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Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Exotic Car Flipping as a Strategic Investment? (US-CAN) | You can greatly reduce the risk if you can line up a buyer prior to purchasing the car. That kind of thing is common in business, one example is drop shipping. Also there are sales companies that specialize in these kinds of things bringing manufacturers of goods together with customers. The sales companies never ta... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How to protect your parents if they never paid Social Security? | Wow. She really is in a pickle. Even though I can intellectualize that she ought have paid more attention to her family's finances, and assuming she wasn't complicit in her husband's obvious tax evasion, I can sympathize to some extent. This is a great demonstration of how dangerous it is to just let your spouse handl... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How to protect your parents if they never paid Social Security? | I'm not unsympathetic, but insurance of what kind? I don't know how he'd have owned a restaurant but failed to pay into the social security system. Was he paying taxes at all? As for the 'why,' there's not enough checks and balances to make sure that nothing is done under the table. I believe 40 quarters of work would... |
Share your insights or perspective on the financial matter presented in the input. | How to protect your parents if they never paid Social Security? | I am unsympathetic. His mother made a conscious choice to evade taxes that would have provided her with at least a minimal security when she was too old to work. First while as business owner she should have been paying self employment tax on the income they made through the restaurant and his other merchant activiti... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Should I buy a home or rent in my situation? | If I were you, I would rent. Wait to buy a home. Here is why: When you say that renting is equal in cost to a 30-year mortgage, you are failing to consider several aspects. See this recent answer for a list of things that need to be considered when comparing buying and renting. You have no down payment. Between the... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Should I buy a home or rent in my situation? | First, you are not a loser nor an idiot! You have avoided many debt mistakes and have a stable income. This move will be good for you and your family and an opportunity to continue to build your life together. The fact you are even thinking about this and asking questions shows that you are responsible. To your rent/bu... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Should I buy a home or rent in my situation? | My experience with owning a home is that its like putting down roots and can be like an anchor holding you to an area. Before considering whether you can financially own a home consider some of the other implications. Once you own it you are stuck for awhile and cannot quickly move away like you can with renting. So ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | 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... |
Share your insights or perspective on the financial matter presented in the input. | Should I buy a home or rent in my situation? | Another reason, and to me the main reason not to buy a house if you're in your early 20s (regardless of your income), is mobility. If you rent, you can move pretty much whenever you want after the first year of your rental lease is up, even before then in some cases. If your fiancee finishes school and gets a great job... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Should I buy a home or rent in my situation? | First, let me mention that the reasons mentioned this far for renting are excellent ones. But, I disagree. Second, I would like to mention that I'm just a regular Joe, not an accountant, or a realtor. That said, I was in a similar situation not that long ago. I ended up renting, but I wish I hadn't. You should check ou... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Should I buy a home or rent in my situation? | I think the consensus is that you can't afford a home now and need to build more of a down payment (20% is benchmark, you may also need to pay mortgage insurance if you are below that) and all considered, it takes up too much of your monthly budget. You didn't do anything wrong but as mentioned by Ben, you are missing ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Should I buy a home or rent in my situation? | MY recommendation is simple. RENT The fact that you have to ask the question is a clear sign that you have no business buying a home. That's not to say that it's a bad question to ask though. Far more important then rather it's finically wise for you to buy a home, is the more important question of "are you emotionall... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Cheapest way to wire or withdraw money from US account while living in Europe | I prefer to use a Foreign Exchange transfer service. You will get a good exchange rate (better than from Paypal or from your bank) and it is possible to set it up with no transfer fees on both ends. You can use an ACH transfer from your US bank account to the FX's bank account and then a SEPA transfer in Europe to ge... |
