/biz/ - Business & Finance

>>1183042
I would start my own company. There is certainly a market for what I do that's for sure. 500k is entirely possible to make and pay off.

>>1183062
...and $100k in 40 years will be Pablo's actual revenue

take the 500k, siphon it off into offshore accounts, hire people to do less than legal stuff (scams, robot calls) for a fraction of what they make you, siphon that too

move to Belize; enjoy life

>>1183042
Can that company be anywhere?

I'd take that in a very low COL, safe US city. Live very frugally, like $30k a year in expenses at most. Invest the other $40k each year, assuming $30k goes to taxes.

>>1183099
$100k is your takehome. The job is in a major population area (LA, NY, SF, HOU, CHI, etc), but you can start the company anywhere

rather work for myself doing something i like for minimum wage than for some faggot company for 100k a year

Can I be fired for doing literally nothing at my $100k/year job?

>>1183042
What is the interest rate on the 500K loan? Assuming it's less than 5%, I'd take it.

>>1183129
you would be doing the same work in either scenario

>>1183142
yes of course

>>1183153
good question. we'll say 5% although that seems high

>>1183123
I'd take that still. As a 25 year old single male with no kids, I can live even in those cities for about $50k a year. I'd invest the other $50k a year and hopefully will have enough in 10-15 years to retire.

I could already get 500k for a business loan as could anyone who owns a home and isn't a financial retard.

>>1183155
So, you only need to produce $25K a year & living expenses to sustain yourself.

I'd probably buy cheap property w/ it and rent it out looking at 5-7 year repayment schedules (probably 8-10 years w/ shitty tenants).

If I get a good year, I could possibly make $100K, shit year would pay for living expenses at least.

Assuming I can find enough decent tenants, I would be able to spend a lot of my time pursuing another money making hobby or seeking capital from investors.

>>1183171
theres no way youre profitting $100k in a year off $500k of real estate. Maximum rent would be around $30k before any expenses

I'd take the 100k a year.

I dont have a niche that isnt already filled by several companies. Plus I've seen way too many small companies go under or get squeezed out by the big boys. Of course those that make it become multi-millionaires. But most don't.

I just don't see it as being worth the risk.

>>1183075
Being your own boss is infinitely better than working for someone else. Also, you'll make more money out of your own business than doing it for someone else. No one ever gets rich working for someone else.

>>1183042
Would I be able to fuck around with the $100k income (stocks, forex, etc.)?

>>1183042
I'll take the first one I rather retire safely then start a business on a loan. People should never start a business on a loan especially this current year.

>>1183042
Unless the first choice adjusts for inflation it is shit.

>>1183208
>no one ever gets rich working for someone else
bullshit. tons of people are paid huge salaries and get rich working for others

>>1183213
yes of course. it is your money

>>1183208
>No one ever gets rich working for someone else.
No one goes bankrupt working for someone else

>my grandfather was an engineer
>had a plastics company that made custom stir-foam molds for shipping items
>took out a huge loan with his company to try and develop stir-foam insulation board to be used in construction
>lender loaned more than it could to multiple clients; money stopped when he was almost done developing it
>forced to declare bankruptcy and sell off all his equipment to another company
>he lost his company and dreams overnight; no longer was he the hopeful, charismatic, optimist that would have all his hard work and investments pay off.
>family said he looked like he aged 10 years overnight. started drinking heavy and put a strain on the family.
i didnt know him very well, i was maybe 15 when he died, but my whole life all i can remember him ever doing when i would come to visit is sitting at the kitchen table and drinking/smoking while staring out the window.

on the other hand my other grandfather became a multi-millionaire running a car lot that started out of his driveway, he didnt graduate elementary school or really seem to know much about the actual parts/working of cars. is it luck /biz/?

>>1183232
Your odds of getting rich working for others is even worse than the odds of your business being a success.

>>1183242
theres no odds. Either you are getting paid enough to qualify as rich, or you arent. You dont turn 18, roll a dice and accidentally come up with burger-flipper. Most lawyers and doctors arent self-employed, but would be considered rich, along with many other professions

>>1183123
$100,000 take home is a very interesting number especially since you allow places like San Francisco and New York City. The implication is that after rent or mortgage, a person still manages to net $100,000.

