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Cactus Flower

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Everything posted by Cactus Flower

  1. I suppose a lot of us made foolish money mistakes at that age and didn't care what the older generation thought.LOL
  2. I think OP is talking about the new policies put in place since Covid-19
  3. I know a few things come into play for me .. past actions (divorce/bankruptcy) ... single income/just me (who will take care of me, if not me).... learning what not to do, from watching family and friends. My employer started doing damage control a few years ago. New hires are not eligible for any pension/retiree medical, but they do get their 401k's matched at a higher amount (mine is 50% up to 6%, theirs is 100% up to 6%). I had planned to exit the workforce in 3-5 years (unless my employer decides different).. but now thanks to the virus.. it looks like I will be working from home/remotely from here on out. I may be able to hang in there another 10 years if I am able. My biggest regret is having a car payment, when the car rarely leaves the garage. But the upside is that this may be one of the last cars I have to buy for a long while. ... (just thinking out loud).
  4. I only have a quarter of that, but added to Pension and SS I will be more than OK Of course I post that and some negative nellie or nelson will point out that SS likely won't be around and neither will my pension. 😉 that's why I stay in my cheap house. You don't need much money if you don't a lot of bills.
  5. 1. Can Vanguard certify whether I’m eligible for assistance? It’s not up to us to confirm whether you qualify. Instead, you’ll need to tell us if you’ve been affected by the coronavirus.* Except for one of the new provisions around suspending loan payments, which anyone can take advantage of—even if you haven’t been affected by the coronavirus. But for the other options, it’s easy to determine for yourself whether you’ll qualify. Do any of these three situations apply to you? Have you contracted COVID-19? Has your spouse or a dependent contracted the disease? Have you lost your job or lost income because of the quarantine? If you answer “yes” to any of these, that means you’re eligible.
  6. I was told you had to be "impacted" financially by covid-19 .. I am not sure what makes up that laundry list....
  7. yeah I have about 10k in savings with Ally bank that was, for awhile, paying around 1.75% - now it's down to 1.10%. Dumb luck: I managed to buy a 12 mo Term CD at 1.25% right before the rate dropped to 1.10% Yeah I am sure I could invest that $ somewhere, but right now I feel better keeping some cash around just in case my very stable job, suddenly becomes unstable. what a world we live in.
  8. I also understood that you had to be in a hardship situation to do this... can't just do it because you want to.
  9. I suspect a bunch of my Synch's will be slashed or closed. Mine are all retail/store cards and I just don't use them. Except for Lowes .. they all have paltry limits anyhow... how can you do a lot of shopping when all of the stores are closed. Not everything is all that convenient to mail order.
  10. Same here.. cut my limit in half .. from 15k to 7.5 k... Claimed I don't use it much, which I don't.. a pencil here and there. I have 3 of their cards and so far they have only touched the one.. but I am sure the other 2 will be soon to follow. No action from any of my other lenders.
  11. Working from home until the end of the month when the company comes back with whether we return to the office or remain at home. I was well equipped to work at home before this -- and I'm an introvert - type B etc etc.. social distancing is perfectly fine for me. Besides that.. we all have each other on here !
  12. BTW... cash or checks are the same thing 😉
  13. Most around here don't have to go the 3% cash discount route anymore, it is no longer against the rules to charge a credit card fee. I asked Window World about a cash discount and they told me they didn't do that.. same price for handling cash as credit for them. I would have much rather received a $60 discount than $30 in rewards (1.5% through my PenFed Visa) - so they ran my Visa.
  14. Same here... I've been having major renovations done to my house by an independent general contractor .. not only is he an old time friend of the family, but yeah, it's pretty standard that most of these folks will add 3% if you want to use a credit card. I also write them when making charitable contributions - easier for me to keep track of . so Yeah, I still use checks.. just not in the retail environment.
  15. I've had their card since 2006 .. it got converted... after a few years ...to a Visa, now it's a MC... my limit is $15k. Last increase I show was $2k in May 2017. The most I've ever charged on there is around $75 . Oftentimes is $10-15 every now and then just to keep it active. Our stores sell furniture, and housewares etc.
  16. Citi has something similar now called "Flex Plan".. (not available on all of their card products) they are converting a portion (?) of your revolving credit limit to an installment type loan. I guess these plans are useful if you need help figuring out how to pay off a credit balance in a certain amount of time.
  17. Not to mention they extended the warranty on my refrigerator from 2 years to 4 - no additional charge. All for putting it on their Visa card. It is good for some things.
  18. Dress Barn is expensive.. and I'm talking about the outlets, which are really the only stores I've been in...
  19. Just order them from your bank directly.
  20. I would shoot for a 0% BT credit card rather than a personal loan. I have a score around 790-800 and the one time I thought a personal loan was a better idea than a cc... they came back with 12.99% I went to Citi and they gave me the $5000 at .99% for 18 months.
  21. You have to reapply. Most of these store cards are shutting you down after 6 months of non use.
  22. How about a whole generation of insecure middle aged adults/single parents who are NOT READY for their kids to leave the nest because they themselves are dysfunctional, unable to make real friends or have a life outside of their kids.. so they turn their kid into their best friend. My ex is like that (our 28 y/o son still lives at home with dad because dad makes him feel guilty for wanting to leave); a co-worker of mine who is doing something similar to her soon to be 18 year HS graduate... "my best friend".. making the kid feel guilty for "abandoning" them, Yes it's real and it exists. My son has a decent job, is good with money and has no debt, but his dad won't let him leave. Makes me sick.
  23. IMHO if you pass away ahead of him, the house can be sold, equity taken and he moves back to the UK Bottom line, even if the mortgage is paid off - there are still expenses and you claim he'll have no $$ .. no SS and no income. I may be missing something here however.
  24. I am lucky to have both 401k and pension. The company did away with offering pensions a couple of years ago and bumped up the amount they contribute to 401k.. to 100% match through 6%. I am still grandfathered in under the original retirement plan .. the pension ....and get the 401k 50% match to 6% as well. But you can't force someone to save. For at least half of my 30 plus year career, I am sure I did not save more than 2-3% (dumb); but for quite some time I have been at 6%+ (at 9% now, plus the 50% match to the first 6%). I have been well into 6 figures for quite some time and with - what I consider to be .. not a lot of effort. Here's the clincher.. everything I have done for myself was done because I want to retire at 60. I don't see putting anymore than 10% of my own $ into the 401k .. because I am trying to fast track paying down the mortgage in the next 5 years or so. While I really don't see people dumpster diving, I do know that a LOT of my friends/acquaintances with zero in retirement and no pensions.. expect to work until they die. They seem to be aware that they will never be able to live off of SS. But they are too busy taking vacations every other weekend, buying or leasing a new car every 2 years... and/or funding adult children's fancy lifestyles. Very sad indeed.

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