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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Merchant dispute with airline over missed flight, and which credit cards offer protection? ### Answer: You have no grounds for a refund. The flight took off on time, and you chose not to be on board. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Merchant dispute with airline over missed flight, and which credit cards offer protection? ### Answer: What you are looking for is travel insurance. I have never heard of this being offered as a credi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Merchant dispute with airline over missed flight, and which credit cards offer protection? ### Answer: EDIT To answer what I think you question is: I do not know of anything other than trip cancellati...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the highest quintile the only quintile whose wealth exceeds its income? ### Answer: I think you came up with a worthy Masters/PhD research project, it is a great question. This is in Australia...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the highest quintile the only quintile whose wealth exceeds its income? ### Answer: There are a lot of forces at play here, one of which is addressed in your second bullet point. Housing, tran...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the highest quintile the only quintile whose wealth exceeds its income? ### Answer: In a business environment, this phenomenon could be easily explained by 'operational leverage'. Operational ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any advantage to owning equity in a company compared to a royalty agreement? ### Answer: Each way you go is a little bit of a gamble. Owning equity in the company is best in situations wher...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: There's an aspect to this question that I really love. In general, it's a question about consumer behavior that can be expanded to inquire about the purch...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: How can people afford luxury cars? The same way they can afford anything: by finding it cheaply, saving for it, or adjusting their priorities. Company car...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: Keep in mind your household income is in the top 20%, which does not translate to wealth. Given a healthy income, and no debt, other then a small house pa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: A while back I sold cars for a living. Over the course of 4 years I worked for 3 different dealerships. I sold new cars at 2 and used at the last one. W...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: In addition to those who are wealthy (not the same as high income), there are also a certain number of people whose professional livelihood is enhanced by...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: Partly I suspect this is selection bias. You say you see so many luxury cars go by. But if you're looking for them, you're going to notice them. Have you ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: I'll read between the lines: you're (justifiably) feeling smart about how you manage your money: debt-free, smart about your spending, saving for retireme...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: It's all about what you value personally. I'm mid-30s and drive a $40K "luxury" sports car. I also happen to wear a $6K wristwatch every day. I purchase...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: It very much depends on whether you want to drive around in an expensive car, or whether you want an expensive car parked on your driveway. And whether yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: Most of the people I know that own them are slightly older, and thus in their prime earning years, and many have paid off their homes. That can free up $1...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: I don't think you're missing anything on the math side as far as the payments. Likewise, it may seem everyone's driving a nicer car, but I'm going to pre...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: Each of us makes our own way in life, making choices based upon or own needs and desires. Some of us choose to live simple lives, others choose more compl...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: A used luxury car coming out of lease is usually very affordable. They are usually in good condition, still look relatively new, and are within the same p...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: It comes down to individual priorities. Some people prefer to spend their money on a luxury car or SUV, rather than on computer gear, a bigger house, hav...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: Not a direct answer, but... a friend pointed out to me that z proper luxury limo, if loaded with four sales reps going to the same meeting, is cheaper tha...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: I will answer the question from the back: who can NOT afford luxury cars? Those whose parents paid for their college education, cannot afford luxury cars,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: In many (most?) cases, luxury cars are leased rather than purchased, so the payments on even an expensive car might not be as high as you'd expect. For si...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: Approximately 25% of all cars sold last year were leased, which is the highest on record. When you are leasing you don't own the car, instead you are basi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: I want to add that in my country, Israel, the tax on cars is extraordinarily high. Cars in Israel cost in average twice or more then in the US (for exampl...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: I must say, I can't completely agree with the tone of most of these answers. I think there may be a good reason to buy a new car, or a luxurious used car...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Who can truly afford luxury cars? ### Answer: Bravo to A.O's analysis, even with it's resentful tone.... I did not have any help from my parents and still can't afford a luxury car. I have two college...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paying myself a dividend from ltd company ### Answer: In a simple case as the sole UK resident director/shareholder of a company, with that company as your only income, you are usually best paying you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paying myself a dividend from ltd company ### Answer: manage the company properly. If you aren't much aware about company rules and regulation or tax matters, get an accountant so that you don't mess ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paying myself a dividend from ltd company ### Answer: Adding to webdevduck's answer: Before you calculate your profits, you can pay money tax-free into a pension fund for the company director (that is...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Optimal term/number of months for car finance or lease? ### Answer: If you have the money to pay cash for the car. Then 0 months will save you the most money. There are of course several caveats. The ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Calculating the total capital of a company? ### Answer: I was wondering how do we calculate the total capital of a company? Which items should I look for in the financial statements? Total capital usu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Calculating the total capital of a company? ### Answer: Total Capital This is a very old fashioned term that really is mostly only used in the finance industry today, like when everyone was obsessed w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Calculating the total capital of a company? ### Answer: Opening capital = opening assests-opening liabilities ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the implications of a corporate stock repurchase or share buyback program? ### Answer: Ignoring taxes, a share repurchase has exactly the same effect on the company and the shareholders' weal...