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$ADMP absolute confidence thread

Chads only. No virgin weak-handers here, only iron-fisted future tendie holders. Worth noting their last PDUFA announcement was released at 11:30 Pacific, so 2:30 Eastern. I've been watching the chart all morning and after some volatility in the early open (some big buys, maybe some shorts taking decent size positions as well) it seems to be looking pretty good. Buying pressure has slowly been increasing and the bid/ask spreads are relatively stable... for now. Who else is in this?

I am one. Took my portfolio from 1k to 7k in July-August, made some bad moves earlier this week and last week. I am down to $500 and went all in this on 10/19 calls. LAST HOPE! We got this. 09/28 0830 EST

I should have held my position of just under $3, but I sold yesterday. Happy with my 35% swing up in a month, but I wish I held the extra day haha. Good luck bois!

wallstreetbets

Lysergsaure

t3_9jdrch

MNYSHTS

e6qk46s

Chill_Duck_

e6qv23s

Does anyone use penny saving apps like Acorn?

I keep seeing ads of the App Acorn which basically just puts change in purchases to a savings. For example, you spend $3.50 on something, and it puts $0.50 into savings, or you spend $3.98 on something, and it puts $0.02 in savings. Some banks do this for you if you want also, but the difference with Acorn is that it apparently invests the change into stocks as well. Just wanted to know anyone's experiences.

I pulled this quote from a review of the app; "Acorns fees are $1 per month for all accounts with a balance under $5,000 and .25% of the balance per year on accounts over $5,000. Compared to traditional management, mutual funds, and DIY ETFs, this fee is incredibly low" So if you aren't making a lot of transactions every month, that $1 fee can really start to add up. Have you looked at all your transactions for a previous month to see how much would have ended up in your Acorn account? I'd do that first to see what percentage that $1 would be as a fee.

You can deposit more money than the transactions feature. Im not sure if there are similiar apps out there but im just using it to save money until its enough to justify a brokerage fee on other shares.

personalfinance

lsiunl

t3_6upq81

dubsteponmycat

dlugbdd

Albeg2

dlv3tnx

How much should I charge my SO for rent?

I own a condo and my girlfriend might be moving back to town soon. Neither of us really know what is fair to charge her for living expenses. I make about 100k a year now and her salary would be somewhere between 100k and 135k a year. She's got a metric fuckload of student loans though, where as mine are paid off. Currently the bills are the following: bill| Average ---|--- mortgage | $1125 hoa | $273 water/sewage | $40 internet | $40 electric | $136 gas | $21 Average total: $1635/month Are there guidelines to help figure out what is fair?

When my girlfriend, now wife moved in with me we split everything. If you're serious about this girl then why not. When/If you get married half becomes her's anyways. If you're happy with the relationship then 65/35 split. Any money coming in is more then what you had before.

I'd just split all cost down the middle. This is what my husband and I did when we were dating. We split rent, utilities, internet, groceries, new furniture 50/50. When we went out we always did separate checks unless it was for a birthday. This worked well for us. I think this is fair considering her income she should still be able to pay a huge chunk of debt even paying 50/50. As far as repairs I think those should be strictly on you since you are the owner of the condo.

personalfinance

PM_ME_UR_SOURCE_CODE

t3_5iykfr

whenpigsfly514

dbbyy6t

pcbzelephant

dbccdqa

10 year old son was given $1000 by my mother-in-law. What do?

So, my MIL gave us $1000 for my son as a gift and we could use some advice for the best way to make that grow for him. The interest on his minor savings account in our credit union is laughable, so that's definitely out. They offer 2.25% APY on a 60 month CD, but then he only makes $22.50 after 5 years. What's the best way to put this money away for him so that it actually grows? EDIT: Derped the interest. Compounds daily and credits monthly. It will earn $119 after 5 years.

Depends on your risk tolerance. It's only 1k. It's not going to grow that much. They offer 2.25% APY on a 60 month CD, but then he only makes $22.50 after 5 years. No. After 5 years it grows $112.50 plus a little extra if it compounds.

Unless you see adding to it, I would open an I bond. It will get crappy interest but shouldn't loose to inflation like the savings account. Or call it his car fund and get him to add to it to save you cash later :)

personalfinance

johnnypebs

t3_3nv52v

whiteraven4

cvrhqmy

bikemans

cvrlrqm

Seller agreed to do all repairs that came up in inspection. All were poorly done, do I need to pay for re-inspection?

My realtor and I listed the problems with the house that came up in inspection. The seller agreed to have them repaired and listed them in the contract. I've been in the house 2 weeks and have documented that almost all the repairs were poorly done or not done at all. The run-off pipes installed with the gutters on the detached garage are not assembled correctly and the run-off pipes were not attached to the garage in any way. Both run-off pipes fell off the night I moved it during a rainstorm. The handrail installed on the front porch steps was glued to the concrete steps. The rain has dissolved the glue and the handrail is about to fall off. I have more documented examples but my realtor said I will need to pay for the inspector to come out and re-inspect and even then it will be tricky to get the seller to pay for it. Was I given accurate advice from my realtor or is this all on the seller, as per the signed contract?

It's on the seller, but how are you going to make them pay? You have no leverage. The amounts are likely too small to sue them over. Any re-inspection would definitely be on your dime. This is why you should ALWAYS get cash credits or purchase price reductions for repairs instead of letting the seller do them.

This is why you never get the seller to make repairs - you drop your asking price by an amount needed for you to get the repairs done to your standard.

RealEstate

Skin_The-Goat

t3_2o69c2

quakerlaw

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cmk3dbj

xampl9

t1_cmk5ji3

cmk5ji3

How does one exactly buy a property with cash?

Hey guys, I am new to this subreddit, I am looking to buy a property with cash, my realtor suggest that I wire the money 1 day before closing. I am not sure if there is a better approach. What is the best way to do this? Also a bonus question, can I buy a property with cash in my personal account and have the ownership of the property to be under my LLC? Thanks!

You need to talk to a lawyer. Co-mingling business funds with personal funds can have negative effects. You can make a loan to the LLC of the funds to buy the property or you can do an additional capital investment into the LLC, but there is paperwork associated with doing these things. I'm sure there are also tax implications. Get some real professional help rather than using internet advice (even mine).

Hello Winterwind17; to answer your first question, I believe you can also use a certified check drawn from your account which must be delivered to the seller's lawyer to be held in escrow prior to closing. Certified check would most likely be cheaper (approx $10 instead of $50 for a wire transfer). I'm not sure I could answer your 2nd question but I hope this at least helps with your 1st question.

RealEstate

Winterwind17

t3_7hhzd9

awhq

dqr805k

wemic

dqr43k5

SO wants to buy a house. Am I being unreasonable?

This man spends all his free time looking at properties in our area. According to him: "it's a good time to buy" "putting 20% down is pretty uncommon" (apparently 3-7% is all we need) "our rent money could be going to something useful" etc,etc He's looking at properties around $200,000. Our emergency fund is about $8k, we take home ~$4500 combined, We are both in school until 2016 and then we will have to start paying student loans (I will have 60k (3-6.8%) when I graduate, he will have 30-40k). I think his plan is to use his retirement as a down payment (we are both in our late 20s). Also, his coworker just bought and got a $5000 discount (American Dream down payment); would we be eligible for that? How much savings should we have? Do financial planners do one-time consults? I figure that will give us a better idea or snap him out of it, but I wanted to ask you guys first. How far off are we?

Is your SO your husband? Do you want to buy a house? What are the odds that one or both of you will need/want to move for career opportunities when you graduate? How much can you actually put down for a downpayment? What's the rest of your budget look like? our rent money could be going to something useful" LOL. As opposed to putting a roof over your head, buying you the flexibility to move whenever you wanted, freeing you from the obligation of home maintenance, etc? If he doesn't think rent money buys him anything useful, why doesn't he live in a van down by the river? I bet it's because he thinks having a home to live in is actually worth money. And so is not having to worry about any of the costs that come with homeownership. This sub is going to be pretty biased against someone in your situation buying a home (it's skews pretty conservative on the homeownership question generally), but it might be helpful if you gave more details too.

Don't go into any deal with anyone who thinks of retirement funds as downpayments for ANYTHING. Run. Let him do it on his own but tell him you aren't ready. Will reveal a ton about your relationship and his relationship to money.

personalfinance

thenougat

t3_2law0f

jenseits

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clt1mpp

heavyabc

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cltdsip

I haven't done my taxes since 2012, and i'm not sure how to go about filing them

hey everyone, so I haven't filed taxes in some time as the title mentions. I have my W-2s for this past year, but I don't have the paperwork for the previous years i failed to file. I was struggling with addiction and recently got clean and have an overwhelming amount of things i left in the wayside during that time including my taxes. any help on this matter would be greatly appreciated.

