/biz/ - Business & Finance

Paying rent. Just sleep in a van or truck if your parents are nigger tier and wont share their house.

>>14038667
Faggot everyone should have a 401k

Jesus Christ this board is full of tards

>>14038698

>>14038698
Are you sure YOU aren't the retard here anon? There's a reason everyone is obsessed with crypto. In 10 years from now try not to kill yourself, be like everyone else and chalk it up to "oh well they just got lucky and I didn't".

>>14038667
I almost fell for the 401K meme too OP. Want to know what my company does? They match 100% of up to a certain percentage but you have to stay and wagecuck for that company for 5 fucking years or they pull everything they put in out. I won't even NEED to wagecuck in 5 years if [REDACTED] takes off

>>14038698
im self employed neet, where can i get 401k??

>>14038712
google

>>14038667
investing in anything other than guns ammo and oil

(((Roth))) IRA sounds good until fifteen years from now when they fuck around with the rules and make it taxable when you retire :^)

Bitmex

> selling time for money
> high school
> college lmao
> women
> houses
> cars
> insurance
> focusing on cutting expenses
> jobs
> government (in any way)
> victim mindsets
> Spending any time with poor people
> living in the middle of no where
> crypto

>>14038709
401k employer match is literally free money. Your employer plan is shit though if they take out money, I am amazed that is even legal. That plan is complete dog ass. If the markets go down they are literally stealing money from you at that point.

>>14038712
You want a self employed pension SEP IRA

You can put 25% of your income away tax free and it's also deductible against your income. Which helps greatly when it comes to Self Employment tax

(if you're self employed you have to pay the employers share of medicare/social security taxes which is commonly known as the self-employed tax. roughly 15.6% over your regular federal, state and local tax income)

Small businesses be getting fucked with taxes but it all evens out because you can deduct a ton of personal shit like your cell phone, car, part of your home/apt, etc.

>>14038667
all of these investments assume that I'll make it to retirement age.

>>14038667
Savings account. I have a faggot friend that has 40k in a savings account. I explained to him how he is actually losing money due to inflation, yet he does not care. He said he will care about retirement when its time to retire.

What a complete retard.

Question for you all.

I currently have:
>4 store credit cards with small balances that I used to build credit a year ago before I bought my house
>got approved for a United explorer card from chase
I want to transfer the balances onto my United Visa so that I don't have shit everywhere and that way I have 2 Visas and a Discover card that I can use anywhere depending on what kind of rewards I want to build up.

Should I put the store cards in a drawer and just carry minute balances on them and pay them off every statement or should I just close them all? They're all a little over a year old and I do go to the stores, but I think having 7 credit cards is a little excessive and might look bad.

Thank you for your tips and opinions.

>>14038667
>>14038709
401k would be fine if there was a way to invest that money in crypto. then it would just be tax free crypto.

>>14038667
silver. ammo. I fell for the "world is going to end" meme. I spent like 4k on that shit. Just get a pocket pistol and like 40 bullets and dont worry about it. Ruger LCR or LCP is good. Not having any guns at all is sort of dumb though. Especially if you own crypto and people know about it.

>>14038698
401k is bullshit.
>good bootlicker. Have a 401k account. We'll hold you're money until you're 60.
Total bullshit.

I don't even know what a 401k is.
My ex was upset with me for not putting a down payment on a car and instead purchasing a used honda. I never understood why people willingly enslave themselves. Just buy what you actually earn.

>>14038935
I did the used car thing for a while and I did buy a newer used car for my last purchase, but I financed it this time around. Honestly, I just write it off as a business expense, so it works out to be basically free.

I wouldn't really consider buying a new car, but getting one that's 2 or 3 years old is a big step up with the newer shit coming out. Newer cars are in a league of their own.

>>14038935
>>14039018
idk bros. I think having a new car is worth it because of the reliability. Fuck I hated having a car that would break down.

