Depends massively on school quality. The better ranked the school, the more likely finance majors will make more. The best and highest paying jobs will be finance (eg investment banking). But there are plenty of schools that can place kids into public accounting that can't place finance kids into IB.


People who smoke pot every day could certainly be effected at the workplace because they might start to realize how fucked up the world is and THAT will effect their performance on the job more than anything else.  Happy pot smokers are totally capable and competent workers. I've seen it plenty of time first hand, and if you are going to suggest otherwise then you should bring some proof to back it up.  Marijuana doesn't effect a person's competency, it makes them feel good. That is all it does. Other drugs certainly effect competency, Alcohol for example.


If you enjoy driving 5 minutes out of the way to get gas (or mowing the lawn or whatever), then it is perfectly rational to do it.  If not, the value of your time is how much you would value (not necessarily how much you would get paid) doing something else. MrChrister is right, the concept behind the comic is opportunity cost.  In a nutshell, if driving an extra 5 minutes for gas is complete drudgery to you and you would only do it to save money, may as well get a part-time job at minimum wage instead.  If you would rather, say, go watch TV instead of getting that part-time job, then you value TV-watching at greater than the minimum wage, and it is still irrational to drive 5 minutes for the gas. Basically, the answer to your question is to figure out what else you could be doing that offers similar overall pleasure/pain to the task at hand and see how much you would get paid to do that instead.  It doesn't matter that you are on a fixed salary.


Start now.   It's a lot easier to save now than it is to start to save later.


They're not going to do anything about it. Washington needs the debt wheel to keep spinning, or the Dollar will lose its position as the Reserve Currency. Then all hell would break loose. Powerful countries like Japan are going to have to take the initiative. And apparently they are starting to. It has to be countries like Japan because if a weak country tries this, they'll get invaded.


"This is the best tl;dr I could make, [original](https://www.linkedin.com/pulse/ten-years-after-subprime-mortgage-crisis-us-credit-card-walden-siew) reduced by 84%. (I'm a bot) ***** > Things have come a really long way since the dark days of the credit crisis, and it&#039;s really flipped completely the other way where now it doesn&#039;t really take great credit to get a credit card.  > MS: This is definitely a case of history repeating itself, but the thing is we don&#039;t know what the tip of the mountain is when it comes to credit card debt, because when credit card debt started to fall in 2008 in the credit crisis, credit card debt wasn&#039;t the central problem that sent us over the edge.  > MS: We really have seen all levels, from folks with less than perfect credit to folks with 800 credit scores spending more, and that has been part of what&#039;s driven up America&#039;s credit card balances to these record levels.   ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/6txd7q/ten_years_after_the_subprime_mortgage_crisis_a_us/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ ""Version 1.65, ~191596 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*: **credit**^#1 **card**^#2 **debt**^#3 **really**^#4 **crisis**^#5"


"I don't have enough reputation in this community to comment yet, so this ""answer"" is really just a minor furtherance of JoeTaxpayer's comment... THe only thing I might add to this great answer - make all minimum payments, and send all extra available cash to the highest interest card. If OP will pay in full after 6 month, this may make little difference, but it will be a few dollars in his pocket instead of the bank. – JoeTaxpayer♦ Dec 2 at 17:42 ...on Ben Miller's excellent answer. Once you have taken JoeTaxpayer's advice and ordered your cards by interest rate and have paid off the highest interest card first, take that same payment and add it to your next-highest card's minimum payment. Once THAT is payed off, take the combined amounts that you were paying to cards one and two and apply it all to card three along with its minimum payment. You see where this is going. By aggregating your payments thusly, each card will get paid off successively more quickly than the previous one, without increasing your overall payments to the cards, and you are retiring the highest-interest debt first. Your last card will then be paid off in record time, because you have combined all of the payments for cards 1-4. One other amplification: Since we don't know which account has which interest rate, it may be more advantageous to order them by balance, with the smallest first. That way you retire the first card quickly, which gives you a sense of accomplishment, and by the time you reach your highest balance card, you have snowballed all of your payments and are now throwing boulders instead of pebbles at it. You'll have to do that math to see which method has the most benefit. Then roll it all into the car payment. Then roll it into your student debt. Etc."


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Most of the stuff that is making them money and putting them in the spotlight were started before Satya took the CEO chair. Azure, O365 and VSO all started under Balmer and are probably the best things going for them right now but again they are not market leaders in those spaces (maybe O365 but that is forced conversion).  Their OS and licensing schemes are just awful. They will not be a relevant player if they keep performing so poorly with these.


The boomers weren't buying many houses in the 70s, because they weren't old enough.  I'm a boomer,  I know.  When 1970 rolled in, I was still in 8th grade.  There are varying definitions but I think those born 1946 thru 1964 are generally considered boomers.  Use 1955 as the mid-point.    That big housing peak in the early 70s is the Greatest Generation moving out to the suburbs.  They are maybe 50 years old, got lots of equity in their house in the city, they are near their peak in earning power.    A major factor in the 70s was the inflation rate.  With inflation running 9%, it made sense to get a big mortgage.  Inflation would eat away almost 10% of the loan (adjusted to constant dollars) every year and a mortgage payment that was barely affordable would be a breeze in just a few years when you were getting paid 10% more (nonadjusted dollars) every year.


Well thats a fucking surprise . . .Banks win an everybody else gets fucked  But how is that possible?  The Banks were the ones with all the bad debt, the CDOs, the SIVs and what not that was dragging them under, the Fed bought up that shit at AAA valuations even though there was no Market. The Fed dropped interest rates to 0% so these assholes could borrow emergency funds from the Fed even after the bailouts.  They kept rolling the debt over for the last decade while it sat there on the Feds balance sheet.   Now that the Fed is about to write off 4.5 Trillion dollars of this debt  Banks win . .because they got a free lunch with no consequences  This has to be the Bank Heist of the Millennium   Lets give them a bonus for their great performance


I would strongly advise that you do not use Western Union or any other wire transfer service for any money transfer, unless you personally know and trust the recipient of your funds, and the method by which you can communicate the details of the transaction. As was mentioned, wire transfers are irreversible and very difficult to trace to ensure the actual recipient got the funds. In some countries and situations, literally anyone can show up at any Western Union location, correctly recite the details of the transaction (which is proof enough they are the intended recipient) and receive the cash. If the vendor accepts PayPal, then simply set up a PayPal account, linked to your credit card, and pay the vendor that way. This can be done 100% online, assuming you have a valid card.


Five years ago -- Had to return a $30 adapter to Best Buy, with receipt.  Clerk still insisted on scanning my drivers license.  Never been back.  Had to return a $200 tv to amazon.  Free shipping both ways, and they shipped the replacement before they received the defective unit.    Case closed.


Really, I can only endorse the ones that I go to.  Also, I could insert Wendy's, Harvey's or every other fast food joint near me for being better than McDonalds in my experience.  BK only stands out for me because of how well they're run in my area.   I only commented because the article doesn't surprise me based on my experiences.  I'd like to think that consumers make choices based on experience and eventually poor quality leads to loss of market share.


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1) Why wouldn't I be able to contribute to an IRA if it is taxable? Since I am spending the stipend on living expenses, shouldn't it count as income and thus make it eligibile for an IRA? Not any income is eligible for an IRA. Only earned income (compensation) is eligible. From the link - see the second bullet item: For 2015 and 2016, your total contributions to all of your traditional and Roth IRAs cannot be more than: In your case this is not an earned income, since you haven't performed any work. You promised to perform work in the future, but you'll get paid for that work separately. This income is taxable, but doesn't qualify for the IRA. If you have any other earned income, you can use the stipend funds to make the actual deposits, and use that other earned income for calculating the limits.


"Can anyone provide more information on the ""guaranteed minimum agriculture"" mentioned in the article? A quick google search came up empty. Not sure if this is a relatively new concept the author is pitching or something that's been out there for some time."


Without knowing the details of that journey, it's very easy to agree. But successful people have a very strong bias to see themselves as responsible for their success, discounting, ignoring or being oblivious to the factors outside thier control that critically contrubuted. Pointing out the fortunes that assisted undermines an ego they are very vested in protecting.


This is what I ended up doing, listing UCLA at the top, then I listed my CC with my GPA and relevant courses.   Also, as far as work experience, because I haven't worked or interned at big name places, will I be okay? I have references for everything, I just want to make sure I should put it all down.


In short getting funds converted outside of the Banking channel is illegal in India as Foreign Exchange is still regulated. If you show only a credit from your friend's NRE account to your NRO account [note it can't be your NRE account], it would be treated as GIFT and taxed accordingly, else you would have to show it as loan and pay back. You may show the payback in USD. But then there is a limit of Fx every individual can get converted/repatriate out of India and there is a purpose of remittance, all these complicate this further.


