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Where was the huge scandal in the Wells Fargo scandal? | The Wells Fargo scandal was and still is a big deal because Wells Fargo opened over 1.5 million unauthorized bank and credit card accounts. The credit card accounts were opened without authorization, which means people's credit scores and reports were pulled without permission. That is considered fraud and identity the... |
Debt collector has wrong person and is contacting my employer | Assuming you're in the US, you can file complaints against financial institutions (including debt collectors) through the Consumer Financial Protection Bureau. The link to debt collector complaints is: http://www.consumerfinance.gov/Complaint/#debt-collection |
In Canada, can a limited corporation be used as an income tax shelter? | (Disclaimer: I am not an accountant nor a tax pro, etc., etc.) Yes, a Canadian corporation can function as a partial income tax shelter. This is possible since a corporation can retain earnings (profits) indefinitely, and corporate income tax rates are generally less than personal income tax rates. Details: If you ow... |
Which is the better strategy for buying stocks monthly? | To optimize your return on investment, you need to buy low and sell high. If you knew that one stock had hit rock bottom, and the others had not, buying the low stock would be the best. However, unless you can predict the future, you don't know if any individual stock has hit the bottom, or if it will continue to drop... |
Multiple SEO companies claiming I have a past-due invoice | Reading stuff like this makes me want to go into the debt collection business. Just send letters to random people demanding money. Sounds like an easy way to make a living. What's your name and address? Just kidding. If they are sending stuff to a Virginia PO Box, close the box with no forwarding address and consider i... |
Dollar-cost averaging: How often should one use it? What criteria to use when choosing stocks to apply it to? | Why do people keep talking about 401K's at work? That is NOT dollar cost averaging. DCA refers to when you have a large sum of money. Do you invest it all at once or spread it out over several smaller purchases over a period of time? There really isn't a "when" should I use it. It is simply a matter of where your ... |
Why might it be advisable to keep student debt vs. paying it off quickly? | Congratulations for achieving an important step in the road to financial freedom. Some view extending loan payment of loans that allow the deduction of interest as a good thing. Some view the hit on the credit score by prematurely paying off an installment loan as a bad thing. Determining the order of paying off multi... |
Is it OK to use a credit card on zero-interest to pay some other credit cards with higher-interest? | good vs "bad" debt in the context of that post. At least in the UK this can be a good tactic to reduce the cost of credit card debt. Some things to consider |
What is this fund? | SMID CAP FUND is Fidelity's way of saying SMALL to MID CAP FUND. Small to Medium is self explanatory. Cap is capitalization, and it basically means how much the sum of all the existing shares of the company are worth. Fidelity names the funds inside their 401k plans according to who provides the fund. They also pro... |
Why can't you just have someone invest for you and split the profits (and losses) with him? | This means that if your capital under my management ends up turning a profit, I will keep half of those profits, but if I lose you money, I will cover half those losses. The bold part is where you lose me. This absolutely exists with the exception of the loss insurance. It just requires a lot more than the general ret... |
How can I deal with a spouse who compulsively spends? | Perhaps it seems harsh, but I would get separate accounts: credit cards, savings, retirement, all the way down the line. Your only joint account should be for paying mortgage/rent and other bills. And as another poster said, delete all your saved info from browsers &c. Perhaps you even need to set up separate user i... |
Opening a Roth IRA account, what is the fee structure for Vanguard, Scottrade and TIAA-CREF | This answer is somewhat incomplete as I don't have definitive conclusions about some parts of your question. Your question includes some very specific subquestions that may best be answered by contacting the investment companies you're considering. I don't see any explicit statement of fees for TIAA-CREF either. I su... |
Is there an online cost-basis calculator that automatically accounts for dividend re-investments and splits? | Reinvestment creates a nightmare when it comes time to do taxes, sadly. Tons of annoying little transactions that happened automatically... Here's one article trying to answer your question: http://www.smartmoney.com/personal-finance/taxes/figuring-out-your-cost-basis-when-youve-lost-the-statements-9529/ You could also... |
What ways are there for us to earn a little extra side money? | I don't know what you program during the day, but you could always try your hand a programming for iPhone, Android or Blackberry. Just spend an hour or two a night on a simple but useful application. Find something that matches a hobby interest of yours and come up with an app that would be beneficial to people of th... |
