Charles asks…
How do i help my brother and sister to get back with my dad?
I am 13 and live with my dad after my mum and dad split up. Recently my dad has had to sign on the daul because he is having trouble making money and looking after us (he make money trading stocks,comodities,currencies and bonds). What I want to know is if the worst comes to the worst how do i get back with my father. Do I run away, do I just be good and see if I get to go back? Also if me, my brother and sister are seperated how do i get us back together?
P.S dont give any crap about not having to worry about it and that it is for my own good also don’t say that I have been brain-washed by my dad because I am an independent and intelligent kid, i wasn’t asked to do this but I did it for what I know is best for me, my brother and sister.
BTW i am worried about social services taking me and me not being able to see my dad
BTW i am worried about social services taking me and me not being able to see my dad
financi4 answers:
You wanting your bro, sis,dad and yourself to be one big happy family is one thing.
But do they? That’s is the question you should be asking them, not some strangers on the net
you may have to accept the fact that you family is no more
George asks…
Need help with my Savings Retirement Plan at age 24?
I’ve got some stocks and money in a Roth 401k. I also hav about $10k on the side to “cushion” on. I told my friend I want to retire with $500k/yr at the age of about 60. He suggest I should not only restrategize whats kind of stocks i have invested, but also consider putting away in a Roth IRA & Universal Whole Life Insurance plan. The Insurance part kind of worries me, cause i have no kids or debt. I might someday, but it wont be for atleast another 5-10 yrs. the only thing that appealed to me about the insurance was that I could take a loan out if need to buy a car or make the down payment on a home at a very low loan rate, and that it wont be taxed. Also, making an interest rate of 11% seemed nice, especially since it beats the hell outta bonds. I spoke to a friend about it, and i heard you can do the same for IRA’s & 401k’s, making me doubly confused. How should I invest my money and why??
financi4 answers:
Whole life insurance, is generally a poor investment. Yeh, they say they are paying 11%, but what is the expense on this policy to get that 11%??
Question for you here, why do a roth IRA?? Unless you are maxing out your roth 401k, why not just increase your contribution to it (401k)??
Another question – why do a roth 401k at all?? Is a regular 401k, not available to you?? I guess the reason I ask, is for myself, I like the decrease in taxes, I get from contributing to a regular 401k. But of course I don’t know what your income is, and maybe you don’t mind paying the taxes up front??
For myself, I do 15k into my 401k at work. Anything left over, I either put into my saving account (emergency fund). And then I may contribute to my brokerage account.
Donald asks…
Where do I invest the money for my 401K?
I am 51, I have 345K in my 401K. Too late after the market dropped, I took it and moved it to the ‘safe’ stable value. Now, months after the market has gone back up, I’m sitting down to figure out where to put the money and I really have no idea. JP Morgan says 68% should be in stocks, I don’t even know which ones stocks are. Here are my choices:
JPMorgan Stable Value
PTTRXPIMCO Total Return-Inst
ACITXAmerican Century Inflation-Adjusted Bond-Inv
RLBFXAmerican Funds Balanced-R5
DODGXDodge & Cox Stock
FCNTXFidelity Contrafund
Barclays Global Inv S&P 500 Equity Index-Q
RMCVXRiverSource Mid Cap Value-R4
RPMGXT Rowe Price Mid Cap Growth
NBGIXNeuberger Berman Genesis-Inst
TASVXTarget Small Cap Value Portfolio
JDSCXJPMorgan Dynamic Small Cap Growth-Select
RERFXAmerican Funds EuroPacific Growth-R5
STLAXBarclays Global Inv LifePath Retirement-I
STLBXBarclays Global Inv LifePath: 2010-I
STLCXBarclays Global Inv LifePath: 2020-I
STLDXBarclays Global Inv LifePath: 2030-I
STLEXBarclays Global Inv LifePath: 2040-I
What the heck should I do? Risk info? Well, I was laid off in Mar 2009, owe 300K on a 1mil home, have 2 kids aged 8 and 10 (one special needs) and an adoring wife. Needs are simple, just pay the mortgage and afford insurance and groceries. I would like the 401K to grow, I don’t want much risk, and the safe stable growth is too slow.
financi4 answers:
You’ve done the exact opposite of what you should have done like many individual investors. While the market was riding high you were buying stock funds like crazy. The market crashed so you sold out. Bought high, sold low. Absolutely crazy. And now that the market has run up, you missed the boat and want to buy high again after which if the market crashes again, you’ll most likely sell again, not having learned anything from your past experience. So what kind of advice to give a person like you? Pick a diversified set of mutual funds and leave it alone.
I will give you one little tip. Obama’s crazy spending and socialistic policies will eventually crash our dollar. Investing in gold stocks and other natural resources, oil, gas, metals, etc. Will do good in the long run if you buy my scenario. Good luck.
