Like I said up above - ya got a spouse with cancer who has no health insurance if you leave your job - you don't leave your job.   Also, our expenses in general here in L.A. are so insanely high.  We have never been able to save substantial money.  I think we're responsible for our own happiness, but we are also responsible for people we have to take care of, be they kids, spouses, etc.


"> Or just remember how much you spent. The purpose of my comment was to say the online balance isn't a true balance, not that I had trouble balancing a book.   Except that you rather obviously *don't* comprehend what the meaning of ""true balance"" is.  The balance the bank shows on it's online system (or it's statements) is very much a ""true balance"" **of the transactions the BANK is aware of** (i.e. the ones that have been processed).  That you think the bank should somehow be ""magically aware"" of the fact that you just signed a credit card transaction -- or that you wrote a check and mailed it off to someone -- demonstrate that you lack a fundamental comprehension of the system.  And the ""just remember how much you spent"" as an excuse for not properly (independently) **recording (and mathematically subtracting)** what you have spent...  Is demonstrative of both ignorance AND laziness."


"I just found out my financial advisors are not fiduciaries. they manage a very large fund and have a board of trustees. they have a 30-year track record of great results. I asked why would the wealth managers not be fiduciaries if they will only ever act in the best interest of the clients and was told ""I would assume because they don't have to be, the assets aren't theirs, they belong to the fund""  Should I run?"


I would add to your reasons: Would you mow an entire lawn with a string trimmer just because you can, or would you buy a lawnmower? Use the right tool for the job.


"I pm'ed you, that was the end of it. Then you came back ""from accross the pond"" or whatever and started commenting again. You obviously care. I'm just replying to you because I'm getting a tire replaced and I'm bored. I mean, what are you getting at? What's your angle at this point?   You are a bizarre cat ms. Fartcatcher."


>It was a way to associate an ad with a user’s page without putting it directly on the page, which advertisers worried would imply an association between their brand and the page’s content.   bullshit. It was a way to get noticed.   besides we had banner ads before that and often hilariously unrelated to the page it was on.. not one associated it, they simply poked fun.


Did you read the part where the economists said the economic growth from unskilled workers was offset by the need for social services? Economists said globalization would be good for American workers. Then, whoops, sorry. Trade agreements lift those countries with high rates of poverty and depresses the wages of the middle classes in better off countries.   Economists love to crow about free markets. Then, whoops, sorry. Banking and insurance needs regulations to prevent abuses leading to worldwide recession.   Economists look at everything from the basic Econ 101 model they learned in school which described the ideal market. Theoretically, this is how markets work.   I don't know why we still put so much faith in their words.


"For any accounts where you have a wish to keep track of dividends, gains and losses, etc., you will have to set up a an account to hold the separately listed securities.  It looks like you already know how to do this.  Here the trading accounts will help you, especially if you have Finance:Quote set up (to pull security prices from the internet). For the actively-managed accounts, you can just create each managed account and NOT fill it with the separate securities.  You can record the changes in that account in summary each month/year as you prefer. So, you might set up your chart of accounts to include these assets: And this income: The actively-managed accounts will each get set up as Type ""Stock.""  You will create one fake security for each account, which will get your unrealized gains/losses on active accounts showing up in your trading accounts.  The fake securities will NOT be pulling prices from the internet.  Go to     Tools -> Securities Editor -> Add and type in a name such as ""Merrill Lynch Brokerage,"" a symbol such as ""ML1,"" and in the ""Type"" field input something like ""Actively Managed."" In your self-managed accounts, you will record dividends and sales as they occur, and your securities will be set to get quotes online.  You can follow the general GnuCash guides for this.   In your too-many-transactions actively traded accounts, maybe once a month you will gather up your statements and enter the activity in summary to tie the changes in cost basis.  I would suggest making each fake ""share"" equal $1, so if you have a $505 dividend, you buy 505 ""shares"" with it.  So, you might have these transactions for your brokerage account with Merrill Lynch (for example): When you have finished making your period-end summary entries for all the actively-managed accounts, double-check that the share balances of your actively-managed accounts match the cost basis amounts on your statements.  Remember that each fake ""share"" is worth $1 when you enter it.  Once the cost basis is tied, you can go into the price editor (Tools -> Price Editor) and enter a new ""price"" as of the period-end date for each actively-managed account.  The price will be ""Value of Active Acct at Period-End/Cost of Active Acct at Period-End.""  So, if your account was worth $1908 but had a cost basis of $505 on Jan. 31, you would type ""1908/505"" in the price field and Jan. 31, 2017 in the date field. When you run your reports, you will want to choose the price source as ""Nearest in Time"" so that GnuCash grabs the correct quotes. This should make your actively-managed accounts have the correct activity in summary in your GnuCash income accounts and let them work well with the Trading Accounts feature."


When you buy a currency via FX market, really you are just exchanging one country's currency for another. So if it is permitted to hold one currency electronically, surely it must be permitted to hold a different country's currency electronically.


"As others have noted, your definition of ""market price"" is a bit loose.  Really whatever price you get becomes the current market price.  What you usually get quoted are the current best bid and ask with the last transaction price.  For stocks that don't trade much, the last transaction price may not be representative of the current market value. Your question included regulation (""standards bureau""), and I don't think the current answers are addressing that.  In the US, the Securities and Exchange Commission (SEC) provides some regulation regarding execution price.  It goes by the designation Regulation NMS, and, very roughly, it says that each transaction has to take the best available price at the time that it is executed.  There are some subtleties, but that's the gist of it. No regulation ensures that there will be a counterparty to any transaction that you want to make.  It could happen, for example, that you have shares of some company that you're never able to sell because no one wants them. (BitCoin is the same in this regard.  There is a currently a market for BitCoin, but there's no regulation that ensures there will be a market for it tomorrow.) Outside of the US, I don't know what regulation, if any, exists."


That is called a 'volume chart'. There are many interactive charts available for the purpose. Here is clear example.  (just for demonstration but this is for India only) 1) Yahoo Finance 2) Google Finance 3) And many more Usually, the stock volume density is presented together (below it) with normal price vs time chart. Note: There is a friendly site about topics like this. Quant.stackexchange.com. Think of checking it out.


A falling $AUD would be beneficial to exporters, and thus overall good for the economy. If the economy improves and exporters start growing profits, that means they will start to employ more people and employment will increase - and with higher employment, employees will become more confident to make purchases, including purchasing property. I feel the falling $AUD will be beneficial for the economy and the housing market. However, what you should consider is that with an improving economy and a rising property market, it will only be a matter of time before interest rates start rising. With a lower $AUD the RBA will be more confident in starting to increase interest rates. And increasing interest rates will have a dampening effect on the housing market. You are looking to buy a property to live in - so how long do you intend to live in and hold the property? I would assume at least for the medium to long term. If this is your intention then why are you getting cold feet? What you should be concerned about is that you do not overstretch on your borrowings! Make sure you allow a buffer of 2% to 3% above current interest rates so that if rates do go up you can still afford the repayments. And if you get a fixed rate - then you should allow the buffer in case variable rates are higher when your fixed period is over. Regarding the doomsayers telling you that property prices are going to crash - well they were saying that in 2008, then again in 2010, then again in 2012. I don't know about you but I have seen no crash. Sure when interest rates have gone up property prices have levelled off and maybe gone down by 10% to 15% in some areas, but as soon as interest rates start falling again property prices start increasing again. It's all part of the property cycle.  I actually find it is a better time to buy when interest rates are higher and you can negotiate a better bargain and lower price. Then when interest rates start falling you benefit from lower repayments and increasing property prices. The only way there will be a property crash in Australia is if there was a dramatic economic downturn and unemployment rates rose to 10% or higher. But with good economic conditions, an increasing population and low supplies of newly build housing in Australia, I see no dramatic crashes in the foreseeable future. Yes we may get periods of weakness when interest rates increase, with falls up to 15% in some areas, but no crash of 40% plus. As I said above, these periods of weakness actually provide opportunities to buy properties at a bit of a discount. EDIT In your comments you say you intend to buy with a monthly mortgage repayment of $2500 in place of your current monthly rent of $1800. That means your loan amount would be somewhere around $550k to $600K. You also mention you would be taking on a 5 year fixed rate, and look to sell in about 2 years time if you can break even (I assume that is break even on the price you bought at). In 2 years you would have paid $16,800 more on your mortgage than you would have in rent. So here are the facts: A better strategy:


"The best solution is to ""buy"" the car and get your own loan (like @ChrisInEdmonton answered). That being said, my credit union let me add my spouse to a title while I still had a loan for a title filing fee.   You may ask the bank that holds the title if they have a provision for adding someone to the title without changing the loan.   Total cost to me was an afternoon at the bank and something like $20 or $40 (it's been a while)."


"No, they are a fucked up company that uses patent litigation to try and control designs they have no rightful ownership of. The phrase ""patent troll"" certainly can have multiple meanings and that is one of them.   The judge that slapped them with an injunction for abusing patent law and acting as bullies pointed out that the patents they were suing against had expired over fifty years previously. That is a patent troll."


