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Is it a good idea to teach children that work is linearly related to income? | My family instilled in me early on that hard work was important, and the output of that work was its reward. My grandparents really made in impression with me about telling the truth and being fair (probably after I was busted for lying and cheating about something) -- I remember my grandfather talking about the solem ... |
Does a failed chargeback affect my credit score? | Credit scores in the U.S. are entirely based on information contained in your credit report. The details of your credit card transactions, such as where your individual purchases are from, the amount of individual purchases, refunds, chargebacks (successful or failed), etc. do not appear on your credit report. Theref... |
Why should we expect stocks to go up in the long term? | Stock returns cannot be evaluated on its own. You need to take into account inflation and the return of other investment vehicles. Over the long run, you want to earn more than your peers (ie inflation), or lose less than them. Stock lets you buy into the profits of a company managed by others. So the fundamental quest... |
Buy home and leverage roommates, or split rent? | Mixing friendship and money, whether that's loans or landlording, is risky. Often things work out, but sometimes the unexpected happens, and it doesn't. If things go wrong, are you prepared to walk away from either the friendship or the money? After you've considered that, the next question is how your roommates feel a... |
is the bankruptcy of exchange markets possible? | You seem to think that stock exchanges are much more than they actually are. But it's right there in the name: stock exchange. It's a place where people exchange (i.e. trade) stocks, no more and no less. All it does is enable the trading (and thereby price finding). Supposedly they went into mysterious bankruptcy then ... |
Calculating theoretical Present Value | If you are using an Excel, the Function PV should be able to easily calculate this. Excel Formulae PV = (Rate,Nper,Pmt,Fv,Type) Where Rate: Rate of return. In this case you can use Inflation or assumed rate that would cost you. Say 3-5%. Note the Rate has to be for Nper. i.e. in Nper if you are counting yearly paymen... |
Should I include my hard assets as part of my net worth? | If the value of these hard assets is significant you probably have them insured, and for significant art work you should have had them appraised as part of getting them insured. Therefore the process of adding them into the net worth calculation would be trivial. Your goals should be a mix of liquid assets, and assets... |
New company doesn't allow 401k deposits for 6 months, what to do with money I used to deposit? | $9000 over 6 months is great, I'd use it for long term savings regardless of the 401(k) situation. There's nothing wrong with a mix of pre and post tax money for retirement. In fact, it's a great way to avoid paying too much tax should your 401(k) withdrawals in retirement push you into a higher bracket. Just invest th... |
How can I determine if a FHA loan refinance offer is from a reputable lender | Start with the list of mortgage companies approved to work in your area. There are 80 within 10 miles of my house, and more than 100 in my county. Pick ones you know because they are established businesses in your area, region, or even nationally. A good place to start might be with your current lender. The risk you ... |
If you own 1% of a company's stock, are you entitled to 1% of its assets? | If you own 1% of a company, you are technically entitled to 1% of the current value and future profits of that company. However, you cannot, as you seem to imply, just decide at some point to take your ball and go home. You cannot call up the company and ask for 1% of their assets to be liquidated and given to you in c... |
Would every FX currency pair or public stock that is under the 30 level using Relative Strength Index (RSI) be an undervalued pair? | No. The long-term valuation of currencies has to do with Purchasing Power Parity. The long-term valuation of stocks has to do with revenues, expenses, market sizes, growth rates, and interest rates. In the short term, currency and stock prices change for many reasons, including interest rate changes, demand for goods ... |
Options for dummies. Can you explain how puts & calls work, simply? | An Xbox currently sells for $200 but you don't have the money right now to buy it. You think the price of the xbox is going up to $250 next month. Your friend works at BestBuy and says he has a "raincheck" that allows you to buy the Xbox for $200 but the raincheck expires next month. He offers to sell you the "rainch... |
Choose online stock trading companies | This very informative link gives a clear and comprehensive comparison (pros and cons) of various popular brokers: https://www.nerdwallet.com/blog/investing/best-online-brokers-for-stock-trading/ (Best Online Brokers for Stock Trading 2016) There are indeed some significant cons for the super-low commission fee. Just fo... |
Can I trust the Motley Fool? | I've had a MF Stock Advisor for 7 or 8 years now, and I've belong to Supernova for a couple of years. I also have money in one of their mutual funds. "The Fool" has a lot of very good educational information available, especially for people who are new to investing. Many people do not understand that Wall Street is in ... |
