Hahahaha, you still don't get it. You can liquidate CD's and stocks. Anytime you sell a stock you are liquidating it. God you are retarded!!! But this is hilarious to watch.
So since the troll sputtered so much BS, let me repeat.
When you "Liquidate assets" you convert an illiquid asset into a liquid asset. Note: the dumb little kid disputes this.
Liquid assets include most stocks, money market instruments and government bonds.
Therefore you can not "liquidate" your mutual fund.
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HAHAHAHAHA!!! The wannabe Internet superstar never fails to entertain!
I won't say how embarrassing it is that this has to be posted. But when you have people like retard Ace running around, sometimes you need to get down to the basics. By the way, this is what they teach to high school students or very old people who aren't very savvy with finance. A superstar, filthy rich lawyer, who understands everything, should not have to be shown this... hahahaha. Just too funny. Thanks Ace, I appreciate your skill in the world of entertainment. Like a circus clown.
Liquidating a CD
When you see the newest must-have gadget, your mind probably starts racing with thoughts about how you're going to pay for it. If you're thinking about the money you've been saving in CDs, unless they're about to mature, you should probably look elsewhere. Liquidating a certificate of deposit before maturity can have significant financial consequences.
CD Basics
CDs are deposit accounts offered by banks that require you to keep the money in the CD for a specified period, or term, until the CD matures. This allows the bank to make more loans because it assumes it will have the money for the specified period. To entice customers to commit their money for the period, banks typically offer higher interest rates on CDs compared to savings accounts to make up for the fact that you're not able to withdraw from the account without penalty whenever you want.
Liquidation Limitations
If your CD hasn't matured yet, you're going to have to pay a penalty to get your money out of the account. Since the bank was expecting to have your money in its account until the CD matures, if you take it out early, you're going to have to pay a penalty. Generally, the only way to avoid these penalties is to wait until the CD matures.
Penalty Amounts
According to a survey by Bankrate.com published in 2010, the average early withdrawal penalty depends on the CD's term. Banks charge, on average, three months of interest for CDs with maturities of less than one year and six months of interest for CDs with longer maturities. Some CDs permit the penalties to come out of your principal if you haven't accrued enough interest yet. For example, if you have a CD that charges a penalty equal to six months of interest but you've only had the CD open for four months, the bank will take the equivalent of two months of interest out of the amount that you put into the account to satisfy the penalty.
Tax Considerations
When you liquidate your CD, you have to report on your tax return any interest accrued on the CD during the year. For example, if you liquidate it at the end of March, you have to include the three months of interest as taxable interest income. Any interest from previous years should have been reported in those years. If you pay an early withdrawal penalty, you can claim that amount as a separate deduction. Your bank reports any interest and penalties on a Form 1099-INT that you receive after the end of the year.
http://budgeting.thenest.com/liquidating-cd-22417.html
Liquidating a CD
When you see the newest must-have gadget, your mind probably starts racing with thoughts about how you're going to pay for it. If you're thinking about the money you've been saving in CDs, unless they're about to mature, you should probably look elsewhere. Liquidating a certificate of deposit before maturity can have significant financial consequences.
CD Basics
CDs are deposit accounts offered by banks that require you to keep the money in the CD for a specified period, or term, until the CD matures. This allows the bank to make more loans because it assumes it will have the money for the specified period. To entice customers to commit their money for the period, banks typically offer higher interest rates on CDs compared to savings accounts to make up for the fact that you're not able to withdraw from the account without penalty whenever you want.
Liquidation Limitations
If your CD hasn't matured yet, you're going to have to pay a penalty to get your money out of the account. Since the bank was expecting to have your money in its account until the CD matures, if you take it out early, you're going to have to pay a penalty. Generally, the only way to avoid these penalties is to wait until the CD matures.
