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#retirementplanning

129 posts10 participants18 posts today
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BOCVIP

Return to office may increase expenses by $2500/month; seeking advice on making ends meet. bocvip.com/801214/return-to-of #PersonalFinance #RetirementPlanning

BOCVIP · Return to office may increase expenses by $2500/month; seeking advice on making ends meet.For context, I was originally hired as a fully remote employee a few years ago. Starting next year, they're making office attendance mandatory at 5 days a week, with extra measures put in place to ensure employees actually stay in the office 8 hours each day (badge swiping upon entry AND exit). I don't think I can live through the mental toll of having to endure a 90-mile 3+ hour round trip commute, 5 days a week. Option 1 is to look for a different employer with a shorter commute, but that would mean I'd have to accept a ~$30K+
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BOCVIP

I live with an unmanaged person who has schizophrenia and I only have 20k saved up to move out and no job (layed off) bocvip.com/801141/i-live-with- #PersonalFinance #RetirementPlanning

BOCVIP · I live with an unmanaged person who has schizophrenia and I only have 20k saved up to move out and no job (layed off)I am 23 years old and I currently lost my job about 2 weeks ago, I have been applying to jobs, but nothing. I started a new hustle that seems promising but I’m not gonna mention it since it’s new. I live with a brother who Is schizophrenic, he talks to his voices all day everyday, he is just not okay, he yells at the voices, he tries to intimidate me almost slapping me. I honestly get scared of him. I have been living with him for over a decade like this, but this time around I just can’t stand
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BOCVIP

Morgan Stanley charged me 1.4% to transfer my 401k to another bank. bocvip.com/801070/morgan-stanl #PersonalFinance #RetirementPlanning

BOCVIP · Morgan Stanley charged me 1.4% to transfer my 401k to another bank.The absolute WORST experience I've ever had with a 401k from start to finish with Morgan Stanley. Every step was like pulling teeth, from charging fees to make the initial investment as it comes from your paycheck (unless you write them an email requesting they waive the fee, and they decide to) to charging me 1.4% just to get my money out of there now that i'm no longer with that employer. Look elsewhere if you can.https://www.reddit.com/r/personalfinance/comments/1jgm8nf/morgan_stanley_charged_me_14_to_transfer_my_401k/Posted by bigguismalls
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BOCVIP

Weekend Help and Victory Thread for the week of March 21, 2025 bocvip.com/800997/weekend-help #PersonalFinance #RetirementPlanning

BOCVIP · Weekend Help and Victory Thread for the week of March 21, 2025If you need help, please check the PF Wiki to see if your question might be answered there. This thread is for personal finance questions, discussions, and sharing your success stories: Please make a top-level comment if you want to ask a question! Also, please don't downvote 'moronic' questions! If you have not received your answer within 24 hours, please feel free to start a discussion. Make a top-level comment if you want to share something positive regarding your personal finances! A big thank you to the many PFers who take time to answer other people's questions! https://www.reddit.com/r/personalfinance/comments/1jglob0/weekend_help_and_victory_thread_for_the_week_of/ Posted by
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BOCVIP

Is the Transfer upon Death (TOD) the way to go for most simple assets? bocvip.com/800586/is-the-trans #PersonalFinance #RetirementPlanning

BOCVIP · Is the Transfer upon Death (TOD) the way to go for most simple assets?I have never been married and don’t have children. For every bank, 401K, and stock market accounts, I have a TOD setup to distribute to my parents and a sibling. Should I do a TOD on my house mortgage and name my sibling instead of putting him on the deed (to avoid losing the step up cost basis)? I have only 10 years of mortgage left on the house. If I do the TOD, do I need a lawyer or can just go to the county office? This is for those living in the USA.https://www.reddit.com/r/personalfinance/comments/1jgc1cm/is_the_transfer_upon_death_tod_the_way_to_go_for/Posted by throwaway_2021now
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BOCVIP

tap into brokerage or mega back door roth contributions for a house purchase? bocvip.com/800526/tap-into-bro #PersonalFinance #RetirementPlanning