Is there an advantage to keeping a liquid emergency fund if one also has an untapped line of credit? | recommend keeping some amount of money in cash as an emergency fund I see two keywords, with two interpretations here. Cash: Emergency: 1 + 1 is rarely a problem. Even if it takes a couple of days to sell reliable investments. 1 + 2 is a rather large problem. You need to leave town, today, because the town won't be the... |
hardship withdrawal | Gaining traction is your first priority. WARNING: as @JosephZambrano explains in his answer the tax penalty for withdrawing from a 401(k) can easily exceed the APR of the credit card making it a very bad strategy. Consult in-depth with a financial advisor to see before taking that path. As @JoeTaxpayer has noted a loa... |
Dry cleaners lost $160 pants, what should I do? | You are looking to be made whole, so the requests need to be reasonable. You need to be clear that you want: You aren't going to 'punish' the dry cleaner or anything else. You don't want coupons or free service for future work, you want your pants or cash. If you send a letter, send it certified with a return receipt... |
Does a market maker sell (buy) at a bid or ask price? | EVERYONE buys at the ask price and sells at the bid price (no matter who you are). There are a few important things you need to understand. Example: EVE bid: 16.00 EVE ask: 16.25 So if your selling EVE at "market price" you are entering an ask equal to the highest bid ($16.00). If you buy EVE at "market price" you are ... |
Why do Americans have to file taxes, even if their only source of income is from a regular job? | There are a few reasons: 1) Deductions and credits. We have a lot of them. While I suppose we could pass this information on to our employers for them to file, why would we want to? That just unnecessarily adds a middle-man as well as sharing potentially private information more than it needs to be shared. This is the ... |
Using Euros to buy and sell NASDAQ stocks | Does the Spanish market, or any other market in euroland, have the equivalent of ETF's? If so there ought to be one that is based on something like the US S&P500 or Russell 3000. Otherwise you might check for local offices of large mutual fund companies such as Vanguard, Schwab etc to see it they have funds for sale t... |
Does the “Free Ride” rule always apply to your entire collection of shares in a particular stock? | You should check with your broker for details, but you can generally specify which "lot" you are selling. where I've seen it, that's done by concurrently sending a "letter of instruction" documenting your choice of lot concurrent with the sale, but different brokers may handle this differently. I would think this sho... |
How does owning a home and paying on a mortgage fit into family savings and investment? | 1) How does owning a home fit into my financial portfolio? Most seem to agree that at best it is a hedge against rent or dollar inflation, and at worst it should be viewed as a liability, and has no place alongside other real investments. Periods of high inflation are generally accompanied with high(er) interest rates.... |
Optimal Asset Allocation | Generally a diversified portfolio will give you a better overall return --a couple of factors that may address what you are looking at - 1) Correlation - The correlation between your two funds is still very high -- it's partially a function of how global economies are related and many companies are now multi-national. ... |
How to make money from a downward European market? | Trying to make money on something going down is inherently more complicated, risky and speculative than making money on it going up. Selling short allows for unlimited losses. Put options expire and have to be rebought if you want to keep playing that game. If you are that confident that the European market will com... |
Book or web site resources for an absolute beginner to learn about stocks and investing? | The Winning Investor http://winninginvestor.quickanddirtytips.com/ This is a blog and a podcast. Load a bunch of these onto your iPod and start listening. Stikky Stock Charts http://www.amazon.com/Stikky-Stock-Charts-professionals-smart/dp/1932974008 This is a beginner's guide on how to read charts. Lots of charts, not... |
Convention for adding ishares (ETFs) into personal accounts | ETF is essentially a stock, from accounting perspective. Treat it as just another stock in the portfolio. |
Higher returns from international markets? | Here's the 2009-2014 return of the S&P 500 (SPY) vs. Vanguard FTSE ex-US (VEU) (higher returns bolded) Another argument for them is their low correlation to U.S stocks. Looking at history however, I don't see it. Most times U.S stocks have done badly, foreign stocks have also done badly. Looking at the last 6 years... |
What one bit of financial advice do you wish you could've given yourself five years ago? | Planned my grocery shopping better. You can't just wake up on Saturday hungry go to the grocer and buy what looks good. Take the time to clip some coupons and more importantly make a shopping list. |
