Datasets:
circircircle
/
FinQA

Dataset card Data Studio Files
xet
 Community
text
stringlengths
146
45.7k
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it irresponsible for me to lease a $300/month car for 18 months? ### Answer: With a gross income of $ 95,000 per year, and a net savings rate of over $ 18,000 per year, a budget of $ 3,600 per year...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it irresponsible for me to lease a $300/month car for 18 months? ### Answer: Some questions: Will you need a car after 18 months? What are you going to do then? How likely are you able to go over ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it irresponsible for me to lease a $300/month car for 18 months? ### Answer: Presumably you need a car to get to work, so let's start with the assumption that you need to buy something to replace t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Help required on estimating SSA benefit amounts ### Answer: Some details in case you are interested: Being a defined benefit kind of pension plan, the formula for your Social Security benefits isn't t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Help required on estimating SSA benefit amounts ### Answer: There has been an abundance of articles in recent years which make it fairly clear that many participants in the Social Security system-- es...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Help required on estimating SSA benefit amounts ### Answer: The social security administration has a webpage to get your Social Security estimate. It replaces the yearly estimate they used to mail eve...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are real-term bond yields systematically declining, and what does it mean for investors? ### Answer: Keep in mind there are a couple of points to ponder here: Rates are really low. With rates bein...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are real-term bond yields systematically declining, and what does it mean for investors? ### Answer: On a longer time scale, the plot thickens: It almost looks random. A large drop in real rates...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the price of my investment only updated once per day? ### Answer: Mutual funds are collections of investments that other people pay to join. It would be simpler to calculate the value of all t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the price of my investment only updated once per day? ### Answer: Mutual funds are only traded once per day, while other securities can be traded any time during the day. Mutual funds are actua...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the price of my investment only updated once per day? ### Answer: I strongly suggest you go to www.investor.gov as it has excellent information regarding these types of questions. A mutual fund...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the price of my investment only updated once per day? ### Answer: Mutual funds are a collection of other assets, such as stocks, bonds and property. Unless the fund is a type that is traded on ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the price of my investment only updated once per day? ### Answer: There is no fundamental, good reason, I think; "that's just how it's done" (which is what all the other answers seem to be sayi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Borrowed shares how are they tracked? ### Answer: Brokerage firms are required to report the number of shares being shorted. This information is reported to the exchange (NYSE of NASDAQ) and is made ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it possible to eliminate PMI (Personal/Private Mortgage Insurance) on a mortgage before reaching 20% down on principal? ### Answer: On a 5% mortgage, after 24 months of payments on a 30 yr amortiza...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it possible to eliminate PMI (Personal/Private Mortgage Insurance) on a mortgage before reaching 20% down on principal? ### Answer: Banks are currently a lot less open to 'creative financing' than ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Refinance when going to sell? ### Answer: When evaluating a refinance, it all comes down to the payback. Refinancing costs money in closing costs. There are different reasons for refinancing, and they...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Refinance when going to sell? ### Answer: In the first years of a loan, most of what you're paying is interest, so my guess is that this is a bad idea. But there are lots of mortgage calculators offer...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Advice for college student: Should I hire a financial adviser or just invest in index funds? ### Answer: Couple of clarifications to start off: Index funds and ETF's are essentially the same investmen...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Advice for college student: Should I hire a financial adviser or just invest in index funds? ### Answer: Exactly what you do with the money depends on various personal choices you'll have to make for ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Advice for college student: Should I hire a financial adviser or just invest in index funds? ### Answer: Two things to consider: When it comes to advice, don't be "Penny wise and Pound foolish". It is...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Advice for college student: Should I hire a financial adviser or just invest in index funds? ### Answer: Though @mehassee mentioned it in a comment, I would like to emphasize the point that the financ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Advice for college student: Should I hire a financial adviser or just invest in index funds? ### Answer: If you use a financial planner not only should they be a fiduciary but you should just pay them...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: First Time Home Buyers - Down Payment, PMI and Points ### Answer: 1 - For FHA loans PMI is required for mortages where there is not at least 20% equity. Bank Financed Non-FHA loans may have other sta...