Is paying off your mortage a #1 personal finance priority? | You say A #1 priority, that implies multiple #1 priorities. Long term or medium term my goal is to pay off the mortgage. But short term paying off the mortgage isn't a concern. Some people are comfortable with a mortgage during retirement, others aren't. When I was younger the mortgage concern was not being overextende... |
What is a “closed-end fund”? How is a closed-end fund different from a typical mutual fund? | A closed-end fund is a collective investment scheme that is closed to new investment once the fund starts operating. A typical open-ended fund will allow you to buy more shares of the fund anytime you want and the fund will create those new shares for you and invest your new money to continue growing assets under mana... |
Tax implications of restricted stock units | My friend Harry Sit wrote an excellent article No Tax Advantage In RSU. The punchline is this. The day the RSUs vested, it's pretty much you got $XXX in taxable income and then bought the stock at the price at that moment. The clock for long term gain starts the same as if I bought the stock that day. Historical side... |
Is Real Estate ever a BAD investment? If so, when? | Real estate is always an interesting dynamic. In most cases prices have always gone up. Price is mainly a function of demand. Sometimes demand is artificially inflated over a short term period and can come down quickly due to corrections. During recessions the housing market will usually slow down. There are some... |
How should my brother and I structure our real estate purchase? | Because this question seems like it will stick around, I will flesh out my comments into an actual answer. I apologize if this does not answer your question as-asked, but I believe these are the real issues at stake. For the actual questions you have asked, I have paraphrased and bolded below: Firstly, don't do a real ... |
I am the sole owner of an LLC. Does it make a difference if I file as an S-Corp or a sole-member LLC? | I'm assuming that when you say "convert to S-Corp tax treatment" you're not talking about actually changing your LLC to a Corporation. There are two distinct pieces of the puzzle here. First, there's your organizational form. Your state, which is where the business is legally formed and recognized, creates the LLC or C... |
How accurate is Implied Volatility in predicting future moves? | A change in implied volatility tells us something about what investors are thinking (or fearing) about the volatility going forward for the life of the associated option contracts (which may be short or long-lived). IV does a good job of summarizing the information available to investors, which includes information ab... |
How does the purchase of shares on the secondary market benefit the issuing company? | First, the stock does represent a share of ownership and if you have a different interpretation I'd like to see proof of that. Secondly, when the IPO or secondary offering happened that put those shares into the market int he first place, the company did receive proceeds from selling those shares. While others may prof... |
How to dollar-cost-average with a large amount of money in a savings account? | DCA is not 10%/day over 10 days. If I read the objective correctly, I'd suggest about a 5 year plan. It's difficult to avoid the issue of market timing. And any observation I'd make about the relative valuation of the market would be opinion. By this I mean, some are saying that PE/10 which Nobel prize winner Robert Sc... |
Why would a long-term investor ever chose a Mutual Fund over an ETF? | http://www.efficientfrontier.com/ef/104/stupid.htm would have some data though a bit old about open-end funds vs an ETF that would be one point. Secondly, do you know that the Math on your ETF will always work out to whole numbers of shares or do you plan on using brokers that would allow fractional shares easily? This... |
Explanation on Warren Buffett's famous quote | In the short term the market is a popularity contest In the short run which in value investing time can extend even to many years, an equity is subject to the vicissitudes of the whims by every scale of panic and elation. This can be seen by examining the daily chart of any large cap equity in the US. Even such large ... |
Job Offer - Explain Stock Options [US] | There are a few other items that you should be aware of when getting options: The strike price is usually determined by an independent valuation of the common shares (called a 409a valuation). This should give you a sense on what the options are worth. Obviously you are hoping that the value becomes many multiple of th... |
Can the IRS freeze a business Bank account? | If the business is legally separated and not commingled - they probably cannot. What they can do is put a lien on it (so that you cannot sell the business) and garnish your income. If the corporate veil is pierced (and its not that hard to have it pierced if you're not careful) - then they can treat it as if it is your... |
Why buy insurance? | People's value of money is not always linear. Consider an individual with $1000 in the bank. I'm going to look at amounts of debt by orders of magnitude: Now its pretty easy to see a order of magnitude increase in impact from $100 to $1000, and it becomes slightly worse for the $10,000 case due to debt. However, one... |
