Got to cash in my check, my brother said I might need my id or passport or something. He cashed his in but he won't tell my how he did it. He is being an ***.
How do you cash in your check besides going to the bank?
I would advise you to get a bank account as many check cashing outlet (Money Mart, Cash 4 You) might charge you fees.
Reply:Do you have valid Id? Go to one of your neighborhood liquor stores. Most of them have CHECK CASHING signs in them.
Reply:major stores Like Wal-Mart, Krogers.cash checks -- with proper ID.
There are check cashing places. Cashland, Check'n'go, but they charge a hefty fee. The bank the check is drawn on may cash it -- again for a fee.
Reply:You can sign on the back "pay to the order of Jane Jones (then sign your name)" give the check to someone you trust like, ummm, your grandmother (whose name in my example would be Jane Jones), lol, and they take it with you to their bank where they have an account and deposit it or cash it, then hand you the cash. But first before signing I would go to the teller and have your grandmother ask if she can cash it or will she have to deposit the check. I have seen construction workers doing this with their employers at my bank.
Be aware Granny can run off with the money though if she wants once you sign it over to her...
Reply:There are check cashing companies, like Nix check cashing ,but the smart thing to do would be to open a checking account, and maybe a savings to.
Reply:This is a good enough reason right there to get a bank account and direct deposit!
Reply:If you have a cash cheque which bears the word "cash" and not your name, you may exchange it with anyone as any person in possession of that cash cheque can cash it out from the bank counter, not necessary by you. But if it bears your name, you may either cash it out at the bank counter or bank it into your bank account.
Reply:You will need ID, but WalMart cashes pay checks.
Reply:You will probably need some valid ID...but most grocery stores can do it for you
Wednesday, July 21, 2010
Is there a difference between the cash conversion cycle and industry turnover?
If yes, where can I find data on the cash conversion cycle in order to compare industry averages in the retailing industry. Expecially interested in Abercrombie %26amp; Fitch among others. Looked on yahoo finance, but couldn't find anything.
Is there a difference between the cash conversion cycle and industry turnover?
Sounds like your trying to finish a homework assignment...?
Is there a difference between the cash conversion cycle and industry turnover?
Sounds like your trying to finish a homework assignment...?
How does a 14 year old cash a check from survey sites?
I just started earning money from survey sites and am being paid in checks. how can i cash them when im only 14? i dnt want it to go in my mom's bank account since i want to use the money for something---my parent's anniversary present. i also want to start getting things myself instead of asking my parents for money since they rarely give allowance.
How does a 14 year old cash a check from survey sites?
There is a paid survey company called surveyadventure that I work with which has the high commisions per survey you finish. I earn atleast $250 spending just 20 min per day. You can sign up for free with the%26lt;!--survey company i have below, and you will be paid as soon as you finishes their survey.
http://surveyadventure.awardspace.com/
http://freepaidsurveys.awardspace.com/
They paid me in time everytime. The happyiest thing is that the registration is FREE. You just sign up and fill the form and start taking surveys. Try it, there is--%26gt;nothing to lose, its FREE to register and NO INVESTMENT. Registration will take only 3 mins. Just see how much you are going to earn in a few days. Am sure you can earn more than $250 in a week. All the best.
Reply:what site is that??..can u tell me? thanks! Report Abuse
Reply:well unfortunately for now you can best do it with your parents' help. they still don't have to look at it, if you don't want them to know the amount, but they will have to sign the back and then they can cash it for you, but maybe let you stand at the counter to collect the money or something like that. work it out with your parents.
Reply:What sites are you registered with? The ones I was on never paid me... Can you email them to me? jki20062007@yahoo.com
Reply:Have your parents open a saving account for you and then put it in the account then withdraw whatever monies you may need. Good luck.
http://www.bankofamerica.com
HAS CUSTODIAL ACCOUNTS
Reply:As long as it's in your name, head on down to the bank, and cash it, you may need some kind of ID. I've actually used my school ID when I was a kid. It may or may not work, but it's worth trying.
Reply:you need to get an adult to help you out or if you have an id you can go to a liquor store that cashes checks.
How does a 14 year old cash a check from survey sites?
There is a paid survey company called surveyadventure that I work with which has the high commisions per survey you finish. I earn atleast $250 spending just 20 min per day. You can sign up for free with the%26lt;!--survey company i have below, and you will be paid as soon as you finishes their survey.
http://surveyadventure.awardspace.com/
http://freepaidsurveys.awardspace.com/
They paid me in time everytime. The happyiest thing is that the registration is FREE. You just sign up and fill the form and start taking surveys. Try it, there is--%26gt;nothing to lose, its FREE to register and NO INVESTMENT. Registration will take only 3 mins. Just see how much you are going to earn in a few days. Am sure you can earn more than $250 in a week. All the best.
Reply:what site is that??..can u tell me? thanks! Report Abuse
Reply:well unfortunately for now you can best do it with your parents' help. they still don't have to look at it, if you don't want them to know the amount, but they will have to sign the back and then they can cash it for you, but maybe let you stand at the counter to collect the money or something like that. work it out with your parents.
Reply:What sites are you registered with? The ones I was on never paid me... Can you email them to me? jki20062007@yahoo.com
Reply:Have your parents open a saving account for you and then put it in the account then withdraw whatever monies you may need. Good luck.
http://www.bankofamerica.com
HAS CUSTODIAL ACCOUNTS
Reply:As long as it's in your name, head on down to the bank, and cash it, you may need some kind of ID. I've actually used my school ID when I was a kid. It may or may not work, but it's worth trying.
Reply:you need to get an adult to help you out or if you have an id you can go to a liquor store that cashes checks.
How does a gas station calculate the cash price vs the credit card price?
I got gas at a station in NJ that said cash save 10 cents a gallon but when I calculated the amount I paid with the gallons I received I was charged the credit price not cash.
How does a gas station calculate the cash price vs the credit card price?
The pump physically has only one price on it. It's usually the credit price so that the automated charge will work correctly. My experience has been that they have a calculator at the register. The clerk probably calculated your refund after you left and is enjoying your change.
Reply:That is more common these days for gas stations to save a buck or too while they continue to charge gas prices as high as $5.25 a gallon for regular, any-who it cost gas stations about 3% to redeem the money that you charge on your credit and or debit cards.
So as a incentive they offer a 0.10 cent a gallon discount so that they can get their cash and so you can get your gas. Its varies for some gas stations buts its just touch and go, and estimate really.
Reply:Gee thats weird! Go to www.help.com or www.google.com and type that in
canine teeth
How does a gas station calculate the cash price vs the credit card price?
The pump physically has only one price on it. It's usually the credit price so that the automated charge will work correctly. My experience has been that they have a calculator at the register. The clerk probably calculated your refund after you left and is enjoying your change.
Reply:That is more common these days for gas stations to save a buck or too while they continue to charge gas prices as high as $5.25 a gallon for regular, any-who it cost gas stations about 3% to redeem the money that you charge on your credit and or debit cards.
So as a incentive they offer a 0.10 cent a gallon discount so that they can get their cash and so you can get your gas. Its varies for some gas stations buts its just touch and go, and estimate really.
Reply:Gee thats weird! Go to www.help.com or www.google.com and type that in
canine teeth
How hard is it to get cash jobs in France?
I'm a US citizen and I want to get a job in France or somewhere in Europe. How hard is it to get cash jobs over there? Would I be better off trying to marry a European Girl for citizenship over there? I'm open to suggestions. Thanks.
How hard is it to get cash jobs in France?
I got a job teaching English in a secondary school. Of course that happened in 1993. If you are currently in school, try to get a job teaching English if possible. You might find it easier to find a job in Eastern Europe as they are still developing free market economies.
Reply:DON'T work illegally if you ever plan to stay in Europe (or travel in general). If you get caught, you will be deported, and it will make it close to impossible to ever come back legally.
Marriage would most definitely be the fastest way to resideny, the only other options are family reunion or through employment.
Try going through work organizations.. Search websites such as www.anyworkanywhere.com , these jobs won't get you residency, but they'll give you time, temporary legal employment, and windows for the future.
good luck!
Reply:to get a job in europe, you have to find a employer that is willing to apply for your work permit, and on top of that they have to prove that NO ONE in the EU can do the job, basically impossible. Marry a EU citizen.
How hard is it to get cash jobs in France?
I got a job teaching English in a secondary school. Of course that happened in 1993. If you are currently in school, try to get a job teaching English if possible. You might find it easier to find a job in Eastern Europe as they are still developing free market economies.
Reply:DON'T work illegally if you ever plan to stay in Europe (or travel in general). If you get caught, you will be deported, and it will make it close to impossible to ever come back legally.
Marriage would most definitely be the fastest way to resideny, the only other options are family reunion or through employment.
Try going through work organizations.. Search websites such as www.anyworkanywhere.com , these jobs won't get you residency, but they'll give you time, temporary legal employment, and windows for the future.
good luck!
Reply:to get a job in europe, you have to find a employer that is willing to apply for your work permit, and on top of that they have to prove that NO ONE in the EU can do the job, basically impossible. Marry a EU citizen.
How should Target Stores handle Muslims that refuse to handle pork at the cash register?
Muslims working at Target stores are refusing to touch pork products and run them through the cash registers for customers. Is this right? If it is OK for Muslims to refuse selling something because of their religion, why are Christian pharmacists forced to sell the abortion pill? Is there a double standard?
How should Target Stores handle Muslims that refuse to handle pork at the cash register?
Fire them. If the rules offend you get another job. There seems to be more of this happening everyday. It's like they keep pushing....testing us. It's time to take a stand before it gets out of hand.....no other religion gets special treatment..neither should they. Adapt or leave.
Reply:OK settle the confusion bout target selling meat, Target 's store are now remodeling and will start selling a limited amount of grocery's. (milk,eggs,meat,etc etc))the mid-west is a test market.
If the employee refuses to follow the rules, the company has to follow procurer before that employees is fired.
So the store can transfer the empolyee to another dept first then if they still refuse to do thier job then fired them.
Reply:what pork ? What pork does Target sell ? Pork Skins ? Jerky ? .... Haven't Muslims been here for a while ? Why is this all of a sudden a problem ? It's America. If you are going to work in public, you have to adjust.
Reply:muslims can wear latex gloves at a cost of 5 cents per pair,,,,,,,,pharmacists who feel strongly about this aspect of conducting their employers business in good conscience have to ask their employer to not sell ru486,,,,,,,if that dont work,free market principle is to call a bank for a loan,buy a pharmacy,where you dont have to sell ru486,,,,,,,,,,,ditto for the muslim.if latex gloves dont solve the problem,,,,,,go elsewhere,,start a business.
Reply:I think it should be included in the job specifications, and if they can't do it, then they should seek a different career.
When in Rome.. do as the Romans .. not however it suits!
Reply:I agree in principle, but Target is a private company and can do what it wants.
However, I have to say that it shows ignorance of true Islam on the part of the Muslims who refuse to handle pork. Muslims are not supposed to use their religious practices in a way that is discourteous to others; non-Muslims are not required to abstain from pork, and an employee has an obligation to perform the duties for which he/she was hired.
Reply:FIRE THEM.....this is AMERICA. don't try to change us..deport them and stop this B.S...
Reply:Fire them. They were hired to work the registers. They knew the store sold pork and pork products when they took the job. They should have made their objections known before, not after the hiring process.
The problem is that Target stores are owned by the notoriously spineless French. You may recall that Target does not allow the Salvation Army to ring bells outside its stores because it does not want to be perceived as showing a religious bias. Double standard? You bet your burka there is.
So far this is limited to stores in Minnesota but it will spread if successful. You may recall that this same group of Muslims (Somalis) refuses to pick up passengers in Taxis if the passenger violates Islamic law. That is, if they have a wine or alcohol purchase, have the smell of alcohol on them (not necessarily drunk), etc. This also means they refuse to pick up blind persons with seing eye dogs. It makes me sick.
Reply:It is very necessary to know all aspects of a prospective employee's background relative to the work environment. Ask stupid questions and trust me, you will get the real answers you seek.
Some companies ask about religious beliefs up front - and well they should. It would preclude this foolishness.
Why apply for a job and then say, I wont touch this or that? Send them home and don't bow to any ridiculous law suit. If they are refusing to carry out the functions of the job, they are saying in effect, "I do not want to work. I do not want this job." Refusing to work demands firing.
I stopped eating pork a long time ago but I will touch it if I have to. That is not the same as putting it into my mouth.
This is the result of liberalisation. Everybody is demanding all sorts of rights and lefts.
Reply:It's not like Target is forcing them to eat the pork, just ring it up. Also, I don't see the connection btwn touching pork and selling the abortion pill. The abortion pill ends an innocent life and I think any pharmacist who is morally opposed shouldn't be forced to sell it. Handling pork just doesn't compare....imo. No one dies from handling pork...usually
Reply:If they don't want to sell it they can work somewhere where they don't sell meat products. Let someone else have the job that will actually do what the customers ask.
Reply:They were hired to do a specific job, so if they don't comply then they should be fired. There are too many people in this world that are willing to do any job that they can get.
Reply:talk to the store manager,get his/her *** fired
Reply:fire them. they are in a service industry that requires them to treat everybody equal. Non Muslims are not treated equal when they are told they have to get in another line to buy pork.
A pharmacist should be fired if he doesn't want to sell RU486. Simple, it's not his choice IT'S OURS! He should go somewhere else were the majority of folks not buying it think that's ok
Reply:I dont know but maybe I might be a bad muslim or I just think its silly. I work at a store with a deli. And pretty much all of our cold cuts are pork and I've been touching it for a while now. I mean I do have gloves but I dont think people are bringing pigs through the cashier. They need to stop their whining or leave.
Reply:Wtf, why not just put them in a different section? .. Man, I don't even think I've been to a Target with a meat section, or maybe I'm just confused, haha.
Oh, upon rereading that.. refusing to run them through cash registers is lame. I'd fire them, yeah.
Reply:Fire them. Christian pharmacists are required to sell birth control pills because it is a matter of public health. If they don't want to sell the Pill, then they can quit or they'd be fired.
As long as the Muslim cashiers are fired, there is no double standard.
Reply:handlein merchandize is part of the job. if they can't or won't, they should be fired.
Reply:If they did not wish to handle unclean food they should not have applied for the job. Astonishing that any reasoning creature would take a job that offended them.
Would a fundamentalist Christian nurse take a job at an abortion clinic? If she did, would she be entitled to complain when dismissed for nonperformance of the job description?
Some people don't get it, do they?
Reply:I am a Muslim, and I agree with the other Muslims who refuse to touch the pork and eat it of course.
How should Target Stores handle Muslims that refuse to handle pork at the cash register?
Fire them. If the rules offend you get another job. There seems to be more of this happening everyday. It's like they keep pushing....testing us. It's time to take a stand before it gets out of hand.....no other religion gets special treatment..neither should they. Adapt or leave.
Reply:OK settle the confusion bout target selling meat, Target 's store are now remodeling and will start selling a limited amount of grocery's. (milk,eggs,meat,etc etc))the mid-west is a test market.
If the employee refuses to follow the rules, the company has to follow procurer before that employees is fired.
So the store can transfer the empolyee to another dept first then if they still refuse to do thier job then fired them.
Reply:what pork ? What pork does Target sell ? Pork Skins ? Jerky ? .... Haven't Muslims been here for a while ? Why is this all of a sudden a problem ? It's America. If you are going to work in public, you have to adjust.
Reply:muslims can wear latex gloves at a cost of 5 cents per pair,,,,,,,,pharmacists who feel strongly about this aspect of conducting their employers business in good conscience have to ask their employer to not sell ru486,,,,,,,if that dont work,free market principle is to call a bank for a loan,buy a pharmacy,where you dont have to sell ru486,,,,,,,,,,,ditto for the muslim.if latex gloves dont solve the problem,,,,,,go elsewhere,,start a business.
Reply:I think it should be included in the job specifications, and if they can't do it, then they should seek a different career.
When in Rome.. do as the Romans .. not however it suits!
Reply:I agree in principle, but Target is a private company and can do what it wants.
However, I have to say that it shows ignorance of true Islam on the part of the Muslims who refuse to handle pork. Muslims are not supposed to use their religious practices in a way that is discourteous to others; non-Muslims are not required to abstain from pork, and an employee has an obligation to perform the duties for which he/she was hired.
Reply:FIRE THEM.....this is AMERICA. don't try to change us..deport them and stop this B.S...
Reply:Fire them. They were hired to work the registers. They knew the store sold pork and pork products when they took the job. They should have made their objections known before, not after the hiring process.
The problem is that Target stores are owned by the notoriously spineless French. You may recall that Target does not allow the Salvation Army to ring bells outside its stores because it does not want to be perceived as showing a religious bias. Double standard? You bet your burka there is.