A look at the utility bills should give you an idea of the actual number of tenants.  Some places- like I once read of Carmel, California- may require you prove you have enough water to support more rental cabins.  You may find the nearby community is anti-growth. If a profitable expansion were possible, I'm wondering why the current owner didn't do it.  Since a fire or flood could destroy all, you'll want to know what full replacement-value insurance and riders will cost.  Can emergency vehicles travel the current roads, or is the new owner going to be liable for any costs to widen, cut back brush, and otherwise bring up to code? We did this on the access to our property, then the County graded it.  If the location is so remote that a storm could cut you off, you'll want to mentally and physically prepare for this. I've lived in remote areas and it can be heavenly-until someone needs an emergency MediVac. Ensure you've got good antenna for CB or HAM-don't rely on cell alone.


Also, a propensity to make good decisions (information notwithstanding) can probably be ultimately attributed to your genetics and upbringing, neither of which anyone has any control over.  So it is difficult to attribute anything at all, fundamentally, to anything but circumstance.   Sad but true.


That is the part I like most about SoundCloud, how artists use it as a platform to share their creations. As others have mentioned it's probably just a shit mobile app, which is a pity. Because the app is a means to an end, that is to say.... I use the app to stream soundcloud, which is then transmitted to my Hi-FI setup over Chromecast or bluetooth (preferably the former).


"Being self-employed, your ""profit"" is calculated as all the bills you send out, minus all business-related cost that you have (you will need a receipt for everything, and there are different rules for things that last for long time, long tools, machinery).  You can file your taxes yourself - the HRS website will tell you how to, and you can do it online. It's close to the same as your normal online tax return. Only thing is that you must keep receipts for all the cost that you claim.  Your tax: Assuming your gross salary is £25,000 and your profits are about £10,000, you will be paying 8% for national insurance, and 20% income tax. If you go above £43,000 or thereabouts, you pay 40% income tax on any income above that threshold, instead of 20%, but your national insurance payments stop."


"Sometimes a business must keep track of overhead expenses that can be used to determine the rates they will bill their customers especially the government. When determining the rates they are allowed to charge the government they have to include direct costs and indirect costs. These indirect costs include allowable overhead and G&A. They can also include profit, but the government limits the maximum profit. Any unallowable expenses have to come out of profit.  Unallowable expenses include: ""Costs of amusement, diversions, social activities, and any directly associated costs such as tickets to shows or sports events, meals, lodging, rentals, transportation, and gratuities are unallowable."" When they talk about meals and lodging being unallowable they are referring to those not needed to support the contract. If the contract expects the contractor to travel they will generally provide a travel budget that is separate from the amounts used to determine the hourly rate. The term slush fund has the connotation of being illegal or hidden. Slush funds are used to bribe officials or are leftover funds that were supposed to be spent, and are now being hidden so that they can be misused at a later date."


I would investigate mint.com further.  Plenty of people have written off using them because Intuit purchased them, but that seems like cutting of your nose to spite your face. I think mint.com is worth it for its Trends functionality alone, not to mention its automatic categorization of your purchases, reminders when bills are due, notifications of increased credit card interest rates, and overdraft notices. I don't think mint.com schedules bills & deposits, but it tracks stocks & mutual fund investments and compares your portfolio returns against Dow Jones, S&P 500, or NASDAQ if you wish.  I'm not sure I see the advantage of manual transaction entry, but you can add cash or check transactions manually.  As I mentioned earlier, automated categorization is a great feature.  In addition, you can tag certain transactions as reimbursable or tax-related. If the primary feature you're interested in is stock quotes, maybe something like Yahoo Finance or Google Finance will be enough.


"This is actually a very complicated question. The key reading in this area is a seminal paper by Almgren & Chriss, ""Optimal Execution of Portfolio Transactions"" (2000). They show that there's a tradeoff between liquidating your portfolio faster and knowing the value with more certainty, versus liquidating more slowly (and likely for a higher price) but with less certainty. So for example, if you sold your entire position right now, you would know almost certainly how much you would get for the position. Or, you could sell off your position more slowly, and likely get more money, but you would have less certainty about how much you would get. The paper is available online at http://www.courant.nyu.edu/~almgren/papers/optliq.pdf"


First, a Roth is funded with post tax money. The Roth IRA deposit will not offset any tax obligation you might have.  The IRA is not an investment, it's an account with a specific set of tax rules that apply to it. If you don't have a brokerage account, I'd suggest you consider a broker that has an office nearby. Schwab, Fidelity, Vanguard are 3 that I happen to have relationships with.  Once the funds are deposited, you need to choose how to invest for the long term. The fact that I'd choose the lowest cost S&P ETF or mutual fund doesn't mean that's the ideal investment for you.  You need to continue to do research to find the exact investment that matches your risk profile. By way of example, up until a few years ago, my wife and I were nearly 100% invested in stocks,  mostly the S&P 500. When we retired, four years ago, I shifted a bit to be more conservative, closer to 80% stock 20% cash.


Assisted living can give seniors a new lease of life; it can be the best place for them. There are many benefits offered by these assisted living facilities: Safety – it provides a safe and comfortable environment for elders. Certain installations like bars to grab onto while in the shower or ramps and panic call buttons can go a long way in reducing falls and accidents. As safe as we may try to be, accidents do happen. There is always a 24-hour emergency alert system so if residents have emergencies in their own apartment or room, they can summon immediate help. These facilities also hire trained professionals who work round the clock to attend to these emergencies. Meals – there are many elders who don’t enjoy eating alone. Assisted living community offers freshly prepared meals. The main pull, however, are the communal meals. People tend to eat better when they have company. Transportation – most centers provide group transportation for shopping, community events, and clinic appointments. This gives elders the freedom to go where they want to, with no restrictions what so ever. Less worry- residents will not have to worry about repair responsibilities. If something is not working, they simply alert the administration and the problem is fixed. Living is a community eliminates the fear of letting in a stranger to fix a bathroom pipe and getting an expensive repair bill. Socialization- this is perhaps the best reason to let elders stay in an assisted living community. Social skills of elders can decline as lifelong friends have health issues or have died. This can cause depression to set in and a reluctance to be socially active. At assisted living communities, ones the residents adjust to the lifestyle, they start enjoying the company of like-minded people. They play cards together, listen to music, exercise, have snacks, go to community events and even invite people over to entertain them. They can even enjoy intellectual stimulation as most communities provide classes, book clubs and art workshops to help them expand their horizon and keep their senses sharp. Summerfield is one such Utah Retirement home, where residents get assistant as per their requirement and still enjoy their independence.


Your broker should make you whole by adjusting the quantity of the underlying (see: http://www.schaeffersresearch.com/education/options-basics/key-option-concepts/dividends-stock-splits-and-other-option-contract-adjustments) but I would check with them that this will happen. You will then have an option on 4 times the underlying for each option. Unless the price has risen in the interim or you bought them after the split was announced you should not make a loss.


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"This is the best tl;dr I could make, [original](http://thehill.com/homenews/administration/356449-trump-identifies-three-candidates-for-fed-job) reduced by 70%. (I'm a bot) ***** > In an interview on Fox Business Network&#039;s &quot;Mornings with Maria&quot; set to air Sunday, Trump said he is considering Federal Reserve Governor Jerome Powell, Stanford University economist John Taylor and current Fed Chairwoman Janet Yellen.  > Reuters had reported the day before that White House National Economic Council Director Gary Cohn and former Fed Governor Kevin Warsh are also under consideration to chair the Fed.  > Trump met with Yellen at the White House on Thursday, and the Fed chairwoman visited once again on Friday to have lunch with Cohn.   ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/77ql0k/trump_names_candidates_for_top_fed_job/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ ""Version 1.65, ~232225 tl;drs so far."") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr ""PM's and comments are monitored, constructive feedback is welcome."") | *Top* *keywords*: **Trump**^#1 **Fed**^#2 **Yellen**^#3 **White**^#4 **House**^#5"


High-paying salary countries have higher cost of living and Japan tops the list (unless you want to live like a monk inside the creepy confines of Japan's suicide forest called Aokigahara).  This infograph will make you think hard.  Do you wanna stay-put and eat 350 pesos/kilo of large pink shrimps or do you wanna go and see the world, maybe live in Australia and have the same shrimps for lunch enjoying the breathtaking views of Sydney Harbour for twice the price?


> I'm strongly considering the military as an option to pay for it. They have a program where you commission as an officer, with that salary, and they cover school.  Aren't they going to make you work for them and send you overseas whenever they want?  In high school I took the asvab and they wouldn't stop bugging me and told me they would cover all expenses, but from what I remember I had to be their property for a while which I wasn't okay with.


> The economic rich make the world a better place by creating goods and services people are willing to pay for.  Sounds like supply-side bullshit to me. More people with money to purchase goods are far more important than a few people with more money deciding what they feel like poor people should want to buy.


The problem is cutting Social Security is a great way to not get reelected.  So congress will resist doing this no matter what.  I fear they might rather push the country to the verge of bankruptcy rather than cut Social Security.


