All Questions

5
votes
5answers
548 views

Are age-related funds a good idea (Fidelity Freedom, T Rowe Price retirement etc.)

Just curious what the consenus is on just dumping 100% of your 401k into one of the age related mutual funds. My 401k is through Fidelity and they have "FreedomFunds" which retirement dates. So I ...
23
votes
8answers
14k views

How do I know when I am financially stable/ready to move out on my own?

Some background information: I'm 23 and living at home. I have a good full time job as a web programmer that I've been at for over one year. It includes benefits and 401K (which after one year I ...
5
votes
4answers
760 views

(Legitimate & respectable) strategies to generate “passive income” on the Internet?

After reading RDPD by R. Kiyosaki I'm trying to find chances to build up my Passive Income. By Passive Income I mean that I do not have to take care day-to-day of that "thing", but it generates some ...
17
votes
2answers
3k views

What's the proper way to negotiate a job offer's salary?

Say I receive an offer letter from a potential employer. They state clearly the offered salary, and I have a good idea how to value the benefits. With all that, it's less than I'd like. How can I ...
5
votes
2answers
272 views

What expenses do 401k funds charge?

What expenses do 401k funds charge? For example, do they charge front-end or back-end loads (commission when buying or selling funds)? Also how do I find out if the 401k administrator charges a fee?
21
votes
3answers
6k views

Comprehensive tutorial on double-entry personal finance? [closed]

Can anyone recommend a comprehensive tutorial on using double-entry accounting to manage personal finances? I've read a few articles that make double-entry seem worth learning, but I'm struggling with ...
5
votes
2answers
299 views

Foreclosure debt still on the credit report

I went through a pretty nasty divorce in which my ex-wife got to keep the house. Eventually the house was foreclosed on and she eventually got evicted. However, my name (along with hers) was still ...
5
votes
2answers
739 views

Postal order has my name mis-spelt, can I still cash it?

I've received a postal order, but the last letter of my surname is missing on it, can I still cash it?
5
votes
1answer
6k views

How long does a Postal Check (postal order) take to clear?

How long does a postal order take to clear? 7 days? Or is it instant?
5
votes
3answers
333 views

Should I ask for an offer for my Irish tracker mortgage?

I currently have a tracker mortgage and have heard that mortgage providers are offering good incentives to move to a different type of mortgage. My questions are, Should I go to my provider and ...
8
votes
6answers
294 views

Are credit card membership points best used for swag or for travel?

As far as I can tell, most reward point programs are confusopolies. I have a difficult time figuring out how much my points are really worth since the exchange rate seems to vary depending on what ...
2
votes
1answer
343 views

Difference between APR and APY [duplicate]

Possible Duplicate: What is the difference between Interest Rate and APY? Can you explain to me the difference between APR and APY and which one I should care about more? I know that comparing ...
5
votes
4answers
1k views

What is the best way to manage your hard earned money?

This is all about money management which we need to do on a periodic basis to have financial freedom. There are many articles which say about this, but in real life I found many people managing it in ...
2
votes
1answer
1k views

What are advantages of certificate of deposits compared to a deposit account?

As far as I know when someone wants to deposit money in a bank he can choose between a deposit account and a certificate of deposit. With a deposit account a person is assigned an account bound to his ...
7
votes
1answer
580 views

Online Personal finance with QIF import [closed]

I am looking for an online personal finance management solution. Crucial requirement is that it have to support import of transactions and account form QIF aor alike, since I have few years worth of ...
12
votes
2answers
2k views

Penalty to withdraw from a new Roth IRA for first time home buyers?

My wife & I are 28 and plan on purchasing our first home in the next 1-3 years. Right now our assets are in two places: 403-b that I will not touch for the next 30+ years FDIC-insured savings ...
8
votes
4answers
705 views

Where to park money while saving for a car

I am in the process of saving money for a different car. I already have $5000.00 saved and am planning to save at least $5000.00 per year until I buy the car. So obviously some of this money will be ...
6
votes
7answers
2k views

Reducing mortgage term by paying off a chunk of the principal each quarter - how effective is this?