Under that circumstance, taking the job is, for most people, a better deal than borrowing money and trying to get rich through entrepreneurship. I also further assume that the person who takes the full-time job never has to be worried about getting laid off.

Under that circumstance, It is a simple matter to bank $100K/year in investments all while accumulating equity in the house one lives in. After 10 years, even with a 0% nominal return, the person taking the job has well in excess of $1 million liquid net worth and even more than that total net worth.

This is a crappy time to invest because of the heavy, clumsy hand of the Federal Reserve influencing asset prices and ruining expected returns. In a better environment, a person could easily get an 8% per annum nominal return with fairly low volatility or as much as 12% per annum in a better investing environment.

The talk that "no one ever got rich working for someone else" is not entirely true. Mind you, you have to rise to executive management or work for the right company with the right stock grants to rank-and-file employees but people do get rich working for others. There are many CEOs who have net worth of hundreds of millions of dollars despite being incompetent and not being founders. It is true, though, that the greatest fortunes have only ever been amassed by people working for themselves.

(continued)

>>1183042
I start my own company. Embezzle 500k and live like a king in Thailand.

>>1183279

In the OP's hypothetical situation, only a person who is a die-hard entrepreneur and absolutely, positively cannot work for someone else would take the second option. As others have said, while the first option, if taken at its face value (working at the job until retirement), will result in a person never becoming fabulously rich, the first option also guarantees that the person will never go bankrupt.

If one really has a desire to be an entrepreneur but doesn't want the risk of losing everything and having to start from zero, the first option is just exceptional. Depending on investment returns, 10 - 15 years at the job would be more than enough to amass enough wealth start a company, seed it, and still not be forced to take a job should the company fail.

In fact, that is probably the most logical option (working for a number of years, saving and investing, and then quitting to start one's own company) since the hypothetical situation states that take home will be $100K for the entire term the person is employed. That means that the person who stays in that job until retirement eventually is working for the equivalent of $36,000/year if we assume a mere 2.5% rate of inflation.

>>1183279
>The implication is that after rent or mortgage, a person still manages to net $100,000.
That's not what "take home" means, so I'm not reading anything after this sentence. Judging by your ignorance on this term and that wall of text, I'm just assuming it's concentrated autism.

>(continued)
Jesus Christ

>>1183285
I have a different (I guess wrong) understanding of what take-home is, then. $100K after taxes is garbage in a place like San Francisco or New York City. One bedroom apartments in SF are currently about $4,500 - $5,000 per month or $54,000 - $60,000 per year.

But while I get the take-home term wrong (I don't use it in my personal life because I view money different than most Americans), I do know how to make, save, and invest money; probably better than most people here.

>>1183042
>go for 100k/yr job
>live cheap as fuck for ~5 yrs and accumulate 300k+
>buy and rent out apartments with said money
>extra money goes back into various investments
>retire in 15-20 years at the ripe age of ~40

Seems like a good deal brah

>>1183285
thank you lol. since when has takehome pay ever been after rent?

>>1183042
I'm a man, I got testosterone, I'm taking the risk

>>1183295
The real mvp.
Colloquial as it is. I know way more failed men who take the risky route than successful ones, most of the comfy retired I know were wage cucks who made good investments. Play the odds and don't get greedy imo.

>>1183293
6k a month
>That is not even close to the average you fucktard

>>1183042
>Work for a company, to see how the established players do it
>If I think I can do it all/delegate well take out the loan and go for it
>otherwise sit comfy

>>1183042
>start half a million in debt
Can I go into more debt? May I borrow several million immediately?

>>1184138
no. you only get 500k to start. the banker is JAF

>>1183285
Are you just going to ignore everything he said just because he has a different perspective of the word? Although what he said should be what is going through everyone's mind at this point, he makes a great summary that you should read it.

>>1183293
Just remember that when you create a "know it all" long post without layman's terms people will get defensive and criticize you with any chance they get. It's better to be an average joe when explaining things like this.

Read how to win friends and influence people or laws of power.

>>1184248
>that last sentence in the first reply
You get what I mean, seems like I died and came back to life there. Fuck it I'm anonymous.

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>>1184258
>>1184262
go away $cam Jewton this is a board of professional businessmen

>>1183042
I'm fine with the first one, I don't want a lot of money, I just need enough to live comfortably and I'm doing that now as a college student wage-slave.