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52
votes
8answers
25k views

Why is rent going up in an apartment complex with multiple units sitting unrented?

I'm moving to a new city at the end of the month and am looking for an apartment. I found a property that I like, but the rent was a little more than I wanted to pay. So I decided I would take a risk ...
52
votes
5answers
7k views

How can I deal with what I think is an eBay scam?

I've recently tried to sell an electronic item on eBay. I listed it is for sale in Europe. A buyer with a US address on his invoice and based in Africa seems to have somehow bought it. He then sent ...
52
votes
6answers
27k views

How can a company use money from stock investors when they are constantly being bought and sold?

I am interested in the mechanisms which a company can use the money that investors give them when they buy a public stock since they are being bought and sold constantly. How can a company spend other ...
52
votes
3answers
19k views

Are all current world currencies 'decimal'?

Historically, non-decimal monetary systems were common. E.g. pound / shilling. Every currency I can think of or have ever used is 'decimal' (where a higher/lower unit of currency is either a ...
52
votes
4answers
13k views

On paper I have 1 share in my company. How can I sell a smaller percentage of my company to another party?

To be specific, my wife and are equal partners in our limited company. On paper it says we have one share each. We now want to sell 10% of our company to a third party. How does that work in terms of ...
52
votes
12answers
10k views

Is insurance worth it if you can afford to replace the item? If not, when is it?

I am talking here exclusively about insurance for items (not for health or other type of insurance where lives and liability are at risk). Let's say I have a 1-year old Macbook (costs $2000+tax new) ...
52
votes
6answers
8k views

Life insurance that covers only simultaneous/dual deaths

This is probably a stupid idea ... My wife and I both make decent salaries. We believe that either of us could raise our child on a single income if the other passed away. If both of us passed away, ...
52
votes
7answers
9k views

What is the best asset allocation for a retirement portfolio, and why?

Based on financial conversations I've had with trusted family members, I believe that asset allocation is one of the more critical things to "get right" during retirement savings. Based on an ...
51
votes
8answers
19k views

Aging parents with no investments

My aging parents (75/77years) own a house on 35+ acres (14+ hectares) in rural NE USA (no mortgage). They have: No investments (other than the obvious property) Savings of maybe $30k in a bank ...
51
votes
15answers
6k 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.
51
votes
6answers
9k views

Determining fair price for profitable mobile app business

I have been developing iOS apps for a few years now. They do pretty well, and yesterday I was approached with an offer to buy one of them. The offer was for $40,000 dollars for an app that generates ...
51
votes
12answers
17k views

Invest $50,000 in cash or borrow $100,000 and get a mortgage?

I have $50,000 saved and I'm paying $760 on rent right now. All my relatives are telling me to get a mortgage so I don't "throw money away on rent", but I just don't like the idea of getting in debt ...
51
votes
2answers
11k views

Can I hire my kid and start a Roth IRA for him?

I own an LLC, of which I am currently the sole member. It's my main source of income. I am wondering if there is a reason why I could not do the following: Hire my child as a part-time employee of ...
50
votes
8answers
19k views

Ghana scam and direct deposit scam?

My father has been talking to a girl who calls herself Linda Owusu. She claims to be from Germany and living in the US away from her son. She recently found out that her father has left her with a ...
50
votes
10answers
16k views

One of my stock positions has grown substantially. Should I rebalance my portfolio?

I'm a small beginner investor with less than 50k portfolio. One stock I hold has grown substantially than everything else and makes up 46% of my portfolio, but it is expected to keep growing and has ...
50
votes
6answers
9k views

Why are businesses allowed to deduct expenses from their income, while individuals generally cannot?

In general, it's an accepted principle that businesses should be allowed to deduct expenses. How did this principle come about? And why doesn't it appear to apply to individuals to the same extent? ...
50
votes
4answers
6k views

Recent graduate with new job: Choose Roth 401(k), or traditional 401(k)?

I just graduated, and I'm starting a new job soon. My employer has pretty good policy for matching 401(k) contributions, so I want to invest as much as possible, especially during this first year. My ...
50
votes
10answers
10k views

Are you preparing for a possible dollar (USD) collapse? (How?)

