/biz/ - Business & Finance

I'll have a million by 60! Yeah!

Well said. But people hate hearing the truth, unfortunately. Maybe I'll start a school of crypto currency trading to fleece some idiots

>>1471381
Truth OP, people spend way to much in general.

>>1471381
>>1471414
>>1471735
>>1471744
t. Defeatists

>>1471381
why not start a company?
not a fund nor a scammy mlm bullshit but a solid company? Talk me out of doing that plz.

>>1471758
Well I think something like 1% of new business succeed after 5 years (i.e show net profit). And almost all businesses show loss for the first few years.

If you want to start a business, you should have enough money to support yourself for the inevitable loss period(s). I'd say an easier way to make money is to get into real estate. If you're a first time home owner, with decent credit, you can get a FHA loan with low down and competitive interest rates. The caveat is you have to live in the house for at least year, but this is fine as long you buy a multi-plex.

2 or 3 (even 4 if you can find one) family houses are a good investment with this type of loan. All you need to show is that you have stable income high enough to pay the monthly minimums. You live in one unit, rent out the rest to cover the mortgage and make some extra profit (which you will need to cover costs and vacancy downtimes)

Finally when the value of the house appreciates (which it will if you bought the right house at the right time) you can use a 1033 tax-deferred exchange to sell the house tax-free and use the money to move into a bigger, better house and do the same thing all over again.

Op's advice is astute in that sense--you'll need savings for the down payment. But just hoarding money is a useless endeavor; put it to work.

>>1471773
good advice.
why not have a profitable company, take loan and risk in the company name and acquire real estate that way, pay yourself a salary or dividends, and liquidate when you feel that the timing is right. Rinse and repeat then.

>>1471800
Well the first point
>have a profitable company
is the problem. As I stated in the other post, this is not trivial to achieve.

However, otherwise the plan is quite solid. What you're describing is pretty much a REIT, it can offer great tax shelters but it also requires a large amount of starting capital (i.e investors). You'll also need lawyers to set up the REIT.

What I suggested can be done with anyone with some savings, a good credit score, patience and the intelligence to profit, not when you sell, but when you buy.

>>1471806
yep.
but i realize you could do this without even have a profitable company. The llc will just act as a proxy to transfer risk, but I recon that a bank will be more wary to loan to an llc.
anywas good intel thks anon

>>1471381
I can confirm this is true, but boring. I am 30, make just under $100k/year and have a net worth over $500k by saving aggressively and making relatively conservative investments (including a house). This is not glamorous, but at least I know I ought to be able to take care of myself and retire at a reasonable age. I'm content with my decent house, reliable car and small luxuries.

>>1471815
The real path to wealth, though it sounds cliched is to be satisfied with whatever you have.

The guy who always wants more is always going to be poor.

>>1471822
kek fuck that

>>1471822
Everyone wants more you faggot, we're the ones actually working to have more.

>>1471381
Good advice ,I built up $65k in savings by cutting my spending down ,You don't need a brand new car or the latest phone/gadget,I see so many people living from paycheque to paycheque yet insist on buying the latest smartphone or Xbox ,car on finance etc

>>1471822
Confirmed. I used to be materialistic when I was in my teens and early 20s. At some point, I realized that is a never ending ride. I appreciate what I have but still strive to improve myself. I'm not thinking about doing it because I want more stuff though. In fact, I have spent the last five years consciously getting rid of a lot of a lot of the things I've acquired over the years. It feels nice to be happier with less. I don't expect everyone to share those feelings though. If I told that to myself ten years ago, I would have thought it sounded stupid.

>>1471822
>>1471838

>This is what poor people tell themselves.

>>1471841
Poor people tell themselves its hopeless because they are being held down by the man and they spend what little extra money they have on frivolous things. Or are you calling anyone who isn't a self-aggrandizing narcissist a poor person?

I don't think you get the point of having money OP?
You don't make money so you have money and you tell people "I have money".
You make money to spend it on shit

>>1471381
every person that i met and told me "money doesn't matter u kno ;^D" were in a comfortable financial situation.

>>1471822
>I couldn't succeed at investing so no one can, the post

>>1471381
truth
backup:
>http://millennialmoneyman.com/5-money-hacks-will-help-pay-off-student-loans/

>>1471773
>I'd say an easier way to make money is to get into real estate
stopped reading
STAY KEK. GOLD STANDARD.

I just made about 150 BTC this year from MAID, XMR, ETC and FCT. I started with 15 BTC.

There have been several projects that have performed amazingly well. Synereo went 1000%+, imagine I invested only 100 bucks on that.