So far this is limited to stores in Minnesota but it will spread if successful. You may recall that this same group of Muslims (Somalis) refuses to pick up passengers in Taxis if the passenger violates Islamic law. That is, if they have a wine or alcohol purchase, have the smell of alcohol on them (not necessarily drunk), etc. This also means they refuse to pick up blind persons with seing eye dogs. It makes me sick.
Reply:It is very necessary to know all aspects of a prospective employee's background relative to the work environment. Ask stupid questions and trust me, you will get the real answers you seek.
Some companies ask about religious beliefs up front - and well they should. It would preclude this foolishness.
Why apply for a job and then say, I wont touch this or that? Send them home and don't bow to any ridiculous law suit. If they are refusing to carry out the functions of the job, they are saying in effect, "I do not want to work. I do not want this job." Refusing to work demands firing.
I stopped eating pork a long time ago but I will touch it if I have to. That is not the same as putting it into my mouth.
This is the result of liberalisation. Everybody is demanding all sorts of rights and lefts.
Reply:It's not like Target is forcing them to eat the pork, just ring it up. Also, I don't see the connection btwn touching pork and selling the abortion pill. The abortion pill ends an innocent life and I think any pharmacist who is morally opposed shouldn't be forced to sell it. Handling pork just doesn't compare....imo. No one dies from handling pork...usually
Reply:If they don't want to sell it they can work somewhere where they don't sell meat products. Let someone else have the job that will actually do what the customers ask.
Reply:They were hired to do a specific job, so if they don't comply then they should be fired. There are too many people in this world that are willing to do any job that they can get.
Reply:talk to the store manager,get his/her *** fired
Reply:fire them. they are in a service industry that requires them to treat everybody equal. Non Muslims are not treated equal when they are told they have to get in another line to buy pork.
A pharmacist should be fired if he doesn't want to sell RU486. Simple, it's not his choice IT'S OURS! He should go somewhere else were the majority of folks not buying it think that's ok
Reply:I dont know but maybe I might be a bad muslim or I just think its silly. I work at a store with a deli. And pretty much all of our cold cuts are pork and I've been touching it for a while now. I mean I do have gloves but I dont think people are bringing pigs through the cashier. They need to stop their whining or leave.
Reply:Wtf, why not just put them in a different section? .. Man, I don't even think I've been to a Target with a meat section, or maybe I'm just confused, haha.
Oh, upon rereading that.. refusing to run them through cash registers is lame. I'd fire them, yeah.
Reply:Fire them. Christian pharmacists are required to sell birth control pills because it is a matter of public health. If they don't want to sell the Pill, then they can quit or they'd be fired.
As long as the Muslim cashiers are fired, there is no double standard.
Reply:handlein merchandize is part of the job. if they can't or won't, they should be fired.
Reply:If they did not wish to handle unclean food they should not have applied for the job. Astonishing that any reasoning creature would take a job that offended them.
Would a fundamentalist Christian nurse take a job at an abortion clinic? If she did, would she be entitled to complain when dismissed for nonperformance of the job description?
Some people don't get it, do they?
Reply:I am a Muslim, and I agree with the other Muslims who refuse to touch the pork and eat it of course.
Any more great investment options for cash?
Hello, I am 29, and I have a question. I max out my 401k at work, I do not qualify for IRA's. I have a brokerage account and invest a large amount of money automatically a month to a portfolio of mutual funds. My "emergency" money sits in a money market account drawing around 3.4 percent (average) interest.
So my question is, is there any other really good idea investment options for loose cash? For retirement planning.
Thanks alot!
Any more great investment options for cash?
It sounds like you are in great financial shape. I have one suggestion before I get to the main one.
Look at the mutual funds you are investing in closely.
Do they have a high management fee?
Do they have a sales load?
About 75% of all mutual funds under perform the market. If yours are not outperforming the market, then why keep them?
ETF's are a good alternative. They have an overall lower fee rate on average than mutual funds.
My main suggestion is a DRIP Plan. I have had mine in effect for over 14 years, and have achieved about 10% annual returns.
They are seldom talked about because brokers make very little money when they suggest them. Yet, they have proven to be one of the best, if not the best, long-term strategy on Wall Street.
The best part is you get solid annual returns from well-known, safe Blue Chip companies like: McDonalds, General Electric, Pfizer, Walmart, US Bancorp.......etc........
They are inexpensive to start and maintain, and your dividends are reinvested for free.
They are perfect for small investors, as well as big investors. They are safe and allow you to not care about whether the market is going up or down.
It appears as if you know what you are doing. Look at all the suggestions closely. My DRIP Plan has been great.
Good Luck
Reply:You could always just put it in some kind of online savings account and draw interest. ING has a decent interest rate - last time I checked around 4.9%.
Reply:To balance out your paper investments with real money, as a hedge against inflation buy silver ingots or American Silver Eagle Coins (non-proofs). Or $5,000.00 Certificate of Deposits based on silver prices from www.everbank.com the number one rated bank by Forbes Magazine.
Reply:I keep my cash in an E*Trade savings account with 4.10% APY.
WaMu online savings also has online savings account at 4.00% APY.
Both have no fees, $1 minimums, free ingoing and outgoing ACH transfers, just very convenient.
No risk, and FDIC insured is always nice.
Rates used to be a bit above 5% a few months ago before Fed started slashing but still 4% for idle money isn't bad and online transfers to external accounts makes quick access simple.
Reply:You don't say How Much.................
Take a look at bridge loans..you being the loaner..........pretty good return..............there are groups who manage this........
Reply:Try opening up your own personal stock account. You can't MAX out one of those. Also you should learn to invest yourself. Chances are you'll do better than whoever is mannaging your account for you.
Here is a great website to learn how to trade.
Reply:except to risk factor, investment in stock market is as liquid as moone in Bank.
one strategy is to keep part in equity part in cash and when equity falls, cash can be pumped in to equity to average the value of share.
there are similar lot of ways and you should choose best that you can understand and apply
Reply:Hi,
ING for some cash and Brazil for investment-( if you can afford a little speculation. See www.moneyrec.com
Good Luck
Grace
Reply:I had the same problem as you have.
I had a good amount of money, but didn't knew where to invest it.
So I looked around for something that gave me a great return towards a low risk.
And the only thing I could find was a mannaged account.
Here you can follow up my results of every day:
http://my-robottrader.blogspot.com/
I'm verry excited because I already have 51% ROI in Two months time.
My moneymannager is giving me great support, and answer all of my questions almost immediatly.
Annyway feel free to contact me (adress on my blog) and I'll bring you in direct contact with my money mannager.
Reply:No disrespect to "MoneyMon" with this next comment. I am just trying to be helpful.
I would stay clear of Prosper.com, unless you just want to donate some money to an individual.
Prosper has a much higher default rate than they advertise. They do not have any mechanism in place to go after people who default on their loans. And the finance charges you pay to help somebody with a loan, are to high.
Personally, If i had extra cash, I would invest in ETF's or DRIP Plan.
As your other respondent said, mutual funds have become to heavy with fees. And their performance is not always on par. Of course there are still good ones, but overall, I would use ETF's.
You are in a good position. Too much cash on hand. I wish I had that problem.
Reply:If you're maxing out all your investment and retirement needs for your future, and have a good six months of cash in your money market account for emergencies ... how about giving.
One way to give without actually giving it all away permanently is to get involved in microlending. Kiva.org, Prosper, LendingClub, or other international mirco-finance agencies.
The "rewards" on giving generously are not always measured by money. You could even put money in a charitable trust.
So my question is, is there any other really good idea investment options for loose cash? For retirement planning.
Thanks alot!
Any more great investment options for cash?
It sounds like you are in great financial shape. I have one suggestion before I get to the main one.
Look at the mutual funds you are investing in closely.
Do they have a high management fee?
Do they have a sales load?
About 75% of all mutual funds under perform the market. If yours are not outperforming the market, then why keep them?
ETF's are a good alternative. They have an overall lower fee rate on average than mutual funds.
My main suggestion is a DRIP Plan. I have had mine in effect for over 14 years, and have achieved about 10% annual returns.
They are seldom talked about because brokers make very little money when they suggest them. Yet, they have proven to be one of the best, if not the best, long-term strategy on Wall Street.
The best part is you get solid annual returns from well-known, safe Blue Chip companies like: McDonalds, General Electric, Pfizer, Walmart, US Bancorp.......etc........
They are inexpensive to start and maintain, and your dividends are reinvested for free.
They are perfect for small investors, as well as big investors. They are safe and allow you to not care about whether the market is going up or down.
It appears as if you know what you are doing. Look at all the suggestions closely. My DRIP Plan has been great.
Good Luck
Reply:You could always just put it in some kind of online savings account and draw interest. ING has a decent interest rate - last time I checked around 4.9%.
Reply:To balance out your paper investments with real money, as a hedge against inflation buy silver ingots or American Silver Eagle Coins (non-proofs). Or $5,000.00 Certificate of Deposits based on silver prices from www.everbank.com the number one rated bank by Forbes Magazine.
Reply:I keep my cash in an E*Trade savings account with 4.10% APY.
WaMu online savings also has online savings account at 4.00% APY.
Both have no fees, $1 minimums, free ingoing and outgoing ACH transfers, just very convenient.
No risk, and FDIC insured is always nice.
Rates used to be a bit above 5% a few months ago before Fed started slashing but still 4% for idle money isn't bad and online transfers to external accounts makes quick access simple.
Reply:You don't say How Much.................
Take a look at bridge loans..you being the loaner..........pretty good return..............there are groups who manage this........
Reply:Try opening up your own personal stock account. You can't MAX out one of those. Also you should learn to invest yourself. Chances are you'll do better than whoever is mannaging your account for you.
Here is a great website to learn how to trade.
Reply:except to risk factor, investment in stock market is as liquid as moone in Bank.
one strategy is to keep part in equity part in cash and when equity falls, cash can be pumped in to equity to average the value of share.
there are similar lot of ways and you should choose best that you can understand and apply
Reply:Hi,
ING for some cash and Brazil for investment-( if you can afford a little speculation. See www.moneyrec.com
Good Luck
Grace
Reply:I had the same problem as you have.
I had a good amount of money, but didn't knew where to invest it.
So I looked around for something that gave me a great return towards a low risk.
And the only thing I could find was a mannaged account.
Here you can follow up my results of every day:
http://my-robottrader.blogspot.com/
I'm verry excited because I already have 51% ROI in Two months time.
My moneymannager is giving me great support, and answer all of my questions almost immediatly.
Annyway feel free to contact me (adress on my blog) and I'll bring you in direct contact with my money mannager.
Reply:No disrespect to "MoneyMon" with this next comment. I am just trying to be helpful.
I would stay clear of Prosper.com, unless you just want to donate some money to an individual.
Prosper has a much higher default rate than they advertise. They do not have any mechanism in place to go after people who default on their loans. And the finance charges you pay to help somebody with a loan, are to high.
Personally, If i had extra cash, I would invest in ETF's or DRIP Plan.
As your other respondent said, mutual funds have become to heavy with fees. And their performance is not always on par. Of course there are still good ones, but overall, I would use ETF's.
You are in a good position. Too much cash on hand. I wish I had that problem.
Reply:If you're maxing out all your investment and retirement needs for your future, and have a good six months of cash in your money market account for emergencies ... how about giving.
One way to give without actually giving it all away permanently is to get involved in microlending. Kiva.org, Prosper, LendingClub, or other international mirco-finance agencies.
The "rewards" on giving generously are not always measured by money. You could even put money in a charitable trust.
When is the best time to cash in life insurance?
I have a small policy so my sister and nephew do not get stuck with my burial expenses. I do not want my creditors to find out about it and suck it up dry. Should the beneficiaries cash it immediately upon my death, or wait a certain amount of time for my creditors to write my debt off?
When is the best time to cash in life insurance?
to the best of my knowledge, life insurance proceeds are NOT subject to being taken for payment of debts, but it is best to check with the insurance agent and a financial specialist who can research the law in your state.
Reply:If creditors are coming after you and filing suit against you or you have filed for bankruptcy, the cash value may be fair game to creditors now...
Upon death, the death benefit would pass to your beneficiaries and not be subject to creditors.
Reply:?? Your creditors can't ACCESS the life insurance procedes, unless you make YOUR ESTATE the beneficiary. Once that life policy pays your sister, it's HER money, and SHE is NOT responsible for your debts. She can tell the creditors to go pound sand.
The beneficiaries should put in the claim immediately, so they have the money to pay for your burial expenses.
Reply:Your creditors can't touch the life insurance, as said above.
It should probably be noted that many states allow for a clause in life insurance policies that voids them in the case of suicide of the insured.
Reply:When you die!
human teeth
When is the best time to cash in life insurance?
to the best of my knowledge, life insurance proceeds are NOT subject to being taken for payment of debts, but it is best to check with the insurance agent and a financial specialist who can research the law in your state.
Reply:If creditors are coming after you and filing suit against you or you have filed for bankruptcy, the cash value may be fair game to creditors now...
Upon death, the death benefit would pass to your beneficiaries and not be subject to creditors.
Reply:?? Your creditors can't ACCESS the life insurance procedes, unless you make YOUR ESTATE the beneficiary. Once that life policy pays your sister, it's HER money, and SHE is NOT responsible for your debts. She can tell the creditors to go pound sand.
The beneficiaries should put in the claim immediately, so they have the money to pay for your burial expenses.
Reply:Your creditors can't touch the life insurance, as said above.
It should probably be noted that many states allow for a clause in life insurance policies that voids them in the case of suicide of the insured.
Reply:When you die!
human teeth
Is interest paid for credit card cash advance tax deductible as investmentment interest?
I used a low APR cash advance to invest in a stock.
Is interest paid for credit card cash advance tax deductible as investmentment interest?
No, that would not be deductible. You must take out a loan for the express purpose of purchasing an investment. The deduction is primarily intended for margin accounts but a loan that pledges the investment as security would be deductible. A credit card cash advance would not be deductible since it cannot be tied to the investment.
Reply:According to the interest tracing rules, this interest is deductible as investment interest. This is assuming that you literally used the proceeds of the cash advance to purchase the stock. There is no requirement that investment interest be secured by the investment. (Qualified home mortgage interest must be secured by the home, but that is a different animal.)
Assuming that your credit card debt does NOT get paid off, you will need to keep track of the stock you purchased with the loan. If you sell the stock and do not use the proceeds to purchase another investment, the credit card debt will become nondeductible personal interest from that point forward.
Investment interest paid is only deductible to the extent that you have investment income during the year. The portion that is not deducted gets carried forward to following years. The portion that is deductible gets carried to Schedule A, Itemized Deductions, and is limited by those rules.
The link below is to Form 4952, Investment Interest Expense Deduction.
Incidentally, margin interest is NOT automatically deductible as investment interest. If, for example, you use a margin loan in your brokerage account to purchase a cruise, that interest is personal, nondeductible interest.
Is interest paid for credit card cash advance tax deductible as investmentment interest?
No, that would not be deductible. You must take out a loan for the express purpose of purchasing an investment. The deduction is primarily intended for margin accounts but a loan that pledges the investment as security would be deductible. A credit card cash advance would not be deductible since it cannot be tied to the investment.
Reply:According to the interest tracing rules, this interest is deductible as investment interest. This is assuming that you literally used the proceeds of the cash advance to purchase the stock. There is no requirement that investment interest be secured by the investment. (Qualified home mortgage interest must be secured by the home, but that is a different animal.)
Assuming that your credit card debt does NOT get paid off, you will need to keep track of the stock you purchased with the loan. If you sell the stock and do not use the proceeds to purchase another investment, the credit card debt will become nondeductible personal interest from that point forward.
Investment interest paid is only deductible to the extent that you have investment income during the year. The portion that is not deducted gets carried forward to following years. The portion that is deductible gets carried to Schedule A, Itemized Deductions, and is limited by those rules.
The link below is to Form 4952, Investment Interest Expense Deduction.
Incidentally, margin interest is NOT automatically deductible as investment interest. If, for example, you use a margin loan in your brokerage account to purchase a cruise, that interest is personal, nondeductible interest.
How to get a good deal on buying a car with cash?
I would like to purchase a vehicle with cash and I want to get the best deal I can get, what technique should I use to get what I want. Also because I currently have this money in the bank and I'm looking to purchase a vehicle for more than $10,000's, what is the process of withdrawing this amount of money from my bank?
How to get a good deal on buying a car with cash?
Never show emotion.
Tell them you pay cash in full.
Take the MSRP of the car/cars new or used.
Multiply by 70% that would be the wholesale price of the car.
Multiply that by 112.5% (that would be 12.5% for the dealers overhead and profit)
And there you have the best price that you could buy a car from a dealer for..................
What I do is write the number (my price) on a business card and tell them if they want to sell the car or truck call me.
I have bought over a dozen cars some for myself as well as friends and it works every time.
Remember dont show emotion and you may have some salesman tell you that you are crazy - but dont listen just give them the business card or scratch paper with your number and price and tell them to call you if they want to sell.
