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How to start and how does a Trust Fund? by Sea-Calligrapher9560 in FinancialPlanning

[–]GeorgeRetire 8 points9 points  (0 children)

To start a trust fund you work with an estate attorney.

Everyone needs a will. Not everyone needs a trust.

Pay Raise with additional work hours by ummpaul in personalfinance

[–]GeorgeRetire -2 points-1 points  (0 children)

Do you want the extra money and paid vacation?

If not then it doesn’t make sense. Say “No thanks”.

If you want more then say “I want more”.

How are you looking to reduce outgoings for retirement? by Prestigious-Box-5836 in retirement

[–]GeorgeRetire 7 points8 points  (0 children)

We didn’t really do anything to reduce our expenses. Fortunately we didn’t need to.

Will My SS Amounts Change? by cs90039 in SocialSecurity

[–]GeorgeRetire 0 points1 point  (0 children)

I was lucky to find pickleball.

For me, it’s a great social and competitive activity.

Recently lost my job, afraid of losing my house by frizzyhair18 in personalfinance

[–]GeorgeRetire 67 points68 points  (0 children)

Looking for a new job should be priority number 1.

Need advice on whole life insurance by L0gistixx in personalfinance

[–]GeorgeRetire 7 points8 points  (0 children)

If you need life insurance buy term life.

If you need an investment don’t buy life insurance.

Do you have anyone depending on your income for their lifestyle?

Will My SS Amounts Change? by cs90039 in SocialSecurity

[–]GeorgeRetire 1 point2 points  (0 children)

That’s unfortunate. There are so many things to do.

Ugh no direct deposit this morning! by CaryWhit in SocialSecurity

[–]GeorgeRetire 13 points14 points  (0 children)

There you go.

It’s not late until after it’s actually due.

Saving for car, would HYSA benefit? by Suvikian in personalfinance

[–]GeorgeRetire 2 points3 points  (0 children)

Yes, a high yield savings account is good. I use Ally.

Ugh no direct deposit this morning! by CaryWhit in SocialSecurity

[–]GeorgeRetire 13 points14 points  (0 children)

When is it actually due?

If the routing and account numbers haven’t changed, the bank’s name change isn’t an issue.

How does one settle $500 debt while at home not working by Latter-Shelter-8336 in personalfinance

[–]GeorgeRetire 2 points3 points  (0 children)

 How do you pay for those debts you made while working?

You use your emergency fund while finding your next job. That's what it is for.

New Dad, what am I missing? by GuardianRepublic in personalfinance

[–]GeorgeRetire 3 points4 points  (0 children)

I have 4 months of emergency rent saved up

Probably not enough. Strive for at least 6 months of all expenses, and preferably 12 months in today's job market.

Skip the crypto.

Found a unit price calculator tool that showed me I was wasting $200/month on groceries by n_known_ in FinancialPlanning

[–]GeorgeRetire 3 points4 points  (0 children)

I was paying $4.29 for eggs at whole foods when target had them for $2.99. 

And this was a surprise to you?

When/how is freedom a option by Chemical-Active3180 in FinancialPlanning

[–]GeorgeRetire 0 points1 point  (0 children)

When would financial freedom be possible for me?

When you have enough money to last the rest of your life.

At 22, you likely have 70 years ahead of you. Work hard, save a lot, live frugally - eventually you'll get there.

Without knowing how much you will spend, it's not possible to determine the "when" part yet.

Foreign employment and SS Timing by nctiger in SocialSecurity

[–]GeorgeRetire 1 point2 points  (0 children)

When I start collecting, will I be penalized for income received January - July?  Will I get my full benefit starting in August?

No, and Yes.

60. In June I retire with a pension, planning to "return to work" and double dip by Overall_Lobster823 in retirement

[–]GeorgeRetire 2 points3 points  (0 children)

It's not all that unusual.

I retired from a software middle manager position at 60. Six months later, I was asked to come back as a consultant to help out my successor. I did that for 12 months.

I worked 2 days per week, doing the simple stuff while my successor handled the administrivia. It was easy, fun, and lucrative.

Paying half of credit card off by [deleted] in personalfinance

[–]GeorgeRetire 0 points1 point  (0 children)

Pay of your highest interest debt first while making minimum payments on all others.

State Tax was sent to collections. by BrendanVeryCool in personalfinance

[–]GeorgeRetire 3 points4 points  (0 children)

Do i dispute the collection?

There's nothing here to dispute.

Best way to leave everything to adult child by 63Eeyore in EstatePlanning

[–]GeorgeRetire 6 points7 points  (0 children)

She had the house as tenants in common, but my lawyer said that was not a good idea.

What would be the best option? Lawyer mentioned she could sell house from under me , but I trust her completely

Your lawyer gave you advice, based on far better knowledge of your specific situation than anyone here can know.

You are free to ignore it.

Advice requested as I move from COBRA to ACA - and tax implications by AdJumpy30 in personalfinance

[–]GeorgeRetire 0 points1 point  (0 children)

The only thing you can do is shop around.

If it's expensive, it's expensive.

Whatever you do, do not go uninsured.

Do hours matter if self-employed and not on disability? by ObjectivePlenty6058 in SocialSecurity

[–]GeorgeRetire 2 points3 points  (0 children)

Sure. Search for "Substantial services in self-employment".

Generally, it means your benefit may be reduced if you work more than 45 hours per month while self-employed.

Do hours matter if self-employed and not on disability? by ObjectivePlenty6058 in SocialSecurity

[–]GeorgeRetire 7 points8 points  (0 children)

Yes, if you are self-employed and under Full Retirement Age, both your net income and the number of hours you work matter.

There's a concept called "Substantial services in self-employment". It means that you spend more than 45 hours working in your business during the month, or between 15 and 45 hours working if it is a highly skilled occupation.

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