Personal Finance and Money Stack Exchange
Personal Finance and Money Stack Exchange

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1500 questions
19
votes
4 answers

How does holding onto an active but un-used credit card affect your ability to get a loan?

I was debating with my friend about my old credit card. His view is that holding onto an unused credit card is bad for my credit b/c it will count as potential money I can borrow in an instant and will impact my ability to get a loan much harder…
Tolure
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19
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4 answers

If I have given my bank details to someone by email what should I do now?

I have given someone my bank account details including my home address and phone number by email, supposedly so that money can be transferred into my account. I am now quite sure this is a scam. What do I do next, i.e. how do I protect myself from…
Julianne bhana
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19
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2 answers

Job offer in Sweden: Confused about the salary breakdown

I have received a job offer in Stockholm for a Software Engineering position and have had a verbal discussion about the same. What I have been informed is that I will receive 31000 krona (after tax) as my monthly salary. However, the catch is I will…
Priyath Gregory
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18
votes
3 answers

Regular contribution threshold for ETF vs Index Mutual Fund?

I've seen enough info out there comparing lump-sum investments into ETFs vs mutual funds with respect to broker commissions in the case of ETFs, and the discrepancy between MERs between the two. In that case, it's quite easy to figure out the…
fideli
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18
votes
3 answers

Why would a previous year's tax deductions affect the current year's taxes?

For the first time in several years, I'm preparing the income tax filing for my family. Since a professional did the preparations last year, we had no electronic records to directly load into the software we bought for the preparations. Thus, I've…
GreenMatt
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18
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11 answers

Is your future tax bracket the ONLY consideration for Roth vs Traditional 401(k) accounts?

I understand that Roth contributions get taxed on the way in. Income tax now at whatever tax brackets currently apply, no tax to pay when I take distributions at retirement. I understand regular pre-tax 401(k) contributions get taxed at retirement…
DVCITIS
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18
votes
2 answers

Ram Solutions Group, genuine or scammer?

I have received an email from RAM SOLUTIONS GROUP offering to buy my shares at a higher price than I paid. How do I check this company is genuine?
Charles
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18
votes
9 answers

How do you measure the value of gold?

With stocks in a company, when you do valuations, you can look at things like how much profit the company has made, or how much dividends it gives back, in order to get values with Price Earning ratios, which you can base your valuation on. With…
Joe.E
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18
votes
2 answers

Special Needs Trust and Financial Planning

update: I may not have explained it clearly in my post below but I don't believe the intent is to close out the 401k or fund the life ins. policy using it. I will clarify with the consultant what the 401k proposal involves. update 2: confirmed the…
Rich J
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18
votes
2 answers

Get a human when calling the IRS hotline 800-829-1040 with a question about your taxes?

How do I get to a human when calling the IRS? I keep hitting automated robots.
Patoshi パトシ
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18
votes
3 answers

How does dividend work in an index fund?

What does a manager do with the dividends of the companies in the index? Does he reinvest the dividends in the company in which he got the dividends or will just choose whichever company suits him? How will this affect the investor? Finally, how…
Louis
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18
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4 answers

529 College Savings Worth It?

Is the 529 college savings plan a good idea, or are there better ways to save for my child's college tuition? My children are 5 and 3.
Shane
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18
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1 answer

Why does the Morningstar overview of VMMXX say 81% cash?

I was reading about Vanguard's Prime Money Market Fund, VMMXX, whose investments are characterized thusly by Investopedia: The holdings include U.S. Treasury bills (T-bills) with a 24.1% portfolio weighting, U.S. government obligations at 11.8%,…
temporary_user_name
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18
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2 answers

Bringing bitcoin into US, what taxes should I expect?

My friend owns roughly $1M USD worth of Bitcoin. These coins are sitting on a (backed up and encrypted) hard drive in Brasil. He bought these coins legitimately, and has the paper trail to prove it. He recently moved to the US, and now wants to get…
Steven Smith
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18
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2 answers

Is "odd days interest" really a thing in a mortgage refinance?

I've got a question on closing costs for a mortgage refinance. For whatever it may be worth, this is a FHA streamline refi. One of the closing costs is "odd days interest". This was explained as follows: If the loan closes on Aug 1st, and funds on…
Patches
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