Maybe there's more to this story, because as written, your sister seems, well, a little irrational. Is it possible that the bank will try to cheat you and demand that you pay a loan again that you've already paid off? Or maybe not deliberately cheat you, but make a mistake and lose track of the fact that you paid? Sure, it's POSSIBLE. But if you're going to agonize about that, what about all the other possible ways that someone could cheat you? What if you go to a store, hand over your cash for the purchase, and then the clerk insists that you never gave him any cash? What if you buy a car and it turns out to be stolen? What if you buy insurance and when you have a claim the insurance company refuses to pay? What if someone you've never met or even heard of before suddenly claims that you are the father of her baby and demands child support? Etc etc. Realistically, banks are fanatical about record-keeping. Their business is pretty much all about record-keeping. Mistakes like this are very rare. And a big business like a bank is unlikely to blatantly cheat you. They can and do make millions of dollars legally. Why should they break the law and risk paying huge fines and going to prison for a few hundred dollars? They may give you a lousy deal, like charge you outrageous overdraft fees and pay piddling interest on your deposit, but they're not going to lie about how much you owe. They just don't. I suggest that you not live your life in fear of all the might-be's. Take reasonable steps to protect yourself and get on with it. Read contracts before you sign, even if the other person gets impatient while you sit there reading. ESPECIALLY if the other person insists that you sign without reading. When you pay off a loan, you should get a piece of paper from the bank saying the loan has been paid. Stuff this piece of paper in a filing cabinet and keep it for years and years. Get a copy of your credit report periodically and make sure that there are no errors on it, like incorrect loan balances. I check mine once every year or two. Some people advise checking it every couple of months. It all depends how nervous you are and how much time you want to spend on it. Then get on with your life. Has your sister had some bad experience with loans in the past? Or has she never borrowed money and she's just confused about how it works? That's why I wonder if there's more to the story, if there's some basis for her fears.


I would also like to have this discussed, alongside the issue that the US has gone into some type of [recession](https://upload.wikimedia.org/wikipedia/commons/c/c0/US_Treasuries_to_Federal_Funds_Rate.png) roughly every ten year. So with the prospect of a possible recession with a close to 0% cash rate looming, what tools will the FED employ to keep Banks borrowing while maintaining inflation rates?


I used to work at a Wendy's. I recently told a Co-Worker and they were asking for all the horror stories. Honestly, nothing foul happened there at all. Food is prepped fresh, very few things are microwaved. They were surprised the chili was made on premises and not dumped from huge can or something. It was clean. I still eat at Wendys too. Good shit.


"The answer is in your question: derivatives are contracts so are enforced in the same way as any other contract.  If the counterparty refuses to pay immediately they will, in the first instance be billed by any intermediary (Prime Broker etc.) that facilitated the contract. If they still refuse to pay the contract may stipulate that a broker can ""net off"" any outstanding payments against it or pay out using deposited cash or posted margins. The contract will usually include the broker as an interested party and so they can, but don't need to, report a default (such that this is) to credit agencies (in some jurisdictions they are required to by law). Any parties to the trade and the courts may use a debt collection agency to collect payments or seize assets to cover payment. If there is no broker or the counterparty still has not paid the bill then the parties involved (the party to the trade and any intermediaries) can sue for breach of contract. If they win (which would be expected) the counterparty will be made to pay by the legal system including, but not limited to, seizure of assets, enforced bankruptcy, and prison terms for any contempts of court rulings. All of this holds for governments who refuse to pay derivatives losses (as Argentina did in the early 20th century) but in that case it may escalate as far as war. It has never done so for derivatives contracts as far as I know but other breaches of contract between countries have resulted in armed conflict. As well as the ""hard"" results of failing to pay there are soft implications including a guaranteed fall in credit ratings that will result in parties refusing to do business with the counterparty and a separate loss of reputation that will reduce business even further. Potential employees and funders will be unwilling to become involved with such a party and suppliers will be unwilling to supply on credit. The end result in almost every way would be bankruptcy and prison sentences for the party or their senior employees. Most jurisdictions allow for board members at companies in material breach of contract to be banned from running any company for a set period as well. edit: netting off cash flows netting off is a process whereby all of a party's cash flows, positive and negative, are used to pay each other off so that only the net change is reflected in account balances, for example: company 1 cash flows netting off the total outgoings are 3M + 500k = 3.5M and total incomings are 1.2M + 1.1M + 1.2M = 3.5M so the incoming cash flows can be used to pay the outgoing cash flows leaving a net payment into company1's account of 0."


You can claim a deduction only if all of your business is conducted from the home, i.e. your home is your principal place of business - not just if you work from home sometimes. The CRA (Canada Revenue Agency) has pretty strict guidelines listed here, but once you're sure you qualify for a deduction, the next step would be to determine what portion of your home qualifies.   You cannot attempt to deduct your entire mortgage simply because you run your business out of your home.  The portion of your mortgage and other related & allowable home expense deductions has to be pro-rated to be equal to or less than the portion of your home you use for business.  Simply put, if your business is operated out of a 120 sq-ft self-contained space, and your home's total square-footage is 2400 sq-ft, you can deduct 5% of your expenses (120/2,400 = 0.05). Hope this helps!


Unfortunately, humans need motivation to maintain efficiency. Nothing is perfect, but the best motivation to keep the entire system as efficient and sustaining as possible has been the system where competition is promoted. The reason why we are in the mess we are in is because the government has failed to promote competition either by creating monopolies or oligopolies itself or letting industries become less competitive.


**http://www.newpa.com/business/growing-business/download-guide**  You want practical? This is nuts and bolts and geared to someone starting their own business from scratch.  It is put out by the Commonwealth of Pennsylvania so it is very Pennsylvania oriented.  You might want to check and see what kinds of similar business publications your state, province, or territory has for free.  Do not discount this kind of information. The price is right.


>don't complain about other people offering jobs.  That's just senseless. If a corporation pays poverty wages that I am then required to subsidise through my taxes, then I am entitled to complain. As a society, we are foolish to allow any corporation to pay less than a living wage.


Forex is really not that volatile compared to other major asset classes like stocks and commodities. But still markets are generally unencumbered in the major pairs and therefore spikes in volatility can happen. Take what happened with the Swiss Franc a few years ago for example, or GBPUSD recently with news of Brexit. This is less the case with highly regulated currencies like the Chinese Yuan (CNY) Volatility is caused by excessive buy or sell pressure in relation to the available liquidity at the current price. This is usually caused by large buy or sell orders placed with interbank desks by institutions (often including other banks) and central banks. News can also sometimes have a dramatic impact and cause traders to adjust their prices significantly and very quickly.


"I don't think the advice to take lots more risk when young makes so much sense. The additional returns from loading up on stocks are overblown; and the rocky road from owning 75-100% stocks will almost certainly mess you up and make you lose money. Everyone thinks they're different, but none of us are. One big advantage of stocks over bonds is tax efficiency only if you buy index funds and don't ever sell them. But this does not matter in a retirement account, and outside a retirement account you can use tax-exempt bonds. Stocks have higher returns in theory but to have a reasonable guarantee of higher returns from them, you need around a 30-year horizon. That is a long, long time. Psychologically, a 60/40 stocks/bonds portfolio, or something with similar risk mixing in a few more alternative assets like Swenson's, is SO MUCH better. With 100% stocks you can spend 10 or 15 years saving money and your investment returns may get you nowhere. Think what that does to your motivation to save. (And how much you save is way more important than what you invest in.) The same doesn't happen with a balanced portfolio. With a balanced portfolio you get reasonably steady progress. You can still have a down year, but you're a lot less likely to have a down decade or even a down few years. You save steadily and your balance goes up fairly steadily. The way humans really work, this is so important. For the same kind of reason, I think it's great to buy one fund that has both stocks and bonds in there. This forces you to view the thing as a whole instead of wrongly looking at the individual asset class ""buckets."" And it also means rebalancing will happen automatically, without having to remember to do it, which you won't. Or if you remember you won't do it when you should, because stocks are doing so well, or some other rationalization. Speaking of rebalancing, that's where a lot of the steady, predictable returns come from if you have a nice balanced portfolio. You can make money over time even if both asset classes end up going nowhere, as long as they bounce around somewhat independently, so you'll buy low and sell high when you rebalance. To me the ideal is an all-in-one fund that aims for about 60/40 stocks/bonds level of risk, somewhat more diversified than stocks/bonds is great (international stock, commodities, high yield, REIT, etc.). You can just buy that at age 20 and keep it until you retire. In beautiful ideal-world economic theory, buy 90% stocks when young. Real world with human brain involved: I love balanced funds. The steady gains are such a mental win. The ""target retirement"" funds are not a bad option, but if you buy the matching year for your age, I personally wish they had less in stocks. If you want to read more on the ""equity premium"" (how much more you make from owning stocks) here are a couple of posts on it from a blog I like: Update: I wrote this up more comprehensively on my blog,"


">However, unfortunately, teaching is provided by the government mostly, they pay terrible salaries for teachers and the government would like to cut costs.   >So my guess is that there will be a push for less teachers, or ""on-line"" teacher conference-call, and other crap, but they will definitely teach for technology to replace teachers.  I think the solution to education lies somewhere in between human interaction and automation. It's a complex problem which need a thorough analysis to figure out the way forward. Our education system is definitely broken and perhaps automation is could be the answer."


