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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is 401k as good as it sounds given the way it is taxed? ### Answer: When you are investing for 40 years, you will have taxable events before retirement. You'll need to pay tax along the way, which wi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is 401k as good as it sounds given the way it is taxed? ### Answer: when you contribute to a 401k, you get to invest pre-tax money. that means part of it (e.g. 25%) is money you would otherwise have t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is 401k as good as it sounds given the way it is taxed? ### Answer: If you put it in a normal account it is (1) taxed as ordinary income now and then (2) any growth is taxed again at the capital gains...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is 401k as good as it sounds given the way it is taxed? ### Answer: You raise a good point about the higher marginal rates for 401K but things will be different, in retirement, than they are for you n...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is 401k as good as it sounds given the way it is taxed? ### Answer: Don't forget inflation. With a Roth 401k (or IRA), you don't pay any taxes on inflationary or real gains. You pay taxes at the be...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is 401k as good as it sounds given the way it is taxed? ### Answer: Be sure to consider the difference between Roth 401K and standard 401K. The Roth 401K is taxed as income then put into your account....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is 401k as good as it sounds given the way it is taxed? ### Answer: This is an excellent topic as it impacts so many in so many different ways. Here are some thoughts on how the accounts are used whic...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is 401k as good as it sounds given the way it is taxed? ### Answer: If you pay 20% tax now and none later or if you pay no tax now and 20% later, it doesn't make a difference. Mathematically, it's th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can banks afford to offer credit card rewards? ### Answer: There are 3 entities in a credit card transaction; Typically when you swipe for 100, the merchant only gets around 97.5. The 2.5 is divid...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can banks afford to offer credit card rewards? ### Answer: One reason why some merchants in the US don't accept Discover is that the fee the store is charged is higher than the average. Generally ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can banks afford to offer credit card rewards? ### Answer: The banks don't have to pay for credit card rewards. The merchants end up footing the bill. The merchants that accept credit cards pay fr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can banks afford to offer credit card rewards? ### Answer: Michael Pryor's answer is accurate to the actual question asked. The current accepted answer from Dheer is not entirely true but roughly ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Will a credit card company close my account if I stop using it? ### Answer: Please realize that your issuer can close the account for any number of reasons. Inactivity is one, as having a credit line...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Will a credit card company close my account if I stop using it? ### Answer: There is no universal answer here. Some card issuers will. Some that will close the account will warn you first. For my "...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Will a credit card company close my account if I stop using it? ### Answer: The answer is maybe. I had a Chase card without a purchase in over 4 years get canceled out of the blue, without so much as ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Will a credit card company close my account if I stop using it? ### Answer: Assuming the question is "will they close it for inactivity (alone)".. the answer is "Nope" ... unequivocally. Update: < My ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Will a credit card company close my account if I stop using it? ### Answer: The workaround solution is to simply avoid having an exactly zero balance on your account. Thus for inactive credit cards th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to determine contractor hourly rate and employee salary equivalents? ### Answer: Here are a few points to consider: Taxes: As a consultant, you will be responsible for the employer portion of the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to determine contractor hourly rate and employee salary equivalents? ### Answer: Take $100,000 base salary, x 1.5 = $150,000 contractor salary, divide by 1,872 hours = $80/hr ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Has anyone heard of Peerstreet? ### Answer: (Disclosure - PeerStreet was at FinCon, a financial blogger conference I attended last month. I had the chance to briefly meet a couple people from this com...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How is Los Angeles property tax calculated if a 50% owner later buys out the other 50%? ### Answer: Can't vouch for LA, but property typically is taxed at either the appraised value, the most recent p...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How is Los Angeles property tax calculated if a 50% owner later buys out the other 50%? ### Answer: When property changes hands the sale prices may or may not be used to determine the appraised value ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are stocks only listed with one exchange in one place? ### Answer: Depends. The short answer is yes; HSBC, for instance, based in New York, is listed on both the LSE and NYSE. Toyota's listed on the T...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is a “convertible note”? ### Answer: Source, see if you have access to it Convertible notes are often used by angel investors who wish to fund businesses without establishing an explicit valuatio...