First, congrats on your recovery. I know it's a constant battle, and it's nowhere near over, but it's a very hard thing to do. Awesome job. As for taxes, start by filing your 2017 tax return on time by April 17th. Collect all relevant documents for 2017 - W-2s, 1099s, and any other records of income and expenses - and use any of the free software in the [Tax Filing Software Megathread]( to file. For your previous years' taxes, start by going through each year, and making note of all - if any - forms of income you had for each year. Then, starting with the most recent year and working backwards, contact your former employers to see about getting a W-2 for that year. If you cannot remember a particular employer, or an employer will not issue you a new W-2, you can use the [IRS Transcript Tool]( and request a copy of your Wage and Income transcripts for 2016, 2015, 2014, 2013, and 2012. This will contain most of the information from your W-2, and will help you either track down former employers, and give you some numbers to start preparing your tax returns with. While you're requesting transcripts, you should request a Tax Account Transcript (not a Tax Return Transcript) for each of those years, as they will provide information that the IRS has determined for you (specifically, it will help you see if you have an outstanding balance for a given year as determined by your W-2s, 1099s, etc. During these years, did you receive income from any sources that were not W-2 employment? For example, day labor that was considered contract work, or any under-the-table work?

congratulations on getting clean. im surprised more addicts dont utilize tax time to scam some $ for their addiction. when you go back the last few years and amend returns, u might end up having some $ coming your way

personalfinance

Kelipah

t3_84g14u

thomasamadeusking

dvpag7n

civilengrdude

dvpan26

Risky stock with possible high returns?

I have $500 I'm looking for a volatile stock than could possibly yield high returns. Any suggestions?

Look at small cap biotechs at a low price with a drug or two in clinical trials. Very risky, but you can make a great return.

DEWM. OTC penny stock, making a lot of moves lately. Possible merger/acquisition slated for next year. I had $500 I wanted to put in a potential homerun, and I put it here.

stocks

nnolan14

t3_6z0zql

bundleogrundle

dmrp1vl

willyboy24

dmrs08d

Vanguard Mutual Funds Dropped By Morgan Stanley

Any view about what this means for the investment industry? Guessing they were dropped due to lack of commissions/distribution fees. Think other brokerages will follow and this is the start of a pattern? Figured I would start a discussion.

Unfortunately, this may have a negative impact on any employee who's employer offers 401ks through Morgan Stanley. I.E no longer being able to purchase Vanguard funds in your 401k. Ideally, employers will drop Morgan Stanley in favor of low cost funds such as Vanguard.

"Vanguard spokeswoman Emily Farrell said that while it was "unfortunate" that Morgan Stanley advisers will no access Vanguard's mutual funds, the popularity of its ETFs continues to increase." "Will no access"

financialindependence

Shawnthgreta

t3_697h8b

Harkat64

dh4i006

Duckbilling

dh4u2ix

Mom is getting older

Not sure if this is the best place for this question. A redirect is welcome if I’m in the wrong place. My mom and my step dad own and live in a duplex in Tennessee. They have $120k left on their mortgage and as part of their advanced age planning (they’re in their mid 80’s) they would prefer that we own the duplex instead of them. What is the least expensive way to accomplish this? They bought it new, so a title search would not seem to be necessary. A bank will need an appraisal for a new mortgage, but neither buyer nor seller are adversarial, so do we really need lawyers and agents? I’d ask the bank, but they probably don’t want to alienate either realtors or lawyers.

Form a trust, have your parents, as the trustees, transfer the deed to the property into the trust’s name. Then assign their beneficiary interest in the trust over to you. Transfer of beneficiary interest in a trust is a private document. You just need it notarized. Banks have no way of finding out so it won’t trigger any due on sale clause unless you go blab your mouth. Better yet go ahead and form an LLC to protect your own assets and cash from the risk that is inherent in owning a rental property. Use the LLC as the beneficiary with you the owner of the LLC. Even better, form the LLC with you and your spouse so it is a multimember LLC and thus protected with charging order protection. None of this is incredibly difficult or costly to do on your own. Take a weekend of reading and a few hundred dollars. It is done. If you hire a lawyer you’re looking at $3000, but you know it’s done right and you get to remain ignorant about how your state laws work. ( ignorance is bliss, trust)

Talk to your parents title company that they used when purchasing the house. Most title companies are more than happy to help and explain the pros and cons of different deed transfers. Then talk to the lender your parents got their mortgage through and see if it’s assumable. An accountant or real estate attorney is advisable. They can tell you repercussions of taking over your parents mortgage especially when it comes to taxes. I’m a real estate agent in Nashville, TN. I don’t think you need an agent for this, but let me know if I can help in any way.

RealEstate

pongmoy

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Arctichydra7

eethi0t

LifeAwaking

eeubyxx

Wife and I are going to start putting $500 a month into some form of savings. Please Help?

So my wife and I are finally comfortable enough to start thinking about our future and retirement. We are only 23 and don't really know the best options for a savings account that accrues interest over time. We are going to put $500 a month into whatever we can get figured out. We know we have time on our side which is why we are starting this now. What should we do for annual growth? Make a diversified portfolio? An interest bearing savings account? Any pointers would be GREATLY appreciated. Thanks!

The amount of money you're saving is irrelevant, the big question here is "what is the money going to be used for?" Is this your emergency fund? If you don't have an emergency fund, save up one first. Are you saving up for a down payment on a home? Is this your retirement savings? A couple of general rules. If you expect to need the money in 5 years or less (your emergency fund, down payment for a house, etc.) then you can't afford much risk. Stick with a high-yield savings account (anything 1% or over), or a CD if you can afford to lock-in the money for a year or 2 (have to shop around, can still be hard to beat 1%). If we're talking longer term savings (5 years or more), then you can invest in a nice index fund. If the savings is specifically for retirement, take full advantage of tax advantaged accounts like your 401k and IRA option.

Sounds like you have emergency savings and 401k under control. Hopefully you're maxing 401k, but that's a different discussion. I think the next step would be an IRA or Roth IRA. Any typical bank account will accrue minimal interest. Could also do a traditional brokerage account, but an IRA usually makes more sense for tax purposes. Alternatively, if you have kids, start contributing to a 529.

personalfinance

EzellDiesel

t3_5sud31

alek_hiddel

ddhv6a5

Dynamite_Fools

ddhy3ak

Should I use savings or student loans first? (US)

I have enough in my savings accounts to pay for a year and a half of my graduate school. Should I use my savings before applying for a student loan, hold onto my savings, or pay partly with my savings and partly with student loans and stretch it over the four years? I really don't know what would make sense. The whole process seems overwhelming

keep emergency fund. use savings above that before you take on debt. stretch it over the four years? four years of grad school? what are you studying? is that 4 years full time, or part time? I ask because most grad degrees are really just 2 years (4 semesters). such as an MBA. even law school is only 3 years.

i would take the loan, and start paying it from your $$ to try and maintain a balance and hopefully you will be able to maintain some savings and jump out of school owing no one

personalfinance

thewhiteman666

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harrison_wintergreen

e5k0jg3

cholley_doo

e5jx595

MY HOUSE CLOSES TOMORROW!!!!

And I am all sorts of excited. I have my old house half way packed for the move already, actually threw out quite a bit and will probably throw away even more stuff that I haven't used in a while, is broken or smells funny not to mention the ton of clothes that no longer fit my children. Anyway We do the thing at noon. Plan on a walk through then on to prepping to move in earnest. What would be on your absolute to do list? I'm planning on a cleaning while it is empty and changing out the door locks.

Congratulations! If you are actually changing the locks and not having a locksmith rekeying them, consider the new Kwikset SmartKey system. These locks can be rekeyed yourself with a $10 key set. You can have special guest keys. No more locksmiths. . .

Anything at all you want to do that involves floors and/or work that results in dust I would recommend doing before move in. And if there are any safety issues that need addressing, do those before you have people on site. (My house came with a crumbling set of outside stairs. First job was thousands of dollars to get the stairs replaced so no liability on that front if a contractor got hurt due to bad structure.) Congrats on your new place!

RealEstate

agawl81

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smithmm

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samiv2

d0vflwu

In what case would I WANT a tax refund instead of getting the most out of each paycheck/not owing much at the end of the tax year?

A little confused because to me the sweet spot in filing taxes would be to get as much as you can on your paycheck while not having to owe much at the end of the tax year. Is my thought process correct? Which situation would require someone to want a large tax refund?

Which situation would require someone to want a large tax refund? If you're terrible with money and don't know how to budget, it basically acts as a 1 year 0% interest account that you can't access until the government says "Ok, you can have this now".

If you have a wife and kids and if you have money they spend it. I used to have $50 a paycheck taken out many moons ago and with the earned income credit I had a nice fat tax refund to pay off debts and buy big ticket items. I already had a retirement plan through work so I was saving money for retirement.

personalfinance

charleshk

t3_2xe0r4

truthwillout1

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coz9m5m

mcx9099

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coz9y7c

Should you contribute the $18,500 max to your 401k every year?

I’m 30 and my 401k is at about $20,000 saved so far in my life. According to the website of the company that manages my 401k if I contributed $18,500 every year until I’m 67 I’d still be at risk of not being able to retire, that confuses me. I want to retire someday and hearing people saying my generation will never retire is depressing. I will never be able to contribute $18,500 to my 401k, but even if I were doing it I’d be screwed it sounds like. What do

If you contributed $18,500 to your 401k every year for 37 years, and you got an average return of 6% from the market, you would have $2.7m in the account at age 67. If you reckoned 4% as a safe draw rate, you would have an income in retirement of $108k/yr. Unless your living expenses in retirement are expected to be extremely high, I don't know why you would not be able to retire well on that? Good luck.

You would be extremely well off if you were able to do that. As depressing as it is a huge chunk of our generation wont be retiring. Its a sad fate but is what it is.

personalfinance

JasonTheLazy

t3_8j4ivy

mormengil

dywvwqb

Wheels9690

dyyap2x

if you had 20k to invest into one mid cap growth stock for the next 12 months, what do you pick and why?

Looking for an aggressive growth company with less than 500mil market cap. Have some extra money lying around and looking for something with aggressive growth to potentially double over the next year. Got any ideas?