Dude. This is so true. My husband works out of town so I'm basically a single mom. I wake up, get myself ready, our three kids ready, drop them off at daycare and school, rush to work, rush from work, pick them up from after school care (2 different places). By the time I get home it's already 6pm. Then I have to feed/bath/do homework with my munchkins   Oh did I mention I'm also a Junior college student taking 18 hours?! So the second I get them handled I have to work on my class work, sometimes until 3am.   Then on Saturdays  I photograph weddings! Sunday morning we visit my grandmother in law. So on Sunday evenings and on Saturdays I don't have to work a wedding, I am doing housework, grocery shopping, etc. Any convenience I can afford I will use! Anything that helps me get a moment to breathe or play with my kids I'm grateful for.   I'm not going to use this Amazon feature bc it freaks me out but I am not that far from being that desperate lol.


$USD, electronic or otherwise, are not created/destroyed during international transactions. If India wants to buy an F-16s, at cost $34M USD, they'll have to actually acquire $34M USD, or else convince the seller to agree to a different currency. They would acquire that $34M USD in a few possible ways. One of which is to exchange INR (India Rupees) at whatever the current exchange rate is, to whomever will agree to the opposite - i.e., someone who has USD and wants INR, or at least is willing to be the middleman. Another would be to sell some goods or services in the US (for USD), or to someone else for USD.  Indian companies undoubtedly do this all the time. Think of all of those H1B workers that are in the news right now; they're all earning USD and then converting those to INRs.  So the Indian government can just buy their USD for INR, directly or more likely indirectly (through a currency exchange market). A third method would be to use some of their currency stores. Most countries have significant reserves of various foreign currencies on hand, for two reasons: one to simplify transactions like this one, and also to stabilize the value of their own currency. A less stable currency can be stabilized simply by the central bank of that country owning USD, EUR, Pounds Sterling, or similar stable-value currencies. The process for an individual would be essentially the same, though the third method would be less likely available (most individuals don't have millions in cash on hand from different currencies - although certainly some would).  No government gets involved (except for taxes or whatnot), it's just a matter of buying USD in exchange for INRs or for goods or services.


Before this agreement, every country had laws on tax-ability of income [including Global incomes]. Quite a few individuals would get away and did not report such income and pay tax if due. In fact quite a few Multi National banks actively created products that helped US Citizens to move money outside and skip reporting. U.S. in order to step up this effort enacted FATCA; essentially as a compliance mechanism, it started with US Head quartered banks operating globally and made reporting mandatory. It stepped up efforts with other countries to ensure foreign banks also enhance reporting of US nationals.  See the benefits, quite a few countries joined up together and as part of OECD, came up with CRS. Thus going forward it will enable tax authorities in member countries to exchange financials impacting taxes. The scope is also for Companies / Organization as quite a few Companies hide away income outside the domiciled country. I have heard a rumor that due to the upcoming Common Reporting Standard the details of bank accounts, including all transactions, will be reported all around the industrialized world and want to know if this is true. Yes this is true and it is not a rumor. The exact amount of data and type of data will be agreed between member countries. However a broad framework exists on what needs to be shared. Is it really true that the Common Reporting Standard is going to cause things like this to happen?  It is very important to note; There is no new Tax Legislation. Even without FATCA/CRS, a honest tax payer was bound to pay legitimate tax due as per the existing tax provisions of the country along with the provisions of DTAA [Dual Tax Avoidance Agreements]. The CRS only enables monitoring and compliance. So if one was already tax compliant, there is nothing to worry. If one was exploiting the loop hole; how will authorities know ... well this will be curbed going forward. As a note, Canada and Australia will start CRS reporting from 2018.


Doctor Randy Davis Welcome to this blog space focusing on the work and philanthropic efforts of Doctor Randy Davis. If you have never heard of Doctor Randy Davis before, he is a well-respected orthopedic surgeon who works for the Baltimore Washington Medical Center. Dr. Davis has been at the Baltimore Washington Medical C Center since 1983, and he has served in a variety of capacities.


John R. Lott, Jr. and Russell D. Roberts argue that popcorn in movie theaters has a price commensurate with its much higher cost. See also Lott's criticism of the Gil and Hartmann paper.


">but we can always produce more classrooms.  can we?  we certainly can't at a moment's notice, those things take time.  time represents risk.  education could be just another bubble like real estate, is it worth taking the risk of building more classrooms considering the possibility that, in 2 years, the demand may drop, because people have realized that education does not necessarily correlate to motivation?  in fact, that's already happened a few times recently.  for example, the tech bubble of the ... memory fades, late 90s, right?  while the bubble was growing, and computers were going from either toys that geeks played with or tools of business to things that everybody ""had to"" have, it looked like programming (and related skills) might soon be highly valued- so schools started popping up to meet that demand.  but by the time those students were ready to enter the market, the bubble had burst, and while still not a bad career, it was nowhere near the easy ride that many of the students had envisioned.  the schools got their money, but people saw that the promise of an education doesn't always meet expectations- and a lot more people are seeing that right now, as record numbers of graduates can't find jobs- are schools going to bet on neverending growth?  i don't think so.  they might milk it while it lasts, though.  meh, it's late and i haven't articulated my thoughts very well here, feel free to pick it apart."


The trend in ETFs is total return: where the ETF automatically reinvests dividends.  This philosophy is undoubtedly influenced by that trend. The rich and retired receive nearly all income from interest, dividends, and capital gains; therefore, one who receives income exclusively from dividends and capital gains must fund by withdrawing dividends and/or liquidating holdings. For a total return ETF, the situation is even more limiting: income can only be funded by liquidation. The expected profit is lost for the dividend as well as liquidating since the dividend can merely be converted back into securities new or pre-existing.  In this regard, dividends and investments are equal. One who withdraws dividends and liquidates holdings should be careful not to liquidate faster than the rate of growth.


It is beyond US. US is simply not a large enough global player to try to regulate everything. The world will simply bypass US and remove it from global supply chain.  Syngenta, Chemchina, Bayer are not US companies. The world largest chemical producer and buyers are not US companies. Recent merger like Dowdupont, monsanto, in the US is simply an indication the lack of competitive pricing.  BASF, Chemchina, etc are killing it in the global market. Dupont sale to DOW is really  a bailout of bleeding company.  Monsanto is next in line.  They won't make it against Syngenta-chemchina.  US chemical industry is simply shrinking, can't compete globally.  http://cen.acs.org/content/cen/articles/95/i19/Top-50-US-chemical-producers.html


Large businesses are, in every model, considered to be less likely to default, and Lehman brothers etc notwithstanding, this is historically correct.    However, this is still stupid, since the diversification of lending money to many small businesses is way better.  This, in turn, is not mapped properly by the regulations on reserve capital.    Tl;dr:  Banks get punished by regulations if they lend money to small institutions instead of large ones.


"Well, I doubt the Democrats are going to run for reelection on the state of the economy. If we see that we'll know the statistics aren't baloney. All past ""recoveries"" featured the party in power running for election on that. I suspect their pollsters are telling them it would be political suicide since you don't see it."


"I think what those articles are saying is: ""If you want to leave some money to charity and some to relatives, don't bequeath a Roth to charity while bequeathing taxable accounts to relatives.""  In other words, it's not ""bad"" to leave a Roth IRA to charity, it's just not as good as giving it to humans, if there are humans you want to give money to. In your situation, the total amount you want to leave to relatives is less than the value of your Roth.  So it sounds like the advice as it applies to you is: ""Don't leave your relatives $30K from your taxable funds while leaving the whole Roth to charity.  Instead, leave $30K of your Roth to your relatives, while leaving all the taxable funds to charity (along with the leftover $20K of the Roth).""  In other words, the Roth is a ""last resort"" for charitable giving --- only give away Roth money to charity if you already gave humans all the money you want to give them.  (I'm unsure of the details of how you would actually designate portions of the Roth for different beneficiaries, but some googling suggests it is possible.)"


It sounds sensible to me...  If we are hiring Rolls Royce to build an engine we might as well get them to design it, to capitalise on their expertise. If Wings Incorporated is making the wings then surely they are well placed to design them, as long as they follow the 'compatibility guidelines' for the project.  Building Boeing's own blueprints would be like Microsoft giving Nvidia a circuit diagram for the graphics card to go in their tablet - Nvidia are the pest people to do this, Microsoft don't have the same level of organisational knowledge.  Of course it matters how you manage this process...


Organize your expenses in order of the rate of return, and pay them in that order.  By far the highest rate of return on your list is: Nowhere else are you going to see an immediate 100% return (or 50%, depending on the company's matching policy) on every dollar you allocate to this pot. Second would probably be: Money that you do not allocate here will usually incur a 15%-29% penalty.  Outside of large expenses like a home, education, or a reasonable car, you never want to pay to use your own money (and borrowed money is still yours, remember that someday you have to pay all of it back).  Avoiding a negative rate of return (interest) can be just as beneficial as finding a high positive rate of return on an investment. Continue down the list determining what must be paid first, and what the highest rates are in the immediate future and the long run.  Meanwhile, live within your means, and set aside a portion of your monthly income towards things like a rainy day fund (up to a level which is not touched when reached).  Additional savings through work or your personal investments should not be neglected (money saved early and compounded is worth many times what a dollar saved down the road will gain) especially if you are young in your career.