My understanding is that when you die, the stocks are sold and then   the money is given to the beneficiary or the stock is repurchased in   the beneficiaries name. This is wrong, and the conclusion you draw from michael's otherwise correct answer follows your false assumption.  You seem to understand the Estate Tax federal threshold. Jersey would have its own, and I have no idea how it works there. If the decedent happened to trade in the tax year prior to passing, normal tax rules apply.  Now, if the executor chooses to sell off and liquidate the estate to cash, there's no further taxable gain, a $5M portfolio can have millions in long term gain, but the step up basis pretty much negates all of it.  If that's the case, the beneficiaries aren't likely to repurchase those shares, in fact, they might not even know what the list of stocks was, unless they sifted through the asset list. But, that sale was unnecessary, assets can be divvied up and distributed in-kind, each beneficiary getting their fraction of the number of shares of each stock. And then your share of the $5M has a stepped up basis, meaning if you sell that day, your gains are near zero. You might owe a few dollars for whatever the share move in the time passing between the step up date and date you sell.  I hope that clarifies your misunderstanding.  By the way, the IRS is just an intermediary. It's congress that writes the laws, including the tangled web of tax code. The IRS is the moral equivalent of a great customer service team working for a company we don't care for.


Royal Bank in Canada can open an account for you in the US through RBC (the US affiliate to Royal Bank of Canada)  I think it's called RBC Access USA.


Medicare, company liability for employee healthcare, increased disability insurance, increased work comp insurance from indirect medical cost increases.... 0.9 could end up closer to 9% or more.  It's not about Rich people being less rich, they'll always be ok, but at a certain point you get deminishing returns on your efforts. If the government deincentivizes having a larger work force or this or that, some companies will simply sell and close shop.   I've seen it happen to hundreds of independent retailers who are in their senior years. Cost overhead is up, margins are down, why put yourself through the stress for less and less??  Don't worry though, the government (that changes every few years) will take care of you!


"There's too much here for one question. So no answer can possibly be comprehensive.  I think little of gold for the long term. I go to MoneyChimp and see what inflation did from 1974 till now. $1 to $4.74. So $200 inflates to $950 or so. Gold bested that, but hardly stayed ahead in a real way. The stock market blew that number away. And buying gold anytime around the 1980 runup would still leave you behind inflation.  As far as housing goes, I have a theory. Take median income, 25% of a month's pay each month. Input it as the payment at the going 30yr fixed rate mortgage. Income rises a bit faster than inflation over time, so that line is nicely curved slightly upward (give or take) but as interest rates vary, that same payment buys you far more or less mortgage. When you graph this, you find the bubble in User210's graph almost non-existent.  At 12% (the rate in '85 or so) $1000/mo buys you $97K in mortgage, but at 5%, $186K. So over the 20 years from '85 to 2005, there's a gain created simply by the fact that money was cheaper. No mania, no bubble (not at the median, anyway) just the interest rate effect. Over the same period, inflation totaled 87%. So the same guy just keeping up with inflation in his pay could then afford a house that was 3.5X the price 20 years prior.  I'm no rocket scientist, but I see few articles ever discussing housing from this angle. To close my post here, consider that homes have grown in size, 1.5%/yr on average. So the median new home quoted is actually 1/3 greater in size in 2005 than in '85. These factors all need to be normalized out of that crazy Schiller-type* graph. In the end, I believe the median home will always tightly correlate to the ""one week income as payment.""  *I refer here to the work of professor Robert Schiller partner of the Case-Schiller index of home prices which bears his name."


I don't think you understand options. If it expires, you can't write a new call for the same expiration date as it expired that day. Also what if the stock price decreases further to $40 or even more? If you think the stock will move in either way greatly, and you wish to be profit from it, look into straddles.


Based on your comment that you were not owed the money, yes you do have to return it.  The paperwork you agreed to when you setup the direct deposit, gives them the ability to reverse the transaction. I do not know the maximum time they have to pull it back, but they could do it without warning. If you spend the money and they pull it back, you will not be warned and you might overdraw the account. They might not notice for days or weeks, depending on how they do their audits. It is unusual for a large company to do this because their time card systems are designed to prevent this problem.  If they are on US government contacts this would be bad for them. If they then billed the government for work that was not done, or they billed the wrong customer, they can face fines if the government finds out. You probably have some time before you have to tell them, but I would wait no more than a business day or two before contacting them. You might find out that they do owe you the money.


The answer will vary person to person and situation to situation.  But the basic concept to always consider is this:  What interest rate am I paying on my debt? 10%? 18%?  And what interest rate am I making on my savings/investment, etc? 3%? 7%?  It won't give you a hard and fast answer, but will definitely let you know if you should take a closer look at it.  I'd suggest talking to a financial planner about it.  Find a fee-based planner that you can turn to intermittently to make sure you are on the right track...not a commission-based planner, a fee-based one.  (with respectful apologies to any commission-based planners who may read this.) My instinct is usually to pay off the debt, try to clean everything up so you don't have anything outstanding that is charging you interest.  Debt is clutter, it's stressful, it can be a reminder of money you wish you hadn't spent.  As long as you have access to money in case of emergency, job loss, etc, get your debt paid off and keep it paid off.  You'll sleep much better.


Sometimes what is holding us back are internalized barriers which don't really exist. Sometimes it is possible to pull yourself up by your bootstraps if only you try. But I think conservatives underestimate the difficulties of following a new paradigm.   I've become fascinated by this topic because it ties in with my thoughts on visionary thinking. What is it that allows some people to break out of rigid patterns of thought, i.e. routines? Researchers in artificial intelligence are developing interesting theories on how to train neural networks to find new possibilities quicker. Some of this research might apply to the human mind and how creativity works.  Anyway, I don't think people can see a way out of poverty when you only present them with hypothetical possibilities. I think we need mentoring programs and apprenticeships. People can only follow a new paradigm when they have an example before them. In other words, if they can do it, I can do it. But when nobody around you is doing it then you are not going to give the possibility much weight. No observations support that optimism.


Wow, so many idiots. Everyone has a nice fancy car that costs $300/month and cable and fancy clothes, and half of them are in debt. Pathetic. No sympathy whatsoever. I live frugally, which is precisely why I have a large surplus.


Nobody is going to stop you if you want to try that. But you should keep in mind that you have to invest a lot in getting the best hardware you can lay your hands on, best fail-safe connectivity to the exchanges, best trading algorithms and software that money can buy and loads of other stuff. This all needs quite a big amount of upfront investment without guaranteeing returns. That is why you see institutions with deep pockets i.e. banks and trading firms only involve themselves in HFT.


"I invite you to take the best existing ""AI and video recognition"" to I-35 in S. TX, mile markers 158 to 168, either direction, and then report back on how ""road upgrades to support self-driving cars are unnecessary"".  The correct path through these construction zones is the *lowest-contrast* set of markers. And the section has been under construction since the '90s in one form or another."


"Translation : Funds managers that use traditionnal methods to select stocks will have less success than those who use artificial intelligence and computer programs to select stocks.  Meaning : The use of computer programs and artificial intelligence is THE way to go for hedge fund managers in the future because they give better results.  ""No man is better than a machine, but no machine is better than a man with a machine."" Alternative article : Hedge-fund firms, Wall Street Journal. A little humour : ""Whatever is well conceived is clearly said, And the words to say it flow with ease."" wrote Nicolas Boileau in 1674."


Most in-state colleges have tuition around 7k / yr. Add room & board on top of that, call it another 10k (500/mo for room, 300/mo for board). You're realistically looking at 20k / year, total, for a good, state university.


No one here has mentioned electronic shavers. I purchased one for about $120 two years ago. It's still going strong and I've only had it professionally cleaned one time. I also find this method to be more time efficient as compared to shaving with a blade- I live in Toronto and commute to work and it is not unusual to see men shaving while sitting in their cars in high density highway traffic. If I'm keeping this answer generic, there is also the added benefit of lower water consumption with this method. However, this is potentially negated by the cost of electricity used to charge the shaver.


I ended up getting a letter in the mail a while later from Florida Treasure Hunt, and I did end up getting something from it. This brings up a very interesting find: Florida Treasure Hunt must first sell the listings to third-party companies to see if they can get your business. That's the only explanation I have for what happened.


"Have you ever read a TOS. All of that can be covered.  ""We are not responsible for the use of this app or the bla bla bla.""  Payment is not built into the app, there is plenty of other methods of payment.   https://arcade.city/ was pointed out by another user."


/u/Dexter0_0 - Additionally, nominal dollars should be adjusted for inflation using the [core PCE price deflator](https://fred.stlouisfed.org/series/DPCCRG3A086NBEA). For instance, $5,000 in 1944 (when Mr. Buffett was 14), would feel like $48,000.  /u/jaasx - the trailing off in the later years is more likely do to the difficulty of earning high rates of returns on large piles of money (i.e. diminishing marginal returns). [Here are Mr. Buffett's own words](https://valuebin.wordpress.com/2011/01/27/warren-buffett-on-investing-small-sums-of-money/), and can be seen in the stock price of Berkshire Hathaway (appreciating more slowly in recent decades than in the '70s & '80s).


