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H110Hawk posted:Check your free report annually to ensure everything is accurate. I really need to be better about this . . . I've been slowly un-loving my wife's credit and I'm overdue for a check-in on both hers and mine. Unfortunately throwing "free credit report" into Google somehow gives me a bunch of stuff that LOOKS like a scam. But, these days, I feel like most government websites look like low-effort scam websites so I really don't know anymore  Where should I be checking this? Edit: terrible page snipe with such a rookie question 
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Dec 17, 2022 20:03
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AnnualCreditReport.com I doubt it’s a scam if the FTC says to use it. https://consumer.ftc.gov/articles/free-credit-reports
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Dec 17, 2022 20:11
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I would just make a free account with the three big bureaus directly because you can get it from there and god forbid if you need a security freeze it makes it a lot easier in a situation where you're going to be stressed the gently caress out.
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Dec 17, 2022 20:14
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BIG FLUFFY DOG posted:I would just make a free account with the three big bureaus directly because you can get it from there and god forbid if you need a security freeze it makes it a lot easier in a situation where you're going to be stressed the gently caress out.
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Dec 17, 2022 20:28
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Cugel the Clever posted:Hadn't folks might as well just freeze their credit whenever they don't have active need to open a new line with a creditor? Lot easier than waiting until you've been alerted that something's gone wrong. Don't see it in the OP, but I thought that was best practice. That's what I've been doing since the last big equifax breach. It's really not all that big of a deal - lenders seem to have clued in on this and aren't surprised when I've asked "what bureau are you going to pull from and when because I'll have to unfreeze my credit."
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Dec 17, 2022 20:35
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Annual credit report .com is legit and you should check it once a year (poo poo I should check ours). It’s why all the stuff from years ago from the fee credit report .com commercials was so infuriating , you can get your reports free , it’s just at a specific website. Also, you can always have your credit frozen and in frozen, you do have to go ti each of the 3 credit bureaus websites. It’s an extremely good idea to freeze your credit report, it’s not hard to unfreeze for a few days. I work in an industry where people’s info is stolen every day, freeze your credit report people.
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Dec 17, 2022 21:15
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I did it as soon as I got an email from work saying "If you're still working for us and we're still issuing paychecks, why did you apply for unemployment benefits?"
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Dec 17, 2022 21:25
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Two of the credit agencies are requiring me to send them a bunch of stuff in order to get my free credit report; does anyone know how to get them to send it to me without doing that? They want me to make a copy of my passport, drivers license, social security card... I think there were one or two other things they wanted, as well... And stick that in a goddamn envelope and send it to them via USPS. Which basically sounds to me like "create a 'steal my identity' kit with an address for a credit reporting agency on it, then pray to all the gods that nothing less-than-ideal happens to it."
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Dec 17, 2022 22:07
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Yeah I've never been asked for that... Are you going through Annualcreditreport.com?
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Dec 17, 2022 22:33
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Ham Equity posted:Two of the credit agencies are requiring me to send them a bunch of stuff in order to get my free credit report; does anyone know how to get them to send it to me without doing that? Man, that sucks and I’m sorry. I don’t know a way around it.
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Dec 17, 2022 22:50
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Ham Equity posted:Two of the credit agencies are requiring me to send them a bunch of stuff in order to get my free credit report; does anyone know how to get them to send it to me without doing that? Medullah posted:Yeah I've never been asked for that... Are you going through Annualcreditreport.com? Yeah Medullah said. I use annualcreditreport.com and have never been asked to send anything in. There are some verification questions (address/previous address, the amount of current mortgage payments, stuff like that) but never asking for passports or anything.
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Dec 18, 2022 00:22
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I think if you fail the questions (stuff like remembering previous addresses), that's when they make you prove your identity with documents
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Dec 18, 2022 00:28
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i like nice words
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Anne Whateley posted:I think if you fail the questions (stuff like remembering previous addresses), that's when they make you prove your identity with documents Oh yeah I vaguely remember a few years of skipping my report because I kept missing a question about a previous credit union loan and the CU changed names so I said "none of the above". It directed me to call them and welp, who calls these days
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Dec 18, 2022 00:36
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When I was fresh out of college all those years back I got a state job. I was given a choice of two pensions for a state agency and I picked the (objectively?) worse option. As long as I’m in this state doing public sector things, that will be my retirement plan. I can never change it. And that makes me unhappy.
