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Kris-Fillip

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28k in cash left over after home sale. What should I do with it?

Long story short. I’m 36, married, and 3 kids ages 12, 3, and 1. We are selling our current home and then buying my in laws home for cheap ($325k for a $500k home). Using the discount we are getting on new home as a gift of equity to cover down payment. Should end up walking away with 100k after the sale of our current home. Current plan for the $100k is to pay off ALL debt, credit cards, student loans, car payment, etc. and after that we should net around $28k. Currently our savings is less than $1k. My dads recommendation is to stick the $28k somewhere and just forget about it and just save up money for home improvements, etc. I also don’t have any college money set aside for my oldest and was thinking of using some for that but I’m just not sure. Any suggestions would be appreciated.

If your savings are less than $1k, you need to keep the $28k in cash in your bank account. You should have 6-9 months of expenses for an emergency fund.

Don’t put it in a savings as this will gain low interest. Meet with a financial advisor and tell them you want to place it in high liquidity investments with a decent return. This will allow you to liquidate them if you need funds quickly while at the same time it will gain more interest than a savings account. If you don’t need the funds for an emergency you will get a better return in the long run.

personalfinance

fireal2112

t3_79clfs

20000to0

dp0xp6o

RipDorHigHTryN06

dp0vhw8

Are real estate seminars a scam

I've been seeing a lot of investors try to sell their training course. I am a skeptical person in general but I still try to give everyone benefit of the doubt. Have you ever paid for a real estate seminars that was actually worth it?

They're all scams. All the information you need can be free online. This is true for any type of investing, and paying hundreds of dollars for a course for a few hours is a waste of money. Besides, the best way to learn anything is to do it.

Check out Mike Winnet - he did the contrepreneur formula. and talks about these seminars - not focusing just on real estate, but all niches. If you go to a real estate seminar you’ll no doubt come across much of what’s talked about in this. Definitely worth a watch. Can also check out Samuel Leeds being exposed by the BBC for his property investor course.

realestateinvesting

britt_57

t3_ezr96l

Daily_the_Project21

fgox2j3

thirlmeredeacon

fgpiehe

Anyone not investing 6K into their Roth IRA till they see how the market plays out?

I know I am going to get blasted with "stop trying to time the market" responses, but in a time like this is anyone actually waiting to see how things play out? Granted I am only 3 years into investing and i currently have a Roth IRA (VFFVX) 2055 Retirement Fund as I learn the ropes...but I am currently down -$2,858 after the 2018 end

um you can just have it in there as cash, there's no written rule that says the moment you put money in you must create an order to buy something for the full amount

You’re 3 years into it so I’m assuming you are in your 20s or 30s. Just invest it the market is down right now it’s a great time to buy for the long term. Don’t kill yourself trying to “buy low” and instead “buy lower”

investing

AychiMama098

t3_abnind

VegetableShip

ed1orov

keene3b07

ed22dtf

Employer is paying me more than agreed upon.

I recently moved and got a new job. When I got my first paycheck I noticed it was more than I expected. After looking into it my rate was higher then I had agreed to. I let payroll know and they changed it. Now just two paychecks later my rate is back up. My question is am I responsible to keep telling them? If not what are the possible ramifications?

My question is am I responsible to keep telling them? It's a good idea to keep telling them. If not what are the possible ramifications? Any extra money paid to you that is not rightfully yours will get collected back when they realize their mistake.

Ask a local lawyer/labor law expert for advice. Don't spend the money. Make sure you have a written record that you told them. (Or if you don't have one, tell them again and try to get one)

personalfinance

TheRocketMann

t3_5vcezd

lilfunky1

de0wpdr

z127

de14rte

What happens if I have no beneficiaries for my life insurance

I just started a new job that offers free life insurance. I was going to name my parents as my beneficiaries, but as they are older (dad is almost 70, mom nearing 60) if I outlive them, what happens to that money? I don't have or want offspring, and I'm pretty single and have been most of my life so I doubt that'll change. I have no other family I'm close with, and all my closest friends have domestic partners so they wouldn't need it. I also have no property to speak of (I rent an apartment, and live in a city so I don't have a car.) Anyone have any tips on what to do in this situation?

I would list your parents for now or maybe a charity that you like. I have no kids either and put down my brother. He is older, but who couldn't use a couple of hundred thousand. :)

I can't say how your benefits work, but here's some things to ask the people administering those benefits: If you can name secondary beneficiaries. You may be able to name your parents, but then name a beneficiary/beneficiaries to be paid in the event that your parents have already passed away. If it is payable to your estate if you have nobody named or your beneficiaries have all passed away. If you can name a charity or not.

personalfinance

alexandc

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vgacolor

fi93iwv

Itssnailspice

fi9bs4z

Is hiring an accountant to do my taxes really worth the cost or is e-filing sufficient?

In my case, I only have income from my full-time job. I don't own any property and am single. Is it really worth it for me to pay an accountant to do my taxes?

While it still may not be the best choice in this circumstance, let me stand up for the lowly CPA here. A good personal accountant is someone with whom you can create a relationship, and a history as life changes occur for you. He/she would usually be on call for tax-related questions throughout the year, and may even be able to help you with tax strategies as you build that new single-proprietor business. And of course, they'll be able to back you up in the event of an audit -- highly unlikely for you this year, but it could happen. The 2012 return may not be the year for it, but if the business starts to generate revenue, then get one and try to build a long-term relationship with him/her. It will pay for itself eventually, in a way that self-filing and e-systems just can't do.

On a somewhat related note, how would one go about finding a good accountant? I have a complicated situation that I definitely need help with, but I'm not sure where to go. My instinct is to not trust H&R Block, but what do I know?

personalfinance

pelican1

t3_16tjd3

Obersts001

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c7z9hkp

ImmenseBag

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c7zdwsg

Schwab wait time, leading indicator?

On hold for over an hour trying to get through to the brokerage department. Schwab is usually ZERO wait time. Boomers buying the dip? lol 10/16P $SPY : ventilator

I just got off the phone with them and was told they have received a large uptick in options trading applications which is why mine hadn't been processed yet. Fwiw

Are people here generally happy with Schwab? I switched from RH to Schwab because I needed a new checking account anyway and their brokerage accounts had good reviews. I've been so incredibly unimpressed with them so far. I'm hoping it's just a learning curve.

wallstreetbets

someoldshoe

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newintown11

fla62ex

nooooyes

flh4d5i

Why do you actively pick stocks when you probability favors indexing?

Not attacking this subreddit, I'm just curious. Passive indexing is mathematically proven to be the best way to do things. The best fund managers can't beat the market in the long run (except for a few). So what's your logic?

They're not mutually exclusive. A bulk of my money is in index funds but I also have positions in individual stocks. I'm up on all of my current positions but that doesn't mean I'm some genius or anything. I have some big gainers and others that are neck and neck with total market index funds. I'm not going to make 400% throwing everything into an index fund, but if I pick the right stock, it can happen (and has happened). Obviously I could've lost it all as well, but that's the whole thing about investing. This is kind of going off on a tangent but people didn't get super rich by investing in index funds. Think back to some of the earliest investors, I'm thinking Rockefeller and Vanderbilt (yes I know this sounds crazy). Rockefeller was a huge investor in oil while Vanderbilt was a huge investor in railroads. Everyone thought they were crazy, but it's almost as if they could see the future. They invested in things that were going to be commonplace in American life. Now we can sort of apply this to stocks now or at least industries. Do you think electric cars will be more common than gasoline cars in the future? If so, wouldn't you want to invest in electric car manufacturers? Or maybe the companies that make the batteries? Or the companies that mine the Lithium used in the batteries? Now I'm not saying you're going to become the next Rockefeller or Bezos or anything like that, but if you think there is an opportunity in some sector or product, why not put some money in it? Obviously don't throw your entire retirement in it, but if you have some spare money, why not? Ok, I'm done rambling but I hope this helps :)

My tax differed account has ETF’s.(401k) My trading accounts have stocks because the last 20 years I have performed better than my ETF’s. But I am a gambler, I can grind 72 hours straight at a black jack table. I am not scared to put a bunch in naked calls or puts.

investing

_zyzyx

t3_byskup

[deleted]

eql3wei

BATHTUBSURFER

eqmrvdr

What's the best way to get exposure to Emerging Markets?

I'm a strong believer in the future returns of the Emerging markets on a 10-20-30 years horizon and I'm looking into getting more exposure to those markets. I'm already into the ETF VWO which is remarkable low cost (0.14%) compared to other emerging markets ETFs which are more around the 0.7-0.9% range which I consider is too much for a long term hold. Plus it holds securities from all sorts of emerging countries the 3 main ones being China, India and Brazil. It brings me to ask the following question: What do you think would be the best way to get exposure to the Emerging Markets? I think ETFs is the right way to go but does any of you guys have any ETFs from China, India, or Brazil in your portfolio that you would recommend over another? If so, why?

You're already pretty well off with VWO. Nevertheless, Poland is an economic powerhouse. It avoided recession unlike every other European country, and will likely find an increase in its European influence post-Brexit. Just [take a look]( at how well it has performed recently. I certainly wouldn't expect those returns every year -- and 20 or 30 years is too far of a horizon for me for one emerging country -- but it's definitely a good investment opportunity now. I like to take a look at country or region specific ETFs to see the largest companies and get a sense of how they are performing, as well as the country as whole. One can take a look at Russia and see it's largely made up of energy companies. Therefore, it's a good play when oil/gas prices are high or at least increasing. However, one must also consider and worry about potential risks that affects these companies such as corruption, political instability, etc. that aren't necessarily a risk in developed countries. You could also invest in Britain [post-Brexit.]( Edit: Someone replied and deleted their comment right as I wrote a response, so I will add this: I would be wary in general of investing money in companies outside of the United States, especially in emerging markets. However, Poland has two distinct advantages: it is in the European Union, and it has its own currency rather than being part of the eurozone. The Polish economy will continue to expand and diversify, but it is extremely unlikely that it would outperform the S&P 500 long term...I would put those chances at roughly 0%. Nevertheless, there will definitely be years when some of these countries -- Poland, Ireland, the Czech Republic, etc. -- will blow it out of the water.

