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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: Advice to myself: the benefits of being self-employed totally outweigh the risks! ###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: Get an advanced degree. This should increase your earning power. Also learn how to use a computer...
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 known macro-economics taught by the Austrian School types at The Mises Institut...
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: Bank every dollar possible to have more cash available for investing during the 2008/2009 crisis. #...
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: Planned my grocery shopping better. You can't just wake up on Saturday hungry go to the grocer and...
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: Do your homework on all types bonds and other lower-risk instruments, including bond funds and ETFs...
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: When I was contracting I wish I had joined a tax efficient umbrella organisation rather than just w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Flexplan - a company is taking over another, do I pay the balance? ### Answer: This is only one of a series of questions your friend needs to understand. They will also need to know what happens to: v...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a company stop paying dividends? ### Answer: Yes. Companies increase, decrease, start paying and stop paying dividends when they think it appropriate. If a company has been going through some pro...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a company stop paying dividends? ### Answer: Dividends are supposed to be paid from company profits (in the current or previous financial years), there are nuances around what profits mean from co...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: CD interest rate US vs abroad, is there a catch? ### Answer: Part 1 Quite a few [or rather most] countries allow USD account. So there is no conversion. Just to illustrare; In India its allowed to h...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: CD interest rate US vs abroad, is there a catch? ### Answer: If you invest in a foreign bank you are subject to their financial rules and regulations. If you put your money with their CD it will be co...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: CD interest rate US vs abroad, is there a catch? ### Answer: I think your approach of looking exclusively at USD deposits is a prudent one. Here are my responses to your questions. 1) It is highly unl...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is A Company Abusing The Tax Code When It Does This, And How Does The IRS Prevent It? ### Answer: A rather good IRS paper on the topic states that a donation of a business' in-kind inventory would be...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Electric car lease or buy? ### Answer: There are some who argue that you should lease an electric car. These factors are in addition to all the normal pros and cons of leasing vs. buying. The technolo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Electric car lease or buy? ### Answer: Electric does make a difference when considering whether to lease or buy. The make/model is something to consider. The state you live in also makes a difference....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Electric car lease or buy? ### Answer: I would like to add that from my own research, a pro to leasing over buying a new vehicle would be that with the lease the entire 7,500 federal incentive is appl...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Electric car lease or buy? ### Answer: I have coworker who reported that he leased a Nissan Leaf from 2013-2016 and was offered $4000 off the contracted purchase price at the end of the lease due to a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Electric car lease or buy? ### Answer: The good news about maintenance is that there's much less scheduled maintenance because the cars are mechanically much simpler. See the official service schedule...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Electric car lease or buy? ### Answer: I might be missing something, but I always understood that leasing is about managing cash-flow in a business. You have a fixed monthly out-going as opposed to an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are some valuable sources for investment experience, when there is very little to no money to start with? ### Answer: Fake stock market trading may teach you about trading, which isn't necessaril...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are some valuable sources for investment experience, when there is very little to no money to start with? ### Answer: One way to start with stocks is by playing the fake stock market. Investigat...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why did the stock chart for Facebook's first trading day show an initial price of $42 when the IPO price was $38? ### Answer: I'd add, this is actually the way any stock opens every day, i.e. the clos...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why did the stock chart for Facebook's first trading day show an initial price of $42 when the IPO price was $38? ### Answer: The IPO price is set between the underwriters and the specialist in the NA...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What actions can I take against a bank for lack of customer service? ### Answer: Figure out who regulates the bank. Complain to your state banking/consumer affairs department. Complain to your state A...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What actions can I take against a bank for lack of customer service? ### Answer: I don't think the verbal confirmation from the branch manager is worth anything, unless you got it in writing it basica...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What actions can I take against a bank for lack of customer service? ### Answer: You can complain to the Financial Ombudsman Service in Australia. I've never used them in particular but generally org...