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Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | I'm only spending roughly half of what I earn; should I spend more? | I have an idea. Keep saving what you are and think "Early Retirement". Work for 20 years, then do whatever you want 40 hours a week. If your satisfied with your current lifestyle, start thinking of your bigger long term financial goals and when you want to accomplish them by. Maybe you can accomplish these sooner t... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | I'm only spending roughly half of what I earn; should I spend more? | Apart from what the other posters have said, you could look at some 'good cause'. I'd keep on saving 50% as spending more won't really make you more happy. You already sound happy. What I used to do, when I could, was to donate 10% of my 'profit' per year. I'd compare year start with year end and do the math. Afterward... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | I'm only spending roughly half of what I earn; should I spend more? | I use to think there was something wrong with me because I always hated spending money. This hatred of spending resulted in me always saving quite a bit of my income. Since I don't enjoy spending it, why am I making and saving it (besides for an emergency fund)? I've come to the realization that I enjoy my free time ... |
Share your insights or perspective on the financial matter presented in the input. | I'm only spending roughly half of what I earn; should I spend more? | The suggestions towards retirement and emergency savings outlined by the other posters are absolute must-dos. The donations towards charitable causes are also extremely valuable considerations. If you are concerned about your savings, consider making some goals. If you plan on staying in an area long term (at least f... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | I'm only spending roughly half of what I earn; should I spend more? | Keep saving or investing, but set aside a relatively modest amount for "fun money". That way, you can go have a good time without thinking too much about what you're spending within the limits you spend for yourself. You don't need to spend lavishly to have a good time! Not having the stress on your shoulders of worry... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | I'm only spending roughly half of what I earn; should I spend more? | Aside from what everyone else has said about your money (saving, investing, etc.), I'd like to comment on what else you could spend it on: Spend it all on small/stupid things that, while stupid, would make me happier. For example take taxis more often, eat often in nice restaurants, buy designer clothes, etc. I... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | I'm only spending roughly half of what I earn; should I spend more? | Your Money or Your Life is a great book on this topic. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | I'm only spending roughly half of what I earn; should I spend more? | Looks like you don't want to participate in the consumerist rush but feel that you just have to do that too. First of all, you don't have to do what you don't want. Then there're researches showing that joy from a compulsive purchase only lasts for a short period of time and then you are left with a relatively useless ... |
Share your insights or perspective on the financial matter presented in the input. | How to find cheaper alternatives to a traditional home telephone line? | Cheapest is one thing. You can absolutely shop in the market and find the lowest possible price. I can think of three places to shop, each with an up and downside. I would think that what you really mean is the best price for the service. Just like shopping for a car you have to decide what you need vs what is nice ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How to find cheaper alternatives to a traditional home telephone line? | How low you can reduce your costs does depend on your calling pattern. How many minutes per month you call locally; call long distance; call internationally; and how many minutes you receive calls for. If all these figures are low, you can be better off with a pay-per-minute service, if any of the outbound figures ar... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How to find cheaper alternatives to a traditional home telephone line? | Try to use VOIP service provider or web enabled conference calling services in your home phone. Now a days communication technologies have seen a boost as well as integration of different formats and platforms which easily reduces phone bills of a user. Service such as UberConference, Skype, Webinar etc enables audio/... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Does cash back apply to online payments with credit card | Retail purchases are purchases made at retail, i.e.: as a consumer/individual customer. That would include any "standard" individual expenditure, but may exclude wholesale sales or purchases from merchants who identify themselves as service providers to businesses. Specifics of these limitations really depend on your c... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Are there any banks in Europe that I can have an account without being in that country? | Opening account in foreign bank is possible, but you must have strong proofs you use it for legitimate purposes. More chances to get an account if you visit Europe and able to stay, for example, for a week, to visit bank in person and wait for all the checks and approvals. Also keep in mind that there will be deposit/w... |
