Displaying 11 - 20 of 83 Forum PostsPrev 1 2 3 4 5 Next
  • Mar 29, 2021 05:51 PM
    Last: 2yr
    786

    I'm all about being on top of my credit to make sure everything is on the up and up, but going over my report weekly seems a bit like overkill.

    My wife and I belong to an established credit monitoring agency and get monthly updates from them. We haven't had any red flags yet, so we tend to just check our report around the time we file our taxes each year.

    Is there a reason to follow it weekly or is this weekly thing just a bonus for people to use at their leisure?

  • Mar 24, 2021 02:37 PM
    Last: 2yr
    613

    My wife and I don't really have a "set number" and instead are focused on growing our diversified portfolio for the time being. We'd love to retire in our mid-late 50's, but it's not a necessity so long as we continue to enjoy the work we're doing.

    There are a ton of things that will help determine when you can retire. Do you have a child or children you're intending on leaving an inheritance to? Do you lead a lifestyle rich in travel and adventure or are you more of a home body who hasn't ventured out of a 100 mile radius in years? Do you intend to stay that way when you retire or not?

    The main thing I want to be sure of when my wife and I retire is having enough money to travel a minimum of 3 times a year for as long as we're able to. We're not flashy people when it comes to houses and cars, but we certainly love to travel and will be doing a whole lot of it when we retire.

  • Mar 29, 2021 03:38 PM
    Last: 2yr
    684

    I was researching some ways to make a little extra money in my free time and came across a site that listed a number of paid focus groups being conducted in my area. Some of these focus groups advertise they are willing to pay $250 and up for your time.

    I've always thought when something seems too good to be true that it usually is, but the more I dig the more I can't help but think I could apply to be in one or more of these studies and actually get some extra money on the side for participating.

    So I'm interested to see if anyone has ever been paid to be in a focus group and what your experience was like if you did. I always assumed focus groups were voluntary, but I'd happily participate in some if they would provide a little extra "spending cash" for me.

  • Mar 28, 2021 06:11 PM
    Last: 2yr
    363

    It depends what your classification of "rich" is. There's a huge difference between the 10% and the 1%; an even bigger difference between the 1% and .1%.

    I personally think people close to the 10% range pay their fair share in taxes and then some. They are comfortable, but not private account on retainer comfortable. They also pay a far greater percentage of their yearly income towards tax obligations than the ultra-wealthy have in decades.

    The ultra-wealthy have a host of options at their disposal in order to evade paying their fair share, with the most common one being that a large chunk of their "income" is actually tied up in capital gains, which is taxed at a far lower rate than income. Additionally, the ultra-wealthy tend to "donate" a ton of money to ... unique non-profits that are tax deductible. Then there's always the offshore havens who are more than happy to hold your money with no questions asked.

  • Mar 28, 2021 08:13 PM
    Last: 2yr
    368
    This is something I've always had an interest in learning, but for some reason haven't hunkered down and committed to a course. I've always found one excuse or another to put it off for another day, but hopefully I'll break that one of these days and learn how to do it.
  • Mar 28, 2021 05:45 PM
    Last: 2yr
    360

    I moved to Portland in 2012 and immediately fell in love with the fact that the state doesn't have a sales tax. The price I see on the item(s) I want to buy is the price I'll pay. It was such a foreign concept to me.

    What I didn't think about during that period of time is exactly how the state gets money if they don't have a sales tax. What I found out during the 2013 tax season is that the state largely gets its money by having a pretty high state income tax.

    I've been here nearly a decade now and I still haven't figured out if I would be paying more or less if I lived somewhere else. On the one hand, I don't have to pay any taxes on purchases big and small, fancy dinners, or nights out (when we can do that again). On the other, my wife and I pay A LOT in state income taxes in addition to our Federal tax obligations.

    Has anyone ever really dove into this and done the math? I know the people who make out the best are those who live across the river in Vancouver, WA. They have no state income tax and their residents can simply travel across the bridge to do all their shopping. But for people who live in Portland (and the rest of the state) I wonder if we are doing it right.

    So which one do you think is better? Little to no state income tax or no sales tax?

  • Mar 27, 2021 07:38 PM
    Last: 2yr
    402

    I don't have one and honestly don't think they are worth the money, but to each his own. I recently upgraded to a Lenovo - IdeaCentre and absolutely love it. It's super easy to split the screen in two and voila, I have two "screens."

    This is my first desktop in nearly a decade and I don't know if I'll ever go back to the multi-screen setup I had with my laptops. It's a huge space saver and I find myself actually being more productive with it.

  • Mar 21, 2021 04:46 PM
    Last: 2yr
    398

    The 2021 tax deadline was extended to May 17 this year, but people who are 1099 private contractors and pay their taxes quarterly still need to make sure they are up to date with their payments.

    If you're a private contractor and don't want to pay a penalty for underpaying your estimated taxes you'll need to pay the IRS at least 90% of the tax for the current year (2021) or be certain you've paid 100% of the tax for the prior year (2020).

    For the vast majority of people who are private contractors the former will be much easier to calculate than the latter, but both options will require a private contractor to do a bunch of paperwork to ensure they are in the good graces of the IRS.

    So if you're a private contractor just be aware that you technically have until May 17 to file your 2020 taxes, but just make sure you've up to date with all of your quarterly payments because that hasn't changed at all.

  • Feb 28, 2021 05:32 PM
    Last: 2yr
    4.5k
    GoldStandard Wrote: Seems like this will get passed today and sent to Biden for signature. Means we should be on pace for March checks, especially if you get direct deposit.
    Yep. I have a feeling the vast majority of people who have direct deposit will have their money in the next week or two. The 2nd stimulus checks were deposited pretty quickly, so if your information hasn't changed and you qualify then you should be getting it pretty soon.
  • Mar 01, 2021 04:38 PM
    Last: 2yr
    795
    WyattTown Wrote: Plan is to invest it. I should be getting the max. I'm lucky enough to not be effected job-wise so I am looking to the future, hoping to get some decent return from it down the road.

    That's not a bad idea at all and will almost certainly pay off in the long run.

    Thankfully we were able to continue our investment strategy without any interruptions during 2020, so we aren't terribly worried about spending more than we can afford. It'll just be nice to get away for a little while once it's safe to travel again.