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	<title>Personal Finance Questions and Answers for Young Professionals &#187; General</title>
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	<description>investing, money, credit card debt, 401k, roth ira, credit cards, make money, personal finance, savings, retirement planning, free money, roth ira contribution, financial advice, free financial advice, online financial advice, savings account, money market, roth ira rules</description>
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		<item>
		<title>How hard is your money working?</title>
		<link>http://moneyanswertree.com/archives/485/how-hard-is-your-money-working/</link>
		<comments>http://moneyanswertree.com/archives/485/how-hard-is-your-money-working/#comments</comments>
		<pubDate>Sat, 19 Sep 2009 16:09:42 +0000</pubDate>
		<dc:creator>pbucelwicz</dc:creator>
				<category><![CDATA[General]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[cash back]]></category>
		<category><![CDATA[savings]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/?p=485</guid>
		<description><![CDATA[I thought it would be interesting to share how I&#8217;ve been milking free money so far this year. Every little bit helps and you can see how all the interest and cash back add up. Here&#8217;s a list of my effortless income/savings on the side. Bank Name Type Amount Notes Ally Bank Interest $198.29 MMA [...]]]></description>
			<content:encoded><![CDATA[<p>I thought it would be interesting to share how I&#8217;ve been milking free money so far this year. Every little bit helps and you can see how all the interest and cash back add up. Here&#8217;s a list of my effortless income/savings on the side.</p>
<p><br/></p>
<table class="listings">
<thead>
<tr class="blue">
<th>Bank Name</th>
<th>Type</th>
<th>Amount</th>
<th>Notes</th>
</tr>
</thead>
<tbody>
<tr>
<th class="column1"><a href="http://moneyanswertree.com/archives/471/ally-bank-review/">Ally Bank</a></th>
<td>Interest</td>
<td>$198.29</td>
<td>MMA and Savings</td>
</tr>
<tr class="odd">
<th class="column1">Citi Bank</th>
<td><a href="http://moneyanswertree.com/archives/166/the-best-gas-rewards-credit-cards/">Shell Gas Rebates</a></td>
<td>$295.37</td>
<td>5% cash back on Shell Gas</td>
</tr>
<tr>
<th class="column1"><a href="http://moneyanswertree.com/archives/439/4-dollars-away-from-chase-50-dollar-bonus/">Chase Freedom</a></th>
<td>Ultimate Rewards</td>
<td>$272.11</td>
<td>Everyday cashback credit card</td>
</tr>
<tr class="odd">
<th class="column1">Chase</th>
<td>Amazon.com rewards</td>
<td>$16.91</td>
<td>3% back off Amazon.com purchases</td>
</tr>
<tr>
<th class="column1">Discover</th>
<td>OpenRoad</td>
<td>$81.70</td>
<td>5% off <a href="http://finance.yahoo.com/q/bc?s=AAPL" class="quote" onmouseover="sqttShowQuote( 'AAPL' )">Apple<span class="AAPL" ></span></a>.com through <a href="http://moneyanswertree.com/archives/353/save-extra-while-shopping-online/">shopdiscover</a></td>
</tr>
<tr class="odd">
<th class="column1">Charles Schwab</th>
<td>Interest/Dividens</td>
<td>$8.27</td>
<td>Interest checking and Brokerage account</td>
</tr>
<tr>
<th class="column1"></th>
<td><b>Total</b></td>
<td><b>$872.65</b></td>
<td></td>
</tr>
</tbody>
</table>
<p><br/><br />
My money is small time hustling. Im on track to having almost $1000 extra dollars this year. <b>How are you doing this year?</b> Let me know if you have any questions about this in the comments below. </p>
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		<item>
		<title>401K Plan Question</title>
		<link>http://moneyanswertree.com/archives/380/401k-plan-question/</link>
		<comments>http://moneyanswertree.com/archives/380/401k-plan-question/#comments</comments>
		<pubDate>Thu, 19 Feb 2009 16:22:32 +0000</pubDate>
		<dc:creator>rosa</dc:creator>
				<category><![CDATA[General]]></category>
		<category><![CDATA[Retirement]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/archives/380/401k-plan-question/</guid>
		<description><![CDATA[The company my spouse works for has their 401K set up like this: 50% up to 4% of your salary, after 2 years of service they will contribute 20% on anything over the 4%, 3 years $40, 4 years 60% 5 years 80% and 6 years and over 100%. Is this legal? It  doesn&#8217;t make [...]]]></description>
			<content:encoded><![CDATA[<p>The company my spouse works for has their 401K set up like this: 50% up to 4% of your salary, after 2 years of service they will contribute 20% on anything over the 4%, 3 years $40, 4 years 60% 5 years 80% and 6 years and over 100%. Is this legal? It  doesn&#8217;t make any sense to me.</p>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Think its a good time to Dollar-Cost Average?</title>