Is there a candlestick pattern that guarantees any kind of future profit? | John Person has a pattern called the High Close Doji that is probably the most reliable signal in the world of candle patterns. I would check out Candle Stick and Pivot Point Trade Triggers. It all I use in trading stocks + forex. |
How did I end up with a fraction of a share? | Fractional shares don't occur from Dividend Reinvestment Programs - residual credit is carried over until there is enough to purchase a whole share. |
Why don't banks print their own paper money / bank notes? | Are you talking about printing up more of the same kind of bill, or printing up a different kind of bill? You'll have different answers based on which one you mean. If it's a different kind of bill: Governments don't like competition in this matter. In US history there are examples of the government shutting alternati... |
Is it a good idea to get an unsecured loan to pay off a credit card that won't lower a high rate? | Take the consolidation loan and pay it off. Don't close the card. Opening a new account will have no bearing on your mortgage a year or two down the road. Keep paying on time -- that will make a big difference! JohnFX's suggestion to open a new card and do a transfer is a great idea if you have good credit. Just read ... |
Vanguard ETF vs mutual fund | One reason is that it is not possible (at Vanguard and at many other brokerages) to auto-invest into ETFs. Because the ETF trades like a stock, you typically must buy a whole number of shares. This makes it difficult to do auto-investing where you invest, say, a fixed dollar amount each month. If you're investing $1... |
Paying Off Principal of Home vs. Investing In Mutual Fund | Other answers are already very good, but I'd like to add one step before taking the advice of the other answers... If you still can, switch to a 15 year mortgage, and figure out what percentage of your take-home pay the new payment is. This is the position taken by Dave Ramsey*, and I believe this will give you a bett... |
As an investing novice, what to do with my money? | I'd keep the risk inside the well-funded retirement accounts. Outside those accounts, I'd save to have a proper emergency fund, not based on today's expenses, but on expenses post house. The rest, I'd save toward the downpayment. 20% down, with a reserve for the spending that comes with a home purchase. It's my opinio... |
Valuing a small business to invest in | There is nothing fair / unfair in such deals. It is an art than a science. what kind of things should be considered, to work out what would be a fair percentage stake A true fair value is; take the current valuation of the company [This can be difficult if it is small and does not maintain proper records]. Divide by n... |
Is it possible to make money by getting a mortgage? | I think this is possible under very special conditions. The important part of the description here is probably retired and rich. The answers so far apply to people with "normal" incomes - both in the sense of "not rich" and in the sense of "earned income." If you sit at the top tax bracket and get most of your income... |
Do I owe taxes if my deductions are higher than my income? | There's one factor the previous posters apparently missed here: You say "self-employment tax"--in other words, at least some of that $16k is from self employment. In a normal employment situation the FICA tax is taken out of your paycheck, it's normally spot on and generally doesn't show up on your tax return. However... |
Do altcoin trades count as like-kind exchanges? (Deferred capital gains tax) | In June 2016 the American Institute of CPAs sent a letter to the IRS requesting guidance on this question. Quoting from section 4 of this letter, which is available at https://www.aicpa.org/advocacy/tax/downloadabledocuments/aicpa-comment-letter-on-notice-2014-21-virtual-currency-6-10-16.pdf If the IRS believes any p... |
How much is inflation? | FYI...prices don't always go up. Inflation is a monetary phenomenon. I'm simplifying greatly here: if more money is printed (or the money supply increases through fractional reserve banking) and it is chasing the same amount of goods then prices will go up. Conversely, if money is held constant and the economy becom... |
Can you sell a security through a different broker from which it was purchased? | I'm in the US and I once transferred shares in a brokerage account from Schwab to Fidelity. I received the shares from my employer as RSUs and the employer used Schwab. After I quit and the shares vested, I wanted to move the shares to Fidelity because that is where all my other accounts are. I called Fidelity and ... |
Buying a multi-family home to rent part and live in the rest | The biggest question is do you want to be a landlord? There are a lot of ups and down to managing property from bad tenants to having to fix a water heater or replace a fridge. If you aren't interested in being a landlord, it is definitely a bad idea. If you do want to be a landlord, then the question is how close ... |