A family member once told me about a method for reducing the term of a mortgage "significantly". They didn't know (or I can't remember) the details but it had to do with certain mortgages that ...
7
votes
4answers
2k views

In India, what is the difference between Dividend and Growth mutual fund types?

I've always seen a mutual fund with two types (specifically pointing to Indian mutual funds) that are XYZ - Dividend/XYZ - Growth mutual fund? What exactly they mean here? Which is the best to buy?
45
votes
8answers
19k views

How do credit card companies make profit?

How do credit card companies make profit by giving us credit for 40-50 days (India). I purchase something on my credit card and I pay it to the credit card company after some days. How are they going ...
8
votes
3answers
697 views

How do I know if a dividend stock is “safe” and not a “dividend yield trap”?

e.g. (NYSE:CIM) or (NYSE:AEE) both have high yields, but what are warning signs that these might be dividend yield traps?
8
votes
2answers
3k views

What are your thoughts on Dave Ramsey's “Drive Free, Retire Rich” idea?

Aside from the horribly optimistic interest rate projections in the "Drive Free, Retire Rich" video, is this a plausible way to deal with auto expenses over one's lifetime? The basic plan is: get ...
14
votes
2answers
595 views

Pros, cons, & differences in investing in 401k vs. IRA?

What are some of the pros, cons, and differences of investing in a 401k vs. investing in an IRA (either Roth IRA or regular)?
18
votes
4answers
21k views

Can I roll over a 401(k) with my current employer into an IRA?

My wife has a 401(k) with her employer that she has been contributing to for years. They recently switched administrators for the 401k, and the new outfit is simply terrible - bad fund choices and ...
4
votes
2answers
111 views

“Back Paying” Income Taxes [U.S.]?

When I was young and stupid a few years ago, I took a job that I thought was salary originally with properly handled taxes (W-2) and whatnot and it ended up being a 1099 contracting gig that wasn't ...
8
votes
4answers
922 views

Looking to buy a house in 1-2 years. Does starting a Roth IRA now make sense?

My wife & I are 28 years old and are looking to purchase our first home in the next 1-3 years. Our financial situation looks something like this: 24% combined gross annual income in low interest ...
11
votes
5answers
7k views

Combining 401(k)'s from different past employers?

I have multiple 401(k)s from past employers. I know I can roll each of these over into new IRA accounts at my brokerage, but do the 401(k) rules allow me to combine these 401(k)'s into one IRA ...
5
votes
2answers
4k views

Should I wait to sell a stock (at a loss) that I have held for less than a year?

I currently hold some shares of a stock that I don't expect to regain much value. I bought this (at a higher price) about 8 months ago. My limited understanding of the way capital gains taxes work ...
10
votes
2answers
900 views

How do I get into the over-the-counter derivatives gravy train

Some philosopher, or banker once said: "If you can't fight them, join them". After reading Matt Taibbi's last two pieces on Rolling Stone on how banks have obtained certain rights to sell hot air ...
2
votes
1answer
345 views

Can I refinance a rental property that is currently only 75% loan to value?

I have two separate rental properties that each have a LTV of about 75%. I'd like to leverage these properties to buy another investment or rental property so I am considering refinancing with cash ...
5
votes
3answers
157 views

What's a good way to find someone locally to help me with my investments?

I inherited a stock portfolio from my grandparents, and it has been sitting at the investment house where it was when I got it. I want to move this portfolio somewhere where the fees are lower and ...
8
votes
5answers
2k views

Is an iPhone insurance or warranty a good buy, or a waste of money?

