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How does the envelope budgeting system work? |
Are insurance payouts taxable in Canada? |
You may be thinking about this the wrong way. The yield (Return) on your investment is effectively the market price paid to the investor for the amount of risk assumed for participating. Looking at the last few years, many including myself would have given their left arm for a so-called "meager return" instead of the d... |
Open an investment account on your own and have them roll the old 401K accounts into either a ROTH or traditional IRA. Do not leave them in old 401k accounts and definitely don't roll them into your new employer's 401K.
Why? Well, as great as 401K accounts are, there is one thing that employers rarely mention and th... |
There are three numbers that matter in that calculation:
1) How much do you expect per month from in pension/social security/or other retirement programs?
2) At what age will each of you retire?
3) How long will each of you live?
Unfortunately #3 is the most important of the three and the hardest to know ... |
Open an investment account on your own and have them roll the old 401K accounts into either a ROTH or traditional IRA. Do not leave them in old 401k accounts and definitely don't roll them into your new employer's 401K.
Why? Well, as great as 401K accounts are, there is one thing that employers rarely mention and th... |
I bought a car about 2 years ago on finance. The car was priced at £11k and I was very quick to jump at the chance rather than thinking.
Over the 5 month period I'm paying over £18k in total, thats £7k interest, which is over half the value of the initial loan
The monthly payments are OK, its £300 per month, I'm ... |
Paying off loans early, or is there some way to reduce extortionate interest charges? |
I bought a car about 2 years ago on finance. The car was priced at £11k and I was very quick to jump at the chance rather than thinking.
Over the 5 year period I'm paying over £18k in total, thats £7k interest, which is over half the value of the initial loan
The monthly payments are OK, its £300 per month, I'm n... |
My family wheels are pushing 200K miles and lights are starting to come on, noises are starting to come out, and I want to investigate a newer car before I sink money into repairing mine.
What are some tips when purchasing a new car?
I am going to get pre-approved for a loan from a bank or credit union, but I wil... |
What are some tips for getting the upper hand in car price negotiations? |
After talking about it with my wife we came up with the follow thoughts:
1. Few people pay the full price.
Between a grant here and a
scholarship there, the little sums
made a nice dent for us.
2. Are you planning on paying the whole boat, just tuition, just tuition and room and board? There are ... |
We built a new deck this year and we're expecting to take advantage of the Home Renovation Tax Credit (HRTC). How is it supposed to be claimed? How does the credit work? Would it be claimed on the income tax return, or is there a separate application/process? What supporting documentation is required?
|
How is the Home Renovation Tax Credit (HRTC) supposed to be claimed? How does the credit work? |
If a company can lower the dividends and even stop paying them at all during hard times, why would they re-install them at all?
If I understand correctly a company pays dividends so that investors that buy stock from that company have a bigger motivation to do it and then get more people to invest in the company. Bu... |
Why does a company pay dividends at all? |
What is the p/e ratio and how do I find it for a company? |
What is the p/e ratio? |
In recent days, I've had bill collectors calling me about a former room mate of mine, and its getting rather annoying, (he never even lived at this location, or had my phone number). Is there any way I can get this people to leave me alone? I really don't want to get in the middle of my friend's personal business.
... |
How do I get bill collectors who call about people I know to stop calling me? |
Bill's answer is a good, but I'd like to add something specifically regarding the following part of your question:
"*It seems paying dividends would only raise the price of the stock, what does a company gain by raising it? **Would it make more sense to lower it and buy that back?***"
I'd like to point out that t... |
The maximum period that you can refile an adjustment is 10 years prior to the year you ask for a T1 [adjustment][1].
> Only requests relating to tax years ending in any of the 10 calendar years before the year you make the request will be considered. For example, a request made in 2009 must relate to the 1999 or a s... |
I'm a teenager - Why do people use mortgages, when they could just pay for the house in full (cash)? |
In addition, when should I open a savings account at our bank for my kids; and give them accountability over it? |
At what age should I begin discussing money - saving, spending, investing - with my child / children? |
I just got paid some dividends from an ETF that I own. However, that dividend is only about $4, which is sitting as cash in my brokerage account.
