KReddit934
KReddit934 t1_iudrb1d wrote
Reply to comment by RevolutionaryLion384 in No-interest loan but interest was dumped into my account after it was not fully paid off by a certain date by RevolutionaryLion384
Another lesson learned is to always get a printed copy of anything you sign.
KReddit934 t1_iucwr3k wrote
The online only "high yield savings accounts" pay much better than a regular bank account. Read reviews and pick one with FDIC insurance (and may that's been around a while?) Discoverbank, Ally.com, Marcus are all big players. Ally has a nice "Buckets" feature where you can sort out what the money is "for."
Open the account and link it to your existing checking account to move money back and forth. Remember that transfer take a few days so plan ahead to keep enough money in your checking account.
KReddit934 t1_iuapdx8 wrote
Reply to So apparently I-Bonds are a bust for this fledgeling investor. Are stock dividends the way to go? by financelg
Take a look at this for how to think about investing....
KReddit934 t1_iu98fln wrote
Reply to I intentionally choose not to invest but want put money into developing my own business. Am I wrong? by Awkward_Coat6622
Check out the book by JL Collins, A Simple Path to Wealth. (Or his blog https://jlcollinsnh.com/stock-series/)
Nothing stopping you from doing the simple path to secure your future, and working on your business. A business can be great, but it's a "many-will-play-few-will-win" path, so plan for success and failure.
KReddit934 t1_iu7mczd wrote
Reply to comment by mattledz in How should I really be using my savings account? by mattledz
I thought that bank accounts use a different score to check you out...but if you have identity theft issues, it might be hard to prove your identity online, true.
KReddit934 t1_iu7ikaf wrote
Because the bank interest rate for saving is so low, many people open a seperate online savings account (check out Ally, CapitalOne360, DiscoverBank, or Marcus, among others.) Then you link the two accounts and can transfer money back and forth. Current these accounts are running at or just under 3% interest.
KReddit934 t1_iu7h39i wrote
Reply to comment by Rxpert83 in [Follow up] 22 years old and have a check made out to me for 30,000 dollars. Should I open a savings account for the initial deposit or just go straight to my checkings? by throwaway2639441
This is particularly risky if you use a debit card for everyday transactions.
KReddit934 t1_iu77nho wrote
I think you are doing great. Maxing Roth is smart at 12% bracket. Taking advantage of 401K is good, too.
Just make sure you have a strong Energency Find so you don't need to tap that retirement money, and you both have life insurance.
Enjoy what sound like a great start to a secure life.
KReddit934 t1_iu3o0qa wrote
ATM? (Did you get a PIN number?)
KReddit934 t1_iudruig wrote
Reply to want some money tips from more people by Radiant-Barnacle9129
Read this about how to not gamble with retirement savings.. https://jlcollinsnh.com/stock-series/
Then look for something that gives you a dopamine hit that doesn't involve money.
(Or if you still are fixated on money, have you tried radical frugality? Making a game of how little you pay for things and how to get by with less..watching your savings grow and grow?)