"I used to travel a lot for work, in '14 I spent 35 work weeks on the road, so I know air travel pretty well. Thing is, anyone who travels that often generally doesn't need to pay for a better seat. I got upgraded to first class for free about 50% of the time, some trips I'd get first class on all the flights. At the worst, you're sitting in the coach ""plus"" with larger seats, more legroom, and often free drinks. Regular fliers don't sit in the back by the bathrooms, they're sitting further up right behind first class. Either you travel infrequently enough that you can suck it up for a coach flight every so often, or you're traveling often enough that you don't need to worry about it."


I heard a very smart business guy (prof from UPenn) tell us that GE's lack of focus (what does GE do?) probably hurt the stock price.  He said that splitting the company up into multiple more focused companies would probably help overall value.  They'd be more susceptible to variations in the businesses though, so risk to the individual parts would go up.  So I don't know how right that guy was.  GE definitely can't seem to excite the market no matter how many times it tries to reinvent itself.


"What is your biggest wealth building tool?  Income.  If you ""nerf"" your income with payments to banks, cable, credit card debt, car payments, and lattes then you are naturally handicapping your wealth building.  It is sort of like trying to drive home a nail holding a hammer right underneath the head.   Normal is broke, don't be normal. Normal obtains student loans while getting an education.  You don't have to.  You can work part time, or even full time and get a degree. As an example, here is one way to do it in Florida.  Get a job working fast food and get your associates degree using a community college that are cheap.  Then apply for the state troopers.  Go away for about 5 months, earning an income the whole time.  You automatically graduate with a job that pays for state schools.  Take the next three years (or more if you want an advanced degree) to get your bachelors.  Then start your desirable career. What is better to have ""wasted"" approx 1.5 years being a state trooper, or to have a student loan payment for 20 years?  There is not even pressure to obtain employment right after graduation.  BTW, I know someone who is doing exactly what I outlined. Every commercial you watch is geared toward getting you to sign on the line that is dotted, often going into debt to do so.  Car commercials will tell you that you are a bad mom or not a real man if you don't drive the 2015 whatever.   Think differently, throw out your numbers and shoot for zero debt. EDIT:  OP, I have a MS in Comp Sci, and started one in finance.  My wife also has a masters.  We had debt.  We paid that crap off.  Work like a fiend and do the same.  My wife's was significant.  She planned on having her employer pay it off for each year she worked there.  (Like 20% each year or something.)  Guess what, that did not work out!  She went to work somewhere else!  Live like you are still in college and use all that extra money to get rid of your debt.  Student loans are consumer debt."


But as a worker, could I go out with the intention of not being represented by the union and once hired, negotiate my own contract and not pay the agency fee? Could an employer refuse employment to an employee who wishes to negotiate outside of the union contract?


"This summer I used a loan from my 401(k) to help pay for the down payment of a new house. We planned on selling a Condo a few months later, so we only needed the loan for a short period but wanted to keep monthly payments low since we would be paying two mortgages for a few months. I also felt like the market might take a dip in the future, so I liked the idea of trying to cash out high and buy back low (spoiler alert: this didn't happen). So in July 2017 I withdrew $17,000 from my account (Technically $16,850.00 principal and $150 processing fee) at an effective 4.19% APR (4% rate and then the fee), with 240 scheduled payments of $86.00 (2 per month for 10 years). Over the lifetime of the loan the total finance charge was $3,790, but that money would be paid back into my account. I was happy with the terms, and it helped tide things over until the condo was sold a few months later. But then I decided to change jobs, and ended up having to pay back the loan ~20 weeks after it was issued (using the proceeds from the sale of the condo). During this time the market had done well, so when I paid back the funds the net difference in shares that I now owned (including shares purchased with the interest payments) was $538.25 less than today's value of the original count of shares that were sold to fund the loan. Combined with the $150 fee, the overall ""cost"" of the 20 week loan was about 4.05%. That isn't the interest rate (interest was paid back to my account balance), but the value lost due to the principal having been withdrawn. On paper, my account would be worth that much more if I hadn't withdrawn the money. Now if you extrapolate the current market return into 52 weeks, you can think of that loan having an APR ""cost"" of around 10.5% (Probably not valid for a multi year calculation, but seems accurate for a 12 month projection). Again, that is not interest paid back to the account, but instead the value lost due to the money not being in the account. Sure, the market could take a dip and I may be able to buy the shares back at a reduced cost, but that would require keeping sizable liquid assets around and trying to time the market. It also is not something you can really schedule very well, as the loan took 6 days to fund (not including another week of clarifying questions back/forth before that) and 10 day to repay (from the time I initiated the paperwork to when the check was cashed and shares repurchased). So in my experience, the true cost of the loan greatly depends on how the market does, and if you have the ability to pay back the loan it probably is worth doing so. Especially since you may be forced to do so at any time if you change jobs or your employment is terminated."


"Your arrangements with the bank are irrelevant. Whoever is named on the title of the vehicle owns it. If she is the ""primary"", then I assume her name is on the title, therefore she owns the car. If you drive off with the car and it is titled in her name, she can report it stolen and have you arrested for grand theft auto unless you have a dated and signed permission in writing from her to use the car. Point #2: If a car loan was involved, then you didn't ""purchase"" the car, the bank did. If you want to gain ownership of the car, then you need to have her name removed from the title and have yours put in its place. Since the bank has possession of the title, this will require the cooperation of both your girlfriend and the bank."


The Medicare deduction you see is a tax, not a monthly premium you are paying for your own Medicare coverage.


"You have 1998-2011 income-contingent student loans, where the interest rate is the lower of (1% + base rate) or RPI (retail price inflation). For the next few years the it's likely to be (1% + base rate) as interest rates stay low and inflation shoots up. These loans only need to be repaid in proportion to your salary, and if they aren't repaid for long enough (e.g. the holder takes a career break for children) they are written off. So all-in-all, they are pretty good debt to have: low interest rate, and you might not have to repay them ever. It's likely that your mortgage will have a significantly higher rate than the student loan, so you'd be better off reducing your mortgage. Also, the higher deposit might mean you can get a lower interest rate on the whole mortgage because the lender will see you as a lower risk, so the return from ""investing"" it in your mortgage would be even greater than the raw interest rate. Having the student loan outstanding might make some difference to the ""affordability"" check for your mortgage payments, but lenders will be very familiar with how they work. Reducing your mortgage payments with the higher deposit should easily counterbalance that. Your own suggestion is to invest the £30K in a ""reasonably safe portfolio"" making 5%. There'll inevitably be some risk in that - 5% is a relatively high return in today's climate - but if you're willing to take that risk, you can investigate the effect on your mortgage to see if it's worth it or not."


Yes, it's possible. However, it's not likely, at least not for most people. Earning a million is not that difficult, but when you talk about billions that's an entirely different story. I think the key point that you're missing is leverage. It's common knowledge that Warren Buffett likes to have a huge cash warchest at his disposal and does not soak himself in debt. However, in his early years Buffett did not get to where he's at by investing only his own money. He ran what was basically a hedge fund and leveraged other peoples' money in the market. This magnified his returns quite substantially. If you look at Buffett's investments, you'll notice that he had a handful of HUGE wins in his portfolio and many more just mediocre success stories. Not everything he invested in turned to gold, but his portfolio was rocketed by the large wins that continued to compound over many years because he held them for so long. Also, consider the fact that Buffett's wealth is largely measured in Berkshire stock. This stock is a reflection of anticipated future earnings by the company. There's no way that alone could turn   $10k in 1950 into $50B today... could   it? Why not? Take the two founders of Google for example, they became billionaires in short order when Google had it's IPO and basically started in a garage with very little cash. Of course, they didn't do this by buying and selling shares. There are many paths to earnings enormous sums of money like the people you're talking about, but one characteristic that the richest people in society seem to have in common is that they all own their own companies.


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I'd take the match, but I wouldn't contribute beyond your match, for two reasons:


"This is the best tl;dr I could make, [original](http://www.imf.org/en/Publications/WP/Issues/2017/09/29/Interconnectedness-of-Global-Systemically-Important-Banks-and-Insurers-45223) reduced by 58%. (I'm a bot) ***** > Interconnectedness among global systemically important banks and global systemically important insurers has important financial stability implications.  > This paper examines connectedness among United States, European and Asian GSIBs and GSIIs, using publicly-available daily equity returns and intra-day volatility data from October 2007 to August 2016.  > Lastly, the paper demonstrates significant influence of economic policy uncertainty and U.S. long-term interest rates on total connectedness among systemically important institutions, and the important role of bank profitability and asset quality in driving bank-specific return connectedness.   ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/73blof/imfinterconnectedness_of_global/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ ""Version 1.65, ~219245 tl;drs so far."") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr ""PM's and comments are monitored, constructive feedback is welcome."") | *Top* *keywords*: **connectedness**^#1 **important**^#2 **among**^#3 **paper**^#4 **GSIBs**^#5"


I received an allowance growing up.  There were stipulations on what I had to do with it that helped instill the values my parents wanted - in their case they were hoping to teach me to give money to my church, so I had a mandatory amount that I had to give when I received the allowance.  To this day I still give money to the church, so I guess it stuck. The allowance was tied to my doing some basic chores around the house - but loosely.  It wasn't a reward for doing those chores, but it would be taken away if I didn't do them.  Before I was of a legal working age I could do larger unusual tasks around the house for more money.   The relationship between chores and some form of allowance is, I think, tricky.  I don't think kids should be taught that the only reason to work is to earn money.  They won't earn money for keeping their future homes clean or by volunteering at the local food bank, but these are both good things to do.  At the same time it is good to teach that work has a reward and that lack of work means lack of a reward. My parents set up a savings account for me quite early.  Largely what went in there was birthday cash from relatives (a great thing to talk to any family members who might give your kids gifts about) and the income from my once-yearly sale of baked goods at a craft fair.  These were bigger amounts of money that I could take pride in depositing, and keeping them in a bank helped prevent me from spending them willy-nilly. I also got a credit card at the age of 16 (only allowed in some states in the US, not sure about internationally).  My parents oversaw my spending habits with it and made sure I always paid in full and on time.  The money I spent was tied to my summer work in high school and college.  I thought it was extremely valuable to learn how to manage a credit card before college when the card companies often seem to prey on young customers.


