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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Investment strategy for a 20 year old with about 30k in bank account ### Answer: If you have already maxed your TSP contributions, the "401k" for military folks, you could consider a Traditional IRA c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When to sell a stock? ### Answer: Keep a diary, before buying write down why are you buying the stock, how long do you plan to keep it. Put down reasons when you would sell it. For example you buy a s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is this trick enough to totally prevent bankrupcy in a case of a crash? ### Answer: When you buy a stock, the worst case scenario is that it drops to 0. Therefore, the most you can lose when buying a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Evidence for timing market in the short run? ### Answer: Timing the market and by extension the efficient market hypothesis is one of the most hotly debated subjects in finance academia. If you are to...
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: Investing: P/E Ratio basic question ### Answer: The idea here is to get an idea of how to value each business and thus normalize how highly prized is each dollar that a company makes. While some comp...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: 15 year mortgage vs 30 year paid off in 15 ### Answer: Actually the extra payment comes off the back end of the mortgage. So technically the mortgage is ony reduced one month. However, banks always r...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a way to open a U.S. bank account for my LLC remotely? ### Answer: Yes, it is possible. Although there may be red tape for a business account, Alliant Credit Union offers completely online s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I profit from anticipating a drop in value? ### Answer: To expand on the comment made by @NateEldredge, you're looking to take a short position. A short position essentially functions as follows:...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are COBRA premiums deductible when self-employed? ### Answer: http://www.ehow.com/about_4625753_cobra-as-selfemployed-health-insurance.html This link makes it clear... it has to be itemized, and is su...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does “cash in lieu of dividend” incur any tax consequences in an IRA? ### Answer: In a (not Roth) IRA, withdrawals are generally already taxed as regular income. So there should be no tax disadvantage...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between a stop order and a stop limit order? ### Answer: An attempt at a simple answer for the normal investor: A normal investor buys stock then later sells that stock. (This i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I set a stop loss for long term investments? ### Answer: My broker offers the following types of sell orders: I have a strategy to sell-half of my position once the accrued value has doubled. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When does a pricing error become false advertising? ### Answer: It's definitely annoying, but it's not necessarily false advertising. There is no rule or law that says they have to fix a pricing error...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it ever logical to not deposit to a matched 401(k) account? ### Answer: One situation where it would be prudent not to contribute would be if expenses are so tight that you cannot afford to contrib...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Need something more basic than a financial advisor or planner ### Answer: If you are living near a land-grant university, you might be able to find help from the university's Extension Service. In ma...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Bank statements - should I retain hardcopies for tax or other official purposes (or keep digital scanned copies)? ### Answer: Digital records are fine, but record-keeping practices are important. Be c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pay for a cheap car or take out a loan? ### Answer: Buying a car is a very big financial decision. There are three major factors to decide which car to buy: Pick two because you can't have all three....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to correctly track a covered call write (sell to open) in double-entry accounting? ### Answer: I skimmed the answer from mirage007, and it looked correct if you're going to set this up from scratc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pros and cons of investing in a cheaper vs expensive index funds that track the same index ### Answer: As has been pointed out, one isn't cheaper than the other. One may have a lower price per share t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I'm upside down on my car loan and need a different car, what can I do? ### Answer: Dealerships make a lot of money in the finance department. One of the thing they play upon is your emotional reacti...
