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23
votes
13answers
26k views

Buying my first car out of college

I just graduated college this past week and have a job lined up making 63000 a year. I was looking at buying a $27000 used 2008 BMW 328i, financing at about 500/month for 60 months. I don't have any ...
21
votes
2answers
3k views

Mutual fund value went down, shares went up, no action taken by me

I have no prior experience with stocks so please forgive me if this is a dumb question but I don't even know what to try googling. Two days ago I signed up with scottrade. I put $1000 into ICENX ...
17
votes
3answers
5k views

Can a single share of stock be shorted multiple times?

Is it possible for a single share of stock to be shorted multiple times? Concrete example: Imagine we have five people with the following motivations: Person A owns a share of company ABC and wants to ...
15
votes
3answers
2k views

Need advice about my financial situation

Here is my living situation in a nutshell Live in California 2 kids (7 and 11) Ex-wife I am almost 40. I rent Financial situation: Make about $170k (includes regular job + moonlighting) before ...
9
votes
3answers
1k views

Long-term cash-equivalent ETFs for "cash" allocation in a portfolio?

My retirement account goal analyzer advises that I keep 3% in cash. My retirement date is over 30 years from now, so I can tolerate heavy volatility and certainly don't need liquidity. Does it make ...
70
votes
4answers
28k views

Received an unexpected cashiers check for over $2K from another state - is this some scam?

This is actually about my sister-in-law who lives in Georgia. She just received a "cashiers check" for $2395 from a company in Indiana. It looks like this: She said that she has been doing "mystery ...
67
votes
6answers
23k views

Stranger sent me $12,100

I have a small landscaping business and I advertised through Facebook. Some guy reached out to me via text message, asking me to do a job for him. He asked for a quote for installing sod in his ...
61
votes
4answers
25k views

Counterfeit checks were created for my account. How does this type of fraud work?

Two days ago, first thing in the morning I updated my quicken accounts and saw that my primary checking account had two unidentified checks totaling several thousand dollars, wiping out the account ...
45
votes
12answers
33k views

Why do Americans have to file taxes, even if their only source of income is from a regular job?

I live in Europe (Czech Republic) and as long as employment is my primary source of income I don't need to file any taxes on my own, as the company's accounting department will do that for me by ...
27
votes
4answers
47k views

Daily interest calculation combined with monthly compounding: Why do banks do this, and how-to in Excel?

I often see banks advertise (for accounts with fixed yearly interest, let's say 1.5%) – "interested is calculated daily, and compounded monthly". I have 2 questions: Why are they calculating ...
26
votes
3answers
11k views

Does investing in a company support it?

I ask this question in the context of investing in "ethical" companies, as someone I know wants to do in order to support them. My understanding is that when you buy stock, you're just exchanging ...
21
votes
7answers
10k views

Buying shares when the price goes down 2% and selling shares when it goes up 2%

Suppose I have 50,000 in a tracker. Because it's an aggregate of the share index, it can obviously go up or down but what it certainly does is fluctuate up or down. What is the problem, if any, of ...
15
votes
2answers
30k views

ITIN Application - IRS requesting original passport

I have filed joint tax return for 2012 tax year. My wife is not eligible for SSN (she's on H4 visa) so we included the W7 form (application for ITIN) into the package. This year the rules became more ...
9
votes
1answer
13k views

ITIN application rejected, and IRS lost one of our passports. How to get back the lost passport?

I have filed my 2012 tax return jointly with my wife, along with my wife's ITIN application, back in late March. In April, I got a letter for IRS ITIN department saying that we should send my wife's ...
20
votes
3answers
3k views

Should I really pay off my entire credit card balance each month or should I maintain some balance?

I've heard two conflicting things: One is that you should pay your entire credit every month, and the other that you should maintain roughly %30, %50 (it varies by who you ask) of your available ...
17
votes
7answers
31k views

Am I considered in debt if I pay a mortgage?

75% of Americans are in debt. I'd like to know if I'm also considered in debt if I am paying my mortgage on a house. I didn't think I was in debt if I own the house. I guess I pay 'rent' to a bank ...
15
votes
8answers
2k views

No transaction fee ETF trades - what's the catch?

