agent - and that means they are cut out of any commission. If you haven't signed anything, DO NOT sign with any agent until you are ready to make an offer. Otherwise - go ahead - make appts with everyone else and look as much as you want.

RealEstate

goodsandwich

t3_19vw4y

drewcantdraw

t1_c8rsuek

c8rsuek

NeeNee9

t1_c8rsay2

c8rsay2

Could someone with $15k as an emergency fund in a savings account go ahead and keep $30k in an SP500 index fund instead?

If the market drops 50%, you still have enough for your 3-6 months of expenses (an actual emergency fund). If the market continues to rise (as it traditionally does) it'll do so at a rate greater than the 1% savings account and you make more money. This wouldn't be a trading account; its buy and hold with index funds only. Anything getting in the way of making this not a smart choice?

Possibly the fact that if you have to pull the investments during a down market to use as emergency fund, you eat the 15k loss and are not able to gain it back when the market recovers. So yes that should work in theory for an emergency fund, but it makes the investment super high risk because if the market dips and you lose your job at the same time (which can be very correlated) you end up losing the whole investment rather than being able to wait it out and ride the recovery back to your original investment. It seems your goal of putting it in the market is to avoid the "risk" of low 1% returns on your investment. But you end up exposing yourself to a whole lot more risk by investing it. If you put 15k in the market and 15k in savings and the market crashes and you lose your job then you can spend the 15k in savings but you still have 7k invested. Over time that 7k will rebound and you will get back to 15k and then even more. With everything in the market you end up with nothing and then have to start from zero.

You can also change the asset allocation instead of 100% (SP500) to something like 30/70 stock/bond split. Betterment has an article that might interest you. But really, it depends on your risk you are willing to take. Personally, I have 2 months worth of EF in the saving account, and the other 4 months in Vanguard Wellesley.

personalfinance

KidsWifeJob

t3_6r95s7

usacashoutsma

dl3apwc

reheapify

dl3qmy8

$2k remaining on interest-free account, due in 3.5 months. I have the cash on hand. Go ahead and pay it?

I had a surgery performed in summer 2012, the cost of which was put on a GE CareCredit no-interest account. I've been making minimum payments, because hey, 0% interest (this month is about $70, and it goes down $2-3 each month). The remaining balance is right at $2,000 and is due on July 4th of this year. I have this amount already set aside in a separate savings account that I made specifically so the lump payoff amount wouldn't surprise me; I've just saved up to the payoff amount a little quicker than anticipated (a good problem to have, I guess). I'm debating whether to sit on the money or just go ahead and pay it off and apply the gain in cash flow to something else (retirement account or student loans). My gut feeling says that since it's 0%, I might as well make minimum payments. However, it's due in only 3.5 months anyway, and the best I can do is a CD that'd get me about $6 (not worth the hassle). Paying it off now won't affect my emergency fund (FWIW, if you saw my previous post, the cash on hand that I'm referring to there is already taking into account that this $2k is set aside—i.e., in that post, my actual cash balance is $14k, not $12k). So, am I going crazy here, or does it actually make sense to go ahead and pay off the 0% loan a couple months early? I suppose the alternative is to take this $2k cash and apply it towards my student loans in addition to another $7-8k that I'm about to apply towards them, then set aside a few hundred per month to rebuild this $2k.

To me a peace of mind knowing the debt is gone is worth a few bucks in potential interest. Just pay it off, and then focus on your student loans.

Pay $500/month on a schedule that allows you to make the final payment prior to the end of the teaser rate. If your monthly cashflow allows, pay the first of the last four payments of $500 then apply the other $1500 towards your student loans then retirement (I am presuming you have no other debts since they were not listed in this post). GE's CareCredit card is nasty. Even with my 760+ credit score, I still have a ~26.9% interest rate. If you miss just $0.01 on your bill when the teaser rate gets eliminated, you are contractually responsible for all the compounded back-interest. Do not miss the deadline, but don't ignore the time value of that $2,000.

personalfinance

cashkoala

t3_20n0t5

ed_lv

t1_cg4tsxy

cg4tsxy

THUMB5UP

t1_cg4vnc8

cg4vnc8

Employer accidentally direct deposited money

My old employer from about a year ago accidentally direct deposited two payments into my bank account 2 weeks ago. They recently called me and told me they messed up and want the money back. They asked that I write and mail them a check back. I'm wondering that if I do this will the money still show up as income on my taxes and if so is there a way that the company can just reverse the direct deposit?

They should be able to reverse it on their end as an error. I personally would give it at least another two weeks, maybe more, before writing any check. You don't want to be in the situation where they get your check and also a reversal of the original deposit.