You guys are fucking PUSSIES. Saving money = coping. Working while knowing you'll be a cuck for life = might as well kill yourself.

If you are not a lost cause grandpa and you are a 20 something NEET with a lot of free time and you aren't reading about crypto 24/7, you deserve a bullet to the brain.

There are so fucking many opportunities to get rich.

>>1471968
Aware me, Friend. I'm a 20 something NEET

>>1471858
Money doesn't matter, you know.

Saving doesn't get anyone financial independence. You get financial independence by starting a business that everyone needs. Basically investing and entrepreneurship are what lead to success.

>>1471972
start here
http://alunacrypto.blogspot.sg/

>>1471381
>Stop looking for items on AliBaba to sell on Amazon.

but anon I know people selling 100k a month doing that you just had to find the niche. and a lot more in their way to 50k.

>>1472087
Yes I just ordered a crate of private label beard oil from China. I project my first $1,000,000 in sales within the first week.

What if I save money, make low risk investments, and spend a dollar a month on the lotto?

>>1471381

By 'save your money' you mean 'invest your money', right?

Keeping your purchasing power in cash is a terrible idea.

>>1471773

> 1% of new businesses succeed

Because almost everyone is stupid and starts a dumb business like the 724th Italian restaurant in London or the 4,042nd bar in New York. Once you filter out all of the obvious no-hopers, the odds are a lot better.

If you start a fundamentally new business that meets a genuine need, you have a much better than 1% chance of success.

Can I just buy a tiny little shack and a soda dispenser and man it like 12 hours a day? Profit margins on soda is around 200%.

>>1472340

What is the maximum you think you could actually net per year from such an operation?

>>1472340
Probably better to get a cart and cruise around popular beaches

>>1471754
This.
I'll fight for my freedom until I find it or I die.
Fuck working hard. Work smart

>>1471414
Wrong nigger. I'm 24 and have saved 35K+ per year for the last 2 years.

My expenses consist of seasonal parking for metro, metro ticket, gym membership, supplements, and clothes.

Parents pay for everything else. Million by 60 is only for cucks who can't force themselves to save over 10-15K a year.

>>1472401

Not everyone is a spoiled bitch who leeches off their parents. Men have mouths to feed and hold their own. And no matter how much protein u drink and weights you lift it wont make up for you being an autistic small cock no sack faggit.

>>1472430
Just because couldn't give you any advantages doesn't mean you have to be rude to him.
Envy is unflattering on the macho manly man you want to pretend you are.

>>1472430
>>1472455
Just because *your parents

>>1471381
> save your fucking money.
HOW you fucking retard? How can you save money when you're a minimum wage loser who can barely make ends meet? How can you save money when all your cash simply goes on tax payment and food? You fucking ignorant retard.

>>1472458
Because you have no money, your most important resource is time which you should be using to educate yourself so you can get a better job do you can save money

>>1471381
let's say I'm an average American making about $40k/year.

now let's agree that that's about $30k after taxes.

next let's pretend the bare minimum I can survive on is $15k, half of my take home. I'll be living in a cardboard box and eating ramen noodles and cardboard three times a day. But let's pretend.

So if I live like a little homeless person I can perhaps save about $15k/year. If I wanted to save $1 million I'd need to work for 67 years while living in a cardboard box and eating ramen noodles. If I start working at 18 I will be 85 years when I have saved a million bucks.

this is perhaps the worst financial advice ever offered on /biz/. Congratulations.

>>1471381
Yeah but how does someone become a millionaire by only saving their money?

You are restricted to only making as much as your job is willing to pay you.

>>1471858
There isn't a one size fits all rule when it comes to the emotional value money

>>1471773
>Well I think something like 1% of new business succeed after 5 years (i.e show net profit).
about 90% of that can be chalked up to businesses set up as flow-through entities for tax purposes.

the remaining 9% would be because the general public is a pack of idiots when it comes to business ideas and principles.

The successful 1% are the few that are trying to make money rather than lose it for a tax write off, and intelligent and persistent enough to know what works or keep trying until they find it.

If you already know how to run a business and know what makes money your odds go up significantly. It's no accident that the same people usually launch multiple successful businesses while others have several failures. The idea that any idiot off the street can start a successful business is bunk, but lots of aspiring entrepreneurs fall for it.

>>1471381
>Stop looking for the holy grail stock or crypto.

Ok I just stopped reading there, after i made thousands off monero

Real estate is the shit. I own a small but tidy house in a nearby town. Its rented out and makes me 70 bucks a week after mortgage and insurance. And when I retire I'll have my own freehold house to live in, all paid for by someone else

>>1472579

> $70 per week

Is this a joke?

