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Personal Capital does let you link investment accounts. In fact, they encourage it and parts of the app won’t work without it. Probably because they seem to try to sell you investment advice.
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Jun 29, 2019 19:31
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Ok I'll rephrase my question. Will either of those apps allow me to follow the Dow, NASDAQ, and S&P500? I haven't found that option in Mint outside of a separate app, and I don't have any experience with Personal Capital.
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Jun 29, 2019 19:51
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Yahoo finance dot Com, honestly
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Jun 29, 2019 20:08
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The stock (hah!) Stocks app if you have an iOS device, too. Personal Capital has the daily Dow and S&P numbers in the corner of the main page for me. You can see a historic graph, but it takes a few clicks.
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Jun 29, 2019 22:16
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Clicking the investing tab in personal capital gives you this. If you just want to see more detailed info on how something is doing on any given day you can just google "AMZN" or "S&P 500" or whatever and it's right there.
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Jun 29, 2019 22:29
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colachute posted:Ok I'll rephrase my question. Will either of those apps allow me to follow the Dow, NASDAQ, and S&P500? I haven't found that option in Mint outside of a separate app, and I don't have any experience with Personal Capital. Why would you want to do this in the context of your current overall financial position? I'm honestly asking. Maybe I'm missing something here. I know my etrade account shows this blatantly, but I miss it exactly none in Mint.
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Jun 29, 2019 23:35
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Motronic posted:Why would you want to do this in the context of your current overall financial position? Because sometimes I'm curious how some stock are doing, not because I want to invest in them. I like to have everything in one app if I can, rather than needing an app for my investment portfolio AND another app for random stocks I want to look up. Just personal preference and wanting to do this has almost nothing to do with my financial standing. I didn't realize "can I follow stocks outside of my investments in these apps?" was such a controversial question. colachute fucked around with this message at 15:03 on Jun 30, 2019 |
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Jun 30, 2019 15:01
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colachute posted:I didn't realize "can I follow stocks outside of my investments in these apps?" was such a controversial question. I wouldn't describe it as controversial, but you're in a BFC newbie thread and giving off a waft of "I like to gamble on individual stocks" with your question. So you shouldn't be surprised to get asked about it.
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Jun 30, 2019 15:30
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Motronic posted:I wouldn't describe it as controversial, but you're in a BFC newbie thread and giving off a waft of "I like to gamble on individual stocks" with your question. So you shouldn't be surprised to get asked about it. Sorry if I gave that impression. I just like to follow stocks, not trade stocks. I try to be as hands off as possible with my investments. Also, my original question explicitly stated that I want to follow stocks outside of my investments: colachute posted:I just downloaded Mint yesterday and got everything set up with my accounts. Two questions: does it allow for stock monitoring (outside of any of my portfolio information -- I just want to see what Amazon is trading at, for example)? and if I change a category of a transaction (like changing CVS from Pharmacy to Grocery) will it eventually remember to categorize it as that in the future, or am I fighting an endless battle? colachute fucked around with this message at 15:39 on Jun 30, 2019 |
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Jun 30, 2019 15:36
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What you’re looking for probably doesn’t exist in an elegant solution, but one key piece of info is what platform are you interested in? iOS, Android, windows? Also what do you mean by “track” and “follow”? Daily snapshot or historic data?
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Jun 30, 2019 15:59
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WithoutTheFezOn posted:What you’re looking for probably doesn’t exist in an elegant solution, but one key piece of info is what platform are you interested in? iOS, Android, windows? Also what do you mean by “track” and “follow”? Daily snapshot or historic data? iOS. I basically want the old Stocks app that iOS had before it was updated and they added Business News headlines to it, where it would show me what it's at today as well as how it's performed over 3m, 6m, etc. Just basic stuff. This is all becoming more trouble than it is worth and is taking half a page to figure out. I just wanted to know if this simple task could be done in Mint or Personal Finance. I'm just gonna go with "no" since it's so complicated. Thanks anyway.
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Jun 30, 2019 16:43
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Look at the iOS Stocks widget. It may do a lot of what you want. Only thing I can think of for PCap is you can tell it you own one share of whatever stock/ETF you want to track. But that’ll throw off your net worth slightly.
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Jun 30, 2019 19:44
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do people generally recommend sticking with one budgeting app or would using 2 be better i'm just starting to try and take charge of my dumb bullshit financial choices. i'm looking at making actual career moves soon so I want to stop living like an irresponsible mid-20-something and move more towards actually preparing for my future my debt isn't awful i think? ~13k remaining car loan(bought it last year), about 4k left of student loan, $350 credit card debt not really terribly sure where to start? it's always been like pulling teeth to talk to my parents about "how do i do x" with money so i'm waaaay behind the 8 ball probably e: should mention i've gotten started with ynab and also have mint on my phone
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Jun 30, 2019 22:17
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You're doing a lot better than most. I'd say start with mint.
