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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why diversify stocks/investments? ### Answer: Basically, diversifying narrows the spread of possible results, raising the center of the returns bell-curve by reducing the likelihood of extreme result...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any instance where less leverage will get you a better return on a rental property? ### Answer: Leverage means you can make more investments with the same amount of money. In the case of ren...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do some people say a house “not an investment”? ### Answer: The below assessment is for primary residences as opposed to income properties. The truth is that with the exception of a housing bubble...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Merits of buying apartment houses and renting them ### Answer: Insurance - get estimate from an insurance agent who works with policies for commercial real estate. See comments below regarding incorp...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Foreign currency losing value — can I report this as a loss for tax purposes? ### Answer: This loss would be unrealized and, assuming you're a cash-basis tax-payer, you would not be able to take a los...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the options for a 19-year-old college student who only has about $1000? ### Answer: If you're looking for ways to turn $1000 into more, don't just think of ways it can make money -- also cons...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the process to buy an old house to tear it down and create a new one? ### Answer: By process, I assume you mean the financial process. Financially, this doesn't look any different to me than bu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Error in my car loan papers, what do I do? ### Answer: The absolute first thing you need to do is contact the bank. Also, do you have a copy of the loan papers you signed? You should look over those a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What exactly can a financial advisor do for me, and is it worth the money? ### Answer: A financial planner can help with investments, insurance, estate planning, budgeting, retirement planning, saving...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Under specific conditions can I write off Spotify or other streaming audio services? ### Answer: Nice try. No. If you were in the music industry, you might have a case. Depending on the exact job, cer...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can PayPal transfer money automatically from my bank account if I link it in PayPal? ### Answer: I have a PayPal account that I have linked to my bank account. My PayPal balance is always $0. When I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which USA Brokerage Firms can I transfer my India stocks to? ### Answer: You might what to check out Interactive Brokers. If your India stock is NSE listed they might be able to do it since they suppo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A merchant requests that checks be made out to “Cash”. Should I be suspicious? ### Answer: To put a positive spin on the whole thing, maybe it's a small family shop, and having the check made out to "...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I stockpile nickels? ### Answer: Stockpile? No. Keep a few around? Sure, if you are a collector. I used to collect pennies and I thought the steel pennies from WWII were neat. I do believe ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Invest in (say, index funds) vs spending all money on home? ### Answer: Here in the UK, the rule of thumb is to keep a lot of equity in your home if you can. I assume here that you have a lot of savin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Data source for historical intra-day bid/ask price data for stocks? ### Answer: Check the answers to this Stackoverflow question https://stackoverflow.com/questions/754593/source-of-historical-stock-d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Currently a Microsoft Money user on PC, need a replacement suitable for Mac ### Answer: Long time Quicken user, but I have Bootcamp on my Mac, and one reason is so I can run Quicken Windows. That's on...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: My previous and current employers both use Fidelity for 401(k). Does it make sense to rollover? ### Answer: I would always suggest rolling over 401(k) plans to traditional IRAs when possible. Particu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does the U.S. wash sale replacement stock rule work? ### Answer: Edited: Pub 550 says 30 days before or after so the example is ok - but still a gain by average share basis. On sale your basis is...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: car loan but 2 people on title ### Answer: Yes, but then either of you will need the other's permission to sell the car. I strongly recommend you get an agreement on that point, in writing, and possib...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Evidence for/against negative correlation between commodity futures, stocks ### Answer: The correlation I heard most about in economics/finance was that stock prices and bond yields were negatively co...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Saving tax for long term stock investment capital gain by quiting my current job? ### Answer: The capital gains is counted towards your income. If you cash out 1 Million dollars, you have a 1 Million ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I gave an incorrect account number to pay my income taxes ### Answer: They will not send a bill, though there's a chance they will eventually send an accusatory letter. You must proactively pay your ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: S Corp with Straddles Income ### Answer: If this activity were to generate let's say 100K of profit, and the other corporate activities also generate 100K of revenue, are there any issues tax-wise...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do stock option prices predicate the underlying stock's movement? ### Answer: Options reflect expectations about the underlying asset, and options are commonly priced using the Black-Scholes model: N...