For whatever it's worth, when I went to the meeting a couple of years ago, the question and answer segment is mostly students asking how to pick a stock or what book they should read.  I'm sure someone else will ask but it would be interesting to hear their take on the Syrian refugee situation in Europe and how it may impact the EU in general.  Or how he/they think the drought in the south western region of the US will impact the national economy, if at all.  Like Keshlam says, if YOU don't care about the answer there's really no point to asking the question. The most important thing you can do is listen to what he and Munger have to say.  The way they think is interesting and they have great rapport with eachother.  It's a great experience and unfortunately I wasn't able to make my schedule work to attend this year.  It's almost comical how many cans of Coke Warren will knock out through the day.   Another fun thing to do is take the shuttle to the airstrip to check out the NetJets.  I wish I had the interest and wherewithal to go when I was 16...


> 1. What exactly happens when I deposit $1000 to the bank? Does it lend to other parties $900 of what I have given them?  Yep.  > Or it turns my whole deposit into their reserve, then borrows $9000 from the central bank, and lends this sum to their customers?  No, the bank can't loan more money than it has in deposits. Note that this does create money because, in this example, the bank loaned someone $900 but it still owes you $1000.  > 2. What happens when I'll make final payment on my loan?  Is this a different example or are we assuming your original $1000 was loaned to you?  Regardless, every time you make a payment on a loan the bank can re-loan that money to someone else.  > Does the bank also pay its base to the central bank (+ base interest rate) and keeps only their interests?  The central bank has not been involved in this transaction so it doesn't receive anything.  > Does the central bank remove from the circulation money it received back?  Yes but I think you're switching topics.  A central bank's transactions are more about managing the money supply and inflation of a [fiat currency](https://en.wikipedia.org/wiki/Fiat_money#Money_creation_and_regulation).  Ideally a central bank trades a bank's paper assets for reserves adding or subtracting to the bank's ability to issue loans.


I dunno, the problem with a great depression taking place today is that we're all interconnected...   Despite the massive debt burdens & imf knocking on doors, things are not as tough as they could be. Most of us will not starve to death and have a roof over our heads.We'll be looked after when sick and can afford basics which were once considered luxuries i.e. TV, internet, microwave etc...  Yet that's the kind of picture you paint when you mention the great depression - walking around barefoot, worrying about where the next meal will come from... it's scaremongering at best and it allows the people with cash to demand higher interest / payback, so it's in their best interests to keep hyping the shit out of doom & gloom news.  It's all getting a bit see-through imo and people are beginning to question whether 'the markets' and 'bondholders' are real people or whether they're some make-believe, unquestionable god.


Anecdotally, we recently bought a house in a really hot labor market. Our agent told us that she has a lot of people who are looking to sell (enough to start working with an agent) but are refusing to list their houses because the prices keep going up. She is begging them to list but they keep waiting, driving up prices even further.


Ah, that's the colloquially known Thomas Crown motive. The issue with that is that money is objectively quantifiable to a point, so one can do a risk/reward analysis for the potential profit vs. the potential dangerous of robbery when money is the motivating factor. Risk appreciation, on the other hand, is more difficult to quantify. It's even more difficult when one considers that there's a direct relationship between pleasure from risk and potential danger.   In short, it would change from person to person, so I can't imagine trying to use inductive reason to form any broad conclusions.


I guess it depends where you are. That would make sense. I'm always stunned by the amount of Latinos eating in Chipotle though (in CA). I know where all the burrito places are (not far) and I'm wondering what's going through their heads paying more for sub-par, rice-filled burritos.   Given the shockingly high Hispanic percentage in Chicago, it's interesting to see you don't see the same trend. My guess is the Chipotles you're frequenting aren't in the more Hispanic parts of town? Most of the parts of LA I'm talking are Hispanic/Armenian and so those are the customers. In an area where you can walk for days and not see a white person in a car (unless you're near a Whole Foods), it makes sense that I'm not seeing them at the local Chipotle.  Rick Bayless isn't just good for gringos, he's good period. Though I don't know Xoco. I thought his main restaurant had a different name. I love that one of his places is now in O'Hare. Lucky lucky! Chicago has the best food in America!


"negotiability is a legal concept that permits free transfer of a security without the requirement of prior consent of the issuer.  that means the issuer must pay the current holder of the security, irrespective of who he is.  negotiability also protects a good faith buyer of the instrument from adverse ownership claims of purported prior holders of the instrument.  it is not related to ""negotiating"" the price or whatnot.  A negotiable security means the current owner does not have to be concerned about acquiring the asset via a bad chain of title b/c he can always assert that he is a ""holder in due course"" defense against such claims, and have absolute security in his ownership right over the asset.  securities and derivatives are different.  securities are transferrable instruments representing a direct claim on the issuer for the value of the security, whether debt or equity ownership.  derivatives are bilateral contracts, which can only be entered into with the consent of both parties, and can only be transferred by such consent.  derivatives represent a claim against the parties of to the derivative that depends on some economic reference which is outside of the financial condition of the two parties to the contract, such as interest rates, FX rates, commodity prices, etc."


"In general, all forms of debt are bad, as they keep you tied to a financial institution and can be an emotional burden for many. In the book Payback (by Margaret Atwood), debt is even described as a sin. However some forms of debt are necessary and some can help create wealth. ""Good"" debt: a mortgage - to purchase a home, which is an asset that usually appreciates in value.  Necessary debt: car loan or lease - only when there is no other mode of transportation to get to work. Really bad debt: unpaid credit cards - for dinners out."


"I will be attending an ""Information Session"" today with a BB firm with reps from back office/middle office divisions. I've never attended one of these before, but have done a fair amount of research on the firms and divisions that will be there. Can anyone give me any insight on how these events usually go? Should I try to introduce myself to a few people from the divisions I'm interested in, and then follow up with them right before/after I submit my application? Or just ask them some general questions or something. Sorry if this seems like a silly question, I've just never attended any event like this for finance before."


They are pretty good. But for better rates, shop around. I'd suggest Ally or Alliant Credit Union.


Unfortunately, my taxes tend to be complicated This. In and of itself, is a greater reason to keep the documents. The other answer offered a good summary, but keep in mind, if the IRS decides you fraudulently withheld claiming income, they can go back 7 years.  I bought a rental property in 1987, and sold it in 2016. In that case, keeping the returns seemed the right thing to do to have the paper trail for basis, else I could claim anything, and hope for the best.  I have all my tax returns since my first tax return, 1980. It's one drawer of a file cabinet. Not too great a burden.


If you want to invest in stocks, bonds and mutual funds I would suggest you take a portion of your inheritance and use it to learn how to invest in this asset class wisely. Take courses on investing and trading (two different things) in paper assets and start trading on a fantasy exchange to test and hone your investment skills before risking any of your money. Personally I don't find bonds to have a meaningful rate of return and I prefer stocks that have a dividend over those that don't. Parking some of your money in an IRA is a good strategy for when you do not see opportunities to purchase cashflow-positive assets right away; this allows you to wait and deploy your capital when the opportunity presents itself and to educate yourself on what a good opportunity looks like.


Hollywood doesn't care about the message that the films produce, they don't care about the social change. All they care about is the money that they will lose if the industry system falls apart. They are worried that what happened/is happening to the RIAA will happen to the MPAA, and that is what they are trying to protect against.   Why would James Cameron go to Fox to distribute his movie, if he could just distribute it himself and keep more of the profits. That's their biggest fear. If they can't control the distribution methods on the internet, then they can't control their inevitable deterioration into obsoleteness.


"Can I write off the $56,000 based on demand letters? Or do I need to   finish suing him to write-off the loss? No and no. You didn't pay taxes on the money (since you didn't file tax returns...), so what are you writing off? If you didn't get the income - you didn't get the income. Nothing to write off. Individuals in the US are usually cash-based, so you don't write off income ""accrued but never received"" since you don't pay taxes on accrued income, only income you've actually received. Should I file the 2012 taxes now? Or wait until the lawsuit finishes? You should have filed by April 2013, more than a year ago. You might have asked for an extension till October 2013, more than half a year ago. Now - you're very very late, and should file your tax return ASAP. If you have some tax due - you're going to get hit with high penalties for underpaying and late filing. If the lawsuit finishes in 2014, does it apply to the 2012 taxes? Probably not, but talk to your lawyer. In any case - it is irrelevant to the question whether to file the tax return or not. If because of the lawsuit results something changes - you file an amended return."


Burger King actually only owns and operates 52 stores in the US total (that are used as testing locations). The rest are all franchises.  I wonder how the franchise payments work out in this situation, there might be very little restructuring needed once BK moves to the great white north.


"In the US, the title company usually collects all money being paid by parties to the sale (including the buyer, seller, and mortgage companies) and then pays out money where its due to the respective parties (the seller, and possibly mortgage companies, housing inspectors, etc.)  If you have equity, meaning that you sold your house for a price greater than what you owed on your mortgage, you'll typically get them money from the title company, but they are really passing through money that they got from the buyer (less whatever fees are going to the title company itself and other third parties involved). One misconception, however, is that if you paid off part of your mortgage over time that you automatically ""have equity.""  That's really only true if you find a buyer willing to pay a price greater than what's left on your mortgage.  When housing prices decline, it's possible that you as the seller may need to bring a check to closing and do not get any money back. (They buyer is presumably bringing a bigger check, but you would need to make up the difference between what the buyer pays and what you still owe on your mortgage.)"