The amount of the investment should be irrelevant and a company with less than $500 million in market capitalization is not a mid cap. Two micro caps that I own and like are SCS.TO and INA.V. One is Alberta oil and gas, one is North Sea oil and gas. Both trade at a significant discount to NAV. SCS.TO is cheap due to debt and a strategic review that failed to lead to a buyout; INA.V is valued at close to cash and is cheap because the market wants them to prove they can develop their fields without snags. Both look good fundamentally and technically, but you might want to wait for the QE3 news to buy in because it could have a big impact on oil prices.

[Zynga]( Their relative valuation is extremely understated in comparison to big brother Facebook... even if Facebook were worth $5/share. Like everyone I figured they were a sinking ship until a troll dared me to defend them. They're making more per user and 1/20th the market cap of FB despite 1/4th the number of users. They have actual products that people want to play and nearly their market cap in cash. They could buy [TakeTwo]( if they wanted along with any Farmville-style competitor. Once a few more analysts figure that out they'll spike up to $4 or higher.

investing

akppve

t3_zq3bn

WingedHelix

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c66vi9f

[deleted]

t1_c66rus4

c66rus4

How would you deal with a debt if the interest rate was around 0.35%?

I'm expecting to graduate with a student loan debt of around 40,000 usd. The interest rate is only 0.35% though. The interest varies from year to year but not hugely. Am I right in thinking that this debt should be at the absolute bottom of my priority list? I should never pay into it more than I have to, right? I'm European btw hence the crazy low interest rate.

I would pay the minimum until the rate changed. Given that the rate changes, I would set aside money to pay off the loan. I would make ~2.37% on something like VBTLX with all the money that would eventually pay off the loan and use the accumulated VBTLX assets to pay off the loan once the after tax effective yield dropped below the interest rate.

My guess would be you're from Sweden, right? I'm gonna take out some student loan as well soon, seems with an interest rate like this it's kinda silly not to do it.

personalfinance

BrotherAreYouThere

t3_6kspy3

IdentifiableParam

djoioa3

q1ung

djovbw6

Would transferring to a more costly and prestigious school be better in the long run?

I'm 18 and currently go to UT Arlington and have a 40k scholarship that will cover tuition for all 4 Years. I also have 5k saved up and currently work part-time and make about 20k per year. I live with my mom so it wouldn't be too difficult to save up and attend a more prestigious school such as UT Austin, but would this give me any advantage when getting a job? I plan to graduate with a Bachelors in Computer Science, I feel like employers would care more about internships and personal projects rather than where you get your degree, but I'd like to see other viewpoints. edit: Just to clarify by UT Austin I mean University of Texas, my school is ranked ~110 in engineering, University of Texas is ranked 11 in engineering and 56 overall

The unpleasant truth is that nobody really knows the answer. For 90% of your working life, it won't matter at all what school you went to. But for the first job you get, it will we matter some. A better name on your resume may be what you need to get the first interview. And the effects of that on your career can last a long time. It also depends on what kind of person you are. If you will work hard and try to stand out among your peers, you might do well at a lower-end school and get attention as a top student there. Relationships with computer science professors can lead to great job opportunities. On the other hand, if you are more likely to follow the footsteps on the people around you and be in the middle of the pack, you could benefit more from being surrounded by better peers.

If you want to work at one of the tech companies in Austin, it might be worth it for the networking opportunities. If you plan to stay in the Dallas area, it probably doesn't matter and you should save the money and stay local.

personalfinance

SkyFireBeta

t3_74w260

JdjzjaJaccfs

do1iio8

kjohtx

do1izvd

I applied for a new position at work with a $5 raise. I got the job but not the raise. They told me to complete a 3 month probationary period first, it has now been 6 months and I'm still doing the position at the same wage.

They said after the probationary period that I would now need a recommendation from the supervisors to receive my raise. They mentioned retroactive pay but I'm seriously doubting its existence. What do I do? And why are they not giving me the raise? Is there a reason like waiting for the fiscal year or something so the manager looks good on the reports? Apparently I'm not the only person waiting on their raise.

Sorry to hear that dude. I had that done to me too finish training and we'll give you the raise. After a few months after I had clearly proven myself and no raise I brought the issue up and was getting the run around. After I found another place and gave notice, one of the people trying to retain me said "I'm not making what I was promised either, but you're a really good employee and we'd hurt to lose you blah blah blah." I laughed on the inside when I heard that because I was making more at the new job than the raise I didn't receive at the old one. I hope your situation is different and you can work it out OP. I've been there and it's a shitty feeling.

Do you have a paper trail of your superior's stating that you would have to finish a 3 month probationary period, what that would entail, and how you would be graded at the close of the 3 month period?

personalfinance

Fallxn

t3_7xq7un

donmcde

duaboso

Bhockzer

dua8dcf

Few questions regarding GME today and next week

I the last few weeks I became quite retarded while reading here and I am invested in GME (also NIO, PLTRL). I had paper hands and sold my shares too early (bought in at 16 EUR), but I made a few gains. Now bought again at 30 EUR. What is the PT for today? 45 EUR (around 55 USD)? And what might happen next week? Are there even more gains to be expected? Ah, and fck

Serious answer. The short squeeze is legit yet to happen. There are use positions needing to be covered. We’ve also had amazing press, so heaps of boomers will start to jump in. So much of the volume has been driven by new investors. This is extremely clear when you see borrowing costs around 50% to borrow GME shares. That’s absolute huge and means Melvin is burning cash holding this position. We realistically need to hold today and next week before this explodes. I imagine it will break $60 today. It’s already well above $40 In the after hours trade and found a solid floor there. Will likes break $50 at open and will climb from there.

But tomorrow as cheap as u can, hold it for next week. Shorts haven’t covered yet. Tomorrow and the next 4 days rise will be from boomers buying into it. I repeat, there’s no squeeze yet!!!

wallstreetbets

KhazadNar

t3_kxq847

je_veux_sentir

gjbpyo7

jhonchaos

gjbromk

How to best deal with $32k in student loans as a teacher?

I have $32k in debt (All Stafford loans, interest rates between 3.7% and 5%) as a high school music teacher in a title one school(first year teacher). I know that there are options out there for me, I am just trying to figure out what would be best. Ideally, I would like to lower my monthly payments as much as possible and try to cash in on Public Student Loan Forgiveness or any other the other Teacher/Low Income forgiveness programs. Basically, between the political situation in the US (student loan forgiveness is a big topic these days), PSLF, Teacher Loan Forgiveness, and any other programs I may not know of yet, I am trying to figure out how to get out of my loans while paying as little as possible. What are your suggestions PF?

$32K is a new ford Mustang. I would work in your summers to get this knocked out and out of your hair. It's a millstone. Treat it accordingly. You can tutor, teach music (your position is extremely favorable, be camp counselor of a summer program, even jockey the floor at guitar center). Your position makes you a shoe in for all the above. The people that take the option of dragging these loans out forever, suffer. I have seen numerous people ham-stringed by this and they are in their 40's and 50's. Student loan forgiveness only makes sense when you have horrific student loan amounts or you majored in gay / Lesbian dance Interpretation and discovered that it, and your minor in folklore don't pay six figures. Just my two cents.

For $32k, you should be looking for summer gigs, side gigs, spare cash, and so on. Pay your minimums and you can scrape together enough to slowly pay those off. WAY before forgiveness is a remotely viable option. The way to get out while paying as little as possible is really simple here: pay them off.

personalfinance

2Reeds1Instrument

t3_d7u0i4

DoctorScrotus

f14ivh7

throwaway_1_85_54

f16neow

How can i set up a payment plan for medical bills?

I have a few medical bills that the places are almost forcing me to pay in full immediately but i do not have enough to pay at one time. I know i can pay over the course of a few months. What can i do to set up a plan with them in order to pay them like so. I do intend to pay it fully but i cannot in one large sum.

Call them, tell them you can't afford to pay in one large sum, but that you want to pay and that you can pay over the course of a few months. If you get any trouble, re-iterate that you cannot pay the bill at the time it is currently due, but that you can and want to pay it as soon as you are able. Hospital bills sent to individuals go unpaid extremely frequently, so hospitals are generally very willing to work with patients who can't afford to pay in a lump sum.

Call them. The hospital I work for has two branches of billing employees; one that calls and tries to get you to pay and one that accepts calls from customers trying to pay. The ones calling you are much more aggressive and probably would make you feel like you have to pay it all. Generally if you call and explain you want to make payments we are more than happy to set that up and sometimes we give discounts to help you.

personalfinance

LgNBullseye

t3_2z49vw

IMNLFN

t1_cpfk62x

cpfk62x

badwolf7850

t1_cpfsd16

cpfsd16

Car was stolen last night... First time this has ever happened in my 28 years of living.. What are my options?

It happened last night after i came home from getting a snack & drink from a local convenient store nearby. I parked the car, went inside and went to bed early. Woke up this morning to my Mom in my room asking "Where is the car?" I live in a private community (not gated but a one way in->out and the only entrance is thru the front. I have already filed a police report and its the weekend so i probably can not call the insurance until Monday. It is a '05 PT Cruiser 4 door with about 85k miles. It is my grandmothers car and is over 10 years old but well kept. She passed it along to me once she was unable to drive due to her dementia.. I now am a caretaker for her and I depend on this car to help her get food, run errands and go to work. There was nothing valuable left in the car, except the spare key from where 2 days ago my Mothers boyfriend used it for one night to go back home a couple of blocks away. He returned it with the spare key inside, and when I left for work the next day i noticed the spare and just put it in the center console. Once i returned home from work, I had forgotten the key was still in there. We do have insurance, but i would like to know does insurance cover a rental during this time? Also is there anything i should or should not tell my insurance? Any thoughts?

