Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

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1500 questions
27
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7 answers

Should I pay more than 20% down on a home?

I'm starting to consider buying a home in a year or three. I'll have a lot of money available at that time -- perhaps enough to do more than the standard 20% down payment. I might be able to manage something more like 30-50% (depending on exactly…
user296
27
votes
4 answers

How does giving money to charity save you money on your taxes?

I regularly hear about people giving money to charity to decrease their tax burden in the US. I don't understand the math of this. If I'm being taxed at a 40% rate, then I can give $500,000 to charity, write it off, and save $200,000 on my taxes.…
yossarian
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9 answers

Why do credit scores have a maximum value?

I live in the UK, and I recently checked my credit score for the first time, on Experian. I saw that it is a number out of maximum of 999. I was surprised to see that there is a maximum credit score to compare against. For example, imagine someone…
Jojo
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8 answers

Professionals who provide the same services as Mint; i.e. personal expense tracking & analysis?

Not long ago I went to a financial advisor/money manager for a discussion of all (I mean all) my finances and was needing some analytics in the short term to decide what smart actions to take for the long term. We talked right past one another…
SeligkeitIstInGott
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27
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5 answers

Someone asked me to login to his bank account and make transfers to another account

Someone I knew online asked me to log in to his account in Pioneerbanking.online and make a few transfers for him as he "couldn't do it by himself for a couple of reasons". I foolishly did help him made 2 transfers and he's urging me to do the 3rd…
Lan Anh
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27
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6 answers

What does "not touching the principal" actually mean?

When talking about "trust fund children" or large savings it's common to hear the phrase "not touching the principal", which means that only the "earnings" from the money are spent, and the cash pile itself does not get smaller. However I am not…
ConcernedCitizen
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27
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3 answers

What Mutual Funds does Dave Ramsey Invest in?

Heard Dave Ramsey speaking the other night on his growth mutual fund strategy and he mentioned reading one of his fund's prospectus and said this fund had a 78 year history and 11.94% average return over those 78 years. Tried some searches but not…
Valien
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11 answers

I gifted money to my girlfriend for a down payment on a house and we broke up. Am I entitled to my money back?

I'm writing to ask a question about gifting my fiancé a down payment for the home we currently live in and bought. So when I gave her 14,000 for the down payment of our home we were engaged. At this time two weeks ago she told me she doesn't love…
richey anglin
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2 answers

Could my employer match contribution have caused me to have an excess 401K contribution?

Could my employer's match have caused me to have an excess 401K contribution? For 2020, I contributed the maximum into my 401k-Roth, $19,500. I also made a catch-up contribution (I'm eligible) to my 401k-traditional of $6500 for 2020. So I believe…
Ira
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27
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8 answers

Is it wise to keep some savings in a cash account to protect against a long term market crash?

My wife and I have half our savings in a low risk diversified account (WealthFront - mostly bonds, some stocks). We have the other half in a high interest cash savings account (0.35% interest). Our thinking is that, if there's a long term market…
Mary Rose Cook
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27
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4 answers

Unexpected goods delivery - is this a scam, and what kind of scam?

My wife received a small package, containing a pair of Ray Ban sunglasses (whether original or fake I don't know) in a nice leather-looking case. It is addressed to her, correct name, street, postcode, and her mobile phone number printed on it.…
gnasher729
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4 answers

How does one find a good financial advisor?

I've talked to a few FA's and they all seem more intent on selling me products than giving me advice. Case in point - one of them was pushing me to invest my cash savings in her bank's funds when I had about $10k in credit card debt that should…
Giablo
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27
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11 answers

Should I ask the seller of a house for a price reduction given a recession is almost certain?

I've gone sale agreed (note: "sale agreed" means the sale has been agreed in principle - no contracts have been signed, no non-refundable deposits have been made etc.) on a house. The market I'm currently in was extremely competitive, houses were…
TomSelleck
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27
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13 answers

Best way to invest $300,000 inheritance for a couple intending to retire in 10 years

My wife and I are getting older and have a target to retire in 10 years. We just inherited $300,000 from a family inheritance (from liquidated property). So this money will come shortly and I'd like to know the best way to invest it (especially as…
CoolDocMan
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27
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5 answers

Buy house with down payment, no loan, sell instantly

I just read Rich Dad Poor Dad, and I have no idea about mortgages, loans or real estate. The author of the book describes a scenario in which a property is found for a cheap price (auction in this case), then acquired via a down payment and…
Opcode
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