In Phoenix you can get a two bedroom for $600/mo in an okay neighborhood if you know where/when to look, and a bit cheaper if you're willing to go a bit skeezier. Since we are talking minimum wage, you should be hopefully be able to find a job within biking distance (or, if you live in Tempe, take the free bus.) Have one person work mornings and the other work evenings/nights and you don't need daycare. (Other options: have them stay with a nearby family member, trade off watching the kids with other working families, or go for a three bedroom, grab a family member, and have someone work a 20-hr week instead.) Electricity averages to something like $100/mo over the course of the year (my high was about $150, low was around $40 in a two-bedroom.) So ~$700/mo for shelter, maybe $30/mo for a bus pass. That's $730/mo. I'm not saying it would be comfortable, but it can be done.


Yep, I thought this was how it was done in almost engineering disciplines. Extremely detailed spec sheets, but not blueprints. It's obvious why... making blueprints for a manufacturing facility you don't know anything about is difficult, and I'm sure it results in a nightmare of trading plans and revisions back and forth between the engineers at home and at the contractor, as well as duplication of engineering talent (and cost-saving was the reason Boeing was subcontracting in the first place).  NASA didn't provide blueprints when doing the original Apollo mission (arguably the best example of gigantic subcontractor jobs), they provided extremely detailed specs and watched progress like a hawk.  The main problem sounds like the subcontractors were subpar and not properly managed.


Who really creates jobs? A symbiosis of entrepreneurs willing to take risk to introduce something to the market, consumer demand for more or new products, existing businesses expanding their base due to this demand, and yes, even government stimulation and incentive. Plus a hundred other factors I forgot.  It's never as simple as one might want it to be.


Like the old Perrier-San Pelegrino case study?  Market Basket offers a much much better experience then the local Shaws, A&Ps, Stop and Shops and other crap.  I think product differentiation should help them out to gain back customers.  Also, people want to be part of the story, which in this case involves a triumphant return of the CEO.


"Your initial plan (of minimizing your interest rate, and taking advantage of the 401(k) match) makes sense, except I would put the 401(k) money in a very low risk investment (such as a money market fund) while the stock market seems to be in a bear market.  How to decide when the stock market is in a bear market is a separate question. You earn a 100% return immediately on money that receives the company match -- provided that you stay at the company long enough for the company match to ""vest"".  This immediate 100% return far exceeds the 3.25% return by paying down debt. As long as it makes sense to keep your retirement funds in low-risk, low-return investments, it makes more sense to use your remaining free cash flow to pay down debts than to save extra money in retirement funds. After setting aside the 6% of your income that is eligible for the company match, you should be able to rapidly pay down your debts.  This will make it far easier for you to qualify for a mortgage later on.  Also, if you can pay off your debt in a couple years, you will minimize your risk from the proposed variable rate.  First, there will be fewer chances for the rate to go up.  Second, even if the rate does go up, you will not owe the money very long."


If you are not planning on living in your condo for at least 10 years don't do it. For about 5 years your mortgage will be more then rent, after 5 years you start to break even and may start paying less. On the other hand, if you plan to be there for 10 years or more it might be a great savings tool,


The dividend goes to he who owns the stock when it goes ex-div. A buyer (the call buyer who exercises) will not exercise unless the stock plus dividend are in the money. Otherwise they'd be buying the stock at a premium.  I like the scenario your friend doesn't. If I can find a high dividend stock and sell the call for a decent price, I may get a great return on a stock that's gone down 5% over a year's time. If it goes up and called away, that's fine too, it means a profit.


I dont really understand how this would work. In stocks, you are buying a share in a company at a specific price that fluctuates with the value of the company. In bonds, you are lending money for a specific time period with the hopes of getting your money back plus interest. Is actual money going to be lent? Are there going to be different bond products for each company every time they issue new debt? It just doesn't seem practical to me.


What you want is the average change in rate of the Australian Dollar against multiple other currencies, to even out the effect of moves in a single other currency. People often look at the trade-weighted exchange rate to get an idea of this, as it allows you to look at the currencies that are most relevant, rather than every tiny other currency having an equal weight.


> Short of packing up and moving, what is an effective way to network with people from these larger cities?  Alumni groups should be able to help. Join a CFA society as well, there may be some interconnectedness there.   > Is there demand for quants and junior quants, or is there too much supply?  I think there is still enough demand for the time being. This will change, of course, but I think it's still in demand.   > Will I need to get a PhD to be relevant?   I don't *think* so, but I have seen postings requiring a PhD. Browse job postings to determine this. Generally speaking however, it seems like overkill to me.  > Can I transfer my background or skills into another area of finance first to get the networking contacts?  Yes. CFA material shows interest and knowledge, as does the degree. Programming knowledge is in demand in many places now. Have you considered valuation work?


Yes for every order there is a buyer and seller. But overall there are multiple buyers and multiple sellers. So every trade is at a different price and this price is agreed by both buyer and seller. Related question will help you understand this better. How do exchanges match limit orders?


Oh poor me I have to drive a shiny and clean sedan instead of shiny and clean sports car on a trip I'm not even paying for /s.   Don't try and justify an entitlement complex. This guy is pissed that his ass has to be in a nice Kia instead of a nice Mustang on a trip he isn't even paying for, while the majority of the world's population still live agricultural lifestyles from the cradle to the grave.


The Nebraska DMV web site has a neat page about this. It seems to be fairly simple, and not costly to record a lien and later release it. Just go there with the title and the sales agreement that details the terms, and pay the $7 fee.


"What are the options available for safe, short-term parking of funds? Savings accounts are the go-to option for safely depositing funds in a way that they remain accessible in the short-term. There are many options available, and any recommendations on a specific account from a specific institution depend greatly on the current state of banks. As you're in the US, If you choose to save funds in a savings account, it's important that you verify that the account (or accounts) you use are FDIC insured. Also be aware that the insurance limit is $250,000, so for larger volumes of money you may need to either break up your savings into multiple accounts, or consult a Accredited Investment Fiduciary (AIF) rather than random strangers on the internet. I received an inheritance check... Money is a token we exchange for favors from other people. As their last act, someone decided to give you a portion of their unused favors. You should feel honored that they held you in such esteem. I have no debt at all and aside from a few deferred expenses You're wise to bring up debt. As a general answer not geared toward your specific circumstances: Paying down debt is a good choice, if you have any. Investment accounts have an unknown interest rate, whereas reducing debt is guaranteed to earn you the interest rate that you would have otherwise paid. Creating new debt is a bad choice. It's common for people who receive large windfalls to spend so much that they put themselves in financial trouble. Lottery winners tend to go bankrupt. The best way to double your money is to fold it in half and put it back in your pocket. I am not at all savvy about finances... The vast majority of people are not savvy about finances. It's a good sign that you acknowledge your inability and are willing to defer to others. ...and have had a few bad experiences when trying to hire someone to help me Find an AIF, preferably one from a largish investment firm. You don't want to be their most important client. You just want them to treat you with courtesy and give you simple, and sound investment advice. Don't be afraid to shop around a bit. I am interested in options for safe, short ""parking"" of these funds until I figure out what I want to do.  Apart from savings accounts, some money market accounts and mutual funds may be appropriate for parking funds before investing elsewhere. They come with their own tradeoffs and are quite likely higher risk than you're willing to take while you're just deciding what to do with the funds. My personal recommendation* for your specific circumstances at this specific time is to put your money in an Aspiration Summit Account purely because it has 1% APY (which is the highest interest rate I'm currently aware of) and is FDIC insured. I am not affiliated with Aspiration. I would then suggest talking to someone at Vanguard or Fidelity about your investment options. Be clear about your expectations and don't be afraid to simply walk away if you don't like the advice you receive. I am not affiliated with Vanguard or Fidelity. * I am not a lawyer, fiduciary, or even a person with a degree in finances. For all you know I'm a dog on the internet."


Victor, Yes the drop in price does completely cancel the dividend at first. However, as others have noted, there are other forces working on the price as well. If dividends were pointless then the following scenario would be true: Let's assume, hypothetically, two identical stocks, only one of which pays a 2% annual dividend quarterly. At the end of the year we would expect the share price of the dividend stock to be 2% lower than the non-dividend stock.  And an equal investment in both stocks would yield exactly the same amount of money. So that is a hypothetical, and here is real market example: I compared, i.e. took the ratio of Vanguard's S&P 500 ETF (VOO) closing price to the S&P 500 Index closing price from sep 9, (2010-2014), after accounting for the VOO 2013 split. The VOO pays a quarterly dividend(about 2%/year), the S&P is an index, hence no dividend. The VOO share price, reduced each quarter by the dividend, still grew more than the S&P each year except 2012 to 2013, but looking at the entire 4yr period the VOO share price grew 80.3987% while S&P grew 80.083% (1/3 of 1% more for VOO). VOO does drop about 1/2% relative to S&P on every ex date, but obviously it makes it up. There are other forces working on VOO. VOO is trade-able, therefore subject to supply/demand pressures, while the S&P 500 is not. So for the VOO ETF the data does not indicate pointless dividends but instead implies dividends are free money. StockCharts.com supports this.  S&P500 for last 1244 days (9/8/2010) shows 90% growth http://stockcharts.com/freecharts/perf.php?%24SPX while VOO for last 1244 days shows 105% growth http://stockcharts.com/freecharts/perf.php?VOO


I think what the person meant to say is that Gold is not a one stop solution. There's nothing wrong with having Gold in an otherwise diversified portfolio but you need to be aware about the potential downsides: The problem with gold is that its value nowadays depends mainly on investor confidence, or the lack of it (actual demand for gold cannot explain the rise in value gold had after the crisis). If people are afraid the world and currencies with it will go to hell, the gold price will go up. Why? Because if currencies seize to exist, Gold will still be accepted. It can replace currencies. What many people tend to forget: let's consider the extreme example and currencies really cease to exist and all hell breaks lose. What good are gold bars at the bank, or even at home, for that matter? You'll be better off with gold coins to use in barter and to pay off marauders. But that's not about investing anymore, that's survivalism.


