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Edit: nvm, got the information.
Leon Trotsky 2012 fucked around with this message at 20:32 on Jun 27, 2016 |
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Jun 27, 2016 20:30
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wyoak posted:I'd pay it off - worst case, if you have an emergency, you charge that to the card and wind up in the same place...at the very least pay off a big chunk of it. You can't pay rent with a credit card.
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Jun 27, 2016 23:07
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Parallel Paraplegic posted:You can't pay rent with a credit card. Sure you can, just costs a fee if your landlord doesn't accept it themselves. https://www.onradpad.com/paymyrent
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Jun 27, 2016 23:54
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Nur_Neerg posted:Sure you can, just costs a fee if your landlord doesn't accept it themselves. https://www.onradpad.com/paymyrent Plastiq gives a bit lower fee, and I think there are other competitors as well at that price point. Still not a good option for anyone, but to meet spend requirements or in a cash flow crisis, there are worse things than paying rent with a fee.
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Jun 28, 2016 00:22
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I am an idiot and am scared of online banks disappearing. The closest I've gotten to it is thinking about putting what I normally have in a garbage cd (around 40k) into a Goldman Sachs online checking account since it has a higher interest rate until I actually figure out how to invest this thing. Someone please reassure me that they aren't going to run away with my money.
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Jun 30, 2016 17:45
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TheLawinator posted:I am an idiot and am scared of online banks disappearing. The closest I've gotten to it is thinking about putting what I normally have in a garbage cd (around 40k) into a Goldman Sachs online checking account since it has a higher interest rate until I actually figure out how to invest this thing. Someone please reassure me that they aren't going to run away with my money. If it's FDIC insured don't worry about it
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Jun 30, 2016 17:53
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Yeah don't worry about actual regulated large banks losing savings money because the FDIC has you covered. But if you want to worry about the internet stealing your money may I recommend buying some bitcoins
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Jun 30, 2016 19:15
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Of all the online banks that have 1% accounts, why Goldman?
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Jun 30, 2016 19:40
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EugeneJ posted:If it's FDIC insured don't worry about it
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Jun 30, 2016 19:44
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Star War Sex Parrot posted:Please explain this to my mother who continues to let the proceeds from a house sale sit in a 0.01% Wells Fargo savings account for the last 2 years instead of at least parking it at Ally while she figures out what to do with it. There are more prominent banking names that offer close to 1% accounts if that makes her more comfortable. Barclays, Discover, American Express, and Capital One offer rates of 1%, .95%, .9% and .75%.
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Jun 30, 2016 20:04
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DeceasedHorse posted:Of all the online banks that have 1% accounts, why Goldman? Because if I actually wanted to yell at someone in person I can go there. Basically the only reason. Also it's 1.05%, so that's a bit more.
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Jun 30, 2016 21:25
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DeceasedHorse posted:Of all the online banks that have 1% accounts, why Goldman? How many of them actually have 1% accounts? The only ones I know are Goldman and Ally, and Ally recently cut my rate to like 0.85%
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Jul 1, 2016 00:00
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Parallel Paraplegic posted:How many of them actually have 1% accounts? The only ones I know are Goldman and Ally, and Ally recently cut my rate to like 0.85% I know Barclays has a 1% account and Discover has one at .95, nerdwallet or someone similar has a list I'm sure.
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Jul 1, 2016 05:10
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wyoak posted:They're still advertising 1% on their website, what'd you do to get on their bad side? I have no idea, I had the 1% for like a year and then they sent me a letter saying they were very sorry but gosh darn interest rates something something we're cutting you
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Jul 1, 2016 13:18
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Parallel Paraplegic posted:I have no idea, I had the 1% for like a year and then they sent me a letter saying they were very sorry but gosh darn interest rates something something we're cutting you Are you talking about the Ally Checking account or the Savings account? The guy that brought up GS said he had a checking account there - I didn't even know they had checking accounts
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Jul 1, 2016 14:40
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EugeneJ posted:Are you talking about the Ally Checking account or the Savings account? I have a savings account, that shows up as a savings account on their site, is marked as a savings account when I have to transfer money to and from it, but which they issued me checks for. I have no idea what that's called
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Jul 1, 2016 15:02
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Parallel Paraplegic posted:I have a savings account, that shows up as a savings account on their site, is marked as a savings account when I have to transfer money to and from it, but which they issued me checks for. I have no idea what that's called Did you get a debit card too? I wonder if you got converted to their money market account (that would explain the 0.85% interest too). Weird though.
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Jul 1, 2016 15:57
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pig slut lisa posted:Did you get a debit card too? I wonder if you got converted to their money market account (that would explain the 0.85% interest too). Weird though. I never got a debit card but I think I had the option to? It's entirely possible that I got converted to (or signed up originally for!) their money market account, it was a while ago.