Advantages of paying more of your mortgage while you know you won't continue to live there your whole life | Another factor: When you sell this house and buy the next one, the more equity you have the easier the loan process tends to be. We rolled prior equity into this house and had a downpayment over 50%--and the lender actually apologized for a technicality I had to deal with--they perfectly well knew it was a basically ... |
Why don't companies underestimate their earnings to make quarterly reports look better? | You need to distinguish a company's guidance from analysts' estimates. A company will give a revenue/earnings guidance which is generally based on internal budgets. The guidance may be aggressive or conservative - some managements are known to be conservative and the market will take that into account to form actual e... |
Mortgage sold to yet another servicer. What are my options? | Are my mortgage terms locked in? Who oversees this? Yes your terms like rate, balance, penalties, due dates, are all covered in the mortgage documents. Those will not change. If the mortgage is an adjustable or has a balloon payment those terms will be followed by the new company. That being said, mistakes can be made.... |
Will my wife's business losses offset my income on a joint tax return? | First, filing status. If you and your wife are legally married, you should be filing your tax returns as married, either jointly or separately. In the US, "head of household" has a specific meaning and is for unmarried people who are supporting one or more relatives, per the IRS. If you are working full-time and your w... |
What is the best way for me to invest my money into my own startup? | It will depend somewhat on the rules where the company is formed, and perhaps how much you're talking about investing. I don't know about Canada, but when I've formed businesses in the U.S., I've been advised to invest some of the money as an equity investment, and the bulk of the remainder as a loan. You say "more sha... |
How can I invest in an index fund but screen out (remove) certain categories of socially irresponsible investments? | It would involve manual effort, but there is just a handful of exclusions, buy the fund you want, plug into a tool like Morningstar Instant X Ray, find out your $10k position includes $567.89 of defense contractor Lockheed Martin, and sell short $567.89 of Lockheed Martin. Check you're in sync periodically (the fun... |
Do dividend quotes for U.S. stocks include witheld taxes? | No. As a rule, the dividends you see in the distribution table are what you'll receive before paying any taxes. Tax rates differ between qualified and unqualified/ordinary dividends, so the distribution can't include taxes because tax rates may differ between investors. In my case I hold it in an Israeli account but th... |
What should a 21 year old do with £60,000 ($91,356 USD) inheritance? | I assume you've no debt - if you do then pay that off. I'd be tempted to put the money into property. If you look at property prices over the past 20 years or so, you can see returns can be very good. I bought a house in 1998 and sold it in 2003 for about 110% of the purchase price. Disclaimer, past performance is n... |
Should I wait to save up 20% downpayment on a 500k condo? | As I've crunched numbers towards what my family could afford for a down payment (in an area with similar housing costs - don't you hate that high cost of living?), I've come up with the following numbers: We may be missing some area of expenses, but in general I think we are being fairly conservative. You should consi... |
Looking to buy a property that's 12-14x my income. How can it be done? | What options do I have? Realistically? Get a regular full time job. Work at it for a year or so and then see about buying a house. That said, I recently purchased a decent home. I am self-employed and my income is highly erratic. Due to how my clients pay me, my business might go a couple months with absolutely no ... |
Should I fund a move by borrowing or selling other property assets? | It is a lot easier to make money when you are not in debt. If you can sell the apartment, get rid of your existing mortgage and buy the new house outright, that is probably the best course of action. |
What is the difference between Protected-equity loan vs Equity loan? | In simple terms : Equity Loan is money borrowed from the bank to buy assets which can be houses , shares etc Protected equity loan is commonly used in shares where you have a portfolio of shares and you set the minimum value the portfolio can fall to . Anything less than there may result in a sell off of the share to p... |
Is there any downside snapping a picture (or scanning a copy) of every check one writes vs. using a duplicate check? | No, there is no downside. I personally don't use duplicate checks. I simply make a record of the checks I write in the check register. A copy of the check, whether a duplicate or a photo, isn't really proof of payment for anyone but yourself, as it is very easy to write a check after the fact and put a different date... |
What economic, political and other factors influence mortgage rates (and how)? | If you owned a bank how would you invest the bank's money? Typically banks are involved in loaning out money to businesses, people, and government at a higher interest rate then what they are paying to depositors. This is the spread and how they make money. If the bank determines that the yields on government bonds i... |
