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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is OkPay not allowed in the United States? ### Answer: Here's the real reason OKPay (actually the banks they interface with) won't accept US Citizens. The Foreign Account Tax Compliance Act Cong...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Make punctual contributions to IRS based on earnings ### Answer: I will answer this question broadly for various jurisdictions, and also specifically for the US, given the OP's tax home: Generally, fo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pensions, why bother? ### Answer: The stock market at large has about a 4.5% long-term real-real (inflation-fees-etc-adjusted) rate of return. Yes: even in light of the recent crashes. That means your...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pensions, why bother? ### Answer: James, money saved over the long term will typically beat inflation. There are many articles that discuss the advantage of starting young, and offer: A 21 year old wh...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pensions, why bother? ### Answer: Your gut feeling is absolutely spot on - you shouldn't be worrying about pension now, not at the age of 25. Assuming that you're not a footballer in the middle of the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When is the right time to buy a new/emerging technology? ### Answer: If you're looking for a purely financial answer (ignoring the social/environmental aspects) there are a few different ways you can ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When is the right time to buy a new/emerging technology? ### Answer: The short answer is that it's never the right time to buy an emerging technology. As long as the technology is emerging, you should...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When is the right time to buy a new/emerging technology? ### Answer: When is the right time to buy a new/emerging technology? When it's trading at a discount that allows you to make your money back an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When is the right time to buy a new/emerging technology? ### Answer: As you said, the next generation will be cheaper and more efficient. Same for the generation after that. From a financial standpoin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does payment in goods count as “income” for tax purposes? ### Answer: The IRS defines income quite specifically. On the topic What is Taxable and Nontaxable Income, they note: You can receive income i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is a “total stock market” index fund diverse enough alone? ### Answer: You're missing the concept of systemic risk, which is the risk of the entire market or an entire asset class. Diversification is ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is a “total stock market” index fund diverse enough alone? ### Answer: and seems to do better than the S&P 500 too. No, that's not true. In fact, this fund is somewhere between S&P500 and the NASDAQ C...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is a “total stock market” index fund diverse enough alone? ### Answer: Write off the entire asset class of corporate bonds? Finance theory says yes, the only two asset classes that you need are stocks...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is a “total stock market” index fund diverse enough alone? ### Answer: I don't think you are missing much, if anything, Brendan. You get massive diversification and low fees with a fund like VTI. I'm ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is a “total stock market” index fund diverse enough alone? ### Answer: Brendan, The short answer is no, there is no need to get into any other funds. For all intents and purposes the S&P 500 is "The S...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is a “total stock market” index fund diverse enough alone? ### Answer: Good idea to stay only with VTI if you are 30. For 50, I recommend: 65% VTI 15% VOO 10% VXUS 10% BND ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between “good debt” vs. “bad debt”? ### Answer: The word "good" was used in contrast to "bad" but these words are misused here. There are three kinds of debt: Debt for spending...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between “good debt” vs. “bad debt”? ### Answer: I think people are conflating two orthogonal sets of terms. Unsecured/secured and good/bad are not synonyms. Debt may be secured ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between “good debt” vs. “bad debt”? ### Answer: Here's what Suze Orman has to say about it: Good debt is money you borrow to purchase an asset, such as a home you can afford. Hi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between “good debt” vs. “bad debt”? ### Answer: In general, all forms of debt are bad, as they keep you tied to a financial institution and can be an emotional burden for many. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between “good debt” vs. “bad debt”? ### Answer: None of the previous answers (which are all good) mention margin accounts (loans from your broker). You may also have heard them...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between “good debt” vs. “bad debt”? ### Answer: First of all debt is a technology that allows borrower to bring forward their spending; it's a financial time machine. From borro...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between “good debt” vs. “bad debt”? ### Answer: From what I've heard in the past, debt can be differentiated between secured debt and unsecured debt. Secured debt is a debt fo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between “good debt” vs. “bad debt”? ### Answer: All very good answers for the most part, but I have a definition for Good and Bad debt which is a little bit different from those...