What you are doing is breaking into the holdback profit that the manufacture pays the dealer. The invoice is a charade
dont believe the salesman that your price is under invoice.
Just give him your number and tell him to call.
try it. !
If you are buying a used car just find the MSRP for that make and model of that year and do the math as above but also reduce the price buy .40 cents per mile that is on the odometer.
It works with any car, any year and any make.
Some here say this will never work but I assure you I have done it many times.
Cash is king here and it is saying that no one has to do the finance paperwork and dealers are looking for volume as this lowers their overhead.
With this technique you are chopping at the holdback profit that manufactures pay the dealer to sell cars.
Dont waiver and go to a few different delers with this technique.
Jock
Reply:First of all, dealers do not care if a customer has cash or financing for a car. (They actually prefer finance) So leave the money in the bank, go find a car and work the deal, give them a deposit, then go to the bank and get a cashiers check for the correct amount. (The art of the negotiating is not about the cash)
Reply:The method of payment should be the last thing discussed (if buying from a dealer). As far as the bank goes...have them cut you a cashier's check instead of getting cash. That way, if the check is lost or stolen, the bank can stop payment on the check and your money will be safe. Good luck on your purchase.
Reply:Tell the car dealer to take off all the unnecessary fees, such as dealer fees. I think the bank might have to put a hold on a withdrawal of an amount over 10,000 dollars so it may take up to a week for the check to be cleared
Reply:If you can afford to pay that much in cash for a car, you should go to a car auction where you can get a cheaper deal than you would at a dealership. They usually ask for cashier's checks from you bank.
Reply:Get someone to go with you that knows how to deal with them.
After you find the car you want, bring the money with you, let them see it, and pay nothing less than 75% of what thier price was.
How to get a good deal on buying a car with cash?
Never show emotion.
Tell them you pay cash in full.
Take the MSRP of the car/cars new or used.
Multiply by 70% that would be the wholesale price of the car.
Multiply that by 112.5% (that would be 12.5% for the dealers overhead and profit)
And there you have the best price that you could buy a car from a dealer for..................
What I do is write the number (my price) on a business card and tell them if they want to sell the car or truck call me.
I have bought over a dozen cars some for myself as well as friends and it works every time.
Remember dont show emotion and you may have some salesman tell you that you are crazy - but dont listen just give them the business card or scratch paper with your number and price and tell them to call you if they want to sell.
What you are doing is breaking into the holdback profit that the manufacture pays the dealer. The invoice is a charade
dont believe the salesman that your price is under invoice.
Just give him your number and tell him to call.
try it. !
If you are buying a used car just find the MSRP for that make and model of that year and do the math as above but also reduce the price buy .40 cents per mile that is on the odometer.
It works with any car, any year and any make.
Some here say this will never work but I assure you I have done it many times.
Cash is king here and it is saying that no one has to do the finance paperwork and dealers are looking for volume as this lowers their overhead.
With this technique you are chopping at the holdback profit that manufactures pay the dealer to sell cars.
Dont waiver and go to a few different delers with this technique.
Jock
Reply:First of all, dealers do not care if a customer has cash or financing for a car. (They actually prefer finance) So leave the money in the bank, go find a car and work the deal, give them a deposit, then go to the bank and get a cashiers check for the correct amount. (The art of the negotiating is not about the cash)
Reply:The method of payment should be the last thing discussed (if buying from a dealer). As far as the bank goes...have them cut you a cashier's check instead of getting cash. That way, if the check is lost or stolen, the bank can stop payment on the check and your money will be safe. Good luck on your purchase.
Reply:Tell the car dealer to take off all the unnecessary fees, such as dealer fees. I think the bank might have to put a hold on a withdrawal of an amount over 10,000 dollars so it may take up to a week for the check to be cleared
Reply:If you can afford to pay that much in cash for a car, you should go to a car auction where you can get a cheaper deal than you would at a dealership. They usually ask for cashier's checks from you bank.
Reply:Get someone to go with you that knows how to deal with them.
After you find the car you want, bring the money with you, let them see it, and pay nothing less than 75% of what thier price was.
When leasing a new car with cash back incentives, will the dealership usually lower $ additionally?
Currently I want to lease a car with $3400 cash back, and I know there is a markup on cars. How much can I haggle in additional to this?
When leasing a new car with cash back incentives, will the dealership usually lower $ additionally?
Keep in mind rebates come from the Manufacturer, so if there is a $3,400 rebate, you can still negotiate off the price of the car. I would not advise trying to negotiate into hold-back because that's what keeps the dealership running and no credible dealership would sell into hold-back unless it's a demo or leftover model.
Edmunds.com will show you the invoice, so if you get a few hundred over invoice plus rebates, you're getting a fair price and the dealership is making a little money. This makes for a better experience for both of you and can help when you are in service getting an oil change. I know many sales associates who lend out their Demo to a few customers if they wanted to grab a bite to eat while they wait. Your ownership experience should account for something. I hope this helps and you can also email me if you have any questions.
Reply:Check Edmunds.com to see what the invoice is. There may also be something called a holdback that is a manufacturer to dealer incentive that may also lower the price. This is how you can buy cars under invoice. make them an offer that is way under invoice and negotiate from there.
When leasing a new car with cash back incentives, will the dealership usually lower $ additionally?
Keep in mind rebates come from the Manufacturer, so if there is a $3,400 rebate, you can still negotiate off the price of the car. I would not advise trying to negotiate into hold-back because that's what keeps the dealership running and no credible dealership would sell into hold-back unless it's a demo or leftover model.
Edmunds.com will show you the invoice, so if you get a few hundred over invoice plus rebates, you're getting a fair price and the dealership is making a little money. This makes for a better experience for both of you and can help when you are in service getting an oil change. I know many sales associates who lend out their Demo to a few customers if they wanted to grab a bite to eat while they wait. Your ownership experience should account for something. I hope this helps and you can also email me if you have any questions.
Reply:Check Edmunds.com to see what the invoice is. There may also be something called a holdback that is a manufacturer to dealer incentive that may also lower the price. This is how you can buy cars under invoice. make them an offer that is way under invoice and negotiate from there.
Where can I cash a Western Union Money Order in the UK?
Hello
I got paid for an item on eBay with a Western Union Check / Money Order type thing and I'm wondering where to cash it? Ive tried Western Union outlets such as Cash Converters and othe rplaces, but all are pleading ignorance. Even tried Lloyds Bank today but they dont know.
Anyone any ideas?
Where can I cash a Western Union Money Order in the UK?
The following is an extract from the W/Union website, below.......Receiving in United Kingdom:
Maximum principal pay out amount is $10.000 US dollars or local equivalent per person, per day.
Pay outs may be provided by check if an Agent has insufficient cash. Checks can be cashed at Lloyds TSB Banks from 0900-1530.
Receivers must present an acceptable documentary evidence of identity.
For pay outs of £2,000 and over, receivers must present 2 acceptable documents showing evidence of identity. (see details below).
Test Question is not available for pay out in United Kingdom.
Reply:I can give you a link that explains Western Western Union is one of the oldest and largest money transfer networks worldwide. It is one the safest way to receive money since it is not possible to reverse the transaction, especially if the amount is received in cash. More details available at
http://www.money-transfer.in/westernunio...
Check this out for your information.
Reply:Would read this, before having dealings with W,U
http://news.bbc.co.uk/1/hi/business/4338...
Reply:Going Places travel agents
Reply:in all Barclays PLC offices
Reply:have you tried Post Office?
at least in my country this is where I get WU transfers.
student loan
I got paid for an item on eBay with a Western Union Check / Money Order type thing and I'm wondering where to cash it? Ive tried Western Union outlets such as Cash Converters and othe rplaces, but all are pleading ignorance. Even tried Lloyds Bank today but they dont know.
Anyone any ideas?
Where can I cash a Western Union Money Order in the UK?
The following is an extract from the W/Union website, below.......Receiving in United Kingdom:
Maximum principal pay out amount is $10.000 US dollars or local equivalent per person, per day.
Pay outs may be provided by check if an Agent has insufficient cash. Checks can be cashed at Lloyds TSB Banks from 0900-1530.
Receivers must present an acceptable documentary evidence of identity.
For pay outs of £2,000 and over, receivers must present 2 acceptable documents showing evidence of identity. (see details below).
Test Question is not available for pay out in United Kingdom.
Reply:I can give you a link that explains Western Western Union is one of the oldest and largest money transfer networks worldwide. It is one the safest way to receive money since it is not possible to reverse the transaction, especially if the amount is received in cash. More details available at
http://www.money-transfer.in/westernunio...
Check this out for your information.
Reply:Would read this, before having dealings with W,U
http://news.bbc.co.uk/1/hi/business/4338...
Reply:Going Places travel agents
Reply:in all Barclays PLC offices
Reply:have you tried Post Office?
at least in my country this is where I get WU transfers.
student loan
Why would someone sell a positive cash flow real estate?
I don't understand why someone would sell a positive cash flow real estate. I found a whole bunch of properties. Some of them have tenants already inside.
What should I be weary about? What should I look for?
Why would someone sell a positive cash flow real estate?
The investor may have other cash needs outside of that piece of real estate. An investment property requires a certain amount of equity and can be hard to refinance. Sometimes, selling it is the only way to get to your equity.
If you can buy properties with postive cash flow, go for it!
Good luck.
Reply:The market is bad right now and might get worse. It's complicated to have a tenant.
One person I heard of bought a house to use as a rental. The value of the house went down and now his mortgage is more than the house is worth. He wants to sell to cut his losses but it isn't possible to do with the tenant in the house. The tenant has enough money to buy a house but says he'd prefer to rent.
If he kicks the tenant out of the house, he'll have a better chance of selling the house but he'll be without the monthly rent payments and he'll have the monthly mortgage to pay. And there's no way of knowing how long it'll take for the house to sell.
So it can get complicated like that if you have mortgage payments. You need to have good renters and find new ones quickly. You'll get a lot of bs from some renters when it comes to rent payments. Always do a criminal background check and credit report. There are property managers who can take care of things but that eats into your money.
Reply:because they know something you dont. get a home inspection. check to see if tenants have leases. as a landlord you need to be preapred for everything, especially the unexpected. if your tenents split and you have no income, you better be able to cover the mortgage or you will find yourself in the same boat as thousands of americans
Reply:Market is bad, they may want out. There doesn't necessarily need to be a valid reason. If it's good take it!
What should I be weary about? What should I look for?
Why would someone sell a positive cash flow real estate?
The investor may have other cash needs outside of that piece of real estate. An investment property requires a certain amount of equity and can be hard to refinance. Sometimes, selling it is the only way to get to your equity.
If you can buy properties with postive cash flow, go for it!
Good luck.
Reply:The market is bad right now and might get worse. It's complicated to have a tenant.
One person I heard of bought a house to use as a rental. The value of the house went down and now his mortgage is more than the house is worth. He wants to sell to cut his losses but it isn't possible to do with the tenant in the house. The tenant has enough money to buy a house but says he'd prefer to rent.
If he kicks the tenant out of the house, he'll have a better chance of selling the house but he'll be without the monthly rent payments and he'll have the monthly mortgage to pay. And there's no way of knowing how long it'll take for the house to sell.
So it can get complicated like that if you have mortgage payments. You need to have good renters and find new ones quickly. You'll get a lot of bs from some renters when it comes to rent payments. Always do a criminal background check and credit report. There are property managers who can take care of things but that eats into your money.
Reply:because they know something you dont. get a home inspection. check to see if tenants have leases. as a landlord you need to be preapred for everything, especially the unexpected. if your tenents split and you have no income, you better be able to cover the mortgage or you will find yourself in the same boat as thousands of americans
Reply:Market is bad, they may want out. There doesn't necessarily need to be a valid reason. If it's good take it!
How much weight does a cash deposit reciept hold in the eyes of the law, how do I get my cash deposit back?
I payed $2000 cash as a deposit for a car to a mates' dad, I've lost my job and need my cash back! He said unlucky as I have broken our agreement and have lost my deposit as he could have sold the car long ago but was holding the car for me.
How much weight does a cash deposit reciept hold in the eyes of the law, how do I get my cash deposit back?
IF YOUR CONTRACT STATES THAT ANY AND ALL DEPOSITS ARE NON-REFUNDABLE THEN IT WOULD BE PRETTY HARD TO GET IT BACK.
IF NOT YOU HAVE A VERY GOOD CHANCE TO RECOVER SOME IF NOT ALL OF YOUR MONEY THROUGH THE SMALL CLAIMS COURT SYSTEM.
THE REASON IS SIMPLE, IF THE SELLER WAS DAMAGED BY WHAT YOU DID TO HIM "AND FORGET ABOUT YOUR JOB", BUT HE MAYBE LOST OUT BECAUSE SOMEONE ELSE WANTED TO BY THIS VEHICLE BUT COULD NOT BECAUSE OF THIS DEPOSIT, THEN YOU WOULD BE ENTITLED TO SOME OF THE MONEY.
IF SOMEONE HAS BOUGHT THE VEHICLE AND HE WAS NOT DAMAGED THEN HE WOULD HAVE TO GIVE YOU BACK THE MONEY LESS ANY ADVERTISING FEES THAT THE SELLER MIGHT BE OUT.
WHAT YOU WILL NEED TO FIND OUT IS, HAS THE VEHICLE BEEN SOLD, WHEN IT WAS SOLD AND WHAT PRICE IT WAS SOLD FOR, YOU WILL NEED TO HAVE ANY CONTRACTS THAT MAY HAVE BEEN SIGNED AND ANY RECEIPTS AND ANY ADVERTISEMENTS THAT THE SELLER HAS PUT IN THE PAPER.
WHAT THE COURT SYSTEM WILL DO IS ONLY MAKE THE SELLER WHOLE AGAIN BUT THE SELLER CANNOT SELL THE VEHICLE PLUS KEEP YOUR DEPOSIT IF HE SOLD IT FOR THE SAME AMOUNT THAT YOU AGREED ON HE WOULD THEN BE IN A PLUS SITUATION AND THAT IS UNACCEPTABLE.
GOOD LUCK
Reply:He ( I assume the car dealer ) is full of it, but the proof is in the contract that you signed with the dealer. He could be a nice guy, after all, if he could have sold the car before, he should be able to sell it now.
Reply:The only way to get your money back is to take him to small claims court. File a lawsuit against him.
He has no grounds for keeping your deposit. He can give you your money back and still sell the car.
Reply:There's no way to get it without some written contract that would allow you to return the car within a certain time period to get a full refund. Sorry to hear about you losing your job. Your mates Dad should atleast give you some so you can get by.
How much weight does a cash deposit reciept hold in the eyes of the law, how do I get my cash deposit back?
IF YOUR CONTRACT STATES THAT ANY AND ALL DEPOSITS ARE NON-REFUNDABLE THEN IT WOULD BE PRETTY HARD TO GET IT BACK.
IF NOT YOU HAVE A VERY GOOD CHANCE TO RECOVER SOME IF NOT ALL OF YOUR MONEY THROUGH THE SMALL CLAIMS COURT SYSTEM.
THE REASON IS SIMPLE, IF THE SELLER WAS DAMAGED BY WHAT YOU DID TO HIM "AND FORGET ABOUT YOUR JOB", BUT HE MAYBE LOST OUT BECAUSE SOMEONE ELSE WANTED TO BY THIS VEHICLE BUT COULD NOT BECAUSE OF THIS DEPOSIT, THEN YOU WOULD BE ENTITLED TO SOME OF THE MONEY.
IF SOMEONE HAS BOUGHT THE VEHICLE AND HE WAS NOT DAMAGED THEN HE WOULD HAVE TO GIVE YOU BACK THE MONEY LESS ANY ADVERTISING FEES THAT THE SELLER MIGHT BE OUT.
WHAT YOU WILL NEED TO FIND OUT IS, HAS THE VEHICLE BEEN SOLD, WHEN IT WAS SOLD AND WHAT PRICE IT WAS SOLD FOR, YOU WILL NEED TO HAVE ANY CONTRACTS THAT MAY HAVE BEEN SIGNED AND ANY RECEIPTS AND ANY ADVERTISEMENTS THAT THE SELLER HAS PUT IN THE PAPER.
WHAT THE COURT SYSTEM WILL DO IS ONLY MAKE THE SELLER WHOLE AGAIN BUT THE SELLER CANNOT SELL THE VEHICLE PLUS KEEP YOUR DEPOSIT IF HE SOLD IT FOR THE SAME AMOUNT THAT YOU AGREED ON HE WOULD THEN BE IN A PLUS SITUATION AND THAT IS UNACCEPTABLE.
GOOD LUCK
Reply:He ( I assume the car dealer ) is full of it, but the proof is in the contract that you signed with the dealer. He could be a nice guy, after all, if he could have sold the car before, he should be able to sell it now.
Reply:The only way to get your money back is to take him to small claims court. File a lawsuit against him.
