#Business

Is it worth paying off a collection debt?

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Is it worth paying off a collection debt? I have an American Express debt that was originally $1108.00. I was like 20 or 21 when I (stupidly) let this debt go to collections. I am receiving email offers now stating I can resolve the entire account for 1 payment of $330.00. I’m tempted, but not sure if it’s worth it…. ? I’ve been told doing this can lead to more harm than good but I’m tr…

Reddit Personal Finance 1.1k 2025-01-21

New employer does Simple IRA through Edward Jones

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New employer does Simple IRA through Edward Jones Hi all, my new employer’s retirement plan is a Simple IRA through Edward Jones with a 3% match. The account is managed by a financial advisor. I would assume they do take commissions, however when I asked my employer about this he said that the company pays for whatever fees/commissions. I’m just wondering if anyone’s heard of something like thi…

Reddit Personal Finance 872 2025-01-21

Drowning in decisions

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Drowning in decisions Making good money – drowning in all the possible decisions I (28f) am currently working a job I love and making very good money in a VHCOL city. I save/invest and have educated myself but still feel like I may be making the wrong (or suboptimal) choices. Hoping to get some advice. Currently: TC: 246k between salary, bonus, equity (have been wor…

Reddit Personal Finance 1.0k 2025-01-21

So far behind – need advice to catch up (late 30s)

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So far behind – need advice to catch up (late 30s) I had a terrible relationship with money until my mid 30s. At 36, I found myself in 50k of credit card debt from gambling addiction and nothing to my name. I got my act together the last few years and now have 0 debt, 8 months emergency fund, but only 50k in my 401k. I’m 39. I dont own any property, but I have the ability to save ~$2,000 per mon…

Reddit Personal Finance 1.1k 2025-01-21

Unable to dent card debt

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Unable to dent card debt Okay, I get it. My poor decisions put me in this spot. I racked up $25,000 in credit card debt over several cards plus $4000 left in vehicle. Credit history of 8 years with 0 missed payments. 687 credit score after the 3rd loan attempt. I haven’t used my cards in about a year now but I legitimately can’t pay off balances. I make $4200/month but …

Reddit Personal Finance 880 2025-01-21

Offer for 95k after graduation and need advice

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Offer for 95k after graduation and need advice Long story short I’m 27 y/o and just barely graduated with my undergraduate degree after dropping out years ago. Super late to the game, but I’m blessed and grateful to receive an offer after graduation with base pay of 95k at one of the major banks in the U.S. I come from a first generation family and I’m the first one to ever graduate, so I’m …

Reddit Personal Finance 926 2025-01-21

Should I move out or stay home?

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Should I move out or stay home? I’m a 23F who lives at home right now, making about 55k right now.. will be promoted in the next couple of months so will make closer to 65k. Debating on moving out to my own place for a sense of independence and to make my own decisions. I went through college living at home, never experienced space away from my home. I have no student loan deb…

Reddit Personal Finance 453 2025-01-21

Best advice for how to handle my money?

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Best advice for how to handle my money? I’m 23 and wondering what’s the best way to maximize my passive income or whatever, I’m not very knowledgeable in this stuff. I have a ROTH, I have 7500 in that and put $50 a month in because I’m not making much while in college, I have a 4.5% interest savings account with 5400 in that, and 7500 in checking account, should I be putting more of m…

Reddit Personal Finance 1.1k 2025-01-21

merchant does not want to refund me even though services were not received

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merchant does not want to refund me even though services were not received a few days ago i booked with a trainer & paid full price before the actual day of training. The original time to meet was 9:00am for saturday, after i sent the money the trainer ask me if i can do 3:00pm for the same day which i agreed. A couple hours later he tries to reschedule me again for another day ( sunday) i tell him i cannot do it since…

Reddit Personal Finance 548 2025-01-21

I’m 29 and just opened a Roth IRA with Schwab any advice is appreciated.

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I’m 29 and just opened a Roth IRA with Schwab any advice is appreciated. Like the title says I’m 29 and just opened a Roth IRA with Schwab. I know some basics, I plan to contribute as much as I can to 2024 before the April deadline and should be on track to max out the $7000 every year by contributing weekly. Any advice on what to invest in and how to split it is greatly appreciated thanks! submitted by /u/Lur…

Reddit Personal Finance 339 2025-01-21

Pay off Mortgage or Invest in Stocks?

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Pay off Mortgage or Invest in Stocks? So I just hit a $60k gambling win, and I’m torn on what to do with it. Should I throw it at my mortgage, invest it, or do something else entirely? Looking for advice. Here’s my situation: Liabilities: $150k left on my mortgage (3.2% fixed), no other debt Income: ~$75k/year Assets: $30k in savings, $50k in retirement accounts, and the house (wor…

Reddit Personal Finance 541 2025-01-21

Just moved from Canada to USA for work. What’s the best way to invest and save my money?

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Just moved from Canada to USA for work. What’s the best way to invest and save my money? Hi, I am 23 years old and just moved from Canada to the USA for work. I somewhat understand the different tax shelter accounts available here and I am looking for some advice on how to best invest my money. My main concern is striking a balance between investing in my 401(k) and a brokerage account. Income details: Base income: ~$150,000 (take …

Reddit Personal Finance 699 2025-01-21

What’s mathematically the best way to buy a car?

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What’s mathematically the best way to buy a car? I’ve seen plenty of posts of what NOT to do, but I haven’t seen much about what the best way to purchase a car is. From what I can tell it’s some combination of the following things: – buy a car that’s 3-5 years old with relatively low miles on it – purchase cash only if you can – use your old car for as long as possible What else should be on t…

Reddit Personal Finance 553 2025-01-21

Will DCAP limit ever be increased?

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Will DCAP limit ever be increased? As is the case for many families, the cost of childcare to enable both me and my spouse to work is incredibly high. After taxes one of our incomes is essentially equivalent to the cost of sending our 3 kids to daycare. My partner will likely stop working for the next few years. It’s disheartening because both of us find our careers meaningful an…

Reddit Personal Finance 475 2025-01-21

To add to principal or not to add to principal?

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To add to principal or not to add to principal? That is the question. A little about me: I am getting somewhat close to paying off my home mortgage. My mortgage principal paid each month is currently $400. I have been putting in an extra $400 principal for a year or two now, trying to drive down how much interest I have yet to pay. My loan is a conventional 15-year loan at 2.375% interest. Th…

Reddit Personal Finance 525 2025-01-21

Buying first car- what to expect?

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Buying first car- what to expect? Hi! I’m looking to buy my first car and am hitting a roadblock on what realistically to expect in a car payment. I’m 19, I work a secured good paying job, (65,000 a year), and have a credit score of 695. The car I’m interested in is a 2019 VW Jetta that’s priced about $12,500 and I’m looking to put a down payment on it for around $3-4k. I do l…

Reddit Personal Finance 1.1k 2025-01-21