/biz/ - Business & Finance

>>11116498
>When parents die, will inherit both these houses.
i find this just really fucking sad when people say this. how can your relationship with your parents be so bad, that you are just waiting for your parents to die to get their money.

>>11116555
OP is a huge faggot as usual anon.

>>11116498
so, lets say your parents are 60, and you are 35. you are going to mooch off your parents, till you are 65 and they kick the can, before you own any tangable assets?

>>11116498
25m. They built it up from nothing. I’m going to do everything I can to grow it. Fuck luxurious lifestyle, I want to feel like I succeeded.

>>11116555
>my parents are good so nobody,s pare t could ever be cunts

>>11116498
https://www.biblegateway.com/passage/?search=Proverbs+6%3A6-11&version=AMP

>>11116498
I've never lived above the poverty line.
I buy my gf jewelry every year
I once owned a luxury car
I live in a 2 story condo inone of the most expensive cities in america
I also own 2 tvs, an expensive phone, every video game console, and a 1500$ PC.
I'm actually in the meager right now with credit cards until I can get my new job hopefully soon.
Christmas may be hand-made for the first time in 5 years.
I used to work 3 jobs to JUST barely be below the poverty line.
I have $50,000+ in student loan debt for a shit degree I can only hope will land me a decent job.
If I default on my 70k debts I will probably use my mental illness angle (which I've been cultivating for years) to get neetbux.
I've enjoyed my 20's, fucking 7s, 8s, 9s, and even a 10, so I'm not even worried about bankruptcy.
My parents are trash people and have never helped me with anything. I paid them rent from 16 until I moved out at 19.
Turns out personal finance management isn't that hard I guess.
If I get to 55 with no nest egg I'll just chew on the end of a shotgun until an idea (several pellets) comes into my head.
/blog

>>11116905
>spends useless shiny rocks on his GF every year
>Owns a very slow apperciating asset
>Owns """entertainment"""" depreciating assets.
>Unironically using credit cards in 2018
>Unironically wageslaved his health and time to be ""barely"" below the poverty line
>Owns $50,000 to bank jews
>Owns $70,000 to bank jews
>"Turns out personal finance management isn't that hard I guess."
>"I've never lived above the poverty line."

2/10 bait

>>11116555

have a good relationship with my parents. we're asian so they don't want me to move out until i get married. They explicitly stated that I will inherit everything once they're gone so i don't have to worry about a house.

It's literally impossible for me to buy a house in the SF/Bay Area unless i make at least 300k. want proof? even couples with 1mil in cash can't get a deal on a house.

http://www.latimes.com/business/la-fi-bay-area-home-price-20180215-story.html

>>11116693
real estate is the best investment. I'm not trying to lose my shirt investing in meme internet money.

>>11116555
Upboated, my good sir!

>>11116905
but op doenst own them. his parents do. its not his investment properties, its theirs.

My parents are pretty well off but they've told me they're spending every penny before death

So I'm getting used to the poor life

>>11116498
i put parents life savings in crypto at peak AMA

>>11117183
are your parents crackers or niggers?

Asians are more savvy about wealth building and building lasting dynasties. it's been the chink way since ancient times.

>>11117196
how much did you lose faggot?

>>11116498
>Be me
>orphan
>adopted
>raised by aunt
>other aunt stole my 50,000 inheritance left for my university by grandparents
>grow up in diversityville.
>go to poor schools in ghetto
>teach self spanish
>get meme A. A. degree
>travel overseas and teach engrish
>saved a couple k and starting to buy cryptos and metals
>speak 3 languages now and aiming for 7 in the next few years.
>starting to teach online
>digital nomad
>nowhere to go but up
>have nothing but motivation to made a good life and several kids and bigly executive monies
Link, btc etc bring me to the promise land of /biz/rael

>>11116498
They're losers. Father inherited a 500k property, but decided that exchange it for a 100k property and a popular car.

>>11117171
Real estate was good a few years ago. The bubble will explode one day
Cryptos are for braindead morons though

>>11117248
>asians are more savvy about wealth
Except for that whole communism thing

>>11117602
Historically more common iin Europe than Asia

Quite rich but I don't see any of it because they're schizophrenic narcissists. I fully expect him to blow it all on hookers before he dies.

>>11117602
>literally asians are the most hyper capitalistic commies in the world

see china and vietnam. Communist on the streets, capitalists in the sheets.

>>11117577
Except in Silicon Valley. Houses in San Jose and SF went up in price while everyone else's houses were foreclosing in 2008. the real estate market in the bay area is a unique monster since half the world's tech is centered in this location

>>11117694
You need a insane amount of capital to invest there.
In the long term it probably doesn't give a good return compared to the value invested

>>11117736
yeah hence why I lucked out that my parents got into the market before both tech bubbles.

I'll be traveling the world and charging stupidly high rents to tech nerds to rent my properties in the SF/Bay Area.

>>11117767
Inheriting something is not a investment

250k in savings overseas
150k in land overseas that is gaining equity
700k house here in California that is 20l away from being paid off
No idea what they have here in their savings - they won't tell me. I do know we are at about 70k in credit debt though.
Family business generates maybe 60k/yr here in CA.