He has no grounds for keeping your deposit. He can give you your money back and still sell the car.
Reply:There's no way to get it without some written contract that would allow you to return the car within a certain time period to get a full refund. Sorry to hear about you losing your job. Your mates Dad should atleast give you some so you can get by.
Why is a cash flow statement prepared for forecasted results and not on actuals like sources and applications?
What is the difference between sources and application of funds statements and cash flows statements. Why can't a cash flow statement be prepared for the actuals and not on the forecasted results
Why is a cash flow statement prepared for forecasted results and not on actuals like sources and applications?
It depends on whether it is an actual cash flow statement or a forecasted cash flow statement. If you are trying to estimate the net present value of a company by calculating future cash flows, of course you will use forecasted future figures of sales etc. depending on how you estimate growth is going to be like. However, forecasted figures are also based on actual figures e.g. future sales are forecasted based not only on economic predictions but the past growth patterns.
Why is a cash flow statement prepared for forecasted results and not on actuals like sources and applications?
It depends on whether it is an actual cash flow statement or a forecasted cash flow statement. If you are trying to estimate the net present value of a company by calculating future cash flows, of course you will use forecasted future figures of sales etc. depending on how you estimate growth is going to be like. However, forecasted figures are also based on actual figures e.g. future sales are forecasted based not only on economic predictions but the past growth patterns.
When a car dealership offers a cash allowance as an incentive, what exactly are the benefits?
In other words, what is a 'cash allowance'? And, would it be helpful in purchasing a car?
When a car dealership offers a cash allowance as an incentive, what exactly are the benefits?
I am a dealer. The factory will sometimes make a cash incentive available to the customer to sell more vehicles. The sticker price on the car does not change. You can choose to apply the incentive to the purchase price of the car or you can buy the car and get the cash in the form of a check sent to you. The incentive does not cost the dealer anything, it is offered by the factory. For example: you purchase a car with a sticker price of $20,000 from a dealer for $17,800. If the car has a $1000 cash incentive, you can apply the incentive to the down payment of the car or get a check for the incentive after the purchase. Where most confusion comes into play is in advertising. When a dealer advertises a vehicle for a really cheap price it always has any and all cash incentives applied to the price as advertised. Always check the small print at the end of the ad. Hope this helps - Gary
Reply:Feel confident in when I say that all new vehicles are regulated in pricing by a law that was passed years ago to keep dealers from charging whatever they wanted to......they don't have to sell it to you at the sticker price....some really "hot" cars are sometimes amended with a "Market Adjustment"......a Shelby Cobra GT we had sold for $15000 over the sticker price......the "cash allowance" is most of the time called a "rebate" and comes from the manufacturer....not the the dealer and it is your discount to take......not up to the Dealer (not to say that they may not try to hide it from you).......ask for the amounts of all "national" rebates......for any loyalty rebates that you might be entitled to.....any special rebates because of where you work or maybe a student rebate.....are there any "dealer cash incentives" that might help you get a lower price.....ask all of these questions and work the absolute best price you can get.....check EDMUNDS.COM for a guide.....it will give you the invoice cost and a TRUE MARKET VALUE of the vehicle you are looking at.....NEVER..NEVER...NEVER work payments with the salesperson....."rule of thumb" $20 per thousand will give you a good idea of what the payments will be at.......$20,000 vehicle figures about $400....if you are looking for $200...forget it ...no way!!!.....when you think it is down to the best price......leave the dealership and go check with Edmunds to make sure you are not overpaying......best way is to go after hours....write all of the options on the one that you like and research that before you go in.....then tell them what you will pay......"No we can"t" ....then walk out!!!.....don't be unrealistic or a jerk!!.....be fair with the Edmunds guide and you will get a good deal........the guide will not tell you about loyalty rebates......check this out especially if you are going from same brand or make......good luck!!!....rambled a little from the question but hope this helped!!
Reply:basically they give you lets say $2,000 cash, but what you dont know is the car is priced $2,000 above what it should be. The incentive is you have $2,000 in your wallet, which is nice, but you also paid $22,000 for a $20,000 car... thats what i think anyway.
Reply:Dealership cash could be one of two things. If it is offered directly from the factory, and almost everywhere else you go to purchase that new vehicle, you will get that factory incentive. (there are very few dealerships that do NOT participate in those programs) If say the dealership sent you a "coupon" for a certain amount to be taken off a purchase, chances are they have upped the price on those vehicles to make up for the check they are offering you off. You may save a little money, but certainly not the full check amount. They could be offering it only on certain vehicles that they want to get out of their inventory. You may get a bargain there, but you may not. There may be manufacturer's out there that actually offer the customer the cash back, but the majority of any rebates/incentives, customer cash is taken off the price of the car.
dog teeth
When a car dealership offers a cash allowance as an incentive, what exactly are the benefits?
I am a dealer. The factory will sometimes make a cash incentive available to the customer to sell more vehicles. The sticker price on the car does not change. You can choose to apply the incentive to the purchase price of the car or you can buy the car and get the cash in the form of a check sent to you. The incentive does not cost the dealer anything, it is offered by the factory. For example: you purchase a car with a sticker price of $20,000 from a dealer for $17,800. If the car has a $1000 cash incentive, you can apply the incentive to the down payment of the car or get a check for the incentive after the purchase. Where most confusion comes into play is in advertising. When a dealer advertises a vehicle for a really cheap price it always has any and all cash incentives applied to the price as advertised. Always check the small print at the end of the ad. Hope this helps - Gary
Reply:Feel confident in when I say that all new vehicles are regulated in pricing by a law that was passed years ago to keep dealers from charging whatever they wanted to......they don't have to sell it to you at the sticker price....some really "hot" cars are sometimes amended with a "Market Adjustment"......a Shelby Cobra GT we had sold for $15000 over the sticker price......the "cash allowance" is most of the time called a "rebate" and comes from the manufacturer....not the the dealer and it is your discount to take......not up to the Dealer (not to say that they may not try to hide it from you).......ask for the amounts of all "national" rebates......for any loyalty rebates that you might be entitled to.....any special rebates because of where you work or maybe a student rebate.....are there any "dealer cash incentives" that might help you get a lower price.....ask all of these questions and work the absolute best price you can get.....check EDMUNDS.COM for a guide.....it will give you the invoice cost and a TRUE MARKET VALUE of the vehicle you are looking at.....NEVER..NEVER...NEVER work payments with the salesperson....."rule of thumb" $20 per thousand will give you a good idea of what the payments will be at.......$20,000 vehicle figures about $400....if you are looking for $200...forget it ...no way!!!.....when you think it is down to the best price......leave the dealership and go check with Edmunds to make sure you are not overpaying......best way is to go after hours....write all of the options on the one that you like and research that before you go in.....then tell them what you will pay......"No we can"t" ....then walk out!!!.....don't be unrealistic or a jerk!!.....be fair with the Edmunds guide and you will get a good deal........the guide will not tell you about loyalty rebates......check this out especially if you are going from same brand or make......good luck!!!....rambled a little from the question but hope this helped!!
Reply:basically they give you lets say $2,000 cash, but what you dont know is the car is priced $2,000 above what it should be. The incentive is you have $2,000 in your wallet, which is nice, but you also paid $22,000 for a $20,000 car... thats what i think anyway.
Reply:Dealership cash could be one of two things. If it is offered directly from the factory, and almost everywhere else you go to purchase that new vehicle, you will get that factory incentive. (there are very few dealerships that do NOT participate in those programs) If say the dealership sent you a "coupon" for a certain amount to be taken off a purchase, chances are they have upped the price on those vehicles to make up for the check they are offering you off. You may save a little money, but certainly not the full check amount. They could be offering it only on certain vehicles that they want to get out of their inventory. You may get a bargain there, but you may not. There may be manufacturer's out there that actually offer the customer the cash back, but the majority of any rebates/incentives, customer cash is taken off the price of the car.
dog teeth
How to make alil extra holiday cash at home?
Im straped this year and i have seen ads for alil extra cash during holidays... does anyone have the links?
How to make alil extra holiday cash at home?
eBay dude. It's the only legit work from home thing out there. I make a lot of money but you have to have someone teach you how to do it correctly so you really can make money.
Reply:Try Cashcrate(google it),not a bad gtp program.
would be nice to use this link /407106
Reply:Have you ever tryed online surveys I make extra cash for my home email me and I'll send you a link ( everything is FREE)
How to make alil extra holiday cash at home?
eBay dude. It's the only legit work from home thing out there. I make a lot of money but you have to have someone teach you how to do it correctly so you really can make money.
Reply:Try Cashcrate(google it),not a bad gtp program.
would be nice to use this link /407106
Reply:Have you ever tryed online surveys I make extra cash for my home email me and I'll send you a link ( everything is FREE)
How much does it cost to lease a new mustang also how much cash down?
Hey im thinking about leasing a new mustang, im not sure which one yet so If you know for sure how much it costs to lease ANY mustang model or how much cash you need up front for it.
Thanks
How much does it cost to lease a new mustang also how much cash down?
The cost of a lease will depend on the negotiated selling price on which the lease is based, the number of miles you plan to drive, your down payment, if any, how many months you want to lease, the lease rate (like interest rate), your credit score, the estimated lease-end resale (residual) value.
You'll need some cash up front: down payment (if any), security deposit (if the lease company requires it - many don't), tax/tag/title fees, sales tax (only in some state), and the first month's payment.
If you are not familiar with leasing, you should spend some time learning about it so that you don't make mistakes that will be very difficult to correct later. Following is a good web site that might help you. It also has a lease payment calculator.
http://www.leaseguide.com/index2.htm
.
Thanks
How much does it cost to lease a new mustang also how much cash down?
The cost of a lease will depend on the negotiated selling price on which the lease is based, the number of miles you plan to drive, your down payment, if any, how many months you want to lease, the lease rate (like interest rate), your credit score, the estimated lease-end resale (residual) value.
You'll need some cash up front: down payment (if any), security deposit (if the lease company requires it - many don't), tax/tag/title fees, sales tax (only in some state), and the first month's payment.
If you are not familiar with leasing, you should spend some time learning about it so that you don't make mistakes that will be very difficult to correct later. Following is a good web site that might help you. It also has a lease payment calculator.
http://www.leaseguide.com/index2.htm
.
Why does my local Blockbuster require a credit card instead of cash to rent ps3 and xbox 360 games?
I havent been able to rent games at all. I can never try it because they wont allow cash...I was thinking about gamefly or some other company like that. Instead buying a ps3 game and it turns out to be crap. What do I do?
Why does my local Blockbuster require a credit card instead of cash to rent ps3 and xbox 360 games?
Because the games are easily stolen and in such high demand, they charge it on the credit card so the full price can be charged in case you don't return it.
Reply:As it might be pretty obvious, video games are much more valuable then movies or DVD's so they require a credit card to check them out. This is just in case you decide not to bring the game back, so they can charge your credit card for the missing game. As for other services, i am a member of gamefly and it is totally awesome. Im an avid gamer and paying the monthly fee is well worth it becuase i can rent games and baisically never have to turn them in until im done with them.
Reply:if you're at the blockbuster store you can pay cash to rent it, but they ask for your credit card so they can charge you full price (usually $60) for the game if you do not return it. gamefly will ask for a credit card to pay the monthly subscription. i don't know what their return policy is though.
Reply:they need to be able to recover the cost if you don't return the game....my Blockbuster lets me pay cash, but they have my credit card on file linked to my account. If you can't get a parent or someone to let you use their card to back the account, try your local public library. Ours lets you borrow games for 7 days for free!! WE TRY 2 Wii games just about every week. As long as you return them on time there is no cost.
Reply:probably so people don't rent the games and then never return them. if there's a credit card on file, they can just charge you for the game cost. i imagine that a lot of those games are returned late or not at all (especially since ps3 games are at least $60).
Reply:They do it as security, so if you don't bring them back, they charge you. You can use a debit card. I think most places won't let you rent games anymore without a credit or debit card.
Reply:Just get gamefly it is so much better than blockbuster.
You can also download demos off of xbox live and playstation for free.
Reply:Get a credit card. If they have your info and you don't return it they charge you.
Reply:i concur with answers 2 and 3. a clerk at blockbuster told me as much when i asked. it makes perfect sense too.
braces for teeth
Why does my local Blockbuster require a credit card instead of cash to rent ps3 and xbox 360 games?
Because the games are easily stolen and in such high demand, they charge it on the credit card so the full price can be charged in case you don't return it.
Reply:As it might be pretty obvious, video games are much more valuable then movies or DVD's so they require a credit card to check them out. This is just in case you decide not to bring the game back, so they can charge your credit card for the missing game. As for other services, i am a member of gamefly and it is totally awesome. Im an avid gamer and paying the monthly fee is well worth it becuase i can rent games and baisically never have to turn them in until im done with them.
Reply:if you're at the blockbuster store you can pay cash to rent it, but they ask for your credit card so they can charge you full price (usually $60) for the game if you do not return it. gamefly will ask for a credit card to pay the monthly subscription. i don't know what their return policy is though.
Reply:they need to be able to recover the cost if you don't return the game....my Blockbuster lets me pay cash, but they have my credit card on file linked to my account. If you can't get a parent or someone to let you use their card to back the account, try your local public library. Ours lets you borrow games for 7 days for free!! WE TRY 2 Wii games just about every week. As long as you return them on time there is no cost.
Reply:probably so people don't rent the games and then never return them. if there's a credit card on file, they can just charge you for the game cost. i imagine that a lot of those games are returned late or not at all (especially since ps3 games are at least $60).
Reply:They do it as security, so if you don't bring them back, they charge you. You can use a debit card. I think most places won't let you rent games anymore without a credit or debit card.
Reply:Just get gamefly it is so much better than blockbuster.
You can also download demos off of xbox live and playstation for free.
Reply:Get a credit card. If they have your info and you don't return it they charge you.
Reply:i concur with answers 2 and 3. a clerk at blockbuster told me as much when i asked. it makes perfect sense too.
braces for teeth
I've tried the cash surveys is there any other way to make money on the internet for free?
I tired cash surveys and they did not work. Most of them did not go through. Is there any way to make money online without having to pay to get started or take surveys?
I've tried the cash surveys is there any other way to make money on the internet for free?
Money for nothing? Come on, do you honestly think that exists for everyday people. You're going to have to work like the rest of us. There are online jobs out there but you still have to put in some work and a lot of them are pay on commission.
Reply:Sorry ... you're asking how to make money for free???
How can that be done? Remember one truth ... "If it sounds too good to be true it probably is"
Reply:Unfortunately, we have yet to see honest on-line job offers.
Reply:Want to earn $$$ out of Google Adsense?
Here is the solution, follow the steps below.
1. Visit http://www.exooom.com and sing up for a free account as a seller.
2. Choose few products you would like to sell %26amp; have the pictures of those products ready.
3. Login to members section using the password you registered as a seller.
4. Click on New Ad in the control panel and upload the products you would like to sell online.
5. While filling the product details, there will be a field to paste HTML coding.
(Example: Paypal Buy Now Button, Google Adsense)
6. Repeat Steps 4 %26amp; 5 to all the products you would like to sell online.
Benefits:
1. Free Advertising for the products you would like to sell online.
2. You get paid in return by Google Adsense when user clicks on your ads instead you pay to advertise your products online.
3. Get more page impressions easily.
4. No hassles of maintaining own website %26amp; other expenses.
5. Totally Free of charge.
Note: Do not click on your own Google Adsense, instead promote your products and let users do the clicks.
If you needed more support you can reach me on MSN Messenger my ID: nisreenmajeed@hotmail.com
Reply:FIRST THING FIRST
Free Turns Out To Be Fraud.
That's what I have learned in 5 years of my work on online marketing and money generation. ASK ME WHY?
Cause no fool will ever let you know the real secrets without cutting a profit for him. When you come across free money making sites they are DAMN SLOW. You never make enough.Take it for granted I have tested at least half a dozen of them.You just let someone spam your email with ads and surveys. Do referral with the hope that someday you will see profit and what do you come across? You know it pretty well.
They will charge you because they will provide you with MATERIAL, MEANS AND METHODS of making some decent money to "SATISFACTION". They will provide you online support to your queries- which you never get in the free ones. This cost them maintenance. What you pay is simply nothing in comparison to what you will get in return.
I would suggest you to give it a try. What you pay is securely Refundable--NOTHING TO LOSE.
just check out and ask yourself, did you know this before!
I hope It will work for you cause it works for me. Hope you succeed.
Click on my avatar and go to my profile where you will find a link as online money in the "about me" section.It will guide you to your required page.
Best Of Luck
Reply:You should work for me...
I'll pay you to start and teach you how to make money investing..
Its a win win situaiton...
email me at vincerus_dee@yahoo.com
Oh this isn't for everyone it is just for you
ez
I've tried the cash surveys is there any other way to make money on the internet for free?
