vania-janet/multiturn-rag-retrieval-data huggingface dataset:
You can't defer reporting of the RRSP purchases.  The financial institution will report those purchases to CRA, and the CRA expects to see you report those purchases on your return.  If they don't match, expect to be audited and to pay penalties.  However, you can defer the tax deduction of those purchases until later years. That means you but you must have the RRSP contribution room available in the year you make the purchase.  So if you have $50 000 of contribution room, you can contribute $50 000 all at once and deduct $16 667 in the next 3 years.  However, if you only have $20 000 of contribution room, CRA will make your life very unhappy if you contribute $50 000 all at once.  In that case, your best bet is to contribute enough to use all your contribution room and repeat each year as you get more contribution room. Also, you have a $2000 lifetime overcontribution limit.  That means whatever contribution room you have, you can contribute $2000 more.  But you won't be able to deduct that amount, and you don't get more overcontribution space each year.
Paying $12,000 in lump sumps annually will mean a difference of about $250 in interest vs. paying $1,000 monthly. If front-load the big payment, that saves ~$250 over paying monthly over the year. If you planned to save that money each month and pay it at the end, then it would cost you ~$250 more in mortgage interest. So that's how much money you would have to make with that saved money to offset the cost. Over the life of the loan the choice between the two equates to less than $5,000. If you pay monthly it's easy to calculate that an extra $1,000/month would reduce the loan to 17 years, 3 months. That would give you a savings of ~$400,000 at the cost of paying $207,000 extra during those 17 years. Many people would suggest that you invest the money instead because the annual growth rates of the stock market are well in excess of your 4.375% mortgage. What you decide is up to you and how conservative your investing strategy is.
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"When I heard the Facebook IPO was finally happening I remember saying, ""This is going to be like a feeding frenzy. The ultimate showcase of everything that is wrong with the stock market. It will be automated trading and big money tearing every penny it can from the pockets of 'speculators' who think investing in a business you believe in is a sound investment."""
"That's actually a really cool feature, **but**...  TFA doesn't say a single word about loans.  I *believe* you, it's just not mentioned.  I don't get all the hate I'm seeing over not divining the ""obvious"" value of investing in something that (when used as intended) I can't have until I die.  **Thank you** for giving me one possible explanation of how to make this work, but everyone else needs to chill.  ""If a 45-year-old, non-smoking man were to contribute $2.5 million to an IDF for four years, the investment would be worth $113 million within 40 years"" ... ""Beneficiaries get their money when the insured person dies. For products structured correctly, there aren’t any levies on death benefits.""  Is it *really* so absurd that I failed to see how that applies to literally 99.*99*% of the population?"
"Robert Lutz recently came and gave a great talk to the Rotary club I belong to.  His views aligned very closely with my own.  He likened cars today to the horse at the end of the 19th century.  It was unheard of that horses may be replaced by cars (the automated horse).  Today, horses are a niche business; you can buy/sell/breed horses but they come from specialized dealers and are used in private areas.  Commercial fleets will be the first to be fully automated.  We're already very close there, and I see real mass adoption of commercial fleet automation within 5 years.    Individual adoption will follow after, starting on public limited-access highways.  Once the critical mass of 25% automation is reached, the federal government will step in and say ""Look, 75% of you are causing 99.9% of all accidents out there.""  They will set the timer on individually operated vehicles - probably something like a 10 year window.  All in all I'm with those who see complete automation within 20 years."
That's not 100% correct, as some leveraged vehicles choose to re-balance on a monthly basis making them less risky (but still risky).  If I'm not mistaken the former oil ETN 'DXO' was a monthly re-balance before it was shut down by the 'man' Monthly leveraged vehicles will still suffer slippage, not saying they won't.  But instead of re-balancing 250 times per year, they do it 12 times.   In my book less iterations equals less decay. Basically you'll bleed, just not as much.  I'd only swing trade something like this in a retirement account where I'd be prohibited from trading options. Seems like you can get higher leverage with less risk trading options, plus if you traded LEAPS, you could choose to re-balance only once per year.
It's been particularly low the past couple months though... and I'm talking futures a couple months out too.  5 years is about the cycle length for significant VIX change too.  I do believe though that the prominence of algo trading and other high speed trading has made prices less volatile though.  But at this level and, more importantly, with so many people short VIX: it's a bit worrisome here.
Yes, for sure. I always like to be called out on incorrect opinions. I've written business blogs for 5-6 years now - on topics ranging from investing to industry to wellness - and it's really helpful to get feedback on my thinking. While I consider myself pretty knowledgeable, there are other very smart people out in the world who can sometimes adjust my thinking.