You can report a claim any day of the week. Hell, I'm at work right now. File a police report. Call your insurance. You're covered if you have comprehensive coverage for thefts. Rental coverage can be used if you have it on your policy. If you dont pay for rental coverage, you wont get a rental. If you do, most insurance companies wont toen rental coverage until 48 hours after the claim is reported.

If it's anything like the UK insurance, leaving the key in the car is a big no no and they could refuse to pay out due to you not securing the car properly.. &x200B

personalfinance

therealz1ggy

t3_aotaba

VictorVonDoom99

eg3ef8r

HandyAndy944

eg4bokv

Housing Bubble

Are we on the verge of a housing bubble bursting? Home sales in CA have slowed dramatically. How can a buyer know when is the best time to buy?

We will know if it was a temporary slowdown last year by spring. So you can either wait and feel like you're a genius, wait and feel like you completely missed the boat as prices get strong again, or wait and feel like you still don't know what to do. Or not wait and feel any of those options about your purchase There's always risk involved in buying real estate, one never knows that the market is going to be like in 2 weeks or 2 years.

Here is Denver 3% down-payments are common, the government thought just a year ago that not enough suckers were entering the market accepting artificially inflated prices to it raised huge 43% DTI to an insanely high 50%... In Seattle at the peak in May 2018 around 15% were still dealing with effective negative equity, had to bring $ to the table to be able to sell. Imagine with the 11% drop that market had to far given that the median downpayment is just 7%. What sucker couldn't buy but wanted to given these crazy lax conditions? Next step will be for the government to pay closing costs, moving expenses and ... a bit of $ as a refundable tax credit to encourage a reno.

RealEstate

kpt369

t3_akcrgi

nofishies

ef3skxj

4BigData

eg2npy7

Dentist office never informed me of a bill from May 18 and proceeded to send me to collections and my credit score went down. Is there any recourse?

I went to the doctor's office in May of 2018 got some simple work done and left. I used my insurance, paid whatever and went forward with my life. Fast forward to October 2018, I get a call from them and proceed to call back. Also, I got an email from my credit report that my score dropped due to a delinquent notice. This was the first time I heard from them. They claimed the mail they sent me went back to them. OK?? I asked why didn't they call me. They stated the number doesn't work. I responded, you left me a voicemail and I am calling you on it. "I don't know what to tell you." Afterwards, they told me they never sent my info to collections either. I stated that is how I found out, along with the voicemail. Due to all of this incompetence, my score dropped and I have a delinquent notice. It was for a measly $193 bill which I paid on the spot. They are claiming my number doesn't work (yet they left me a vm) and never sent my stuff to collections. I am very pissed about all of this. Is there any recourse?

The best way to get this resolved is to have the dentist office pull the collection and ask the agency to delete it. They may or may not do this, but the chances are much higher if their client (dentists office) asks than if you ask. &x200B Failing that, you should talk to the collection agency, explain the situation and tell them you'll be happy to pay it off if they delete it. DO NOT PAY UNLESS THEY AGREE IN WRITING TO THIS. &x200B Last step, and I'm probably going to be downvoted for saying this is dispute the collection every month, eventually it may be removed if they dont respond in time to the request. Do it over and over again, persistence is key here. If you do get it removed, as soon as it's removed, then call them and make arrangements to pay (try to get them to write a letter stating they wont report it again although they're not supposed to, if you pay in full). &x200B If none of the methods above work, it'll stay on your credit report for about 7 years. It sounds bad, and it's not great, but over time the relevancy and effect on your score will go down, it'll impact your score most for the first year or two.

You're already getting good advice and it sounds like this dentist has incompetent help. I'd contact the dentist directly and describe this in detail b/c the office staff certainly isn't being helpful. Going forward, whenever you receive service for dental/medical work, always always always be sure you receive a statement showing your bill was paid in full. One of the more common threads on this sub is some variation of "I didn't realize I owed more and they sent me to collections" and it is easily avoided.

personalfinance

tiberu333

t3_9kq16a

MoarPill

e70v6gp

PM_ME_UR_TAX_FORMS

e712tqj

Why are top Chinese stocks beaten? ($BABA, $TCEHY, $CHL)

Can't be tariffs, can it? At least the aforementioned focus mainly on the local Chinese or asian markets. What's behind their lows?

IMO what's behind their lows is exactly what you think. Ppl thinking a trade war would hurt them. Ppl seeing they doubled in a year it is time for a pullback. Ppl scared they can lose it all at any moment. I think they will all rise again after earnings. Two days ago I loaded up on TCEHY at 49, BABA at 170, and JD at 36. Going to try to hold them all for 3-5 years. Might prove to be a horrible decision but I can't allow myself to buy AMZN at all time highs.

The problem with Chinese companies is we never really know if the numbers they put out are legitimate. There is a lot of fraud even at the giant cap level in asia.

stocks

Uilleam_Uallas

t3_8fjr5g

mydogsnameisreggie

dy46z2p

mylosan

dy7au19

Does anyone know what this quote of the Intelligent Investor mean? What are it's implications?

"the investor should impose some limit on the price he will pay for an issue in relation to its average earnings over, say, the past seven years.”

Top comment is correct. To add to this, a couple points: You can’t control the earnings of a company or its stock price. What you can control is what price you buy at and if it isn’t an attractive price relative to earnings, move on. Considering the earnings of the past 7 years is a good basis as earnings volatility can be pretty dramatic depending on the sector and company. Bottom line, do your due diligence and know your company, don’t overpay for it.

Now we have the Schiller CAPE ratio which is price divided by 10 years of earnings. Which is at 30 for the third time ever. Last time it was over 30 for most of 1999 and 2000. The only other time was 1929. That's for the S$P. It can also be used for individual stocks.

investing

swimtomars

t3_cctrni

nonameattachedforme

etpbt4x

JimC29

etpwlm5

ELI5: How do employees of marijuana dispensaries in the US handle their taxes if their income is based off the sale of marijuana?

With the federal restrictions affecting how dispensaries due business (such as not being able to have bank accounts), how do its employees handle their taxes when the income is coming from the sale of marijuana?

They report that their employer paid them to operate a retail shop. The IRS wants to know what you got paid, not what the shop sells. OK, there are some banking issues, so your boss had to pay you in cash. From the IRS perspective, also not a problem, they want to know how much you got paid, not how it was paid to you. Of the many legal snarls surrounding pot, employee income taxes isn't one of them.

The IRS cares not where your money came from, only that they get their cut. You could list any number of illegal activities as your source of income, from drug dealer to mob hitman, and the IRS won't do anything about it. Once you stop paying taxes, however, then you have a problem. That's what they got Al Capone on, after all.

explainlikeimfive

madchad90

t3_66ik4b

WRSaunders

dgiquoy

Gyvon

dgjnar6

Do hedge funds have higher returns than investment funds?

I went to an investment meet-up about Value Investing. A guy really seemed to know his stuff and he liked how I invested monthly into Vanguards. He said that most fund managers of like funds by Deutsche bank don't really care much about beating the market, play it very safe and they will make their 1,5% fund administration charges anyway. He did say that many hedge funds were good at beating the market. So I've been considering investing e.g. 10, 20 or 50k, probably small first in one of those funds.

Some people don't understand modern portfolio theory. It's like this: If a hedge fund has a small average return, say 5%, that is uncorrelated with the market then that hedge fund will be flooded with funds. Even though the SP500 (market) has a larger average return, say 7%. Why? Because if you could find like 20 hedge funds that each have an average return of 5% and are uncorrelated with each other, then you could virtually guarantee a return of 5%. If you had someway to guarantee a return of 5%, you could borrow money at like 3% and leverage it. Your effective returns are unlimited. So, the point of a hedge fund isn't to beat the market, but to have positive returns that are uncorrelated with the market.

~~many~~ Some (hedge) funds were good at beating the market [historically]. You don't hear about those which went south. I guess, it is sort-of correct to say that many funds managers gave up on trying to beat the market. (Because usually they cannot, not because they don't want to.) That's why index funds (like most Vanguard) are popular.

investing

ujjain

t3_4vc9bk

ron_leflore

d5xfvgf

jan

d5x7ujm

Got fired - how to handle this in an interview?

Due to an extremely traumatic experience in my life I suffered from full blown PTSD during my last FT job and was admittedly unable to perform up to expected standards. It was extremely debilitating and consequently I was terminated for performance reasons. I really wanted to leave on my own terms to work on my health issues but being locked into a lease with no savings prevented that from being an option. It's been almost 4 months since this happened. I've continued to work part time at my second job but my main job became rehabilitating my mental health. Now I know that I'm in a place where I can provide good value to a company. I've been applying for jobs and have a couple of phone interviews in the coming weeks. Obviously I am going to be asked why I left my previous FT position. I am still unsure how I am going to handle this. Any advice? Admitting to termination seems like a great way to not get the job...and I understand that from an employer perspective. It just seems unnecessarily risky to hire someone who was terminated even if for health reasons when there are so many candidates.

If the PTSD is military related I would be honest and say it was a medical issue related to your service and you received treatment. Also if service related I would look for places with lots of Vets as they tend to be more understanding of this. Not sure how I would handle if not service related but would just say to receive treatment for a health issue. Treatment received all better now.

