My biggest question is: Did you expect them to ask you for money one day, or is this out of the blue? Like, is there some sort of cultural precedence and/or expectation-setting conversation you had with them? Because if it was expected, then okay, sure. Help them out where you can, but don't give them more than you can afford (i.e., not $5k, which is more than you can afford). But something about this letter makes it sound like it was out of the blue, and in that case, this feels preeettty exploitative to me. What the hell parent wakes up one day and asks their (figuratively) indebted kid for $5k when they only have $8k to their name? My /r/raisedbynarcissists senses are telling me these people might be assholes in more ways than this one isolated request. I don't like it.
@andnowlights Huzzah for a new IRA!
Wow, lots of unnecessary stress! Tell people your aunt is a CPA and she does your taxes. Problem solved. If it's any consolation, most rich people don't earn their money any more than you earned your inheritance. Privilege and luck earn big salaries more than hard labor and long hours. You're a boring, normal rich person by all counts.
I'm trying my hand at backpack-only travel for a conference next week and the packing cubes are just what I was missing. Just ordered from Amazon. Thanks for the tip, all!
@sayevet Here you go!
Everyone get married! It's great for taxes! We take home $6k/month, and our bill for 2014 was about $7,500. We did a little sheltering this year (~$15k), but not the max (this year!).
Well, the good news is that the 1,700 employees who got axed at Target HQ got themselves 15 weeks of severance + 6 months of health insurance. Not bad, as far as pokes in the eye go.
@JNC Musings Factory The market is doing better than 6.8% right now. If the market beats his interest rate by 2% for 10 years, he'll come out ahead something like $10k. Seems like small change for holding onto a six figure liability. I gotta agree with you that he's getting crummy advice.
On In Which I Answer a Question About Marriage and Finances That 'Call Your Girlfriend' Asked Us in October
@Lemon Yes! It's absurd to me that any couples split anything 50/50 (unless they make the same amount, that is). I would apply this to rent and utilities too, not just discretionary spending.
@PeggyDear Yeah, the high-deductible plans are meant to protect you from bankruptcy. The theory is that most people can weather $5k worth of expenses, even if it hurts, but you'd never come back from $150k in medical expenses. It's super easy to rack up an unmanageable bill, no paralysis required. My wife and I did $30k in damage last year with a tiny minor surgery and some diagnostic stuff. Nothing even happened! We're not even sick! $30k! A high-deductible plan shields you from $25k in expenses in that case. Totally worth it.