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between “good debt” vs. “bad debt”? ### Answer: When I look at debt I try to think of myself as a corporation. In life, you have a series of projects that you can undertake whi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between a stock and a bond? ### Answer: WilliamKF explained it pretty well, but I want to put it in a more simplistic form: ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between a stock and a bond? ### Answer: A stock is an ownership interest in a company. There can be multiple classes of shares, but to simplify, assuming only one class of shar...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between a stock and a bond? ### Answer: In a sentence, stocks are a share of equity in the company, while bonds are a share of credit to the company. When you buy one share of s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tax Witholding for Stock Sale ### Answer: I assume US as mhoran_psprep edited, although I'm not sure IRS necessarily means US. (It definitely used to also include Britain's Inland Revenue, but they ch...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is the Net Profit the 'final word' on a company's health? ### Answer: To answer your question briefly: net income is affected by many things inside and outside of management control, and must be supp...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a startup can always issue new shares, what value is there to stocks/options? ### Answer: The short answer, probably not much. Unless you have a controlling interest in the company. If at least 5...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a startup can always issue new shares, what value is there to stocks/options? ### Answer: Companies normally do not give you X% of shares, but in effect give you a fixed "N" number of shares. The "...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a startup can always issue new shares, what value is there to stocks/options? ### Answer: It's called "dilution". Usually it is done to attract more investors, and yes - the existing share holders ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If I own x% of company A, and A buys company B, do I own x% of B? ### Answer: No, thanks to the principle of corporate personhood. The legal entity (company C) is the owner and parent of the private ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If I own x% of company A, and A buys company B, do I own x% of B? ### Answer: Ok, so imagine I own x% of Facebook and Facebook buys WhatsApp, does this mean I own x% of WhatsApp? Yea definitely , yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it really possible to get rich in only a few years by investing? ### Answer: Yes, it's possible. However, it's not likely, at least not for most people. Earning a million is not that difficult, but...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it really possible to get rich in only a few years by investing? ### Answer: To get rich in a short time, it's more likely what you want to do is go into business. You could go into a non-investmen...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it really possible to get rich in only a few years by investing? ### Answer: You are probably right that using a traditional buy and hold strategy on common equities or funds is very unlikely to ge...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it really possible to get rich in only a few years by investing? ### Answer: 10 year US Treasury bonds are currently yielding 3.46%. If you're offered an investment that looks better than that, you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it really possible to get rich in only a few years by investing? ### Answer: Short answer: Not likely. Long answer: As a rule of thumb, over the long run if you are generating 20% compounded return...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When paying estimated quarterly taxes, can I prorate the amount based on the irregular payment due dates? ### Answer: Varying the amount to reflect income during the quarter is entirely legitimate -- ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When paying estimated quarterly taxes, can I prorate the amount based on the irregular payment due dates? ### Answer: You may want, or at least be thinking of, the annualized method described in Pub 5...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can banks deny that you've paid your loan? ### Answer: Maybe there's more to this story, because as written, your sister seems, well, a little irrational. Is it possible that the bank will try to chea...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can banks deny that you've paid your loan? ### Answer: Yes, if their record keeping is faulty or failed. It is best to keep all records of repayment. Incomplete records such as signing for a loan yet...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can banks deny that you've paid your loan? ### Answer: If the loan is for a car, or mortgage there is specific paperwork that is processed when the loan payments have been completed. For other types o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the folly with this stock selection strategy ### Answer: You are probably going to hate my answer, but... If there was an easy way to ID stocks like FB that were going to do what FB did, then t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why invest in becoming a landlord? ### Answer: why does it make sense financially to buy property and become a landlord? Because then your investment generates cash instead of just sitting idle. All t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why invest in becoming a landlord? ### Answer: The value of getting into the landlord business -- or any other business -- depends on circumstances at the time. How much will it cost you to buy the pr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why invest in becoming a landlord? ### Answer: with 150K € to invest to "become a landlord" you have several options: Pay for 100% of one property, and you then will make a significant percentage of t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why invest in becoming a landlord? ### Answer: There are at least three important aspectss missing from your equation. However they come with some uncertainty as one typically cannot tell the future p...