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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Investing $50k + Real Estate ### Answer: My spouse will only be entering medical school within 2 years at the earliest, and will likely be there for about 4-5 years. If she get's into the school she w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Investing $50k + Real Estate ### Answer: I have been on the same boat as you are right now. So basically, it depends on your goals, risk tolerance, upcoming life events! You want a plan not just for t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Investing $50k + Real Estate ### Answer: Get rid of the lease and buy a used car. A good buy is an Audi because they are popular, high-quality cars. A 2007 Audi A4 costs about $7000. You will save a l...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: UK - How to receive payments in euros ### Answer: See my comment below about the official exchange rate. There is no "official" exchange rate to apply as far as I'm aware. However the bank is alread...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: UK - How to receive payments in euros ### Answer: I am not sure about transferwise and how they work, but generally when I had to transfer money across countries, I ended up using a foreign currency/t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Online Foreign Exchange Brokerages: Which ones are good & reputable for smaller trades? ### Answer: For "smaller trades", I'm not sure you can beat FXCM.com, a large, dedicated FX trading shop with e...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Online Foreign Exchange Brokerages: Which ones are good & reputable for smaller trades? ### Answer: I used XE trade once several years ago. I found them quite easy to use after the slightly fiddly ac...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Online Foreign Exchange Brokerages: Which ones are good & reputable for smaller trades? ### Answer: Like Ganesh, I've used XE Trade - however I still do, fairly often. I have never had a single prob...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Online Foreign Exchange Brokerages: Which ones are good & reputable for smaller trades? ### Answer: The following have been recommended to me for the UK: When I was doing my investigations, all had g...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Online Foreign Exchange Brokerages: Which ones are good & reputable for smaller trades? ### Answer: I used Oanda.com for Forex trading a couple years ago. I am in the US but I think it's available in...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Online Foreign Exchange Brokerages: Which ones are good & reputable for smaller trades? ### Answer: There are many good brokers available in the market and many spammers too. Personally I have been a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In what category would I put a loan I took to pay an expense ### Answer: A loan is most generally a liability, a part of the balance sheet. Expenses & income are part of the income statement. Income...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pros and Cons of Interest Only Loans ### Answer: Pros: Cons: Before the housing bubble the conventional wisdom was to buy as much home as you could afford, thereby borrowing as much you can afford. B...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pros and Cons of Interest Only Loans ### Answer: Given the current low interest rates - let's assume 4% - this might be a viable option for a lot of people. Let's also assume that your actual interes...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pros and Cons of Interest Only Loans ### Answer: The advantage of interest only mortgages is that they can increase your cashflow as you are only paying the interest and not any part of the principle....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pros and Cons of Interest Only Loans ### Answer: The main disadvantage is that interest rates are higher for the interest-only loan. It's higher risk to the bank, since the principal outstanding is hi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In debts now, help please ### Answer: nan ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: An online casino owes me money and wants to pay with a wire transfer. Is this safe? ### Answer: I don't know which online casino we are talking about, but I would venture to say that online casinos, i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: An online casino owes me money and wants to pay with a wire transfer. Is this safe? ### Answer: I have won a large amount of money on an online casino. How reputed is the company? Have you done any re...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: An online casino owes me money and wants to pay with a wire transfer. Is this safe? ### Answer: Someone online asking for your bank account info never has your best interests at heart. They can send y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: An online casino owes me money and wants to pay with a wire transfer. Is this safe? ### Answer: Keep in mind that in order to fund your online casino account, you either had to provide credit/debit ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Real estate loans for repairs ### Answer: If you intend to flip this property, you might consider either a construction loan or private money. A construction loan allows you to borrow from a bank agai...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I figure out if I will owe taxes ### Answer: Do I get a write off for paying student loans? Maybe. See https://www.irs.gov/publications/p970/ch04.html Generally, personal interest you pay, oth...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I figure out if I will owe taxes ### Answer: If you want to predict the, the easiest solution is to get hold of a copy of last year's tax forms and fill them in with estimated numbers. Odds ar...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I figure out if I will owe taxes ### Answer: Your employer pays the expected (but estimated) taxes for you. So the chances are you don't own more; but that might be different if you have other ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I figure out if I will owe taxes ### Answer: The short answer is - "Your employer should typically deduct enough every paycheck so you don't owe anything on April 15th, and no more." The long a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I figure out if I will owe taxes ### Answer: Do you have a regular job, where you work for somebody else and they pay you a salary? If so, they should be deducting estimated taxes from your pay...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are Bank of America and Citi trading so far below book value? ### Answer: Its not just Citi and BoFA, even Barclays, HSBC and other large Banks are trading below book value in markets they are lis...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are some factors I should consider when choosing between a CPA and tax software ### Answer: Largely it comes down to the complexity of your return (likely relatively simple if it's your first tim...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are some factors I should consider when choosing between a CPA and tax software ### Answer: Hiring a CPA comes into play if you're doing something that requires judgement or planning, such as val...