Share your insights or perspective on the financial matter presented in the input. | Cheapest way to wire or withdraw money from US account while living in Europe | I use xoom.com to transfer money to India. I've been using them for over 2 years now, they are the fastest and the cheapest for me (the funds are usually available the same day). They seem to have added a lot of European countries to their list. Definitely worth a shot. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Cheapest way to wire or withdraw money from US account while living in Europe | There is a number of cheaper online options that you could use. TranferWise was already mentioned here. Other options i know are Paysera or TransferGo. They state that international transfers are processed on the next day and they are substantially cheaper than those of banks. Currency exchange rate is usually not bad. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Cheapest way to wire or withdraw money from US account while living in Europe | Atm machine and my Credit Union account. Low fees (often zero, if the machine is on any of the same networks) and decent exchange rate, and no need to carry cash or traveler's checks to be exchanged. Alternatively, pay by credit card, though there is a foreign transaction fee on that. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Is the amount taxable if my grandfather sells agricultural land | As your is a very specific case, please get an advice of CA. It should not cost you much and make it easier. The sale of agriculture land is taxable in certain conditions and exempt from tax in other cases. Sale of agricultural land is subject to capital gains tax. But there are certain exemptions under Section 54B, su... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Apartment Security Deposit refunds in Maryland | In Maryland, a landlord must hold your security deposit in an escrow account and pay you interest when returning the deposit. The interest is simple interest; it does not compound. The interest rate that they must pay has changed over the last 43 years. Before October 1, 2004, the rate was 4%. Until January 1, 2015,... |
Share your insights or perspective on the financial matter presented in the input. | Are the guaranteed returns of regulated utilities really what they sound like? | Typically a private company is hit by demand supply issues and cost of inputs. In effect at times the cost of input may go up, it cannot raise the prices, because this will reduce demand. However certain public sectors companies, typically in Oil & Engery segements the services are offered by Public sector companies, a... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Are the guaranteed returns of regulated utilities really what they sound like? | No. That return on equity number is a target that the regulators consider when approving price hikes. If PG&E tried to get a 20% RoE, the regulator would deny the request. Utilities are basically compelled to accept price regulation in return for a monopoly on utility business in a geographic area. There are obviously... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan | Smart parents not wanting to get stuck with a student loan or co-signing on a loan. because rent is so high Are you able to live with your parents? Is there anyway to reduce the cost of rent like renting a room? Can you move somewhere where the rent is cheaper? working 25 hours per week Working 25 hours per week an... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan | My son is in a similar situation where he is 21 and in college. My wife and I claimed him as a dependant on our taxes last year. He had still been able to get some student loans as a dependant as well as scholarships. I have told him that we will not cosign on a loan for him. It isn't because we don't like our son, it ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan | I was in a similar (but not quite as bad situation) a couple years ago, and I had a stroke of luck that helped me, but your friend might be able to force a similar situation. My parents refused to take out the huge parent loan (understandably so), but my dad made enough money that I wasn't eligible for much aid. My st... |
Share your insights or perspective on the financial matter presented in the input. | College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan | If the 6 credits per semester working part time schedule includes no loans, consider this. Yes, it may take you twice as long to finish, BUT, you'll have a lot of working experience, AND zero student loans when you're done. Compare this to someone who graduates in four years and has 20k in student loans. If they set ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan | I was in that same situation years ago with my parents. One way she could apply for a loan in her name without her parents is if she is not currently living with them she shouldn't need them to cosign if she doesn't have bad credit. But if she isn't living with them and they aren't financing her room and board they can... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Should I pay off my car loan within the year? | Personally, I don't think that the interest from the car loan is worth the credit history you're building through it. There are other ways to build credit that don't require you to pay interest, like the credit card you mentioned (so long as you keep paying off the balance). So I'd go that route: ditch the auto loan an... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Should I pay off my car loan within the year? | Something I'd like to plant firmly into your mind - If you're able to save up enough money to buy the things you want outright, credit will be of little use to you. Many people find once they've accumulated very good credit scores by use of good financial habits, that they rarely end up using credit, and get little out... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Should I pay off my car loan within the year? | Contrary to popular belief, you can build your credit (if that is important to you) without paying a penny in interest. This is done through the responsible use of credit cards, paying the bill in full each month without accruing any interest charges. If I were you, I would pay off the loan today, if possible. After ... |
