/biz/ - Business & Finance

>>12782328
Don't worry about those nerds that never had to have earned anything. Don't rely on crypto for making it.

Your high

getting ur money urself is more satisfying

>>12782344
>duh

>>12782342
how do you not /makeit/ when you've had a century+ worth of asset building and generational wealth? Do people just pass on massive debt or not think about their child's future?

>>12782328
>Great-Grandfather owned 30,000 acres of land in the US Wild West (land grant)
>sold it to some oil company for 100k USD instead of getting oil royalties for the rest of our bloodlines existence
it could be worse OP. your family could be like mine and have it only to give it all away.

>>12782409
at least your family had land anon.

>mfw great grandparents were slaves

http://money.com/money/3925308/rich-families-lose-wealth/

how are you so dumb that you blow away millions of dollars in a lifetime? seems like a meme

This version is more appropriate, op

>>12782523
thanks anon

>>12782436
tfw parents were slaves
fuck ussr, fuck communism

>>12782328
i believe in you anon, be that patriarch that the rest of your family line looks up to

>>12782374
You idiots are the reason why there is minimal class development in the us
> muh earn it yourself
We wouldn’t have a generation full of kids hundreds of thousands of dollars in debt if boomers would help their children set up “dynasty” of sorts instead of blowing their wealth on a Rolex and a BMW at 80. Your almost dead there is no reason for you to flex.
Good thing my parents aren’t white and all of our family supports each other. No one over 20 doesn’t earn at least 6 figures.

>>12782328
You could be a shit eating starving kenyan, be grateful you fucking incel

>>12782584
>this
why would building generational wealth for your family and its namesake not be your top priority - especially at that age?

>>12782601
cope

>>12782584
like there's not really an IQ barrier to building a dynasty. real estate, stocks, and trust funds right?

this is now a plan your FIRE and generational wealth thread

>>12782374
Right here. When a man makes his plans, works on them and realizes them it's one of the best things in your life.

>>12782584
If your kid is an idiot there's no use setting them up. The chaff will sort itself out from the wheat so you're just delaying the inevitable by giving retards

>>12782701
no not really just follow the plan of my my families generation
>come to america
>work your ass of at any job u can get (commision based is best since more leverage with your time)
>save up and buy truck or small bus (gasstation,subway,furniture store etc etc)
>help other family members buy business
>expand
>outsource the financial stuff you dont need to really learn about investing and stocks that much middle-class ppl can just buy IULs and be fine
>next generation has money to go to college or continue business their choice
>built connections allow jobs anywhere
also, you do not need to live FIRE. my parents still spend money but within reason. the whole point is building a stream of wealth not only a bunch of saved money you got from your 401k.

>>12782784
don't have only one kid. if your kid is a retard that is your fault. should have disciplined him harder

>>12782584
>No one over 20 doesn’t earn at least 6 figures
what career?

>>12782772
you can still make plans and earn money passively though.
>>12782784
like you could literally spend all the time you would have mindlessly wageslaving, instead learning about how to manage wealth and make a network of connections?

seriously - how do you not make it when you've been given a silver spoon in life? what is life like when you've been born into comfy tier privilege and learn how to keep it?

>>12782844
small business, agents (real estate or insurance) if not they are in schooling if they had good grades its (law,comp sci, finance, engineering) if shit grades medical or they are forced to run family business

>Born to rich family
>Still ugly, autistic, depressed
It doesn't fix everything OP

>>12782503
Maintaining wealth is hard. Every generation you lose half to the government and split the remainder up among children. If you have 3 kids and you die with 1X wealth, your kids get 0.16X each. Even if you're being smart, it's hard to get investment returns that overcome tax/dilution.

>>12782833
in this way, generational wealth is a ((pyramid scheme)). there's always a first generation and there are families who have been outsourcing/min/maxing longer than yours.

yeah frugal living with passive income streams from a hobby I enjoy/investments is the goal

>>12782374
i'm not sure i believe in that anymore man

my parents handed me a lot and i just want to use my computer and be left alone. I don't care about girls, cars or big houses. I just wanna talk shit with my friends online.

>>12782884
Yeah I guess there's estate tax but still - a substantial investment in real estate or stocks from a century ago, given that that portfolio has been properly nurtured, would set 3-5 generations up for wealth easily. Rinse and repeat.
I would argue that there are easily pursued means of outpacing this tax/dilution

>>12782890
how is this a "pyramid scheme" we don't ask for the money back once we lend to family. we understand that you are supposed to help each other and not ask for anything in return. the others act the same its a cultural thing.

>>12782584
>arent white and oll of our family supports eachother
t. niglett without a father

>>12782961

whitey is angry grandpa cared more about the watch on his wrist than his grandkids

>>12782961
>>12782584
>supports
>niglet
Dude is asian. only select whites and asians do such a thing.

>>12782957
woosh.
take your family's network and extrapolate it to the outside families they depend on for basic necessities and living goods. this is ((their)) system.

If you are alive you already won life lottery, less than 20% of males have been able to reproduce through history, that means that thousands of years can end with you if you fail.

Lucky events are the twin good looking brothers of unlucky events, the same size a green bart can go its the same size a red dildo can go.

You are living the unique period that englobes the death of arithmetical jobs/tasks and the change for exponential jobs/tasks.

You saw the creation of machines and will probably live to see they replacing human labor.

