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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are institutional investors? ### Answer: Professional investors managing large investment portfolios for "institutions" -- a college, a museum, a charitable organization, et cetera. I'm not sure ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are institutional investors? ### Answer: FINRA defines institutional investors as: Institutional investors include banks, savings and loan associations, insurance companies, registered investme...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Typically how many digits are in a cheque number? ### Answer: Checks are normally numbered sequentially, to keep them unique for record-keeping purposes. The check number takes as many digits as it t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I detect potential fraud in a company before investing in them? ### Answer: Given that such activities are criminal and the people committing them have to hide them from the law, it's very unl...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I detect potential fraud in a company before investing in them? ### Answer: Most of the information we get about how a company is running its business, in any market, comes from the company. I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I detect potential fraud in a company before investing in them? ### Answer: Even without fraud, a company can get into serious trouble overnight, often through no fault of their own. That's pa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are non-residents or foreigners permitted to buy or own shares of UK companies? ### Answer: Yes it is legal, in fact according to statistics.gov.uk, foreign investors are the largest holders of UK sha...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are non-residents or foreigners permitted to buy or own shares of UK companies? ### Answer: It's easy to own many of the larger UK stocks. Companies like British Petroleum, Glaxo, and Royal Dutch Shel...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are non-residents or foreigners permitted to buy or own shares of UK companies? ### Answer: Yes, However if you live in the USA a lot of companies will refuse to sent you any report and will not let y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the fundamental levels that makes a Stock Ideal? (either to sell or buy) ### Answer: for buying: High PE, low debt, discount = win. a company with high debt (in relation to revenues and cash ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the fundamental levels that makes a Stock Ideal? (either to sell or buy) ### Answer: I look at the following ratios and how these ratios developed over time, for instance how did valuation co...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the added advantage of a broker being a member of NFA in addition to IIROC ### Answer: This shows that in each market (US and Canada) the company is registered with the appropriate regulatory ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I “cheating the system” by opening up a tiny account with a credit union and then immediately applying for a huge loan? ### Answer: Nope. Credit Unions are for the customers. Since the customers ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I “cheating the system” by opening up a tiny account with a credit union and then immediately applying for a huge loan? ### Answer: Credit unions require you to open an account because of their his...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I “cheating the system” by opening up a tiny account with a credit union and then immediately applying for a huge loan? ### Answer: Credit Unions turn a profit by lending money at a higher interest...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: tax deduction for 30k loan ### Answer: The loan itself is not tax deductible; unless you took it as part of a mortgage, anyway, it's just a regular loan. Mortgage and Student Loan Interest deductions...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much life insurance do I need? ### Answer: If I remember the information in "The Wealthy Barber" correctly, he said: And as someone once said to me, "make sure you're worth more alive than dead!"...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much life insurance do I need? ### Answer: After some thought, I follow Dave Ramsey's advice because it's simple and I can do the math in my head - no online calculator needed. :) You need Life I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much life insurance do I need? ### Answer: Life Insurance can be a difficult decision. We have to first assess the "want" for it vs. the "need" for it, and that differs from person to person. A...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much life insurance do I need? ### Answer: One simple calculation to determine your life insurance need: D.I.M.E. method D: Debt All your car loan balances, credit card balances, student loans, b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a catch to offers of $100 when opening up a new checking account? ### Answer: There's no catch. Banks need to acquire customers just like any other business. One common way to acquire new cus...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a catch to offers of $100 when opening up a new checking account? ### Answer: To add in a brief expansion to Portman's complete answer. The payment can also be thought of as compensation for...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it possible for US retail forex traders to trade exotic currencies? ### Answer: The vast majority of retail Forex brokers are market makers, rather than ECNs. With that said, the one that fits your...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it possible for US retail forex traders to trade exotic currencies? ### Answer: You are in a difficult situation because of US regulation, that is much more demanding to fulfill than in EU or rest ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are online payment options with no chargeback protection? ### Answer: Generally there's no ultimate protection against charge backs. Some methods are easier to charge back and some harder, and th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Shorting: What if you can't find lenders? ### Answer: If you can't find anyone to lend you the shares, then you can't short. You can attempt to raise the interest rate at which you will borrow at, in ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Shorting: What if you can't find lenders? ### Answer: Your question has 6 questions marks along with comments on what you'd like to know. Yes, there are stocks that are tough to short, a combination ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Shorting: What if you can't find lenders? ### Answer: You at least have some understanding of the pitfalls of shorting. You might not be able to borrow stock. You might not be able to buy it back when...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I get an accountant for my taxes? ### Answer: A reason to get an accountant is to avoid penalties for possible mistakes. That is, if you make a mistake, the IRS can impose penalties on you for ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I get an accountant for my taxes? ### Answer: I don't know if I would go so far as to hire an accountant. None of those things you listed really complicates your taxes all that much. If you wer...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I get an accountant for my taxes? ### Answer: Let me offer an anecdote to this - I started helping a woman, widowed, retired, who had been paying $500/yr to get her taxes done. As I mentioned ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the difference between TaxAct and TurboTax? ### Answer: I prefer TaxAct. I find it simpler to use and more helpful in helping answer the questionnaire. I have a fairly complex tax return and it...