You should ask a customer service rep how much you'll net if you close the account. There will probably be a hefty surrender fee. What you get back shouldn't be taxable as its a return of your own money, not a gain.


"The one thing that should never be automated is PR outreach.  I can usually tell when someone is using an automatic spamming platform to send press releases, because they go in the bin marked ""why the fuck did you send that irrelevant shit to me?"".  Good PR is about relationships, not databases."


lol- yeah, I know how banks work. My point is EVERY transaction should be recorded somewhere. Banks have both internal and external auditors who's only job it is to monitor the transactions to make sure everything adds up. It just doesn't make sense that the CEO of the company would have so little idea of what is going on. Shades of Enron to me.


I believe its relevant, because, depending on what you believe your view of what level of taxation is acceptable, if any, is affected.  Someone who believes in big govt will weigh the impact on individuals take home pay much less than someone who doesn't believe in big govt.


"Like a lot of businesses, they win on the averages, which means lucrative customers subsidize the money-losers.  This is par for the course.  It's the health club model.  The people who show up everyday are subsidized by the people who never show but are too guilty to cancel. When I sent 2 DVDs a day to Netflix, they lost their shirt on me, and made it up on the customers who don't. In those ""free to play"" MMOs, actually 95-99% of the players never pay and are carried by the 1-5% who spend significantly.  In business thinking, the overall marketing cost of acquiring a new customer is pretty big - $50 to $500. On the other side of the credit card swiper, they pay $600 bounty for new merchant customers - there are salesmen who live on converting 2-3 merchants a month.   That's because as a rule, customers tend to lock-in.  That's why dot-coms lose millions for years giving you a free service.  Eventually they figure out a revenue model, and you stay with it despite the new ads, because changing is inconvenient. When you want to do a banking transaction, they must provide the means to do that.  Normal banks have the staggering cost of a huge network of branch offices where you can walk in and hand a check to a teller.  The whole point of an ATM is to reduce the cost of that.  Chase has 3 staffed locations in my zipcode and 6 ATMs.  Schwab has 3 locations in my greater metro, which contains over 400 zipcodes. If you're in a one-horse town like French Lick, Bandera or Detroit, no Schwab for miles.  So for Schwab, a $3 ATM fee isn't expensive, it's cheap - compared to the cost of serving you any other way. There may also be behind-the-scenes agreements where the bank that charged you $3 refunds some of it to Schwab after they refund you.  It doesn't really cost $3 to do a foreign ATM transaction.  Most debit cards have a Visa or Mastercard logo.  Many places will let you run it as an ATM card with a PIN entry.  However everyone who takes Visa/MC must take it as a credit card using a signature. In that case, the merchant pays 2-10% depending on several factors.** Of this, about 1.4% goes to the issuing bank.  This is meant to cover the bank's risk of credit card defaults. But drawing from a bank account where they can decline if the money isn't there, that risk is low so it's mostly gravy. You may find Schwab is doing OK on that alone.  Also, don't use debit cards at any but the most trusted shops -- unless you fully understand how, in fraud situations, credit cards and debit cards compare -- and are comfortable with the increased risks.   **  there are literally dozens of micro-fees depending on their volume, swipe vs chip, ATM vs credit, rewards cards, fixed vs online vs mobile, etc. (Home Depot does OK, the food vendor at the Renaissance Faire gets slaughtered). This kind of horsepuckey is why small-vendor services like Square are becoming hugely popular; they flat-rate everything at around 2.7%. Yay!"


10% is way high unless you really dedicate time to managing your investments. Commodities should be a part of the speculative/aggressive portion of your portfolio, and you should be prepared to lose most or all of that portion of your portfolio. Metals aren't unique enough to justify a specific allocation -- they tend to perform well in a bad economic climate, and should be evaluated periodically. The fallacy in the arguments of gold/silver advocates is that metals have some sort of intrinsic value that protects you. I'm 32, and remember when silver was $3/oz, so I don't know how valid that assertion is. (Also recall the 25% price drop when the CBOE changed silver's margin requirements.)


"Google's RSI is using a 10 period on 2 minute bars - i.e. it is based upon the last 20 minutes of data. Yahoo's RSI is using a 14 period lookback on an undetermined timeframe (you could maybe mouse-over and see what incremental part of the chart is giving) and given the ""choppier"" price chart, probably 30 second or 1 minute bars.   Given the difference in both the period specified and the periodicity of the charts - you should expect different results."


Understood. And the article goes into that pretty indepth. My friend also mentioned that if the tappers hear a private conversation, they are legally bound to turn off recording for x seconds or minutes or whatever it is.  So it def seems like there should be ways around the wire tapping, if recordees are prepared for it.   One think to keep in mind though is that at least there HAVE been convictions. So apparently they seem to be walking that legal tightrope effectively.


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Yeah, came here to say this. They're going to have soo many things stolen from them. I'm shocked they didn't just stay in Japan or any other more business friendly country, especially when they're keeping the tariff on them.


> Posted tax rates vs actual effective rates differ, but you know that.  Yeah, but correct me if I'm wrong here, but aren't the allowable deductions which can drag the actual rate down only applicable for stuff that happens inside the US? Therefore, wouldn't any foreign sourced income always be taxed at the marginal rate?  Also, the US still has high actual rates too. [It's not exactly like other countries don't have the concept of deductions as well.](http://taxfoundation.org/sites/default/files/docs/sr195.pdf)


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As an undergrad senior, should I read books that are tailored for undergrad or force myself to get used to the graduate level textbook?  I’m specifically refering to the RWJ corporate finance and Hull option & derivatives textbooks.  Thanks


This should be forbidden by law! And if there's a way to configure smartphone to turn it off, 99% of people will turn it off.  However, for non-commercial use, e.g. notifying passengers about late trains or public announcements in events, that's a great idea.


Five Guys is a great example of a bad, slow (have to wait like 15 min), over priced burger soaked in grease.  If I have to pay $12 for a small burger soaked in grease, Ill just go to a diner . It will taste better and the bun wont be soggy.


While all that might be true, it still doesn't make GDP-PPP useful as a metric of power (assuming access to technology is power) unless  American companies are purchased with Chinese currency.  In other words, GDP-PPP loses its utility when there is an external purchase.


if I open current accounts with all these institutions, will they know if I move money between them, i.e. from the one I pay my salary to, to the next, to the next etc.  Of course they will know. After all you will provide the account numbers for transferring the money. Regarding the intent of transfer they don't care. They only care the about the amount coming in regularly. refuse to give me the rates and bonuses I want For this I will go through their terms and conditions and you should do it. Check for any excluded conditions. Read between the lines. But check on what amount will you be getting the interest. Most of these accounts pay interest daily and on the amount in the account in a day. So you might not be generating much of an interest in those accounts if you don't have a substantial balance.


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Your question just doesn't make sense in terms of finance. The reason I recommended those questions is because it'll make yours more coherent.  There's deep confusion in your question, put another way. I don't think you're thinking about money properly, specifically the ownership and it doesn't appear you've read much about trading.  If you're interested in a financial career, you need to be very willing to learn independently. I think my questions are a good place to start.  Honestly, you should buy a finance textbook and just go through it. It's insanely complex at the top levels so reinforcing the foundation stuff is extremely beneficial.


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"I think you should really start a limited company for this. It'll be a lot simpler to spread the income over multiple years if your business and you have completely separate identities. You should also consult an accountant, if only once to understand the basics of how to approach this. Having a limited company would also mean that if it has financial problems, you don't end up having to pay the debts yourself. With a separate company, you would keep any money raised within the company initially and only pay it to yourself as salary over the three years, so from an income tax point of view you'd only be taxed on it as you received it. The company would also pay for project expenses directly and there wouldn't be any income tax to pay on them at all. You would have to pay other taxes like VAT, but you could choose to register for VAT and then you'd be able to reclaim VAT on the company's expenses but would have to charge VAT to your customers. If you start making enough money (currently £82,000/year) you have to register for VAT whether you want to or not. The only slight complication might be that you could be subject to corporation tax on the surplus money in the first year because it might seem like a profit. However, given that you would presumably have promised something to the funders over a three year period, it should be possible to record your promises as a ""liability"" for ""unearned income"" in the company accounts. In effect you'd be saying ""although there's still £60,000 in the bank, I have promised to spend it on the crowdfunded thing so it's not profit"". Again you should consult an accountant at least over the basics of this."


Are you looking specifically at financial services; or what the people in your company's finance department do all day?  Investopedia has a layman overview of most Financial Services jobs: http://www.investopedia.com/university/financial-careers/  Corporate Finance is essentially divided into capital budgeting and working capital management, with dozens of titles for people doing these two things.  Not to be confused with Accounting, which is tracking everything.  The two are often housed together because finance needs accounting for their starting point on anything.


