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Othaniel

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Questions34
  • Buy a Car or Fix an Old one?

    I have a 2014 Nissan Altima that is having transmission problems. I have been putting money into the car to fix it and the problem continues to occur. I have money saved up but I do not want to buy a new car or go into debt. The money I do have is for a House and if I spend any of it. I will be sent back months maybe even years of savings. I don’t know what to do. My parents are saying but a new car but to me and what I’ve read that’s is a horrible financial idea and i don’t want to spend more fixing the car that I do have. 

    12 AnswersBuying & Selling2 months ago
  • Pension Rollover or Cash out?

    So I quit my job back in August of last year. I have a pension of about 30k. I moved to Houston and acquired a position with a new pension.The new one doesn't allow for me to roll it over .My options are to roll it over to an IRA which I'm not interested in or to my 457 with my new career.Im worried that I will lose more money due to the possibility of a recession and market crash.I'm 27 and have no kids or wife and no Debt what so ever but am planning on buying a house with the market going down especially in Texas where housing is significantly cheaper compared to that of NYC.So my question is should I cash out know I'd probably leave with 23 to 25 k and put that on a house with the cash reserves I have during the down turn or .Should I roll it into my 457 and hope for the best 30 years from now when I retire . I have cash in reserve for emergencies and I'm a police officer so it's unlikely that I'd lose my job.I have 8k from my 457 from NY and I rolled that into my new 457 in Houston .

    Personal Finance5 months ago
  • Should I leverage to buy other property.?

    Hello ,so I have 3 properties in my llc that are finished being paid off.i have enough equity in them to buy 2 smaller properties on a 15 year mortgage .The question is ;Is that a good move or should I wait 4 years not spending a dime of the cash flow to buy another. I live in Texas btw but operating out of NY

    5 AnswersRenting & Real Estate1 year ago
  • Stuck between a rock and a hard place.?

    I am currently engaged with my fiance and we have been together for approximately 3 and half years now.My fiance recently acquired her dream career and while she isn't making money right now when she hits top salary she will be able to bring in 6 figures easy with no debt or anything .On the other hand I'm doing okay in life but was offered a fully paidoff house by my mother as early inheritance.The problem is the house is in Texas and we both live in New York .My fiance does not want to leave her dream career or her family however I do not want to miss out on a fully paid off place in great condition. We have no debt with decent careers but ran the numbers and wont be able to afford to buy or really stay in New York while I'm thinking even though we she wont have her dream career anymore having a fully paid off house in a great area can bring about more opportunities because we are very young. In my mind we can start generational wealth by just continuing with the house and investing.Also we wouldn't need the huge income that we need in New York just to survive . So this is basically a question of Love or Money. Should I stay in New York and be miserable while she lives her dream or should leave my fiance whom I love and take essentially a mini mansion paid off.

    7 AnswersOther - Careers & Employment1 year ago
  • Would you live 1hour and 30 mins away from your job ,friends and family because its affordable or stay in the city struggling?

    I work in the city however,my wife and I clearly cant afford it.We found multiple places about 1 hour or more outside New York but cant justify ourselves to moving without feeling like we are leaving everyone behind and making our commute harder. We love our life style but hate our expenses. We hate commuting but can afford a way better life farther way . What would you do in our situation?

    10 AnswersCommuting2 years ago
  • Should I Rent or Buy ?!?!?! New York Area?

    So I recently have gotten married & my wife and I saved up 64k towards our lives to start together.We both have no debt ,great credit and managed to save a decent amount of money while living at home.We have a combined income of 92000 and are in our first and third year into our careers at our city jobs.If you were in my shoes would you start renting or jump into either a starter home or an affordable co-op.

    3 AnswersSpecial Education2 years ago
  • What should I do with my life ?

    So I m 25 years old no debt of any kind currently make 45000 with prospects of making 125k by the time I m 30 or 31 I started a 401k and 457 and Roth IRA along a pension with 8k in personal savings and 1500 in an annuity with my job .On paper it looks nice however I do live in NY and was able to do this because I stayed home and didn t really experience life .Im ready to move on with my life however I don t know what my first step should be in terms of moving out. I can only afford "bad"neighborhoods and i dont see the point in moving there just to be on my own.I don t want to count on anyone but myself and I feel that I m just existing where I wake up go to work,come home, eat and repeat . I don t know what to do and I get that I m in a great place compared to many of my fellow colleagues but I can t help but feel a deep emptiness inside .

    3 AnswersPersonal Finance3 years ago
  • Can i buy a foreclosed home,coop or condo and rent it out.?

    Im looking for rental property however the prices are either too high, the numbers don't work or its an foreclosure and doesn't state if its a coop condo or house.I'm aware that i could have to go through a board if its a coop providing that they even allow it and if its a condo its mine to do whatever i please but i do not know that if its in an foreclosure status will it affect my ability to rent .