Richard asks…
WHAT’S THE BEST WAY TO START SAVING MONEY FOR MY KID COLLEGE PLEASE?
I’m a single mom my daughter will be 3 years old in Dec since she was born I open a saving account under her name and I make sure $100 go directly each month in it, is there a better way to start saving money for her college? I was not born here I really don’t know too much about things like that such as (bond or stock) whatever they have here. Please help me.
I also have a mortgage (that’s the only loan right now), is it better to pay more monthly than saving for college please?
Merci beaucoup!
financi4 answers:
You’re actually doing Alright !!! For NOW, keep on saving that $100 a month towards your little Girls College Account… And any EXTRA $$$ you ever get- put towards putting extra on your Mortgage Payment when you can… The MORE You can Save AND Pay Off- the happier you’ll be ! Adieu’ !
Daniel asks…
I feel so out of place in this world?
So let me tell you a bit about myself, I do not fit the traditional standards of what Western Society fits as a “Normal Person”, I am very metro/Euro style type of man who is into Philosophy, Art, Fashion, and Business. I am still fairly young (18) and I feel as if I am far too mature for my peers.. I look at how the world works in its entirety and it absolute sickens me.
I am not the type of person to go out and party, drink, and have sex with a bunch of girls (which is basically the only thing people like to do around here). Even though I am an atheist, I have some pretty strong morals and I don’t like seeing how men and women act now-a-days. I have basically given up on finding love, since our society has turned into a sex crazed jumbled mess.. It seems like all the good girls are gone. I am still a virgin, but I have had many opportunities to lose it. I chose not to, because I actually want something meaningful, but nobody seems to want this anymore. I feel so out of place, since as my friends want to go out and party and do stupid stuff, I am spending my time with my family’s friends who are all much older (40-65), learning about how they reached their financial success (They are very wealthy people).
I’ve grown up as an old fashioned kind of guy, who is extremely ambitious in his goals for great financial success, even at such a young age. My friends almost find me boring because I care more about working on an online business, learning about real estate, and getting into stocks and bonds. While they are all still enjoying their childhood, I am basically growing into adult-hood much earlier than most kids are, and I feel left out because I am living in the mindset of a 30 year old business man, rather than an 18 year old kid, enjoying his life.
financi4 answers:
Give a read to Mark Prophet’s “The Answer You’re Looking for Is inside You;” it has some good keys to success. Some people are simply like yourself…interested in business, finance.
You might be glad to know that a 2011 major study found that if both partners waited until marriage to have their first sexual intimacy, they were much happier. This was true for both religious and nonreligious couples. So, you might also appreciate “For Couples Only,” Shaunti Feldhahn.
Paul asks…
For people who are putting money aside for their child…….?
Did you put the money in a Mutual Fund?
Bond?
or Money Market account?
We are putting money aside for our son that he will not have access to until the age of 18.
My question is;
Which account will collect the most interest throughout the years?
My Grandmother is dead set against the stock market because she was alive during the Great depression and she only puts her money in bonds where they are guaranteed. Unfortunately, there is not a lot of interest collected on the money.
I’m wondering (for the more modern people) what kind of account do you use to put money aside for your baby?
(to get the most out of the money while it sits, and in our best interest when it comes to yearly taxes on the money.)
What kind of account are you using for your child?
My husband is going to talk to our Financial Advisor, but I’m completely confused on all of it, so I’d just like to hear from other moms (and dads) who have set money aside for their kids.
Thanks!
financi4 answers:
Yes, I am a teenager, however I do have answers.
Since your kid can’t touch it for 18 years, I’d recomend government bonds, since a) they double every 9 years after first nine, and b) They’re guaranteed, something you cannot get from the stock market.
Right now my money is tied up in Mutual Funds w/ WaMu, and I am earning about 5-7% a year. So, in 10 years (the time it a bond to double), you should take in approx. 63% on a mutual fund at 5% compounded yearly.
Ken asks…
Can an Ugly crocheted Christmas stocking be fixed!?
I have a question for all you crafty people out there. My mother in law made this stocking for my daughter. It’s an extremely BRIGHT multicolored rainbow Christmas stocking. My daughter is almost 2 years old. It looks like a gay pride stocking! Not that I have anything against gays but this stocking is ugly. Not to mention it’s not Christmasy at all. I have other children and they got nice red, green & white stockings with Santa, Reindeer and snowmen on them. My mother in law also made my other kids stockings. So why she decided to make my 2 year olds like a rainbow is beyond me. I know I sound unreasonable but I can’t help to think it was done on purpose. She didn’t bond well with my baby when she was born and I think she thought we were trying to upstage her favorite grandchild who was born the year before. (my brother in laws son) In fact she very rarely picked my daughter up or interacted with her for the first year of her life. I got the point loud & clear that my daughter would not be as important as her favorite grandson. Although she didn’t say it with words, her actions spoke much louder than words. Especially when the two babies were together with her. Her grandson got her undivided attention and my daughter was hardly even spoken to or given a second glance.