Announcement of rights offering (above market price) causing stock price increase [duplicate] | This seemed very unrealistic, I mean who would do that? But to my immense surprise the market price increased to 5.50$ in the following week! Why is that? This is strange. It seems that people mistakenly [?] believe that the company should be at 5.5 and currently available cheap. This looks like irrational behaviour. M... |
Shares; are they really only for the rich/investors? | Put £50 away as often as possible, and once it's built up to £500, invest in a stockmarket ETF. Repeat until you retire. |
What considerations are there for making investments on behalf of a friend? | how many transactions per year do you intend? Mixing the funds is an issue for the reasons stated. But. I have a similar situation managing money for others, and the solution was a power of attorney. When I sign into my brokerage account, I see these other accounts and can trade them, but the owners get their own tax ... |
Invest in low cost small cap index funds when saving towards retirement? | I think you're on the right track with that strategy. If you want to learn more about this strategy, I'd recommend "The Intelligent Asset Allocator" by William Bernstein. As for the Über–Tuber portfolio you linked to, my only concern would be that it is diversified in everything except for the short-term bond component... |
Why do consultants or contractors make more money than employees? | In addition to the other answers, consultants and contractors face a real risk (though admittedly small) of not getting paid. The more short-term the gigs are, the higher the risk of not getting paid for a particular job. As an employee, there are laws to ensure that you get your paycheck. As a contractor, you're just ... |
How do you choose which mortgage structure is appropriate when buying a home? | Down payment: Emphatically avoid PMI if at all possible; it's pouring money down the drain. Do 20% down if you can, or pay off enough to bring you above 20% and ask for PMI to be removed as soon as you can. Beyond that it's a matter of how much risk you want to accept and how long you'll own the place, and you'll have ... |
Visitor Shopping in the US: Would I get tax refund? Would I have to pay anything upon departure? | The US doesn't have a Value Added Tax, which is the one usually refundable upon departing the country... so sales taxes you pay in this country stay in this country and you don't get a refund. Just remember to treat the tax as an implied part of the price. (And be aware that state and local taxes may vary, so the total... |
What expenses do most people not prepare for that turn into “emergencies” but are not covered by an Emergency Fund? | While it is true that homeowners insurance will cover emergencies, it is very important to check and make sure that your policy is covering everything that it needs to. A great example is what happened to all of those without flood insurance in Tennessee last year. You may opt not to get additional coverage, but then y... |
If a company in China says it accepts Visa, does it accept all Visas? | Generally, credit card networks (as opposed to debit/ATM cards that may or may not have Visa/MC logos) have a rule that a merchant must accept any credit card with their logo. Visa rules for merchants in the US say it explicitly: Accept all types of valid Visa cards. Although Visa card acceptance rules may vary based... |
New Pooled Registered Pension Plan details? | The general idea of the PRPP is so that small business who cannot afford to offer a plan alone will be able to pool resources with others along with self-employed to create voluntary, defined-contribution pension plans that would be managed by private sector financial institutions. The PRPP concept would offer more opt... |
What options do I have at 26 years old, with 1.2 million USD? | You need to find a fiduciary advisor pronto. Yes, you are getting a large amount of money, but you'll probably have to deal with higher than average health expenses and lower earning potential for years to come. You need to make sure the $1.2 million lasts you, and for that you need professional advice, not something y... |
What is high trading volume in a stock indicative of? Is high liquidity a good thing or a bad thing? | In general, there should be a "liquidity premium" which means that less-liquid stocks should be cheaper. That's because to buy such a stock, you should demand a higher rate of return to compensate for the liquidity risk (the possibility that you won't be able to sell easily). Lower initial price = higher eventual rate ... |
Ticker symbols differences between Yahoo Finance and BestInvest | BestInvest is a UK site looking at that URL, base on the "co.uk" ending. Yahoo! Finance that you use is a US-based site unless you add something else to the URL. UK & Ireland Yahoo! Finance is different from where you were as there is something to be said for where are you looking. If I was looking for a quarter dollar... |
Should I purchase a whole life insurance policy? (I am close to retirement) | First of all, congratulations on being in an incredible financial position. you have done well. So let's look at the investment side first. If you put 400,000 in a decent index fund at an average 8% growth, and add 75,000 every year, in 10 years you'll have about $1.95 Million, $800k of which is capital gain (more o... |
