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121 votes
Accepted

Should I pay for a computer up-front or on finance?

This is pretty simple, and doesn’t require too much math. First, talk of liquidity is not necessary. You are currently paying $3000 extra on your mortgage every month. (Nice!) You certainly would ...
Ben Miller's user avatar
  • 116k
91 votes

The security team has noticed suspicious trading activity. Insurance fee is 25%

Yes it is a scam. Any money you "invested" on this platform is gone. Edit: Reasons why I believe this is a scam: Insider trading is a crime. A legit platform would involve authorities and. ...
QEDemonstrandum's user avatar
83 votes

The security team has noticed suspicious trading activity. Insurance fee is 25%

It is a scam because of several red flags: They want you to pay more money to get access to your money. They want their fee in crypto. They want a screen capture as proof. They want you to wait many ...
mhoran_psprep's user avatar
61 votes
Accepted

Money transfer scam

I think you're overthinking it. They are likely nowhere near you and they don't actually want any puppies or the hassle of coming in person. The likely way it works is: they wire you the money and ...
Vicky's user avatar
  • 24k
58 votes

Where can I report a cryptocurrency fraud?

Each time I am asked to pay a new fee to get my money back and they won’t deduct it from my earnings or my money back. Stop doing this. You won't get any earnings, you're just giving more money to ...
littleadv's user avatar
  • 176k
53 votes
Accepted

Is there a way to bypass POS Credit Card processing fees?

Is there any way to keep accepting those cards without paying the fees? No. You're receiving a service, why would you be receiving it for free? He confirmed there is no way to scape to this. That's ...
littleadv's user avatar
  • 176k
52 votes

Fee-only financial advice vs. asset management (which includes advice)?

If you have $1 million, it makes no sense to pay a 1% of the $1 million annually for asset management on only $500k (the brokerage account). That is basically paying 2%. I agree with the other answers ...
mattm's user avatar
  • 2,136
45 votes

Why do small merchants charge an extra 30 cents for small amounts paid by credit card?

Here in the US, stores sometimes charge such a fee for small credit card purchases. Not as much as they used to, I think. And some refuse to accept credit cards for small purchases. When I had a small ...
Jay's user avatar
  • 22.8k
44 votes
Accepted

Getting Cash from Credit Card without Fees

Nope. Or at least, if it were possible the company offering such a credit card would quickly go out of business. Credit card companies make money off of fees from the merchants the user is buying from ...
Nosrac's user avatar
  • 6,839
35 votes

Fee-only financial advice vs. asset management (which includes advice)?

After doing it myself for 35+ years, I considered turning it all over to an asset management company last year. After meeting with a number of them, I found a knowledgeable financial adviser that I ...
Bob Baerker's user avatar
  • 76.6k
32 votes
Accepted

Why don't index ETFs use leverage to offset their fees and eliminate tracking errors?

Leverage can be good to increase gains, but it amplifies movements of a stock. Also downward movements. Paired with the increased gains is also an increased risk, and that changes the investment ...
amon's user avatar
  • 2,447
31 votes
Accepted

Do mortgage points get applied directly to the principal?

When you pay points on a mortgage, you're paying to offset interest. The payment is essentially a fee, and does not decrease principal. In your example, if you pay $1,000 against a $100,000 mortgage, ...
dwizum's user avatar
  • 17k
29 votes

Money transfer scam

There is actually a popular Paypal scam that operates differently from Vicky's answer. They will send you ask you for your Paypal email, and send you an email invoice from a site that looks like ...
acousticismX's user avatar
26 votes

Money Order shredded by HOA, what do I do?

The Western Union site has a page on the expiration of money orders. Depending on the state, a non-refundable service charge will be deducted from the money order amount after 1-3 years. But the ...
Justin Cave's user avatar
  • 27.3k
25 votes

Does a savings/checking account sitting at $0 have any drawbacks?

The main concern I'd have is that something will happen to the account while it's unattended. While you may not have any money in it to risk, you could have a fraudulent check written against it that ...
Joe's user avatar
  • 35.8k
23 votes
Accepted

Risks of using a "free" (non-fee-only) financial planner for investing a substantial sum?