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are some factors I should consider when choosing between a CPA and tax software ### Answer: I'm glad keshlam and Bobby mentioned there are free tools, both from the IRS and private software compa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to process IRS check as a non-resident? ### Answer: I suspect @SpehroPefhany is correct and that your bank will cash a check from the US Department of the Treasury. Especially since they're the s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can stock brokerage firms fail? ### Answer: Brokerages are supposed to keep your money separate from theirs. So, even if they fail as a company, your money and investments are still there, and can be ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can stock brokerage firms fail? ### Answer: Yes, any company can go under. SIPC offers a level of protection. They don't guarantee against stocks dropping, but will replace stocks that you owned, but ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can stock brokerage firms fail? ### Answer: Yes, the entire financial system is based on trust. As we have seen repeatedly, even the ratings agencies can be wrong and in collusion. You need to underst...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Payroll reimbursments ### Answer: Not correct. First - when you say they don't tax the reimbursement, they are classifying it in a way that makes it taxable to you (just not withholding tax at that ti...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Payroll reimbursments ### Answer: What they are doing is wrong. The IRS and the state might not be happy with what they are doing. One thing you can ask for them to do is to give you a credit card fo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Payroll reimbursments ### Answer: As @Dilip suggested in the comments, the problem is the accountability of the reimbursement plans. In order for the reimbursement to be non-taxable, there has to be a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Payroll reimbursments ### Answer: After reading OP Mark's question and the various answers carefully and also looking over some old pay stubs of mine, I am beginning to wonder if he is mis-reading his...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are Credit Cards a service to banks? ### Answer: As i see it, with a debit card, they are taken kinda out of the game. They are not lending money, it seems really bad for them. Not exactly. It i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are Credit Cards a service to banks? ### Answer: Credit cards are a golden goose for banks, as they get to issue high-interest loans and simultaneously generate alot of fee income. Debit cards aren't ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: For net worth, should I value physical property at my cost to replace it, or the amount I could get for selling it? ### Answer: You are not asking for insurance purposes. So I'll go with this - I have...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: For net worth, should I value physical property at my cost to replace it, or the amount I could get for selling it? ### Answer: You're asking for opinions here, because it's a matter of how you look a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: For net worth, should I value physical property at my cost to replace it, or the amount I could get for selling it? ### Answer: My opinion: including the value of depreciating property one owns in a n...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: For net worth, should I value physical property at my cost to replace it, or the amount I could get for selling it? ### Answer: There is no objective "should". You need to be clear why you're trackin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: For net worth, should I value physical property at my cost to replace it, or the amount I could get for selling it? ### Answer: Valuation by definition is what an item is worth, not what you paid for ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are people from UAE and Dubai so rich? ### Answer: They aren't all rich on average. And oil and gas is actually now only about 25% of the economy in the UAE (incredibly!). There are good reasons ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When should I open a “Line of credit” at my bank? ### Answer: With the information you have given, I would say never. Remember the banker is a salesman, and the line of credit is the product. If you d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When should I open a “Line of credit” at my bank? ### Answer: There are two basic types of lines of credit typically offered at a retail bank: Overdraft line of credit is essentially a revolving perso...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When should I open a “Line of credit” at my bank? ### Answer: A line of credit is a poor substitute for an emergency fund. Banks typically have a clause that allows them to stop further withdrawals ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When should I open a “Line of credit” at my bank? ### Answer: The only really good reason to open a line of credit is that you want to buy something that you don't have money for. That's got its own r...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When should I open a “Line of credit” at my bank? ### Answer: I have a line of credit that I have attached to my checking account in case of an overdraft. Since I haven't over drafted my checking ac...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Company wants to sell all of its assets, worth more than share price? ### Answer: Why is the stock trading at only $5 per share? The share price is the perceived value of the company by people buying ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Company wants to sell all of its assets, worth more than share price? ### Answer: The stock exchange here serves as a meeting place for current shareholders who want to sell their shares to someone el...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do I not see goods and services all change their price when inflation is high? ### Answer: In most circumstances prices do not change on a daily basis on most goods and services, and just because...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do I not see goods and services all change their price when inflation is high? ### Answer: How high is high? In countries that suffered hyperinflation such as the Weimar Republic around 1923 and ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do I not see goods and services all change their price when inflation is high? ### Answer: It can take a while for inflation to seep into all aspects an economy and be felt by a consumer. Often, ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Hiring freelancers and taxes ### Answer: I am not a lawyer or a tax accountant, but from the description provided it sounds to me like you have created two partnerships: one in which you share 50% of ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Hiring freelancers and taxes ### Answer: You need to clarify with Bob what your agreement is. If you and Bob are working together on these jobs as partners, you should get a written partnership agreem...