I just noticed TD Ameritrade has program where you can trade from a list of ETFs with zero fees. Sounds like it could save me a bit of money, but my cynical side wonders how they make money off such ...
6
votes
3answers
13k views

Are non-US citizens trading on US stocks/options subject to tax?

I'm a non-US citizen, and not residing in US, who uses an online brokerage firm to trade US stocks and options. Are my capital gains (short term and long term) and dividends subject to taxes? If yes, ...
38
votes
3answers
5k views

Taxes when transferring money

I'm a US taxpayer (non-resident alien) and I'm being pushed by a friend to do the following: He will transfer 40k from a US bank account that he owns to my personal account. I will withdraw this ...
16
votes
5answers
8k views

Which is better: Employer-sponsored HSA or opening an HSA individually?

So I know that: Employer-sponsored HSA's allow you to deduct contributions directly from your paycheck, pre-tax With individual HSAs, you must contribute using post-tax dollars, then deduct those ...
14
votes
1answer
4k views

Can I withdraw Roth 401k contributions penalty-free before age 59.5?

I know that with a Roth IRA, contributions can be withdrawn penalty-free at any time. If I rollover a Roth 401k into a Roth IRA, can I do the same with the contributions made to the Roth 401k? I've ...
13
votes
3answers
86k views

Co-signed a loan and I need to have my name removed

I co-signed on a car loan with my partner, and now that we are no longer together I want to have my name removed. He has had the car a year now and has been on his job over an year, but he won't do ...
10
votes
2answers
31k views

Multiple mortgage pre-approvals and effects on credit score

Background Info: My wife and I are looking to purchase our first home/condo. Given our combined gross annual income of ~$100k and lack of any actual debt, we're looking at properties in the $200-250k ...
8
votes
3answers
2k views

Tax Consequences of a Gift

A family member intends on gifting us a sum of $70,000 towards the purchase of a new home. My question is - will that family member owe any gift tax on it? I have been reading sources that appear ...
8
votes
2answers
2k views

How is your credit score related to credit utilization?

A few questions: Is it better to use your card and pay off the bill completely every month? [I prefer building the credit score over paying interest] How is credit utiltization calculated? Is it ...
7
votes
8answers
27k views

Exercising an option without paying for the underlying

As a follow up to my other question, I would like to know whether the following is possible: I have $20,000 in my brokerage account The price of a call option with $300 strike price is $5.00 (1 ...
7
votes
1answer
1k views

"Cap gains exposure" of an ETF -- what does it mean?

Morningstar provides an ETF data point called potential cap gains exposure. For example, here is Vanguard's Europe ETF (VGK): This value is negative 78% for VGK. I understand that this is a good ...
4
votes
2answers
2k views

Can I negotiate a 0% transaction fee with my credit card company?

Whenever a month or two passes without using one of my credit cards, the respective bank usually sends me an offer for a 0% APR for a year or so on balance transfers. They send me these blank checks ...
3
votes
2answers
2k views

What are the risks of allowing my stock broker to lend out my shares to short sellers?

Some types of brokerage accounts allow the stock broker to lend my shares to short sellers (probably without needing to notify me). Do I incur any risks when I sign up for such accounts? Is there any ...
2
votes
5answers
30k views

Why does selling and then rebuying stock not lead to free money?

From what I understand, stock prices go down when large amounts of the stock are sold (thereby lowering the price to attract buyers), and go up when large amounts are bought (vice versa - buyers rise ...
2
votes
2answers
327 views

Do most future traders really believe that stock prices will be lower in the next two years?

I am looking at the following website that shows the stock futures chain https://www.cmegroup.com/trading/equity-index/us-index/sandp-500.html The way I read this, the further out you go, the lower ...
15
votes
2answers
4k views

So the vending machine tore my $5 in pieces. What now?

The vending machine swallowed half of my $5 bill, and the other half remained in my hand. Can I get my $5 back, or is it all lost forever?
14
votes
2answers
4k views

What is a large sudden jump (or dip) and instantaneous recovery in a stock price [duplicate]

So why did the price tank all of a sudden and then came back to normal? What does it mean?
12
votes
2answers
2k views

Does the history of credit utilization affect FICO score?

