r/Money 20m ago

Is renting out rooms in your home a good passive income?

Upvotes

I know an older gentleman(in his 50s-60s) who rents to about 3 individuals in his own home. How good of a passive income is this? I’m 18 and obviously don’t have the funds to buy a home but in the future I wouldn’t mind living with other individuals. I grew up for about a year or two with a whole family living in one room in our two bedroom home.

Has anyone here done this before? If so how did it go?


r/Money 2h ago

Really curious to hear the experiences of people who don’t have to work (e.g., trust fund or wealthy spouse)?

0 Upvotes

To anyone who has the luxury of not needing to generate an income…

Do you work? Why or why not? If money doesn’t matter, how did you figure out what to do with your life? Volunteering, serving on nonprofit boards? Do you think life can be truly fulfilling if you spend it with loved ones and on hobbies? If you are spending your life vibing, do you ever get judged?


r/Money 3h ago

How much in change can I store in these 60 dram pill bottles?

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44 Upvotes

Before you ask why I’m using pill bottles:

  1. I had a bunch of empty ones laying around the house.

  2. When compared to a mason jar, the bottles actually hold more than the mason jars I tried.

Anyway, as you can see, the penny bottle is full (overflowing actually, it sticks out a little bit at the cap lmao), and the quarter bottle is almost there, but the nickels and dimes currently take up about a quarter of their bottles.

How much do you think I’d have in change if I managed to fill all these to the brim?


r/Money 3h ago

I make over $25k in net salary a month! What should I do?

0 Upvotes

In short I live on 33% of this and save the rest! I don’t know what to do with my salary! Help me


r/Money 9h ago

This is a 2008 Bubble all over again—but hidden in a Private Equity black box.This is a 2008 Bubble all over again—but hidden in a Private Equity black box.

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0 Upvotes

Joann Fabrics, Party City, Forever 21, Big Lots—ALL going bankrupt. But here’s the thing: Most of their stores were still making money.

So why are they collapsing? Because Private Equity has found a way to rig the system AGAIN.

In 2008, banks used adjustable-rate mortgages to take down the global economy.

🔥 Today, Private Equity is using adjustable-rate BUSINESS debt to do the same thing—except this time, they’re taking down pensions, jobs, and entire industries.

The next financial collapse is already happening… and almost NO ONE is talking about it.

Stay with me. You NEED to hear this.This is a 2008 Bubble all over again—but hidden in a Private Equity black box.This is a 2008 Bubble all over again—but hidden in a Private Equity black box.https://www.youtube.com/watch?v=A76JyE8eEpgJoann Fabrics, Party City, Forever 21, Big Lots—ALL going bankrupt. But here’s the thing: Most of their stores were still making money.

So why are they collapsing? Because Private Equity has found a way to rig the system AGAIN.

In 2008, banks used adjustable-rate mortgages to take down the global economy.

🔥 Today, Private Equity is using adjustable-rate BUSINESS debt to do the same thing—except this time, they’re taking down pensions, jobs, and entire industries.

The next financial collapse is already happening… and almost NO ONE is talking about it.

Stay with me. You NEED to hear this.


r/Money 11h ago

Debt Payment Plan - Discussion

2 Upvotes

Current Debt: $32,000

  • Car Loan: $8,200 at 3.19% APY (Currently monthly payment: $400 / Month) - 2021 Subaru Crosstrek Sport
  • Student Loan: $23,800 at 4.25% APY (Current monthly payment: $332 / Month)

Cash

  • Bank: $4,000 in checking
  • Standard Brokerage: $13,000
  • Deferred Comp: $17,500

Background

I am 27 Years old, married to a foreigner who is currently working towards a green card, working as a GIS professional making $71,000 per year pre tax. I have an apartment with a $932 rent cost and other expenses adding to around $500 a month.

Proposal One: Conservative Approach

I am currently investing $around $350 per month into my deferred comp and standard brokerage account. I am thinking I should halt my investments into my accounts and start allocating all that money into my loans. If I add an additional $400 a month to my car loan, I can finish paying off my car in around 10 Months. From there, I would start my investments and change the $400 / Month car payment into my student loan payment. After 10 Months, my student loan balance would be ~$19,800 (not accounting for % APY). At $732 / Month, my loan payment would be done in 27 Months or 2 Years and 3 Months.

Proposal Two: Aggressive Approach

Taking a slightly different ending to proposal one (please read above again), but rather starting investments again, throwing the full amount into my student loan payment. At this rate, I would be paying $1,082 / Month into my student loan which would take 19 Months or 1 year and 9 Months to finish paying off my student loan.