"Yes we lose some client business to algos - specifically the DMA (direct market access) side of things. I haven't seen much HFT impact on what I do.  I see the movement towards algos/automated trading and DMA over the next 5-10 years, and block traders like me going extinct eventually.  But this all assumes liquidity, which is not there in the product I trade.  So you still need a dealer who knows where the blocks ""live"".   You want to buy 5% of that issue? okay good-luck trying to do that in the market.  No algo will help you do that without moving the market against you."
The cost will be around $300-$500 if you do it correctly it in Florida and can be over a $1,000 if you do it in New York (New York is more expensive due to a publication requirement that New York has for LLC’s).  The price ranges I’ve given include filing, state fees, getting a tax ID number (EIN), operating agreement, membership certificates, registered agent fees and publication fees if done in New York. Each state also have licensing boards and city fees that are applicable, so you would want to also make sure that you are keeping compliant there. Yearly paperwork to keep the LLC running won’t be so expensive, expect the state to charge a yearly fee and require some basic information to be submitted.  I had a quick look at Florida, and with someone filing it for you, expect around $200 to $250 a year, plus registered agent fees.  If you are late in Florida the penalty is $400 so you definitely would want a service that provides compliance calendar notifications to make sure you are on time with fees. In regards to bookkeeping and taxes, yearly tax filing will start at $250 to $500 for an LLC and move up from there depending on the services being offered and the amount of time of work.  I recently referred someone to an accountant that will charge $250 to file an almost zero tax return on an LLC.  I think $40 an hour is a little low for a bookkeeper but it all depends on where you are.  I know in some major cities bookkeepers expect $75 an hour or higher. So the expectation in Miami and Manhattan will probably be more expensive than Jacksonville and Albany. If you doing a little business don’t expect the cost to be too much on the bookkeeping. So, breakdown: $300-$500 (FL) - $1,000 (NY) Registration of LLC + any business license, city or other registrations $250 Yearly Fee + Yearly Registered Agent + any business licenses, city or other fee $500 Tax Return + Bookkeeping Fee Banks will charge more than a personal account so expect $120 a year plus. In regards to service I would look at companies that specialize in foreigners setting up  businesses in the US, because they will have services designed to help you more than services that primarily specialize with US clients. You are going to have some different needs, based on not having a Social Security Number or establishing from overseas.
&gt; will end up over taking instagram AND facebook in the next 5-10 years.   holy shit LMAO I wish there was some way I could bet everything I own against this statement. Facebook will not be overtaken by ANY other social media company for the next 10+ years, and will NEVER be overtaken by snap inc. Facebook is actually the smartest long term investment out of everything you mentioned (and amazon as well). Snapchat and gopro are horrible long term holdings. Gopro will be worth half of what it is worth now in the next 5 years. The money you are bragging about is peanuts, and irrelevant. Because you were talking about long term holdings in your first reply, and now you are bringing up day trading which is a completely different story. Yes snap is probably good for some short term gains, but I dont see how you are parlaying that into thinking that is good for long term retirement funds.  FWIW making money in this climate is easy as fuck, it wont be like this forever. And when the markets begin to crash, companies like twitter and snap inc who have no revenue will be the first ones to freefall to nothing. I have a 37% annual return since 2009 (entered the market a great time) and I have no background in investing before that. So dont get a big head about making correct choices in the short term.
I can confirm this, as I just had 4 machinists retire in my department within days of turning 65. Predictions are that 3-5 million jobs will open up in my industry (manufacturing)  over the next 5 or so years solely due to retiring baby boomers. Things are not all doom-and-gloom out there.   We actually had to request a few of them to come back in part-time since it is rather difficult to find experienced machinists.
&gt;I sense latent hostility in your phrasing, but I hope I am wrong. It feels like you are accusing me of making a profit,   No hostility intended.  I just know that if an incremental dollar is to be made from an investment, a business will venture into that increment.     Now yes, you have to look at ROI.   How long is the payback period on my investment?   Higher taxes make make the payback period take longer.   Perhaps the risk/reward payoff just doesn't make a risk worth while any more.  but at the end of the day, if investing in a new machine means you can improve productivity by 10%, and it means a 10% increase in net income before taxes, you're going to do it regardless of whether there's a 2% increase in taxes or not.  Some choices in business are more cut and dry than others.     All I'm saying is that business is really driven by profit, and if an investment will yield you more profit, you're probably going to make it.
