ghostguy123
Footballguy
So what sort of impact would negative balances have on credit, if any? Say you had a negative balance all the time, what's the effect??
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Personal Finance Advice and Education! (2 Viewers)
- Thread starter No. 16
- Start date
-OZ-
Footballguy
Really wish I had thought about all this over a year ago, before our two week trip to China. We'll go back in 5-10 years, probably closer to 10.
-OZ-
Footballguy
Buck Bradcanon
Footballguy
Got my annual bonus today, fam!
Net to cash was over what I expected due to the change in tax withholdings. Thanks Trump? (I still hope he gets JFK'ed but thanks for the extra scrilla I guess).
Net to cash was over what I expected due to the change in tax withholdings. Thanks Trump? (I still hope he gets JFK'ed but thanks for the extra scrilla I guess).
culdeus
Footballguy
To get the premium cards you need:
- Credit limit not in excess of 50% of your income
- Average Age of Account needs to be something that isn't <1 but this is a soft limit and often overlooked.
- No charge offs or basically any dings at all in the last 2-3 years.
- Want to show a consistent utilization.
- If you are marginal for low income it is not the worst idea to show near 0 utilization for 2 months leading into a premium card app.
- You can use that time to lower credit limits on products you don't use anymore, especially at banks you are targeting.
shady inc
Footballguy
410k question. I left my previous employer in January 2018. I submitted paperwork to have my 401k funds rolled over from the company plan to a personal IRA at fidelity (employer 401k plan was NOT at fidelity). Former employer is saying I can't rollover ANY funds until 2019 with the reason being I left in 2018. Does this sound right?
I could see if the small profit sharing portion (which I'm 100% vested btw) couldn't be rolled over until the new plan year, but can they really keep what I contributed until 2019?
I could see if the small profit sharing portion (which I'm 100% vested btw) couldn't be rolled over until the new plan year, but can they really keep what I contributed until 2019?
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Chadstroma
Footballguy
I left last employer in mid 2017 and rolled everything over to Fidelity IRA a couple months later. I'm not aware of any reasons why you would be unable to rollover but I wouldn't say I am talking from an area of expertise. The only thing I can think of is that there might something within their plan that doesn't allow for it but like I said, that is a new one to me.
Chadstroma
Footballguy
Which is why CC companies no longer will allow you to buy the cryptocurrencies via CC.chet said:
Don't Noonan
Footballguy
This doesn't sound right to me as the only reason I can think of is if it is not vested for some reason. I would just ask them why you can't roll it all over.
shady inc
Footballguy
It is 18k of my contribution and 3k of their profit sharing contrib (which is 100% vested as soon as it's made). I've asked for a copy of the plan docs showing where it says I have to wait almost a full year to get the rollover processed. Thanks for the tip
lumpy19
Footballguy
I need to dig into this, I churn on my current cards by depositing at sports books(no fees), withdraw to crypto and then back to bank account.
shady inc
Footballguy
Update: the plan docs read as follows -
Payment of your vested Account may start as soon as administratively feasible following the end of the Plan Year, after all contributions have been allocated relating to the Plan Year in which Termination of Employment occurred for reasons other than retirement or disability.
The way I read that, it seems like 2019 is indeed the earliest I can do a rollover. That seems really stupid though...
Payment of your vested Account may start as soon as administratively feasible following the end of the Plan Year, after all contributions have been allocated relating to the Plan Year in which Termination of Employment occurred for reasons other than retirement or disability.
The way I read that, it seems like 2019 is indeed the earliest I can do a rollover. That seems really stupid though...
matttyl
Footballguy
shady inc
Footballguy
They're saying I CANNOT roll over ANYTHING until 2019. And that's what I don't understand. Why i can't at least rollover what I contributed
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NutterButter
Footballguy
Sleep with the head of HR
Keep your arms and legs in the vehicle at all times. The last time I bought AMZN was two years ago and its only up 165.2% over that period.
Bossman
Footballguy
Dang. If I got in when you did 2 years ago, I'd only be up $13k right now. Let me know if you find any good stocks.
I'll be the first to admit ... I know close to nothing about stocks.
