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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Exotic Car Flipping as a Strategic Investment? (US-CAN) ### Answer: You can greatly reduce the risk if you can line up a buyer prior to purchasing the car. That kind of thing is common in business, o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to protect your parents if they never paid Social Security? ### Answer: Wow. She really is in a pickle. Even though I can intellectualize that she ought have paid more attention to her family's fi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to protect your parents if they never paid Social Security? ### Answer: I'm not unsympathetic, but insurance of what kind? I don't know how he'd have owned a restaurant but failed to pay into the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to protect your parents if they never paid Social Security? ### Answer: I am unsympathetic. His mother made a conscious choice to evade taxes that would have provided her with at least a minimal ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a home or rent in my situation? ### Answer: If I were you, I would rent. Wait to buy a home. Here is why: When you say that renting is equal in cost to a 30-year mortgage, you are faili...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a home or rent in my situation? ### Answer: First, you are not a loser nor an idiot! You have avoided many debt mistakes and have a stable income. This move will be good for you and your ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a home or rent in my situation? ### Answer: My experience with owning a home is that its like putting down roots and can be like an anchor holding you to an area. Before considering whet...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a home or rent in my situation? ### Answer: You said 2 things that made me think you are one of the rare young couples barely making it but should attempt to buy rather than rent anyway.....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a home or rent in my situation? ### Answer: Another reason, and to me the main reason not to buy a house if you're in your early 20s (regardless of your income), is mobility. If you rent,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a home or rent in my situation? ### Answer: First, let me mention that the reasons mentioned this far for renting are excellent ones. But, I disagree. Second, I would like to mention that...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a home or rent in my situation? ### Answer: I think the consensus is that you can't afford a home now and need to build more of a down payment (20% is benchmark, you may also need to pay ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a home or rent in my situation? ### Answer: MY recommendation is simple. RENT The fact that you have to ask the question is a clear sign that you have no business buying a home. That's n...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Cheapest way to wire or withdraw money from US account while living in Europe ### Answer: I prefer to use a Foreign Exchange transfer service. You will get a good exchange rate (better than from Pay...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Cheapest way to wire or withdraw money from US account while living in Europe ### Answer: I use xoom.com to transfer money to India. I've been using them for over 2 years now, they are the fastest an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Cheapest way to wire or withdraw money from US account while living in Europe ### Answer: There is a number of cheaper online options that you could use. TranferWise was already mentioned here. Other...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Cheapest way to wire or withdraw money from US account while living in Europe ### Answer: Atm machine and my Credit Union account. Low fees (often zero, if the machine is on any of the same networks)...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is the amount taxable if my grandfather sells agricultural land ### Answer: As your is a very specific case, please get an advice of CA. It should not cost you much and make it easier. The sale of agr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Apartment Security Deposit refunds in Maryland ### Answer: In Maryland, a landlord must hold your security deposit in an escrow account and pay you interest when returning the deposit. The interest i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are the guaranteed returns of regulated utilities really what they sound like? ### Answer: Typically a private company is hit by demand supply issues and cost of inputs. In effect at times the cost of...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are the guaranteed returns of regulated utilities really what they sound like? ### Answer: No. That return on equity number is a target that the regulators consider when approving price hikes. If PG&E...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan ### Answer: Smart parents not wanting to get stuck with a student loan or co-signing on...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan ### Answer: My son is in a similar situation where he is 21 and in college. My wife and...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan ### Answer: I was in a similar (but not quite as bad situation) a couple years ago, and...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan ### Answer: If the 6 credits per semester working part time schedule includes no loans,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan ### Answer: I was in that same situation years ago with my parents. One way she could a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay off my car loan within the year? ### Answer: Personally, I don't think that the interest from the car loan is worth the credit history you're building through it. There are other ways to ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay off my car loan within the year? ### Answer: Something I'd like to plant firmly into your mind - If you're able to save up enough money to buy the things you want outright, credit will be...