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Jun 30, 2019 22:31
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mostly the reason it's not worse is i've never let myself have anything bigger than a secured card with a 500 dollar limit with my credit union i am probably gonna talk to the bank tomorrow/tuesday about taking it unsecured after i pay it off, though. which should be next month. i'm possibly moving states for a move up with my job (it's almost definite but they haven't distributed the commitment letters to sign yet) to become an actual licensed insurance adjuster instead of just an unlicensed claims agent, which would come with a 10k paybump as well. i'm just trying to get myself in proper order so that when that pay bump + move happens i won't immediately slip and fall financially as spending tends to rise to income idk. i've never really done the whole budget thing before and have really just eyeballed my bank balances in my head (which has worked ok but i'm aware is very irresponsible) and want to actually like, save and have a nest egg and safety net and all that what makes mint the better starting place vs. ynab, out of curiosity?
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Jun 30, 2019 23:26
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also sorry for all the rambling in that last post - i've just never really taken an active role in handling my finances vs. just kind of letting stuff happen so i'm kind of nervous. which imo is kind of pathetic at age 26, but. that's how it be i guess
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Jun 30, 2019 23:30
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https://www.reddit.com/r/personalfinance/wiki/commontopics#wiki_step_0.3A_budget_and_reduce_expenses.2C_set_realistic_goals This is step 0 of the flowchart.
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Jul 1, 2019 00:02
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Is there a thread for freelance / small business people? Last fall I found myself unexpectedly going full time freelance and trying to build a business. I'd like to get a better handle on the money side of things as it's been a "let's just see what happens" kind of approach till now. My wife and I are in our mid 30's and want kids, and as part of that we're trying to get our budget together. My wife has a normal job so budgeting her money should be pretty straightforward at least, but it seems like making the money I draw from the business account more planned will make budgeting my part of the income a lot easier. Also just want to learn about how other people deal with small businesses and if there's things I'm missing (which, I'm sure there are.)
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Jul 2, 2019 01:51
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Not sure where to put this, but I was recently contacted by a recruiter about a contract position for a large university. I'm having trouble figuring out what a reasonable hourly rate would be going from a FTE in a government body to being a contractor. I've heard dividing your salary by 1000 is a good way to figure that out. Currently I make $90k, with benefits, with flex time, with 4 weeks paid vacation, DB pension, and a bunch of smaller benefits (free transit pass, training opportunities, etc.). The rate quoted to me is $70/hour. I think I should be asking for 90$/hour minimum. I have a free consultation set up with a local accountant to talk about incorporating. Also I hate my boss so I am definitely interested in leaving. But my napkin math indicates that taking this new position would be a bad idea. Thoughts? (Also i'm in Canada).
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Jul 9, 2019 02:01
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Skizzzer posted:Not sure where to put this, but I was recently contacted by a recruiter about a contract position for a large university. I'm having trouble figuring out what a reasonable hourly rate would be going from a FTE in a government body to being a contractor. I've heard dividing your salary by 1000 is a good way to figure that out. Dude you're going to want that to be $100/minimum to even remotely compete with PTO alone. With pension I'd consider doubling that $70/hr figure. Those benefits are very very hard to beat and 70/hr isn't gonna do it by a country mile.
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Jul 9, 2019 02:31
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Cat Army 
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90k salary with plush bennies and pension is 150+/hr contract in my mind, just to be break-even. Remember that 1099 work is no benefits, no PTO/sick, no sponsored retirement plans, you will bear the full cost of payroll taxes, and you will have zero job stability or severance. It’s an entirely different ballgame than FTE. It can work but the rate has to be very high. Guinness fucked around with this message at 02:40 on Jul 9, 2019 |
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Jul 9, 2019 02:35
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but i hate my boss  okay fine i know 'golden handcuffs' is a thing but i didn't think the DB pension would be that valuable. thanks for the reality check. i think part of the attraction was just leaving my current job. i'll tell the recruiter i want double what he's saying and i'm pretty sure he'll gently caress off but whatever. $140/hour seems crazy though. i don't think i'll get those rates any time soon with my level of experience. also, can i ask, how are you guys getting to $140-150?
