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Community announcement 10.23.20

Forum: Announcements
0 likes · 16 views
Maryann
Hi everyone! How has your week been? With only a week left in October, I’m curious to know how things are going for you. Please feel free to share an update in the comments below. Speaking of comments, there have been some great comments and questions this week. Here are a few threads I’d love to hear your thoughts on: @Derek Brammer shared how he is feeling dismayed because his health savings account does not earn interest, plus he’s charged monthly account fees. As a result, he’s losing...Read More...
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What we're talking about...

TopicNew0 replies

Community announcement 10.23.20

Forum: Announcements
0 likes · 16 views
Maryann
Hi everyone! How has your week been? With only a week left in October, I’m curious to know how things are going for you. Please feel free to share an update in the comments below. Speaking of comments, there have been some great comments and questions this week. Here are a few threads I’d love to hear your thoughts on: @Derek Brammer shared how he is feeling dismayed because his health savings account does not earn interest, plus he’s charged monthly account fees. As a result, he’s losing...Read More...
Posted
TopicNew0 replies

Car sale

Forum: General Discussion
0 likes · 29 views
Does anyone know of any websites to sell a car on aside from FaceBook, Craigslist, Vroom, Carvana, Peddle and eBay? Or if anyone would be interested in buying a car, I can send deets.Read More...
Posted
TopicNew1 reply

Health Savings Account

Forum: General Discussion
0 likes · 67 views
Derek Brammer
Dear Penny Hoarder; I have a health savings account from a previus employer with UMB. I fully understand the importance of this financial tool, however I find it very dismaying that it does not earn any interest and I am being charged $4-5.00 a month for fees. I rarely use it because I try to stay healthy and cannot believe that I am losing $50.00 a year for UMB to hold my money. Any suggestions? ThanksRead More...
JeremyM
Don't put anything more into it. Instead, open a savings account and put whatever you normally contribute into that account. Then if you need the money, it's there drawing interest or if you need it for something non-medical, it's there for that too.Read More...
Updated
Last Reply By JeremyM · First Unread Post
TopicNew1 reply

401K

Forum: General Discussion
0 likes · 55 views
Derek Brammer
Dear Penny Hoarder; I have 3 separate 401K accounts from 2 different employers and a personal 401K & Roth on my own. Should I combine these to one account or leave them as they are? ThanksRead More...
KMartino
I also have multiple accounts. I am no expert, but your required distributions in retirement would be based on the account value at the time of distribution so it might not make a difference whether or not they are combined; it might (depending on the investments in each account and the value at the time of distribution) be the same amount of income either way. Diversifying (keeping all of the individual accounts) has pros and cons in my opinion. Pros: As the years go by you will have a...Read More...
Updated
Last Reply By KMartino · First Unread Post
TopicNew0 replies

Community announcement 10.19.20

Forum: Announcements
1 like · 94 views
Maryann
Hi everyone! In case you missed it: last week, The Penny Hoarder’s money advice columnist Dear Penny, aka Robin Hartill, CFP, and Credit Sesame partnered up on a live Q&A to answer your questions around improving your credit score and overall financial health. While the Q&A has concluded, the thread is still available for viewing and learning. Head on over to the thread to get your questions answered . Since there were so many great questions asked in the Dear Penny live Q&A, I...Read More...
Posted
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Types of FHA Refinance Loans

Forum: Save Money
1 like · 7 views
edi mulyana
Are you currently considering refinancing your home? Maybe you have heard how interest rates are a 5 year lows or that FHA refinance loans and their updated programs have become wildly popular. Lucky for you, both of those things are true making for an excellent refinance opportunity. And it is no more difficult to apply for an FHA Loan than it is for a Conventional Mortgage. Before you decide to refinance, you should know the basic requirements for FHA Mortgages. To be eligible for FHA...Read More...

JUST FOR YOU

TopicNew0 replies

Community announcement 10.23.20

Forum: Announcements
0 likes · 16 views
Maryann
Hi everyone! How has your week been? With only a week left in October, I’m curious to know how things are going for you. Please feel free to share an update in the comments below. Speaking of comments, there have been some great comments and questions this week. Here are a few threads I’d love to hear your thoughts on: @Derek Brammer shared how he is feeling dismayed because his health savings account does not earn interest, plus he’s charged monthly account fees. As a result, he’s losing...Read More...
Posted
TopicNew0 replies

Car sale

Forum: General Discussion
0 likes · 29 views
Does anyone know of any websites to sell a car on aside from FaceBook, Craigslist, Vroom, Carvana, Peddle and eBay? Or if anyone would be interested in buying a car, I can send deets.Read More...
Posted
TopicNew1 reply