>>1472504
I've heard that it's not so much a predictable percentage of businesses that fail, but a predictable percentage of ideas.

>Ok guys here is the secret to being financially independent

There isn't a universal secret retard, people will find what works best for them.

>>1471381
>lol the secret to being rich is just to save money and live like a hermit and not try to aspire to be more successful lol

Piss off.

>>1471414
If you have a good job and invest your earnings, you'll have much more than that

>>1472543
This. When will nocoiners learn?

>>1472463
>everyone has the brain wirings to learn higher paying jobs
is this how you cope?

>>1471854
no fuck off consumerist pig
money is power

real money, not tied up into assets like some shitty house in suburbia

>>1472807
no one cares about your piddly thousands, NEET

a diversified portfolio of 1 million will give you 40k to live off of for the rest of your life

>>1472822
>cope

enjoy your granny investments.. you will never feel the rush of buying something at 1 cent and selling at $12 a piece because you are a nocoiner.. you are a financial retard

>>1472822

> 40k

> live off

> live off 40k

>>1472828
>hurr durr look at me i live in nyc or sf

>>1472835

I don't even live in your 'United States'.

>>1472839
ok well rent for a 1br here is $800, so just to have a nice place to live with utilities is like $12k/year
the rest can go to food, entertainment, travel, and hobbies because you have no debts
in addition youre only taxed at long term capital gains rate in a taxable account

this is financial independence

>>1472843

Why would you want to live in a one bedroom apartment like a penniless student or a recently-released convict?

>>1471381
t. Bank Owner

Most savings account net you nothing because of current steady inflation rates, im not looking to sit on my money, I want to make more of it. The only people who profit from banking are the people who run it.

>>1472340
Been considering this but 24 hour vending machines.

Then its unmanned and 100% profit. Crime is low here and i do expect an occasional cunt, im putting hidden and obvious cameras all over that bitch.

There is a near 100% chance i can figure out who it is just by face.

That being said the initial cash investment and low foot traffic makes me thibk im about to wind up with a cuckshead and 7 vending machines to unload ;( dunno.

>>1472458
>ignorant
>retard
>tryhard faggot working for minimum wage

Anon i make 18 bucks and hour 50+ hours a week when average starting pay is 13 bucks at my job.

Fucking stop flipping burgers and blaming everyone else.

Get a job that requires actual work....

>>1472483
>Mfw that million bucks in 60 years will be worth like 140 bucks.

KEK

>>1471972
Buy ethereum

>>1472708
The fuck would it be a joke for. So long as expenses and tax are included thats pretty good. Not to mention depreciation tax rwrite off and hopefully its in a neighborhood that is appreciating.

How many houses could u afford to own for $280 free money a month.


Ill take about 10 million please.

>>1472822
>diversified portfolio

You mean diversified accross asset classes and not just paper assets like a fucking newfag cuck right?

Because if not u had better learn real estate and oil investment and other before 2008 comes back and dicks u down like the faggot you are being.


If so then yeah, lol. This exactly.

Wage slave advice

Your early 20s you should be taking risks and experimenting.

Nice boring life you fucking loser.

>>1472843
Until the market crashes and u gotta be a door greater at walmart.

Jesus anon.

Best diversify.

And i dont mean in stocks i mean in precious metals, oil, real estate, etc.

>>1471381
This is bull shit op.

Sure if you make alot in the first place that might work. Its not hard to not spend money on stupid shit.

But no one does that.

I don't by shit for my self, food, bills.

That doesn't do me any good with how much living costs are. I wasn't born with a silver spoon in my mouth.

And me sacrificing small amounts of luxury isn't going to help that much when no matter what bills take over.

You do not realize how life really works.

Investing is a good way to secure your savings if you're smart.

Ain't nobody trying to be wolf of wall street either. That's a god damn movie. Same with the face book movie. That's not how it happened , what a load of garbage. Go fuck yourself. This world is shit and your shit

>>1471381
>you aren't going to hit the lottery

don't usually do the lotto but I'm doing it tonight just to prove you wrong.

You always read about lotto winners buying a ticket for stupid reasons. It's my turn now boyos. Next post will be from my yacht.

>>1472971
make it from your yak instead

>>1471381
C.U.C.K F.O.R. L.I.F.E

>>1472937
C.U.C.K F.O.R. L.I.F.E
forgot to tag you as well

>>1471381
OP here. I take it by all of the crypto dreamers that made a few grand one time getting mad that I've struck a nerve.

My point isn't that you shouldn't invest. My point isn't that you should sit on a pile of cash your whole life. My point is that first, you need savings to invest. You need a job so you can learn how to run a business. How are you going to invest with no money and no knowledge? You can't. You'll lose every time.

