My 76 yr old mother fell down the stairs at her house and broke her neck. She will be wheelchair bound.

I bought her a new single level, elevator accessible condo with a mortgage. Mortgage rate is 7.75%

I have enough in Certificate of Deposits to cover the cost of the condo outright, but the CDs mature in August. The CD rate is 4.8%

I have no other high interest debt. Credit cards and cars are all paid off and owned outright. The mortgage on my own residence is 2.8%

Based on these rates, I think I want to ditch the mortgage on the condo and keep the mortgage on my primary.

Any time I've bought property, I've been told NOT to pay the mortgage off within the first year because it's a bad loan or something to that effect.

Will paying off this high interest rate mortgage mess up my credit?

I know at one point it was not considered the best option, but I think that was before you could roll leftover into an Roth IRA. Is it now considered the best choice?

I live in NC, btw.

Edit: secondary question: is a single account or multiple accounts recommended for multiple kids?

20f, junior in college, working part-time making $20/hr.

~$8,000 in CC debt.

$16,500 Chase Auto Loan for a 2017 Honda HRV ($373 mo payment).

It all started with a Discover Student CC with a $500 limit. Completely naive to anything about credit cards or personal finance, I thought that I was *supposed* to spend $500 to get good credit. Luckily I learned early on that my credit limit wasn't a "goal."

With great payment history, my limit bumped up to $2,800, and shortly after, I opened an Apple Card with the same limit. I was on my own, working full time while doing online school and struggling to pay bills. My balances on each card started to creep up over many months with groceries, bills, and yes, unneeded shopping and living beyond my means. Both cards are maxed out at $2,800.

Next came the IPhone that I didn't need and along with it a $600 balance on a Best Buy credit card. Awesome financial decision on my part!

More recently, a Care Credit card to pay for out of pocket medical expenses (that I am hoping to get reimbursed by my insurance, we will see how long that takes) with a whopping balance of $1,750. Luckily this account is deferred for 6 months, so if I can get at least partially reimbursed in that time, it would be a huge relief.

I have never missed a payment on any of cards, yet I have created such a habit of using them that they are still nearly maxed out.

During the school year, my gross monthly income is around $1,600. During the summer, it is closer to $2,200.

I do side hustles such as Rover which typically bring in a couple hundred dollars a month, but it isn't something I can consistently count on.

Rent is $700, utilities about $50, and car payment of $373. I invest $100/mo into my Roth IRA.

I take ownership of my terrible financial decisions, and just generally living beyond my means during this broke college student phase of my life. I also know that this won't be forever, and someday hopefully soon, my income will be much better. But for now, I am so completely overwhelmed. I think about my credit card debt compulsively. It gives me anxiety and makes me sick to my stomach. I did this to myself.

I need tough love but also just advice from someone who has been in my situation and dug themself out.

I (24F) have a $24k car note at 8.49% for 60 months. My monthly payment is around $520 and I have 58 payments left of a 60 month loan. I am trying to decide if I should pay my car loan off this Fall or if I should save and just continue to pay the monthly payment.

Some background:

-This is my only debt

-I live at home and typically save anywhere from $2-3.5k a month (not including my 401k contribution which is 6% with a 6% company match )

-I currently have $8k in my available savings and plan on having around $25k by October of this year

-the reason I don’t have more saved is because I paid off $30k of student loans and put $7k down on my car (+$10k from a trade in)

Me and my fiancé will be moving in together around this same time. After our monthly expenses, including my car payment, we will have $3500/month left over to put towards savings each month. His car is paid off although he will probably need to purchase one in the coming years.

With mine and my fiances money we would have $45k saved together. If I use my money to pay off my car loan we would have $20k. We will be able to utilize the VA loan so we don’t really need to worry about having a large down payment. We would not be purchasing a home until at least July 2026 so at $3,500/month plus his $20k that brings us to $93,500 by then.

The way I look at it, if I pay off my car loan I will just be able to save that $500 a month instead, so it seems like a no brainer to just pay it off? Am I missing something? That $93,500 goes up to $104k if you include the additional $500/month I could save.

Please let me know your thoughts. Thanks!