I'm in IEMG for ~14% of my portfolio. Low cost, broad based exposure. I picked it because it has a lower dividend yield than some of the other options and I hold this in a taxable account.

investing

Azerty800

t3_6tg7sj

12_year_old_girl

dlkg88p

Janet_Bernanke

dlkmhw6

Is this mortgage guy trying to pull one over on me?

I have a 30 year loan on 150k, which I've had for 8 years. About 4 years ago, i wanted to get rid of PMI so i paid a large sum. I only owe $85k on the loan right now because I've been making extra payments. The interest rate is 4.25%. I usually put an extra $300 a month towards this mortgage making my total payment with everything included $1500. My mortgage guy claims if i went to a 15 year loan at the same interest rate and made the exact same monthly payments ($1500), that I would be paid off earlier because of the amortization schedule. That can't be right can it? Same payment, Same interest rate, i should have both loans paid off in the same time? He claims the 30 year I'm in now has more interest up front. If that's true, then i should definitely be recasting my loan or refinancing - why would i pay interest based on a big 30 year mortgage?

Mortgage guy sounds like an idiot. The interest isn't front loaded, it is calculated monthly based on the current principal. So you always pay more interest in the beginning because the loan amount is high. As it drops, the monthly interest drops. If the interest rate is the same, the monthly amount you pay in interest would be the same. Refinancing won't help.

Using internet calculators-Just google when will I pay off my loan. You should be done <10 years(depending on how much taxes/insurance run) with your current loan. He's dumb or intentionally making a false comparison. Your original amortization schedule(Which i assume is the one he's using) on your 30 year loan was no longer valid as soon as you paid more towards principal. You should be able to google/create one online for your current loan balances.

personalfinance

heapsp

t3_7u6c8l

ratzy327

dti041w

Kurthauer1998

dtieu90

Sell house to pay off debt?

We have racked up $70k in credit card debt since buying our first home in 2012. We have a home that is worth around $585k and our mortgage balance is $370k. I really think it's time to sell the house and rent for a while. It's hard to make ends meet nowadays and I'm NOT considering filing for bankruptcy, I just want to pay off the debts and move on. What do you think?

mathematically speaking, its an easy answer. sell the house, pay the debts. the rest is up to you and what you are comfortable with. If the idea of selling the house and downsizing to an apartment is manageable, then that would be the most straightforward way to fix your $70k debt.

If your having a hard time making ends meat. Do it. But be careful and check on having to pay taxes on the profits and what not. Someone else might know more on that end of it. It's just a house. Downsize and start saving some dough.

personalfinance

cHiliBoba

t3_c9mm7x

Skinder506

eszwb1m

QUIBICUS

eszvwmc

Step dad is stealing my identity.

My step dad is stealing my identity. He's using my info to open accounts. I kicked him out of my life after attacking me. Cut to 3 months later, I get a letter saying I opened an account with western union on Spanish. I can't read or write Spanish. My step dad can. They also spelled my name wrong which my step dad would do. I don't care what happens to him. What next steps should I take? Should I contact him and threaten to send him to jail for using my info? I'm ready to blow this man's life up. I'm so angry.

This pf wiki: will give you a step by step guide of what to do for identity theft. Basically, you'll file a police report, order credit reports. Contact all creditors and report the fraudulent transactions and freeze your credit. Make sure you have secure passwords on all accounts. When setting up verification questions, do not answer with the correct info (easy for your step dad to find out). For example if it asks what your high school mascot was, you have the answer be purplepeopleeaters or other nonsense answer.

In addition to him do you have any joint accounts with him? You'll need to open a new account and transfer assets there ASAP. Even if he isn't he might be able to fraudulently gain access to your accounts. I'd recommend going to a new bank or credit union that he is not aware of.

personalfinance

skeithpkk117

t3_eee6j3

KBCme

fbt8liu

pheeelllip

fbtqe7z

What options should I use my pell grant refund on?

Where my pell grant playas at?? We bouta yolo some tendies? If we lose, don’t worry were just injecting liquidity.

Ahh what a wise young man, keeping his money and gambling it instead of buying a worthless piece of paper. &x200B MSFT calls young man, go on now and make a fortune. I know low risk high reward investing is a little boring, but you can earn your tendies now and go for the yolo plays later.

Idk I'm wondering the same thing. Idk if my brain will let me just buy calls with loans cause I'm a pussy, so I'm thinking ill just opening a shit ton of credit spreads on V, SPY, BYND, MSFT, and SPCE and just relax.

wallstreetbets

emmettisouthere

t3_erw7me

MangoManBad

ff6q9u3

CreditSpreadz

ff7jccz

Helping my Mom keep her house

So my dad was crap with money. Originally bought their house in 1998 for $ 160,000. Now In 2018 he has passed away and my mom owes $ 170,000 on the house. My father had a $100,000 life insurance policy. My mother makes appropriately $ 32,000 a year and mortgage payments are $ 1,600 a month. She can not afford a mortgage that high. Also, the house appraises for around $ 300,000 now. What can she do to keep the house?

Does it even make sense to keep a big house if she's a widow empty-nester? It would make more sense to sell it and use the $130,000 to pay off a small condo cash and have no mortgage.

Unless you want to subsidize her living there? Nothing. $1,600 on $32,000 a year isn’t doable and I don’t know her age but she can’t work forever. This is not a realistic goal.

personalfinance

faulkyfaulky

t3_80d72j

abdada

duunijf

drketchup

duv491x

Should I add to retirement or pay more on student loan?

So I just got a raise, which amounts to $220 per month in my pocket. My original plan was to start putting $100/check (bi-weekly checks) into my company's roth 401k. I'm already contributing 15&37; to the regular 401k but thought it might be good to have some money in a Roth as well. I got a late start on retirement planning and only have about $30k in my account. I also have about $130k in debt between the house (3.125&37;), student loans (3.375&37;), and car (2.01&37;). I've set a personal goal of being debt free by October 2025 (45th birthday). This goal was based on extra income from Airbnb but that is on hold right now due to a leaky roof in the airbnb room. I do expect that to be resolved eventually, but insurance companies suck. I have $18,975.50 in student loan debt. If I took the extra $200 and put it towards the student loans it would shave 4 years off the loan. I would then apply those payments to the house (car will be paid off by then). I just cannot decide if I am better off putting extra towards retirement now or getting myself completely debt free as soon as possible and then maxing out my retirement options.

Follow the Prime Directive. [ Your debt is all pretty low interest, so mathematically you will benefit more from investing additional money and paying down your debt on schedule, but if having debt makes you stressed, it can be psychologically beneficial to focus on paying it down more quickly.

Many people here (also the prime directive) will advise yo to put more towards retirement based on the rule of thumb flowchart and the interest rate on your debts. However I believe the best answer is a longer more math intensive one. But not an impossible one. Project your annual raise for as along as you're planning/wanting to work. Plan a set percentage to your 401K over that same time period. Choose a realistic annualized ROI 6-7&37; is standard. Determine your income in retirement needs 65-85&37; of current bills is a reasonable range and accounts for trades like not having a mortgage vs increased medical costs. Account for inflation 2.4&37; isn't' unreasonable. Determine a life expectancy and see if your withdraw from 401K rate allows you pay for everything until your expected death age. Don't forget to go more conservative with ROI during retirement (good practice), and also don't forget to tax at a marginal tax rate for 401K and SS income (if you assume SS will be around). If your projected funds in 401K will last your entire life expectancy, don't increase 401K. You can still hedge retirement bets with a ROTH IRA, or better yet invest in a regular brokerage account to build wealth with no age related strings attached. Those funds will NOT be tax advantaged but more easily accessible in the future. Finally if paying off the house is a goal or would free up cash flow for future wants/needs you should feel totaly comfortable with that course of action. The process may seem like a lot to calculate but it's not that bad. I did it with excel over the course of a couple of hours, mainly to find errors by masking sure each step passed the smell test. Eventually consulted with one of the 'retirement check up people' and they confirmed that with the exception of some adding bells and whistles this is a perfectly reasonable way to determine your next actions.

personalfinance

Blackeyes24

t3_8tr5t9

seatcord

e19iz32

SkitzoRabbit

e1a5cze

What's stopping a person (especially those close to death with no estate and/or family) from racking up huge credit card debt and just holding it until they die?

If you can put $2000 a month toward credit card minimums, that equals to a $100,000 balance with a typical minimum equaling 2% of the total balance. With those minimums, you will hit the $100,000 after 50 months, so it's probably a dumb move, but what if you have less than 50 months to live? Could you purchase $100,000 in items and live like a king for a while? Or give them to family and friends? Of course you don't want to make major purchases that can be easily traced (cars, bills), but what about groceries, clothing, computers, electronics, etc.? Yes, they will go after your estate after you die, but if you didn't own your house or car, what it next? If you weren't legally married to your longtime boyfriend/girlfriend, but they had $100,000 in items, is that traceable? For the record, I have once credit card and I pay in full every month. I don't know anyone who is nearing death with credit card debt, I was just examining my expenses and learning about interest rates and I got curious!

You're correct, the only recourse is your estate. If you don't have any assets in your estate, your creditors are out of luck. That's kind of a sad way to go, though. [Dying with debt: A dirty little retirement secret](

This is my plan c. I hit 45 and its turned out really shit I'm goning to max out a credit card and then drink and fuck myself to death in Thailand

personalfinance

[deleted]

t3_2dtuxt

Tenarius

t1_cjt0dji

cjt0dji

IntoxicatedHobo

t1_cjtk7wz

cjtk7wz

What’s so different about right now than where we were around a year ago? Why sell now?