I see so many posts on this board about "I have $1,000, what coin do I invest in?" No. you don't. You stick that money in your piggy bank for a rainy day. Then when you want to make a big boy move, it's there.

I've had amazing independence in my life. Why? Because I bust my ass, save my money for when I can put it to use. This year I quit my job because I was tired of it. This isn't the first time either. I have enough savings to last me years without working. This is a level of independence that I cherish and you should too. Having a big cushion will let you make a jump, take a chance, and live your life the way you want to.

>>1471381
The average wagecuck couldn't save more than 5k per year.

Saving is for rich people.

>>1471381
When saving money, keep less than 30% of it in fiat. Fiat will die in our lifetime. But property, bullion, stock, BTC for REAL security in times of an economic collapse.

When the US dollar is worth nothing, your house will still have value.

Don't be like little Fraulen Gretel here, her parents "saved" their money and she went hungry and died. Don't be like Gretel's parents.

>>1472458
So, if you're stuck in a situation where you have literally ZERO options to increase your income (which is always will be false, but i'll entertain the idea).

So you are stuck at the same income your entire life, "how" do you save, you ask? If you can't change your income, what CAN you change as a consumer? Your spending? ding ding ding

Just cut your spending you mongoloid, instead of shitposting about how poor and stupid you are on this mongolian businessman webblog, go budget properly and cut costs as much as possible, then allocate those saved fund to SAVINGS, not the newest pair of Jordans you nigger.

>>1473149
t. literally a cambodian fisherman

>>1473105
$4.9k is a good starting point though

>>1473137
>BTC for REAL security

>>1473181
BTC is proof of work, there is also a finite amount of it.

You'd be a serious retard to not think that it won't retain value for a long time. It's quite literally digital gold.

>>1473212
im curious
can you make jewelry tools or weapons with digital gold?

>>1473212
Does this look stable to you??

>>1472807
>When will nocoiners learn?
I'm trying to learn anon.
I swear.
Any other resources than just the aluna crypto guide you can share?

>>1472907
What do you do?

>>1472907

Actual Work.

Make $14.40 an hour 50 hours a week shitposting on 4chan and chilling out listening to streaming Internet radio.

Have side job washing dishes for $9 an hour with zero chill and asshole sous chefs who regard a phoneward glance as the Act of Ultimate Betrayal.

...actual work.

>>1473224
instability due to being a pioneer in digital currency, it will stabilize completely once it hits the soft cap of minted coins in 2030

>>1473218
>gold
>one of the softest, most malleable metals known to mankind
>weapons

wew there lad

besides being pretty and being a conductor, gold has no real use

>>1473258
>it will stabilize completely once it hits the soft cap of minted coins in 2030

This shows you really have no idea what you're talking about. No currency "stabilizes completely", ever.

>gold has no real use

lol you don't actually believe that, do you? There is gold in whatever device you're shitposting from right now.

I save my money because I'm scared as shit of losing it to something stupid.

And I know my money should be moving to assets or shit like that, I just dont know what to do.

>>1473267
it will stabilize relative to its history and past performance, stop projecting


>lol you don't actually believe that, do you? There is gold in whatever device you're shitposting from right now.

I clearly said it has a use as a conductor here >>1473258

What I'm more concerned with is that you think gold is useful as a weapon

you're pretty pathetic by being so inflammatory and projecting this hard over such a petty conversation

>>1473267
>>1473258
you're not arguing with me, you're arguing with a six thousand year old bartering culture.

http://onlygold.com/Info/History-Of-Gold.asp

Well this thread ended it, I will literally never visit this board again. OP makes the most realistic post about becoming FI and looking through the replies I now know that BIZ is a bunch of fucking loser retards.

>If you do not know how to perform a compounding forumula, learn it
>If you do not understand what "savings rate" is look it up

Fuck around with those two concepts and you might stumble upon the fact that an average wage earner can indeed retire very early

I am going to retire in the next 5 years with roughly 3 times what my expenses are

>mfw the government prints more money and destroys a lifetime of savings overnight by inflation

>>1473289
saving your worth in fiat is one of the worst things you can possibly do

>>1473278
>What I'm more concerned with is that you think gold is useful as a weapon

>never played Golden Eye

>>1473293
WTF are you talking about autist, who said anything about "fiat"

You put your money in a low cost index fund.. just dump your money in

>>1473281
gold has no real value in a post-modern society

>>1473289

My thoughts exactly... I was thinking of updating this for /biz/ using OP and some of the reactions.