Share your insights or perspective on the financial matter presented in the input. | Are there any banks in Europe that I can have an account without being in that country? | It can be done, but I believe it would be impractical for most people - i.e., it would likely be cheaper to fly to Europe from other side of the world to handle it in person if you can. It also depends on where you live. You should take a look if there are any branches or subsidiaries of foreign banks in your country ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Is there a way to monitor when executives or leaders in a company sell off large holdings? | Exec Insiders have to file with the SEC and some sites like secform4.com track it. But many insiders have selling programs where the sell the same amount every month or quarter so you would have to do your homework to determine if there are real signals in the activity. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Is there a way to monitor when executives or leaders in a company sell off large holdings? | SEC Form 3 and SEC Form 4 are filed when insiders make share/derivatives acquisitions, transfers, sells and buys There is a time limit AFTER the action where they can be filed, such as 12 business days, so this can be a substantial amount of time after the effect on the market, depending on your strategy. You can aggre... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why is the breakdown of a loan repayment into principal and interest of any importance? | The breakdown between how much of your payment is going toward principal and interest is very important. The principal balance remaining on your loan is the payoff amount. Once the principal is paid off, your loan is finished. Each month, some of your payment goes to pay off the principal, and some goes to pay inte... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Why is the breakdown of a loan repayment into principal and interest of any importance? | It's important because it shows that the amount you owe does not decrease linearly with each payment, and you gain equity as a correspondingly slower rate at the beginning of the loan and faster at the end. This has to be figured in when considering refinancing, or when you sell the place and pay off the mortgage. It a... |
Share your insights or perspective on the financial matter presented in the input. | Why is the breakdown of a loan repayment into principal and interest of any importance? | Yes, the distinction between how your funds are applied to principal vs interest is very important. The interest amount charged each period (probably monthly) is not just one fixed sum calculated at the origination, but rather is a dynamically calculated amount that changes each period relative to how much principal is... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why is the breakdown of a loan repayment into principal and interest of any importance? | The other answers have touched on amortization, early payment, computation of interest, etc, which are all very important, but I think there's another way to understand the importance of knowing the P/I breakdown. The question mentions the loan payment as "cash outflow". That is true, but from an accounting perspective... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Why is the breakdown of a loan repayment into principal and interest of any importance? | It's important because you may be able to reduce the total amount of interest paid (by paying the loan faster); but you can do nothing to reduce the total of your principal repayments. The distinction can also affect the amount of tax you have to pay. Some kinds of interest payments can be counted as business expenses,... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why is the breakdown of a loan repayment into principal and interest of any importance? | The reason it's broken out is very specific: this is showing you how much interest accrued during the month. It is the only place that's shown, typically. Each month's (minimum) payment is the sum of [the interest accrued during that month] and [some principal], say M=I+P, and B is your total loan balance. That I is ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What are the reasons to get more than one credit card? | nan |
Share your insights or perspective on the financial matter presented in the input. | What are the reasons to get more than one credit card? | In the case of reward cards, different cards may offer different rewards for different kind of purchases. For example, in the UK, one of the Amex cards offers 1.25% cashback on all purchases, whereas one of the Santander cards offers 3% on fuel, 2% or 1% on certain other transactions, and nothing on others. Of course, ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What are the reasons to get more than one credit card? | Another reason is that the amount of unused credit you have is a positive factor on your credit score. It's generally easier to open several different accounts for $X dollars each with different banks than to get your current bank to raise your limit severalfold in a single go. Your current bank has to worry about wh... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What are the reasons to get more than one credit card? | A friend of mine has two credit cards. He has specifically arranged with the card issuers so that the billing cycles are 15 days out of sync. He uses whichever card has more recently ended its billing cycle, which gives him the longest possible time between purchase and the due date to avoid interest. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What are the reasons to get more than one credit card? | I have a fair number of cards floating around some reasons I have opened multiple accounts. I am not saying that it is for everyone but there are valid scenarios where multiple credit cards can make sense. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What are the reasons to get more than one credit card? | Many reasons mentioned already. The reason why I have multiple is missing: I have a personal card for my private use and a company card for company use. |
