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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: All great answers. The only thing I didn't see mentioned was that student loans are not dischargable in a bankruptcy. So for example ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is the Swiss stock market inversely correlated with the Swiss Franc like Japan today? ### Answer: Roughly about 1 of 2 Swiss francs is won abroad. So, yes it is easier for Swiss companies to export wh...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does high frequency trading work if money isn't available for 2-3 days after selling? ### Answer: Margin accounts do not have the problem you are imagining, which is unique to cash accounts ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does high frequency trading work if money isn't available for 2-3 days after selling? ### Answer: High frequency trades are intra day. The would buy a stock for 100 and sell for 100.10 multiple ti...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does high frequency trading work if money isn't available for 2-3 days after selling? ### Answer: Purchases and sales from the same trade date will both settle on the same settlement date. They do...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does high frequency trading work if money isn't available for 2-3 days after selling? ### Answer: As previously answered, the solution is margin. It works like this: You deposit e.g. 1'000 USD at ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Mortgage refinancing fees ### Answer: tl;dr: I think you can find a much better deal. Doing a strait refi will cost you some amount of money. However, a 2.5% fee ont top of closing costs seems really...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Mortgage refinancing fees ### Answer: tl;dr: I agree with Pete B.'s assertion that you should continue shopping. That's not the whole story though; there are other factors that can raise your rate, an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Mortgage refinancing fees ### Answer: 2.5%? Whoa, you are being robbed there. Straight-up, stripped-down, and bent-over-a-table robbed. Never agree to "fees". If they don't want to do the work to gi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are BIC and SWIFT code the same things? ### Answer: IBAN -> is International Bank Account Number. The number is constructed in such a way that it uniquely identifies your account in the world. I.e. it...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are BIC and SWIFT code the same things? ### Answer: BIC and IBANN are used in EU (and some other OECD countries) for inter bank transfers. SWIFT is used everywhere for interbank transfers. In the US -...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need another health insurance policy? ### Answer: Most of the points by MrChrister are valid. I can't say much for Philippines, however there is a reason for one to go with individual insurance f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need another health insurance policy? ### Answer: While I can't say how it is in the Philippines, my wife the insurance broker leads me to believe that individual insurance is more expensive than...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need another health insurance policy? ### Answer: I understand that if I have multiple health insurance policies, I can only make claim from only one of them if ever I incur medical expenses (I'm...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why can't I withdraw the $57 in my account? ### Answer: Is there a debit card accessing this account? When you spend money on a debit card for certain item, including, but not limited to gas, restaur...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why can't I withdraw the $57 in my account? ### Answer: Given you mention a check clearing, in addition to debit card holds as JoeTaxpayer notes, you may also have funds that are on hold for that reas...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do you choose which mortgage structure is appropriate when buying a home? ### Answer: There are several factors that you need to consider: If you have already decided on the house. Did you prequa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do you choose which mortgage structure is appropriate when buying a home? ### Answer: Go for 15 years loan - Lower interest rate over 2-5 years period. If you can afford to pay 20% down then pleas...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do you choose which mortgage structure is appropriate when buying a home? ### Answer: Down payment: Emphatically avoid PMI if at all possible; it's pouring money down the drain. Do 20% down if you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: You're looking at a used car, which is good, but I think you can still be much wiser with the type of car you're looking to purchase. Maybe I'm such a fu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: Generally speaking, buying a fancy new car out of college is dumb. Buying a 3 year old flashy car with a 60 month loan is going to eat up your income, an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: I've seen this approach to buying/funding cars described in a couple of different ways over the years. Random thoughts: ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: DO NOT buy this car. First, I want to say I love BMW's. There's a reason why they call them "ultimate driving machine" and why other car manufacturers c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: Read "Stop Acting Rich" by Dr Thomas Stanley. I'm concerned that even before you've earned your first paycheck you want a flashy car. $4800/yr on $63K/yr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: You have a job "lined up". What if it falls through? Then you have to sell your fancy car, and you are back to scare, apart from the dough you owe your d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: nan ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: I agree with the consensus as far as getting a cheaper car, paying with cash, getting a more fuel efficient car, etc. But I'd like to point out, you sho...