Empower Your Legal Understanding with AI Legalese Decoder: Weekday Help and Victory Thread for November 13, 2023
- November 15, 2023
- Posted by: legaleseblogger
- Category: Related News
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### Need Assistance with Personal Finance? Check Out PF Wiki
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In addition to seeking assistance from the PF Wiki, this thread is also open for personal finance-related questions, discussions, and the sharing of your own financial victories.
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#### How AI Legalese Decoder Can Help
The AI Legalese Decoder is a valuable tool that can assist individuals in deciphering complex legal and financial jargon often encountered when seeking personal finance guidance. By utilizing this technology, individuals can gain a clearer understanding of intricate financial concepts and terminology, enabling them to make more informed decisions. Whether it’s navigating tax laws, investment opportunities, or loan agreements, the AI Legalese Decoder can provide clarity and insight, empowering individuals to take control of their financial well-being.
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Original Content:
“AI Legalese Decoder is a software program that uses machine learning algorithms to decipher and translate complex legal documents into plain language. This innovative tool can help lawyers, paralegals, and clients alike to understand and comprehend legal jargon more easily, saving time and confusion. With AI Legalese Decoder, legal professionals can spend less time deciphering documents and more time focusing on the important legal matters at hand.”
Revised Content:
How AI Legalese Decoder Can Simplify Legal Documents
AI Legalese Decoder is a cutting-edge software program that leverages advanced machine learning algorithms to decode and translate intricate legal documents into easily understandable language. This revolutionary tool has the potential to greatly assist legal practitioners, paralegals, and clients by simplifying the often convoluted and confusing legal jargon. By utilizing AI Legalese Decoder, legal professionals can save significant amounts of time and avoid the frustration and puzzlement that often comes with deciphering complex legal texts.
Furthermore, AI Legalese Decoder offers the potential to double the efficiency with which legal professionals can review and understand legal documents. The traditional method of manually interpreting and comprehending dense legal language has been a time-consuming and laborious process. However, with AI Legalese Decoder, this time can be drastically reduced, allowing legal professionals to allocate more time and attention to the critical legal matters at hand.
Moreover, the implementation of AI Legalese Decoder can benefit not only legal professionals but also clients who may struggle to navigate and understand the complexities of legal documentation. The ability to translate legal jargon into plain language can empower clients to participate more actively in discussions and decision-making processes, ultimately fostering a more transparent and collaborative legal environment.
In conclusion, AI Legalese Decoder represents a significant advancement in the legal industry, offering the potential to streamline and simplify the often arduous process of deciphering complex legal documents. By harnessing the power of machine learning, AI Legalese Decoder can revolutionize the way legal professionals approach and handle legal documentation, ultimately leading to increased efficiency and improved client communication and understanding.
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****** just grabbed a
should I put $50 into my Fidelity IRA. They will put $100 in if I do it since it’s new
I’ve been considering an HYSA for a bit, in order to make my money work for me. Right now I’ve got 2k sitting in a nomal bank savings account making very little. i feel like I’m doing myself disservice with it there. My financial advisor pushed me towards a essentially, a monthly CD (I forget what he actually called it).
He gave me the impression that to start an HYSA, and get the advertised interest rate, you would need a high minimum amount (10k+). However, reading things here, it seems like thats not the case. So I’m confused.
How much do i need to start an HYSA and make it worthwhile. If like to have something accessible for emergencies and not tied up with fees or inability to pull out money, if necessary.
Example: If i start the year with 2k, and add 500 each month (6k total for the year), how much, above 8k, do I end up with?
Ally (4.3%) vs Wealthfront (5.0%)
Got some money from a lawsuit and looking on the best thing to do with it to set it aside for a little bit. Been comparing the two and kinda stuck in the middle at the moment.
Thoughts/feedback on either?
I have the chance to interview for a contract job on W2 that would bump me up from 85 to 100 an hour. But my current position is FTE. I canÔÇÖt think of any way in which my current job, even with its employer matching of 401k (I think 4%), could beat the 15$ an hour raise if I got it. Is that math right? I donÔÇÖt think stability is an issue either: there is no guarantee my current job wonÔÇÖt end due to layoffs etc., so I might as well take the contract position that pays more right? We also get all of our health insurance from my husbandÔÇÖs side so healthcare isnÔÇÖt the big benefit either.
IÔÇÖve recently switched jobs and am about to become eligible to open a 401k, however my company does not do any kind of match. I want to continue contributing toward retirement of course, but IÔÇÖm not sure if there are any advantages to setting up this 401k due to a few reasons.
1. The 401k company is a start up company, not a familiar large company like Fidelity (where my previous 401k sits). DonÔÇÖt know if this matters.