I'm wondering that if I do this will the money still show up as income on my taxes No. if so is there a way that the company can just reverse the direct deposit? Maybe. But it sounds like they've asked you how to reasonably fix their mistake.

personalfinance

Taco-Cat69

t3_cb5gut

jellicle

etd7czj

Werewolfdad

etd6ceq

Friends terminally ill grandmother is making her sole beneficiary of her life insurance...so the drama begins.

Title says it all really. She just told me about it today and has absolutely NO idea what she is going to do. A lawyer met with her already and informed her its a sizable amount. The grandfather is super upset and her own mother is now trying to get her hands on it. She is only 19 with no real savings at all and has to constantly bail out her mother financially. She even opened a credit card for her mom to use when she was desperate (i know, bad situation). So naturally she is terrified what is going to really happen now that greed is starting to set in. I told her she needs to open a new bank account that is completely separate from where her mother banks as well as put a freeze on her credit so her mother couldn't open credit cards under her name. But other than that, I don't really know what to tell her to do when she gets that money. Any help would be greatly appreciated! &x200B &x200B

Best non biased advise I can give you is make sure the grandmother is in a state of mind where she can make good and clear decisions. And if that is truly the case to get a medical professional who is willing to put that in writing and confirm the clear state of mind behind that decision. This is important if the estate eventually gets challenged and there are lawsuits being thrown around relating to a sudden change. As long as the grandmother’s wishes are being fulfilled legally relating to her portion of her finances this is probably the best way to go. Edit. I have had a long week so I was drinking when I first posted this. And I’m drinking tonight after another long day of work. I understand that the life insurance doesn’t exactly pass through the estate. But dependent on the state if someone tries to challenge it, it can end up in probate so still better safe than sorry. I haven’t handled your exact situation. I’ve worked in litigation for 15 years and only recently joined a large law firm, one of the few with estates as one of the specialties and have dealt with multiple probate litigations although the way our firm is structured I’m not really involved from start to end. But leaving a good paper trail to defend yourself (your friend) is what I’ve learned most in my years of litigation. Whether or not it happens and ends up in probate or not.

Friend's* terminally ill grandmother friends = more than one friend it's* a sizable amount it's = it is or it has its = the next word or phrase belongs to it

personalfinance

Chefnut

t3_b6tkfl

Contrarie

ejn3sdh

aazav

ejnpz6e

How do you decide when to sell a stock?

I have gotten fairly good at picking stocks, but I'm terrible at selling them. Once they go down I want to wait to sell until they go back up. Then, they either go back up, so I want to stay in for the ride or they just keep going down and I don't want to finalize my losses.

It helps to have a plan when you make the initial trade. Ask yourself why you bought it in the first place. Was it a long term investment, or a short term trade? What has changed in the company since you bought it, earnings etc. Also, if you keep a trading log you can get an idea for how much of a gain is a "good" trade for you. If your average winner is a 15% gain and you have a runner that is up 30% then maybe its time to take some profit. It also depends on your individual level of risk tolerance. There is no rule that says you have to close out the entire position, you can always sell half.

Once they go down I want to wait to sell until they go back up I'd recommend utilizing Stop Loss and Limit Stop orders. Both have their advantages. Both have pro's and cons, especially if playing a volatile stock. With the Stop Loss, you risk getting filled lower then your stop. However, with a Stop Limit, you risk not getting filled at all if the price doesn't go up to your limit sell that's set, after hitting the stop. Then, they either go back up, so I want to stay in for the ride You need to have a price target in mind when you enter a trade. Personally, I have a price target and also wait for the stock to become Overbought , and the other indicators I use to give me a sell sign, for me to get out. Usually this allows me to get out as close to the top as possible.

stocks

bendover912

t3_4b355o

bitanalyst

d15nphh

organicpastaa

d15teax

When is it worth not fixing a car and what are the options in this scenario?