Health Savings Account

Forum: General Discussion
0 likes · 67 views
Derek Brammer
Dear Penny Hoarder; I have a health savings account from a previus employer with UMB. I fully understand the importance of this financial tool, however I find it very dismaying that it does not earn any interest and I am being charged $4-5.00 a month for fees. I rarely use it because I try to stay healthy and cannot believe that I am losing $50.00 a year for UMB to hold my money. Any suggestions? ThanksRead More...
JeremyM
Don't put anything more into it. Instead, open a savings account and put whatever you normally contribute into that account. Then if you need the money, it's there drawing interest or if you need it for something non-medical, it's there for that too.Read More...
Updated
Last Reply By JeremyM · First Unread Post
TopicNew1 reply

401K

Forum: General Discussion
0 likes · 55 views
Derek Brammer
Dear Penny Hoarder; I have 3 separate 401K accounts from 2 different employers and a personal 401K & Roth on my own. Should I combine these to one account or leave them as they are? ThanksRead More...
KMartino
I also have multiple accounts. I am no expert, but your required distributions in retirement would be based on the account value at the time of distribution so it might not make a difference whether or not they are combined; it might (depending on the investments in each account and the value at the time of distribution) be the same amount of income either way. Diversifying (keeping all of the individual accounts) has pros and cons in my opinion. Pros: As the years go by you will have a...Read More...
Updated
Last Reply By KMartino · First Unread Post
TopicNew0 replies

Community announcement 10.19.20

Forum: Announcements
1 like · 94 views
Maryann
Hi everyone! In case you missed it: last week, The Penny Hoarder’s money advice columnist Dear Penny, aka Robin Hartill, CFP, and Credit Sesame partnered up on a live Q&A to answer your questions around improving your credit score and overall financial health. While the Q&A has concluded, the thread is still available for viewing and learning. Head on over to the thread to get your questions answered . Since there were so many great questions asked in the Dear Penny live Q&A, I...Read More...
Posted

Community Buzz

New0 replies

Community announcement 10.23.20

Forum: Announcements
0 likes · 16 views
Maryann
Hi everyone! How has your week been? With only a week left in October, I’m curious to know how things are going for you. Please feel free to share an update in the comments below. Speaking of comments, there have been some great comments and questions this week. Here are a few threads I’d love to hear your thoughts on: @Derek Brammer shared how he is feeling dismayed because his health savings account does not earn interest, plus he’s charged monthly account fees. As a result, he’s losing...Read More...
Posted
New0 replies

Car sale

Forum: General Discussion
0 likes · 29 views
Does anyone know of any websites to sell a car on aside from FaceBook, Craigslist, Vroom, Carvana, Peddle and eBay? Or if anyone would be interested in buying a car, I can send deets.Read More...
Posted
New10 replies

Life changing decisions

Forum: General Discussion
0 likes · 785 views
Hi, I have some life-changing decisions that I'm about to make from buying a house to buying a car dada dada dada. For about a month now, I have been weighing out the decision of using a financial firm to manage investments where I'm charged 1.25% per quarter or something like that also along with a life insurance plan where I have to make contributions towards it in addition to my initial premium of about $12,000 I think. I also had an art investment firm that I was curious about but when...Read More...
mememe
Do you know of any websites to sell a car on aside from FaceBook, Craigslist, Vroom, Peddle and eBay?Read More...
mememe
Thank you so much for the response. I'm processing it all. Hate to still have to go back to the drawing board but I'm willing to take my time since my money is very serious to me.Read More...
Updated
Last Reply By mememe · First Unread Post
New1 reply

Health Savings Account

Forum: General Discussion
0 likes · 67 views
Derek Brammer
Dear Penny Hoarder; I have a health savings account from a previus employer with UMB. I fully understand the importance of this financial tool, however I find it very dismaying that it does not earn any interest and I am being charged $4-5.00 a month for fees. I rarely use it because I try to stay healthy and cannot believe that I am losing $50.00 a year for UMB to hold my money. Any suggestions? ThanksRead More...
JeremyM
Don't put anything more into it. Instead, open a savings account and put whatever you normally contribute into that account. Then if you need the money, it's there drawing interest or if you need it for something non-medical, it's there for that too.Read More...
Updated
Last Reply By JeremyM · First Unread Post
New6 replies

What too pay off first

Forum: Reboot Your Credit - LIVE Q&A with Dear Penny & Credit Sesame
1 like · 176 views
Beau W.
Hello there, I have a credit card and a line of credit with a credit union. Both have about $1700.00 balance yet to payoff. Line of credit is a 7.9% interest rate and the credit card has a 8% rate. I have the money too pay one off. Which one is better too pay off for my credit score going up?Read More...
JeremyM
Since they are both similar amounts and similar interest rates, I'd pay off the one with the highest monthly payment. If that, too, is similar then it doesn't really matter. Paying off either will lower your usage of available credit, which will raise your credit score in a month or so. I would use the monthly payment of the one that you paid off to make extra payments on the one that you didn't to get that paid off quicker.Read More...
Beau W.
No ma'am. All current and on time payments.Read More...
Updated
Last Reply By JeremyM · First Unread Post
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