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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I earn $75K, have $30K in savings, no debt, rent from my parents who are losing their home. Should I buy a home now or save? ### Answer: House as investment is not a good idea. Besides the obvious cal...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I earn $75K, have $30K in savings, no debt, rent from my parents who are losing their home. Should I buy a home now or save? ### Answer: Plus, there's the feeling my parents want me to have a house in...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I earn $75K, have $30K in savings, no debt, rent from my parents who are losing their home. Should I buy a home now or save? ### Answer: Real Estate has historically been the most sound investment of ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I earn $75K, have $30K in savings, no debt, rent from my parents who are losing their home. Should I buy a home now or save? ### Answer: To be honest, if it's a home all of you share you should try an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I earn $75K, have $30K in savings, no debt, rent from my parents who are losing their home. Should I buy a home now or save? ### Answer: You earn $75,000 yearly and saved $30,000 while living at home,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens if I intentionally throw out a paycheck? ### Answer: How/when does my employer find out? Do they get a report from their bank stating that "check 1234 for $1212.12 paid to John Doe was ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens if I intentionally throw out a paycheck? ### Answer: In a nutshell, throwing your taxable income in the trash does not remove it from your taxable income; you still have to report in your...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: The Purpose of Change Machines ### Answer: I think you're talking about two types of machines, at least in the United States. The term change machine usually refers to a machine that accepts large d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: Credit cards are great. You get free money for 30+ days and a bunch of additional benefits like insurance, extended warranties and reward programs. When vendor...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: Try to buy an airline ticket, rent a hotel room, or rent a car without a credit card. Doable? Perhaps. Easy? Nope. With a debit card, you run the risk of a hot...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: There are numerous reasons that go beyond the immediate requirement for access to credit. Many people just plain don't like carrying cash. Before electronic d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: You don't need a credit card anymore than you need a TV or a car. There might be many circumstances where a credit card is a convenience, there might be thing...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: People have credit cards for various reasons depending upon their personal situation and uses You don't need to have a Credit Card if you don't have a reason ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: A credit card can be a long running line of credit that will help to boost your FICO score. However if you have student loans, a mortgage, or car payments tho...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: You don't need credit cards but there are few benefits, if you pay them off right away I assume you do have a debit card, since sometimes (like unattended gas ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: No you do not need a credit card. They are convenient to have sometimes. But you do not "need" one. I know people who only have one for use when they travel...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: I can't answer the question if you should or shouldn't get a credit card; after all, you seem to manage fine without one (which is good). I started using credi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: If you are in the U.S., without credit cards, you probably don't have a credit history. Without a credit history, you won't be able to get a loan/mortgage, and...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: Eventually you are going to need some sort of real credit history. It is possible that you will be able to evade this if you never buy a house, or if you pay ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: Like many things, there are pros and cons to using credit cards. The other folks on here have discussed the pros and length, so I'll just quickly summarize: Co...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: Credits are expensive, so it's a great advantage to pay in cash. Obviously, it's even more an advantage to pay in cash for a house or a car, of course if you c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I even need credit cards? ### Answer: The key part of your question is the "so far". So you didn't need a credit card today, or yesterday, or last month - great! But what about tomorrow? The tim...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I accept shares as payment? ### Answer: For one, the startup doesn't exist yet, so until March I will get nothing on hand, though I have enough reserves to bridge that time. I would not take th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I accept shares as payment? ### Answer: I like the answer given by mikeazo. If paid in cash would you immediately buy the stock of the company? We all want to be the next Steve Jobs (or Woz), b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should you always max out contributions to your 401k? ### Answer: To be clear, a 401K is a vehicle, you make investments WITHIN it, if you choose poorly such as say putting all your money into company...