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: Think about it. IF you save $15K by buying a Honda or a Mazda, you can invest those money at modest 5% average, you'll have over 60K before you retire, w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: I support the strategy to buy a less expensive car at the outset and then save for that more expensive car. You mentioned that you would be able to save ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: Buy the BMW and enjoy it. An MBA? Now that is a true waste of money. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: I realize I'm drudging up a somewhat old post here (apologies), but I've found myself in a similar situation recently and thought I would chime in. I was...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: Buying this car would be a good idea because you will quickly learn why you feel you need a BMW (that you cannot afford). This is not an investment, but...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying my first car out of college ### Answer: I know I came a little late to this discussion but let me give you my opinion. I think that purchasing the BMW is a terrible investment for obvious reaso...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: what if a former employer contributes to my 401k in the year following my exit? ### Answer: The vast majority of individual taxpayers in the United States operate on a cash basis of accounting. This m...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: what if a former employer contributes to my 401k in the year following my exit? ### Answer: Publication 590a covers this in a fairly specific manner. Page 11, section "Are You Covered by an Employer P...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: what if a former employer contributes to my 401k in the year following my exit? ### Answer: According to the IRS, you can still put money in your IRA. Here (https://www.irs.gov/Retirement-Plans/Plan-P...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: found a 1994 uncashed profit sharing retirement plan check ### Answer: Checks (in the US, anyway) are only good for six months after they have been written. After that. under the US Uniform Commerical...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a Canadian credit card which shows holds? ### Answer: PC MasterCard recently added this as a new feature to their online system. It lets you see "Pending Authorizations" for your card when yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a Canadian credit card which shows holds? ### Answer: It's not so much a credit card, but a financial institution's online platform that either provides this functionality or not. The followi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there a Canadian credit card which shows holds? ### Answer: As for PC Mastercard like stated by @nullability, VISA Desjardins list the "Pending Authorizations" almost instantly (the time it's take ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does a brokerage firm work? ### Answer: Brokerages offer you the convenience of buying and selling financial products. They are usually not exchanges themselves, but they can be. Typically there i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does a brokerage firm work? ### Answer: The brokerage executes the transactions you tell them to make on your behalf. Other than acting as your agent for those, and maintaining your account, and c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does a brokerage firm work? ### Answer: Real target of commisions is providing "risk shelter". It is kind of "insurance", which is actually last step for external risks to delete all your money. I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should we park our money in our escrow account? ### Answer: The likely outcome of adding extra money to your escrow account is that the bank will send you a check for excess funds at the end of the ye...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should we park our money in our escrow account? ### Answer: You should talk to a financial fiduciary (make sure they are a fiduciary, not all planners are) about investing your money. Even ultra safe...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a stock warrant? How do warrants work? ### Answer: In general, a warrant is a security issued by a company allowing the holder to purchase a certain number of a particular class of shares at a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a stock warrant? How do warrants work? ### Answer: In Australia there are 2 type of warrants (I don't know if it is the same in the US, UK and other countries), the first are trading warrants ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I find information on corporate bonds (especially those rated as “junk”) ? ### Answer: Bond information is much tougher to get. Try to find access to a Bloomberg terminal. Maybe you have a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Short-sell, or try to rent out? ### Answer: A short sale will be pretty bad for your credit report. It will linger for 7 years. This may ruin your opportunity to buy in the new area. On the other han...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Short-sell, or try to rent out? ### Answer: There is another option. Stay where you are. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I cosigned on a house for my brother ### Answer: This is why we tell people not to co-sign unless they are able and willing to risk that money becoming a gift... or are able and willing to treat it as...