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should the price of fuel in Australia at this point be so high? ### Answer: First price isn't artificially maintained at a level. When a refining company signs a contract to buy crude from a supplier,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should the price of fuel in Australia at this point be so high? ### Answer: Fuel prices are regulated in most countires. The way its regulated differs. Essentially the idea is once the retail prices a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should the price of fuel in Australia at this point be so high? ### Answer: (disclaimer: I don't answer specifically about Australia) As long as people don't question car usage and urban sprawl, and t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I find a high-risk, high-reward investment that is not strongly correlated with the U.S. economy? ### Answer: High risk, high reward doesn't really mean anything. The reason that investments a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I find a high-risk, high-reward investment that is not strongly correlated with the U.S. economy? ### Answer: These days almost all risky assets move together, so the most difficult criterion ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I find a high-risk, high-reward investment that is not strongly correlated with the U.S. economy? ### Answer: It requires fairly large levels of capital, but what about seed funding/angel inve...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are my purchases of stock, mutual funds, ETF's, and commodities investing, or speculation? ### Answer: This depends on what your definition of the word is is. Strictly speaking, you are only investing...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are my purchases of stock, mutual funds, ETF's, and commodities investing, or speculation? ### Answer: Every investment comes with a risk. There is also a bit of speculation involved. In there is an a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are my purchases of stock, mutual funds, ETF's, and commodities investing, or speculation? ### Answer: I'd argue the two words ought to (in that I see this as a helpful distinction) describe different...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do grocery stores in the U.S. offer cash back so eagerly? ### Answer: The only card I've seen offer this on credit card purchases is Discover. I think they have a special deal with the stores so ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do grocery stores in the U.S. offer cash back so eagerly? ### Answer: Cash-back also lets the store turn hard currency into an electronic transfer or check, which reduces the hassle/risk of haulin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do grocery stores in the U.S. offer cash back so eagerly? ### Answer: It doesn't cost them anything, they don't pay commission on you taking cash-back. But it brings customers to the stores becaus...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do grocery stores in the U.S. offer cash back so eagerly? ### Answer: The cost to the store is small. They may have to pay a slightly greater fee because the transaction is now bigger. They do nee...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do grocery stores in the U.S. offer cash back so eagerly? ### Answer: Cash back from credit cards is handled separately than the rest of the purchase, i.e. interest begins accumulating on that day...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do grocery stores in the U.S. offer cash back so eagerly? ### Answer: The reason is, stores want customers to use cash. By giving us cash, we are more likely to use cash next time. I feel a litt...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What does “netting” mean in this passage? ### Answer: netting means to combine cash inflows and outflows (e.g. debits/credits, payments/receipts, income/expense) by subtracting the sum of all outflows...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Transferring money between two banks ### Answer: Why? Because they can get away with it, of course. In short - why not? You may want to read the answers to this similar question (my answer is the one ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Transferring money between two banks ### Answer: The US (in fact the global) banking industry is subject to Anti-Money Laundering & Counter-Terrorism funding laws, slowing down funds transfer eliminat...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I research if my student loan company is doing something illegal? ### Answer: The thing to recall here is that auto-pay is a convenience, not a guarantee. Auto-pay withdrawals, notices that a b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: Is there anyway to salvage my investment for short-term? No. If by "salvage" you mean "ge...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: It would be useful to forget about the initial price that you invested - that loss happene...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: I had a coworker whose stock picking skills were clearly in the 1% level. I had a few hund...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: You should be worried. You have made the mistake of entering an investment on the recommen...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: You probably bought the stock near the peak because "it's been up a lot lately." That's th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: If you're asking this question, you probably aren't ready to be buying individual stock sh...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: If you know you have picked a bad stock, the sooner you sell the better. There is a tenden...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: Ignore sunk costs and look to future returns. Although it feels like a loss to exit an in...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: The market doesn't know or care why you bought. What you are asking is effectively 'this ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: Basically, your question boils down to this: Where and how do I squeeze the stock market s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: Some financial planners would not advise one way or the other on a specific stock without ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: I am very surprised no one mentioned the Stock Repair Option Strategy which has real benef...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: You can do several things: After the fact: If you believe the stock will go up, you can bu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: Yes, you could sell what you have and bet against others that the stock price will continu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: Just get out. If the investment isn't going up, you are losing money to inflation, as well...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: Stocks go down and go back up, that's their nature... Why would you sell on a low point? S...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: The worth of a share of stocks may be defined as the present cash value of all future divi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I carelessly invested in a stock on a spike near the peak price. How can I salvage my investment? ### Answer: If the company is stable. I like to recoup losses by buying in the valley and selling it a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what point should I begin paying off student loans? ### Answer: Everyone has made some good points that I was going to mention but to put it in terms that might make it easier to decide. As stated ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what point should I begin paying off student loans? ### Answer: Its almost always better to pay off loans sooner rather than later. Being debt free is amazingly liberating. However, in your cas...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what point should I begin paying off student loans? ### Answer: Pay off your highest-interest debt first: credit card, car, maybe even mortgage. Pay minimums on all else. Student loans are typicall...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what point should I begin paying off student loans? ### Answer: If you have sufficient money to support yourself until you have a career, then paying off your student loan principal on unsubsidized...