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[Clark Howard talked about](http://www.clarkhoward.com/news/shopping-retail/consumer-reports-on-store-brands-vs-name-brands/nFWN/) a Consumer Reports' test on the subject.
Here is his summary:
> Consumer Reports has taken a close
> look at the store brand vs. name brand
> question in the magazine's October... |
What is the point of opening an IRA at a young age, when you can use that money to buy assets that have intrinsic value such as Silver or Gold? Especially opening an IRA in such an unstable American economy, when you cannot foresee what the next decade or next year can potentially bring.
Is it even possible to with... |
What are the benefits of opening an IRA in an unstable/uncertain economy? |
Regarding investing in gold vs. stocks, I don't think I could say it better than Warren Buffett:
> You could take all the gold that's
> ever been mined, and it would fill a
> cube 67 feet in each direction. For
> what that's worth at current gold
> prices, you could buy all -- not some
> -- all of the farmland ... |
IRAs have huge tax-advantages. You'll pay taxes when you liquidate gold and silver. While volatile, "the stock market has never produced a loss during any rolling 15-year period (1926-2009)" [[PDF]][1]. This is perhaps the [most convincing article][2] for retirement accounts over at I Will Teach You To Be Rich.
An I... |
IRAs have huge tax-advantages. You'll pay taxes when you liquidate gold and silver. While volatile, "the stock market has never produced a loss during any rolling 15-year period (1926-2009)" [[PDF]][1]. This is perhaps the [most convincing article][2] for retirement accounts over at I Will Teach You To Be Rich.
An I... |
IRAs have huge tax-advantages. You'll pay taxes when you liquidate gold and silver. While volatile, "the stock market has never produced a loss during any rolling 15-year period (1926-2009)" [[PDF]][1]. This is perhaps the [most convincing article][2] for retirement accounts over at I Will Teach You To Be Rich.
An I... |
My brother has about 5 loans that he paying back and he thinks that another 5000 loan will "solve his problem".
He has been this way since he was young, he's now in his 30's.
I'm trying to find a way to explain to him that debt upon debt isn't the solution and he is going to have to spend 5-10 years paying back a... |
Most banks allow you to transfer money _into_ a Certificate of Deposit (CD) using their website. However, once you open a CD you usually have to call to close or otherwise modify the CD account when it matures. I hate that.
Are there any banks that allow you to close and transfer money from a CD account using ju... |
Most banks allow you to transfer money _into_ a Certificate of Deposit (CD) using their website. However, once you open a CD you usually have to call to close or otherwise modify the CD account when it matures. I hate that.
Are there any banks that allow you to close and transfer money from a CD account using ju... |
As I understand it, stocked-based index fund have been a reliable long term investment option in the last X years. Specifically, during "most" 10-year intervals in the examined history, the yield on them out-performed most other investment options (8.5% yearly according [to this][1]).
According to this, my investmen... |
Are stock index fund likely to keep being a reliable long-term investment option? |
It's been a while, but I'm pretty sure I opened and closed a CD with ING completely online a few years back.
Here's a question in their FAQ that refers to having the proceeds deposited into your "linked account":
http://helpcenter.ingdirect.com/ingd/Topic.aspx?category=C3BNKOCDUS#FBNKOCDU03 |
Which bank(s) allow you to open AND close CDs online? |
When I make contributions to my employer's pre-tax 401k account, are FICA taxes applied before or after making the contributions? |
Are FICA taxes applied before or after contributions to a pre tax 401k? |
Should I take money out of an old 401k to put down on a house? |
Should I take money out of an old 401(k) to put a down payment on a house? |
Situation: I've just inherited X$, which I'd like to invest in my favorite stock. I got the money right now in my checking account, every day that passes without it being invested is a waste. Also, suppose that I'm not too knowledgeable about the specifics of the different stocks, and my investment strategy is "put eve... |
How to decide on limits when purchasing/selling stocks? |
Currently, I'm working full time while studying to get my degree. I'm making monthly payments on my other debt, and looking to be completely debt free - with the exception of my student loans - within 12 months. However, it looks like I've pretty much exhausted my borrowing possibilities to pay for school. It's not ... |
School or retirement? |
It's not your money. What does your wife think of this?
You know, the withdrawal is subject to full tax at your marginal rate as well as a 10% penalty. That's quite a price to pay, don't do it. |
Does the 401(k) get any match? Whatever you do, don't lose the match. Without more detail, it's tough. Will you lose more sleep for the debt rising, or for the retire account not?
It seems your debt is well managed, a year to zero? A student loan wouldn't scare me. |
All,
I'm am about to re-enter real life after 7 years as a Ph.D. student, and I want to manage my money better this time. My understanding is that controlling your expenses using a budget is the gold standard for doing this (note I'm frugal, but I think this could still help me save more).