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Dec 18, 2022 01:04
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Ham Equity posted:Two of the credit agencies are requiring me to send them a bunch of stuff in order to get my free credit report; does anyone know how to get them to send it to me without doing that? I haven't used that site in ages since my CC has free credit scores/reports as part of its fringe benefits, but TransUnion pulled that poo poo on me. I just skipped getting the free report from them and got the other two, because it really didn't feel worth the effort to mail them all that stuff.
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Dec 18, 2022 01:20
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TransUnion tried to hide its legally required free account option from me as well and trick me into getting a $20 month subscription. I had to hunt to get the free account. Not a great company imo.
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Dec 18, 2022 01:25
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BIG FLUFFY DOG posted:TransUnion tried to hide its legally required free account option from me as well and trick me into getting a $20 month subscription. I had to hunt to get the free account. Not a great company imo. They're a credit reporting agency, they only exist to punish poor people. Why would they be a great company?
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Dec 18, 2022 18:33
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Sundae posted:I haven't used that site in ages since my CC has free credit scores/reports as part of its fringe benefits, but TransUnion pulled that poo poo on me. I just skipped getting the free report from them and got the other two, because it really didn't feel worth the effort to mail them all that stuff. Yeah, TransUnion has been pulling it on me for a few years, but now one of the others is doing it, too. I didn't really mind skipping one out of three, but two out of three seems a bit much.
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Dec 18, 2022 20:56
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I have a credit score question that I haven't been able to find a clear answer on. I have two loans, one that I'm the only signer on for $35k at 10.5%, and one that my wife co-signed for $35k at 13.5% I'm planning to pay off one loan completely this year, and I want to do so in the way that will most help my wife's credit score. Ignoring the difference in interest rate for now, would it be better for my wife's credit score if that loan was paid off quickly, or if it was kept open for longer? Should I pay off the loan I co-signed first, or second? Or, will the difference be too small/depend on too many factors, and I should just pay off the higher interest loan first?
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Dec 19, 2022 16:27
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Tibalt posted:I'm planning to pay off one loan completely this year, and I want to do so in the way that will most help my wife's credit score. Ignoring the difference in interest rate for now, would it be better for my wife's credit score if that loan was paid off quickly, or if it was kept open for longer? Should I pay off the loan I co-signed first, or second? There is no telling without a full accounting of your wife's credit history. There are plenty of credit simulators. I believe chase or amex has one if you use one of their cards. I would suggest finding one and trying both scenarios.
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Dec 19, 2022 16:41
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Shooting blind - pay off your wife's. On time and reduced dti is going to be key.
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Dec 19, 2022 16:47
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Tibalt posted:I have a credit score question that I haven't been able to find a clear answer on. Honestly, don’t worry about min / maxing your credit score. Or hers. If you pay off debt , it will help her credit for sure. So any debt that you can pay off, pay it off right away.
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Dec 20, 2022 12:43
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I appreciate the answers and looked up the credit simulators that Motronic mentioned, but didn't see any that were free without getting another card. Thanks everyone
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Dec 20, 2022 14:40
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Hello, I've read the OP and a few other threads and I want to confirm where I'm at. I was put off by some struggles my parents had during the financial crisis from more complex investments and I've just put everything in a checking account. My parents are high income but pretty terrible with money, but they're in a place where they're insisting on giving me ~20k that they've owed me for a bit now and combined with my own savings (~10k) I need to do something more than keep it all in a checking account. I'm in a good place and not struggling at all, I just know I can be more efficient with my money. I'm thirty years old and have a steady, well-paying job (106k) with the federal government, one I may leave for an even higher paying job in a few years once I finish graduate school.
Some of these have clear answers, but I want to confirm my understanding. Morrow fucked around with this message at 18:16 on Dec 20, 2022 |
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Dec 20, 2022 18:06
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Ham Equity posted:Yeah, TransUnion has been pulling it on me for a few years, but now one of the others is doing it, too. I didn't really mind skipping one out of three, but two out of three seems a bit much. I was on a schedule of grabbing one of them every four months, but starting having one of them say they couldn't complete it online and I had to mail in the form (the form was just questions I already answered online, no new documentation). Then a second one started doing that to meet too and it just seemed like too much hassle, especially since I have credit scores from my CC. I should probably try to get back on a schedule though.