"On reflection there are financial products that do what you want, whole-life insurance policies that guarantee an annual dividend calculation on some index with a ceiling and floor.  So you will have a return within a defined minimum and maximum range.   There are a lot of opinions on the internet on this.  This Consumer Reports article is balanced These have a reputation for being bad for the consumer compared to buying term life and investing in a mutual fund separately, but if you want the guarantee (or are a ""moral hazard"" for a life insurance policy, closer to death than you appear on paper) it may be a product for you.   If you're very wealthy, there is an estate tax exploit in insurance death benefits that can make this an exceptional shield on assets for your heirs, with the market return just the gravy."


By in combination with fiat I mean we will continue to use sterling or dollars in society along with Bitcoin perhaps for online purchases exclusively, as an example. Many people here advocate for a society that would only use cryptocurrency as money.   Cryptocurrency, specifically Bitcoin, is unlike fiat currency firstly because it is not backed by a government, it's in the ether so to speak, it proves its own value intrinsically. No central authority decides on the actions to take in regard to the currency.   Other characteristics that separate Bitcoin from fiat are its inability to be inflated, it's finite nature, there will only ever be x amount of bitcoins - it is deflationary by nature of the algorithm. Central authorities can devalue their fiat currency through financial instruments like inflation and controlling the production (quantitative easing). This isn't true of all crypto currencies like dogecoin and maybe ETH


Start reading up on what you want to do. Then decide how you are going to get there. CFA/CPA could only help you, same goes for an MBA. How much programming experience  do you have?   You have a P.h.D in Chemistry. Not too familiar with the field of chemistry, but I'm guessing that it is reasonably quantitative in nature. This demonstrates that you can be taught and can synthesize complex information. A lot of firms look for people like you who can think outside of the proverbial financial box. One to check out is D.E. Shaw. They hire people with obscure backgrounds to work in finance. I bet that most of the people that work there never studied any sort of finance prior to becoming employed there.   On another note, consulting may be an interesting may for you to go.   You could work in a field (bio/pharma) that requires industry knowledge. You'd be quite valuable to a Deloitte, McKinsey, or something of the like.   Best of luck!


I grant your point about Lyft and Uber possibly cutting rates once everyone begins tipping. However, [research shows](http://therideshareguy.com/rsg-2017-survey-results-driver-earnings-satisfaction-and-demographics/) that Lyft drivers earn more and are more satisfied with their jobs. That's the kind of company I want to be supporting.


That's a completely false statement. You really should read something for yourself instead of parroting misinformation. Per the US Energy Information Administration's 2015 report, more than 50% of all subsidy money ($15 billion of just less than $30 billion) is for renewables while producing less than 15% of energy with solar accounting for a whopping 0.005% (rounded up).   https://www.eia.gov/analysis/requests/subsidy/pdf/subsidy.pdf  By contrast, liquid petroleum and coal received only ~$3.4 billion in subsidies produced 66% (rounded down) of energy.   The moral of the story is: just because you want something to be true really badly doesn't mean it is.


You think your profile is private?  You might be able to lock down who can see what but when you like things on facebook there is nothing private about that. facebook sees it, your friends will see it, and the owners of the page you liked will see it.  That feature is a major part of how facebook does business.  You should probably delete your account on fb.


Hot damn, I wish there were more democrat assholes that would happily announce they'll fire people if Romney goes into office, because neither really affects their business at all.  Actually, Romney would be worse, because he wants to make it illegal to discriminate and illegal to have a waiting period but also not require people to buy insurance.  I will wait until I get sick to buy insurance, then cancel right after I'm well. It'll be really cheap and mean I pay in less (and so will everyone else, because it would be fiscally stupid to not do it) than I take from the pool.


> Same in Switzerland as far as I know  In Switzerland it is a regional matter and in most regions not possible. The few that allow it also tend to require a justification and/or let you opt out (of what is in my mind a disgusting breach of data protection); Zurich is a case in point - you can opt out.


Any bank that lends Cristina Fernández de Kirchner or any Argentinian government any money would be further ahead to just use that money as kindling to roast marshmallows over. At least they'd get some heat and light and toasted marshmallows for their trouble. Argentina has defaulted or forced major haircuts on bondholders eight times since the 1830s.


This is great! I'm not a CPA, but work in finance. As such, my course/professional work is focused more on the economic and profitability aspects of transfer pricing. As you might imagine, it tended to analyze corporate strategy decisions under various cost allocation models, which you thoroughly discuss.  I would agree with the statement that it is based on the matching principle but would like to add that transfer pricing is interesting as it falls under several fields: accounting, finance, and economics. Fundamentally it is based on the matching principal, but it's real world applications are based on all three (it's often used to determine divisional and even individual sales peoples profitability; as is the case with bank related funds transfer pricing on stuff like time deposits). In this case, the correct accounting principal allows you to, when done properly, better understand the economics, strategy, and operations of an organization.   In effect, when done correctly, it provides transparency for strategic decision making to executives. As I said, since my coursework tended to focus more on that aspect, I definitely have a natural tendency towards it.  This is an amazing explanation (esp. about interest on M&A bridge loans, I get that) of the more detailed stuff! Truthfully, I'm not as familiar with it and was just trying to show more of the conceptual than nitty-gritty.   Thanks for the reply!


I live in suburban Washington DC.  The houses in my old neighborhood that  used to sell for $500K to $600K were renting for about $2,500 because that's all the market could bear.  My mortgage was about $3,100 but I could never have rented it out for that.  Owners were taking a loss every month just to keep the house.  Like I said earlier though, that same house is now only worth $328K.  They're still renting for the same $2,500 per month that they did before the value plummeted.   I did downsize a bit when I moved to my new house.  Went from 4 very large bedrooms to 4 moderate bedrooms (1 is kinda small) and went from 3 bathrooms to 2.  But the plot is much larger now than my previous house.  Before felt like a McMansion and now it feels like a cozy cottage but I'm sure a lot of that is my perception of the whole situation.


The best way to invest in college for your kid is to buy an investment property and rent it out. You might think I am really crazy to ask you to you to buy a real estate property when everyone is running from real estate.  Go where others are running away from it. Look where others are not looking. Find out the need for a decent rental property in your city or county and start following the real estate market to understand the real activities including the rental market. I would say follow it for 6 months before jumping in with any investment.  And manage your property with good tenants until your kid is ready to go to college. By the time your kid is ready for college, the property would have been paid off by the rents and you can sell the property to send your kid to college.


When you buy a stock, you become a partial owner of the company that the stock is for. As the company is valued at a higher or lower amount, the stock will reflect that by gaining or losing value. You still own that stock. For example, if you bought a stock for $10 per share and next week it is worth $8 dollars per share, the only loss incurred is on paper. You do not have to pay the difference (which I think is what you are asking?) and will only physically lose that money if you sell at that point. Similarly if that stock becomes worth $12, you have only gained money on paper and can only physically see it if you sell at that point.


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">i have rarely had a ""oops, we overbooked and you get a Hyundai Accent"" experience  I was thinking the same thing. The only time I've ever been downgraded instead of upgraded was because I was on a tight schedule and couldn't wait for someone to return a larger vehicle, so I ended up taking a Nissan Versa because it was pretty much the only thing available."


Call up vanguard and tell them you want to do a rollover.  They walk you through the process.  Spend some time on reading up on asset allocation and benefits of indexing.   1.5% every year is steep and what do you have in return?  The advisor's word that he'll make it up.  How much did he manage to return during the last lost decade?   It's a lose-win situation.  He'll get his 1.5% no matter how the market does but that's not the deal you are getting. Go with Vanguard.  You are already thinking correctly - diversification, rebalancing, low cost!


There are lot of options. I personally avoid keeping money in bank accounts and invest in one of the funds. It's just my personal opinion, you can ask your Ulamas


> You may be willing to pay much more, but not everyone is willing.  From my experience, the great majority of Americans aren't willing to pay anything above the cheapest possible price, even if they know that this means that the people who actually make the product for them are being brutally exploited.


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No, I want you to sum up the situation for me in your own words. I want to see that you have a correct understanding of what it is you're arguing about. Until then, you're just Brad Katsuyama's shill (to use your own words).


I do not quite understand your point..  Say you repeal a tax, without reducing public spending. Then if you analyze the economic impact, that does not fairly represent the impact of the tax, now does it?  Just think of it this way:  Increasing the wealth tax and increasing government spending =- Reducing the wealth tax and -reducing government spending-  What do you think?


https://personal.vanguard.com/pub/Pdf/sai059.pdf?2210128720  your colleague's right.  *The Agreement provides that the Funds will not contribute to Vanguard’s capitalization or pay for corporate management, administrative, and distribution services provided by Vanguard. However, each Fund will bear its own direct expenses, such as legal, auditing, and custodial fees. In addition, the Agreement further provides that the Funds’ direct expenses will be offset, in whole or in part, by a reimbursement from Vanguard for (1) the Funds’ contributions to the cost of operating the underlying Vanguard funds in which the Funds invest and (2) certain savings in administrative and marketing costs that Vanguard expects to derive from the Funds’ operations.* **The Funds expect that the reimbursements should be sufficient to offset most or all of the direct expenses incurred by each Fund.** *Therefore, the Funds are expected to operate at a very low—or zero—direct expense ratio. Of course, there is no guarantee that this will always be the case. Although the Funds are not expected to incur any net expenses directly, the Funds’ shareholders indirectly bear the expenses of the underlying Vanguard funds.*  It's basically a gamble...