2. I donÔÇÖt anticipate being at this company longer than a handful of years, so I donÔÇÖt imagine it would be a significant sum by the time I need to switch again.
3. I do not have enough expendable income to be maxing out any of my retirement contributions. I imagine IÔÇÖll be putting away ~$6000/year for the next year or two.
4. I do have an HSA with this job (woo!) so I am contributing to that
Is a 401k my best bet or would I be better off funneling to a Roth IRA or something like that? Any insight appreciated!
ELI5 style question. 401K, let’s say hypothetically all of my contributions have been 100% Stable Value Fund or any other fund for that matter. I now want to switch to 100% S&P500 US Market Fund. When I make this switch in my account (Voyage, Fidelity, etc.), does that mean that with all of the funds I have so far I will be “selling” my Stable Value Fund “shares” and “buying” into the S&P500 fund at the current market price? Basically asking if it’s essentially like buying and trading a stock.
I currently have HealthEquity as my HSA and I believe they charge me an upkeep fee. Once I leave my job in a few months, I am planning on moving my funds in my HSA to Fidelity so I do not have to pay a fee.
I want to invest my HSA for that vaunted triple tax deductible investment, but I have confirmed with HealthEquity that they do not do In-Kind Transfers.
Should I just wait till I move my HSA funds to Fidelity? Or should I invest now, liquidate transfer in 4 to 6 months to Fidelity?
Making selections for open enrollment and I have a question about the HSA. IÔÇÖve been maxing that out each year. My options are to spread it out over each paycheck or select lump sum and I can choose the paycheck it will come from. There is a chance I will be leaving my company in 2024. Is there any strategy I should be considering as far as contributing the lump sum before I might leave? The unknowns would be whether my next employer has an HSA. IÔÇÖm assuming the max is per year not per company/HSA account. Thanks for any insight!
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I recieved an account statement in the mail a few days ago for a Goldman Sachs Marcus savings account that I didn’t open. The account was created in my name and the statement was sent to my home address. There doesn’t appear to have been any deposits or withdrawals in the account and the balance was $0.00. I called Goldman Scahs and had them close the account and they recommended I use ChexSystems and put a security freeze and report identity theft to the FTC.
I’m just wondering if someone has experienced something like this before and why someone would even do something like this? I don’t have an Apple card or anything like that so I don’t think the account couldn’t have gotten accidentally created. It definitely seems like someone else managed to get a hold of my information and created it. But what would be the purpose of creating an account in my name, using my home address, and then just not doing anything with it?
I have a IRA Money Market account that is being closed due to the credit union no longer wishing to maintain such accounts. What kind of accounts can I transfer that money to without incurring a penalty? I was hoping to roll it into a 401k/403k account I have with work but am unsure if thats even possible.
Am I being too anal in shifting money around to get the most of out of compounding daily interest in my HYSA? It’s 4.35 APY currently and so far my strategy has been to shift my direct deposit from checkings into savings every paycheck the day I get it and then transfer the total amount I’ll need a few days before my first bill is due. As result, I really only keep a few hundred in my checkings but otherwise transfer the majority of my paycheck. For the moment I only have a car payment (which is take directly out of the HYSA so I don’t think about it) and my credit card bills. I have less than 10k in my HYSA and so interest is really a pittance and i can’t imagine the roughly 10 day period that my money is sitting in my HYSA after payday before I take it out for bills makes any kind of difference. But honestly, I don’t see any downsides in doing it this way either, other than a couple of minutes on my phone calculating how much I’ll need in my checkings before the end of of the month and making sure the transfers are set up correctly. Feels a little extreme, but since it’s not that much of a time sink it really doesn’t hurt to do? I really don’t know what I’m asking here, maybe I’m just looking for validation, idk lol.
(my post got deleted so I’ll repost here)
Wealthfront vs Fidelity for primary checking/savings. I already have a traditional bank but want to earn more on my money with these non-bank methods. Wealthfront looks simple and very high APY for savings. Fidelity is more reputable (important since these aren’t banks) and has CMA, MMF, etc. I don’t really have a need to deposit cash frequently or write checks; this account is mainly for saving emergency fund and paying expenses.
What happens if you have an HSA for investing and you save your health receipts for future withdrawals and you plan to retire at age 50 but your total medical expenses at age 50 only amount to 20% of your total HSA? Does that mean you have to wait until age 65 to withdraw the other 80%?
How financially inefficient would it be to lease a car with a plan to buy it out at the end? Our car is on its last wheels and we need something sooner rather than later, so no time to save up for a down payment.
WeÔÇÖre looking at a RAV4 Prime because there is a promo of 6500 going right now. Based on the payment calculators itÔÇÖs only an extra 60 bucks per month to get it over a regular hybrid. ItÔÇÖs like 400 a month with about 5500 down at signing. Residual at the end is just under 25000 at 36 months.
