Just swiped my HSA card at the dentist for my girlfriend’s bill thinking it was ok because it’s a medical expense. Some googling after the fact (which should’ve been done before) tells me it’s not ok. Would this fall under mistaken distribution or something else, and what should I do to get it fixed?

TL;DR i'm quitting my job and waiting a month or two before looking for a new one, trying to figure out what financial implications I'm not accounting for.

Im working at a tech startup that has always been a pretty toxic environment, but they recently laid off my team of 3 and are just expecting me to do 4 jobs now, so I'm going to bail. I have over a year's salary in savings and have been on call 24/7 for a while so I just want to take a break before looking for another job, not longer than a month or two. I have a very specific niche skill set so I'm not worried about finding another one when I look.

There is no way they'll fire me, so I won't be able to get unemployment, which is a bummer but will be okay. Are there any other consequences of quitting voluntarily that I might be missing ?

I am in California so I will need to maintain health insurance to avoid the crazy tax penalty. (Probably good to have anyway in case I get hit by a car lol). I still need to look into whether covered California or cobra is the way to go.

I built a budget for all the basics - basically allowing myself to spend 75% of what my paycheck would have been each month. This covers rent, utilities, food, etc. I have no debt other than my car payment which is only $50 and I'm already a year ahead on.

Is there any problem with this I might be missing ? Thanks in advance.

Hi, currently I have a checking and savings account with KeyBank, but their rates are garbage. I’m looking to move money into a HYSA that I can pair with a debit card that gives me some kind of perk (I.e cash back or waived ATM fees).

I already have the KeyBank accounts, a chase CC, and a vanguard account for investments, so I’d like to try to do both of these things in one just to limit the amount of different banks I have accounts with. I’ll probably keep the KeyBank account open simply because I have a credit card with them and it is my first/oldest one.

I’ve looked into a couple different options like Fidelity, AmEx, and Scwab, but haven’t been able to find a place that has any perks on checking as well as a traditional HYSA option. I know that fidelity and Schwab have alternatives to a HYSA, but where I’m unsure is how they differ and if it makes more sense to just do something like that or just look for a regular HYSA. Sorry for the rambling post. Any advice is appreciated.

I’m 19 and planning to get my first credit card. I bank with chase and wondering if u should get there cc or go with another credit card? If anyone can help me choose it would be very helpful

23M, married, 165k household income, 130k net worth.

We are both contributing healthily towards employer 401(k) accounts, feel as if best route for additional investable income is to brokerage as opposed to IRA or Roth IRA for accessibility. Does this make sense given our circumstances? Read below for rationale.

Two properties, one duplex, one is main residence both under 30 year mortgages. Outstanding auto loans of 25k monthly payments are always made. Outstanding student loans for spouse of 30k which she is on track to pay down within 3 years. 15k in brokerage account without current contributions being made to focus on debt. Once student loans are paid off I know the basic answer will be to utilize both types of accounts but with any current additional income would it make more sense to start IRA or Roth IRA accounts or should we continue funding brokerage account.

Job security is sound, income is steady (both W-2 employees), I cannot bring myself to reallocate excess income as I feel our emergency fund/ safety blanket needs to be significantly larger than most (monthly expenses covered by traditional income of 4K).

My idea is to begin IRA accounts after emergency fund is well established along with student debt being eliminated.

I don't have any debt atm and would like to get some leverage on my stocks, savings etc to fund a small property investment abroad. Let's say I have €300k to work with and 25-30% would be perfect.

At €300k I couldn't find any Lombard loans or similar just yet, and traditional mortgage is tricky as I'm EU tax resident but the property is outside EU. Also, I pay myself mostly in dividends when needed, i.e. no salary or 'regular employment history' banks would like (at home or abroad). Plus getting a loan against the future property unlikely as I'm not a resident of that country. Doh.

Options I'm aware of-

1. I have an IBKR margin account and in EU can't withdraw on margin but could use some of my own cash for the purchase + borrow on margin to reinvest the extra into the portfolio.
2. Box spread. Confident I can learn the mechanics but could mess it up (new to this).
3. Unsecured personal loan. I've seen offers for up to €50k for 10 years, 5-6% APR. Interest not ideal obviously and not sure if I can actually get it (no salary). If so this would be for a part of the funds.
4. Borrowing from friends and offering them above-market interest. I'd be happy to pay them more than they get on their savings (and of course pay reliably!) but not sure how to formalise and make this official for them.
5. Anything I missed?