Share your insights or perspective on the financial matter presented in the input. | Should I pay off my car loan within the year? | Generally, banks will report your loan to at least one (if not all three) credit bureaus - although that is not required by law. The interest you're paying, in addition to your insurance isn't justifiable for building credit. I would recommend paying the car off and then perhaps applying for a secure credit card if you... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Should I pay off my car loan within the year? | Your plan isn't bad, but it probably isn't worth the cost for the small amount of credit building it will achieve. If you do decide to continue with it though, you'll save in interest if you make the big payment now rather than in 6 months. In other words, you can take the minimum payment, multiply it by 5, subtract th... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Should I pay off my car loan within the year? | Typically the power of capitalized interest would work in your favor and you could carry the loan paying it down while investing the original sum which would earn interest. BUT you aren't going to get any sort of return to compare with 15% so pay off that loan immediately. Also contrary to popular belief (and reiterate... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Should I pay off my car loan within the year? | Credit reports have line items that, if all is well, say "paid as agreed." A car loan almost certainly gets reported. In your case it probably says the happy "paid as agreed." It will continue to say that if you pay it off in full. You can get the happy "paid as agreed" from a credit card too. You can get it by payin... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Should I pay off my car loan within the year? | Pay it off....I've only ever paid interest on mortgages to buy the houses I've lived in (I paid both mortgages of years ahead of schedule) & as a result my credit rating's way above average, I use credit cards for everything, pay 'em off in full every month unless I'm paid not to (currently have around 8,000 sitting in... |
Share your insights or perspective on the financial matter presented in the input. | Should I pay off my car loan within the year? | First, don't owe (much) money on a car that's out of warranty. If you have an engine blow up and repairs will cost the lion's share of the car's bluebook value, the entire car loan immediately comes due because the collateral is now worthless. This puts you in a very miserable situation because you must pay off the c... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Which practice to keep finances after getting married: joint, or separate? | If you ask ten different couples what they do, depending on a variety of factors, you'll get anywhere between two and ten different answers. One personal finance blogger that I read swears by the fact that he and his wife keep their finances totally separate. His wife has her own retirement account, he has his. His w... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Which practice to keep finances after getting married: joint, or separate? | Echoing Justkt, different approaches will work for different couples. It also depends on your background, life experience, age, maturity.... Irrespective of the structure, any agreement must be based on a thorough understanding of the mechanism by which responsibility and accountability is apportioned. As in any finan... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Which practice to keep finances after getting married: joint, or separate? | I feel there are two types of answer: One: the financial. Suck all the emotion out of the situation, and treat the two individuals as individuals. If that works for the two of you, fantastic. Two: the philosophical. You're married, it's a union, so unify the funds. If that works for you, fantastic. Personally, my partn... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Which practice to keep finances after getting married: joint, or separate? | We've had everything in one pot almost from day one of marriage. The key ingredients to making that arrangement work is to communicate about the money, and realize that you're in it together. Everything one person does affects the other. Separating finances compartmentalizes the "affecting one another" part and makes ... |
Share your insights or perspective on the financial matter presented in the input. | 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... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Which practice to keep finances after getting married: joint, or separate? | Here are the main ways of doing this that I've encountered. I've met advocates of each. You might be interested in this set of articles: http://www.slate.com/id/2281885/ which looks at some different ways of doing this and the financial - and other - effects. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Which practice to keep finances after getting married: joint, or separate? | My wife and I maintain seperate accounts. We have the bills split between us so that certain bills are paid by one of us, and other bills by the other. This is not a perfect 50/50 split as we don't make the same amount of money, but comparable enough that neither feels like they're doing all the bills alone. Our invest... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Which practice to keep finances after getting married: joint, or separate? | This particular topic has probably been beaten to death already. But from the other comments, it seems that splitting finances them is a popular solution on this forum. I can see the individual benefit of this - makes it easy to go buy whatever you want. But it can hurt too. What if the situation changes, and you a... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Which practice to keep finances after getting married: joint, or separate? | I personally think that you should do whatever you believe works best. I am not married but when I get married I would also want to do what you are doing with having a joint account for certain things but also still having seperate accounts. I find this is a good approach so that neither of you is dependent finanically... |