My calculations have this being a solid deal, with the only extra cost on the car is whatever interest we are paying from the buyout loan if we donÔÇÖt have cash in 3 years. Am I overlooking something?
Are cd worth it for a college student. With low bills
I got about 4K in sp500 stuff and a little over 10k in a mm thatÔÇÖs has like a 2.2% dividend rate I think. But my bank also offers CD
They have a 18 month with minimum 1k that gives 5.25% or a 6 month with 4.25 that IÔÇÖm thinking of putting some in.
I make a little over a grand on paper and use about 600 to pay everything I need. I also make extra by doing odd jobs for cash.
Sorry for English.
UPDATE:
Went with the selling the vehicle advice ! They gave me around 6k for it!!! Yay ! So I was able to pay off the balance and now in the market for a new car !
However, my bank did tact on $750 fee for repossession cancelation. Is this normal ?
When using a tax estimation calculator and it asks you for your federal withholdings, do you include social security and medicare withholdings in that amount? Or just federal income tax?
I’m seeking some advice as to what to do with a recent cash gift that I will be receiving from a family member to purchase a house.
I have been saving for a down payment for a few years and have about 40k set aside for that, I make around 85k per year in a pretty HCOL area. I began the process a few months ago of applying for a home loan, getting realtors, and started looking for homes in the range I was approved for.
As I was narrowing my search and starting scheduling showings at some houses, I was contacted by a close family member who wants to gift me $500k to purchase a home. This is something this individual did with another family member of mine. I was excited about the idea of buying a home on my own as it had been a personal goal of mine, however, it would be stupid not to accept this once in a lifetime gift. I’m looking for some advice and want to make a smart decision financially. The gift will come as a wire into my bank account.
The lease on my current house is up at the beginning of February so I was hoping to find a house before then, however I’m not in a major rush and honestly just want to do what’s smart here and not get caught up in the excitement. My head is definitely spinning a little bit with all of the options.
About me:
– Single, early 30s, mostly self-employed
– No debts other than small car payment (I have about 4k left on it – was considering paying it off completely before I bought a house, now I will definitely be paying it off)
– I have a ROTH and some other small investments but nothing major – roughly like 10k altogether in investment accounts. Got started a little late here.
– I am/ have been interested in investing in real estate as a way to build wealth
– I’m also interested in using some of this money to invest in my business
– Eventual goals are to have a family, own more real estate, grow my business
Things I’m thinking about:
– With interest rates as high as they are, should I buy a house in all or mostly cash and then refi/ get a mortgage when rates drop?
– Do I try to buy a duplex or a house with a basement apartment etc and immediately start generating income? (I know this comes with a lot of extra work) The rental market in my area is pretty consistently healthy.
– Do I buy a fixer-upper house and then put cash into it for a reno? Potentially BRRRR into another property in a few years?
– Should I buy a second home or apartment as a rental in a nearby less costly area with some of the cash?
IÔÇÖm getting a tax credit to be used to pay off my student loan debt. I need to put the amount I was awarded to my loans within 3 years (by the end of 2026). Since itÔÇÖs a decent chunk of change theyÔÇÖre giving me, my plan is to put the money in my high yield savings account to increase my interest and then use the original amount awarded towards my loans. Is this the recommended way to go about doing this, or does anyone else have any recommendations for how to capitalize on this?
I’m really in a bind and I don’t know what to do.
I had an insurance issue that resulted in a huge sum of money being taken out of my checking account. I now have -800 dollars in my account. I’m charged an overdraft fee of 25 dollars every day my account is negative. By the time i get paid next Friday that’ll put me nearly 1100 dollars in the negative. My paycheck won’t even cover that.
I have no money, no gas, no food, and nobody to ask for help.
$100k into 12 months 5.20 Cd discover or 18 month 5% CD?
CD rates peaked?
Does it matter if I max out my backdoor IRA before I max out my mega backdoor? Or is it better to max out mega first?
[deleted]
Where to put leftover money each month (23 y/o)
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After saving 6% toward 401k (employer match), 19% toward investing, paying my car, rent, etc. I have about 650$ leftover each month. My issue is I am not sure what I should do with this leftover money.
My car is about 37,000 @ 5.45% and my student loans are about 36,000 @ 5% and below. I already pay 300$ more each month to my car and my loans aren’t being payed for another 10 months from now due to the save plan. I have no credit card debt and I have a 6 month emergency fund. I changed jobs recently and I am now making 49,000 anually.
Would it be wise to invest that additional money? Primarily investing in a few index funds and a target date retirement fund. OR would it be smarter to pay off this debt, even though my interest rates on it all are very low?