What's the best thing to do with this cash? It isn't even enough to pay the commission to buy more of the ETF. |
What to do with small dividends in brokerage account? |
I just got paid some dividends from an ETF that I own. It is only $4, which is sitting as cash in my brokerage account. I'm aware that this is a very tiny amount of money in the grand scheme of things, so this question is more for my curiosity's sake.
The ETF doesn't offer a DRIP option, but even if it did, it proba... |
HST is being introduced in both Ontario ([see this question][1]) and B.C., does anyone have suggestions for how to reduce it's impact on individuals?
[1]: http://www.basicallymoney.com/questions/65/when-does-ontarios-hst-come-into-effect |
How can I minimize the impact of the HST? |
What is a stock warrant? How do warrants work? I've been told they are similar to options; how? Then why not just call them options - what makes them different? |
What is a stock warrant? How do warrants work? |
What are the preferred stocks? Are they different from the normal stocks that you can buy on a stock exchange? |
What are the preferred stocks? |
What are "preferred" stocks? How are they different from normal (common) stocks that you can buy on a stock exchange? |
What are "preferred" stocks? How are they different from normal (common) stocks? |
We've probably all heard of the [Ponzi Scheme][1], made famous first by [Charles Ponzi][2] and most recently by [Bernie Madoff][3]:
> In March 2009, Madoff pleaded guilty
> to 11 felonies and admitted to turning
> his wealth management business into a
> massive Ponzi scheme that defrauded
> thousands of invest... |
What are the most common types of financial scams to look out for, as an individual investor? |
Which U.S. online discount broker is the best value for money? |
Which U.S. online discount broker is the best value for money? |
Which U.S. online discount broker is the best value for money?
Lower prices preferred, but I also like to be able to reach somebody by phone when help is needed. 24 hours not required, but after hours trading is a nice to have... |
How much can my family expect to save on taxes if we ask our sitter for a receipt for last year? Our kids are 6 and 10 and we paid about $2300 last year for occasional child care. My husband and I both work, though my hours were irregular/part time. Are the savings worth it? |
In Canada how much are child care receipts worth for income tax? |
What is your province of residence? Approximately what is the net income of both spouses? |
I'm fully contributing to my Roth IRA every year into a brokerage account that is 100% in mutual funds.
I've done basic mutual fund research and picked about 5 different funds that match what would be considered an appropriate allocation for where I am now in my life, and how long till I retire. I plan to re-balance... |
Should I "hedge" my IRA portfolio with a life cycle mutual fund? |
I'm fully contributing to my Roth IRA every year into a brokerage account that is 100% in mutual funds.
I've done basic mutual fund research and picked about 5 different funds that match what would be considered an appropriate allocation for where I am now in my life, and how long till I retire. I plan to re-balance... |
Should I "hedge" my IRA portfolio with a life cycle / target date mutual fund? |
Do gyms ever negotiate or haggle on price? Do they always insist on a term commitment? Are there any tips and tricks on ways to avoid paying through the nose? |
How can I save money on a gym / fitness membership? New Year's Resolution is to get in shape - but on the cheap! |
You are paid hourly? I would have expected most IT people to be on salary
Depends what your boss is like, he might be easy going and just give a raise if you ask for it.
Failing that, do some self improvements, learn something new, take a course, maybe take some PHP certifications or even java certifications? The... |
Most full time developer jobs in the US are paid on a salary basis rather than hourly unless you are a contractor. Also, the pay varies widely by region in the US with the West and East coast typically paying the most, but also having the highest cost of living.
A site I really like for getting salary data by regi... |
I am a PHP developer with 3 yrs experience and got exposure in Joomla, CodeIgniter. What should be my hourly pay in U.S. and what should I do to increase it with a steady curve?
