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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: The other answers here do an excellent job of laying out the mathematics of the expected value. Here is a d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: If you just buy a few lotto tickets normally, then no, it's not going to be a good investment, as @Jasper h...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: The billion dollar jackpot is a sunk cost, a loss for prior bettors. If you had $250M and could buy every t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: Others have already explained why lotteries have negative expected value, so in that sense it is never wise...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: Question: Does a billion dollars make you 1,000 times more happy than a million dollars? Answer: It doesn't...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: I estimated that the mean expected cash value of a $ 1.00 MegaMillions ticket in the July 5, 2016 drawing w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: I realize that most posters are US based, but the UK on Saturday had its biggest ever payout (a miserable £...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: Firstly, playing the lottery is not investing it is gambling. The odds in gambling are always against you a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: I think playing certain kinds of lottery is as economically sound as buying certain kinds of insurance. A ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: Gambling is never a wise investment. Even assuming that the stated odds are correct, there can be multiple ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: You can have a positive expected return on a lottery ticket purchase, but only if the lottery requires all ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: Possibly, if you can get them at a discount. But not if you have to pay full price. Say there's a $1 milli...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: Lottery tickets where I live are often for charity. The charity does good things with your money. So you ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: A lot of these answers are really weak. The expected value is pretty much the answer. You have to also tho...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: Is playing the lottery a wise investment? --Probably not. Is playing the lottery an investment at all? --P...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: Here's an interesting link to a discussion about an Australian investor group back in the 1990s that bought...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: Mathematically speaking there would be a point where the expected value EV of purchasing every possible t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: Lotteries are like the inverse of insurance policies. Instead of paying money to mitigate the impact of an ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are lottery tickets ever a wise investment provided the jackpot is large enough? ### Answer: According to a financial adviser I spoke to, lottery is the riskiest of investments, whereas cash is the sa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a self-employed person have a Health Savings Account? ### Answer: Whether you can establish an HSA has nothing to do with your employment status or your retirement plan. It has to do with the type...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a self-employed person have a Health Savings Account? ### Answer: IRS Publication 969 gives all the details about HSA accounts and High Deductible plans: According to your question you are covered...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Not paying cash for a house ### Answer: The common opinion is an oversimplification at best. The problem with buying a house using cash is that it may leave you cash-poor, forcing you to take out a ho...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Not paying cash for a house ### Answer: You could use the money to buy a couple of other (smaller) properties. Part of the rent of these properties would be used to cover the mortgage and the rest is ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Not paying cash for a house ### Answer: Pay cash for the house but negotiate at least a 4% discount. You already made your money without having to deal with long term unknowns. I don't get why people ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should we buy a house, or wait? ### Answer: Some highly pessimistic things worth noting to go alongside all the stability and tax break upside that homes generally provide: Negative equity is no joke ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should we buy a house, or wait? ### Answer: Advantages of buying: With every mortgage payment you build equity, while with rent, once you sign the check the money is gone. Eventually you will own the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should we buy a house, or wait? ### Answer: You are very young, you make a huge amount of money, and you have (from what information you provide) very little debt. If you simply want to buy a house fo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Small investing for spending money? ### Answer: First thing to know about investing is that you make money by taking risks. That means the possibility of losing money as well as making it. There are ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Small investing for spending money? ### Answer: Congrats on saving the money but unfortunately, you're looking for a 24% annual rate of return and that's not "reasonable" to expect. $200 per month, i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Small investing for spending money? ### Answer: The existing answers are good, I justed wanted to provide a simpler answer to your question: Would I be able to invest this in a reasonable way that it ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Small investing for spending money? ### Answer: Just to offer another alternative, consider Certificates of Deposit (CDs) at an FDIC insured bank or credit union for small or short-term investments. I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pay off credit card debt or earn employer 401(k) match? ### Answer: A matching pension scheme is like free money. No wait, it actually IS free money. You are literally earning 100% interest rate on th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pay off credit card debt or earn employer 401(k) match? ### Answer: Nope, take the match. I cannot see not taking the match unless you don't have enough money to cover the bills. Every situation is d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pay off credit card debt or earn employer 401(k) match? ### Answer: For easy math, say you are in the 25% tax bracket. A thousand deposited dollars is $750 out of your pocket, but $2000 after the matc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pay off credit card debt or earn employer 401(k) match? ### Answer: Agree with Randy, if debt and debt reduction was all about math, nobody would be in debt. It is an emotional game. If you've taken ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pay off credit card debt or earn employer 401(k) match? ### Answer: I'd take the match, but I wouldn't contribute beyond your match, for two reasons: ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pay off credit card debt or earn employer 401(k) match? ### Answer: Mathwise, I absolutely agree with the other answers. No contest, you should keep getting the match. But, just for completeness, I'...