"you bet that a quote/currency/stock market/anything will rise or fall within a period of time. ... So, what is the relationship with trading ? I see no trading at all since I don't buy or sell quotes. So, if you just wander in and say ""oh, hey, look, a bunch of options, i'm going to play games and have excitement"" then that is, in fact, some sort of gambling. Indeed, most trading activities will be like that to you. On the other hand, you might be engaged in other business where those things matter. You might be doing a lot of trading elsewhere in the market, for instance, and suddenly everyone freaks out and the stock market goes crazy and you lose a ton of money. To protect yourself from losing a ton of money, you might buy a binary option based on VIX (the volatility index) going over a certain level. If you're not in a business where you're buying it to protect yourself, then you should probably only buy the options if you have reason to think it'll be profitable and worth the risk. If you don't understand the risks, skip it."
"how can I get started knowing that my strategy opportunities are limited and that my capital is low, but the success rate is relatively high? A margin account can help you ""leverage"" a small amount of capital to make decent profits. Beware, it can also wipe out your capital very quickly. Forex trading is already high-risk. Leveraged Forex trading can be downright speculative.   I'm curious how you arrived at the 96% success ratio. As Jason R has pointed out, 1-2 trades a year for 7 years would only give you 7-14 trades. In order to get a success rate of 96% you would have had to successful exploit this ""irregularity"" at 24 out of 25 times.   I recommend you proceed cautiously. Make the transition from a paper trader to a profit-seeking trader slowly. Use a low leverage ratio until you can make several more successful trades and then slowly increase your leverage as you gain confidence. Again, be very careful with leverage: it can either greatly increase or decrease the relatively small amount of capital you have."
Excellent responses so far.  Because I am a math guy, I wanted to stress the power of compounding. It's great that you are thinking about saving and your future when you are so young.  Definitely be displined about your saving and investing.  You would be surprised how just a small amount can compound over the years. For example, if you were to start with $5000 and contribute $100 per month.  Assuming that you can get 5% ROR (hard in today's world but shouldn't be down the road), your final principal after 28 years (when you are 50 years old) will be over $90,000, which of only $38,000 is what you contributed yourself.  The rest is interest.  You can play with the numbers here: http://www.math.com/students/calculators/source/compound.htm
"I see two important things missing from your ongoing costs: maintenance and equipment. I also don't see the one-time costs of buying and moving. Maintenance involves doing some boring math like ""roofs go every 20 years or so and a new roof would cost $20k, so I need $1000 a year in the roof fund. Furnaces go every 20 years and cost $5k, so I need $250 a year in the furnace fund."" etc etc. Use your own local numbers for both how long things last and how much they cost to replace. One rule of thumb is a percentage of the house (not house and land) price each year keeping in mind that while roof, furnace, carpet, stove, toilets etc all need to get replaced eventually, not everything does - the walls for example cost a lot to build but don't wear out - and not all at a 20 year pace. Some is more often, some is less often. I've heard 5% but think that's too high. Try 3% maybe? So if you paid $200,000 for a $100,000 house sitting on $100,000 of land, you put $3000 a year or about $250 a month into a repair fund. Then ignore it until something needs to be repaired. When that happens, fund the repair from the savings. If you're lucky, there will always be enough in there. If the house is kind of old and on its last legs, you might need to start with a 10 or 20k infusion into that repair fund. Equipment means a lawnmower and trimmer, a snow shovel, tools for fixing things (screwdriver, hammer, glue, pliers, that sort of thing.) Maybe tools for gardening or other hobbies that house-owners are likely to have. You might need to prune back some trees or bushes if nothing else. Eventually you get tools for your tools such as a doo-dad for sharpening your lawnmower. Well, lots of doo-dads for sharpening lots of things.
To get rich in a short time, it's more likely what you want to do is go into business. You could go into a non-investment business such as opening a restaurant or starting a tech company, of course. Warren Buffett was working in investing, which is quite a bit different than just buying stocks: The three ways to get rich investing I can think of are: I think the maximum real (after-inflation) return you can really count on over a lot of years is in the 5-6% range at most, maybe less. Here's a post where David Merkel argues 3-4% (assuming cash interest is close to zero real return): http://alephblog.com/2009/07/15/the-equity-premium-is-no-longer-a-puzzle/ At that rate you can double every 10-15 years.  Any higher rate is probably risking much lower returns. I often post this argument against that on investment questions: http://blog.ometer.com/2010/11/10/take-risks-in-life-for-savings-choose-a-balanced-fund/ Agree with you that lots of people seem to think they can make up for not saving money by picking a winning investment. Lots of people also use the lottery as a retirement strategy. I'm not sure this is totally irrational, if for some reason someone just can't save. But I'm sure it will fail for almost all the people who try it.