I’ve seen a lot more of those “it’s probably time to sell, we’re at the end of the bull market, boomers are getting old, etc” in a place where last year every time someone said something about selling people got tired of saying “don’t try to time the market” what’s so different now?

at a naive level? it's one year closer to the unknown start of the next recession. trade troubles are new one year closer to the next election which is historically not great for markets because policy changes get tossed about by potential presidents the fed's interest rate stance has changed for a start

It’s political, they can’t get rid of trump via obstruction so the big narrative is that our economy is doomed. Not a bad move tbh, the market tends to react heavily to FUD.

investing

cpayne_10

t3_bvwxcb

wanmoar

eptcwtu

lavenderq

epux2pk

Had a problem with a previous bank account. Want to open a new one.

Back in 2008 I had a checking account through United Missouri Bank (UMB) and my debit card was stolen. The person used it in a half dozen or so transactions and the account was overdrawn. This ended up racking up like a $500 negative balance. When I became aware that the card was gone, I notified the bank that the card was stolen and started working with the fraud department. I opened a case, gave them all of the information, filed a police report, etc. In the end, I received a letter that my fraud claim was denied and UMB stuck me with the balance. I basically told them to stick it where the sun doesn't shine and since then I haven't had an account. I operated in cash; cashing pay checks and paying all my bills with money orders. I recently decided I wanted to open a bank account through a local credit union. When I applied they told me that I can't open an account with them because of the discrepancies I had with my UMB account. I am wondering what I am supposed to do? I don't feel like I should have to pay the balance that was fraudulent, but I want a bank account. Any suggestions?

Take this as a lesson and start using credit cards, never a debit card. As for the remaining balance, you'll either need to pay it off (along with any accrued fees/interest) or get an attorney involved. Otherwise you'll be unable to open an account anywhere.

Go to Metcalf bank and they can set you up with an account that has no debit card for 18 months to rebuild trust. Bank of America did the same thing to me and Metcalf bank was the only one that would help.

personalfinance

Topbow

t3_1r1zvt

Ghostofazombie

t1_cdirww9

cdirww9

memmo1

t1_cdiy214

cdiy214

Just saw ~$975 appear in unauthorized charges on my CC from an equipment rental shop across the country. Charge is still pending. Am I disputing this the right way?

I've never been to Michigan, I know 100&37; I didn't authorize this charge. My plan is to first contact the establishment to see if I can work out the issue with them, and then once the charge posts to immediately file a dispute through my CC company. I'm going to call my CC company tomorrow to have them replace the card, since it's clearly a problem, and I'll change all my login information tonight. Is there anything else I'm missing? I was looking around for a sidebar link for this and couldn't find one, sorry in advance if this is something I shouldn't be posting for advice on.

Don't bother contacting the business. You need to contact the bank who issued your CC because your CC has been compromised and needs to be replaced. The bank will take care of contacting the business. There's nothing else you need to do.

Had a similar situation last month. Unfortunately, it was a Wells Fargo CC. They reversed the charges initially but now "found me responsible" for the charges. I made a claim with FTC and CFPB - which seemed to have some affect on the reps from Wells Fargo. They wanted me to send them a proof that I was in a different state on those dates. When asked what exact proof, they said "well, there is no specific thing we can tell you to get us, just something that proves you were in a different state". Hate them so much. That WF Zero Liability is a scam. Waiting to hear back from them...

personalfinance

reebeepoe

t3_8ugw6g

Gonzohawk

e1fddcz

Smoke_Bellew

e1gjxxk

Is there a way to file my 2012 taxes for free?

I used turbo tax for this years return. I can also file 2012 but I have to purchase the deluxe version. Is there a way around this?

[Here's the link to all Form 1040 revisions at IRS.gov.]( Have at it. When you prepare the return, be sure it has your current address. Do not input any refund direct deposit information. Attach your Form(s) W-2 on the left margin of page one. Sign and date the return and mail it in. Allow 6 to 8 weeks for processing.

I'd recommend filling out online the [freetaxusa 2012 version]( then printing it out and mailing it in along with your w-2. You won't be able to efile, but i did this with my 2014 federal filing a few weeks ago and it was free and easy.

personalfinance

Cantcallit

t3_44is87

these-things-happen

czqh7gm

Jijster

czqjeqe

I was told I would be making $11 an hour. Got paid today, only made $9.75 an hour...

Hello! I’m just looking for a little advice on how I should handle this situation... I never signed anything that said I should be making $11 an hour, only told. When I got my check today, I was only paid $9.75 for the hours I worked when I was supposed to be making $11. I’m sure this was just an accident, but will they have to pay me the money I’m missing on my check? How should I bring this up to my boss?

"Boss, I just got my first check and it has the wrong pay rate. Do you fix that or is there a specific accounting/HR person I need to talk to?"

$11 an hour? Unless you are a kid working your first part time job I would suggest that once you get this resolved you need to resume the job hunt on the side. $11 is not a fair wage for most roles in 2019. It's certainly not a livable wage if it's full time. Of course, location has a lot to do with it too. If you are in the middle of nowhere it might be livable.

personalfinance

Surrender-To-Hope

t3_d0fnc5

Meghanshadow

ez9c3m1

MiyamotoKnows

ez9ec32

I'm looking for a place to rent and am uncomfortable with the amount of information landlords take in.

I usually rent rooms in a house so don't really deal with management companies. One application I have asks for bank and credit card account numbers, even though they already want your SSN. I feel like that's unnecessary and rather risky, as maybe they don't shred it, or maybe another roommate sees it. Is this something I should be concerned about?

I've been renting for 10 years, almost never longer than one year in the same place, multiple states, and I have never been asked for bank account or credit card numbers.

In my area (SW Michigan) they don't even need your SSN. The game is trust, and providing personal info is just one way to win it. There are alternative paths to earning trust if you're willing to put a little more work into it. I've had 3 landlords, and so far they've all accepted variants of this: I don't want to give you my SSN until you've narrowed the applicants down to the short list. If you're just going to use it to run a credit report, I'm happy to provide you with a copy instead - the last time I checked my credit score was ###, with no late/missed payments. Here's my previous landlord's name and phone number as my reference, and a copy of my last paystub. Note that I've only rented directly from homeowners; it might work differently for apartment complexes.

personalfinance

EXTRAsharpcheddar

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copper_unite

dg2ahg0

Peewee223

dg2qroi

Looking to buy my first large (100+ units) complex

So a little background, about 8 years ago I bought 4 units in a medium sized condo complex. I lived in 1 unit and rented the other 3 out. About a year ago I moved out of mine to go to grad school across the country. Fast forward to today, the entire complex is being bought out by a large development company. At the end of the day after taxes and everything is paid out I will be sitting on about 1 million cash. I am looking to take that money and finance a 5-6 million, about 100 unit complex. To those of you that have owned property of this size and price range what are some of the benefits or challenges you have had owning such a property? I'm debating weather to start my own management company to run the complex or to have someone else do it. questions comments?

My quick advice. 1. Due Diligence. Due Diligence. Due Diligence. 2. Starting a management company would generate more income for you since you will not be paying another company, and to protect you as well. But it will be more of a headache. 3. Hire a staff. A property manager/leasing agent, and a few maintenance guys, one full time at least, maybe more depending on workload. 4. Get a lawyer on retainer for evictions, and other problems that arise. Again, just my two minute advice. Good luck!

Good on you! Any chance you could share about how you first got started with your condos? A little Reddit stalking shows you were pretty young when you first bought them, I'm curious how you got started!

RealEstate

jacquesaustin

t3_1c2a69

drewcantdraw

t1_c9cbvir

c9cbvir

Toast42

t1_c9cdgpf

c9cdgpf

$1000 compounded for my great grand children?

I'm thinking of starting a tradition where every one in my lineage would set up $1000 compounded for their great grand children and in return they get the money that was set up for them. I know my family would have to wait three generations for the tradition to take into effect. My kids and grand children would also set up accounts but wont get any proceeds(because we're the first ones). But, I wanted to know if this is a good idea or a bad one. Would there be legal challenges? Would inflation make this worthless? Just a note: I am 18 and this is me thinking way too much. I don't even have a girlfriend. I understand that traditions die and I'm just wanting to know if this is a good idea logistically. If anything, it's a 1000 dollars down the drain as an experiment.

My grandmother did this for me and my siblings on our first birthdays. As far as I know it was just an account in our names with our parents named as trustees or joint account holders. The money was to be turned over to us upon graduating high school asa graduation gift. I don’t really remember how much she put in to start but it was a couple thousand dollars when I got it. I bought a cheap boat and spent the rest on weed and booze when I got to college.

It took me a bit to come up with a method but this is actually possible with Ethereum. What you need to do is securely send a password to my future grandchildren even if I'm gone. The problem with that is where do I store it and how do I make sure it gets to the right person? Also how do I ensure that it will definitely be sent and someone won't take it early. I think using Ethereum you can make a pretty good guess. If I make code that only triggers in the year 2100 it would be pretty hard for a single person to fake the date. That single person would have to mine a block and get it in before the entire rest of the network does so. Very unlikely. I wonder if anyone would be interested in a service like this.

investing

NotTryingToConYou

t3_8lbov7

Lerk409

dzeddhv

zemmekkis

dzfbj5a

Is "living off investments" a reasonable goal and how might I be able to achieve it?

