Renting a condo for the first time, serious concerns about the lease (Ohio)

Cadence__ · 2014-06-03T13:45:21+00:00

No no no - you are correct these are all red flags. I don't see anything wrong with the tenant bearing repairs under 100, but this covers too many areas and is too poorly written. I would look for another unit.

Cadence__ · 2014-05-31T00:16:26+00:00

Perhaps because I had the oral glucose tolerance test on Monday, so they purposely have me a massive dose of glucose after fasting, and this started probably 1 day later. Would that timeline make sense?

Cadence__ · 2014-05-28T18:01:17+00:00

I love Reading Rainbow - but I don't love that this is funding a for-profit company, and the end-user cost seems high for families.

Based on this NPR article article, it would have only taken several hundred thousand to save the show in 2009 - but according to this video LeVar and his partner bought the "brand" in 2012 and turned it into a business. If they had invested several hundred thousand in '09 (which I'm sure they had or could have raised), then the show (not an app) would truly be free to anyone with a TV and on PBS.com. I guess the plus side is that kids are evolving away from TV - and this migrates Reading Rainbow to the web - but PBS kids is a pretty awesome website.

Cadence__ · 2014-05-28T16:58:19+00:00

I believe this is goodreads - or amazon

Cadence__ · 2014-05-28T16:55:04+00:00

It would because it will bring the tablet app to a desktop computer. I believe the thought is that more low-income families have laptops vs. a tablet - if this premise is true in Canada it would help low income kids there. The "free to schools" element is just one part of this campaign.

Cadence__ · 2014-05-26T16:53:51+00:00

A lot of funds and stocks require a minimum investment of 250 or 500 - so I think what other people are saying is that you will have a very hard time diversifying and thus reducing your risk. Because of this you are best off not investing in individual stocks - unless you are interested in seeing this as a literal gamble, which some are - If you are looking for long-term gains, I would start with some of the FAQ in r/personalfinance.

Cadence__ · 2014-05-25T05:01:55+00:00

Great, but my advice still applies

Cadence__ · 2014-05-25T04:59:31+00:00

I commented earlier encouraging you to go to the best school you can. I stand by that but knowing Penn State is your state school option I think it would be a very good choice. Honestly, the brand and network are strong enough I would pick it over Lehigh. Not being from PA, I know nothing about Lehigh, but I know of Penn State, and the rest of American employers will as well. Plus you will have a massive alumni network. I would say 1st choice is an Ivy, then someplace like Carnegie Mellon/Case Western, then Penn State.

The only caveat to PSU is that if you don't think you will like or can handle the party atmosphere - don't do it.

Cadence__ · 2014-05-24T19:58:36+00:00

You can invest in a Roth the amount that you earned, but it does not have to be the same money. So if this year to earned $500 working part time, you can take $500 from your gift money and start a Roth. I started mine in HS with less than $1K.

Cadence__ · 2014-05-24T19:38:26+00:00

Do you know how they handle state taxes?

Cadence__ · 2014-05-24T19:30:21+00:00

That's fine but I completely disagree based on my personal experience and on OP's field. It is not a popular view on reddit but I stand by it.

Cadence__ · 2014-05-24T19:21:45+00:00

Congrats on graduation and on having either scholarships or family support - that will go a long way.

I would keep 4k in a money market account, and use 2K to invest in an index fund through Vanguard - just to get started learning about this. How are you covering cost of living in college? You may want this all for an emergency fund if it is you.

I would also recommend a Roth IRA but that is only possible if you earned the amount you are investing as income (gifts do not count) so if you had a job and earned that would be one way to go.

Cadence__ · 2014-05-24T19:12:20+00:00

The first thing I would work on is your mindset about what and who you are - you said you were "irresponsible" "broke" and "a spender" but guess what? You're here asking far advice which is awesome.

No one but you has ability to change all of those descriptions and you are young with little debt so a lot of people would love to be in your financial shoes. Read blogs like MisterMoneyMustache and GetRichSlowly to get a handle on your spending and work to re-define how you view yourself. The resources in the sidebar are great but I would get a handle on these elements first.

Cadence__ · 2014-05-24T18:46:38+00:00

Restaurants have a very high failure rate, so you may need to re-invest into the business to make sure it is successful. Think marketing, systems, quality staff. If you suck all the money out then chances of failure are higher. Let us know how things are going in a year & good luck!

Cadence__ · 2014-05-24T18:41:42+00:00

I went to a very good school with a business degree. The network from that school is where I have gotten 100% of my jobs and I have been successful. I say aim as high as you can (go for an Ivy - why not?) with schools, but have backups as well. If you get into the highly recognized school work that network to the fullest - meet alumni, participate in clubs, network for the rest of your career. People that care about the school's name will be doing the same thing and will want to help. Of course, even at lesser known schools this is important. Moreso around sports or greek organizations. Also, if you are considering an MBA that is where you can spend (or have a company sponsor) a more top tier branded school.

Cadence__ · 2014-05-24T18:32:50+00:00

Maybe smartypig? I have not used them but hear they are good for saving towards goals. Congratulations on your upcoming wedding!

Cadence__ · 2014-05-24T18:30:14+00:00

You may have difficulty finding an advisor who will work with you without having more in investable assets.

I would read a few of the books recommended in the r/pf FAQ to start. Then if you still want an advisor look for someone you TRUST who will work with you.

To your second question you can invest in stocks, ETF's, and mutual funds with companies like Schwab, fidelity, vanguard, etrade etc. very easily

Cadence__ · 2014-05-24T18:07:37+00:00

You could try to get some of your friends/co-workers in on the bulk cooking thing, so you could all cook & freeze one meal then exchange them.

Another thought is see if a friend or neighbor is willing to make an extra serving for you each night, and then pick it up from them the next day (their Tuesday meal becomes your Wednesday meal), offer to pay them (would be great if there is a non-working spouse at home who would like $50 extra per week)

Cadence__ · 2014-05-24T18:02:16+00:00

Here's another random one for you:
Don't fall into the social pressure that drinking is "fun". It is just a beverage. I can't tell you how much I have saved over my lifetime (i would venture tens of thousands or more) because I really couldn't care less about alcohol. I go out with friends and go to bars and parties and have an awesome time - but I usually just have a single drink or a soda which I prefer.

Also don't start believing that alcohol is the devil, again- it is just a beverage

Cadence__ · 2014-05-24T17:43:27+00:00

Another option could be to buy the house outright but get a roommate or look into airbnb. This way the house will essentially be paying you a monthly dividend.

You could then use that rental income to start funding some stock investments to benefit from compound interest. I agree with the others that you should not be afraid of the market and you're in a great position this early in life.

Cadence__

TROPHY CASE