New to this sub and getting into the intricacies of banking. Just had to deal with Citi over the phone a lot for some nonsense, and one of their reps asked me for my entire ATM card number corresponding to my savings account with them. Giving out the entire number has kinda made me worried money could be stolen from the account, but should I be?
Can someone explain this noob the basics of buying a T bill from fidelity ?
https://imgur.com/a/V4mZlEu
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Just confirming, its generally a bad idea to have more than $250K in a single bank, specifically in a HYSA? have some investment money parked in a bank but approaching the $250K limit and wanted to make sure I didnt need to open a second account at a different bank. Other than hookers and blow, any ideas where to put 250K that we hopefully wont need for many years that pays better than 5%?
CD- multiple banks or one?
I am considering the following options:
BoA: 13-month CD at 5.00% APY
Local Credit Union: 12-month CD at 5.10% APY
Capital One: 10-month online CD at 5.30% APY
Ally: 18-month CD at 5.15% APY
Each CD will be $5k balance. Or should I just go all 20K at the highest? I am not quite comfortable putting all 20k at Capital One. I also like the various time.
What would you do???
Tried to make a post but it got removed.
Considering taking overpayment $ for mortgage and placing it in HYSA, but online calculators seemed to indicate that gains aren’t as big as I would’ve thought, based on what other posters have stated in the past for similar questions. What am I missing?
Let’s start off with some rough numbers closer to my situation.
Mortgage balance: $200,000
Remaining loan term: 13 years
Mortgage interest: 2.125%
Overpayment amount: $400
HYSA interest: 4.95%
I used an online mortgage calculator and a bankrate one to help with my research Mortgage Payoff and HYSA gains.
Based on the Mortgage Calculator, I would payoff my mortgage in 119 months (9 years, 11 months).
If I were to start now, take the $400, and instead put those in a HYSA (and that’s ASSUMING that it remains at 4.95% for the lifetime of the savings account), it would take me about the same time to payoff the mortgage balance (~$54K at the end of year 9 with a mortgage balance of $67.5K. So 13.5K to pay between year 9-10.).
I’m not sure if I’m doing the calculations correctly, but it doesn’t seem like I”m gaining much by going through the trouble rather than just paying it directly into the Mortgage. It’s also very likely that the 4.95% return on the HYSA won’t last for the entirety of the 9+ years.
I think the biggest argument for it, is that for the entirety of the 9+ years, you technically have that money available to you in case of an emergency, rather than it being sunk into the mortgage. Fair enough point if the calculations are correct, but I guess I was just surprised that calculations seemed to indicate that I wouldn’t be gaining much by shifting the money over to the HYSA rather than paying the mortgage off early.
Am I missing something? What are some of the gains I should be seeing that I’m not seeing by shifting the overpayment to an HYSA over the next X years versus just paying off the mortgage, if ultimately my goal is to pay off the mortgage ASAP?
Quick dumb question:
IÔÇÖve been investing in CDs at an interest rate of about 5.5%. IÔÇÖve got about $150k to invest. IÔÇÖm married and live in California and our joint income is about $240k.
Would I be better off going the T Bill route? IÔÇÖm reading that the tax savings would make it worth it but IÔÇÖm too financially illiterate to know for sure.
I want to do a recurring investment of $70 a week and idk if I should dump it in VOO or in Shopify, Microsoft, Google, Apple, Amex, Amazon?
Any help or pointers?
Hello all!
Need some quick advise. My wife lost her job a couple of weeks ago. We live pretty frugally and try to save up for the future as much as possible. We have a solid 6-10mo savings. My job can support us in the near term but it would require me to dial down my 401k contribution.
I am very keen on contributing to my 401k and just broke into 100k earlier this year – I am in my early 30s.
Question is – should I dial down my 401k to allow more disposal income or should we just cut back on some other things as much as possible?
Thanks!
Hello — I’m using a Vanguard Target Retirement 20250 Fund (VFIFX) and I am 100% allocated to this. The return for the fund shows the annual for the past 12 months to be 18.48%. However, my personal rate of return is 3.46%. Is there a reason for this discrepancy?
Hi – I’ve been using Mint for ages and know it’s going away. I’m looking for a tool that can help me track overall account status, net worth tracking, etc. Finding recurring subscriptions to help visualize and close accounts might be good too but not anything I’m doing today.
Seems like a lot of the suggested trackers are really focused on debt visualization, monthly budget tracking, etc. All of that is fine, but I’m really just looking for a Mint replacement where I can enter my credentials for all my other accounts, mortgage, etc. and help provide an overview of my entire financial picture, net worth, etc.
Does anyone have any good suggestions? I don’t mind a small fee if it’s truly considered the best option. Thanks in advance!