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Jul 9, 2019 04:21
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The rule of thumb I've heard is to take your salary and double it to get roughly the cost to your employer of employing you -- counting the fees they pay, the benefits they provide, etc. I'm sure that rule of thumb gets pretty inaccurate, but it hammers home the point that employers have to spend a lot of money on their employees beyond just what those employees get paid. At $140/hour, with four weeks' vacation per year, you'd have a yearly revenue of $270k, which the rule of thumb reduces to an equivalent salary of $135k. Now keep in mind that as a company of one employee you'll be responsible for handling all the paperwork yourself...fortunately it's easier and easier to contract that out these days, but it's still a cost to you. And you can't guarantee that you'll be fully employed for the entire year; job security is not a thing for contractors. You want some buffer to not be in feast-or-famine mode.
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Jul 9, 2019 04:46
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Just as a point of reference, in my industry a low level engineer will typically be billed out around $110/hour. This is someone making like $70k/year salary or less. Senior engineers easily go for $150-$175/hour. edit: these are the rates companies I've worked for would bill for hourly services. Not a direct translation to contract rates, but pretty drat close. $70/hour is like technician rates. If you REALLY want to run the numbers, you'll have to figure out the dollar value of every benefit your employer is giving you. I saw Canada, so taxes are different, but don't forget that as a contractor you are 100% responsible for equipment and software (at least in the US).
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Jul 9, 2019 16:48
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Skizzzer posted:$140/hour seems crazy though. i don't think i'll get those rates any time soon with my level of experience. also, can i ask, how are you guys getting to $140-150? It sounds crazy until you really account for all the extra expenses that your employer picks up when you are an FTE, especially in a cushy place. Typically the true cost to an employer is about double any given person’s salary. As a contractor all those expenses will be shifted to you. I used to work for a consulting/contract shop, and our consultants were salaried/benefitted but our work was billed hourly to customers. The bill rate was typically 2-3x the “hourly” rate of an employee (roughly salary / 2080). The company obviously takes a cut of that rate, but in this scenario it sounds like you would be a sole contractor so you’d effectively be taking on the roles of both (accounting, taxes, benefits, whatever else). Just off the top of my head, expenses that your employer likely covers: - half of payroll taxes - paid vacation and sick time - company holidays - medical/dental/vision - retirement/pension plans, any matches - any sort of equity-related grant/purchase plan - short/long term disability, life insurance, FMLA - unemployment insurance - commuter benefits - staffing overhead for bookkeeping, legal, contracts, management, etc - equipment, software, training Probably more that I’m forgetting. A lot of these things don’t feel like money in your pocket, especially if you don’t use them, but they need to be at least accounted for and acknowledged when comparing FTE and contract. Contracting can be a totally legit way to get paid big bucks, but the rates need to be really high to fully account for what you’re giving up or taking on yourself. Hence the 2-3x rule of thumb. I threw out 150/hr because that’s about 3x your rough salary-hourly rate plus some extra because you’ve got what seem to be very generous benefits, retirement, and time off. So all that, plus losing the stability, plus probably wanting an effective raise from moving jobs... and yeah. Guinness fucked around with this message at 18:12 on Jul 9, 2019 |
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Jul 9, 2019 18:03
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Skizzzer posted:Not sure where to put this, but I was recently contacted by a recruiter about a contract position for a large university. I'm having trouble figuring out what a reasonable hourly rate would be going from a FTE in a government body to being a contractor. I've heard dividing your salary by 1000 is a good way to figure that out. In addition to what everyone else is saying: public pension is loving huuuuuuuuuuuuuuuuuge. Like, typically government employees get paid less, but get more in benefits, so you should probably be looking at asking for even more than a private-sector person would. It sounds like the recruiter is lowballing you hard.
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Jul 9, 2019 18:29
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My mother recently came into a windfall of $200K (after taxes). Roughly half of that will be shared with a relative in yearly gifts up to the tax-free max ($15K). She's retirement age, but prior to this had little to nothing saved for retirement, but also has almost zero living expenses. However within the next few years might move out on her own and thus need access to some of the cash. She's putting the initial lump sum in an online savings account, but is unsure about next steps. My suggestion to her would be to invest the money the same way I'm investing my own retirement savings: a mix of stocks/bonds/funds through Vanguard and Wealthfront; obviously weighted way in the opposite direction for her risk profile. I'm thinking a breakdown like this: - 30% in online savings for emergency/immediate use - 10% in CD ladders or similar low-risk investment for medium-term access to cash - 50% low-risk robo-advisor like Wealthfront and / or mutual fund to remain untouched for the next 5-10 years - 10% P2P/individual stocks to try to balance portfolio with higher returns Does that reasonable?
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Jul 10, 2019 16:13
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Not to be a jerk, but if she’s that old and has no savings, it’s probably because she’s bad about not spending. I’d seriously consider looking into an annuity that just pays out a fixed amount each year and ditch the optimal, fractional asset splitting based on risk or whatever.