Penalty Amounts
According to a survey by Bankrate.com published in 2010, the average early withdrawal penalty depends on the CD's term. Banks charge, on average, three months of interest for CDs with maturities of less than one year and six months of interest for CDs with longer maturities. Some CDs permit the penalties to come out of your principal if you haven't accrued enough interest yet. For example, if you have a CD that charges a penalty equal to six months of interest but you've only had the CD open for four months, the bank will take the equivalent of two months of interest out of the amount that you put into the account to satisfy the penalty.
Tax Considerations
When you liquidate your CD, you have to report on your tax return any interest accrued on the CD during the year. For example, if you liquidate it at the end of March, you have to include the three months of interest as taxable interest income. Any interest from previous years should have been reported in those years. If you pay an early withdrawal penalty, you can claim that amount as a separate deduction. Your bank reports any interest and penalties on a Form 1099-INT that you receive after the end of the year.
http://budgeting.thenest.com/liquidating-cd-22417.html
Hahahaha, you still don't get it. You can liquidate CD's and stocks. Anytime you sell a stock you are liquidating it. God you are retarded!!! But this is hilarious to watch.
Originally Posted by Acebb
So since the troll sputtered so much BS, let me repeat.
When you "Liquidate assets" you convert an illiquid asset into a liquid asset. Note: the dumb little kid disputes this.
Liquid assets include most stocks, money market instruments and government bonds.
Therefore you can not "liquidate" your mutual fund.
-----------------------------------------------------------
HAHAHAHAHA!!! The wannabe Internet superstar never fails to entertain!
I've never heard of someone saying they are liquidating stocks, unless it is part of some kind of bankruptcy process and the sale is mandated to pay off creditors. Otherwise, it's just considered a sale. Business owners don't say "Boy, we had a great month liquidating all our inventory...and we're going to do the same again next month!" Liquidation is generally accepted to mean turning assets (land, buildings, plant equipment/machinery, etc) into cash for whatever intended reason. The term doesn't apply to basic sales. When I open a CD at a bank, I deposit cash to do so. How the hell do you convert cash back into cash? Your example of "liquidating" a CD is nothing more than closing an account early to get back the cash you put in, plus interest and minus early closure penalties. But you're still getting back the same cash you put in, not exchanging assets for cash.
It's good to know you can Google this for a day or two and then copy + paste someone else's writing while hoping to sound intelligent, though! The only liquidation to which you can really speak intelligently refers to the gallons of firewater you dump down your throat every night.
Hahaha, you can always tell who the losers are by how hard they try to portray their life as being amazing. I mean JDeuce and Ace are so scared of people seeing them fail that they refuse to even post picks on a sports betting site, lol. It's a mental disorder amongst conservatives. They get scared if they don't have their cult leaders there to tell them what to do.
I mean they struggle with the simplest shit. Like what it means to liquidate something. Just comedy gold at its finest!
Checking in, and As I suspected, and as we All knew, The Gutless Broke Dik Fuk Lying Ace ran away from a bet as far as possible. Bet HE offered was accepted, but I received no notification from any Mod or Mich that Lying Ace sent them any money, so no bet AGAIN. Once again the gutless loser shows his true colors. Of course he knows who Mich is, and Mich was specifically chosen by me because he's on Lying Ace's side of the fence politically, but I trust him with money, as a long time poster here and elsewhere.
Checking in, and As I suspected, and as we All knew, The Gutless Broke Dik Fuk Lying Ace ran away from a bet as far as possible. Bet HE offered was accepted, but I received no notification from any Mod or Mich that Lying Ace sent them any money, so no bet AGAIN. Once again the gutless loser shows his true colors. Of course he knows who Mich is, and Mich was specifically chosen by me because he's on Lying Ace's side of the fence politically, but I trust him with money, as a long time poster here and elsewhere.
Not sure what you guys are up to. I must have missed something. But no one has contacted me about holding money.
I, myself, did offer three times to participate in this little brackets challenge here, but I guess the guy who calls out all the conservatives for never taking him up on his bet offers was too scared himself to let me participate. I decided to post my plays in the College Forum. I named my thread after Mr Bluster.