Your initial premise (mid-cap and small-cap company stocks have outperformed the market) is partially correct - they have, over many 40 yr periods, provided higher returns than large caps (or bond funds). The important thing to consider here is that risk adjusted, the returns from a diversified portfolio are far more robust - with proper asset allocation you and expect high returns and reduce your risk simultaneously.  Imagine this scenario - you decide to stick to small / mid caps for 10 - 15 yrs and move into a more diversified portfolio then. Had you made that decision during a sustained period of poor small cap performance (late 80s or the 40's) you would have lost a boatload of return, as those were periods were small / mids underperformed the market as a whole, and large caps in particular. As an example, from 1946 to 1958 large caps outperformed small every single year. If 2016 were to be the first year of a similar trend, you've done yourself a major disservice.  Since the dot com crash small /mids have outperformed for sure, pretty much every year - but that doesn't mean that they will continue to do so. The reason asset allocation exists is precisely this - over a 40 yr period, no single asset class outperforms a diversified portfolio.  If you attempt to time the market, even if you do so with a multi-decade time horizon in mind, there a good chance that you will do more poorly.


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In general, you can only be charged for services if there is some kind of contract. The contract doesn't have to be written, but you have to have agreed to it somehow. However, it is possible that you entered into a contract due to some clause in the home purchase contract or the contract with the home owners' association. There are also sometimes services you are legally required to get, such as regular inspection of heating furnaces (though I don't think this translates to automatic contracts). But in any case you would not be liable for services rendered before you entered into the contract, which sounds like it's the case here.


"All of the above. There are scientific methods for surveying. Generally the ""people with clipboards"" is the most reliable, but is also the most expensive, so some might be getting the data directly from the retailers with some sampling for verification. The ""margin of error"" percentage is directly related to the method chosen."


If you are planning a birthday party for your kid why do not you think at Legos for the theme? There are some easy ways to decorate that special Lego birthday cake. It is a great toy by which kids can construct all types of things, from houses to working models of cars or trains and mountains and trees.


Out of curiosity I went through a couple of prospectuses and all contained various clauses for the event where LIBOR is not published although the language suggests more of anticipation of brief technical difficulties. Some are rather vague and prone to manipulation.


Realize that not everyone has the ability to save like that.  If someone can save money, that means they are being paid (slightly) more than they need to survive.  Many employers (too many) take that as a sign that they are over paying their workforce, and can easily replace them with people who get paid less, since they can also make it work by not setting anything significant aside.  A lot of these people are only making it work by relying on credit too.  It's easier than you might think to get trapped in a debt spiral, and a lot harder to get out when you cant take classes or even re-education courses to help you move up.


Would you believe that Germans, Russians, the British, and the US all make the same claims?  Every country believes that their country invented anything that one of their citizens had a hand in.  I'm reality, invention takes many people, sometimes hundreds of brilliant innovations, and credit tends to drift towards those you are most familiar with.


I'm not sure who specifically you are talking about. Those are some pretty broad generalizations. Where do you draw the line about what is too much concern about entry price? On what basis do you make the assertion that they are overly concerned with it? For those that do: Probably because when you are buying anything, a lower price is preferable in general. Why WOULDN'T you want to get the best deal possible? I think you are making assumptions (about whom I don't know) that people always invest based on cold hard logic. This is not often the case.


Every time I’ve had to call AMZN customer service, they’ve been amazing. I bought a chair a few years ago that developed a leak in the gas cylinder, causing the chair to sink slowly. I called Amazon to see if I could get a part number for the chair (it was an Amazon Basics chair) and even though it was 2 years out of warranty and I wasn’t asking for more than a part number, they gave me a 50% credit for the chair, were super apologetic and even followed up by email when they couldn’t find the number for me. 150 dollar Amazon credit that I didn’t even ask for. Good shit man, customer for life.


Use of this is demonstrated in this video: https://youtu.be/Ip5jG3djdyk Stocking products that you have no intention of selling can be used to make other products look more appealing by comparison. It's more psychological than anything but it isn't an uncommon practice.


Marketwatch reports that the 108 strike call option sells for 1.45,  down 1.53 from yesterday. If we split the bid and ask you get 1.415. That is what that contract will, likely, trade at.  The biggest problems with options are commissions and liquidity. I have seen a commission as high as $45 per trade. I have also seen open interest disappear overnight. Even if you obtain contracts that become worth more than you paid for them you may find that no one wants to pay you what they are worth.  Track your trade over a few weeks to see how you would have done. It is my experience that the only people who make money on options are the brokers.


"If you sell the property before the ten years are up, the panels might have declined in value more than the amount you owe declined.  In the original post's situation, this is a negligible risk. Suppose (for the sake of argument) that each year's panels are 10% better than the previous year's panels.  Even if the panels lasted forever, and even if the price you could sell the power for stayed the same, then the value of your panels should decline 9% per year.  If the panels are financed at a 4.5% APR for 10 years, your principal should decline by 8.1% in the first year. A second risk is that the solar panels might be ugly, or might go out of fashion.  When selling a home, ""curb appeal"" matters.  If potential buyers do not like how your home looks with the solar panels, you might not be able to get as much money for the house if you have to sell it. A third risk is that the loan might harm your credit rating, or otherwise restrict your ability to borrow.  Even though this deal does not impinge on your disposable income, a bank might think that it raises your debt-service-to-income (DTI) ratio.  This could theoretically prevent you from refinancing your home, or raise the interest rates on potential loans you might want to take out. A fourth risk is that the installation process might damage your home in a way that causes expensive damage.  Water leakage and electrical fires can potentially destroy homes.  You need to have the solar system competently installed. A fifth risk is that the solar power system might make it harder to maintain or replace your roof.  Will your roof need to be replaced during the life of the solar power system?  If so, consider options that do not force you to throw away the solar power system prematurely."


"My point was basically anti-capitalist: my landlord is a leech, and a rich leech who dodges their property taxes at that (did I mention my landlord is **MIT**?).  There's no actual reason my building *needs* a landlord other than ""because capitalism"" and ""because MIT and Harvard are always sitting there waiting to buy any property that comes onto the market in Cambridge""."


The hours you list are all over the place.  Is it 40 hours/week or 65-80?  You best clarify it during your interviews.   My only tip is familiarize yourself with:   http://gipsstandards.org/   They may not use it, but at least know what the industry standard is.


They also developed Mafia Wars, Words With Friends, and Zynga Poker, which are hugely popular games on Facebook. These guys know how to get people hooked and how to monetize that traffic -- they're very, very good at it.


You can use it for medical expenses even if you don't have a high deductible policy. It can cover prescriptions, copays, deductibles, co-insurance, dentist, orthodontics... As long as it is being used for an approved medical expense there is no tax or penalty.  Yes it doesn't save you on the monthly service charges but it does allow you to cut your medical expenses for a while.


No.  Consider any professional sports team.  Just because a salary seems large doesn't mean it's large enough.  Especially when you look at the financials of the companies involved.  Are google, microsoft and apple hurting for capital?  Is there not enough venture capital to sufficiently seed new business development?    Don't shakedown other less profitable industries to subsidize industries that are overflowing with cash.  That's a big part of the problem in America's economy. Taking money from everyone to give it to preferred industries, that in many cases don't need it.


Required? No. It would be a good selling point though.  If you do offer an international multi-year guarantee, make it clear that your customers are required to retain proof of purchase and cover any international shipping costs.


"There are two reasons you would get a higher yield for savings accounts: either because it is not guaranteed by a national deposit insurance fund (CDIC I presume in Canada), or you have to hold it for a longer term. Money Market Accounts are insured in the U.S. and are also very liquid since you can debit from it any time. Because of this, they offer much lower rates of interest than comparable products.  If you look at the savings products such as the 1.50% momentum savings account offered by ScotiaBank, you actually have to hold a $5000 balance and not make any debit from it for 90 days in order to get the extra 0.75% that would get you to 1.50%. Essentially this is roughly equivalent to offering you a 1.50% GIC with a 0.75% withdrawal penalty fee, but simply presented in more ""positive"" terms. As for the Implicity Financial Financial 1.75% offering, it looks like it is not insured by the CDIC."