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why was my Credit Limit Increase Denied? ### Answer: I think they gave you the answer: You haven't previously shown that you can run that particular card up to (near) its existing maximum and then pay...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why was my Credit Limit Increase Denied? ### Answer: The bottom line is that you are kind of a terrible customer for them. Granted you are far better than one that does not pay his bills, but you ar...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pay or not pay charged-off accounts for mortgage qualification ### Answer: Your post has some assumptions that are not, or may not be true. For one the assumption is that you have to wait 7 years afte...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Filing Taxes for Two Separate Jobs Being Worked at the Same Time? ### Answer: You file taxes as usual. W2 is a form given to you, you don't need to fill it. Similarly, 1099. Both report moneys paid to...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Filing Taxes for Two Separate Jobs Being Worked at the Same Time? ### Answer: Welcome to the wonderful but oft confusing world of self-employment. Your regular job will withhold income for you and giv...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When will the 2017 US Federal Tax forms be released? ### Answer: It's not quite as bad as the comments indicate. Form 1040ES has been available since January (and IME has been similarly for all past y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Clothing Store Credit Card Account closed but not deleted ### Answer: You have little chance of getting it deleted. I have the same situation, I closed mine in 2006, and the login still works. Keep th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Clothing Store Credit Card Account closed but not deleted ### Answer: They close accounts to render them inoperative. They never delete accounts because they want to retain the data to inform any fut...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Clothing Store Credit Card Account closed but not deleted ### Answer: If it is closed, you should be able to trust that it is closed permanently. What you still have is the online account. Imagine thi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Clothing Store Credit Card Account closed but not deleted ### Answer: There are three parties involved here: there's the store that issued you the card, then they have some bank that's actually handli...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Cashing a cheque on behalf of someone else ### Answer: It's possible to cash cheques by post. When I did this, it involved filling out a "paying-in slip" (I had a book of these provided by the bank) a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Cashing a cheque on behalf of someone else ### Answer: If the cheque is crossed (as almost all are these days), it can only be paid into an account in the name of the person it was written out to: it ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Cashing a cheque on behalf of someone else ### Answer: Anyone can walk into a bank, say "Hi, I'm a messenger, I have an endorsed check and a filled out deposit slip for Joe Blow who has an account her...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Cashing a cheque on behalf of someone else ### Answer: If the cheque is not crossed, then your friend can write "payable to [your name]" above his signature when he endorses it. If it is crossed, you'...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can i have NRE accounts without OCI card? ### Answer: No, you do not need an OCI card to continue to have an NRE or NRO account. You are now classified as a PIO -- Person of Indian Origin -- (and you ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Buying an investment property in Australia - what are the advantages and disadvantages of building a house vs buying an existing one? ### Answer: When buying investment properties there are different ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How should I go about creating an estate plan? ### Answer: Yes, an estate plan can be very important. Estate planning - typically attempts to eliminate uncertainties over the administration of a prob...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What things are important to consider when investing in one's company stock? ### Answer: I would pass on their deal if they will only match if you invest in their stock. Think about when/if the compa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What things are important to consider when investing in one's company stock? ### Answer: Does your job give you access to "confidential information", such that you can only buy or sell shares in the c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What things are important to consider when investing in one's company stock? ### Answer: It appears your company is offering roughly a 25% discount on its shares. I start there as a basis to give you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What things are important to consider when investing in one's company stock? ### Answer: Check how long you have to hold the stock after buying it. If you can sell reasonably soon and your company is ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What things are important to consider when investing in one's company stock? ### Answer: You really have asked two different questions here: I'm interested in putting away some money for my family The...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Credit balance on new credit card ### Answer: Things are generally fine. A credit balance is not a horrible thing. The argument against maintaining a credit balance is that you are essentially loan...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Credit balance on new credit card ### Answer: A Credit Balance means that you overpayed. That's nothing to worry about; it will just be used up by your next charges. Note that this can have two reason...