Peace

>>12782328
your great grand parents probably had more wealth than you'd believe
it's all been stolen by inflation

>>12782986
the technological singularity is unironically the reset of the ((system))
>t. based and redpilled

>>12783002
Believing in them only having pennies to their name, working on a plantation they didn't see the profits of, and no concept of saving against inflation is a low bar anon.

Imagine being even slightly aware and capable building a small dynasty 3-5 generations ago.
>inb4 muh reparations

>>12783013
No, its literally the start of the control, mass surveillance and final enslavement/entrapment of the human race.

>>12783047
>pretending like you're not already in the matrix waiting to self actualize

>>12783054
Pretending we can do anything else than play the 4d version of GTA San Andres with Linkshills mod activated.

>>12782939
>I would argue that there are easily pursued means of outpacing this tax/dilution
Well there's a reason the entire wealth management industry exists.

It's still a challenge though. Lets say you have 3 kids. When the kids are born, you have 1x wealth. You want each of your kids to have 1x wealth after wealth transfer (say in 30-40 years). To offset a 50% tax and 3x dilution, you need a 6X return (inflation adjusted) over that 30-40 years. It's doable, but not easy. One bad economic cycle could fuck you over. And mind you this is just to keep your children at 1x. If you want your children to be better off, the required return increases.

Basically it takes a really well managed investment portfolio plus a lot of careful tax and estate planning. It's also easy to see in hindsight what investments would give the best multigenerational return, but it's hard to make those decisions in the moment.

At the end of the day, families grow exponentially, and getting exponential investment returns is hard. If each person has 3 children, a family tree from one person becomes 81 people in the 5th generation. You need large, consistent returns for everyone in the 5th generation to have the same relative wealth per person as the first.

And on top of that all there's the politics of family. Your best way to get elite institutional services is to pool assets and invest together. But that means staying in business with your family, which can get messy. I'm in the 4th generation of this shit and it's hard enough. I don't know if we'll make it to the 6th generation intact.

Which is all to say there's a reason wealth tends to only last 3 generations.

>>12783061
ahh yes the ultimate fantasy. the hivemind shitposting on an anonymous online asian brapper trading card forum.
>we're all gonna /makeit/ again anon

>>12783101
What else could be, eh?
Lets just have some fun and enjoy the ride

A yekshemesh I em a King Abdul Hassan Azerbat. I em rich like monkey on a pogo steek. I have three mercedez benz , one tiger and four wowie mowies. Wowie mowie, wowie mowie.
You not living if you are ded.
Invest
Digest

>>12783119
there are better rides tho

>>12783151
Yo shakalabim muhhamad habiibb can you get me a job?
Thanks!

>>12783156
Who knows

>>12783158
A shakhali soukh yekshemesh I own Trump tower Abdul Aziz, maybe
We do eenterview see qualifications yes
Kweston Wan; do you like a the forex stock exchange? Make a me money?

>>12783170
Soukh Eldicki Oveladibois habibi, very good enterview I passa on interview reade to work great great my man gona make many many very cash money you know?

>>12783190
Cash money cash money yekshemesh greats tyle. You pretty boy smart, i liek i liek knowledge yes make money yes

>>12783170
Very naice forex my sir ready to worke ehh
Green candlos everytime you see money cashing $$$ big cash ow yeah fuck yeah my man!
>>12783202
U knowh eh green towah like a bigg gigantic florest green like money $$
Wee make many many very money $$$ go club dling dling dling EL HABIB ARRIVED woman lovee us lovee $$$ we like sir

>>12783202
>>12783214
shoo shoo

>>12783230
Ohh Quraamm Allahhhh oohhh Quraammm Allahhh!

>>12782328
If you are American, you already have the tools to make it in the eyes of the world. We are god kings of the world if we can overcome our faults and shortcomings and keep our success paramount. LINK will just be the beginning. Our scent will be left on the world for the next thousand years like magic elves that showed humanity the way and then left it behind. I love you all.

>>12783246
thanks for the bedtime story. the hopium feelsgoodman. can't wait to start that cat girl mansion dynasty

>>12783278
Not hopium friend. Confidence and knowledge. LINK is a pretty safe bet, but even if it fails, we have already succeeded if we do not succumb to our weaknesses. STAY POSITVE AND LOVE THE WORLD AND FORGIVE IT FOR HOW IT HAS WRONGED YOU. YOU WILL HELP FIX IT. WE WILL CREATE AND CONSTRUCT.
Don’t fret. Just wait and see.

>>12783470
I want to believe. See you at the yacht party anon.

>tfw grandpa was loaded
>tfw he gave it all to his kids, none for the grandkids
>parents have made it clear that I'll never see a penny

>>12782919
its cool for a while man but its gets sorta unfufilling after a while man

>>12782784
this
an overwhelming majority of family fortunes go within a generation or 2 regardless of race.

>>12782342
That's not what he means. He means having that 50k cash to start your business at 18 instead of 27.

>>12782409
Mine had a major brewery, an international shipping business & jewellery. Grandparents just sold it all & blew it before I was born (they inherited it from their parents, from their parents etc). Whinge at both my mother and me for not magically being rich (they never even paid for her college ffs). Doing OK now since I unironically learned to code, but seriously boomers are going in the oven next to the kikes. Actively fucking over your offspring is insanity. Those with no stake in the future deserve no say in it.

>>12784639
>this
you get to enjoy your wealth with your health