Your Questions About Stocks And Bonds For Kids

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Donald asks…

how long does it take to get a divorce if you were seperated for 7 years and it was petitioned by the court?

i’ve been seperated for 7 years and now want a divorece, lawyer said there was a petition from the court and now am going to see a lawyer, we have 2 kids(16 and 18) 1 house almost paid off and many stocks and bonds and rrsps he is very greedy and will fight just want to know what to expect?

financi4 answers:

If he fights it and has lots of money it could be years.

If he paid for part of the house then it is likely half his.

Daniel asks…

Am I eligible for the new tax rebate? I am a single, stay at home mom, and I watch other kids…?

I had a baby in 2007, so I know there is some sort of a deductible for that. Last year I lived with my sister, and I made about 7,000 for the year. I don’t receive any other income( no child support, money from the gov, I don’t own a home, no stocks or bonds, etc…) I do own a vehicle…but I don’t know if that means anything for taxes. I filed last year for taxes. Any tax info would help so much!! Thanks

financi4 answers:

Sounds like when you file this year (for 2007) you will have one dependent child on there adding $300 to your rebate. Also from the sounds of it you made more than 3,000, but did not owe any taxes (you got a refund of everything you paid in) so you will get the minimum of $300 for yourself.

Total $600.

Thomas asks…

Social Security Disability/SSI benefits?

im a 24 yo female, work for the federal government and make 31K (bring home about 1600 a month) a year and just found out im legally blind in one eye ( 20/250) i just found out in Nov. and iv only been working at my federal job for 4 months. Can i apply for SSI? I live in Alabama if that matters, i rent an apartment have no kids and no husband, no stocks or bonds or anything like that.

financi4 answers:

You make way too much money.

Ken asks…

How do you people feel about white people and?

Its for an anthropology course so no flamming please.

Since the 1960s (MLK and civil rights act and so on) the wealth gap between the whites and blacks has increased! despite the effort to create a colorblind society. For example, even though black people can get a home loan now which they could not get in the 1950s why is it that the wealth gap is increasing?

To give some background to this question after WW2 when the veterans came home from the war including I think more than 1 million black veterans; the government set up the Federal Housing Administration to basically give home loans(in the current form of a 5-10% down payment) to all veterans (most veterans had been in the war long enough that they were able to put a down payment, including the black ones. However the FHA basically discouraged banks from lending to black veterans on the basis that they were animals are some racist garbage like that and they would cause property values to fall by making crime. This became a self fulfilling prophecy because when 1 black moved into a neighborhood even if he was a billionaire and lived like barak obama, there was a few racist whites in the neighborhood who would move out. This made property values fall as real estate agents, started to take advantage of people’s fear and some white people wanted to save their money. After those few racist moved out other whites got scared that more whites would move out, and that they would lose the entire value of their house and followed suit

For example most people’s wealth is invested in their home, not stocks or bonds. You can send your kids to a good college if you take out a loan against your house. So say you are a non-racist white, but its 1965 and you know your neighbor down the road hates black people, he told you several times that if any black people move in the neighborhood he is leaving. You also suspect several of your neighbors are racist too and will follow suit and a real estate agent you have never seen before warns you that if you don’t sell your house at half its value to him, then your soon going to be the only white person left in this neighborhood. Also your house will lose more than half its value.

How do you (especially if you are white) feel about knowing that you have benefited from racism even though you yourself or grandparents may not have been racist? If your middle class or better and live in a mostly white neighborhood you have benefited from racism. Or how do you feel if your 1 on those white people who chose to stay in a neighborhood that was white but is now mostly black and your home has lost its value significantly? How do you feel knowing that you have been a victim of racism? Does it anger you that racism from your own race made your house lose value?

If you are wondering why home values fell or how this is racism this is what the article said. Basically white people make up 80% of the home buying market, if white people refuse to move into a certain neighborhood, those home values are going to decline as only 20% of people will even be willing to want those houses. However, if white people were willing to move into mostly black neighborhoods then the value of houses there would be roughly the same as in mostly white neighborhoods.
Now one might argue well I’m not racist but I don’t want to move into a black neighborhood because it has too much crime. However most of these neighborhoods started out white. 1 black person moved in and then whites started to move out, when whites moved out starting in the 1960s, they took the good jobs and tax base with them. Lets face it white people have most of the money. If they move out it means cuts to public services like schools, hospitals and so on. You have to remember that even the racist white people who sold their houses were not selling their houses to black crime lords on welfare or gangster mama’s they were selling their houses to decent black people with jobs, a good income, and a 2 parent traditional family. Even though racism on paper ended largely by the 1970s, you had to have a pretty good character to get a loan as a black person for a home. Banks were still suspicious of black people back then.

Give a detailed answer
Grandpa specific which group of immigrant your talking about?

See immigrants who come here already have a property where they are coming from, black people have no property were not citizens in their own country. Which Immigrant was not a citizen in their country and denied the right to own property? What asian immigrant was denied loans?

financi4 answers:

Racism is wrong… Just because someone is black doesnt mean they are drug lords or whatever. I do agree that racism is still going on but i am not sure if anyone benefits from it. I mean what if someone was racist to blue eyes thinking “Hey! Its a Nazi” well thats just wrong thinking that! Its just an appearence difference. The same for hairstyles or something, you dont move away from someone cause they are bald! Whats wrong with people? We are all Gods creatures and deserve to be treated equally.

Mark asks…

If I die is my EX wife entitled to sue my current wife for Money or Possessions?

have been married to my current wife for 3 years. We have a two year old child together. I have 2 sons from a previous marriage. They are 5 and 12.

I want to make a Will out and I am just wondering if the ex is entitled to anything on my kids behalf.

I don’t really have many possessions. We own one vehicle. We don’t own a home or any stocks or bonds or anything like that. I have no savings account.

I do have an action figure collection that my wife and I share. It does have some value.

I do have a life insurance policy through my job. And I do have a retirement fund. My current wife is the beneficiary.

financi4 answers:

It varies depending on the state. If there is currently a child support order, I believe she is entitled to some support out of your estate, above and beyond anything you might leave in trusts for your older two children.

Given the complexity of the situation, I would recommend paying a good lawyer $100 bucks for a consultation on your will.

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