So I have this 2010 corolla (70k), paid in full, clean title. Very well maintained, never missed a scheduled service, all done at reputable shops. Everything was super duper until this latest service appointment when I found out that apparently the car is falling apart (Timing Cover Reseal including crank seal, tensioner o-ring, oil filter housing seal, and water pump replacement) along with excessive rear tire feathering. All in all, it would cost around $3000 to fix everything (aside from the wheel alignment issue). Initially I thought that the shop is trying to scam me so I went to an independent mechanic and I just told him to do a full inspection and he came up with around the same estimate.. Disregarding the fact that I'm a little pissed because I choose this particular car to not have to deal with this crap and I really tried to do my job by maintaining it properly, now I want to get rid of it. KBB tells me that this car is now worth $6000 - $8000. A $3000 repair bill is almost 50% of the car in (what I assume to be) its fixed condition. From a financial standpoint (this is really the only thing I care about in this scenario) would it make sense to fix it? I tend to no as the last repair would need the engine taken apart and I'm not sure how much money I'd have to 'invest' in it in the following years just to have it run properly. I was reading online that the rule of thumb would be that if the repair cost is larger than 50% of the car or larger than a year worth of payment for a new car, repair is a no-go. Would trying to have the dealer buy it back or trader-in for a new model be a better idea? I know it would be bad initially from a financial perspective but I'm thinking about long term cost of ownership. I paid around $17.000 for it and until this day I will reach >$22.000 for this car, at around $3666 per year or $0.31/mile. A new car would have at least 5 years warranty but would set me back around $18k - tradein value (probably around $4000). I'm trying to avoid the sunken cost fallacy by asking for different opinions.. EDIT: Thanks everyone for the answers. I will most likely keep it and further care for it. I'll go ahead and put a board under the car to see how much it leaks if any and find a 3rd opinion\quote, after I fix the alignment and change the tires. You people have changed my perspective on cost of ownership. Thank you.

mechanic here - it's about $300 to $400 worth of parts, the rest of it is labor. $3000 you are being taken for the best ride of your life. Corolla's are notoriously easy to work on, any competent mechanic can get those thing's done in about 4 hours. The rear alignment is about $75. $800 to $1000 at the most.

An exorbitant labor rate is $130 an hour. For a Toyota it's usually well under $100. Even pulling apart the front accessory drive that's only like a 6 hour job, and the parts should be no more than about $300 on the very outside. So worst case should be no more than $1000, labor included. You could literally replace the engine in that car for $3000, as good, very low mile used engines for the car go for no more than $1500, usually around $1000 and remanned engines can be had for around $2200. So a gasket and water pump replacement where the engine doesn't even have to come out, for $3000, is absolute robbery. Find a better shop.

personalfinance

decebalus1

t3_5d38mg

s3trios

da1dxjg

THEREALCABEZAGRANDE

da1omhn

Listed House For Sale Too Low, Getting Many Offers, Do I pull from Market and Relist or Jack it up now?

Zillowestimate for my House currently is 715k Listed for 710k Mid '05-'06 it was over 915-930k... Lowest value in 10 years was 658k High-Low average is 786k I want to relist for 800k and let people chew me down from there. House is also in a consistently Top Ranked American suburb (in NJ). What should I do?

You're in a decent position. Listing low and instigating a bidding war can be good for you. Just inform all parties that you have multiple offers and are asking for highest and best.

You don't have a realtor do you? If not, get one immediately. If you do have one and they referenced the Zillow estimate to come up with your homes value, fire them and get a new immediately. Zillow in no way, shape or form reflects the actual value of your home.

RealEstate

DonPivotal

t3_36wtxx

DCCWA

t1_crhsg8n

crhsg8n

Pappy091

t1_crhrraw

crhrraw

Salary review coming up and I'm guaranteed a raise, it's just a matter of how much. They want to give me added responsibilities too, but if the raise is too low, should I decline the added responsibilities?

I work at a small real estate advisory company (<25) doing marketing and graphic design (only one on the team), but I also do HR work and random tasks no one else wants to do. I've been here for around 10 months. Despite being small, we definitely make money and have hired 2 executives in the last 4 months and a new junior employee. My current salary is $38.4k (~$18.46/hour), and in the research that I've done, I'm being underpaid by about $8-12k. I have about 3+ years of experience. My boss mentioned during my initial review last week that I'm not being fairly compensated for the work I do, and when discussing what I'd like to be paid, I shot for the stars and said $25/hour (~$50k). They also mentioned that they'd like to give me added responsibilities if I'd want it. If they low ball me and give me <$42k, is it bad to decline the added responsibilities if I feel like I'm not being fairly compensated for the work I do now, let alone more? I've heard from other employees that the management tries to sometimes add work but don't necessarily like to pay for it and I don't want to fall into that because I feel bad or something. Any advice would be great. EDIT: I just met with both my bosses, and they initially proposed some incentive-based program where I earn commission off deals I work on. The thing is, I wouldn't be working on deals ALONE and I'd be coming from a marketing standpoint, so I'd be trying to get the word out about our products, but if someone in sales dropped the ball or those delivering the presentation etc., then we wouldn't get that signed contract and I wouldn't get that deal. I'd also most likely make <4-5% because everyone else (including the company) will be taking their cut. I respectfully declined and said that I'd be more comfortable with a higher base salary and we agreed to $23/hour starting June 1st, and then a bump to $50k starting Jan. 1. Thanks for all your advice/feedback/help, PF!

