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	<title>Personal Finance Questions and Answers for Young Professionals &#187; Answers</title>
	<atom:link href="http://moneyanswertree.com/archives/category/answers/feed/" rel="self" type="application/rss+xml" />
	<link>http://moneyanswertree.com</link>
	<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>When will I receive my refund? 2010 IRS e-file Refund Chart</title>
		<link>http://moneyanswertree.com/archives/512/when-will-i-receive-my-refund-2010-irs-e-file-refund-chart/</link>
		<comments>http://moneyanswertree.com/archives/512/when-will-i-receive-my-refund-2010-irs-e-file-refund-chart/#comments</comments>
		<pubDate>Tue, 23 Feb 2010 15:44:25 +0000</pubDate>
		<dc:creator>pbucelwicz</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[e-file]]></category>
		<category><![CDATA[federa]]></category>
		<category><![CDATA[fhbc]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[return]]></category>
		<category><![CDATA[tax]]></category>
		<category><![CDATA[taxes]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/?p=512</guid>
		<description><![CDATA[The IRS e-file refund chart is posting on the irs.gov website. The federal e-file is free, so if you choose to e-file, check the schedule to see when you will receive your return. I had to file by mail because I am filing for the first time homebuyer tax credit (FHBC).]]></description>
			<content:encoded><![CDATA[<p><img src="http://moneyanswertree.com/wp-content/uploads/2010/02/2010-irs-refund-schedule-233x300.jpg" alt="" title="2010-irs-refund-schedule" width="233" height="300" class="aligncenter size-medium wp-image-513" />The IRS e-file refund chart is posting on the irs.gov website.</p>
<p>The federal e-file is free, so if you choose to e-file, check the <a href="http://www.irs.gov/pub/irs-pdf/p2043.pdf">schedule</a> to see when you will receive your return.</p>
<p>I had to file by mail because I am filing for the first time homebuyer tax credit (FHBC).</p>
<img src="http://moneyanswertree.com/?ak_action=api_record_view&id=512&type=feed" alt="" />]]></content:encoded>
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		<slash:comments>4</slash:comments>
		</item>
		<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>
<img src="http://moneyanswertree.com/?ak_action=api_record_view&id=485&type=feed" alt="" />]]></content:encoded>
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		</item>
		<item>
		<title>Why is life insurance important?</title>
		<link>http://moneyanswertree.com/archives/398/why-is-life-insurance-important/</link>
		<comments>http://moneyanswertree.com/archives/398/why-is-life-insurance-important/#comments</comments>
		<pubDate>Thu, 09 Apr 2009 00:58:40 +0000</pubDate>
		<dc:creator>pbucelwicz</dc:creator>
				<category><![CDATA[Insurance]]></category>
		<category><![CDATA[life insurance]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/?p=398</guid>
		<description><![CDATA[I&#8217;ve been hearing a lot about this as an additional investment vehicle. It sounds like it is relatively cheep to take out a large policy while you are still young. I feel like this investment is good to sell for the insurance company because its probably the longest holding period possible. Because you collect when [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://farm3.static.flickr.com/2178/2455016587_f21bba65b1_m.jpg?v=0" alt="" border=0 />I&#8217;ve been hearing a lot about this as an additional investment vehicle. It sounds like it is relatively cheep to take out a large policy while you are still young. I feel like this investment is good to sell for the insurance company because its probably the longest holding period possible. Because you collect when you die. Maybe thats why financial advisors are pushing life insurance so hard on everyone lately. I&#8217;ve also heard from one of my friends who is a financial advisor, that life insurance will soon be required. Now is that different than the life insurance provided by your company, or would you need a privately funded one?</p>
<p>If you put into life insurance now, can you take out the money at any time?</p>
<p>As a young professional, should I be looking into this?</p>
<img src="http://moneyanswertree.com/?ak_action=api_record_view&id=398&type=feed" alt="" />]]></content:encoded>
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		<slash:comments>5</slash:comments>
		</item>
		<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>
<img src="http://moneyanswertree.com/?ak_action=api_record_view&id=380&type=feed" alt="" />]]></content:encoded>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Free Federal E-File: Do Your Simple Taxes Online</title>
		<link>http://moneyanswertree.com/archives/369/free-federal-e-file-do-your-simple-taxes-online/</link>
		<comments>http://moneyanswertree.com/archives/369/free-federal-e-file-do-your-simple-taxes-online/#comments</comments>