What you are describing is called following (or going over) a budget. There is no debt or loans in the scenario you are describing. Simply put a budget is when you allocate a certain amount of your income for expenses in various categories, and a certain amount for savings.  So lets say you earn $100 a month. If you budget $50 in expenses every month, then that means you try not to spend more then $50 a month, and the rest you save. In any given month, you may go over your self-imposed budgeted amount for expenses. That simply means you are over the budgetted amount for that month, but that does not make you 'in debt'. It just means you didn't meet your goal for that month (or whatever time period you created). However, if you do this habitually then you clearly don't have a realistic budget, because the idea behind a budget is a plan that you can realistically meet on a consistent basis. Sometimes you may have to break it, but it should be made in such a way that if you work at it, it is consistently achievable. If not, then you need to rethink your budget. Instead of thinking in terms of taking loans from yourself, I would encourage you to think in terms of saving up for goals and only spending money from those 'goal funds.' In this way, you are not arbitrarily spending money that would instead go into savings, but rather explicitly setting money aside for those goals. This will also help you to see where exactly your money is going and also help you to prioritize your financial goals.


The weird about counting stocks as a form of wealth for their trading value is that he literally can't use that money without losing his company and his source of wealth.  That and Bill Gates transfer of wealth from his publicly owned company into his own privately held entity means there's no way to see how rich Bill G is anymore. He could be making massive amounts of money from that NPO and the only people who would know is the government.


>complete hyperbole.  one cannot be taken serious when this is the reply   I wish it was hyperbole. Look at every cabinet memeber in this administration, look at their histories. Theyre all there for one purpose and that is to dismantle their respective organizations. Their resumes say nothing else.  Whether or not you choose to take that seriously is up to you.


What you will probably get is an option to buy, for £10,000, £10,000 worth of stock. If the stock price on the day your option is granted is £2.50, then that's 4,000 shares. Companies rarely grant discounted options, as there are tax disincentives. The benefit of the stock option is that when you exercise it, you still only pay £10,000, no matter what the 4,000 shares are now worth. This is supposed to be an incentive for you to work harder to increase the value of the company. You should also check the vesting schedule. You will typically not be able to exercise all your options for some years, although some portion of it may vest each year.


"It's amazing how many times I've had to say that to people who are calling *others* idiots. It baffles me that they can't follow the simple logic. There's usually a ""Should a black baker have to make a cake for the KKK?!"" or something, prompting, ""Is 'KKK member' a protected class?"" It's really not a difficult concept."


There are many stategies with options that you have listed. The one I use frequently is buy in the money calls and sell at the money staddles. Do this ONLY on stocks you do not mind owning because that is the worse thing that can happen and if you like the company you stand less of a chance of being scared out of the trade. It works well with high quality resonable dividend paying stocks. Cat, GE, Mrk, PM etc. Good luck


Metals and Mining is an interesting special case for stocks.  It's relationship to U.S. equity (SPX) is particularly weak (~0.3 correlation) compared to most stocks so it doesn't behave like equity.  However, it is still stock and not a commodities index so it's relation to major metals (Gold for instance) is not that strong either (-0.6 correlation). Metals and Mining stocks have certainly underperformed the stock market in general over the past 25years 3% vs 9.8% (annualized) so this doesn't look particularly promising.  It did have a spectacularly good 8 year period ('99-'07) though 66% (annualized).  It's worth remembering that it is still stock.  If the market did not think it could make a reasonable profit on the stock the price would decrease until the market thought it could make the same profit as other equity (adjusted slightly for the risk).  So is it reasonable to expect that it would give the same return as other stock on average?  Yes.. -ish.  Though as has been shown in the past 25 years your actual result could vary wildly both positive and negative. (All numbers are from monthly over the last 25 years using VGPMX as a M&M proxy)


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The article makes it seem as though she called the cops because the children were making noise. In my city any sound of play coming from children under the age of 12 is not against the noise ordinance. I'm imagining it's similar in LA, hopefully, and the dumb bitch didn't know any better.


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I'm all for universal health care. It costs less and everyone gets covered. But You can't call it capitalism currently when the government makes laws that's kills competition. Ask any Pharmacist and they'll tell you how corrupt the FDA is. What we have now is far from capitalism.   Capitalism gets a bad wrap but nobody bitches when you have so many smart phones to choose from. What if hospitals had to list prices? How much for an X-ray? I have no idea how much that shit cost.    It's good for everyone to know prices but the system makes it less transparent and that's on purpose.  People blame capitalism but they mistake it for how the government runs things.


>Or....maybe rich people would not hoard all of the property  That would only happen if real-estate stopped being a reliable long term investment.  A tax would only burden the not-so ultra wealthy.. and real estate companies trading properties would raise the costs of doing transactions to cover the cost of property taxes


"It's called being smart.  I spent 2+ years building a business that now brings me ""passive income"".  IE: It runs itself online and I only need to put a couple of hours/week.  Have you ever tried a ""turnkey operation""?  Anything easy is so saturated that you will most likely never make money."


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"There are two things I would like to add. By no means am I an expert on this, so please call me out if you spot a mistake.  > Economic contraction scared people. So instead of continuing making promises, they started paying off the promises they had  Every true.... **expect** this didn't cause the ball to stop rolling so much as it stopped the ball from rolling a little sooner than it otherwise would have.  As pointed out in the comments above, money is debt and with debt (in the system we've chosen to adopt) comes interest. That means that new money **must** be created in order for old money to be repaid. Which leads to a need for perpetual growth. And perpetual growth is unsustainable. Pure and simple, it doesn't exist.  So yeah, people got a fright and that put the brakes on the economy, but it was going to happen eventually.  > People paying off debt is fine so long as there is sill money for services, and people paying for service is fine *so long as they don't rack up more debt than they can pay*.  As explained above, this is a fallacy because our monetary system literally requires that people aren't responsible when it comes to debt. Eventually we'll get to a stage the vast majority of people have taken on as much debt as they can logically support, at which point they would need to take on even more debt in order to service the debt that already exists. It's either that or the money supply contracts and you have a recession.  It always disgusts me when I hear people saying things like ""they should known better"" or ""this is what you get for not handling your finances correctly"" when describing people that get into debt issues. The system literally depends on people acting like idiots and taking on more debt than they can support.  It's also a reason why you can't really blame Wall Street for what happened - even though they did some messed up things, they were just playing by the rules of the game."


You conveniently ignored  > (between the bottom 10% and top 10%, discounting dictatorships where only a tiny amount of people control the wealth)  Coincidentally, I am from Denmark, but have moved to America. My standard of living in America when I was making minimum wage was better than that of my family still in Denmark who had much better jobs. The income inequality in America results in a much higher standard of living than the income equality in Denmark.


I mean its probably not set like that in a cynical sense, though yeah any time its coming from a private company it'll be as expensive as they think people can pay without losing their shit.   ps. things that are supposed to be human rights should just be on up to a certain amount. Obviously you don't want needless waste of resources so it'd be good to have some kind of overage fines.


"Yet another ""If X, then EUROFAIL!!"" It's really fucking tedious even without the screamingly, mind-numbingly wrong ""logic"" of this one.   If you're lending money to Germany at 0% and still expect to make a profit, it's because the Euro *will be HIGHER* than your currency at the end of the loan period.  This one doesn't look like stupidity so much as a really ham-fisted manipulation attempt to engineer a short-term euro drop for a nicer buy-in."


"You have a Solo 401(k). You can fund it with cash, or I believe, with shares of your own company. You can't pull in other assets such as the ISOs from another employer. I see why that's desirable, but it's not allowed.  You wrote ""this will mitigate all tax complications with employee stock options.""  But - you can't transfer the ISOs from your job into your Solo 401(k). As littleadv notes, it's self dealing. Once the ISO is exercised there's no hiding the gain into that 401(k)."