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the minimum age for early retirement ### Answer: You can withdraw from CPP as early as 60. However, by doing so, you will permanently reduce the payments. The reduction is calculated based on ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to use a companion fare if the total fare cost is more than the companion fare limit ### Answer: You must buy both tickets in 1 transaction and the purchased ticket cannot be purchased with miles....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why big clients want the contractor to be incorporated before giving them work ### Answer: They believe that it reduces the risk that Revenue Canada will deem you to be an employee and make them pay a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do gift cards expire? Does a gift certificate's value depreciate? How long can I keep them for? ### Answer: It depends on: In Canada, Ontario, Manitoba, Alberta and Nova Scotia have each enacted legi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can one get their FICO/credit scores for free? (really free) ### Answer: As of 2014, this answer is deprecated. Read answer here for recent developments up to January 2015. You can get a free cre...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can one get their FICO/credit scores for free? (really free) ### Answer: I get my credit scores from all three bureaus for free - no gimmick. I use a combination of banks that offer this service ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can one get their FICO/credit scores for free? (really free) ### Answer: I visited annualcreditreport.com to get my annual credit report. It is only the report, not the score or FICO score. This...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can one get their FICO/credit scores for free? (really free) ### Answer: I've seen credit cards that provide you your credit score for free, updated once a month and even charted over the last yea...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can one get their FICO/credit scores for free? (really free) ### Answer: It appears that you already know this, but FICO credit scores (as controlled by Fair Isaac Corporation) are the real offici...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can one get their FICO/credit scores for free? (really free) ### Answer: Check with your bank. As of January, 2015, the following banks and credit unions are offering free credit-scores: Announce...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can one get their FICO/credit scores for free? (really free) ### Answer: Credit Sesame monitors your credit score for free. My understanding is that they make their money off of credit card refer...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Bi-weekly payment option ### Answer: Your question is unclear about whether you are moving from bi-weekly payments or to bi-weekly payments. Let's calculate each case. Bi-weekly pay means you will be ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Bi-weekly payment option ### Answer: Biweekly pay for salaried employees is typically calculated as Annual-salary / 26. Twice a month pay for salaried employees is typically calculated as Annual-salar...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Bi-weekly payment option ### Answer: One point that I don't see covered in the other answers yet: How does this affect the months that have 5 weeks. Do we actually lose two weeks a year? I get paid ev...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I be worried that I won't be given a receipt if I pay with cash? ### Answer: If this is because he wants to avoid paying taxes, will I get in trouble if I agree to have him work on my vehicle? ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I be worried that I won't be given a receipt if I pay with cash? ### Answer: There are number of reasons why someone doesn't want to give you a receipt for cash payment. Anything ranging from n...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I be worried that I won't be given a receipt if I pay with cash? ### Answer: In some states, it is your responsibility to pay the sales tax on a transaction, even if the party your purchase fro...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Canceling credit cards - insurance rate increase? ### Answer: You don't need to have a bunch of credit cards lying around; just a couple is fine. Get a "rewards" card (without annual fee) that pays yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Canceling credit cards - insurance rate increase? ### Answer: The comments section to Dilip's reply is overflowing. First - the OP (Graphth) is correct in that credit scoring has become a game. A ser...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Canceling credit cards - insurance rate increase? ### Answer: Your credit score can be part of the algorithm for setting your rates for auto insurance. It is one of many factors including sex, age, zi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Canceling credit cards - insurance rate increase? ### Answer: You can't ask insurers to use a particular score -- they have a state-approved underwriting model that they must follow consistently. Insu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the benefit of a credit card with an annual fee, vs. a no-fee card? ### Answer: How would you respond to these cases: Limited card options - If someone has a bad credit record the cards availab...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the benefit of a credit card with an annual fee, vs. a no-fee card? ### Answer: Just to make this a little less vauge, I will base everything on the Mercedes Benz American Express (MB AMEX) car...