>>1473299

Better size... hopefully

>>1473295
>damage control
>the post

kill yourself britcuck, you'll be the first to die when the government fails and your entire life's work is nothing.

you'll be sitting there, with nothing to your name except the clothes on your body

>a sand-raider is about to blow your brains out
>"b-but muhh independence..."

>>1473303
worse size

>>1473296
>low cost index fund

sand raiders don't care about your shares

>>1472708
are you a joke?

>>1473310
Sounds like you should put your money into MREs and bullets, forget about shitcoins.

>>1473310
Funny joke kiddo, I make more in dividends then you do wasting 8 hours a day working at your shitty ass job

>>1473309

3rd time...

>>1471414

[[[[[[REALITY CHECK]]]]]]

THE VAST VAST VAST MAJORITY OF PEOPLE WON'T HAVE A MILLION BY 60

THE VAST VAST VAST MAJORITY OF PEOPLE ON THIS BOARD WON'T HAVE A MILLION BY 60

ALMOST EVERY FUCKER IN THIS THREAD WON'T HAVE A FUCKING MILLION BY 60

WELCOME TO STATISTICS AND THE FACT THAT YOU ARE THE FINANCIAL FUCKING POND LIFE

i had money once

>>1473289
>I am going to retire in the next 5 years with roughly 3 times what my expenses are
>3x expenses -> 33%+ ROI required
You're going to be earning over 33% on your investments? Or was that a typo?

Other than that, yeah. Not a difficult concept; build up ~25x your yearly expenses in an index fund and then you're financially independent.

kek @ all these defeatist consumer whores ITT

>>1472847
im saying what a mere million gets you it doesnt stop there
also what the fuck could you possibly want, some shitty mcmansion?
decadent consumerism is gross

>>1472920
well yes obviously
the terrible part is the majority of a normies net worth is tied up into theit first residence

>>1472924
if the market crashes and stays crashed long enough for you to exhaust that money, no asset class on the planet will save you, and it will all be taken by roving bands of armed, mechanized mauraders

>>1472903
full chinese ice-cream wagon swag

so what should I do then OP

I'm going to graduate highschool late (18 year old fuck up life) and I have a payday for 400~ dollars on friday(UTT). What should I do with this 400? Just sit on it for years and years and years, or spend my youth experimenting and learning how to invest?

Theres an old saying from one of my favourite artists:
"If a hater tells you money aint everythang, he don't want you to get none"

so fokaff with your lackofadvice-advice

>>1471381
This thread is sad.
>OH SAVE YOUR MONEY
Dude your precious paper is losing value all the damn time. All this whining is what broke people say who are too afraid to put their ass on the line and start a damn business. I don't care if you have to start a window cleaning or damn landscape company pulling weeds and trimming shrubs. You grind and grind and grind then begin to scale. You'll learn you need to work ON your business, not in it. Before long you'll have guys doing the work for you, you just quote, collect, and guide. Holy hell am i gifted or something?

>>1474664
businesses fail. competition. costs. legal, scams
bad customers yada yada
etc.

markets fail

etc just give up
if ur not already rich from luck ur not going to be.
putting urself on the line is just gonna cause u more stress.

>>1473289
>>If you do not know how to perform a compounding forumula, learn it
>>If you do not understand what "savings rate" is look it up
>Fuck around with those two concepts and you might stumble upon the fact that an average wage earner can indeed retire very early

In the past perhaps. But we live in the age of Negative Interest Rate Policies (NIRP) that have devastated retirement plans based on compounding interest.

>>1474664
>am i gifted or something?
yeah.
Look at this board, supposedly about business but so scared of business they talk just like the 97% of plebs that won't ever run a successful biz.

it's a bit depressing, but if it helps I know you're on the level. I've done exactly what you describe.

I'm well aware that almost all businesses fail over time, but I also know that almost all millionaires are business owners.

>>1474702
>i won the lottery
>if you haven't you are scum

>>1474674
>Taking advise from someone who's given up
What's wrong with your head boy

>>1474702
Much respect anon. Keep up the hustle and don't forget, it's mostly /b/tards

But how do I monetise it?

>>1474732
i've tried a bunch of stuff.
and seen a lot of ppl who don't really try succeed.

its all luck and connections and ass kissing and compromise of integrity.
its almost 0 hard work or skill . its actually the opposite.

but hey , u wanna bust ur ass and be the butt of the joke for the trust fund lottery winners be my guest , but it aint me.

>>1474183
I meant my 4 percent rule will be generating 3 times what my annual expenses are. I am cautiouso I wanted a big safety margin before retiring. Lol I will be sitting on a beach fucking high end escorts in my young years why the faggot suck each others dicks and talk about crypto coins

>just be yourself!