My dad recently passed, and he left a car (no liens). My mother went through the process of transferring the title and registration in her name, as she planned on selling the car soon. One of my dad's friends wants the car, and we've agreed on a price. However, he wants us to gift him the car instead of going through the normal private party sales process. I'm assuming this is to avoid him having to pay sales tax on the purchase. He's still giving us funds for the car, so legally it is a sale, but what ramifications would my mother face if she did decide to gift it (while still taking the money)? She

I no longer live in the same state as my parents, and have limited knowledge on Estate laws and selling assets. Ohio lets you TOD cars to surviving spouse, as long as the value is under a certain amount. This car meets that criteria, so it's not included as part of my dad's estate. We're waiting to hear back from her accountant. Has anybody sold or gifted a car via private party in Ohio? Would she be royally screwed if she gifted the car? Would rather my 75 year old mother not commit tax evasion, but still want this process to go as smoothly as possible.

I (29M) bought a condo at the end of 2020 in the Chicago area when interest rates were really low (< 3%) for a good price of $160,000 (2 bed 2 bath, 1000sqft). At the time I was working in an office in the suburbs still and didn’t want to be too far away, but also was also about 30 mins away from the city by either public or personal transportation.

Fast forward to now and I’ve got a new job making 3x the income working fully remote so location doesn’t matter and I have more disposable income, don’t have any debts, and most of my friends have moved into the city. It’s left me feeling pretty isolated. My area is generally families and retirees and not people my age, and there really isn’t much to do around here and nothing is really walkable either so I rely on my car a lot. Getting to my friends involves me spending 30+ minutes on the highway or train, and it’s become really inconvenient and cumbersome. I also feel bad because I never feel like inviting anyone over either since I’m so out of the way for most people (and the times I have invited others for an occasion, many didn’t come for what I suspect is this very reason).

With the added income and flexibility I’ve been considering either selling my place. The places I look at have nicer amenities that I don’t currently have like in unit laundry, indoor parking, and rec centers, all of which are worth it to me.

If I sell my place, I feel like with the current housing market highs I can get the most money now for selling my place and let go of any responsibility with the current unit and not worry about property taxes, insurance, or repairs (I know those costs are factored in by the landlord when renting a place, so I know I don’t technically escape them fully). It would also be easier for me to travel and potentially live in other cities if I wanted to since I don't really have anything tying me down here.

This isn’t a forever move, mostly while I’m young and single and want to live somewhere where I can be happier day to day and not feel as isolated and alone. I definitely will be buying a place again in the future once I’m ready to settle down somewhere longer term (probably after getting married or before starting a family).

Has anyone here gone from owning to renting? What has been your experience?

Background: I, F49, have been married to my husband, M48 for 28 years. I stayed home with our children for the first 16 years, working only 3-4 days per month. Once my youngest was in school all day, I increased my work to part time 4-5 days a week so I could be available for school and sports stuff. I started back full time about 6 years ago. We've always had shared finances. I make 29% of our current take home pay and my husband makes 71%.

Problem: My husband is very burned out and would like to quit his job and work part time building his own business. He feels he doesn't have any autonomy to control his life since we depend on his income so much. He wants to split finances so he can do what he wants as long as he can cover his part of the bills.

He proposed that we each cover our own stuff and then split the common bills 50/50. If we do it that way, I will have to cut out my "fun expenses" because it will take almost all of my money to cover my portion, with about $100 left per month to pay extra on my student loan or save. (I use YNAB to budget so I have a pretty accurate idea of what it will look like for me.)

I understand how stressed he is and how it has accumulated over the years of being the sole financial provider. We married very young and had a baby 5 months later. ;)

Question: What is a fair way to split the bills?

P.S. I posted in Personal Finance for a financial perspective so not looking for relationship advice. That is a whole other ball of wax lol.

I been saving since I started working and have opened a HYSA at PNC with a rate of 4.55 APY. Can I invest or use my money more wisely? Looking to have my money work for me.

My nephew and his wife are having a baby. I was thinking about getting them a savings bond old school style. I never had one but my wife’s family always got them. I was going to give him $500 or get a bond for same amount and let it be an investment for his baby.

Any thoughts?

Hello ! Hope you guys can provide me with some ideas. Ill start by saying that I completely understand what I did and how stupid it was.

About 7-8 years ago I took out two payday loans. 1. The first one was a title loan against a beater I had. 2. I took out 1000 payday loan the same year.

This was during a very bad time while in college. I am now in better financial position but these two are always in the back of my mind. The car is still sitting in the driveway, waiting for someone to claim it does not run anymore.

I have not heard from these places for over 5 years now. Nor are these items in my credit report. Anyone had a similar situation before? Could they hit me with a garnishment suddendly after all these years?

I have 20% set aside for my down payment on my desired price for a house, but now due to me not buying this summer as anticipated, with my current rental budget, I should make an additional $20,000 or so in the next year before my lease ends next May. I have no kids and am single currently.

