/biz/ - Business & Finance

>>11856410
Honestly sounds like one of those arbitrary dumb things that dumb people talk about as though it means anything.

Bleh, it's realistically gonna be different for just about everybody. Some will find it easier due to circumstances and some will no doubt find it practically impossible due to whatever, so the idea that you should have saved whatever you happen to make (is that your salary right now? the average of the years you've worked? something else?) seems kinda random to me.

Not like there's any point to anything anymore anyway, or that everything you own can't be arbitrarily taken away at any point by governments, economic crashes etc. etc.

Oidunnolol

I make 0$ so yeah I do have my yearly salary saved.

>>11856410

https://www.youtube.com/watch?v=6I2pcIbyq-0

>>11856410
What is saved? Is that cash on hand? Total investments including your home?

>>11856500
In "savings". So anything liquid.

30 next year no savings but own house with a estimate of 400k - 150 loaned

Salary is £75k and I have £48k in liquid savings. I'm 30. So not quite.

30 and I just started my first real job after finishing school lmao

>>11856410
By the time I'm 30 I'm gonna have 200k saved up.
I earn 80k.
Get gud fag.

>>11856410
>32
>$0 savings
lol no. im broke af

>28
>50k in savings
>8k in crypto
>currently 40k salary
I plan on making 60k by then and having well above that in savings, question is when should I start buying boomer stocks? Stocks and housing seem way overpriced right now.

>26
>55k in 90/10 equities/bonds
>30k crypto
>5k cash
>salary around 84k
will i make it by the time i'm 30?

>>11856450
based
redpilled

I'm 24 and only worked a year with proper employment (always had roofing and construction gigs on the side during school, but first year out with a degree and salaried job)

Making 55k a year and have so far been able to put 3k away in a sheltered low risk retirement plan, 12.5 k market value in riskier stocks (14k book value - down 10% on my self directed investments but you don't learn how the market works without participating, so whatever), and I saved up enough money to buy a used car for 5k.

I don't know why people say saving is hard. All I pay for is gas food shelter and drugs, the rest goes straight into a tax sheltered account that I never withdraw from.

>>11856876
Most people have school debt, children, a gf to take out etc.

If you have no life saving is easy yeah.

>>11856539
I like this guy, would buy a beer
>>11856545
I’m jealous of this guy
>>11856876
Definitely gonna make it
>>11856522
Lmfao enjoy recession
Nah but seriously I’m gonna take a loan too, gotta escape the city
>>11856444
Spot on Broseph

>>11856918
my gf is more frugal than I am and I’m already a cheap cunt, just find a girl that isn’t retarded

What do people expenses look like that makes saving hard? Like what percentage of your income goes where?

>>11856410
I just invest my paychecks sometimes when thyre money to blow, My investments make more money per day (or per night while i sleep during ATH) than I make in a week at my day job

It's just some arbitrary number the media puts out there to make people feel better/worse about their finances. Some people still live paycheck to paycheck at 30 with maybe 2k saved and others already have 1MM net worth by then. It's hard to really put an average to it but I think the point is that you should at least have a good amount of "fuck you" money by 30. Money that'll act as a nice buffer, allow you to quit your job to find another career if you want, go on vacations, buy a house, start a family, etc. since most people start to do those major lifestyle changes around 30. Having a year in salary in savings will give you a nice buffer to have some flexibility if you wanna change things up without worrying about paying the bills every month.

>>11857258
I think rent/housing/mortgage is the big killer for a lot of people

For example, I'm 23 and live in a shared college-style house with 3 other people. It kinda sucks but my rent is dirt cheap ($600/month). My friend, who makes essentially the same amount as me, lives alone in a huge 2 bedroom apartment because he likes having the space and privacy and pays $1200/month, double what I pay. That's an extra $7k difference in spending right there but he says he doesn't regret it. I plan on keeping this lifestyle for another 2 years until I'm 25 and by that time I'll have an extra $21k saved that he won't

>>11857376
*21k invested. Big difference.

I'm 19 & got 40k AUD in stocks. 5k car, just buily a new pc that'll last me 6 years.
Only about 20k is my own- handed about 20k + the car by parents, very lucky in that sense.

>>11857480
Very true.