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Dec 20, 2022 19:24
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Morrow posted:Hello, TSP (federal employee 401k equivalent) is a good retirement vehicle with a competitive ER (currently ~0.04%). Without commenting on your other ideas, I don't think you can go wrong putting as much as possible in there--up to the max if you're able. Here is an article listing out possible outcomes of your federal pension when you quit/retire based upon years of service: https://www.govexec.com/pay-benefits/2020/05/what-happens-my-retirement-if-i-resign/165574/ Edit: assuming you have an adequate emergency fund first, though. Keep it in a high yield savings account like Ally or others. I just realized this was in the newbies thread. You might find the OP and content of the long term investing thread useful for your questions: https://forums.somethingawful.com/showthread.php?threadid=2892928 incogneato fucked around with this message at 22:46 on Dec 20, 2022 |
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Dec 20, 2022 22:38
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Quote isn't edit. God drat.
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Dec 20, 2022 22:45
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Polar bears hit on two dimensions of the "if it flies, floats, or fucks, rent instead of buying" test, so I recommend renting rather than buying the pet polar bear.
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Dec 21, 2022 00:07
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I'm on a delayed flight so you get to deal with itemized takes. Morrow posted:I should keep a few thousand in a checking account and move the rest into some longer-term vehicle, like a money market account? Yes, except you should probably figure out what to do with that money. Money market accounts have some specific uses but are not all that helpful. Money should be guided by goals. I see your goals appear to be "save for retirement" and "go on some vacations" so I suggest you use some of your extra money to fund a Roth IRA. Morrow posted:Should I have dedicated savings/money market accounts for different large purchases I'm working towards (car/house/hair transplant/pet polar bear) or is that just an organizational technique that has no bearing on the math? I don't think this is a super useful organizational technique, but if you have different time windows on these things you may be better served by different strategies. Assuming similar time horizons just dump it all in to HYSA for now as baby's first step. Morrow posted:I'm currently putting 7% into the Federal 401k equivalent, matching only goes up to 5% but I've ticked it up a little as I got promotions. Should I do more, or use another vehicle? There is a separate pension that I'm not sure I'm guaranteed since I plan to ditch the federal government once I finish graduate school. Morrow posted:Is it worth considering some investment property housing even if I'm not looking to actually live somewhere permanently? I'm very happy with my current renting situation that's accessible to school and work. I understand some first-time home buyer stuff require you to live there, even if you are also renting out part of it. Morrow posted:I put everything on a debit card. I have a credit card for emergencies through the same bank (citibank) but I think the only time I used it this year was for gas when I left my debit at home. I should start going through credit cards for the rewards; should I just use the current bank or hunt for a new one? Morrow posted:Long-run I want to get to the point where I have nice retirement savings but can support a couple thousand in nice vacations every year. I can probably manage this just through wages, but investment would probably help. Investing for vacations doesn't really make sense to me - this is something you should budget from income imo. Morrow posted:I keep my finances separate from my partner and we also live separately. Ideally long-run managing a family with them, but I have no numbers on that. Their potential income is comparable to me (we're in the same graduate program).
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Dec 21, 2022 01:52
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Morrow posted:Hello, General input : def always do what will encourage your best financial behavior too. You sound like someone who will follow that. But it’s good to mention in general. Example: years ago I was trying to min / max credit card rewards. Nothing crazy, but I would have my grocery card, card for this, card for that. Thankfully I didn’t go too crazy. End result: I got like , 2% more back but def spent more across the cards. So I mostly use just one card now that gets a flat 2% cash back , and that works for me tracking wise. FYI my main card is the Citi double cash card, which is one I obviously do recommend , just flat 2% back no big math to really figure out. Some people will over spend with a credit card versus debit card. So reminder as well: you not NEED to get a rewards credit card. If it causes you to over spend (or worse keep a balance where you are charged interest) then it’s not worth it. Again, it doesn’t sound like you would carry a balance, but very good to mention up front. Otherwise: in general you basically should have 3 base accounts: 1 checking account: use this to pay your bills. Keep whatever amount you feel comfortable. I keep about $500 myself, and bump it if I have a big expense or something. I have my checks auto deposited here and then transfer to savings 1 High Yield savings account: this is where I keep the majority of my emergency savings. The rule is keep xx months of income as “liquid” aka easily accessible. You can take money from this account at any time without penalty. It depends on what you want, but 6-12 months expenses is the general rule. I keep about $15k myself. *HYSA savings are up to 3-3.3% savings rate, so good thing of how rates have changed is you’ll at least get a bit back for now. Final category: retirement accounts: -your 401k with match is most important , keep doing that -next would be to look at a personal Roth 401k. Vanguard is a fav and what I use, Fidelity is also fine. You can contribute up to $6k to it a year. This is a *not liquid* fund, sure you can technically withdraw what you put in, but the goal here is to leave it for 30+ years or whatever so it grows. To emphasize: having vacation goals, goals for savings, goals for upcoming bills, etc is all good. Anything that is being earmarked for the next 1-5 years should basically be in a Savings account. Long term retirement is totally separate.