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should you always max out contributions to your 401k? ### Answer: I think better advice would be always max out your 401K at least to the level that the company provides a match. For example, my compa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should you always max out contributions to your 401k? ### Answer: A terrific resource is this article. To summarize the points given: PROS: CONS: There is no generic yes or no answer as to whether you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should you always max out contributions to your 401k? ### Answer: As long as you're in a lower tax bracket - you would probably be better off paying the taxes now, and investing into the Roth IRA/401K...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should you always max out contributions to your 401k? ### Answer: The compound interest argument is a good one. While you are young, it is important to save, since time is on your side for compoundin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should you always max out contributions to your 401k? ### Answer: First, the limit this year is $16,500, $22,000 for age 50 or older. Next, does the company give you any match? If so, how much? Some w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should you always max out contributions to your 401k? ### Answer: Rule of thumb: Invest in a tax deferred account only if your marginal tax rate is higher now than it will be in retirement. If you pla...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should you always max out contributions to your 401k? ### Answer: My observations is that this seems like hardly enough to kill inflation. Is he right? Or are there better ways to invest? The tax de...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should you always max out contributions to your 401k? ### Answer: While tax deferral is a nice feature, the 401k is not the Holy Grail. I've seen plenty of 401k's where the investment options are hor...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should you always max out contributions to your 401k? ### Answer: Definitely not. You are too young. Let me explain: Your money will be locked up for at least 40 years, and you will have to navigate...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I find the current price to rent ratio of the locality of my interest? ### Answer: Chris, this is an arbitrage question with a twist: you cannot treat the location you want to live objective...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it a gift or not? ### Answer: There are a few things that this question prompts - ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it a gift or not? ### Answer: Part of 'consideration', I imagine, would be the obligation of either party to follow through on an agreement, not only fair market value. Look at the thought experime...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it a gift or not? ### Answer: The IRS definition of gift you quoted has "full consideration ... received in return". If your friend's help is not contingent upon your monetary offer (as is the case...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Wife sent to collections for ticket she paid ten years ago ### Answer: The first thing you should do is write a letter to the collection company telling them that you dispute all charges and demand, p...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Wife sent to collections for ticket she paid ten years ago ### Answer: I had this happen to me with parking ticket when I was still in school. The tickets were issued by the school police and later d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Any reason to be cautious of giving personal info to corporate fraud departments? ### Answer: I can't address the psychology of trust involved in your question, but here are some common sense guidelin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How Do I Fix Excess Contribution Withdrawl ### Answer: You didn't have a situation of "excess contribution". If you have proof that someone in Fidelity actually told you what you said, you might try t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How Do I Fix Excess Contribution Withdrawl ### Answer: I think there are several issues here. First, there's the contribution. As littleadv said, there is no excess contribution. Excess contribution i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I build up my credit history when I have nearly none ### Answer: You're going to have a huge problem getting approved for anything as long as you have an unpaid bill on your report. Pay it and...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I build up my credit history when I have nearly none ### Answer: What's the fastest way I can raise my credit score from nothing? I worked at a bank for almost 6 years and used their secured c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Rental Application Fees ### Answer: Slightly abbreviated version of the guidance from NOLO.com California state law limits credit check or application screening fees landlords can charge prospective ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: My bank often blocks my card during purchases - what is the most reliable bank card? (UK) ### Answer: This question is likely to be closed as a product recommendation request. But if you are willing t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: My bank often blocks my card during purchases - what is the most reliable bank card? (UK) ### Answer: Having worked in the financial industry, I can say 9:10 times a card is blocked, it is not actuall...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: My bank often blocks my card during purchases - what is the most reliable bank card? (UK) ### Answer: I have had my card blocked at home only rarely. One occasion comes to mind - I had bought somethin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Shorting Stocks And Margin Account Minimum ### Answer: First, you are not exactly "giving" the brokerage $2000. That money is the margin requirement to protect them in the case the stock price rises. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Shorting Stocks And Margin Account Minimum ### Answer: The margin money you put up to fund a short position ($6000 in the example given) is simply a "good faith" deposit that is required by the broker...