It's not that I don't like work. I just don't like working for other people. I don't like waking up early. I don't like being bossed around. I don't like living/working by a schedule set by someone else. I would much rather do whatever interested me that day. If that means reading or studying, then do that. If that means working on a project, then do that. If that means laying in bed all day watching Star Trek, then do that. I've come to realize the only way I'll have that freedom is if I have enough money to support myself without having to "work" for it. The only realistic method I can imagine doing this is either A: winning the lottery or B: work for a while, save and invest, so that later my money works for me. I just don't know the best route for that. I've looked into dividend stocks. But I would need an extremely large sum of money to live off just that. Tens of millions of dollars to generate a few tens of thousands of dollars a year. I've looked into owning my own business, but that may even be more time consuming and stressful than working for someone else. I've looked into owning rental property or passive income streams, still, there is a large amount of time spent keeping and maintaining both of those that they will eliminate the personal freedom I desire, even if they do liberate me from working for someone else. I just need a plan, or a path, or some direction to head for and I don't know where that starts. Advice? Help?

Learn to live a simple life and find happiness in simple things. You don't need tens of of millions of dollars. If you live simply you could get by doing no work with a million in safe investments. If you work hard and save diligently you can have a million in maybe 15 years. There is no easy path to this. It will require multiple jobs. Go for it.

Dividend stocks are a fad and irrelevant for most purposes, including this one. You need a lot of money to live off of your investments. A safe perpetual [rate of withdrawal]( is perhaps 2%. So if you want 30k in income per year (that increases in dollar amount by 2-3% each year, to keep up with inflation), you need 30000/0.02 = $1,500,000 to start with. This would be with a balanced portfolio of stock and bond mutual funds -- again, ignore dividend stocks.

personalfinance

weRborg

t3_15jqwz

coricron

t1_c7n2dab

c7n2dab

mackstann

t1_c7n2q9q

c7n2q9q

Is there a site I can get the list of stocks least-favored by analysts?

I've been reading that stocks least favored by analysts actually outperform the most-favored ones. This could be a source of good investment ideas. Does anyone know a site where I could get a list of this?

I'm bearish on you after some analysis. Which by your logic is a good sign. So just do what you're gonna do and you'll beat the market in no time! But seriously, the vast majority of online analysis is either manipulation or clickbait. Keep reading before you do anything drastic. And remember, if someone actually had a reliable pattern, wouldn't they be a billionaire?

I was just reading research done on this topic and there was little relation to analyst recommendations and performance. But their recommendations were more associated with positive performance. So doing the opposite might not work. The one thing that was statistically significant was when analysts change their recommendation either upgrade or downgrade. In the short time following those changes performance matched their recommendation.

investing

kookoobear

t3_4h7v3r

ifitsmeanimdrunk

d2o5uqp

derpygoat

d2ocyju

31 years old, got a job offer in LA 85k salary, 5k relocation package to move from Denver CO.

I got a job offer in LA for 85k salary. Judging by cost of living in LA, is this enough to make it? Would need to live close to West Hollywood or Burbank. We need a house with a yard, as we have 3 dogs. Currently making 55k in Denver. If anyone has some advice, or experience moving to / living in LA, it would be really great! Thank you in advance!!! UPDATE! Thank you for all the replies! we lost cell service on the drive home, finally back in action!! To clarify some things! 1) Yes, my fiance will be working and contributing tent, bills, etc. i am comfortable paying more for rent as i will be making more $, though we split pretty mich everything else. 2) We are Not trying to buy a house. Definitely renting. i have seen some spots, 2 bdrm with yard ranging 1900 - 3200 in the general west Hollywood / burbank region. 3) the position is an upward move from my current position, though i do realize there is inflation to adjust for. Again, thank you all so much!!

The dogs are pretty much a deal breaker for your situation. You'd be able to afford an average 1 bedroom apartment around West Hollywood, but a houses are incredibly expensive. Apartments are pretty restrictive with dogs. If you wanted a house you'd have to live pretty far out, like 2 hour commute one way via car far

Of that 30K well over half you will give up to increased housing costs and taxes/fees/regulations. Compare the rental costs of where you could be living to where you are now. Unless you work from home your commutes will be longer time-wise on average. Then again LA has its perks. If you are doing it for the money realize you are not actually getting 30K more, probably closer to 12K more due to higher living costs. How does moving to LA fit in with your family plans? Kids in your future? What about accommodations that accept dogs, are there any? How close are you to other family who could be supportive in the event help is needed? Good luck.

personalfinance

gershgoroth

t3_7moupi

atmcrazy

drvjqh9

Xiccarph

drvjmmv

Is this offer as good as it seems?

Spouse and I live in NJ. Spouse works in NJ and makes $110,000/yr. I also currently work in NJ and earn $70,000/yr. &x200B I have a job offer for a company based in CA. I would work remotely from NJ, with occasional travel to CA. The offer is for $120,000/yr. &x200B When I heard that number, my little heart skipped a beat. But then I remembered...taxes. &x200B I am trying to figure out: &x200B -What would the take home salary of this offer look like? Do I have to take out CA and NJ taxes? Or only one? which one? -My current NJ company may want to make a counter offer. What pre-tax figure would match this offer in terms of take home salary? &x200B Brand new to Reddit, be nice :) Also posted in r/tax

But then I remembered...taxes. Even if you had to pay California income tax on it, the difference would only by about $2.5k, or around 2% of the gross. Throw in 1% more for SDI, I suppose.

CA is a little different since you are earning the money in CA. I just filed after moving from CA to another state and I basically was responsible for paying all taxes to CA for money earned in CA. Check out the forms for CA, there are likely some FAQs on the FTB (Ca’s tax body). It’s possible you would end up not paying NJ tax (though you’d have to file) and end up paying CA.

personalfinance

threedeechess

t3_apvxlf

MarcableFluke

egbiw69

VPR2012

egbuspp

Just received a hospital bill for $50000, what do I do?

Hi Reddit, In November 2018 I switched jobs and during the time that I left my job and the health insurance for my new job kicked in I had a blood clot in my lungs and just received a huge bill. My last day was on the 9th of November and started my new job the week after. I did have back surgery in October, and the blood clot happened a little more then a month after. Its horrible that it would have been cheaper to die. Please help. EDIT: I just checked my last paycheck from my old job, it was dated 11/15 and medical was deducted from that check.

First, try not to panic. I have like 200 (exaggerating, but not by much since I am currently in the ER waiting room!) health problems, so this happens a lot. Call the hospital billing office and explain what you said here. Tell them that there is some question of whether you should have been covered at the time of service. Ask them if they can give you time to gather more details. Take down the person’s name, the date and time you called, any extension or employee ID numbers, etc. I recommend keeping this info in something like a Google Sheet so you don’t lose it if your computer crashes. Ask them if there are any programs available for bill assistance. I have gotten Medicaid retroactively because my employer did not provide insurance and then I lost my job due to health issues and had no income. Even though I had income previously, I had no income on the dates of service, so check into that. If you had income (started new job immediately), ask if they do anything like a sliding scale or charity care. Your income, of course, will determine your options here. If you make too much money to qualify for any kind of help, ask to do a payment plan. Some hospitals are flexible about this, especially the ones that tend to care for the indigent and accept a lot of Medicaid patients. One hospital I go to is letting me pay $25 a month on a $3K bill. The other won’t let a payment plan go longer than 24 months, so I am paying them $180 a month. Document, document, document. If you live in a one-party consent state and the office you are calling is in the same state, you may want to record the calls. Make sure you call the old insurer, too, to find out about when your coverage was terminated. If the full premium was paid and there was no prorated refund, you may be able to argue that you should have been covered.

Aren't you elibible for COBRA for 60 days after your coverage termination? I'm not sure if you can retroactively apply after that 60 days, but it would be something to look into.

personalfinance

Dan_Scream

t3_b6r6zn

ChewieBearStare

ejmrqqt

freddybob

ejmztw7

I'm 17, the electric company is taking everything from us

This may be unclear because I only have an anecdotal understanding of my home situation. I live in southern New Hampshire. I'll be 18 in August, and graduate high school in 2016. I've lived in my home, with the help of a section 8 voucher, for over 10 years. Recently the electric company (PSNH) was absorbed by EverSource, which to the best of my knowledge is some conglomerate utility company. Anyway, my mom had been paying whatever she could to them for all this time ($50 a month here, $100 there) while racking up a debt of nearly $12,000. We are also supposedly under protection of medical need of electricity, as my mother and brother have asthma. My mother apparently missed a payment with EverSource for $200 this month. This is normally not a problem if she calls immediately but I guess she didn't. Normally the Public Utilities Commission keeps these companies from shutting off services like this but because she didn't call, according to my mother they gave EverSource the ability to "collect at will". They demanded the "reasonable" payment option of $3,000 a month for 4 months. When we couldn't pay, they shut off the electricity. Here lies the problem, without electricity, Section 8 won't provide us assistance with the rent we pay. We have no income (though I work at Wendy's full time over the summer and part time during the school year) and can't afford the rent. So my mother came up with a plan. She proposes we get a different place, move in, and get utilities under the name of her fiance. I dont even know if this will work but I do know that I don't want to have to move. I only have 1 year left if high school and I don't want to spend it homeless or uprooted. I'm here for help because I don't understand and I'm hoping someone can help me learn about my own poverty. I'm trying very hard to break this cycle and save my family. I guess my real questions are; Is there anything I can do personally? Why can they shut of the power when my mom needs it? She is in terrible health, and there is a very strong possibility she has cancer, but thats a different, simultaneous story) Is there anyone I can turn to for assistance? Is there ANY chance of me saving my home this month? I know this is probably too lengthy and vague, but I'm very desperate. I will do my best to clarify as things develop but I need to turn somewhere and the adults in my life aren't quite as fiscally responsible as the type of person I'm looking for. Thank you very much if you at least read this.