Share your insights or perspective on the financial matter presented in the input. | Avoiding Capital Gains Long Term | Yes, you could avoid capital gains tax altogether, however, capital gains are used in determining your tax bracket even though they are not taxed at that rate. This would only work in situations where your total capital gains and ordinary income kept you in the 0% longterm capital gains bracket. You can't realize a mi... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Avoiding Capital Gains Long Term | It's correct. Be sure of your personal opportunity cost and not that you're letting the tax tail wag the dog just to score "tax free". Your upside is $3,700 (single) or $7,000 (married) in taxes saved until you're out of the 0% zone. Is that worth not receiving an income? Even if your savings are such that you don'... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Should I pay cash or prefer a 0% interest loan for home furnishings? | There are several issues with paying for furniture and appliances with 0% credit instead of paying with cash. When you pay with 0% credit, you might be tempted to spend more on something than you would have if you paid with cash, because it feels like free money, and you've justified in your mind that the extra you ear... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Should I pay cash or prefer a 0% interest loan for home furnishings? | Read the terms and conditions very carefully. Many zero percent deals have a requirement that you pay back at a certain date, and if you don't, you'll have to pay some enormous percentage. Nobody will remind you of the date, because the lender has the secret hope that you will forget. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Should I pay cash or prefer a 0% interest loan for home furnishings? | If you can set up automatic payments (like direct debits in the UK) and you can be disciplined enough to not spend the money on something else then this can be a good way of building/improving your credit rating. Banks / Lenders like it when they see you have previously taken, and repaid, credit. This can help you get ... |
Share your insights or perspective on the financial matter presented in the input. | Should I pay cash or prefer a 0% interest loan for home furnishings? | A friend recently bought an 800€ TV on 0% financing. Sounded like a sensible thing to do. Why pay 800 when you can pay 80pm for 10 months? It took 30mins to set up the 'loan'. She had to sign all kinds of documents, giving away much personal information (age, employment info, income, email address etc). She now has a f... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Should I pay cash or prefer a 0% interest loan for home furnishings? | If a shop offers 0% interest for purchase, someone is paying for it. e.g., If you buy a $X item at 0% interest for 12 months, you should be able to negotiate a lower cash price for that purchase. If the store is paying 3% to the lender, then techincally, you should be able to bring the price down by at least 2% to 3% i... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Should I pay cash or prefer a 0% interest loan for home furnishings? | Two cases: You take the credit and reinvest the cash equivalent (be it a savings account or otherwise), yielding you the x% at virtually zero risk. Unless of course you consider possibility of your own negligence a risk (in case of missed payments, etc.). You pay by cash and have the peace of mind at the cost of that x... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Should I pay cash or prefer a 0% interest loan for home furnishings? | Remember that due to inflation you are paying back the loan with cheaper dollars in the future. If there are no gimmicks in the loan like early payment penalties, or must pay by a certain date or that the credit was for a store that sold the products at a higher price than you could get elsewhere then you are not just... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Should I pay cash or prefer a 0% interest loan for home furnishings? | 0% furniture loans can hurt your credit rating. I was told by a bank mortgage officer (sorry I can't cite a document) that credit rating algorithms consider "consumer" loans like 0% appliance loans and certain store-specific credit cards as a negative factor, lowering your overall score. The rationalization given was t... |
Share your insights or perspective on the financial matter presented in the input. | Should I pay cash or prefer a 0% interest loan for home furnishings? | There are lots of good points here already, but something that hasn't been mentioned yet is what would happen if the purchased items break or are somehow defective? Depending on the warranty and how trustworthy the company is, there could be an advantage to not having fully paid for the item yet when a defect is discov... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What is the best asset allocation for a retirement portfolio, and why? | You're right, the asset allocation is one fundamental thing you want to get right in your portfolio. I agree 110%. If you really want to understand asset allocation, I suggest any and all of the following three books, all by the same author, William J. Bernstein. They are excellent – and yes I've read each. From a t... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What is the best asset allocation for a retirement portfolio, and why? | This turned out be a lot longer than I expected. So, here's the overview. Despite the presence of asset allocation calculators and what not, this is a subjective matter. Only you know how much risk you are willing to take. You seem to be aware of one rule of thumb, namely that with a longer investing horizon you can... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What is the best asset allocation for a retirement portfolio, and why? | Aggressiveness in a retirement portfolio is usually a function of your age and your risk tolerance. Your portfolio is usually a mix of the following asset classes: You can break down these asset classes further, but each one is a topic unto itself. If you are young, you want to invest in things that have a higher retur... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What is the best asset allocation for a retirement portfolio, and why? | It's all about risk. These guidelines were all developed based on the risk characteristics of the various asset categories. Bonds are ultra-low-risk, large caps are low-risk (you don't see most big stocks like Coca-Cola going anywhere soon), foreign stocks are medium-risk (subject to additional political risk and curre... |