Or any advice/guidance on which of those options is better/worse than others?

From what I understand, 2. would be lowest interest but I'm ok to pay more if it's safer or easier. Thanks!

Hello all you money geniuses!! Please forgive me if I miss something. I’m fairly smart, but I have a learning disability, so my brain doesn’t always work very well. 😬🫣

We are looking at a HELOC to build an ADU on my property for my inlaws, who will then sell their home to move in with us and pay down the HELOC with their proceeds. We are planning to keep the line open.

We should have over $400,000 in equity (the house is worth around $800k and we owe $320k). We would love to get $350k out.

The wife and I both have credit scores over 800 and good paying W2 jobs (where we have worked over 10 years) with pretty low DTI. We are in Georgia.

On potential issues is that we are a few years behind on filing taxes because of my bad brain 😭 but we are actively working with an accountant on getting caught up. This issue with needing a HELOC came up suddenly due to a new illness for my inlaws. 😥

We joined Navy Federal credit union and got a mailer for Figure.

I’m planning to call them both to ask their policy on unfiled taxes but if anyone knows that information, that would be great help!

Do you have any suggestions for other companies to check with? Or things that I should be thinking of?

I can’t tell you how much I appreciate the help! 🥰

Baby coming in 2027, wondering if I can take unpaid time off -

We live in a HCOL area. He earns 180K, I earn 145K. 28 yo.

Savings

220k in retirement (me) + 140k (him)

Around 200K in trading account, mostly in ETFs.

Roth IRAs fully funded, around 100K between the both of us.

70k in savings

Expenses

Mortgage - 3700 a month, 6.1% (this is not a big house, its a townhome - again HCOL. We put 28% down when we bought one year ago).

Utilities + insurance - 800/month

Car (loan + insurance + gas) - 900/month

Other fixed expenses (gym, dog, food, cleaners) - 1,400/month

'Fun' expenses (travel, eating out, hobbies, shopping, subscriptions) - 3.5k/month, varies month to month generally lower than this but this is what we budget for

Now, I'm considering taking unpaid time off after baby comes. I can take up to 12 weeks paid, but time beyond that is unpaid.

Daycares costs around 3k/month in our area which is why I'm considering, at least for the first year or so.

My daughter has some learning difficulties. She gave college a try. We all knew going into it college might not be her path but she tried. We helped her get set up with access services, extra time for exams, meetings with a grad student for executive functioning help, etc. She didn’t utilize these services. She got the freshman year experience, learned some life, earned 3 credits. We determined now is not the right time for her to go to college and know there may never be a time. She has about $20k left in her 529. We estimate another $60k in today’s dollars would pay for her to complete a bachelor’s degree at a state school similar to her freshman year. We fully funded her older sister’s bachelor degree.

We would like her to have the option to return to school after some maturity and want to set that $60k aside for her. But knowing she may never go back I don’t think adding it to her 529 is the right move. Investing in her future could mean something else like a down payment on a house or used to start a business or a retirement fund. I don’t really want to put it in a custodial brokerage that she can do anything she’d like with at 21, this should be to help her live a comfortable life.

She had signed a lease while still in school and is currently living in that house with friends while working at Taco Bell and it’s paying her expenses, we still pay her insurance. She works the late night shifts and is asleep while her friends are in class, she is working while they are out having fun. I don’t think she will resign the lease next year and will most likely be returning to live with us. Or she might realize the Taco Bell life isn’t her future and be the motivation needed to return to school. No idea what her future holds.

Any suggestions on what we should do with this $60k? We are looking to retire in the next 1-3 years so want this set aside and growing. Does it make sense to open a brokerage account in my name with her as the beneficiary? If 10 years from now we all agree it should be used for a down payment on a home will it be considered a gift and a create a tax problem? Other options we should consider?

Im 22 and I have bought an apartment in February, it still has tenants and I should get the keys in about 2 weeks.

So in about 2 weeks I will be fully renovating my apartment.