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay off my car loan within the year? ### Answer: Contrary to popular belief, you can build your credit (if that is important to you) without paying a penny in interest. This is done through ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay off my car loan within the year? ### Answer: Generally, banks will report your loan to at least one (if not all three) credit bureaus - although that is not required by law. The interest ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay off my car loan within the year? ### Answer: Your plan isn't bad, but it probably isn't worth the cost for the small amount of credit building it will achieve. If you do decide to continu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay off my car loan within the year? ### Answer: Typically the power of capitalized interest would work in your favor and you could carry the loan paying it down while investing the original ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay off my car loan within the year? ### Answer: Credit reports have line items that, if all is well, say "paid as agreed." A car loan almost certainly gets reported. In your case it probably...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay off my car loan within the year? ### Answer: Pay it off....I've only ever paid interest on mortgages to buy the houses I've lived in (I paid both mortgages of years ahead of schedule) & a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay off my car loan within the year? ### Answer: First, don't owe (much) money on a car that's out of warranty. If you have an engine blow up and repairs will cost the lion's share of the ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which practice to keep finances after getting married: joint, or separate? ### Answer: If you ask ten different couples what they do, depending on a variety of factors, you'll get anywhere between two...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which practice to keep finances after getting married: joint, or separate? ### Answer: Echoing Justkt, different approaches will work for different couples. It also depends on your background, life e...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which practice to keep finances after getting married: joint, or separate? ### Answer: I feel there are two types of answer: One: the financial. Suck all the emotion out of the situation, and treat th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which practice to keep finances after getting married: joint, or separate? ### Answer: We've had everything in one pot almost from day one of marriage. The key ingredients to making that arrangement w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which practice to keep finances after getting married: joint, or separate? ### Answer: My wife and I have a different arrangement. I like to track everything down to the transaction level. She doesn...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which practice to keep finances after getting married: joint, or separate? ### Answer: Here are the main ways of doing this that I've encountered. I've met advocates of each. You might be interested i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which practice to keep finances after getting married: joint, or separate? ### Answer: My wife and I maintain seperate accounts. We have the bills split between us so that certain bills are paid by on...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which practice to keep finances after getting married: joint, or separate? ### Answer: This particular topic has probably been beaten to death already. But from the other comments, it seems that spli...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which practice to keep finances after getting married: joint, or separate? ### Answer: I personally think that you should do whatever you believe works best. I am not married but when I get married I ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Avoiding Capital Gains Long Term ### Answer: Yes, you could avoid capital gains tax altogether, however, capital gains are used in determining your tax bracket even though they are not taxed at that r...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Avoiding Capital Gains Long Term ### Answer: It's correct. Be sure of your personal opportunity cost and not that you're letting the tax tail wag the dog just to score "tax free". Your upside is $3...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay cash or prefer a 0% interest loan for home furnishings? ### Answer: There are several issues with paying for furniture and appliances with 0% credit instead of paying with cash. When you ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay cash or prefer a 0% interest loan for home furnishings? ### Answer: Read the terms and conditions very carefully. Many zero percent deals have a requirement that you pay back at a certain...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay cash or prefer a 0% interest loan for home furnishings? ### Answer: If you can set up automatic payments (like direct debits in the UK) and you can be disciplined enough to not spend the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay cash or prefer a 0% interest loan for home furnishings? ### Answer: A friend recently bought an 800€ TV on 0% financing. Sounded like a sensible thing to do. Why pay 800 when you can pay ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay cash or prefer a 0% interest loan for home furnishings? ### Answer: If a shop offers 0% interest for purchase, someone is paying for it. e.g., If you buy a $X item at 0% interest for 12 m...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay cash or prefer a 0% interest loan for home furnishings? ### Answer: Two cases: You take the credit and reinvest the cash equivalent (be it a savings account or otherwise), yielding you th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay cash or prefer a 0% interest loan for home furnishings? ### Answer: Remember that due to inflation you are paying back the loan with cheaper dollars in the future. If there are no gimmic...