"So, I've read the article in question, ""Basically, It's Over"".  Here's my opinion: I respect Charlie Munger but I think his parable misses the mark.  If he's trying to convince the average person (or at least the average Slate-reading person) that America is overspending and headed for trouble, the parable could have been told better.  I wasn't sure how to follow some of the analogies he was making, and didn't experience the clear ""aha"" I was hoping for. Nevertheless, I agree with his point of view, which I see as:  In the long run, the United States is going to have serious difficulty in supporting its debt habit, energy consumption habit, and its currency. In terms of an investment strategy to protect oneself, here are some thoughts.  These don't constitute a complete strategy, but are some points to consider as part of an overall strategy: If the U.S. is going to continue amassing debt fast, it would stand to reason it will become a worse credit risk, requiring it to pay higher interest rates on its debt.  Long-term treasury bonds would decline as rates increase, and so wouldn't be a great place to be invested today. In order to pay the mounting debt and debt servicing costs, the U.S. will continue to run the printing presses, to inflate itself out of debt.  This increase in the money supply will put downward pressure on the U.S. dollar relative to the currencies of better-run economies.  U.S. cash and short-term treasuries might not be a great place to be invested today.  Hedge with inflation-indexed bonds (e.g. TIPS) or the bonds of stronger major economies – but diversify; don't just pick one. If you agree that energy prices are headed higher, especially relative to U.S. dollars, then a good sector to invest a portion of one's portfolio would be world energy producing companies.  (Send some of your money over to Canada, we have lots of oil and we're right next door :-) Anybody who has already been practicing broad, global diversification is already reasonably protected.  Clearly, ""diversification"" across just U.S. stocks and bonds is not enough. Finally: I don't underestimate the ability of the U.S. to get out of this rut.  U.S. history has impressed upon me (as a Canadian) two things in particular: it is highly capable of both innovating and of overcoming challenges.  I'm keeping a small part of my portfolio invested in strong U.S. companies that are proven innovators – not of the ""financial""-innovation variety – and with global reach."


Conservative = erring on the side of ascribing a higher EV to the business. Because if you're someone looking to acquire the business, for example, and let's say we're talking about a business that has debt which trades at a discount, it's more conservative to assume that the debt can't necessarily be restructured.  To use an extreme example, as you're valuing the business, would it be conservative or aggressive to assume that the debt got magically wiped out altogether? So that's why I'm saying that it's more conservative to use the book value of the debt.


"I have never got my head around how they managed to sell a personal photo blog website for billions of dollars, how they came up with that fart in a bag valuation is a testament to how finance people understand technology.  Its going to be hilarious watching the face of the person left hold the stock in the end, because the break up value of this company is going to be a couple of servers, storage and a fucking web page and terabytes of photos of lonely desperate people.  And what really creeps me out is how can educated people in this day and age put all of their personal pics and info out there on the internet and knowing the ilk this Suckerberg belongs to, becoming part of that data base with names addresses and picture, and the ever nauseating updates . . .""Hey . .my darling wife is taking a shit and I just want to let her know I lover her""  ""Oh sweety . .I just let out a real soggy wet fart . . .my darling . .can't wait to be out of the bathroom and with you again soon""  Its just so desperate"


"I have traded options, but not professionally. I hadn't come across this terminology, but I expect it counts how far in-the-money, as an ordinal, an option is relative to the distinct strike prices offered for the option series — a series being the combination of underlying symbol, expiration date, and option type (call/put); e.g., all January 2015 XYZ calls, no matter the strike. For instance, if stock XYZ trades today at $11 and the available January 2015 XYZ calls have strike prices of $6, $8, $10, $12, $14, and $16, then I would expect the $10 call could be called one strike in the money, the $8 two strikes in the money, etc. Similarly, the $12 and $14 calls would be one and two strikes out of the money, respectively. However, if tomorrow XYZ moves to $13, then the $10 previously known as one strike in the money would now be two strikes in the money, and the $12 would be the new one strike in the money. Perhaps this terminology arose because many option strategies frequently involve using options that are at- or near-the-money, so the ""one strike in"" (or out) of the money contracts would tend to be those employed frequently? Perhaps it makes it easier for people to describe strategies in a more general sense, without citing specific examples. However, the software developer in me dislikes it, given that the measurement is relative to both the current underlying price (which changes quickly), and the strike prices available in the given option series. Hence, I wouldn't use this terminology myself and I suggest you eschew it, too, in favor of something concrete; e.g. specify your contract strikes in dollar terms — especially when it matters."


>As a boston resident, these stores will be jam packed this weekend. The store i go to has 20 lanes 5-6 customers deep from opening on friday to close, and it looks like that almost every weekend day.   Which is one of the top criticisms of Market Basket.  If they are smart, they will overstaff this weekend as they have a chance for new customers.  If there are 15-minute waits to checkout, they won't win over new customers at all.  MB shoppers are slightly lower SES than the overall population, but that is primarily due to the lower prices.    We'll see what their weekly sales look like for the upcoming months, and I won't be shocked to see a slight change from where it was previously, be that higher or lower.


Leverage comes in many forms.  You'll learn about things like operational leverage, financial leverage, and total leverage throughout school.  In the real world, tier 1 capital ratio has become the most commonly scrutinized because it is essentially a ratio of the core equity capital of a firm divided by the risk weighted assets (assets multiplied by a credit weighting which for most banks now a days is using the standard of Basel 2.5 and moving towards Basel III).  The multiples you talked about were references to the reciprocal of this formula.  You could reciprocate the T1C ratio and get a whole number that is the multiplier.  This multiplier would show for every 1$ in core capital, how much the firm held in risk weighted assets.  The 30x number would have represented a tier 1 cap of 3.33%.  The concept behind it being, a 10% growth in risk weighted assets with a 3.33% T1CR would result in a 300% growth in core equity capital value.  As proven in 2008, it is a double edge blade and works the same way in both directions.


As pointed out by other posters, you need to check exact language of your settlement contract. In US, the answer depends on the state where this property is located. For example, in Michigan, one pays their real estate taxes for the current year, but in Illinois, one pays their taxes for the PRIOR year. This means that if you sold your property on January 2nd, 2014 in Michigan, as a seller, you are responsible for the portion of the tax bill for January 1st, 2014 only, and you will compensate the buyer for this amount via settlement provisions. In Illinois, as seller, you are responsible to make the payment in 2014 for tax year 2013. You will either make the full payment yourself or compensate your buyer via settlement funds. You will also compensate them for January 1st, 2014 portion as well.


"Long here does not mean you wish for the underlying stock to increase in value, in fact, as the chart shows, just the opposite is true.  ""Long means you bought the derivative, and you own the option. The guy that sold it to you is at your mercy, he is short the put, and it's your decision to put the stock to him should it fall in value.  The value of the put itself rises with the falling stock price, you are long the put and want the put, itself, to rise in value."


For the first part of your question, I think the answer is a combination of three things:  (1) Bigger companies have leverage to negotiate better deals due to volume.  (2) Some of these companies are also taking bookings from outside the US for people traveling to the US (either directly or through affiliates).  This means that they also have income in other currencies, so they may not actually be making as many wire transfers as you think.  They simply keep a bank account in Europe, for example, in Euros to receive and send money in the Eurozone as needed.  They balance the exchange on their books internally in this case, without actually sending funds through the international banking system.  Similarly in other parts of the world. (3) These companies are not going to make a wire transfer for every transaction, in any case.  They are going to transfer big sums of money to an account abroad to balance things on a longer-term basis (weekly, month, etc.)  Then they will make individual payments to service providers out of the overseas account in between these larger, international transfers. For the second part of your question, I think there's probably no way for a new business to get the advantages of scale unless you've got significant capital backing your endeavor that would make it plausible that you'll be transferring in scale.  I don't see any reason in principle that the new company could not establish bank accounts abroad and try to execute the plan outlined in #2 above except that it would require some set-up costs to do the proper paperwork in each country, probably to travel, and to initially fund the various accounts.


"In 2013, an allowance/exemption is like saying, ""Please don't tax $3,900 this year."" So 8 allowances is $31K not taxed. It doesn't wipe out your tax withholding.  Circular E will show you the exact amount they'll withhold based on the allowances you claim.  Keep in mind, the withholding is run-rated. i.e. it assumes a full year of work. If you had no income for the first 6 months of the year, you will actually still have too much withheld even though the number is right for the full year, starting 2014."


>One effect of this system is job lock. People become dependent on their employment for their health insurance, and they are loath to leave their jobs, even when doing so might make their lives better.  Try telling any of this to progressives and they'll be ready to Tar and feather you... This is one of the reasons that I am hesitant to support unions...


"I would say his delivery could use a little better tempo and charisma, but the content and references he included were just right for his audience. I just watched that video because I wasn't sure if ""applause break"" meant he had to stop for applause or there was a break in the applause. I see that you meant he had to stop because they were applauding what he said. The applause was more for the republican and american part than the gay part, but you're right. There was applause directly associated with his statement of being proud to be gay.   I have to think that his alignment with Trump is based on small government (deregulation and lower taxes) and frustration with the status quo. They are very strange bedfellows. Aside from deregulation and lower taxes, I wouldn't think that Thiel has much in common with the RNC. An example from the video is where he asks ""Who cares?"" about the issue of transgender bathrooms. The crowd cheered at that. I don't know who gets worked up more about the issue, the left or the right, but I know they both certainly do.   Hearing Thiel's thoughts today would be very interesting. I believe he has acknowledged that Trump could end in some sort of disaster. I respect Thiel's abilities, the amount of thought he has put into various topics, and his effectiveness very much. He's one of the few Trump supporters that I can't immediately write off as uninformed or biased in an egregious way. On the other hand, its hard to see how a man as intelligent as he is could respect a ridiculous carnival barker like Trump."


