/biz/ - Business & Finance

I'm all in REQ (62k, ~2.3k). Shit sux

>>11788048
More than 10k, but will be around 5k after I close on my new house.

>>11788048
ALLIN XRP RIPPLEBOYS UNITE (~81k XRP)

>>11788048
A savings account is a meme. This should ask you how much you have saved and invested total, not how much is in your savings account

>>11788048
ABout 6k dollarydoos and 12k stinkies

Bro if you're 24 with less than 10 grand in your bank, you're a serious fuck up

>>11788171
Exactlyl. The best savings accounts give you two percent, which is basically keeping up with the 'official' inflation, but losing drastically compared to real inflation, especially if you take things like housing, education, and medical expenses into account. Plus most millenials realize that the FED does not have a plan to get us off of QE and that saving USD is basically throwing your money in the trash. I'd consider it if we ever decide to get a grip on our monetary policy, but until then I'll keep my savings in crypto.

>>11788048
0$, but 10k+ crypro

>>11788048
Im 31 and have 120k saved up. I also live at home. Im sure there are more people like me who didnt bother doing these gay surveys

i'm in the top 20% since i have $55k in savings, $140k in my 401k and $74k in my brokerage account.

Still don't own a house though. I don't think I'll ever be able to afford one responsibly.

>>11788048
>be me
>have 12k Savings
>dropped out of college sophomore year
>play the university internship system to get a stacked resume
>get a 50k a year job with no degree
>literally a fucking zoomer

>>11788229
Why can't you put a down payment on a house? I assume your income is decent as well

I got $12k in my savings account, and $27k held up in crypto right now

>>11788048
34, 118k in savings, 193k in crypto car paid off, house halfway paid off

>>11788241
he could but he wants a mansion nothing humble would do for him or really his social circle.

>>11788229
At this point of my life I feel as if I have to choose either wealth accumulation or a home. So for example if I purchased a $500k house (median price for my area) at a 15 year mortgage I would probably spend $800k in mortgage, taxes and maintenance after the 15years and that house would probably be worth $700k.

If I continue living in my shit rent stabilized studio apt for the next 15 years I would probably spend $250k in rent. I have a high savings rate and I feel that if I keep dumping all the cash in stocks I could probably be financially independent in the next 10-12 years.

So the choice is own a home and work until I'm 65 or live in my studio alone for 10 more years and then start my life. I'm 26 now so being set financially at 36-37 doesn't seem too bad to me.

>>11788293
Yeah this plan works if your scared of women and having a family.

>>11788402
I'm probably am

>>11788048
More than 10k luckily

>>11788422
Man you should consider swapping views and actually living and enjoying life.

In 40 years time who you going to be spending xmas with or getting happy birthdays from?

>>11788048
im 22 a student and make 9 dollars an hour part time and i have at least 1100 at any given time, how are people this terrible.

>>11788231
You dun good anon
Now work on your savings and start a business in your free time.

>>11788048
>keeping 10k+ in a savings account
>being the goodest of goys
anything over 2k is ridiculous unless you have a specific plan for that money

>>11788076

Is that Westlife?

>>11788048
I own a house worth 300k with no debt on it

>>11788668
sure you do

>>11788680
yeah, actually i do

>>11788076
OY these blokes look strayan as fuck. Good on ya.

I'm 22. I have a house worth 300k with no debt on it in Seoul, South Korea, 100k in a retirement account, and 160k in cash and investments. That 160k was 300k in January but I fucked it up because of crypto. Anyway this was all thanks to buying all into crypto in February 2017.

I have a college degree from an Ivy League school as well with no debt on it.

I'm doing ok for age 29

GenX here. Just letting you guys know that it doesn't get any better. I have less than $1000 and live paycheck to paycheck. Get used to it. You will never get ahead in this modern society. Jew bankers are your overlords and the wealth belongs to them.

I have a lot of equity tied up in my car, 300 dollars in the bank and make 150k per annum sirs

>>11788668
Living in your mom's basement doesn't count.