"You can store millions of dollars in deposit accounts, you just lose the explicit FDIC guarantee. So you look for rock-solid banks. Bankrate.com has ""Safe and Sound Ratings"" that show the relative strength of various banks. You put your excess deposits in those banks, and you are pretty safe. Note that in addition to the explicit FDIC guarantee, there is now an implicit guarantee that certain institutions have been deemed too ""big to fail"", and will be backed by the full faith and credit of the US Government, without regard to the capitalization of the bank. Bank of America, for example, is not well capitalized and is carrying billions of dollars of ""assets"" that have little or no value. Yet government policy keeps the bank afloat and your deposits secure. Another strategy is to use municipal money market accounts, which provide secure (but not guaranteed) deposit-like accounts as well as a tax benefit. If you have > $1M in liquid assets, you probably need a financial professional and attorney advising you to make sure that you are aware of  and are controlling for risk in a way consistent with your longer-term goals."


If you are struggling with debt and cannot realistically pay your debts off with your current level of income, these businesses offer, for a fee, to negotiate with your debt providers a sum that you can realistically afford to pay. The debt providers will consider the offer because they would rather get some money back rather than nothing (as these are usually unsecured loans). For you it can be a better deal than going bankrupt or trying to struggle endlessly to pay off something you can't afford to pay off. Note, that even though you won't be bankrupt, you will be treated (by lenders) very similar to being bankrupt. In other words, it will be very hard for you to get new loans in the near future.


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I'm not meaning to be condescending and I apologize if it came off that way.  I'm offering my perspective.  I see these relationships and have the perspective to see how the traders move about and where they move to as part of my role.  The most common way I see non-tier 1 grads moving into top tier HF trading roles is via stepping into BB's, moving into market making roles, and then using the position of being at the center of the market to network into roles.  Renaissance tech being the exception... most of the traders sustain research roles as well and are most came in with PhD's and academia backgrounds.


"The best time to buy a stock is the time of day when the stock price is lowest! Obviously you learned nothing from that sentence, but unfortunately you won't get a much better answer than that. Here's a question that is very similar to yours: ""Is it better to have a picnic for lunch or for dinner to minimize the chance of getting rained out?"" Every day is different..."


"If this money is intended to be used for retirement and depending on how old ""older"" is, it sounds a little risky to be putting too much money in a stock based mutual fund.  While the CDs may seem like crappy investments right now, it is important to down-shift risk as you get closer to retirement because this person won't have as much time to recover if the markets take another big dip."


> and you are cherry picking Asian cities       Can you provide Asian city examples that have poorer transit infrastructure than the average US city?       Sure you could pick a bad Asian city like Jakarta and compare it to NYC or Chicago.   But, Jakarta is arguably close to LA in public transit.   LA is just more functional due to the interstate system.


Most programming for financial engineering will be in C++, Python, R, or MATLAB; some books written by Mark Joshi or Daniel Duffy may be a good place to look for how C++ is used in FE (Duffy also has an online C++ course that's quite good).   If you have a physics/math background then you likely have 90% of the required maths, such as calculus, linear algebra, probability and statistics. I would recommend taking a course/reading a book on advanced probability, real analysis, and stochastic calculus, but these are not trivial subjects. If you are more interested in learning specifically about how math is applied to FE you can take a look at a book such as [a primer for the mathematics of FE](https://www.amazon.com/dp/0979757622/ref=cm_sw_r_cp_api_2KumzbMN6ZPE5).  Also, check out online forums that discuss this such as [quantent](quantnet.com).


Lol was scrolling through and reread it and decided to address the other part of your comment :) he knows a friend working at his dads company making that much a year and they are in dire need of more welders lol so its like nearly guaranteed since he is a close friend and the dudes dad pays them all the same and doesnt give his son xtra lol so solid 80k.


"You must have missed the results of the last partial audit called by Congress.  What you are linking to is the laughably incomplete audits by the GAO.    Here, [**take a look at what the last ""audit the fed"" bill uncovered.**](http://www.guardian.co.uk/business/2010/dec/02/us-federal-reserve-bailouts-multinationals) even after it was watered down in the Senate.  >In a statement, Sanders described the revelations as ""jaw-dropping"", adding that ""based on a four-hour examination"" of the transactions, ""we have learned that the $700bn Wall Street bailout signed into law under George W Bush turned out to be pocket change compared to the trillions and trillions of dollars in near-zero interest loans and other financial arrangements the Federal Reserve doled out to every major financial institution in this country.""  >The documents detail short-term loans to Goldman Sachs of nearly $600bn; nearly $2tn to Morgan Stanley; $1.8tn to Citigroup; nearly $1tn to Bear Stearns; and some $1.5tn to Merrill Lynch. >  >Sanders said he found it ""most surprising"" that huge sums were used to bail out foreign banks and corporations. ""Has the Federal Reserve of the United States become the central bank of the world?"" he said.  > >""I intend to investigate whether these secret Fed loans, in some cases turned out to be direct corporate welfare to big banks that used these loans not to reinvest in the economy but rather to lend back to the federal government at a higher rate of interest by purchasing treasury securities,"" he said.  This isn't just Ron Paul going after the Federal Reserve to expose their corruption...  hundreds of members of Congress have co-sponsored it.   Are you going to try to ridicule them too?"


I was gonna point out that female tech CEOs have been failing.  While I am not so eager to link their performance to their gender, I wonder if it is a combination of male dominated tech industry working against them unconsciously and their own incompetence, leading to a self-fulfilling prophecy?  But you are right that male CEOs have also failed.  Maybe it is perception bias at work?  Or because there are fewer female tech CEOs around, so they stick out more?  I think Amazon or ebay has a female CEO and they are doing pretty well right?


So many possible reasons here, some good, some not.   - Maybe they weren't as good at negotiating the original equity ask.   - Maybe they don't let egos get in the way of advice from a business partner.   - Maybe is about goals.  - Maybe it's random luck with a small sample size.  - Maybe it's selection bias.  - Maybe they're seeling a popular feminism trend more than a product.  Regardless, without more data and comparables, this is just fluff.


"“I used to work at McDonald's making minimum wage. You know what that means when someone pays you minimum wage? You know what your boss was trying to say? ""Hey if I could pay you less, I would, but it's against the law.” ― Chris Rock"


"This might not map well, because personal finance is not the global economy; but let's start by talking about this in terms of the cost of a loan vs the gain of an investment.   If you can buy a house with a mortgage at 3%, but make 7% on average in the stock market... You should take as *looong* as possible to pay that off, and invest every penny you can spare in the markets.  Heck, if you can take on even *more* debt at 3%, you should still do the same.  Now imagine you have the power to literally print money, *but*, doing so is effectively a form of ""loan"" to yourself.  We call the ""interest"" on that loan ""inflation"", and it comes out to roughly 2%, basically the same rate that US treasuries pay (they aren't strictly locked, but they rarely drift far apart).  So, if you can print money at 1%, you should rationally print as much money as you possibly can to buy US treasuries at 2+%.  But someone has to *take* that money off your hands - Pallets of money siting in a warehouse aren't worth any more than the paper they're made of.  There we get into trade imbalances... Whether printing money costs you 0.1% or 10% or 1000% per year depends on whether your country is, on average, making or losing money on international trade (I'm glossing over a hell of a lot there, as full disclosure), and by how much.  If you're printing money as fast as you can just to buy food to stay alive with zero exports, you're screwed; if your country exports $10 to the US (or equivalents) for every $1 you import, the rest of that is essentially ""invested"" in USD, in that you didn't need to print it yourself just to feed your people."


"A repossessed automobile will have lost some value from sale price, but it's not valueless.  They market ""title loans"" to people without good credit on this basis so its a reasonably well understood risk pool."


All I know is that the (former) CEO of Uber is an asswipe, and the only person I've ever experienced through Uber was an Indian guy with zero common sense. Meanwhile, I don't know anyone from Lyft, but they offer a $500 sign on bonus to all new drivers. It's clear to me which I'd prefer.


Wal-mart is not transferring the cost of labor onto the taxpayers. The Government is doing that. If you don't like it you can either vote for representatives that will remove these sorts of welfare payments, or you can supply the workers with better-paying jobs.


"Well you are right about the market speaking but what you got wrong is what the market was talking about.  The market does not dictate jobs, it does dictate production and sales. If they can produce and sell without jobs then they will.  As far as coal being dead, far from it.  Here are the actual numbers for global coal use.  The unit is 1000 short tons.  1980 3,740,690  1981 3,814,908.00  1982 3,942,541.00   1983 4,051,196.00   1984 4,250,713.00   1985 4,445,314.00   1986 4,533,378.00   1987 4,692,590.00   1988 4,863,277.00   1989 4,816,369.00   1990 4,944,566.00   1991 4,778,631.00   1992 4,647,853.00   1993 4,806,460.00   1994 4,841,132.00   1995 4,938,585.00   1996 5,054,008.00   1997 4,961,120.00   1998 4,923,914.00   1999 4,989,302.00   2000 5,269,613.00   2001 5,350,284.00   2002 5,489,468.00   2003 5,917,536.00   2004 6,406,380.00  2005 6,836,650.00   2006 7,194,744.00  2007 7,560,933.00   2008 7,697,183.00   2009 7,638,344.00   2010 8,027,355.00   2011 8,438,300.00   2012 8,647,950.00   2013 8,701,070.00    As you can see the market has spoken and the conclusion is the exact opposite of what you claim. Not only is coal not ""dead"" it is surging.  At current rates of use the proven coal reserves of the world will last well over 150 years.  I suspect you will die and still be in denial about coal not being dead yet. Your kids will probably also be dead before coal dies and likely your grandkids as well."