Most people are aware that the debt to credit limit ratio is a vital part of the FICO score. The FICO score is updated every time new information is received by the credit bureaus. However, is it ...
9
votes
6answers
73k views

Are there special endorsement requirements for US Government checks to two parties?

At a bank where I have a checking account in my name only, I regularly cash a dividend check made out to my wife AND me. My wife endorses the check at home and then I stroll down to the bank and add ...
8
votes
3answers
2k views

Is this a money laundering scam?

Seems shady. Here is what has happened so far: Job offer in newspaper: personal assistant, 10-15 hours per week, $500 per week. I took the job. Didn't have to fill out any W-2 forms or anything. ...
7
votes
2answers
16k views

Are tax federal or state tax refunds taxable in the next tax year?

If I get a refund from IRS and or from a state tax agency, will that refund be considered taxable income for the next year's federal or state income taxes?
4
votes
2answers
932 views

found a 1994 uncashed profit sharing retirement plan check

I found an old un-cashed check dated 1994 for $487 from my Xerox Retirement plan with no expiration date. Can I still cash it?
3
votes
1answer
5k views

Investment options for f1 visa students in USA

I am foreign graduate student in USA. I recently completed my undergrad (from USA) and have a bit of money saved up. I know that F1 students cannot work off campus and other business activities such ...
3
votes
1answer
238 views

Am I eligible for the stimulus check?

So my mom claimed me for 2018 Taxes when she shouldn’t have. For 2019 taxes I filed my taxes on April 3rd this year. I am a college student currently part time but my parents do not provide for me ...
2
votes
1answer
2k views

Transfer Money from My Account in India to my account in the USA

I am an Indian citizen living in the USA. Can I wire transfer money from the my NRO account in India to my checking account in the USA? This money, I originally wire transferred from my checking ...
2
votes
4answers
908 views

Why do credit card companies keep advertising balance transfers to those who don't carry a balance?

Given that credit card companies have access to your credit information, why do they keep advertising balance-transfer options to people who have great credit and never carry a balance? What balance ...
-3
votes
1answer
691 views

Is this a scam or not a scam?

I received the below email. Is is a scam or not a scam? Attention: Mohamed Atef, May the peace of the Lord be with you. Yes He left an ATM/VISA CARD with me before he traveled out of the ...
-3
votes
1answer
2k views

F1 student, as a non-resident, filing married separate tax return with US Citizen wife [duplicate]

Possible Duplicate: F1 student, as a non-resident, filing a joint tax return with US Citizen wife My income through CPT, as a F1 student for 2012 was $42k, of which I have paid $1300 in state and ...
294
votes
18answers
119k views

Who can truly afford luxury cars?

I never really thought about money until one day I checked how much I made compared to the rest of America. The calculator said my household income is in the top 20%. Kind of funny to me, because I ...
93
votes
14answers
34k views

Can saving/investing 15% of your income starting age 25, likely make you a millionaire?

I came across this article. It states, The plan calls for young people to put 15 percent of their salary into a savings account — whether it be an IRA, 401(k) or taxable account — starting at ...
51
votes
15answers
7k views

What are the best software tools for personal finance?

What are the best software tools for personal finance? Please list what you like about the software you use.
122
votes
19answers
32k views

Should I buy my house in cash, or with a mortgage and invest the rest of my money?

I can afford to buy a house (to live in myself) in cash. Most of my investor friends tell me this would be a dumb idea, because I could earn more in interest by buying the house with a mortgage and ...
68
votes
11answers
14k views

Stock market long term risks

This question has been spurred by the following question which was on the 'Hot Network Questions' Is it a lie that you can easily make money passively in the stock market? . The answers to that ...
162
votes
10answers
43k views

My friend wants to put my name down for a house he's buying. What risks would I be taking?

My good friend, who I have known since we were kids, asked me for a favor today. He originally intended to get a house with his now ex-girlfriend so that he could invest in one and later on, sell it. ...

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