/biz/ - Business & Finance

>>13787305
learn how to trade and don't be attached to your money on an emotional level. treat it like a game score.

The secret of like 99% of rich people is being born rich.

>>13787305
a small loan of 20k with the expectation to pay it back in full within 3 years is good.

>>13787305
Israel has no right to exist

>>13787352

How would you suggest someone starts learning to trade?

>>13787305
You really wanna know?
I joined the army. I trained in a marketable skill. When I got out, that skill was worth 100K a year. I went cheap. I thought to myself: "What can I do to build wealth?" I looked at all legal options and I occasionally made a few investments using what little extra money I had. Then I held on. I didn't drop and then spend again. I thought to myself: "How can I use the market to grow my assets?" I picked up whatever book I could find on investing and found most of them to be worthless. I read the tech gurus and the investing gurus and I then watched to see how their predictions played out.
They generally failed. But in all the reading and research and all this other bullshit, I found one VERY important kernel of truth:
Greed drives you to take losses. Fear causes you to lose out on gains. So, I began setting limits. Let's say I buy dog shit stock A at .454 a share. I then hold onto that share and when it hits .48 I sell. If it drops, I set a limit on how far I'm willing to let it drop before selling. If it rises, I set a limit on how much it rises before selling. I then repeat.
Again. And again.
And again.

The question you have to ask yourself is this:
"How can I generate wealth? What can I do to earn money? What skills can I bring to bear and capitalize on?"
I can't answer that for you. And I'll also say this: If you say "I have no skills" Then you will never be more than a base rate wage earner. because that right there is the attitude that holds you back. Even when you think you have nothing, you still have something. Your body for instance, can be a good bullet sponge. Hell, you might even get enough training to turn that useless self of yours into an income earner. If you don't have a skill set that you're good at. Tell yourself that you're gonna learn one.
If you don't want to work in retail, see what other options there are.
And if all else fails, enlist. Think "What benefit is this to me?"

>>13787463
https://www.youtube.com/watch?v=GTtKLeDTCHo

The basics of basics. It won't tell you what to do, but it gives you the direction you need to be pointed towards.

Worked a greasy rental car sales job that allowed me to save up 10k in one summer while living on my own. Had to work 60-80 hour weeks.

Invested that 3 of that 10k into crypto in Spring 2017. I have never been poor since.

>23 degen permanently balling out

>tfw all you do is work at a gas station and then come home and smoke weed every day

>>13787352
ive been learning, ive done ok in the past but ive always needed to withdraw, plus it feels pretty pointless swinging $100 around. if that was $1000+ id take it more seriously.
ive taught myself python and web dev languages but im not good enough to get a job doing it, though its a hobby for my own projects, maybe one day ill try and get some formal education but it wont be this year.

an anon told me to join the military last year for gibs, I still could I suppose but surely theres other ways out of poverty besides dying for israel and selling crack

>>13787356
This was the hardest blackpill I've ever swallowed.

>>13787588
You get more than just gibs. Everything you get from the military is the benefit that was earned. You sign a contract that says "In exchange for X years of service we will pay for your college, teach you a marketable skill, and we will give you work experience. If you get hurt in the line of duty, you get free medical for life"
Last year someone gave you advice. This year you are looking for advice again.

How many years are you going to go not actually doing anything?
How many years will it take before you stop complaining?
Or are you just waiting for that opportunity to fall on your plate?
Protip: It won't.

>>13787557

What is your strategy? I have $5k+ I could start investing for small gains but not sure where to start.

>>13787531

Thanks!

>>13787509
>I trained in a marketable skill.
what skill was it?
interesting post ill need to mull over for a proper reply

>>13787618
>>13787356
This is actually bullshit though if you simply looked at the statistics.

>>13787655
Buy chainlink. Hold it forever. Stake it for passive income.

>>13787661
SIGINT.
Pretty much shoo in jobs doing defense contracts at 100K a year. Occasional deployments at 125-150K a pop, company stocks, plus seed money for the occasional day trading. Just to take a core investment that paid off and turn it into a nice and sexy nest egg of 5 mil.
When I graduated highschool, my families total income was 60 grand, and that was after both parents worked relentlessly for 20 years. I come from Ohio white trash. But I resolved I was going to have a better adult life than they had. I still do defense contracting. But only because I actually enjoy what I do.

