Got a notice from my life ins co. I qualify for “Conversion!” So after a few minutes of research, I managed to figure out that “conversion” is the phrase of the day for “whole life”. I guess insurance salesmen are fed up with people knowing that “whole life” is a scam and are losing commissions – so they invented yet another term called “conversion”. “You can convert your term policy to a permanent policy…

Which mortgage loan? Ready to buy, first time buyer in high cost of living area. I’m a physician. Physician loan, 30 year fixed, 9.5%, no PMI Standard fixed, 30 year, 7%, PMI until I reach 20% of principle – would take me about 2 years Wait two years until I save the down payment, hope I’m not priced out Was also offered 7 year ARM, but I’m not comfortable with th…

Being frugal is impacting my mental health Hi, So I’m in my thirties and for the majority of my adult life, since I was about 23/24, I’ve been saving the majority of my income. I’ve not really missed out on much but probably the odd thing I haven’t done due to having to put a certain amount in my savings. I’d say the last 4/5 years it’s become a lot worse, I get really stressed if my sav…

How to start saving for retirement at 45 My husband and I are in our mid 40s and we have one child. Due to considerable health issues prior to having our child we have little savings (10k) and no retirement. All of that being said, my health is stable and we would like to catch up on our savings for retirement.My husband’s income is 150,000. We have no work benefits because he works fo…

My car is worth $3000. Is it worth putting $1700 for a car repair into a $3000 car? I have a 2013 Hyundai Elantra. With around 120k miles. My car starts to misfire at high speeds and the mechanic said I need a new catalytic converter. I only have about 6k in savings. My credit isn’t great(Mid 600s) so I don’t want to finance a car. It’s a good car reliability wise since I’ve had for 8 years but I don’t know if it’s a smart fina…

Saving from a young age. Does anybody else wish they started investing/saving money with there first job as a teenager. I reflect back and realized if I saved alittle here and there I would have wayyy more in my Roth 10-20 years later. submitted by /u/Beneficial_Union1625

inheritance/gift at 18 years old So long story short my grandma is moving into our house with us and is selling her paid off condo and splitting the what should be roughly $310000 three ways between my mom, uncle and me (as the favorite grandkid i guess) so i will be receiving roughly $100000 as a freshman in college. my family is financially fine but not to the point where 100…

What would you do? Early 20s and scared to invest, scared to not invest About me: -Early 20s -College degree -Living abroad on a stipend, no idea if going to stay abroad, final career path, etc. The finances: -17k in high yield savings -10k in Treasury bond -18k in checking -10k in CD which matures in March -A couple thousand in euros saved up from monthly stipend The situation: Scared to invest because it’s overwhe…

Should I give up my supervisor job to make more money as a worker? I currently work 8 hour shifts as a supervisor making around $60,000 but if I return to floor as a worker doing 12 hour shifts I can easily make $80,000 plus with overtime. About half of the employees on the floor are making more money than me now. I’m thinking about going back to the floor , what should I do? 🙄 Thanks submitted by /u/wi…

My sister claims an inheritance was deposited into her bank account by mistake. She and the person it was supposed to go to have the same name though they have different birthdays and different middle initials. Can this happen without her knowing about this inheritance beforehand? submitted by /u/Throw-Away7749

Buy out my car or pay 5.29% I’m trading in my car for an electric and have the choice to pay out $33000 cash or finance at 5.29%. My inclination is to pay it out to save the interest but it’ll clear out most of my savings. I’m also concerned about the impacts of potential tariffs on cost of living as well. I think my job is pretty secure but anything can happen. Thoughts? …

23 Years Old, Earning £55k—Feeling Overwhelmed and Unsure About What to Do Next I’m 23 years old, living with my parents, and just started a job that pays me about £60,000 a year, including allowances. This is the highest salary anyone in my family has ever earned, and I feel really proud, but also a bit overwhelmed. My expenses are relatively low—rent and food cost me about £350/month since I live at home. I also have an e…

rule of 55, SEPP, roth conversions, medicare…. My parents are not sure how much longer they can keep up with their jobs and are starting to talk retirement/early-retirement/semi-retirement. I’ve been looking into some more detailed particulars to see how it might work. They have the assets to do it, but I’m to confirm a few questions related to the retirement accounts. The rule of 55. As I …

Financial literacy plan So I’m 18 and I’ve never had any knowledge related to money. Not even the basics. When I say I’m a beginner i really mean it cuz I know NOTHING. I’m moving to uni this year and I wanna learn about making and managing money plus all those scary terms i saw on here like investing Roth IRA and what not. So here’s a little plan i made to start lear…

Pay credit on salary Is it bad to pay your credit card in full twice a month the day you get payed? submitted by /u/davidblack210

Should I contribute to my Roth IRA I currently have a Roth account with Schwab as last year I was able to contribute a small amount (1k?) but this year I’m over the income limit. I heard about the backdoor Roth IRA recently but I’m not sure if it’s something I can do myself or it has to be offered by my company. I’m also not certain if it’s worth doing. I’m 26 with around 300k sa…

Best SUV for family of 5 on a budget? Thinking about purchasing a replacement SUV in the next few months – looking for ideas for a good combination of value, reliability and safety. Looking to spend around 25-30k for a used SUV We currently have a 2012 Honda Pilot (190k miles) and 2004 Acura MDX (200k miles). Both vehicles are running fairly well, but I plan to replace the MDX in th…

Just bought a car wanna know Hi so I made the mistake of buying a car with bad credit even tho i had a co-signer but before i make an even bigger mistake & keep the loan I have 7 days to go get my car back. My APR is 23.17%, Finance charge 26k, amount financed 30k, total of payments/ total sale price 57k. If I decide to refinance in a year, will I need to refinance the tota…

Remote 1099 tax filing for multiple states help I have a solid grasp on doing taxes. This is the first year with a remote business. Ins and outs: Military spouse, state of residence is Fl, stationed in NC. My 1099s have 3 states listed as amts made from those states, NC, ME, VA. Do I simply file as out of state resident for those 3 states? (Fl not necessary.) Do I not file any of the states?…

Getting divorced, poured everything into a house now getting a check to leave. So I’m in the middles of a divorce and have been contemplating what to do with the splitting of assets. I have a nice 401k and a little savings. I’m wondering if it will just be smarter to take the money I receive from selling our house, which is a couple of months away, and put it into an investment fund. Something like one of the fidelity fund…