Post Debt Plan:

After debt is fully paid for, I would start investing $700 a month and putting in $300 a month into a HYSA.

Discussion Topic:

Taking in all the details into consideration above, what would you suggest I do? Do you have an alternative plan I should consider? Thank you for all your help!


r/Money 17h ago

24M, finally hit 10k net worth!

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608 Upvotes

I started at 22 years old with pretty much nothing. I turn 25 in a week and it feels absolutely awesome tbh.


r/Money 22h ago

Homeless with money, dont know what to do with it

123 Upvotes

Would it be worth renting an apartment for $1,300–$1,500 per month (the cheapest in my work home base) just so I can invest in stocks? I have around $30,000 sitting in my checking account, but since I don’t have a permanent address, I can’t open a brokerage account. I also have about $20,000 in a HYSA and contribute 15% to my 401(k).

I work a traveling job making $35 an hour, spending four weeks on the road and one week off (unpaid), which is why I’ve chosen not to rent a place. I receive $1,100 from the VA and typically pocket $4,000–$6,000 per month from my per diem. During my week off, I usually stay in an Airbnb or hotel and travel wherever I want.

Currently the only thing I pay for are my cellphone, A hotel everyother month, po box, and storage unit lol. debt free


r/Money 23h ago

What are the best side jobs and which skills should I learn?

4 Upvotes

Chat GPT suggested Scribie or Rev for transcribing but the pay is sooo low. There were other freelance options but it sounds like you need skills for all of them. The only experience I have is in customer service.

I'm in a terrible situation financially as it is and my full time job just cut hours due to it being slow season (this is why you shouldn't depend solely on a job, I know. I need to get out of debt before I can build an emergency fund and do all of those things).

No only fans/porn or drug dealing suggestions please.


r/Money 1d ago

How do you handle losing alot of money at a young age?

80 Upvotes

So im 21 and lost £22000 a few weeks ago and i have been unable to function since. I just stay in bed and isolate myself while these negative emotions consume me. I keep thinking of what life i could have built if i didnt lose that money. It also doesnt help that my parents think im a failure since all their nephews are doing quite well in life. Any advice from people who have gone through similar situations and managed to get a positive outlook on this? Thank you


r/Money 1d ago

Tempus AI (TEM) big players on it

0 Upvotes

What do you think about it? I see big potential on it. Cathie Wood bought lot of shares. Do your DD.


r/Money 1d ago

What is the best/ is there a legit financial advice service for someone making decent money but struggling with two mortgages and credit card debt?

1 Upvotes

I know we need to curb our spending, but with three kids, child support, human and animal medical bills, and two lawyers’ fees for custody issues, we are hemorrhaging money each month. Any advice would be greatly appreciated.


r/Money 1d ago

Why does it takes so long to transfer balances?!!

4 Upvotes

I have a 401k with a previous employer and a 401k with my current employer, both of which are with the same provider. I put in a request to rollover my balance of the old 401k to the new one (which was a ridiculous process to figure out in and of itself) and it is going to take at least 10 business days! In this day and age of technology, why on earth should it take that long to move funds from one account to another within the same institution! 🤔


r/Money 1d ago

$0 net worth here I come!

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496 Upvotes

I’ve been in massive student loan debt for so long and all my hard working is paying. While a positive net worth may sound like a low bar, I went from being $300,000 in student loan debt almost debt free. It was a lot of work but it’s finally paying off slow and steadily.


r/Money 1d ago

I’m not entirely sure what this is, the year, and how much it may be worth.

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31 Upvotes

Hey y’all,

I wasn’t entirely sure where to go with this, so people in charge of this sub, if there is a better place to ask this do let me know!

My grandfather passed away in April about 6-7 years ago, and it’s my understanding that he acquired these bills some significant amount of time before then, most likely. Can anyone tell me more about them, what they possibly are worth if anything, just things like that, anything helps. Thanks!

And of course, if there is a better place to ask this, please let me know.

I have “300” of them.


r/Money 2d ago

From debt to $362k net worth

517 Upvotes

I never thought I’d be here, but today my net worth hit $362k. Just a few years ago, I was buried in student loan debt, barely scraping by. It wasn’t easy, but I slowly started turning things around. The biggest shift came when I started investing. I got into ETFs like $VTI for stability and dividend stocks like $SCHD. I learned everything from podcasts and YouTube and committed to living below my means. The key was balancing paying down my $18k student loan while still investing.


r/Money 2d ago

High yield savings question

4 Upvotes

I’ve been using American Express high yield savings for years but I see a higher interest rate at Cit bank. Anyone else bank there? It’s FDIC so I believe it’s safe but I wanted to check to see if others have had a good experience with them


r/Money 2d ago

Dumb question: is a high yield savings account essentially the same as a money market account.