>>13787648
>How many years are you going to go not actually doing anything?
I am doing something, im going to work every day, its not getting me anywhere but im not doing nothing.
>How many years will it take before you stop complaining?
im not complaining now.
>Or are you just waiting for that opportunity to fall on your plate?
no?

I asked a question and youve posted an answer, I'm not looking for anything to fall into my lap, nit sue where that presumption came from.

>>13787588
if ur not a pussy, get a trade or any labor job paying 15+ where you can work a lot of OT.
buss ur ass for a year and you have 10-30k saved. walla

>>13787741
don't fall for the military propaganda anon

>>13787672

Already have some. Not gonna dump 5 grand into it any time soon, too risky for me.

>>13787741
>Not sure where that presumption is coming from
>ucking min wagie pleb here, 23, tried a few things over the years but all have fallen flat.
I have zero fucking capital in my future, 1200 linklet, worked bs retail jobs since I was 16 and have been renting the same room for all that time.
>an anon told me to join the military last year for gibs
>maybe one day ill try and get some formal education but it wont be this year.

It's not so much presumption when you've indicated you have a habit of not doing anything. I'm trying to motivate you with some tough love anon. As long as you hold a "Not this year" attitude, your lot in life won't improve.

>>13787777

>>13787673
It depends on your definition of "rich."
I have known many people who were millionaires or people who made hundreds of thousands over a few years and they all ended up broke again. So just saying that most people in the 1% earned it and didn't inherit it doesn't mean much to me, because it doesn't take want most people would consider to be "fuck you" money to make it to the 1%.
Multigenerational wealth and "old money" is a different story completely. They are the ones who truly own everything, and they are the only ones who are actually "rich."

>>13787782
Not that I'm saying you should go all in link (although I am 90% in it), but there is a dissonance between your dissatisfaction with your position in life and your willingness to take risks/seize opportunity to effect positive change. Fortune favors the bold. Luck is the intersection of opportunity and action. These are cliches but all that means is that the wisdom they hold is timeless. The most important aspect of turning your life in a new direction is changing your mindset and habits. Time is your most valuable resource - take a hard look at how productively you are using your time in pursuit of personal development. Most of us waste hours per day on things like TV, video games, 4chan or reddit and basically pretend that time doesnt exist. Find an area of passion and dedicate yourself to mastering it. Get addicted to self improvement in all areas of your life. Get addicted to buying assets rather than liabilities. And do not be afraid to take calculated risks! Your financial risk profile should be aggressive when young (since you have time to learn from mistakes and bounce back) and reduce over time. Making a great investment early on can change the entire course of your life - whether that be creating capital that you can use to seize future opportunities, or reducing your dependence on a wage and enabling you to spend more time exploring interests and working on self improvement. And remember that intelligence is far more scarce and valuable than a straightforward work ethic. You should identify as a lifelong learner - this will keep you curious and excited about many facets of life, and will help you to identify opportunities that most others will miss.

>>13787305
I'ma give you the only real advice in this thread.
There's two ways to make more money in your situation:

1)Learn a marketable skill
2) An external promotion (new job) is statistically the best way to get a raise.

Enjoy.

>>13787987

You just said a whole lot of nothing there...

I'm not 'dissatisfied' with my position in life. I have $5k I'd like to start investing for small, realistic profits. Going all in on some random shitcoin that a Mongolian underwater wallet sewing forum would be absolutely retarded. I couldn't think of anything stupider someone in my situation could do, honestly...

I'm not 21 and looking to make a million dollars in 2 months from $5k because, again, that's retarded.

>>13787655

My strat is buying RSR
the number one strat in crypto is ABSOLUTELY NEVER fall in love with your bags. You must not get married to a project, be ready to dump anytime the slightest red flag comes up, else your confirmation bias will have you hold to zero

also understand sunk cost fallacy and do everything you can not to commit it in this game

>>13787305
Real estate

You can get rich with no money

Electrician