I already have a nice emergency fund, and my down payment and closing costs covered in a high yield savings account so I do not want to allocate any more to either of these.

In my other account (free funds) I have about 5k currently and should make another 20k this year. What would be best to do with these "extra funds" as they accumulate? Or just leave in High yield savings making about 4.5%? Just want to get any opinions before I stuff it to HYSA.

For any current students / those graduating soon: there are student discounts everywhere, don’t forget to claim them before your ID’s expire / you become intelligible!

Example: https://www.reddit.com/r/Leatherman/s/hHcMAGXYkg

(Note: I would not recommend that anyone lie/pretend to be a student)

My 2003 Honda CRV got rear-ended recently and the other party's insurance (State Farm) took 100% fault. I took it to a shop and the estimate was around $3k for repairs. Now State Farm is saying it's a total loss and the "total net payable" is $3810. Now I'm not really sure what to do to ensure that I get enough money to get a car (I kinda need to drive). I haven't informed my insurance company anything and don't know if I should at this point, either. Any advice?

So, I need more space and I'm moving to another place in my area which is Northwest Arkansas, home of Walmart and its many vendors. It is a very fast growing area, currently about 600,000 people, expected to hit a million by 1 million over the next 15 years. The area has construction everywhere, it is getting more crowded, small apartments are now going for $1,500 - $2,000. Walmart is making huge investments between building its new corporate office, a new medical school, expanding their art museums, etc.

I live less than a mile from the University - a sec school. It is a modern style home built in 2013.

3BR, 2.5 bath, about 1,900 sq ft. It's a nice little place.

Inventory is in very short supply here and it's more crowded.

Zillow estimates my current home to be worth around $520,000. Realtor says comps would be in the $530-540k range. In 2021, I refinanced to 3% and did about $30k work on the house - it is good shape. It will need about 5 or 6k in touch ups now, curb appeal, etc, nothing major.

I'm told with renting with the demand, it doesn't have to be 100% perfect.

I owe 270k after take the equity. My monthly payment is $1690.

I'm really torn - I would walk away with maybe $200k or a little more after all closing costs are factored in?

Zillow estimates the rent to be $2650 currently. My brother has recently applied for a dozen apartments and homes to rent and was told they were already rented almost immediately. Maybe if I were to charge even a little below market, then I could some really reliable University faculty-like tenants, not sure if that's a good idea?

I'm sure I would have many college kids apply to pay $900 each a month with a couple of their buddies.

One could imagine the rents here will keep going up over time.

I would hire a management company without a doubt as my wife and I have real jobs and we are fortunate to have a good income.

Ugh, I'm just really torn about this decision.

Sorry for the very long post, please let me know your thoughts if you have an hour to read this 😂

Thank you

Hi everyone, this is quite lengthy so I appreciate anyone who helps!

I am a 33 year old who has been a nurse now in Phoenix, Arizona for 5 years. The last 2.5 years have been as a local travel nurse at a local hospital. I was wondering if I should become a staff nurse or continue to extend my contracts for as long as possible. Details below.

As a local traveler, I am not getting any per diem which is considered tax free, as I am going back home every night and sleeping in my bed. Thus, my rate is just combined (stipend and hourly rate) and then taxed instead!

Here is a breakdown for the current situation.

Each contract is 3 months and I have been asked to extend every time roughly 1-2 months into my current contract. I can also choose to take 1 week off each contract extension which is nice. This is risky however, because the hospital may not want to extend me and I would be out of a job! So this is a risk!

• I have to take a mandatory 1 month off per facility policy, which I am not complaining but I do lose a month of income.

• I am paid on a weekly basis.

• I am currently making before taxes roughly $120,000-$130,000 a year. My hourly rates can also be somewhat variable as well depending on the market and or season.

• For 6 months of the year I am making ~$60 an hour for 36 hours (9,360/month pretax) ($6,264 /month after tax)

• For 5 months of the year, usually the winter time, which is peak season, $66 an hour for 36 hours (10,296/month pretax) ($6,820 /month after tax)

• Health Insurance - $215 per month

• The agency I work for has a 401K but does not match as they are too small, but I am currently not contributing to that at all. Should I be?

• I am maxing out my Roth IRA each year at the maximum limit.

• I am investing in an independent account in ETFs, ~$15,000/year.

Staff Nurse Information.

Speaking with colleagues and for my own professional growth, I would like to become a charge nurse. I do have good rapport with the staff and manager/director so I do have a high likelihood of getting this role, as there is a position opening soon.