I'm trying to figure out how you rack up $12,000 in power bills... but that's besides the point. Has your mother called Eversource and the Public Utilities commission to get the power turned back on due to their medical necessity or is she jumping right to moving? To me making calls to those two groups seems like Step 1. The fact that she missed a payment wouldn't seem to be a reason to allow them to shut off power if there is a medical need or children are living in the house (how old is your brother, I assumed younger but maybe he's older?) Next question, how does Section 8 know the power is off? Do they inspect? I personally think it's unreasonable to live without electricity, but how would the Section 8 people even be informed that this has happened and stop their assistance? The LL probably will not care as long as the building is being heated in the freezing months. Last question, you said you collectively have no income... it sounds like your mom must on some sort of disability or is maybe eligible? Where is your father in this? If he's alive he has an obligation to financially contribute, if he's dead then you all should be eligible for some sort of survivors benefits.

How is it even possible to rack up $12,000 worth of utility bill? Where If I miss two months payments, they are coming by to shut off my power until it is paid.

personalfinance

DrHolyNipples

t3_3d7fi2

hmbemis

t1_ct2j637

ct2j637

rrruuddyy

t1_ct37mc6

ct37mc6

Could anyone explain the best way to tackle Student Loans

They seem overcomplicated. I have about 45k in student loans but they are broken down into so many smaller loans I don't know where to start. Can you choose to pay off the higher interest ones first, subsidized vs non-subsidized, pay interest or principle first. Etc. And does it make sense to prioritize these loans over paying of cars or houses or is it just interest based. Any help is appreciated!

Pay the minimum on all the loans. Make extra payments to the one with the highest interest rate. That spans across all money you owe regardless of type. Consider them all the same and make the extra payments to the one with the highest interest rate regardless of type (usually CC first, then student loan, then car, then mortgage).

You'll need to make at least the minimum payment on all the loans, but beyond that, yes, you can choose which one(s) to pay more toward, in order to pay them off faster. And does it make sense to prioritize these loans over paying of cars or houses or is it just interest based. Strictly from a financial point of view, no, it doesn't really make sense to prioritize paying off loans if they have a lower interest rate than other debts you have. Some people do prefer to prioritize them, though, since they feel weighed down by the long-term debt.

personalfinance

passingwisdom

t3_5iigyh

Raiddinn1

db8ftf4

ekcunni

db8kkst

My mom is in extreme debt, what are her options?

My mom is HEAVILY in debt. She owes about $30,000 in credit card debt and a loan from one bank and I suspect another $5000 from another bank (whether in loans or a credit card, I'm not sure as she won't tell me). She is a 67 year old Japanese woman living with a green card here in the states. Divorced. Single. And her body has barely been holding up. She worked as a timeshare sales person and earned either minimum wage or commission, whichever was higher for the month. And she worked there for years. Despite my efforts while I was living with her to get her to change jobs, she wouldn't, and she suffered greatly for it. She lived completely in denial at that time, claiming she wanted to keep the job for health care benefits. But she's living in even further denial these days. She has since changed jobs BUT she recently lost one part time job and now just works at some photo department part time, making just minimum wage again. She has no assets. She has no control with her credit cards and has somehow tripled her debt since 2011. Like seriously, her minimum payments to her credit card are over a grand... I really don't foresee my mother getting rid of her debt on her own. Especially at her age. Realistically... what are her options? I thought that she may have to apply for bankruptcy... but it seems like such a difficult, daunting task for her. She doesn't speak good English and I do not live in the same state to assist her. And I also heard it costs money to apply for bankruptcy? I am not able to assist her. My sister once gave her a large sum of money (I think around $8k to help her and her debt just exploded threefold since then). We both feel pretty helpless...

I assume you are in the United States. She can get a free consultation with a bankruptcy lawyer to tell her what her options are. Is she receiving Social Security retirement? If she is then she can default on her payments and they can not attach or garnish her SS payments. If she is working part time they will not be able to garnish her wages because her pay check is too small. Of course, she has to be willing to face her problems. If she won't then there is very little else you can do.

First of all your mom should stop using the credit/debit card. She should use coupons to purchase her stuff Sell some jewelry Sell her car and use public transportation Shop at a dollar store Maybe sell her house and get a smaller one if she lives on her own Prioritize what she has to return (not necessarily the highest amount) Avoid buying not important stuff Decrease as much as possible the use of electricity She could also take care of pets as a side job Sell her crafts and writings online Pay more than the minimum payment.. Sell everything that she doesn't need in a yard sale

personalfinance

trinitykills

t3_4omzse

LQ9823

d4dyoc2

Myrna2016

d4e3fw6

On a scale of 1 to Hooker, how loose is RobinHood with level 3 options approval?

So I’m turning 18 and cant wait to to finally lose my life’s savings like one of the boys. I’ve been successfully paper trading on thinkorswim plus doing research into this for the past 6 months, however, I’m young, don’t have a steady income and have like ~$2000 saved up to blow so I know damn well I’m not getting approved on a real broker for the next 10 years and I’m just gonna have to live with RobinHood for the time being. I’m only trying to do defined risk trades and I’ll be as responsible as one could be about it. For those of you who have experience with RH, what forms do I have to bs, or how long am I gonna have to wait until I can tendie chase?

So I’m turning 18.... I’ve been successfully paper trading on thinkorswim plus doing research into this for the past 6 months Why don't you just apply for a job at Robin Hood risk management. You'll make more money and probably be their most qualified employee.

buy a few puts and calls. sell a few cash secured puts and call. Do a covered call or two. You will be in like Flynn. Then YOLO everything you have on the SPY. Can't go tits up.

wallstreetbets

BigPamp

t3_eh19r4

jeff_the_old_banana

fcbzd3q

option-whisperer

fcfb7ac

20 years old, full ride to college, $12000 dollars in the bank. How much should I put in a mutual fund?

I get paid 600 dollars a week in my job. Very minimum expenses every month, and already own a car. No debts at all. I am thinking about going with Charles Schwab for my mutual fund. Tell me what to do with my money. (Any suggestions, tips, advice etc. will help tremendously) Main goal: Have about $25000 coming out of college. With investment and all other assets.

$12,000 isn't a lot of money espcially when you're going to be having a lot of variable expenses with moving, cost of school, parties, jobs, internships... . I would just save it. Once you have your first real job out of college then worry about retirement. On top of that turning 12,000 into 25,000 is 20% interest yearly/ 20%+ performance yearly (not including fiancial fees). Not really a reasonable expectation.

Keep it in savings. Use it when you graduate to get an apartment, work clothes, furnishings, and maybe a car when you start working. Other option : Open up a Roth IRA and start putting $100 a week into it. Invest in a Russell 3000 or SP500 mutual fund.

personalfinance

koltokolton

t3_6d0oq3

Scuffedjays700

dhyuwbr

mattymaxxx

dhz8o31

Is my real estate agent lying or just bad timing?

So I was looking in NY and decided to look at some properties in CT. Because of this, I was suggested by one agent to use another. Okay, great. I get in touch with this new agent who seems very nice (they all are...) and I send her a list of properties I'd like to view. Now, these properties are not new, have been on the market some time. There were 9. I get an email two days later that 4 of the 9 were sold or are under contract. This was Monday. Then on Thursday, two of the remaining 5 had offers and I was told we can still view them and if we like them we have to hurry up and put an offer in (I feel this is an urgency tactic). I feel that it's very strange that houses I liked are sold, under contract, or withdrawn from the market but are still on Realtor. Some are also still on the MLS matrix as well. I have a feeling I'm being lied to. Don't know why, maybe I'm paranoid but doesn't this seem fishy? Should I contact the listing agents of the houses myself to figure out what is going on?

Where exactly are you looking for the houses? You said "on Realtor" - are you talking about Realtor.com? Because most of those sites/apps (Trulia, Realtor.com, Zillow, even RE/MAX) are wayyyy outdated. I know from experience. The one that is good and up to date is Redfin. Now Redfin isn't everywhere, and this is not necessarily a Redfin plug and I'm definitely not using them as my agency when I buy, but I do have to say their app is top notch and stays up to date.

Have a RE agent give you a login to is correct, all public RE listing/search websites are outdated. I found them to be about 1 month lag from real time. I was searching for houses in Westchester, NY and Western CT for quite a while about two years ago and a few agents would send me houses via It's like a super crappy zillow, but it's got all the behind the scenes up-to-date info, including status (under contract, no longer on market, etc.). I would use zillow to find houses I was interested in, then cross check them on that website. Super useful. Or just work with a good RE Agent who can show you properties just before they get listed. This was also very helpful. I was viewing properties alongside contractors who were potentially buying them to flip. They had first dibs and I was right there with them.

RealEstate

dontfuckingthink

t3_5gbqdc

rosegold-

daqyn5k

TALLscott

dar4ejg

Is an allowance really the best way to teach kids how to manage their money?

As a soon to be father, i've started thinking about how I would like to teach my kids good financial habits. Usually when I read up online, most blogs recommend allowance and budgeting. While that is better than no training, I've always though an allowance is enforcing this idea that a steady stream of money is a given, and does not require work. In my theoretical household setup, any money they receive should come from work, instead of an allowance. Either chores, or optional duties above/beyond chores. These additional work options could be things like: Sorting Laundry Mowing the Yard Doing dishes Does anyone else feel the same, or do something similar with their children?

I'm not convinced they teach kids anything. I've never met a kid who managed his allowance well and everything they actual need gets paid for anyway. It's just a kid's discretionary fund that they're incentivized to spend. I read about a guy who paid his kids interest on their allowance, but at ridiculous rates. I think he paid 20% interest per month or something. I thought that was interesting, his kids were constantly torn between "investing" and buying things they wanted.

One thing my parents did with me, which I plan to do with my son when he is older, is explain how much things cost at the store. "These shoes are $60, that's X hours of work for mom, that's why you should take care of them"

personalfinance

Thinkbravely

t3_7rbegt

geeimus

dsvl8j4

Letitbemesickgirl

dsw2bm1

The necessity of real estate in plans for FI?