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay cash or prefer a 0% interest loan for home furnishings? ### Answer: 0% furniture loans can hurt your credit rating. I was told by a bank mortgage officer (sorry I can't cite a document) t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay cash or prefer a 0% interest loan for home furnishings? ### Answer: There are lots of good points here already, but something that hasn't been mentioned yet is what would happen if the pu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the best asset allocation for a retirement portfolio, and why? ### Answer: You're right, the asset allocation is one fundamental thing you want to get right in your portfolio. I agree 110%. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the best asset allocation for a retirement portfolio, and why? ### Answer: This turned out be a lot longer than I expected. So, here's the overview. Despite the presence of asset allocation c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the best asset allocation for a retirement portfolio, and why? ### Answer: Aggressiveness in a retirement portfolio is usually a function of your age and your risk tolerance. Your portfolio is...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the best asset allocation for a retirement portfolio, and why? ### Answer: It's all about risk. These guidelines were all developed based on the risk characteristics of the various asset categ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the best asset allocation for a retirement portfolio, and why? ### Answer: The best asset allocation is one that lets you sleep well at night. Can you stomach a loss of 50% and hold on to that...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the best asset allocation for a retirement portfolio, and why? ### Answer: Take the easy approach - as suggested by John Bogle (founder of Vanguard - and a man worthy of tremendous respect). T...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Gigantic point amount on rewards card - what are potential consequences? ### Answer: I can't give you proper legal advice, but if I called their customer service and used half an hour of my time to wa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Gigantic point amount on rewards card - what are potential consequences? ### Answer: I would behave exactly as I would expect it from others. If you were the one giving away too many points by acciden...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Gigantic point amount on rewards card - what are potential consequences? ### Answer: If you want to maximize your expected benefits, at minimal risk of financial repercussions or sleepless nights, I w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Gigantic point amount on rewards card - what are potential consequences? ### Answer: Of course, as a 'good' person (or maybe a 'stupid' person), I should call them, (wait 30 minutes in the queue), and...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Gigantic point amount on rewards card - what are potential consequences? ### Answer: An ideal option for you would be to use as many or as few as you choose, but have all of them available to you. The...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Gigantic point amount on rewards card - what are potential consequences? ### Answer: First IANAL! This is going to depend on the kind of points. If it's an internal point system that the business is d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Gigantic point amount on rewards card - what are potential consequences? ### Answer: Most likely scenario (A): You spend tons of time and effort talking to them, with the end result that they take awa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Gigantic point amount on rewards card - what are potential consequences? ### Answer: What would be the consequences if they do realize their error some day in the far future? You've informed them of...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does an option lose time value faster as it approaches expiry ### Answer: If you think about it, the value of an option comes from the chance that the price at the expiration date can exceed the s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does an option lose time value faster as it approaches expiry ### Answer: This is because volatility is cumulative and with less time there is less cumulative volatility. The time value and option...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does an option lose time value faster as it approaches expiry ### Answer: NL7 is right and his B-S reference, a good one. Time decay happens to occur in a way that 2X the time gives an option 1....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does an option lose time value faster as it approaches expiry ### Answer: Don´t forget that changing volatility will have an impact on the time value too! So at times it can happen that your time ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does an option lose time value faster as it approaches expiry ### Answer: Not cumulative volatility. It's cumulative probability density. Time value isn't linear because PDFs (probability distribu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does an option lose time value faster as it approaches expiry ### Answer: Here's another attempt at explanation: it's basically because parabolas are flat at the bottom. Let me explain. As you mi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What would I miss out on by self insuring my car? ### Answer: Convenience, and of course money. In case of an event, you'll have to spend the full worth of money to fix/replace, while if you're insure...