WOW . . .really WOW!!!  They grew the Fed balance sheet from 800 Billion to 4.5 trillion by buying up every bad debt and funny money contract that the banking sector had fraudulently entered into . . .in spite of the fact that every economist in the world told them that socializing the debt was bullshit . . .they gave their banker buddys trillions of dollars of tax payer money . . .this money never entered the real economy and remain tied up between the Fed and the banks . .the real economy never grew, inflation never picked up and the wage and income gap grew and the Banks got richer and everybody got poorer and now they are going to unwind US 4.5 trillion . .whatever the fuck that means, bcause nobody is buying those toxic assets because they have no value . .not then and not now.  If the banks buy it back they are right back where they started with 4.5 trillion of bad debt.   So all it could mean is they are going to write it off as a loss and that would mean they have been lying to the American public about what great profits and have mean while transferred US 4.5 trillion free money at tax payer expense to the banks.


"Whole life is life insurance that lasts your whole life.  Seriously. Since the insurance company must make a profit, and since they know they will always pay out on a whole life policy, whole life tends to be very expensive, and has lower ""death"" benefits than a term policy. Some of these policies are ""paid-up"" policies, meaning that they are structured so that you don't have to pay premiums forever.  But what it amounts to is that the insurance company invests your premiums, and then pays you a smaller ""dividend,"" much like banks do with savings accounts. Unless you are especially risk-averse, it is almost always a better decision to get an inexpensive term policy, and invest the money you save yourself, rather than letting the insurance company invest it for you and reap most of the benefits. If you are doing things properly, you won't need life insurance your whole life, as retirement investments will eventually replace your working income."


The 2 and 20 rule is a premium arrangement that hedge funds offer and venture capital funds offer, and they also offer different variations of it. The 2 is the management fee as percent of assets under management, the 20 is the profit cut, which they only get if they are profitable. There are 0/20, 1/15, and many variations. You're assuming that nobody offers this arrangement because it isn't offered to you, but that's because nobody offers it to people that aren't wealthy enough to legally qualify for their fund. When you park 6 or 7 figure amounts in bank accounts, they'll send your information out to the funds that operate the way you wish they operated.


">Most jobs have fairly standardized raw inputs.  No, in fact, *most* jobs do NOT have such things.  There are often ""idiot managers"" who may *think* they can break everything down that way -- but they are a product of academia (MBA's) and really don't have a clue what is actually going on, or how to actually manage anything."


is it possible to file that single form aside from the rest of my return? Turbotax will generate all the forms necessary to file your return. I recommend you  access these forms and file them manually. According to the IRS in order to report capital gains and losses you need to fill out Form 8949 and summarize them on Form 1040 D. Add these two forms to the stack that turbotax generates. Add the total capital gains to line 13 of the Form 1040 which turbotax generated, and adjust the totals on the form accordingly.


I almost agree. I am not completely sure about the ownership of stock, but to have the majority ownership of any company you must own more than 50% of a company's outstanding shares. Although a board in majority, could out vote a majority shareholder in most cases depending on the company policy regarding shareholders and the general law of the country, and to how the company is managed.


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"Since the other answers have covered mutual funds/ETFs/stocks/combination, some other alternatives I like - though like everything else, they involve risk: Example of how these other ""saving methods"" can be quite effective: about ten years ago, I bought a 25lb bag of quinoa at $19 a bag.  At the same company, quinoa is now over $132 for a 25lb bag (590%+ increase vs. the S&P 500s 73%+ increase over the same time period).  Who knows what it will cost in ten years.  Either way, working directly with the farmers, or planting it myself, may become even cheaper in the future, plus learning how to keep and store the seeds for the next season."


I've never thought about the difference in goals between manufacturers and local businesses...Hmmm, your knowledge about the facebook ad model might be able to help me with a personal project I'm doing.  If you care to take a whack at it, read on:  What interested me before the IPO was the debate about the **value** of FB's ad model.  To get  a better idea, I wanted to use regression modeling test the efficacy of advertising on Facebook compared to traditional media (TV, magazines, banner ads...).  I haven't quite got how the model is going to *prove* the relative effectiveness/ineffectiveness of Sponsored Ads and Fan Pages.  This really depends on the kind of independent variables I'm able to draw from the data sets I can find and this a lot of this information is hard to come by...  Any pointers on where I should look?


How much do we know about Nancy Sharp? The author of 2 magnificent books – ‘BECAUSE THE SKY IS EVERYWHERE’ and ‘BOTH SIDES NOW: A TRUE STORY OF LOVE, LOSS AND BOLD LIVING’. She is also a renowned Keynote speaker and Bold Living expert. Winner of eight book honors, she is globally followed and heard for her communication speeches.


There are a couple of reasons that a person might choose to use insurance even if they could handle the financial loss if something went wrong. They know their risk better than the insurance company. While it might seem odd at first glance that an individual can be better at assessing risk than a large company with thousands of actuaries. There are limits to the amount of knowledge that an insurance company can have or use to price their insurance products. For instance if you were a very aggressive driver but didn't have any recent tickets or accidents because you were in college and didn't have a car on a regular basis, but now you have a job and drive 30 miles to work every day. You know your risk is relatively high but the insurance company sees you as relatively low risk and aren't able to price that extra risk into your premium. Just because a person can survive financial after losing something like a car or a house doesn't mean it isn't desirable to pay a small price to mitigate that risk. If you are using your savings to pay for an emergency then that money needs to be semi liquid in case you need it limiting your investment options. Where as if you purchase insurance you pay a small amount of money to be able to invest the rest of your money. Liquidity is a big deal particularly if you are a small business and investing into your business where your money can make your more money but you may or may not be able to access that money very easily.


>  If you can't grasp why bankruptcy has different implications, and thus is handled differently, for incorporated businesses, then (facepalm) you don't get it.  Care to explain?  AA screwed over their creditors by filing Chapter 11 - and will likely screw them over with more bankruptcy filings.  A homeowner walking away from an upside-down mortgage screws over his creditor - the bank.  Why is one action more moral than the other?  On a side note, house price collapses hurt individuals a lot in this country given that the home represents the majority of most people's wealth.  If your house falls 50%, you are hurt for life.  You might have thought after you paid it off you could live it in the rest of your life with the aid of a reverse mortgage.  Not as easy with such a pricing collapse.


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The difference is whether your options qualify as incentive stock options (ISOs), or whether they are non-qualifying options. If your options meet all of the criteria for being ISOs (see here), then (a) you are not taxed when you exercise the options.  You treat the sale of the underlying stock as a long term capital gain, with the basis being the exercise price (S). There is something about the alternative minimum tax (AMT) as they pertain to these kinds of options.  Calculating your AMT basically means that your ISOs are treated as non-qualifying options.  So if your exercise bumps you into AMT territory, too bad, so sad. If you exercise earlier, you do get a clock ticking, as you put it, because one of the caveats of having your options qualify as ISOs is that you hold the underlying stock (a) at least two years after you were granted the options and (b) at least one year after you exercise the options.


Yes but your janitor make 100k because he is in NYC. He would make a lot less elsewhere.   That said is ludicrous that the country should cater to NYC issues. NYC should fix its issues instead.   Cost of living differences are the big equalizer among states and areas. I mean I'd love to live in NYC but cannot afford to. So you move to somewhere where you can realize your other goals. If for the janitor NYC living is the  dominant goal then he gives up the tax breaks for the higher income.  You can debate if this is a fair trade or not. But the trade off existence is not automatically bad.


I think the chances of them changing the rules without grandfathering in people of retirement age (pun intended) are pretty small. The general rule of thumb on this issue seems to be to wait to get the full amount if you have sufficient resources that you don't expect to need the money earlier.  That is, unless you have some reason to not expect much longevity (family history of dying young, current medical condition, etc.) Ultimately, however, this is a big financial decision that is best made with the help of a good financial adviser/actuary. There are a large number of variables to be considered.


1. Have enough funds to run the business and pay yourself the first year, plus 30%  2. Know your market, the good and the bad, then develop your niche.  3. Don't just sell merchandise. Sell service. Anyone can sell merchandise.  4. Listen to your customers, but don't follow their advice. Customers have agendas.  5. Set company and personal goals. If you can't meet both, you'll be miserable.  6. Plan and control your inventory (hold as little inventory as feasibly possible).  7. Market your business (understand the differences between Marketing, Advertising & Sales).  8. Keep it simple and focused (expect to work 60+ hrs a week for the first 2 to 3 years).


Be honest, and let your expectations be known. BUT ....and I can't stress this enough...you need to let them know your willing to work just as hard as they are. Work with them, help them with their jobs every now and then so you know A) what  goes into their work and b) how they work. All ppl are different and respond differently to things but they will be more respectful of you if they know you don't think they are below you and that your a hard worker. Also....a thanks and good job go a long way....