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the implications of a corporate stock repurchase or share buyback program? ### Answer: A board authorizes the repurchase of shares because they feel the stock in undervalued. The hope is that...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the implications of a corporate stock repurchase or share buyback program? ### Answer: The future shares will be fewer in number, yet have claim to less cash in the bank. All in all, there's ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the implications of a corporate stock repurchase or share buyback program? ### Answer: the implications are that the company's earnings per share may seem greater, (after the company buys the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the implications of a corporate stock repurchase or share buyback program? ### Answer: A stock buy back reduces the number of stocks available on the open market. Since stocks are literally ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I determine ownership split on a franchise model? ### Answer: There is no one solution to every project finance problem. Two models might make sense in this situation, however. In this case, yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I determine ownership split on a franchise model? ### Answer: There is no right and wrong answer to this question. What you and your business partner perceive as Fair is the best way to split t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Home owners association for houses, pro/cons ### Answer: Some examples where an HOA is a positive thing: 1) Amenities: Maybe it is professionally maintained landscaping at the front of the subdivision...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Home owners association for houses, pro/cons ### Answer: At its best, a HOA provides the same benefits as a condo association -- shared investment in the shared neighborhood resources/environment. At...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Home owners association for houses, pro/cons ### Answer: As I understand it the basic premiss of a HOA is to ease communication between neighbors and help work towards common community goals. As I un...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Home owners association for houses, pro/cons ### Answer: I think it depends a lot on your idea of how you should relate to your neighbors. Personally, I think that I should be allowed to do just about...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Home owners association for houses, pro/cons ### Answer: I agree with the basic purpose of an HOA. Unlike the poster above Jay, I do believe that people painting their houses purple will definitely af...
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: I'd pile up as much cash as you can in a savings account - you will need money for the move (even if it's ju...
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: What kind of life insurance is cheaper? I'm not sure about term vs. whole vs. universal, etc ### Answer: Term is the way to go. Whole/universal are basically a combo of term and savings, so buy term l...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What kind of life insurance is cheaper? I'm not sure about term vs. whole vs. universal, etc ### Answer: Whole life in most instances is a very bad plan. It's marketed as a life insurance policy wrapp...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What kind of life insurance is cheaper? I'm not sure about term vs. whole vs. universal, etc ### Answer: Wow, very amused by some of the answers. I will comment on those later. To directly answer your...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What kind of life insurance is cheaper? I'm not sure about term vs. whole vs. universal, etc ### Answer: All life insurance is pretty much the same when it comes to cost. You can run the numbers over ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What kind of life insurance is cheaper? I'm not sure about term vs. whole vs. universal, etc ### Answer: TL;DR: Only term is pure insurance and is the cheapest. The rest are mixtures of insurance and...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I have credit cards without having a credit history or credit score? ### Answer: That is an opinion. I don't think so. Here are some differences: If you use credit responsibly and take the t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I have credit cards without having a credit history or credit score? ### Answer: For instance and to give a comparison to the US - in Austria, almost everybody gets a credit card (without a cr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Company asking for card details to refund over email ### Answer: If it is a well known company that wants to give you a refund, I would not worry about giving them your credit card number. However, I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Company asking for card details to refund over email ### Answer: I used to work for a online payment posting company. Anytime a payment is made via Credit Card to a company that does not have PCI DSS(...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Company asking for card details to refund over email ### Answer: Personally, I would just dispute this one with your CC. I had a situation where a subscription I had cancelled the prior year was bill...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Company asking for card details to refund over email ### Answer: While I agree with Ben a lot I feel like his answer is really poor here. You do not call a number to give your credit card information ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Company asking for card details to refund over email ### Answer: A bona-fide company never needs your credit card details, certainly not your 3-digit-on-back-of-card #, to issue a refund. On an older...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Company asking for card details to refund over email ### Answer: Definitely push for a check, they may not do anything nefarious with your credit card number however someone else may be able to read t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What Did Benjamin Graham Mean by Earnings Stability in The Intelligent Investor? ### Answer: Yes - this is exactly what it means. No losses (negative earnings). With today's accounting methods, you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What Did Benjamin Graham Mean by Earnings Stability in The Intelligent Investor? ### Answer: Please note that the following Graham Rating below corresponds to five years: Earnings Stability (100% ⇒ 10...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How long can I convert 401(k) to Roth 401(k)? ### Answer: Conversions must be done during the calendar year. This would apply to both IRA and 401(k) accounts. For IRAs, deposits may be made until 4/1...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How long can I convert 401(k) to Roth 401(k)? ### Answer: the deadline for roth conversions is december 31st. more precisely, roth conversions are considered to have happened in the tax year the dist...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Long vs. short term capital gains on real estate ### Answer: No, it's not all long-term capital gain. Depending on the facts of your situation, it will be either ordinary income or partially short-te...