I would accept basically any raise and new responsibilities that get thrown at you. If they meet or come close to your \~50k request, then stay at the company and keep trying to grow more. If they lowball the raise (under 42k-ish, like you said) but want to add responsibilities ... say yes to it all, but start looking for a new job. When you get an offer you can bring it back to them and ask for a counter, or take the new job.

If your boss openly said you weren't being compensated for the work your currently do, I wouldn't be worried about getting low balled. Maybe for a short period of time, but it sounds like you would eventually be getting paid for your responsabilties. Their strategy might be to see if you can handle it first and then add on extra pay. Extra responsibility has its own perks. I would be more concerned with rejecting a raise or responbilities than being under paid when offered more.

personalfinance

MattyKG

t3_8ltcar

hankeroni

dzi7vbd

janmichealvincentIV

dzilj0y

Being transferred to a new city but my current home is "under water". Options?

Hi everyone. I've created a throw away account and I'm ready to lay my finances out for inspection. I am married and have two school aged kids. I live in the U.S. and as stated, I'm accepting a promotion at work which requires that I relocate to a new city and state. I will be moving at some point in the early part of August this year. I have a home that is in poor physical shape (structural problems) as well as being "under water" in my mortgage. Selling it to break even or for profit is not possible at this point. Here's how this lays out: Combined household income is currently $66,000/year but this will jump to between $88,000 and $90,000/year once I’m in the new position at work. I need to spend approximately $20K in order to fix structural problems on the home. Once structural problems are repaired the home may sell for $80k (per a realtor who visited my home a couple of weeks ago). The current Mortgage balance is $89,000 at 3.75% fixed APR for monthly payments of $646. I have a closed line of credit (This was opened years ago to stop the house from sinking) with a current balance of $18,300 at a variable rate of 7.0% for a monthly payment of $225. Thus far you can see that, for the home, I currently owe $107,000. I would need to come up with an additional $20,000 in order to sell it for (Hopefully) $80,000. This leaves a nice $47,000 gap! Other financial info to inform your opinions and suggestions: Student loan balance of $7,977 at 7.5% fixed. Monthly = $210. Car loan balance of $8,500 at 4.74% fixed. Monthly = $166. No credit card debt. Savings account balance currently at $6,075. No retirement savings as of yet. (This really scares me because I’m too old to have gone this long without putting money away.) Net income monthly = $4,200. Outgoing monthly (groceries, gasoline, mortgage, entertainment, etc.) = $3,900. Admittedly we have not been fastidious about our finances to this point and simply putting the figures together for this post has been eye opening. What do you all think? What’s my next move and how do I straighten this out to set my family on a better financial path? Thanks!

So don't sell it. Rent a cheap place in your new town, and rent your home out to someone you know and trust if possible. At worst, charge a token amount to a friend with the understanding that this person will be responsible for caring for property while you are gone. Wait for the market to recover and your loan to float back up. You clocked your total debt's monthly cost at about 1,300 so yeah, 3900 is a ridiculous number for total expenses. Examine your budget and see where you are bleeding money, bandage it up.

Rent it out. If you are uncomfortable renting the place yourself, you could hire a local property manager. That will decrease your revenue stream from rental income, but may be worth it if you want to avoid all the management issues with renting.

personalfinance

BDNTA

t3_2zuo2u

tealparadise

t1_cpmhul2

cpmhul2

a_wright

t1_cpmjh0x

cpmjh0x

How reliable of an "indicator" are insider transactions ?

How much value to give recent insider transactions when you consider going long short ? I have a substantional position in CSCO and recently noticed a flurry of sales from a variety of insiders. The stock pushed very high, so i can see how there would be some merit in closing off. However, i still think that CSCO can leverage both 5G as well as the (questionable) push from the US in regards to Huawei. With the insider sellings however, i think its time to call it quits.

Insider selling is almost always scheduled far in advance to avoid any appearance of insider trading. This is, for many executives, on a set schedule that essentially gives them a “paycheck” on the regular. As such, you can’t take insider selling alone as a signal you should sell. Even if you see it’s not periodic, it could simply be that money was needed for a one time payment. For all you know, they could just be making their latest payment on that property they just bought in Beverly Hills. In an extreme example, maybe they went through a divorce and the sale is to give their ex a payout. CEOs—they’re just like us! Insider buying, on the other hand, does tend to signal an executive’s faith in the company and their perception that the stock may be undervalued. Just keep in mind the insider might not be right in this case either.