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the difference between TaxAct and TurboTax? ### Answer: I typed my information into both last year, and while they were not exactly the same, they were within $10 of each other. For my simple 2...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the difference between TaxAct and TurboTax? ### Answer: I have used TurboTax for years with no problems. I clicked on the TaxAct link in an ad and decided to see if there was much different. Us...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the difference between TaxAct and TurboTax? ### Answer: Like most software it's about what you put in to them. We use ProSeries software which is like TurboTax but $4500 with no questions. I ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need to pay tax on the amount of savings I have in the bank? ### Answer: In India, assuming that you have already paid relevant [Income/Capital gains] tax and then deposited the funds into your B...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need to pay tax on the amount of savings I have in the bank? ### Answer: Not for the amount in the accounts but for the interest you earn per year is taxable. But the sum of your all taxable inco...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When are stock trade fees deducted? ### Answer: Typically the fees are charged when the order is executed. The only catch I have ever ran into is when an order is partially executed. A good-till-canc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When are stock trade fees deducted? ### Answer: As others have said, it depends on the brokerage firm. My broker is Scottrade. With Scottrade the commission is assessed and applied the moment the ord...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where to categorize crypto-currencies ### Answer: Forex. I will employ my skill for "suspension of disbelief" and answer with no visceral reaction to Bitcoin itself. The Euro is not an 'investment.' I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it really to take out a loan right now? ### Answer: but I can't help but feel that these low rates are somehow a gimmick to trick people into taking out loans Let me help you: it's not ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it really to take out a loan right now? ### Answer: Yes, it's a buyer's market. If one is looking to buy a house, comparing the cost to rent vs own is a start. Buying a property to rent t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it really to take out a loan right now? ### Answer: The logic "the interest rate on the mortgage was so low it didn't make sense not to buy" is one reason the housing bubble happened. The...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it really to take out a loan right now? ### Answer: I think it's smart. It's the same game, just stiffer regulations, so your lender will ask more from you. Buy if you... If someone has b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it really to take out a loan right now? ### Answer: Are things getting better yet or are things still a mess? I have heard people say that right now is a 'good' time to take out a loan,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it really to take out a loan right now? ### Answer: You are not "the economy". The economy is just the aggregate of what is going on with everyone else. You should make the decision based...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it really to take out a loan right now? ### Answer: so this is a loan for a house? a loan on a house? a new mortgage? you shouldn't just get a loan for the hell of it any time. interests ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In a house with shared ownership, if one person moves out and the other assumes mortgage, how do we determine who owns what share in the end? ### Answer: This is something you should decide as part of...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In a house with shared ownership, if one person moves out and the other assumes mortgage, how do we determine who owns what share in the end? ### Answer: I second (or fifth?) the answers of the other ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In a house with shared ownership, if one person moves out and the other assumes mortgage, how do we determine who owns what share in the end? ### Answer: The ownership of the house depends on what the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In a house with shared ownership, if one person moves out and the other assumes mortgage, how do we determine who owns what share in the end? ### Answer: The answer is "it depends". What does it depe...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In a house with shared ownership, if one person moves out and the other assumes mortgage, how do we determine who owns what share in the end? ### Answer: Both names are on the deed, so the property is...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In a house with shared ownership, if one person moves out and the other assumes mortgage, how do we determine who owns what share in the end? ### Answer: Let's look at the logical extreme. Two people ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In a house with shared ownership, if one person moves out and the other assumes mortgage, how do we determine who owns what share in the end? ### Answer: This is typically an issue for local law and r...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In a house with shared ownership, if one person moves out and the other assumes mortgage, how do we determine who owns what share in the end? ### Answer: Market value and assessments are two different...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do financial institutions charge so much to convert currency? ### Answer: Mainly because they can. Yes, there is a cost for banks to execute such transactions, and yes, there is a cost to cover t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do financial institutions charge so much to convert currency? ### Answer: All institutions, financial or otherwise, seek to maximize profits. In a free market, each bank would price its services t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do financial institutions charge so much to convert currency? ### Answer: Why do these fees exist? From a Banks point of view, they are operating in Currency A; Currency B is a commodity [similar ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do financial institutions charge so much to convert currency? ### Answer: In my experience working at a currency exchange money service business in the US: Flat fees are the "because we can" fee o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do financial institutions charge so much to convert currency? ### Answer: Banks do of course incur costs on currency transactions. But they're not as high as the fee charged to the customer. Most ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do financial institutions charge so much to convert currency? ### Answer: Is there not some central service that tracks current currency rates that banks can use to get currency data? Sure. But t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do financial institutions charge so much to convert currency? ### Answer: Perhaps it's the terminology "fee" that makes it a little confusing. I'm not sure whether it's due legislation or if it's ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do financial institutions charge so much to convert currency? ### Answer: Echoing that bank fees are mostly "because they can", although partly this is because simply holding onto the money doesn'...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do financial institutions charge so much to convert currency? ### Answer: As mentioned in several other answers, the main reason for high rates is to maximize profit. However, here is another, sma...