BOCVIP · tap into brokerage or mega back door roth contributions for a house purchase?I'd like to buy a house that's above what I can afford wrt my gross income and cash downpayment. However, I have been diligently maxing out my 401k (to ~65-70k) every year for the past 5 years since my company offers a mega back door roth where every after tax contribution is automatically converted to roth. If I understand it correctly, this means that I can take my contributions out at any time tax and penalty free with no pro-rata rule. My after tax roth converted contributions are around $144k As well, I have a brokerage acct with M1 that's
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BOCVIP

$800 in medical debt, around $200 each provider, it cant be reported to credit bureau, and doubt any provider/collector will sue me for $200, should I just not pay for 4 years(CA SOL)? bocvip.com/800467/800-in-medic #PersonalFinance #RetirementPlanning

BOCVIP · $800 in medical debt, around $200 each provider, it cant be reported to credit bureau, and doubt any provider/collector will sue me for $200, should I just not pay for 4 years(CA SOL)?The new law is that medical debt cannot be reported to the credit bureau unless the bill is $500 or more and unpaid for over a year. I owe around 4 providers $200 ish each. Each ranging from 1-2 years unpaid. Before u try to say im a terrible person for not paying and i should be responsible, its because my old work said they cancelled my health insurance after I stopped working there but didnt for 6 months after. So i got coordination of benefitted and my new ins. provider(not through an employer) refused to pay, citing that the
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BOCVIP

Stuck at the Airport Because of a $15 Payment – Should I Switch Banks? bocvip.com/800280/stuck-at-the #PersonalFinance #RetirementPlanning

BOCVIP · Stuck at the Airport Because of a $15 Payment – Should I Switch Banks?I’ve been with Bank of America for over a decade—my only bank. I have a credit card with them, set up on autopay to pay in full every time I get paid. The minimum payment was just $15, but apparently, I missed it. My closing date was yesterday, and BOA suspended my card for a past-due payment. I didn’t even realize it until today, when I paid the full balance immediately. The problem? I’m traveling. I had a rental car reservation, got to the airport, and my card was declined. Called BOA, and they told me I have to wait
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BOCVIP

Do your parents depend on Social Security and Medicare? Familiarize yourself with filial responsibility laws bocvip.com/800147/do-your-pare #PersonalFinance #RetirementPlanning

BOCVIP · Do your parents depend on Social Security and Medicare? Familiarize yourself with filial responsibility laws30 states in the US have filial responsibility laws, which basically state that adult children are legally bound to financially support their parents, particularly for healthcare or long-term care, if the parents are unable to afford it. 'If you live in a filial state, you can be forced to pay your parents’ medical bills ⁠— and that applies even if your parents are estranged and you didn’t play a role in their medical decision-making.' All these changes coming down the pipeline for Social Security and Medicare are going to have a reverberating impact in more ways than people realize. No company is
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BOCVIP

My brother paid me back money I lent him and wants to add interest too. How would I calculate that? bocvip.com/800079/my-brother-p #PersonalFinance #RetirementPlanning

BOCVIP · My brother paid me back money I lent him and wants to add interest too. How would I calculate that?My brother paid me back after 9 years. It wasn’t a huge amount and in my mind not even a loan/money I counted on getting back. He’s insisting on giving me something additional to account for interest to make me whole. I told him not to worry about it but he says he wants to be fair to pay back what that amount would have grown to for me after 9 years. I have no clue?? It would depend on the savings vehicle/investment, rate of return/interest, compounded (daily, monthly, yearly?), right? I suck at understanding all that stuff 😫. Is
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BOCVIP

Should I sell my barely used Volvo and downsize to get rid of the payments? bocvip.com/800008/should-i-sel #PersonalFinance #RetirementPlanning

BOCVIP · Should I sell my barely used Volvo and downsize to get rid of the payments?I have a 2024 Volvo XC60 with 12,000 miles that I bought 3 months ago for $32,000 out the door (got a good deal). My loan balance is currently $27,300 at 5.8% interest, with a monthly payment of $520 plus $110 for insurance. I work out of state on a 3 weeks on / 3 weeks off schedule and take home around $125k annually after taxes, health insurance, and 401k. Since getting the car, I’ve only driven 650 miles in 3 months. Lately, I can’t shake the feeling that I’m just paying a monthly subscription for something I barely use.
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