Money for nothing? Come on, do you honestly think that exists for everyday people. You're going to have to work like the rest of us. There are online jobs out there but you still have to put in some work and a lot of them are pay on commission.
Reply:Sorry ... you're asking how to make money for free???
How can that be done? Remember one truth ... "If it sounds too good to be true it probably is"
Reply:Unfortunately, we have yet to see honest on-line job offers.
Reply:Want to earn $$$ out of Google Adsense?
Here is the solution, follow the steps below.
1. Visit http://www.exooom.com and sing up for a free account as a seller.
2. Choose few products you would like to sell %26amp; have the pictures of those products ready.
3. Login to members section using the password you registered as a seller.
4. Click on New Ad in the control panel and upload the products you would like to sell online.
5. While filling the product details, there will be a field to paste HTML coding.
(Example: Paypal Buy Now Button, Google Adsense)
6. Repeat Steps 4 %26amp; 5 to all the products you would like to sell online.
Benefits:
1. Free Advertising for the products you would like to sell online.
2. You get paid in return by Google Adsense when user clicks on your ads instead you pay to advertise your products online.
3. Get more page impressions easily.
4. No hassles of maintaining own website %26amp; other expenses.
5. Totally Free of charge.
Note: Do not click on your own Google Adsense, instead promote your products and let users do the clicks.
If you needed more support you can reach me on MSN Messenger my ID: nisreenmajeed@hotmail.com
Reply:FIRST THING FIRST
Free Turns Out To Be Fraud.
That's what I have learned in 5 years of my work on online marketing and money generation. ASK ME WHY?
Cause no fool will ever let you know the real secrets without cutting a profit for him. When you come across free money making sites they are DAMN SLOW. You never make enough.Take it for granted I have tested at least half a dozen of them.You just let someone spam your email with ads and surveys. Do referral with the hope that someday you will see profit and what do you come across? You know it pretty well.
They will charge you because they will provide you with MATERIAL, MEANS AND METHODS of making some decent money to "SATISFACTION". They will provide you online support to your queries- which you never get in the free ones. This cost them maintenance. What you pay is simply nothing in comparison to what you will get in return.
I would suggest you to give it a try. What you pay is securely Refundable--NOTHING TO LOSE.
just check out and ask yourself, did you know this before!
I hope It will work for you cause it works for me. Hope you succeed.
Click on my avatar and go to my profile where you will find a link as online money in the "about me" section.It will guide you to your required page.
Best Of Luck
Reply:You should work for me...
I'll pay you to start and teach you how to make money investing..
Its a win win situaiton...
email me at vincerus_dee@yahoo.com
Oh this isn't for everyone it is just for you
ez
I have just received my Barclays cash card,but i cant withdraw any money from a cleared cheque in my account?
I have yet to receive my pin number,this wont come until the end of the week,so am stuck till then it seems.Barclays do not allow cash withdralwls over the counter on cashcard accounts.Anyone with suggestions?
No clever comments please.
I have just received my Barclays cash card,but i cant withdraw any money from a cleared cheque in my account?
They should allow a counter withdrawal providing you take in 2 forms of i.d one of them must show your present address. challenge them if they refuse. it does take 6 working days for a cheque to clear in a barclays cash card account not the noraml 5 in a current account
Reply:Most banks advance you 100-200 dollars of your initial deposit check. You can withdraw that is cash if you can get to a branch. If not, you just have to wait. Most banks operate this way.
Reply:They should allow you a withdrawal. As a previous answer said, you could use the slips at the back of your cheque book.
Maybe they're not allowing it because they can't confirm your identity. Try taking in your passport too so they can confirm who you are, after all, its YOUR money!
Reply:your stuck mate...not clever...just honest.
Reply:Got a cheque book? At the rear of it are withdrawl boxes - can you go into the branch and withdraw against that?
Reply:Contact your bank. Surely you can withdraw over the counter. It is your money. If you were to clojse the account they would have to give it to you on the spot..
Reply:The cheque has to clear for 6 working days, and for any withdrawal over £300 at a Barclays counter you need 2 forms of ID eg your card and one other like a passport or driving licence only. Banks do not accept just anything with your address on such as a letter, as this does not prove who you are as you could've picked it up out of a bin. Once the cheque has cleared you will be able to withdraw the amount in full, but be aware that legally a cheque can be returned unpaid anything up to 6 weeks after the cheque has been credited to your account.
Reply:transfer the money into someone els accout (preffubly barclays so it is instant) and withdraw it from their account
(And barclays can give it to you to their own discresion!
No clever comments please.
I have just received my Barclays cash card,but i cant withdraw any money from a cleared cheque in my account?
They should allow a counter withdrawal providing you take in 2 forms of i.d one of them must show your present address. challenge them if they refuse. it does take 6 working days for a cheque to clear in a barclays cash card account not the noraml 5 in a current account
Reply:Most banks advance you 100-200 dollars of your initial deposit check. You can withdraw that is cash if you can get to a branch. If not, you just have to wait. Most banks operate this way.
Reply:They should allow you a withdrawal. As a previous answer said, you could use the slips at the back of your cheque book.
Maybe they're not allowing it because they can't confirm your identity. Try taking in your passport too so they can confirm who you are, after all, its YOUR money!
Reply:your stuck mate...not clever...just honest.
Reply:Got a cheque book? At the rear of it are withdrawl boxes - can you go into the branch and withdraw against that?
Reply:Contact your bank. Surely you can withdraw over the counter. It is your money. If you were to clojse the account they would have to give it to you on the spot..
Reply:The cheque has to clear for 6 working days, and for any withdrawal over £300 at a Barclays counter you need 2 forms of ID eg your card and one other like a passport or driving licence only. Banks do not accept just anything with your address on such as a letter, as this does not prove who you are as you could've picked it up out of a bin. Once the cheque has cleared you will be able to withdraw the amount in full, but be aware that legally a cheque can be returned unpaid anything up to 6 weeks after the cheque has been credited to your account.
Reply:transfer the money into someone els accout (preffubly barclays so it is instant) and withdraw it from their account
(And barclays can give it to you to their own discresion!
What is the largest amount of cash that a person can handle in transactions whithout answering 1000 questions?
If I wanted to buy a car with $12,000. in cold hard cash -- would I be asked or accused of bad money? I have heard that when anything over $9,950. is exchanged between a business or a bank with a private person; the Federal people want to know where it came from.
What is the largest amount of cash that a person can handle in transactions whithout answering 1000 questions?
While $10,000 is the mark at which banks are REQUIRED to file a Transaction Report, they can file a Suspicious Transaction Report for ANY amount. Neither report is anywhere close to 1000 questions. Unless you make multiple large transactions, the Feds will barely notice they ever received the report. They are looking for patterns of behavior that indicate money laundering. A single transaction is NOT a pattern.
crustysob is mistaken about 9/11 changing the rules. Reporting transactions that appear designed to avoid the $10,000 trigger has been required for as long as the $10,000 threshold has been in place.
Reply:The law states that the retailer/bank must file a form if someone walks in with more than $10K in cash. Some banks will report even less.
Don't you have a checking account? Or take some of the cash (say 3 or 4 thousand) and go and buy money orders in $1000 denominations.
And it is not 1000 questions, it is more along the lines of filling out a form where you give your name, address, social security number and sign a statement that you did not obtain the cash illegally.
Reply:The Bank Secrecy Act (BSA) requires financial institutions to complete forms on all transactions of $10,000 or more. In addition, Since the 9/11 attacks, Homeland Security requires financial institutions to complete forms on frequent cash transactions which serves to identify transactions that may be intended to avoid the $10,000 threshold of BSA.
Reply:10,000 is your mark. You walk into a bank you deposit 9,999 well if it was at the bank I worked at I would still make you fill it out. Anything over 10,000 you have to fill our federal paperwork. So open an account and deposit 2,000 in the morning 5,000 in the afternoon. 6,000 the next day and dont worry about it.
Rick has a good Idea, go to your bank and get a CD for 12,000 dollars. Get a 12,000 dollar loan and use your CD for collateral. Then pay it off with the CD in a couple of months. This will build your credit if you dont have any.
Reply:You simply have to fill out a form. I think it is an "I-9" but I might have that wrong.
Not 1,000 questions, just one form.
You could always finance it and pay it off in two or three payments if you want.
Reply:$10,000 is what triggers the government getting involved. But also, if you have lots of cash transactions, and your occupation is one that shouldn't involve a lot of cash.
What is the largest amount of cash that a person can handle in transactions whithout answering 1000 questions?
While $10,000 is the mark at which banks are REQUIRED to file a Transaction Report, they can file a Suspicious Transaction Report for ANY amount. Neither report is anywhere close to 1000 questions. Unless you make multiple large transactions, the Feds will barely notice they ever received the report. They are looking for patterns of behavior that indicate money laundering. A single transaction is NOT a pattern.
crustysob is mistaken about 9/11 changing the rules. Reporting transactions that appear designed to avoid the $10,000 trigger has been required for as long as the $10,000 threshold has been in place.
Reply:The law states that the retailer/bank must file a form if someone walks in with more than $10K in cash. Some banks will report even less.
Don't you have a checking account? Or take some of the cash (say 3 or 4 thousand) and go and buy money orders in $1000 denominations.
And it is not 1000 questions, it is more along the lines of filling out a form where you give your name, address, social security number and sign a statement that you did not obtain the cash illegally.
Reply:The Bank Secrecy Act (BSA) requires financial institutions to complete forms on all transactions of $10,000 or more. In addition, Since the 9/11 attacks, Homeland Security requires financial institutions to complete forms on frequent cash transactions which serves to identify transactions that may be intended to avoid the $10,000 threshold of BSA.
Reply:10,000 is your mark. You walk into a bank you deposit 9,999 well if it was at the bank I worked at I would still make you fill it out. Anything over 10,000 you have to fill our federal paperwork. So open an account and deposit 2,000 in the morning 5,000 in the afternoon. 6,000 the next day and dont worry about it.
Rick has a good Idea, go to your bank and get a CD for 12,000 dollars. Get a 12,000 dollar loan and use your CD for collateral. Then pay it off with the CD in a couple of months. This will build your credit if you dont have any.
Reply:You simply have to fill out a form. I think it is an "I-9" but I might have that wrong.
Not 1,000 questions, just one form.
You could always finance it and pay it off in two or three payments if you want.
Reply:$10,000 is what triggers the government getting involved. But also, if you have lots of cash transactions, and your occupation is one that shouldn't involve a lot of cash.
When a person gets paid in cash does he have to pay taxes on it?
I was offered to work for someone who is willing to pay me with a check made out to cash. He says that I don't have to pay taxes on it. Is he right?
When a person gets paid in cash does he have to pay taxes on it?
HUGE MISTAKE!!! Same thing happened to me when I was young. First, it is illegal. Yes, it is a criminal offense for both of you. (unless you get less that $500 a year,about) There is a reason it is illegal. Everyone in America is supposed to pay some taxes on their income, and that money goes to pay for our roads, schools, welfare, and all sorts of extra stuff. If you dont pay your share, it raises taxes for the rest of us, and therefor you are stealing from all people that do pay taxes.
When we hurt others, it tends to come back to us. In this case, it comes back to you that if you dont pay the taxes you will not have a recorded income. If you ever go to buy a home, you will be required to provide several years of recorded income from the IRS. No loans and no house for you! No small business loan. No political jobs. The list goes on.
Also, if you later decide to pay the taxes that you should have, you will owe most likely TONS of money in interest, penalties, etc. TRUST ME, YOU DO NOT WANT TO WORK for this kind of illegal person that is taking advantage of you. They are doing it only to save money by not paying the government your social security money, and other benefits you are allowed. That is like stealing from old ladies in retirement homes. RUN FAST!
Reply:Yes. if the person who pay you the money did not pay for any tax and you also don't need to pay tax.
Reply:No, it is illegal!!!
Reply:Of course you have to declare the income and pay taxes on it!
Don't listen to "The Don." Honest people will report it. Idiots hide things.
Reply:No.
You must pay taxes regardless of how you are paid.
Reply:If you want to do something illegal and risk being in trouble with the IRS, then yes he's right.
You are legally required to report and pay taxes on this income. It's illegal for him to pay you this way, or for you to accept it.
Reply:No, he's not.
Figure that your tax bill will be between 30% and 45% of whatever he's paying you. Unless he's making a VERY generous offer, he's NOT doing you any favors at all.
BTW, when you cash the check you'll have to endorse it. This will leave an audit trail that will burn BOTH of you if you don't play by the rules.
Reply:Technically, yes, he is right. As far as the bank is concerned, he is cashing that check. Really though, it is dishonest and he knows it.
Reply:you're supposed to report it and pay taxes on it, but only an idiot would report it...
Reply:no, any one
http://redtagdeals.com/turbo_tax-coupons
Reply:Sorry, not true. Anything paid to an employee is taxable and must be declared on your taxes. Anything over 600.00 in one calendar year without taxes taken makes you an independent contractor and both you and the person paying you must report it.
permanent teeth eruption
When a person gets paid in cash does he have to pay taxes on it?
HUGE MISTAKE!!! Same thing happened to me when I was young. First, it is illegal. Yes, it is a criminal offense for both of you. (unless you get less that $500 a year,about) There is a reason it is illegal. Everyone in America is supposed to pay some taxes on their income, and that money goes to pay for our roads, schools, welfare, and all sorts of extra stuff. If you dont pay your share, it raises taxes for the rest of us, and therefor you are stealing from all people that do pay taxes.
When we hurt others, it tends to come back to us. In this case, it comes back to you that if you dont pay the taxes you will not have a recorded income. If you ever go to buy a home, you will be required to provide several years of recorded income from the IRS. No loans and no house for you! No small business loan. No political jobs. The list goes on.
Also, if you later decide to pay the taxes that you should have, you will owe most likely TONS of money in interest, penalties, etc. TRUST ME, YOU DO NOT WANT TO WORK for this kind of illegal person that is taking advantage of you. They are doing it only to save money by not paying the government your social security money, and other benefits you are allowed. That is like stealing from old ladies in retirement homes. RUN FAST!
Reply:Yes. if the person who pay you the money did not pay for any tax and you also don't need to pay tax.
Reply:No, it is illegal!!!
Reply:Of course you have to declare the income and pay taxes on it!
Don't listen to "The Don." Honest people will report it. Idiots hide things.
Reply:No.
You must pay taxes regardless of how you are paid.
Reply:If you want to do something illegal and risk being in trouble with the IRS, then yes he's right.
You are legally required to report and pay taxes on this income. It's illegal for him to pay you this way, or for you to accept it.
Reply:No, he's not.
Figure that your tax bill will be between 30% and 45% of whatever he's paying you. Unless he's making a VERY generous offer, he's NOT doing you any favors at all.
BTW, when you cash the check you'll have to endorse it. This will leave an audit trail that will burn BOTH of you if you don't play by the rules.
Reply:Technically, yes, he is right. As far as the bank is concerned, he is cashing that check. Really though, it is dishonest and he knows it.
Reply:you're supposed to report it and pay taxes on it, but only an idiot would report it...
Reply:no, any one
http://redtagdeals.com/turbo_tax-coupons
Reply:Sorry, not true. Anything paid to an employee is taxable and must be declared on your taxes. Anything over 600.00 in one calendar year without taxes taken makes you an independent contractor and both you and the person paying you must report it.
permanent teeth eruption
Do you credit interest on an increasing cash balance in dcf calculation?
I'm modelling a business which generates cash, in my cash flow model that cash builds up. Conceptually would I credit the company with annual interest (ie 5% on credit balance). If so, in the latter years of the project, where a large cash balance has built up, you get some seriously high interest payments.
Do you credit interest on an increasing cash balance in dcf calculation?
Yes thats true. Good observation.
Do you credit interest on an increasing cash balance in dcf calculation?
Yes thats true. Good observation.
How and where do I report "Cash-in-lieu-of-stock" to the IRS?
Two companies I own stock in split their stocks, but some cash was left over. Each is less than $50. I looked at Pub 550, but that didn't seem to address this particular item...
Any and all help or guidance will be appreciated...
Thanks.
How and where do I report "Cash-in-lieu-of-stock" to the IRS?
Technically, some of your basis is allocated to the partial share (see publication 550, "fractional share" to see the math), but the IRS won't mind if you put $0 down as your cost basis on the schedule D.
Fractional shares. You may not own enough stock in a corporation to receive a full share of stock if the corporation declares a stock dividend. However, with the approval of the shareholders, the corporation may set up a plan in which fractional shares are not issued, but instead are sold, and the cash proceeds are given to the shareholders. Any cash you receive for fractional shares under such a plan is treated as an amount realized on the sale of the fractional shares. You must determine your gain or loss and report it as a capital gain or loss on Schedule D (Form 1040). Your gain or loss is the difference between the cash you receive and the basis of the fractional shares sold.
Example.
