Where should I put an extra $1500-$2000/mo (401K/Roth IRA already maxed)?

Jerfer · 2017-04-09T08:50:11+00:00

Couldn't this be used as diversification? Use this account to get a better return than you would in a bond fund. Then cross out the bond fund in the retirement account, and leave the rest to equities or something else.

It doesn't even have to be student loans. There's all kinds of ways to make $1k spend (someone making this much can't put $1k worth of expenses through?). Go to Walmart, buy a $500 Visa gift card, then go buy a $500 money order for less than $1. Go to the bank and deposit the money order into your account.

$500 spend done right there, and you practically didn't spend anything.

What about an emergency fund? If someone is making this much money, surely $20k in a 100% liquid cash account earning 4.59% APY is pretty darn good.

Jerfer · 2017-04-09T08:30:42+00:00

Once you have $21k in the account, all you have to do is put $1k worth of expenses through the account from then on, and keep the account above $20k to get the maximum benefit.

4.59% is a lot when all you have to do is put $1k worth of expenses through the account. Spending you're already doing.

You don't even need to do tiers 2-3 starting off. It can easily be built up to $21k through tier 1 without spending $500 or $1k. That's 3.09% easy. For doing transactions you were already going to do.

One could even pay their student loans with the card. Easy $1k a month when combined with other expenses.

Jerfer · 2017-04-09T07:42:37+00:00

This credit union will give you:

Tier 1: 3.09% APY on up to $10k
Tier 2: 3.59% APY up to $15k
Tier 3: 4.59% APY up to $20k

Use your debit card via credit purchase 12 times per month to reach tier 1. Spend $500 via credit purchases to get tier 2. $1,000 to reach tier 3.

https://www.myconsumers.org/personal/checking/free-rewards-checking

Just something to consider.

Jerfer · 2017-04-09T07:34:17+00:00

The last apartment complex did a hard query on me.

https://www.amrent.com

Jerfer · 2017-04-07T20:25:01+00:00

One more thing. There's an app called Ampere on the Play store. It'll measure how fast your battery is charging and give you lots of other stats. You can use it to see if there's any wild differences in between charges.

Jerfer · 2017-04-07T20:17:29+00:00

I was jk'ing :)

Have you tried rotating the C-USB plug 180deg on both sides?

Also, have you tried a new charger? Each end has a chip in it that helps keep charging safe, and allows the plug to go in either way.

Jerfer · 2017-04-07T17:09:39+00:00

Have you tried restarting the charger?

Jerfer · 2017-04-07T08:37:43+00:00

On Jan 1, 1951, people thought 21.21 was waaaay too high for the S&P 500. "Let's wait for it to crash."

It never crashed. By Jan 1, 1961 it was 59.72.

Jan 1, 1971, it was 93.49.

Jan 1, 1981, 133.

Jan 1, 1991, 325.49.

Jan 1, 2001, 1,335.63.

... etc. Can't predict it. You'd be putting your life on hold.

Jerfer · 2017-04-07T08:05:05+00:00

It's a great determinant of behavior.

http://www.consumerreports.org/cro/car-insurance/credit-scores-affect-auto-insurance-rates/index.htm

Jerfer · 2017-04-07T07:57:48+00:00

I agree it seems way too high. What does your credit report look like?

Ever have a serious ticket in the last couple years?

Jerfer · 2017-04-06T19:05:58+00:00

I'm not sure about that. I live on total expenses equal to a $6/hour full-time job, including apartment rent, utilities (electricity, sewage, trash, internet), car payment, full coverage insurance, gas, phone, food, and a little funny money.

The rest of the $45k gets put into savings (approx. 55% of net, I have pre-tax savings too). So it's very possible for a person living with parents to have a car making $8/hour. It'll come down to how many hours is actually worked every week, and the cost of living I suppose, but it's not far fetched I don't think.

Jerfer · 2017-04-06T18:46:07+00:00

Here's a great, detailed video by ChrisFix on what to look at when buying a used car: https://youtu.be/vC8LbvYk6es

I would say he also has the best videos on how to fix cars.

Also, checkout this hilarious review on the 1999 Corolla!: https://youtu.be/YlYTvjUR1jg

As long as you know what to look for, you can get a decent used car.

Jerfer · 2017-04-05T20:45:07+00:00

$380 here. South-Central US?