What I do know is that Amazon is the leader in online shopping. I read somewhere that 1/2 of all households in the US have an Amazon Prime account.
It's just a matter of time before the other half get on board. Also, Amazon is just getting it's feet wet in having it's own shipping ... more profit.
I'll probably pick up some more AMZN stock at some point in the near future. My confidence is probably too high but I just don't see how they can fail.
Bossman
Footballguy
How many credit cards does your dog have now?
... and should you be concerned at all about his credit?
Regarding the bold is that because you didn't have 20K two years ago? Because the math says if you invested 20K two years ago it would be worth 53K right now.
I'm not the guy to ask about stocks either. I try to be diversified like the pros say, but, the problem with that is when AMZN or other stocks out perform everything else they become a bigger percentage of your portfolio. To stay diversified you would have to sell off some of those and I'm not ready to do that any time soon. I have some AMZN I bought 7 years ago and it's gained 740%. That's 100+% return on average per year sustained for a good amount of time. WTF would I want to sell that? Maybe closer to retirement or if I see the company changing drastically. But AMZN isn't going anywhere soon, they're trying to take over the world.
I just try to find companies I believe in, use and see a big future for. Mostly tech stocks. Then reevaluate each year.
wilked
Footballguy
You might consider keeping this insider info to yourself... lot of eyes and ears out there
-OZ-
Footballguy
ex-ghost
Footballguy
It had turned into a bit of an addiction, but I see the fruits of my labor. As a family we did not travel much, but when I all of a sudden have 4 free round-trip tickets to Europe staring me in the face it was hard to stop. That led to applying to Barclay Arrival Plus (wife and I) which gets you $400+ travel statement credit which I used on Airbnb and then Capital One which was $500 credits (x2) and all of a sudden my lodging for a three week trip in Italy was 2/3 covered. Because I planned so far in advance we were able to cancel the Barclay card and apply AGAIN for the card to get the statement credits to cover trains, tours and a boat trip.
Even in the past two years churning has changed and it is not as easy to get cards again, like the Barclay Arrival Plus. I feel that Italy trip was the peak - now that I have so many cards I am starting to get denied from certain credit card companies. Oh well, part of the game.
Bossman
Footballguy
uh oh ... 12 FootballGuys gonna drive up the cost of AMZN.
I'm half hoping someone in here can talk me out of buying more.
Now what really peaks my interest is Pork Bellies. Who doesn't like bacon ... amiright?
Bob Sacamano
Footballguy
How do you spell that?
A-m-a-z...?
A-m-a-z...?
Sand
Footballguy
Binky The Doormat
Footballguy
oh snap.
dschuler
Footballguy
I’ve been in awe of $AMZN over the last few years. It has a P/E of like 250. $AAPL is less than 20, $FB is around 30. I get the appeal, but at some point it has to come crashing down right? Reminds me similar of the tech bubble crash when Microsoft Intel Cisco and Dell were the four horsemen.
Then you see smart guys like Bill Miller, Cuban, and everyone on CNBC take positions in $AMZN and it makes me rethink it.
dgreen
Footballguy
I have a 5/1 ARM that starts adjusting this Summer. I've been loving my 2.375% rate the last five years. It was great to give me a low payment and pay down some principal. Also, about 5 years ago, I think we had thoughts of moving but I don't see that happening for a while. So, I assume the suggestion is that I should refinance to a fixed rate ASAP?
-OZ-
Footballguy
Anticipated tax of $0
15 exemptions
oorhouse:yes. That's a great rate but expect it to double.
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RUSF18
Footballguy
I know it's been discussed in this thread but searching a word like "will" isn't very helpful.
Can someone let me know what I should expect to pay for a lawyer to draft and execute a will for my wife and I? We live in New Jersey, have one child who we'd like to name a guardian (and backup) for in case something happens to us, we own no real estate, and all our real assets are in cash or basic stuff in brokerage accounts.
My follow up would be...if/when we have a second child, would we need to basically pay the whole thing over again?
Trying to decide if a DIY type option is sufficient for us for now, and then go with a pro a few years down the road when there's a second child, we have a house, etc. Thanks.