If the homeowner knows the situation is hopeless, and the end result will be the loss of the home, jumping to the end result can be helpful. It is quicker, they don't spend as much time fighting a losing battle. Deed in Lieu of foreclosure is not so great for the borrower if the bank goes after them for the rest of the money owed. There can also be tax implications if the debt is forgiven. Though these issues also exist when the drawn out foreclosure option is done. For the bank. The longer the process the more the house deteriorates. The borrower may stop maintenance and may even vandalize the house. Getting their lock on the door quickly is important to them. They protect it, clean it, and prep it for sale right away. They also save on lawyer fees. They know that the moment they start the foreclosure process all money from the borrower stops, this can save thousands in carrying costs.  One issue will be how the accounting losses will be divided among the servicing company, and the investors. If the servicing company will make more money from the longer process they may not push for the quick settlement. If the opposite is true, they will be quickly on board.  For the new buyer, the issue with either foreclosure is that the longer process can result in greater hidden and visible damage. The heat pump may work, but the disgruntled homeowner stopped changing the filters the last six months. They may have also removed and damaged things on the way out. Other than that I don't see a big difference. Because the bank had lower costs involved in the foreclosure they might settle for a lower purchase price, but that might be hard to know.


"Based on the information you gave, there are dozens if not hundreds of possible theories one could spin about the rental market. Sure, it's possible that there are no listings because rental units on this street are quickly snapped up. On the other hand, it's also possible that there are no listings because almost all the buildings on the street have been abandoned and, aside from this one property that someone is tying to sell you, the rest of the street is inhabited only by wild dogs and/or drug dealers. Or maybe the street is mostly owner-occupied, i.e. the properties are not being rented to anyone. Or maybe it's a commercial district. Or maybe craigslist isn't popular with people who own property on this street for whatever reason. Maybe Syracuse has a city ordinance that says property must be advertised in the newspaper and not on websites, for all I know. Or maybe you missed it because nobody in Syracuse calls it ""housing for rent"", they all call it ""apartments for rent"" or ""houses for rent"" or some local phrase. Or ... or ... or. Before I bought a property, I'd do more research than one search on one web site. Have you visited the property? I don't know how much you're preparing to invest, I have no idea what property prices are in Syracuse, but I'd guess it's at least tens of thousands of dollars. Surely worth making the drive to Syracuse to check it out before buying."


"With the standard ""I am not a lawyer"" disclaimer, consider this question: If you and your girlfriend split up sometime after purchasing the house but before getting married, would you expect her to repay you for the closing costs and downpayment?  That is, if you write her a check for $5k, and 6 months after she signs the papers for the house one of you decides to break up with the other, would you expect her to write you a check for $5k in return?   That is the difference between ""a gift"" and ""a loan disguised as a gift"".  If the answer is no, you don't expect it back, then everything is fine and you're in the clear - it's perfectly legal to give someone money.  If the answer is yes, you would want to be ""paid back"", then it's not a gift and you run the risk of running afoul of the regulations.   With respect to a previous answer about ""gifting money that is not taxed"", in the US one person can give another up to $14,000 without worrying about gift taxes, and even in the event that you exceed that amount, the excess would simply eat into the lifetime exemption of $5,250,000.  (Individual states may have different rules and exempt amounts that would apply to state taxes.)   Please also consider the income issue for your ""rental agreement"".  Your GF would be expected to declare that amount and pay income tax on it as a business.  She might also declare part of that amount as expected income for purposes of securing the loan, but that may run into its own issues (you're not a roommate, and presumably the home is not a duplex or set up as apartments, and presumably she would not offer a similar deal to someone other than you)."


Vista Sand When Marty Robertson and Gary Humphreys, Managing Partners, bought Vista Sand in 2011 they knew there were a couple of things they needed to take care of in order to grow their business, replace the worn out mixed fleet they inherited in the purchase and have someone manage it for them. The solution was hiring Ron Lee, Director of Mining and Fleet Assets, in 2013 and creating a partnership with an equipment dealer who could maintain the equipment at minimal downtime.


Pretty much. I'm working overseas developing an electronic system to streamline a paper approval workflow process. The amount of manpower it takes to manually maintain all this information is amazing. A simple access database application that tracks signatures and approvals could probably knock five people out of a full-time job.   I've already had several easily implementable features knocked off scope by people afraid of losing their own importance.


"This is the best tl;dr I could make, [original](https://pensionpartners.com/when-does-a-bubble-become-a-bubble/) reduced by 94%. (I'm a bot) ***** > When did it become a bubble? When does any bubble become a bubble? This is not an easy question to answer, particularly for an asset with no intrinsic value.  > As we have seen, Bitcoin looked like a bubble in 2011 at $1. It looked like a bubble in 2013 at $200. And looks like a bubble today at $6,000.  > If Bitcoin is trading at the same value a few years from now, but crashes many in between, was it a bubble? How much does it need to go down and how long does it need to stay down to meet the definition?   ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/788avh/when_does_a_bubble_become_a_bubble/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ ""Version 1.65, ~233567 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*: **Bubble**^#1 **Bitcoin**^#2 **value**^#3 **price**^#4 **look**^#5"


Sort of free market system when there are resource limits. The city doesn't sell the medallions for $2M, but they do artificially limit the number available. All the mediallion owners bought and sold the medallions on the grey market, and that drove up the price. They all speculated on something very risky. Just like Pogs or Beanie Babies, if the city suddenly decided to double the number of medallions, these owners would have likewise been screwed.


HSBC will open you an account in the UK while you are still in the US. You can transfer your money before you leave the US. Your credit report and cards can also be transferred with HSBC, I think they have a mastercard. You can keep all your accounts in the US, and use online banking.


In addition to George Marian's excellent advice, I'll add that if you're hitting the limits on IRA contributions, then you'd go back to your 401(k). So, put enough into your 401(k) to get the match, then max out IRA contributions to give you access to more and better investment options, then go back to your 401(k) until you top that out as well, assuming you have that much available to invest for retirement.


Outside of a tax sheltered IRA or 401(k) type of account your transactions may trigger tax liability.  However, transactions are not taxed immediately at the time of the transaction; and up to a certain limits capital gains can be offset by capital losses which can mitigate your liability at tax time.  Also, remember that dividend receipts are taxable income as well. As others have said, this has nothing to do with whether or not money has been moved out of the account.


Financial literacy for individuals is the instruction and comprehension of different money related issues. This subject concentrates on the capacity to manage personal finance matters in a productive way, and it incorporates the information of settling on suitable choices about individual finance, for example, insurance premiums, educational fees, real estate investments, tax planning, retirement saving, budget management and so on.   Let's have a look at the importance of Financial Literacy in an Individual's life so that it can become a source of inspiration for you.   Inspiration and financial literacy for individuals enable people to end up plainly independent with the goal that they can accomplish budgetary solidness. The individuals who comprehend the subject ought to have the capacity to answer a few inquiries concerning buys, for example, regardless of whether a thing is required, whether it is reasonable, and whether it a benefit or a risk.   Financial literacy for individuals shows the practices and states of mind a man has about cash that is connected to his everyday life. Financial literacy demonstrates how an individual settles on monetary choices. This attitude can enable a man to build up a money related guide to distinguish what he procures, what he spends and what he owes.   The absence of financial education can prompt owing a lot of obligation and settle on poor monetary choices. For instance, the preferences or drawbacks of settled and variable loan costs are ideas that are less demanding to comprehend and settle on educated choices about in the event that you have monetary proficiency abilities.   Monetary proficiency training ought to likewise incorporate hierarchical abilities, consumer rights, innovation and worldwide financial matters in light of the fact that the condition of the worldwide economy incredibly influences the U.S. Economy.  As per the saying of one of the renowned actor cum producer, Lucille Bell, 'Keeping busy and making optimism a way of life can restore your faith in yourself'. Yes, the current market trend has proved this inspirational quote to a true extent. Investing money into trading and financial market is a hard nut to crack and it requires a thought-provoking financial inspiration for individuals. To earn handsome money, you need to become smart enough to understand the market behavior, market flows and all the associated ups and downs. Now, you are confused. No, you don't need to hold an MBA degree or become a financial expert to learn lucrative investing skills. Wealth Generators is there for you to make you learn all the essentials techniques required to make your hard earned money provide you with the best output which you can never imagine. Yes, optimism and the smart skills are the two pivotal ways to get success over the curvature of the financial twisting.   We are considered to be one stop financial inspirations for individuals who wish to earn money by making smart investments. It all has become possible due to years of research and development of our financial veterans and their innovative attitude in developing financial tools. The amalgamation of the computer, communication technologies and our educational financial tools have lowered the risk of investments. With a commitment and optimistic approach, you can earn good money in no time, if you have proper market knowledge. Our experts have done extensive research and they are always updated with the latest insights of the trading and investment markets. We believe that your solid financial inspiration to save your expenses and turning them into handsome profits can make you a wealthy person. So, if you are really willing it, Wealth Generators is there for you, the ultimate source of your financial inspiration.


"To your first comment: yup. To your second comment, A = L + E. If E goes down, and L goes up, the net effect is 0. Then, if L goes down, and A goes up, the net effect is 0 and we are balanced once again. There is no ""rebalancing"" equity. You just have to make sure that, at the end of your journal entries, the accounting equation holds.  It's a very unintuitive concept to wrap your head around, but spend some time mapping out the flow of various journal entries. Once it clicks, you'll really understand the logic."