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why invest in becoming a landlord? ### Answer: Let me add a few thoughts that have not been mentioned so far in the other answers. Note that for the decision of buying vs. renting a home i.e. for per...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why invest in becoming a landlord? ### Answer: As a landlord for 14 years with 10 properties, I can give a few pointers: be able and skilled enough to perform the majority of maintenance because this ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid cash for a car, but dealer wants to change price ### Answer: Let me get this straight. I would stand my ground. Your son negotiated in good faith. Either they messed up, or they are dishonest. Ei...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid cash for a car, but dealer wants to change price ### Answer: I had a similar situation when I was in college. The difference was that the dealer agreed to finance and the bank they used wanted a ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid cash for a car, but dealer wants to change price ### Answer: I'm sorry to hear you've made a mistake. Having read the contract of sale we signed, I do not see any remedy to your current situation...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid cash for a car, but dealer wants to change price ### Answer: The sales manager and/or finance manager applied a rebate that did not apply. It's their fault. They have internal accounts to handl...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid cash for a car, but dealer wants to change price ### Answer: I have one additional recommendation: if the dealer continues to press the issue, tell them that they need to drop it, or you will wri...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid cash for a car, but dealer wants to change price ### Answer: Don't take the car back! The dealership wants you to take it back to try and earn more money. Simply stated, the dealerships hate paid...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid cash for a car, but dealer wants to change price ### Answer: On the surface this sounds ridiculous, which makes me suspect that there might be something that the dealer intends to cling on to; ot...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid cash for a car, but dealer wants to change price ### Answer: I've been an F&I Manager at a new car dealership for over ten years, and I can tell you this with absolute certainty, your deal is fin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid cash for a car, but dealer wants to change price ### Answer: As others have said, if the dealer accepted payment and signed over ownership of the vehicle, that's a completed transaction. While th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid cash for a car, but dealer wants to change price ### Answer: Lets look at it this way. Your son bought the car and then 2 days later, he wants to change the price. Will the dealership let him do ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid cash for a car, but dealer wants to change price ### Answer: As mhoran_psprep and others have already said, it sounds like the sale is concluded and your son has no obligation to return the car o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid cash for a car, but dealer wants to change price ### Answer: Your son is in the right. But he broke the "unwritten" rules, which is why the car dealer is upset. Basically, cars are sold in the Un...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Paid cash for a car, but dealer wants to change price ### Answer: If the discount is only for financed car then their software application should have accepted the payment (electronic transfer ID) fro...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a Student Loan and does it allow you to cover a wide range of expenses relating to school? ### Answer: Student loan is a class of unsecured loan. The characteristics that define a student loa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a Student Loan and does it allow you to cover a wide range of expenses relating to school? ### Answer: Is a student loan a type of loan or just a generic name used to refer to a loan for someo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a Student Loan and does it allow you to cover a wide range of expenses relating to school? ### Answer: The short answer is that you can use student loans for living expenses. Joe provides a n...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a Student Loan and does it allow you to cover a wide range of expenses relating to school? ### Answer: Short answer: student loans are loans given to people that are currently enrolled in scho...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any instance where less leverage will get you a better return on a rental property? ### Answer: There are two obvious cases in which your return is lower with a heavily leveraged investment. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any instance where less leverage will get you a better return on a rental property? ### Answer: Leverage means you can make more investments with the same amount of money. In the case of ren...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any instance where less leverage will get you a better return on a rental property? ### Answer: More leverage means more risk. There is more upside. There is also more downside. If property p...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any instance where less leverage will get you a better return on a rental property? ### Answer: I would say that you should keep in mind one simple idea. Leverage was the principal reason fo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any instance where less leverage will get you a better return on a rental property? ### Answer: leverage amplifies gains and losses, when returns are positive leverage makes them more positiv...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any instance where less leverage will get you a better return on a rental property? ### Answer: QUICK ANSWER When it comes to fixed income assets, whether rental real estate or government bon...