I normally don't pay for product protection plans or extended warranties on electronic devices, but I just got a new iPhone 4, and it sits at the nexus of portability (losable and drop-able) and high ...
28
votes
3answers
70k views

Is the “Bank on Yourself” a legitimate investment strategy, or a scam?

There seem to be a lot of advertisements by "Bank on Yourself", promising to show how you can invest in a certain type of life insurance policy. Is this really a legitimate investment strategy, or ...
6
votes
5answers
5k views

Does size of down payment affect chances of home loan approval?

Does the size of my down payment on a house affect the chances I'll be approved for a loan? Can a 50% down payment overcome a relatively low credit score?
7
votes
2answers
326 views

What is a timeshare?

What is a timeshare and why might I want one? Are there any hidden costs to timeshares?
1
vote
1answer
58 views

How long should I retain my tax information in Canada?

What is required by law?
11
votes
3answers
820 views

What is the optimal ratio of used credit to credit limit for your credit score?

I have been told to never go over 50% of my credit limit on any credit card even if I pay always off in full for each statement, in order not to hurt my credit score. Is this true? What is the ratio ...
6
votes
1answer
111 views

How long should I retain my income tax information?

How long should I retain my income tax information in the US? Should I retain all my deduction evidences as long as I keep my W-2 and return paperwork?
3
votes
1answer
187 views

When is the best time to buy airline tickets?

How long before a flight is the best time to get the lowest fares? Do prices on fare-finding sites change depending on the time of day or day of week? When is best?
9
votes
5answers
6k views

How can I check my credit score?

I've seen the commercials for freecreditreport.com, but commercials with singing pirates make me uneasy; maybe they'll steal all my booty (personal information). What are the different ways to check ...
24
votes
4answers
10k views

Is a high credit limit on a credit card bad?

I've had a credit card for a long time, and every so often they've sent letters telling me they're increasing my available credit. Does it negatively affect my credit score to have a high limit, one ...
10
votes
4answers
389 views

How to value employee benefits?

How should I value benefits such as health insurance and employee stock purchase plans when I'm comparing jobs? I'd like a conversion to dollars so I can fairly compare them to jobs with only direct ...
5
votes
4answers
8k views

Ways to improve my stagnant credit score

My credit score has been stuck at 695 for about four months. That's a vast improvement from the 500 or so it was four years ago, so I've come a long way. I have two credit cards with balances on ...
13
votes
5answers
852 views

How many credit cards do I need? Should I open another just for the cash back feature?

I just got a mailer from Discover offering a new card, with 5% back on some items and 1% back on everything else. However, I already have a Visa which I have had for a few years. Does it make any ...
19
votes
6answers
1k views

Why is everyone saying how desperately we need to save money “in this economy”?

Everywhere you turn today, you hear people talk about how much they need to save or how important it is to find a good deal on things "in this economy". They use phrases like "now more than ever" and "...
6
votes
3answers
5k views

What types of receipts do I need to keep for itemized tax deductions?

Do I need to keep all of my receipts or only receipts of a certain type or amount for itemized deductions? I've also only taken the standard deduction, but this year I plan to itemize. I keep almost ...
19
votes
2answers
476 views

What should I reserve “emergency savings” for?

Should I reserve my "emergency savings" solely for times of unexpected unemployment, or keep these savings flexible enough to cover other unforeseen critical needs?
17
votes
6answers
2k views

Should I pay off my student loan before buying a house?

Should I pay off my student loan before buying a house?
8
votes
4answers
728 views

Can I take advantage of lower interest rates while I'm stuck in a fixed-rate mortgage?

Interest rates across Canada are gradually creeping up, but they're still incredibly low compared to when I started my 5.79% fixed rate mortgage a few years ago. Several lenders still seem to be ...
11
votes
3answers
13k views

How do people/companies buy/sell very large amounts of stock?

I use Sharebuilder for buying and selling stock. Since I'm still only starting out, I don't have a lot in there (no more than a couple thousand), and my purchases have never been for more than a ...

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