When I go to Niagara Falls, for example, the towers on both sides pick up my phone. I'll be standing fully within Canada and get a 'welcome to the US' text, and vice versa. This is known to happen and usually isn't a big deal. The article talks about roaming in a neighboring country, so it doesn't really clarify if it's simply near border connection as I've described, or if the phone is supposed to have connected further in the country.


I'm concerned enough that the *hash* alone is out there to change it. It's one level of security on which you should be able to rely: unique pw, pw is hashed, hashing is (hopefully) salted, login is via SSL, etc etc. The fact that the hash alone is out there - even if I think it's fairly unguessable - is enough for me to decide to change it.


"I am not 100% sure, but I think the answer is this:  You can't max out both.  You could theoretically max out the SIMPLE IRA ($11,500) and then contribute $4,000 to your 401k, but your total can't exceed the 401k limit of $16,500.  This also means you could max out your 401k at $16,500, but you couldn't contribute anything to the SIMPLE IRA.  Note that no matter what, you can't contribute more than $11,500 to your SIMPLE IRA. (Note that this is all independent from your Traditional or Roth IRA, which are subject to their own limits, and not affected by your participation in employer-sponsored plans.) As I understand it, a 401k and a SIMPLE IRA both fall under the umbrella of ""employer-sponsored plans"".  Just like you can't max out two 401k's at two different employers, you can't do it with the 401k and the SIMPLE IRA.  The only weird thing is the contribution limit differences between SIMPLE IRA and 401k, but I don't think the IRS could/would penalize you for working two jobs (enforcing the lower SIMPLE IRA limit for all employer-sponsored retirement accounts). You should probably run the numbers, factoring in the employer match, and figure out which account-contribution scenario makes the most financial sense for you.  However, I'm not sure how the employer match helps you when you're talking about a small business that you own/run.  You may also want to look at how the employer match of the SIMPLE IRA affects the taxes your business pays. Disclaimer #1:  I couldn't find a definitive answer on your specific scenario at irs.gov.  I pieced the above info from a few different ""SIMPLE IRA info"" sites.  That's why I'm not 100% sure.  It seems intuitively correct to me, though.  Does your small business have an accountant?  Maybe you should talk to him/her. Disclaimer #2:  The $ amounts listed above are based on the IRS 2010 limits."


I have an eight year old Kia Spectra that my wife is after me to replace -- but it hadn't been giving me any trouble at all.  Soon after she started telling me I should replace it soon it started having problems; compressor, tires, and so on.  How did she know? Anyway, so now I'm looking -- not ready to buy yet, but I'm looking.  The reason I won't be leasing is mileage.  I live 45 miles from where I work, so with incidental driving, I put at least 100 miles a day on a car.  That's about 26,000 miles a year if I do nothing but drive back and forth to work. On a monthly basis the lease is advertised as being less than most payments, but that is with a mileage limitation.  Since most leases I've looked at top out the mileage well below that mark I won't be leasing. I am looking at the new cars that are available now -- but I don't plan on buying until next year, and buying a lightly used car that is only a year to two old.  So I'm looking at what I will be buying while I can still find information about them. So yeah, mileage is a strong reason why I'm not considering leasing.


I don't feel a thing, my livelihood is hurting from the type of greed displayed by the asshole I was replying too. You don't have to give a fuck, this country doesn't have to get better, inequality can drive us to third world standards, it's fine. I'm sure you're going to be voting to re-elect Trump. Don't bother replying to me.


I've never seen anything in any IRS publication that placed limits on the balance of a 401K, only on what you can contribute (and defer from taxes) each year.  The way the IRS 'gets theirs' as it were is on the taxes you have to pay (for a traditional IRA anyway) which would not be insubstantial when you start to figure out the required minimum distribution if the balance was 14Mill.. You're required to take out enough to in theory run the thing out of money by your life expectancy.. The IRS has tables for this stuff to give you the exact numbers, but for the sake of a simple example, their number for someone age 70 (single or with a spouse who is not more than 10 years younger) is 27.4..  If we round that to 28 to make the math nice, then you would be forced to withdraw and pay taxes on around $500,000 per year.  (So there would be a hefty amount of taxes to be paid out for sure). So a lot of that $500K a year going to pay taxes on your distributions, but then, considering you only contributed  660,000 pre-tax dollars in the first place, what a wonderful problem to have to deal with.  Oh don't throw me in THAT briar patch mr fox!


"Since you're also looking for alternative means of funding, have you considered doing part-time work -- during the holidays or on some of the weekends? With this kind of financing you have to watch out that the work does not interfere with your study. On the other hand it can be valuable work experience that can come in handy later in your life, such as when applying for your first ""real"" job. The kind of work you can do will depend a lot on the subject you are studying and what qualifications you have. For example, if you are studying computer science, there are a lot of freelance opportunities in programming. One of these could lead right to your first job after university. The two broad types of work you can do are: For freelance: Try searching for ""[subject] student freelance"" and look at sites like oDesk. Read up on tax concerns, research how to price your time, and start doing! For employment: Browse the job boards at your university. Contact businesses to ask for part-time opportunities. Hope this helps to open one of the alternative paths here. If you go down this road, remember to keep your priorities in mind. Especially the freelance work can easily interfere with your study and delay you unnecessarily. Good luck!"


Working in my current sales role, I find myself listening to hours of business podcasts a week while travelling. Some of my favourite podcasts at the moment are:  PNR With This Old Marketing Futureproofing with Kelsey Ramsden The Brutal Truth About Sales & Selling


The QuikTrip business model is an interesting one, I'm looking forward to seeing its long term stability. Every business has to offer value to its customers and it needs to bring unique value in order to take off at QuikTrip's rate. IMO QuikTrip's value is their large footprint combined with clean, organized stores carrying a wide variety of products.   This value is only unique in comparison to the general shittiness of their primarily regional competition. Most convenience store chains are regional on a city by city basis and they generally do a poor job of ensuring consistency in the areas I listed for QuikTrip. That's the general trend including good chains, there are plenty of bad ones where you would have to be insane to try one of the hotdogs or tex-mex tube things that have sat on the rollers for 3 months.  The problem is that maintaining a convenience store isn't hard, it requires competent management and employees who give a half-ass effort. QuikTrip can afford to pay for excellent management and employees who give a whole-ass effort because their geographic footprint affords another unique advantage. How long will that remain unique? I know of several equally decent, growing chains that offer better prices and if the market is large enough we're likely to see oil companies giving a shit about the convenience store side again like they did in the 90's after the rise of 7-11.   I'm more than likely wrong somewhere in my analysis of QuikTrip's list of advantages. However, if I'm on the right track I'd be hesitant to call them a long term winner when they operate a high cost operation in a heavily price sensitive market.


Generally it goes by when they receive the check, not when they cash the check. Though if the check was received prior to midnight on December 31st, but after the bank closes, they would probably let the tax payer decide to count it for the next year. Of course if the check is from person A to person B then the only issue is gift tax, or annual limit calculations.  If it is company to person then income tax could be involved.  The IRS calls this Constructive receipt Income   Under the cash method, include in your gross income all items of   income you actually or constructively receive during your tax year. If   you receive property or services, you must include their fair market   value in income. Example.   On December 30, 2011, Mrs. Sycamore sent you a check for interior   decorating services you provided to her. You received the check on   January 2, 2012. You must include the amount of the check in income   for 2012.  Constructive receipt.   You have constructive receipt of   income when an amount is credited to your account or made available to   you without restriction. You do not need to have possession of it. If   you authorize someone to be your agent and receive income for you, you   are treated as having received it when your agent received it. Example.    Interest is credited to your bank account in December 2012. You do not   withdraw it or enter it into your passbook until 2013. You must   include it in your gross income for 2012.  Delaying receipt of income.    You cannot hold checks or postpone taking possession of similar   property from one tax year to another to avoid paying tax on the   income. You must report the income in the year the property is   received or made available to you without restriction. Example.   Frances Jones, a service contractor, was entitled to receive a $10,000   payment on a contract in December 2012. She was told in December that   her payment was available. At her request, she was not paid until   January 2013. She must include this payment in her 2012 income because   it was constructively received in 2012.  Checks.   Receipt of a valid   check by the end of the tax year is constructive receipt of income in   that year, even if you cannot cash or deposit the check until the   following year. Example. Dr. Redd received a check for $500 on December 31, 2012, from a   patient. She could not deposit the check in her business account until   January 2, 2013. She must include this fee in her income for 2012. In general it is best not to cut it close. If the check is to be counted as an January event it is best to send it in January. If it is to be December event it is best to send it early enough to be able to say with confidence that the check arrived at the destination before the end of the year.