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Jul 1, 2016 17:27
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Parallel Paraplegic posted:I never got a debit card but I think I had the option to? It's entirely possible that I got converted to (or signed up originally for!) their money market account, it was a while ago. Yeah, you have a money market. My normal savings account is still 1%.
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Jul 1, 2016 18:22
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I have a couple kids, a 401k, 529 accounts for both of them, life insurance for me and the mrs. I'd like to draft up a will in case my wife and I die. Is there a preferred way to do this? I don't have a house, but I have about 500k in insurance/retirement/etc, and I want to make sure that it's not a huge fight should we all die. I thought ADP total source, our HR/payroll company at work offered legal services, but I can't find it on their site. I figure just signing a document that say "my kids to go X, and my money goes to X until my kids are 18 and then it goes to them" but I want to make sure that it's all legal so there's no room for any sort of battle.
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Jul 1, 2016 18:45
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The best thing to do is just get a lawyer to prepare a will for you and your wife. If it's not hugely complicated it shouldn't cost too much, and it makes sense to pay a little money to ensure that half a million in assets is properly handled. If you know any lawyers, ask them for a recommendation for a family lawyer who can do a simple will.
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Jul 1, 2016 19:05
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Yeah what you probably want is a trust not a will, so get an estate planning lawyer involved. They'll come up with documents that will not only make sure conditional disbursements are followed but also be more tax-efficient upon your death. It's not a comfortable topic for most people, but ask the most financially savvy people you know who handled their estate planning. The business is almost entirely dependent on referrals. I spent a couple of years working in an estate planning attorney's office and found the whole process really fascinating, though I'm sure it gets repetitive and boring after a while. It sure seemed like super easy money though. Star War Sex Parrot fucked around with this message at 19:25 on Jul 1, 2016 |
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Jul 1, 2016 19:10
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Jerk McJerkface posted:I have a couple kids, a 401k, 529 accounts for both of them, life insurance for me and the mrs. I'd like to draft up a will in case my wife and I die. Is there a preferred way to do this? I don't have a house, but I have about 500k in insurance/retirement/etc, and I want to make sure that it's not a huge fight should we all die. Make sure you set up the beneficiaries appropriately on all those accounts. That takes precedence over anything in your will. Do it in consultation with a lawyer if it looks complicated or you want to use a trust.
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Jul 1, 2016 19:26
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So what makes sense? I want to leave my two kids (2 and 6) to my wife's brother, since he has a kid, and I trust him to raise my guys. But I also don't want to just sign over everything to them, I'd like to make it so they get a little money to help, but most of it is held until the kids are 18. Figure I can do something where my work life insurance (one year salary) goes to him, but then everything else goes into a trust for when the kids are 18. I figure I'll go over that with a lawyer. Anyone know a good one in the NYC/NJ area? I don't have much asset wise (no house, not huge savings) but we have decent life insurance and all that.
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Jul 1, 2016 19:49
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Jerk McJerkface posted:I figure I'll go over that with a lawyer. Anyone know a good one in the NYC/NJ area? I don't have much asset wise (no house, not huge savings) but we have decent life insurance and all that. If you want to do some reading before you talk to an attorney, my understanding is your two options are either using the Universal Transfer to Minors Act (UTMA) or setting up a trust. The UTMA will be much cheaper but will have very specific limits on how much money the kids can get and when, while a trust will be more expensive but allow full flexibility.
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Jul 1, 2016 20:23
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Jerk McJerkface posted:So what makes sense? I want to leave my two kids (2 and 6) to my wife's brother, since he has a kid, and I trust him to raise my guys. But I also don't want to just sign over everything to them, I'd like to make it so they get a little money to help, but most of it is held until the kids are 18. Figure I can do something where my work life insurance (one year salary) goes to him, but then everything else goes into a trust for when the kids are 18. My will leaves it up to the judgement of the trustee, rather than giving a set amount. The language says to provide "as is required for the purpose of providing for the health, support, maintenance and education of said child or children". There's positives and negatives to both ways. My kid(s) get what's left at 25.
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Jul 1, 2016 21:24
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Jerk McJerkface posted:most of it is held until the kids are 18 Star War Sex Parrot fucked around with this message at 22:06 on Jul 1, 2016 |
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Jul 1, 2016 22:03
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While getting advice from an estate lawyer is never bad advice, it feels like overkill here. You're well shy of the $5M estate tax exclusion limit, and you don't seem to have complicated instructions for your estate. A simple $70 legalzoom will will suffice to ensure your kids inherit, but it's held in trust until they turn xx years. I have mine set up so that they get half their share at 18 and the rest at 25.