Share your insights or perspective on the financial matter presented in the input. | What are the reasons to get more than one credit card? | Another good reason: if you have to replace a card due to damage, loss, or identity theft it's nice to have a backup you can use until the new card for your primary account arrives. I know folks who use a secondary card for online purchases specifically so they can kill it if necessary without impacting their other use... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What are the reasons to get more than one credit card? | nan |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What are the reasons to get more than one credit card? | 3 reasons I can think of: I once worked for a bank and when credit scoring for loans, if you had been approved by different institutions, you were given a better score. So if you held a Visa and Mastercard (as opposed to two Visa cards) your credit score would go higher. More than 6 cards though looked suspicious and y... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What are the reasons to get more than one credit card? | 1- To max out rewards. I have 5 different credit cards, one gives me 5% back on gas, another on groceries, another on Amazon, another at restaurants and another 2% on everything else. If I had only one card, I would be missing out on a lot of rewards. Of course, you have to remember to use the right card for the right ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What are the reasons to get more than one credit card? | I keep one card just for monthly bills (power company,car loan, etc.). This one is unlikely to get hacked so I won't have to go change the credit card information on my monthly bills. I pay the credit card from my bank account. I just don't want a lot of businesses with direct access to my bank account. |
Share your insights or perspective on the financial matter presented in the input. | What are the reasons to get more than one credit card? | Someone mentioned sign up bonuses but only mentioned dollar values. You might get points, sweet, sweet airline points :) which some might find compelling enough to churn cards so they always have a few open. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What are the reasons to get more than one credit card? | I got a Capital One credit card because they don't charge a fee for transactions in foreign currencies. So I only use it when I travel abroad. At home, I use 3 different credit cards, each offering different types of rewards (cash back on gas, movies, restaurants, online shopping etc). |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What are the reasons to get more than one credit card? | There is almost no reason to get a second credit card - this is a very good arrangement for your creditor but not for you. Credit cards have high rates of interest which you have to pay unless you pay the credit off every month. Therefore, increasing your total credit capacity should not be your concern. Since interne... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Buy and sell stock at specific earnings | Enjoy the free trades as long as they last, and take advantage of it since this is no longer functionally a tax on your potential profits. On a side note, RobinHood and others in the past have roped customers in with low-to-zero fee trades before changing the business paradigm completely or ceasing operations. All bro... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Why must identification be provided when purchasing a money order? | The Bank Secrecy Act of 1970 requires that banks assist the U.S. Gov't in identifying and preventing money laundering. This means they're required to keep records of cash transactions of Negotiable Instruments, and report any such transactions with a daily aggregate limit of a value greater than (or equal to?) $10,000.... |
Share your insights or perspective on the financial matter presented in the input. | What are the financial advantages of living in Switzerland? | The cost of living is quite high in New York City. It has the highest CPI (Consumer Price Index) of any city in the U.S. Salaries also tend to be highest in NYC. Just about any bicycle lock sold in the U.S. has an exception in its warranty for NYC. It is the most populous American city. So, why do people deal with ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What are the financial advantages of living in Switzerland? | In addition to what George said, there are other things that probably benefit Switzerland: |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What are the financial advantages of living in Switzerland? | Switzerland was once known for its high regard for private property rights. Recently it is has started to violate those rights by forcing banks to turn over the names of account holders to the US government. Not a great trend. Another aspect that makes Switzerland an attractive place for people and businesses is the ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What are the financial advantages of living in Switzerland? | Some of the advantages of Switzerland: Not everything is about money. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What are the financial advantages of living in Switzerland? | The lake is beautiful. The Swiss people are really good educated The companies want to be a part of these great reputation. We have low taxes We are political stable Our currency is stable We are company-friendly |