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: This is a state by state thing, and I'm cheating because I know you are in New York State: ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Student loan payments and opportunity costs ### Answer: I bought a house when I was 22, I also had $10k in student load debt. After the down payment, I had $1,500 to my name and $82k worth of debt. Al...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can we compare peer-to-peer loans to savings accounts? ### Answer: I don't think you can compare savings accounts and peer-to-peer lending. The former is a liquid way of stashing some money away (IOW ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What percent of my salary should I save? ### Answer: I am pretty sure you could find a number of financial planners whom you could pay to give you a very accurate number, but the rule of thumb I like ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I continue to invest in an S&P 500 index fund? ### Answer: You shouldn't. The Dow has gained 7% annually on average since October 1915(inflation-adjusted). It has also lost 73% of its inflation...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why UK bank charges are not taken account when looking on interest for taxation? ### Answer: Because your profit from the capital IS 100 quid. Capital gains is not like running a business and doesn't ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Understanding a Trailing Limit if Touched Order ### Answer: This is rather simple if you understand a trailing limit order but to be sure I am going to explain a limit, trailing limit, and trailing LI...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a good way to save money on car expenses? ### Answer: Do your own oil change! If you are a hands-on person, you could also avoid the cost of the semi-annual oil change, by doing it yourself. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Investing tax (savings) ### Answer: If you have a mortgage, making part of it a mortgage-backed overdraft (ANZ call theirs a Flexi loan) is worth looking at. I'm in a similar situation, consulting sin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is owning ADR share for a good idea for long term investor ### Answer: Usually the ADR fee comes out of dividend payments and is modest. The ADR that I am most familiar with (Vodafone - VOD) pays divi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Clarification on student expenses - To file the tax for the next year ### Answer: Assuming here that you're talking about deducting your tuition as a below the line deduction as a business expense or ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where does the money go when I buy stocks? ### Answer: The money goes to the seller. There are a lot of behind the scenes things that happen, and some transactions are very complicated with many part...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the median retirement savings in the United States today? ### Answer: Social security and pensions make up a big part of it. You may want to look at the source of the data. If a person, has ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What percent of a company are you buying when you purchase stock? ### Answer: What percent of a company are you buying when you purchase stock? The percent of a company represented by a single share c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Getting financial advice: Accountant vs. Investment Adviser vs. Internet/self-taught? ### Answer: An accountant should be able to advise on the tax consequences of different classes of investments/ass...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to use proceeds of old house sale shortly after buying new house? ### Answer: I've heard that the bank may agree to a "one time adjustment" to lower the payments on Mortgage #2 because of paying a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why invest in becoming a landlord? ### Answer: why does it make sense financially to buy property and become a landlord? Because then your investment generates cash instead of just sitting idle. All t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I claim HST compensation on my personal Ontario income taxes? ### Answer: Your income and expenses for the business should be independent of HST. That is, if you charged somebody 100 + 13 HST, ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does historical data get adjusted for dividends, exactly? ### Answer: I had both closing price and adjusted price of Apple showing the same amount after "download data" csv file was opened in exc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would parents, of a young adult without dependents, not profit from the young adult's Term Life Insurance? ### Answer: It is not likely the YA would die in 10 years. Hence the investment the paren...
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: College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan ### Answer: I was in that same situation years ago with my parents. One way she could a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I not have a credit score? ### Answer: Generally, if you have a loan, you have a credit score. But since you have never had a loan before, then it is likely that you do not have a credit score. You...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can warrants to buy stock contain conditions or stipulations other than price? ### Answer: All sorts of conditions, yes. Most commonly is a limitation on the exercise date. The two more common would ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can self-employed individuals deduct their mileage spent commuting to events? ### Answer: I looked at Publication 463 (2014), Travel, Entertainment, Gift, and Car Expenses for examples. I thought thi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If banksimple.com is not a bank, what is it? ### Answer: I don't see how this concept takes off. First and foremost, BankSimple is NOT a bank but a tech company masquerading as one. BankSimple leaves ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Investing in commodities, pros and cons? ### Answer: The main advantage of commodities to a largely stock and bond portfolio is diversification and the main disadvantages are investment complexity and...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Diversify across multiple brokers? ### Answer: You should ensure that your broker is a member of the Securities Investor Protection Corporation (SIPC). SIPC protects the cash and securities in your br...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Faster degree with debt or slower degree with no debt? ### Answer: Basically do some math on the 2 schools. Let's say you know it will take 4 years if you go the cheaper route, at $8k/yr, plus the $30...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What to do if my aging father is sustaining a hobby that is losing several thousand dollars every month? ### Answer: You've already counted the cost. It will cost your family ~$10,000 per month until ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Having a separate bank account for business/investing, but not a “business account?” ### Answer: When I was younger I had a problem with Washington Mutual. Someone had deposited a check in to my acco...