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If I have no exemptions or deductions, just a simple paycheck, do I HAVE to file taxes? ### Answer: While you are required to do so as others have said, it's actually in your interest to do so. In a r...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Stock market order execution ### Answer: I used to work on the software in the front office (and a bit of the middle office) of a brokerage firm. This page describes the process pretty well. Basically...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What options do I have at 26 years old, with 1.2 million USD? ### Answer: When I was in a similar situation (due to my stocks going up), I quit my job and decided that if I live somewhat frugally, I w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is selling put options an advisable strategy for a retiree to generate stable income? ### Answer: Selling options is a great idea, but tweak it a bit and sell credit spreads on both sides of the marke...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I calculate the dwelling coverage I need from the information I have? ### Answer: This is where an insurance agent is very useful. They will help you choose appropriate coverage, based on local...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does capital gains tax apply to long term stock holdings? ### Answer: Most well-off people have investments which they have held for long periods of time, often of very substantial value such as a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How is income tax calculated in relation to selling used items? ### Answer: Yes. This income would be reported on schedule SE. Normally, you will not owe any tax if the amount is less than $400. Prac...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Whole life insurance - capped earnings ### Answer: Pretty simple: When is Cash Value Life Insurance a good or bad idea? It is never a good idea. How can life insurance possibly work as investment? It ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What do these numbers mean for the S&P? ### Answer: USB is the ticker for US Bancorp. The numbers to me look like their prediction of the return for the day, I could be wrong but I think that's what i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do freight derivatives like Forward Freight Agreements (FFAs) work? ### Answer: The product descriptions for FFA swaps and options can be found here: http://www.lchclearnet.com/freight/ffas/produ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: 401k compound interest vs other compound interest ### Answer: A 401K (pre-tax or Roth) account or an IRA (Deductible or Roth) account is a retirement account. Which means you delay paying taxes now on...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can you explain why these items are considered negatives on my credit report? ### Answer: 1. Your oldest active credit agreement is not very old This is fairly straight forward. If you've not been exp...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Looking to buy a property that's 12-14x my income. How can it be done? ### Answer: It is your choice to have "insignificant income", and that has consequences. One is that you cannot borrow money to ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What tax law loophole is Buffet referring to? ### Answer: A Section 1256 contract is any: Non-equity options include debt options, commodity futures options, currency options, and broad-based stock in...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what age should I start or stop saving money? ### Answer: Are you working? Does your employer offer a 401(k) and if so, is there any match? Saving should be taught to kids at the same time they ar...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would a bank need to accept deposits from private clients if it can just borrow from the Federal Reserve? ### Answer: borrow money from the Central Bank Wrong premise. They cannot borrow as much a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is working on a W2 basis, with benefits paid to me, a good idea? ### Answer: It's hard to answer without knowing all of the details (i.e. what was your salary for each of the options), but I think you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Loan holder wants a check from the insurance company that I already cashed and used to repair my car ### Answer: What would happen if you was to cash a check, didn’t realize it was to you and your f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why index funds have different prices? ### Answer: To add on to the other answers, in asking why funds have different price points one might be asking why stocks aren't normalized so a unit price of $...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does gold have value? ### Answer: Why does the value of gold go up when gold itself doesn't produce anything? Why do people invest in gold? Your perception, that the value of gold goes up in the l...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Ghana scam and direct deposit scam? ### Answer: Of course, it is a scam. Regardless of how the scam might work, you already know that the person on the other end is lying, and you also know that peop...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who performs the blocking on a Visa card? ### Answer: The request to block the money is made by the Party who sells the product. Based on this request the Bank blocks the funds. Subsequently the Party...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to finance necessary repairs to our home in order to sell it? ### Answer: A typical HELOC will have about $300 in fees to open it. From there, it's up to you how much or how long to use it. I'd s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does the share price tend to fall if a company's profits decrease, yet remain positive? ### Answer: The company's value (which should be reflected in the share price) is not how much money it has ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is keeping track of your money and having a budget the same thing? ### Answer: A budget is a plan for spending money in the future. Tracking spending is only looking at what happened in the past. Man...