Be honest like others have said. The biggest advice that can be given for interviewing is to turn your negatives into success stories. I used to be bad at x but now I'm doing y to improve it. You have grabbed your situation and are actively improving it. Nice work btw! Be honest- lay it out with a positive spin post firing- and remember that if a company turns you down for this reason you probably wouldn't have wanted to work there anyways. I think you won't have much trouble getting back in the saddle.

personalfinance

Fired_guy

t3_2ztqgw

Stedw

t1_cpm89fl

cpm89fl

Owenleejoeking

t1_cpmbc1j

cpmbc1j

How Often to Contribute to Roth IRA Throughout The Year?

I'm curious how others handle their Roth IRA contributions. I just started my Roth IRA a month ago and maxed out 2019 with savings on hand and now I want to work on 2020. Part of me wants to fund it with every dollar I can scrape together until it's maxed so I don't have to worry about it because once the money is in there (and invested) it can be forgotten for the next 30 years. Then I can use the rest of the year to save for personal wants. Though, I fear this approach will lead me to try and time the market. For example, the latest dip makes me want max it out right away with some of my savings. Do most people max out in one lump sum when able? Or transfer $500/mo and purchase stocks once per month to smooth out market fluctuations?

It really doesn’t matter, but Vanguard did a study and found lump sum investors do better than DCA investors. It just backs up the adage: Time in the market beats timing the market.

I DCA throughout the year. I get paid twice a month and so I contribute $250 per twice a month. However, I believe if you have the money you can still max it out sooner rather than later.

personalfinance

bobjks1

t3_fc59w5

StanderdStaples

fj8ne8w

onejahoneglory

fj8w4kv

When should I buy a house/condo?

I think I would like to buy a house or condo in the next few years. But am unsure about when I should do it. I am not sure at what point the tax benefits of being a property owner offset having a smaller down payment. Here is my information: Age: 24, Single, no kids Debt: $0 401k: $4,500 (I do 4%, which is max matched) Roth IRA: $12,000 ($10,500 contributions which can be used for house) Trad IRA: $2,000 Individual Acount: $47,000 (stocks and ETFs) Cash: $5,000 Savings rate: $2,500-$3,500/mo Income: ~$80,000/yr (will increase to around 100k/yr in next year or 2) Current Rent: $600/mo Other monthly payments: $150/mo (insurance, phone, netflix, etc) Desired house/condo price: 300k-450k So my question is, at what point (in terms of down payment) should I buy a house/condo? I am not a huge fan of monthly payments and I don't want to spend a ton of money just on interest. But, I know there are some pretty good tax benefits to owning property. And I would enjoy having my own place at some point fairly soon. I live in Austin, TX and property prices are increasing due to it being the fastest growing city in the US, so that does play a bit into my decision. What thing should I be considering? Should I just continue to save and live well below my means and let my investments grow over time? I would be happy to provide any more information that might be necessary. Thanks for any advice you might be able to contribute!

This is just general advice so take with a grain a salt. Target no less than 20% down (to avoid any "creative" unconventional loans like an 80%/1-20% or FHA as both just make ownership more expensive than it needs to be) and don't touch retirement accounts (which means don't touch Roth IRA). In your position, I would look at cash + stocks and ETF's - minus emergency fund = cash available for down payment (and make sure to allocate additional funds for closing costs and any other costs that you may be subjected to in buying a house - i.e. furnishings, etc). As far as the tax breaks are concerned, the big tax deductions you'd now be able to take advantage of are property taxes and mortgage interest, but run the numbers first to avoid any surprises (expecting more back than actual) as there may not be a huge difference with itemized deductions and standard deduction that I assume you're now taking. Both of which are easily calculated. Here's a quick example focusing really on just $80k income, property taxes and mortgage interest. I pulled up a random house that was close to $400k in Austin TX - property taxes: $4,500 If you put $80k down and finance $320,000 at 4.5% - interest paid in the first year: $14,300 (bear in mind this number will obviously get lower over time) Total itemized deductions: $18,800 Standard deduction $5,950 Difference in taxes assuming 25% marginal rate (25% tax bracket for single is 36,251 – 87,850 for 2013): about an additional $3,212.5 back in income tax return ((18800-5950)*0.25)), but keep in mind you had to spend $18,800 in property taxes and mortgage interest to get $3,212.50 back in income taxes.

I'm probably coming to this a bit late, but the one question you need to ask before you buy a house/condo is: Will you be living in that one place for the next 5 years (at a bare minimum). If not, rent. If you answer yes to this question, then go through the financial questions, but those are truly secondary to the timing question.

personalfinance

personalfinance123

t3_1qu38m

sh1ft3d

t1_cdghz6k

cdghz6k

arjonite

t1_cdgpjs8

cdgpjs8

Went up against a landlord now cant find a place to rent from

I was previously living in a scummy apartment that had the rooms divided by individual leases. My two roommates refused to pay the bills that were in my name and smoked enough weed to make any clean clothes for work reek. I wanted out of my lease and went to talk to the leasing office. They said there was no clause and I was stuck (I now know to thoroughly read leases.) I ended up getting a lawyer who drafted letters to them and advised me the lease was illegal and to move out and stop paying rent. Obviously this went to a debt collector and I have this on my credit. I cant find an apartment that will rent to me and am currently living with someone from craigslist. Any advice? What happens if I pay the debt collector?

Let me get this straight: 1) You didn't like your living situation. 2) So you went out and talked with a lawyer. 3) The lawyer told you to stop paying rent and move out. That was the last thing you did. 4) Meanwhile, your landlord hasn't been getting their rent. So they probably went through the process of getting a judgement against you. 5) The debt you owe the landlord you bailed on has now gone to collections. 6) You want to find a new rental, but your background checks are showing you bailed on your last rental and the money owed has gone to collections. It seems like you're leaving out some important parts of the story that happened between steps 2 and 4. either way, you didn't really "go up against a landlord". You full on just bailed on him.

I would look for some place I could afford. Meet with and impress the landlord, if you have a supervisor at work who likes you get a letter. If you have references of impact, again get letters. When it's time for them to look into your background, tell them what happened. Stick to the facts only, no drama just facts. Then tell them you are willing to prove yourself worthy by being exactly on time with your payments and making any other small concessions you can. You might have to save up enough to offer first, last and security but that's a result of poor legal advise; good luck.

personalfinance

cheeseduck11

t3_6h2b07

FatalDosesOfOsmosis

div07a4

onetimerone

div3hnl

First time mortgage question

If I have 50k in a downpayment, and the bank says I can be approved for a mortgage of $500k. Does that mean I can afford to look at houses listed at $550k? Or is the mortgage only approved because I put up the initial 50k? (I know there are many, many others things to consider. But I'm struggling with the basic 101 stuff right now.)

It means you are approved for a loan in the amount of 500k. The amount you borrow = purchase price - down payment so you are correct in your thinking here. That aside, do not rely on the bank telling you what you can afford. You really need to figure that part out yourself. For example, if you do buy a $550k house with $50k down you will be paying PMI.

The bank is saying that the maximum they will lend you is $500k (which would require a $100k downpayment unless you want PMI). That's just the max the bank will lend you. Technically you can buy a $550k house... A $50k downpayment would put you in the $250k range, but more inportantly, you want to see what you can afford. Go to some of the mortgage rate sites and see if you can estimate some monthly payments, and find one you are confortable with.

RealEstate

jbkites

t3_d0xoc3

duderduderes

ezf5mtz

tcspears

ezgfcrr

California, Seller wants us to use their lender.

Wanting to know if this is Ethical/Legal? Sellers requirement was to submit for cross-qualification with our offer to their chosen lender. Fine, we do so and the loan officer contacts me and is strongly hinting that if we go with them as the lender that our offer will be accepted. We're prequalified already with more than 20% down and have a letter from our lender and the sellers lender is basically promising he can also beat our lenders rate and that he works really close with the agent and knows that we'll get the house if we use him. Hes gone as far as congratulating me on getting the home even though our agent has not heard any peep of acceptance from the sellers agent... thoughts?

Something I learned in a continuing education class on ethics: if you ask yourself whether it's legal, it is not ethical. So fine, you lose this house. Do you really want to do business with somebody who thinks this is ok? What else are you going to get squeezed on?

I would tell these people to F off, it's my money and I am using the lender of my choice. If they decide not to sell me their house because of this I would consider I dodged a bullet. I totally get that sellers want people to pre-qual with their lender- that's different. But it's my choice who I go with ultimately.

RealEstate

iwantansi

t3_6alyin

ShortWoman

dhfncgo

wamazing

dhg141t

F.I.R.E.? Seems F.I.R will have to do.