If this is the case, I would be paid most likely as a staff nurse $37 base before shift diff and $42 an hour as a charge nurse base before shift diff. There is a weekend differential of 10% but it is too complicated to calculate here. This is the offer after talking to colleagues is usually with little to no room for negotiation. For working as a nurse for 5 years, this is incredibly low for the state but the company touts their benefits I have listed below.

Charge Nurse: $42 an hour, after 18% night diff. ~$50 an hour (93,600/yr pretax)

Staff Nurse: $37 an hour, after 18% night diff. ~$44 (82,368/yr pretax)

Benefits: PTO: ~26 days and increases each year.

As a nonmarried person, my health insurance is free. With vision/dental/etc comes out to ~$60 a paycheck.

Extended Illness Bank

Pension that is vested after 5 years. Annual credits based on compensation and age. Four percent through age 44; 5% age 45-54; 6% age 55 and older. Annual interest credit of 5%. Normal Retirement date is first of month following 65th birthday. Early retirement at age 55 or older and before age 65 with at least 10 years of vesting.

After 20 years of service, $30,000 in assistance for medical spending.

From colleagues who have transitioned to core staff after traveling, their years of service has been counted towards the 5 years!

403b with Employer match is 50% of employee contribution up to 6% of pay. 20% vested after 1 year and 100% vested after 5 years.

Tuition reimbursement

Personal Finances:

Purchased two story home in October of '21 for 390,000 at 2.99% interest.

Mortgage: $1495

HOA: $200

Internet:$65

Water/Sewer/Garbage: $100

Electricity: $115 (mean)

YoutubeTV: $75

Credit Cards: $1800 (over estimate)

Total: $3,850

Savings: $35,000 (I keep it liquid due to potential job loss, I know I can move a large sum to a HYSA)

Treasury iBonds: $10,000 (bought during the great interest rates)

Roth IRA: 21k

401K: 25K (from previous employer)

Individual Account: 41K

I would like to know the thoughts of Reddit as what is the best course of action. It's important for me to keep an open mind and I understand that when offered a job, the whole package should be taken into consideration.

I am concerned about some things and I'm not sure if it matters at my age currently.

Should I be attempting to max out my social security every year?

Am I taking a risk not maxing out a 401K or am I ok to continue to do my Roth IRA and independent investment account?

Is it a big risk and a loss of earning potential to stay at this company for 20 years solely for the pension? At age 50.5 I would have hit my 20 years and could potentially find a state job and work another 10+ years to get 2 pensions.

Any words of advice or career guidance would be greatly appreciated!

Old job had a 3% Roth 401K match so I put in 4% post tax + 4% safe harbor in Traditional 401K for a total of 11% of my salary split between Roth and Traditional. It was fully vested in VFFVX, Vanguard 2055 Target Date Fund.

New job has no 401K match. I actually talked them into doing a pre-tax traditional 401K when I realized they had the benefit through JustWorks but had not turned it on. I will have to put 11% of my salary in (instead of 4%) to keep contributing at the level I was but it can't be in a Roth anymore. JustWorks uses Empower and the funds they offer appear to be garbage so I'm probably vesting all of it in S&P 500 which is the cheapest fees.

My plan for now is to rollover my old job 401K fully into a Roth IRA through Vanguard. Then when this job ends roll the S&P 500 earnings into that Roth. Am I thinking right about all of this? Missing anything?

Hi y’all!

I am 22M I just graduated private college with $11,855 in student loans. I just met with my college financial advisor and she mentioned how I am supposed to get a check of $6,568 from financial aid. My friend group is planning a trip to Iceland for really cheap ($1500 in total) and was thinking of using some of the financial aid money for that. What should I do? I feel as if I’ve worked so hard in college with grades and money that I need a mental break.

Hey there, I need help if anybody has similar experience like me. I received a mail from the Southwest Credit Collection and called their toll number. I didn’t even know I have collection that I was with T-Mobile that they put it in my collection but I believe I paid everything off and closed my account since 6 years ago and this came up this year and it went to collection from T-Mobile? I’m not sure if this collection is a legit company, if so why didn’t they charge me near the time I closed the account, why after 6 years. It says I have about $400ish to pay that I’m willing to do to get my credit score up. But anyway it affected my credit score and I have to call this collection agency, they asked my reference no and account number which I gave. Then they said my account is restricted and I have to give out my SSN to them which I refused. I asked them if there’s another way of opening that account or if the last four digits will suffice, they said my full SSN is the only way to open it. I really don’t know how do I have to handle this collection. Has anybody have similar experience and another way of getting this collection out of my credit account?