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Shorting Stocks And Margin Account Minimum ### Answer: And what exactly do I profit from the short? I understand it is the difference in the value of the stock. So if my initial investment was $4000 (...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What does “balance sheet banks” mean in this context? ### Answer: The balance sheet for a bank is the list of assets and liabilities that the bank directly is responsible for. This would be things li...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: ~$75k in savings - Pay off house before new home? ### Answer: Congratulations on saving up $75,000. That requires discipline and tenacity. There are a lot of factors that would go into making your d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: ~$75k in savings - Pay off house before new home? ### Answer: As others have said, congratulations on saving up 75K in cash while seemingly not neglecting other areas of personal finance. Considering...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: ~$75k in savings - Pay off house before new home? ### Answer: With an annual income of $120,000 you can be approved for a $2800 monthly payment on your mortgage. The trickier problem is that you will ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: For a car, what scams can be plotted with 0% financing vs rebate? ### Answer: The car deal makes money 3 ways. If you pay in one lump payment. If the payment is greater than what they paid for the car...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: For a car, what scams can be plotted with 0% financing vs rebate? ### Answer: Here's a number-crunching example of how the "Zero interest rate" offer is misleading. Suppose the offer is that a car "co...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Dividend vs Growth Stocks for young investors ### Answer: The key is to look at total return, that is dividend yields plus capital growth. Some stocks have yields of 5%-7%, and no growth. In that case...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Dividend vs Growth Stocks for young investors ### Answer: First, what Daniel Carson said. Second, if you're getting started, just make sure you are well diversified. Lots of growth stocks turn into d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Dividend vs Growth Stocks for young investors ### Answer: A lot of people use dividend stocks as a regular income, which is why dividend stocks are often associated with retirement. If your goal is gr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Dividend vs Growth Stocks for young investors ### Answer: In financial theory, there is no reason for a difference in investor return to exist between dividend paying and non-dividend paying stocks, e...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a Discount Called in the Context of a Negative Interest Rate? ### Answer: Even though the article doesn't actually use the word "discount", I think the corresponding word you are looking for i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a Discount Called in the Context of a Negative Interest Rate? ### Answer: Negative Yields on Bonds is opposite of Getting profit on your investment. This is some kind of new practice from worl...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buy car vs lease vs long term rent for 10 years period ### Answer: If you plan to keep this asset for ten years then you can take the deprecation of its cost over that time period. For simplicity lets...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buy car vs lease vs long term rent for 10 years period ### Answer: This question has been asked and answered before. Financially, owning a car will be more economical than leasing one in most cases. T...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I protect myself from a scam if I want to help a relative? ### Answer: For some reason can't transfer it directly to his account overseas (something to do with security codes, authorized payees...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I protect myself from a scam if I want to help a relative? ### Answer: What can I do to help him out, but at the same time protect myself from any potential scams? Find out why he can't do this...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I protect myself from a scam if I want to help a relative? ### Answer: Let's summarize your relative's problem: How is this possible? If both of those statements are true, then he should be abl...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I protect myself from a scam if I want to help a relative? ### Answer: Since you mentioned that it is your close relative, he has never done enything dodgy and is wise with his money, then I wo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I protect myself from a scam if I want to help a relative? ### Answer: Mostly ditto to @grade'eh'bacon, but let me add a couple of comments: Before I did anything, I'd find out more about what'...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I do with $4,000 cash and High Interest Debt? ### Answer: Every $1,000 you use to pay off a 26% interest rate card saves you $260 / year. Every $1,000 you use to pay off a 23% interest ra...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I do with $4,000 cash and High Interest Debt? ### Answer: If it were me, I would pay off the 23%er. That is as long as you don't borrow anymore. Please consider "your hair on fire" and g...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I do with $4,000 cash and High Interest Debt? ### Answer: The difference in interest is not a huge factor in your decision. It's about $2 per month. Personally I would go ahead and knoc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I do with $4,000 cash and High Interest Debt? ### Answer: With all due respect to The David, the $1000 is best put against 20%+ debt, no sitting in checking as part of some emergency fund....