You own one share of common stock that you bought on January 3, 1999, for $100. The corporation declared a common stock dividend of 5% on June 30, 2007. The fair market value of the stock at the time the stock dividend was declared was $200. You were paid $10 for the fractional-share stock dividend under a plan described in the above paragraph. You figure your gain or loss as follows:
Fair market value of old stock $200.00
Fair market value of stock dividend
(cash received) + 10.00
Fair market value of old stock and stock dividend $210.00
Basis (cost) of old stock
after the stock dividend
(($200 ÷ $210) × $100) $95.24
Basis (cost) of stock dividend
(($10 ÷ $210) × $100) + 4.76
Total $100.00
Cash received $10.00
Basis (cost) of stock dividend - 4.76
Gain $5.24
Because you had held the share of stock for more than 1 year at the time the stock dividend was declared, your gain on the stock dividend is a long-term capital gain.
Reply:Your 1099-B (2007 Proceeds from Broker and Barter Exchange Transactions) that your brokerage form sent you should have this information. This goes to your Schedule D (Form 1040).
On the 1099-B:
- Box 1a would indicate the date of the sale or exchange;
- Box 2 would list the dollar amount of the sale or exchange.
- Box 4 would list the amount of federal income tax withheld.
You simply enter those into the appropriate places on your Schedule D (Form 1040).
Any and all help or guidance will be appreciated...
Thanks.
How and where do I report "Cash-in-lieu-of-stock" to the IRS?
Technically, some of your basis is allocated to the partial share (see publication 550, "fractional share" to see the math), but the IRS won't mind if you put $0 down as your cost basis on the schedule D.
Fractional shares. You may not own enough stock in a corporation to receive a full share of stock if the corporation declares a stock dividend. However, with the approval of the shareholders, the corporation may set up a plan in which fractional shares are not issued, but instead are sold, and the cash proceeds are given to the shareholders. Any cash you receive for fractional shares under such a plan is treated as an amount realized on the sale of the fractional shares. You must determine your gain or loss and report it as a capital gain or loss on Schedule D (Form 1040). Your gain or loss is the difference between the cash you receive and the basis of the fractional shares sold.
Example.
You own one share of common stock that you bought on January 3, 1999, for $100. The corporation declared a common stock dividend of 5% on June 30, 2007. The fair market value of the stock at the time the stock dividend was declared was $200. You were paid $10 for the fractional-share stock dividend under a plan described in the above paragraph. You figure your gain or loss as follows:
Fair market value of old stock $200.00
Fair market value of stock dividend
(cash received) + 10.00
Fair market value of old stock and stock dividend $210.00
Basis (cost) of old stock
after the stock dividend
(($200 ÷ $210) × $100) $95.24
Basis (cost) of stock dividend
(($10 ÷ $210) × $100) + 4.76
Total $100.00
Cash received $10.00
Basis (cost) of stock dividend - 4.76
Gain $5.24
Because you had held the share of stock for more than 1 year at the time the stock dividend was declared, your gain on the stock dividend is a long-term capital gain.
Reply:Your 1099-B (2007 Proceeds from Broker and Barter Exchange Transactions) that your brokerage form sent you should have this information. This goes to your Schedule D (Form 1040).
On the 1099-B:
- Box 1a would indicate the date of the sale or exchange;
- Box 2 would list the dollar amount of the sale or exchange.
- Box 4 would list the amount of federal income tax withheld.
You simply enter those into the appropriate places on your Schedule D (Form 1040).
I have a cash paying job, how long can i deposit cash without paying taxes?
I have a job that pays under the table, always cash. I make 350-450 dollars a week. how long can i go on depositing the money into my bank account before the IRS catches on? Assuming they do catch on at some point, how would they go about acquiring the money from me, and how much would i owe them?
I have a cash paying job, how long can i deposit cash without paying taxes?
You and your cash employer are also not paying into your Social Security Account either. I bet your employer is not paying unemployment taxes or even workmen's compensation. I would start looking for another job while you still working. You are shortchanging yourself. You could not even get the stimulus check because you did not pay any taxes.
Reply:You're considered self-employed. As such, your filing requirement amount is $400 for the entire year. So, you hit that during your first week or two on this gig.
You'll owe about $3,300 in self-employment taxes on top of whatever income taxes you will owe. Income taxes are based upon total income, filing status, deductions, exemptions, etc so are not easy to predict without complete knowledge of your situation. But as an example, if you're single and not a dependent and have no dependents you'd owe about $1,560 in income taxes for a total of $4,860. That would require you to make quarterly estimated tax payments of $1,215. If your State levies an income tax, you'd need to make estimated payments there as well.
The IRS will find out about the income when it's reported to them. The most common way is via Form 1099. Businesses that pay you are required to report the payments using Form 1099 whenever the total they pay you in any one year exceeds $600. If the business is playing fast and loose and not reporting these, it's likely that the IRS will find about you when the business is audited. That will happen sooner or later; small businesses have about a 1 in 10 shot of being audited in any given year. The IRS will disallow the business deductions for money paid to you unless they prepare the Forms 1099. At that point, YOU are busted.
If you don't file your tax returns and pay the taxes, the IRS has many ways of getting their money. They can seize your bank accounts and any other assets. They can attach your accounts receivable. If you are working at a wage job, they can attach your wages. And once they come after you for it, the debt will mount significantly since they will tack on failure to file penalties as well as late payment penalties and interest. In the worst case, this can nearly double you debt over time.
But let's say for sake of argument that you manage to fly under the radar for 45 years and make it to retirement age. I hope you've set aside a good chunk of that income since as far as the Social Security Administration is concerned, your lifetime earnings are $0 so that's what you'll get from them: $0. Hope you like Alpo.
Reply:There are a lot of ways to get caught, and most of them don't even include them noticing the bank deposits. You know you are legally required to pay tax on this. If you don't, then if and when they catch you, you'll owe what you would have owed in the first place plus interest and penalties, and the interest and penalties could easily grow to more than double the original tax. You could be prosecuted for tax evasion and end up in prison.
They'll acquire the money from you by putting you on a payment plan, and if you don't pay, can and will seize any assets you have including draining your bank account.
Reply:This is self employed income. Read about self employed tax filing
http://taxipay.blogspot.com/2008/04/tax-...
I have a cash paying job, how long can i deposit cash without paying taxes?
You and your cash employer are also not paying into your Social Security Account either. I bet your employer is not paying unemployment taxes or even workmen's compensation. I would start looking for another job while you still working. You are shortchanging yourself. You could not even get the stimulus check because you did not pay any taxes.
Reply:You're considered self-employed. As such, your filing requirement amount is $400 for the entire year. So, you hit that during your first week or two on this gig.
You'll owe about $3,300 in self-employment taxes on top of whatever income taxes you will owe. Income taxes are based upon total income, filing status, deductions, exemptions, etc so are not easy to predict without complete knowledge of your situation. But as an example, if you're single and not a dependent and have no dependents you'd owe about $1,560 in income taxes for a total of $4,860. That would require you to make quarterly estimated tax payments of $1,215. If your State levies an income tax, you'd need to make estimated payments there as well.
The IRS will find out about the income when it's reported to them. The most common way is via Form 1099. Businesses that pay you are required to report the payments using Form 1099 whenever the total they pay you in any one year exceeds $600. If the business is playing fast and loose and not reporting these, it's likely that the IRS will find about you when the business is audited. That will happen sooner or later; small businesses have about a 1 in 10 shot of being audited in any given year. The IRS will disallow the business deductions for money paid to you unless they prepare the Forms 1099. At that point, YOU are busted.
If you don't file your tax returns and pay the taxes, the IRS has many ways of getting their money. They can seize your bank accounts and any other assets. They can attach your accounts receivable. If you are working at a wage job, they can attach your wages. And once they come after you for it, the debt will mount significantly since they will tack on failure to file penalties as well as late payment penalties and interest. In the worst case, this can nearly double you debt over time.
But let's say for sake of argument that you manage to fly under the radar for 45 years and make it to retirement age. I hope you've set aside a good chunk of that income since as far as the Social Security Administration is concerned, your lifetime earnings are $0 so that's what you'll get from them: $0. Hope you like Alpo.
Reply:There are a lot of ways to get caught, and most of them don't even include them noticing the bank deposits. You know you are legally required to pay tax on this. If you don't, then if and when they catch you, you'll owe what you would have owed in the first place plus interest and penalties, and the interest and penalties could easily grow to more than double the original tax. You could be prosecuted for tax evasion and end up in prison.
They'll acquire the money from you by putting you on a payment plan, and if you don't pay, can and will seize any assets you have including draining your bank account.
Reply:This is self employed income. Read about self employed tax filing
http://taxipay.blogspot.com/2008/04/tax-...
What would be the best thing to sell online to make some extra cash?
I need some extra cash and i was wondering what are the things that sell most online?Also i would like to know good seling tips and what not! Thanks ;)
What would be the best thing to sell online to make some extra cash?
You can register with SMC they will let you sell their items and you get them at cost. Impulse items are easy to sell. Then go to half.com and sell them there. Or instead of selling you can go to workathomeagent.com and work for different companies there out of your home. No joke I've been with them for years. It's great for extra cash. Good luck. Or even go to workplacelikehome.com. It's a blog of women who work for many companies from home.
Reply:go to http://www.ProductForever.com
will help you to start selling online fast and easy Report Abuse
Reply:SFI Affiliate Program, No Sales, No Investment,
For more details please log on to
http://www.moreinfo247.com/9730642/CB
PLEASE COMPLETE THE FOUR STEPS TO STEP UP YOUR FUTURE
STEP 1.FILL THE FORM AND SIGN UP, NEXT WINDOW OPENS
STEP 2.CLICK THE PROCEED BUTTON AT THE END OF THE PAGE,
STEP 3.FILL YOUR PROFILE,SUBMIT
STEP 4.CONFIRM YOUR REGISTRATION
YOU CAN JOIN MEMBERS ONLY AFTER YOU CONFIRM YOUR REGISTRATION
YOu will paid IN US$ for Each member joining under you.THEY ALSO SHOULD
CONFIRM THEIR REGISTRATION . FOR THIS You can use
free ads or yahoo groups to reach members as i reached you.Daily I am posting in 50 groups,
and I am able to join atleast 5 members a day. It is not hype I am earning Y to wait
You cannot go wrong with this program. Do not delay in your
decision of accepting it as your full-time income. While you may not
become rich overnight, You WILL become independent."
NOTE: THIS MESSAGE IS SENT TO INTERESTED MEMBERS OF THE GROUP OTHERS
PLEASE IGNORE.
Reply:I suggest simply builing a simple website selling your own knowledge. What is your hobby or niche. By web searching there is so many ways to get free advertising and affiliates. The key is to sell your knowledge or have a product on your site related to that niche. alllow for blogs forums and emails and off you go. There are so many affiliate sites and make a million overnite. I spent $100's getting bunk stuff. spend an extra week doing your own than buying into these get rich quick schemes. There are also many legit business opportunities. Find a product or service that interests you and either they will set a site for you or I beleive set up your own. Google will also along with other ad/search sites start to see your hits and place pay per click ads on. sounds simple. It is. Well I lie! I hope it is . I just purchased alms4thepoor.com today and have a goal of being up and running in two weeks, I have done considerable research which you must do on the subject you choose. I am poor and disabled so the past three years have been lifes research. you must be passionate about something so most of your research is already done. Good luck.
Reply:Set up an adult site... porn is, I believe, the number one online commerce.
Reply:I would say anything to do with babies and children in big business. Clothes, equipment etc but as there is a lot of competition you would need to offer either specialist lines or a great service, possibly a gift wrapping service for birthydays etc that you would send the selected gift the the reciepient on a specific day?
Or cloth nappies and environmentally friendly products are big business as well, if you are good with a machine you could make oyour own nappies, or you could sell soapnuts etc that are hard to get over here and very sought after.
buck teeth
What would be the best thing to sell online to make some extra cash?
You can register with SMC they will let you sell their items and you get them at cost. Impulse items are easy to sell. Then go to half.com and sell them there. Or instead of selling you can go to workathomeagent.com and work for different companies there out of your home. No joke I've been with them for years. It's great for extra cash. Good luck. Or even go to workplacelikehome.com. It's a blog of women who work for many companies from home.
Reply:go to http://www.ProductForever.com
will help you to start selling online fast and easy Report Abuse
Reply:SFI Affiliate Program, No Sales, No Investment,
For more details please log on to
http://www.moreinfo247.com/9730642/CB
PLEASE COMPLETE THE FOUR STEPS TO STEP UP YOUR FUTURE
STEP 1.FILL THE FORM AND SIGN UP, NEXT WINDOW OPENS
STEP 2.CLICK THE PROCEED BUTTON AT THE END OF THE PAGE,
STEP 3.FILL YOUR PROFILE,SUBMIT
STEP 4.CONFIRM YOUR REGISTRATION
YOU CAN JOIN MEMBERS ONLY AFTER YOU CONFIRM YOUR REGISTRATION
YOu will paid IN US$ for Each member joining under you.THEY ALSO SHOULD
CONFIRM THEIR REGISTRATION . FOR THIS You can use
free ads or yahoo groups to reach members as i reached you.Daily I am posting in 50 groups,
and I am able to join atleast 5 members a day. It is not hype I am earning Y to wait
You cannot go wrong with this program. Do not delay in your
decision of accepting it as your full-time income. While you may not
become rich overnight, You WILL become independent."
NOTE: THIS MESSAGE IS SENT TO INTERESTED MEMBERS OF THE GROUP OTHERS
PLEASE IGNORE.
Reply:I suggest simply builing a simple website selling your own knowledge. What is your hobby or niche. By web searching there is so many ways to get free advertising and affiliates. The key is to sell your knowledge or have a product on your site related to that niche. alllow for blogs forums and emails and off you go. There are so many affiliate sites and make a million overnite. I spent $100's getting bunk stuff. spend an extra week doing your own than buying into these get rich quick schemes. There are also many legit business opportunities. Find a product or service that interests you and either they will set a site for you or I beleive set up your own. Google will also along with other ad/search sites start to see your hits and place pay per click ads on. sounds simple. It is. Well I lie! I hope it is . I just purchased alms4thepoor.com today and have a goal of being up and running in two weeks, I have done considerable research which you must do on the subject you choose. I am poor and disabled so the past three years have been lifes research. you must be passionate about something so most of your research is already done. Good luck.
Reply:Set up an adult site... porn is, I believe, the number one online commerce.
Reply:I would say anything to do with babies and children in big business. Clothes, equipment etc but as there is a lot of competition you would need to offer either specialist lines or a great service, possibly a gift wrapping service for birthydays etc that you would send the selected gift the the reciepient on a specific day?
Or cloth nappies and environmentally friendly products are big business as well, if you are good with a machine you could make oyour own nappies, or you could sell soapnuts etc that are hard to get over here and very sought after.
buck teeth
Should I exercise my stock options or take the cash settlement for tax purposes?
The company I work for has been purchased by an international company and the deal willl close in sept. I have unexercised iso stock options that are worth $180m. If I do not exercise them, I will be paid in cash when the merger closes in Sept. I will make about $200m in regular salary this year. I want to MINIMIZE the taxes I will pay on my iso's. Based on my salary, I know if I exercise the options I will have to report the value for AMT purposes. Would I be better off excercising the options (my old company stock would be converted to the new firms stock) and holding it for at least a year and dealing with AMT or just taking the cash and reporting it as regular income. Is their a tax advantage either way? Thanks
Should I exercise my stock options or take the cash settlement for tax purposes?
You make that much money and don't have tax accountants and financial advisers working for you? How come I make a lot less and I have a tax accountant and financial advisers to answer questions for me. In other words you make that much money, yet you don't know the answer to this question. Would it be best to say I don't believe you or just call you a liar?
Now I know there will be thumbs down for my answer to you as there are people who will believe ever thing you are saying to which can't be true.
Reply:no clue, but can i marry you, ive never heard of someone being so successful!
Reply:If you are making $200,000,000, it makes little difference. In either case, you will pay taxes at the HIGHEST federal income tax rate. ATM at that level essentially replaces ALL itemized deductions with the equivalent of the standard.
Reply:You could exercise the options and hold the stock for a year to get the long term capital gain break. If the new firm is solid roll the old stock into the new. Or, you might split it up and do a half rollover and half exercise the option scenario. With the democrats and their tax and destroy deathwish the capital gain deferral may not be there much longer. They believe that if we send the money to washington they can spend it much more wisely than the low life taxpaying scum who sweat and toil to earn it in the first place.
Reply:You don't own all those stock options. If you did, your broker that your company uses would help you make the best decision.
Reply:You obviously don't make as much as you say if you have to come here to ask the question.
Reply:First of all, I am assuming you are using "m" as an abreviation for thousand. If you are using it as an abbreviation for million you should already have a professional watching over your financial welfare.
