And they still would have 100% access and rights to the entire balance anytime they want without your approval.

Go to a new bank. Start a new account. Get your name off the old account. If you want to set up a regular/irregular emergency money transfer to the old account, that might also help the transition. New spouse gets the information, too.

Good luck, and "waytogo!" from some stranger on the internet, for being such a thoughtful person.

I mean…. If you have the money, just leave it. Why you gonna screw ur mom over. You’ve already been established as the family life boat, so she’s going to perceive it as you abandoning her for your husband. You’ve dug yourself a hole, just let her mooch as long as it doesn’t constrict your happiness.

Does you future husband know about this ?

Debt snowball. Highest interest rate first. However, i remember correctly, aren't interest rates frozen due to biden? If that is the case, throw every dollar at the largest principle.

Those same people would be up 44% over the last 5 years still

Because I felt like it is a whole reason. You don't owe ANYONE an explanation of what you do with your money or where you keep it.

If you care about money, always pay off the debt with the highest interest rate while paying the minimum on all others.

If you don't care about money, do whatever brings you the most joy.

​

>Dave Ramsey says to pay the smallest debt first

Dave Ramsey says a lot of stupid things. He also says you can expect to get a 12% return on investments.

He does this to encourage people to save and invest. I applaud the goals. It's a shame he feels the need to lie in order to encourage his listeners. I prefer to tell people the truth.

> Maybe show some real life examples of middle class families that got out of control with financing toys and wants… and then ended up in dire situations.

I showed a few videos of Caleb Hammer on YouTube, where he does financial audits on others. One was a married man where him and his wife combined made >$200k, yet he owed I think $40k in back taxes; another was a 24yr old entrepreneur who was living paycheck to paycheck (even after his father being his landlord and giving him a steal on rent).

Yeah, just link your local account to Marcus. Initiate the transfer from Marcus and they'll pull the funds from your bank.

Marcus has a very high ACH transfer limit ($125K/day push and $125K/day pull and you can call to get that increased), so moving $40K in a single transaction should be fine and is perfectly legal. My only caveat in general is make sure you don't need that money right away. With some banks, they may put a hold on the money for a period of time (may be up to 10 days or less) before you can then spend or move the money again. This is typical when you're a new account or are moving really large sums of money and this isn't specific to Marcus.

Thus if you need any of that $40K, it may be smart to keep a small portion at the old bank first and wait till the initial transfer clears before moving the funds over.

In short, yes disconnect. You're and adult and they are not your dependents.

If you want to help them, write a check.

Thanks for this document!

Are you trying to calculate the annualized yield, or an APY?

Annualized yield: (4000/3986)^(365/28) -1 = 4.68%

APY: (4000/3986 - 1)(365/28) - 1 = 4.58%

Thanks for the input never considered a lemon possibility.

I hope you tell your boyfriend/fiance all of this and soon.

I hate to be the asshole, but if I were the partner of a person in this situation, I would strongly think twice before investing my future into this scenario.

As good and understanding of a person they might be, I see this causing arguments and strife in your future life.

There is absolutely no reason why you as a grown adult should still have your parents (or anybody except your life partner) on your bank account(s).

You said it yourself, your mom literally takes money from you without asking.

To me it sounds like you know the correct answer, but just want the masses to tell you that it is okay to remove them. And, I understand. That is okay. We all need that sometimes.

1,000,000 of people live on low income. You yourself said, they are not "poor" but not "well off." They need to learn how to budget and live within their means. 1,000,000 of people don't cook lavish meals for holidays. Your parents were accustom to a certain life style and now want you to support that lifestyle now that they cannot.

Believe me, I know first hand, it is hard to draw the line and not help your parents when they need it. But, unfortunately, no matter how good of people your parents may or may not be. It is very very easy for people to get accustom to and assume that their kid or uncle or whoever will bale them out when needed. I feel this has already happened since your mom now just takes the money and then tells/asks you. And, guilt tripping. Please. That speaks volumes. Why would a guilt trip even be necessary if the request was not legitimate.

What happens when you and your future partner want to buy a house or go on vacation or maybe one of your loose their job. What happens when you are in financial stress.

I am fine helping whoever needs help. In fact, I probably get taken advantage of way more than I like to admit. But, when the line of helping and assumption get crossed, I cannot help but feel I am now being used.

YMMV

Not sure if everyone has the same fund lineup at Health Equity or not, but they can't even properly identify if the funds they offer are actively or passively managed. They have always shown the Vanguard Target Funds as actively managed. They used to list all Vanguard funds as passively managed even though they sold the Vanguard Wellesley Fund, which is definitely actively managed.

I could never figure out their corporate structure enough to know which entity to report and what agency to report them to. I don't think it rises to the level of fraudulently misrepresenting securities, but it must be close.

I will go further. Do not have joint accounts with anyone unless your married. Even then keep nonmarital asserts separate.

Some people here are recommending that you leave the account open with only $100 in it, but I would advise against that. They will overdraft that account and then you will have to pay fees. Open a new account with a new credit union, move your money into that account, and then notify your parents that you need to close the current account. Do not give them the opportunity to clear out the account before you move the money. If you are willing to still give them money from time to time, let them know you can Venmo them the cash. Honestly, I think you need to stop giving them money except for your portion of the cell phone bill. They need to learn to live within a budget.

You absolutely should not be financially connected via a shared account to your parents. You have exposure to their financial misadventures so tell that bank you want to remove yourself completely from that account. Give them money if you want but you need to have financial and credit reporting history separate from your parents.

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There is no compounding on a T-bill.

You have to get more refined. Use days, not months. Include cents and fractions of a cent. You didn’t buy at $99.65, it’s like $99.65113 (or whatever, I didn’t look yours up for the exact)

See top of page 2 here:

https://www.treasurydirect.gov/instit/annceresult/press/preanre/2004/ofcalc6decbill.pdf

Oddly enough, I forgot about the 6mo I was in MA years ago - bringing me up to 4 complexes in 3 states over the last 6 years where they never asked for last months rent up front.

Yes.

Make sure you have w beneficiary listed in the event of your passing.

But get your folks off. There is no reason for it.

Correct. You won’t know the exact yield/interest rate until after the auction. But it will be close to the values listed on the website

https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates&field_tdr_date_value_month=202302

And new tires since they said they were bald, likely 7 years old with 40k miles on them.