The interest income is added to your income as interest income and 100% of it will be subject to tax at your marginal tax rate. So if you made $1000 in employment income, your total income for t...

yes... To Avoid scams here is what i tell people... All spam emails/unsolicited phone calls/letters and faxes are scams. As a general rule - ANYTHING involving Western Union/money gram = Scam...

You don't have to do anything. Form 5498 is an informational form that is provided to the IRS that documents your contribution to your Roth IRA. Since your Roth IRA is not deductible, it has...

No, there are a large number of funds that have extremely low minimums if you are starting an automatic deposit program, in fact there are too many to list here. But a few examples: $1000 minim...

Presumably the UGMA was invested in something. The year that the item is sold, you will get a 1099-B. Hopefully your account statements will show your basis so you can report something other th...

Do you believe your advisor can beat your picks by 1.5% per year? Put another way, if you average 10% per year with index funds, do you think your advisor will do better than 11.5%? Is he THAT ...

Since you need the money so soon, you really don't have much risk tolerance. So I think you should stay out of the stock market. Put it in a CD or high interest checking account. You'd...

There is no way to truely answer this without doing a risk profile on you. Most people will invest their retirement money in a higher risk fund while they're young and then move it towards mo...

You can move all your IRA assets into one account. There are no disadvantages, assuming you are keeping your assets and not withdrawing them early. The new account will not be a SEP IRA account...

CD is certificate of deposit, sold to you at a bank Depending on how long you sign your money up for, you get different interest rates based on length of time Don't expect to get rich fas...

That is a horrible idea - you will pay a bloody FORTUNE in finance charges. Go to the bank and secure a loan.

you can make consistent income from dividend stock. Read here for more detail: Is High Dividend Yield Stock Worth Investing? ...

They're calling you? Stay away! I believe it's illegal to solicit investments from cold-calls like that.

Hi David, I can easily answer your question, but I would need just a tad more information about the T5 slip. Firstly, whose social insurance appears on the slip? Yours or hers? Secondly, doe...

What's up with people and complicated questions today? The Chinese Yuan is likely a better long-term investment, but the answer isn't that simple. It depends on your timeline and if y...