Share your insights or perspective on the financial matter presented in the input. | What are the financial advantages of living in Switzerland? | Companies, especially big ones, find in Switzerland a business-friendly environment and often benefit from a special tax regime. Don't mix the companies interests with yours. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What are the financial advantages of living in Switzerland? | As per Wikipedia of right now, here are unemployment figures for Switzerland and surrounding countries: Liechtenstein, unfortunately, does not have a large job market, given its total population of about 37,000 people. And note that the German figure of 4.5% is the lowest it has been for decades - I'd expect this numbe... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Purpose of having good credit when you are well-off? | Your dad may have paid an "opportunity cost" for that outright purchase. If the money he saved had been invested elsewhere, he may have made more money. If he was that well off, then his interest rate should have been the lowest possible. My own father is a multi-millionaire (not myself) and he could afford to have ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Purpose of having good credit when you are well-off? | Credit scores, or at least components of them, can sometimes factor into how much you pay for car insurance. Source: Consumer Reports: How a Credit Score Increases your Premium |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Purpose of having good credit when you are well-off? | Because even if you won the lottery, without at least some credit history you will have trouble renting cars and hotel rooms. I learned about the importance, and limitations of credit history when, in the 90's, I switched from using credit cards to doing everything with a debit card and checks purely for convenience. E... |
Share your insights or perspective on the financial matter presented in the input. | Purpose of having good credit when you are well-off? | A $250K earner might have $4M in retirement savings and $500K in available funds, but doesn't wish to spend all his liquidity on the house. In general, a house might cost 2-3 times one's annual income. It would take many years to get that saved up. They might want to have the house sooner. It all goes back to choice, ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Purpose of having good credit when you are well-off? | People just love becoming more well-off than they currently are, and one of the ways they do it is with leverage. Leverage requires credit. That desire is not exclusive to people who are not already well-off. For a well-off person who wants to become more well-off by expanding their real estate ventures, paying cash fo... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Purpose of having good credit when you are well-off? | Credit in general having no significant change between an income level or net worth is due to the economic reciprocity principle inherent in many societies. Although some areas of credit may be more admirable to those who aren't as well-off, such as car loans, the overall understanding of credit is a trust agreement be... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Purpose of having good credit when you are well-off? | I have never had a credit card and have been able to function perfectly well without one for 30 years. I borrowed money twice, once for a school loan that was countersigned, and once for my mortgage. In both cases my application was accepted. You only need to have "good credit" if you want to borrow money. Credit score... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Purpose of having good credit when you are well-off? | there are several reasons you might want good credit even if you could afford to pay for all your expenses in cash. having pointed out all the above reasons to have good credit, it is probably worth noting that many people with good credit choose to not borrow simply because they are more comfortable with the risks of ... |
Share your insights or perspective on the financial matter presented in the input. | Purpose of having good credit when you are well-off? | Credit is very important even if you are wealthy. One thing you may not realize is that rich people typically have comparatively little cash on hand. If they're smart, most of their assets are not liquid - they're tied up in safe, long-term investments. They use credit for their day-to-day expenses and pay it off fro... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How to pay with cash when car shopping? | I have in the last few years purchased several used cars from dealers. They have handled it two different ways. They accepted a small check ~$1,000 now, and then gave me three business days to bring the rest as a cashiers check. They also insisted that I submit a application for credit, in case I needed a loan. They a... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How to pay with cash when car shopping? | You could write a personal check after the final price has been set and you're ready to purchase. Another option would be to get the final price - then walk over to your bank and get a cashier's check. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How to pay with cash when car shopping? | I usually get a cashiers check to cover about 90% - 95% of the expected amount (whatever I think is just below my wet-dream-price), and bring the rest in cash. That doesn't require so much cash to be carried. Alternatively you can write a personal check for the exact reminder, or go to the bank for the reminder after t... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How to pay with cash when car shopping? | When you pay cash for a car, you don't always necessarily need to pay cash. You just aren't using credit or a loan is all. A few options you have are: Obviously no dealer expects anyone to just have the cash laying around for a car worth a few thousand dollars, nor would you bother going to your bank or credit union fo... |