		<link>http://moneyanswertree.com/archives/297/think-its-a-good-time-to-dollar-cost-average/</link>
		<comments>http://moneyanswertree.com/archives/297/think-its-a-good-time-to-dollar-cost-average/#comments</comments>
		<pubDate>Fri, 31 Oct 2008 14:29:03 +0000</pubDate>
		<dc:creator>pbucelwicz</dc:creator>
				<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/?p=297</guid>
		<description><![CDATA[The markets have dropped about 40% since I made most of my initial investments. Think its a good idea to double up my investments now to cut my Dollar-Cost Average in half almost? With the prices so low I feel like I shouldn&#8217;t miss this opportunity. Or am I just being greedy and should put [...]]]></description>
			<content:encoded><![CDATA[<p>The markets have dropped about 40% since I made most of my initial investments. Think its a good idea to double up my investments now to cut my Dollar-Cost Average in half almost?</p>
<p>With the prices so low I feel like I shouldn&#8217;t miss this opportunity. Or am I just being greedy and should put my money somewhere safer?</p>
<p>V, NVDA, AAPL are my current holdings.</p>
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		<slash:comments>7</slash:comments>
		</item>
		<item>
		<title>Fed joins 5 central banks &#8211; cuts 1/2 point and cites &#8216;intensification&#8217; of crisis.</title>
		<link>http://moneyanswertree.com/archives/285/fed-joins-5-central-banks-cuts-12-point-and-cites-intensification-of-crisis/</link>
		<comments>http://moneyanswertree.com/archives/285/fed-joins-5-central-banks-cuts-12-point-and-cites-intensification-of-crisis/#comments</comments>
		<pubDate>Wed, 08 Oct 2008 13:01:17 +0000</pubDate>
		<dc:creator>sergik12</dc:creator>
				<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/?p=285</guid>
		<description><![CDATA[NEW YORK (CNNMoney.com) -- The Federal Reserve, working in coordination with other central banks worldwide, enacted an emergency interest rate cut on Wednesday. 

The Fed lowered its fed funds rate by half of a percentage point to 1.5%. The central bank's statement said the move was necessary because of the worsening crisis in global financial markets.

"The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability," the Fed said.

]]></description>
			<content:encoded><![CDATA[<p><a href="http://money.cnn.com/2008/10/08/news/economy/fed_move/index.htm?cnn=yes">Full Story</a></p>
<p>The Fed tried doing this a few months back but instead of lowering rates European central banks actually raised them. I guess they all learned to play ball. </p>
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		<slash:comments>0</slash:comments>
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		<title>Obama or McCain: Who&#8217;s The Better Choice For Young America</title>
		<link>http://moneyanswertree.com/archives/222/obama-or-mccain-whos-the-better-choice-for-young-america/</link>
		<comments>http://moneyanswertree.com/archives/222/obama-or-mccain-whos-the-better-choice-for-young-america/#comments</comments>
		<pubDate>Tue, 16 Sep 2008 16:27:54 +0000</pubDate>
		<dc:creator>pbucelwicz</dc:creator>
				<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/?p=222</guid>
		<description><![CDATA[I was talking to one of my peers recently about the candidates for president this year and which one he thought would be the better choice as a young professional. Here is what he said: me: Why is Obama a better choice as a young professional? Jared: Because he understands young people. This is evidenced [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://moneyanswertree.com/wp-content/uploads/2008/09/obama_mccain_0212.jpg" alt="" title="obama_mccain_0212" width="360" height="235" class="alignnone size-full wp-image-223" />I was talking to one of my peers recently about the candidates for president this year and which one he thought would be the better choice as a young professional. Here is what he said:</p>
<p>me: <strong>Why is Obama a better choice as a young professional?</strong></p>
<p>Jared: Because he understands young people. This is evidenced by the fact that he raised $66 million in the month of August, largely through online fundraising. Obama understands the importance of internet, just like young professionals, and is able to use it to his advantage &#8211; unlike John McCain who openly admits he&#8217;s never &#8220;done a <a href="http://finance.yahoo.com/q/bc?s=GOOG" class="quote" onmouseover="sqttShowQuote( 'GOOG' )">Google<span class="GOOG" ></span></a>.&#8221;</p>
<div style="float:left;border: 1px dotted #000000;padding:5px;margin-right:10px;">
Note: There is a poll embedded within this post, please visit the site to participate in this post's poll.
