/biz/ - Business & Finance

>>57411893
>should i buy tesla since its dipping?

The answer to that question is the same as the answer to this question:
Do you want to be rich?

What are you doing once you make it? I want to just work on producing music and making video games for fun. I'm debating whether to just quit working and do this early in Thailand (low cost of living) or wait until I get properly rich to do it full time in USA/Europe. For now, it's just a hobby.

>>56924291

First 100K is the hardest
First million is the longest
Second million is the turning point
Third million... you made it!
You can stop working for other people, you are "independently wealthy'

How would you allocate $100k cash over the next 6 months for maximum gains?

I use to have 10k dots, half of which I got at the last polkadot private sale (you had to buy using bitcoin). I was a huge believer, read everything about dot, attended meetups/cons, was super enthusiastic. Was staking 2/3rds of my stack and locked the rest in the second crowdloan. Over the course of the last two years I finally realised that, like Eos, it just won't happen for dot. Eth has just too much network effect. EVM is a de facto standard, and despite their flaws L2s are an ok scaling solution. Sold all my shit for Link, the first 2/3rds 4 months ago, the rest two days ago when the unlock happened. No regrets. If you want exposure to dot, maybe get parachain tokens like astar or moonbeam...

t. In crypto since 2011 when I bought 10 btc and mined a bit, bought Eth in 2015, and link in 2017 (kinda made it, but still want to make it even more)

>>56270222
>BSV is collapsing and you're laughing.

Yes... I bought Tesla stock

What is your financial goal? $1M+?, $5M?, $10M+. Seems at $1.5M or so you can retire for good at a modest lifestyle. At $5M you can retire very comfortably and at $10M+ you’re retiring as a rich person

>>55906158
>Redpill me on Roth IRA.

Gift from the financial Gods!
Max it out!
Only legal way to make money and pay NO TAXES.

How much is getting rich come down to luck vs. sheer work ethic and avoiding dumb decisions over enough years?

>>55511074
>How much do you need to earn a year to live like a NEET king?

Say $80k.

To guarantee that much forever you will need a source of income that will grow forever (at least under normal times).
A diversified index fund would satisfy that.
S&P500 grows ~12% a year and pays ~2% in dividends.
So $4 million would be enough to live as a NEET king forever.

How much do you need to retire comfortably?

>>55431661
$3.5 million, put in blue-chip dividend stocks.
At a lowest value of 3% a year that is starting at $100,000/year and going up FOREVER!
NEVER work again, do whatever you want, when you run out of money just wait for the next dividend check.

>>55426069
One million, tell my Dad, Best friend, and wife
Two million, tell my son, and Ex-GFs (fuck you bitches)
Three million, tell siblings and retire

>>52543610
>Tesla probably isn't a bad stock to load up on if you're planning to hold for awhile

BASE case for Tesla is 7X PRESENT value in seven years.
Average estimate is 13X in seven years.
BULL case is so high I would feel stupid writing it.

A single person could retire on Tesla in seven years with 1000 shares.

>>52449907

2023 will be a difficult year for most companies, recessionary economy, inflation, labor difficulties... BUT it will be the best year Tesla has ever had.
The stock price could more than double in one year.

>>51560408
The wealth gap in USA in mind-boggling HUGE:
$1 million is NOT enough to be in USA top 10%
$10 million is NOT enough to be in USA top 1%

>>51147859
>I hold ETH beecause it's a bit betteer than Bitcoin for value storage, that's all

Why not just buy a good blue chip stock and enjoy the slow but steady gains?

>>50907315
>It will crash,

What if you are wrong.
Russian invasion effect have already been factored into the economy along with Covid.
What if you stay out of the market now and you miss getting in low?
Unemployment is at record lows and the recent increase in inflation IS going down.
Boomer ARE retiring in huge amounts meaning companies need to hire others to replace them.
America is NOT decreasing in population but growing so the customer base is increasing.
Compare this to European countries and Japan.

America has had peace for decades and it appears we will continue to have peace for more decades.
The 'recent' military action we have had have been training for the troops, no real threat to American heartland.

There will be a correction in the market but NOT a big one, waiting with cash for a huge drop is not a great idea. Buy good companies and hold for the next decade.

>>50815601
I stopped playing video games and I stopped watching movies ever since I started to become successful due to my hard work.

All media other than music is literally designed to with subconsciously or consciously allow you to escape reality. When you as an individual start reaching your goals and manifesting reality, you no longer need or want to escape it via video games or movies/tv shows. Life is my video game. Ambition is a powerful drug especially for men.

As a famous rapper once said: "I ain't watch a movie every since I started living one...."

>>50789678

So how much IS enough to 'retire' from ever needing to work again?

whale giving basically free alpha now, just listen to him and don’t be hyper paranoid, he got the black cock announcement right, and yeah btc will pump tomorrow 90%

>>50646731
>Roth IRA is much more attractive to me

Roth IRA is a gift from the financial Gods.
EVERYTHING you make is tax free forever.
GAMBLE your Roth IRA money like crazy.
You can invest it in almost anything, so find something you believe MIGHT one day be HUGE and put every dime of your Roth IRA into it.
There ARE Roth IRA BILLIONAIRES.
By law, all their Roth IRA gains are tax free!

The only things that motivate me to make it is pure spite and the ability to treat women like trash. I want to be rich as fuck and shove it in the face of anyone who doubted me in this life. That speech where Michael Jordan got inducted into the NBA Hall of Fame is so goddamn kino because he spends 23 minutes and 23 seconds talking raw shit to everyone in his life who ever doubted him. I dream of having a moment like that, I'd cry just like MJ. Hatred is the fuel of greatness. I want to treat women like garbage and not even be forced to pretend they're my equals. I want to make this fucking whores grovel at my feet and kiss my dick for money. I've been loved for who I am, it's fucking overrated. I want to be hated. I want to feel that fucking hate. I want people to seethe at my fucking existence like peoples seethe over Musk, Bezos, Buffett and Gates. It's all I ever dream about anymore. I just want to be rich enough for everyone to know I'm better than them. Love, a family, travelling the world, fuck all that queer shit. I will treat my wife children like shit and remind them everyday they only have because of me. And if they divorce and abandon me fuck them, I want to be rich enough to upgrade to a younger wife whenever I goddamn feel like it. Hate makes Great.

>>50381470
>If possible in your state you hire a lawyer and cash out the amount to a trust so you never have to give your personal info to the public

Good IDEA!
Tell as few people as possible.
Stealth wealth is best wealth!