How to distinguish gift from payment for the service? | Generally, a one time thing is considered a gift. For the donor this is obviously not a deductible expense, except for some specific cases (for example promotional gifts under $25 to vendors can be deducted, if you're a business, or charitable contributions to a recognized charity). However, if this is a regular practi... |
Why are banks providing credit scores for free? | An alternative take on the "why" is that most people's credit is better than they think, and all of these banks offer credit products. Put a "good credit" badge next to an ad for a shiny new card or auto refi, and it's just good business. |
Are large companies more profitable than small ones? | There is no general theory to support the notion that larger companies will be more profitable than smaller companies. Economies of scale are not always positive, one can have diseconomies of scale too. It is more common to talk about an optimal firm size, even going back to Stigler's (1958) "The Economies of Scale.... |
Consolidating company pensions | Have you shopped around? I would agree that the fees seem high. The first question I would ask if if the .75% management fee is per year or per month? If it is per month, you will almost certainly lose money each year. A quick search shows that Fidelity will allow one to transfer their pensions into a self direct... |
Are there extra fees for a PayPal Premier account? | Summary: the fees used to differ but no longer do. Fees are the same. If you have a personal account, feel free to upgrade it to premier to get access to more features. Longer answer: the two account types USED to differ but that changed a few years ago (maybe circa 2011?). PayPal wants person-to-person payments to be ... |
Alternative means of salary for my employees | You can't Your problem is that no one will value you new currency call it bytecoin. People will ask why is the bytecoin worth anything and you don't have an answer. You employees will have worthless currency and be effectively making under minimum wage. Its the same as if you printed Charles dollars with your face... |
Why can Robin Hood offer trading without commissions? | Robinhood does offer premium products that they charge for-I suspect we will see more of that in the future. They do not change the bid/ask spread as some have said because they have to give you the NBBO. |
What is the maximum I can have stored in a traditional 401(k) and a Roth 401(k)? | I've never seen anything in any IRS publication that placed limits on the balance of a 401K, only on what you can contribute (and defer from taxes) each year. The way the IRS 'gets theirs' as it were is on the taxes you have to pay (for a traditional IRA anyway) which would not be insubstantial when you start to figur... |
What happens when the bid and ask are the same? | This question is impossible answer for all markets but there are 2 more possibilities in my experience: |
Advice for college student: Should I hire a financial adviser or just invest in index funds? | Exactly what you do with the money depends on various personal choices you'll have to make for yourself. Investing your money in Vanguard index funds such as the ones you mentioned is certainly one smart move. However, I think you're quite right to be suspicious of an advisor with a 1% fee. In many cases, such advis... |
Why do people invest in mutual fund rather than directly buying shares? | How on earth can you possibly know what is going on in individual company X? The sole exception is if it is your own company. The stock markets of the world are in fact a nest of sharks. The big sharks essentially make money out of the little sharks. Some little sharks manage not to be eaten, and grow bigger. Good ... |
Should I deduct or capitalize the cost to replace a water heater in my rental property? (details Below) | Pub 527 my friend. It gets depreciated. Table 1-1 on page 5. |
What should I do about proxy statements? | Whether or not you want to abstain or throw away the proxy, one reason it's important to at least read the circular is to find out if any of the proposals deal with increasing the company's common stock. When this happens, it can dilute your shares and have an effect on your ownership percentage in the company and sha... |
What are futures and how are they different from options? | For futures, you are obligated to puchase the security at $x when the contract expires. For an option, you have the right or option to do so if it's favorable to you. |
Short-term robots and long-term investors in the stock market | Consider the price history to be the sum of short term movements and long term movements. If you hold a stock for a long time you will benefit (or lose) from its long term movement. If a sufficiently large and very good short term trader existed he would tend to reduce short term volatility, eventually to nearly zero.... |
Is it common in the US not to pay medical bills? | My answer might be out of date due to the Affordable Health Care law. I will answer for the way things were prior to that law taking effect. In my experience, hospitals have a financial assistance program you can apply for. If you can show a financial need, the hospital will only charge you a certain percentage of yo... |