Thought I'd post about my experience, so that some younger users that manage to find their way here have some added perspective on the importance of starting early. About me: I started learning about the world of finance, planning and frugality pretty late in life (and I still know diddly-squat); It was paycheque-to-paycheque for the longest time as I enjoyed what life had to offer. Reflecting back, the travel was well worth it, but the day-to-day waste, eating out all the time, ordering in, buying the crap I didn't need - was not at all future thinking. I was still making these mistakes into my 40's. My old man tried - "Just put $10 away a day" - from when I started working part-time at age 13 (Anyone remember Ponderosa Steakhouse? :D ). Holy hell, if I had only listened. If I had started early, and often, I wouldn't be in the position I'm in today. I think a lot of teens/young people think they know everything - I sure thought I did. If a stranger told me the same thing, I probably would have put more stock into the advice; something about rebelling against your parents even when the advice is pure gold. I still know little about investment, but I know a TON about how to save - and that, I believe, is the more difficult part at any age. The Reason: Because I started the investments late in life, I have to put a heck of a lot in there per-annum to 'catch up' to the lesser amounts I would have had to put in 30 years ago. Go ahead - go into a compound interest calculator and punch in $100, pick a percentage rate, and see what the difference is between 20 years and 45-50 years. That's how much more I have to put aside not just for F.I.R.E (the early part is all but negated at this point), but simply to retire at 65 or 67 and not live like a hermit. My actual retire $ figure doesn't really matter - everyone has their own goal. The Advice: If you're still young, live your life! But attempt to ween out the costly (see MMM post: [ -started-3-eliminate-short-termitis-the-bankruptcy-disease/]( ) things that don't actually change what you want to do, or your overall happiness. Surround yourself with positive people that have similar goals. Understand that you can never start that 'nest egg' too early. The Why: There may come a time when you've been in the workforce, and for whatever reason, the day-to-day grind is seriously affecting your mental health. By saving and planning early, you put your future into your own hands and not some random corporate entity tying you to a desk for hours a day. Having a pile of money growing for you helps to mitigate fear and change. I'm sure most of this was rambling, but if I can help even one person on the path to F.I.R.E. the post was worth it.

Thanks for sharing. I enjoyed this line from Mr. Money Mustache [“As a future young millionaire, you need to start thinking about all of your purchases as LONG-TERM events, not short-term ones. That means each decision should be carried forward in your mind for at least 10 years, rather than just until your next paycheck”](/

Likewise, if you don't land that dream job coming straight out of college at 22 years old, it don't mean you can't catch up in your late 20s/early 30s (or as soon as you can after that). Always, the sooner the better, but don't stress it right away either.

financialindependence

spoonie1972

t3_8oqq0i

Donar__Vadderung

e05e9bh

Abollmeyer

e07072l

New to US, what are the basic things i should lookout for in the first few months

I moved to the US 2 years ago on an L1B visa where i was still based in my home country (not US payroll) but spend 90% of my time in the US and change locations based on projects. I have an SSN and my employer covers all my expenses (I stay in corporate housing) when i'm in the US and my US taxes while i pay taxes back home. The situation will change in the next few months, where i will be switching to US payroll and will need to start paying for all my expenses and taxes. Since everything was paid for i have been putting off (lazy) a lot of basic stuff and now i am trying to understand how PF works in the US; i started applying to a driving license and need to open a bank account and start building a credit score etc... I am fortunate to have a good paying job and savings making me financially secure but i want to minimize cost as much as possible when i'm kick starting my life in the US What are some tips you suggest or unforeseen expenses that i should look out for in the beginning? ex: I've never had a US credit card or paid bills here so i am not sure what my credit score will be, which bank/CC do you guys recommend? Thanks

Don't go to the emergency room unless you are fairly sure you are dying. Even if you have insurance you will likely have a substantial deductible and could end up with a multi-thousand dollar bill just for walking into the door of the ER.

Watch out for tax implications because you could be ordinarily resident in two countries. Because the UK tax year is april-april and the US uses the calendar year, I found myself "resident" in both countries one year. The IRS were really helpful. Like they actually got the UK IR on a conference call and reviewed my individual situation and agreed how we were going to settle it then and there. The US IRS are actually fairly awesome compared to everywhere else i've lived, don't fret about calling them if something is unclear.

personalfinance

newUS123

t3_7iug3a

bhspencer

dr1q2uh

grahamsz

dr2jx3g

Urgent care charged me 3x what they said they were going to before treatment

As the title says. I got bill today from a visit last week where I was worried I had strep. I called ahead and ask how much to see RN. $125. Okay great. How much for strep test? $25. Cool. Not so bad. I get the bill today and its for $450. This is nuts. I call them because the blantantly lied to me. And they said it's because I gave insurance instead of self pay. I had no idea there would be a difference. They never said that before hand. I asked if I could remove the insurance The billing person said there is nothing she can do because it was already filed. I can't afford this. Do I have any recourse? I thought I did my research, but they didnt say they charge different for on/off insurance or suggest that there could be any variation. I thought I was given a flat rate.

The employee quoting you cost should have asked for your method of payment but they didn't and as an insurance covered individual you should know that no medical facility will be able to guarantee your out of pocket charge after your insurance handles a bill. Live and learn; ask for a payment plan. Also, are you positive that your insurance received the bill and they are now submitting it to you? Sometimes clinics forget to send the bill to the insurer.

I'm an insurance biller. They most certainly can request the claim be voided by your insurance and bill you. I have done this when it happened to me personally and I have done it for patients of mine. The real question becomes will they want to spend the time and hassle (much hassle, especially if your insurance made a partial payment that they now have to refund) to get paid less money. Also, assuming you have a deductible or out of pocket max as most plans do now'days, that amount will be applied there and considered with future claims regarding payment. A good rule of thumb if you are going to use your insurance plan and want to know what something will cost: Assume that you will be paying up to the amount of your deductible and potentially your out of pocket maximum. $3k deductible means you pay $3k before your insurance pays a dime....however what they did do was reduce the original bill. Then you ask 'why bother with billing my insurance?' Because some places won't have a sliding scale rate and your insurance reduces your cost based on their contract with the provider.

personalfinance

tariside

t3_9llyjf

alexm2816

e77n79m

nvfh33

e78pjvq

My countrys currency is dropping in value and im due to pay a substational sum of money abroad in Mars...(Norway)

As most of you might know the oil prices are dropping. Along with It so is Norways currency (NOK). It has reached the same low levels compared to the dollar in 2003 as of today. Im due to transfer a substational sum of money from NOK to SEK (Sweden) in Mars. Can someone give some advice on how to handle this? If i had transferd the money 3 months ago i would have saved 2700 dollar... Starting to get nervous..

Ugh. The biggest problem of living abroad. Personally, after the currency I'm paid in (KRW) tanked several years ago, I started following the currency fluctuation like a freakin hawk. Every month, sometimes twice/ month, I buy USD if the exchange rate favors the exchange. When the KRW plummets, I sit on my KRW and wait until the exchange rate normalizes. So, I always have USDs in a separate account that were bought while the market favored my exchange. Can you set up an account in your country's denomination or in a stable denomination- Euros, pounds, dollars?

Not sure about Norway, but in most other countries where I've lived it is quite common for banks to offer current accounts in an alternative currency -- typically Euro or USA$Dollar. If you set up such an account, then the exchange happens at the time you deposit money, and you are holding the foreign currency in your account, it is still yours. EG:

personalfinance

pweipwei

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[deleted]

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cmsqkap

drtonmeister

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cmstnpy

My dad is giving me $1000 to invest. Any suggestions?

First off, he is not giving me this money. He is letting me borrow it to "practice". I am investing it and giving back any gains plus the original amount. I told him I'd pay back anything I lost over the summer (when I get an internship hopefully). I don't know much about investing, just some basics. I think I may just invest in a few stocks. Please help me so I don't let him down! I used some of the money (~$30) to purchase some books about investing, I thought that would be a good start.

Why not try [Lending Club]( With a minimum investment of $25/loan you'll feel like you're really doing something substantial with your (dad's) money. As a side effect you'll learn how important it is to stay out of debt and maintain a good credit score. Even if you only put in $100, that's still 4 loans.

who is your broker? i suggest putting it in some rising ETF's right now. TAN is collection of Solar Technology Companies and is up ~100% on the year last I looked. SEA is a collection of Dry Goods cargo shipping companies. All of these shipping companies are stacking up against the rising Baltic dry index. TAN and SEA. Watch them and put tight stops on gains. It's easy to want to buy something and hold it long term because you personally like a product. But that's not the way to invest small accounts. hope this helps.

investing

[deleted]

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ilovebacondoyou

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Is there a minimum credit score you require for tenants?

We are getting a lot of applications with scores in the 500 range and we were thinking about filtering out prospective tenants before they see the property by asking if they need at least an X score. This way we don't waste theirs/ours time and money. Is there a cutoff the pros here stick to?

No. Eviction Judgement in last 2 years. Bankruptcy in last 3 years. Any Garnishments that lower Income But my tenants are all low income/poverty level tenants. Most of their source of income is from the Government. The big one for me is Criminality.

I won't take tenants with a credit score of less than 700, and I prefer 750. But I'm not a pro, I have one rental unit. I did make an exception once when I got a believable explanation, and it worked out fine. The down side of requiring a good score can be that the tenants are financially stable enough that they are going to buy property as soon as they can afford it, so they may be short term.

realestateinvesting

SustainedSuspense

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LordAshon

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Abigail_Winfred

fhxftsp

I met with a Primerica worker for financial advising and am now unsure if I should be concerned or not.

