I hope you see this OP, while everyone is correct, there may be a way to get the $200k distributed to you and your brother (1, if you guys were the contingent beneficiaries or 2, you’re comfortable with it going to probate and using the update will to enforce (but the $/time cost may outweigh the tax benefit your grandda intended).

https://www.broadridgeadvisor.com/kt/HtmlNL.aspx?pvw=52C1D3C9CF34854F895148D8B529D8E229D5B0FDBC71B93A719295EDFA1355167185B41EAE6C088917D7ADA111912687FDD969FA3214C7355C736D7DF5070081E43963CC6D590DDFDA5D2DB7A90B48A49E2C5D09CCC26EB5BE0089A538AE5BE97860BBEA9E25D359CF28D4B0F4CDEFCA

But yes, beneficiary supersedes the will as everyone says.

Yes my house I pay 850ish a year in property tax valued around 415k

I own a house in co springs in 80911 to be exact, I make about 77k a year and my house was 342k out the door. Rate was 3.2% however, I live comfortably. Now at a 6% I could still afford it. You at 127k will be more than comfortable. My bill in winter for gas is high my house is 3x2 two story with a basement 1650 SQFT COS utilities sends me a average bill in the winter for 125$ water is about 60$ for me about 80 in the summer when I water my grass.

https://www.doctorofcredit.com/high-interest-savings-to-get/

https://www.doctorofcredit.com/high-interest-savings-to-get/

The possibility of achieving that goal is so far away it's not even funny. Put that thought on the backburner and focus on righting the sinking ship that is your household situation

Your take home should be like at least 6K so not sure how 2K isn't affordable.

To be clear, your primary vehicle doesn't magically become a business vehicle that suddenly is saving you 100% on your taxes. You can deduct the use of your vehicle that is used on the business.

No such thing as 0% financing as they are not the bank, and they bake it into the price. Negotiate a better price if you pay in full.

Yeah, I’m just gonna call the number the teller gave me. Worst case it’s just this check that I’ve got to wait on since my next will be direct deposited to my new account.

Seems like CU credits your friend for the amount, while Chase bank waits for it to clear.

I think you'd be alright, property taxes are low and insurance isn't too bad either.

You could always add a roommate to help build that buffer

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I believe an $18,000 bill on a payment plan with $136 of monthly fees is similar (right now) to paying back an $18,000 loan at 9% interest (12*136/18000). I was thinking about the possibility of refinancing the bill with debt, but I'm not sure you'd find an unsecured loan for less than 9%. Paying it back with the current plan may be the best option for now.

edit: if the $136 monthly is a flat fee amount, then at $5000, $136 is the same as 32% interest. not sure if refinancing the debt is possible but at some point it may make sense, once it is paid down to the point that the effective rate is higher than credit card rates.

edit2: also, paying the minimum on that bill until it is paid off will take around 12 years (and $18,632 in fees), so getting to a point where you can pay more than the minimum will help a lot since you'll be avoiding that extra $136 per month.

You are in no position to be considering buying a rental property, let alone actually buying one.

Someone else needs to apply for a credit card. Everyone else needs to get a second job.

If you can make a smaller CC payment right now, do it. And forget about the savings account for now. Get the much-needed repair done first, THEN worry about getting out of debt, THEN you can focus on saving.

Well, this family situation is unsustainable. You will never dig yourself out of debt if you take it upon yourself to financially support two non-working adults.

You and your mom each don’t have enough funds to cover an emergency ($2500 for an electrician for example), you should not be putting money into a savings for rental property. You need to get your own houses in order before doing anything like that.

You shouldn't be saving up for far future investments with $16k in credit card debt. Everything beyond your emergency fund should be going to your debt, not far-off dreams of owning rental property.

Whether a bank will cash a check is also dependent on how much you have in that bank. They’re unlikely to immediately cash it if you don’t have at least that much in the account.

I am the only person with a credit card unfortunately! We were hoping to contribute to the joint savings account with the goal of buying rental property one day

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Get that confirmed in writing.

Hi landlord - I want to confirm the money I’ve sent and what it’s for. This is my understanding, please confirm

March 1-31 rent- $650 - paid on <date>

Security deposit - $650 - paid on <date>

February prorated 2/13-2/28 rent - $xxx - not yet paid.

Going forward rent to be paid on 1st of the month. Ie April rent $650 to be paid on 4/1

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