I'm currently reading the Automatic Millionaire Homeowner by David Bach. I think a lot of his statements are problematic, but I can't deny that the majority of people who've become FI seem to have a heavy involvement with real estate. Maybe it's just confirmation bias though. Therefore, I'm wondering if anyone has become FI (or is on the way to becoming FI) without significantly personally investing in real estate (I don't consider REITs, just people who own property and are landlords or use a property management company). If real estate is necessary (or at least, makes the journey much shorter), how does someone with absolutely no knowledge go about getting started? Is it just a matter of having the discipline to save up a down payment and then hiring a property management company? Or should you learn how to do home repairs and buy fixer-uppers? If the latter, how do you learn those skills, assuming you don't have any friends or relatives to show you how -- do you just sign up for classes at the local community college?

Real estate is a common path because in the US it is by far the easiest way to do leveraged investing. That is, if I borrow $90k, buy $100k of stock, have it appreciate to $110k, and then pay off my debt, I netted a 100% return. But finding someone to lend you $90k to buy $100k of stock is much, much, much harder than finding someone to lend you, say, $90k to buy $100k of house (which will either appreciate to $110k, or can be rented out for $10k/year). Having said that, I own no real estate besides my residence, and have no intention to own any.

So OP, if you prefer to invest in securities, the Canadian tax sheltering vehicles are RRSP and TFSA (sort of equivalent to the American 401k and Roth IRA). I'm glad you asked the question because I'm not handy at all and I don't like the idea of dealing with tenants. I'm just starting out in my working career so I'm far from FI but I do maximize my yearly RRSP and TFSA contributions.

financialindependence

Criama

t3_2tylr7

plexluthor

t1_co3ka7p

co3ka7p

Urbul

t1_co3thti

co3thti

IRS pursuing me for not including PayPal on my taxes in 2013

Hello all! In 2013 I used eBay as a side business for some extra income. I primarily sold trading cards, and at the end of the year lost more money than I gain (so i thought). I didn't include eBay or PayPal on my taxes (or anything for that matter) in 2014 when 2013 taxes were due. I received a letter in the mail from the IRS stating that PayPal reported me as having taken in 27k+ and the IRS wants their cut of roughly $4,000. I know that I lost money through my eBay/PayPal store, and my PayPal could prove it I assume. Some options I've already considered: Try to import 2013's PayPal history into Quickbooks and break it up into tax deductible and not tax deductible and hope for the best OR Import everything as a csv into Google Sheets, total it all and see what it says. This option wont work so well because it includes the times were I spent money on random stuff and was sent money for non-business things. Any advice? Thanks in advance for any advice or support. I've spent this entire year trying to get on top of my finances and as I'm nearing stability this happens. Life in a nutshell.

If you didn't take in $27,000 of payments during 2013, I would follow-up with Paypal to see how they came about to get to those s. Paypal is supposed to be reporting money sent in when exceeds a certain amount (10k? 20k? unsure, but you can google it). As others have said, it's up to you to report the income/expenses on your taxes though.

PayPal gives monthly statements just like any other bank. Log on to the desktop version and you should easily be able to see and download your entire years statements. Like most banks errors do sometimes occur. The IRS also just like most things makes errors sometimes. But it's your responsibility to make sure it is corrected. You did attempt tax evasion by not including the information even if it's less like you said. In America as a self imployed person which this qualifies as if you make more than $400, don't quote me on that, on the year then you have to pay taxes. Welcome to being an adult.

personalfinance

Algamish

t3_3sholv

billthecatt

cwxbt19

pudge27george

cwxkwuo

Suspicious that my father may open a credit card or something in my name.. how can I check, and what should I do?

Hi, PF. My father is in a bad financial situation. He has an impressive combination of medical debt, credit card debt, car payments and a mortgage from a house that he irresponsibly purchased after my mother divorced him. He is trying to sell his home and move into a smaller home in the near future. As the title suggests, I just have a nagging hunch that he may open a credit card in my name, if he hasn't already. This is really just a hunch, based on a funny question he asked about my SSN last week, and the fact that I know he's struggling financially. I would like to know if I have any way of checking exactly what exists under my name that could have an effect on my credit. Is there something simple/reversible that I can do to take precautions? Some other info: I am 24, out of the house and married. My wife and I have good jobs, no debt, and combined 100k in savings. We hope to buy a house in the next two years. Sadly, it would not be out of character for my father to do something sneaky like this, and it would not be out of character for him to let it get out of control really fast. Thanks for reading and your suggestions!

Once you get your credit report, even if there's no shenanigans, consider putting a freeze on your account. Depending on your risk tolerance (ie paranoia) you can keep it that way and just unfreeze it when you need to apply for credit, then freeze it again afterward. You'll have to freeze your credit with all three reporting bureaus though

Read: Specific to you: Check your credit report at all three credit bureaus via annualcreditreport.com. (Normally, I would suggest staggering these, but you need to see where you are and once you do step 2, you'll be good to go for a year before the next time you check.) (Optional) Set up Credit Karma while your credit is still unfrozen. Freeze your credit at all three credit bureaus (a fraud alert is not enough here, do a freeze at all 3).

personalfinance

superhir00

t3_506mfv

ryeshoes

d71k7ww

dequeued

d71oa5n

Request a reduction in rent in exchange for landlord not fixing shower?

I am a newly single mom with two young children that I have 50% of the time. I moved into a town home at the beginning of the month and pay $1325/month for rent. It is a 2 bedroom, 1 3/4 bath and while it is a bit high as it relates to my budget (31% of take home), it was the safest place I could find in my area for the price (I searched for 2+ months). I also think I am paying about $50 less per month than market value on the place. The day I moved in, I noticed that the shower pan in the master bath had a massive crack that the property management company missed during the move out of the previous tenant. The crack makes the shower unusable as water would just leak right through to the sub floor; the entire shower insert would need to be replaced as it is all one piece. I notified the company and it is written in my walk through checklist paperwork. I have not heard anything about them replacing it yet, so I was going to contact them today to get a status. After living there for almost a month, I have realized that I really do not need that shower. I have been living in one bathroom places with my ex and kids for 4 years, so even having the option of two showers seems excessive to me. Is it worth my asking for a $25/month reduction in rent in exchange for them NOT fixing my shower, effectively making the house a 1 1/2 bath? Are they legally obligated to fix it even if I am willing to sign paperwork stating I won't use the shower? I know the owner is pretty cheap due to what they didn't fix after the previous tenant of 5 years moved out (carpet needs replaced and they didn't repaint the place), so I feel like the owner themselves might go for the proposition. Is there any reason I am not thinking of that makes this a bad idea?

No harm in asking, but the landlord has a responsibility to repair it at some point. You can ask for a reduction in rent until it is fixed to give him time to get to it as you have less functionality than you expected for the price you’re paying, but once it’s fixed and available, it’s up to you if you use it or not and the rent would go back up.

UK here. My bathroom sink was unusable for a month, I notified my landlord and he did nothing. Another month rolled by, nothing happened. I stopped paying rent, nothing happened. He noticed after 3 months I hadn't paid rent, nothing happened. My sink began to leak under the floor and literally flooded and destroyed the entire flat below me and it STILL took a month for it to be fixed. So basically I got 4 months rent free for a broken sink. I'd advise you raise it and request an immediate fix, if it isn't fixed stop paying (but keep the money aside) and it will soon be fixed and then you can pay your arrears minus a negotiated discount.

personalfinance

KindofCrunchy

t3_f9v4dh

Mr_Mach

fitys78

CubanHermes

fiuzxm2

Just Sold Everything

Yesterday I sold about 80% of my positions of my 100k portfolio, including DDD, GOOG, AMZN, EBAY, SBUX, COST, and others (about 15-20 stocks). I kept a few that were hovering around -10% - +10% but everything else that was up more than that got sold. I cashed out with about 25% worth of gains. The S&P is it it's highest since about 2007, yet we still have tons of unemployment, underemployment, government debt, congressional ineptitude, possible inflation, etc. I'm not staying out of the market for long though. I'm going to get back in to the other positions I've had if/when they drop, or pick up other stocks on my watch-list if the prices start to look good. I'm also going to focus on two areas: global companies that have 50%+ revenue from outside the US, and riskier smallcap up-and-coming companies (like DDD) that have growth potential. I may also buy another 1-2 ounces of gold. I don't think the market/economy is going to crash per se, but I do believe a 'correction' may occur in the next 1-6 months. Not sure if this is the best strategy, but I figured I'd post it to see what type of criticism there is, or if anyone else is doing something opposite/similar. Thanks in advance!

If the market goes the opposite way and continues to march upward steadily, how will you decide when to invest back in? Curious what signal or which issue you listed being resolved is a trigger for a bullish response. On a side note, I would say reflecting on the level of the S&P 500 compared to 2007 can lead to psychological anchoring. If the housing bubble had gone up higher before deflating, would you have a different relative view of whether markets are under/over valued right now (all else equal).

50%+ revenue from outside the US This has been an investment theme of ours for a few years, and YUM was one of our first purchases along those lines. We bought AAPL nearly a decade ago but are holding tight for the same reason. Which companies do you have in mind? I think that bonds will bear the brunt of any correction thanks to debt monetization by central banks around the world, which I think will put upward pressure in interest rates as inflation can no longer be hidden by cooking the numbers. Also keep an eye REITs that rely on low interest rates. We've done well with NLY, but that may change. I also wouldn't want to hold companies that sell non-essentials to US consumers. The Pacific Rim and some developing countries should continue to do well. I don't know the details of companies operating there, so we've stuck with mutual funds that target those areas like MAPIX and TDF. We own a fair amount of gold and gold mining stocks. The latter have been on sale from a P/E perspective for years.

investing

theorymeltfool

t3_174jpi

Jahlapenoez

t1_c8251ab

c8251ab

Stubb

t1_c829b7c

c829b7c

What is the target growth rate for your portfolio?