>>14038744
Not happening retard. Do you know how much money (they) make off commissions and fees from normie Roths? Last thing they want is for that oil well to dry up.

>>14039018
I prefer older cars honestly. You can't change steering fluid, brake fluid etc. on a new car and old cars don't have """smart car""" technology tracking your every movement for some corporations profit.

>>14038888
If there is a crash he would have some good opportunity

>>14038667
BTC

>>14038667
buying SQQQ

>>14038896
7 credit cards won’t look bad. I would keep them all. Use the card you like the most, but use the others occasionally. Closing that many accounts will lower your credit.

Look at selling credit trade lines. That is basically adding people as authorized users on your credit card, except they won’t get your card or know you added them. It’s a good way to make passive income. Look it up, research credit trade lines.

When I was growing up and in school I felt I could see the thought process behind a 401k but in a post-crypto clown world it just sounds utterly insane to me. Given my projections for the trajectory of my wageslavery (purchasing power, hours worked, etc.) I am guaranteed to kms well before I can cash that out. Meanwhile my boomer parents are getting hit with fees when they cash out, or something else adjusts like their healthcare/ss to balance out the savings from their plan. You always get jewed in the end. It pisses me off that they EVER allowed a literal ponzi like SS to exist, wherein we have people who never even paid getting to dip their hands into the pot. Then when it's finally your turn you inevitably want to keep the scam going at any cost because it's considered a sunk cost for YOUR SHARE. Who is going to prop up their bags as they are dying and cashing out?

I put 15% into my 401k and also buy crypto, I can’t fucking lose

>>14038888
>>14039056
>if there is a crash
>if

I have news for you... it's coming sooner than you expect

>>14039032
That was a big thing for me too, reliability is really good now, even though I do all my own work.

>>14039046
I get you, I have a 1970 F100 and I drive a newer Jeep Cherokee trailhawk. I love both for different reasons. I scored the TH for 18k with 30k miles, original sticker in the glovebox had it at 34k new and it was a 1 owner driven by a woman. It's seriously the greatest jeep I've ever owned and I've had 8 at this point of different varieties.

My F100 is a huge pain in the ass sometimes, but I love the boomer vibes and I'm a blue jeans and white t-shirt hipster faggot so it goes with my style. It's torn apart now and I'm working to solve the driveability issues for good.

>>14039108
Great insight dumb nigger, of course there will be a crash. I bet if you keep saying it will be soon eventually you will be right.

>>14038888
Read 1984. You're talking to a prole. They are not self aware. I've tried to beg my normie friends, just make a Robinhood account, buy 100 dollars in crypto and put the rest of your savings in the S&P 500 and don't touch it till you're 50, they look at me with this dismissive look like it's a herculean task, like I'm asking them to run a marathon or some shit. Some people are predestined to be poor, it is just biological.

>>14039140
Your friends are retards and they say you are the average of the 5 people you associate with most.

>>14039032
>>14039018
I get that but I would rather own my shit than have payments on stuff. I had a '00 Honda too, NEVER had an issue till I wrecked it myself. Love those rice burners. I'm a musican with low standards though.

>>14039140

I can’t wait until you become self aware you’re surrounding yourself with a bunch of dumb poor people here on /biz/

>>14039134
The economy is pretty much on the edge of a recession (or even in the early stages of one) by every indicator bar the price of stocks. The yield curve curve inverting, high amounts of junk corporte bonds, high default rate on auto loans, trade tensions, to name a few. Don't worry though this time it's different

>>14039032
i bought a 2017 toyota yaris for 11k after taxes. New cars beat having to fix your busted piece of crap all the time. Plus the AC works.

>>14039199
I'm aware of it
I don't know why I still come to this shithole, I guess it's nice and mind numbing like TV and there is always the .1 percent of posts where you learn something relevant inbetween BRAPPP and crypto shill threads
You can really never leave

>>14039226
Id like to have you explain what the yield curve inverting means or is that just something you heard Jim Cramer say? If you think you can predict a major stock market crash then you wouldn’t be on /biz/ talking crypto with a bunch of neet faggets.