If stock sell-offs by insiders were a sign that the company was doing poorly, why would insiders drive down the value of their company even further by selling off their stock and raising a red flag? In general, holding large amounts of your company's stock isn't a good investment strategy because you're not diversified. If the company fails, you lose your salary and your investments become worthless.

stocks

WillBurnYouToAshes

t3_awgylb

sokpuppet1

ehmfvh5

awesome_blossomed

ehmxk4b

Why did the Dow rally during 1918-1919?

Interesting piece of history here, but the Dow returned 10.51% in 1918, and 30.45% in 1919 amidst the greatest pandemic in modern history. The death toll estimates range from 17M-100M. This ravaged New York, London, Paris, and Berlin, four of the most important cities in the global economy. Death toll in the US was an estimated 675,000. This was, by all accounts, far worse than COVID-19 in terms of the impact we're expecting. Can someone offer any kind of insight into why the stock market rallied during the Spanish flu?

Market was essentially useless data back then. About 20 companies made up the DOW in 1916 "Gentlemen buy bonds" was a common philosophy Stocks were seen as gambling, brokers pretty much hung out in country clubs and sold large lots between super wealthy people.

Inflation was about 15% in both those years and the Fed was printing money (they started during the war and didn’t stop till 1920). Highly recommend a book called “Anatomy of the Bear” by Russell Napier, which says “It was to be expected that the cessation of hostilities would depress the high levels of war demand, and bring about economic contraction. Just such an economic decline began in August 1918, even before the Armistice. But while many expected a prolonged decline, the contraction had run its course by March 1919. The public shifted to holding less cash than it had in the war period, and more deposits. This return of high-powered money into the commercial banking system helped to stabilise monetary growth. Just as important were the actions of the Fed Board, which kept interest rates low through 1919 and at a significant discount to market rates. This further encouraged member banks to borrow from the system and increase lending. The Fed justified its action as necessary to fund the government’s floating debt and to prevent a slide in the price of government bonds, now a key asset and source of collateral to the banking system. In performing this support operation the Fed stretched the elastic currency as much in this postwar period as during the conflict (see Figure 3). Although there was significant debate within the Fed and the Treasury, the belief was that somehow the system could distinguish “legitimate” borrowing from “speculative” during this period of artificially low rates. This was not the case, and a speculative bull market in industrial equities and commodities raged through 1919. It had long been a basic principle of investment that wartime inflation would be followed by postwar deflation due to the operation of the gold standard. However, now the reverse occurred as the Fed stretched the elasticity of the currency even further to assist the government with its funding requirements. Investors playing by the old rules missed the bull market in stocks and commodities in 1919. It was in this postwar period that investors seriously misread how the monetary system would operate. The ability or willingness of the Fed to exercise the power of elasticity was subsequently misconstrued due to its activities in 1919. Many assumed the Fed’s willingness to stretch the elastic currency had sufficiently circumvented the operation of the gold standard to prevent any future dramatic rise in interest rates. The Fed, which provided the system with no credit prior to November 1914, was providing around $3 billion by the end of 1919, a sum equivalent to almost 4% of GDP. With Fed credit rising from a base of zero, it was not surprising that some investors could believe that much higher levels of elasticity could be permitted. In this new environment, it was believed that borrowing funds for speculation in rising asset prices was a lot less risky than it had been before the birth of the Federal Reserve System. It was this misjudgement by investors that led, after the stock market party of 1919, to the more painful hangover of 1920–21.”

investing

TheCandyMan25

t3_fw6a7v

ApolloGreed76

fmn5pbd

isezno

fmpb3h4

Should I contribute to my 401k, even if my company waits a year before matching?

I'll try to keep it short. I just joined a new company, which offers a 5% match. However, they only do so after one year of service, although they will retroactively match the first 12 months after as well. I'm leaning towards contributing, because I'll eventually get the matching anyway. Just wanted more opinions. Thanks.

yes, you should. Its tax-deferred and a good way to start building some savings. Lets say you contributed $5,000 this year - in 30 years, that would be an extra $21k in your savings kitty at a 5% compound rate of growth. Lets say you saved that $5000 not in your 401k and paid a modest 20% taxes on it today and 20% taxes on any interest / capital gains you make on investing it in your regular bank / brokerage account. In 30 years, that $5000 at the same 5% growth will be worth.....drumroll.....only 12.5k Not to mention you will likely spend that $5000 and not save it, in which case it will be worth $0 Start a 401k as soon as you can afford to put money away. You will be grateful for it later. EDIT: Also I didnt even read about the retroactively matching. In that case its a no brainer.