    6 AnswersRenting & Real Estate3 years ago
  • Starting out in life !What would you do ?

    So I decided that I'm going to marry my girlfriend however I do not know a few things about "adulting". Between my girlfriend and I we have 30k in cash I have 12gs in retirement income along with a 5000 in a 401k and another 5 in a 457 I have no debt I'm 25 and still live at home with my parent in NY and I should be getting a promotion sooner or later. My question is if you are in my situation would you propose with a cheaper ring and put a down payment onto a cheaper house and pay the wedding cash or would you forget a wedding all together just propose and live life seeing where it would go. We stayed out of debt and we want to continue to do so but between our incomes we can't afford to live in NY unless we buy a coop around the outskirts of the city . Our goal is to become financially free overtime and for the most part we are both frugal however I want to give her what I believe she's deserves. What would you do ?

    6 AnswersPersonal Finance3 years ago
  • Cancel 401k and take the money now or leave it as it is?

    So my mother just had a heart transplant and decided to down size and give my sister and I our inheritance early .The problem is my sister and I are just finished college and our jobs don t pay enough for us to support ourselves much less do anything else ,between the both of us after selling the house my mother wants to give us about 60000 each.I have at least enough to put a down payment on a small one bedroom or something. I live in NY if that helps I have minor credit card debt and little school loans and make about 40k a year and I have decent credit 757 however the landlords refuse to rent because after calculating what I owe I will not have enough to safely pay for my apartment utilities and debt he said something about debt to income ratio.so is there anything I can do mom will not allow me to live with her because she says it time for me to be an adult .If I cancel my 401k ,and 457 I have enough that im only 300 dollars short per month on my budget which I can make up in overtime .The question here is should I cancel them for current financial choosing to restart later when I have a better situation or should I keep my investments and find a second job altogether

    5 AnswersPersonal Finance5 years ago
  • What is the best bed I can find under 1000?

    So I'm moving into my first apartment and I need a new bed. my current bed I have been using for the past 15 years and now I need a new one that fits into my budget.Im not picky at all I just don't trust online reviews because most of them seemed to be sponsored content and I don't like the salesmen at the stores.

    2 AnswersDecorating & Remodeling5 years ago
  • I need a great mattress !?

    I'm moving soon and would like to know what is a great mattress ,that won't break the bank ,for both comfort and sleep and sex ?

    1 AnswerSingles & Dating5 years ago
  • What is better term life insurance or whole life insurance?

    I'm 23 just starting out,have no debt and I'm a fireman

    15 AnswersInsurance5 years ago
  • Savings questions?

    If I have a great pension a401k as well as an 457 also whole life insurance,do I still need to put money away for the future disregarding big life changing purchases.

    4 AnswersPersonal Finance5 years ago
  • Is critical illness insurance worth it?

    I currently started a job with the city of NY .I'm 23 years old and healthy however my family on both sides have diabetes hypertension and heart disease going back generations also cancer on both sides.i started critical illness insurance because it is cheap for someone my age with no history and 20 maybe 30 years down the line I may need it but I can't help thinking I'm wasting my money considering I'm just starting up in life and I NEED MONEY . I've already started an 401k an 457 a403b and Ira account also a pension through the city and life insurance but after everything is taking out I bearly have enough considering bills.i have no credit card or school debt ,Thank God,but I do want to thrive.

    4 AnswersPersonal Finance5 years ago
  • What would you do ?Retirement ,Graduation living in New York City !?

    Currently I'm going to be graduating college with no debt and I've decided to stick with my job working for the city of New York my base pay is 40000 and I want to know if I'll be able to live on that pay after everything is taken out so far I started a small annuity plan have put away 2000 in an IRA account ,also I started both a 457 as well as a 401k plan with life insurance and critical Illness insurance with a pension. My take home is around700 to800 without overtime so about 1600 a month .the question here is that amount enough to survive as a single male in New York City without sacrificing my future retirement? I'm 23 if that helps and have no debt what's so ever and Yes I do have a credit card but before you judge keep in mind I was not born with a silver spoon or anything like that I was just taught to make financial decisions early so I wouldn't have to worry about then later.Thanks for answering and God Bless

    4 AnswersPersonal Finance5 years ago
  • Tax Business help?

    I want to start a minor tax preparation business but I don't know if I should start a llc or a sole proprietor and how do I go about starting do I get a ein number does that come if I start an llc and which software is best for doing multiple tax returns.

    2 AnswersSmall Business6 years ago
  • Business checking question?

    I started a minor business and wanted to know whether or not I have to have a business checking account. Can't I just open up a regular account at my local bank until I make enough money for a big account

    5 AnswersSmall Business6 years ago
  • I need help changing my businesses name from warren financial to something else.?

    I started warren financial when I was 18 on the side but the company is quickly becoming bigger than what I anticipated so i want to rename the company and the company's url to show that warren financial does more that just taxes and finance ;the small business now offers law advice as well as injury attorneys massage physical and occupational therapy as well other services .Im trying to find something that rolls of the tongue that shows that the company is now so what of a syndicate .i do apologize for the grammar im typing this in the middle of a meeting

    1 AnswerSmall Business6 years ago
  • Credit Card Confusion?

    Im 21 and just applied for a secured credit card through my credit union .I was accepted and everything is going smoothly. My question is because i have no credit back ground was it wise to get a secured credit card compared to that of a regular credit card? Also I saved up 10,000 in the bank and have been working with FDNY for roughly 1 year if that counts for anything.Also should i wait for another year to get a regular credit card ?Thank for answering and God Bless :D

    4 AnswersCredit7 years ago