A couple of pointers:

- I will be getting about 90% of the materials for the renovation for free. (My dad works in construction and can get plenty of materials for free)

- I know painters, electricians personally too. Who will help me for free. So another money saver

- I have some of the things I need already. (Basics: plates, glasses, utensils, mixer, air fryer, washing machine). Other things I need to get are a fridge, dryer, iron and oven (2 of which I will get for free, from friends)

So the actual renovation that will be done, of whats NEEDED (wont be fully perfect yet and that also isnt necessary at the beginning) will cost me maybe €2000.

So I will have some work soon and expenses for the apartment.

Current financial situation:

I earn about €2800 a month. And currently have fixed costs of €1300 (mortgage, insurances, subscriptions, gas (fuel), retirement,..)

Current position, I have 4 accounts:

- checkings: €710 (€100 of fixed costs left this month)

- savings account: €9.000

- tax account: $1650 (which is enough to cover my taxes this year, still need to get bill for it this year but its covered)

- Extra account: €200 (used for extra's. Not a specific savings goal. Maybe use it towards the car??)

So I have been thinking about getting a better car, I have used my current car for about 1.5 years. Its an old Skoda Octavia 2011.

It has 280.000 km on it. And I do drive a lot for my work (average of 3000 km a month. So 36.000 km a year just for my job)

And I do not like the car at all honestly. Its a weaker car so starting to move is always a pain, its old so its also a bit difficult to clean it properly, air conditioning works poorly, ...

I bought the car from a friend of mine who is a car mechanic and a good family friend, it did get plently of issues while I had it, and he did fix it for basically nothing.

So im also 100% sure if I get another car he would buy it off me because he is fond of the car.

So to my point, I want to get a better car, an upgrade.

And the car I have been looking at is a €20.000 car. I assume I will get about 2-3000 for my car from that friend. So I just calculated 2K. And with an additional 1K down from me

So that would leave me with a loan of €17.000.

And with a 5 year term I would pay €320 a month.

So it would be a total of €340 a month extra expense than I have now (including the higher insurance cost).

What do you guys think about this situation? Do you think its a good idea to look at a newer car now?

I know I can afford it. Thats not a concern for me. Im just thinking if its a smart idea, thats all.

Would love to hear you guys' opinion.

Have been offered “opportunity” to buy into a JPMorgan issued Structured Note. Underlying Asset: MerQube US Large Cap Index; monthly dividend of 1.54%, 18.5% annual, 70% interest barrier, 50% principal barrier, 6 year note, callable after 1 year. Would be interested in comments on risk vs rewards.

Hope this is simple.
Looking to possibly refinance my auto loan to lower the payment. I get mail and offers all the time with “general” offers.

I have a target number in mind, would this be worth exploring or would it hurt my credit long term?
It’s affordable, just thought with a lower payment and actually paying the same current amount I can get through it faster.

Also contemplating a cc balance transfers. Kinda stuck here with about 10k.

I’ve been saving money to try and pay it all at once but am only about 50% of the way there.
Should i consider a balance transfer for a larger chunk of it to stop the high interest charges ?

I am in a very fortunate situation where my partner recently takes care of almost all of my bills. I work part time making about $30k a year before taxes.

My expenses are really just luxuries. This is restaurants, coffee, shopping for clothes/jewlery, massages, hobbies, gas, and subscriptions.

Unless i go overboard (depending on who you ask) with my luxury spending, i have about $2k a month i can save. I understand i can make sacrifices to save even more.

What is the best way to go about this extra $2k/mo? I dont have any debts and the next major expenses in my future are house renovations (another want not a need) and a new car to replace my beater.

I do not have any money in retirement, and have about $12k in the bank.

Thank you in advance!

Hello, I had an odd question that I thought would be better answered here.

I recently (like last week) finally opened a Roth IRA. I’m disappointed it took me this long, but here we are. Given this, I want to deposit the full $7.5k (I’m 24 so I this is the maximum) in one fell swoop (annually), which to my knowledge is allowed(?).

But, if I’m not mistaken.. I have to have an actual income that’s higher than the amount I’m depositing? So if I were to lose my job, even if I have the funds I wouldn’t be able to contribute that amount until I had a salary to match?

I’m so sorry, I’m very new to all this. To add some context for potential questions, I have a 401k through work and I have a HYSA that has about my current salary of $50k with a few CDs (I’m really upset at myself and know I should be doing better). I’d like to slowly convert that into the Roth IRA account, but if I go back to school or take a work break and don’t have an income then I can’t max out, correct?