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Jul 2, 2016 03:59
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Hopefully this doesn't pass too far in to E/N territory, but how do I convince my girlfriend that an emergency fund should be top priority for our financial goals right now? We both have a decent income and currently have a tiny bit of money saved but for the most part it's all earmarked for other expenses and we'd have to make some major shifts to our plans if anything was to happen. Basically the exact reason why a proper emergency fund should be there in the first place. She loves going to events, vacations, or buying things, all of which we can totally afford but not while trying to save for an e-fund as well. How do I get through to her that we need to slim down spending to build a cushion first, THEN we're totally in the clear to live like we currently do? I'm mostly curious how anyone has successfully approached the topic before. I make it very clear that I'm not comfortable spending money on certain things because my whole life would be screwed if I lost my job, crashed my car, or got hurt, but it's hard to say no without her taking it personally that I'm so against her adventure plans.
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Jul 6, 2016 19:24
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Stop trying to control how your girlfriend handles money? You're telling her where you're at - that's really all you can do. Other than make sure you don't get your finances too entangled with hers before the two of you have worked out an approach that's mutually viable.
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Jul 6, 2016 19:39
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slap me silly posted:Stop trying to control how your girlfriend handles money? You're telling her where you're at - that's really all you can do. Other than make sure you don't get your finances too entangled with hers before the two of you have worked out an approach that's mutually viable.
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Jul 6, 2016 19:55
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Fair enough. She's come around and taken an interest in financial security by setting up 401k contributions and a Vanguard Roth IRA, the only missing piece has been an e-fund.
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Jul 6, 2016 20:07
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You could try saying how you read some story online about this guy who was really happy he had an emergency fund. And say that you want to try to save a little before the next big purchase and if you both are able to do it together it will be easier than one person trying to save while the other pressures them to spend.
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Jul 6, 2016 20:49
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If her primary purchases are concerts and vacations and you're at the point where these aren't endangering your budget at all you might be able to still save plenty of emergency fund if she just does that like half as much, maybe don't frame it as a "you need to stop having all fun period until we do the Grown Up Responsible Things!" and find a way that she can still buy herself a concert vacation sometimes (but not as often) and put the rest into savings.
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Jul 6, 2016 21:59
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In my experience, it goes a long day to just tell her "Hey, this is important to me". You need to make her want to save for it; forcing her to do it will just cause problems. If she doesn't want to learn how to handle money well, it's probably best to just  .
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Jul 7, 2016 03:54
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You bean counters can't put a price on her concert going experience! Why, I'm going to see Weird Al next week, and he said it'll be the last time he'll be touring in Texas for a long time! Never mind that I've seen him the last three years straight and that he hasn't put out anything new since the last time I saw him (since of course, concerts fit into my budget of needs/savings/wants)! Edit: Gnarly's always got my back V V V SpelledBackwards fucked around with this message at 05:45 on Jul 7, 2016 |
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Jul 7, 2016 05:39
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SpelledBackwards posted:You bean counters can't put a price on her concert going experience! Why, I'm going to see Weird Al next week, and he said it'll be the last time he'll be touring in Texas for a long time! Never mind that I've seen him the last three years straight and that he hasn't put out anything new since the last time I saw him (since of course, concerts fit into my budget of needs/savings/wants)! +50XP
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Jul 7, 2016 05:42
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Teeter posted:Hopefully this doesn't pass too far in to E/N territory, but how do I convince my girlfriend that an emergency fund should be top priority for our financial goals right now? My gf was like this for awhile in our relationship and the solution was being honest about my money and transparent about my budget. Once we started communicating better we both changed our approach and met each other in the middle. Result, I go to fun events, she cuts back a bit so we can save. Both totally voluntary. If that doesn't work for you I like this YNAB guide for couples budgeting that is really applicable even if you don't use YNAB: https://www.youneedabudget.com/learn/guide/join-forces
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Jul 7, 2016 21:50
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Mad Wack posted:If that doesn't work for you I like this YNAB guide for couples budgeting that is really applicable even if you don't use YNAB: https://www.youneedabudget.com/learn/guide/join-forces Good read. Shared it with my wife - let's see how that goes 
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Jul 7, 2016 22:25
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Mad Wack posted:My gf was like this for awhile in our relationship and the solution was being honest about my money and transparent about my budget. Once we started communicating better we both changed our approach and met each other in the middle. Result, I go to fun events, she cuts back a bit so we can save. Both totally voluntary. I know it's not what you meant but I totally read this as you saying "You see honey if you just cut back a bunch I can use the extra money to go to fun events for you! We can only afford one ticket though, but think of how much money we're saving!  "
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Jul 7, 2016 23:26
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