ASK A FINANCIAL ADVISOR!! Money questions? Bring 'em on!!
TheSwoleMinister_deleted
Posts: 540 Member
in Chit-Chat
Yup, used to have our own financial planning firm. Did lots of personal finance and budgeting. I will answer your questions about:
Investing
Retirement accounts
Insurance (life, auto, etc)
Credit reports and scores
Debt management / Consolidation
Mortgages / Refinancing
Credit cards
Personal banking
Tax Refunds
OK folks, the office is now open! BRING ON YOUR QUESTIONS!!! :bigsmile:
****DISCLAIMER: Keep in mind that this is just advice from somebody who has a lot of general knowledge in the subject matter. Any actions you take as a result of any advice I give will be solely your responsibility and I will not be held liable for the outcome.
Investing
Retirement accounts
Insurance (life, auto, etc)
Credit reports and scores
Debt management / Consolidation
Mortgages / Refinancing
Credit cards
Personal banking
Tax Refunds
OK folks, the office is now open! BRING ON YOUR QUESTIONS!!! :bigsmile:
****DISCLAIMER: Keep in mind that this is just advice from somebody who has a lot of general knowledge in the subject matter. Any actions you take as a result of any advice I give will be solely your responsibility and I will not be held liable for the outcome.
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Replies
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Show me the money.....
SHOWMETHEMONEY!0 -
I also enjoy finance. I will give my take on any questions as well.0
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How rich do you think I can get after selling shakeology?
Maybe get into a membership deal with planet fitness. Give their customers a deal or something (by $100 worth of shakeology, get this amazing balloon with oxygen in it!)0 -
Do I need to pay my bills? Or is it just a friendly suggestion?0
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Do I need to pay my bills? Or is it just a friendly suggestion?
Well, "need to" is relative, isn't it? :bigsmile:0 -
How do you find a FA that you can trust? Are they all out "just to make money". Especially being a single woman, I'm always afraid that I'm not really getting the whole story in any situation.0
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What should my monthly allowance for strippers be?
50% of my income?0 -
What should my monthly allowance for strippers be?
50% of my income?
You forgot the blow0 -
How do you find a FA that you can trust? Are they all out "just to make money". Especially being a single woman, I'm always afraid that I'm not really getting the whole story in any situation.
Your best bet is to find a "Fee only" FA. Fee-only financial planners are registered investment advisors with a fiduciary responsibility to act in their clients’ best interest. They do not accept any fees or compensation based on product sales. Fee-only advisors have fewer inherent conflicts of interest, and they generally provide more comprehensive advice.0 -
Please diagram an iron butterfly and explain its function and why someone would take such a position.0
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How do I get more of this thing called money?
But I also don't want to do anything like watch what I spend or exercise good judgement.0 -
How much are you taxed in the US? We are taked about 40% here
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How much are you taxed in the US? We are taked about 40% here
There isn't a universal tax on everyone, each individual will fall somewhere different on the tax scale based on a large number of influencing factors.0 -
Where did all my money go?0
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I am pretty broke. How do I stop being broke?
I have a couple of offers for Sugar Daddies. Do I need to tell the IRS about this? I'd rather not pay taxes.0 -
I also enjoy finance. I will give my take on any questions as well.
OH! Okay how much for a 5 dollar footlong? And is it really a foot long. And if i have 6 dollars then how long will it be. And will you wear your uniform?0 -
I am pretty broke. How do I stop being broke?
I have a couple of offers for Sugar Daddies. Do I need to tell the IRS about this? I'd rather not pay taxes.
Ooo Great question! And if we do report it, do we file it all under one or do we have to submit for each of the Sugar Daddies?0 -
I'd rather ask, if you're Minister for my wedding do I get a discount on you being stripper for the stag party?0
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I am pretty broke. How do I stop being broke?
I have a couple of offers for Sugar Daddies. Do I need to tell the IRS about this? I'd rather not pay taxes.
This one's easy! Just start earning more money than you spend :bigsmile:
And if you can find enough write-offs, you don't have to pay any taxes. There you go!!!0 -
How much are you taxed in the US? We are taked about 40% here
There isn't a universal tax on everyone, each individual will fall somewhere different on the tax scale based on a large number of influencing factors.
Correct. So if you earn $50K (that is considered moderate in Aus) what are you taxed?
Most people in my industry are $60K onwards (Australia is quite expensive to live in)0 -
I'd rather ask, if you're Minister for my wedding do I get a discount on you being stripper for the stag party?
Finally, a REAL question about saving money! :laugh: :laugh:0 -
I'd rather ask, if you're Minister for my wedding do I get a discount on you being stripper for the stag party?
My wedding is only legal in about 1/3 of the states.