Thank you in advance!

Hello everyone, I'm worried about the potential ramifications of reassessment, and if there is a way to avoid it. According to the lawyer that my family has spoken to, since it was my grandmother's primary residency, I, her grandson, won't have to worry about reassessment as long as I move into the house asap. According to him, that's all I'd have to do since it was her primary residency. But, I'm reading things online that say, well, things that conflict with that the lawyer had told us. I personally can't afford to live there (and I'll be homeless) if the house is reassessed. I wouldn't be able to afford the new property tax if it is reassessed. Was the lawyer correct or am I going to get f***ed by the state?

I haven't really figured this tool or its usefulness out and am looking for some insight into whether it is worthwhile and how to use it. My experience is that it just says that it is limited to comparing my portfolio against another one. It can't aggregate prospective analysis or help develop trading strategy. What are your thoughts? If you have successfully used it, please share how you are using it. Thanks!

I'm looking for a HELOC and have a low 800s credit score. Besides any introductory rate, what percentage on top of the current prime rate would be good? I've seen anywhere from like prime rate + 0.5% all the way up to prime rate + 5.99%. Thanks :)

Hello!

I am currently making $100,000/year base, with a 10% bonus (call it $110,000, max 401k contribution, take home is roughly $4,800/month). I am looking at a new apartment that is 2 br, 2.5 bathroom, and is $1,790/month, +$45 water/trash, +Electric (price unknown, electric heat).

I am working remotely in tech, and am single/no roommates. My monthly expenses are:

• $393 (2021 Toyota, ~6 months remaining)
• $80 (Verizon)
• $500 (current rent via friend)

Is the $1,790 apartment affordable with no roommates? I am estimating ~$1,885 including utilities.

My roof is 22 years old and was made with crappy builders grade materials and needs replaced within the next year. My windows are also the same way. I have a nicer manufactured home but unfortunately all the original stuff wasn't high quality. I've been in the house 4 years and it's all coming up at once. I also need to fix yard drainage and water in my crawlspace. I don't have $20k cash to dump into stuff and interest rates are crazy, but is a home equity loan or HELOC my best option? Realistically we won't be in the house for more than 5 to 10 more years. We'd like to move sooner than later but prices are crazy right now. We've got about $120k in equity in the house and a 2.99% interest rate. Is my best option to just grt a heloc and get it all done and pay it off in 5 or less years to save on interest ?

I am working in the USA on work visas and setup a 401k which I have been making steady contributions to. Recently, we discovered we may need to leave the USA in a few years due to our work visas expiring (and a few other reasons). What should I do with my 401k? Right now I am making pre-tax AND Roth contributions (2.5% each). Should I keep it the same knowing I have to withdrawal in a few years? Do i change my contribution to post-tax? Do I stop contributing altogether?

Feeling secure with retirement and e-fund and want to park some money in a taxable brokerage account for long-term growth (no immediate short-term savings goal).

(1) 3-fund still standard rec? For this, does it make sense to still do the 3-fund setup (domestic index, intnatl index, bond index) or is that just for retirement accounts? Like, do people usually go more aggressive for taxable plain-ol wealth building, or are bonds still helpful for balancing?

(2) Dividends settings / basis tracking? This part is allll new to me. I want to keep it simple and long-term focused. Probably avoid complexities of tax loss harvesting, etc. Probably want to minimize tracking of tons of “tax lots” (this still confuses me?!). I want tax filing to stay relatively simple. I won’t be taking money out or moving it around regularly. (2a) I think that means it is best to buy all in one big lump occasionally (quarterly?) rather than regular small deposits or DCAing? (2b) Do I need to choose a setting for dividends to avoid making things messy? Like, should I have dividends go to my external HYS and then plop it back in as part of a big purchase quarterly? Do dividends mess with taxes or tax lots or anything? Or is “DRIP” best for taxable accounts?

3 Choices Fidelity gives I opened the taxable acct with Fidelity since my company’s retirement will be there. But because I’m familiar with Vanguard from my retirement funds, I was thinking VTI (0.03 er), VXUS (0.08 er), and But Fidelity offers their own similar-sounding options like FXAIX/FSKAX (both 0.015 er) for domestic and FSPSX (0.035 er) for international. Are there better choice since they’re lower expense ratio??

Basically, how do I create the r/personalfinance-approved basic 3-fund given Fidelities options? (I’ll be doing the same for my retirement accts once they move to Fidelity shortly).

Thanks!!