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Mortgage implications if I were to quit my job shortly after being approved? ### Answer: You mention that you would quit right after getting approved. But in the United States there would be one last ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Looking into investment bonds for the first time- what do I need to be aware of? ### Answer: First off, I do not recommend buying individual bonds yourself. Instead buy a bond fund (ETF or mutual fund...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Resources on Buying Rental Properties ### Answer: I would also suggest finding the training resource within your state for real estate agent license exam prep... When I was getting started, I took th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Separate bank account for security deposit from tenant ### Answer: In Massachusetts, we have a similar law. Each tenant fills out a W9 and the account is in their name. You need to find a bank willing...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: One of my stocks dropped 40% in 2 days, how should I mentally approach this? ### Answer: Don't throw good money after bad. If you bought on the peak of an event like news/earnings hoping for more and ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are tax deductions voluntary? ### Answer: What kind of "deductions" are you talking about? Many deductions, like the standard/itemized deductions, come after the AGI, and do not affect the AGI, so I d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the regulation of “swaps” important to failing systemically significant institutions? ### Answer: Have you ever considered how much faith and confidence play a role in the financial sector? Th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Calculating pay off for credit card with multiple APRs ### Answer: The first thing you need to do is look at your terms and conditions of your credit card, or ask your bank, how they will apply the pa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When will Canada convert to the U.S. Dollar as an official currency? ### Answer: I would say at about the same time as the US converts to having a public health system that covers everyone with very f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What does “interest rates”, without any further context, generically refer to? ### Answer: The generic representative of interest rates is the 10 year treasury bond rate. (USA). As an approximation mo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the minimum age for early retirement ### Answer: You can withdraw from CPP as early as 60. However, by doing so, you will permanently reduce the payments. The reduction is calculated based on ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Variable Annuity inside a Roth IRA? What is this and how can I switch it to something else? ### Answer: This answer is provided mostly to answer your question "what is it?" A variable annuity is a con...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Looking for a good source for Financial Statements ### Answer: All websites pull Statement data line by line from central databases. They get to choose which line items to pull, and sometimes they ge...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I invest or repay my debts? ### Answer: You didn't mention how much is the interest rate of your debts. It is a very simple rule. If you think you can make more money by investing (the best wa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I borrow money for investing? ### Answer: Borrow money and start a business. Follow your business plan and invest in yourself and your entrepreneurship. If you mean invest in the market, do...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is the return on investment better with high or low dividends? ### Answer: Someone (I forget who) did a study on classifying total return by the dividend profiles. In descending order by category, the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to process IRS check as a non-resident? ### Answer: I suspect @SpehroPefhany is correct and that your bank will cash a check from the US Department of the Treasury. Especially since they're the s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to tell if you can trust a loan company? ### Answer: Look for people who have done business with them. If you don't know anyone who has used their services, look for a company that at least has a ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why don't SPY, SPX, and the e-mini s&p 500 track perfectly with each other? ### Answer: I thought the other answers had some good aspect but also some things that might not be completely correct, so I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does a TFSA work? Where does the interest come from? ### Answer: A TFSA is a tax free savings account. It is a type of account where you can buy various investments like stocks, bonds, or funds (...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it a good idea to get an unsecured loan to pay off a credit card that won't lower a high rate? ### Answer: Go where your money is treated best. If you can lower your APR, great. It should help a l...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does investment into a private company work? ### Answer: Each company has X shares valued at $Y/share. When deals like "Dragon's Den" in Canada and Britain or "Shark Tank" in the US are done, this...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Landlord living in rental unit - tax implications? ### Answer: A tenant is a tenant regardless of your relationship to them, and as long as the property is classified as an investment property, you ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What option-related strategies are better suited to increasing return potential? ### Answer: It definitely depends on your risk appetite as Joe Taxpayer pointed out in his answer. Covered calls are a ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I make extra payments to my under water mortgage or increase my savings? ### Answer: You say you are underwater by $10k-15k. Does that include the 6% comission that selling will cost you? If ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Calculating required rate of return for an income-generating savings account ### Answer: Line one shows your 1M, a return with a given rate, and year end withdrawal starting at 25,000. So Line 2 star...