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Parallel Paraplegic posted: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! " Haha yeah that was a misstatement on my part, basically we both scaled back our approaches a bit and accommodated each other so we both have fun and both save :-)
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# ? Jul 7, 2016 23:45 |
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# ? May 25, 2024 07:05 |
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slap me silly posted: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. Dredging this back up, is that correct? Having a will that says one thing but having designated beneficiaries differently seems like its inviting a potentially costly dispute. I am no lawyer but my guess here would be that you would want those accounts already designated out explicitly to not also be in the will. Is this just wrong? I guess this is the kind of thing I should be asking a lawyer...
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# ? Jul 10, 2016 01:46 |
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As far as I know it's correct. You should ask somebody who actually knows anything. There's no need for any dispute, the law is cut and dried and the bank will ignore the will.
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# ? Jul 10, 2016 04:36 |
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waloo posted:Dredging this back up, is that correct?
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# ? Jul 10, 2016 04:43 |
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Should I be building a full emergency fund or going hard on paying off my student loans: My Situation: $33k in Student loans between my wife and I. Currently paying off at standard rate +$100 a month. I have about $5k in savings at the moment. Currently I have about $2k left over per month. (After all expenses and putting employer matching max into retirement.) 6 months of expenses would come to around 18k-20k. I'd love to get rid of the student loans in huge $2k chunks, but I'm inclined to think that it will actually be safer to start building my emergency fund?
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# ? Jul 12, 2016 17:59 |
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I was in a similar situation, and chose to pay the loans. That said, I felt very stable in my job, and was pretty sure I could get another quickly if something went wrong. I also didn't own a house or car, and was well insured, and my rent was $800/mo so not much could go expensively wrong. I did keep increasing my savings by a couple hundred a month though, just blasted the rest into the loan.
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# ? Jul 12, 2016 18:42 |
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The rate on the loans matters.
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# ? Jul 12, 2016 18:57 |
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One of my bank accounts is with a local credit union and I get 4.07% dividend/interest for the first $500 and then 2.44% after. I only have around $1,500 in that account right now. I know that those are high interest rates but I'm considering withdrawing my money out of there and putting it in my investment account or Roth IRA with my financial advisor. I rarely have activity with that credit union and they require me to do X Y and Z every month to retain that account. I'm also going to be moving soon and I would rather not deal with it. What do you think?
Busy Bee fucked around with this message at 08:08 on Jul 13, 2016 |
# ? Jul 13, 2016 08:04 |
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Busy Bee posted:One of my bank accounts is with a local credit union and I get 4.07% dividend/interest for the first $500 and then 2.44% after. I only have around $1,500 in that account right now. I know that those are high interest rates but I'm considering withdrawing my money out of there and putting it in my investment account or Roth IRA with my financial advisor. I rarely have activity with that credit union and they require me to do X Y and Z every month to retain that account. I'm also going to be moving soon and I would rather not deal with it. What do you think? That's a really good return rate for an emergency fund. What do they require you do every month?
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# ? Jul 13, 2016 12:24 |
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Busy Bee posted:One of my bank accounts is with a local credit union and I get 4.07% dividend/interest for the first $500 and then 2.44% after. I only have around $1,500 in that account right now. I know that those are high interest rates but I'm considering withdrawing my money out of there and putting it in my investment account or Roth IRA with my financial advisor. I rarely have activity with that credit union and they require me to do X Y and Z every month to retain that account. I'm also going to be moving soon and I would rather not deal with it. What do you think? Don't use a financial advisor for amounts of money less than, oh I don't know, $1m.
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# ? Jul 13, 2016 12:38 |
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Not sure where to ask but I have 4K in an HSA and switched employers to someone without an HSA.....what happens to my money?
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# ? Jul 20, 2016 17:53 |
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They're like 401Ks. It's still your money.
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# ? Jul 20, 2016 18:00 |
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Star War Sex Parrot posted:They're like 401Ks. It's still your money. So can i still use it for medical expenses....?
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# ? Jul 20, 2016 18:17 |
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Star War Sex Parrot posted:They're like 401Ks. It's still your money. And even better than 401ks, you can have your HSA with any custodian you want and can move it around at any time regardless of your employer. Your employer may say "we will only contribute or direct deposit to X custodian" but you can move that money periodically to a different/better custodian of your choice without leaving your employer. Waroduce posted:So can i still use it for medical expenses....? Yes. Once you have money in an HSA it is your money that you can use for qualified medical expenses at any time regardless of whether you are still on a qualifying HDHP. You only must be on an HDHP to contribute to an HSA.