Thanks. |
How can I increase my hourly pay as a software developer? |
What are the risks & rewards of being a self-employed independent contractor / consultant vs. being a permanent employee?
Note: I am, in fact, a self-employed independent consultant, and I often get asked this question by friends who are in traditional employment. Before I answer my own question, what do you thin... |
What are the risks & rewards of being a self-employed independent contractor / consultant vs. being a permanent employee? |
I'd like the ability to supplement my income when I need to, and a job that I can do remotely from home is ideal. Surely in this era of "going green" and "reducing our carbon footprint" there exist such opportunities? |
Do there exist legitimate Work-from-Home job opportunities? Is there a website that lists them? |
From my understanding it's tied to something called the 'prime rate', but what is that really and who determines what it is? Is it always less than the rate of inflation? |
What is the interest rate online brokerages paying out tied to? |
How much can my family expect to save on taxes if we ask our sitter for a receipt for last year? Our kids are 6 and 10 and we paid about $2300 last year for occasional child care. My husband and I both work, though my hours were irregular/part time. Are the savings worth it?
{Sorry I didn't say earlier}: I live in O... |
The prime rate is the interest rate banks use amongst themselves to lend money to each other only.
It is used as the basis (sometimes) for what interest rate banks charge you. The prime rate is based loosely on the Fed rate. There is a committee that meets regularly to set this and other industry interest rates.
... |
When I look at my google finance page, and I look at a company, lets say Citigroup for example, and I see that the market cap is 83.45 billion, what does that mean? Does that mean Stock Price X Number of shares outstanding? Because if so, that doesn't add up. Also, by issueing more shares of a stock, does a company ... |
What does market cap mean? |
We started with our son about age 5 or so. He was at the time old enough to understand that you buy stuff using money.
We don't give allowance, rather we made up a job chart that he can put checks on, and give him a small amount for each job that he does. This is meant to enforce the idea of 'work and get paid... |
When I look at my Google finance page, and I look at a company, lets say Citigroup for example, and I see that the market cap is 83.45 billion, what does that mean? Does that mean Stock Price X Number of shares outstanding? Because if so, that doesn't add up. Also, by issuing more shares of a stock, does a company a... |
What does market cap (or market capitalization) mean? |
10 years in some states in the US. Also, items don't ever leave your credit report, but time will improve your credit score.
Repair the damage? First find the damage. In the US you are entitled by law to a credit report from each of the bureaus once a year. Some folks get them all at once, some people get one ev... |
10 years in some states in the US. Also, items don't ever leave your credit report, but time will improve your credit score.
Repair the damage? First find the damage. In the US you are entitled by law to a credit report from each of the bureaus once a year. Some folks get them all at once, some people get one ev... |
10 years in some states in the US. Also, items don't ever leave your credit report, but time will improve your credit score.
Repair the damage? First find the damage. In the US you are entitled by law to a credit report from each of the bureaus once a year. Some folks get them all at once, some people get one ev... |
Can someone please explain the meaning of 'shorting' a stock with an example? |
What is short-selling a stock? |
What is "short selling" or "going short" a stock? |
Rich's answer captures the basic essence of short selling with example.
I'd like to add these additional points:
- You typically need a specially-privileged brokerage account to perform short selling. If you didn't request short selling when you opened your account, odds are good you don't have it, and that's *... |
What are the differences between a "traditional" IRA and a Roth IRA? |
I received an email titled "URGENT: Your VbV VISA Password has expired!" The email reads (in an image):
> <h2>VISA Verified by Visa® (VbV) Service</h2>
> *Verified by Visa (VbV) is a global online authentication service that
> makes online shopping more secure for
> both Visa merchants and cardholders.*
> ... |
I received an email from VISA titled "URGENT: Your VbV VISA Password has expired!" Is it legitimate? |
I received an email from my credit card company titled "URGENT: Your VbV VISA Password has expired!" Is it legitimate? |
For instance in our family, baby items - from the big (cribs, changetables) to the small (clothing, bottles, toys) - are constantly passed around from brother to sister to cousin and back again. It would be hard to quantify those types of savings, but I'm sure it's substantial.
