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

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1500 questions
25
votes
10 answers

How can I protect my 401(k) when the stock market is performing badly?

I just opened my 401(k) at the beginning of 2017. In 2017 it did great because of the bull market, but since 2018 I've lost about $1,000. All of my contributions this year have been a complete waste. I feel like a lot of that could have been avoided…
401k-newbie
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25
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11 answers

What do I do if my income is just a little too high for "free file"?

I live in North Carolina and I'm using the H&R Block website to file my taxes and finally at the end of everything they informed me that there's a limit to how much I could make last year and still be eligible for free file. My income was…
Kyle Delaney
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5 answers

Who gets the interest on a 401(k) loan?

I was looking at some information about my 401(k) and noticed that it's possible to take out a loan from your 401(k) - it was something like 6.5% interest, which probably isn't as good as a conventional loan/mortgage... But if the 6.5% interest is…
Wayne Werner
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6 answers

Should I, as a young person, get a credit card with "bad" conditions?

I'm a twenty year old in Russia, not enrolled in education, working full-time officially for a software development company. I'm earning a taxed steady income that can be considered decent, yet when I applied for a credit card at my current bank it…
Ivan T.
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25
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7 answers

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

This reads a bit like a home-work question, but this is actually my situation. The job I've taken is a BYOD (bring your own device), workplace and I prefer to use my own equipment. I've just started a new job and need to buy a new laptop within the…
user67312
25
votes
3 answers

Amex cash back at a grocery store

When I go to the grocery store I have the opportunity to get cash back (groceries cost $23, I opt for $20 cash back, and my card gets charged $43 instead of $23 leaving me with $20 cash in-hand). My question is this: Does AMEX see the cash-back…
rein
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25
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8 answers

Why do people take out life insurance on their children? Should I take out a policy on my child?

I've always found those flyers that the schools send home in September contemptible. But maybe I'm the one in the dark...? If the purpose of life insurance is to replace a wage-earner's income in case of death, why would anyone purchase a policy…
Nat_Rea
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8 answers

Should Emergency Funds be Used for Infrequent, but Likely, Expenses?

Say we break down non-monthly costs into the following three categories. High level of predictability: This would include oil changes that may be needed every 2 to 4 months depending on usage, car insurance (if paid every 6 month), car…
danjuggler
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3 answers

Better to rent condo to daughter or put her on title?

We're contemplating purchasing a small condo in MI for our daughter to live in while she goes to law school. This would be an all cash purchase, so no mortgage. If daughter is listed as a co-owner, we can save about $100 per month on property…
Barbara
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25
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3 answers

What is the cause of sudden price spikes in the FOREX market?

I just started trading currencies on the FOREX market and notice that, sometimes out of the blue, there is a spike of massive PIPS in an instant. Who has the power to do that and why would anyone buy or sell like that?
t q
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25
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2 answers

I cosigned on a house for my brother

I cosigned a mortgage for my brother 9 years ago. I was young and he convinced me that it would be good for my credit. Recently my credit dropped 70 points because he was 60 days late on the payment. He has been late before, he is usually on time…
L. Will
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8 answers

Does this sound like a great idea regarding being a landlord and starting a real estate empire?

I want to build a small empire of my own over time in real estate. I want to pay 20% for a house and rent it out for a small profit (hopefully make around 3 - 5k a year in profit) and then pay it off as soon as possible. Once I pay the house off, I…
user51866
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5 answers

Why are daily rebalanced inverse/leveraged ETFs bad for long term investing?

I was reading this article about S&P 500 short ETFs: https://www.zacks.com/stock/news/176217/4-ways-to-short-the-sampp-500-with-etfs and I was confused when it said: "investors should note that such products are suitable only for short-term traders…
glen4096
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4 answers

How can I send money on Paypal without revealing my real name or address?

I have not used Paypal before; however, I need to use it to send money now. I have heard that Paypal shows your real name and address when you send money. How can I stop that, so that I can send money without giving the recipient my real private…
Somatic
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9 answers

Should I buy a car if otherwise transportation is free?

I am moving to Pittsburgh for 5 years. As a student, all public transportation in the entire city (+ shuttles and escorts from any university) are free for me. I also plan to live near the university (short bus ride). Is it worth it to a buy a car…
guesthmmm
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