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pay off credit card debt or earn employer 401(k) match? ### Answer: I would definitely be putting in enough to get the most out of the match. Only reasons I can think of not too would be: Other than ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pay off credit card debt or earn employer 401(k) match? ### Answer: There is a very simple calculation that will answer the question: Is the expected ROI of the 401K including the match greater than t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I find a company's earnings history for free? ### Answer: www.earnings.com is helpful thinkorswim's thinkDesktop platform has a lot of earnings information tied with flags on their charts t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I find a company's earnings history for free? ### Answer: Regulators? SEC, in the US. Its public records for public companies. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I find a company's earnings history for free? ### Answer: I was going to comment above, but I must have 50 reputation to comment. This is a question that vexes me, and I've given it some th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Remit money to India from balance transfer of credit card ### Answer: Is this transaction legal Yes it is. Are there any tax implications in US? The interest is taxable in US. From what I understand,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Remit money to India from balance transfer of credit card ### Answer: As Dheer has already told you in his answer, your plan is perfectly legal, and there are no US tax issues other than making sure t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need to own all the funds my target-date funds owns to mimic it? ### Answer: If you read Joel Greenblatt's The Little Book That Beats the Market, he says: Owning two stocks eliminates 46% of the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need to own all the funds my target-date funds owns to mimic it? ### Answer: The goal of the single-fund with a retirement date is that they do the rebalancing for you. They have some set of ma...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need to own all the funds my target-date funds owns to mimic it? ### Answer: Over time, fees are a killer. The $65k is a lot of money, of course, but I'd like to know the fees involved. Are you d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Extended family investment or pay debt and save ### Answer: I would suggest, both as an investor and as someone who has some experience with a family-run trust (not my own), that this is probably not ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Extended family investment or pay debt and save ### Answer: Here's a little different perspective. I'm not going to talk about the quality of the investment, the expected return, or any of the other t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Extended family investment or pay debt and save ### Answer: It's a matter of opinion. As a general rule, my advice is to take charge of your own investments. Sending money to someone else to have them...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Couch Potato Portfolio for Europeans? ### Answer: The question is asking for a European equivalent of the so-called "Couch Potato" portfolio. "Couch Potato" portfolio is defined by the two URLs provid...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In what order should I save? ### Answer: This is a bit of an open-ended answer as certain assumptions must be covered. Hope it helps though. My concern is that you have 1 year of university left - is ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What bonds do I keep and which do I cash, why is the interest so different ### Answer: Bonds released at the same time have different interest rates because they have different levels of risks and liq...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would I want a diversified portfolio, versus throwing my investments into an index fund? ### Answer: Index funds are well-known to give the best long-term investment. Not exactly. Indexes give the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would I want a diversified portfolio, versus throwing my investments into an index fund? ### Answer: Diversification is extremely important and the one true "Free Lunch" of investing, meaning it c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would I want a diversified portfolio, versus throwing my investments into an index fund? ### Answer: Index funds are well-known to give the best long-term investment. Are they? Maybe not all the t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When the market crashes, should I sell bonds and buy equities for the inevitable recovery? ### Answer: When the market moves significantly, you should rebalance your investments to maintain the diver...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When the market crashes, should I sell bonds and buy equities for the inevitable recovery? ### Answer: The problem with the proposed plan is the word "inevitable". There is no such thing as a recover...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When the market crashes, should I sell bonds and buy equities for the inevitable recovery? ### Answer: In a comment you say, if the market crashes, doesn't "regress to the mean" mean that I should s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there anything I can do to prepare myself for the tax consequences of selling investments to buy a house? ### Answer: Don't let tax considerations be the main driver. That's generally a bad idea. Y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there anything I can do to prepare myself for the tax consequences of selling investments to buy a house? ### Answer: Have you changed how you handle fund distributions? While it is typical to re-...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there anything I can do to prepare myself for the tax consequences of selling investments to buy a house? ### Answer: If you need less than $125k for the downpayment, I recommend you convert your m...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I profit on the Chinese Real-Estate Bubble? ### Answer: Perhaps buying some internationally exchanged stock of China real-estate companies? It's never too late to enter a bubble or profit from...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I profit on the Chinese Real-Estate Bubble? ### Answer: Create, market and perform seminars advising others how to get rich from the Chinese Real-Estate Bubble. Much more likely to be profitab...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Short Term Capital Gains tax vs. IRA Withdrawal Tax w/o Quarterly Est. Taxes ### Answer: There is not a special rate for short-term capital gains. Only long-term gains have a special rate. Short-ter...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Short Term Capital Gains tax vs. IRA Withdrawal Tax w/o Quarterly Est. Taxes ### Answer: Bottom line is this: there's no "short term capital gains tax" in the US. There's only long term capital gains ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a trust? What are the different types of trusts? ### Answer: Trusts are a way of holding assets with a specific goal in mind. At its simplest, a trust can be used to avoid probate, a sometimes...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a trust? What are the different types of trusts? ### Answer: From a more technical point of view, a trust is a legal relationship between 3 parties: Trusts can take many forms. People setup tr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a trust? What are the different types of trusts? ### Answer: A trust is a financial arrangement to put aside money over a period of time (typically years), for a specific purpose to benefit so...