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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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12926141 No.12926141 [Reply] [Original]

Maiden Voyage Edition

>Tell us about your personal finance situation and goals
>Ask questions and give advice about taxes, saving, and investing
>Discuss money-making opportunities, both active and passive

Online Personal Finance Education
>https://www.incharge.org/financial-literacy
>https://www.mymoney.gov/Pages/default.aspx

List of Low-Cost IRA Providers
>https://investor.vanguard.com
>https://www.fidelity.com
>https://www.schwab.com

List of High-Yield Online Savings Accounts
>https://www.bankrate.com/banking/savings/rates

QOTT: Have you ever calculated what percentage of your after-tax income you save?

For me, it's been between 45 and 55% for the past several years. Because I had a lot of wash sales I haven't finished my taxes for last year, so I can't exactly figure it for 2018 yet, but it looks like it'll come out to about 49%. I live in a relatively LCOL area and so don't have the highest wage, but every year of progress helps.

>> No.12926161
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12926161

my goal is to earn 120k so i can pay my parents back for college then kill myself. i am a quarter of the way there.

>> No.12926246

>>12926141
man I wish i could go back in time and visit old new york in 1930

>> No.12926515

>>12926246
>great depression
>buy coke at the fucking dip of dips
>replace warren

>> No.12926534

>>12926161
Your parents want you to have kids. You are forgetting inflation.

>> No.12926556

>>12926515
right? Make a 90 year compound interest trust, return to now, and have lawyers deliver it to my door next year.

>> No.12927174
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12927174

>>12926141
Bump, gonna type up some sort of contribution if I can do it before 404

>> No.12927216
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12927216

>>12927174
Ausfag here, the dream is to amass enough income producing assets to move to NZ where they have guns, never work again and vaporise goats with .50 bmg from on top of my roof on a large property.
So far have put in 5 years from age 17 with our excuse for an army. Has been good for nolife saving and investing, expenses are real low if you live on, $50/week for a room to sleep in, $35 for utilities. Do my own cooking, real poorfag shit. Lived without a car for the last 4 years which was also a big contributor. Free gym as well. The work pays 55-60k a year depending how much time you spend on excercise. Have saved 70-75% of income the whole time, and have nearly paid off a 250k house in SE QLD returning about 12k net per year. Use this info however you want, I just wanted to share the most direct path I have been able to come up with to escape shekel grinding. Will be quitting at the end of next year to scoop up a bargain small business from some dying boomer, at the bottom of the next market cycle ideally since prices are dumping pretty nicely over here already. Anyone else absolutely frothing to escape the cycle?