- October 18, 2023
- Posted by: legaleseblogger
- Category: Related News
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Introduction:
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Conclusion:
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****** just grabbed a
IÔÇÖm getting a raise that amounts to an extra $200 a month. Retirement is currently at $175/month (IÔÇÖm in my mid-20s). How much would people recommend go to retirement vs HYSA for saving up on a house (hope to buy in the next 2-3 years).
I’m putting 18% into retirement each month, and while I have always tried to put as much away as possible, now it feels like I’m living too close to the edge. Any advice to move past that feeling, if it’s worth working through?
How much would a money market fund or tbill ETF save over HYSA
With 50-100k in a HYSA, would it be worth the hassle to switch to either a money market fund or a tbill ETF for slightly higher rate / tax savings(for the tbills)? How much could it realistically save over a few years?
(State is MA for taxes)
Note: not looking for something riskier with higher potential return, this is a short term savings
Our nonprofit school accepts donations which are tax deductible, they will also take in kind transfers of securities as a donation. LetÔÇÖs say I want to donate $1000, what if I donate stock worth that much and then rebuy the stock essentially resetting the cost basis/capital gains. I think cash donation is still better because itÔÇÖs saving us in a higher tax bracket than capital gains but wanted to make sure IÔÇÖm not missing something.
TLDR: make tax deductible donation or donate securities in kind that have capital gains and rebuy securities?
Quick question: when depositing to an IRA you can only deposit the total taxable amount you make that year, so if so far in 2023 youÔÇÖve made $2000 are you able to deposit that $2000 into your IRA for 2023 or would you deposit it in 2024 after youÔÇÖve filed your taxes for the previous year?
Trying to decide whether or not open an account with Betterment or Wealthfront.
Would it be worthwhile for a new account of about 10k, non-IRA? Looking for feedback on recent experiences with both or either one.
I also have a few other smaller accounts with Fidelity and Schwab, and just trying to test the waters before moving money out of savings. Ideally looking for something that offers a good value and return with options for automatic investing (ideally less work for me.)
Also, any other options that I am overlooking? Was also considering Vanguard, but read a few things about their inferior UI interface, so not so sure about them
I have some $ in my savings account (at 4.3% interest). I can buy a 3-month CD through fidelity with oriental bank (at 5.45% interest). Since I won’t be needing this money for the next 3 months, is there any reason not to purchase the CD? Thanks in advance!
Changed home insurance but the payment for my previous insurers renewal hit my escrow account. I got a check for the refund. To be like I was never billed for the insurance, I should make an escrow-only payment to my lender, correct?
I signed up for a new credit card on September 26th. Made a large purchase the same day. My account says there is no minimum payment due. The next statement day is October 19th. Am I correct that I need to pay before October 19th to avoid accruing any interest, or do I have until November 19th to avoid accruing any interest?
A few weeks ago, my apartment building burned down from a large fire. I’ve started to claim the items in the apartment, but the adjuster said that it’s likely that I’m going to hit the coverage limit. I had a few things in the apartment that were my parent’s, such as a sofa, and my mother’s antique dresser. Are they able to claim them on their own home insurance, thus allowing me to claim more things of my own, or since they were in my apartment, they have to be claimed through my insurance?
Brokerage Comparison for ROTH IRAs: Fidelity vs SoFi
I am curious about the Pros and Cons of each Brokerage for Roth IRAs when compared to each other. Currently, have my Roth IRA with Fidelity and it has gone pretty good I like their apps and research options and their services. I wanted to know what were the main differences, if any, in fees, expense ratios for mutual funds etc. What does SoFi has to offer over Fidelity and vice versa? Again I am mostly interested about Roth IRAs not any other type of accounts.
Thank you everyone!
So student loans are back this month. Can you guys let me know if I should pay off either or both of these loans and save myself the interest?
My loans: $5,470 at 4.28% and $4,962 at 2.5%.
I currently have 25k in high-yield savings earning 4.4% (I may change to a higher yield shortly). I am not sure if the savings yield and interest accrue the same way. Would I be smarter to pay the monthly minimum and continue to add to my savings or pay off one or both loans? These are federally subsidized loans so if I pay them off now I would only pay like $11 in interest.
Further info: I have 8k in checking. I just recently started to bring in 8920 a month take home (volunteered for out-of-town work for significant per diem), and I spend 3k on rent/car payments.
Fidelity CMA&Brokerage vs. Primis?
My bank got acquired and I don’t want to move to the new bank. Trying to decide between Primis (5.07% checking with ATM Fee Refunds and $5 wires) and Fidelity CMA&Brokerage (4.99% APY via SPAXX with ATM Fee Refunds and FREE wires).
Anyone use either and have any thoughts? Primis interface seems awesome and has the slightly higher APY, but Fidelity has free wires and is more well known.
I’m the man. That is all.
Hello! My friend and her partner of 10 years just split. He is currently the beneficiary on her life insurance policy. She would like to remove him as beneficiary. Her mom and sister were already listed as additional beneficiaries.
Her question: the form to remove him as a beneficiary asks for his SSN. She does not want to ask him for his SSN. Does it seem right that she would need his SSN for the paperwork to remove him fully as a beneficiary?
​
I’ve already mentioned that she should reach out to her company’s HR and the life insurance provider. Just wanted to get a gut check.
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Roth IRA question: I’ve currently maxed out the $6500 2023 limit for my Roth IRA. I only purchase $VOO in my IRA, but I have $160 left over that I can’t buy $VOO with (due to it being ~$400/share).
Will this $160 “roll over” to 2024? (e.g, if the limit stays at $6500, will I be able to still deposit $6500 for a total of $6660?)