>No, including education. I don't see how that matters.  It matters because it means you can't compare education to any good for sale and that you absolutely can blame the students unlike how you can't blame other consumers of goods.   >Doesn't have to be consumable. How about a marketing consultant who claims his customer didn't actually want better sales? How about an interior designer who claims his customer has horrible taste? How about a president who claims a gold star widow didn't want to be consoled?  All of those are offering a product that is used (aka consumed)


Who do you think invented minimum wage? Unions did. Regulated working hours? A bunch of other things you take for granted? Minimum wage workers have to put up with a lot of bad things, including people looking down on them because they make little money(but not because they are poor, that would be classist and politically incorrect), mostly from people they work for including customers.


"Your biggest risk with a vendor like this is not that your Credit Card Number will be stolen in transit, it is that it will be stolen from the vendor. I agree with @mhoran that using a one-time number is the best plan, provided you have a bank that offers such numbers.  Bank of America calls it ""Shop Safe"" while Citibank calls it ""Virtual Account Numbers"".  I think Discover card has something similar, but less useful, in that they aren't really one-time use, and I think American Express discontinued their service.  AFAIK no one else offers anything like it.  If you can't get a one-time number, then I was going to suggest buying a Visa gift card, until I put together the fact that you are making a purchase in Asia and the gift cards are not authorized for international payments (due to PATRIOT act restrictions).  Visa does offer the V.me service which might help, but I doubt your vendor participates (or would even be allowed to participate) if they don't offer a secure order form.  You can open a pre-paid Visa card account, which is probably what I'd do. You can buy pre-paid Visa cards the same way you buy Visa gift cards, the difference being you have to register the pre-paid cards (thanks, PATRIOT act) before you can use them.  But it's not that big a deal to register one, you just fill out the online form your your SSN etc and you're good to go. Load it up with enough money to cover your purchase and the FX fees and then cut it up."


Goal - What is it that you are saving or investing to have: Educational costs, retirement, vacation, home, or something else. Dollar figure and time period would be the keys here. Risk tolerance - What kind of risks are you prepared to accept with the investment choices you are making? What kind of time commitment do these investments have and are you prepared to spend the time necessary for this to work? This is about how wild are the swings as well as what beliefs do you have that may play a role here. Strategy - Do you know what kind of buy and sell conditions you have? Do you know what kind of models you are following? This is really important to have before you buy something as afterward you may have buyer's remorse that may cause more problems in a sense. Record keeping - Do you know what kinds of records you'll need for tax purposes? Do you know how long to hold onto records? Those would be the main ones to my mind.


When you started I thought, O great here we go. This guy is a douche. But then as I was reading it I couldn't stop smiling. You are an entertaining writer and you have down, Yoda. From fuckstick to handjobs this is the way you get a job.


A local here owned multiple real estate and simply filed much less on his taxes.  54 months in prison.  Wesley Snipes went to prison for tax evasion.  These people did tax evasion and welfare scam.  I say 5-6 years if guilty.  A lot of comments say they're rich and connected.  I didn't see the connected part but still.  One thing you never ever do is steal from the US Government.  https://www.justice.gov/archive/usao/mn/damianisentenced.html


"John Bensin's answer covers the math, but I like the plain-English examples of the theory from William Bernstein's fine book, The Intelligent Asset Allocator.  At the author's web site, you can find the complete chapter 1 and chapter 2, though not chapter 3, which is the one with the ""multiple coin toss"" portfolio example I want to highlight. I'll summarize Bernstein's multiple coin toss example here with some excerpts from the book.  (Another top user, @JoeTaxpayer, has also written about the coin flip on his blog, also mentioning Bernstein's book.) Bernstein begins Chapter 1 by describing an offer from a fictitious ""Uncle Fred"": Imagine that you work for your rich but eccentric Uncle Fred. [...] he   decides to let you in on the company pension plan. [...] you must pick   ahead of time one of two investment choices for the duration of your   employment: Certificates of deposit with a 3% annualized rate of return, or, A most peculiar option: At the end of each year Uncle Fred flips a coin. Heads you receive a 30% investment return for that year, tails a   minus 10% (loss) for the year. This will be hereafter referred to as   ""Uncle Fred’s coin toss,"" or simply, the ""coin toss."" In effect, choosing option 2 results in a higher expected return than option 1, but it is certainly riskier, having a high standard deviation and being especially prone to a series of bad tosses.  Chapters 1 and 2 continue to expand on the idea of risk, and take a look at various assets/markets over time.  Chapter 3 then begins by introducing the multiple coin toss example: Time passes. You have spent several more years in the employ of your   Uncle Fred, and have truly grown to dread the annual coin-toss   sessions. [...] He makes you another offer. At the end of each year,   he will divide your pension account into two equal parts and conduct a   separate coin toss for each half [...] there are four possible   outcomes [...]: [...]   Being handy with numbers, you calculate that your annualized return   for this two-coin-toss sequence is 9.08%, which is nearly a full   percentage point higher than your previous expected return of 8.17%   with only one coin toss. Even more amazingly, you realize that your   risk has been reduced — with the addition of two returns at the   mean of 10%, your calculated standard deviation is now only 14.14%, as   opposed to 20% for the single coin toss. [...] Dividing your portfolio between assets with uncorrelated results increases return while decreasing risk. [...]   If the second coin toss were perfectly inversely correlated   with the first and always gave the opposite result [hence, outcomes   1 and 4 above never occurring], then our return would always be 10%.   In this case, we would have a 10% annualized long-term return with zero risk! I hope that summarizes the example well.  Of course, in the real world, one of the tricks to building a good portfolio is finding assets that aren't well-correlated, and if you're interested in more on the subject I suggest you check out his books (including The Four Pillars of Investing) and read more about Modern Portfolio Theory (MPT)."


"So Iran . .what did we learn today? hmmmm  . . .  Don't be shy . . .Today's lesson is:  The only thing that will stop a bully is the knowledge that you can hurt him  Then he will move on to someone he can't  So to all you fucking pansies out there, let the words of the great Dubya ring true in your ears  ""Nothing feeds Aggression like success"""


There are companies who sell data gleaned in aggregate from credit card providers to show how much of what category of product is sold online or offline, but that data is not cheap.  1010data is one such data aggregator we are talking to right now. Haven’t seen pricing yet but I expect 6 figures to access the data


A lot of this example is idealistic and the analysis stops right at the point the loan is issued.    If you use generous interest rates you could just skirt by the bare minimum debt service coverage ratio for an asset-backed loan if you found a lender to approve it.  However, he doesn't address any of the issues of running a business that will be insolvent if expenses rise more than about ~2% above the monthly average in a given month (those pesky 3-pay period months; equipment repairs; heating/cooling in winter/summer; etc.), or you have a similarly small sag in sales (selling dirtbikes in January?).    Most companies doing LBOs have skin in it, and a plan to make the company more valuable, not run it exactly the way it is. This allows them to either acquire more debt capital than just a percentage of the collateral -- and so they can finance capital projects to improve the business, deal with fluctuations in cash flow, and/or implement plans to increase the free cash flows above how it was running previously.  This site's advice is a bit like teaching someone the basics of how to take off in an airplane, and then telling them they're ready to fly.


Illinois resident- There is no way Mike Madigan will let Rainer impose term limits and take away his seat of power. I don't see this getting settled until the Federal government steps in and mediates an agreement between them.


Wrong, the whole point is to help people who need it.  The only reason they need the help is because their employer refuses to pay them accordingly.  The food stamp program was not created to help coincide with a business model, it was created to make sure people who couldn't afford to eat were able to eat.  If Walmart can't make it on it's own then a company like Walmart doesn't deserve to exist.  If we had some sort of law requiring businesses to pay higher wages than minimum wage when these businesses meet some sort of requirement then we wouldn't have this problem.


"don't you love the shills in here? Hahahahahahahaha  ""The billionaire knows nothing about economics or the economy."" Shariablue.   He just turned 10 million into an empire.  Oh and Obama increased the national debt by 9 trillion and the fucking shills are complaining that he is reducing the wrong debt HAHAHAHAHAHA.   http://www.businessinsider.com/national-debt-deficit-added-under-president-barack-obama-2017-1"


"Does your spouse work? That's one factor that can put your income into a higher bracket. The one difference to note is you will pay 2x the social security portion, so even though not ""federal"" tax, its right off the top nearly 13%. I'm not familiar with your states tax. It's really worth dropping the $75 on a copy of the software and running your own exact numbers."