I have three problems,... |
I live a pretty busy lifestyle. I'm in my late 20s and go out often and I work a lot as well.
I find that I'm always throwing out food. It's mainly becuase I do grocery shopping but I don't know when I'll be able to use it. And after a while, they just go off.
I try to buy less, but it's just the inconsistency an... |
How can I stop wasting food? |
A few ideas:
1. If you can find cards that don't have fees, you could use re-loadable debit/gift cards as your "envelopes". You can write the purpose for each card on its face. Carrying around more than a few cards will get unwieldy fast -- how many categories do you need?
3. Use the rewards card strategy that wa... |
I would question whether your stated goal (of strictly controlling your expenses) is really the problem you should be tackling. In my opinion, unless you're under financial hardship where you can barely make ends meet, you're much better off using a budget as a high-level, descriptive tool rather than a low-level, pre... |
Obviously because of the GFC, I've been hearing a lot about the US property market crash. I have a feeling something similar is waiting to happen in Australia so I would like to do my research and see exactly how this is happening.
I was wondering, is the decline in property prices uniform across like every location... |
how uniform is the decline in US property prices? |
Obviously because of the global financial crisis, I've been hearing a lot about the US property market crash. I have a feeling something similar is waiting to happen in Australia so I would like to do my research and see exactly how this is happening.
I was wondering, is the decline in property prices uniform across... |
How uniform is the decline in US property prices? |
All,
I'm am about to re-enter real life after 7 years as a Ph.D. student, and I want to manage my money better this time. My understanding is that controlling your expenses using a budget is the gold standard for doing this (note I'm frugal, but I think this could still help me save more).
I have three problems,... |
I would question whether your stated goal (of strictly controlling your expenses) is really the problem you should be tackling. In my opinion, unless you're under financial hardship where you can barely make ends meet, you're much better off using a budget as a high-level, descriptive tool rather than a low-level, pre... |
I would question whether your stated goal (of strictly controlling your expenses) is really the problem you should be tackling. In my opinion, unless you're under financial hardship where you can barely make ends meet, you're much better off using a budget as a high-level, descriptive tool rather than a low-level, pre... |
To make this more general: should you save for retirement or for education? The answer is simple: save for your education first.
> A PriceWaterhouseCoopers report on
> behalf Universities UK in 2006 and
> another by the Washington-based
> College Board in 2007 indicate that
> graduates of higher education can e... |
As the saying goes real estate is about location location location. Some local areas did much worse than others, in my area Raleigh NC price declines were smaller than in many of the so called sand states FL, CA, NV, AZ. The largest price declines and the longest times on the market here were in the more expensive home... |
Not all education is considered equal. Can you tell us just a little bit about what kind of degree you are going for and where? The reason I ask is that there are many schools out there which are more interested in making a profit, and less interested in providing an education.
-Ralph Winters |
*Apologies if this is too off-topic. This seemed like the closest-fit SE site for this*
A lot of people will have at some point received a spam text offering some sort of help via a debt settlement order, or help claiming for an accident that they have never had. I’ve noticed these are prevalent in both the US and ... |
"Debt Settlement Order" Text Spams – How do they work? |
You want to combine a set of techniques to avoid throwing food away.
1. Consider setting aside a weekend day or other non-busy time to do some food prep. Check to see if there is anything in the fridge that needs to be used quickly and prioritize meals that use that item. Make a weekly menu and get your groceries.... |
Our household MAGI (Modified Adjusted Gross Income) does not allow us to contribute the full amount to a Roth IRA for 2010. In that case is converting some part of Traditional IRA to Roth to complete the gap, a good idea? Do the income restrictions only apply to direct contributions and not to conversions for the Roth ... |
I was hoping someone could take a critical eye to an idea i've had.
Traditionally it's said that one should diversify across various asset classes and ultimately types to spread the risk out based on their preferred asset allocation. In theory, one should then periodically rebalance their portfolio and potentially ... |
The goal of diversifying your investment portfolio is to hold multiple classes of investments such that when one goes down, another goes up, and vice-versa.