If not, should I just buy a few stocks I plan to hold for 30+ years with the $160?
Hi all,
Background: I am 35 years old and currently finishing up grad school. My hope is to prepare to buy a home (likely a condo or apartment in a city) in about 1-3 years after finishing up grad school Fall 2024, depending on the cost of homes and mortgage rates. My expenses are generally low and I also a have separate emergency fund, 401ks from previous jobs, and a maxed Roth for 2023. So this amount is just my cash savings.
My father is suggesting I lock up a significant chunk of 100% of my liquid cash savings into a 5 year high-yield CD. The remainder of my cash savings are locked in CDs that should be maturing in 2024.
The five-year rate is somewhere between 4.5% APY and 4.85% APY depending on the bank. The first would require opening a new bank account and the second would require purchasing a CD on Fidelity Brokered exchange. Technically there’s also a third option which purchasing a non-call-protected CD on Fidelity at 5.7% APY for 5 years. But I’ve no idea what the average risk would be on those CDs being called over the next 5 years.
I’m not sure if locking up my money in a 5 year CD course of action is a good idea or not. If combine my liquid savings with money locked in the CD, it get’s pretty close to 20% down payment amount. If I lower the ceiling on my range it can stretch to about 25%.
Given how high the interest rates are currently, the short-term CDs (12 months ~5.2 APY) make more intuitive sense to me. But I also get my Dad’s point of view for long-term saving and he seems to believe the current interest rates are better for long-term saving. There’s also the chance I may not end up pursuing a home if I’m unable to find anything in my target range and I’m afraid I’d lose out a guaranteed long-term rate.
My main hesitation is my own lack of understanding of the history of CD rates and savings. My dad tends to be far more conservative when it comes to investing and as a result, a large chunk of savings is already stuck low-interest CDs (1-3%). Any suggestion on how I should think about this? I don’t really have a good framework for thinking about my savings in the context of potential home buying and general savings.
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Capital One upped my interest rate to nearly 30%!! What would you do?
Normally, I pay off balances in full every month. I have had one Capital One card for six years, and another for two, increased the balance of the newer a few months back.
I opened an apple card last month, for emergencies, but just bought an emergency high-ticket item on that.
My credit has now gone down from 780 to 750 with the new card and higher usage, which I expected.
Apple Card has interest of 21.25%. Capital One was about 23%, but I now look and they’re both at 29%. What’s up with that?? What would you do? I mean, besides fully paying off every month. It’s going to take me several months to pay everything off fully, but I’m assuming Capital One won’t reduce that rate once they’ve increased it… This is really crappy business behavior. ƒÿò
Thanks
Hi all, I’m looking for a HYSA with a high rate (I have seen some with 5%+), but as little restrictions or “gotchas” as possible. Must be FDIC insured.
I want to move my money in and start getting gains and not screw around with it.
Last time I dug into HYSAs I found all sorts of “gotchas” in the fine print like high fees for transferring your money out. Last time I went through a “top 10 highest hysa” bank list it was 30-45 min *per bank* just find out they were doing something that seemed unscrupulous or it wasn’t a match.
Does anyone have any recommendations/solid experiences? Thank you
Should having a 3% mortgage /30yr make one more inclined to buy long term bonds at current rates?
I have 5000 in credit card debt and 1500 in student loans. The credit card payment is killing me and I need cash flow for home improvements aka repairs. My savings are wiped out from buying a house and having a baby. Would a heloc be a good idea? IÔÇÖm only planning on using 15k max
<pslf payments donÔÇÖt have to be consecutive> does this mean if I have 7k of loan right now and make about 40 payments to pay off the loan. Then 3 years later, I go back to school for a doctoral degree and end up taking out about 130k out in loan for a 3-yr program, would the 40 payments I made towards my undergraduate loan count towards pslfÔÇÖs 120 payment so then I would only need to make 80 more payments before I qualify for pslf?
So I have some money coming in this week and after paying off some medical debt IÔÇÖll have about 35k to do something with.
I currently have a 401k with employer matching 6%. I was thinking about setting ~5k aside for an Emerg fund, starting an IRA and sticking the rest in a HYS account for now.
Anything else I should think about or is this a solid start?
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I’m one of those people with tens of thousands of dollars in a big bank’s low-yield savings account that I’d like to move. I know a lot of people use Ally’s HYSA at 4.25%, but I see some money market offerings around 5%. Why are HYSAs the default recommendation for parking money that I want to remain liquid if money markets afford similar liquidity but better rates? And how do I choose a money market — or what are some popular ones to check out?
Should I break 18 month CD 5% to buy treasury bills?
Sorry I just cant do the math I purchased a bank 18 month CD at 5% last June, 2023.
Considering the Treasury billsÔÇÖ higher interest rate and the fact that I wouldnÔÇÖt need to pay state and local taxes (Maryland) later, wouldnÔÇÖt it be better for me to break the CD now and buy the TB?
(How to get started with your first HYSA) As a 24F I’m not very informed when it comes to high yield savings accounts but I want to get started. Im looking for recommendations for my first one, about how much to put in, as well as a question I never really see get asked. How easy is it to get your money OUT of a HYSA in case of an emergency? What is that process like compared to a traditional bank account? I have accumulated a good amount of savings over the years and im looking to put that money to use somehow as I don’t need it at this time and it’s just sitting in my regular bank account.
Is there a way to shop for Life insurance in the US without getting a thousand phone calls and my information being sold to everybody?
I have about $35k just sitting between by BofA savings and checking accounts. What’s the best bank to move most of my funds into a HYSA? I want ease of access to move/access my funds when necessary. Bonus points if said bank also does competitive T-Bills or CDs. Thank you!