I took it to mean men in general who might interfere with dreams, even inadvertently. Other studies have come out showing that men benefit more in happiness and health by being married whereas women are about the same as not being married or worse off.   http://www.telegraph.co.uk/science/2016/03/14/marriage-is-more-beneficial-for-men-than-women-study-shows/


Dow Jones is a meaningless index that is only ever referenced in the media. It’s fundamentally flawed because the index constituents are weighted by share price, which is nonsensical (ie a $100 stock has a bigger impact on the index than a $50 stock) as opposed to the S&P500 which is market cap weighted (a $100 billion company has a bigger impact than a $50 billion company). People in the investment industry focus on the S&P index and pay zero attention to the Dow.


The bottom line is something in your story is not adding up.   You had two checks one that is voided, and one that is not.  Lets say they are both written against your account for $100.  Lets also assume that have exactly $100 in your account. You give the Liquor Store the voided one, they give you $100, but when they attempt to cash the check at their bank they are denied and assessed a $20 fee.  You spend the $100 they gave you; however, you still should have $100 in your account as the check was not cashed. You want to make things right with the liquor store.  You should be able to withdraw the $100 you still have in the bank and give them that much.  While they will still be out the $20 fee, that should make them feel much better about you as a customer.  Tell them when you will be paid and that you will give them the $20 on that date.  Then do so. The only way this problem is not solvable is that you spent the $100 that was left in the bank.  In that case, the Liquor store is correct you stole the money.  More accurately you spent money that wasn't yours.


A few of the answers are spot on but here's another thing to consider: the type of trade. For example, I sometimes day trade stocks with momentum where the stock price is spiking relatively fast. A limit order in this situation may never get filled and you will miss out on the trade. A market order will get you filled but you mostly likely pay more than your limit order. However you are now catching the wave up.  Overall, using a limit or market is relative to your trading style and the type of trade. I always prefer to use a limit buy order.


Working many hours is not uncommon. When I worked at Fidelity the first half of the month was about 40+, by the second half of the month it was easily 50+.  Working on Saturdays or holidays was not uncommon, it was a surprise if you were NOT there.  After Fidelity I worked at the AMA for some time and their hours were very structured.  I never worked a weekend while there and things were very smooth.  So from my personal experience it depends on what company you are working at.  Some are fast paced and demand a lot of your time, others are very structured.  If you're not married go for the busy job and get as much experience as you can.  If along the way you have a family find a job that can offer better structure.  When you start earning a decent salary you can easily afford a dog walker, maid, etc. and you manage to balance out things pretty well.  Its weird things just fall into place like that.  *shrug*


While there are many very good and detailed answers to this question, there is one key term from finance that none of them used and that is Net Present Value. While this is a term generally associate with debt and assets, it also can be applied to the valuation models of a company's share price. The price of the share of a stock in a company represents the Net Present Value of all future cash flows of that company divided by the total number of shares outstanding. This is also the reason behind why the payment of dividends will cause the share price valuation to be less than its valuation if the company did not pay a dividend. That/those future outflows are factored into the NPV calculation, actually performed or implied, and results in a current valuation that is less than it would have been had that capital been retained. Unlike with a fixed income security, or even a variable rate debenture, it is difficult to predict what the future cashflows of a company will be, and how investors chose to value things as intangible as brand recognition, market penetration, and executive competence are often far more subjective that using 10 year libor rates to plug into a present value calculation for a floating rate bond of similar tenor. Opinion enters into the calculus and this is why you end up having a greater degree of price variance than you see in the fixed income markets. You have had situations where companies such as Amazon.com, Google, and Facebook had highly valued shares before they they ever posted a profit. That is because the analysis of the value of their intellectual properties or business models would, overtime provide a future value that was equivalent to their stock price at that time.


I am a registered S-corp but for alot of industries that threshold is too low (I'm in housing) >Do you have any insight on average *effective* rates paid by SE owners? > >As a counterpoint to your (very valid) links, filing as S-corp allows for taxes on distributions to be exempt from payroll tax and taxed at much lower rates. Also, being SE allows for various deductions not possible for wage earners. There's probably other examples not immediately coming to mind. > >Also, SE taxes equal taxes otherwise paid by employer + employee. It's just that those employer taxes don't appear on the employee's paystub so not everyone realizes this.   The article I posted also doesn't take into account state taxes, do example non deductible B&O, end user Sales tax or  impact fees... That Employees don't pay or often even know about, yet some of us small business owners are also employees, so we get double taxed...


"I think a big part of this is sports coverage like he brought up. The only programming I miss from cable are live sports events. Luckily for me my favorite sport, the NFL, has kept games on non-cable television for local markets even when their games are on cable. Otherwise I might actually buy it.   What keeps TV in the game though are the contracts and blackout restrictions. I'm a big Wisconsin sports fan. I dropped cable in favor of picking up the MLB and NBA online options. The MLB one streamed game and looked great. The HD was spectacular and the service good. The NBA wasn't as great quality but definitely better than a free stream, plus I could pick up to 8 teams I wanted to watch. However, because of blackout restrictions and TV contracts I could never watch a Bucks or a Brewers game. The sole reason I purchased the products was to watch my hometown teams but the TV contracts prevented it. The NFL AFAIK only offers NFL replay--you can watch any NFL game 24 hours after it has been played. Anyone looking for a change in these policies can look elsewhere too. The NFL just signed a 10 year deal with television companies. Unless those channels want to start streaming the games on their websites it's not going to happen, unfortunately.   I personally think the leagues are losing profit because they're losing a large audience. There are plenty of customers who stream games illegally online that would happily pay for a higher quality product, but television is preventing this.   Also there has always been the excuse laid out by TV execs that ""we don't know how to properly monetize this content on the internet."" That excuse worked 5-10 years ago. I can't seem to buy it now anymore."


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You could use  the Gordon growth model implied expected return: P = D/(r-g) --> r = D/P (forward dividend yield) + g (expected dividend growth). But obviously there is no such thing as a good market return proxy.


used to trip out to AC from Pittsburgh (6 hour drive, more convenient than vegas), didn't care much for the beach just the gambling. Now that there's a full casino (tables/poker room/slots) right in downtown most of us don't really have much reason to make the trip out to NJ anymore


"By law, if the account was a ""minor by"", also called a ""custodian"" account, it automatically transfers to you once you reach the age of majority in your state, which I gather from your post is 18. Once you turn 18, all you should need to withdraw money is a state or federal government issued photo-ID, like a drivers license or a military ID, same as you would need for any other bank withdrawal at a teller. Or, an ATM card & PIN if you wanted to use an ATM."


"The entire idea of accountability in America has been in serious decline over the years.  Not to get on my high horse and preach, but this issue begins early on with child care and has branched it's way into our economics as well.  Kids get 9th place ribbons for races with 9 racers. Young post-college adults are struggling to survive on their own in the real world. CEO's are told to retire early as opposed to stepping down.  At the end of the day, everyone wants to credit themselves with a job well done and shift blame to others or outside forces.   However, this doesn't mean that there's no position left in the US with 'accountability.' For instance, the Fed Chairman has to be correct on their position or the entire economy can be destroyed in the process.   So what do we do instead? Those positions are the ones we blame for what's happening around us. So naturally, their response is to leave as delicately and unnoticed as possible.  If you ask me, those people at Equifax should be in jail. Not because of the hack, but because they waited so long to let everyone know. Stepping down and retiring shouldn't  mean they get away from it, the same way declaring bankruptcy doesn't mean I get away from my student loans.  If people started taking accountability for their own actions, America would be much more healthy in my opinion.  But then again, at the end of the day it is just my opinion, so you're free to believe whatever else you like. Cause you know what they say, 'opinions are like a**holes, everyone has one."""


Maybe I'm being naive but I would think that Amazon would have some kind of automated metrics that flag abuse. If your order to return ratio is out of whack, they should put in some limitations on returns for you. It would be easy to do and protect their business as well as 3rd parties.


I guess if you went with 100% digital tickets tied to a person's Amazon account you could deter some scalpers. There should still be a mechanism for transferring tickets to other parties. However, there could be a potential ceiling on how much you could mark up the price.


"Split transactions are indispensable to anybody interested in accurately tracking their spending. If I go to the big-box pharmacy down the road to pick up a prescription and then also grab a loaf of bread and a jug of milk while there, then I'd want to enter the transaction into my software as: I desire entering precise data into the software so that I can rely on the reports it produces. Often, I don't need an exact amount and estimated category totals would have been fine, e.g. to inform budgeting, or compare to a prior period. However, in other cases, the expenses I'm tracking must be tracked accurately because I'd be using the total to claim an income tax deduction (or credit).  Consider how Internet access might be commingled on the same bill with the home's cable TV service.  One is a reasonable business expense and deduction for the work-at-home web developer, whereas the other is a personal non-deductible expense. Were split transaction capability not available, the somewhat unattractive alternatives are: Ignore the category difference and, say, categorize the entire transaction as the larger or more important category.  But, this deliberately introduces error in the tracked data, rendering it useless for cases where the category totals need to be accurate, or, Split the transaction manually. This doesn't introduce error into the tracked data, but suffers another problem: It makes a lot of work. First, one would need to manually enter two (or more) top-level transactions instead of the single one with sub-amounts.  Perhaps not that much more work than if a split were entered. Worse is when it comes time to reconcile:  Now there are two (or more) transactions in the register, but the credit card statement has only one.  Reconciling would require manually adding up those transactions from the register just to confirm the amount on the statement is correct.  Major pain! I'd place split transaction capability near the top of the list of ""must have"" features for any finance management software."