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a checking account and how does it work? ### Answer: A checking account is one that permits the account holder to write demand drafts (checks), which can be given to other people as payment an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a checking account and how does it work? ### Answer: A savings account and a checking account (or a "demand" account, or a "transactional" account) have different regulations. For example, fr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a checking account and how does it work? ### Answer: As others have noted, in the U.S. a checking account gives you the ability to write a check, while a savings account does not. I think you ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the fastest way to retire, using passive income on real estate ### Answer: It is worth noting first that Real Estate is by no means passive income. The amount of effort and cost involved (ma...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the fastest way to retire, using passive income on real estate ### Answer: You can't calculate how many houses it will take. To do so you would have to know how much you can charge in rent co...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the fastest way to retire, using passive income on real estate ### Answer: Rule of thumb: To retire with a yearly income of $X, you need to save $(20*X) -- in other words, the safe assumption...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why should one only contribute up to the employer's match in a 401(k)? ### Answer: The matching funds are free money, so it is a very good idea to take that money off the table. Look at it as free 10...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why should one only contribute up to the employer's match in a 401(k)? ### Answer: In addition to George Marian's excellent advice, I'll add that if you're hitting the limits on IRA contributions, the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why should one only contribute up to the employer's match in a 401(k)? ### Answer: I'd hazard that Jim is mostly worried that people are getting ripped off by high employer 401(k) fund fees. A lot of ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why should one only contribute up to the employer's match in a 401(k)? ### Answer: Early this year I wrote an article Are you 401(k)o’ed? I described the data from a 401(k) expense survey and the pun...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why should one only contribute up to the employer's match in a 401(k)? ### Answer: Unfortunately, I missed most of segment and I didn't get to understand the Why? To begin with, Cramer is an entertain...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why should one only contribute up to the employer's match in a 401(k)? ### Answer: If you exceed the income limit for deducting a traditional IRA (which is very low if you are covered by a 401(k) ), t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How To Record Income As An Affiliate ( UK ) ### Answer: Every bill you write counts as income (if the bill doesn't get paid, you would count that as an expense). In cases where you don't write bills, ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How To Record Income As An Affiliate ( UK ) ### Answer: Adsense don't pay you daily. They pay you every month (as they have to calculate the final value). I'd say you only have to declare it when it h...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Quandl financial data : unexpected dividend ### Answer: For MCD, the 47¢ is a regular dividend on preferred stock (see SEC filing here). Common stock holders are not eligible for this amount, so you ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to help a financially self destructive person? ### Answer: I learned this from a business book on managing people, but I think it applies equally well here. You can't put in what God left out of ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to help a financially self destructive person? ### Answer: You say you're not on speaking terms: so you do it via your lawyer. You're divorced: so IMO your obligations are: a) To your kids b) Pur...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to help a financially self destructive person? ### Answer: I'm afraid your best recourse may be legal. I don't know that internet is a necessity, but the court would frown upon anyone paying $4K f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to help a financially self destructive person? ### Answer: You can't help people that don't want help, period. It just doesn't work, and you will waste your time and energy while making the other ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to help a financially self destructive person? ### Answer: Back in the day, they had a highly effective solution for this type of crap, but it is frowned upon in modern society. The second-best so...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to help a financially self destructive person? ### Answer: Wow. Just ... wow. We all must start where we are, I guess. The past is the past. There almost certainly isn't a cheap way to fix this....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to help a financially self destructive person? ### Answer: I am no expert by any means in divorce situations, but it seems like you probably have more than enough evidence (if you can back up ever...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I charge my children interest when they borrow money? ### Answer: I think there's value in charging family members/friends interest if it will make them take the loan seriously. The problem i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I charge my children interest when they borrow money? ### Answer: Tell them you will not loan them any more money until their existing debts are paid off. This is closer to how the real world ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I charge my children interest when they borrow money? ### Answer: Parents are eminently capable of gifting to their children. If it's a gift call it a gift. If it's not a gift, it's either a ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I charge my children interest when they borrow money? ### Answer: Going from personal experience, my parents let my brother and me borrow money from them all the time. However there was always...