>>14039140
I managed to convince this retard to buy 50 dollars in bitcoin back when it was at 3800. Then he bet it all that bernie sanders would become the next president of the united states, I shit you not. The stock market is still a bridge too far for this guy I guess.

>>14039248
It's such a hard concept to understand people rushing into bonds raises their price, which lowers their yield. This signals a huge distrust in markets to the point where they will take a worse return on a 10 year bond than shorter ones with higher return to at least have a stable income source

>>14039140

I told 30/40 people about Chainlink over the last five months when it was between .30 and .80 cents. People I knew from my work that I liked and perceived as reasonably smart. Only one of them seemed to be seriously interested in it, even when I showed them breadcrumb pictures etc, but ultimately invested nothing.

Not a single one of them invested anything. Most of them didn’t even take the time to listen to me even when I showed them how much it has gone up, like I was trying to scam them as I took time out of my day to give them a crash course in crypto and a friendly heads up.

Most people are what their ancestors were, 99% of people are descendant from serfs, and that is all they know how to be at a genetic level. Leader vs follower mentality, drive to rise above what you are, and be more.

These people are rare for a reason. I’ve decided if I do really make it I may hand out paper wallets with a few tokens to those I care for, but I may do nothing, they wouldn’t know what to do with them or take the effort to learn, would be a waste and wouldn’t change their circumstances.

401k is a normie trap, Tax returns is another one. Giving the government a free 12month loan of your money with no interest. Genius.

>>14038709
Or you could do both you tard. I have 20k [redacted] and 5k in my Roth IRA, in my first year of work.

>>14039526
Put that 5k into [redacted]. What the fuck are you thinking.

>>14039505
ChainLink is shitcoin vaporware but I agree with you in the sense that if you told them about any other crypto or about a profitable stock with good fundamentals and news you would still have 0 people give a shit out of 40

>>14039635
Anon you don’t have to FUD your own investment here in the dank corners of this thread.

At least I hope that’s what you’re doing. You do have 1K LINK right?

>>14039674
>mainnet takes years to impliment
>supposed to be decentralized token
>nodes end up centralized KYC
>sponsorships under """NDA"""
>no real use case beyond autistic fantasies
It really FUDs itself

>>14039713

I wish you Godspeed fren and hope you don’t get rekt, that’s all.

1-1.2k USD isn’t a lot of money for peace if mind, I could refute all that FUD pretty easily but I’m tired of wasting my time.

Good luck and God bless.

>>14039327
Thanks

>>14038698
>401k
>superannuation
LMAO
anything that's for the masses serves to fuck you over and nothing else

>>14039032
you bought a wrong car
1990s toyotas still run well if serviced regularly

This board has such shit risk management that it hurts.

It's a tax free way to save money and any employer worth their salt contributes to it. Your 401k is guaranteed to still be around and to have grown in value. Your shitcoins, not necessarily.

>>14038888
Your friend is shockingly retarded. Best to just accept it and move on.

I have wanted to cash out my retirement accounts and boomer investments so badly for the past 3 years and put it into crypto. My mom is my financial advisor however and I work for her on weekends and get free education on finance while doing it, so im obligated to put in at least 50 bucks a month.

>>14038694
>just shit in the woods and drink puddle water
Damn all that money wasted on rent that could have gone in the 401k

>>14038744
Damn, I got hard

>>14039526
Yes I'll go ahead and put money I could otherwise put into [REDACTED] into some boomer stocks at the ATH, great idea anon.

I'm all or nothing motherfucker

>>14038796
lol what the fuck are you supposed to do then?

Don't work, don't invest, don't go to school, don't invest in real estate, what's left?

>>14040678
Suicide

>>14038667
having sex

>>14038667
LINK

>>14038844
That's what investing is...