"The answers here are all correct.  This is 100% scam, beyond any reasonable doubt.  Don't fall for it.  However, I felt it valuable to explain what would happen were you to fall for this.  It's not all that hard to understand, but it involves understanding some of the time delays that exist in modern banking today. The most important thing to understand is that depositing a check does not actually put dollars in your account, even though it appears to.  A check is not legal tender for debts public and private.  It's a piece of paper known as a ""bill of exchange.""  It's an authorization for a payee (you), to request that their bank pay you the amount on the check.  A transaction made with a check does not actually draw to a close until your bank and their bank communicate and cause the actual transfer of funds to take place.  This process is called ""clearing"" the check. Despite living in the modern times, this process is slow.  It can take 7-10 days to clear a check (especially if it is an international bank).  This is not good for the banking business.  You can imagine how difficult it would be to tell a poor client, who is living paycheck to paycheck, that he can't have his pay until the check clears a week later.  Banks have an interest in hiding this annoying feature of the modern banking system, so they do.  When you deposit a check, the bank will typically advance you the money (an interest free loan, in effect) while the check ""floats"" (i.e. until it clears).  This creates the illusion that the money is actually in your account for most intents and purposes.  (presumably a bank would distinguish between the floating check and a cleared check if you tried to close out your account, but otherwise it looks and feels like the money is in your hands). Of course, if the check is dishonored (because the payer had insufficient funds, or the account simply did not exist), your bank will not get the money.  At this moment, they will cancel any advances you received and notify you that the check bounced.  Again, this happens 7-10 days later. The general pattern of this scam is that they will pay you by a method which clears slowly, like a check.  They will then ask you to withdraw the money using a faster clearing method (like a wire transfer or withdrawing the cash).  Typically they will be encouraging you to move quickly (they are on a timetable... when their check bounces, the game is up!)  At this time, it will appear as though the account has a positive balance, but in fact it has a negative balance plus an advance on the check.  This looks great until 7-10 days later, when the check bounces.  At that time, the bank will cancel the advance, and reality will set in.  You will now have an open bank account, legally opened by you in your own name, which is deeply in debt.  Meanwhile, the scammer walks away with all the money that you sent them (which cleared quickly). There are many variants which can hide the details.  Some can play games with check kiting to try to make your first check clear (then try to rope you in for a more painful hit).  Some will change the instruments they use (checks are the easy ones, so they're simply most common).  Don't try to think ""maybe this one is legit.""  These scammers literally make a living off of making shady transactions look legit. Things I would recommend looking out for:"


"The simple answer is, there are many ways for trades to take place.  Some systems use order-matching software that employs proprietary algorithms for deciding the order of processing, others use FIFO structures, and so on.  Some brokerages may fill customer orders out of their own accounts (which happens more frequently than you might imagine), and others put their orders into the system for the market makers to handle.  There's no easy all-encompassing answer to your question, but it's still a good one to ask. By the way, asking if the market is ""fair"" is a bit naive, because fairness depends on what side of the trade you came out on! (grin)  If your limit order didn't get filled and you missed out on an opportunity, that's always going to seem unfair, right?"


Hardly. Minimum wage is designed so people are not slaves. Rent for a 3 bedroom around my area went from $900 to $1250 in the past 3 years... minimum wage went up a few cents. Your unskilled labor isn't worth less than being able to afford a home. Medical billing pays $19 an hour... hardly skilled practice there. pretty sure a cashier being able to ring you out in a timely fashion and help bring Walmart 400b in revenue a year is worth more than living in a tent or 15 people in your home.


I think you're mixing up being incorporated with being public. A corporation is just a financially separate organization from the owner(s). There might be only one owner, but the company's assets are separated from the person's.   A public company is one entity whose ownership is on the market - a shareholder can sell his or her portion easily. A company that decides it no longer wants to be public just becomes a private corporation, with ownership of its own assets, but with a few owners, not many.


Good news! It will be enough if you make the most important decision after retirement; that is, the decision to live within your means. With $220,000 per year in 2015 resources, will you live in the same size home in the same location as you do now? Or will you downsize a bit and move to a town with more reasonably priced homes and lower taxes? Apply the same thinking to all of your expenses. In my opinion, making the decision to live within your means is the biggest decision you can make going into retirement.


>This is what happens when departments are stupid and don't hire the people they need.  No, this is what happens when unions rule. Bet you didn't know that after 9/11, the NYPD and NYFD put their most senior people on the overtime shifts so they could retire at their last year's pay grade. That story is buried now.


"Very often, the word secondary market is used synonymously with the stock market as we all know it.  In this case, the primary market would be the ""closed"" world of VCs, business angels, etc to which stock market investors do not have access, e.g. the securities are not trading on a public stock market."


What you're saying is that your dogma provides you no useful response to my argument, so you'd rather ignore my comments instead of having to confront the futility of your beliefs.   Good luck with that. If you keep your head buried in the sand, you won't see the ocean creeping up to drown you.


The problem comes when the borrower cannot afford his home.  If a borrower buys more home than they can afford, as long as he can sell the house for more than he owes, he's not in a disastrous situation. He can sell the house, pay off the mortgage, and choose more affordable housing instead.  If he is upside-down on his home, he doesn't have that option. He's stuck in his home. If he sells it, he will have to come up with extra money to pay off the mortgage (which he doesn't have, because he is in a home he can't afford). It used to be commonplace for banks to issue mortgages for 100% of the value of the home. As long as the home keeps appreciating, everybody is happy. But if the house drops in value and the homeowner finds himself unable to make house payments, both the homeowner and the bank are at risk. Recent regulations in the U.S. have made no-down-payment mortgages less common.


"Ignoring the complexities of a standardised and regulated market, a futures contract is simply a contract that requires party A to buy a given amount of a commodity from party B at a specified price. The future can be over something tangible like pork bellies or oil, in which case there is a physical transfer of ""stuff"" or it can be over something intangible like shares. The purpose of the contract is to allow the seller to ""lock-in"" a price so that they are not subject to price fluctuations between the date the contract is entered and the date it is complete; this risk is transferred to the seller who will therefore generally pay a discounted rate from the spot price on the original day. In many cases, the buyer actually wants the ""stuff""; futures contracts between farmers and manufacturers being one example. The farmer who is growing, say, wool will enter a contract to supply 3000kg at $10 per kg (of a given quality etc. there are generally price adjustments detailed for varying quality) with a textile manufacturer to be delivered in 6 months. The spot price today may be $11 - the farmer gives up $1 now to shift the risk of price fluctuations to the manufacturer. When the strike date rolls around the farmer delivers the 3000kg and takes the money - if he has failed to grow at least 3000kg then he must buy it from someone or trigger whatever the penalty clauses in the contract are. For futures over shares and other securities the principle is exactly the same. Say the contract is for 1000 shares of XYZ stock. Party A agrees to sell these for $10 each on a given day to party B. When that day rolls around party A transfers the shares and gets the money. Party A may have owned the shares all along, may have bought them before the settlement day or, if push comes to shove, must buy them on the day of settlement. Notwithstanding when they bought them, if they paid less than $10 they make a profit if they pay more they make a loss.  Generally speaking, you can't settle a futures contract with another futures contract - you have to deliver up what you promised - be it wool or shares."


The everyday investor buys at the ask and sells at the bid but the market maker does the opposite This is misleading; it has nothing to do with being either an investor or a market maker. It is dependent on the type of order that is submitted. When a market trades at the ask, this means that a buy market order has interacted with a sell limit order at the limit price. When a market trades at the bid, this means that a sell market order has interacted with a buy limit order at the limit price. An ordinary investor can do exactly the same as a market maker and submit limit orders. Furthermore, they can sit on both sides of the bid and ask exactly as a market maker does. In the days before high frequency trading this was quite common (an example being Daytek, whose traders were notorious for stepping in front of the designated market maker's bid/ask on the Island ECN). An order executes ONLY when both bid and ask meet. (bid = ask) This is completely incorrect. A transaction occurs when an active (marketable) order is matched with a passive (limit book) order. If the passive order is a sell limit then the trade has occurred at the ask, and if it is a buy limit the trade has occurred at the bid. The active orders are not bids and asks. The only exception to this would be if the bid and ask have become crossed. When a seller steps in, he does so with an ask that's lower than the stock's current ask Almost correct; he does so with an order that's lower than the stock's current ask. If it's a marketable order it will fill the front queued best bid, and if it's a limit order his becomes the new ask price. A trade does not need to occur at this price for it to become the ask. This is wrong, market makers are the opposite party to you so the prices are the other way around for them. This is wrong. There is no distinction between the market maker and yourself or any other member of the public (beside the fact that designated market makers on some exchanges are obliged to post both a bid and ask at all times). You can open an account with any broker and do exactly the same as a market maker does (although with nothing like the speed that a high frequency market-making firm can, hence likely making you uncompetitive in this arena). The prices a market maker sees and the types of orders that they are able to use to realize them are exactly the same as for any other trader.


"At this level it's not so much about ""handling money"" in the way we think of it in the first world.   It's more like you have no possible way to get enough capital to get out of a desperately bad situation. But if you do get that capital, you can start digging your way out.  For example, in one case I read about, someone used part of that $1000 to buy a cow. Then she started selling milk and saving money."


Well now your going to have to justify the amount of money a student has to pay to get help via phone/text.  The problem is you're trying to target only your school. Which limits your options. To add on top of it people are already providing it for free.   My honest advice would be to move on from this project. Unless you can provide tutoring for free then leverage the people you meet for another business.