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# ? Jul 20, 2016 18:19 |
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Waroduce posted:So can i still use it for medical expenses....? Yes. e:f,b
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# ? Jul 20, 2016 18:20 |
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Guinness posted:And even better than 401ks, you can have your HSA with any custodian you want and can move it around at any time regardless of your employer. My current employer doesnt do HSAs. Im on a PPO plan i think. But ok cool a least i can still use it thanks
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# ? Jul 20, 2016 18:26 |
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Speaking of HSA, my understanding now is that it can only ever be used for healthcare costs. Does anyone have any clue/plan what's going to happen to that money if the US ever adopts single payer healthcare? (In the next 30-40 years?)
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# ? Jul 20, 2016 19:54 |
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Sudden Loud Noise posted:Speaking of HSA, my understanding now is that it can only ever be used for healthcare costs. Does anyone have any clue/plan what's going to happen to that money if the US ever adopts single payer healthcare? (In the next 30-40 years?) At retirement age, you can withdraw from your HSA for non-medical expenses as if it were a traditional IRA. That's why many high-earning people treat their HSA as an additional retirement account and don't spend it. I imagine that if the US makes the switch to universal single-payer there will be some sort of provision for accessing that money penalty-free, but even if the IRS makes no change there are still plenty of things that would qualify for spending. Dental, vision, prescriptions, etc. But that is a problem I would be absolutely thrilled to have.
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# ? Jul 20, 2016 20:06 |
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You can buy condoms with HSAs, so the answer, like many other questions in life, is to have sex more often
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# ? Jul 20, 2016 23:59 |
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canyoneer posted:You can buy condoms with HSAs, so the answer, like many other questions in life, is to have sex more often
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# ? Jul 21, 2016 00:17 |
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I thought that was for FSA. I haven't seen anything about that kind of limitation with an HSA account. If that's true, then after maxing out my HSA for a couple years, I have a bit of work to attend to...
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# ? Jul 21, 2016 00:27 |
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Yeah as far as I know that was just for FSA's because people would go and buy tons of poo poo from Walgreens before the money evaporated at the end of the year
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# ? Jul 21, 2016 02:11 |
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The lists of qualified expenses are identical for FSA and HSA as best as I can tell, since websites for both seem to just point to IRS publication 502. Here's what my provider lists, which looks to be one of the better documented lists: http://learn.healthequity.com/qme/ Condoms are listed as qualified, FWIW. Most over-the-counter medications need a prescription to qualify though, it seems.
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# ? Jul 21, 2016 03:00 |
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Star War Sex Parrot posted:Most over-the-counter medications need a prescription to qualify though, it seems. It used to be that even things like ibuprofen, benadryl, and contact solution were qualified expenses for HSAs (and FSAs?). But that changed a few years back. Guess someone in the IRS decided it was too appealing for abuse.
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# ? Jul 21, 2016 04:30 |
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Guinness posted:It used to be that even things like ibuprofen, benadryl, and contact solution were qualified expenses for HSAs (and FSAs?). But that changed a few years back. Guess someone in the IRS decided it was too appealing for abuse.
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# ? Jul 21, 2016 04:35 |
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You can still buy anything with an FSA card - it's the cardholder's responsibilities to keep receipts in case they get audited. I've seen people buy cigarettes with FSA cards. HSA cards are flagged at the POS if there's not a qualifying purchase being made.
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# ? Jul 21, 2016 14:39 |
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EugeneJ posted:
My FSA card does this as well. If I make only FSA items purchase i don't need to submit recipt.
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# ? Jul 21, 2016 15:05 |
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Yea, my FSA works that way too. If I buy a bunch of stuff at CVS it will only ring up the eligible things and I need to swipe a regular card for the remainder. Maybe that is just proactive enforcement from CVS as a vendor, though? The only thing my FSA asks for receipts from is, weirdly, one of my doctors. I have no idea what they think I could be paying for that isn't FSA covered there.
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# ? Jul 21, 2016 15:17 |
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edit: nm
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# ? Jul 21, 2016 18:01 |
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I am not sure if this belongs in the Long Term Investing thread, but it seems a little basic for what is going on there. I am trying to work out how bad/good my retirement vehicles are. I was looking through the documentation I have, and found the 'Total Expense Ratio' for my 401k - is this all I need to look at to work out what its costing me, or are there going to be other things I'm paying that are somehow not included in total expenses? It says the ratio is 0.69%, which seems.... not terrible for a 401K? I contribute to it to get my employer's match, but I would like to know if/how badly I am getting screwed.
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# ? Jul 25, 2016 01:39 |
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Ashcans posted:I am not sure if this belongs in the Long Term Investing thread, but it seems a little basic for what is going on there. I am trying to work out how bad/good my retirement vehicles are. I was looking through the documentation I have, and found the 'Total Expense Ratio' for my 401k - is this all I need to look at to work out what its costing me, or are there going to be other things I'm paying that are somehow not included in total expenses? It says the ratio is 0.69%, which seems.... not terrible for a 401K? I contribute to it to get my employer's match, but I would like to know if/how badly I am getting screwed. What funds are you invested in? .69 would only be good if you have a bunch of exotic funds that you probably don't need if you have to ask. ER is based on each fund, not overall. A good 401k should have access to an S&P 500 equivalent index for less than .09 ER.