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is meant by “unexpected expenses” in my 401k plan? ### Answer: IANAL, but it sounds like indemnification language. They are saying they have the option to charge expenses to participants if they ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Stopping Payment on a Check--How Long Does it Take? ### Answer: Is this a USA bank to a USA bank transaction? If so, it will clear in one to two business days. Once cleared, the landlord cannot stop...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Earning salary from USA remotely from New Zealand? ### Answer: Can the companies from USA give job to me (I am from New Zealand)? Job as being employee - may be tricky. This depends on the labor laws ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Earning salary from USA remotely from New Zealand? ### Answer: Yes. You must register for GST as well, if you will be making over the threshold (currently $60,000). That's probably a bonus for you, as...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Live in Oregon and work in Washington: Do I need to file Oregon state taxes? ### Answer: Yes. Here's the answer to this question from oregon.gov: 3. I am moving into Oregon. What income will be taxed ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Live in Oregon and work in Washington: Do I need to file Oregon state taxes? ### Answer: Unfortunately, you are required, but most states do have agreements with neighboring states that let the states...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: If you can borrow for an asset that gives you income that's more than the cost of carrying the debt, then go for it. But the kinds of debts you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: Debt increases your exposure to risk. What happens if you lose your job, or a major expense comes up and you have to make a hard decision abou...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: The responses here are excellent. I'd add just a couple points. Debt is not generic. It ranges from low (my HELOC is 2.5%) to insane (24% credi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: You might miss an opportunity or three by strictly avoiding debt, but I can't think of a problem you will create by being debt free. So maybe i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: Keep in mind that you NEED to have a cash reserve. Blindly applying all stray cash to debt reduction is a bad idea. Your lenders do not care ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: No matter what, it is never a bad decision to go 100% debt free. However, you can make debt work in your favor in some cases (investments, edu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: I think about debt as a good option for capital investments that offer a return. In my opinion, a house and clothes you need for that new job a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: When you're debt free everything you own feels different. The lack of financial stress in your life goes away. BUT! before you do go gung-ho on...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: The day I paid my last student loan payment and my last car payment was (January 4, 2000) a very happy day for me, being then 100% debt free. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: Would you run a marathon with ankle weights on? It starts off as ankle weights, but then grows into a ball and chain as you dig yourself a lit...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: 100% debt free is an objective. Being there is good, but as long as you have a plan to get there, are sticking to it and it's moving you toward...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: This is a "stress" period, much like the 1930s and 1970s. At a time like this, it is smart to be debt free, and to have money saved for the lik...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: As others mentioned, the only clear reason to remain in debt is if you can find an investment that yields more than what you're paying to maint...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: Having no debt should be the ultimate goal for every household, IMHO, but at what cost? As an example, I had some clients (before they started ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: A Simple Rule to discern between good and bad debt: Does this mean you should never buy a house or car? Of course not. But if you accrue bad d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: My take is that there are many factors to consider when deciding whether to accelerate payment of a debt beyond the require minimum. Ideally yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: Very smart. Let other people pay you interest. Don't pay other people interest. And, yes, I know it's possible to borrow money from one plac...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: Considering that we are in a low-interest rate period (the lowest in history), it's smart to loan money from the bank to reinvest in property o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How smart is it to really be 100% debt free? ### Answer: Around 3 months back, I paid back my last loan from my father which he gave for the car. Now I am totally debt free from 2 months. I have paid ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can't the account information on my checks be easily used for fraud? ### Answer: Yes, and there are almost no checks (no pun intended) on people pulling money from your account using a routing number....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can't the account information on my checks be easily used for fraud? ### Answer: Yes, those numbers are all that is needed to withdraw funds, or at least set online payment of bills which you don't ow...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can't the account information on my checks be easily used for fraud? ### Answer: The bottom line is to keep most of your money in accounts with no check privileges and to not give the account numbers ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can't the account information on my checks be easily used for fraud? ### Answer: That's accurate. Here is another risk with the current checking system, which many people are not aware of: Anyone who...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can't the account information on my checks be easily used for fraud? ### Answer: When an someone as esteemed and smart as Donald Knuth tells you the chequing system is busted it's time to close your c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can't the account information on my checks be easily used for fraud? ### Answer: I was a victim of this. I'm not sure who got my routing and account number off my check, but someone subscribed to Pla...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can't the account information on my checks be easily used for fraud? ### Answer: Yes this is a huge security loophole and many banks will do nothing to refund if you are scammed. For example for busi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to share income after marriage and kids? ### Answer: My suggestion would be that you're looking at this the wrong way, though for good reasons. Once you are a family, you should - and, in most ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to share income after marriage and kids? ### Answer: You remind me a lot of myself as I was thinking about marriage. Luckily for me, my wife was much smarter about all this than I was. Hopefully, ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to share income after marriage and kids? ### Answer: I started out thinking like you but I quickly realised this was a bad approach. You are a team, aren't you? Are you equals or is one of you an ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to share income after marriage and kids? ### Answer: I haven't seen this addressed anywhere else, so I'll make a small answer to add on to the great ones already here. Money isn't the only way a p...