"Assuming no constraints on how much you can move (or how frequently) into and out of your offset mortgage account, the question becomes one of what rate of return you expect from your long-term savings/emergency cash fund. The rate you are getting from the offset mortgage account is known; since it reduces the principal amount owing and thus reduces interest charges, the return is the mortgage rate (though I would not be surprised if the offset mortgage account contract has bells and whistles reducing the effective rate, saying something like 3 pounds reduction of principal for every 5 pounds you put in). So, as a movie character once said, ""Do you feel lucky today?""  If so, move money from your offset mortgage account to savings, and earn more.  If not, move money in the opposite direction. A ""guaranteed"" 2% return on the offset mortgage account might be better than taking a risk on the vagaries of the stock market, and even the possibility of loss in your long term savings account."


Google Peter schiff 2006 housing bubble youtube.  You may not even like the guy, but he was right all along--way before it happened.  (takes about 1 hour or something).  Another of the many guys that saw the bubble way before anyone and profited from it is called Kyle Bass.  I would seriously recommend everybody that sees this post to watch all his videos.    I take this guys seriously.  They have been warning about the crisis for a long time.  The media, on the other hand, will advise you to buy Facebook or something.


Oh surprise, surprise.  The problem forcing the world towards another Great Depression - is that he's not making enough money.  And, the only way to avert disaster - is to do things that will make him even more powerful and wealthy.  What a freaking shock...


Oh come on. I'm sure that's helped to gain momentum quicker but it's not like the guy doesn't have a passion, business knowledge, and the entrepreneurial spirit.   Ever heard about that amazing company that a trust fund baby started? Yeah, me neither.


BLUF:  Continue renting, and work toward financial independence, you can always buy later if your situation changes. Owning the house you live in can be a poor investment.  It is totally dependent on the housing market where you live.  Do the math.  The rumors may have depressed the market to the point where the houses are cheaper to buy.  When you do the estimate, don't forget any homeowners association fees and periodic replacement of the roof, HVAC system and fencing, and money for repairs of plumbing and electrical systems.  Calculate all the replacements as cost over the average lifespan of each system.  And the repairs as an average yearly cost.  Additionally, consider that remodeling will be needful every 20 years or so. There are also intangibles between owning and renting that can tip the scales no matter what the numbers alone say.  Ownership comes with significant opportunity and maintenance costs and is by definition not liquid, but provides stability.  As long as you make your payments, and the government doesn't use imminent domain, you cannot be forced to move.  Renting gives you freedom from paying for maintenance and repairs on the house and the freedom to move with only a lease to break.


Actually when someone hates something that bad, it's only a matter of time before they're fired anyway.  I have hated something this bad before.  A good internship working in environmental crimes.  I didn't last because of a couple things.  People were too conservative (was not expecting that!), and it was god-awful boring, quiet, and lonely.  I had to be switched into something that didn't make me wish for a brain annuerism(?)  It's not entirely up to OP; if the people around him know how much he hates his job, then if this were a real job, he'd be fired anyway.


I agree, but you would think there would be a better area to spend his waning popularity on. Although I'm sure the land is cheap and people there would happily go to a trump hotel, so maybe it'll end up making money.


"Managers aren't receiving pension plans? They do nothing on their own? I agree there needs to be strong leadership and direction, and most people specialize in 1 thing while others specialize in coordinating teams with different skill sets, but the workers aren't just pieces in an intricate assembly line. If you take this corporate philosophy obsessed with short term gains you get jaded workers and create a similar culture. ""*Corporate:* I'll pay the least I can for the best I can get AND I'll fire them on the spot the second I find someone better. *Worker:* I'll work the least I can for as much as I can get AND I'll be on the lookout for better opportunities constantly"". You need to strike a balance of respect somewhere. These are interdependent processes, not a hierarchy of dependent sheep vs corporate overlords."


"While Chipotle execs have admitted that queso was far and away the most requested menu item by its customers, the burrito chain struggled for years to create a queso recipe that adheres to its strict requirements for all natural food and actually taste good at the same time.    “Additives make typical queso very consistent and predictable, but are not at all in keeping with our food culture,""  source: https://www.thrillist.com/news/nation/chipotle-queso-dip-ingredients-recipe"


Well, they did a really *horrible* job of not looking bad.  They dragged people from two different offices in different cities, bussed them to another city, and had a huge money-blowing event.  Then a couple weeks later, they had another one.  This wasn't even the 'mission statement' deal, either.  That was separate, and a month or two later.   Then every meeting people go to, the managers have to harp on them about saving money.  It takes some real strong cognitive dissonance to be able to stomach this crap.  Don't even get me started on the banners they keep hanging up all over that just annoy the crap out of most people.  (those damn things are *real* expensive, too.)


"How about the new Mastercard ""In Control"" card http://www.pivotalpayments.com/ca/industry-news/mastercard-introduces-in-control-program-to-help-consumers-budget-800077802/ You can set budgets at your bank and go between getting alerts when you go over, or completely declined if you are out of money.  There are going to be obvious loop holes and slack in the system, but this system seems like a pretty neat start. Combine this with a bank account that does bill pay and you might have something to work with."


It's generally the hype that blinds them. Unfortunately, as rare as it happens on the scale of the FB IPO - it shouldn't happen at all. But then again, if everyone was well educated, informed and risk averse - we wouldn't have losers in the market. Everyone can't keep winning forever!


Dude. If there was any farmer offering $30/hr there would be every rig hand in the country beating down his door right now. GTFO of here with this BS.   Edit: Actually I know exactly what this guy is talking about. Seasonal harvesting work. So yeah. It's $30/hr for 3 months of work at best. They do have trouble finding people that can afford to get out there because who is doing to give up a decent pay job for only 3 months of work? And who makes minimum wage has the means to up and relocate?


"I fear this question may be impossible to answer, beyond the options you already seem to know about.  It depends too much on the details of your situation, some of which you say you don't know.  If you don't even know how much debt you have, I think you're going to need some kind of professional advice to assess your situation.  One place to start is the National Foundation for Credit Counseling.  This organization can provide free or low-cost advice about your situation, including bankruptcy options. That said, the main missing piece I see in your question is your expenses.  The first thing you should ask yourself is: what am I spending money on, and can I stop spending on money on that in order to save and/or pay off debt instead?  You say that you can ""live comfortably paycheck to paycheck"" and ""routinely"" put money into savings.  Can you start living uncomfortably and thus put a lot more into savings, or towards debt repayment?  Whether this will work or not depends on how much debt you have, but it definitely needs to be part of your thought process. Likewise, if you continually are wiped out by unbudgeted expenses, start budgeting for them."


CFD providers typically offer CFDs to investors using either the direct market access (DMA) model or the market maker (MM) model. Direct Market Access The DMA model gives you access to trade the Underlying instrument on the relevant Exchange from which the CFD is then derived. All CFD Transactions under the DMA model have corresponding trades in the Underlying instrument. Under the DMA model, providers typically charge their clients Commission based on the notional contract value of the CFD. Market Maker The MM model uses the price of the Underlying instrument to derive the price of the CFD that is offered. Trading under the MM model does not necessarily mean that your CFD will be reflected by a corresponding trade in the Underlying instrument. Under the MM model each CFD Transaction creates a direct financial exposure for the provider, which may or may not be hedged in the Underlying instrument. Where the financial exposure is not hedged, the market risk may increase for the market maker. The MM model enables the provider to offer CFDs against synthetic assets, even if there is little Liquidity in the Underlying instrument, which can result in a wider range of products on offer than with the DMA model. Volatility and Illiquidity in the Underlying instrument can affect the pricing of MM CFDs.  The MM model can charge its clients Commission based on the notional contract value or it can incorporate costs and fees in the dealing Spread, which represents the difference in price at which the issuer is prepared to Buy and Sell the CFD. What Do I use and why? I have traded with both DMA and MM models and prefer the MM. The big advantage with MM is that they will provide a market even when the underlying is very illiquid and only might have a few trades each day.  Regarding the spread of the MM to the spread of the underlying, I have found the MM to be practically in line with the underlying spread about 95% of the time. The other 5% it may have been slightly wider than the spread of the underlying by usually 1c or 2c. Most MMs aim to give you the best spread they can because they want to keep your business. If they gave too wide a spread (compared to the underlying) it wouldn't be long before they had no customers.


"That is technically the ""rule of law"" but goes against the spirit of the ""rule of law"", which is the principle that people's rights should be protected by the law regardless of the demands of the many.   >And really, who do you consider to be the ""mighty"" on this issue?   The mighty is those who use the force of government or the threat of violence (e.g. violent strikes) to prevent another party from exercising their contract liberty and firing them."


It's the promise of a dependent subscriber base a la Tassimo or Nespresso machine who change your juice business into a lifestyle money-printer.  This is also why finding out the DRM was useless was a spine-breaking allegation: even if the juices differentiated themselves on the market users could just run around the big pricey machine and subscription.


Not prohibitively expensive to the degree that it can't be done on accident. But it does go against the model of fast and cheap as possible.   I've worked in a few places built in a way that huge swaths of the building are almost impossible to get signal in.   There is a way for them to have their cake and eat it too but it would require a carrier being in cahoots with the company trying to control internet access on premise.


Online banking, including international wire transfers, works from (nearly) anywhere in the world; make sure to have it set up. You can also give someone power of attorney (authorization to act in your name, the bank must accept him as you), if you have someone you trust enough; or if not, give a lawyer power of attorney. You can do that even after the fact, while you are out of the country; you would work with an international lawyer company.