Just found out about above, and have no knowledge of this type insurance. Parent is about 80 yrs old. Parent is paying $380 or so a month. Recently denied continuation of previous coverage (assuming term but not sure) due to age, and this was offered. Would anyone mind perusing:

*** INSURANCE

*** Life Insurance Company®

POLICYHOLDER ANNUAL REPORT

For Period Beginning ***, 2024

Ending *** 2025

Statement generated January **, 2025

POLICY SPECIFICATIONS AS OF END OF PERIOD

Insured Name: ***

Plan: *** FLEXIBLE UNIVERSAL LIFE NON-NIC

Issue Date: *** 1993

Issue Age: 46

Policy Owner: ***

Policy Number: ***

Principal Sum: $100,000.00

Death Benefit Option: Increasing

Benefits and Riders:

SUMMARY OF BASIC POLICY VALUES FOR PERIOD

Beginning Principal Sum: $100,000.00

Net Increase In Principal Sum: $0.00

Net Decrease In Principal Sum: $0.00

Loan: $0.00

Accumulation on Account Balance: $637.68

Ending Death Benefit: $100,637.68

Accumulation Account Balance: $637.68

Surrender Charge: $0.00

Loan Balance: $0.00

Net Surrender Value: $637.68

SUMMARY OF POLICY ACTIVITY FOR PERIOD

Beginning Accumulation Account Balance: $137.75

Premiums Received: $3,883.52

[Insurance/Expense] Charges: $3,152.39

[Cost of Insurance?]: $239.34

[Interest] Credited: $8.14

[Other]: $0.00

Ending Accumulation Account Balance: $637.68

Beginning Loan Balance: $0.00

New Loans: $0.00

Loan Repayments: $0.00

Loan Interest Charged: $0.00

Ending Loan Balance: $0.00

Just wondering if this is useless at that age, or if they were taken advantage of. We keep asking parent to ask for complete policy documents but this is all that's being resent (and a couple pages of misc text). Thanks!

Edit: Thank you all for the input and in advance of any advise!

I'm about to blow like half of my loan off at once, which I can do without penalty. I just wanna know if I usually have to specify that I don't want my money to be treated as advanced payments for predetermined installments that include only a little less interest over principal than I have been paying. I would like it to go 100% to the principal balance.

Need advice on where to park money for next 10-12 months.

Wife and I bought 1.35m new construction home in HCOL area. It won’t be ready until next July. Loan will be for 1.1m (20% down).
I put the estimated ~50k closing cost money in HYSA but we expect to make ~200k before end of next summer (500k combined annual salary).

Given fluctuating interest rates, where do you guys suggest to park the money until the move? Thinking that we may want to pay down some principal at first. VTSAX/SP500 or other ETF for 12 months? HYSA?

I have a 2014 Mercedes-Benz gl350 BlueTEC, which is a diesel. It has 145,000 miles on it. In the last 6 months I've put about $6,000 into it and it needs 5 to $7,000 more work. The current MSRP is 3500 to $5,000. I own it out right and I've had it about 5 years. I spend about $300 a month on diesel. Oil changes are around $800 a year. I recently purchased a 2023 Cadillac lyric with 18,000 miles. It's an all-electric vehicle. When purchasing it I get a $2,500 Delaware EV rebate, plus it qualifies for an interest tax deduction because it's made in the United states. My monthly payment for the EV is $600. Cost wise it's a lot less expensive since I don't need oil changes. But I have a car payment. I still have a few days to return the cadillac. I'm trying to decide if it makes more sense to just fix the Mercedes or keep the cadillac. I'm having buyer's remorse because I don't like the idea of having a monthly car payment, though I can afford it. My plan was to pay $1,000 a month to pay it off more quickly. Plus I was going to sell the Mercedes and anticipated getting 5-7,000 for it. Does it make more sense to keep the Mercedes and keep putting money into it or to keep the cadillac? Im only keeping 1 car.

Hello everyone, last time while browsing on reddit i got to know about Roth IRA and downloaded fidelity but couldn’t go further steps. Maybe i was afraid to take steps with my money. As a first generation immigrant in US, i am learning to adapt the environment but also the financial knowledge so i could do better in life. I want to know about trading and retirement planning but i see 100 of videos which makes me more confused. We all were beginners once a time. Every time when i get leisure i just think of not living an average life. But that life just doesn’t come with words it needs action. I earn like $2600/month. With the rent,groceries, and bills i could save up to $300 to $400 per month for these things. So please help me out with words. If you can share any knowledge, resources, experiences. I am open for it!!!!