		<pubDate>Thu, 12 Feb 2009 15:11:25 +0000</pubDate>
		<dc:creator>pbucelwicz</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[tax]]></category>
		<category><![CDATA[tax return]]></category>
		<category><![CDATA[taxes]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/?p=369</guid>
		<description><![CDATA[You can do your simple federal e-file this year for free and get your taxes back in as little at 8 days. I filed my e-file yesterday and should expect to receive my return by Feb 27th according to the IRS e-file Refund Chart. I used Turbotax Permier edition on my home computer. I used [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://moneyanswertree.com/wp-content/uploads/2009/02/free-e-file.jpg" alt="free-e-file" title="free-e-file" width="284" height="100" class="alignnone size-full wp-image-370" />You can do your simple federal e-file this year for free and get your taxes back in as little at 8 days.</p>
<p>I filed my e-file yesterday and should expect to receive my return by Feb 27th according to the <a href="http://moneyanswertree.com/archives/366/when-will-i-receive-my-refund-2009-irs-e-file-refund-chart/">IRS e-file Refund Chart</a>. I used Turbotax Permier edition on my home computer. I used Turbotax last year as well and it transfered all my data over and made filing that much easier this year. It asked me questions like, &#8220;what has changed from last year?&#8221; It was very helpful to see what I did last year to compare.</p>
<p>You can choose to do your federal taxes for free online. These are the three recommended sites for filing your Federal free e-file.</p>
<table border=0 cellpadding=0 cellspacing=0>
<tr>
<td>
<a href="http://turbotax.intuit.com/" target="_blank"><img src="http://moneyanswertree.com/wp-content/uploads/2009/02/turbotax.jpg" alt="turbotax" title="turbotax" width="144" height="62" class="alignnone size-full wp-image-371" /></a></td>
<td>
<a href="http://www.hrblock.com/" target="_blank"><img src="http://moneyanswertree.com/wp-content/uploads/2009/02/hr-block.jpg" alt="hr-block" title="hr-block" width="241" height="78" class="alignnone size-full wp-image-372" /></a>
</td>
<td>
<a href="http://www.taxact.com/" target="_blank"><img src="http://moneyanswertree.com/wp-content/uploads/2009/02/taxact.jpg" alt="taxact" title="taxact" width="158" height="55" class="alignnone size-full wp-image-373" /></a>
</td>
</tr>
</table>
<p><strong>Let me know if you have any other suggestions!</strong></p>
<img src="http://moneyanswertree.com/?ak_action=api_record_view&id=369&type=feed" alt="" />]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>When will I receive my refund: 2009 IRS e-file Refund Chart</title>
		<link>http://moneyanswertree.com/archives/366/when-will-i-receive-my-refund-2009-irs-e-file-refund-chart/</link>
		<comments>http://moneyanswertree.com/archives/366/when-will-i-receive-my-refund-2009-irs-e-file-refund-chart/#comments</comments>
		<pubDate>Mon, 09 Feb 2009 15:51:42 +0000</pubDate>
		<dc:creator>pbucelwicz</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[e-file]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[taxes]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/?p=366</guid>
		<description><![CDATA[The IRS e-file refund chart is posting on the irs.gov website. The federal e-file is free this year, so if you choose to e-file, check the schedule to see when you will receive your return.]]></description>
			<content:encoded><![CDATA[<p><img src="http://moneyanswertree.com/wp-content/uploads/2009/02/2009-efile-schedule.jpg" alt="2009-efile-schedule" title="2009-efile-schedule" width="250" height="241" class="alignnone size-full wp-image-367" />The IRS e-file refund chart is posting on the irs.gov website.</p>
<p>The federal e-file is free this year, so if you choose to e-file, check the <a href="http://www.irs.gov/pub/irs-pdf/p2043.pdf">schedule</a> to see when you will receive your return.</p>
<img src="http://moneyanswertree.com/?ak_action=api_record_view&id=366&type=feed" alt="" />]]></content:encoded>
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		<slash:comments>37</slash:comments>
		</item>
		<item>
		<title>Where is my 1099 Composite tax form?</title>
		<link>http://moneyanswertree.com/archives/361/where-is-my-1099-composite-tax-form/</link>
		<comments>http://moneyanswertree.com/archives/361/where-is-my-1099-composite-tax-form/#comments</comments>
		<pubDate>Wed, 04 Feb 2009 14:40:49 +0000</pubDate>
		<dc:creator>pbucelwicz</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[1099]]></category>
		<category><![CDATA[taxes]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/?p=361</guid>