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# ? Jul 25, 2016 01:43 |
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I think its just one fund, the whole thing is allocated toward a retirement fund with a target date. I say 'think'because it wouldn't surprise me if that actually gets counted as a bunch of different funds under one umbrella or something. I guess this means I should look and see if there is a better expensed fund available. I went with the target date one because I was very aware of my own ignorance and didn't think I would know how to make allocations appropriately.
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# ? Jul 25, 2016 01:49 |
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.69% is fine for a 401k in a target retirement, especially if you work for a small/midsized company. You could do better, (Vanguard's IRA TR funds are something like .19%, and I've worked places that got close to matching that), but you could do worse (my new company's is close to 1%).
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# ? Jul 25, 2016 03:46 |
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Yea, my company is pretty small (<50 people) so I guess that is part of it. I did look into their S&P 500 index fund, and its expense is barely any lower (.64%), so that doesn't seem to be any use. Does it make sense to just contribute to my ER match and then put any excess contributions to a vanguard fund? Or would it actually be worth it to regularly move money from the 401K to a vanguard IRA? Assuming that is actually something that I can do and isn't nightmarish in the logistics.
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# ? Jul 25, 2016 18:52 |
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Ashcans posted:Yea, my company is pretty small (<50 people) so I guess that is part of it. I did look into their S&P 500 index fund, and its expense is barely any lower (.64%), so that doesn't seem to be any use. Does it make sense to just contribute to my ER match and then put any excess contributions to a vanguard fund? Or would it actually be worth it to regularly move money from the 401K to a vanguard IRA? Assuming that is actually something that I can do and isn't nightmarish in the logistics.
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# ? Jul 25, 2016 20:06 |
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So, my mattress has gone bad. Big ol' crater in the middle. My issue is that in order to go up a price category and hopefully avoid this situation for the foreseeable future, I'm looking at like a $1500 purchase. If I'm diligent, I can have that in like 3 months of absolutely garbage sleep, which isn't very acceptable. My girlfriend moves to the couch every night around 2 AM, it's a real shitshow. I need financing, but I have concerns about the credit check. My credit score is like 638, which isn't the worst. However, I have a chapter 7 bankruptcy from three years ago due to some poor life decisions during a disastrous relationship, so I have a hard time like getting an apartment. Do I have a hope of getting financing if I walk into a mattress store with like $500 cash as a down payment? I pay my bills and I make like $48k. Basically I'm trying to figure out if I should pursue other avenues, since I have like 2 weeks until my $500 is scraped together.
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# ? Jul 25, 2016 23:46 |
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deadly_pudding posted:So, my mattress has gone bad. Big ol' crater in the middle. My issue is that in order to go up a price category and hopefully avoid this situation for the foreseeable future, I'm looking at like a $1500 purchase. If I'm diligent, I can have that in like 3 months of absolutely garbage sleep, which isn't very acceptable. My girlfriend moves to the couch every night around 2 AM, it's a real shitshow. I need financing, but I have concerns about the credit check. Have you considered just paying that $500 to one of the Internet mattress companies and not financing anything? Casper, Leesa, Tuft&Needle, Yogabed: they're all the same deal and review favorably to Tempurpedic-type things. I've been sleeping on a Leesa for a year and love it.
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# ? Jul 26, 2016 00:14 |
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eddiewalker posted:Have you considered just paying that $500 to one of the Internet mattress companies and not financing anything? I could get one of those in a queen without financing like a month and a half from now, maybe, depending on if my car needs work to pass inspection, but I still need a box and rails. Our rails got *hosed up* during the move, so we've just been doing box spring on floor.
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# ? Jul 26, 2016 00:35 |
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eddiewalker posted:Casper, Leesa, Tuft&Needle, Yogabed: they're all the same deal and review favorably to Tempurpedic-type things. I've been sleeping on a Leesa for a year and love it. deadly_pudding posted:I could get one of those in a queen without financing like a month and a half from now, maybe, depending on if my car needs work to pass inspection, but I still need a box and rails. Our rails got *hosed up* during the move, so we've just been doing box spring on floor. Edit: also those mattress companies are always doing promos on podcasts that I listen to, so be sure to google for a current coupon. They're usually like $100 off I think. Star War Sex Parrot fucked around with this message at 00:44 on Jul 26, 2016 |
# ? Jul 26, 2016 00:41 |
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# ? May 25, 2024 07:05 |
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I think the closest IKEA to me is in Canada Thanks for the ideas, though.
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# ? Jul 26, 2016 01:00 |