</div>
<p>Obama also wants universal health care now. Young professionals jump around a lot between industries &#8211; they are trying to find their place in the work world.  It becomes harder to do this if you have to worry about things like benefits and health insurance. If we all had health insurance, someone like you could take more chances, and maybe jump into that start-up. You could pursue your dreams like you always wanted to.</p>
<p>Barack is also brilliant &#8211; a Harvard Law graduate &#8211; he pays more attention to both sides of the issues, and would be more focused on diplomacy and less likely to start or prolong unnecessary wars. That right there should let you know he&#8217;d be a better leader for young professionals. People like you and I who are trying to get our careers started &#8211; we have no interest in things like war. That trillion dollars that we threw away in Iraq &#8211; that money could be spent right here at home, stimulating our economy and opening up job opportunities.</p>
<p>We also are not in that top .01% economic category that Republicans actually represent. We&#8217;re also not of the religious right. We support progress, and change &#8211; we represent the future, and that&#8217;s what Obama represents.</p>
<p>Additionally, Barack Obama supports renewable energies, and true investment in those technologies. He&#8217;s aiming to free our generation from having to raise our kids in the throws of a global warming crisis. Obama will forge ahead into the future, and bring these technologies to the forefront. He see&#8217;s where we need to go &#8211; and he&#8217;s willing to take us there.</p>
<p>Everyone needs to understand that this election is clearly a choice between the past and the future, and I suggest we proceed, onwardly and upwardly into the &#8220;next.&#8221;</p>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>never independently invested</title>
		<link>http://moneyanswertree.com/archives/188/never-independently-invested/</link>
		<comments>http://moneyanswertree.com/archives/188/never-independently-invested/#comments</comments>
		<pubDate>Fri, 25 Jul 2008 01:43:40 +0000</pubDate>
		<dc:creator>berg1982</dc:creator>
				<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/archives/188/never-independently-invested/</guid>
		<description><![CDATA[I&#8217;ve never invested on my own, and I am not familiar on how things work. I am wondering what would happen if I were to invest in say wamu, and they were to get bought out. Would my shares just get bought out also, or would it depend on if the new owners/ management planned [...]]]></description>
			<content:encoded><![CDATA[<p>I&#8217;ve never invested on my own, and I am not familiar on how things work. I am wondering what would happen if I were to invest in say wamu, and they were to get bought out. Would my shares just get bought out also, or would it depend on if the new owners/ management planned on absorbing the company or just restructuring it.</p>
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		<slash:comments>2</slash:comments>
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		<item>
		<title>What do people want to read more of?</title>
		<link>http://moneyanswertree.com/archives/125/what-do-people-want-to-read-more-of/</link>
		<comments>http://moneyanswertree.com/archives/125/what-do-people-want-to-read-more-of/#comments</comments>
		<pubDate>Mon, 24 Mar 2008 12:27:10 +0000</pubDate>
		<dc:creator>pbucelwicz</dc:creator>
				<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/archives/125/what-do-people-want-to-read-more-of/</guid>
		<description><![CDATA[Are people more interested in reading about investing and market news? Or are people more interested in financial advice and tips?
The recent activity on the site is more about investments and certain stocks. That seems to be the most popular so far. What are the readers interested in?
]]></description>
			<content:encoded><![CDATA[<p>Are people more interested in reading about investing and market news? Or are people more interested in financial advice and tips?</p>
<p>The recent activity on the site is more about investments and certain stocks. That seems to be the most popular so far. What are the readers interested in?</p>
<img src="http://moneyanswertree.com/?ak_action=api_record_view&id=125&type=feed" alt="" />]]></content:encoded>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>solution for the housing crisis</title>
		<link>http://moneyanswertree.com/archives/123/solution-for-the-housing-crisis/</link>
		<comments>http://moneyanswertree.com/archives/123/solution-for-the-housing-crisis/#comments</comments>
		<pubDate>Thu, 20 Mar 2008 15:04:01 +0000</pubDate>
		<dc:creator>vadim.vintsevsky</dc:creator>
				<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/archives/123/solution-for-the-housing-crisis/</guid>
		<description><![CDATA[So right now there are a ton of houses out there that are actually worth less than the debt that people owe on them. Since lenders arnt seeming to restructure the mortgages, why wouldn&#8217;t people default on their loans if they are expected to pay back more than the house is worth. Possible solution: Since [...]]]></description>
			<content:encoded><![CDATA[<p>So right now there are a ton of houses out there that are actually worth less than the debt that people owe on them. Since lenders arnt seeming to restructure the mortgages, why wouldn&#8217;t people default on their loans if they are expected to pay back more than the house is worth.</p>
<p>Possible solution:</p>
<p>Since the choice of lenders is really to take a small loss by restructuring mortgages or be stuck with property, a wide spread resturcturing needs to occur.</p>
