How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
A new question is answered every 9 seconds
Ask a Finance question
Type Your Finance Question Here...
characters left:
8 Financial Professionals are Online Now

Mutual Fund Questions

What is a mutual fund?

A mutual fund is a type of fund that is professionally managed collective investment vehicles that will pool money from a lot of investors to purchase so that they can purchase securities. In most cases, a mutual fund must be registered for the Securities and Exchange Commission that is generally overseen by a board of directors or a board of trustees and is managed by a registered investment advisor. Most generally, if the mutual funds meet certain requirements, then they are not taxed on their funds. Questions below pertaining to mutual funds have been answered by the Experts.

What would be a sound single mutual fund to use for retirement income?

There are generally a lot of factors that a person would need to consider. The risk tolerance and returns that a person would generally desire to achieve in order to meet their investment goals and would need to be a balanced fund that would include both bonds and stocks might be what the person would need to consider.

If a person would to have inherited two mutual funds in the year 2008 and seem to be fluctuating up and down by an amount of $300, would the person be better off to sell both mutual funds to be in a smaller tax bracket?

If the person wanted to be in a lower tax bracket, then they would want to consider selling both mutual funds. If the person is in the 15% tax bracket, then the capital gains tax would be 0% and if the person is in the 25% or higher tax bracket. Then they would have to pay a capital gains tax of 25%

If a person were to open a mutual fund, would the mutual fund be honored at the time the funds were purchased or would they be valued at the time of the funds clearing the bank?

In most cases the funds would generally have cleared the day the mutual funds were bought even if they showed a different day the funds cleared. The fund company that set up the funds would have the money to cover the funds until the check or other forms of payment cleared the bank. If the person buys the mutual fund on a certain day, then the fund company can purchase the funds the same day or on a day the person asks for the funds to be purchased.

If a person were to liquidate a poor mutual fund that they had for many years, would the person need to report the number of shares sold or the cost of the shares or the reinvested shares for tax purposes?

The person would need to determine the cost basis of the shares that they sold, which can prove to be complicated, but in most cases the mutual funds will track the cost basis and give the person a 1099 form for taxes. The person’s cost basis is generally not given to them making it to where they have to figure these themselves.

Mutual funds help the person to invest money. When a person is thinking of setting up a mutual fund, or they have inherited a mutual fund, then they may have questions regarding the laws and regulations of mutual funds. When these questions arise, then the person would need to seek the insight of an Expert.
Ask a Finance question
Type Your Finance Question Here...
characters left:
8 Financial Professionals are Online Now

How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Last | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
 
 
 

Meet The Experts:

 
 
 
  • Ron

    ASE Certified Technician

    Satisfied Customers:

    21182
    23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
< Last | Next >
  • http://ww2.justanswer.com/uploads/FO/fordguy4u/2011-12-17_222940_HPIM1257.64x64.JPG Ron's Avatar

    Ron

    ASE Certified Technician

    Satisfied Customers:

    21182
    23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
  • http://ww2.justanswer.com/uploads/lyeung1/2010-07-25_032152_tn_IMG_0241.JPG Dr. Y.'s Avatar

    Dr. Y.

    Urologist

    Satisfied Customers:

    18388
    I am fellowship trained specializing in general urology and reconstructive urology.
  • http://ww2.justanswer.com/uploads/docjohn174/2008-12-13_170143_johnask.jpg John's Avatar

    John

    Home Appliance Technician

    Satisfied Customers:

    13453
    Appliance repair business owner for over 43 years.
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    8490
    JD, BBA Over 25 years legal and business experience.
  • http://ww2.justanswer.com/uploads/dermdoc19/2010-09-30_160749_Photo_122807_015.JPG dermdoc19's Avatar

    dermdoc19

    Dermatologist

    Satisfied Customers:

    3848
    30 years practice in general and cosmetic dermatology
  • http://ww2.justanswer.com/uploads/BI/birddoctor/2012-6-22_173214_birddoctor.64x64.png Dr. Pat's Avatar

    Dr. Pat

    Bird Veterinarian

    Satisfied Customers:

    3384
    25+ years working primarily or exclusively with birds
  • http://ww2.justanswer.com/uploads/RY/rydergar/2012-6-6_192240_IMG0328.64x64.JPG Dr. Gary's Avatar

    Dr. Gary

    Cat Veterinarian

    Satisfied Customers:

    3299
    DVM, Emergency Veterinarian, BS (Physiology)