>>1471414

And what's the problem with that?

>>1471381
So you're essentially willing to trade 5 days a week for your whole fucking life, for financial independence in the last 10 years of your life.

That's depressing as fuck desu. I have more respect for someone that just goes on welfare.

>>1475004
>the last 10 years of your life
I'm sorry you life in a shithole country with such a low life expectancy. I guess on the plus side, you'll probably die or disease or crime before any of this matters to you.

For those of us in the U.S. and U.K., retiring at 60 means more than 20 years of retirement on average (longer for women) and even more years for those of us who can afford the best healthcare.

I'll say a prayer for your dead, rotting corpse as I'm enjoying my decades of retirement, Pajeet.

>>1475008
Ok Ok, 10 years, 20 years. Keep your pants on.

Statistics show the vast majority of self-made millionaires are entrepreneurs or some of them in high paying careers like investment banking. Very few of them are people that earn $60k per year and save diligently.

>>1475013
Look faggot, you don't get to shitpost with made up numbers, get #reft and made to look foolish, and then suddenly try to be a grownup and have an adult discussion. You're a shitposter and nothing more.

Biz is my favorite satire channel

>>1472430
>be me
>homeless at 18
>end up getting into school at 24
>graduating cs this year with 4.0 from shit state school
>only 40k in debt
>starting salary of accepted offer is 110k
>starting salary of job nearby is 70k but rent is 500 a month here
>will literally pay off loans after first year of school
>be a millionaire soon
Muh privilege

>>1475049
This. Poverty and struggle are usually the foundation for great wealth when excluding inheritance.

The only reason I do everything I can to make as much money as possible is because I grew up poor. Loosing my house, ending up renting, and living like shit. Pay check to pay check. It showed me the value of money and gave me the incentive to earn it.

Hell, most billionaires grew up poor. George soros was an English immigrant who was poor as shit. Now he's one of the top 30 richest people in the world.

>>1475090
Best known as the owner of my pawn shop, Rick Harrison has challenged and changed the way tens of millions of people around the world think about what comes through that door. He is an entrepreneur, educator, and investor who believes the world needs more entrepreneurs. With perspectives on Big Hoss and investing that often contradict conventional wisdom, Rick has earned an international reputation for straight talk, a story, and a price and has become a passionate and outspoken advocate for 21 years.

>>1475090
>George soros was an English immigrant who was poor as shit
he's an englishman in new york wo hooooooooooooooooo

>>1475093
Wew lad.

>>1475103
Best known as the author of Rich Dad Poor Dad, Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator, and investor who believes the world needs more entrepreneurs.With perspectives on money and investing that often contradict conventional wisdom, Robert has earned an international reputation for straight talk, irreverence, and courage and has become a passionate and outspoken advocate for financial education.

>>1475098
His dad died shortly after they moved to NYC and him and his mother fell into poverty.

Maybe do some research before you posted retarded shit.

>>1475105
do u even listen to sting faggotron?

>>1471838
There's a lot of truth in this. The very fact of eschewing material things also allows you to do much more. I've just come home from a three months trip to the Philippines, Georgia, Armenia and the US. How did I afford that, being a student with no particular income? Why, a part-time job during the semesters gives me the leg up I need. Since I'm not materialistic I actually spend very little money, and still gain much value from it.

>>1471854
Ayyy

Money is freedom. Money is power. Money is the vehicle that allows me to tell my employer to fuck off if I'm so inclined.

Using money primarily as a means to consume goods in excess is how the Western middle- and lower classes are transforming themselves into a class of indentured servants. They have NO financial reserves to back them up!

>>1475090
>>1475098

Guys, Soros is an Hungarian merchant.

>>1472493
>Yeah but how does someone become a millionaire by only saving their money?
you dont, unless you have a super high paying job which means you already come from a wealthy family, also you will be too old to enjoy it anyway.

>>1473095
>I've had amazing independence in my life.
>I bust my ass,
pick one

>>1472390
You're going to make it, anon

Some solid advice I can give, is read the works of Robert Kiyosaki. The man is a financial genius, and has written such works as Rich Dad Poor Dad.

Also, a free 'hint' I can tell you, is invest in Kiyosakicoin and wait a few days/weeks. It's pretty obscure now, but some have tipped it to be the next bitcoin, and revolutionize cryto currency, in the same way that Robert Kiyosaki has revolutionized the financial industry.

>>1475191
Can have both, numbnut.