After the last crisis it was easy for many to look back and say all the signs were there to indicate an impending crisis. Super-low interest rates from the FED, no down-payment loans, interest-only ...
50
votes
2answers
8k views

When is employer 401(k) match not worth it?

I have always read to take full advantage of your employer 401(k) match. But what if the match is lower than most? My employer will match 10% of my contributions, up to the legal contribution limit. ...
49
votes
9answers
23k views

Investment strategy for Google: What did I do wrong?

Background: I started investing in stocks in October 2017. I have a $22K portfolio which is 60% software, 20% semiconductor, 10% healthcare, 10% others (retail, banking, etc.). It's tech-heavy ...
49
votes
12answers
20k views

My mother co-signed for my car. Can she take it away from me if I am the one making car payments?

My credit is in the low 500s and I was unable to get a car loan. My mom cosigned for me and I've now had a beautiful car for three months. I've been making on-time payments, the registration is in my ...
49
votes
11answers
11k views

Is it principled to tip less if a pricey restaurant doesn't accept Visa or Mastercard? [closed]

Last month, I spent $230 CAD at a restaurant. Yesterday I spent $150 CAD at another restaurant. Both high-priced restaurants in Toronto accept just cash or debit, no credit. I'm using final prices, ...
49
votes
5answers
11k views

Why do money exchangers give different rates to different bills?

I was traveling to India recently and was buying a few hundred US dollars on my way as the money exchanges didn't have any Indian rupees with them. At the exchange counter, they didn't have 100 dollar ...
49
votes
6answers
21k views

Why do sellers care about down payments?

I'm going through the process of buying a home now. Whenever I make an offer, the seller wants to know how much of that will be down payment. Why do they care? Isn't the combination of the down ...
49
votes
2answers
14k views

Why did Tesla's stock value drop by 40 USD for just 5 minutes on August 2nd at 3:20pm?

Google Finance reports that Tesla's stock value dropped by 40 USD for 5 minutes on August 2nd, 2018 at 3:20pm What caused such a drop in stock value in the span of 10 minutes?
49
votes
5answers
25k views

Why is transferring money online to someone else's bank account so difficult in the U.S.?

I used to live in a poor, third world country (India) where I freely transferred money between my bank account (a savings account) to accounts held by my friends in different banks, and different ...
48
votes
8answers
18k views

Tax on gambling winnings with social security number

My roommate told me that he met someone at an MGM casino who won $100,000. That person told my roommate that he does not have a social security number to turn his winnings into cash. He made a deal ...
48
votes
10answers
15k views

Could a business be structured around Multi-level Marketing, yet still be ethical? [closed]

Why is there a lot of controversy and claims that Multi-level Marketing (MLM) is unethical? I see it just as a business model. While the customers and clients, distributors or resellers of your ...
48
votes
7answers
11k views

Why are low risk investments so strongly advised for first-time investors?

Inspired by the flurry of questions on this site about the returns available from investing in equities over the long term, I decided to approach my UK bank about setting up a small investment fund, ...
48
votes
12answers
15k views

Why is day trading considered riskier than long-term trading?

I have read all of these disclaimers about day trading emphasizing how experienced and cautious you have to be. But I don't see how it's any different than buying a stock at a low price and holding on ...
48
votes
7answers
14k views

Can one live in the U.S. and not use a credit card?

The title may not be very accurate. I'm European (Italian) so I don't have a very clear idea of how it works in U.S. My understanding (correct me if I'm wrong) is that the economy there incentivises ...
48
votes
12answers
11k views

How can there exist a profession consisting of investing others' money?

How can there be a profession where some person sits at a desk and trades or invests for somebody else? If they are so smart and can predict the market so well, would they not long ago have invested ...
48
votes
6answers
8k views

Unexpected large rent payments, by moneygram, for my apartment, not by me

I'm used to scams where they ask you for moneygrams, but not the other way around. I applied for an apartment Oct 7th, and moved in Nov 13th. When I tried to pay December's rent, I saw that my ...
48
votes
12answers
11k views

How can sister protect herself from impulse purchases with a credit card?