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Investment time horizon: When is it acceptable to withdraw money from investments? ### Answer: shouldn't withdraw stock investments for at least 5 years would be better re-phrased as: "don't invest mo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Adjusting a value for inflation each month using rolling 12-monthly inflation figures ### Answer: The actual increase in the cost of living for one month over the previous month cannot be calculated f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is meant by a market that is technically strong ### Answer: A technically strong stock or market is simply a stock or market which is up-trending and has been up-trending for a while. Just as a f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Opening a bank account with cash: How should bills be presented? ### Answer: I currently have the twenties in 6 rolls of 5 I don't know what "roll" means to you (perhaps it's another word for grouping...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Apartment lease renewal - is this rate increase normal? ### Answer: If it is true that for the same price, you could get a better place (or that for a lower price you could get an equivalent place), y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Ghana scam and direct deposit scam? ### Answer: It used to be Nigerian royalty, now it's Ghanaian porn stars. Great. This is a bog-standard 419 scam. It's probably the most lucrative single swindle...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why invest for the long-term rather than buy and sell for quick, big gains? ### Answer: The stock market's principal justification is matching investors with investment opportunities. That's only rea...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do real nappies (reusable / cloth diapers) really save money? ### Answer: I don't think they do. And here's why. If you don't want your child to get skin irritation, you need to watch closely and chan...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: 30% share in business ### Answer: Keep in mind a good lawyer will have the contract cover the five D's: Its really best to lay these things out ahead of time. I watched, first hand, two friends start...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the equivalent of the QQQ in the UK for the FTSE 100? ### Answer: I'm not familiar with QQQ, but I'm guessing this is something like IShares Ftse 100 (see description here) ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I do with the stock from my Employee Stock Purchase Plan? ### Answer: Split the difference. Max it out, sell half immediately and wait a year or more for the rest. Or keep a third... whate...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should you diversify your bond investments across many foreign countries? ### Answer: Adding international bonds to an individual investor's portfolio is a controversial subject. On top of the standa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How should I think about stock dividends? ### Answer: Different stocks balance dividend versus growth differently. Some have relatively flat value but pay a strong dividend -- utility stocks used to b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What kind news or information would make the price of a stock go up? ### Answer: You should not trade based on what news is just released, if you try you will be too slow to react most of the time. In...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does the bid price of a stock change depending on which brokerage I am using? ### Answer: They could have different quotes as there are more than a few pieces here. Are you talking a Real Time Level ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How May Cash be Spent Approaching Bankruptcy? ### Answer: Bankruptcy law is complex. You need a lawyer who can advise you both on the statute and relevant case law for the district where you file. You...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where to borrow money between college graduation and employment? ### Answer: You have a few options, none of which are trade off free: Apply for a credit card, and live off of that. Here, of course,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Currently sole owner of a property. My girlfriend is looking to move in with me and is offering to pay 'rent'. Am I at risk here? ### Answer: With regard to worries about ownership: I'll point you to...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do 'payday money' stores fund their 'buy now, pay later' loans? ### Answer: Payday loan companies basically are banks (although they are incredibly terrible ones). Banks make money in two ways: (...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can you correlate a company stock's performance with overall market performance? ### Answer: How can you correlate a company stock's performance with overall market performance. No you can't. Ther...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is RSU tax basis based on remaining shares after shares are witheld? ### Answer: Here is how it should look: 100 shares of restricted stock (RSU) vest. 25 shares sold to pay for taxes. W2 (and pro...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: taxes, ordinary income, and adjusted cost basis for RSUs ### Answer: What happened is that they do not track (and report) your original cost basis for 1099-B purposes. That is because it is an RSU. In...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How should minor children be listed as IRA beneficiaries? ### Answer: First - for anyone else reading - An IRA that has no beneficiary listed on the account itself passes through the will, and this el...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I get a wholesaler ID number? ### Answer: Seems like it's more dependent on who you want to be your supplier. The times I've been involved in requesting this, each company had its own applica...