Share your insights or perspective on the financial matter presented in the input. | What is the best asset allocation for a retirement portfolio, and why? | The best asset allocation is one that lets you sleep well at night. Can you stomach a loss of 50% and hold on to that asset for 3 years, 5 years, or however long it will take to bounce back while everyone is telling you to sell it at a loss? All these calculations will be thrown out the window at the next market panic.... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What is the best asset allocation for a retirement portfolio, and why? | Take the easy approach - as suggested by John Bogle (founder of Vanguard - and a man worthy of tremendous respect). Two portfolios consisting of 1 index fund each. Invest your age% in the Fixed Income index fund. Invest (1-age)% in the stock index fund. Examples of these funds are the Total Market Index Fund (VTSMX) a... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Gigantic point amount on rewards card - what are potential consequences? | I can't give you proper legal advice, but if I called their customer service and used half an hour of my time to wait and explain the situation in detail, and their official response was "just use the points," I would do just that. Of course you would have stronger legal standing if you had recorded their answer, or ha... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Gigantic point amount on rewards card - what are potential consequences? | I would behave exactly as I would expect it from others. If you were the one giving away too many points by accident you would be thankful if somebody notifies you about this error. You can write a letter or call them. I would not use the points (of course only not use the points which are added in error). Other option... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Gigantic point amount on rewards card - what are potential consequences? | If you want to maximize your expected benefits, at minimal risk of financial repercussions or sleepless nights, I would suggest the following. Send an email explaining the situation, and announce that you plan to use the points if they do not advise otherwise. Here is an example message: Dear sir/madam, I recently cont... |
Share your insights or perspective on the financial matter presented in the input. | Gigantic point amount on rewards card - what are potential consequences? | Of course, as a 'good' person (or maybe a 'stupid' person), I should call them, (wait 30 minutes in the queue), and then try to explain the issue to the service desk. I actually did that, and the guy thought I am nuts to even call, and told me to 'just use them they are yours now'. I don't feel like calling again and a... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Gigantic point amount on rewards card - what are potential consequences? | An ideal option for you would be to use as many or as few as you choose, but have all of them available to you. The service desk guy told you you can do exactly that. Problem, though: you have no proof that a representative of the company told you that. Get proof. Recording, written statement, whatever. If writing a le... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Gigantic point amount on rewards card - what are potential consequences? | First IANAL! This is going to depend on the kind of points. If it's an internal point system that the business is doing on their own, then they may very well, give you that many "extra" points. They may really not care. Specially if the cost of the points is low enough. Remember that steak dinner that you paid $60 for ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Gigantic point amount on rewards card - what are potential consequences? | Most likely scenario (A): You spend tons of time and effort talking to them, with the end result that they take away the extra points. You feel screwed having to do their job for them - they've given you no benefit for looking out for them, and you're left with the points you've earned but maybe less desire to go back... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Gigantic point amount on rewards card - what are potential consequences? | What would be the consequences if they do realize their error some day in the far future? You've informed them of the error and they've informed you that nevertheless the points are yours and you should use them. So you have a couple of issues: have you made what your jurisdiction considers a reasonable effort to cor... |
Share your insights or perspective on the financial matter presented in the input. | Why does an option lose time value faster as it approaches expiry | If you think about it, the value of an option comes from the chance that the price at the expiration date can exceed the strike price. As it gets closer to the expiration date, the chance is getting smaller, because there is simply not enough time for an out-of-money option to hit that strike. Therefore, the value of a... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why does an option lose time value faster as it approaches expiry | This is because volatility is cumulative and with less time there is less cumulative volatility. The time value and option value are tied to the value of the underlying. The value of the underlying (stock) is quite influenced by volatility, the possible price movement in a given span of time. Thirty days of volatilit... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Why does an option lose time value faster as it approaches expiry | NL7 is right and his B-S reference, a good one. Time decay happens to occur in a way that 2X the time gives an option 1.414X (the square root of 2) times the value, so half the time means about .707 of the value. This valuation model should help the trader decide on exactly how far out to go for a given trade. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why does an option lose time value faster as it approaches expiry | Don´t forget that changing volatility will have an impact on the time value too! So at times it can happen that your time value is increasing instead of decreasing, if the underlying (market) volatility moves up strongly. Look for articles on option greeks, and how they are interdependent. Some are well explaining in s... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Why does an option lose time value faster as it approaches expiry | Not cumulative volatility. It's cumulative probability density. Time value isn't linear because PDFs (probability distribution function) aren't linear. It's a type of distribution e.g. "bell-curves") These distributions are based on empirical data i.e. what we observe. BSM i.e. Black-Scholes-Merton includes the factors... |