		<description><![CDATA[Due to recent federal legislation, the deadline for brokerage firms to mail 1099 Composite tax forms has been extended from January 31 to February 15. As a result, your 2008 1099 Composite will be mailed in mid-February 2009. I was looking forward to getting my taxes done early this year so I can get my [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://moneyanswertree.com/wp-content/uploads/2009/02/tax_filing.jpg" alt="tax_filing" title="tax_filing" width="250" height="169" class="alignnone size-full wp-image-362" />Due to recent federal legislation, the deadline for brokerage firms to mail 1099 Composite tax forms has been extended from January 31 to February 15.</p>
<p>As a result, your 2008 1099 Composite will be mailed in mid-February 2009.</p>
<p>I was looking forward to getting my taxes done early this year so I can get my return faster. If you haven&#8217;t received your 1099 from a broker yet, this is probably why.</p>
<p>I used Turbo Tax to file my return this year again, and I&#8217;m all finished, I&#8217;m just waiting for this last form to complete it.</p>
<img src="http://moneyanswertree.com/?ak_action=api_record_view&id=361&type=feed" alt="" />]]></content:encoded>
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		<slash:comments>9</slash:comments>
		</item>
		<item>
		<title>Did wall street expect too much from President Obama?</title>
		<link>http://moneyanswertree.com/archives/346/did-wall-street-expect-too-much-from-president-obama/</link>
		<comments>http://moneyanswertree.com/archives/346/did-wall-street-expect-too-much-from-president-obama/#comments</comments>
		<pubDate>Wed, 21 Jan 2009 14:07:28 +0000</pubDate>
		<dc:creator>pbucelwicz</dc:creator>
				<category><![CDATA[Off Topic]]></category>
		<category><![CDATA[inaugural speech]]></category>
		<category><![CDATA[obama]]></category>
		<category><![CDATA[president]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/archives/346/did-wall-street-expect-too-much-from-president-obama/</guid>
		<description><![CDATA[What happened yesterday after the inauguration? Did investors expect too much in his speech? Then when he talked about what our country is going through, was it too much bad news? As if they didn&#8217;t already know. That we are in the midst of crisis is now well understood. Our nation is at war, against [...]]]></description>
			<content:encoded><![CDATA[<p><a href="null"><img alt="" src="http://i2.cdn.turner.com/cnn/2009/POLITICS/01/20/obama.politics/art.obama.speech.cnn.jpg" title="obama speech" class="alignnone" width="292" height="219" /></a>What happened yesterday after the inauguration? Did investors expect too much in his speech? Then when he talked about what our country is going through, was it too much bad news? As if they didn&#8217;t already know.</p>
<blockquote><p>That we are in the midst of crisis is now well understood. Our nation is at war, against a far-reaching network of violence and hatred. Our economy is badly weakened, a consequence of greed and irresponsibility on the part of some, but also our collective failure to make hard choices and prepare the nation for a new age. Homes have been lost; jobs shed; businesses shuttered. Our health care is too costly; our schools fail too many; and each day brings further evidence that the ways we use energy strengthen our adversaries and threaten our planet.</p></blockquote>
<p>How does this happen? Where does all that money go?</p>
<p>Here is the full text to his speech: <a href="http://edition.cnn.com/2009/POLITICS/01/20/obama.politics/index.html" target="_blank">Obama&#8217;s inaugural speech</a></p>
<img src="http://moneyanswertree.com/?ak_action=api_record_view&id=346&type=feed" alt="" />]]></content:encoded>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Need bridging loan?</title>
		<link>http://moneyanswertree.com/archives/341/need-bridging-loan/</link>
		<comments>http://moneyanswertree.com/archives/341/need-bridging-loan/#comments</comments>
		<pubDate>Sat, 17 Jan 2009 04:42:16 +0000</pubDate>
		<dc:creator>annabuczy2</dc:creator>
				<category><![CDATA[Loans]]></category>
		<category><![CDATA[bridging finance]]></category>
		<category><![CDATA[buy property]]></category>
		<category><![CDATA[commercial bridging]]></category>
		<category><![CDATA[debts]]></category>
		<category><![CDATA[personal bridging]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/archives/341/need-bridging-loan/</guid>
		<description><![CDATA[Excellent bridging loans broker should be what property developer looking after. It is not shortgage ofadvisers out there and they come in all shapes and sizes with various personalities . People do not understand is that if you have a truthful bridging loan consultant it will easy generate huge impactin your entire attitude about securing [...]]]></description>
			<content:encoded><![CDATA[<p>Excellent bridging loans  broker should be what property developer looking after. It is not shortgage ofadvisers out there and they come in all shapes and sizes with various personalities . People do not understand is that if you have a truthful <a href="http://www.belgraviacommercial.co.uk/bridging-loans-finance/">bridging loan</a> consultant it will easy generate huge impactin your entire attitude about securing a bridging loan. </p>
