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Here's a real silly question, how do you guys handle precious metals? I've been considering pawning off a wad of silver and the like because I think it might be better for me to have the cash to invest elsewhere (like in a house) than locked up in metal lumps. I never intended to hoard it, it's just sat around for a decade as I got out of jewelry making, and if I ever returned to it, I'd likely buy new sheet stock as opposed to melting down spoons and poo poo myself. Am I correct in the thought that while silver and gold are an investment, they are not the best returns compared to other investments?
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Sep 19, 2022 18:01
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| # ¿ May 10, 2024 01:23 |
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That jives with what I thought. Not a doomsday prepper btw, just got a lucky score on sterling silver teaspoons that I was "totally going to make into jewelry" along with the usual unwanted jewelry bric a brac. I've gotten given all sort of weird poo poo over the years because I made jewelry as well.
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Sep 19, 2022 18:34
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H110Hawk posted:Are the teaspoons worth more than spot as-is? You could check out like replacements.com or whatever to see if you're sitting on something worth just unloading that way. For the misc costume jewelry (I realize it's sterling but...) maybe melting it into a lump would be easier? Or just weigh it and see if you can get spot for it less some discount? I'll look but I doubt it, most people aren't doing formal dinner parties anymore so there is less of a need for silver flatware and china sets. That was true from at least 10 years ago when I was in art school and needed some sterling in a pinch to cast with and went to a pawn shop and asked to buy some scrap. I got the 1.4ozt I needed in the form of a knife handle freshly stripped from a flatware set as according to the pawnbroker nobody was buying them to use. And it wouldn't be worth my time to cut out the solder joints and strip the jewelry to melt it down. I've also got a wide range of metal purities as well. I'm fine with spot minus whatever from the extra weight of stones and poo poo. This stuff is taking up too much room in the safe and it's bugging me. Been kinda greedy as well, waiting for the per ounce price to get to $20 again.
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Sep 19, 2022 19:39
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H110Hawk posted:Which pattern are they? Haven't a clue on the pattern, some standard floral design iirc. I can post a pic after work sometime, was thinking of digging it out as is and weighing it up for the hell of it. There are spot price calculators online. I bought the 6 teaspoons for like $4 because they got missed in the sorting in the thrift store; there's no way I don't make bank on them.
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Sep 19, 2022 19:53
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I sort of assume pawn shops get unpopular patterns, a lot of stolen stuff, and stuff where kids don't know what they're sitting on from grandma. I should check out some local ones and see if I can add to our set.
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poo poo, I should look into what the terms of my life insurance policies are. They're in my possession now, but my parents opened one on me with the idea that *I* could be the one to have a loan against it if need be.
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Sep 30, 2022 15:22
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tumblr hype man posted:IRA contribution limit is $6,000 for 2022. Well this explains why I've never had to worry about hitting the max on my 401k.  At least now I can have a think on what to put in my IRAs since I've been bad about that too. Here's a noob question that I might have asked before: is it advisable to always max out an HSA if possible? I have 18k built up in the account after a few years and a 7k high deductible plan. Currently healthy and in my early 30s but I wouldn't be suprised if I get bitch slapped by cancer or heart problems around 60 given family history. Dunno if I should scale it back a little and put the extra funds into retirement or house buying funds?
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Dec 21, 2022 19:06
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KYOON GRIFFEY JR posted:
I assume 'functions like an IRA' means withdrawing it for whatever after I'm 65? Cause the interest it currently earns is negligible. And I am exceedingly lucky that my employer contributes a little bit to my HSA as well, but I think they're scaling back that contribution to offset the rise in cost of the plans next year.
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Dec 21, 2022 19:55
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KYOON GRIFFEY JR posted:oh no dude what is your HSA invested in Checking account at major bank. Edit: I don't actually know the interest rate I just assume its jack poo poo. Turbinosamente fucked around with this message at 23:52 on Dec 21, 2022 |
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Dec 21, 2022 22:53
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spwrozek posted:Generally yes you should....but.... It's in Key Bank which has this option for moving a portion of the account funds into an investment account. But you have to keep minimums in the regular HSA in order to have that investment account. Which is fine when you're healthy but how fast can you cash in the investment if you do get horribly ill? Just says you have to cash in if you need the invested money, or expect to drop below minimums. Upon reflection perhaps I over thought my situation and should just keep on keeping on, and palm slam my tax return into one of the IRAs next year to feel better.