So here is the question. Actually it’s a two part question. Do you think the Christmas stocking was made like that on purpose?
Second – The stocking was crocheted. Can it be fixed?
I don’t want to hurt my husbands feelings & I want my daughter to have a stocking made by her grandmother like her brothers & sisters have. I’d like to have someone take some of the more bright colors out of it and replace it with more green, red and maybe a little white thrown in there also.
Is this something that can actually be done? I’m hoping my husband won’t notice if I have it done after Christmas time. Maybe by next year he won’t remember what it looked like. Even if he does I’m prepared to tell him I had it changed. The whole stocking subject is a sore subject with him. He thinks I’m being to sensitive. I really don’t think it’s being to sensitive to want my daughter to have something nice like that other kids at Christmas. After all she will have this stocking forever.
I’d love some opinions and some advice as well as any ideas on how it can be fixed. I cannot crochet myself so I’ll have to take it elsewhere to see if it can be fixed. I don’t know who or where to go to have something like this done.
financi4 answers:
Hello! My grandma makes the same stockings! Honestly I think maybe she did that on purpose. But who knows? Can you bring it up to her? Maybe say that ur daughter asked why hers looks all different then the rest of the kids? I don’t know why ur mother-in-law would be like that. Kinda evil. If she wont make a new one then tell her you will find someone that will! I’m sure she will make a new one then
Steven asks…
Life plan to get rich…?
I am a senior in highschool who has been ruminating on his possible future options lately, and I have ultimately decided that, in order for myself to be truly happy, I’d have to make lots of money. This is very contradictory to traditional thought that money can not buy happiness and even brings unhappiness at a certain point, however I do believe that money can make ME happy. Maybe not you, but me, yes. I just know that I would be miserable if I were living paycheck to paycheck and couldn’t put my kid through college or take him to the beach. Also, my ultimate life goal is to travel all over the world, which cannot be done on a meager wage. That being said, I’d like others’ opinion on this plan…
1. Go to college and double major in chemical engineering and finance.
-I have talked to finance majors in college and they said that doublemajoring in the two is definitely manageable. The reason i’d do chemical engineering is 1) i want to be an engineer (duh) and 2) They have a high starting salary (around 60k)}
2. I’d get a job and live faaarr below my means for 4 or 5 years while investing about 35-40% of every paycheck into stocks and certificate of deposits, hopefully making well calculated decisions acquired from my finance class. I’d invest some of my paycheck into high-risk stocks and the other portion in very secure funds just so that I don’t throw all of my eggs into one basket only to have the market crash and 4-5 years of investing down the drain
3. Keep investing 10-15% of my paycheck into the investments I realize to be relatively successful thus far while living normally (by this time i should have at least 150k with which i could put a down payment on a decent sized home with whatever family i might have, but if i am living alone, I will probably just keep living below my means and saving up since i really do not have a problem with places some people consider “small”… I actually find them ergonomic”.
4. Check my portfolio by the time im 45-50 and find out i’m a millionaire and can comfortably retire.
-If i had invested 100K into bonds that increased about 5% per year (reasonable, right?) i will have a bit over a million dollars off of investments alone. That calculation was assuming i add about 10k into my investment every year. With that money, i could live very comfortably and even travel the world
How does that sound to everybody? Do you think it is reasonable? If you do not, please explain why.
financi4 answers:
LOL, you sound like me 3 year ago. (I’m now a Undergrad studying Political Science/Statistics)
1. Engineering anything is $$$
2. However, working for someone else is great but will limit yo to what you can earn and how tactful you can work (Your career is not guaranteed, you can be replaced always remember this, whether you are cooperative, intern, or long-term employee.
3. Obtain a position were if you are going to work for a corporation, organization, etc. Make sure you have a flexible position were you hold some form of your own authority and objectives. These positions pay more.
4. If not work for yourself, Secondary Schools lie out of their asses telling you, that ‘team-effort’ and good grades equal success. My friend graduated from finance and works for an insurance firm he gets payed $35 000 with limited benefits and works 55 hours a week.
5. Secondary School produces worker Ants, not leaders, if you want to make $$ you have to be tactful, smart, and liberal thinking regardless what program/degree you pursue. You can make money studying English lol swear.
Robert asks…
What Donald Tsang should do to respond the public anger of 30,000 protesters in January 1, 2010?