Share your insights or perspective on the financial matter presented in the input. | How to pay with cash when car shopping? | You can pay with a cashiers check or personal check. You can even pay cash, or combine payment methods. However, in the USA if you give the dealership $10,000 or more in actual cash, they will be required to fill out a form 8300 with the IRS. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How to pay with cash when car shopping? | Ask the dealer to drive to the bank with you, if they really want cash. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How to pay with cash when car shopping? | The very first time I bought a new car I wrote out a personal check for $5000 (this was a looong time ago!). And got a call from the sales person that he had called the bank and was told that I did not have that much money in my checking account! I explained that I had just that day transferred money from savings to ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Best way to start investing, for a young person just starting their career? | First off, I highly recommend the book Get a Financial Life. The basics of personal finance and money management are pretty straightforward, and this book does a great job with it. It is very light reading, and it really geared for the young person starting their career. It isn't the most current book (pre real-esta... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Best way to start investing, for a young person just starting their career? | First I'd like to echo msemack's answer. Start by maxing out your 401K and IRA contributions. Not a lot of people just starting their career have the luxury of doing much more outside of that. Here are some additional tips that I learned when I was just getting started: |
Share your insights or perspective on the financial matter presented in the input. | Best way to start investing, for a young person just starting their career? | First, congratulations on even thinking about investing while you are still young! Before you start investing, I'd suggest you pay off your cc balance if you have any. The logic is simple: if you invest and make say 8% in the market but keep paying 14% on your cc balance, you aren't really saving. Have a good supply ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Best way to start investing, for a young person just starting their career? | Not 100% related, but the #1 thing you need to avoid is CREDIT CARD DEBT. Trust me on this one. I'm 31, and finally got out of credit card debt about eight months ago. For just about my entire 20s, I racked up credit card debt and saved zero. Invested zero. It pains me to realize that I basically wasted ten years of p... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Best way to start investing, for a young person just starting their career? | Warren Buffett answered this question very well at the 2009 Berkshire Hathaway annual meeting. He said that it was important to read everything you can about investing. What you will find is that you will have a number of competing ideas in your head. You will need to think these through and find the best way to sol... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Best way to start investing, for a young person just starting their career? | The most important thing is to start. Don't waste months and years trying to figure out the "optimal" strategy or trying to read all the best books before you start. Pick a solid, simple choice, like investing in your company sponsored 401(k), and do it today. This I Will Teach You To Be Rich post on barriers has s... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Best way to start investing, for a young person just starting their career? | I would personally suggest owning Mutual Funds or ETF's in a tax sheltered account, such as a 401k or an IRA, especially Roth options if available. This lets you participate in the stock market while ensuring that you have diversified portfolio, and the money is managed by an expert. The tax sheltered accounts (or ta... |
Share your insights or perspective on the financial matter presented in the input. | Best way to start investing, for a young person just starting their career? | This is a tough question, because it is something very specific to your situation and finances. I personally started at a young age (17), with US$1,000 in Scottrade. I tried the "stock market games" at first, but in retrospect they did nothing for me and turned out to be a waste of time. I really started when I actuall... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Best way to start investing, for a young person just starting their career? | If your employer offers a 401(k) match, definitely take advantage of it. It's free money, so take advantage of it! |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Best way to start investing, for a young person just starting their career? | Adding to the very good advises above - Concentrate on costs related to investment activity. Note all expenses and costs that you pay. Keep it low. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Best way to start investing, for a young person just starting their career? | When you start to buy stock, don't buy too little of it! Stocks come at a cost (you pay a commission), and you need to maintain a deposit, you have to take these costs into account when buying to calculate your break even point for selling. Don't buy stock for less than 1.500€ Also, diversify. Buy stock from different ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Best way to start investing, for a young person just starting their career? | I tell you how I started as an investor: read the writings of probably the best investor of the history and become familiarized with it: Warren Buffett. I highly recommend "The Essays of Warren Buffett", where he provides a wise insight on how a company generates value, and his investment philosophy. You won't regret i... |
