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

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1500 questions
48
votes
14 answers

Is it a good idea to copy a trader when investing?

I constantly get bombarded with an etoro commercial on youtube about a feature where you can replicate someone else's trading activity in real time. More details here. You select another trader and then you copy what he or she is doing, to get the…
Pips
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48
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7 answers

Can one live in the U.S. and not use a credit card?

The title may not be very accurate. I'm European (Italian) so I don't have a very clear idea of how it works in U.S. My understanding (correct me if I'm wrong) is that the economy there incentivises the people to use credit cards, and eventually…
Fez Vrasta
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48
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1 answer

Numbers in parentheses in financial statements?

In financial statements numbers are sometimes given with parentheses around them, while other numbers appear without parentheses. What does it mean if a number is enclosed by parentheses?
Kagaratsch
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48
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6 answers

How do tax brackets work? Do they yield significantly different results than a continuous curve?

In Canada (and many other countries), high-earners pay a greater percentage of their income in taxes than low-earners. Here is our Schedule 1 form: The marginal utility of money decreases smoothly with increased income: If I earn $91,830, an…
maservant
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47
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6 answers

How can someone profit from a horse as an investment?

A recent Forbes article states that you can invest in horses and livestock in an IRA. you can also invest in the following: - real estate - farm land - horses and livestock - water rights - physical gold, cryptocurrencies, tax…
Pacman
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47
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2 answers

Best way to make sure my son has an income after I have died

I have a son with special needs, he is autistic and has learning difficulties. It is unlikely he will ever have a 'normal' life or be able to financially support himself. I am extremely worried of what will happen to him when me and his mother are…
user1450877
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47
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8 answers

How do you invest in real estate without using money?

I saw some infomercial with Than Merrill, a businessman, which claimed that anyone can, and I quote, "Invest in real estate and reap big money -- even without using a penny of your own cash." I know this is broad, but this isn't a scam -- it's a…
Sinkon
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47
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12 answers

How much more than my mortgage should I charge for rent?

We're considering moving at some point in the future, and right now we have a mortgage on our home. So far we've been here about 3 years, and we're considering renting out our home. Obviously there will be costs associated with renting the home out:…
Wayne Werner
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47
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9 answers

How do rich people guarantee the safety of their money, when savings exceed the FDIC limit?

I am curious how a millionaire would guarantee the safety of his money, given that the FDIC only insures up to $250K of an individual's deposits at a bank. If someone had $3 million that they wanted to put into the bank, would they have to open up…
7529
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47
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9 answers

Am I a billionaire if a friend gives me $1000 for 0.0001% of my "company"?

If my friend gives me a thousand dollars for 0.0001% of my "company", am I technically a Billionaire now?
Aditya_math
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47
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9 answers

I believe this to be fraud — hired, then asked to cash check and send cash as Bitcoin

I have been "hired" by Nissan Motor as a key account specialist. My first assignment is to cash two checks that I have received. Both were written by a customer who has already received the engines. The total is $2500. I am to cash the checks, get…
john balint
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46
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7 answers

Is life insurance a financially sound safety net?

I'm the sole provider of a household of two - myself and my wife. I make enough to keep us both afloat, with a sizeable chunk of luxury on the side. For practical numbers, I am a month away from paying off a student loan (less than $600…
Zibbobz
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46
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4 answers

Would using an expensive car as collateral for a small loan to get cheap parking work?

There's a rather old joke which is being told in many variations and my question would be whether events narrated could actually happen in real life. I'm not in the US so I don't know all the details of how banks work in the US. The joke goes…
sharptooth
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46
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12 answers

Is it legal if I'm managing my family's entire wealth?

My family (father, mother, and brother) have allowed me to invest their money in the stock market and other types of investments (real estate, bonds and mutual funds). Is it legally okay to do all the investments under my name? Which means that I…
Anoneemus
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46
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7 answers

Why would a bank need to accept deposits from private clients if it can just borrow from the Federal Reserve?

As far as I understand, all banks can borrow money from the Central Bank (Federal Reserve in the US) and the rates are (currently) extremely low (or even negative in some cases). If that is so, why would a bank need to accept deposits from private…
JonathanReez
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