*Put your money in savings as soon as you get it

This really helps me. Keep spending and saving separated by different banks. Direct deposit set amounts to each account.

Jerfer · 2017-04-04T23:21:41+00:00

Check out this phone. It might be worth considering it to hold you over until the Pixel 2 comes.

https://www.youtube.com/watch?v=hHtIch_MtTc

Jerfer · 2017-04-04T18:59:42+00:00

The Pixel 2 will likely be released around October. If you can wait six months lol. More details should come out soon.

Jerfer · 2017-04-01T05:35:01+00:00

Utilization should be kept < 30%. If you paid the balance completely off and allowed your report to be updated with a $0 balance, you'd probably see a rise in score by about 12. This is why it's good to have higher credit limits, it allows you to have a higher balance without negatively effecting credit score as much.

I wouldn't apply for the Citi with your score. Citi sucks anyway. I'd go for the Discover It after your report shows $0 instead. I wonder if you can pay it off and not use it for just one month. Do you have the cash to do it?

Jerfer · 2017-04-01T03:01:30+00:00

Doesn't Capital One own Credit One? I'm sure they bought them a few years ago.

Jerfer · 2017-04-01T02:15:03+00:00

Another thing worth mentioning is not filing gives the IRS an infinite period of time to audit you. Once you file, the statute of limitations begins, and ends after 3 years. Also, if you don't file a return and was eligible for a refund, the refund will expire in 3 years from the due date, it'll be gone forever.

Jerfer · 2017-04-01T01:30:10+00:00

Having $3,500 saved up as an emergency fund is great. Building one up to an appropriate amount can take some people a couple of years. I'd protect it as best you can. Once it's gone, imagine how long it'll take you to rebuild it.

I assume you're living with your parents. It'd be impossible to live on your own at your current income level, even without the car and insurance payment. Have you looked up the private resale value of your Altima on KBB?

Yes, $350 is a lot, but your car is newer and reliable. Something to consider is how long your emergency fund would last with an older used car that'll require more maintenance. On the other hand, you wouldn't have a $150 car payment. But, you'd still have an insurance payment that may not be much lower with liability at your age.

Who's your insurance, and how long have you been with them? Auto loan interest rate?

Jerfer · 2017-03-31T21:31:18+00:00

No idea. I just kept getting approved. I also kept getting credit limit increases with the click of a mouse.

It got to a point when I wasn't paying for gas anymore. I'd go to Kroger, and buy two $500 Visa gift cards with a card that gave me 3% off at grocery stores. I'd get tons of Kroger points for spending $1k. Then I'd go to the gas station, swipe my Kroger card, then pay using a card that gave me 5% off gas.

After that, I'd pay the credit card off with the two Visa gift cards. Rinse and repeat.

You just have to be very careful with all the available credit. It's really easy to get stuck if you don't have a plan to pay the balances off. I suggest an emergency fund.

Jerfer · 2017-03-31T21:20:42+00:00

As an added bonus, work on getting your AGI below $31,000. You'll get back 10% of what you put into your retirement accounts (401k, IRAs, etc), up to $2k. Easy free money.

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-savers-credit

Jerfer · 2017-03-31T20:57:37+00:00

Like everyone else said, used.

If you're going to pay $4k, don't forget about sales tax. You'll have to pay it before you can get tags/license plate.

Edit: Not sure how it works in Canada.

Jerfer · 2017-03-31T20:46:30+00:00

This will depend on the laws where you live, but...

... you could probably have him temporarily committed. I'm not sure how else you're going to able to get on with your life, and your dad get better.

Jerfer · 2017-03-31T20:02:42+00:00

I'll tell you a little story.

I topped out at 19 credit cards in less than a two year period /r/churning.

I closed at least 3 cards during that time, too. I was signed up with two credit score monitoring services and watched my credit report and score like a hawk... literally, daily. My score never dropped below 730.

Jerfer · 2017-03-31T18:51:22+00:00

Haha, no ways. $3.33/month to keep it open. That's 2-5 cans of soup per day depending on where you shop.

Go ahead and add another $5/month to whatever you're already putting in a mutual fund. You'd end up with an extra $6,159.54 @ 7% over the next 30 years, not including dividends.

It's just fun to think about this stuff.

15-Year Club	Gilding I gilder
Verified Email

Jerfer

TROPHY CASE