Share your insights or perspective on the financial matter presented in the input. | Why does an option lose time value faster as it approaches expiry | Here's another attempt at explanation: it's basically because parabolas are flat at the bottom. Let me explain. As you might know, the variance of the log stock price in Black Scholes is vol^2 * T, in other words, variance of the log stock price is linear in time to expiry. Now, that means that the standard deviation ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What would I miss out on by self insuring my car? | Convenience, and of course money. In case of an event, you'll have to spend the full worth of money to fix/replace, while if you're insured - you get the insurance to pay for it. It is up to you to decide, if the money saved on the lower premiums worth the risk of paying much more in case of an event. Of course, the ch... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What would I miss out on by self insuring my car? | As you suspected, there is more than just car replacement taken care of by insurance (some of them are pointed out in Chad's story: |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What would I miss out on by self insuring my car? | You lose your agent services. When my wife wrecked our car 3 years ago our agent took care of everything. He got us a rental car, made the arrangements to get it fixed, checked in to see how we were doing, and even helped us set up a second opinion on my wifes wrist surgery. The accident was ruled the fault of the un... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What would I miss out on by self insuring my car? | You're trading a fixed liability for an unknown liability. When I graduated from college, I bought a nice used car. Two days later, a deer came out of nowhere, and I hit it going 70 mph on a highway. The damage? $4,500. If I didn't have comprehensive insurance, that would have been a real hit to me financially. For me,... |
Share your insights or perspective on the financial matter presented in the input. | What would I miss out on by self insuring my car? | If you can afford to replace your car, it is more cost effective, on average and over time, not to carry comprehensive and collision insurance. The insurance companies do make a profit, after all. However, you may be able to worry less ("What if someone steals my car if I park here?") with the insurance, and you have t... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What would I miss out on by self insuring my car? | One way to look at insurance is that it replaces an unpredictable expenses with a predictable fees. That is, you pay a set monthly amount ("premium") instead of the sudden costs associated with a collision or other covered event. Insurance works as a business, which means they intend to make a substantial profit for pr... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What would I miss out on by self insuring my car? | Here's what you do without, on the negative side, just for balance: A bill: When I last had comprehensive insurance, it cost something like 3-4% of the value of the car per annum. (Obviously ymmv enormously but I think that's somewhere near the middle of the range and I'm not especially risky.) So, compared to the to... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What would I miss out on by self insuring my car? | Insurance is to mitigate risk you can't handle yourself. (All insurance, not just car insurance.) The expected value of the insurance will always cost more than the expected value of your loss, that's how the insurance company makes money. But sometimes the known fixed cost is better for your ability to sleep at nig... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What would I miss out on by self insuring my car? | As others have pointed out, it's all about a fixed, small cost versus the potential of a large cost. If you have insurance, you know you will pay a fixed amount per month. There is a 100% probability that you will have to pay this premium. If you don't have insurance, there is a large chance that you will have no cost ... |
Share your insights or perspective on the financial matter presented in the input. | Can Mutual Funds Invest In the Start Up Market? | Bloomberg suggests that two Fidelity funds hold preferred shares of Snapchat Inc.. Preferred shares hold more in common with bonds than with ordinary stock as they pay a fixed dividend, have lower liquidity, and don't have voting rights. Because of this lower liquidity they are not usually offered for sale on the marke... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | US tax for a resident NRI | If you are tax-resident in the US, then you must report income from sources within and without the United States. Your foreign income generally must be reported to the IRS. You will generally be eligible for a credit for foreign income taxes paid, via Form 1116. The question of the stock transfer is more complicated,... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | US tax for a resident NRI | Please declare everything you earn in India as well as the total amount of assets (it's called FBAR). The penalties for not declaring is jail time no matter how small the amount (and lots of ordinary people every 2-3 years are regularly sent to jail for not declaring such income). It's taken very seriously by the IRS -... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How to withdraw money from currency account without having to lose so much to currency conversion? | If I understand your question, you're misunderstanding the buy/sell spread, and at least in this instance seem to be in an unfortunate situation where the spread is quite large. The Polish Zloty - GBP ideal exchange rate is around 5.612:1. Thus, when actually exchanging currency, you should expect to pay a bit more th... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How to withdraw money from currency account without having to lose so much to currency conversion? | In answer to the "how I can perform withdrawal with the lower rate (having GBP)?" part of your question, as Joe stated you need to use another bank or currency exchange company to convert the GBP to PLN. Most of the UK banks charge similar amounts, and it's usually not possible to transfer the GBP to a foreign bank un... |