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What would I miss out on by self insuring my car? ### Answer: As you suspected, there is more than just car replacement taken care of by insurance (some of them are pointed out in Chad's story: ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What would I miss out on by self insuring my car? ### Answer: You lose your agent services. When my wife wrecked our car 3 years ago our agent took care of everything. He got us a rental car, made th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What would I miss out on by self insuring my car? ### Answer: You're trading a fixed liability for an unknown liability. When I graduated from college, I bought a nice used car. Two days later, a deer...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What would I miss out on by self insuring my car? ### Answer: If you can afford to replace your car, it is more cost effective, on average and over time, not to carry comprehensive and collision insur...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What would I miss out on by self insuring my car? ### Answer: One way to look at insurance is that it replaces an unpredictable expenses with a predictable fees. That is, you pay a set monthly amount ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What would I miss out on by self insuring my car? ### Answer: Here's what you do without, on the negative side, just for balance: A bill: When I last had comprehensive insurance, it cost something lik...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What would I miss out on by self insuring my car? ### Answer: Insurance is to mitigate risk you can't handle yourself. (All insurance, not just car insurance.) The expected value of the insurance wi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What would I miss out on by self insuring my car? ### Answer: As others have pointed out, it's all about a fixed, small cost versus the potential of a large cost. If you have insurance, you know you w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can Mutual Funds Invest In the Start Up Market? ### Answer: Bloomberg suggests that two Fidelity funds hold preferred shares of Snapchat Inc.. Preferred shares hold more in common with bonds than with...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: US tax for a resident NRI ### Answer: If you are tax-resident in the US, then you must report income from sources within and without the United States. Your foreign income generally must be reported ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: US tax for a resident NRI ### Answer: Please declare everything you earn in India as well as the total amount of assets (it's called FBAR). The penalties for not declaring is jail time no matter how s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to withdraw money from currency account without having to lose so much to currency conversion? ### Answer: If I understand your question, you're misunderstanding the buy/sell spread, and at least ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to withdraw money from currency account without having to lose so much to currency conversion? ### Answer: In answer to the "how I can perform withdrawal with the lower rate (having GBP)?" part of...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to withdraw money from currency account without having to lose so much to currency conversion? ### Answer: In your position I would use one of the existing Polish currency exchange platforms (you ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I get into investing? ### Answer: Don't do it until you have educated yourself enough to know what you are doing. I hope you won't take this personally, but given that you are wandering around ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How are stock buybacks not considered insider trading? ### Answer: In fact, buybacks WERE often considered a vehicle for insider trading, especially prior to 1982. For instance, Prior to the Reagan e...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How are stock buybacks not considered insider trading? ### Answer: In most countries there are specific guidelines on buy backs. It is never a case where by one fine morning company would buy its shar...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How are stock buybacks not considered insider trading? ### Answer: Companies already have to protect themselves against employees trading the company's shares with insider information. They typically ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How are stock buybacks not considered insider trading? ### Answer: Another way to look at this is that pure insider trading is an activity with the aim to use secret information to make personal profi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How are stock buybacks not considered insider trading? ### Answer: The reason that stock buybacks are not considered insider trading is because the offers are open to all on equal terms to everyone ou...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How are stock buybacks not considered insider trading? ### Answer: Buybacks do not increase the company's value. Cash is traded for outstanding shares. This is similar to a dividend, but instead of ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Co- Signed car loan and need to have the other signer relinquish claim to ownership ### Answer: The key here is the bank, they hold the title to the car and as such have the final say in things. The b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Co- Signed car loan and need to have the other signer relinquish claim to ownership ### Answer: Your arrangements with the bank are irrelevant. Whoever is named on the title of the vehicle owns it. If...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Cash flow implications of converting primary mortgaged residence to rental ### Answer: The rental income is indeed taxable income, but you reduce the taxable portion of it by deducting expenses (inclu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Cash flow implications of converting primary mortgaged residence to rental ### Answer: You are assuming 100% occupancy and 100% rent collection. This is unrealistic. You could get lucky and find tha...