As a Canadian, what should I invest in if I'm betting that the Canadian real estate will crash? | If you believe you can time the crash, then We all know what comes after a crash… just as we know what comes after the doom, we just don’t know when…. |
Sole proprietorship or LLC? | The primary advantage is protection of your personal assets. If your LLC gets sued, they can't take your house/car/dog/wife. There aren't really any financial incentives to be an LLC; because of the pass-thru taxing structure, you wind up paying the same in taxes either way. "The cost" will depend on where you're locat... |
Feasibility of using long term pattern on short term investments | When structures recur at different scales, they're called "fractals", and there is something called the "fractal markets hypothesis" which attempts to analyse stock market movements as fractals and in terms of (related) chaos theory. Whether you can profit from it I have no idea. If it was easy, everyone would be doin... |
Why do people take out life insurance on their children? Should I take out a policy on my child? | A $10,000 life insurance policy on a child only makes sense for a family that: Thus, it could make sense: Many families are in this financial situation. A family in the combination of this financial situation and this emotional situation might be well served to seek religious counsel. If they find ways to remember lo... |
Is technical analysis based on some underlying factors in the market or do they work simply because other people use them? | Technical Analysis assumes that the only relevant number(s) regarding a security is (are) price (and price momentum, price patterns, price harmonics, price trends, price aberrations, etc.). Technical is all based on price. Technical is not based on any of the fundamentals. Technical Analysis is for traders (speculator... |
What are the best software tools for personal finance? | For iPhone: iExpenseIt |
Turning 30 and making the right decision with my savings and purchasing home | I love the idea of #1, keep that going. I don't think #2 is very realistic. Given the short time frame putting money at risk for a higher yield may not work in your favor. If it was me, I'd stick to a "high interest" savings account (around 1%). I don't mind #3 either, however, I'd be socking whatever you could to mo... |
What could be the harm in sharing my American Express statements online? | Call me overly paranoid, but letting unknown people know your charges and your personal information is asking for trouble. They know who you are and how to find you and how much money you typically make. If they are decent people - okay, but otherwise they have good ground for comitting a crime against you - blackmail ... |
What are my chances at getting a mortgage with Terrible credit but High income | The bottom line, is that you are doing the right thing now: correcting your past indiscretions. Get those collections taken care of, then start saving for a down payment. Of course, during this time, you should pay your bills early or on time. During that time your credit will improve dramatically. I bet that this w... |
Taxable income on full-time job + business earnings | I'm not sure I am fully understanding the nuance of your question, but based on your answer in the comments you and your business are not separate legal entities. So your income is the full $70K, there is no distinct business to have income. If you clarify your question to include why you want to know this I might be a... |
Is it accurate to say that if I was to trade something, my probability of success can't be worse than random? | The previous answers make valid points regarding the risks, and why you can't reasonably compare trading for profit/loss to a roll of the die. This answer looks at the math instead. Your assumption: I have an equal probability to make a profit or a loss. Is incorrect, for the reasons stated in other answers. However, t... |
401K or Indian CD | As mentioned in the comments, the problem stems with converting your U.S. Dollars to Indian Rupees so as to be able to purchase an Indian fixed deposit. At the time of writing this, 1 U.S. Dollar = 64 Indian Rupees. Consider the following economic factors: Both of the above factors are not definitive but are worth cons... |
Best Practices for Managing Paper Receipts | I store all my receipts digitally, and make sure to input them into accounting program sooner than later, just so I don't forget about it. For practical purposes, the two important things are: Any kind of a digital system makes this pretty easy, even just putting the sums in a spreadsheet and the receipts into files wi... |
Are my parents ripping me off with this deal that doesn't allow me to build my equity in my home? | You are being ripped off on several counts. 1) 40k is 26% not 25%. 2) Why should you pay them $500 rent? they bought a share of the property, they should fund it if they intend to keep 75% 3) Why do you need to pay them for the 75%? why dont they need to pay you for the 25%? You are better off getting a loan for the 75... |