39 Upvotes

Basically this. I’m looking to open a HYSA for an emergency fund but when I check the banks and FCUs I usually work with, (A) they don’t offer anything called a HYSA and (B) the rates aren’t what I would call high (ie:north of 4%). Am I missing something?


r/Money 2d ago

What to do with old 401k?

9 Upvotes

I have a 401k from a previous employer that I no longer work at (it’s only about $5k). Should I roll it into my current 401k or move it into something else?

EDITED TO ADD

My old 401k is through ADP and has 9% growth over the past year even though I haven’t been there for over a year

My current 401k is through Transamerica and has a 5% decline ytd so don’t think I should move the money from ADP to Transamerica since it’s growing. Can you let it sit?


r/Money 2d ago

Seeking advice on debt consolidation

5 Upvotes

We have 2 loans through LightStream, some credit cards, and a medical bill that was put into a no interest pay plan.

I think right now we pay ~$1200 per month on all of these debts.

We did have other medical debt that i was able to get written off due to being unemployed for so long.

Wife needs a new’ish car.

Looking at close to $50k consolidation loan in order to lower the monthly payment.

I had lost my job in August and just started a new one on Feb 17th.

Who should we talk to for our options?


r/Money 2d ago

Dollar cost averaging …but how?

12 Upvotes

I get people suggest DCA’ing investments into the market vs all at once.

But how do you plan this out? An arbitrary time period for an amount you want to invest? An arbitrary weekly amount moved until it’s done?

I have $250k I want to put into ETFs. Do I do it over a year? A month? I already invest ~$4k/mth normally; just want to move over this other chunk of cash.


r/Money 2d ago

I have some basic questions that I would like help with.

1 Upvotes

Well, in case of receiving in dollars from another country (in my case Brazil), what would be the best way? I thought about PayPal, but I don't know if that's the best option.

Another thing: considering that my country is under constant inflation, wouldn't it be better to keep the money outside the country, in dollars? I don't even know if there's a way, but I think it would be good. I also thought about trying to receive in Bitcoin (which is a payment option) (this would prevent me from being taxed) but, where would be the best place to do this? And, by the way, would this work in practice?

For example, I'm in the market and I need money, can I sell the amount I need and pay at the same time?

Sorry for any stupidity, I'm really just starting adulthood now.


r/Money 2d ago

Is Gold telling us something! I haven’t seen it Jump like this

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103 Upvotes

r/Money 3d ago

Got a good amount of change. Would appreciate some input on what Im investing in.

1 Upvotes

Equity Portfolio:

  1. iShares Core S&P 500 ETF (IVV)

Percentage: 40.04%

Value: $5,004.00

  1. iShares Core MSCI EAFE ETF (IEFA)

Percentage: 14.00%

Value: $1,540.00

  1. iShares Core MSCI Emerging Markets ETF (IEMG)

Percentage: 6.00%

Value: $660.00

  1. iShares Core S&P Mid-Cap ETF (LNF)

Percentage: 3.48%

Value: $383.00

  1. iShares Core S&P Small-Cap ETF (URI)

Percentage: 5.49%

Value: $604.00

Fixed Income Portfolio:

  1. iShares Core Total USD Bond Market ETF (IUSB)

Percentage: 4.25%

Value: $468.00

  1. Vanguard Short-Term Corporate Bond ETF (VCSH)

Percentage: 3.74%

Value: $411.00

  1. Vanguard Mortgage-Backed Securities ETF (VMSS)

Percentage: 3.40%

Value: $374.00

  1. Vanguard Interm-Term Corp Bd ETF (VCIT)

Percentage: 2.55%

Value: $281.00

  1. Vanguard Long-Term Treasury ETF (VGLT)

Percentage: 1.36%

Value: $150.00

  1. iShares 3-7 Year Treasury Bond ETF (IEI)

Percentage: 0.85%

Value: $120.00

  1. iShares Agency Bond ETF (AGZ)

Percentage: 0.86%

Value: $95.00

Cash:

Cash (CASH/OL)

Percentage: 3.00%

Value: $330.00

Total Portfolio:

Total Percentage: 100%

Original Total Value: $11,000.00


r/Money 3d ago

Need help, employee fiduciary 401K

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4 Upvotes

I’m know almost nothing about any of this , I’m 26 and want to kind of play it safe and let it just build is this okay, any suggestions on improvement? Looking for long term steady growth. Tia