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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: This question is different because you are asking for actual advice vs. a more academic, "what if" scenario. The...
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: My 0,02€ - I probably live in the same country as you. Stop worrying. The Euro zone has a 100.000€ guaranty depo...
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: Best thing to do is convert your money into something that will retain value. Currency is a symbol of wealth, an...
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: I am going to add in an opinion here from the Wall Street Journal that I read this morning in What's at Stake in...
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: Remove your money. If you do not need this money for some time, you can convert it to Gold, and now is a good t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Ensuring payment from client ### Answer: Use some form of escrow agent: Some freelancer sites provide payment escrow services (e.g. E-Lance). In this system the client puts money in escrow for the pro...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Ensuring payment from client ### Answer: You should absolutely have a contract between you and your client stipulating the quid-pro-quos of the arrangement. They get the product, you get the money. Fi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Explanations on credit cards in Canada ### Answer: A credit card is a way to borrow money. That's all. Sometimes the loans are very small - $5 - and sometimes they are larger. You can have a credit ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Explanations on credit cards in Canada ### Answer: Is my understanding okay ? If so, it seems to me that this system is rather error prone. By that I mean I could easily forget to make a wire some...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Explanations on credit cards in Canada ### Answer: If so, it seems to me that this system is rather error prone. By that I mean I could easily forget to make a wire some day and be charged interests w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Explanations on credit cards in Canada ### Answer: I think it's worth pointing out explicitly that the biggest difference between a credit card (US/Canada) and a debit card (like your French carte de ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need to start a 529 plan for each child (2 separate plans), or can I just open one 529 plan and let both children use it? ### Answer: Create one account. You can change the beneficiary of the p...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do I need to start a 529 plan for each child (2 separate plans), or can I just open one 529 plan and let both children use it? ### Answer: MrChrister makes some good points, but I saw his invitation t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Yahoo Finance not showing detailed information for foreign stocks ### Answer: The cause of incomplete/inaccurate financial data's appearing on free sites is that it is both complicated and expensive t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Simplifying money management ### Answer: Track your spending and expected income -- on paper, or with a personal-finance program. If you know how much is committed, you know how much is available. Tri...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Simplifying money management ### Answer: Many banks will allow you to open multiple accounts. Create a secondary checking account that has no automatic withdrawals and doesn't allow overdraft. This ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Simplifying money management ### Answer: Personally, I have a little checkbook program that I use to keep track of my spending and balance. Like you -- and I presume like most people -- I have certain...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to respond to a customer's demand for payment extension? ### Answer: In the event that payment is not made by the due date on the invoice then the transaction is essentially null and void and you ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Retirement formula for annual compound interest with changing principal ### Answer: The equation is the same one used for mortgage amortization. You first want to calculate the PV (present value) for...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Retirement formula for annual compound interest with changing principal ### Answer: I've found the systems that seem to work. Firstly, you need to find how much money is required to pay for the withdr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a typical investment portfolio made up of? ### Answer: Most people carry a diversity of stock, bond, and commodities in their portfolio. The ratio and types of these investments should be bas...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a typical investment portfolio made up of? ### Answer: Paying off the high-interest debt is a good first start. Paying interest, or compound interest on debt is like paying somebody to make yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a typical investment portfolio made up of? ### Answer: An investment portfolio is typically divided into three components: All three of those can be accessed through mutual funds or ETFs. A 40...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a typical investment portfolio made up of? ### Answer: Don't over think about your choices. The most important thing to start now and keep adjusting and tuning your portfolio as you move along...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I Use an Investment Professional? ### Answer: People ... are nearly twice as likely to ... feel confident Great, confidence is amazing. That and $5 will buy you a cup of coffee. 44% [who hired ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I Use an Investment Professional? ### Answer: Let me start with something you might dismiss as trite - Correlation does not mean Causation. A money manager charging say, 1%, isn't likely to ta...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I Use an Investment Professional? ### Answer: Ask yourself the same question for furniture making. Would you feel more comfortable sitting in a chair that you made yourself versus one that you ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I Use an Investment Professional? ### Answer: I am sure there would be many views on the above topic, my take is that DIY takes the following: Now, for many, one or more of the other factors ar...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I Use an Investment Professional? ### Answer: Even if we accept these claims as being true, neither the fact that their clients are more confident, nor the fact that people who use an investmen...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I Use an Investment Professional? ### Answer: Agree with the above poster regarding causation vs. correlation. Unless you can separate out the variables questions like this are somewhat impossi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I Use an Investment Professional? ### Answer: Yes. The investment world is extremely fast-paced and competitive. There are loads of professional traders with supercomputers working day in and ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What exactly happens during a settlement period? ### Answer: Securities clearing and settlement is a complex topic - you can start by browsing relevant Wikipedia articles, and (given sufficient quanti...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What exactly happens during a settlement period? ### Answer: During the settlement period, the buyer transfers payment to the seller and the seller transfers ownership to the buyer. This is really a h...