Its a great time to buy! 2006, 2007, 2008, 2009, 2010, 2011 - NAR  Nothing but a bunch of leaches and add-nothing middlemen. The internet should have put them out of business with the travel agents. Instead, they successfully lobbied enough state legislatures to permanently wedge their club into one of the most valuable markets on earth. Our current economic troubles are worse because they were successful. An entire organization built around lying for profit.


I justed rented a new house, and they ran my credit to see if I am a reliable person.


"This is the best tl;dr I could make, [original](http://edition.cnn.com/2017/09/25/politics/north-korea-fm-us-bombers/index.html) reduced by 70%. (I'm a bot) ***** > &quot;Last weekend Trump claimed that our leadership wouldn&#039;t be around much longer and declared a war on our country,&quot; Ri said, according to an official translation of his remarks to reporters in New York.  > Speaking at the UN on Saturday, Ri said that Trump had made a missile attack on the US mainland inevitable by insulting the dignity of North Korea.  > &quot;Just heard Foreign Minister of North Korea speak at UN If he echoes thoughts of Little Rocket Man, they won&#039;t be around much longer!&quot; Trump wrote.   ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/72dj3v/north_korea_accuses_trump_of_declaring_war/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ ""Version 1.65, ~216271 tl;drs so far."") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr ""PM's and comments are monitored, constructive feedback is welcome."") | *Top* *keywords*: **Trump**^#1 **right**^#2 **bombers**^#3 **country**^#4 **war**^#5"


"I agree a disciplined environment is key to knowledge getting deeply implanted. I remember at my university there were some great professors. About 10% to 20% were not very good at all and a video online of a great professor would have been much better.  I suspect there's some analogy from the field of entertainment that will play out here. When movies got sound you had the best entertainers in the world available for everyone albeit in a more limited capacity than live. So a great performer on screen is more appealing than some percent of the lowest group. This technology killed Vaudeville but I doubt it will kill off the entire university system like it killed Vaudeville. I suspect the lowest performers will be out the door and the hippie professor types that don't provide motivation and structure will be out. I wonder if we'll have professor ""stars"" like we had movie stars and now have celebrity chefs and preachers."


"Reddit is mostly for links (title+link), look at this very post or at /r/all. Self-post on the other hand is title+""your text, which could include links"", like posts in /r/self. I didn't see pure links on Steemit, it's similar to /r/self, full of unique posts. That's what I meant, it's maybe better content-wise, but not for me, I am a bad post writer :)"


Yea exactly. And obviously this discussion is more political and cultural in nature, but I'd argue that behavior like his is going to hurt profits more than help them. It's divisive and antisocial and if I was going to run a company I would not want that negative attitude anywhere near.


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Np shit dipshit. But if you think you won't pay taxes, then you have your head up your ass. As long as you live here, work here, earn an income here... you are paying taxes here. Hey, but I hear there are no taxes in Somalia... Enjoy!


Many businesses that accept regular VISA credit cards will not accept VISA purchase cards intended for corporate/gov purchasing departments and able to furnish a more detailed audit trail (purchase order #, lot #, etc.) than a regular credit card.  Other merchants take ONLY VISA purchase cards.


When businesses use arbitration-only clauses, they essentially force any enforcement action for wrong doing onto government. No matter how egregious are the actions of the business, it is not financially feasible to arbitrate for small dollar issues and it is thus up to government to litigate.  This allows businesses to act with impunity as they know that the risks of government action are slim and there is no chance of getting sued by private parties.    Remember all of those unauthorized bank accounts that Wells Fargo opened?  When sued by private parties, they successfully argued that it must go to arbitration. The bank committed fraud against their customers and they still get to pick the venue and terms of any litigation.


Go check out wallstreetoasis.com. There are a lot of people out there like you and that site has a lot of folks in the industry. It's segregated by arms so you'll also probably be able to get a feel for what kind of finance you might or might not be suited for.


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I'm pretty sure you are don't actually plan to put £120,000 into a zero interest account, because when you take inflation into account, in 20 years, then £120,000 won't be worth anywhere near that amount.  For its value to grow you need the interest rate to exceed the rate of inflation and so paying 20% (or even 40%) tax on the interest can make the difference between whether being richer and getting poorer.


Look Japan is a completely opposite country to pretty much every other country in the world. So there is like no way to compare them. The most I could say is that people typically work an amount of hours that works for them personally so there is no issue like are they working to long or not long enough, unless you have something like a situation where people are  struggling to bring food on the table. That happens from time to time but not in a bad way


That's true the system does effectively give HFT a right of first refusal to everything it sees. If HFT is willing to take all comers at your price for longer than you are willing to wait then you are indeed out of luck.  OK it's cheating :)


Lazy uninformed journalism. Describing the Institute of Directors as non-political is laughable. They pop up very regularly in the media to support the most right-wing policies and bash any sign of dissent. And no chance of Spain exiting the Euro any time soon given their recent election results.


Note: that the New Zealand CPI in 2014 Q2 is 1.6% Year on Year, that is it is the inflation rate from 2013 Q2 to 2014 Q2. The quarterly change from 2014 Q1 to 2014 Q2 is 0.3%. Check out this Inflation Calculator. At the same time the Official Interest Rate in New Zealand was just raised on 24th July 2014 by 25 basis points to 3.5%. So your savings in the bank at a rate of 4.5% is beating inflation, but once you deduct any tax from the interest earned, you are just beating the current inflation rate, which is not really a good long term investment choice.


Wow this is a perfect example of the apathy of customers.  This scandal is literally about their auto loans, and that's what the article is about.  How are you ever going to know if something is affecting you if you won't even read the damn article about a company YOU DO BUSINESS WITH?  Seriously this couldn't prove the point of the comment you're replying to more.  It's stupid consumers like you that allow these companies to get away with this shit.


"The homeowner gets all the profit from the price rise, because it's their asset. The bank will charge early repayment fees, but these are often a small fraction of the profits. This is why homeownership in rising markets is so popular: it offers the benefits of ""gearing"" a financial investment so that you can make profits that are a very large fraction of your principal (initial equity)."


In a perfect the world, the most ideal solution would be to find a way to pay back all of your debt so that your credit will not be affected any further. Unfortunately, it does not work this way most of the time. Debt settlement is where you work with a creditor to settle your a credit card debt for less than the full amount owed. This could be a very viable solution for you instead of filing for bankruptcy. However, there are many scams out there when it applies to debt settlement so you must tread carefully. Debt settlement can only occur when you're behind on your payments. If you are currently paying off your payments successfully, the creditor has no obligation to settle when they think you should be able to pay it fully back.


Gary Bussi in True Romance, sure you would have seen that.  And on the reddit thing, logout and have a look at the home page with no subs.  Now tell me what new users it invites.  Reddit need to remove /r/funny and /r/pics off the standard none logged in home page.  The entire page is filled with cats.   Will you fucking whippersnappers stop thinking cats are funny, they are not, and you waste my valuable time with cats and meme's


I have business experience. I started a few small ones but never got huge. One was bought before I could really start making any systems to help operate it and the other failed because I didn't know the logistical end of things. I've recycled at centers before. My plan now is to basically pay people to pick up their recycling from their homes and then recycle it in bulk when I get enough


"> Although there are numerous countries that welcome investors   Yes, I hear that when one's welcome has been worn out in Japan, Thailand is the place to be. Ladyboys, sluts and frauds, Bangkok is your one-stop shop to get f*cked in more ways than one!  >potentially profitable options  The key question being, ""Profitable for whom?""  >Another factor which can help you make up your mind when searching for a good service provider is experience.  Yes, Richard Cayne's clients have undoubtedly amassed ""extensive experience""; not much money, but experience in spades. Suggest ""consulting with them on a wide array"" of these experiences first.  > Richard Cayne Meyer the manager of the world renowned Meyer International   Ah yes, renowned indeed -for spamming and scamming, for cash and dash."


You wouldn't fill out a 1099, your employer would or possibly whoever manages the stock account.   The 1099-B imported from E-Trade says I had a transaction with sell price ~$4,500.   Yes.  You sold ~$4500 of stock to pay income taxes.  Both the cost basis and the sale price would probably be ~$4500, so no capital gain.  This is because you received and sold the stock at the same time.  If they waited a little, you could have had a small gain or loss.   The remainder of the stock has a cost basis of ~$5500.   There are at least two transactions here.   In the future you may sell the remaining stock.  It has a cost basis of ~$5500.  Sale price of course unknown until then.  You may break that into different pieces.  So you might sell $500 of cost basis for $1000 with a ~$500 capital gain.  Then later sell the remainder for $15,000 for a capital gain of ~$10,000.


"At first blush, this seems like it makes sense - assuming, like you say in your question, that you are perfectly confident in your ability to repay (even if you need to pay the balance in full if you lose your job), then this seems like a guaranteed 4% return, and a reasonable part of your retirement portfolio. Where it falls apart, though, is that you're paying yourself. You're just taking the money out of one pocket and putting it in another. So really you're getting a guaranteed 0% return. You're losing the compounding growth of the loan amount while it's out of your accounts, and the fact that you can afford the 4% interest means you could have been putting that into a requirement account as well aside from the loan - so it doesn't really count as ""interest"" in the sense that your money is passively making money for you. So ultimately: no, it shouldn't count as part of your bond allocation."