If you hold something long and short at the same time, won't your profits and losses exactly negate each other? I believe they will track too closely (if no... |
[This ehow article](http://www.ehow.com/how_4914529_short-treasury-bonds.html) provides some answers to the question "How to short US Treasury bonds?":
> Open a futures account and short the government 10 year treasury bond contract. There is no accrued interest to be paid. Margin on bond futures is less than 10 per... |
I think it would be useful to have a chart that shows how much a specific share out- or under-performs the composite index, e.g. Apple compared to the Nasdaq-100. I think (though I may be naive about this) that this would allow me to see how much of the share price movement is due to the particular share, and how much ... |
How can I remove the movement of the stock market as a whole from the movement in price of an individual share? |
Are there Investable Real Estate Indices which track Geographical Locations? |
My wife and I were planning to buy a house this year, but the plan fell through, so right now we are sitting on about $90,000 that we saved towards downpayment and renovations ( prior to now money was in the Money markets, Savings & CDs). We decided to stop looking for a house for about a year, and resume next February... |
What is the best way to invest short term without loosing principal ? |
My wife and I were planning to buy a house this year, but the plan fell through, so right now we are sitting on the money that we saved towards downpayment and renovations ( prior to now money was in the Money markets, Savings & CDs). We decided to stop looking for a house for about a year, and resume next February, th... |
My wife and I were planning to buy a house this year, but the plan fell through, so right now we are sitting on the money that we saved towards down payment and renovations (prior to now money was in the Money markets, Savings & CDs). We decided to stop looking for a house for about a year, and resume next February, th... |
What is the best way to invest short term without losing principal ? |
I have a Roth 401k. Soon I will have enough debts paid off that I would like to start building up a down payment for a house. The house purchase will be my first, and will be over a year from now. (Likely 2-5 years.)
To me it seems that my Roth 401k is the perfect place to start investing for a house. I have seen s... |
First time home buyer: Can you withdraw funds from a Roth 401k for a first time home purchase? |
I have recently accepted a new job which requires me to move across the country and as part of my employment I was offered a signing bonus to assist with relocation. It just barely occurred to me that bonuses are subject to taxation in the amount of ~40%, with a portion returned on the next tax return. Given this fact,... |
Are taxes applied to expense reimbursements? |
The rules are quite different. There is no special home purchase penalty-free withdrawal. In the case that your account has been open for five years, you can withdraw the principal (but not the earnings) without penalty. You may want to talk to a professional for further details.
The real question is: why do you ... |
I have recently accepted a new job which requires me to move across the country and as part of my employment I was offered a signing bonus to assist with relocation. It just barely occurred to me that bonuses are subject to taxation in the amount of ~40%, with a portion returned on the next tax return. Given this fact,... |
I'm not an accountant or a lawyer, however your relocation expenses should be 100% expensable to the company. BUT guess what? [They are also 100% deductible to you][1].
So I'd say, take the bonus and then just claim the deduction on your personal income.
[1]: http://www.irs.gov/taxtopics/tc455.html |
We are in the process of trying to rent our place. We would like to make an offer on another property, but hesitate to do so until our place is rented for obvious reasons. However, we also do not wish to lose out on this "new" place and have it be sold while we wait around for renters.
If we do make an offer, be... |
Is making and offer on new property wise if property is not sold/rented yet? |
Is making an offer on a new property wise if current property is not sold or rented yet? |
Of these two peer-to-peer lending services, Lending Club and Prosper, which have you had a better experience with? What are the advantages and disadvantages of each?
Of course, this can be a nuanced answer, and each may be better for certain uses. |
Compare and contrast lending services: Lending Club and Prosper? |
E-file and additional paperwork: Can I e-file an explanation of a rollover or do I need to paper file? |
I have an opportunity that would pay me $70 an hour but it would be corp to corp, which as far as I understand would mean I would need to do all my own taxes and social security. I live in Raleigh, NC with about 3-4 dependents. Roughly how much could I expect to be making an 80 hr pay period after taxes? |
There are way too many details missing to be able to give you an accurate answer, and it would be too localized in terms of time & location anyway -- the rules change every year, and your local taxes make the answer useless to other people.
Instead, here's how to figure out the answer for yourself.
Use a tax **es... |
I have an opportunity that would pay me $70 an hour but it would be corp to corp, which as far as I understand would mean I would need to do all my own taxes and Social Security. I live in Raleigh, NC with about 3-4 dependents. Roughly how much could I expect to be making an 80 hr pay period after taxes? |
Contract job (hourly rate) as a 1099: How much would I be making after taxes? |
I use [StockCharts](http://www.stockcharts.com/) for spread charting. To take your question as an example, here is the [chart](http://stockcharts.com/h-sc/ui?s=AAPL:$COMPQ&p=D&b=5&g=0&id=p31145727277) of Apple against Nasdaq. |
You have tracked the non-deducted IRA money via form 8606. Now, you have two numbers. Total balance and taxed deposits.
For example - I deposited $5K/yr into my IRA for the last 4 years, not deducted from my income. I now have a $20K post tax amount, but my actual balance can be higher (I'd hope) or lower.
If my bal... |
I live in the NW US. I've been considering buying a house for some time now. But the market value of a house has been on a downward trend for years. I thought that around October last year the market had turned (and dramatically) but that turned out to be a bump related to an expiring tax credit. Since then, the market... |
can I use Case Shiller values to find an optimal time to buy in a recovering housing market? |
The rent versus buy question is a deeply personal one in which your personal desires for a living space need to be carefully combined with what makes economic sense. Do you want your own place with all the joys of having it be yours and all the pains of having to handle all the maintenance and be the one ultimately re... |
Does your spouse work? That's one factor that can put your in some into a higher bracket.