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I cosigned on a house for my brother ### Answer: He wasn't wrong that a mortgage would help your credit score, assuming that this was a perfect world and everyone held up their end of the bargain. How...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are tax deductions voluntary? ### Answer: I did a little research and found this article from 2006 by a Villanova law professor, titled "No Thanks, Uncle Sam, You Can Keep Your Tax Break". The final ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are tax deductions voluntary? ### Answer: There are many people who have deductions far above the standard deduction, but still don't itemize. That's their option even though it comes at a cost. It ma...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are tax deductions voluntary? ### Answer: What kind of "deductions" are you talking about? Many deductions, like the standard/itemized deductions, come after the AGI, and do not affect the AGI, so I d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are tax deductions voluntary? ### Answer: Legally: gods know. I would strongly recommend asking the Law asre of Stack Exchange to advise on that. Practically: What's the worst that happens? They audit...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a wealthy investor invest in or make a deal with a company before it goes public / IPO? ### Answer: Yes, an investment can be made in a company before IPO. The valuation process is similar as that...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a wealthy investor invest in or make a deal with a company before it goes public / IPO? ### Answer: Yes, it is common for investors to make equity investments in technology companies pre-IPO. The...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a wealthy investor invest in or make a deal with a company before it goes public / IPO? ### Answer: IPO is "Initial Public Offering". Just so you know. The valuations are done based on the company...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How many days do I have to hold a stock before it is considered a capital gain by the CRA? ### Answer: You don't have to wait. If you sell your shares now, your gain can be considered a capital gain ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What effect would sovereign default of a European country have on personal debt or a mortgage? ### Answer: Patrick, This article points out three likely effects (direct and indirect) sovereign default...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What effect would sovereign default of a European country have on personal debt or a mortgage? ### Answer: This is a hard question to answer. Government debt and mortgages are loosely related. Banks...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What effect would sovereign default of a European country have on personal debt or a mortgage? ### Answer: If the default happens through mass monetary inflation rather than openly ("We're not paying ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Home Valuation in a Dodgy neighborhood ### Answer: Bad areas are tough to value as a owner-occupied property, because the business model for being a slumlord is to rent apartments in absentia, usually...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Home Valuation in a Dodgy neighborhood ### Answer: Over the last ten years you have reaped the benefits of a good financial decision. (Presumably your low mortgage has freed up money for other financi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Home Valuation in a Dodgy neighborhood ### Answer: I wouldn't personally spend any money on an appraisal. Spend some time yourself looking at Zillow.com and maybe Realtor.com and other sites to revie...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Shorting Obvious Pump and Dump Penny Stocks ### Answer: Shorting penny stocks is very risky. For example, read this investopedia article, which explains some of the problems. In general: If you have...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Shorting Obvious Pump and Dump Penny Stocks ### Answer: Assuming you have no non-public material information, it should be perfectly legal. I suspect it's not a great idea for the reasons that Joe out...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I just made $50K from selling my house. How should I invest the proceeds? ### Answer: It sounds like you want to lock-up your money in something relatively safe, and relatively hard to touch. You may ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I just made $50K from selling my house. How should I invest the proceeds? ### Answer: I know an answer has been accepted, but you need an emergency fund, ideally enough to cover at least 3 months of a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I just made $50K from selling my house. How should I invest the proceeds? ### Answer: First pay off all existing debt. Then set up at least 6 month emergency fund. Freelancing exposes you to way more...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I check my credit score? ### Answer: http://annualcreditreport.com/ That's the official site for getting your free yearly credit report (one free per year from each of the 3 reporting bureaus)...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I check my credit score? ### Answer: Assuming you are asking about a credit score in the United States, the following applies. To find out your FICO score, navigate to AnnualCreditReport, the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I check my credit score? ### Answer: Since no one else answered this part of your question yet: Checking your own credit score or report will not affect it in any way. It only hurts you when...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I check my credit score? ### Answer: Different states have different laws, check your local laws concerning credit. Some states even guarantee you to get one free credit report per year. If yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I check my credit score? ### Answer: Check with your bank. As of January, 2015, the following banks and credit unions are offering free credit-scores: Announced, in the pipeline: Source: Bank...