Personally, the reason I choose to be so frugal right now is because I believe in the "live like a nig while young and retire early like a king" strategy. I'm investing pretty much all of my excess income into stock market index funds inside tax-advantaged retirement accounts. This money will already be growing and compounding for several years by the time I'm 30, which is when many people START to save for retirement

>>11857480
Still a good clip. You don't have a lot of major expenses at 19, so keep at it and it'll pay off long term.

>>11856553
Unironically put like 5k into aapl. It is a steal at the FUD price right now. When 5G rolls out aapl is going to be worth like 1.5 trillion. Right now its 840 billion.

>>11857529
Personally know a few people who earn anywhere from a million to 10m, you can tell who is the bet investor by what they spend-
>>11857532
Yeah- really excited for my stock- i'm all in one stock currently. Large discount to book value and will be a large beneficiary of a coming political change where I'm from.
I've already gained 20% on a large blue chip I sold (held july to sep), just playing the patient game for now. Dad taught me to buy when the market is crashed- I think it's sad my age group dismiss investing as "too complicated/risky", and would rather invest in property. (Imo not really an investment here, more a risky inflation hedge)

>>11856410
>Be 29
>Make 150k
>200k saved up, another 100k in house. >Another ~10k in crypto.

Will I make it bros?

>>11856553
What is your 50k savings in? Savings account? If so, you should really do something with that. Putting all of your money is savings account is basically losing money because of inflation. Any money that you won't be using in the next 5 years really should be invested.

>>11856444
it's a rule of thumb, like drinking 8 cups of water per day. a lot of people come go into the job market unaware they have to save for retirement at all.

>>11856918
My gf is one of those introverted goth type's who would rather go to a cemetery and drink/do drugs than go out every night, and she does have a decent job as a pharmacy tech for a 23 year old, so we usually split if we decide to do something interesting (I'd say more like 65/35, but I like paying. When she pays it's because she insists, which is a nice gesture)

I never got into crypto which I guess makes me an outlier for this board. I just do a 30/70 split between growth stocks and blue chip dividend stocks, I guess I'm a 20-something boomer.

>>11856545
>80k
Cute sweety but I take home 95k after taxes.

>>11857828
>not working in the mines and taking 350k/yr after taxes
mhm

>>11857839
Im oil not mining but one of my co workers probably makes 350k after taxes.

>>11856410

I have 2x my yearly salary saved, and 3 months salary in an emergency fund.

Get your shit together anon

>>11856410
no because they went to college and still gorge money like someone that makes 50k

>>11856444
>Honestly sounds like one of those arbitrary dumb things that dumb people talk about as though it means anything.
This, plus chekt

Yes, $120k net worth, aka assets minus liabilities, the only one of which is a mortgage), and make 38k a year (sad I know), mostly because I lived with my parents for two years and bought one bitcoin in 2014.

by thirty 1x in retirement accounts is somewhat arbitrary but should be easily achievable unless you went to medical school or something.

I'm a Canadian plumber and I make 500K after taxes. Going to retire soon and spend the rest of days chasing poon in Asia.

31
0 in savings
Put everything into businesses that haven't made much money yet.

Dread the thought of wage slaving mortgage life.

Just need enough neetbux just not to work for someone.

>>11857975
Yikes, better hope one of those business ventures takes off. Otherwise you'll be slaving away for Mr. Shekelstein until you're 60

>>11856410
30 years old.
0 in savings
$926.00 in stocks & options
0 debt

Could be worse ..
Took me 4 years to pay off student loans, car notes, credit cards, etc

>>11858035
You went through all those years without a proper emergency fund? That's pretty fucking stupid. Consider yourself lucky that life never fucked you along the way and start saving those paychecks ASAP

>>11857529
Smart move, I lived with 3-5 roommates while I was in school, no car, bus'd everywhere, and it fucking sucked but I graduated debt free with a bit of savings from working between semesters. Since then I've been living in a 2bdroom apartment paying $1200/month and it's the best. It's more than I want to pay but it's close to my work and 1 bedrooms in the area are more downtown and more expensive.
Living without roommates is really the greatest thing ever, I can live a mix of wagecucking and neet life without a bunch of bros getting pissed about stupid shit.

>>11856410
I don't have shit saved. Not even a job
>>>This 30 year old Engineer dropout

>>11856410
28 y/o boomer here. 50k savings, 20k stocks, 10k crypto (75% link, 25% BTC)

>>11857647
you're doing better than i was at 29. i'm almost 40 now and i've got $1m saved, thanks to a high paying job and being a miser.