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Basic index fund questions ### Answer: There are no guarantees in the stock market. The index fund can send you a prospectus which shows what their results have been over the past decade or so, or you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is the Yale/Swenson Asset Allocation Too Conservative for a 20 Something? ### Answer: You can look the Vanguard funds up on their website and view a risk factor provided by Vanguard on a scale of 1 to...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is the Yale/Swenson Asset Allocation Too Conservative for a 20 Something? ### Answer: I don't think the advice to take lots more risk when young makes so much sense. The additional returns from loadin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is the Yale/Swenson Asset Allocation Too Conservative for a 20 Something? ### Answer: That looks like a portfolio designed to protect against inflation, given the big international presence, the REIT ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is the Yale/Swenson Asset Allocation Too Conservative for a 20 Something? ### Answer: I think Swenson's insight was that the traditional recommendation of 60% stocks plus 40% bonds has two serious fla...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Clarification on 529 fund ### Answer: Yes, maybe. The 529 is pretty cool in that you can open an account for yourself, and change the beneficiary as you wish, or not. In theory, one can start a 529 f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Clarification on 529 fund ### Answer: You are faced with a dilemma. If you use a 529 plan to fund your education, the short timeline of a few years will limit your returns that are tax free. Most peop...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do you save money on clothes and shoes for your family? ### Answer: I feel the same way too! With two kids, I feel like I am spending what it would cost to run a small country just on clothes, sh...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do you save money on clothes and shoes for your family? ### Answer: I'm all for thrift stores and yard sales. When they're littler they're more into comfort, perhaps insisting on certain colors, b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do you save money on clothes and shoes for your family? ### Answer: I speak as a person without kids, but I'll give this a shot anyway, using my memory of the perspective I had when I was a kid. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do you save money on clothes and shoes for your family? ### Answer: I look ahead for sizes. I was at the thrift store and saw a good condition, good brand winter coat that will likely fit my daug...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it wise to switch investment strategy frequently? ### Answer: I understand you're trying to ask a narrow question, but you're basically asking whether you should time the market. You can find tons...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it wise to switch investment strategy frequently? ### Answer: My super fund and I would say many other funds give you one free switch of strategies per year. Some suggest you should change from hi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it wise to switch investment strategy frequently? ### Answer: A guy who does a sports talk show here in the US can be pretty smart about some things. His advice: If you are wondering if something...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Lump sum annuity distribution — do I owe estate tax? ### Answer: There can be Federal estate tax as well as State estate tax due on an estate, but it is not of direct concern to you. Estate taxes are ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Lump sum annuity distribution — do I owe estate tax? ### Answer: If you are the beneficiary of an annuity, you might receive a single-sum distribution when the annuity owner dies. The amount of this d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Lump sum annuity distribution — do I owe estate tax? ### Answer: The page you linked shows "Federal changes eliminated Florida's estate tax after December 31, 2004" but no, estates are settled by the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much house can a retired person afford ### Answer: Consider property taxes (school, municipal, county, etc.) summing to 10% of the property value. So each year, another .02N is removed. Assume t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much house can a retired person afford ### Answer: Consider a single person with a net worth of N where N is between one and ten million dollars. has no source of income other than his investment...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I overpay to end a fixed-rate mortgage early? [duplicate] ### Answer: I would strongly encourage you to either find specifically where in your written contract the handling of early/over paymen...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I overpay to end a fixed-rate mortgage early? [duplicate] ### Answer: The simplest argument for overpayment is this: Let's suppose your fixed rate mortgage has an interest rate of 4.00%. Every ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I required to have a lawyer create / oversee creation of my will? ### Answer: This is not intended as legal advice, and only covers general knowledge I have on the subject of wills as a result of h...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Using property to achieve financial independence ### Answer: I wrote this in another thread but is also applicable here. In general people make some key mistakes with property: Not factoring in deprec...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Using property to achieve financial independence ### Answer: Be very careful about buying property because it has been going up quickly in recent years. There are some fundamental factors that limit ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Using property to achieve financial independence ### Answer: Will buying a flat which generates $250 rent per month be a good decision? Whether investing in real estate is a good decision or not depen...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Incorporating real-world parameters into simulated(paper) trading ### Answer: I think you're on the wrong track. Getting more and more samples from the real world does not make your backtest more acc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Incorporating real-world parameters into simulated(paper) trading ### Answer: You said the decision will be made by EOD. If you've made the decision prior to the market close, I'd execute on the closi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is real (physical) money traded during online trading? ### Answer: With Forex trading - physical currency is not involved. You're playing with the live exchange rates, and it is not designed for purch...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is real (physical) money traded during online trading? ### Answer: When you buy a currency via FX market, really you are just exchanging one country's currency for another. So if it is permitted to ho...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is real (physical) money traded during online trading? ### Answer: I asked a followup question on the Islam site. The issue with Islam seems to be that exchanging money for other money is 'riba' (roug...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is real (physical) money traded during online trading? ### Answer: This is somewhat of a non-answer but I'm not sure you'll ever find a satisfying answer to this question, because the premises on whic...