If you are looking for commercial solar financing company for your Solar Panels then you are at the right place. We provide secure, up-to-date and reputable financial advice, guidance, and support to our clients. For more you can call us or visit our website.


social manipulation chat bots are an absurdly small piece of the overall pie when it comes to this.  The thing is basically a giant public offsite cloud message bus with almost perfect uptime. It's even useful for things that have nothing to do with actual humans using it.


>Actually, government bail outs are in the socialist/communist section.  Does that make George W. Bush the American Stalin?  Cronyism happens everywhere, in communism, capitalism, wherever social connections are an important influence in any decision-making.  >If it were capitalism fueling it, the government should have let the companies fail, since apparently the population doesn't want to support them enough.  No, the reason the public supported it was that they'd spent the last 4 decades putting money into their 401-k and other investments like they were told to, and the investment banks threatened to 0 out all their accounts if they didn't get the money they deserved...  So that worked out fine then.


"When my wife was ripped off by a locksmith (charged $60 initially and then added a $250 ""fish out fee"" after the work was done), we went to the BBB. We tried to talk to the locksmith, but he would hang up everytime he found out it was me on the phone. We had a few exchanges with the locksmith on the BBB website and after some back-and-forth, we went to arbitration. I got the $250 back and never would have even been able to communicate with this jackass if they weren't BBB accredited.  I know Reddit hates the BBB, but they are a handy resource when you get screwed over. Even if things don't go your way, it at least gives you an opportunity to communicate when the business is ignoring you."


"This is the best tl;dr I could make, [original](https://www.citylab.com/life/2017/08/where-robots-are-doing-factory-jobs/537327/) reduced by 82%. (I'm a bot) ***** > It is followed by Toledo, Grand Rapids, Louisville, and Nashville-manufacturing hubs where the number of factory robots has tripled between 2010 and 2015.  > These aren&#039;t necessarily the places where robots will dominate in the future.  > Specifically, the robots map suggests that robot and broader economic anxiety may also max out in the industrial Midwest-particularly in such robot-exposed &quot;Red&quot; states as Michigan, Wisconsin, and Pennsylvania where the election&#039;s outcome was determined.   ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/6vd249/where_robots_are_automating_jobs_in_the_us/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ ""Version 1.65, ~196352 tl;drs so far."") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr ""PM's and comments are monitored, constructive feedback is welcome."") | *Top* *keywords*: **robot**^#1 **where**^#2 **automation**^#3 **jobs**^#4 **map**^#5"


You're not responsible for the mortgages on the property - those are agreements between the lender and the borrower. The risk you have is that the title search missed something.  If the seller (i.e., the bank or banks who foreclosed) did not have full rights to sell the property, and there was another party who had a lien on the property or had an interest in it in some fashion, that party could make a claim that would interfere with your purchase.  You wouldn't be responsible for the loan, but you might not end up with the title to the property if that happened.


Well, that's the clever part of it.  If you only dole out effective surpluses to those who have squandered a bunch of energy, then you've incentivized a certain lifestyle and robbed people who don't live that lifestyle to finance it.  It's what we've been doing for 40 years (give or take) with consumer goods.  They keep getting cheaper and higher quality, so if you're not budgeting a healthy portion of your annual income on consumer goods then you're missing out on the effective surplus.  That incentivizes participation in the mass-production, consumer culture.  Which in-turn keeps the wheels of the economy turning, and keeps all the little worker-bees in line.  If you just handed people more money, they might get crazy ideas like starting their own businesses, organizing labor unions, running for political office, taking a day off work to go vote or attend council meetings, and generally being a nuisance to the people that run everything.  You wouldn't want that, would you?


">Privatization and outsourcing of knowledge is much cheaper than in-house economies of scale... wait, what?  It's a short-term gain ... problem with short term things is that when you do them repeatedly year-after-year, you pile-up a long-term loss (which eventually comes home to roost).  >When this grand experiment is proven to not be the panacea of the business world's quest for cost reduction, we'll all look back and laugh at how silly these guys were.  You mean like the housing bubble, when *everyone* was getting rich ""flipping"" their homes back and forth between each other.  >It's like saying it's cheaper for a family of four to eat out three times a day, seven times a week (at restaurant that serves food with quality comparable to home cooking) than it is to cook at home. We all know home cooked meals are more cost effective unless you're eating the bottom of the barrel fast food, even then, externalities of health and well being make the savings questionable.  Well said."


agreed. shorting the box kills you on commissions. your negative theta on a straight put position won't be a problem until you're at least 60 days from expiration. (i would even argue you're safe until 30 days out.) plus the positive vega can give you some extra juice if gold does end up falling.


It's plywood with a laser cut living hinge. I'd be interested if it could be die cut en masse. I think it'd need some glue along key joins and something to keep the hinge shut during transit as a friction fit will probably fail somewhere.  If you want to do this on a small volume, buy a cheap laser cutter which can do 4mm plywood could let you make boxes on demand. You could make quite a few before you hit the break even point for plywood die cutting tooling and a minimum production run.  Or find a factory which does laser cut ply in china (alibaba) and get them to make 100.


I think three things are happening right now:  1) The stock market is one of the only sensible places to get a return on your money. Bond rates are very low and real estate is a little trickier.   2) There are fewer publicly traded companies now than there have been in the past. It's easier to invest in public companies than private companies, so more money is going into fewer companies, inflating the prices.  3) Wealth inequality is higher now than it has been in decades. If you give poor people more money, they just spend it to lead more comfortable lives. They won't invest in the stock market. If you give a rich person more money, they just invest more of it, since they are already spending as much as they reasonably can. In this economy, for the past few decades, we've been giving the rich more and more money.  So, with these 3 factors, more money is pouring into the fewer companies of the stock market, inflating their prices.   (At least, this is the idea put forward by a Fidelity analyst I heard a talk from recently, and it makes sense to me).


Have you looked at mint? Their budgeting feature can track spending against your budget categories across your checking and credit card accounts. Not the same as the envelope system -- so if you need the built-in limitation that this provides, it may not work for you. But it is a low-effort, automatic system that does the tracking for you if you have your spending mostly under control.


Do you have any skills/qualifications that would facilitate an easy change to finance? E.g. economics/finance studies or relevant experience.   Also I'd be slow to add further debt unless it increases expected earnings on the other side.


"Ditto mhoran_psprep.  I'm not quite sure what you're asking. Where does the money come from? When someone starts a bank, they normally get together a bunch of investors -- perhaps people they know personally, perhaps they sell stock -- to raise initial capital. But most of the money in the bank comes from depositors. Fundamentally, what a bank does is take money from depositors and loan it to borrowers. (Banks also borrow money from other banks and from the government.) They charge the borrowers interest on the loan, and they pay depositors interest on their deposits. The difference between those two interest rates is where the bank gets their profit. Where does the money go when you pay it back? As mhoran_psprep said, some of it goes to pay interest to the depositors; some of it goes to pay the bank's expenses like employee salaries, cost of the building, etc; and some of it goes as profit to the owners or stockholders of the bank. If you're thinking, ""Wow, I'm paying back a whole lot more than I borrowed"", well, yes. But remember you're borrowing that money for 20 or 30 years. The bank isn't making very much money on the loan each year that you have it -- these days something like 4 or 5% in the U.S., I don't know what the going rates are in other countries."


My favorite part about using a local credit union is, if I have an account issue, I can just call up and talk to someone who works five minutes from my house without *ever* punching numbers into an automated answering system. Good luck doing that with Bank of America.


Employment numbers will have to reflect the gains that those hurricanes produce in the coming months. It is a temporary job loss but the hurricanes add many jobs, from construction to tree and debris removal to car dealerships, etc. These storms create a positive influx of money to the local economies.


Patrick, This article points out three likely effects (direct and indirect) sovereign default can have on the individual: http://tutor2u.net/blog/index.php/economics/comments/the-sovereign-default-option-is-costly/ This looks at how a default may not look like a default - even if it is. But again, how defaults can impact the man in the street: http://online.wsj.com/article/SB10001424052748703323704574602030789251824.html The fascinating Argentine default is described in a blow-by-blow format here, including brief references to things like unemployment and personal savings: http://theinflationist.com/sovereign-default/argentine-sovereign-default-2002-argentina-financial-crisis Remember, though. Not all defaults are the same. And a modern-European country's default may look very different to what has occurred elsewhere.


I'm already bored of it.  It's funny, the first comment I happened to read about it was that power users would start complaining because their precious karma train had stopped.  And the next day the power users are out in force complaining on any sub that will take them.


You're free to provide services, but if you stay in one country for more than half a year - you're generally considered to be its resident for tax purposes. Germany is no exception to the rule, in fact - this is true to almost any country in the world. If you provide the services from Poland, and never set foot in Germany - they won't say a word.


When you buy a call option, you transfer the risk to the owner of the asset. They are risking losing out on gains that may accumulate in addition to the strike price and paid premium. For example, if you buy a $25 call option on stock XYZ for $1 per contract, then any additional gain above $26 per share of XYZ is missed out on by the owner of the stock and solely benefits the option holder.


I wouldn't say 90% but it is a lot. Oracle Financials is also quite big.  Excel is used for reporting.  To give you an idea of how one big organisation does it, the balance sheet is SAP. Transactions are done with Oracle, the two are reconciled and reported via Excel.