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does the profit of a company directly affect its stock or indirectly by causing people to buy or sell? ### Answer: The short answer to your question is yes. Company performance affects stock price on...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I get a auto loan to diversify my credit lines if I have the cash to pay upfront ### Answer: You should not seek a kind of debt just for it's appearance on your credit report. If you don't nee...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do people use mortgages, when they could just pay for the house in full? ### Answer: Besides all of the other answers, I will point out that many people simply don't have enough cash sitting aroun...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why was my Credit Limit Increase Denied? ### Answer: The bottom line is that you are kind of a terrible customer for them. Granted you are far better than one that does not pay his bills, but you ar...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Short selling - lender's motivation ### Answer: Oftentimes, the lender (the owner of the security) is not explicitly involved in the lending transaction. Let's say the broker is holding a long-term po...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are American-style options worth more than European-style options? ### Answer: If you're into math, do this thought experiment: Consider the outcome X of a random walk process (a stock doesn't beh...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I adjust to a new social class? ### Answer: I live in one of the highest cost of living areas in my country. For the cost of less than half the down payment my spouse and I have saved up for a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where should I park my rainy-day / emergency fund? ### Answer: I would suggest your local credit union or local bank for security and liquidity. Liquidity is probably the most important issue for a e...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do credit cards have minimum limits? ### Answer: It discourages people from obtaining a high-limit card simply to show off, because the bank's forcing them to use it or lose it. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Investing in hemp producers in advance of possible legalization in Canada? ### Answer: The legalization of Cannabis will drastically alter supply and demand of cannabis and hemp. The distribution chan...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a high down-payment on a house offset the need for proof of income? ### Answer: It's difficult to provide an exact answer as this will very much depend on the bank & the local regulatory scheme. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does dividend on 401K have any effect on gains ### Answer: It appears from your description that the 401k account has the automatic dividend reinvestment policy, and that the end result is exactly the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Economics of buy-to-let (investment) flats ### Answer: but the flat would be occupied all the time. Famous last words. Are you prepared to have a tenant move in, and stop paying rent? In the US, it ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Switch from DINK to SIWK: How do people afford kids? ### Answer: Others have tip-toed around this, but I'll just come out and say it. The amount of money you're giving to the church is bordering on i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Calculating savings from mortgage interest deduction vs. standard deduction? ### Answer: Those choices aren't mutually exclusive. Yes, most discussion of the mortgage interest deduction ignores the f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the pros and cons of buying a house just to rent it out? ### Answer: There are actually a few questions you are asking here. I will try and address each individually. Down Payment What you pu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a mutual fund did really well last year, then statistically speaking, is it likely going to do bad this year? ### Answer: This can be answered by looking at the fine print for any prospectus for an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to approach building credit without a credit card ### Answer: Apply for a secured credit card (several financial institutions provide these, including most banks. WalletHub gives you a way to sear...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I fund retirement with a static asset allocation or an age based glide path? ### Answer: The thing about the glide path is that the closer you're to the retirement age, the less risk you should...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there an investment account where I can owe taxes only if the net of capital gain and dividend payment is positive? ### Answer: No such account exists as capital gains aren't realized until holding...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is 'consolidating' debt and why do people do it? ### Answer: With the scenario that you laid out (ie. 5% and 10% loans), it makes no sense at all. The problem is, when you're in trouble the rates...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Trying to figure out my student loans ### Answer: The 5% to 6.5% loan rates are a bit high. You'll probably want to pay those off first, and make it one of your priorities as soon as you have a 6-mont...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can a credit card company make any money off me? I have a no-fee card and pay my balance on time ### Answer: Maybe they don't make much, but they make some for sure. In addition to what duffbeer7...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a 401(k) Loan Provision? ### Answer: 401K accounts, both regular and Roth, generally have loans available. There are maximum amounts that are based on federal limits, and your balance in the p...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: No you do not need a credit card. They are convenient to have sometimes. But you do not "need" one. I know people who only have one for use when they travel...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I have a 2008 HHR under finance it needs a new engine ### Answer: I'm leaning more towards trading it in can anyone give me some pointers on how to get the best deal? Information is key to getting the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to compute for losses in an upside down trade-in of a financed car? ### Answer: I'm going to ignore your numbers to avoid spending the time to understand them. I'm just going to go over the basic...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to spend more? (AKA, how to avoid being a miser) ### Answer: Time is money. If those hours spent researching to save $3 made you a better profit than you would have otherwise had buying the more e...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: PayPal wants me to “add a bank account”, another funding source. Credit card isn't working. Why? ### Answer: I would guess that this is due to the card issuer, not Paypal. Credit card transactions are...