I don't know why no one sees the trend of people posting here with large car, credit card, and sudent debts whiel sitting on tens of thousands in a 401k. It's quite ridiculous. I'm all for saving. But don't lock your money in a 401K until you have your debts at or near zero (except for a mortgage).

personalfinance

jay_gaz

t3_37ldn3

sherman1983

t1_crnmmm8

crnmmm8

williamwilliam2

t1_crnn2su

crnn2su

Starting first adult job, how much to save in 403(b)?

The premise: First job as a teacher, earning $50k/yr gross in high COL area. I will also be receiving a $1200 stipend and can work in the summer to add 3-5k. 11% of my salary is already being deducted for my state pension, but I am looking to also save in a Vanguard 403(b). However, I am not sure what % of my salary I should put in given that I still have loans to pay off. Realistically, I cannot afford to put much in, but I don't want to miss out on building my savings. After all of my deductions (pension, taxes, union dues), I've conservatively calculated my takehome to be $2700/m. I think I am lowballing this and it should be more like $3000/m but I want to be safe. Expenses (so far) per month: Rent - $1250 Utilities - $100 Transit pass - $85 Student Loans - $1000 (4 private loans @ $200/m, $200/m for PSLF-eligible federal loans). 3 private loans are @ 8% while one is @ 11% ROTH IRA - $50 (when I was a student, not sure how I will adjust this) Groceries - $200-250 Eating out - $50 Personal items - $30 Clothing (need to build new professional wardrobe) - $50-75 Right now I am already in the red/breaking even, but I still have a four month's grace period on my loans to build up my emergency fund (I already have about $2000) and get a jump on that horrific 11% loan. I am not sure if it is worth it to refinance them. I am coming off of a year of not being employed (full-time student teaching) so my finances have been severely depleted. I know that the numbers are grim but I have a guaranteed 4-5% salary increase each year and I hope to move into the next salary lane ($1000/yr in tuition reimbursement...) in a few years as well. My loans suck but I knew what I was getting into and for my career (I teach in a niche high-needs field in a great Title I district) it was worth it. tl;dr: 403(b) option in pensioned position but budget is already stretched to the limit. how much to save at this point, if at all?

Read the Prime directive. Generally rule of thumb is you should be putting away 15% of your income (including employer's share) towards retirement. You are already doing 11% to a pension. If you do an extra $600/year in Roth, that is another 1%. Do you get any employer match for the 403b? If not, I would contribute more to the Roth IRA instead of the 403b. Overall, I think you are in good shape as far as retirement, since so much of your current income is going towards paying off student loans right now. Once those are paid off, you will be able to start catching up on retirement savings. Plus guarenteed 4-5% raises is pretty good. Just keep throwing the extra money towards debts'savings and try not to let lifestyle creep set in. Your biggest hurdle is going to be cash flow. How often do you get that stipend? With your salary, most of your income is going to be gone after rent and loan payments

save every dime you can.. live cheap because the money you save now is the money that MATTERS.. this is the money that GROWS for 50 years.. money saved in you 50's and 60's you get back pretty much dollar for dollar but the money invested in your youth... that's what you live on when you get old.

personalfinance

alltheretirement

t3_97rwmc

BasicBrewing

e4aezdm

Dwaynedibley24601

e4al7dk

Is technical analasys just voodoo nonsense?

All this charts dissecting can't be Serious can it? So many people do it though what Am i not getting?

Depends on what exactly you mean by technical analysis. Paying attention to basic stuff like support and resistance lines, moving averages, trading volume, etc is critical. Drawing exotic chart patterns and making inferences from them is less useful.

I saw a livestream of a bitcoin day trader who said that people should buy when the graph does two ups and downs (he called it a camel hump or something similar), because that’s what the graph did one time before it shot up by like 200%.

investing

wesred

t3_8t66x3

thenewguyonreddit

e155a03

Puccolol

e15w6j4

What to do with Employee Options?

Hey guys First time posting here, and please let me know if it doesn't belong, happy to take it down. Long story short, I recently got a new job. As part of the last company I worked at we received options. It's a privately held company which is funded from investors/venture capitalists. They are net negative in terms of operating and the CEO has mentioned a few times that they do not plan to go public; however, I wouldn't be surprised if they sell the whole platform (SaaS) to a bigger company within the next 2-5 years. Right before I left, I received an email stating 750 of my options have vested. And then since I left to go to another company, I have 90 days to determine what to do with them. That said... I don't know really understand what this all means, what actions I can take, and lastly, what options should I take...? Looking for any advice or insights. What would you do in my situation?