<p>Working with a good loan broker you will have   hassle free bridging loan process without worries.  Just think about it.  There are few very simpleconditions that will letstraight away if your bridging agent is good.<br />
 One of the simplest   methods to know a <a href="http://www.belgraviacommercial.co.uk">commercial bridging finance</a> broker is just<br />
with common sense. Does your adviser like to talk and have thrilled attitude?</p>
<p>  Time keeping is veryimportant and someone missing dates can be infuriating.</p>
<p> If your broker says they will call at 5 pm and he miss it<br />
 it is a problem. You really need someone very punctual.</p>
<p>Consultant should be able to list off loans and programs by heart as well. It iss not a good sign if they are flipping through a book every few minutes to look up terms.  You should check all documents twice.</p>
<p>Another way to tell if your bridging loan your adviser is good or not is to<br />
be sure they are willing to answer any question<br />
with no doubts.</p>
<p>Just ask consultant something a few times in one sitting just to see what they do. If its obvious they are annoyed and dont ask why you repeated it, they might not be paying<br />
attention and just reciting some spiel they use on everyone..</p>
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		<item>
		<title>Is NEF profiting from their mistake?</title>
		<link>http://moneyanswertree.com/archives/323/is-nef-profiting-from-their-mistake/</link>
		<comments>http://moneyanswertree.com/archives/323/is-nef-profiting-from-their-mistake/#comments</comments>
		<pubDate>Tue, 23 Dec 2008 14:16:54 +0000</pubDate>
		<dc:creator>pbucelwicz</dc:creator>
				<category><![CDATA[Mutual Funds]]></category>
		<category><![CDATA[Personal Finance]]></category>
		<category><![CDATA[Retirement]]></category>
		<category><![CDATA[401k]]></category>
		<category><![CDATA[NEF]]></category>

		<guid isPermaLink="false">http://moneyanswertree.com/?p=323</guid>
		<description><![CDATA[A few months ago back in September 2008, I initiated a transfer in my 401k. I was to sell shares in my Opp fund and put into an index fund. Immediately after I set that transaction to happen I decided it was a bad idea. I have many years for that fund to turn around [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://farm2.static.flickr.com/1317/1012857327_4c3e339616_m.jpg" alt="NE" />A few months ago back in September 2008, I initiated a transfer in my 401k. I was to sell shares in my Opp fund and put into an index fund. Immediately after I set that transaction to happen I decided it was a bad idea. I have many years for that fund to turn around and I didn&#8217;t want to lock in my losses by selling it. So I canceled it online right away(1-5 min after). I changed my future contributions to put more into my index funds as my plan to ride out the ups and downs.</p>
<p>Figuring me canceling that transaction was ok, because I got a confirmation email telling me it was canceled, I didn&#8217;t check back in several weeks. I got busy at work and didn&#8217;t have time to check my 401k account often. In late October I noticed my funds were not represented in my asset allocation anymore. I called up NEF and put in a claim for this, and they admit that they messed up and that it was a computer error why this transaction still went through even when I canceled it the same day.</p>
<p>It has been 6 weeks now, NEF calls me every week telling me, they haven&#8217;t figured out why this happened, but are still working on it. My account has not gone back to the way it should be. <strong>What is the hold up?</strong></p>
<p>There are a few things that need to happen in order to get my account back to the way it should be. 1. They need to give me back the same number of shares I had, in my Opp fund. 2. Reimburse paid dividend that account might have had in the months I was &#8220;out&#8221; of the fund. 3. Reimburse me for any extra fees I paid while making the transaction and maintenance fees on the fund the money went into.</p>
<p><strong>Why can&#8217;t they put it back the way it was NOW, then figure out why their system made the mistake?</strong> My theory is that it will work out better for them to wait. As the market keeps falling the price at which they will buy back the shares that were sold, is much lower. So the longer they wait, the farther the fund falls, the cheeper it is for them to get my shares back. <strong>I am not sure if that&#8217;s how it works but what other reasons are there for them to be waiting on this?</strong></p>
<p><strong>Am I SOL and I will never get my shares back?</strong></p>
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