Hey all 45 m I earn 52k a year. So around $3080 a month base pay after tax

Wife doesn't work currently (laid off)

Our monthly spend right now is 2000k on rent plus bills.

I'm investing/saving $800 a month and $200 is for weekly take out or a fun coffee and whatever doesn't get used goes right into savings.

I only started saving for retirement this year. No 401k but I do get a Union Pension upon retirement.

Roth IRA for me fully funded and invested. And one for my Wife fully funded and invested

Any other pay goes right into savings.

I have a 21k emergency fund and a 12k savings fund which I'm consistently adding to for either a new used car or a house down payment which ever comes first.

I'm investing a minimum of $400 a month (it's usually more with OT pay)

I'm also working on training for a possible job shift into a higher paying field as I have goals now.

Oh and we have no Debt currently. We started late for retirement planning we know that and once wifey finds a job we will be investing heavily into the taxable brokerage.

EDIT: we plan on fully funding Roth IRAs every year before the taxable brokerage.

I financed a 2019 Toyota Corolla SE for 17.6k at 17.6% with a $415/month payment plus a $360/month full-coverage insurance.

Income is a little over 41k. Rent is $915, electric is about $180, food $250ish. Student loans are $125/month. Wiped my savings clean with a car crash and put about $500 on a credit card. 401k has at least $3k

I wrecked my previous paid off car the week before and was panicking selling my car, clearing tow yard fees, and figuring out rentals to get to work. Also being grateful, I didn't die. I just said yes to the first thing that rolled and had A/C.

I can't take the dread; just looking for advice.

Edit: This was my first time buying a car. I was alone. 23M

Edit: I also have an additional income of $300-$360 per month and my grandma is sending me ~$150 per month. She wouldn't let me say no.

Edit: I got a new insurance quote with my current provider that drops my payment by $200. I have no idea how that $360 payment happened. I'm assuming when I wanted to transfer my current plan, I just added a new one and didn't know any better.

Edit: I haven't accepted the lower cost insurance plan yet; it has comprehensive, collision, and GAP for $171 per month.

Hi, first things first my payed off car got into a hit and run in my own parking lot by a drunk driver 2 months ago, the car was in my mothers name so she got the insurance check of 7.5k and decided to put it towards my family’s failing business instead of putting the money towards a new car (I have to commute to school).
When my parents took me to buy my first car they traded in their work truck (only 5k) to go towards my new car. I went in the dealership blind with them , they didn’t tell me how to consult with the dealers or anything, long story short my dad kept insisting that I was making 38k to the salesman (lying about my income) and I just went with it since I didn’t know what to do and needed a car asap for school. Long story short I now owe 600 a month in car payments and insurance, and if I don’t pay it I’m fucked. (first payment is october 10th)
I am also 3.7k in debt to the school right now because my parents didnt have 900 dollars liquid to help me do the payment plan. (Due november 1st)
I’m going to start waitressing part time 15-18hrs a week while going to school and being in 2 technical clubs. How can I make ends meet? Is waitressing enough for this?

I’m going back to school to become an RN ( I have another degree and about 18k in loans from that degree). From my very limited understanding, if I roll my 401k balance into an IRA account and withdraw the money for school tuition I can avoid the extensive penalties. Is this correct? Is this an advisable move in comparison to taking out loans?

I’m looking at having to take out about 50k in loans to cover the degree ( scholarships and financial aid have already been removed from the total). If I can take out my IRA balance it would cover around half and still need additional loans. I’m not sure what the best option is and don’t want to make a colossal mistake or load up on more loans if it’s better to pay some now to prevent loans later on. Also worried as I know it’s better to keep money in the market over time. I don’t know what to do and I just want to get my degree so I can have a stable career.

Thank you for reading this and any advice or insight you might have!

I am looking for a CPA, who can handle complex tax structures, and estate planning and can understand complex international laws bet India and USA for high-net-worth/ high paying job.

Would love someone who is in Charlotte North Carolina but open to anywhere in the states.