61

college is valuable even if we don't get a high income Absolutely! Any education is valuable in some way. Not all are valuable economically, though. A degree in sociology that enables you to work in social services where you can impact peoples' lives for the better is invaluable, though it may not pay enough to pay back tens of thousands of dollars of ...


32

This is primarily opinion based but will answer some factual parts of your question. Aren't there always risks with debt/spending money? Of course. People plan all types of contingencies but there is always the "black swan" that they did not see coming. It is/was foolish for home buyers to fall for the mantra of "buy as much house as you can based on ...


26

Robert Kiyosaki's is basically a get-rich quick author. But to answer your question: It is a sales pitch in disguise. See Marketplace's report on a Kiyosaki seminar, which reveals that the free work shop is a sales pitch for a 3-day work shop which costs several hundred dollars. And the 3-day workshop is a sales pitch for "advanced" training which can ...


22

If you have decided to do the degree, and are simply deciding whether to accept employer funding for it or not, take the funding. I see no difference between "my employer doesn't pay my tuition" and "my employer paid my tuition but I had to pay it back because I moved on". Therefore there is no downside to letting them pay the tuition. If you want to move on ...


18

Great question. The first thing one needs to realize is that college education and high student loans are independent of one another. One can obtain a degree with little or no debt (and no help from relatives). Also one does not need to obtain a degree to achieve a high income. Unfortunately, the financial aid offices of most college encourage ...


10

"It depends" would be an understatement, because "It really, really depends." We all know people that never went to college that are very financially successful and we also all know people that went to college (and graduated) that aren't financially successful. Some college majors are inherently worth more than others, and some industries put more value on ...


9

i'm absolutely a newcomer in economics and i wish to understand how things work around finance. This is a pretty loaded question. To understand finance, you need the basics of economics. In almost every economics school in the country, you first study microeconomics and then economics. So, we'll start with micro. One of, if not the, most popular books is "...


9

There are several paths of study you could undertake. If you want to learn the fundamentals of the stock market and become a financial analyst, then finance, economics, and accounting (yes, accounting) are all good to study either on your own or in an institution. Furthermore, if you want to study a specific industry, it can't hurt to know a fair amount of ...


7

I traded futures for a brief period in school using the BrokersXpress platform (now part of OptionsXpress, which is in turn now part of Charles Schwab). They had a virtual trading platform, and apparently still do, and it was excellent. Since my main account was enabled for futures, this carried over to the virtual account, so I could trade a whole range of ...


7

It is almost the same A bad credit history means based on your past, you are likely to make bad decisions with credit and a lender should beware, as you are known to be untrustworthy. Whereas, no credit history means we don't know. It is risky to loan money to you because we aren't sure you will pay it back, but we can't say you won't. Since many ...


7

At the very least I'd look closely at what you could get from the RESP (Registered Education Savings Plan). Depending on your income the government are quite generous with grants and bonds you can get over $11,000 of 'free' money if you qualify for everything CESG - Canada Education Savings Grant By applying for the CESG, up to $7,200 can be directly ...


7

I think there are a number of good answers to this already, and they make some good points. But I think you are also asking a question that does not have a single answer and cannot be directly answered, and so you will at best get guidance to finding your own answer. To summarize some existing points and add to them, consider the following: How are you ...


6

It depends on both the level of the textbook and the markets it covers. If your book covers ordinary government and corporate bonds, I would suspect a book even 10 years old remains highly relevant. Likewise if the book focuses more on the math of fixed income than on the instruments themselves, as the math used today really hasn't changed much since the ...


6

You are smart to read books to better inform yourself of the investment process. I recommend reading some of the passive investment classics before focusing on active investment books: Common sense on mutual funds A Random Walk Down Wall Street Stocks for the Long Run If you still feel like you can generate after-tax / after-expenses alpha (returns in ...