Can preventive health checkup be claimed as a separate expense from medical expenses? | Deduction for Health Checkup is allowed under Section 80D and is allowed to everyone whether Salaried or Business/Professional. However, Exemption for Medical Reimbursement of Rs. 15000 is allowed under a different section. A salaried employee can take benefit of both Medical Reimbursement of Rs. 15,000 as well as Pre... |
How does Walmart account their expired food | Any business, like any household, has items that are wasted. Unlike a household, a business does keep track of all items that are unsellable. Depending on the reason for the item being unsellable they are accounted for differently. Items that can be returned to the manufacturer are done so, and the business is given cr... |
Is investing in an ETF generally your best option after establishing a Roth IRA? | When investing small amounts, you should consider the substantial toll that commissions will take on your investment. In your case, $800 placed in just one ETF will incur commissions of about $8 each way, or a total of 2% of your investment. I suggest you wait until you have at least $5000 to invest in stocks or ETFs. ... |
Is 0% credit card utilization worse than 1-20% credit card utilization for any reason other than pure statistics? | One rule of thumb is that having regular activity on at least three different revolving accounts will improve your score: I agree that it may not be a great idea to have too many open credit accounts (Trade Lines) reporting on your credit report but if you don’t have enough active accounts, it will prevent you from be... |
Is there a way I can get bid/ask price data on the NSE in real time? | Yes apply for live and dynamic data (you may have to pay for this depending on your broker and your country) and look at the market depth. |
Saving for a down payment on a new house, a few years out. Where do we put our money next? | If you're absolutely certain that you won't buy a house within a year or so, I'd still be tempted to put some of the money into short-term CDs (ie, a max of 12 months). I think that at the moment CDs are a bit of a mug's game though because you'd hardly find one that offers better interest rates than some of the few sa... |
What are the pros and cons of buying an item on installments with zero percent interest? | I personally take the zero percent financing plans any day. I have done this with my car and the iphone 6s. The vendors are trying to make it more attractive for you to "afford" the product. It could show up on your credit report and impact the amount of money you can borrow in the future (e.g getting a home loan). ... |
Investment for beginners in the United Kingdom | If you havent yet maxed out your ISA, then its a no-brainer. You get excellent tax rebates and its silly not to take advantage of these before considering self investing in shares. Note that even if your ISA is maxed out, the economic turbulence means that investing in individual stocks is an intimidating place for b... |
Is gold really an investment or just a hedge against inflation? | Gold is a commodity. It has a tracked price and can be bought and sold as such. In its physical form it represents something real of signifigant value that can be traded for currency or barted. A single pound of gold is worth about 27000 dollars. It is very valuable and it is easily transported as opposed to a car w... |
Advice on replacing my savings account | Liquid cash (emergency, rainy day fund) should be safe from a loss in value. Mutual funds don't give you this, especially stock funds. You can find "high yield" savings accounts that are now at around .8% to .9% APY which is much better than .05% and will hopefully go up. Barclays US and American Express are two big... |
Right account for local purchases, loan EMI, and investments | What is the best and most economical way for me to pay the loan EMIs directly? (whether from a Singapore account or a NRE/NRO account) It is advisable to have it via the NRE account as this would be easier. If you already have funds in NRO account, you can use that before you use the funds from NRE account. For all exp... |
Merits of buying apartment houses and renting them | Hitting the 25% marginal rate does not mean all of your earnings are taxed at 25%, only those that exceed the top of the 15% bracket. You can deduct any expenses for upgrading or repairing your apartments, those are subtracted from the earnings before tax is calculated as income, so you will probably stay in a lower ma... |
How can I borrow in order to improve a home I just bought? | It depends on your equity(assets - liabilities). If you have a lot of equity, banks will be happy to lend you money because they now they can always seize your assets. If you don't have a lot of equity another option is to go to hard money lenders. They charge high rates and some of them lend-to-own, but is an option.... |
Is trading stocks easier than trading commodities? | Its the relative leverage available to retail traders between the two. In the US one can trade equities with 2:1 leverage while with commodities the leverage can go much higher. Combine this with the highly volatile nature of commodities, and it makes losing BIG too easy for the average trader. |