>>1475272
>Also, a free 'hint' I can tell you, is invest in Kiyosakicoin and wait a few days/weeks. It's pretty obscure now, but some have tipped it to be the next bitcoin, and revolutionize cryto currency, in the same way that Robert Kiyosaki has revolutionized the financial industry.

Eat shit and die, you filthy shill

>>1474874
Ah, gotcha. I'm gonna be doing the same, probably settle for 2x annual expenses covered but we'll see. Are you a business owner or just saving money from a regular job?

>>1475272
Hi Robert

>>1476130
Nice, two times is probably plenty. I grew up in a poor family with a lot of siblings so I get nervous about leaving without a massive safety net.

I work for a company, I got hired by a class 1 railroad as a conductor at age 22 with no college. I made 88k year my first year in the midwest (where apartments are like 500 bucks a mo kek) now I make around 100 and have been living off no joke about 14k a year. All the money goes into low cost index funds and has been growing fast! I can not believe how easy financial independence is

>>1476715
A friend of mine is in a similar financial situation but with engineering. Similar starting pay, similar yearly expenses. The HR guy was baffled when he set up his 401k to whatever the maximum contribution was, I think 50%. Assuming the market doesn't take a great depression level dump in the next few years, he should be financially independent by about age 27. Free to pursue his hobbies, free to travel, free to do exactly and only what he wants to do.

I just... I guess I don't understand why other people don't think that's worth more than driving a financed BMW and always having the latest bullshit iPhone, while working full time into their 70s.

Like you said earlier in the thread, this board is complete shit filled with a bunch of defeatist losers. The number of people saying
>hurr sweet now I'll have a million when I'm 60 and too old to enjoy it
literally just don't understand how compound interest works.

What do you want to do once you're FI? Sounds like you're only a few years away.

>>1472401
>Millionaire by 50 being any better
What

oh and

>>1476715
>I can not believe how easy financial independence is
Yeah, most people actually don't believe you when you tell them. "That's bullshit", "investing is for rich people", "you'll get raked over the coals by taxes/hidden fees/market downturns/etc". Same stupid defeatist attitude plastered all over this thread.

1) Spend less and earn more
2) Invest the difference in Vanguard's S&P500 index or total market fund
3) Once you have ~25x your yearly expenses invested, congratulations, your dividends and capital gains can cover your expenses
4) Stop working and do whatever you want

I wish the (now pretty large) number of people I've told about this would believe me. My main goal right now is to get it done and then show them. If I can show them direct proof that it works and they still won't listen, then I'll give up. On them, that is, then do whatever the fuck I want all the time.

KEK FOR LIFE
IM A KEK FOR LIFE
IM A KEK FOR LIFE
IM A KEK FOR LIFE
KEK FOR LIFE

>>1471381
This is loser talk, you're not going to clip coupons to a net worth of $10 million

Only way is entrepreneurship and prudent investing

>>1476715

OP here.

This is what I'm talking about. Good for you man. You don't need to waste your time trying to trade ETH to be successful.

>get a job

enjoy being a wage slave, you wont never make it while working for someone

>>1477499

/biz/: doing whatever it takes to make that money, except working.

in before
> muh entrepreneurship
> muh Wolf of Wall Street

>>1477499
>thinks he can become rich with no experience and no investment capital

Let me know how that goes for you.

You know, it really is funny. There are so many calm, realistic posts from people who have worked hard, invested wisely and now are on their way to becoming very well off and happy. On the other hand, the quality of posting from people bashing "wage cucks" and talking about "entrepreneurship" is usually so unbelievably shit-tier.

It is soooo obvious that you guys are lying to yourselves, trying to live some fantasy on an online Canadian maple syrup distillation board. Everyone who claims to be rich, self-made, living on "passive income" never gives any details or even writes in complete sentences. Enjoy your fantasy land. You're the kind of people who become creepy old men, annoying the teenagers at work, talking about how you're going to make it one day.

>>1477504
>implying i said not working

try having your own business, or many small ones

>>1477520
i never claim you will not work, nor will live on passive income. the truth is that unless you have a phd or are skilled in a very specific trade your wages wont grow as fast as inflation, you will just get poorer in the long run. 'getting a job' as a plan to get rich is the worst advice you can give since you lose a lot of opportunities, and you also dont feel the pressure of not having a constant income

>>1477546
>wont grow as fast as inflation
Really... do you even know how low inflation is right now?

>>1474994

>>1477546

We're in the age of the Gig Economy. Everyone has a side hustle or five.

OP is right.

>>1472483
What kind of job wouldn't earn higher wages with more experience? And why would you not be making moves to get as high up as you can go or make moves to start your own relate to operation ?