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is property investment good if properties de-valuate over time? ### Answer: When you buy a property the house or the building goes down in value every year (it gets depreciated) similar to when yo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is property investment good if properties de-valuate over time? ### Answer: As some others have pointed out, it's key to remember the difference in market value and accounting value. To simplify ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is property investment good if properties de-valuate over time? ### Answer: One reason for this is that many people don't simply allow their houses to rot and decay. If you're talking about a hous...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is property investment good if properties de-valuate over time? ### Answer: It's all about the land value. The structure is only ever worth as much as it would cost to build a new one (minus demol...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is property investment good if properties de-valuate over time? ### Answer: Some of the other answers mention this, but I want to highlight it with a personal anecdote. I have a property in a mid-...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is property investment good if properties de-valuate over time? ### Answer: I just read this: Housing and inflation Adjusted for inflation the price of a house has increased a miniscule amount. A...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is property investment good if properties de-valuate over time? ### Answer: There are many different reasons to buy property and it's important to make a distinction between commercial and residen...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is property investment good if properties de-valuate over time? ### Answer: Properties do in fact devaluate every year for several reasons. One of the reasons is that an old property is not the st...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is property investment good if properties de-valuate over time? ### Answer: nan ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is property investment good if properties de-valuate over time? ### Answer: Real estate is not a good investment. In fact, it's easy to make a case for it being the worst possible investment imag...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I be doing to protect myself from identity theft? ### Answer: Here are a handful of measures I take myself: I check my credit reports once in a while and look for anything out of the ordin...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I be doing to protect myself from identity theft? ### Answer: http://annualcreditreport.com gives you free access to your 3 credit bureau records. (Annual, not "free". The "free" guys will...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I be doing to protect myself from identity theft? ### Answer: Every 90 days add an Initial Fraud Alert to each of the 3 major credit bureaus. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I be doing to protect myself from identity theft? ### Answer: I've received letters notifying me of data breaches in the past. In the end, I've never signed up for the offered protection ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What should I be doing to protect myself from identity theft? ### Answer: I believe the answer is that to protect yourself it is good to get credit protection so you will be notified when new credit i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I purchase a whole life insurance policy? (I am close to retirement) ### Answer: First of all, congratulations on being in an incredible financial position. you have done well. So let's look a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I purchase a whole life insurance policy? (I am close to retirement) ### Answer: I'll start by saying that if this is being explored to scratch a specific itch you have then great, if this was ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I purchase a whole life insurance policy? (I am close to retirement) ### Answer: There's nothing new about Whole Life Insurance. The agent stands to earn a pretty hefty commission if he can sel...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I purchase a whole life insurance policy? (I am close to retirement) ### Answer: Disclaimer: I work in life insurance, but I am not an agent. First things first, there is not enough informati...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Value of credit score if you never plan to borrow again? ### Answer: In the United States, the Fair Credit Reporting Act allows companies to buy your credit information for "legitimate business needs....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Value of credit score if you never plan to borrow again? ### Answer: what are the incentives to that person to actually pay off his/her debt as opposed to just walking away from it and relying on the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Value of credit score if you never plan to borrow again? ### Answer: If you're wealthy why do you think they wouldn't sue you for the money you owed?? And, as sunk818 says, credit scores can influence...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Value of credit score if you never plan to borrow again? ### Answer: Only reason I can think of is that having a credit card, or several, is handy for buying stuff on-line, or not having to haul aroun...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Value of credit score if you never plan to borrow again? ### Answer: According to Money Girl, home insurance premiums are higher if you have a poor credit score. You might self-insure though if you ar...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Value of credit score if you never plan to borrow again? ### Answer: There's many concrete answers, but there's something circular about your question. The only thing I can think of is that phone serv...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Value of credit score if you never plan to borrow again? ### Answer: You're definitely not the first to pose this question. During the peak of the housing crisis I noticed a decent amount of very hig...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Best way to buy Japanese yen for travel? ### Answer: Unless you need extremely large sums of money, I suggest you use an ATM or look for a credit card that has no foreign transaction fees (rare). AFAI...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Best way to buy Japanese yen for travel? ### Answer: You don't. When you get to Japan, use your ATM card to withdraw local currency. My bank (ETrade) doesn't charge me int'l fees. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Best way to buy Japanese yen for travel? ### Answer: Have you tried calling a Forex broker and asking them if you can take delivery on currency? Their spreads are likely to be much lower than banks/...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Best way to buy Japanese yen for travel? ### Answer: Check whether you're being charged a "Cash advance" fee with your withdrawals, because it's being withdrawn from your credit card account. If that'...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Best way to buy Japanese yen for travel? ### Answer: When I went on vacation to London a few years ago, I looked around at banks with ATM deals with UK banks. I found that B of A had a deal with a UK ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Best way to buy Japanese yen for travel? ### Answer: I already commented the best existing answers, however let me note a couple of other things. Some of my friends in the past have wanted to do one ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: For SSI, is “authorized user” status on a bank account the same as “ownership”? ### Answer: Having dealt with with Social Security, state agencies, and banks more than I'd care to, I would urge you to...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Insurance company sent me huge check instead of pharmacy. Now what? ### Answer: The insurance company issued the check. I'd contact the insurance company to have the current check voided and a new on...