>>11858081
I honestly don't mind living with roommates. The guys I live with are quiet and clean and I barely even know they're around, so it's no big deal. I can still bring girls over if I want and whatnot. I plan on living with roommates for at least the next 4-5 years or so or until I can live alone comfortably knowing I have a good amount of money in the bank and the extra rent won't be as much of a drag on my savings

>>11858119
>boomer
>10k in crypto
hopefully you've at least max'd your 401k/IRA before throwing anything into the crypto dumpster fire

>>11856410
I make 70k a year and have 74k to my name in 2 1/2 years, im 25 so yea

>>11856410
>Do any 30+ year olds actually have this shit saved up?
got a million+ here

>>11856410
Lol you don't have a dime saved up. If you did you wouldn't be mentioning it because you'd realize how pathetic you are.

>>11856500
Gold is savings

>>11858174
I'm hoping to hit $2.5M by 50 if I can and retire early.
Though thinking about kids in the next 2 years so that might suck up a lot of cash.

>>11858187
How?
The only way that happens is by getting money from your parents or being a crazy early investor in something/starting your own business.

>>11857620
What’s the stock and where are you from?

>>11858186
Good shit, my numbers are very similar

I make a little less than you (~65k) and am projected to save ~30k per year (so ~75k over 2.5 years). Feels good man.

When does one call it a day?

>>11858246
>How?
200k+ a year salary adds up

>>11858271
Post story about how you landed 200k+ job.

>>11858322
eh, i'm just another dev at FANG in bay area, leetcoding, what else?

>>11858335
That’s about 100k anywhere else. Not bad anon.

>>11856876
kids like you make me happy for the future

32, 2 years of "professional" (I don't even have a degree) work, 26k saved. living in south america. was poor as rat before... so I'm not even mad, though I wish I could buy my own house.

>>11857290
>My investments make more money per day (or per night while i sleep during ATH) than I make in a week at my day job
do you buy altcoins?

>>11858264
When you've got 25-30 times your living expenses worth of investments. Then you don't even need to rely on government pensionbux (that are gonna be inflated away lol).

>>11858252
Aveo and im aussie. They're exposed to the least expensive real estate in our country, bar a few places in sydney. Its basically a side organisation of mulpha and allied properties hk. (And sun hung kai & co)

>>11858264
I project that I'll have about $30k worth of annual expenses in retirement, and that I'll need my money to last about 25 years, so that's about $750k.

Of course, that's not including taxes and also some of the money will still be growing as I withdraw, so I'm setting my goal at $1 million. I think that's a solid number for me and will allow me to retire comfortable and spend my money freely.

I project that I'll probably hit that around 40 years old. Might continue to work until 45 or 50 though depending on much I like/hate my job by then. 50 is my max though

>>11858052
Dude I was 30k in debt 5 years ago.
You’re talking about savings? Lmao ok

>>11858614
If you lose your job and literally have no money to pay rent because no savings, it doesn't matter if you have 30k in debt or 300k in debt. I understand paying debt is top priority but you need at least a small buffer, so if shit hits the fan you don't end up homeless

>>11856509
>In "savings". So anything liquid.

>keeping more than 5k in liquid cash

disgusting

>>11858178
>hopefully you've at least max'd your 401k/IRA before throwing anything into the crypto dumpster fire

They are just about maxed out - will be by the end of the year.

im literally 30, earn 100k, and have 100k saved up

>>11858035

>>11856410
Yes, I have such an amount saved up. It's a nice buffer in case everything goes wrong.

>>11857654
Yea it’s almost all in a savings account, I really do need to get it in some index funds ASAP, it just seems like the markets so high that i don’t want to buy in now.

>>11858666
Noice, and nice satan trips

>>11858662
What do you use instead? Bonds? CDs? Or do you have everything that isn't cash in stocks?

>>11859204
iktfb.

I want to invest in real estate because fuck renting, but the market is shit for buyers. I am going to live like a king when the market readjusts.

>>11859204
>it just seems like the markets so high that i don’t want to buy in now.