If you are married filing separately, you need to choose the same type of deduction (standard or itemized) as your spouse. Since you checked the box on line 23b, you indicated that your spouse chose the standard deduction, so you must use the standard deduction also.  The standard deduction for married filing separately this year is $6300, but because you checked one of the boxes for yourself in 23a, you get to add another $1250 to your standard deduction, for a total deduction of $7550. This number belongs in line 24.


> Eventually it will have to come to a screaming halt.  That will be when Eastern Europe gets closer to Northern Europe economically, their strategy is ultimately self-defeating to the aggregate benefit of all. It's not a race to the bottom but a race to equilibrium.  This is already happening in China a bit even though their per-capita GDP is so much lower than the developed nations.  Whether it will balance out without a large drop in rich country living standards or large negative changes to inequality is less certain though.


"~~Don't know any specifics of GE or what they did, but they very would could have elected a carryback instead of a carryforward and received a refund.~~  Edit: Ok, I actually went and looked at the income statements for GE. They did *not* get a refund. They did *not* get a check from the government for the refund. This all took place between the balance sheet and the income statement. It goes down like this:  GE has on their books ""Deferred Tax Asset"" for XX billion dollars. This came from a year when they had an operating loss. They are carrying this loss forward as a deduction on their taxes (that's what makes it an asset, it's an asset to the company as it decreases their taxes).  For years, they've been reducing that Deferred Tax Asset account, and adding that amount to their ""Income After Tax"" amount. At the end of 2009, the amount they reduced that Deferred Tax Asset account by just so happened to be larger than the amount they decreased their income by due to taxable income that year.  No one wrote them a check for the difference."


>I know very well how my local government works  >Presidential and statewide elections have no bearing on employment contracts for city workers.  You seem to think Port Authority employees work for the city. This is obviously untrue. If you are unable to understand this simple fact, you clearly overestimate your understanding of the local government. The governor for the last 5 years has been a democrat. David Paterson appointed the current executive director of the Port Authority. How can you possibly agree with OP blaming this on republicans?   How am I being disingenuous? I have simply stated hard facts while you have misled with your insinuation that this was a republican's fault, which it is not.


>The point of a business is to make a profit. End of story.  Thats a narrow and short-sighted interpretation of business practices. The rest of your comment devolved into strawmen and bullshit so I'm not going to bother addressing it. Your links were equally irrelevant but I appreciate the fact that you at least *tried* to source a reasoned argument. You didn't succeed but at least you tried.


>  Shitty? No doubt  I doubt it - in fact, I think it's quite reasonable.  Exceptions and loopholes aren't in the tax code *by accident*, they were put there deliberately so certain people wouldn't have to pay their taxes.  'Dodging' taxes legally is following the rules.  Period.    Have you ever given part of your paycheck back to your employer because you feel like you didn't work hard enough to earn it, or that you'd rather contribute to the company succeeding?  **Fuck no**.  We're buying israel weapons to bomb hospitals and daycares, flooding the military with weapons and tanks they don't need, *then* giving those to our cops so they can run us over and shoot us with them.  Then there's the PA Turnpike Commission here (don't even get me started).  We're paying the NSA to listen to and watch everything we do, and pumping all that info back to israel and others.  And I'm supposed to somehow *voluntarily* pay more for these things?  Pfff.  The only thing *shitty* here is the tax code to begin with - the winners are the slimy politicians, the ultra rich and conglomerate corps; the losers are small businesses and the middle class - both of whom don't have the cash base to pay for legal services to reap such tax benefits.  Ya know, the same people all the politicians circlejerk about protecting and helping to thrive - hanging them out to dry.  Taxes too high is a minor problem - not enough people paying them is a bigger one, but wasting them is worse than either of the two combined.


There are two different liabilities here. You signed, so the bank can rightfully demand the money from you. Even though it is not your debt. You signed, so you have to pay.  However, it's really the business that is responsible for the account, so you can ask the business to refund the money. You might ask them to pay the bank instead if you haven't paid yet.


It may be true that nearly everything in a high end store that does not sell goes to an outlet store. That does not mean that everything in an outlet store came from a high end store. The article states around 50% of some brands sales come from outlet stores. There is no way that all of that 50% was originally in one of their higher end stores.


In most cases of fraud, your liability is limited to $50 if you report it within certain number of days (I think 2). After that the liability grows to something like $500. You are covered even if your negligence has caused the breach. In addition VISA guarantees credit cards - in most cases you have 0 liability. Finally checking & savings accounts are FDIC insured up to $250,000 in case the bank goes bankrupt. The $250,000 is a total for all accounts at the given bank. It's up to  you to report and ask for refund though and sometimes you have to jump through hoops to get it but usually it's fairly straightforward and it usually takes only 2 or 3 days.


While paying off your debt quickly is obviously desirable it is simply not going to be possible. Even with tight budgeting I think you will struggle to put more than £500 or so per month towards your debt. I would keep trying to move the highest interest debt onto something cheaper, be it a loan, a balance transfer credit card ( http://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards#nofees ) etc.  It is also worth looking at your current credit cards more carefully. Sometimes you may be able to get a balance transfer deal on an existing card by talking to the card issuer, then shuffle your debt around to take advantage of it ( http://www.moneysavingexpert.com/credit-cards/cut-credit-card-interest ) Some think it's taboo but in your position I would also be seriously considering if you have any friends and family who can lend you money at a less crippling interest rate.


I'm of the belief that, long term, fees eat away at your performance. If you chose an ETF, say VOO, with its .05% expense, and a short term bond fund or money market fund, you are going be ahead, long term.  It's pretty much accepted fact that money managers are not beating the average long term.  For you to simply do as well as I do (S&P less .05%) your guy has to beat the market year in, year out, by 1.2%. Not going to happen. Yes, in hindsight, some funds have done this. Over the decades, losing funds are closed, or merged into performing ones. But, in the end, the average fund lags the average market return quite a bit. To pay someone 25% over two decades isn't what I'd recommend to anyone.   There was recently a PBS Frontline special, The Retirement Gamble, (and this link to my article reviewing the show).    I put up an image  which shows the effect of 50 years' impact of expenses. The Vanguard S&P ETF, linked earlier has just a .05% fee. In my chart I show .1%, and then a total 1% or 2% fee. $447K return for .1%, $294K for 1%.  I'm painfully aware that 3/4 of US taxpayers aren't saving at all. For those that are savers, the value in learning about investing is huge. This isn't a onetime $150K saved, but the savings on just that $10K deposit. Meanwhile, before you learn this, a pay-for-his-time fee-only planner is worth it, for a meeting and first year follow up.


">Let the airports handle security.  The last time we ""let the airports handle security"", they hired some teenagers at $7.25 to do ""security"", and some guys flew 2 planes into the WTC killing 3000+ people.    You sure you want the airports to ""handle"" security again?  I may not like the TSA, but the alternative (and that is the alternative; crackheads making minimum wage, because they not going to spend one fucking *dime* more than is absolutely necessary) is far worse."


An overvalued blue chip is  likely to retain some value if things go the wrong way.. Derivatives are a different game altogether. He said the average investor, which is accurate.. a slightly more inclined amateur will go for strategies such as value/growth.. but amateurs don't usually touch complex CDS/swaps/collars/etc.   I get where you're coming from, and I agree, being an institution in itself doesn't guarantee better results.. but you're fooling yourself if you think they don't have advantages over retail investors.


"This is the best tl;dr I could make, [original](http://reason.com/archives/2017/07/28/deregulation-and-market-forces-can-lower) reduced by 91%. (I'm a bot) ***** > Drug companies argue high prices offset the high costs of developing new drugs.  > Patents are normally defended as a necessary incentive for drug price innovation, but if FDA approval costs were lower, this incentive could be reduced - by, for example, shortening the life of pharmaceutical patents.  > Reining in drug prices as Democrats are suggesting would not only benefit consumers who lack adequate drug coverage, but it would reduce government spending by tens of billions of dollars a year.   ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/6q77yt/deregulation_and_market_forces_can_lower/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ ""Version 1.65, ~178119 tl;drs so far."") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr ""PM's and comments are monitored, constructive feedback is welcome."") | *Top* *keywords*: **drug**^#1 **price**^#2 **cost**^#3 **pharmaceutical**^#4 **prescription**^#5"


"not sure if I will help or just spread more gibberish but maybe the first concept I'd look at is risk tolerance.  Risk tolerance is discerning your ability to risk losing money to get better results.  So you know the saying ""the higher the risk the higher the reward""?  The way most people are going to operate is somewhere on the midpoint of behavior - not doing the riskiest thing, but not doing the very most cautious thing either.  So given that concept, some investments will be more appealing given different economic scenarios.  Typically stocks are going to reward your investment a little more aggressively than a treasury bond if the economy is humming along.  This drives prices of treasuries lower, stock yields higher.  In a crappy economy, people want to move their money into conservative investments like a treasury bond. Bond prices rise while stock prices dip.    If you google 'correlations between the market prices of stocks and the market prices of Treasury bonds' you will find plenty of helpful and hopefully not too convoluted articles a la http://finance.zacks.com/correlation-treasuries-stocks-10871.html Don't get freaked out by graphs, the graphs are just a way to put into a picture that correlation."