How does historical data get adjusted for dividends, exactly? | If you download the historical data from Yahoo, you will see two different close prices. The one labeled 'Close' is simply the price that was quoted on that particular day. The one labeled 'Adj Close' is the close price that has been adjusted for any splits and dividends that have occurred after that date. For example... |
I can make a budget, but how can I get myself to consistently follow my budget? | Give all your money as well as your budget requirements to someone you really trust. Tell them to give you ONLY what your budget allows. As long as both of you take this seriously, this method will be very effective. |
How to make a decision for used vs new car if I want to keep the car long term? | In a perfect world scenario you would get a car 2-5 years old that has very little mileage. One of the long standing archaic rules of the car world is that age trumps mileage. This was a good rule when any idiot could roll back an odometer. Chances are now that if you rolled your odometer back the car was serviced so... |
Pensions, annuities, and “retirement” | Pension in this instance seems to mean pension income (as opposed to pension pot). This money would be determined by whatever assets are being invested in. It may be fixed, it may be variable. Completely dependant on the underlying investments. An annuity is a product. In simple terms, you hnd over a lump sum of cash a... |
How do you quantify investment risk? | Another approach would be more personalized, which is to measure the risk of missing your goals, rather than measuring the risk of an investment in some abstract sense. Financial planners do this for example with Monte Carlo simulation software (see http://en.wikipedia.org/wiki/Monte_Carlo_method). They would put in a ... |
Scam or Real: A woman from Facebook apparently needs my bank account to send money | This is either laundering money or laundering non-money. All the other answers point out how a cheque or bank transfer will take days to actually clear. That is a red herring! There are lots of ways to illegally transfer real money out of existing accounts. Stolen cheque books, stolen banking details (partly in conn... |
Prepaying a loan: Shouldn't the interest be recalculated like a shorter loan? | When you pay off a loan early, you pay the remaining principal, and you save all of the remaining interest. So you do save on interest, but it's the interest you would have paid in the future, not the interest you have paid in the past. (Your remaining balance when you pay off the loan only includes the principal, not ... |
I have an extra 1000€ per month, what should I do with it? | If I were you, I would save 200 euros for retirement each month and another 800 I would stash away with the hope to start investing soon. I think you have to invest a bigger lump sum, then 1000 euros. It makes sense to invest at least 30K to see any tangible results. My acquaintances started from 50K and now see pretty... |
Which practice to keep finances after getting married: joint, or separate? | My wife and I have a different arrangement. I like to track everything down to the transaction level. She doesn't want everything tracked. We have everything joint and I track everything except she has one credit card where I do not see the statements only the total. She is more comfortable, because she can buy thi... |
Canadian personal finance software with ability to export historical credit card transactions? | Yodlee and Mint are good solutions if you don't mind your personal financial information being stored "in the cloud". I do, so I use Quicken. Quicken stores whatever you give to it for as long as you want: so the only question is how to get the credit card transactions you want into it? All my financial institutions al... |
Capital Gains in an S Corp | These are all factually correct claims. S-Corporation is a pass-through entity, so whatever gain you have on the corporate level - is passed to the shareholders. If your S-Corp has capital gains - you'll get your pro-rata share of the capital gains. Interest? The same. Dividends? You get it on your K-1. Earned income? ... |
What is value investing? What are the key principles of value investing? | Value investing is an investment approach that relies on buying securities below their intrinsic values. There are two main concepts; one is the Intrinsic Value and the other is Margin of Safety. Intrinsic value is the value of the underlying business - if we are talking about stocks - that can be calculated through c... |
Ideal investments for a recent college grad with very high risk tolerance? | Congratulations on being in this position. Your problem - which I think that you identified - is that you don't know much about investing. My recommendation is that you start with three goals: The Motley Fool (www.fool.com) has a lot of good information on their site. Their approach may or may not align with what you w... |
What are non-qualified stock options? | Non-qualified stock options are like regular incentive stock options but without the preferential treatments that ISOs get: Companies like to give NQSOs because they can claim a tax deduction (i.e. a loss) for that difference between exercise price and market price (that you have to report as income). |
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