Which US market indexes (Dow/DJIA, S&P500, NASDAQ) include reinvested dividends? | .INX (the S&P 500 index itself) does not include reinvested dividens. You can figure total return by going to Yahoo finance, historical data. Choose the start year, and end year. You should find that data for SPY (going back to 1993) will show an adjusted close, and takes dividends into account. This isn't perfect as ... |
Is 401k as good as it sounds given the way it is taxed? | When you are investing for 40 years, you will have taxable events before retirement. You'll need to pay tax along the way, which will eat away at your gains. For example, in your taxable account, any dividends and capital gain distributions will need taxes paid each year. In your 401(k) or IRA, these are not taxable ... |
Are personal finance / money management classes taught in high school, anywhere? | We had a "civics" class when I was a freshman in high school. This was in the Ann Arbor, MI public schools. It covered the very basics (how to balance your checkbook, what are stocks, how do income taxes work, what is interest, etc.) of money management along with an overview of politics and the legal system. It was a ... |
Learn investing as a programmer | The software you provided as an example won't teach you much about investing. The most important things of investing are: These are the only free lunches in investing. Allocation tells you how much expected return (and also how much risk) your portfolio has. Diversification is the only way to reduce risk without reduci... |
Optimal Asset Allocation | When you have multiple assets available and a risk-free asset (cash or borrowing) you will always end up blending them if you have a reasonable objective function. However, you seem to have constrained yourself to 100% investment. Combine that with the fact that you are considering only two assets and you can easily ... |
How is gold shared in worldwide economies? | I think you are asking a few questions here. Why is gold chosen as money? In a free market there are five characteristics of a good money: Gold and silver meet all five characteristics. Diamonds are not easily divisible which is why they are not normally used as money. Copper, Iron, and lead are not scarce enough - y... |
What do the terms par value, purchase price, call price, call date, and coupon rate mean in the context of bonds? | Unless stated otherwise, these terms apply to all bonds. The par value or face value of a bond refers to the value of the bond when it's redeemed at maturity. A bond with a par value of $10,000 simply means that if you purchase the bond and hold it until the maturity date specified in the contract, you receive $10,000.... |
What does it mean “sell on ask” , “sell on bid” in stocks? | It's good to ask this question, because this is one of the fundamental dichotomies in market microstructure. At any time T for each product on a (typical) exchange there are two well-defined prices: At time T there is literally no person in the market who wants to sell below the ask, so all the people who are waiting t... |
Do I not have a credit score? | I'm the contrarian in the crowd. I think credit scores and debt are the closest thing to evil incarnate. You're in good company. The absence of a credit score simply means the agencies have insufficient data in their behavioral model to determine how profitable your business would be to the bank. The higher your score,... |
What exactly happens during a settlement period? | During the settlement period, the buyer transfers payment to the seller and the seller transfers ownership to the buyer. This is really a holdover from the days when so much of stock trading was done by individual human traders, and computers were still not a huge part of the operation. Back then, paper tickets for tr... |
Is there any truth to the saying '99% of the world's millionaires have become rich by doing real estate'? | I can name far more non-real estate millionaires than those who are. That statistic isn't only not valid, it's not even close. Update: The correct quote is "90% of all Millionaires become so through owning Real Estate" and it's attributed to Andrew Carnegie. Given that he was born in 1835, I can imagine that his state... |
What are the advantages and disadvantages of leasing out a property or part of a property (such as a basement apartment)? | It doesn't make a lot of sense to buy a house/condo and rent it out now. On the other hand, I think finishing your basement and then renting it out is an excellent idea. The ROR is excellent as long as you can deal with the "strangers" in the basement, have the extra driveway space and negative association with rentin... |
Can someone explain a stock's “bid” vs. “ask” price relative to “current” price? | As others have stated, the current price is simply the last price at which the security traded. For any given tick, however, there are many bid-ask prices because securities can trade on multiple exchanges and between many agents on a single exchange. This is true for both types of exchanges that Chris mentioned in his... |
Market Relativity Theory? | As of this moment the DOW 30 is up 6.92% Year-to-date. Of the 30 stocks in the index 6 are in negative territory for the year. And of the 6 in negative territory 3 are farther below 0 than the average is above 0. The investors in those 3 stocks (Boeing, Goldman Sachs and Nike) would look at this year so far as a disas... |