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Jul 10, 2019 16:19
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The highest risk fund she should be putting her money in is an S&P500 tracker. If she needs 30% cash/on hand that's great, but the other 70% should be going in a balanced government bonds / whole market tracker fund depending on her risk profile (in this case, once she needs to start drawing on the 70% it should be heavily bonds rather than equities.) The $20k you're thinking of pushing into single stocks or P2P is begging to be lost, especially as the 500 as a whole has returned 18% YTD
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Jul 10, 2019 16:29
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sim posted:My mother recently came into a windfall of $200K (after taxes). Roughly half of that will be shared with a relative in yearly gifts up to the tax-free max ($15K). She's retirement age, but prior to this had little to nothing saved for retirement, but also has almost zero living expenses. However within the next few years might move out on her own and thus need access to some of the cash. She's putting the initial lump sum in an online savings account, but is unsure about next steps. My suggestion to her would be to invest the money the same way I'm investing my own retirement savings: a mix of stocks/bonds/funds through Vanguard and Wealthfront; obviously weighted way in the opposite direction for her risk profile. - 30% for an e-fund is probably way too big. Figure out what her monthly expenses are going to be and put together 12 months of that. - 10% in CD ladder is different from the e-fund stuff how exactly? That rates on CDs are not significantly higher. - 50% into "mutual fund" doesn't tell us anything about the cost or type of asset you're planning on using, but something like a bond fund might be useful, depending on how everything else works out. - 10% P2P/individual stocks is not in any way reasonable and should be completely removed from your planning. DNK posted:Not to be a jerk, but if she’s that old and has no savings, it’s probably because she’s bad about not spending.
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Jul 10, 2019 16:30
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It's a mixed bag. Yes she's bad about spending/saving/planning, but she also dealt with some extreme life events that wiped out any savings. She's also been in a weird living arrangement for the last 10 years, that may continue indefinitely, where she doesn't take a salary, but gets free room and board and most other living expenses covered. You may be right about the annuity though. I'll look into that some more. EDIT: thanks for the honest feedback.
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Jul 10, 2019 16:37
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So she lives in a commune, and is planning to give half the money to the cult leader?
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Jul 10, 2019 16:39
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If you consider multi-level marketing a cult (which I do), then yes. But she's very protective of this money since she realizes it is her only savings. But the whole cult living situation does make it really hard to calculate expenses. They are essentially zero currently, but could be a lot more in the near future... maybe. Which is why we've been hesitant to dump it all in an annuity until she figures that out.
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Jul 10, 2019 16:46
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if she's in to MLM it's probably hopless mate, doesn't matter if you put that money in to index funds or HYSA or gold
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Jul 10, 2019 16:50
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sim posted:If you consider multi-level marketing a cult (which I do), then yes. But she's very protective of this money since she realizes it is her only savings. But the whole cult living situation does make it really hard to calculate expenses. They are essentially zero currently, but could be a lot more in the near future... maybe. Which is why we've been hesitant to dump it all in an annuity until she figures that out. I think you should post more details about the MLM and what the living situation is.
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Jul 10, 2019 17:36
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What's the gooncensus on Employee Stock Purchase Plans? It sounds like a way to get employees to fail to diversify, especially if the company stock is stable. However, it also sounds like free money based on the discount.
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Jul 11, 2019 11:48
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Magnetic North posted:What's the gooncensus on Employee Stock Purchase Plans? It sounds like a way to get employees to fail to diversify, especially if the company stock is stable. However, it also sounds like free money based on the discount. The strategy I've heard is hold as little as possible, and liquidate as soon as possible. That's assuming you get a significant discount. Having both your income and retirement associated with a single source of failure is incredibly high risk.
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Jul 11, 2019 12:06
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Magnetic North posted:What's the gooncensus on Employee Stock Purchase Plans? It sounds like a way to get employees to fail to diversify, especially if the company stock is stable. However, it also sounds like free money based on the discount. If you can afford to reduce your paycheck in the short run, it is best to contribute the max allowed and then sell as soon as the stock is given to you. My wife's plan allows you to put aside 10% of your salary each paycheck, which is then used to purchase company stock every January and July for 15% off of the lowest price during the preceding 6 month period. If you sell as soon as the purchase takes place it's a risk-free return.
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Jul 11, 2019 13:32
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Magnetic North posted:What's the gooncensus on Employee Stock Purchase Plans? It sounds like a way to get employees to fail to diversify, especially if the company stock is stable. However, it also sounds like free money based on the discount. There is little risk if your plan allows and you follow through with selling the day you get your grant. It's free money (most plans are 15% discount of the share price at the opening of the period or the closing of the period, whichever is lower).
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Jul 11, 2019 15:10
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Aren't there tax considerations though?
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Jul 11, 2019 23:11
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