Another way we save money among famil... |
What are some ways your family has found to save money, via resource-sharing or hand-me-downs? |
What are some ways your family has saved money via resource-sharing or hand-me-downs? |
**What is long-term care insurance? How does long-term care insurance work?**
<br>
<br>
<br>
*Note: This question is a **Bounty FAQ**. More info [here][1].*
[1]: http://www.basicallymoney.com/users/178/bounty-faqs |
What is long-term care insurance? How does long-term care insurance work? |
What is long-term care insurance?
How does long-term care insurance work?
Who should consider getting long-term care insurance and why?
<br>
*Note: This question is a **Bounty FAQ**. More info [here][1].*
[1]: http://www.basicallymoney.com/users/178/bounty-faqs |
What is long-term care insurance ? How does long-term care insurance work? |
What is value investing? What are the key principles of value investing?
Is there evidence indicating whether value investing results in higher returns, or lower risk, compared to other styles of investing?
<br>
*Note: This question is a **Bounty FAQ**. More info [here][1].*
[1]: http://www.basicallymon... |
What is value investing? What are the key principles of value investing? |
Can I withdraw funds from my 403(b) retirement plan without penalty, for the purposes of purchasing a first-time home?
If not, are there other retirement plans from which I could withdraw without penalty, to which I could transfer funds from my 403(b)? |
Can I use funds in my 403(b) retirement plan for a first-time home purchase? |
Say your a home-owner, a first time buyer. You've just got your first flat and your about 1 year into your 25 year mortgage.
Suddenly, something goes wrong with your job, and your made redundant (credit crisis and all)
You look for other jobs, but struggle, your forced at worse case scenario to take a job stackin... |
home owners, how to protect yourself in worse case scenario (financially)? |
Honestly, the best way to manage this risk is to manage your savings appropriately. Many experts recommend that maintain a reasonably liquid account with 6-9x your minimum monthly expenses for just this occurrence. I know, easier said than done. Right?
As for insurance, I can only speak for what is the case in the U... |
Homeowners: How can you protect yourself from a financial worst-case scenario? |
I'm fully contributing to my Roth IRA every year into a brokerage account that is 100% in mutual funds.
I've done basic mutual fund research and picked about 5 different funds that match what would be considered an appropriate allocation for where I am now in my life, and how long till I retire. I plan to re-balance... |
I'm fully contributing to my Roth IRA every year into a brokerage account that is 100% in mutual funds.
I've done basic mutual fund research and picked about 5 different funds that match what would be considered an appropriate allocation for where I am now in my life, and how long till I retire. I plan to re-balance... |
First of all, it's great you're now taking full advantage of your employer match – i.e. free money.
Next, on the question of the use of a life cycle / target date fund as a "hedge":
Life cycle funds were introduced for hands-off, one-stop-shopping investors who *don't like a hassle* or *don't understand.* ... |
How are 401(k), 403(b), and 457(b) tax-deferred retirement plans different? How are they alike?
<br>
*Note: This question is a **Bounty FAQ**. More info [here][1].*
[1]: http://www.basicallymoney.com/users/178/bounty-faqs |
How are 401(k), 403(b), and 457(b) tax-advantaged retirement plans different? How are they alike? |
I don't know about the technicalities of retirement accounts, but I would advise you to please please please do not use retirement money to buy a home.
The reason for not ever wanting to spend your retirement is.. when can you make it up? When you retire, you are by definition no longer earning money, so all your e... |
Portlander here too!
Have you made sure to consider the tax burden you will have from the inheritance?
- Do you have any debts? Pay them first.
- Sounds like you have a current mortgage. Pay that first before you invest.
- Do you have several months of expenses in cash as an emergency fund? Make sure you ... |
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