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: How to help a financially self destructive person? ### Answer: I am no expert by any means in divorce situations, but it seems like you probably have more than enough evidence (if you can back up ever...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Negatives to increased credit card spending limit? [duplicate] ### Answer: The only drawback is if you spend more than you can with the new limit and end up having to pay interest if you can't pay the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Shared groceries expenses between roommates to be divided as per specific consumption ratio and attendance ### Answer: For a personal finance forum, this is too complicated for sustained use and you s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Best personal finance strategy to control my balance ### Answer: I started storing and summing all my receipts, bills, etc. It has the advantage of letting me separate expenses by category, but it's m...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I figure out how a stock's price would change after I buy shares? ### Answer: Stock price is based on supply and demand. Unless the stock you are looking to buy usually has very low volume tra...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I use a different HSA than PayFlex that came with aetna? ### Answer: Much of this is incorrect. Aetna owns Payflex for starters, and it's your EMPLOYER who decides which banks and brokers to offer...
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: How should I report earning from Apple App Store (from iTunes Connect) in Washington state? ### Answer: If you're waiting for Apple to send you a 1099 for the 2008 tax season, well, you shouldn't be. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I be aware of when renting a home to a corporation instead of an individual? ### Answer: This is business as usual, except that you need to keep in mind that the corporate entity is separa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does an option lose time value faster as it approaches expiry ### Answer: This is because volatility is cumulative and with less time there is less cumulative volatility. The time value and option...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can unclear or deceptive company news and updates affect the stock price in the opposite direction of where the company is actually headed? ### Answer: Yes, but only in a relatively short term. False ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does financing a portfolio on margin affect the variance of a portfolio? ### Answer: Yes, more leverage increases the variance of your individual portfolio (variance of your personal net worth). The s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I find out what category a merchant falls into for my credit card's cashback program? [duplicate] ### Answer: Not clear what you're asking. Are you trying to figure out their SIC/NAISC classi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Capital gains on no-dividend stocks - a theoretical question ### Answer: A stock, at its most basic, is worth exactly what someone else will pay to buy it right now (or in the near future), just like ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Blog income taxes? ### Answer: If thinking about it like a business you normally only pay taxes on Net income, not gross. So Gross being all the money that comes in. People giving you cash, checks, w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Hearing much about Dave Ramsey. Which of his works is best in describing his “philosophy” about money? ### Answer: Actually, Trent Hamm of The Simple Dollar, wrote a "book club" series that basically ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Car financed at 24.90% — what can I do? ### Answer: Anytime you borrow money at that rate, you are getting ripped off. One way to rectify this situation is to pay the car off as soon as possible. Y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there an advantage to a traditional but non-deductable IRA over a taxable account? [duplicate] ### Answer: The most common use of non-deductible Traditional IRA contributions these days, as JoeTaxp...