"I was a school board member and district negotiator for the teacher contract.  I came off the board in the last couple years.  In this case, it doesn't seem like tenure is the issue.  This is a seniority issue.  Teacher unions, like most unions are strict seniority shops.  That is basically the only thing that matters.  Tenured teachers can be let go without cause essentially only for budget reasons.  Districts/schools will identify which grade level (for elementary) or what program/subject the reduction in staffing will occur.  The lowest senior person is let go first regardless of skill or past performance.  Interestingly, if a teacher is certified to teach in more than 1 subject area, this can also cause chaos.  If that same teacher is the one who is reduced from a given department and they have higher seniority than the department where they also have certification, they will bump that other teacher thus taking their job.  Let's say you have a teacher who is certified in science and math in the high school setting.  They are number 90 out of 200 on the seniority list.  This teacher may have been teaching science for 10 years, but the other teachers in that department are all higher on the seniority list.  The lowest senior teacher in the math department is number 100 out of 200.  If the district identifies that a reduction of 1 science teacher is necessary, that teacher gets to bump the math teacher out of the job (thus getting laid off) so that they can fill the math slot even though they haven't taught math in over 10 years.    While not in all cases, often the teachers union negotiators set the stage for these type of layoffs.  Usually districts have only so many resources to go around.  Their funding is set for them by the state and any local operating levy needs to be voted into place - which can be difficult.  Also recognize that the teachers at the table in the negotiating session are the more senior teachers in the district (since they have been around longer) and are much less likely to lose their jobs due to staff reductions.  If the teachers union negotiates a raise that is higher than the district can support with the same number of teachers, the number of teachers must be reduced.  If you think the negotiators are there for all the teachers you are wrong.  One of the teachers I negotiated with once said the following, ""We would rather a higher compensation package at the expense of teacher reductions.""  The system is designed to defend teacher compensation and provide job security as the first priority...not to provide the best education for our kids.  As with this teacher, they are losing a great asset because an outdated and terrible system was being upheld."


The thing is that employment is a part of a loop, not an end in and of itself.  You work to make money.  You make money to spend it.  Other people work to give you what you spend money on so they can get that money etc.  If your problem is that there isn't enough production to meet demand then employment will rise and people will meet that demand.  On the other hand if something external disrupts the cycle and you get mass unemployment for some reason that will depress demand since all those people don't have money to spend anymore.  Thus there is lower demand for services since there is less money to pay for those services.  This is the downward spiral of a Depression.  My worry is that if we keep supplanting all the manual labor jobs (eventually including most retail in this) then who's going to be buying those services?


Honestly, there's one studio that's releasing a blockbuster with any kind of cadence (Ubi) and they do it by feeding the gaping maw of production with the fresh bodies it craves.  On top of that, because games take so much time to play consumers are much much less tolerant of stale ideas. The pressure to innovate is tremendous. Delivering, say, the video game equivalent of TMNT will not yield profits.


Since you aren't contributing enough to count your parent as a dependent, there is no tax benefit to you for helping them. Gift tax is paid by the giver when total gifts to an individual exceed $14k/year and the lifetime exclusion of $5.49M has been exceeded. If your annual gifts exceed $14k (subject to change, as is the lifetime exclusion amount) then you have to file Form 709 with your return, but you will not pay gift tax unless you've both exhausted the lifetime exclusion and gift over $14k/year. If you pay medical bills directly, that amount does not count toward the $14k/year limit, so you could likely assist in excess of $14k/year and still avoid having to file the extra form. Most assistance programs are income-based, and gifts do not count toward income, but you'll want to check on the specific requirements for programs they are enrolled in.


"If you're talking about a single stock, you greatly underestimate the chances of it dropping, even long-term. Check out the 12 companies that made up the first Dow Jones Industrial Average in 1896. There is probably only one you've heard of: GE. Many of the others are long gone or have since been bought up by larger companies. And remember these were 12 companies that were deemed to be the most representative of the stock market around the turn of the 20th century. Now, if you're talking about funds that hold many stocks (up to thousands), then your question is a little different. Over the long-term (25+ years), we have never experienced a period where the overall market lost value. Of course, as you recognize, the psychology of investors is a very important factor. If the stock market loses half of its value in a year (as it has done a few times), people will be inundated with bad news and proclamations of ""this time it's different!"" and explanations of why the stock market will never recover. Perhaps this may be true some day, but it never has been thus far. So based on all the evidence we have, if you hold a well-diversified fund, the chances of it going down long-term (again, meaning 25+ years) are basically zero."


Here's Chicago's medallion prices for June: http://chicagodispatcher.com/clients/chicagodispatcher/July2014MedallionPrices.pdf  The people that buy medallions and the ones who drive the cabs are not usually the same people. The medallion owner typically buys a vehicle and leases it to a driver. That means the medallion owner has to make back his investment, along with maintaining and insuring the vehicle. The drivers typically pay for the gas.  Now here's New York City: http://www.nyc.gov/html/tlc/downloads/pdf/july_2014_medallion_transfers.pdf  $1m for a medallion. Unless you have a lot of cash sitting around, you're taking out a loan to buy these medallions, which means loan payments and interest.  Do you still not get how this creates a small margin?


Summarized article: Recent mishaps causing supply disruptions at 14 California refineries caused wholesale gas prices to reach an all-time high of $4.39 per gallon.   Local gas stations increased prices to 30 cents or more per gallon overnight, with some stations charging as much as $5.79 per gallon.   Some stations chose not to buy high-priced wholesale gas for fear they wouldn't be able to sell it. While others shut off their pumps after they ran out of the gas they bought at lower wholesale prices.  Some of the refinery mishaps include an oil pipeline problem, a power outage at Exxon Mobil Corp's Torrance refinery and a shutdown of the crude distillation unit at Chevron Corp's Richmond refinery.   It is unknown when wholesale prices will come down but one solution may be to allow refineries to switch over from the summer blend to the cheaper winter blend earlier than planned.    The California Energy Commission is considering the idea but notes an early switch over could impact air quality. The summer blend reduces evaporation of pollutants during warm weather which would be less damaging to air quality in California's current heat wave.  * For more summarized news, subscribe to the [/r/SkimThat](http://www.reddit.com/r/SkimThat) subreddit


Sure he will, if he's working for 12 bucks already, he fucking needs thats job, he cant afford to get fired. They guy working for a twenny, he's not really all that likely to work his ass off. And what's there to work ass off in retail? Conditions are worse at the minimum wage places already, the richer guy is definitely doing less.


I say to always say yes when asked to loan money to a friend or family member as long as you have the money to do it with. That is the key: having th emoney to do it with. And - don't expect to get it back ever. If you do, great. When you don't, your expectation was met. Although not often, I've lent money to friends and most of the time have been paid back. $10, $300, more. For the times when I was not, I do remember but I don't hold it against the person. Money is only money, after all. Friends are precious and worthy of your aid, support, and respect. If they weren't, then one must ask if they are really a friend. - I have also had to borrow money once for a non-trivial amount. My family, who can easily afford it, refused but a friend helped me at a critical juncture. I offered to make a contract but my friend said no, pay me back when you can. I have tried to start paying back a couple of times but my friend refused telling me to wait until I was more financially stable. - If I am ever lucky enough to be in the position my friend is in, I will emulate this behavior and do the very same thing - and love doing it all the while.


Without getting into whether you should invest in Gold or Not ... 1.Where do I go and make this purchase. I would like to get the best possible price. If you are talking about Physical Gold then Banks, Leading Jewelry store in your city. Other options are buying Gold Mutual Fund or ETF from leading fund houses. 2.How do I assure myself of quality. Is there some certificate of quality/purity? This is mostly on trust. Generally Banks and leading Jewelry stores will not sell of inferior purity. There are certain branded stores that give you certificate of authenticity 3.When I do choose to sell this commodity, when and where will I get the best cost? If you are talking about selling physical gold, Jewelry store is the only place. Banks do not buy back the gold they sold you. Jewelry stores will buy back any gold, however note there is a buy price and sell price. So if you buy 10 g and sell it back immediately you will not get the same price. If you have purchased Mutual Funds / ETF you can sell in the market.


"As Yishani points out, you always have to do due diligence in buying a house. As I mentioned in this earlier post  I'd highly recommend reading this   book on buying a house associated   with the Wall Street Journal - it   clearly describes the benefits and   challenges of owning a house. One key   takeaway I had was - on average houses   have a ""rate of return"" on par with   treasury bills. Its best to buy a house if you want to live in a house, not as thinking about it as a ""great investment"". And its certainly worth the 4-6 hours it takes to read the book cover to cover."