<p>What if the FED came in and bought all these restructured Mortgages. Then bundled them up and sold them, but not how they are being sold now. The buyer of these bundles will recieve all capital gain on the sold house.  The owner of the house gets back all equity that he put into it, and the owner of the security gets all the gains. The home owners would probably agree to this because its either this or their house gets forclosed.</p>
<p>And large institutions, that are fine witha  very long term investment, would take these bundles because a possibilty for very large gains, housing market will rebound eventually.</p>
<p>Obviously this is a very general solution. What does everbody think?</p>
<p>This is a theory my corporate finance teacher had. He explained it very well in class, and everything anybody said he quickly proved on how this would work. I didnt do a great job explaing it, but feel free to respond with faults int he system and Ill see if I can answer them how my teacher answered.</p>
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		<slash:comments>11</slash:comments>
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		<item>
		<title>Is the crisis over or has it just begun?</title>
		<link>http://moneyanswertree.com/archives/121/is-the-crisis-over-or-has-it-just-begun/</link>
		<comments>http://moneyanswertree.com/archives/121/is-the-crisis-over-or-has-it-just-begun/#comments</comments>
		<pubDate>Wed, 19 Mar 2008 13:39:48 +0000</pubDate>
		<dc:creator>Gabadoo</dc:creator>
				<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/archives/121/is-the-crisis-over-or-has-it-just-begun/</guid>
		<description><![CDATA[Although, for some of you, the crisis never happened right? Everything has been hunky dory, no reason to panic. Well, I&#8217;d like to talk to the other people, the one&#8217;s who at least listened to reason and fact. So we had/have a credit crisis. So the fear of the crisis was that due to the [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://www.iftheshoefitz.com/wp-content/uploads/071231_fox_news_ron_paul.gif" alt="" />Although, for some of you, the crisis never happened right? Everything has been hunky dory, no reason to panic. Well, I&#8217;d like to talk to the other people, the one&#8217;s who at least listened to reason and fact.</p>
<p>So we had/have a credit crisis. So the fear of the crisis was that due to the intermingling of the banks and brokerages assets with each other, if bank (A) fails and thus pulls capital from bank (B), bank (B) will have to either find more capital or it too will fail. If bank (B) fails, it will pull capital from bank (C) and so on. Each time this capital is pulled, since it is leveraged, it will lead to deflation as loans across the board will be instantly called in.</p>
<p>OK I&#8217;m with ya so far.</p>
<p>So the Fed says &#8216;this is eerily like the 1929, when investors were heavily margined and a succession of margin calls caused the great crash. We must make sure that these banks/brokerages don&#8217;t fail by constantly adding liquidity to the market. Hell let&#8217;s open up a TERM AUCTION FACILITY and just auction off money to banks! Worst case scenario, we create excess liquidity and inflation.</p>
<p>OK I&#8217;m with you still, but now what. I mean, the market seems to (at least for the moment) be pricing in the end of credit collapse hell, but what about that inflation? Rates are low, everybody and their butthole brother can borrow money and buy cheap homes, we&#8217;re getting government checks in the mail in a month (paid for by borrowing), have we sacrificed the future for the now?!?</p>
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		<slash:comments>12</slash:comments>
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		<title>Tax-Efficient Funds</title>
		<link>http://moneyanswertree.com/archives/115/tax-efficient-funds/</link>
		<comments>http://moneyanswertree.com/archives/115/tax-efficient-funds/#comments</comments>
		<pubDate>Tue, 11 Mar 2008 15:43:36 +0000</pubDate>
		<dc:creator>sergik12</dc:creator>
				<category><![CDATA[General]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/archives/115/tax-efficient-funds/</guid>
		<description><![CDATA[I have just finished my taxes and lucky for me I did not have to pay any capital gains taxes on my mutual fund investments. The funds that I have selected charge very low upfront fees and minimize their turnover. To be honest one of my colleagues schooled me on mutual fund investing about 2 [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://www.npbs.co.uk/images/tax-efficient.gif" alt="" />I have just finished my taxes and lucky for me I did not have to pay any capital gains taxes on my mutual fund investments. The funds that I have selected charge very low upfront fees and minimize their turnover. To be honest one of my colleagues schooled me on mutual fund investing about 2 years ago and I’m very grateful. I know not to pick high front load funds with high fees but most people don’t. I read a very good article in WSJ today on Tax-Efficient Funds by Rob Wherry. He suggests screening for turnover when you select your mutual fund investment. This makes perfect sense since high turnover may cause you to have capital gains and pay taxes on those gains and that will only cost you to lose money on your investment. Here is the article and the funds his screen produced:</p>
<p><a href="http://online.wsj.com/article/SB120519899247126079.html?mod=pj_main_hs_coll"></p>
<p>http://online.wsj.com/article/SB120519899247126079.html?mod=pj_main_hs_coll</p>
<img src="http://moneyanswertree.com/?ak_action=api_record_view&id=115&type=feed" alt="" />]]></content:encoded>
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		<slash:comments>2</slash:comments>
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