Do you think the stock will be worth something someday? Either the company gets acquired or goes public? Will the stock be higher than our option strike price? If yes, exercise your options. You'll then own shares in the company. If not, no action is required.

First question you should ask yourself and yourself only is what do you see that Company as a long term investment? If the answer is a fairly good investment, then ask yourself what that Company is worth. If you don’t have any friends that work in Finance department, then it would be hard to find out.

investing

BFTisme

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Presitgious_Reaction

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Girlfriend's dad is pulling financial support, how can she pay for school/life?

My girlfriend (soon to be 21) has not lived with her father for 10 years. For the past 3 years she has made more than $5k per year part time while in high school and college. Her father was paying for her education, but just told her that he would no longer support her. Further, he has claimed her as a dependent on his taxes for the past few years. She has never filed taxes. Where do we even begin to see what she qualifies for in terms of financial aid? What steps should we be taking to ensure that she can afford to stay in school ($10k per semester) and stays out of tax trouble?

Fill out the FAFSA and if she's having money withheld from her paychecks she should be filing taxes otherwise she's probably missing out on a refund. That's one way to get her dad to not claim her.

Go to the financial aid office and ask them what’s available, but think very, very hard about whether or not you want to borrow large sums of money at an interest rate that will change. It’s not necessarily a good idea to stay in school if you can’t afford to. Work work work.

personalfinance

SirSquonkington

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BlazinAzn38

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TheSahj

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SO and I are getting married next year and planning to combine finances. Are there pros/cons to combining before or after the wedding?

We both make about the same and have great credit and I'm not as worried about the "risk" of not actually being legally married (i.e. the wedding falling through or him taking my money). I am more curious if there are any tangible monetary or convenience advantages to combining before or after we're actually married?

My wife and I have a joint spending and saving account, but also have personal spending and saving. The joint account is for bills and personal is for personal. It depends on you and your SO.

The only benefit to do it one way or the other is convenience . My wife and I opened a joint checking and savings the day we got back from the honeymoon and deposited all of our wedding checks. We closed our separate accounts at the same time. It’s so much easier to have all of our money in one place. I don’t have time to figure out who’s paying what every month. My wife went to grad school and had zero income for three years, so having one account makes it easy to adjust for different situations and it doesn’t matter who makes what. It all goes in the same pot.

personalfinance

sunnysideup18

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Nutrition_Pro

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bone74verizonnet

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I am 20 years old (Male) just recently was dropped by my parents health insurance.

I do not know why I was removed from the health insurance but my parents just informed me of it. I am 20 years old and work part time for a good company but they do not offer benefits unless I become a full time worker. The problem is that I am a full time student and by going full time at work it would be a guaranteed 9-10 hours at night. Is there anything i can do without going full time at work?

Under the affordable care act, you should be able to stay on your parent's health insurance until the age of 26. If you are unable to get back on your parent's plan, many schools offer student health insurance plans. These plans are often covered by financial aid, so this is an avenue worth exploring.

Is there anything i can do without going full time at work? It looks like no one's confirmed that yes, you might be able to do something to rectify your situation, but you need to gather facts on what's happened. Then you and your parents may need to work together to lobby your parents' health insurer to correct the 'administrative error' that resulted in your loss of coverage. My personal feeling is, the larger the employer, the more probable you'll get a 'fair hearing' and the remedy you hope for - but in any case, get your facts together and draft a memo laying them out, plainly and simply (1 page should do it), for transmission to whomever may act on your appeal, from HR administrator to SVP HR.

personalfinance

Beastlybeard

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Mstolly

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IamGregJ

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Corona Virus has over 100,000 infected people - Confirmed

Hi everyone, Just came across some very interesting information. There have been about \~2800 cases confirmed of this virus, but wouldn't it be excessive for the Chinese government to shut down the entire city of Wuhan just for this number? &x200B There is a grave issue at Hospitals in Wuhan; they have run out of test kits for the corona virus. This only means that doctors can no longer confirm cases which raises the question about how many people are actually infected and how long has this been going on for? In the second video, a nurse describes the real situation of this virus in horror and mentions that doctors estimate that there are over 100,000 people infected. They ran out of testing kits, beds, and are only giving hormones and anti-inflammatory drugs to patients. Even if the person is infected and does not die, this virus will knock them down for several weeks while they recover. &x200B The main concerns now are, how much has this virus spread across China? What will happen to the factory workers? How will this impact manufacturing, ecommerce, etc... if there are no workers at the factory or they are short staffed! This could reflect in the next earnings of companies that have exposure to China! Will there be a shortage of chips? &x200B So no, Corona Virus talks are NOT going well! Thank you for coming to my Ted Talk [ _1580024400]( [ _1580017665](

100,000 cases but only 4 made it to the US. Yeah sure okay. Nice propaganda bear boy. Shame you had to throw your brother Winnie under the bus for it.