Can someone let me know what I should expect to pay for a lawyer to draft and execute a will for my wife and I? We live in New Jersey, have one child who we'd like to name a guardian (and backup) for in case something happens to us, we own no real estate, and all our real assets are in cash or basic stuff in brokerage accounts.
My follow up would be...if/when we have a second child, would we need to basically pay the whole thing over again?
Trying to decide if a DIY type option is sufficient for us for now, and then go with a pro a few years down the road when there's a second child, we have a house, etc. Thanks.
Chemical X
Footballguy
you might be able to do this yourself..........from a time perspective, shouldn’t be more than 2 hours work for an attorney. that said, a lot of companies over legal coverage now. my wife has it and we did our will for free. maybe see if you guys have that option for next election.
i may have a template floating around that i just used last year......pm me your email and let me see if i can dig it up.
RUSF18
Footballguy
I know it's a risk, but I think the major DIY sites tailor everything to your state and have a "review process" you can throw a couple extra bucks at.
RUSF18
Footballguy
Just to provide a bit more background on this...I just need something as simple as possible because my wife and I will be taking our first real vacation out of the country and away from our daughter pretty soon, and just in case something happens to us, I want the guardian stuff ironed out.
Have no problem dropping an appropriate amount of money on an update as our situation/finances get more complicated down the road - my thought was that seems like overkill at this point but I'm open to listening.
Have no problem dropping an appropriate amount of money on an update as our situation/finances get more complicated down the road - my thought was that seems like overkill at this point but I'm open to listening.
some states are way more complicated than others. Don't just assume legal zoom will band aid it.
CR69
Footballguy
Most estate planning attorneys I know do wills for below cost as a sort of loss leader to build relationships that hopefully lead to more extensive planning down the road. I would go that route and when you have enough money set up everything in a trust unless you want your heirs arguing about who gets what in probate after you die. Maybe Oregon is just weird though?
-OZ-
Footballguy
Have any of you used lending club? For either investing or borrowing?
One review
It seems to be exactly what I'm looking for, higher risk and rewards than bonds but less risk if diversified than the stock market for 3-5 years. The return isn't fantastic, but 5-8% seems fair.
We're looking for the best balance of risk and safety for around 3 years as we save up for the down payment on a lake house. If we lose a little it's not really going to hurt but I want more than bonds or CDs will give. Our retirement accounts are slightly over 75% in stock already so looking to diversify a little more here.
One review
It seems to be exactly what I'm looking for, higher risk and rewards than bonds but less risk if diversified than the stock market for 3-5 years. The return isn't fantastic, but 5-8% seems fair.
We're looking for the best balance of risk and safety for around 3 years as we save up for the down payment on a lake house. If we lose a little it's not really going to hurt but I want more than bonds or CDs will give. Our retirement accounts are slightly over 75% in stock already so looking to diversify a little more here.
brun
Footballguy
I used another peer to peer lending site, Prosper.com, a few years ago. The main difference was that you bid on the loans you wanted to invest in rather than take an interest rate assigned by the site.
Too many defaults and a net loss for me. I found that the credit profiles (the lending club criteria sounds pretty much the same) were not an accurate enough predictor of success. Probably a better predictor is just fact that a borrower is willing to accept the higher interest rates of the site.
Assuming they have one, you might want to visit their forum site, or an independent one if you can find it, to get a better feel for the investor experience.
Good luck!
-OZ-
Footballguy
Thanks. I'll dig into that later but a quick view shows around 8%? Defaults and crap sure.
Gawain
Footballguy
-OZ-
Footballguy
Gotcha. So basically the same as bonds.
I might just go with a 50/50 mix of VTI and BND (or similar)
Sand
Footballguy
My worry with this is that it's passable in boom times (like now). If we turn south (inevitable at some point), the returns here will drop dramatically. Like a cliff.
The risk/reward ratio on this just seems to be tilted negative. Completely IMO.
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-OZ-
Footballguy
That's probably true. I'm still not completely diswayed, but I'm more skeptical after digging a little more.
Rattle and Hum
Footballguy
If you can broaden your time horizon to 3-5 yrs you may wish to investigate Fundrise... a real estate crowdfunding portal.