And how often do you adjust your portfolio to improve it?

My target is in line with the s&p 500. I’ve typically found that the more I adjust my portfolio the lower those returns will be. You may be wondering why I’m not all in on the s&p 500 then. It is my biggest holding, but the reason I also choose individual stocks is because I want to at least have a chance at beating the market.

My core portfolio includes US and International total market funds plus a US small value and overall US tilt. A side portfolio is a bit more advanced and uses the S&P500 as its benchmark. Since February inception it’s been on a tear; XIRR of 66.8% vs. 9.7% for S&P500 :).

StockMarket

Wyatt_Eich

t3_dg2dgv

zerodc4213

f38391b

MotoTrojan

f39xctd

I'm a student and I'm £950 in my overdraft

It's interest free and it goes up to £2000, but I'm so scared. I had a several horrid issues this year that cost me a lot of money so now I'm stuck in this pit. Come mid September I will get roughly £2870, but my first load of rent is £1600. I'll end up further into my overdraft by then, and I'll be right back into it. If I live frugally until my next student loan comes in I should be ok, as my next load of rent is only £1200, which with my next £2879 should leave me with around 900... And I should be completely out of my overdraft permanently then. I currently can't get a job because I've got to care for my grandfather over the summer and there is no real way for me to make money until I move back to University. I can't tell my family because they will be so disappointed and disgusted in what I've done. Is there any way I can make money from home? Anything at all I can do. I'm selling my PS4, iPod Touch and around 13 games, that should net me £250, but after that there's nothing else I have to sell... I really need help.

You have made a mistake by letting your expenses exceed your income, but please do not make it worse by hiding it from your family. No matter how much you fear judgment, they are probably your best resource. This is the advice you probably did not want to hear. You may be able to offer household services to neighbors of your grandfather. Typically senior citizens need help with basic things like cleaning, laundry and small fixes around the residence. In most cases they cannot afford a professional aide and their family is not around to care for them like you are for your family member. You would not be taking advantage of them as most people in this situation desperately need someone, but have no one around. Charge them fair prices. If you do this you will still be in close proximity to your grandfather to help him. You could make a couple hundred dollars a week. Good luck to you.

Get yourself a job. I lived comfortably at University working weekends, aim especially for bar work its long hours on weekends so you can possibly work 4 days worth of hours you would tend to get in retail in the space of 2 nights... Also im still £1500 in my overdraft. You have 3 years after you finish university to get that paid off so yeah, get yourself a job, plan your income, plan a budget and enjoy university!

personalfinance

Throwaway93939393994

t3_90p7gm

forgingry

e2s32ip

KyeThePie

e2sahfi

Bought first property. Advice on next steps?

Hello everyone. Last November I purchased my first home which is a triplex in my city for 165k. It needed love and I spent between 10-20k on repairs/upgrades. I currently live in one of the units and rent out the other two. After mortgage, taxes, insurance, water, and sewage the house nets a profit of $850 per month. (If the third unit was rented I would estimate another $1000-$1200). I have a nest egg of 10k just in case and another 5k in stock investments that is doing so-so right now. I also have a full time job at 75k a year. Now my question is what is the best way to move forward? I spoke to my broker about a second property and he stated I would need 25% down to get approved since it would be considered an investment property. That's 40-50k estimated that I get another triplex for at least 200k. Would buckling down the budget and just grinding to 50k for deposit be the best bet? Just looking for some advice on what to do next. I thought about trying to flip my first house but I would imagine I would still need a decent deposit to put down. Any advice or insight is greatly appreciated. Look forward to hearing from you guys!

One other option would be to save for another year and after two years in this triplex you can buy the second one as owner occupied and move into that one. Rent the one you are living in so you have more cash flow. With owner occupied you can again put 20% down and get better terms.

You can’t even rent out the third unit and you want to tumble more into debt with just 5k of investments at hand? You’re getting too greedy. Work, rent that third out, save up for another year or two, find a higher paying job which might require moving and look into the next property then.

realestateinvesting

ChristianGig96

t3_8y6382

qureshins

e28odys

[deleted]

e29eltg

Where is the 10% money?

Hey all Are there any 10% down for investment property loaners?? I’ve been asking a few and it seems to be 20-25%. Also, what are your typical closing costs? I bought a $165,000 STR about six months ago and they were around $5000.

You're probably only going to find that through hard money lenders. i.e. private parties. A loan officer at a bank is trained to determine if a borrower can afford the payments and will make them. Usually through an analysis of credit and income. Banks do this millions of times a year and have gotten quite good, though not perfect (see 2008), at determining risk and setting interest rates. They are not set up to determine if a real estate investment is a good one, nor is it a risk they really want to take. They make their money from volume lending based on easy to apply algorithm. Hard money lenders usually have investment experience themselves and are set up to evaluate investments. They also have the the time to careful review a proposed investment and work out specific terms for that loan. So they can do just about anything they want. It's even possible to do nothing down, though that usually requires a previous track record with the lender and a well thought out project that has a high likelihood of success. It is usually short term though. While some do 15 or 30 year terms, many want their money back sooner. So they might just finance through an initial rehab or for 3-5 years until the LTV allows for conventional financing. Rates are also higher. Sometimes even 10+%. So the flexibility comes at a cost. But it can often be worth it. Once you have a good relationship you can often access significant sums of money very quickly allowing you to basically be a cash buyer.

here its 10% down for a duplex, 20% for a triplex and bigger, same for commercial &x200B comes down to what the property is listed as on the cities website i bought a 'duplex' with 3 units with 10% down. they added an entrance for the basement and made it a separate 3 1/2

realestateinvesting

bourbon-poo-poo

t3_belbj0

SeattleBattles

el6rioe

worktillyouburk

el7fq1g

My mom is using my name for her bills

Hi, this has recently caused me to be extremely anxious. My fiancé and I stayed a couple of nights at my parents'. I noticed there were bills coming in that were in my name. Now, this is no personal post, so I won't be nit-picky with the details. I am ~20 years old and recently checked my credit score (first time). However, I can't. Maybe they've mixed up my name/social with another person because I cannot get the score. However, I am able to view companies that have looked at my credit before. There's been 3, one of which when I was a minor. Anyway! When I confronted my mom about the bills (she cares for them), she said they were "only" in my name, but no SSN or DoB was attached. Is this legal, or even possible? I have no clue, and if it isn't legal I have no idea how to go about this. Please help!

Nope. That's identity theft. They don't do you any favors, nor is it at this moment negatively affecting you - but if those bills get defaulted, it's your credit taking the dive.

A small note, SSN is irrelevant. If credit report companies can connect you to a name and an address, then negative stuff will end up on your report. Yes, you can work to get it removed, but it'll be work. Definitely put a stop to this on your end. If she's using your name, it's probably because your parents' credit is so messed up no one will open accounts for them. And if they've messed up their own credit, there's no reason to assume they won't mess up yours.

personalfinance

Identitythrowaway666

t3_4cuuxm

FinnTheDogg

d1llp44

libgeek

d1m085k

I'm looking to get a credit card and keep getting these offers in the mail. Are they legit?

I tried sifting through the resources on the sidebar but couldn't find what I was looking for. As a preface, I am 24 years old. I've never had a credit card before, never had student loans or car loan. I make around 30k~ annually. I'm looking to get a credit card to help build of some semblance of credit. Would anybody have any recommendations? I've applied for a couple but have gotten denied. Today in the mail I got a thing from Capital One the "Platinum MasterCard." Would this be an okay option? I intend to use it like a debit card and pay it off immediately.

Rule 1: Don't get a card with a fee when you are starting out. Oldest cards establish the length of your credit history and closing them can negatively impact your credit later. Rule 2: Don't close any cards that have no annual fee - additional available and unused credit is always positive for your score - just shelve the card and forget about it. Rule 2a: To keep old cards active, set them on auto-pay from your credit card for the full statement balance, and put one revolving charge like a phone or internet bill on them. Rule 3: Apply for all cards you are interested in at the same time. New rules around credit reporting (in the U.S.) require that credit agencies consider multiple credit pulls of a similar type at the same time to be one pull, which harms your score less. You have about +/- 3 days (about a week total) for that window, but best to apply all at once in case consideration by a bank drags out. Rule 4: Maximize your benefit by getting cards that have either cash back, airline miles, or points that you can functionally use (usually as either cash back or as plane tickets or hotel stays). Best cash back will usually be about 2% for everything (like Citi DoubleCash) or 1% + 5% in certain categories at certain times (like Chase Freedom). Neither have fees. The air miles game can be useful, but wait until you are ready to seriously get involved, as most cards have annual fees and don't beat cash back unless you travel a lot or get seriously involved in churning cards. Rule 5: Do not ever use credit cards to purchase something you cannot afford in cash. That is the beginning of a very dangerous and expensive cycle. In the event that Rule 5 must be broken, it is good to have one card available that you never use which has no annual fee, the lowest interest rate you can possibly find (ideally under 8% and as low as 5-6% APR), and will be chipped out of the ice block you keep it in only for extreme and life-threatening emergencies when you have an exit strategy. There are more rules, but this will get you started. As stated, I like Citi DoubleCash and Chase Freedom used in tandem to maximize cash back as my go-tos... I keep a credit union credit card with a very good rate as an emergency card. I also play the airlines game, but this is churning, requires a lot of attention to detail to maximize, and isn't worth the hassle for most people. Good luck building your credit! Don't be afraid of having credit cards - just treat them like the very serious financial tools that they are...