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Dec 21, 2022 13:46
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Please stop posting about "personal 401(k)s" as they do not exist. I believe you mean an IRA. The contribution limit for an IRA is actually $6,500 now.
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Dec 21, 2022 14:23
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KYOON GRIFFEY JR posted:Please stop posting about "personal 401(k)s" as they do not exist. This made me remember that I got a raise and bonus this year, and I had my check set up to take out exactly $6,500 based on percentages...I just looked and it's taken out $8,500. What do I need to do to prepare for this? Other than lowering my percentage for the future.
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Dec 21, 2022 14:48
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Call the broker where you have your IRA. Get this fixed ASAP. You’ll have to withdraw excess contributions and I believe pay taxes on gains that those excess contributions earned, but your broker will know what to do. This happens sometimes. If you have anything at all set up to auto-contribute without stop rules (401(k), IRA, taxable brokerage buy, HSA etc) make sure you check that poo poo if you ever get a raise! Seems to be coming up in here a lot recently, which is technically a good sign as it means goons are getting that bread. Still a pain, though.
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Dec 21, 2022 14:54
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KYOON GRIFFEY JR posted:Call the broker where you have your IRA. Get this fixed ASAP. You’ll have to withdraw excess contributions and I believe pay taxes on gains that those excess contributions earned, but your broker will know what to do. This happens sometimes. Okay I think I might have just been confused and am getting the run around from my benefits people - I have a standard 401k and a Roth 401k. Is the Roth 401k different than a Roth IRA? Edit - Yeah, I'm dumb. Whew. Medullah fucked around with this message at 15:27 on Dec 21, 2022 |
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Dec 21, 2022 15:24
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Medullah posted:Okay I think I might have just been confused and am getting the run around from my benefits people - I have a standard 401k and a Roth 401k. Is the Roth 401k different than a Roth IRA? Yes. Think of it this way: an IRA and a 401k are different kinds of independent buckets you can put money in. You are limited to ~6k in contributions to your IRA and ~18k in your 401k. An IRA is provided by yourself (through a broker) while a 401k is provided by your job. Then there are two types of IRAs and 401Ks: traditional and Roth. The limits to what you can contribute to each bucket is still independent of one another, but still capped by which bucket it is. You can have all 4 combinations (traditional/Roth IRA/401k), but you are still limited to 6k contributions to ALL of your IRAs and 18k to ALL of your 401ks, regardless if they are Roth or traditional. Please note the limits to contributions update in 2023.
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Dec 21, 2022 15:31
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Fezziwig posted:Yes. I've been pretty aggressive in contributing to my 401k over the last 10 years (generally contributing between 12-15%) due to some bad debt management that caused me to cash out my previous employers 401k to pay off a terrifying amount of credit card debt. Would I be better off moving some of that to a Roth now that I'm in a good place with regular 401k in 2023?
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Dec 21, 2022 15:34
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Fezziwig posted:Please note the limits to contributions update in 2023. Yeah, isn't the IRA cap still $6000 for this year?
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Dec 21, 2022 15:38
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There's been a lot of discussion regarding Roth vs Traditional contributions in the LTIR thread. TL;DR you should probably be using both methods in some way or another. Most people don't have access to a Roth 401(k) so then the default is a trad 401(k) and a Roth IRA. If you are a high earner I don't see a lot of utility to contributing to a Roth 401(k), as your current 401(k) contributions reduce your taxable income at your highest marginal bracket.
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Dec 21, 2022 16:27
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How do people generally assess 401k plans with lovely or punitive vesting schedules? I've basically been treating them as having zero match since I don't expect to be around for 6 years or whatever bullshit.
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Dec 21, 2022 17:53
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Unsinkabear posted:Yeah, isn't the IRA cap still $6000 for this year? IRA contribution limit is $6,000 for 2022. IRA contribution limit is $6,500 for 2023. 401k contribution limit is $20,500 for 2022. 401k contribution limit is $22,500 for 2023. There are also additional catch up limits if you’re old. You can also access additional 401k space via the mega back door Roth. But the above are accurate for most people.
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Dec 21, 2022 18:06
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