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any instance where less leverage will get you a better return on a rental property? ### Answer: If you are calculating simple ROI, the answer is straightforward math. See This Answer for som...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Owing state tax Interest and a result of living in Maryland and working in Virginia ### Answer: Ultimately, you are the one that is responsible for your tax filings and your payments (It's all linked ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Owing state tax Interest and a result of living in Maryland and working in Virginia ### Answer: The reciprocity agreement in the Washington DC area means that you only pay income taxes where you live,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it true that if I work 6 months per year, it is better than to work for 1 calendar year and take a break for 1 year? ### Answer: In many cases spanning across years will indeed be beneficial. Deduc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it true that if I work 6 months per year, it is better than to work for 1 calendar year and take a break for 1 year? ### Answer: Yes, if you can split your income up over multiple years it will be ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens if futures contract seller defaults? ### Answer: MD-Tech answered: The answer is in your question: derivatives are contracts so are enforced in the same way as any other contract. If the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Understanding the Nasdaq insider trading information ### Answer: Usually insiders are in a better position than you to understand their business, but that doesn't mean they will know the future with p...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Understanding the Nasdaq insider trading information ### Answer: Their argument is mostly nonsense. Take someone like Tim Cook, CEO of Apple. He has a not very large salary, and makes a lot more money...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Understanding the Nasdaq insider trading information ### Answer: Insiders are prevented from buying or selling shares except at certain periods right after information is disclosed publicly. But. Peop...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Withdrawing large sums of money ### Answer: This is determined by each banking institution. In general, if making the withdrawal in person, the limit is based on what you have in your account, but ma...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Connection between gambling and trading on stock/options/Forex markets ### Answer: For stocks, I would not see these as profiting at the expense of another individual. When you purchase/trade stocks,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Connection between gambling and trading on stock/options/Forex markets ### Answer: There is economic value added to the marketplace, by having many investors trading stocks. The stock market itself ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Connection between gambling and trading on stock/options/Forex markets ### Answer: There are moral distinctions that can be drawn between gambling and investing in stocks. First and I think most impor...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Connection between gambling and trading on stock/options/Forex markets ### Answer: I think that the answer by @jkuz is good. I'd add that the there's a mathematically precise difference: Gambling ga...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: The cost of cleaning the house that we rented far exceeds the security deposit. Should we bother? ### Answer: I am surprised at the amount of work this contract wants done. I'd question if it's even ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: As an employee, when is it inappropriate to request to see your young/startup company's financial statements? ### Answer: This is several questions wrapped together: How can I diplomatically see the c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: As an employee, when is it inappropriate to request to see your young/startup company's financial statements? ### Answer: I think you need to realize that regardless of whether they are "shady" or not...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: US Citizen Buying Rental Property in Canada ### Answer: You've asked a number of questions. I can answer a few. I've quoted your question before each answer. What are the ins and outs of a foreigner...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: For how long is a draft check valid, and where do the funds sit? ### Answer: To answer length validity and security implications of draft checks issued and negotiated within the United States, I am he...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: For how long is a draft check valid, and where do the funds sit? ### Answer: A bank check is drawn on the bank itself. You gave the bank the funds backing that check at the time you purchased it. You ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where to start with personal finance? ### Answer: First thing I'd say is don't start with investing. The foundation of solid finances is cash flow. Making more than you spend, reliably; knowing where ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where to start with personal finance? ### Answer: My reading list for someone just getting into personal finance would include the following I know it's a bunch but I'm trying to cover a few specific ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where to start with personal finance? ### Answer: This Stack Exchange site is a nice place to find answers and ask questions. Good start! Moving away from the recursive answer... Simply distilling per...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where to start with personal finance? ### Answer: First of all, make sure you have all your credit cards paid in full -the compounding interests on those can zero out returns on any of your private in...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where to start with personal finance? ### Answer: Personal finance is a fairly broad area. Which part might you be starting with? From the very basics, make sure you understand your current cashflow:...