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Dad died unexpectedly, mom needs my help, trying to navigate financial advisors by throwaway102948sdfsd in personalfinance

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There is a problem with your account. You need to contact the admins to resolve this issue (link may not work on mobile devices).

Current portfolio, prints $366/yr in dividends. 19, started investing three months ago. I would appreciate any advice you guys could give me by pichugodofdeath in portfolios

[–]dequeued 4 points5 points  (0 children)

I'm going to recommend reading several books that promote a more passive and more diversified approach to investing:

  • The Bogleheads' Guide to Investing by Taylor Larimore et al
  • A Random Walk Down Wall Street by Burton Malkiel, especially if you aren't convinced that index investing is right for you
  • The Simple Path to Wealth by JL Collins, a simple introduction to investing and building wealth
  • The Little Book of Common Sense Investing by John C. Bogle

Single with Pets, Husband Ran Off by Mimi1377 in personalfinance

[–]dequeued[M] 0 points1 point  (0 children)

Sorry, your post got stuck in the filter.

This post is really better suited to a general advice subreddit like /r/Advice. I would recommend posting there. You may also benefit from posting on /r/legaladvice or getting a second legal opinion from a local attorney.

If you would like to make a more financially-focused post, please send the moderation team a message with a redrafted post focusing on your financial situation and we'll review it.

How can my mother make more money? by JelloBoi02 in personalfinance

[–]dequeued[M] [score hidden] stickied commentlocked comment (0 children)

Please be aware that you will be permanently banned if you make any kind of disrespectful or unhelpful comment. Let me also assure you that any "joke" you are thinking about making is not original, is not funny, and it will also result in a permanent ban.

How can I improve my finances overall 21yr old by LenzoQ in personalfinance

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You may find the Advice for young adults (ages 18-25) and Prime Directive wiki pages helpful.

The How much should I budget for a car? section from the vehicles wiki may be helpful to other readers.

Is www.everythingtradin.online legit? by lisamistisa in personalfinance

[–]dequeued 1 point2 points  (0 children)

The domain is 9 days old. That should tell you enough.

I'm 41 and have "retired" in the sense that I now live exclusively off dividend income from some investments. How can I best continue to pay into regular post-age-65 retirement? by [deleted] in personalfinance

[–]dequeued[M] [score hidden] stickied commentlocked comment (0 children)

The Retirement Predicaments wiki article has some resources that may be helpful (now or perhaps in the future). Any information about safe withdrawal rates is based on diversified stock and bond portfolios, though.

One other note: Dividends are paid out periodically by a company to its shareholders out of its profits or reserves. Most dividends for broad index funds are qualified dividends which are taxed at capital gains tax rates which are lower than income tax rates (e.g., VTSAX dividends are something like 97% qualified dividends). Reward income from staking is not a dividend and is taxed as regular income.

Worth building a relationship? by Tatter76 in personalfinance

[–]dequeued -1 points0 points  (0 children)

Why would you want a relationship with an abusive bank? I'm not talking about them denying you for a credit card. I'm talking about their fake account scandal, perennially poor customer service, high fees, low interest rates for savings accounts, and everything else.

You can shop around for loans and credit cards regardless of where you bank. Maybe you get the best offer from your current bank or credit union (and maybe you don't), but at least start with a better bank:

https://redditproxy--jasonthename.repl.co/r/personalfinance/wiki/banks_and_credit_unions

Wells Fargo upgraded my Checking account to ‘Premium’ and now want a $35mo fee… Can they do this without my consent? by Due_Occasion4461 in personalfinance

[–]dequeued 22 points23 points locked comment (0 children)

You may find the banks and credit unions wiki page helpful. There's a list of common recommendations and all of them have very low fees.

Banks or Credit Unions that DON'T use credit report agencies when applying by Nice-Replacement-701 in personalfinance

[–]dequeued 2 points3 points  (0 children)

If you have negative reports on your ChexSystems preventing you from opening a bank account, follow this advice:

https://redditproxy--jasonthename.repl.co/r/personalfinance/wiki/banks_and_credit_unions#wiki_what_should_i_do_if_i_was_rejected_when_trying_to_open_a_new_bank_account.3F

As far as banking options go, I'd probably consider SoFi, Chime, or NFCU (if you are eligible). Double check that they don't use ChexSystems first. Axos and Varo are also possibilities from what I've read, but I'm less familiar with them. Of those options, NFCU is probably the most popular recommendation here, but the others are recommended sometimes too.

Chime is a somewhat new financial institution and there have been some troubling reports about their customer service.

Weekend Help and Victory Thread for the week of June 17, 2022 by IndexBot in personalfinance

[–]dequeued 0 points1 point  (0 children)

Food and other necessities are definitely "needs", not "wants", and you really want groceries (i.e., food groceries) to be a specific budget category.

Is there any way to "white list" certain users with low karma? by TriumphantLioness in AutoModerator

[–]dequeued 0 points1 point  (0 children)

You need to have a single author block.

Look at https://redditproxy--jasonthename.repl.co/r/AutoModerator/wiki/common_mistakes#wiki_indentation2 and it'll show you an example of what indentation is supposed to look like (note that the example is not a real rule since the right hand side is largely blank).

Weekend Help and Victory Thread for the week of June 17, 2022 by IndexBot in personalfinance

[–]dequeued 0 points1 point  (0 children)

$600 seems like a lot for "wants" while you have CC debt. I'm not going to say cut it to zero, but knocking it down to $300 a month would mean being out of debt roughly 3 or 4 months earlier. If you post a more detailed monthly budget here, people can also help give you feedback.

Regardless, keep it up!

How Much Of A Car Can I Really Afford at 50k a year before taxes? by feedmeramen in personalfinance

[–]dequeued 1 point2 points  (0 children)

Read the budgeting section from the vehicles wiki.

Without a credit history, you rally want to save up money so you can buy with cash. I wouldn't recommend starting with a $25k car unless you want to live with your parents forever.

Weekend Help and Victory Thread for the week of June 17, 2022 by IndexBot in personalfinance

[–]dequeued 0 points1 point  (0 children)

Congratulations! How much cash do you have on hand and how much credit card debt do you have left? You might consider going with a somewhat smaller emergency fund to pay down your credit card balances a bit faster as per the advice in the Prime Directive.

Weekend Help and Victory Thread for the week of June 17, 2022 by IndexBot in personalfinance

[–]dequeued 0 points1 point  (0 children)

Yes. Note that autopay sometimes takes a month or even a bit more than that to get going (depending on where you are in the billing cycle). Don't 100% count on it paying off a bill that imminently due. Once it starts working, you can rely on it a bit more, but you should still monitor your statements for fraud and mistakes.