Why are estimated taxes due “early” for the 2nd and 3rd quarters only? | nan |
How to start investing/thinking about money as a young person? | I think "Rich Dad Poor Dad" is a good read for understanding the basics of personal finance in a non-technical format before actually starting investing. |
Wisest option to pay for second career education | To me it sounds like you need to come up with 67K (30+37), part of the time you can work in the current job, part of the time you could work a lower paying part time job (for a year). Lets assume that you can earn 15K for that year, and you can save 5K from your current job. (I'd try and save more, but what ever you ... |
How profitable is selling your customer base? | There are business that exist by harvesting leads and selling them to other companies. These leads can be access to resumes they sell to business looking for employees; they can be eyeballs that view their adds; they can be list of people that meet a specific credit profile. All are legitimate business and many are gr... |
Can I pay off my credit card balance to free up available credit? | Is it possible to pay off my balance more than once in a payment period in order to increase the amount I can spend in a payment period? Yes you can pay off the balance more than once even if its not due. This will get applied to outstanding and you will be able to spend again. If so, is there a reason not to do this? ... |
Yahoo Finance shows incorrect data | Yes, I see the same problem. Google's version seems to be correct, however. |
No-line-of-credit debit card? | This arrangement might be a bit of a pain, but what about Visa gift card(s)? The transfer of money just doesn't happen if the money isn't already on the card. See here. |
How to calculate the rate of return on selling a stock? | Simple math. Take the sale proceeds (after trade expenses) and divide by cost. Subtract 1, and this is your return. For example, buy at 80, sell at 100, 100/80 = 1.25, your return is 25%. To annualize this return, multiply by 365 over the days you were in that stock. If the above stock were held for 3 months, you would... |
Are warehouse clubs like Costco and Sam's Club worth it? | Silly as it sounds, we belong to both BJ's and Sam's club (we don't have Costco in this area). The produce at our local Sam's is top-notch, especially in the winter. The prices on fruit there are unbeatable in the winter time, and more than cover the membership cost. I also find the price/quality of canned/box grocery... |
Why would a bank need to accept deposits from private clients if it can just borrow from the Federal Reserve? | Borrowing money from the Federal Reserve (or other central banks) requires full collateral, generally in terms of treasury bonds. In that sense it is only a source of liquidity - getting short term money by pledging guaranteed future cash flows, not random commercial loans. To get a dollar from FR today requires freezi... |
Why would my job recruiter want me to form an LLC? | This is pretty normal. I am in the UK and currently doing the exact same thing. As some answers state there is additional tax law called IR35. But thats all it is, an additional tax law that may be applicable to your situation (it very well may not). It is all perfectly legal and common (all my university friends no... |
Should a high-school student invest their (relative meager) savings? | At your age (heck, at MY age :-)) I would not think about doing any of those types of investments (not savings) on your own, unless you are really interested in the investment process for its own sake, and are willing to devote a lot of time to investigating companies in order to try to pick good investments. Instead, ... |
Buying a car - advice needed | I would actually disagree with MrChrister on this. You can afford yourself the car in this price range paid cash. I don't know how exactly you spend your income, but from my experience, in expensive California, saving $20K a year from $70K income with $800/mo rent is feasible. Having a loan on your credit report which ... |
Lump sum annuity distribution — do I owe estate tax? | If you are the beneficiary of an annuity, you might receive a single-sum distribution when the annuity owner dies. The amount of this death benefit might be the current cash value of the annuity or some other amount based upon contract riders that the owner purchased. The tax on death benefits depends on a number of fa... |
Why buy insurance? | One reason is that insurance gives you tranquility. Without insurance, you live with the uncertainty of not knowing if/when disaster is going to strike. Insurance allows you to trade this uncertainty for regular monthly/yearly payments. |
Will the ex-homeowner still owe money after a foreclosure? | It is in the bank's interest to sell the property for as much as they can (although it is doubtful they will put as much effort/time into selling it as the owner might). They will certainly not sell it for $1. The main reason for this is that the bank would prefer to own $100k, than a loan to them from a customer for $... |