Not that many. The guy in the video is a pussy coward. The pandemics is going to be stopped in China in Q1. Confirmed. But I’m worried about the US since those embassy employees are coming back without quarantine.

wallstreetbets

DarkVybz

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astro65

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nocandies

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Does anyone have any advice for a frugal, but not depressing Christmas?

I work for a start up that is in the process (we sincerely hope) of being bought out. But I haven't gotten paid since September, and our savings are running out. We've already decided to forgo a lot of Christmas purchases, but does anyone have ideas on how to not feel depressed around the holidays when there aren't many presents under the tree? I know I'm lucky that we have enough money with his job to eat and pay the bills, but around this time of year... It's hard. Also, if/when the deal goes through I will be getting all of my back pay at once, in a lump sum. Advice on how to spend/save it? Should we throw a mini Christmas in January?

Cooking together, and a hot beverage really does it for me. Fireplace is great if you have one, or just a roaring fire youtube video. It sounds cheesy, but embrace the cheese!

Depending on how old your kids are, volunteering at a shelter for a few hours during the holidays can be a really good experience. What about spending time with any family that lives nearby?

personalfinance

Reptar1988

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Tw0R0ads

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the_hangman

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I have approximately $46,000 in private student loans at about an 8.8% average interest rate. I've been pre-approved to refinance them to 10 years and 7% fixed through Sofi. This will lower my monthly payment slightly and save me about $5100 over the life of the loans. If I refinance now, is it possible to do so again later? If not, is this reduction in interest rate worth it or should I wait until I can bring it down even further?

first off - even if your monthly payments are lowered, still look at paying the old amount, that will save you even more money and get you out of debt quicker. Yes, you can refinance again in the future if the rates drop more. but again - no matter how many times you refi - always pay at least the minimums you are paying now.

Sounds like you've got your answer so I've got a question for you if you don't mind. Is the 7% rate over 10 years and fixed? I went with sofi as well on 10 year and was under 5% with the variable rate last summer. Thinking about doing it again to fixed because the variable is more annoying than anything.

personalfinance

Giving_In

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CripzyChiken

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bhundley

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Fingerprint Cards (FINGB.ST): Banks purposefully suppress share price through shorting and low fair value analysis? Anyone have experience with similar cases?

For those not familiar with Fingerprint Cards $FING-B:ST, they are a Swedish company that makes the excellent fingerprint sensors you know from Nexus-phones, Huawei and basically any phone worth owning apart from Apple and Samsung. They were the fastest growing company in Europe in 2015, and at one point, the stock had increased almost 2700 % in a year (25 SEK to 680 SEK). They are exponentially increasing their revenue, so the fundamentals are rock solid. And yet, no one knows what the share price is worth: The stock was short-attacked in October 2015 from 530 SEK to 300 SEK (over 40 %) in one day (!), without negative news. Many have speculated that this was done in order to knock out Bull-warrants and Bull-certificates that were becoming too expensive for the banks as the stock just kept rising. As of writing this, 8.5 % of shares are shorted by big banks, and the stock has fallen from 680 SEK to about 380 SEK. Despite record earnings and a constant positive news stream. Forward PE is now around 10 because of this. In an exponentially growing company with near a monopoly on Android fingerprint sensors, excluding Samsung, this is ridiculously low. This has sparked a huge discussion whether or not banks are purposefully suppressing the share price by shorting and providing false analysis (Like the ridiculous 200 SEK price target from a certain bank). All so the big banks can profit from shorting and buy in again at cheaper levels. I'm heavily invested in this company, so I'm asking for advice: Do anyone have experience with stocks attacked in a similar way? Did the stock price ever recover? Is it even legal to do what the banks are doing? TLDR: Banks suppressing share price in an exponentially growing tech company to the extent that forward PE is now 10. Is it legal? Anyone have experience with similar cases?

you ever stop to think that maybe, just maybe, the stock was shorted because it ran up too far too fast? that regardless of 'record earnings', it was still over valued my advice to you is to divorce yourself emotionally from your holdings. It clouds your good sense

How do you know it's the banks who are shorting? Banks might lend shares from their customers' brokerage accounts to short sellers (that's normal business). Banks usually are too stupid to short stocks.

investing

Katana-Bob

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wanmoar

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