It is ILLEGAL ( LIKE DRUGS) for me to get married.
I'm sad now.
oops. that was really of topic . uhm HERE'S A KITTY0 -
How much are you taxed in the US? We are taked about 40% here
There isn't a universal tax on everyone, each individual will fall somewhere different on the tax scale based on a large number of influencing factors.
Correct. So if you earn $50K (that is considered moderate in Aus) what are you taxed?
Most people in my industry are $60K onwards (Australia is quite expensive to live in)
Still too many factors to tell you. There are both federal and state income tax in most US states, and there is NO state income tax in a few of the states. Also, there are different tax rules altogether for the self-employed. A wage-earner making $50K will pay a different amount in taxes that a self-employed person who earns $50K.0 -
How much are you taxed in the US? We are taked about 40% here
There isn't a universal tax on everyone, each individual will fall somewhere different on the tax scale based on a large number of influencing factors.
Correct. So if you earn $50K (that is considered moderate in Aus) what are you taxed?
Most people in my industry are $60K onwards (Australia is quite expensive to live in)
Still too many factors to tell you. There are both federal and state income tax in most US states, and there is NO state income tax in a few of the states. Also, there are different tax rules altogether for the self-employed. A wage-earner making $50K will pay a different amount in taxes that a self-employed person who earns $50K.
Who do I have to throw money at to earn $50k a year??0 -
I am pretty broke. How do I stop being broke?
I have a couple of offers for Sugar Daddies. Do I need to tell the IRS about this? I'd rather not pay taxes.
This one's easy! Just start earning more money than you spend :bigsmile:
And if you can find enough write-offs, you don't have to pay any taxes. There you go!!!
Write-off like donating money to the poor and people in need? Cuz I'm in need of some new shoes.0 -
How do you find a FA that you can trust? Are they all out "just to make money". Especially being a single woman, I'm always afraid that I'm not really getting the whole story in any situation.
Your best bet is to find a "Fee only" FA. Fee-only financial planners are registered investment advisors with a fiduciary responsibility to act in their clients’ best interest. They do not accept any fees or compensation based on product sales. Fee-only advisors have fewer inherent conflicts of interest, and they generally provide more comprehensive advice.
I would agree with this. However, there is one caveat. Most fee-only advisors have a minimum portfolio size (typically $250K or more) that they require before they will take on a client. For someone who is just starting out, that's generally unrealistic. I would suggest walking in to a Schwab branch or a Fidelity branch if there is one in your city. They will work with you and give you guidance, online resources and their phone hotlines have a lot of very good people. They do NOT sell "loaded" funds in which you pay a commission up front on any investment.
Stay away from insurance based firms (i.e. Northwestern Mutual, AXA) and firms that do sell loaded funds (i.e. Edward Jones). Ask anyone you interview how they get paid. They should have no problem giving you a straight answer. If they don't give you a straight answer, that's a red flag. Straight commission brokers are not necessarily the devil - I've known some very good and honest ones - but remember that they have to sell something to make any money.
Best of luck!!0 -
I will be a grad student, starting this fall, and I'm getting a "parent loan." They want me to have life insurance just in case something happens and I, being dead, am not able to pay them back the $20,000. What kind of life insurance should I get? Keeping in mind I am a poor grad student.
On that note, any advice for me regarding budgeting, since I will need to work to support myself while I'm in school?0 -
I will be a grad student, starting this fall, and I'm getting a "parent loan." They want me to have life insurance just in case something happens and I, being dead, am not able to pay them back the $20,000. What kind of life insurance should I get? Keeping in mind I am a poor grad student.
On that note, any advice for me regarding budgeting, since I will need to work to support myself while I'm in school?
I'm a master at budgeting.
Don't. Buy. Stuff.0 -
I will be a grad student, starting this fall, and I'm getting a "parent loan." They want me to have life insurance just in case something happens and I, being dead, am not able to pay them back the $20,000. What kind of life insurance should I get? Keeping in mind I am a poor grad student.
On that note, any advice for me regarding budgeting, since I will need to work to support myself while I'm in school?
Get a cheap 10 year term or an ART (annually renewable term). It shouldn't cost you more than $20 a month for that small a death benefit (depending on your health). I honestly doubt it would even be that much.0 -
I will be a grad student, starting this fall, and I'm getting a "parent loan." They want me to have life insurance just in case something happens and I, being dead, am not able to pay them back the $20,000. What kind of life insurance should I get? Keeping in mind I am a poor grad student.
On that note, any advice for me regarding budgeting, since I will need to work to support myself while I'm in school?
I'm a master at budgeting.
Don't. Buy. Stuff.
Can you come look at my budget? I seem to have trouble with the first part of that.0
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