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Oh, hail. Totaled car, confused about buy-back options ### Answer: It seems like there are a few different things going on here because there are multiple parties involved with different interests. T...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How long should I keep my bills? ### Answer: Consumerist posted a list of how long to keep bills. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How long should I keep my bills? ### Answer: In general, you don't need to keep bills around for more than a few months. The exceptions are: anything that was itemized on your federal or state income...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How long should I keep my bills? ### Answer: In normal cases you don't need it beyond 3-6 months. Beyond this destroy it. However in certain cases its required to be kept; For example if you need to p...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How long should I keep my bills? ### Answer: I'd imagine you want to keep the utility bills around to dispute any historical billing errors or anomalies for perhaps 6 months to a year. Beyond that, yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How long should I keep my bills? ### Answer: Shred it all. You might want to keep a record going back at most a year, just in case. But just in case of what? What is a good idea is to have an elect...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I open a Bank Account in Canadian dollars in the US? ### Answer: If you can make the trip to BC yourself, I'd recommend opening an account with TD Canada Trust. They allow non-citizens to ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I open a Bank Account in Canadian dollars in the US? ### Answer: Everbank has offered accounts in foreign currencies for a while. https://www.everbank.com/currencies Takes a while to get it...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I open a Bank Account in Canadian dollars in the US? ### Answer: Give Harris Bank a call; they might be able to help you As of August 21, 2015, Harris bank does NOT offer Canadian dollar ac...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I open a Bank Account in Canadian dollars in the US? ### Answer: Royal Bank in Canada can open an account for you in the US through RBC (the US affiliate to Royal Bank of Canada) I think i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I open a Bank Account in Canadian dollars in the US? ### Answer: Canada, like other second-rate economies with weak currencies, provides USD accounts. It is not the same vice versa. It is...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to double-entry bookkeep money incoming from sold items ### Answer: If you were a business, all your assets would have a dollar value, so when you sold them you'd decrease the amount of assets by ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Investing: P/E Ratio basic question ### Answer: The idea here is to get an idea of how to value each business and thus normalize how highly prized is each dollar that a company makes. While some comp...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Investing: P/E Ratio basic question ### Answer: Let's take a step back. My fictional company 'A' is a solid, old, established company. It's in consumer staples, so people buy the products in good time...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Investing: P/E Ratio basic question ### Answer: While on the surface it might not make sense to pay more than one dollar to get just one dollar back, the key thing is that a good company's earnings ar...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What one bit of financial advice do you wish you could've given yourself five years ago? ### Answer: 2 things: ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What one bit of financial advice do you wish you could've given yourself five years ago? ### Answer: I wish I had learned my lesson from the dot com bubble before I took a piece of the housing bubble....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What one bit of financial advice do you wish you could've given yourself five years ago? ### Answer: Maybe not exactly 5 years ago, but the big thing I wish I understood starting out my career was ret...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What one bit of financial advice do you wish you could've given yourself five years ago? ### Answer: (more like 10 years ago, but that's beside the point) Save, save, save! Both in the notion of squee...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What one bit of financial advice do you wish you could've given yourself five years ago? ### Answer: I wish I would have: ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What one bit of financial advice do you wish you could've given yourself five years ago? ### Answer: I wish I had started contributing to the pension fund offered by my employer sooner than it became ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What one bit of financial advice do you wish you could've given yourself five years ago? ### Answer: I was offered a student credit card and refused it. If I'd taken it and used it sparingly, paying o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What one bit of financial advice do you wish you could've given yourself five years ago? ### Answer: Compound interest. Next time you buy a 100$ toy realize that if you save it - in x years that 100$ ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What one bit of financial advice do you wish you could've given yourself five years ago? ### Answer: Now, if I wasn't concerned with the integrity of my already tainted soul I would have given myself ...