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the future of 401(k) in terms of stability and reliability? ### Answer: My guess is that the point is that yields on bonds and cash equivalents is so low that inflation will cause the inflatio...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the future of 401(k) in terms of stability and reliability? ### Answer: The same author wrote in that article “they have a trillion? Really?” But that’s what happens when ten million dollars...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the future of 401(k) in terms of stability and reliability? ### Answer: Let's pretend that the author of that article is not selling anything and is trying to help you succeed in life. I have...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can you explain “time value of money” and “compound interest” and provide examples of each? ### Answer: I will just explain the time value of money in general, descriptive terms and save the math for ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can you explain “time value of money” and “compound interest” and provide examples of each? ### Answer: Time Value of Money - The simple calculation for this is FV = PV * (1+r)^N which reads The Futur...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can you explain “time value of money” and “compound interest” and provide examples of each? ### Answer: The fundamental concept of the time value of money is that money now is worth more than the same...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can you explain “time value of money” and “compound interest” and provide examples of each? ### Answer: Compound interest means that the interest in each time period is calculated taking into account ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can you explain “time value of money” and “compound interest” and provide examples of each? ### Answer: Here are some really excellent video tutorials on these topics: Introduction to Compound Interes...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can you explain “time value of money” and “compound interest” and provide examples of each? ### Answer: A real simple definition or analogy of present Value would be the "Principal" or "Loan Amount" b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would I ever need credit card if my debit card is issued by MasterCard/Visa? ### Answer: The credit card may have advantages in at least two cases: In some instances (at least in the US), a merchant w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would I ever need credit card if my debit card is issued by MasterCard/Visa? ### Answer: Need is a strong word. As far as merchants are concerned, if they accept, e.g., Visa credit, they will accept V...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would I ever need credit card if my debit card is issued by MasterCard/Visa? ### Answer: Car rental agencies typically accept only credit cards for the rental (you can pay at the end with debit, but t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would I ever need credit card if my debit card is issued by MasterCard/Visa? ### Answer: Possibly not relevant to the original asker, but in the UK another advantage of using a credit card is that whe...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would I ever need credit card if my debit card is issued by MasterCard/Visa? ### Answer: I was hoping to comment on the original question, but it looks to me like the asker lives in the EU, where cred...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would I ever need credit card if my debit card is issued by MasterCard/Visa? ### Answer: The question should be - do you need a debit card? Other than American Express I have to tell my other credit ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would I ever need credit card if my debit card is issued by MasterCard/Visa? ### Answer: Credit cards are often more fool proof, against over-drawing. Consider Bill has solid cash flow, but most of th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would I ever need credit card if my debit card is issued by MasterCard/Visa? ### Answer: If you are solvent enough, and organised enough to pay your credit card bill in full each month, then use the c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would I ever need credit card if my debit card is issued by MasterCard/Visa? ### Answer: In most cases, a debit card can be charged like a credit card so there is typically no strict need for a credit...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would I ever need credit card if my debit card is issued by MasterCard/Visa? ### Answer: I haven't had a credit card in fifteen years. I use nothing but my debit card. (I find the whole idea of credit...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would I ever need credit card if my debit card is issued by MasterCard/Visa? ### Answer: You ask about the difference between credit and debit, but that may be because you're missing something importa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would I ever need credit card if my debit card is issued by MasterCard/Visa? ### Answer: Skimmers are most likely at gas station pumps. If your debit card is compromised you are getting money taken o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Would I ever need credit card if my debit card is issued by MasterCard/Visa? ### Answer: My view is from the Netherlands, a EU country. Con: Credit cards are more risky. If someone finds your card, th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A debt collector will not allow me to pay a debt, what steps should I take? ### Answer: This may not apply in your particular situation, but I think it's important to mention: When a debt collector do...