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I charge my children interest when they borrow money? ### Answer: Would you expect your parents to charge you interest if you borrowed from them? Yes, if they said so when the money was borrow...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I charge my children interest when they borrow money? ### Answer: This is not really the focus of your question, but it's worth noting that if you live in the United States (which your profile...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I charge my children interest when they borrow money? ### Answer: This is largely a cultural issue. I would be appalled at the very idea that my parents would charge me interest for lending me...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I charge my children interest when they borrow money? ### Answer: If they have borrowed money without paying it back, what makes you think you could get interest paid? The problem that you fac...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I charge my children interest when they borrow money? ### Answer: Because this is Money.SE and you're connecting it to offspring, I'd think about a discussion with them to get their agreements...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I charge my children interest when they borrow money? ### Answer: As per the age of your son you mentions i would suggest Yes, charge them an interest amount but lesser than the market rate. A...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I charge my children interest when they borrow money? ### Answer: In terms of preserving good relationships one approach is to charge a nominal rate of interest. maybe a few percent of the tot...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is insurance worth it if you can afford to replace the item? If not, when is it? ### Answer: This entirely depends on two factors: Now let's look at what AppleCare gives you: What it covers is any man...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is insurance worth it if you can afford to replace the item? If not, when is it? ### Answer: In general, if you can afford to replace something, you are able to "self-insure". You really want to unde...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is insurance worth it if you can afford to replace the item? If not, when is it? ### Answer: In regards to purchasing full coverage on your car even if you can afford to replace it, consider the hassl...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is insurance worth it if you can afford to replace the item? If not, when is it? ### Answer: The answer to this question is very different depending on the type of item. From a purely financial persp...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is insurance worth it if you can afford to replace the item? If not, when is it? ### Answer: Insurance is for events that are both and Unexpected and, for many people, catastrophic events are, for exa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is insurance worth it if you can afford to replace the item? If not, when is it? ### Answer: Extended warranty or insurance is a tricky thing. In general, the big screen TV, or other electronics are ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is insurance worth it if you can afford to replace the item? If not, when is it? ### Answer: As a rule, purchasing fairly priced (minus a spread) insurance on items you can afford to replace is a bad ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is insurance worth it if you can afford to replace the item? If not, when is it? ### Answer: As many other posters have pointed out, unless you know (and your insurer doesn't) that because of any reas...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is insurance worth it if you can afford to replace the item? If not, when is it? ### Answer: Generically, like farnsy noted in the other answer, you will only come ahead in dollar terms when you are s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is insurance worth it if you can afford to replace the item? If not, when is it? ### Answer: The key point to answer the question is to consider risk aversion. Assume I suggest a game to you: Throw a ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is insurance worth it if you can afford to replace the item? If not, when is it? ### Answer: Another factor to consider is that resale value of the laptop is quite bit more if it is still under warran...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is insurance worth it if you can afford to replace the item? If not, when is it? ### Answer: Can you afford to replace it? What does that mean? Even if insuring means overpaying, it does spread the r...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do companies only pay dividends if they are in profit? ### Answer: Yes the company can still pay dividends even if they aren't making a profit. 1) If the firm has been around, it might have made profi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I keep getting overcharged at the grocery store. Foul play? ### Answer: Of course, there is no way for us to know whether or not the clerk is trying to rip you off $1.29 at a time, but I can't unders...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is auto insurance ridiculously overpriced for those who drive few miles? ### Answer: There are several aspects to this but at a high level it boils down to A lot goes in to insurance rating and ri...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is auto insurance ridiculously overpriced for those who drive few miles? ### Answer: Not all miles carry the same amount of risk. A survey by Progressive indicated that accidents are most likely t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is auto insurance ridiculously overpriced for those who drive few miles? ### Answer: 4000 miles a year is not a few! European average is about 9000... But nevertheless... But when it comes to risk...