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: First Time Home Buyers - Down Payment, PMI and Points ### Answer: The question Why would refinancing my mortgage increase my PMI, even though rates are lower? contains a decent discussion of PMI. It's...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a bull put spread? ### Answer: Bull means the investor is betting on a rising market. Puts are a type of stock option where the seller of a put option promises to buy 100 shares of stock from ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does an individual share of a stock have some kind of unique identifier? ### Answer: I agree with the answer by @Michael that this number doesn't exist. It's hard to see what use it would have and it...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does an individual share of a stock have some kind of unique identifier? ### Answer: There is no unique identifier that exists to identify specific shares of a stock. Just like money in the bank, ther...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does an individual share of a stock have some kind of unique identifier? ### Answer: Nope, think what a nightmare that would be, a bunch of shares would be issued and then sold to tonnes of people, wh...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the best way to help my dad consolidate his credit card debt at a lower rate? ### Answer: Are you doing the right thing? Yes, paying back some of the expense of college is a great way to show ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the best way to help my dad consolidate his credit card debt at a lower rate? ### Answer: I agree with you that you need to consolidate this debt using a loan. It may be hard to find a bank or...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is there inconsistent returns difference between direct and regular Mutual Funds? ### Answer: If this is the case, then shouldn't the difference between their annualized returns be same year on ye...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is there inconsistent returns difference between direct and regular Mutual Funds? ### Answer: (This answer refers to the US investment landscape) I'm not sure your classification of funds as direc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What retirement plans/options should i pick for a relatively unstable career path? ### Answer: Your retirement plan shouldn't necessarily be dictated by your perceived employment risks. If you're feel...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to Create Personal Balance Sheet and Budget Plan for Several Accounts ### Answer: As your financial situation becomes more complex, it becomes increasingly more difficult to keep track of everythi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What does it mean to long convexity of options? ### Answer: First lets understand what convexity means: Convexity - convexity refers to non-linearities in a financial model. In other words, if the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What does it mean to long convexity of options? ### Answer: Long convexity is achieved by owning long dated low delta options. When a significant move occurs in the underlying the volatility curve wil...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What does it mean to long convexity of options? ### Answer: Convexity refers to vega. Gamma refers to delta. Negative carry refers to time decay. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do banks insist on allowing transactions without sufficient funds? ### Answer: The reason they want the transaction to go through is because they make money that way. Remember the overdraft protec...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do banks insist on allowing transactions without sufficient funds? ### Answer: Believe it or not, this is done as a service to you. The reason for this has to do with a fundamental difference betw...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do banks insist on allowing transactions without sufficient funds? ### Answer: The laws about this changed in 2010 with the new Overdraft Protection Law HR 1261. § 140B. (c) Consumer consent opt-...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do banks insist on allowing transactions without sufficient funds? ### Answer: This really should be a comment, but I can't yet. The question desperately needs a location tag. In at least some cou...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Saving up for an expensive car ### Answer: The question is how does $16,000/year for 6.5 years fit into your budget. Or to put it another way, what won't you be spending that money on? Housing, food, ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Saving up for an expensive car ### Answer: I've read online that 20% is a reasonable amount to pay for a car each month - Don't believe everything you read on the internet. But, let me ask, does your...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Saving up for an expensive car ### Answer: If you can afford to put $1,333 towards saving for a new car each month, then there is nothing wrong with your logic You should be aware that your car will p...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Saving up for an expensive car ### Answer: This seems really simple to me. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Saving up for an expensive car ### Answer: Any way you look at it, this is a terrible idea. Cars lose value. They are a disposable item that gets used up. The more expensive the car, the more value ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a good 5-year plan for a college student with $15k in the bank? ### Answer: I disagree with the IRA suggestion. Why IRA? You're a student, so probably won't get much tax benefits, so why locki...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a good 5-year plan for a college student with $15k in the bank? ### Answer: Fifteen thousand dollars is not a whole lot of cash. It should probably be kept liquid. To that end, savings accou...