Your current loan is for a new car. Your refinanced loan would probably be for a used car. They have different underwriting standards and used car loan rates are usually higher because of the higher risks associated with the loans. (People with better credit will tend to buy new cars.) This doesn't mean that you can't come out ahead after refinancing but you'll probably have to do a bit of searching. I think you should take a step back though. 5% isn't that much money and five years is a long time. Nobody can predict the future but my experience tells me that the **** is going to hit the fan at least once over any five year period, and it's going to be a really big dump at least once over any ten year period. Do you have savings to cover it or would you have to take a credit card advance at a much higher interest rate? Are you even sure that's an option - a lot of people who planned to use their credit card advances as emergency savings found their credit limits slashed before they could act. I understand the desire to reduce what you pay in interest but BTDT and now I don't hesitate to give savings priority when I have some excess cash. There's no one size fits all answer but should have at least one or two months of income saved up before you start considering anything like loan prepayments.


Your employer's matching contribution is calculated based on the dollar amounts you end up putting in. The nature of your 401(k) contribution—whether pre-tax or Roth after-tax—doesn't matter with respect to how their match gets calculated, and their match always goes into a pre-tax account, even if you are contributing after-tax. The onus is on you to choose a contribution amount that maximizes your employer match regardless of the nature of your contribution. Maximizing your employer match using Roth after-tax contributions will eat up more of your annual gross salary, but as long as you are willing to do that then you won't leave free employer match money on the table. Roth after-tax contributions don't get the tax deduction inherent in a pre-tax contribution. The tradeoff is that you end up with less take-home pay per period if you contribute the same number of dollars on a Roth after-tax basis to your 401(k) as opposed to on a pre-tax basis. For instance, to make a maximum $18,000 Roth after-tax contribution to a 401(k), it's going to cost you a lot more than $18,000 of your annual gross salary to net the same $18,000 number. (On the flip side, the Roth money is worth more in retirement than pre-tax money, because it won't be subject to taxes then.) However, 401(k) plan contribution amounts are almost always expressed as a percentage of gross salary, i.e. in pre-tax terms, even when electing to make after-tax contributions! So when electing after-tax, one is implicitly accepting that the contribution will cost more than the percentage of gross salary, because you'll need to pay the tax on a gross amount that would yield the same number of dollars but as an after-tax amount.


Honing in on your last question: Is there a better way?  I think there is, but it would require you to change the way you handle your spending, and that may not be of interest to you.  Right now you have a lot of manual work, keeping track of expenditures and then entering the, every day. The great thing about switching to a habit where you pay for everything using a debit or credit card is that you can skip the manual entry by importing your transactions from your bank. You mention that your bank doesn't allow for exporting. There's still a chance that your bank can connect with a solution like Wave Accounting (http://www.waveaccouting.com), which is free and made for small business accounting. (Full disclosure: I represent Wave.) If your current bank doesn't permit export or connections with Wave, it may be worth switching to a different bank. It's a bit of a pain to make the switch, I know, but you really will save a massive amount of time and effort over the course of the year, as well as minimize the risk of human error, compared to entering your receipts on a daily basis. In Wave, you can still enter all of your cash receipts manually if you want to continue with your current practice of cash payments. One important thing to mention, too: If you're looking for a better way of doing things, make sure it includes proper backup. There would be nothing worse than entering all that data onto a spreadsheet and then something happening to your computer and you lose it all.  Wave Accounting is backed up hourly and uses bank-level security to keep your information safe. One last thing: as I mention above, Wave Accounting is free.  So if it is a good match for your small business accounting needs, it will also be a nice fit for your wallet.


I understand the insurance angle, but why is that my problem? I have a great job that doesn't involve heavy machinery, and I can casually use cannabis off hours.  If your factory can't hire who it needs to maybe it can't compete anymore? Nobody has to work for you either.


The bonus share also improves the liquidity however there is some difference in treatment. Lets say a company has 100 shares, of $10 ea. The total capital of the compnay is 100*10 = 1000. Assuming the company is doing well, its share is now available in the market for $100 ea. Now lets say the company has made a profit of $1000 and this also gets factored into the price of $100. Lets say the company decides to keep this $1000 kept as Cash Reserve and is not distributed as dividends.   In a share split say (1:1), the book value of each share is now reduced to $5, the number of shares increase to 200. The share capital stays at 200*5 = 1000. The market value of shares come down to $50 ea.   In a Bonus share issue say (1:1), the funds $1000 are moved from Cash Reserve and transferred to share capital. The book value of each share will remain same as $10, the number of shares increase to 200. The share capital increases to 200*10 = 2000. The market value of shares come down to $50 ea.   So essentially from a liquidity point of view both give the same benefit. As to why some companies issue bonus and not a split, this is because of multiple reasons. A split beyond a point cannot be done, ie $10 can be split to $1 ea but it doesn't look good to make it $0.50. The other reason is there is adequate cash reserve and you want to convert this into share holders capital. Having a larger share holders capital improves some of the health ratios for the compnay. At times bouns is used to play upon that one is getting something free.


Not for lack of trying either.  They had a ton of merchandising avenues from clothing to lunch boxes to custom games on the Roku; however, like all app fads, they eventually bacame old news.   I see this as a last-ditch attempt to cash in.


I just made a separate post for this, but since it's Moronic Monday I suppose I suit the occasion with this repost...   I'm applying to work a few major banks as an analyst, and my understanding is that a numerical reasoning test is part of the application process. I'm trying to get ready for it, as most of higher-level education has focused on reading and writing with little to do with numbers. Therefore, does anyone recommend a good numerical reasoning test prep program? Every online program says they're the best, perhaps someone here has actually used one and found it the most helpful. Thanks in advance.


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"A kid can lose everything he owns in a crap shoot and live. But a senior citizen might not afford medical treatment if interest rates turn and their bonds underperform. In modern portfolio theory, risk/""aggression"" is measured by beta and you get more return by increasing risk. Risk-adjusted return is measured by the Sharpe ratio and the efficient frontier shows how much return you get for each level of risk. For simplicity, we will assume that choosing beta is the only investment choice you make. You are buying a house tomorrow all cash, you should set aside that much in liquid assets today. (Return = who cares, Beta = 0) Your kids go to college in 5 years, so you invest funds now with a 5 year investment horizon to produce, with a reasonable level of certainty, the needed cash then. (Beta = low) You wish to leave money in your estate. Invest for the highest return with a horizon of your lifetime. (Return = maximum, Beta = who cares) In other words, you set risk based on how important your expenses are now or later. And your portfolio is a weighted average. On paper, let's say you have sold yourself into indentured servitude. In return you have received a paid-up-front annuity which pays dividends and increases annually. For someone in their twenties: This adds up to a present value of $1 million. When young, the value of lifetime remaining wages is high. It is also low risk, you will probably find a job eventually in any market condition. If your portfolio is significantly smaller than $1 million this means that the low risk of future wages pulls down your beta, and therefore: Youth invest aggressively with available funds because they compensate large, low-risk future earnings to meet their desired risk appetite."


"Yes and no, go look up how much AT&T (didn't) spend on infrastructure right about the time they locked in the (then) exclusive iPhone deal. They were making money hand over fist due to the deal and spending at a record low on building out infrastructure to support the new users, and the new demand for mobile data. They went to far as to get the app review team to look for apps that used ""too much"" (but they would never say how much was too much) data over the cell network and reject them."


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"The ""cannot be used for gift cards"" clause is part of a contract. Target agreed to this breach of contract by allowing customers to buy a gift card with a gift card.  From a legal standpoint Target should have refused the purchases, but since it allowed the purchases to occur in plain site I doubt a judge would find a customer at fault."


Hi! Question!   I just got hired at a publicly traded banking company in Southern California. My position will be in one of the corporate offices, working in the IT department, doing mostly documentation and communication.   My question is about dress code, more specifically tattoos.   I interviewed in a suit, dressed the part and everything and they extended an offer to me. But my last job was much more lax and I didn't have to hide my tattoos. The office culture appears to be business professional/business casual dress. I didn't see any visible tattoos in my tour but I didn't meet everyone.   Obviously I plan to wear long sleeves (I have a sleeve tattoo) in the beginning at least to feel it out, but if it continues to prove to be a strict environment I'll need to go shopping for more appropriate clothes.   I'm 29/F, have piercings (both tragus, conch orbital and ear lobes), interviewed with short (ruby rose style) grey hair, but I wore a suit. Just trying to paint a picture of what they subscribed to.   Does anyone have experience in banking and can shed some light on the tattoo issue?