Share your insights or perspective on the financial matter presented in the input. | How to withdraw money from currency account without having to lose so much to currency conversion? | In your position I would use one of the existing Polish currency exchange platforms (you can find a list here: http://jakikantor.pl). A few of them have bank accounts in Britain so the exchange rate will be close to market price. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How do I get into investing? | Don't do it until you have educated yourself enough to know what you are doing. I hope you won't take this personally, but given that you are wandering around asking random strangers on the Internet how to "get into investing," I feel safe in concluding that you are by no means a sophisticated enough investor to be cho... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How are stock buybacks not considered insider trading? | In fact, buybacks WERE often considered a vehicle for insider trading, especially prior to 1982. For instance, Prior to the Reagan era, executives avoided buybacks due to fears that they would be prosecuted for market manipulation. But under SEC Rule 10b-18, adopted in 1982, companies receive a “safe harbor” from ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How are stock buybacks not considered insider trading? | In most countries there are specific guidelines on buy backs. It is never a case where by one fine morning company would buy its shares and sell it whenever it wants. In general company has to pass a board resolution, sometimes it also requires it to be approved by share holders. It has to notify the exchange weeks in ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How are stock buybacks not considered insider trading? | Companies already have to protect themselves against employees trading the company's shares with insider information. They typically do that in a number of ways: Taken together, this tends to mostly mitigate the risk of employees trading with insider information, though it's probably not perfect. In practice, the compa... |
Share your insights or perspective on the financial matter presented in the input. | How are stock buybacks not considered insider trading? | Another way to look at this is that pure insider trading is an activity with the aim to use secret information to make personal profit or let others make personal profit at the expense of the company shareholders or investors. In buybacks, it is not company managers to get personal gain in this would-be "insider tradin... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How are stock buybacks not considered insider trading? | The reason that stock buybacks are not considered insider trading is because the offers are open to all on equal terms to everyone outside the company. Even if the company knows "inside" information, it's not supposed to tell it (and company executives are not allowed to tender shares, unless they had previously set up... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How are stock buybacks not considered insider trading? | Buybacks do not increase the company's value. Cash is traded for outstanding shares. This is similar to a dividend, but instead of cash, investors receive a rising share-price. Whether an investor prefers a cash dividend or capital gains is less important than the outcome that their investment is gaining value for them... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Co- Signed car loan and need to have the other signer relinquish claim to ownership | The key here is the bank, they hold the title to the car and as such have the final say in things. The best thing you can do is to pay off the loan. Could you work like crazy and pay off the car in 6 months to a year? The next best thing would be to sell the car. You will probably have to cover the depreciation out o... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Co- Signed car loan and need to have the other signer relinquish claim to ownership | Your arrangements with the bank are irrelevant. Whoever is named on the title of the vehicle owns it. If she is the "primary", then I assume her name is on the title, therefore she owns the car. If you drive off with the car and it is titled in her name, she can report it stolen and have you arrested for grand theft au... |
Share your insights or perspective on the financial matter presented in the input. | Cash flow implications of converting primary mortgaged residence to rental | The rental income is indeed taxable income, but you reduce the taxable portion of it by deducting expenses (including mortgage interest, maintenance, insurance, HOA, real estate tax, and of course depreciation). Due to the depreciation, you may end up breaking even, or having very little taxable income. Note that when ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Cash flow implications of converting primary mortgaged residence to rental | You are assuming 100% occupancy and 100% rent collection. This is unrealistic. You could get lucky and find that long term tenant with great credit that always pays their bills... but in reality that person usually buys a home they do not rent long term. So you will need to be prepared for periods of no renters and ... |
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