PROS: Price stability, confidence in the market, manipulation of money supply for direct monetary policy transmission, not having politicians conduct short sighted policy so they can get reelected, etc.  CONS: No checks/balances, few people control of the largest economy in the world, not democratic


My original statement was answering onefingerattack's query, not strategizing for institutional investors. It's very easy for instituationals to move money across borders into and out of treasuries, and to purchase gold near spot and vault it. For a retailer like onefingerattack, getting money into bitcoin is going to be much easier than opening a foreign bank account, exchanging, and transferring funds.  And my point wasn't to say that this was necessarily the best strategy because it is impossible to know. I just linked to an article about the fact that this strategy is being used by other Europeans (although, I think it's more by Greeks who worry about their Euros being nationalized and replaced with a drachma).


"I would say people are generally talking about the prime lending rate. I have heard the prime lending rate defined as ""The rate that banks charge each other when they borrow money overnight."" But it often defined as the rate at which banks lend their most creditworthy customers. That definition comes with the caveat that it is not always held to strictly. Either definition has the same idea: it's the lowest rate at which anyone could currently borrow money. The rate for many types of lending is based upon the prime rate. A variable rate loan might have an interest rate of (Prime + x). The prime rate is in turn based upon the Federal Funds Rate, which is the rate that the Fed sets manually. When the news breaks that ""the Fed is raising interest rates by a quarter of a point""  (or similar) it is the Federal Funds Rate that they control. Lending institutions then ""fall in line"" and adjust the rates at which they lend money. So to summarize: When people refer to ""high"" or ""low"" or ""rising"" interest rates they are conceptually referring to the prime lending rate. When people talk about the Fed raising/lowering interest rates (In the U.S.) they are referring specifically to the Federal Funds Rate (which ultimately sets other lending rates)."


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While you are correct, engine tuning isn't as nefarious.  A common issue is someone who has no business buying a sports car will go out and buy a sports car.  And, if they are not tuned to drive like a sedan, they will get brought back the next day.  You will have people that spin out when the light turns green, just because their car has 500+hp and they don't know how to drive it.  So, paying for tuning, sounds more like custom software, than an on/off switch of the batteries.


There have been a lot of startups that tried to tackle this same space [Flytenow](http://techcrunch.com/2014/06/20/uber-for-x-in-a-tiny-plane/), and [Blackjet](http://allthingsd.com/20121026/people-behind-uber-want-to-do-the-same-thing-for-private-planes-with-blackjet/) for example. The problem is that there is a prohibitively high cost per use and the private jet world lacks the same latent supply issue that Uber exploited in the town car industry (lots of town cars were sitting around during the day because they only had to do one or two drop offs).   Wouldn't be betting on this one suddenly breaking the trend.   Edit: Didn't notice that the article already mentioned competitors (including Blackjet) but I am not seeing this company's competitive advantage (aside from not doing the membership-sign up scheme). Additionally, I am not entirely convinced that people booking PRIVATE charter flights want to sell their unused seats. Isn't the whole point of a private flight that you don't have strangers on it?


Estate agents need the amount of deposit you will put down because they want to be able to assess the viability of your mortgage plans. If you have a high deposit (or are a cash buyer) that makes you an attractive buyer, and they can use it as leverage in your favour. It may also give them an idea of whether you could afford to pay more if you found a more expensive house you really liked.


This is why business leaders and government leaders need to think and act much differently. Caring about the bottom-line and caring about the welfare of people are 2 completely different objectives.   This is why I fear a Romney presidency. The man has proven time and time again how little he cares about people especially when money is on the line.   note: Not liking Romney doesn't mean I like Obama.


There are so many ways to transfer money from Canada to US, so the only problem choosing the most reliable, cheap, and fast way. PS: Interac e-Transfer is unfortunately only available inside Canada. I know nothing about XE.com, so I can't recommend it. There should be other ways to transfer money.


>Personally I think that loans are underused in today's investment world because people are too focused on getting the most out of the few big winners.   I'm not sure what your point is here. The fixed income market alone is about three times the size of equity markets, and this doesn't include credit or mortgage markets.


"The question should read: ""Borrow huge money for speculating"". This is a bad idea on many levels. The lowest rates available will be from time-limited credit card offers, followed by broker margin accounts. Personal loans are going to be higher. My advice: if you insist on throwing your money away, go to Vegas with $40k. At least you'll get some complimentary food and drink."


I can, I obviously can't speak for every field but in mine I don't know a single person making 6 figures or more who doesn't work weekends from time to time.   Now I'm not saying that there at the office on a Sunday at 7am just like every other day. But maybe Saturday morning they're at there computer finishing off something from Friday, and then Sunday afternoon they need to prepare some things for Mondays meetings.   I've received emails from my boss at 4am on a Saturday, I seriously doubt that her boss is at home watching movies or out surfing or something like that.   And yes like you said in your post no one is around to cover them and business is a 24/7 venture. So even though they won't be at work 24/7 they're definitely on call if things go wrong.


Generally speaking, if a business loses money for whatever reason, then that reduces the profits of the business which reduces the tax payable. However if you were holding the assets on a personal basis prior to incorporating the business, the position may become more complicated. For that kind of money some professional advice may be worthwhile.


A lot depends on whether your mortgage payments are interest only or 'repayment' and what the remaining term is on each of the mortgages.  Either way I suspect that the best value for the money you put in will be had by making payments to the larger, newer mortgage.  This is because the quicker you reduce the capital owed the less interest you will pay over the whole term of the mortgage and you've already had the older mortgage for sometime (unless you remortgaged) so the benefit you can get from an arbitrary reduction in the capital is inevitably less than you will get from the same reduction in the capital of the newer mortgage.  Even if the two mortgages are the same age then the benefit of putting money into the one on the new house is greater due to the greater interest charged on it.


"Yes I agree, I remember the British Airways flight I took to Florida when I was 13 for the family holiday and idiots were rushing the gate when they weren't called. Eventually the gate agent got so pissed off he made an example of this stupid middle aged man who was trying to act all entitled in the style of ""LADIES AND GENTLEMEN, THIS MAN HERE IS A PERFECT EXAMPLE OF SOMEONE WHO ARRIVES AT THE GATE WHEN THEIR ZONE IS **NOT** CALLED, AS A RESULT OF THIS YOU WILL BE BOARDING THE AIRCRAFT LAST SIR"" or words to that effect. He tried arguing against a piece of paper, you can't really win...  Also usually gate agents and checkin desks are staffed by airline services companies like Menzies Aviation as far as I know, I'm not sure if that's relevant however."


> The government can stimulate innovation yes, but only at the expense of someone else.  I don't agree with this. There's a very good ROI on investments in innovation. I have applied for subsidies for research and innovation myself. For my government, a ROI of 2000% (!) in 5 years is what they are looking for. But they use a different metric: when I say I create a new job that did not exist that pays 50.000 Euro/year, this is added to the expected profit. New jobs at suppliers and customers are also counted. Everything is taxed between 30% and 50%. So the ROI for the government is there.  The reason innovation in the States is slacking is because the Obama administration failed to invest in research and innovation.  >The actual price of money itself is manufactured  Of course it is.


It’s not misleading at all.  People making the highest incomes already pay the vast majority of income taxes.  Something like 40% of Americans pay zero net federal income tax.  These people have ZERO skin in the game and yet they think they should have a seat at the table demanding more!  The entitlement is sickening.  The current tax regime already soaks the rich.  You can play all the mental gymnastics you want, but you can’t change the facts.


Call them ask for a delay on your $25 per week fee and send them a check and a written letter saying to close the account once the balance to zero.   If they deny your delay of $25 per week fee, send them a express package by Fedex, DHL or the post office.  That should run about $25, so in comparison to the fee its like paying one week. Be sure to close your account and be clear on how to do so from overseas.


You should think of Required Rate of Return in your own terms.   Say a friend tells you that he will give you $ to stand in line and get him tickets to your schools football game. The line is on average two hours long and you DIDN'T plan on going to the game, so you are going out of your way for him. What is the minimum dollar value that you would charge him to stand in line for him? What price would make standing in line worth it?


"This is the best tl;dr I could make, [original](http://www.imf.org/en/Publications/WP/Issues/2017/08/07/Cyber-Risk-Market-Failures-and-Financial-Stability-45104) reduced by 61%. (I'm a bot) ***** > Risk awareness has been increasing, firms actively manage cyber risk and invest in cybersecurity, and to some extent transfer and pool their risks through cyber liability insurance policies.  > This paper considers the properties of cyber risk, discusses why the private market can fail to provide the socially optimal level of cybersecurity, and explore how systemic cyber risk interacts with other financial stability risks.  > The paper concludes discussing policy measures that can increase the resilience of the financial system to systemic cyber risk.   ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/6s97db/imfcyber_risk_market_failures_and_financial/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ ""Version 1.65, ~185649 tl;drs so far."") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr ""PM's and comments are monitored, constructive feedback is welcome."") | *Top* *keywords*: **Risk**^#1 **cyber**^#2 **paper**^#3 **IMF**^#4 **financial**^#5"


You can try manager.io.   It has a desktop, cloud and server edition that should fit your needs.