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I do with $4,000 cash and High Interest Debt? ### Answer: I see some merit in the other answers, which are all based on the snowball method. However, I would like to present an alternative...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I do with $4,000 cash and High Interest Debt? ### Answer: If your credit is good, you should immediately attempt to refinance your high rate credit cards by transferring the balance to cre...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I do with $4,000 cash and High Interest Debt? ### Answer: When paying off multiple debts there is a protocol that many support. Payoff your debts according to the snowball method. The snow...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I do with $4,000 cash and High Interest Debt? ### Answer: Patti - I realize, of course, that you pose an either/or question. It seems the question closes the door on other potential soluti...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I do with $4,000 cash and High Interest Debt? ### Answer: I'm going to suggest a slightly different approach. Most answers seem to suggest paying off the lower rate card to clear it. Some ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I do with $4,000 cash and High Interest Debt? ### Answer: This is the kind of scenario addressed by Reddit's /r/personalfinance Prime Directive, or "I have $X, what should I do with it?" I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I do with $4,000 cash and High Interest Debt? ### Answer: If we're including psychological considerations, then the question becomes much more complicated: will having a higher available c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I do with $4,000 cash and High Interest Debt? ### Answer: I like the answers others gave, if it's some substantial debt you definitely could go the bankruptcy route but it damages your fut...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to check the paypal's current exchange rate? ### Answer: PayPal does charge a premium, both for sending and receiving. Here's how you find their rates: ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to check the paypal's current exchange rate? ### Answer: The Paypal 'classic' site option has now been removed and you will not know what you will be charged UNTIL YOU COMMIT TO BUY. Paypal told ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to check the paypal's current exchange rate? ### Answer: fx-rate.net offers a AUDUSD exchange rate comparison, which includes paypal: Currencyfair $1.14 Transferwise $ 2.29 Worldremit $ 3.5...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to check the paypal's current exchange rate? ### Answer: FYI, just found this (https://www.paypal.com/webapps/mpp/ua/useragreement-full#8) "8.9 Currency Conversion Currency Conversion 2.5% added t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to check the paypal's current exchange rate? ### Answer: I cannot speak for Paypal specifically and I doubt anyone who doesn't actually work on their internal automated payment systems could. Howe...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to check the paypal's current exchange rate? ### Answer: There is a way I discovered of finding the current exchange rate before committing to buy, go to send payments, put in your own second emai...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to check the paypal's current exchange rate? ### Answer: Whenever you pay or withdraw some fund from your account, paypal takes approx 3% of the current currency value along with the fees. i.e. If...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Want to buy a car but have not enough money ### Answer: When your dream car is not just 200 times your disposable income but in fact 200 times your whole monthly salary, then there is no way for you ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What percent of my salary should I save? ### Answer: I am pretty sure you could find a number of financial planners whom you could pay to give you a very accurate number, but the rule of thumb I like ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What percent of my salary should I save? ### Answer: I disagree with the selected answer. There's no one rule of thumb and certainly not simple ones like "20 cents of every dollar if you're 35". You'v...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What percent of my salary should I save? ### Answer: A single percentage figure makes little sense here as you are asking for a bunch of different things: ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What percent of my salary should I save? ### Answer: What percent of my salary should I save? is tightly coupled with its companion, What size “nest egg” should my husband and I have, and by what age?...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What percent of my salary should I save? ### Answer: Its been years since I lived there, but I found Seattle to be pretty expensive. Housing costs seem out of line with expected salaries. Coming fro...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens to my savings if my country defaults or restructures its debt? ### Answer: In theory, anything can happen, and the world could end tomorrow. However, with a reasonably sane financial pla...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens to my savings if my country defaults or restructures its debt? ### Answer: The biggest risk you have when a country defaults on its currency is a major devaluation of the currency. Since ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens to my savings if my country defaults or restructures its debt? ### Answer: The danger to your savings depends on how much sovereign debt your bank is holding. If the government defaults ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens to my savings if my country defaults or restructures its debt? ### Answer: First question: Any, probably all, of the above. Second question: The risk is that the currency will become wo...