I try to make it short to express myself more clearly about how and why Hong Kong sucked under the good for nothing, a fascist, a catholic freak, a liar, a callous man has no compassion to the aged and the kids and the poor. Why Hong Kong becomes so messy under Donald Tsang Yam-kuen’s regime? You should read the SCMP.com first.http://www.scmp.com/portal/site/SCMP/
It is estimated there were between 20,000 to 30,000 protesters gathered in the Central of Hong Kong protesting about Donald Tsang is misrepresenting the Hong Kong public at large.
1) The kids were expressing Tsang’s unconcerned to the poor families in which 400,000 children are living under the poverty line. They don’t have a full meals every day. Many of them are needed to pick up the scraped newspapers and cartons to support their parents and frequently needed to compete or confront with another group of the aged poor. This reflects the Hong Kong social stigma of Hong Kong boasting the income per capita (estimated average of the overall HK employed) of is exceeded HK $ 43,000 per month. If so, how come so many visible poor in Hong Kong? They throw eggs into the mouth of the self made Donald Tsang, s ugly head in the public. Donald Tsang is public accused incumbent chief executive, many are cursed him to drop dead on a daily basis.
2) The main reason for this organized gathering protest is aimed for the universal suffrage for every legislator seat in the Lecgo, including the politicians in every constituency and the suffrage for the chief executive.
3) Many protestors are sought for the immediate release of Liu Xiacbo in front of the Central government liaison office of Hong Kong.
4) A small group of Tsoi Yuen Tsuen Village is opposing the government aided project of Shenzhen-Hong Kong Express Rail. This will destroy their home-stead in the village for decades.
5) Many are protesting those so called functional legislators which are elected by the small circle voting process or simply appointed by the powerful and empowered political body. They can’t recover the loss of the many investors who brought the Lehman Brothers mini bonds which is lost billions. However, Donald Tsang’s relative got the first crack of full compensation from the banks almost one year ago. Is this another kind of conflict interest?
Mant younger groups are demanding for better education, better health services, cheaper housing prices, more low rent public housings for the low income groups.
I can foresee Hong Kong will have the never ending problem of discontent of the majority citizens. Regarless of their social status in the low, middle, or even upper ranks, they all will ask for more. Hong Kong peoples are named as typical greedy, selfish, and fear of losing or reducing the individual assets or possessions.
Hong Kong government have do the followings to strip away the public angers every day.
a) Cut the overall overpaid civil servants salaries ranging from 2% to 60%, depending on how much each individual is overpaid by comparing with the international pay rate standards.The liberal pension funds for the retired civil servants in 2008 is estimated ranging from HK $10,000 to $ 85,000 per month, or 66% of those retiree base salary of the last month service. What a good deal.
b) Establish the universal pension fund of at least HK $ 3,000 per month to replace the present mean fruit fund of HK $ 1,000 per month. Then all those retired ordinary citizens can afford to live in this listed as the number 5 of the most expensive cities to live in this world.
c) The financial think tank must put effort to burst the bubbles in the stock market and real estate. They all should learn it from the best China premier, Zhu Rongli. THis will make HOng Kong becomes a cheaper city to live. http://search.yahoo.com/search;_ylt=A0oGk7yr8T5LJ64AwStXNyoA?p=Zhu+Rongji&fr2=sb-top&sao=1
d) Donald Tsang should play his leading role to axe his own too much overpaid salary from the current HK $ 410,000 per month to at least HK $ 210,000 ( which is probably still higher tha Barack Obama.
The public anger is basically don’t have the foods on the tables. Wage disparities between the workers between the public and private sectors. The are usually compared with 120% to 600% higher for the public sectors (in cluding the public funded organizations hired professionals in financial, education, health and public works to the private sector employees doing the exact identical works.
I can’t stand the messy of the Hong Kong system. Usually, I don’t bitch about the present electorial system. However, Donald Tsang can’t even do above-described the baic needs of the Hong Kong peoples of a, b, c, and d. I would rather to see suffrage in Hong Kong in 2012 then many can vote him out of his office. We can try a better chief executive in the near future to be elected by the true democracy. I am aged 86. I told my nephew and niece to march on the front line in the protest. They did stay in the middle lanes al
They stayed in the middles all the way. Donald Tsang Yum-kuen is being described as a lame duck chief executive and a stupid lamedbrain political leader by a few freelance writers and journalists in Hong Kong that leads a bunch of money graspers of top officials responsible for every ministry. They all with unacceptable report cards rated by the public at large. They all should be sacked and to be replaced by new officials paying 50% to 40% of their current overpaid salaries are ranging from 500% to 600% of officials in most developed countries all over this world. Are they dare compare with the US and UK officials? They certainly not!
financi4 answers:
This is rather lengthly.
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