Why use accounting software like Quickbooks instead of Excel spreadsheets? | Since this is a cooperative I'm guessing your partners may want to be able to view the books so another key point you may want to consider is collaboration. QuickBooks desktop has all of these same issues because it is meant to be used on a single desktop. We're in an age of mobile devices, and especially in a busines... |
How do I go about finding an honest & ethical financial advisor? | Most individuals do not need a personal financial advisor. If you are soon entering the world of work, your discretionary investments should be focused on index funds that you commit to over the long run. Indeed, the best advice I would give to anyone just starting out would be: For most average young workers, a financ... |
Should I buy a home or rent in my situation? | You said 2 things that made me think you are one of the rare young couples barely making it but should attempt to buy rather than rent anyway.... Around my area, renting a place is about equivalent to just paying a monthly mortgage of a 30yr 3.5% APR of a home priced at around $250,500. and... Our ideal price range wo... |
Who can truly afford luxury cars? | It's all about what you value personally. I'm mid-30s and drive a $40K "luxury" sports car. I also happen to wear a $6K wristwatch every day. I purchased both of these items because I thought they were beautiful when I saw them. On the flip side, because I spent 6 years living below the poverty line, I instinctively ... |
How do I get bill collectors who call about people I know to stop calling me? | http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf if you are in the US Look at section 805 and 805 about how they may contact you and what they are and aren't allowed to do. You can simply send a Certified Mail, Return Receipt (CMRR) letter explaining you have no part of it, and that they are not allowed to con... |
How does 83b election work when paying fair market value at time of grant? | The tax cost at election should be zero. The appreciation is all capital gain beyond your basis, which will be the value at election. IRC §83 applies to property received as compensation for services, where the property is still subject to a substantial risk of forfeiture. It will catch unvested equity given to emplo... |
How to prevent myself from buying things I don't want | There's a reason that you get a discount code: to make you feel like you're getting a deal. A deal is what you get when there was something that you were already going to buy, and you got it for a lower price than you were going to originally spend on it. If you learn to look at "rewards" as a marketing ploy that is de... |
What part of buying a house would make my net worth go down? | One way to think of net worth is to think if you sold everything you owned, how big of a pile of money would be standing next to you (assuming your net worth is positive). If you started with $100K and then bought a house worth $100K you would have $0 in the bank and a house. If you sold that house for $100K you woul... |
What is a good way to save money on car expenses? | Do your own oil change! If you are a hands-on person, you could also avoid the cost of the semi-annual oil change, by doing it yourself. Edmunds.com has a great how-to to help you accomplish this. Be prepared for dirty fingernails! But savings, you will realize, as an oil change will run you anywhere from $20 - $200... |
mortgage vs car loan vs invest extra cash? | Since you've already maxed out your 401k and your IRA, if you wanted to invest more-- then it would either be in a brokerage account or a 529 (if you have kids/ intend on going back to school). As to investing versus paying off your loans -- the interest on them are small enough that it will depend on your preference. ... |
Investments beyond RRSP and TFSA, in non-registered accounts? | You haven't looked very far if you didn't find index tracking exchange-traded funds (ETFs) on the Toronto Stock Exchange. There are at least a half dozen major exchange-traded fund families that I'm aware of, including Canadian-listed offerings from some of the larger ETF providers from the U.S. The Toronto Stock Excha... |
Can I withdraw from my Roth IRA retirement account to fund a startup? | Yes, it is possible to withdraw money from your Roth IRA before retirement (but I wouldn't necessarily advise you to do so.) Here's the good news, and the bad news: The good news: Unlike a traditional IRA, money contributed to a Roth IRA is done so on an after-tax basis, meaning you don't benefit from a tax deduction ... |
What ways are there for us to earn a little extra side money? | Have you considered doing some small freelance programming jobs? One site I like for this type of thing is eLance.com, but I am sure there are others. Heck, you are soon going to be up all night anyway, why not earn some cash during those hours the rest of us foolishly waste on sleep? |
Do I even need credit cards? | Credits are expensive, so it's a great advantage to pay in cash. Obviously, it's even more an advantage to pay in cash for a house or a car, of course if you can afford it. But, as annoying as it could be, there are some services, where you're out of option to pay in cash, or even to pay by bank transfer. One of the mo... |
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