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Dec 22, 2022 03:45
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KYOON GRIFFEY JR posted:You can cash in the investment in sub 24 hours because it’s in a mutual fund or ETF. At least with mine, the bank will automatically sell funds on either a LIFO or FIFO basis (my choice) to raise cash if I fall below minimums. It's not that hosed; the fact that it exists at all is a huge point in its favor. I'll have to make some phone calls tomorrow. Turbinosamente fucked around with this message at 06:03 on Dec 22, 2022 |
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Dec 22, 2022 05:57
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Yeah I was going to say money talks at a lot of places still, first thing that came to mind was flea markets, trade shows, and garage sales.
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Jan 23, 2023 01:24
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What is the big draw for for using programs like ynab over manually in an excel spreadsheet? Is it simply just that they do the back end math for you from the variables provided or is there more to them?
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Jan 25, 2023 14:36
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My budgeting skills are complete garbage, so I need to be looking into options other than a spreadsheet anyways, good to know these apps do provide more than an easy interface.
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Jan 25, 2023 15:31
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nitsuga posted:If you can’t split your direct deposit, some sort of scheduled transfer would get my vote. Not sure what other banks offer, but it’s easy to do with Ally. Even $50 every two weeks adds up. I'd vote for this as well, see what your bank's online app will do. I personally have my company direct deposit my paycheck to my checking account, then the scheduled transfer moves roughly half of it to my savings the next day. That way if the situation changes I can go online and click a button to stop the money transfer or change the amount. Much easier and faster than having to go up and talk to the payroll ladies at work, then wait for changes to show on my paycheck (The joys of working for a small company I guess).
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Jun 27, 2023 11:58
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I just palm slam my credit card rewards as cash into my checking account. Fairly certain key bank redid their cards some time ago to give a better reward rate and put the cashback options up front. Before you could get gift cards and physical items as rewards, but I imagine they were not as popular a redemption.
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Jul 28, 2023 03:10
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I never did the math, but there could be a possibility that apartments are cheaper than dorming, or maybe I just went to a school where there was a good student ghetto of shitball apartments around the city.
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Jan 16, 2024 19:00
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Medullah posted:Yeah I went to school in Ann Arbor, Michigan in the 90s and it was significantly cheaper to get a garbage apartment than stay in the dorms...but then, that was 30 years ago and oh god I'm old. 10 years ago for me and I just did some hazy math using numbers I think I remember. It was 5000 per semester for the dorms and I knew someone that somehow got 325 a month with utilities. 325 x 12 months is 3900, soo even if im misremembering and it was 5k for the full school year there's some savings. But they were always maze like split up old city houses and the apartment was always on the second floor up some narrow rear end stairs. Even had friends who lived in a place over a deli once. This was Buffalo, NY which has enough colleges in it to support such an ecosystem.
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Jan 16, 2024 19:17
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Well as a former baby looking to cash in 30 year EE bonds now, it was a nice gesture and hey a bonus $400ish is neat, but it's only $400ish if you know what I mean. Plus as far as I know I'll have to declare the gains on my taxes next year when I get off my rear end and cash them in. I think there's two $50 and one $100 face value on them? So unless you go ham on a bond with a huge amount for some silly reason I'd do a 529. I will say that my dad starting an account for me at a local credit union when I was a baby was much more impactful as he contributed like 4% of his paycheck into it for many years, and it amounted to like 6k by the time I was 18. It was all used toward college loans anyways but I was grateful to have it for that.
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Mar 8, 2024 21:13
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| # ¿ May 10, 2024 01:23 |
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When you put it that way, yeah it sucks, but we're stuck working with the crumbs we are given for the time being. And I agree with Kyoon I didn't know poo poo about the world/money/college loans at 18, and I was only "smart" enough to know that I should always keep some money in the bank, and to maybe not buy too much video game junk. Also somehow I knew that credit cards should always be paid in full each month, thanks for leading by example there parents!
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Mar 8, 2024 21:33
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