As far as the money goes, it all comes down to the terms.  What is going to cost you the least?  Look for hidden fees and costs with the store credit.  You will need to read the fine print of the credit agreement some automatically sign you up for a service that will cost you extra money every month.   Compare what the costs are going to be over the term you will pay it off.  A good calculator to help you figure this out is http://www.amortization-calc.com/ It is designed with larger loans but works for smaller loans too.   Realize that you will have to add fees and finance charges into the total loan amount to get a good comparison. ** Unless you NEED a computer you should wait until you can afford to pay for it.  Charging these types of expenses tends to lead down to a pit of debt that is hard to get out of.  Wanting a computer really bad is not the same as a need.


You might be right about that, but your previous posts don't say that.  In just the last one you said:  >Because buyback decreases shares outstanding it **also decreases the company's total future dividend payouts as well**  This is indicating that you believe there is a difference somehow, no?


"I utopia, once issues are discovered, politicians put politics aside and work together to fix the issues as soon as possible.  In reality, politicians would rather people and doctors suffer, only that their own way and only their way (party way) will be the way.  So, sorry, but Trump need to ""motivate"" politicians to do something.   And with a million percents certainty, this ""motivation"" method is not what Trump prefers.  Actually, he said it himself: ""ObamaCare will fail on its own without me doing anything.""  > ""repeal now, replace later""   This is not what Trump wants or said.   But I think this is not a bad idea. If it get repealed (easy to do, in 5 minutes, if most vote for it) then it will motivate the politicians to work on a replacement, and work fast on that, with a pressure to prove that the new plan is better.  > agenda which would have an immediate and dramatic impact on the well being of millions  Those millions are chronically sick and are drain on the system.   Many more millions have to pay much more than before, and more than it will cost them out-of-pocket.  As an Israeli, and Israel as one of the best National Healthcare system in the world, I can tell you that with National Health Care, not everything is covered and some of chronically ill people do not get any and all the treatments they need.   And I have no moral issues about it."


This has zero impact on spot prices or anywhere on a reasonably scaled forward curve.  Reddit can be such an echo chamber spouting bullshit sometimes.  Yes, it'll eventually reduce oil use, but it's at least 20 years down the line.  The whole issue with the oil market these days is US tight oil production being able to ramp up quickly and reduce costs.


"1) link? 2) It doesn't matter if they can or do, what matters is if they are *investing* (not trading) in it *more* than banks are investing in businesses. If that is the case (it is) then businesses as a whole will see the inflation first, and commodities will be playing catchup the entire time, but mostly when the investments hit recession.  I will invest in the market again after they lose their mal-invested value, In historical terms the best time was to invest in them was 1980, 1938 and 1900, and the best time to get out was 1929 1960's and 2000. But to bet against them right now, with the dollar, is meaningless because the FED is deflating the currency as they go down, so it's like running on a treadmill. By holding silver I am essentially short the market, only difference is instead of holding a devaluing currency (cash) I'm holding a real money which is increasing in value.  There's nothing simpler than ""investing"" in commodities for the long-term, people lose when they are making monthly/daily trades in them. Anyone who bought and held on to gold in 2000 did it for $300, and they've made infinitely more than the majority of people investing in blue chips (because they've lost value) and much more than those who invested in bonds. And that trend isn't going to stop unless the government lets the dollar deflate in which case the dollar will come to gold instead of the other way around. Until they are in equilibrium again. Historically the dow has an average of being 2 ounces of gold, peaking at 50 and trophing at .5. If it hits .5 again like it has everytime this occurs in the past. Then either gold will be $20000 or the dow will be 4000. You pick."


"Given that the 6 answers all advocate similar information, let me offer you the alternate scenario - You earn $60K and have an employer offering a 50% match on all deposits. All deposits. (Note, I recently read a Q&A here describing such an offer. If I see it again, I'll link).  Let the thought of the above settle in. You think about the fact that $42K isn't a bad salary, and decide to deposit 30%, to gain the full match on your $18K deposit. Now, you budget to live your life, pay your bills, etc, but it's tight. When you accumulate $2000, and a strong want comes up (a toy, a trip, anything, no judgement) you have a tough decision. You think to yourself, ""after the match, I am literally saving 45% of my income. I'm on a pace to have the ability to retire in 20 years. Why do I need to save even more?""  Your budget has enough discretionary spending that if you have a $2000 'emergency', you charge it and pay it off over the next 6-8 months. Much larger, and you know that your super-funded 401(k) has the ability to tap a loan. Your choice to turn away from the common wisdom has the recommended $20K (about 6 months of your spending) sitting in your 401(k), pretax deposited as $26K, and matched to nearly $40K, growing long term.  Note: This is a devil's advocate answer. Had I been the first to answer, it would reflect the above.  In my own experience, when I got married, we built up the proper emergency fund. As interest rates fell, we looked at our mortgage balance, and agreed that paying down the loan would enable us to refinance and save enough in mortgage interest that the net effect was as if we were getting 8% on the money. At the same time as we got that new mortgage, the bank offered a HELOC, which I never needed to use. Did we somehow create high risk? Perhaps. Given that my wife and I were both still working, and had similar incomes, it seemed reasonable."


As an insider who experienced both, i can confirm. Walmart's culture is very... rough. The executives i have met just act like their soul was stolen, theres no real interest in the company's future or its people. It feels like nobody really cares.  Meanwhile at Amazon, the company has taken the relatively new silicon valley business model to heart. Amazon not only invests in expansion and growth, but it invests significantly in its personnel. There are millions of dollars rolling around, being invested in employee development and growth through programs like their tuition assistance and employee assistance. Amazon shows its employees that the company cares by investing in them, and that makes a huge difference in employee retention and productivity. I know people who have worked at one warehouse for over 10 years and never considered leaving because the company makes them feel wanted. That culture is built from the very top all the way to the lowest supervisor.


ELI5 - you sell something that you don't own with the expectation that it will go down, and then you buy it back when it goes down in order to lock in profit.  You are charged fees to borrow the stock from someone else who currently owns it, and you also run the risk of the market going against you by going up.


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"You are kind of thinking of this correctly, but you will and should pay for insurance at some point.  What I mean by that is that, although the insurance company is making a profit, that removing the risk for certain incidents from your life, you are still receiving a lot of value.   Things that inflict large losses in your life tend to be good insurance buys.  Health, liability, long term care, long term disability and property insurance typically fall into this category.   In your case, assuming you are young and healthy, it would be a poor choice to drop the major medical health insurance.  There is a small chance you will get very sick in the next 10 years or so and require the use of this insurance.  A much smaller chance than what is represented by the premium.  But if you do get very sick, and don't have insurance, it will probably wipe you out financially.  The devastation could last the rest of your life.   You are paying to mitigate that possibility.  And as you said, it's pretty low cost.   While you seem to be really good at numbers it is hard to quantify the risk avoidance.  But it must be considered in your analysis. Also along those lines is car insurance.  While you may not be willing to pay for ""full coverage"" it's a great idea to max out your personal liability if you have sufficient assets."


"Fannie Mae and Freddie Mac uniform loans do not have prepayment penalties, so most plain-vanilla loans from national banks and brokers shouldn't have the penalty.  (Fannie Mae rules are categorical; Freddie Mac will buy loans with prepayment if the loan originator documents that a loan without prepayment was offered and the borrower made the choice for other considerations; the uniform instrument they share conforms to the more restrictive rules) ""Mortgage loans subject to prepayment penalties will be ineligible for sale to Fannie Mae"" Fascinating historical discussion of how the two GSEs negotiated the compromise uniform form back in 1975 Exotic terms, subprime, jumbo loans, ARMs, construction loans, secondary loans or really local banks where they'll hold the loan are cases where there might be a prepayment penalty."


Maybe, but electricity is used for countless devices already.  If people stopped driving entirely, overall electricity usage would most likely stay right where it is.  However, if people stopped driving, gasoline consumption would plummet, because its primary use is fuel for an internal combustion engine.  Given how much electricity we use already, I'm not convinced a full switch to electric cars would cause the cost of charging an electric car to jump to $30


"I worked at a Best Buy for a summer.  I worked in merch (basically I was a stock boy) and we ""sold"" something greater than 80% of the product if I remember correctly.  People mostly don't want/need a person to help them.  That said, even though I wasn't really supposed to talk to customers I still really enjoyed helping them.  I even sent a few home to the internet to order basic computer hardware because our store prices were stupid expensive (50%-100% more than a similar product online).  I wasn't ranked on how many stupid extended warranties I sold though because I was merch and not sales.  That shit was stupid.  Most of the products they sell at Best Buy are disposable.  Even the more expensive items will probably last longer than is worth trying to get them fixed.  But that shit gets pushed on employees and if they want to get raises they push it on customers.  Margins are shit on lots of the stuff they sell though.  Except car audio.  Car audio has a massive mark-up."


It is taxable to your brother (assuming he's a US tax resident). Transfer of any amount over $14k per year to any single person (other than spouse) triggers gift tax liability.