I quit my job to finish school. Before I was making 50k/yr as a banker for BOFA

I only know of the savings overseas because I'm a beneficiary on the account.

>>11117778
true, but getting the free money from owning real estate and then investing that into something that isn't Bay area real estate is my plan.

Parents own:
3 houses, net worth 1.5 mil €
Big portions of land
couple 100k on account

They can spend it all before they die, i don't care it's their money

>>11117803
where in cali are you living breh?

>>11117914
LA county, Rowland Heights. I live among a lot of Asians.

>>11116498
My dad
>tool&dye
My mom
>receptionist at tabacco plant
Our house
>worth 150,000
My car
>03 honda civic
Moms car
>03 chevy hhr
Dads truck
>08 chevy silverado

Thats all folks

>>11116905
You hella sad my G. Why not just relocate to the scandinavian countries?

>>11116498
>>11116498
3rd world country, father was highschool French teacher and mom is still teaching elementary school.
middle class house in small town, I'm 26 and they still send me money to study, feels bad man knowing they can spend it on themselves.
Meanwhile mutts with rich parents ask them to pay rent and call the cops to kick them off the house, muh freedom.

family worth about 50 million NZD, however roughly 90% of this is in real estate( land, apartments etc etc) parents make 2.5m NZD a year. Im currently in university.

>>11116905
You bought a bunch of expensive crap it's your own fault that your poor

My dad was a rockstar, he sadly passed away last year. Really sucks he was my best friend. He had like 1mil in stocks, 900k house, 300k condo. Prob like 200k in material stuff and memorabilia (my mom planning to auction drumset for charity, already received $70k offer).

My mom gets around $5k/mo atm in royalties, sometimes more.

My older sister married super rich (her man makes hundreds of millions) , so its likely if my mom doesn’t blow it all that me and my other sister will inherent it all.

Life has been pretty comfy financially and material wise. I roughed it for a while butbIbalways knew pops would bail me out if I needed cash.

>Born to parents who were renting part of a duplex
>They were actively going through a bankruptcy due to being behind on car payments
>Dad works 2 jobs and pretty much just comes home to sleep
>Mom stays home full time to raise me and my brother and run an in-house daycare
>Gifts were modest growing up, a game console here and there, 7 bucks allowance per week
>Got 2 years of free community college from a PSEO program, excellent grades
>Went on to university, got a few grants but no money from parents, but they let me live at their house for free
>Graduated with 15k of debt because I worked a part-time TA job while in school, got a 5k scholarship bringing it down to 10k
>Got a software job and paid it off within a year
>Parents are paying off a house, don't own any businesses or property
>My greed and ambition drives me to /biz/

Mother is 74 years old and still has a mortgage. That says it all, really.

5 houses and 1 small company
Not rich but not poor

>>11116498
>I am going to tell this board my families networth
>I am going to tell this board my extended families networth

You wouldn't believe me anyway.

>Born into a rich family since my grandpa was REALLY successful
>Parents own 3 houses
>I own an apartment worth about $200k
>Sister lives in Toronto(I'm from Brazil)
>About $5 million in assets besides the houses(tree plantations and land)
>A growing company(I manage it, so my income is quite high compared to others at the same age)
>International trips, nice parties, fucking hot girls on my late 20s
>My friends are a bunch of nice people, no fake ones, some are richer than I and some are poor
>Could not ask for more, really

>>11116498
I really lucked out, it's over 35 million for my inheritance alone, and I might get more then my siblings because my parents like my conservative values.

>>11117371
Wish I was more like you, but I started at the absolute top, and there is nothing forme to do. I am seriously considering opening a boxing gym in liberty city to just try to help tough kids with nothing become champion fighters. I wouldn't even charge them to use the gym.

>>11116498
My grandfather on my dad's side was a bank robber, when my father was about 5 he left and never came back, my grandmother on my dad's side was murdered my his step-father, the step-father proceeded to die from abusing pain pills.

My grandfather on my mother's side lived through the great depression as a child, saved and earned enough to begin renting apartments and became self-sufficient off the land, only in his later years did he deteroriate.
My grandfather's net worth upon his death was about $450,000, excluding a two houses he gave my mother from her first and second marriages (the second marriage being to my father).

The value of the first house stayed with her first husband, upon my grandfather's death my mother inherited about $400,000.
She sold the house, kicked me out, retired early, and burned through about $300,000 of the money these past six years.

There is very little left and now she has to enter the workforce at the age of 60 to make ends meet without burning through her reserves too quickly.

She mocked me over putting my savings into Bitcoin in 2012, funded my brother's worthless degree, bought overly expensive vehicles -- she squandered her father's wealth.

Can't wait to celebrate my parent's death desu. Don't neglect your children, anons.

>>11119092
please tell me i have another link marine in nz also at uni

>tfw parents are pretty wealthy but most of it is in their 401k so when they die I'll get taxed out the ass

>>11119283
where do you live now anon?

also what do you think about doing charity work or donating to causes?

>>11119092
based kiwi. what are you studying? also is your family nice or assholes?

>>11116498
>I can't be motivated to do anything because my life is literally so comfortable. I don't know how i should feel about this.

your dad hates you