"If you are interested in a career in algorithmic trading, I strongly encourage you to formally study math and computer science.  Algorithmic trading firms have no need for employees with financial knowledge; if they did, they'd just be called ""trading"" firms.  Rather, they need experts in machine learning, statistical modeling, and computer science in general. Of course there are other avenues of employment at an algorithmic trading firm, such as accounting, clearing, exchange relations, etc.  If that's the sort of thing you're interested in, again you'll probably want a formal education in those areas as opposed to just reading about finance in the news. If you edit your question or add a comment below with information about your particular background, I could perhaps advise you in a bit more detail. ::edit:: Given your comment, I would say you have a fine academic background for the industry.  When hiring mathematicians, firms care most about the ease with which you can explore and extract features from massive datasets (especially time series) regardless of what the dataset might represent.  An intelligent firm will not care whether you arrive at their doorstep with zero finance knowledge; they will want to teach you everything from scratch anyway. Nonetheless, some domain knowledge could be helpful, but you're not going to get ""more"" of it from reading any mass market news source, whether you have to pay for it or not.  That's because  Some non-mass-market news sources in the industry are  These are subscription-only and actually discuss real information that real professional investors care about.  They are loaded with industry jargon, they're extremely opinionated, and (in my opinion) they're useless.  I can't imagine trying to learn about the industry from them, but if you want to spend money for news in order to be exposed to the innards of the industry, then either of these is far better than the Financial Times.  Despite requiring a subscription, the Financial Times still does not cover the technical details of professional trading. Instead of trying to learn from news, then, I would suggest some old favorites: and, above all else, Read everything in the navigation box on the right side under Financial Markets and Financial Instruments."


"I'll try to answer using your original example.  First, let me restate your assumptions, slightly modified: The mutual fund has: Note that I say the ""mutual fund has"" those gains and losses. That's because they occur inside the mutual fund and not directly to you as a shareholder. I use ""realized"" gains and losses because the only gains and losses handled this way are those causes by actual asset (stock) sales within the fund (as directed by fund management).  Changes in the value of fund holdings that are not sold are not included in this. As a holder of the fund, you learn the values of X, Y, and Z after the end of the year when the fund management reports the values.  For gains, you will also typically see the values reported on your 1099-DIV under ""capital gains distributions"".  For example, your 1099-DIV for year 3 will have the value Z for capital gains (besides reporting any ordinary dividends in another box).   Your year 1 1099 will have $0 ""capital gains distributions"" shown because of the rule you highlighted in bold: net realized losses are not distributed.  This capital loss however can later be used to the mutual fund holder's tax advantage.  The fund's internal accounting carries forward the loss, and uses it to offset later realized gains.  Thus your year 2 1099 will have a capital gain distribution of (Y-X), not Y, thus recognizing the loss which occurred. Thus the loss is taken into account.  Note that for capital gains you, the holder, pay no tax in year 1, pay tax in year 2 on Y-X, and pay tax in year 3 on Z. All the above is the way it works whether or not you sell the shares immediately after the end of year 3 or you hold the shares for many more years.  Whenever you do sell the shares, you will have a gain or loss, but that is different from the fund's realized losses we have been talking about (X, Y, and Z)."


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I'm not incredibly savvy on the Indian market but I'm not sure if their electric grid is up to that from what I do know. Where as Diesel is insanely easy to transport...   Not sure if this is news or Politics speaking out of turn. Someone local would have to weigh in on that.


> And here is an example that I am sure you will be thrilled about: eminent domain. It almost always sucks for the land owner, but if done right can benefit society at large greatly.  Eminent domain is unnecessary to build roads and other infrastructure.  You are willing to participate in an unethical act just because it is convenient to a powerful few?


I dont use it yet, but i am building a custom app to run our event staffing business (none of the off the ahelf stuff makes us happy), and we want the option to be able to blast a text to our people when needed, and also to allow them to opt into sms notifications. So i will be building that in.   since you asked for feedback, at 3 cents a text you will get no business. That is 4-5 times the going rate of providers like twillio and aws. The only way you add value is if you offer a small free tier (say 200 sms/month for free) or if you make it super easy for the customer. What i mean by that is, to use twillio or aws requures some development chops - ie, you have to connect to their api. Well, tons of business owners do t even know what that is, so if your service allows some non technical retail owner to collect a list of numbers, dump it into a simple box online (and save for later use) and then format a msg and click send, all from a clean browser experience, that would add value. But i also say that having done zero market research, who knows, such a service may exist already.  Anyways, curious what you thought someone would pay 3 cents a msg for?  Also, if you haven't yet, you should be looking at all of Amazons cloud offerings. If you are building anything technical, look at their Lambda product. It allows super cheap, serverless functions; basically you write the app, call it, and only pay for the time it runs. On demand, highly scalable, and you dont have to maintain a pricey server that might sit idle for houra at a time.


The mental approach should be that you always knew the risk of gambling and it was extra money that you had (or should have had). Now think that the 'horse' race is not over and in the near future it will pick up pace against the others and be back on track.


Yes, there is indeed a great alternative for all European residents: getting a Revolut account. Revolut is a fully-online bank who's main benefits include the lack of fees (with some limits) and a great exchange rate for all currency operations (better than what you would get at any brick and mortar bank in Europe). In your particular scenario it would work as following: This is what I personally use to handle a salary in EUR while living in Czech Republic. Things might change in the future once they run out of investor money, but for now it's the only solution I know for converting currencies without a loss.


A 15% discount does not necessarily mean it is a good investment.  The stock price can go down at any point. 15% discount might mean you are getting a little better deal than the average cat.


Interesting, I know a fair few doctors and lawyers (heck my fiance is a doctor) and it's not that common to earn more than $300k at 30 years old. Maybe it's more common at 50+? I know for doctors it's all dependent on your specialty, for example it's pretty common for surgeons to earn more than $300k but not so much for specialists in other fields such as palliative care or general practitioners. Then again I don't live in America so maybe it's different there.


"Look up DCA. There are tons of drugs that are established, but not legal for off-label uses where they are more effective than new medicines. In fact, there was a recent article on reddit about how most new drugs are less effective than their own error margins. (i.e. 2% reduction in ""x"" with a 3% margin of error)"


depends IB is a huge area, are they quant traders, portfolio construction researchers, ML researchers, data engineers,analysts, software engineers?  One year in $150k is unlikely however if a trader, quant trader or quant researcher, software engineer certainly possible. $1m by 30 good luck I own a recruitment business for IB's, HF's, its not common to earn $1m at a bank, certainly not these days, buyside again very difficult but more likely.   I work with directors/MD's predominantly and Barclays for sure will not pay that by there 30, they have some MD's on million dollar sums but they are not common. They have a hell of a long road before they get there, at Barclays he could be canned in 2 years regardless of his performance.  Citi VP's are capped at $180k base if you perform exceptionally matching bonus realistically between 30-50%of base, though this can vary.  Depending on the role typically goes like this: associate - 2 or 3 years, then VP 3- 5 years, director 7-10 years MD 12-15 years + depending on area, role, bank you join. Each area is different.  If you go into finance research your area it's highly competitive, if you cannot explain your enthusiasm for finance and why you want to do it beside money you will find it hard.  School is not that important JP hires shit tonnes from Baruch and Lafayette College its about your GPA. Learn to code Python, KDB+/Q, C++ and Matlab are decent languages that are universally used.  EDIT - Citi also pay higher than Barclays generally across the board.


At this point, completely useless. In the beginning it was useful to get my foot in the door.   I still do the odd excel macro to automate some kind of analysis or valuation I do, but its like .. twice a year.  So not very useful at this point.  But I'd say that university taught me how to *learn* so its not as much about what i learned, but the process of learning how to learn effectively. Without that I wouldnt have been able to do the CFA, or learn anything else that I had to in order to get here.


"So, you have $100k to invest, want a low-maintenance investment, and personal finance bores you to death. Oooohhh, investment companies are gonna love you.  You'll hand them a wad of cash, and more or less say ""do what you want.""  You're making someone's day.  (Just probably not yours.) Mutual fund companies make money off of you regardless of whether you make money or not.  They don't care one bit how carefully you look at your investments.  As long as the money is in their hands, they get their fee. If I had that much cash, I'd be looking around for a couple of distressed homes in good neighborhoods to buy as rentals.  I could put down payments on two of them, lock in fixed 30-year mortgages at 4% (do you realize how stupid low that is?) and plop tenants in there.  Lots of tax write-offs, cash flow, the works.  It's a 10% return if you learn about it and do it correctly. Or, there have been a number of really great websites that were sold on Flippa.com that ran into five figures.  You could probably pay those back in a year.  But that requires some knowledge, too. Anything worthwhile requires learning, maintenance and effort. You'll have to research stocks, mutual funds, bonds, anything, if you want a better than average chance of getting worthwhile returns (that is, something that beats inflation, which savings accounts and CDs are unlikely to do).  There is no magic bullet.  If someone does manage to find a magic bullet, what happens?  Everyone piles on, drives the price up, and the return goes down. Your thing might not be real estate, but what is your thing?  What excites you (i.e., doesn't bore you to death)? There are lots of investments out there, but you'll get out of it what you put into it."