The one difference to note is you will pay 2x the social security portion, so even though not "federal" tax, its right off the top nearly 13%.
I'm not familiar with your states tax. It's really worth dropping the $75 on a copy o... |
Does your spouse work? That's one factor that can put your income into a higher bracket.
The one difference to note is you will pay 2x the social security portion, so even though not "federal" tax, its right off the top nearly 13%.
I'm not familiar with your states tax. It's really worth dropping the $75 on a copy of... |
"the total principal is also dropping" - you mean you're paying it down, right?
All else the same, if you found a house whose payments are less than rent, and planned to stay long term, buying can make sense. But let's not forget the other costs and risks. How badly do you want to be a homeowner?
|
I am a 52 year old male. I have been on a limited employment for 2 1/2 years only working less than 10 hours a month at a local department store. I have asked for more hours and have not gotten any. I formerly worked a job that paid $69,000.00 per year.
My wife and I have filed for bankruptcy and live with her sist... |
What should I do with a lump sum payment while I don't have a steady source of income? |
**Do not purchase a house** unless you are certain of the future method of paying off the mortgage.
From your description, you have $1200.00 in debt and a liability of $495/month. Your wife's monthly income is the only source of steady income you have and that is $450 (per month?).
Either way, the lump sum pay... |
My employer doesn't offer a 401k and it doesn't look like they will anytime soon. I already have a maxed out Roth IRA, so I would really like to do something with pre-tax dollars before I push my money into something else. Can I setup my own 401k and invest into that? |
Employer doesn't offer a 401k, where can I invest pre-tax dollars? |
Use the money to pay down debt - you're not saying who much you're earning but from the 10h/month I'd guess it's not a lot either.
Knock off the credit cards, do something about the car (how much do the two of you earn in total per month?). If you've just filed bankruptcy, how would that house purchase work at all?
... |
Q1) If my Visa credit card has a zero balance and then I charge something on the Visa, do I now have a "positive balance" or a "negative balance"?
Q2) Same question for a utility account like a power bill. What is my balance called when I owe money?
Thanks. |
Money owed to credit cards called "positive balances" or "negative balances"? |
You are already doing everything you can.
If your employer does not have a 401(k) you are limited to investing in a Roth or a traditional IRA (Roth is post tax money, traditional IRA gives you a deduction so it is essentially pre tax money). The contribution limits are the same for both and contributing to either a... |
I don't know what he's saying or if it's true. If it is true, it might be worth doing. Please interpret, and advise regarding the value of, this advice:
Pay your mortgage down faster by opening a HELOC @ 6% or more. Print out your loan amortization, add the interest for the next 5 payments and divide that by how m... |
Is this mortgage advice good, or is it hooey? |
Sounds fishy - taking out more debt to pay the main mortgage down faster?
There are a couple of issues I can see:
- Second mortgages/HELOCs aren't that easy to come by at the moment and they're more expensive on an APR basis than the first mortgage because the risk is higher
- I would expect a HELOC to incur clo... |
I don't know what he's saying or if it's true. If it is true, it might be worth doing. Please interpret, and advise regarding the value of, this advice:
Pay your mortgage down faster by opening a HELOC @ 6% or more. Print out your loan amortization, add the interest for the next 5 payments and divide that by how m... |
Jack "The Mortgage Professor" Guttentag [provides a thorough analysis](http://www.mtgprofessor.com/A%20-%20Early%20Payoff/a_path_to_mortgage_relief.htm) of a similar-sounding system:
> In addition, I had the feeling that customers of Mortgage Relief should have gotten a spreadsheet for their $45, and wondered why th... |
I own two properties which I rent out. I am also pay mortgages on each of these properties (I'm not sure if this matters). How is the rental income taxed? Do I have any options regarding how this is taxed? Any things I should consider? |
Did you just buy them in 2010? If you owned them prior, you might have to amend your returns.
Rental property income and expenses is declared on a [Schedule E][1] and once you add all your expenses along with depreciation, you may show a loss. You can take that loss against ordinary income if your gross income is un... |
I own two properties which I rent out. I am also paying mortgages on each of these properties (I'm not sure if this matters). How is the rental income taxed? Do I have any options regarding how this is taxed? Any things I should consider? |
I live in Green Bay, WI in a newer development. We built our house 2 years ago and houses are starting to go up around here. We want to buy the vacant lot next to us so we don't get any neighbors.
I'm trying to figure out what the tax liability would be for owning this land. I am assuming it is considered an inve... |
Tax implications of buying the vacant lot next door? |
How is rental income taxed? |
Can I use Case Shiller values to find an optimal time to buy in a recovering housing market? |
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