>>11788776
I should mention that my entire net worth in January 2017 was about $12k. ALL of my money came from 2017. Buying crypto in 2017 was a fucking godsend.

>>11788776
congrats

>>11788776
sure you do

>>11788793
Thanks.

>>11788048
Top of the food chain.

>>11788801
Are you going to post this response to everybody? I'm married and as of one month ago my wife is pregnant so I need a house. But having a kid will be so expensive it's like I had no savings to begin with, and my job pays terribly despite my degree. So I'm still going to be working forever.

>>11788048
35 Gen X-er, just made it and I got Bitcoin for days niggaz.

>>11788809
larp: the thread

>>11788823
It's not even that outrageous, I made even more than he did from the 2017 bull run. Why does nobody believe people made money?

>>11788879
I made another 130k or so from the bull run but have lost that much in 2018. It hurts.

>>11788900
I lost a stupid amount in 2018, you're definitely not alone there. I have no clue what made me hold ICX so long, lost a couple 100k from that alone.

>>11788048
Like 4 or 5k depending on if the market takes an uptick or not.

>>11788048

27, with 460k equity in real estate, 30k in cash.

>>11788048
>61 + 41 = 102 percent

>>11789200
Let me guess

You voted for trump

>>11789200
im sorry bud

>>11788048
Oh boi, can't wait for institutional investors to start manipulating the market.

>>11788048
Have a few thousand dollars saved because I'm still in school at 25. Got 2 more years left, so I'll probably hover around that until then.

>>11788781
>GenX hasn't figured out how to budget by now
yikes. them jews got you good.

>>11788776
Two questions
>how much do you owe in taxes on that 560k cashed out?
>why did you buy a house in Seoul?

>>11790066
Or are you actaully Korean?

>>11788048
I got $30k from a lawsuit and then I got $700k from an inheritance. I'm smart and don't spend money, because I made a lot of money when I was young and learnt what it meant to splash money and how it attracts golddiggers and fake friends.

Astrology says I'm lucky, I don't disagree.

>>11790090
Damn life will be hard for ranjeet in Kanpur. Keep larping and remember to pitl

>>11788048
My boomer parents will save me. Who cares?

>>11790163
>nobody is wealthy

the absolute state of brainlets

>>11788048
24 yo, 600k saved. I have a much higher income than most people my age though. I’ve been saving ~80% of my income for the past 5 years. I’m not even trying to live frugally, I just don’t care about most expensive things. All I need is a comfy apartment, a nice computer and some decent clothes. I still don’t get how so many normies make 80k+ and don’t have any savings.

>>11790291
Would’ve had 800k if it wasn’t for crypto and European stocks getting JUSTed in 2018 :/

>>11788048
>25
>older millennial
was this written in 2005?

>>11788680
He could be old.

>>11790177
>boomer
>save
Don't get your hopes up.

>>11790291
Nice larp, what is your job

$0
Savings accounts are scams

>>11788293
>alone for 10 more years and then start my life

>>11788048
37 oldfag here. I have a little over 100k saved at this point, seperate from 401k. When I started wagecucking, I went in with the assumption that SS would not exist when I retire. It isn't a lot, but it definitely saved my ass more than a few times overs the years.

>>11790622
When I first saw this at age 21 it seemed an unrealistic prospect. Now I'm 30.

>>11791169
Iktf

>>11788879
Because biz is a bunch of laggards that managed to lose money DURING the last great bull market of crypto. By January most of them were euphoric when they were almost able to break even but now they're all actually below initial. I didn't even think that was possible with crypto buy alas biz constantly exceeds my expectation.

Jesus how do I even begin to be like you guys

35, $0 in savings, 10k in debt, single father

23

~500k all in crypto

got into crypto mid 2016

down from 1.5m in december 2017 guess I don't have to explain what happened

>>11790622

>>11791616
what's your income?
either you're not making enough or you're spending too much. i eat out once a month, buy the cheapest furniture i can (or thrift store), and eat rice pasta or potatoes every night.