6

Cashflow is a board game developed by Robert Kiyosaki designed to teach people how to become rich based on the advice in his Rich Dad, Poor Dad books. Cashflow 101 is the original game. Cashflow 202 is an advanced expansion pack to the original game. It adds new cards and features to the game, but does not include a board, and you need the original ...


6

People always say it's worth it to spend $/take out a loan for an education because it's invaluable or will pay off in the end. You are right to be skeptical of this advice. But isn't this kind of thinking what's causing people to go into upwards of 140k in student loan debt? Yes. 100% yes. No matter the degree, it is generally the folks who ...


6

IMO getting a finance related job to improve personal finance is an overkill. It's like saying you want to be an English professor to speak more fluent English in daily life. At personal finance level, I think you will be fine by just following the common sense principles (don't overspend, save emergency fund, diversified your investment, pay off high ...


5

As others have said, you do not have to pay high interest for using a credit card. But the credit card companies try to get you to pay interest with a variety of tricks. Many people have no idea as to how credit cards work, and so fall for these tricks. If you have a credit card, the card companies emphasize the minimum payment that you have to make to ...


5

It is risky to mail cash. If the letter gets lost, the money is gone. You also have no proof they received it. There are ways to overcome these shortfalls using registered mail and return receipt mail, but these cost money and time. Sending a bad check is a crime. That keeps almost everybody honest. If you write a check only when you have the money in the ...


5

According to the FAFSA website, if you answer no to all of the following questions, you are considered dependent on your parents and their income must be included on your 2013-2014 FAFSA. Were you born before January 1, 1990? As of today are you married? At the beginning of the 2013-2014 school year, will you be working on a master's or doctorate program (...


5

You should consider going to take an aptitude test. It might help you figure out and focus on a new direction to take your life.


5

In general, yes, the tuition waiver itself is not taxable income. Stipends or TA salaries, etc. will be taxable. See this IRS information which says in part: A scholarship or fellowship is tax free (excludable from gross income) only if you are a candidate for a degree at an eligible educational institution. [...] Qualified education expenses. ...


5

This article gives the very good advice to simply contact one of the schools in question and ask how to apply for financial aid as an international applicant. Most Ivy League schools admit so many international students that they will have answers to any financial question you can imagine. They may even already explain the financial aid process online.


5

Stay in school, learn everything you can, and spend as little money as possible. And realize that the chances of you dropping out and becoming a millionaire are much lower than the chances of you staying in school and becoming a millionaire. You're unlikely to be a good investor if you make bets with negative expected payoffs.


5

Probably. There are quite a few tax benefits for education expenses that you might qualify for. The IRS has a description of the various options on a page called Tax Benefits for Education. The big three programs are the American Opportunity Tax Credit, the Lifetime Learning Credit, or the Tuition and Fees Deduction. For each educational expense you have,...


5

Sounds like your parents can claim you as a dependent. The test isn't if they provided 50% of your support, but that you didn't provide more than 50% of your own support. The instructions for Form 1040, line 6c list the following requirements for a qualifying child: A qualifying child is a child who: Is your son, daughter, stepchild, foster child,...


4

There is a site that treats you like a fund manager in the real market, Marketoracy, http://marketocracy.com/. Each user is given 1 million in cash. You can have multiple "mutual funds", and the site allows use to choose between two types of strategies, buy/sell, short/cover. Currently, options are not supported. The real value of the site is that users ...


4

I think that the reason is the same one that is driving the costs of undergraduate degrees. There is no incentive to provide competitive costs because Economic inflation is pushing this up just like everything else. Anyone that wants that degree or doctorate needs to go to an accredited school (same for undergrad). Financial aid and private loans (even at ...


4

I am a numbers guy, the math is great. Instead of "jane was twice her son's age when he married, and is now 1.5 times his age....." questions in math class, I think the math problems should mostly have dollar/pound signs in front of them. In general, I like the idea of relating to the kids' situations as much as possible. When my daughter (14) makes a ...


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