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a good 5-year plan for a college student with $15k in the bank? ### Answer: You can put them in a 5 years CD and getting a maximum of %2.5 APY if you're lucky. If you put 15k now, in 5 years y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a good 5-year plan for a college student with $15k in the bank? ### Answer: I just checked TCF's rates, and they only pay a miserly rate of 0.25%. Banks like Capital One or Sallie Mae pay abou...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a good 5-year plan for a college student with $15k in the bank? ### Answer: First thing to do right now, is to see if there's somewhere equally liquid, equally risk free you can park your cash...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a good 5-year plan for a college student with $15k in the bank? ### Answer: A good question -- there are many good tactical points in other answers but I wanted to emphasize two strategic poin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Fundamentals of creating a diversified portfolio based on numbers? ### Answer: Good question. There are plenty of investors who think they can simply rely on intuition, and although luck is always pre...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Fundamentals of creating a diversified portfolio based on numbers? ### Answer: Most of the “recommendations” are just total market allocations. Within domestic stocks, the performance rotates. Someti...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Fundamentals of creating a diversified portfolio based on numbers? ### Answer: Your question is a complex one because knowledge of the investor's beliefs about the market is required. For almost any ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Difference between Hedge Fund and Private Equity? ### Answer: Private Equity is simply some type of an investment company, which is owned in a way not accessible to the public. ie: Warren Buffet runs ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Deposit cash into US bank account ### Answer: Sure; you can deposit cash. A few notes apply: Does the source of cash need to be declared ? If you deposit more than $10,000 in cash or other negotiable ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I use a credit repair agency? ### Answer: Repairing your credit takes time. Companies that offer to do it for you (for money) generally succeed mostly at getting money from you. Nonprofit agenc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I use a credit repair agency? ### Answer: My sister had a similar problem and went to an actual lawyer, not a "credit repair agency". The lawyers settled her debt for a lot less than she owed...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I use a credit repair agency? ### Answer: Don't use a "credit repair" agency. They are scams. One of the myriad of ways in which they work is by setting you up with a bogus loan, which they wil...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I use a credit repair agency? ### Answer: I've kind of been there myself. I stretched my finances for the deposit on a house, and lived off my credit card for a few months to build up what I w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I use a credit repair agency? ### Answer: So you are in IT, that is great news because you can earn a fabulous income. The part time is not great, but you can use this to your advantage. You ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I use a credit repair agency? ### Answer: Here's what my wife and I did. First, we stopped using credit cards and got rid of all other expenses that we absolutely didn't need. A few examples: ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I use a credit repair agency? ### Answer: I think you already have a lot of good ideas here. I also don't agree with going with a company to "repair" your credit. They don't have any secret met...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Calculate time to reach investment goals given starting balance? ### Answer: The Finance functions in spreadsheet software will calculate this for you. The basic functions are for Rate, Payment, PV (...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Calculate time to reach investment goals given starting balance? ### Answer: Here's a formula; I had to go over to SEMath, use their MathJax to compose the answer and then paste this screen shot. As ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Calculate time to reach investment goals given starting balance? ### Answer: Fairly straightforward to match the result from the calculator soup link. There is a formula to calculate n from the futur...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Identifying “Dividend Stocks” ### Answer: If you don't have a good knowledge of finance, maybe you should not put too much money in individual stocks. But if you really want to invest, you can just co...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Identifying “Dividend Stocks” ### Answer: How to find good divided stocks? Research and read. Google, Yahoo, and most likely your broker offer some sort of stock screener tool where you can look for s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Identifying “Dividend Stocks” ### Answer: How do you find good quality dividend stocks? That is an easy one. Past performance has always been my key to this answer. also remember why you are investing...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to measure a currencies valuation or devaluation in relevance to itself ### Answer: It's very hard to measure the worth of an abstract concept like money, particularly over long periods of time. I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to measure a currencies valuation or devaluation in relevance to itself ### Answer: The measure of change of value of a currency in relation to itself is inflation (or deflation). ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to measure a currencies valuation or devaluation in relevance to itself ### Answer: As the value of a currency declines, commodities, priced in that currency, will rise. The two best commodities t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should a 19 year old with a moderate inheritance look for in a financial advisor? ### Answer: I think your question is pretty wise, and the comments indicate that you understand the magnitude of ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to make a decision for used vs new car if I want to keep the car long term? ### Answer: This is my opinion as a car nut. It depends on what you want out of a car. For your situation (paying cash, ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to make a decision for used vs new car if I want to keep the car long term? ### Answer: Hard to say in general. It depends on the actual numbers. First you need to check the suggested retail pric...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to make a decision for used vs new car if I want to keep the car long term? ### Answer: In a perfect world scenario you would get a car 2-5 years old that has very little mileage. One of the long...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to make a decision for used vs new car if I want to keep the car long term? ### Answer: New cars are sold for about $500 over their blue book value. They drop in value by about 20% their first yea...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A little advice please…car loan related ### Answer: Let's assess the situation first, then look at an option: This leaves you with about $1,017/mo in cash flow, provided you spend money on nothing els...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A little advice please…car loan related ### Answer: Suggested way to make the decision to repair or buy: Figure out what it will cost to repair your car. (If necessary, pay a garage to evaluate it "as...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Oversimplify it for me: the correct order of investing ### Answer: I am a firm believer in the idea of limiting debt as much as possible. I would not recommend borrowing money for anything other than...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Oversimplify it for me: the correct order of investing ### Answer: One can generalize on Traditional vs Roth flavors of accounts, I suggest Roth for 15% money and going pretax to avoid 25% tax. If th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Oversimplify it for me: the correct order of investing ### Answer: Organize your expenses in order of the rate of return, and pay them in that order. By far the highest rate of return on your list is...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Oversimplify it for me: the correct order of investing ### Answer: Money is a tool. Here is an "oversimplified" order of investments: ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Oversimplify it for me: the correct order of investing ### Answer: Great questions -- the fact that you're thinking about it is what's most important. I think a priority should be maximizing any emplo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Oversimplify it for me: the correct order of investing ### Answer: All of the provided advice is great, but a slightly different viewpoint on debt is worth mentioning. Here are the areas that you shou...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Oversimplify it for me: the correct order of investing ### Answer: It isn't always clear cut that you should pay off a debt at all, particularly a mortgage. In simple terms, if you are making a better...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much time does a doctor's office have to collect balance from me? ### Answer: They have forever to collect a balance from you. Furthermore they can add whatever penalties and fees they wish to in...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much time does a doctor's office have to collect balance from me? ### Answer: If they had told me that I owe them $10,000 from 3 years ago, I wouldn't have anything to fight back. Why? First thi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much time does a doctor's office have to collect balance from me? ### Answer: Seems like the doctor's office is not very organized. Ask for a line itemized bill. You want the date and the specific...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: 401k with paltry match or SPY ETF? ### Answer: Answers: 1. Is this a good idea? Is it really risky? What are the pros and cons? Yes, it is a bad idea. I think, with all the talk about employer matches...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: 401k with paltry match or SPY ETF? ### Answer: I think you understood much of what I say, in general. Unfortunately, I didn't follow Patches math. What I gleen from your summary is a 1% match to the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: 401k with paltry match or SPY ETF? ### Answer: Switching to only 401k or only SPY? Both bad ideas. Read on. You need multiple savings vehicles. 401k, Roth IRA, emergency fund. You can/should add o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Next option(s) after house is not selling on market? ### Answer: EDIT: new ideas based on the full story. I wouldn't worry about the price history. While it is certainly true that some buyers might t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I pick the right company for investing services? ### Answer: Traditional brokers There are tons of players in this market, especially in USA. You have traditional brokers, brokers tied to your ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the purpose of property tax? ### Answer: Property taxes, where they exist, are generally levied by cities, counties and other local-level administrative bodies like MUDs, and are the primary s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the purpose of property tax? ### Answer: Property taxes, at least in Canada, are levied by the municipality or city in which the property is situated. For many cities, it is a significant sou...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the purpose of property tax? ### Answer: Property taxes cover more items than have already been mentioned. As an example, my property tax bill lists the following items: county general purpos...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the purpose of property tax? ### Answer: Governments only have a few ways to get income: tax income, tax consumption, tax property (cars & boats), tax real estate, or tax services (hotel & mea...