I'm sorry I don't know what that is could you explain?

You're working on one end (raise income).

Try working on the other end (reduce expenses).

Write out your budget.

Write out your expenses.

Decide what can be cut.

Decide what can be reduced.

Decide what is necessary.

Reduce your balance, but since you are asking about this, then that's not feasible obviously. All you can do is ask them, but since the minimums are done by a predetermined formula, it's highly unlikely. You are better off asking for a reduced rate. At least that will slow the bleeding a bit.

Because they make commission on assets under management (AUM). When you remove funds to do other stuff with, their commission goes down. It's really as simple as that.

That's why you see so many threads here asking how to move funds away from EJ to another broker (usually, Fidelity or Vanguard)--no huge annual fees.

I assure you I was not mistaken about my previous score and my bank shows how many points it went down. It changed in less than a week. I just looked at my banks free credit score listing on the weekend.

You're tired of the number?

But idk, honestly I’ll probably just have it rolled over and take it out when we close

You like to read!

Book 1: Simple Path To wealth by JL Collins

Book 2: your money or your life by Vicki robbins

You know what a PB&J is?

Some folks hate jelly and only like PB. So they only buy PB.

Some folks hate PB and only like jelly. So they only buy jelly.

Some folks like PB&J... so they buy both PB and jelly.

PB and jelly can be VOOV and VOOG.

VOO is PB&J.

But what might be even better is just buying the entire supermarket.

And that's VTI/VTSAX

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The job I’m at right now is going to be closing within a couple months. I don’t know if I should even have it rolled over to this because of that

Yes actually, I was considering getting a home loan through our state.

Because EJ cares about their assets under management and when you withdraw, they show less money. Fidelity doesn't care as much and wants to help their customers they way want to be helped first.

Value vs Growth factor. The names may be misleading, value actually has the better expected long term returns.

Look for "blend" funds instead.

Or even better, don't look at S&P 500. Look for total market instead (S&P 500 is a subset of the US total market) and ideally pair it with an extra fund. Total market would give you exposure to the "small" compensated risk factor and adding ex-US would remove the "single country" uncompensated risk factor.

Edit: Typo

Im going to be honest with you, what you’re saying doesn’t make any sense

What do you think rolling over has to do with your job closing?

Thats where you’re losing me

It isn't the credit application that dropped your score 58 points. I don't think your score dropped 58 points in a short amount of time, not that it couldn't but if it did there would be clear reasons for it. Chase didn't run it multiple times. It might not be an error, perhaps you were mistaken about your score to begin with. Perhaps the time period you are talking about encompassed many other events.

I can assure of this, it isn't the credit card application, and if the drop happened, there was a reason.

Have your parents add you as an authorized user to one of their cards. That is the fastest way to build up your credit.

There are ways to access retirement funds even if you retire early.

I have done that but generally you can't pay it off til payment 3. They don't get paid if it is paid off in the first 60 days.

It depends on whether you have any pre-existing pre-tax money in your IRA(s). If there is none, then the conversion is 100% nontaxable because it consists of 100% nondeductible basis from your traditional IRA. If you have existing pre-tax IRA money, then the conversion has to be a proportional mixture of pre-tax and after-tax (nondeductible) amounts, and is taxable in the same proportion.

A lot of ppl do that actually. Vtsax gang

They could get a job. They had the same ability as me to do so. Take out some student loans, get experience, get an internship for more experience. Take shit entry level jobs. Change majors losing credits and taking 7 years to graduate. Work retail for 6 years while going to school.

The problem is that the business playing field is not equal. So because they have lese skills they get paid more? Can't you see how that doesn't really make sense? Maybe I can quit my job in the future but 48k after taxes ain't enough.

VOLATILITY!!!!

If you are ok with it then just dump all your money into 1 fund to rule them all. Then 40 years later laugh all the way to the bank if you end up leaving the market in a positive market

Is that possible? I have to ask my boss if they’re even doing 401K cause they took over in late December

super generic example: why stocks and bonds, and not just stocks?

Often when the stocks are tanking hard, bonds are holding steady or even increasing in value. If the market crashes 50% and your 100K is all stocks, you're now at 50k.

But if you're (for simplicity sake) 50/50 stocks and bonds. when stocks crash 50%, maybe bonds remain flat and you're only down to 75k instead of 50k.

The tradeoff is that bonds don't appreciate in value as fast as stocks can... there's always a trade off. More risk of loss = more reward when things are going well. But more risk when you're older can wipe out a few hundred thousand, RIGHT as you are considering retiring. So diversification helps mitigate these risks. It's just that younger people have more time to recover from these downturns than older folks.