There is A LOT of dross issuing from the Forbes blogosphere. Some Forbes content remains high quality. But those Forbes sites are like low-rent outbuildings. I feel sad whenever I notice that a Forbes writer who is a good journalist has been sent there.


Good question!  In part, it's just a way of indicating how much we appreciate your time.  Typically institutional review boards want to see some kind of of incentive to participants to approve a study.  In a best case scenario (max accuracy) it works out to about $40/hr - not bad!  And, generally, it's standard practice with these kind of accuracy based studies to have some payoff that increases with accuracy.


At an income of $95K you are on the edge of qualify for $500,000 mortgage (once you have a down payment).   Yes the fastest way to qualify for a $500,000 condo is to save for a down payment.  I am suggesting that might not be the best long term financial plan.  You are only going to qualify for a 30 year term.  You still have a student loan where interest is not tax deductible.   You have put you yourself in a long term debt position and if you lose your job a potential cash flow problem with a risk of losing the condo.   Since you are living at home I would go after that student debt.  Looks like you could pay it off in like a year.  I don't know prices in you area but maybe go in at less than $500,000 for your first home.


True. Pat Quinn tried hard and got no where....and Rauner is having the same issue. This isn't going to be fixed by a governor, it needs proper leadership within the ILGA. Or, stating as a Democratic voter myself, there needs to be more Republicans in the ILGA.


"Here are the issues, as I see them - It's not that I don't trust banks, but I just feel like throwing all   of our money into intangible investments is unwise. Banks have virtually nothing to do with this. And intangible assets has a different meaning than you assume. You don't have to like the market, but try to understand it, and dislike it for a good reason. (Which I won't offer here). Do your 401(k) accounts offer company match? When people start with ""we'd like to reduce our deposits"" that's the first thing we need to know. Last - you plan to gain ""a few hundred dollars a month."" I bet it's closer to zero or a loss. I'll return to edit, we have recent posts here that reviewed the expenses to consider, and I'd bet that if you review the numbers, you've ignored some of them. ""A few hundred"" - say it's $300. Or $4000/yr. It would take far less work and risk to simply save $100K in your retirement accounts to produce this sum each year.  The investment may very well be excellent. I'm just offering the flip side, things you might have missed.   Edit - please read the discussion at How much more than my mortgage should I charge for rent? The answers offer a good look at the list of expenses you need to consider. In my opinion, this is one of the most important things. I've seen too many new RE investors ""forget"" about so many expenses, a projected monthly income reverts to annual losses."


This is a good example of why it's in the public interest to prevent companies like Apple and Google from both hoarding cash and using it to payback investors, rather than use it for R&D and capital improvements. While the mechanism can be argued, we need a way to prevent this accumulation of wealth from sitting idle, or remain with a select few.


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One point that I don't see covered in the other answers yet: How does this affect the months that have 5 weeks. Do we actually lose two weeks a year? I get paid every two weeks, and pay day is always a Friday.  Some months, I get paid 3 times - which is always great.  If you live within your means, it's like an extra paycheck.  All other months, I get paid two times.  How many months a year do I get paid 3 times? 2.  It will always be two, because there are 12 months.  If you get paid twice a month, that's 24 pay checks, which is 2 shy of 26 pay checks - what we would expect if we were paid every two weeks.  That means those 2 extra pay checks need to fall somewhere, and they will be on the months where your pay day is hit 5 times.  For example, in 2014, there are 4 months with 5 Fridays: Jan May Aug Oct  I got paid the second Friday of January, so I only got 2 checks in January.  I will be paid on the first Friday of May, which means I will get 3 checks in May.  My other triple-check month this year is October, so of course I am only going to be paid twice in August.


Well no because the auto dealers aren't on the hook are they, they've offloaded the loans onto some investment vehicle somewhere out in the ether.       Let's be clear this all nets a massive loss. The car has already depreciated by 50% of the retail value, plus you have the costs of recovery and the margin of the guy who's going to re-sell it. And what did you gain? You squeezed a fraction of the price of the car out of the lender who was making minimum repayments before he defaulted.      The upshot is that *someone* just bought a lot of cars that are now worth less than what they paid for them. Who's going to take the hit, Wells and Fargo?


"Don't set mental anchor points. I am saying this as a total hypocrite, mind you, it isn't easy to follow that advice. My suggestion would be to look at each investment and ask yourself, ""Would I buy that at today's price?"", because if you wouldn't you need to sell regardless of whether you are cashing out. Effectively by staying in an investment you no longer believe in, you are giving up the opportunity cost of investing that money in something with a real chance to  give you a return, or in your case whatever purpose you have in mind for the cash."


Square is a company. They need to detail as part of their corporate taxes all of their expenses. The money they collected for you, and sent to you, is not income for themselves. Their tax form included the amount of money they sent you, along with either your Social Security Number of corporate tax id. The IRS computers match the information regarding expenses to the information regarding income. In this case the expense listed by Square didn't match-up with a line of your tax forms for that year. The IRS now sees that as unreported income. If you didn't tell them about other expenses you had, they can only assume your expenses were zero.  Congratulations you have a business. Unfortunately the Federal, state and local governments now will want to know about your business. You may have to fill out multiple years worth of tax forms and other required forms. Yes, you should getting professional accounting and tax help.


"the mortgage interest deduction alone couldn't make this work, but if you realize less income by living off the mortgage funds, then it could definitely reduce your taxes by much more than the cost of the mortgage interest.  particularly, if you are waiting for some future cut-off date (e.g. turning 59.5 and getting access to roth funds, turning 70 and getting social security, simply doing a roth conversion with strategic recharacterization at age 40 and waiting 5 years to get the money out penalty-free, etc.).  and that future date could be quite far off if you only use a small fraction of the total mortgage each year. plus, it is fairly reasonable to assume that equity market returns will outpace mortgage rates, especially if you are ""rich"" and don't need to worry about living on the street even if the market hits unprecedented lows.  while i find most financial advisers to be incompetent (most people really...), i wouldn't write this guy off, just because he left out the specific details that made the strategy work for one particular client."


At any point of time, buyer wants to purchase a stock at lesser price and seller wants to sell the stock at a higher price.  Let's consider this scenario  Company XYZ is trading at 100$, as stated above buyer wants to purchase at lower price and seller at higher price, this information will be available in Market depth, let's consider there are 5 buyers and 5 sellers, below are the details of their orders Buyers List Sellers List Highest order in buyers list will contain the bid price and bid quantity, Lowest order in Sellers list will contain the offer price and offer quantity. Now, if I want to buy 50 Stocks of company XYZ, need to place an order first, it can be either limit or Market. Limit Order : In this order, I will mention the price(buy price) at which I wish to buy, if there is any seller selling the stock less than or equal to price I have mentioned, then the order will be executed else it will be added to buyers list Market Order : In this order, I will not mention the price, if I wish to purchase 50 Stocks, then it will find the lowest offer price and buy stocks, in our case it will be 101. if I wish to purchase 200 Stocks, then it will find the lowest offer price and buy stocks, in our case it will be 2 transactions, since entire request cannot be accommodated in single order Usually the volume(Ask Volume and Offer Volume) being displayed are all Limit orders and not Market orders, Market orders are executed immediately. This is just an example, However several transactions are executed within a second, hence we will get to know the exact value only after the order is completed(executed)


you need minimum of 25k otherwise youll reach a limit. you have to wait 3 days for the sale to clear unless youre on margin. dont buy anything based on idiots on twitter or the internet. however, theres some good people to follow though that know what theyre doing.  dont listen to this guy saying that etrade or those platforms arent fast enough. they all offer level 2 prices so i dont know what hes talking about. successful day traders arent buying and selling a stock every single day. theres not always something to buy and sell...unless youre just gambling, and in that case just go to the casino and lose your money there.


This varies by jurisdiction somewhat but speaking as a Canadian, a small business owner, and accountant (unregistered but some courses and accounting for multiple businesses) this is the answer if you were in Canada. In Canada the cheque cashing limit is 6 months. Therefor any bank will refuse to cash this cheque.  It would be totally morally and legally acceptable to ask for a replacement cheque from your employer. In Canada they would generally have no problem issuing a replacement; in other jurisdictions with differing time limits they might want to cancel the original cheque first.


The way it actually works is that low-but-steady inflation (ie: printing of new dollars without any debt behind them) keeps the debts serviceable.  In real life, unfortunately, too little of the money supply is printed rather than lent into existence.


The people who bought when interest rates were higher, do they get anything out of it? The present value just went up of their Bonds just went up, but it probably evened out to the 3% they were going to get right? Do they make more money selling the bond now, or holding on to it till maturity in PV terms?


Well, we work in the power markets. It might be overkill, but several have PhD although there have been a few with masters or CFA charter. The Risk Operations group is less theoretical and a bit less stringent. I know the society of actuaries has a Chartered Enterprise Risk Analyst credential that might be useful.


True.  My wife is in banking, and typically it is the poorest of the poor that live in the negative and pay all the overdraft fees.  She has one guy that earns just enough to bring him back positive, and then he pulls out all his overdraft allowance and starts the cycle all over again.


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