Hello everyone. My wife and I were talking with her parents about wanting to meet with a financial advisor to help us plan for retirement, settle debt, buy a house, etc. And they set us up with their "financial advisor." I didn't know anything about her until we met earlier tonight with her. She said that she works for Primerica. It wasn't until after our meeting that I looked into the company as some of the stuff she said to me didn't feel right. We described our current financial situation (our debt, income, and financial goals). She gave us some papers to fill out that would give her a more in depth look at our financial situation so that she could make us a "plan." The part that gave me a weird feeling was that she said that the advising services were free, so long as we refer them to 5 people (preferably married and/or with kids) and that we "stuck to the plan once it was given to us." Everything I've found on this company says that they're some kind of MLM scheme that trys to sell life insurance (which makes sense, considering they wanted to be referred to married couples with kids, as they're more likely to want life insurance). The part that is confusing me is that my wife's parents have historically been very good with their money and financial planning, and have apperantly been meeting with this woman for a while. So I guess she's helped them? Should I just cut contact now, or is the financial advise worth listening to? The part about "us having to stick to their written plan" makes me feel like they're going to tell us to buy something band if we don't we'll be fined or something. Any advice or information you all have on this would be greatly appreciated. Thanks in advance!

Should I just cut contact now, or is the financial advise worth listening to? The part about "us having to stick to their written plan" makes me feel like they're going to tell us to buy something band if we don't we'll be fined or something. They can't force you to buy anything, but they do often use high-pressure sales tactics to get people to buy expensive life insurance products. For most people, these purchases are very difficult to justify; you only buy them if you don't really know what you're doing or are uncomfortable pushing back on a sales rep. (FWIW, you can compare a Primerica sales rep to the people who hang out in malls and sell overpriced skin cream made of minerals from the Dead Sea. Are the products necessarily bad for you or poisonous? No, but do you really want to spend $150 for a tube of hand cream that you could buy for $3 literally anywhere else?)

Because the cash value account isn’t actually an investment. Federal law states that it can’t be called an investment (to my knowledge). Cash value accounts get a lower rate of return. You have to borrow against it at interest which means you’re paying interest to borrow your own money. There’s a laundry list of things that make separating your investments and insurance.

personalfinance

sofakingchillbruh

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michapman2

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dickieh2

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Lucky calls

Hey guys I’ve been trading options for more than a month now. I don’t have a strategy for trading other than buying calls that are the closest to the money and giving them a week or two to expire. I’ve made pretty good returns like $LMT, a military stock rose after the U.S-Iran situation. I bought it for $125 and made $1,600 in return. I’ve been making good returns with other contracts I still have open to this day. Should I keep using this strategy or look into better ones? Thanks a lot!!

You should quit gambling while you're ahead. One of the worst things that can happen to an early trader is to be right really early on. Because then you think you know what you're doing, do more of it, and lose it all. Take a step back, stay really small with this kind of strategy, continue to educate yourself on options, and take another look after a year.

Luck is going to run out look into selling options put/call credit spreads far more consistent and safer when done correctly. I get and avg of 400 a week with 1500 collateral selling options

options

quiatw

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My mother wants to "transfer ownership" of the house and land to me while she still owes. (TX)

Edit: Thank you for your responses. I have a better understanding of this now, and know she can't transfer the house but she can the land. However, so long as the will is up to date etc. everything will be ok. So I'll just try and convince her that it's fine to just leave it to her will to handle this. First and foremost: The land is separate from the house and is paid off. The house on the land is a mobile home, and she still owes $41,000 at 12% interest. My mother is disabled, and after hearing about family having issues with wills she wants to "transfer ownership" to me to avoid having issues. She claims she will continue to make payments as usual on the house and taxes, but I am hesitant. I am in the middle of my debt snowball, and couldn't afford a house payment or taxes if she could no longer pay for any reason. Can she even do this? Is this a good idea? How could this possibly impact my credit? I'd like to own a home one day. While my Mom has a decent history with payment, part of my debt is from credit cards that I let her use under my name that she's subsequently left me with after she became ill.

We all love our moms. We all want to do for them all they've done for us. But I wouldn't do it if she's already left you with a debt before. There's no telling if she'll leave you with this debt too.

No it's not a good idea. If you can't pay it since you're already in a lot of debts you could face bankruptcy. (And she would lose her home) I'm not a mobile home specialist but is the 12% interest high?

personalfinance

aggiechicken

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joliesmomma

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sonia72quebec

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Server gave himself an extra tip on my credit card

Hopefully an easy one here. I went out to each for lunch on Monday (12/9). Yesterday when I was reconciling all my accounts I noticed that the posted charge on my credit card statement was $3.15 higher than what it should be. Lunch was $21.85, I tipped the server $5, but the charge on my statement is $30. Not cool, server guy. I already called the restaurant and they said they would go through the receipts to check. I plan on calling them on Monday if they don't get in touch with me before that (the restaurant is in a heavy tourist area, I know they're slammed on weekends and anything to do with their bank probably won't happen on a weekend anyway). How long should I give them to fix it before I just dispute the charge on my credit card? -edited to be more specific about the extra amount charged since it was causing confusion in the comments. 2nd

How long should I give them to fix it before I just dispute the charge on my credit card? When did they tell you they would respond? Give them the opportunity first.

I had something like this happen where the server was fucking terrible. I remembered exactly giving her like a 15.000 percent tip and the transaction went through and she added $5 (like turned a 3 into an 8 or a 5 into $15 or whatever the deal was, it was a long time ago) I called up the restaurant the day I saw the discrepancy and the manager was pretty cool about it and gave me the cash back plus a $20 gift card (we inspected the original chit and like the tip was an exact amount but the total was definitely altered but I conceded it could have been an honest mistake and I gave her benefit of the doubt - it happens once honest mistake, if it happens frequently with the same server then it’s on the manager and her to do something about it).

personalfinance

unevolved_panda

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92Lean

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farekc4

My girlfriend and I have both had rough lives and and it's a mutual goal to buy a house one day, for personal and housing stability. Rent is high and we're scraping buy. Would a mobile home be a reasonable investment right now?

Scraping by* For what it's worth I'm in Seattle where the average home price is ~600+. EDIT: Wow, thank you for all the helpful suggestions. I really, genuinely appreciate it. <3

You have to run the numbers. You didn't give us any specifics so it's hard to dispense any advice. My experience is it's a good investment if you have solid future plan. I was paying $1500 a month in rent. That's $18,000 a year. I decided to buy a mobile in a park for $10,000 as a short term savings plan. The park rent was $500 a month, or $6,000 a year. So the house paid for itself in the first year. I lived in it (miserably) for 5 years to aggresively save money to buy a house. There are a few rules to this working. 1. Do NOT finance the mobile. Have the cash on hand. This makes buying and selling easier. People will come down in price if you have the money. You have to have a solid long term financial plan. If you are not sure exactly how much you are putting away each month, you will get stuck there. Don't put any money into improvements on the mobile unless absolutely necessary. After you reach your goal in 5 years (or whatever) don't expect to get a good offer on the mobile. Take whatever you can get for it as quickly as you can. The park rent will quickly eat away any bargaining power you have. I've done this twice. Once when I was starting out after the Army. Another time when a divorce ruined me. This will fail if you don't have specific goals or if you get caught up in the homebuying experience. It's not a home. It's a temporary tool to save money. ****Wow. I got gold. I don't know what that means, but thank you soooo much.

Why not an RV instead of a prefab? Get a used one and if you keep it clean and running it will at least be something you hold on to later or sell for less of a loss than a mobile home.

personalfinance

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Mint told me I need to save almost 4k/mo for my projected retirement

Assuming an income goal of 80k/year in todays $$ (seems like a lot) and a retirement at 65 (I'm 30 now) invested in a growth account (7%?) then I need to save over $3800/mo to reach that goal. That seems ridiculous. I know I'm behind only having started contributing to a roth last year (maxed last and this year already) but I know I'm way ahead of the "general population" How screwed are we as a nation? What is happening to our poor/lower class, hell even middle class, come retirement age? It is getting worse with each generation, it seems.

Sounds like you did something wrong. Here, I'll run the numbers for you: $80k a year assuming a safe withdrawal rate of 4% ([Source]( would require a retirement account of $2M. To reach $2M in 35 years at a 5% real rate (above inflation or roughly 7-7.5% APY) you would need to deposit $1,800 per month. You would have $2,003,362 after 35 years. That's saving approximately $22k per year, which would mean you would need to be making about $100k and saving 20% of your income. Not at all unreasonable, especially when you consider that the above assumes you won't get a single penny from SS or any other benefits, and that you haven't saved anything up to this point and have a net worth of 0.

Yeah, I think $80K a year in retirement is probably more than you need when you consider whatever Social Security/Medicare benefits you may be getting, as well as the fact that your expenses will go down if for no other reason than you stop commuting, go out less, have no mortgage, etc. The core costs you will worry about in retirement are food, electricity and heat, out of pocket health care costs (significant), recreation...things like that. You could probably do that on $2000 a month without much trouble assuming you don't carry a bunch of debt and can live a fairly frugal lifestyle. Also, your numbers with $2M also take into consideration the concept that your balance should never go down...well if you have $2M when you are 65, it's probably safe to assume the balance can go down at least a little bit and you'll be OK.

personalfinance

mortez1

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RedRedditRabbit

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imthewalrus610

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At what point is it worth owning individual stocks?