Share your insights or perspective on the financial matter presented in the input. | Best way to start investing, for a young person just starting their career? | Conventional wisdom says (100-age) percentage of your saving should go to Equity and (age) percentage should go to debt. My advice to you is to invest (100-age) into index fund through SIP and rest in FD. You can re-balance your investment once a year. Stock picking is very risky. And so is market timing. Of cource yo... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Best way to start investing, for a young person just starting their career? | I started my career over 10 years ago and I work in the financial sector. As a young person from a working class family with no rich uncles, I would prioritize my investments like this: It seems to be pretty popular on here to recommend trading individual stocks, granted you've read a book on it. I would thoroughly rec... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Foreign company incorporated in US and W9 | According to the W9 instructions you are considered a U.S. person if: According to the following section, it looks like a C corporation may be easier then an LLC: All of this information can be found here: http://www.irs.gov/pub/irs-pdf/fw9.pdf Hope this helps! |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What special considerations need to be made for a US citizen who wishes to purchase a house in Canada? | About deducting mortgage interest: No, you can not deduct it unless it is qualified mortgage interest. "Qualified mortgage interest is interest and points you pay on a loan secured by your main home or a second home." (Tax Topic 505). According to the IRS, "if you rent out the residence, you must use it for more than ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What effect would a company delisting from the LSE to move to china have on shareholders? | Source Rule 41 of the AIM Rules sets out the procedure for delisting. In summary, a company that wishes to cancel the right of any of its trading securities must: The notification to the Exchange should be made by the company’s nominated adviser and should be given at least 20 business days prior to the intended cance... |
Share your insights or perspective on the financial matter presented in the input. | What effect would a company delisting from the LSE to move to china have on shareholders? | You would still be the legal owner of the shares, so you would almost certainly need to transfer them to a broker than supports the Hong Kong Stock Exchange (which allows you to trade on the Shanghai exchange). In order to delist they would need to go through a process which would include enabling shareholders to conti... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How long should I keep my tax documents, and why? | How long you need to keep tax records will depend on jurisdiction. In general, if you discard records in a period of time less than your tax authority recommends, it may create audit problems down the road. ie: if you make a deduction supported by business expense receipts, and you discard those receipts next year, the... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How long should I keep my tax documents, and why? | Unfortunately, my taxes tend to be complicated This. In and of itself, is a greater reason to keep the documents. The other answer offered a good summary, but keep in mind, if the IRS decides you fraudulently withheld claiming income, they can go back 7 years. I bought a rental property in 1987, and sold it in 2016. I... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why are typical 401(k) plan fund choices so awful? | 401k choices are awful because: The best remedy I have found is to roll over to an IRA when changing jobs. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Why are typical 401(k) plan fund choices so awful? | I would point this out to the committee or other entity in charge of handling this at work. They do have a fiduciary responsibility for the participant's money and should take anything reasonable seriously. The flip side to this is 95% of participants -- especially participants under 35 or so -- really pay next to no a... |
Share your insights or perspective on the financial matter presented in the input. | Why are typical 401(k) plan fund choices so awful? | The managers of the 401(k) have to make their money somewhere. Either they'll make it from the employer, or from the employees via the expense ratio. If it's the employer setting up the plan, I can bet whose interest he'll be looking after. Regarding your last comment, I'd recommend looking outside your 401(k) for in... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why are typical 401(k) plan fund choices so awful? | To piggy back mbhunter's answer, the broker is going to find a way to make the amount of money they want, and either the employee or the company will foot that bill. But additionally, most small businesses want to compete and the market and offer benefits in the US. So they shop around, and maybe the boss doesn't have... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Making higher payments on primary residence mortgage or rental? | You're in the same situation I'm in (bought new house, didn't sell old house, now renting out old house). Assuming that everything is stable, right now I'd do something besides pay down your new mortgage. If you pay down the mortgage at your old house, that mortgage payment will go away faster than if you paid down the... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Making higher payments on primary residence mortgage or rental? | I'll assume you live in the US for the start of my answer - Do you maximize your retirement savings at work, at least getting your employer's match in full, if they do this. Do you have any other debt that's at a higher rate? Is your emergency account funded to your satisfaction? If you lost your job and tenant on the... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Making higher payments on primary residence mortgage or rental? | A lot depends on whether your mortgage payments are interest only or 'repayment' and what the remaining term is on each of the mortgages. Either way I suspect that the best value for the money you put in will be had by making payments to the larger, newer mortgage. This is because the quicker you reduce the capital o... |