My little sister is 18, and currently has a bank account with a debit card. She and mom believe it might be time to get her a credit card, mostly to build up her credit rating than out of necessity. ...
48
votes
17answers
22k views

Tenant wants to pay rent with EFT

I live in Kentucky, USA. I rent out a house in Alabama, USA. My tenant wants to pay rent using electronic funds transfer rather than by mailing a check. This makes it easier for him to get my payment ...
48
votes
6answers
14k views

Dealership wants more money years after vehicle is paid off?

I bought a used car in August 2014 when I lived in Texas. A few months later I paid off the vehicle. I have the title and I never heard from the dealership after the final payment. Today I got a ...
48
votes
10answers
13k views

Is paying off your mortage a #1 personal finance priority?

Everyone always says and aims to "pay off my mortgage" But in the current climate of low interest rates is this really worth it? Should that money be put to use earning a higher yield? OR Does the ...
48
votes
7answers
21k views

Didn't apply for credit card but got an application denied letter?

I was recently forwarded a letter by the owner of my old address that turned out to be from a credit card company, informing me my application had been declined. Ignoring that this letter was sent to ...
48
votes
3answers
13k views

If a kid makes money, do the parents take on the tax liability?

Suppose your kid (8 years old) decided to set up a neighborhood lemonade stand and by some freak occurrence managed to somehow make about $3,000. How does one manage the tax liability on that income? ...
48
votes
10answers
11k views

How can a high school student value a possible degree?

From another question I asked, an answer said: If a person borrowed heavily to obtain an education where they make anything less than 75K per year then it was probably foolish. There are many jobs ...
48
votes
12answers
10k views

Is it ever a good idea to close credit cards?

I have a bunch of credit cards with no balance, while others have fairly high balances. I'd like to close the 0 balance cards, but I know that will reduce my overall balance and hurt my credit rating, ...
47
votes
11answers
21k views

20% monthly mining vs 5% monthly trading

I recently meet a guy who invested his money in 2 systems. 1) The first one is mining. He gave 20.000 euros to this company ([redacted]) and they promised to give him back 20% a month. There are ...
47
votes
9answers
15k views

I believe this to be fraud — hired, then asked to cash check and send cash as Bitcoin

I have been "hired" by Nissan Motor as a key account specialist. My first assignment is to cash two checks that I have received. Both were written by a customer who has already received the engines. ...
47
votes
8answers
14k views

How do you invest in real estate without using money?

I saw some infomercial with Than Merrill, a businessman, which claimed that anyone can, and I quote, "Invest in real estate and reap big money -- even without using a penny of your own cash." I know ...
47
votes
7answers
12k views

I'm saving money too fast. What should I do?

[Apologies if this sounds (and is) like a first world problem] I get a very generous salary and I am not a spender. I am able to save $2000-$2500 every month. I've invested part of my money in some ...
47
votes
10answers
22k views

I have 9,000 cash. What debt should I pay first?

I have 9,000 cash right now and I want to use it to pay some debt. It won't cover all, but I want to spend it on the best way possible. These are my current debts: Loan balance 3,867.35 - 23.55% ...
47
votes
8answers
12k views

How to organize bank accounts with wife

My wife and I are recently married, both of us are working hard. At the moment we currently have the same system as prior to our marriage. Which simply put is that both of have our own bank accounts ...
47
votes
6answers
14k views

How can someone profit from a horse as an investment?

A recent Forbes article states that you can invest in horses and livestock in an IRA. you can also invest in the following: - real estate - farm land - horses and livestock - water ...
47
votes
12answers
15k views

What are the pros and cons of a credit card for a European?

I have a bank account, with some savings. Enough to cover every expense I could have to face without delay. I also have a debit card, which I use for my offline payments, a Paypal account for most of ...
47
votes
6answers
8k views

How do tax brackets work? Do they yield significantly different results than a continuous curve?

In Canada (and many other countries), high-earners pay a greater percentage of their income in taxes than low-earners. Here is our Schedule 1 form: The marginal utility of money decreases smoothly ...

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