In your situation I would start by reading the book "Consider Your Options" by Kaye Thomas.
http://www.fairmark.com/books/consider.h...
You can post any questions you have from the book on the message board at fairmark
http://www.fairmark.com/
and likely get an answer from Kaye Thomas himself. As a tax lawyer who has studied employee compensation in stock and options you are almost sure to get better information from him than anyone responding to your question on Yahoo Answers.
Should I exercise my stock options or take the cash settlement for tax purposes?
You make that much money and don't have tax accountants and financial advisers working for you? How come I make a lot less and I have a tax accountant and financial advisers to answer questions for me. In other words you make that much money, yet you don't know the answer to this question. Would it be best to say I don't believe you or just call you a liar?
Now I know there will be thumbs down for my answer to you as there are people who will believe ever thing you are saying to which can't be true.
Reply:no clue, but can i marry you, ive never heard of someone being so successful!
Reply:If you are making $200,000,000, it makes little difference. In either case, you will pay taxes at the HIGHEST federal income tax rate. ATM at that level essentially replaces ALL itemized deductions with the equivalent of the standard.
Reply:You could exercise the options and hold the stock for a year to get the long term capital gain break. If the new firm is solid roll the old stock into the new. Or, you might split it up and do a half rollover and half exercise the option scenario. With the democrats and their tax and destroy deathwish the capital gain deferral may not be there much longer. They believe that if we send the money to washington they can spend it much more wisely than the low life taxpaying scum who sweat and toil to earn it in the first place.
Reply:You don't own all those stock options. If you did, your broker that your company uses would help you make the best decision.
Reply:You obviously don't make as much as you say if you have to come here to ask the question.
Reply:First of all, I am assuming you are using "m" as an abreviation for thousand. If you are using it as an abbreviation for million you should already have a professional watching over your financial welfare.
In your situation I would start by reading the book "Consider Your Options" by Kaye Thomas.
http://www.fairmark.com/books/consider.h...
You can post any questions you have from the book on the message board at fairmark
http://www.fairmark.com/
and likely get an answer from Kaye Thomas himself. As a tax lawyer who has studied employee compensation in stock and options you are almost sure to get better information from him than anyone responding to your question on Yahoo Answers.
Cash register program for my computer to keep track of profits?
Where can I find a free program that will essentially make my computer a cash register-- so I can keep track of profits and inventory? It exists, but I haven't found it yet.
Cash register program for my computer to keep track of profits?
i can't answer you question but i will let you know that royal cash registers are good, but depending on the uses! they can come already programmed for certain businesses! i own the halfway mkt. and i have to do the tape every night and it would be nice to keep up with it by computer instead of by hand!
Cash register program for my computer to keep track of profits?
i can't answer you question but i will let you know that royal cash registers are good, but depending on the uses! they can come already programmed for certain businesses! i own the halfway mkt. and i have to do the tape every night and it would be nice to keep up with it by computer instead of by hand!
How do I cash my child support money order if I have no bank account in South Carolina?
I received my child support in the mail as we have recently moved here to SC from Michigan and I cant find ANYONE who will cash it! Any ideas short of going to get a bank account?
How do I cash my child support money order if I have no bank account in South Carolina?
Is it a postal money order? Take it to the post office.
Reply:What's wrong with getting a bank account? Or do you plan to cash every child support check you get and then walk around with all that cash in your wallet all the time?
Take the check you have and open an account with it. Leave the money in the bank until you need it. That's what you're *supposed* to do with money.
Reply:grocery stores usually cash checks especially if they are from a known source. they charge you a couple dollars though.
How do I cash my child support money order if I have no bank account in South Carolina?
Is it a postal money order? Take it to the post office.
Reply:What's wrong with getting a bank account? Or do you plan to cash every child support check you get and then walk around with all that cash in your wallet all the time?
Take the check you have and open an account with it. Leave the money in the bank until you need it. That's what you're *supposed* to do with money.
Reply:grocery stores usually cash checks especially if they are from a known source. they charge you a couple dollars though.
How much cash should I give to one of my employees as a present for his wedding?
This man has been working for 3 years under the group I manage, and he is a great worker. After he announced his wedding to everyone, he said that he preferred cash over any other gift. I am kind of tight on my budget because I am looking to buy a house. I was thinking to give him a gift of no more than $100, but after hearing his preferences I feel pressured to give him cash and I feel awkward giving him the $100 because it may be seem as too little.
Is $100 too little for a wedding present?
How much cash should I give to one of my employees as a present for his wedding?
I would say if you go alone it would be enough. If you are bringing someone I would add another 100. You are the manager :)
Other coworker..100 is plenty!
Reply:Perfectly fine.
Are you going to his wedding? If not, the gift is fine.
Now, if you are going to the wedding, the dinner could cost at least $30 each and if you and your wife go that's $60 for food and $40 as a gift.
Reply:How about enough for a divorce lawyer?
Reply:that's a helluva gift. $100 is usually what i give to close friends and family.
Reply:$50 gift card is more than enough .
Reply:$100 is not too little. It's the norm.
Reply:Give him what you can afford. For my wedding some people only gave us 25 bucks, but we appreciated it because we knew they were thinking about us.
Reply:100$
Reply:When my husband and I were getting ready to get married, we both worked for the same company ... and our employer gave use each $100. We were 'very very poor' but even if this man makes a huge 'salary' that $100 is a very 'traditional' amount to give as a wedding gift. Buy a nice card, and put it in the envelope with that, and put their 'married name' on the outside.
Reply:$100 is plenty. If giving cash makes you uncomfortable, give him a gift card. You can get a VISA gift card that can be used anywhere or a card to a particular store. My personal opinion is that asking for cash is tacky. Registering for gifts at several stores allows people to purchase something expensive if they choose or a less expensive gift. Gifts are just that, a gift, not a request from the bride or groom. Don't feel pressured into doing something that does not come from your heart.
Reply:Take the 100.00 and buy a gift card. Walgreens drug stores have all sorts of them I bought my Mother an American Express Gift Card and she loved it because she could use it anywhere. That is what I would do. Or a 100.00 gift card to a really nice restaurant in your area.
Wallpapers software
Is $100 too little for a wedding present?
How much cash should I give to one of my employees as a present for his wedding?
I would say if you go alone it would be enough. If you are bringing someone I would add another 100. You are the manager :)
Other coworker..100 is plenty!
Reply:Perfectly fine.
Are you going to his wedding? If not, the gift is fine.
Now, if you are going to the wedding, the dinner could cost at least $30 each and if you and your wife go that's $60 for food and $40 as a gift.
Reply:How about enough for a divorce lawyer?
Reply:that's a helluva gift. $100 is usually what i give to close friends and family.
Reply:$50 gift card is more than enough .
Reply:$100 is not too little. It's the norm.
Reply:Give him what you can afford. For my wedding some people only gave us 25 bucks, but we appreciated it because we knew they were thinking about us.
Reply:100$
Reply:When my husband and I were getting ready to get married, we both worked for the same company ... and our employer gave use each $100. We were 'very very poor' but even if this man makes a huge 'salary' that $100 is a very 'traditional' amount to give as a wedding gift. Buy a nice card, and put it in the envelope with that, and put their 'married name' on the outside.
Reply:$100 is plenty. If giving cash makes you uncomfortable, give him a gift card. You can get a VISA gift card that can be used anywhere or a card to a particular store. My personal opinion is that asking for cash is tacky. Registering for gifts at several stores allows people to purchase something expensive if they choose or a less expensive gift. Gifts are just that, a gift, not a request from the bride or groom. Don't feel pressured into doing something that does not come from your heart.
Reply:Take the 100.00 and buy a gift card. Walgreens drug stores have all sorts of them I bought my Mother an American Express Gift Card and she loved it because she could use it anywhere. That is what I would do. Or a 100.00 gift card to a really nice restaurant in your area.
Wallpapers software
How do I get a cash advance at a bank?
I'm in a tight financial situation and I need to deposit some money into my bank account. Can I just go to my bank and have them run my credit card to get a cash advance? I have a pin number for my credit card, but the ATM will limit what I can take out per day, and will charge a fee for each transaction.
How do I get a cash advance at a bank?
Visit any bank and tell them you need a cash advance from your credit card. If you arent a member of that bank then you will only be able to withdraw up to $500 and they will more than likely charge you a withdrawal fee which is usually $5. If you have a bank then you should go to your bank where you can avoid limitations and fees.
Reply:A gun and a mask and a fast getaway car.
Reply:Be careful with credit card advances. The charge for each transaction is 3% of total advanced with a minimum charge amount and a max of usually $75.
Depending on dollar amount you are looking to "borrow", you may want to look at other alternatives like borrowing from a friend or family member.
Another alternative is a short term loan from a payday lender. Check to make sure they are reputable and are members with CSFA.net. Compare several payday lenders' charge per $100 borrowed.
Please use any cash advance method wisely and only borrow what you can payback within a given period.
If you cannot pay back a short term or two week loan then a cash advance from your credit card maybe your only option. Factor in the cost of the interest rate on top of the advance charge before you make that final decision.
How do I get a cash advance at a bank?
Visit any bank and tell them you need a cash advance from your credit card. If you arent a member of that bank then you will only be able to withdraw up to $500 and they will more than likely charge you a withdrawal fee which is usually $5. If you have a bank then you should go to your bank where you can avoid limitations and fees.
Reply:A gun and a mask and a fast getaway car.
Reply:Be careful with credit card advances. The charge for each transaction is 3% of total advanced with a minimum charge amount and a max of usually $75.
Depending on dollar amount you are looking to "borrow", you may want to look at other alternatives like borrowing from a friend or family member.
Another alternative is a short term loan from a payday lender. Check to make sure they are reputable and are members with CSFA.net. Compare several payday lenders' charge per $100 borrowed.
Please use any cash advance method wisely and only borrow what you can payback within a given period.
If you cannot pay back a short term or two week loan then a cash advance from your credit card maybe your only option. Factor in the cost of the interest rate on top of the advance charge before you make that final decision.
What exactly is a total cash allowance incentive?
Was looking at a dealers website and under incentives it gives an apr and an amount for each new vehicle- for example 4.9apr or $2000 Total Cash Allowance..what exactly does this mean?
What exactly is a total cash allowance incentive?
When you go to buy a vehicle that has incentivised rates you give up part of the rebate cash.
For example: If a car has 2000.00 in customer cash rebates and 500.00 bonus cash, it totals 2500.00. But if you take the incentivised rate of 4.9% you give up the 2000.00 customer cash. So then you would have 4.9% and only 500.00 bonus cash.
This is how GM works. Not too sure about the other manufacturers.
Reply:its the amount of rebate that you could get when you purcahse your vehicle
What exactly is a total cash allowance incentive?
When you go to buy a vehicle that has incentivised rates you give up part of the rebate cash.
For example: If a car has 2000.00 in customer cash rebates and 500.00 bonus cash, it totals 2500.00. But if you take the incentivised rate of 4.9% you give up the 2000.00 customer cash. So then you would have 4.9% and only 500.00 bonus cash.
This is how GM works. Not too sure about the other manufacturers.
Reply:its the amount of rebate that you could get when you purcahse your vehicle
What do we mean by cash discount in this question?
A photo machine operator purchased 20 packets of papers. The market price of a packet is Rs.144. He gets a discount of 17.5% and an additional 5% for cash. How much did he pay for the whole quantity?
What do we mean by cash discount in this question?
I think the individual receives an extra 5% of the purchase price if he pays in cash versus an alternative method (check or credit card); thus, the total discount to be applied would be 22.5% of (20*144).
What do we mean by cash discount in this question?
I think the individual receives an extra 5% of the purchase price if he pays in cash versus an alternative method (check or credit card); thus, the total discount to be applied would be 22.5% of (20*144).
How Do I make sure my employee and my partners don't steal from my retail store? Most transactions are cash.
I am planning to open a small retail store selling drinks and coffee. I will have a partner who will be managing the store since I am too busy to manage it myself. Most transactions will be in cash. How can I make sure all transactions are being reported?
How Do I make sure my employee and my partners don't steal from my retail store? Most transactions are cash.
Have a computerized cash register so you will be able to examine and total up all the receipts for each day.
pulling teeth
How Do I make sure my employee and my partners don't steal from my retail store? Most transactions are cash.
Have a computerized cash register so you will be able to examine and total up all the receipts for each day.
pulling teeth
What is the truth about cash value life insurance?
I have read from many different sources that term insurance is the best way to go, and just invest in mutual funds. But, I personally know a few people who own cash value policies. They have something called "equity indexed" life insurance (not variable life insurance) and seem to be pretty happy with it. Does anyone know anything about or have any experience with this kind of insurance? I'm considering going with something like that because I was told it's basically term insurance with a savings component where you earn interest based on the upward movement of the S%26amp;P 500, but you're not actually investing in the market so there's supposed to be no downside risk.
Anyone? Thanks.
What is the truth about cash value life insurance?
It's amazing to me that almost every time I see a question about life insurance, I see most people saying buy term and invest the difference. I also see a lot of folks try to compare cash value life insurance to an investment. This is awful.
Obviously I can't explain everything, but here is a list of the most common lies and misconceptions about life insurance:
http://www.twintierfinancial.com/article...
Anyway...before I go any further, I have to say this because it really bugs me that so many "experts" are confusing everyone else: cash value life insurance is not an investment.
IT IS NOT AN INVESTMENT.
It is a "life insurance death benefit with a savings component.". Savings component, not "investment component". Savings. There is a big difference.
What do typical cash value policies pay? 1-2% up to maybe 4% or 5% if you're lucky after commissions and sales charges. What do bank CDs pay? 1-2% up to maybe 4%, maybe 5% if you're lucky. Do you see any similarities?
Hardly ever do I hear the "term and invest the difference" folks talk about the FACT that about 1% of term policies ever pay a claim. That's one of a few reasons term insurance is so cheap.
They also live in a fantasy world where mutual funds will pay you 15% a year and you will never lose money. In retirement, you have many hundreds of thousands of dollars, but you will be either un-insurable (because you are too old) or the cost of insurance will be too high. This is OK according to some because you have all those hundreds of thousands of dollars and you don't need life insurance. They forget about what the IRS and lawyer fees/probate will do to all that money after you die.
The problem with the term and invest the difference approach is that you have 100% of your money in the stock market. What happens if the market takes a dive right before you are ready to retire. Suddenly, it doesn't matter how "smart" you were with your money. Do you remember the post 2000 crash?
Now, having said that, I don't think that you need to put every dime you have into a life insurance policy. They are long-term contracts, so they take 20 years or so to show their true value.
I hate to say it, but it sounds like there are just way too many people out there that have bought into Suze Orman's and Dave Ramsey's B.S.. That's too bad, because they are very well respected authorities in this industry and yet some of the stuff they are telling folks is absolutely false and I've proven it over and over again.
Anyway...a lot of these equity indexed life insurance policies are universal life insurance, which is basically a term insurance component married to a cash value account.
Some individuals think these equity indexed insurance policies are very complicated, but they are actually pretty easy to understand. The policy pays interest based on the upward movement of the stock market. It's then credited to your policy cash values use one of several formulas. The formula is what really determines how much you can potentially earn, and this is where a good advisor or insurance agent can be invaluable.
All an index represents is a number used to measure the general behavior of stock prices by measuring the current price behavior of a representative group of stocks in relation to a base value. The Dow Jones, for example, measures 30 of the largest and most established companies in America; often referred to as “blue chip” companies. It consists of companies like Wal-Mart, and Microsoft. The S%26amp;P 500, on the other hand, measures 500 large cap companies, most of which are American.
To make an equity indexed life insurance contract work, there needs to be two components: bonds (or bond-like instruments) and index call options. A bond is a debt instrument - a loan if you will - made by the Government or a corporation to another party, usually an institution like a bank or a life insurance company. These pay a fixed rate of return. If the bond is going to pay (i.e. if the debtor - the Government or the corporation - does not default on the bond) it will pay the stated interest rate. There is no question about what the interest rate will be, only IF they will pay.
An index call option is a stock option. A stock option is the right - but not the obligation - to buy or sell stock for a preset price (which is set when the option is purchased). There are two types of options: call options and put options. A put option is the right to sell stock at a preset price, and a call option is the right to buy stock at a preset price. So, for example, if you thought that a company’s stock was set to gain value, but you weren’t 100% sure that it would, you could buy a call option for much much less than buying the actual stock. Essentially, you are able to control a large amount of stock with very little money up front. You don’t actually own the stock and you don’t ever have to buy the stock, which is what gives you protection if the stock doesn’t do as well as you expected. However, there is an expiration for every option. And...the longer the expiration date, the more expensive the option will cost.
An index call option is a call option on a stock index - usually the S%26amp;P500 stock index. Banks and insurance companies are able to use a very precise mix of bonds (to guarantee the contract owner’s principal plus a small amount of appreciation) and index call options (to capture the upside potential of the stock market) to produce a new type of contract that gives the contract owner the upside potential of the stock market, without any of the downside risks associated with a direct investment in the stock market.