I'm completely a believer in the idea of having a diversified portfolio, and using index funds. However it seems to me that at a certain point, if you have enough money to invest, it should be better in terms of fees to actually own individual stocks, rather than having an index fund. For example, if you have $1 million to invest in stocks, the classic personalfinance recommendation might include something like VFIAX. At the 0.05% expense ratio, your fees would amount to something like $500 a year. For that much, you could actually pay $7.95 in commissions and buy all 30 stocks from the Dow Jones Index every year (perhaps you'd hold new capital in a mutual fund until once a year to consolidate the commissions). Now obviously VFIAX is tracking the S&P 500, so you don't have nearly as many stocks, but looking at graphs historically they track pretty closely. You could still increase your diversification by holding some mid-cap, small-cap, and international funds, although that means the total portfolio needs to be in the $2-5 million range for this to work. Obviously, I'm splitting hairs over a tiny percentage of the total investment, but at what point does this actually make sense? I mean, I'm nowhere close to having $10 million to invest, but $5000 a year seems like a decent chunk of change to pay for what I could probably do in an afternoon on my broker's website. Or perhaps there are some un-advertised even lower rates that you can get if you've got this kind of money. Furthermore, if you own the individual stocks, you get the chance to vote your proxy. Maybe that's a burden on this many stocks, and clearly you need a lot more money than I'm talking about to really have an impact, but this is seemingly worth something too.

There is not a point where it is worth it, mathematically. It's a gamble, and you're not being paid for the risk you're taking. Re: VFIAX, you're not going to rebalance like they do, and is it really only made up of 30 stocks? That would be surprising to me . . . (I was right -- [there are >500 stocks held in VFIAX]( That said, when you have $10M invested with a broker, you generally do not pay brokerage fees (you keep $40k or so in a linked bank account, which gives you free trades).

Well ignoring the time it takes to rebalance once a year I'd say it's worth it when: (# of stocks you'll own)*($ per trade) < Portfolio Balance * fund expense ratio Fill in the values as you see fit.

personalfinance

theobromus

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cmckfzv

Anyone ever sold a home “as is?” What does that mean to you?

My mother passed back in February, and my brother and I are trying to sell the home. However, we’re conflicted on how to approach it. He wants to sell it “as is,” but I think we need to empty the place and put a couple thousand into it so that it might sell quicker. The house is about 20 years old and in relatively good shape. My brother seems to think that if we leave the furniture in it and not worry about some of those spots that need to be painted or patched. I’m kind of leaning the other way. Get stuff out. Replace the carpet. Patch and paint. We’re not terribly concerned about the price. We’re more concerned about running out of money for the mortgage. Anyone ever sold “as is?” What was your experience like?

Here in the Midwest there's a local convention to sell almost all properties "as is". It doesn't have any specific legal meaning, it's just a way of signalling that the seller won't make price concessions or do repairs post-inspection. &x200B I found it super weird when I first moved here and I wish they'd just let it go...

We recently sold a deceased aunt's house "as-is" because it had some potential foundation problems that couldn't be easily or cheaply fixed, and the fix couldn't be warranted -- among other issues. She also left all of her personal possessions in the house. Family members divvied up the stuff they wanted, but that still left a lot of stuff in the house. So we made the decision to sell it "as-is." We knew that meant selling it to an investor who would never pay us more than 70% of the property's fully-repaired market value. But the sales price discount was worth it to us. The repairs we didn't have to pay for, supervise, and then risk liability for; the removing of furniture we didn't have to arrange for and supervise; the additional negotiations we didn't have to handle; and the fast closing (2 weeks after contract signed) all together were worth more than the discount we expected to take on the sales price. OP's situation is the classic opportunity for an investor to buy discounted property as a "win-win." As geographically distant heirs of a decedent, none of the Sellers have the time to manage repairs, listing and sale. Just sell to a cash-paying investor, and s/he will take on the furniture removal, clean-up, and rehab to the investor's standards. Then the investor will manage it as a rental property or sell it and assume the risk that the repairs weren't up to snuff. This sort of sale serves the needs of both Buyer and Seller. Couple of factors affecting our decision: I am a real estate lawyer who actually knows quite a bit about how these investors work, and how to get the deal done. With help from a friend of mine who has a title company, I handled the entire sale from start to finish. That means I knew how to streamline the process and we didn't have to pay a broker's commission. If you sell as-is to investors, it should actually close much more quickly (weeks rather than months) than if you first take the time to fix it and clean it before you even list it.

RealEstate

Sweatsock_Pimp

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TADodger

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OriginalStomper

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Have $240k and 0 investing knowledge. Fidelity managed account a good idea or a waste?

Hello Investment-minded. I recently came into a large-ish amount of money. After all debts are paid down and emergency money is set aside, I'll have about $240k USD. I'm not a particularly knowledgeable investor, and out of fear of doing something dumb I've left it in a low interest saving account for the last few months. I spoke with a rep at Fidelity about opening a managed portfolio and it sounds ok, but Im curious about the general consensus of whether it's worth the cost. Any advice is welcome. Thanks in advance all!

The general consensus is that it's probably not worth it in the long run... Read a few top posts on this subreddit every week, and in a couple months you should already have an idea of how to manage your money. (hint: three fund index portfolio) If you can't even be bothered to learn, or have an aversion to learning, or simply don't want to manage your own money, (some people simply don't want to) then a managed portfolio is of course something that is available. Stick to fees of 1% or lower. If you want something very simple and quite cheap, check out betterment. They make it a lot easier than a lot of places.

Fidelity has been great about teaching me anything I wanted with no additional cost (once your account is set up of course). I am about to roll a 401k / Roth over from a former employer and start out on my own for the first time. I talked with someone about mutual funds for an hour. They went over everything I needed to feel comfortable; how much they cost, how to find track record, risk rating, etc.

personalfinance

Heyheythrowaway0987

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sleepyguy22

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Snaggle13

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cpho038

Graduate medical school in a year, half a million in debt.

Like the title says, I graduate medical school in May 2019. My loans as they sit amount to around $480,000 (college was expensive, medical school was even more expensive). Anyway, whenever I talk to someone about this, they say something along the lines of "Mehhh, you'll be making 250K a year, dont worry about your debt!" But thats impossible. That's all I do is worry. Anyone have advice on where to get started? I go to residency next year where I will be making 60K roughly for 3 years, and then full salary as an attending physician after that. I'm single, no car payment, all I pay right now is rent and utilities plus basic necessities.

First off, I'll join the chorus and say to relax! You have a fun and rewarding career ahead of you. A little bit more info on your situation can help us further alleviate your woes: What specialty did you match? Are your loans private or federal? How is the cost of living in the city of your residency? When are the first payments expected on the loans? Do you have a planned career trajectory? Academic, private practice, hospitalist? I'm no expert on loan forgiveness programs (we went the traditional route), but there may still be opportunities for such programs if you have any interest.

Firstly, don't worry about your student loans. You will never pay them back, they will be forgiven . Enroll for an income driven repayment plan, talk to your loan servicer. They will take your income, ask you a bunch of questions about bills and expenses, then cap your payments at 15% of your residual. Pay that for 20 years and it's forgiven. You're also eligible for something called public servant loan forgiveness as I doctor iirc. Which means after 10 years they are forgiven. I have 100k worth, my payments are 200/mo, and will have paid a total of 9936 by the time they are forgiven.

personalfinance

DwightU_IgnorantSlut

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bigbroom

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whiskeykeithan

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Which company is best leader in AI industry?

I am not friendly AI industry. I just know that IBM, MSFT, GOOGL are probably dealing with AI tech. But I think there are exist a lot of another company. So... could you let me know which company is best leader in AI industry?

AI is a catch-all term that encapsulates dozens of different technologies (e.g. Computer Vision, Natural Language Processing, Machine Learning, etc.) It's also such a new filed that you can't really say who the "leader" is because it depends on what you're defining as a "leader". Microsoft Research does a lot of things with various fields in AI but they are mostly in prototype stage. Capital One uses Machine Learning in just about everything they do (even when they shouldn't) but they're not doing R&D in the general AI field. Google created TensorFlow and is integrating it into all their existing products to make them better, but hasn't really released anything new. TL;DR There is not leader and we don't even know how to define leader.

There really isn't an AI industry per se, and thinking of it like that is going to lead you down a lot of false starts. You'll be over-indexing on things like cashier-less stores or self-driving cars. I'd say Amazon. Not because of their robots or cashier-less grocery, but because they're quietly putting in tons of work in using AI to automate unglamorous back-end processes that were previously manual.

investing

zuelearth

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SalahAssana

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Rycross

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Rollover 401k or cash out to pay off debt

I think I know the answer but I have been going back and forth on this. I recently took a new job where I am employed by the state and have a pension where I will be fully vested in 5 years. I have about $12k in a 401k from my past employer. I need to decide by the end of the year if I want to withdraw the money and take the penalty or roll over into a new account. I would just roll it over but I also have about $15k in credit card debt at around 14% interest. AT the current rate I am paying it should be paid off in 5yrs. I think I should roll over the 401k but I keep thinking it might be better to withdraw it to make a dent in my credit card bill. Any thoughts? Thanks in advance.

I know it's tempting but future you will kick your ass if you cash it out. This is a simple numbers game. If you cash it out, you pay taxes plus a 10% penalty. You will lose more to that than you're currently eating with the 14% APR debt. And that's not considering the HUGE amount of your money you're losing out on if you let this money grow over time. Stick to your current payment plan. Do everything in your power to reduce your spending and put every penny you can scrape by to this CC. You'll pay it off eventually and be glad you didn't touch retirement savings to do so.

Have you looked into any other options to help with your cc debt which don't involve withdrawing your retirement money. In addition to 401k loans mentioned, look into debt consolidation loan Negotiating cc interest (not sure if possible, but it was mentioned on wiki[1]) Credit cards with 0% into offers (But you MUST pay off balance before that offer ends) If you own a home, cash-out-refinance your mortgage or get HELOC. Read this whole page: [1] [ _can_i_reduce_the_principal_of_my_debts.2C_or_the_interest_rates.3F](

personalfinance

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