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Dry cleaners lost $160 pants, what should I do? ### Answer: Do you have the claim ticket? I'll assume yes. Do a Google search for "Dry Cleaner Regulations for [state you live in]" and see if there is ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Dry cleaners lost $160 pants, what should I do? ### Answer: I really like Rocky's answer, some more info: Keep in mind there is no limit on punitive damages. You could sue for the pants (160) + the f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Dry cleaners lost $160 pants, what should I do? ### Answer: Read the claim ticket or receipt for when you made the initial drop-off. Every dry cleaning business that I've used in the USA has had a wa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Dry cleaners lost $160 pants, what should I do? ### Answer: You are looking to be made whole, so the requests need to be reasonable. You need to be clear that you want: You aren't going to 'punish' t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Dry cleaners lost $160 pants, what should I do? ### Answer: Dude, it's your lucky day! You just won the lottery!! Do like this guy and sue them for $67 million :-) Pearson v. Chung, better known as t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between equity and assets? ### Answer: Accounts track value: at any given time, a given account will have a given value. The type of account indicates what the value represents....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between equity and assets? ### Answer: Equity does not represent production divisions in a company (i.e. chocolate, strawberry, and vanilla does not make sense). In Sole propri...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between equity and assets? ### Answer: Not to detract from the other answers at all (which are each excellent and useful in their own right), but here's my interpretation of the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the fractional-reserve banking not a Ponzi scheme? ### Answer: They're not at all the same. A Ponzi scheme is a fraudulent investment method that pays off early investors with deposits from la...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the fractional-reserve banking not a Ponzi scheme? ### Answer: You are forgetting one crucial point regarding the money supply. The US Federal Reserve increases the money supply, meaning some...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the fractional-reserve banking not a Ponzi scheme? ### Answer: The fundamental underlying difference between a bank and a Ponzi scheme: When a bank lends money and charges interest, people can...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the fractional-reserve banking not a Ponzi scheme? ### Answer: The Ponzi/Madoff schemes were closed loops, so the only source of the so-called "interest" on the money was the contributions of ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the fractional-reserve banking not a Ponzi scheme? ### Answer: No, fractional reserve banking isn't a scam. A simple exercise: replace dollars with time. You're trading some time now for time ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the fractional-reserve banking not a Ponzi scheme? ### Answer: It is possible to pay down debt (including interest) without issuing new debt money to pay for it. I think this is the heart of y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is the fractional-reserve banking not a Ponzi scheme? ### Answer: Your question contains two different concepts: fractional reserve banking and debt-based money. When thinking of these two thing...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: On paper I have 1 share in my company. How can I sell a smaller percentage of my company to another party? ### Answer: Simple: Do a stock split. Each 1 Ordinary share now = 100 Ordinary shares (or 100...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: On paper I have 1 share in my company. How can I sell a smaller percentage of my company to another party? ### Answer: There are 2 basic ways to have someone buy partial ownership of your company: OR ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: On paper I have 1 share in my company. How can I sell a smaller percentage of my company to another party? ### Answer: Do a share split. Your initial 1 share each becomes 10 (or 100) shares each, th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: On paper I have 1 share in my company. How can I sell a smaller percentage of my company to another party? ### Answer: You actually have a few options. First, you can do a share split and then sell an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I considered in debt if I pay a mortgage? ### Answer: The statistic you cited comes from the Federal Reserve Board's Survey of Consumer Finances, a survey that they do every three years, most recen...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I considered in debt if I pay a mortgage? ### Answer: I think you're thinking that "in debt" doesn't just mean "owes a debt" but somehow means "owes more debt in total than the assets". That condit...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I considered in debt if I pay a mortgage? ### Answer: Yes. A mortgage is a kind of debt. Someone lends you money to buy your house, and you owe them the money, so you have debt. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I considered in debt if I pay a mortgage? ### Answer: Yes, a mortgage is debt. It's unique in that you have a house which should be worth far more than the mortgage. After the mortgage crisis, man...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I considered in debt if I pay a mortgage? ### Answer: If you owe money to someone else then you are in debt, at least in the common meaning of the word. What you happen to own, or what you spent t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I considered in debt if I pay a mortgage? ### Answer: Mortgage is a (secured) debt, a combination of a promissory note, and a security interest providing the mortage holder a secured interest in th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Am I considered in debt if I pay a mortgage? ### Answer: The expression "in debt" when talking about a person's financial affairs means that the sum of debit balances on all accounts exceeds the sum o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I received $1000 and was asked to send it back. How was this scam meant to work? ### Answer: This is a very trivial scam. Flow is like this: Send money to Mr. X (you, in this case). Call Mr. X and ask...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I received $1000 and was asked to send it back. How was this scam meant to work? ### Answer: This is almost certainly a scam or a mistake. This is not good, spendable money: it is not yours to keep. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I received $1000 and was asked to send it back. How was this scam meant to work? ### Answer: Possible ways they could make money (or think they could): I would go back through your transaction history...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I received $1000 and was asked to send it back. How was this scam meant to work? ### Answer: It could be money laundering. so: Answer 1: They didn't get your data wrong. They indeed sent you $1,000. H...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I received $1000 and was asked to send it back. How was this scam meant to work? ### Answer: There are three possibilities. This is a scam, as others have pointed out, it works by you sending money, ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I received $1000 and was asked to send it back. How was this scam meant to work? ### Answer: This was most likely a scam, although I do know of cases where a transfer intended for one company ended up...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I received $1000 and was asked to send it back. How was this scam meant to work? ### Answer: OK, there is no way in hell that a stranger should have your contact details. there is no way in hell that...