Share your insights or perspective on the financial matter presented in the input. | Making higher payments on primary residence mortgage or rental? | Pay down the lower balance on the rental property. Generally speaking, you are more likely to need/want to sell the rental house as business conditions change or if you need the money for some other purpose. If you pay down your primary residence first, you are building equity, but that equity isn't as liquid as equity... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Making higher payments on primary residence mortgage or rental? | One advantage of paying down your primary residence is that you can refinance it later for 10-15 years when the balance is low. Refinancing a rental is much harder and interest rates are often higher for investors. This also assumes that you can refinance for a lower rate in the nearest future. The question is really w... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What to do when a job offer is made but with a salary less than what was asked for? | In my experience of doing software development for a little longer than I care to remember, salaries are always assumed to be negotiable. I know you said you don't like haggling (a lot of people don't) but you'll have to get used to that and you might have to be a little more flexible. Being able to negotiate something... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What to do when a job offer is made but with a salary less than what was asked for? | What's relevant to whether you accept the offer should be the compensation package (including salary and benefits) they're offering, the work you'll be doing, and the conditions in which you'll be doing it. The communication history between you and the recruiter isn't really that relevant, since you probably won't deal... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What to do when a job offer is made but with a salary less than what was asked for? | If you take less than you think you are worth, you will hate that job with a purple passion in short order. Either make peace with the amount you settle on or move on. |
Share your insights or perspective on the financial matter presented in the input. | What to do when a job offer is made but with a salary less than what was asked for? | Not-very-serious companies always try to reduce your pretended salary. This also happens in Argentina. My advice is to look for another opportunity because you have to take into account that if you join the company this will happen again; for example, in the future, they may lowball you on raises. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What to do when a job offer is made but with a salary less than what was asked for? | It depends on your situation. Take the job only if you really need the job and there's no job close to your experience and salary expectations. IMO $70K is not much in NYC given the cost of living there, even if you stay in Jersey City, NJ and take a train. However, it does depend on your lifestyle. Also, if HR is not ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What to do when a job offer is made but with a salary less than what was asked for? | What I do in those cases - assuming I like the job - is ask for a review in 3-months. They usually take this to mean I want a raise-review and give me a raise. What I really want to know is how I'm doing. Some managers will only give feedback in a review instead of every day. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Stock market vs. baseball card trading analogy | Baseball cards don't pay dividends. But many profitable companies do just that, and those that don't could, some day. Profits & dividends is where your analogy falls apart. But let's take it further. Consider: If baseball cards could somehow yield a regular stream of income just for owning them, then there might be y... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Stock market vs. baseball card trading analogy | The Bobs tend to show up at the top of bubbles, then disappear soon after. For example, your next door neighbor who talks about Oracle in 1999, even though he doesn't know what Oracle does for a living. I don't think the Bobs' assets represent a large chunk of the market's value. A better analogy would be a spectrum o... |
Share your insights or perspective on the financial matter presented in the input. | Stock market vs. baseball card trading analogy | Actually, this is a pretty good analogy to certain types of stocks, specifically tech and other "fad" stocks. Around the turn of the century, there were a lot of "Bobs" buying tech stocks (like they would baseball cards), for tech stocks' sakes. That's what drove the internet and tech stock bubbles of high valuations. ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | EIN for personal LLC: Is this an S-Corp? | Having an EIN does not make the LLC a corporation -- your business can have an EIN even when treated like a sole proprietorship. An EIN is required to have a Individual 401(k), for example. But you can still be an LLC, taxed as a sole proprietor, and have a 401(k). You would need to file a Form 2553 with the IRS to ele... |
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