You are on the right track with your math, but be wary of your assumptions. If you can borrow money at x% (and can afford to make payments on the debt), and you can get a return of > x% from investing, then you would make more money by keeping the debt and investing your savings. Another way to think of it: by paying off the debt you are getting a guaranteed 5% return because that's the rate you'd have paid if you kept the debt. Be wary of your assumption of getting a 10% return in the S&P 500. Nothing is guaranteed, even over the long term. Actual results may well be less, and you could lose money. It doesn't have to be all-or-nothing: why not pay off the higher rate debt at 5% and keep the 3% debt? That's a guaranteed 5% return by paying off the NSLSC loan. And 3% is a pretty low interest rate. If you can afford to make the payments, I see nothing wrong with investing your savings instead of paying off the loan. Make sure you have an emergency fund, too.
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You can't blame businessmen for wanting to run their operations more efficiently.  As much as I dislike overseas call centers, and severely question their trade-off (low cost for low quality) - the cost benefits can save a business from going under; e.g. 100 man call center possible over there, 100 man call center locally not possible due to costs.   In many cases, the business is forced to use the less expensive option, both by necessity and common business sense. I'm not going to run the numbers, but after you add all the taxes and regulatory requirements; the difference is significant.   As for president; I dislike all career politicians, but would prefer someone with extensive business experience if I had to make a choice.   From a business stand point, was Romney successful with investing his money? It certainly seems so; now contrast that with Obama's own equity record of investing taxpayer money, and then check out all that red... ...and indictments ...and bare benefit.  Seems pretty obvious to me who has the worse record here.
Maybe not exactly 5 years ago, but the big thing I wish I understood starting out my career was retirement accounts and how they worked.
I had to install Parallels to run another piece of (trading) software, so I typically just use Windows Excel within Parallels when I need extensive statistical analysis--then I get the best of both worlds:  Mac environment on everything but in depth Excel (run of the mill Excel for Mac works fine).  I hate Windows.
Its hard to see how they can justify their valuation, but i said that 5 years ago too... Same thing with amazon, but boy was I wrong about both.   I dont understand them so I stay away. I believe lots of tech valuations are crazy. But i'm not willing to bet against them either.
"Yes I know that. Then please tell me how this article relates to business. I doubt anyone even clicked at it, it's a link to ""stock picks"" subreddit which then links to ""crypto"" trading blog. This is definitely nto business related post even if everyone is downvoting me to hell.  Sidenote: This subreddit is full of spam and almost nothing relevant to actual business can be found so this is a good moment to unsubscribe which I have just done."
The experience I have with wire transfers is from Australia to the US. These transfers can take up to 5 business dates (i.e. a whole week including the non-business days of the weekend). I would have thought intra-European transfers would be quicker, given how behind most US (regional) banks are in their electronic transfers. However, I don't think you should be worried just yet.
Very difficult situation, I've had similar ones. One option I've resorted to (didn't really work, but may work for you?) was this: say the guy asks for $250, you give him $100 and explain in detail why it's the best you can do at the moment - times are tough, you're saving for XYZ yourself, blah blah blah. Message being sent: Another thing I did once (that worked well) was just drive over, yell at the guy, submit his resume to 20 different places, and watch him get a job within weeks (the guy sat on a couch for months not even looking around). In your case this may translate into taking the friend out to a bar, pouring a couple of beers into him and telling him to grow TF up for baby's sake. Use your judgement re how well that's going to go across :)
I'm also a UK, Ltd company contractor that has pondered the same topic. I afraid, however, that I don't understand the maths in the original question. Mortgage interest is flat for the term of the mortgage rather than compounded, so, ignoring the tapering at the end of the lifespan of the mortgage, I get the amount of interest to something like £9,300 (7500 x 0.05 x 25). Does this make the decision any easier for you? As you point out, the total cost of this overpayment from your company account is £12,500. Using the above figure, it would take over 13 years to recoup the £5,000 difference (at £375 interest a year). I used to be of the same opinion that the mortgage should be paid off at all costs first. But now I'm coming round to the American way of thinking; £12,500 invested in a pension with a 5% yield will easily outstrip the interest saved by making the over payment - 12500 x 1.05 ^ 25 = £43,300 - over 250% better off (£43,300 / (£9,300 + £7,500)). I now make no mortgage overpayments at all and instead pay all the money into my pension. This (amongst other things) keeps me below the upper earnings tax threshold, so I'm only paying corporation tax for the money I'm drawing as dividends. There's a massive caveat to this though; I'm 49. I should be able to draw the tax free element of my pension pot in six years time and pay my mortgage off and it's quite unlikely that the government will be changing pensions policy in that time (but drawing 25% tax free has been a feature of pensions for quite some time). I can then chose to keep working or retire. If my pension is still doing well (9% ish pa at the moment), I could chose to not pay my mortgage off at all. In the next twenty or so years, however, all this could change. In your position I would do a bit of both.