If you get a 1cm thick package from a credit card company in the mails, who do you think is paying for that? Their customers! Here is a rule of thumb I have had good success by following: "Never patronize unsolicited goods or services." Get yourself a secured (read: prepaid) Visa or Mastercard, and use to build credit. Don't start out in life by raping yourself with fine print on a mass-mailed credit card.

personalfinance

SkaSC2

t3_48efwo

OrwellianChild

d0j3wt9

iamonlyoneman

d0izi08

I would just like a second set of eyes on my budget...

I'm 21, own a condo I inherited and have a "house mate" My income is as follows: Job: $744.xx bi-weekly House mate: $500 monthly. ($300 once a month, $200 once a month. My expenses are as follows: Car Insurance : ~$160 Gas : ~$200 Security System: $55 Electric: ~$115 Gas (house): $70 Internet: $55 Cell Phone: $65 Netflix : $8 Gym membership: $20 Maintenance Fees : $208 Property Taxes : $980/3 months Water: $70/3 months ...I dont think I'm forgetting anything. I also have one credit card at a ridiculous 18.99% interest and have a balance of ~$400, and another at 10.99% but I use that and pay it off so I do not have a balance on it. I have about $5,000 in a savings account (which will be $6,000 after I get my refund check from school) and that's earning .75% For a while I felt like I wasn't able to afford all my bills because I was hit with a few expensive things (old room mate not paying, new tire, paying for school) but I feel like I've caught up and have cut back a lot of my bad spending habits and eating out habits. I am just looking for any feedback or advice anyone may have. Thanks!

Pay the credit card off. RIGHT NOW. No reason to carry a balance, especially when you're sitting on cash. I see $1300 in expenses every month, and about $2000 in income. So that's good ... but where is the other $700 going?

Your Car Insurance seems high to me, unless you have a nice car. Maybe time to shop around. Also a security system? I would ditch that if you can (might be required in the bylaws or something?)

personalfinance

xplosyvlykerosen

t3_1yk6oh

ANGR1ST

t1_cfl8kdy

cfl8kdy

influenzaremix

t1_cfle34q

cfle34q

18,parents kicking me out with only a buick im my name......any advice?

Pretty much what title says at 18 y/o my parents are kicking me out which is in a few days. I have 100 dollers and a car so im not sure what to do. Any financial advice that would help me start out? Thanks for any info!

If you don’t have any family or friends you can crash with then my suggestion would be to get yourself free trails at gyms that have showers so you can be clean and presentable for job interviews. Start applying everywhere ASAP, pride can not be a factor here, ANY job is better than no job. Apply in person (better chances) at all the fast food places, large retail food restaurants and retail chains. You can also look for job fairs in your community and surrounding areas. Look online for any churches or food banks that could help you with any donations/meals. Be prepared for a hard time but always keep in mind that “this too shall pass” and it’s only the first chapter to your journey. Good luck!

I am sorry you are going through this. As others have said tell others about your situation. If you can't crash with family or friends, stay in your car. Find a job asap. Find a local library for wifi/computer access if needed. Find local food banks and homeless shelters. Good luck.

FinancialPlanning

myaltforhomelessness

t3_f744oi

CalmYourTitties88

fi91fsp

kayb1987

fi99pnc

Ford bought back my car, am I on the hook for capital gains?

My car was part of the Ford transmission lawsuit issue. The car was bought back as part of Ford's pre arbitraton buyback program, and they followed the lawsuit's guideline of paying off the car's remaining loan balance + what I've paid minus a mileage fee. The thing is, that combined buyback is more than the original sale price of the car. Sale price: $16k Loan balance $6k Cash payoff $12k Do I have to pay capital gains on that extra $2k? Thanks for your help!

Since it's technically a lawsuit settlement that does need to be included as income, right guys/gals? See IRS text from Publication 4345 below: Loss-in-value of property • Property settlements for loss in value of property that are less than the adjusted basis of your property are not taxable and generally do not need to be reported on your tax return. However, you must reduce your basis in the property by the amount of the settlement. • If the property settlement exceeds your adjusted basis in the property, the excess is income. For more information, see the Instructions for Schedule D, (Form 1040) Capital Gains and Losses and the Instructions for Form 4797, Sales of Business Property.

What state did you purchase your car in? At the top of the sales contract there should be a "Federal Truth-in-Lending Disclosures" with 5 boxes. The first box should be your APR, the second box should be how much you'll pay in interest over the course of the loan, the third should be the amount financed, then your total payments, then the total sales price. What are those numbers? My guess is that you're missing something, and you have not actually obtained more than what you put into the car.

personalfinance

Carbuybacktax

t3_8n8gnq

BlazinAzn38

dztoju9

lemlawatty

dztyo44

I filed my tax return already, but just received a 1099-MISC. How do I fix this?

I submitted my tax return earlier this month and it was accepted by the IRS last week (1/23/19) and then the status was updated to "Approved" yesterday (1/26/19) with a refund scheduled to be sent to my bank on 1/30/19. I was stoked until I saw a 1099-MISC from Google in my mail box. I have an adsense account because I wanted to cash in on the mean comments one of my youtube videos was getting. I posted the damn thing back in 2013 so that I could link it to my personal facebook account and I forgot that it was publicly viewable. Long story short, I monetized it and now my cat video has made me more than $1000 collectively over the past few years. This is the first year I've received a 1099 because it's the first time the video has made more than $400 in the same year. Should I be worried that I didn't report this on my return?.

Prepare and file an amended return on [Form 1040X]( Mail the amended return after you receive the refund from the original return. Assuming you owe additional tax on the income, [pay in full]( no later than April 15 to avoid penalty and interest charges.

Are there any other 1099 that you think might show up between now and tax day? If you don't remember then you might want to wait to amend 2018 return. If you need more time to file the amended return then you can just pay the amount you think you'll owe first to not incur a penalty and just file the return later (even after tax day). You would also have to amend all the years before that you received income but not 1099-MISC from Google. Some people won't do this since the IRS didn't get the 1099-MISC from Google but do you really want to evade taxes?

personalfinance

GlassOnionSkelter

t3_akdmfo

these-things-happen

ef3zqdq

intervested99

ef408e2

I'm 17 and I'm going to be kicked out the day I turn 18 (In 72 days: July 13th). No savings, no car, 2 jobs, I need a plan.

ORIGINAL POST I'm currently 17 years old. On July 13th I am going to turn 18, I will be kicked out of my house on the day I turn 18. I have 2 jobs, one that pays $11.50/hour (Usually about 4 hour shifts on average) and the other pays $10.00/hour (Usually about 6 hour shifts on average). I need a plan for what to do once the day comes. I have school from 7:25 to 2:15 every weekday until June 3rd. The only way I can even think of changing my parent's mind about letting me go to college next fall is to raise $1300 to pay for 2 courses at my local community college. Please help, any advice is welcome EDIT: I Have autism so going into the military isn't an option, I'm not physically capable to do much manual labor. The jobs I work are in a retail clothing store ($10.00) and a retirement home as waitstaff ($11.50/hour). The reason I don't have any savings is that I've had expenses like a car in the past. However, in the past month, I have totaled my car, got a replacement and have had to put the replacement in the shop because there is something wrong with the transmission causing it to not be able to shift out of first gear. I don't qualify for many grants because the combined income of both of my parents is about $250,000/year (Dad: $10,000 and Mom: $240,000)

Well, first off, fill out fafsa and have your parents fill out their part. Doesn't mean you have to take the classes, but at least you'll have more information about that possible choice. It doesn't take long. Second, go talk to a military recruiter (if you're at all interested in that route). Might be worth checking into, especially if you're careful about your savings (most enlisted can maintain an 80-90% savings rate). Just don't get blinded by all the shinies they promise you, it's not for everyone. Third, stop spending any money whenever you can avoid it. Don't eat out, etc. Learn to cook if your parents don't cook for you (just use what's in the fridge/cupboard). Save whatever you can. If you decide to get an apartment, etc, that money will be your security deposit. Lastly, find out if either job will give you more hours come summer. Depending on the job, ask for full time hours, a raise, benefits, etc. It never hurts to ask.

If I were you, I would look at switching jobs first. Your immediate concern is establishing yourself independently. If you're physically capable, some construction or landscape work can pay well. It's grueling but gets better after the first couple of weeks. More importantly, it can at least allow you to live reasonably (clean and safe) while you save money.

personalfinance

musical_theatre_nerd

t3_8gjr4e

FatchRacall

dycad08

FindingUsernamesSuck

dycnxn0

Stock pickers of reddit: what motivates you?

When you could just buy the S&P 500 or the World portfolio and go on with your life? Is beating the index the reward? the hope to generate higher returns? greed? or simply for ethical reasons? ... ?

I find it psychologically rewarding. Picking and buying stocks pushes the same buttons for me as picking and buying a new camera, a new computer, a new phone, etc. But instead of filling my drawers with junk I fill my portfolio. I don't quite get the same thing when buying ETFs or whatever. It also encourages me to be more frugal in my daily life.

Investing in individual companies based on fundamentals and research is fun. I want to beat the market. There are a lot of bad companies in the broader indices that I don't want to own. I don't have confidence in the S&P 500 and other broad indices to generate good returns over the next decade.

investing

naxabiru

t3_b21twd

Horg

eiq140a

captainhaddock

eipwisp

What are the benefits or downsides to buying a house in full?

If i wanted to buy a house cash money in full, what are the negatives and positives. Is there anything that i should be aware of for sure if this is the case?

They will tell you that taking out a mortgage paying 4% while investing the money and making 6% will give you a net gain of 2%, and it will. That said I paid cash for mine and find the psychological benefits to be worth it.

Much, much lower transaction/closing costs which on any property under $100k can make up a hefty percentage of the property value. Higher cash flow from the property, though lower ROI. Can't lose the house to foreclosure (aside from taxes, etc).

RealEstate

1234and5

t3_2vtuni

AnnieThrope

t1_cokvr0s

cokvr0s