See my post listing Trumps failures.  Clearly lenders/investors/people get sucked into things all the time.  P.S. Established Corps and LLC are granted credit all the time.  In my example I never mentioned how old or established, or well funded any of these Corps were.


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Something else is going on here. Rates are high for a specific reason, possible due to the house being non-conforming (ie, trailer/pre fab housing?)  Higher downpayment won't help.  Go to LendingTree.com and have a ton of offers spammed at you. With 20% down + conforming you should be around 4.5%.


I'm saying that fees from Ticketmaster's competitors are usually only a few dollars less.  How can you question the cost of a ticket when you don't know anything about the economics behind it? How much does it cost to advertise a show? How much was the artist's upfront guarantee? How much does the venue require to put on the show? Etc. You don't know any of these numbers for any of the acts you go to see.


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Lol GM and Chrysler unsecured bonds had terrible recoveries when they defaulted in 08. They sure as fuck weren't backed by the Treasury. The government just won't let the big automakers liquidate.  Perhaps a simple Google search before you pontificate next time?


"I believe Tom Au answered your key question. Let me just add in response to, ""What if someone was just simply rich to buy > 50%, but does not know how to handle the company?"" This happens all the time. Bob Senior is a brilliant business man, he starts a company, it is wildly successful, then he dies and Bob Junior inherits the company. (If it's a privately owned company he may inherit it directly; if it's a corporation he inherits a controlling interest in the stock.) Bob Junior knows nothing about how to run a business. And so he mismanages the company, runs it into the ground, and eventually it goes bankrupt. Stock holders lose their investment, employees lose their jobs, and in general everyone is very unhappy. I suppose it also happens that someone gets rich doing thing A and then decides that he's going to buy a business that does thing B. He has no idea how to run a business doing thing B and he destroys the company. I can't think of any specific examples of this off the top of my head, but I've heard of it happening with people who make a ton of money as actors or professional athletes and then decide to start a business."


Dollar cost averaging is a great strategy to use for investment vehicles where you can't invest it in a lump sum. A 401K is perfect for this. You take a specific amount out of each paycheck and invest it either in a single  fund, or multiple funds, or some programs let you invest it in a brokerage account so you can invest in virtually any mutual fund or stock. With annual or semi-annual re-balancing of your investments dollar cost averaging is the way to invest in these programs. If you have a lump sum to invest, then dollar cost averaging is not the best way to invest. Imagine you want to invest 10K and you want to be 50% bonds and 50% stocks. Under dollar cost averaging you would take months to move the money from 100% cash to 50/50 bonds/stocks. While you are slowly moving towards the allocation you want, you will spend months not in the allocation you want. You will spend way too long in the heavy cash position you were trying to change. The problem works the other way also. Somebody trying to switch from stocks to gold a few years ago, would not have wanted to stay in limbo for months. Obviously day traders don't use dollar cost averaging. If you will will be a frequent trader, DCA is not the way to go.  No particular stock type is better for DCA. It is dependent on how long you plan on keeping the investment, and if you will be working with a lump sum or not. EDIT: There have be comments regarding DCA and 401Ks. When experts discuss why people should invest via a 401K, they mention DCA as a plus along with the company match. Many participants walk away with the belief that DCA is the BEST strategy. Many articles have been written about how to invest an inheritance or tax refund, many people want to use DCA because they believe that it is good. In fact in the last few years the experts have begun to discourage ever using DCA unless there is no other way.


>The application will still function until December 15. After that date, users won’t be able to sign in and all data will be deleted, automatically but only people and users with an aim.com email address can access it.  This sentence doesn't make any sense to me; am I crazy?


I don't think you need double-entry bookkeeping. To quote Robert Kiyosaki (roughly): Income is when money enters you pocket, and expenses are when money leaves your pocket.  Income is an addition; expenses are subtractions. But if you want double-entry accounting, I'm not qualified to answer that. :)


Thanks AMC for looking out for me and trying to keep me from being disappointed in the future! It looks like AMC's threat is to withdraw from the Moviepass program thinking that people will continue to patronize AMC and forego Moviepass.  I cant speak for anyone else but if that is the case then I would tell AMC to go fuck themselves and just use Moviepass at other theaters. This reeks of desperation by AMC at it's stinkiest.


"The other answers here do an excellent job of laying out the mathematics of the expected value. Here is a different take on the question of whether lottery tickets are a sensible investment. I used to have the snobbish attitude that many mathematically literate people have towards lotteries: that they are ""a tax on the mathematically illiterate"", and so on. As I've gotten older I've realized that though, yes, it is certainly true that humans are staggeringly bad at estimating risks, that people actually are surprisingly rational when they spend their money. What then is the rational basis for buying lottery tickets, beyond the standard explanation of ""it's cheap entertainment""? Suppose you are a deeply poor person in America. Your substandard education prepared you for a job in manufacturing which no longer exists, you're working several minimum wage jobs just to keep food on the table, and you're one fall off a ladder from medical-expense-induced total financial disaster.  Now suppose you have things that you would like to spend truly enormous amounts of money on, like, say, sending your children to schools with ever-increasing tuitions, or a home in a safe neighbourhood.  Buying lottery tickets is a bad investment, sure. Name another legal investment strategy that has a million-dollar payout that is accessible to the poor in America. Even if you could invest 10% of your minimum-wage salary without missing the electricity bill, that's still not going to add up to a million bucks in your lifetime. Probably not even $100K.  When given a choice between no chance whatsoever at achieving your goals and a cheap chance that is literally a one-in-a-million chance at achieving your goals the rational choice is to take the bad investment option over no investment at all."


"Let me start by giving you a snippet of a report that will floor you. Beat the market? Investors lag the market by so much that many call the industry a scam.   This is the 2015 year end data from a report titled Quantitive Analysis of Investor Behavior by a firm, Dalbar. It boggles the mind that the disparity could be this bad. A mix of stocks and bonds over 30 years should average 8.5% or so. Take out fees, and even 7.5% would be the result I expect. The average investor return was less than half of this. Jack Bogle, founder of Vanguard, and considered the father of the index fund, was ridiculed. A pamphlet I got from Vanguard decades ago quoted fund managers as saying that ""indexing is a path to mediocrity."" Fortunately, I was a numbers guy, read all I could that Jack wrote and got most of that 10.35%, less .05, down to .02% over the years. To answer the question: psychology. People are easily scammed as they want to believe they can beat the market. Or that they'll somehow find a fund that does it for them. I'm tempted to say ignorance or some other hint at lack of intelligence, but that would be unfair to the professionals, all of which were scammed by Madoff. Individual funds may not be scams, but investors are partly to blame, buy high, sell low, and you get the results above, I dare say, an investor claiming to use index funds might not fare much better than the 3.66% 30 year return above, if they follow that path, buying high, selling low. Edit - I am adding this line to be clear - My conclusion, if any, is that the huge disparity cannot be attributed to management, a 6.7% lag from the S&P return to what the average investor sees likely comes from bad trading. To the comments by Dave, we have a manager that consistently beats the market over any 2-3 year period. You have been with him 30 years and are clearly smiling about your relationship and investing decision. Yet, he still has flows in and out. People buy at the top when reading how good he is, and selling right after a 30% drop even when he actually beat by dropping just 22%. By getting in and out, he has a set of clients with a 30 year record of 6% returns, while you have just over 11%. This paragraph speaks to the behavior of the investor, not managed vs indexed."


Your employers insurance premiums will definitely go up if there are a lot of claims when it is time for them to renew their policy. It is also possible that if this happens the employer will pass along some of the additional cost to employees. The insurance company will not try to have you removed, it doesn't work that way with group policies. They just jack up the price as mentioned previously.  If you take a new job your cancer will affect the future employer in the same way. As to whether you should keep it a secret, I don't think it is something you have to disclose unless it affects your ability to perform your job, even then it may be protected under the Americans with Disabilities Act. It is true that some employers could exhibit some bias because of this, especially a small company that is likely to have a small group that is more likely to see price hikes because of a single employee making expensive claims. Bottom line: I wouldn't lie about it to a future employer, but I wouldn't volunteer that information either unless it is material to your job performance.


While they definetly forgot this, it doesn't mean that Europe is perfect. In Germany for example we have quite a large deficit on wage increase if you compare it to the rise in productivity in the last two decades.   I'm not saying everything is bad but we are far from perfect.


Credit Score is rather misleading, each provider of credit uses their own system to decide if they wish to lend to you.   They will also not tell you how the combine all the factoring together. Closing unused account is good, as it reduced the risk of identity theft and you have less paperwork to deal with. It looks good if a company that knows you will agrees to give you more credit, as clearly they think you are a good risk. Having more total credit allowed on account is bad, as you may use it and not be able to pay all your bills. Using all your credit is bad, as it looks like you are not in control. Using a “pay day lender” is VERY bad, as only people that are out of control do so. Credit cards should be used for short term credit paying them off in full most months, but it is OK to take advantage of some interest free credit.