To make sure that you don't get "taken" or pay excessive commissions to the insurance agent, tell the insurance agent to "solve for the face amount". They should know what this means. If they give you a funny look, or say that they don't know what you're talking about or try to talk you out of that idea, get another agent.
Solving for the face amount means you take a dollar amount you want to set aside, and you buy the MINIMUM amount of death benefit you can possibly buy for that specific dollar amount. The MINIMUM amount of death benefit, not the maximum. This ensures that you get the most bang for your buck. Because most of these policies are universal life insurance, you might be surprised at how much insurance you can actually get buying the policy this way.
It will cut into the agent's commission, reducing it sometimes by quite a bit, but it's the only way to really cheapen the cost of insurance and maximize the amount of cash value you get back on a permanent policy. Not all agents and advisors are out to "take you for a ride" so to speak, so be careful who you listen to.
You should divide yourself into two parts: savings and investments. Stick to life insurance for long-term savings, or a high yield savings account for a way to help save money short term.
Then...diversify. You don't need to put every last dime into an insurance policy or saving account. Buy some no-load mutual funds, stocks, and learn how to invest.
The "buy term and invest the difference" crowd are saying something like this: "Buy dirt cheap insurance, and invest in mutual funds (maybe some stocks). You'll earn 10-15% and you'll be set for life."
I say this: "Instead of trying to make 100% of your money earn 10% or more, take 80-90% of your money and put it into a safe place, like cash value life insurance, and then use the remaining 10-20% to buy speculative investments and try to earn 20%, 30%, 50% or more.
Learn everything you can about investing in gold, IPOs, energy stocks, mining stocks, etc. for that 10-20%. You won't be putting 100% of your money at risk that way.
But now I'm moving off topic. The equity indexed life insurance is a good option depending on what you want or need it for. It's permanent life insurance protection with a *savings*, not investment, savings component.
Reply:I find it very interesting that the "asker" picked this answer as the best, when by far the most common answer was different than this one. Without going beyond what is one the thread, I have to wonder if there is a connection between the "asker" and the "answerer". Report Abuse
Reply:Almost all financial advisors who do not get a commmission from the products you purchawe prefer term life insurance to whole life because you can buy much more insurance for each premium dollar. Generally, the consenus is that people can invest their remaining dollars more efficiently than the return they get in the cash surrender of the whole life policy.
Attached is a link that explains the equity indexed life insurance idea. It looks as if the policies offer the insured to participate in some of the upside of the stock market while in essence also providing protection against loss in the market.
These plans apear to have many potential variations in them. One variation is what is the percent of the market percentage increase that the insured gets credited. Some policies have a limitation of 50% others are 80%. So, for example, if ther stock index gets a 15% return, the insured gets either 7.5% or up to 12% of the return. However, the policies also have a maximum return cap such as 10%. If the policy has that cap, then the cash surrender value is limited to a maximum 10% increase even if the market increase was 15% (and even if you have an 80% participant policy which would normally let you get a 12% return if there were no cap).
The downside protection will vary as well. Some insurers offer a guaranteed minimum return of, say 2%, but others say the minimum is 0% (which applies if the market has negative return for the year).
One insurance company whose literature I read says that the market return is based on the S%26amp;P 500, a nice index, but it excludes the dividende component of the stock return. Since the average dividend yield on the S%26amp;P 500 is in the area of 1.5%, this gives the insurer another 1.5% in which the insured does not participate. Historically, dividends are a large percentage of total stock market returns, so the market effect of excluding dividends could be a significant drag on the market return of the cash surrender value. The insureer also had the power to change some items like the interest cap rate and so on.
Based on what I have read, the premiums are likely to be higher for this product since the insurer is surely buying some market risk protection for guaranteeing some market rate of return and a minimum return.
It is very clear to me that you have to make sure you understand the idea of what index the policy is tied to (S%26amp;P 500 for example), what the market participation percentage is (do you get 50% or 80% of the market return as your return), whether there is an annual return cap whic further limites the market return, whether or not dividends on stocks are included in the stock index return and what the minumum return rate is. And compare premiums for different options (50% vs. 80%, diferent levels of guaranteed minimum return, etc.), including term insurance.
The whole package is likely to be much more conusfing and hard to evaluate than a normal insurance policy.
Personally, I have always preferred term insurance since I can get it for less cost and I invest my own money as I wish.
Reply:Make sure you do not buy any equity indexed annuity. The story sounds good , make money when the market is up and never lose money when the market is down. In the long run the fee's and hidden costs kill the contract. Also there are usually crazy surrender charges like 19 years. If you buy cash value life insurance I would go with 3 options
1. Whole Life
2. Term
3. Universal Life with a Secondary Guarantee ( Like a Infinite term) Not Flexible though
Reply:Term is much less expensive, up to 1/10th as much as whole life, or its variations. Term is also like renting, you get nothing in return, unless you die during the term period, and your heirs profit. It is pure family protection.
Whole life means you pay for insurance............. your whole life. Yes, you can borrow against it, but will be charged interest on your own money. Yes, it does earn interest, but ususally not more than 3%. Yes, if tied to the S%26amp;P, you "may" get more............... you may not.
You will do better in LEVEL TERM for 20 or more years, if you invest the savings or part of the difference from what you would have spent buying whole life.
Also, there is much higher commission for agents to sell anything but term. They do not do what's best for the consumer, but for their own pockets, as they will get a percentage of what you pay year after year after year, as long as you pay this policy. You will help them in their retirement.
I got into insurance this year, then got out of it, due to its deceptive practices, and unbelievable contradictions.
Reply:Well, here's what you do. Look at the cost of the term insurance, then look at the cost of the equity indexed life insurance. Now, subtract the term from the equity indexed life premium, and pretend you're investing it at 10% for 20 years, use this calculator: http://www.msfinancialsavvy.com/calculat...
Now, see how much of the value you're paying in to the equity indexed life actually goes to investment. Um, you're going to be WAY WAY WAY ahead - like have 10X as much money - if you go for term/invest the difference.
The people that are happy with their equity indexed life are thinking, "wow, I'm getting 10% on my cash value!" when they should be thinking, "wow, only 10% of what I actually pay in goes to cash value, which means I"m paying about 7X as much as I should for this life insurance!"
Using life insurance as an investment tool is for people who are really bad at math. Life insurance is NOT a good investment tool - the vast majority of the money it makes goes to the insurance company, and the agent.
Anyone? Thanks.
What is the truth about cash value life insurance?
It's amazing to me that almost every time I see a question about life insurance, I see most people saying buy term and invest the difference. I also see a lot of folks try to compare cash value life insurance to an investment. This is awful.
Obviously I can't explain everything, but here is a list of the most common lies and misconceptions about life insurance:
http://www.twintierfinancial.com/article...
Anyway...before I go any further, I have to say this because it really bugs me that so many "experts" are confusing everyone else: cash value life insurance is not an investment.
IT IS NOT AN INVESTMENT.
It is a "life insurance death benefit with a savings component.". Savings component, not "investment component". Savings. There is a big difference.
What do typical cash value policies pay? 1-2% up to maybe 4% or 5% if you're lucky after commissions and sales charges. What do bank CDs pay? 1-2% up to maybe 4%, maybe 5% if you're lucky. Do you see any similarities?
Hardly ever do I hear the "term and invest the difference" folks talk about the FACT that about 1% of term policies ever pay a claim. That's one of a few reasons term insurance is so cheap.
They also live in a fantasy world where mutual funds will pay you 15% a year and you will never lose money. In retirement, you have many hundreds of thousands of dollars, but you will be either un-insurable (because you are too old) or the cost of insurance will be too high. This is OK according to some because you have all those hundreds of thousands of dollars and you don't need life insurance. They forget about what the IRS and lawyer fees/probate will do to all that money after you die.
The problem with the term and invest the difference approach is that you have 100% of your money in the stock market. What happens if the market takes a dive right before you are ready to retire. Suddenly, it doesn't matter how "smart" you were with your money. Do you remember the post 2000 crash?
Now, having said that, I don't think that you need to put every dime you have into a life insurance policy. They are long-term contracts, so they take 20 years or so to show their true value.
I hate to say it, but it sounds like there are just way too many people out there that have bought into Suze Orman's and Dave Ramsey's B.S.. That's too bad, because they are very well respected authorities in this industry and yet some of the stuff they are telling folks is absolutely false and I've proven it over and over again.
Anyway...a lot of these equity indexed life insurance policies are universal life insurance, which is basically a term insurance component married to a cash value account.
Some individuals think these equity indexed insurance policies are very complicated, but they are actually pretty easy to understand. The policy pays interest based on the upward movement of the stock market. It's then credited to your policy cash values use one of several formulas. The formula is what really determines how much you can potentially earn, and this is where a good advisor or insurance agent can be invaluable.
All an index represents is a number used to measure the general behavior of stock prices by measuring the current price behavior of a representative group of stocks in relation to a base value. The Dow Jones, for example, measures 30 of the largest and most established companies in America; often referred to as “blue chip” companies. It consists of companies like Wal-Mart, and Microsoft. The S%26amp;P 500, on the other hand, measures 500 large cap companies, most of which are American.
To make an equity indexed life insurance contract work, there needs to be two components: bonds (or bond-like instruments) and index call options. A bond is a debt instrument - a loan if you will - made by the Government or a corporation to another party, usually an institution like a bank or a life insurance company. These pay a fixed rate of return. If the bond is going to pay (i.e. if the debtor - the Government or the corporation - does not default on the bond) it will pay the stated interest rate. There is no question about what the interest rate will be, only IF they will pay.
An index call option is a stock option. A stock option is the right - but not the obligation - to buy or sell stock for a preset price (which is set when the option is purchased). There are two types of options: call options and put options. A put option is the right to sell stock at a preset price, and a call option is the right to buy stock at a preset price. So, for example, if you thought that a company’s stock was set to gain value, but you weren’t 100% sure that it would, you could buy a call option for much much less than buying the actual stock. Essentially, you are able to control a large amount of stock with very little money up front. You don’t actually own the stock and you don’t ever have to buy the stock, which is what gives you protection if the stock doesn’t do as well as you expected. However, there is an expiration for every option. And...the longer the expiration date, the more expensive the option will cost.
An index call option is a call option on a stock index - usually the S%26amp;P500 stock index. Banks and insurance companies are able to use a very precise mix of bonds (to guarantee the contract owner’s principal plus a small amount of appreciation) and index call options (to capture the upside potential of the stock market) to produce a new type of contract that gives the contract owner the upside potential of the stock market, without any of the downside risks associated with a direct investment in the stock market.
To make sure that you don't get "taken" or pay excessive commissions to the insurance agent, tell the insurance agent to "solve for the face amount". They should know what this means. If they give you a funny look, or say that they don't know what you're talking about or try to talk you out of that idea, get another agent.
Solving for the face amount means you take a dollar amount you want to set aside, and you buy the MINIMUM amount of death benefit you can possibly buy for that specific dollar amount. The MINIMUM amount of death benefit, not the maximum. This ensures that you get the most bang for your buck. Because most of these policies are universal life insurance, you might be surprised at how much insurance you can actually get buying the policy this way.
It will cut into the agent's commission, reducing it sometimes by quite a bit, but it's the only way to really cheapen the cost of insurance and maximize the amount of cash value you get back on a permanent policy. Not all agents and advisors are out to "take you for a ride" so to speak, so be careful who you listen to.
You should divide yourself into two parts: savings and investments. Stick to life insurance for long-term savings, or a high yield savings account for a way to help save money short term.
Then...diversify. You don't need to put every last dime into an insurance policy or saving account. Buy some no-load mutual funds, stocks, and learn how to invest.
The "buy term and invest the difference" crowd are saying something like this: "Buy dirt cheap insurance, and invest in mutual funds (maybe some stocks). You'll earn 10-15% and you'll be set for life."
I say this: "Instead of trying to make 100% of your money earn 10% or more, take 80-90% of your money and put it into a safe place, like cash value life insurance, and then use the remaining 10-20% to buy speculative investments and try to earn 20%, 30%, 50% or more.
Learn everything you can about investing in gold, IPOs, energy stocks, mining stocks, etc. for that 10-20%. You won't be putting 100% of your money at risk that way.
But now I'm moving off topic. The equity indexed life insurance is a good option depending on what you want or need it for. It's permanent life insurance protection with a *savings*, not investment, savings component.
Reply:I find it very interesting that the "asker" picked this answer as the best, when by far the most common answer was different than this one. Without going beyond what is one the thread, I have to wonder if there is a connection between the "asker" and the "answerer". Report Abuse
Reply:Almost all financial advisors who do not get a commmission from the products you purchawe prefer term life insurance to whole life because you can buy much more insurance for each premium dollar. Generally, the consenus is that people can invest their remaining dollars more efficiently than the return they get in the cash surrender of the whole life policy.
Attached is a link that explains the equity indexed life insurance idea. It looks as if the policies offer the insured to participate in some of the upside of the stock market while in essence also providing protection against loss in the market.
These plans apear to have many potential variations in them. One variation is what is the percent of the market percentage increase that the insured gets credited. Some policies have a limitation of 50% others are 80%. So, for example, if ther stock index gets a 15% return, the insured gets either 7.5% or up to 12% of the return. However, the policies also have a maximum return cap such as 10%. If the policy has that cap, then the cash surrender value is limited to a maximum 10% increase even if the market increase was 15% (and even if you have an 80% participant policy which would normally let you get a 12% return if there were no cap).
The downside protection will vary as well. Some insurers offer a guaranteed minimum return of, say 2%, but others say the minimum is 0% (which applies if the market has negative return for the year).
One insurance company whose literature I read says that the market return is based on the S%26amp;P 500, a nice index, but it excludes the dividende component of the stock return. Since the average dividend yield on the S%26amp;P 500 is in the area of 1.5%, this gives the insurer another 1.5% in which the insured does not participate. Historically, dividends are a large percentage of total stock market returns, so the market effect of excluding dividends could be a significant drag on the market return of the cash surrender value. The insureer also had the power to change some items like the interest cap rate and so on.
Based on what I have read, the premiums are likely to be higher for this product since the insurer is surely buying some market risk protection for guaranteeing some market rate of return and a minimum return.
It is very clear to me that you have to make sure you understand the idea of what index the policy is tied to (S%26amp;P 500 for example), what the market participation percentage is (do you get 50% or 80% of the market return as your return), whether there is an annual return cap whic further limites the market return, whether or not dividends on stocks are included in the stock index return and what the minumum return rate is. And compare premiums for different options (50% vs. 80%, diferent levels of guaranteed minimum return, etc.), including term insurance.
The whole package is likely to be much more conusfing and hard to evaluate than a normal insurance policy.
Personally, I have always preferred term insurance since I can get it for less cost and I invest my own money as I wish.
Reply:Make sure you do not buy any equity indexed annuity. The story sounds good , make money when the market is up and never lose money when the market is down. In the long run the fee's and hidden costs kill the contract. Also there are usually crazy surrender charges like 19 years. If you buy cash value life insurance I would go with 3 options
1. Whole Life
2. Term
3. Universal Life with a Secondary Guarantee ( Like a Infinite term) Not Flexible though
Reply:Term is much less expensive, up to 1/10th as much as whole life, or its variations. Term is also like renting, you get nothing in return, unless you die during the term period, and your heirs profit. It is pure family protection.
Whole life means you pay for insurance............. your whole life. Yes, you can borrow against it, but will be charged interest on your own money. Yes, it does earn interest, but ususally not more than 3%. Yes, if tied to the S%26amp;P, you "may" get more............... you may not.
You will do better in LEVEL TERM for 20 or more years, if you invest the savings or part of the difference from what you would have spent buying whole life.
Also, there is much higher commission for agents to sell anything but term. They do not do what's best for the consumer, but for their own pockets, as they will get a percentage of what you pay year after year after year, as long as you pay this policy. You will help them in their retirement.
I got into insurance this year, then got out of it, due to its deceptive practices, and unbelievable contradictions.
Reply:Well, here's what you do. Look at the cost of the term insurance, then look at the cost of the equity indexed life insurance. Now, subtract the term from the equity indexed life premium, and pretend you're investing it at 10% for 20 years, use this calculator: http://www.msfinancialsavvy.com/calculat...
Now, see how much of the value you're paying in to the equity indexed life actually goes to investment. Um, you're going to be WAY WAY WAY ahead - like have 10X as much money - if you go for term/invest the difference.
The people that are happy with their equity indexed life are thinking, "wow, I'm getting 10% on my cash value!" when they should be thinking, "wow, only 10% of what I actually pay in goes to cash value, which means I"m paying about 7X as much as I should for this life insurance!"
Using life insurance as an investment tool is for people who are really bad at math. Life insurance is NOT a good investment tool - the vast majority of the money it makes goes to the insurance company, and the agent.
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