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A debt collector will not allow me to pay a debt, what steps should I take? ### Answer: What you are describing here is the opposite of a problem: You're trying to contact a debt-collector to pay them...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A debt collector will not allow me to pay a debt, what steps should I take? ### Answer: You say your primary goal is to clean up your credit report, and you're willing to spend some cash to do it. O...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A debt collector will not allow me to pay a debt, what steps should I take? ### Answer: This is somewhat unbelievable. I mean if you had a business of collecting debts, wouldn't you want to collect s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A debt collector will not allow me to pay a debt, what steps should I take? ### Answer: This doesn't seem to explain the odd behavior of the collector, but I wanted to point out that the debt collecto...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A debt collector will not allow me to pay a debt, what steps should I take? ### Answer: Send a well-documented payment to the original creditor. Do it in such a way that you would have the ability to...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what point do index funds become unreliable? ### Answer: A great deal of analysis on this question relies on misunderstandings of the market or noticing trends that happened at the same time but we...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what point do index funds become unreliable? ### Answer: The argument you are making here is similar to the problem I have with the stronger forms of the efficient market hypothesis. That is if th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what point do index funds become unreliable? ### Answer: As more actively managed funds are driven out of the market, the pricing of individual stocks should become less rational. I.e. more stocks ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what point do index funds become unreliable? ### Answer: private investors that don't have the time or expertise for active investment. This may be known as every private investor. An index fund e...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: At what point do index funds become unreliable? ### Answer: Private investors as mutual funds are a minority of the market. Institutional investors make up a substantial portion of the long term hold...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: Be very careful with this. When we tried this with furniture, they charged an "administrative" fee to setup t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: I think so. I am doing this with our furniture. It doesn't cost me any more money to pay right now than it w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: Debt creates risk. The more debt you take on, the higher your risk. What happens if you lose your job, miss ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: You should look at the opportunity cost for your money (i.e. what kind of return it could generate otherwise)....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: I think most people have already answered this one pretty well. (It's usually worth it, as long as you pay it...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: I have abused 0% interest programs time and time again, but only because my wife and I are assiduous about pay...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: You know what? Pay cash, but ask for a discount. And something fairly hefty. Don't be afraid to bargain. The d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: Pay cash. You have the cash to pay for it now, but God forbid something happen to you or your wife that requi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: I won't repeat what's already been said, but I agree that it's a good move to take advantage of the free finan...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: If you do it, be sure to read what you sign. They'll sign you up on some type of "credit insurance" and not te...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: I bought a Thinkpad in Dec 2007 using BillMeLater, which was working with IBM/Lenovo at that time. I was gett...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: Zero percent interest may sound great, but those deals often have extra margin built into the price to make up...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: I would never consider such an offer. As has already been mentioned, there are likely to be hidden costs and t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance a new home theater at 0% even though I have the cash for it? ### Answer: Read the fine print and you will be fine. The big caveat is that if you miss a payment for any reason, you wi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Trading : how to deal with crashes (small or big) ### Answer: caveat: remember that complex derivatives can be very bad for your wealth (even if you FULLY understand them). ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Trading : how to deal with crashes (small or big) ### Answer: You can buy out of the money put options that could minimize your losses (or even make you money) in the event of a huge crash. Put optio...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does freedom to provide services allow me contracting in Germany without paying taxes there (but in my home EU country)? ### Answer: Also within Germany the tax offices usually determine which tax off...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does freedom to provide services allow me contracting in Germany without paying taxes there (but in my home EU country)? ### Answer: You're free to provide services, but if you stay in one country for...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Starting with Stocks or Forex? ### Answer: Stick with stocks, if you are not well versed in forex you will get fleeced or in over your head quickly. The leverage can be too much for the uninitiated. ...