The risk is that the "free" service may be supporting itself by steering customers to products which part a sales commission, or that are products of the company/bank that employees then, rather than ...
keshlam's user avatar
  • 47.6k
22 votes

Should the bank cover money lost due to an unsuccessful transfer?

Since the transaction was not your bank's mistake (but a decision by the Indian government) why should your bank bear the cost of the unsuccessful transaction? Your bank charged a fee for a service ...
NL - Apologize to Monica's user avatar
20 votes

HOA fees before my house is ready

Is it typical to pay HOA fees before your home is ready, when the delays are due to how the developer has managed some items? The HOA documents will explain what the rates are for empty lots, and ...
mhoran_psprep's user avatar
18 votes

Fee-only financial advice vs. asset management (which includes advice)?

This is a very opinion based question, but it has a lot of merit. IMHO, you do not need a FA. You guys have done really well up until this point and you are probably astute at picking mutual funds ...
Pete B.'s user avatar
  • 76.7k
16 votes

Risks of using a "free" (non-fee-only) financial planner for investing a substantial sum?

There is no free lunch. "Free" can cost you a small fortune over time. If you wish to sit through a free pitch you may as well go to a time share seminar. Just keep your hands in your pocket and don'...
JTP - Apologise to Monica's user avatar
16 votes
Accepted

Bank claims I'm personally liable for small business fees; despite leaving the company?

What did you sign when the account was opened? What did you sign when you left the company, to transfer those responsibilities? Unless the bank has a record of someone else being responsible, they are ...
keshlam's user avatar
  • 47.6k
16 votes

What are reasonable fees for financial advice?

From what I have seen, every retail financial advisor who charges as a percentage of wealth is charging what I would consider to be an unreasonable fee and I continue to be amazed how many people pay ...
farnsy's user avatar
  • 15.1k
15 votes

What are reasonable fees for financial advice?

What's "reasonable" is largely dependent on what you're expecting them to do for you. Nerd Wallet has a decent article about the cost structures of various FA arrangements. What you're ...
BobbyScon's user avatar
  • 14k
15 votes

Should I pay for a computer up-front or on finance?

There is a third possibility. The cost of which is free. Use a company provided laptop. Why: cost for the employee is zero. The company is responsible for purchase, upkeep, warranty. The company also ...
mhoran_psprep's user avatar
15 votes
Accepted

Broker charging 15% on leasing a no fee apartment in NYC. Can he do this?

If you used an outside broker to find the apartment, meaning a broker not affiliated with the landlord/management company, then they are allowed to list it as a No Fee apartment with a Collect Your ...
BobbyScon's user avatar
  • 14k
15 votes

The security team has noticed suspicious trading activity. Insurance fee is 25%

There's no such thing as "insider trading insurance" (or whatever it is they're claiming you need to purchase). Insider trading is a felony subject to criminal penalties (potentially ...
EJoshuaS - Stand with Ukraine's user avatar
14 votes

Fee-only financial advice vs. asset management (which includes advice)?

Beware: two-handed financial advisor Nobody seems to have picked up on this. But the "financial advice fee-based advisor and the "asset management" commission-based advisor are the same guy. This ...
Harper - Reinstate Monica's user avatar
14 votes

Role of fees in mutual funds: Is it exaggerated?

The problem you have is picking the fund that can overcome the higher fees to beat the low cost index fund. You have to know which funds will over the next 10 years beat the index by enough to ...
mhoran_psprep's user avatar
13 votes
Accepted

Mutual Fund Fees

Yes, mutual fund fees subtract directly from your growth rate. Fees should be one of the first things you look at when comparing funds. Note that one of the reasons index funds did surprisingly well ...
keshlam's user avatar
  • 47.6k
12 votes

Bank claims I'm personally liable for small business fees; despite leaving the company?

If I were you, I would go to the bank right now, pay the $100 and close the account. I would stop the bleeding first then consider the fallout later. Do you own the account jointly with your ...
quid's user avatar
  • 49k

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