24 with 2.3 mill

I'm not a boomer I'm a zoomer

Lol i thought I was broke as fuck but apparently I'm in the top 6% for my generation? Wtf are people my age doing?

>>11791616

Ne a trust fund baby or have rich parents. The vast majority of successful biz/fags have had financial help. very very few started out at the bottom and made it on their own.

>>11791720
it's a wonder you managed that with your poor math skills

>>11791733
this is true. in total i got about $50k in funding (over 6 years) for my degree from my parents.
if I didn't have that, i would have needed a loan, and interest would have fucked me for another 10k at least.
i didn't invest anything for my first few years of working. by now i'd probably have my loans paid off but i wouldn't have any savings like i do.

>>11788048

I don’t get how working age people can’t even save up 10k. Kek.

>>11788171

You don’t keep your entire net worth in savings, just up to the point where you have 6-12 months expenses for an emergency. Also when saving for short term goals, within a few years or so, you should just stay cash. The risk of your assets crashing outweighs the returns you’d make over that short of a timespan.

I went from $1000 to $32, 000 in about 16 months, all money earned through my retail job, 21 years old this year

>>11788778
how do you already have 80k in a retirement acct?

>>11790622

Delete dis right nao

>>11790449

Boomers are awful with finance. I know plenty who didn’t start saving for retirement until age 40+, as well as some who pilfered their retirement accounts early for frivolous purchases.

>>11791711
45k. I fucked off for my entire 20s and didn't start taking life seriously until 30.
>spend less
Not easy when you have full custody

$30k saved thrown into crypto and stocks in 2017. Always make sure I have $1000 in savings acct at all times. Only debt is car payment. 28 yo.

>>11791917
hopefully it's a masculine child at least.

>>11788048
Saving's account? What's that?

>>11791917
then you're spending too much on your kid.

>>11791917

>I fucked off for my entire 20s and didn't start taking life seriously until 30

Literally how. Were you a Chad or something? For me all I cared about starting in my late teens was making as much money as possible. I was a loser in high school though

I like how they specifically say savings accounts just to make headlines when no one uses savings accounts anymore because you get less than 1% out of most of them. I have 10k in my checking, fuck moving money between accounts just to get that extra 0.5%.
Over 50k in stocks, but according to this I have 0 savings lol.

>>11791959
Yep he's my baby boy
>>11791977
I mean yeah there were lots of girls but also lots of sitting inside playing video games heh

>>11791987

Stocks go up and down. What if you have an emergency in a market downturn and have to sell at a loss to cover it? That’s the danger of not having cash.

>>11792099
Did you miss the fact that I had 10k in cash in my checking?

If I need anymore liquidity I can always use my credit cards, I have 45k in credit I could use and as long as I pay that off in a month I won't even be charged, more than enough time to sell stocks if needed to cover it, I'm not worried.

>>11788048
i'm 40.

>>11788402
>falling for the women and children meme
cringe

>>11792158
My dude, getting in debt when you lose your job or a market downturn is the worst time to get debt. That 10k is barely 5 months of expenses where I live.

I have a year's worth of an emergency fund to cover whatever happens. Yes I have my investments, but the important thing is I don't have debt. Having kids+debt makes life more difficult.

>>11792194
The debt would only be to cover a month's worth of expenses at most, I outright own my house so I don't have to worry about a mortgage payment and have no debt so that 10k would last me a long time if I had to stretch it, plus I could always sell some of my stocks, I don't see needing anymore of a cushion than that.

>>11791890
10% of my gross from high income wagecuck job goes to 401k each year and my company gives us a little bit of private stock (retirement only).

>>11792159
>not taking into account the global recession that will destroy your investments
more like
2023: regain 1 Million again

>>11788048
27, 320k

Should hit 1M in 10 years pretty easily, but depends on how hard this crash is.

>>11792352
>he thinks recessions can be global
this meme again

>>11792352
dont worry about me friend, i've got a plan for every scenario