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Insurance company sent me huge check instead of pharmacy. Now what? ### Answer: Checks are awesome things in that, even if it gets lost the money doesn't change hands until the check is cashed. I woul...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Insurance company sent me huge check instead of pharmacy. Now what? ### Answer: Option 4: Go talk with someone in person at an office of the Insurance company. They have helped me several times with t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Insurance company sent me huge check instead of pharmacy. Now what? ### Answer: So: What you do: ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Insurance company sent me huge check instead of pharmacy. Now what? ### Answer: Deposit check and send a personal check (resulting in tax and IRS reporting issues) That's a bad idea, unless maybe the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Insurance company sent me huge check instead of pharmacy. Now what? ### Answer: In one of your comments you say: Even if the pharmacy is not in the insurance provider network? This is why you got the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Insurance company sent me huge check instead of pharmacy. Now what? ### Answer: You mentioned depositing the check and then sending a personal check. Be sure to account for time, since any deposit ove...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Insurance company sent me huge check instead of pharmacy. Now what? ### Answer: nan ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Insurance company sent me huge check instead of pharmacy. Now what? ### Answer: This is not a mistake. This is done for "Out of Network" providers, and mainly when the patient is an Anthem member, be ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much of my home loan is coming from a bank, how much it goes back? ### Answer: Judging from your comments, you seem to be confused about the way banking works. Banks can only lend out money that...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much of my home loan is coming from a bank, how much it goes back? ### Answer: When you get a loan (car, home, student) the lending company (bank) give the (auto dealer, previous home owner, scho...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How much of my home loan is coming from a bank, how much it goes back? ### Answer: Ditto mhoran_psprep. I'm not quite sure what you're asking. Where does the money come from? When someone starts a b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the rough estimate of salary value for a taxpayer to pay AMT? ### Answer: Alternative Minimum Tax is based not just on your income, but moreso on the deductions you use. In short, if you have ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the rough estimate of salary value for a taxpayer to pay AMT? ### Answer: Turbox Tax states the following: "For 2015, the AMT exemption amounts are $53,600 for individual taxpayers, $83,400 f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are there any statistics that support the need for Title Insurance? ### Answer: There seems to be no such information available. What is available is that number of claims are high and the Title Insur...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are there any statistics that support the need for Title Insurance? ### Answer: The point of title insurance is that when you buy a house, it is possible that you may eventually find out that the sell...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are there any statistics that support the need for Title Insurance? ### Answer: I'm really surprised at the answers here. Claims/year per region isn't a statistic that is meaningful here... you need t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are there any statistics that support the need for Title Insurance? ### Answer: When I bought the house I had my lawyer educate me about everything on the forms that seemed at all unclear, since this ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would it make sense to take a loan from a relative to pay off student loans? ### Answer: My biggest concern with this plan is that there's no going back should you decide that it is not going to work,...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would it make sense to take a loan from a relative to pay off student loans? ### Answer: Personally, I avoid making business deals with friends and relatives. There's just too much of a possibility th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would it make sense to take a loan from a relative to pay off student loans? ### Answer: I struggle to see the value to this risk from the standpoint of your mother-in-law. This is not a small amount...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would it make sense to take a loan from a relative to pay off student loans? ### Answer: I will start with the assumption that you will never have any late payments and will fully pay off the loan. Th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would it make sense to take a loan from a relative to pay off student loans? ### Answer: I have recently been the lender to a couple people. It was substantially less money (~$3k), but I was trusting ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would it make sense to take a loan from a relative to pay off student loans? ### Answer: Would it make sense to take a loan from a relative... Other people have pointed this out, but honestly, I'd be ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would it make sense to take a loan from a relative to pay off student loans? ### Answer: The interest that you are proposing to pay your MIL is actually quite low compared to even extremely conservati...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: My medical bill went to a collection agency. Can I pay it directly to the hospital? ### Answer: Short Answer Collections agencies and the businesses they collect for are two different animals. If you ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to work around the Owner Occupancy Affidavit to buy another home in less than a year? ### Answer: Danger. The affidavit is a legal document. Understand the risk of getting caught. If you are plann...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to work around the Owner Occupancy Affidavit to buy another home in less than a year? ### Answer: Although it may be a little late for you, the real answer is this: When you close on a mortgage f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to work around the Owner Occupancy Affidavit to buy another home in less than a year? ### Answer: In your particular condition could buy the condo with cash, then get your mortgage on your next ho...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to work around the Owner Occupancy Affidavit to buy another home in less than a year? ### Answer: Look into the definition of "primary residence" for your jurisdiction(s). In some states, living i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I buy a new house before selling my current house? ### Answer: You can make a contingent offer: "I will buy this house if I sell my own." In a highly competitive environment, contingent offers te...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I buy a new house before selling my current house? ### Answer: The two most common scenarios are: Since you have more control of timing when you are the buyer compared to when you are the seller, ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I buy a new house before selling my current house? ### Answer: A bridge loan (or bridging loan) is designed for exactly this circumstance. They're short-term loans (6 months is common) designed to...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I buy a new house before selling my current house? ### Answer: If you can qualify for two mortgages, this is certainly possible. For this you can talk to a banker. However, most people do not qua...