Bad mindset. Think bigger picture. Your time frame should be years/decades not weeks/months. Doesn't matter what the market is doing today, it will almost definitely be higher in 10 years from now. The more you sit out on the sidelines the more you miss out on potential gains. Just throw it in there and forget about it. If you have unsteady hands, check on it maybe once and year and that's it. Think about it this way, even if the stock prices are going down, you're still generating income via dividends (which also get re-invested). Get that huge wad of cash invested ASAP

>>11858649
you're a cuck dude. shut up

>>11857961
plumber, how many damn plumbers do they have is it just you

>>11856410
>only 30k saved when you turn 30


this gotta be some kind of sick joke. Thats baby money. Aim to have min. 250k

>>11856410
By 30 you should have 100k minimum
By 40 you should have 1m minimum

>>11859455
my brother lives a total NEET lifestyle, besides running a business. He's 28 and has 500k saved up living and hes living with parents. I don't think he'll ever move out

>>11859477

>tfw will never be as successful as /biz/

>>11856410
I'm 30, make 11k and have about 12k in the bank.

I guess this means I'm a success. What a surprise.

>>11856450
based and NEETpilled

>>11859265
What would you recommend? I plan on talking to a broker soon and putting at least 10k dca into something

>>11859516
Do you have any retirement accounts (IRA, 401k, etc.)? If not, start there. Open an IRA and max it out for 2018 (5.5k) and designate 6k for 2019 and deposit that on January 1st. After that just go with an ordinary taxable brokerage account (assuming you don't have a 401k)

As for investments, go with low cost stock index funds. Something that tracks the entire market or the S&P, etc. 28 is still young enough that should be 100% in stocks, you don't really need any bonds until you're 10 years out from retirement. DCA is just another way to try to time the market. There was actually a research study done that showed that lump sum investing beat DCA 90% of the time or something like that.

>>11857975
Same boat bro except 27. I'm 25k in debt cous of it, but it helped it helped me get a decent job.

>>11859620
We will have AI in 30 years. Don't tie up your liquidity into time locked assets!
Doubly so right now, as the boomers face retirement and major losses to their wealth.

I have 20k and have never had a job in my life

>>11856500
>m-muh downpayments on my home
>my ho...no, the bank's home
>I'll just say I own it
>heh
C O P E
O
P
E

>28
>234k in liquid assets
>no debt

thanks bitcoin, you a real nigga for this one

pic unironically related

>>11858232
isnt it kinda sad, the average person can only do 2.5million by 50 for retirement. i mean how do people get to 10 30million by retirement.

>>11857591
What of all the 5G controversy and bans in some places?

>>11858232
Don't have kids unless you have superior genetics and contribute to eugenics.

>the average person can only do 2.5million by 50 for retirement

the average person has MAYBE 100-200k saved for retirement by 50. where are you getting 2.5MM from?

>>11856410
20 year old Aussie uni student with about a 15k networth. Tbh if I dont have at least a 250k nw at 30, i'd be disappointed.

>>11861175
That looks comfy as hell. Would live in/10

>>11857258
I make a thousand dollars a month (No what I """""earn""""" before taxes doesn't count, that was never ever my money), so if I didn't live with my parents, think what percent I'd need to pay in rent, then add in food, clothes, and medicine. Even if I buy the cheapest shit I'm still fucked.

>>11856410
i got a job half a year ago and i have 10k saved

>>11856410
imagine being such a normie dumb consumerfag that you only manage to save 30k on a 30k wage all the way from 18-21 to 30.

>>11861175
How the fuck are you supposed to live in this thing?

You ever tried to be in a van during summer or winter?

>>11856410
Be me
>24 yr old trade fag
>have 75k in checking
>fall for haus meme in late 2008
>be great, live in state that isn't 48 faggotry
>learn corporate niggers are bitches an hoes
>quit job, play tradie for years make good shekels
>become drunkard, run my liquid from 30-40k to about, I dont know anon...
>slinging 10oz bars at local purveyor to pay mortgages
Be me, mid 30s
>take tradie job back
>niggers know I fed myself for 5-7years
>wear tools for 3 weeks
>tell new GM his op is shit and only has my talent for summer
>hate having inferior exec's posturing like they wouldn't suck my cock in An-Cap
>following 8 months later making foreskin wages and I'm fat behind a keyboard running maggots
Be me,
Hate life only being part time drunkard.

I envy neets because I was/am one.
>wat do frens