>>1472579
How much did you put up front to get the property? /is their a standard minimum? Or would it be the exact same as if you intended to live in it? I imagine different deals could be made if the loan j story till is aware you intend to rent it out

>>1472795
>not aspiring to improve/ not trying to be more successful
If you take out that which is me 2nd part and replace hermit with minimal lifestyle then you are on the right track

>>1471935
I recognize that wallpaper in that room.

>>1477736
It's a valid criticism and that's why I used an average.

in reality an 18 year old will make far less than average and a 50 year old should make far more.

but the average doesn't change.

though if you can't do that sort of simple calculation in your head you're never going to be rich anyways.
too stupid.
sorry.

>>1472483
No, assuming 3% compounding interest that's 37 years. And you would have to learn absolutely nothing during those 37 years, apply to 0 jobs and ask for 0 raises

>>1478991
Case in point, yet another one making up arbitrary numbers to bash the wagecucks...

If I started out of college making $50k and only got raises from there, what would my average be now you dummy?

Keep dreaming.

>>1471822
Because theres literally no middle ground to this statement..

>>1471968
nice if true

>>1473095
Right on anon. I had a buddy do this. Was so fuck jealous. He worked his ass off in school and saved. Then after high school like 10 of us rented a duplex and partied like kings. His ass quit his job and went 3 years without working or worrying about shit.

The only problem for me is the impending job problem.

I say why not invest most of that savings and live like a NEET forever. Its why i have 3 jobs and as of 5pm today at 30 years old i am taking my first ever vacation day.

>>1473137
Amen anon. Gods work. You are doing it.

Are u a wagecuck like me still or have you freed yourself from slavery?

>>1472147
Your annual income will be $12 lower than someone who didn't do that

>>1472828
dude I live off of a couple hundred a month

>>1473227
I run 2 rock quarries, run a hoe for a buddy difging ponds on the side, edit vidya, dickfarm, shitpost on 4chins etc...

Currently planning out an auto reloader. Got about 300 pounds of lead i'm casting into 9mm bullets, powder coating them, and selling them.

Pretty mich anything i can do to pay off my debt and spend ~15k on investment and real estate seminars (including travel and fun expenses) with the Richdad company.


NB4 scamalert, muh pockets etc...

If i am debt free my wife said i can blow our money on wtf ever scheme i want to invest in. She also wants to take classes.

Idgaf

I want handholding and i will pay for it. I also want access to their resources.

>>1473238
I dont get it?

>>1473258
Counterbalance on my pumpjack. Mor efficient than steel cause smaller weight ;)

>>1473276
Im the same way anon. I highly suggest studying personal finance. Then invewt small amounts. Shit u can afford to lose.

See you at the top friend.

>>1473289
Please ekaborate before u go? I understand and agree with most of this. I am a wagecuck and working on my 2nd company and 3rd house.


Plaaaase. Haaaalp....

>>1473296
ROFLMAO! IF U AMERICAN ALL MONEY IS FIAT U STUPID FUCKING INEDXKEK.

#DUMPINGYOURMONEYINTHETRASH

>>1480082
>invewt
>>1480089
>ekaborate
>>1480077
>Mor

are you tired, dear?

>>1473320
Until the market crashes.

Cuck

>>1473988
Ill have a mill or more by 35...

>>1474358
Keked.

Mad max is real life.

I already have 2 cars near bullet proof and 1 has a turret.

I diversify accross litterally all asset classes?

>>1474674
Says the broke NEET.

fuckoff faggot.

Mfw i sold my successfull business and am starting another...

>>1474677
So make your retirement plan investing and cancel your 401k like i did?

>>1473988
by the time i hit 60 inflation will be so out of control a fucking gram of weed will cost $1,000.

the fuck you on about buddy? $1,000,000 is what you will be paying for a used car.

maybe not that much but it'll be pretty normal for people to have $1,000,000.

>>1475272
i see Robert has been all over 4chan shilling his book again these past few days.

Alright Robert, let us know when you are done shilling then we will allow Tai lopez to come back around and we will give him a chance to shill for a little

>>1475049
And then you woke up from the dream u were having while sleeping in your parents basement.

>>1475272
Lol, yall keep making jokes. I will do a youtube vid with proof after i take his classes. I will even reference this thread. Stay tuned.

>>1476715
Index funds...


Get out.


Run...

>>1477312
Show me right now and i will laugh in your fucking face.

Mindlessly dumping money into index funds isnt investing

Its fucking gambling
Dafuq u gonna do when the market shits out and u lose it all.

>>1479268
>yet another one making up arbitrary numbers to bash the wagecucks...
I took the average wage in the US and added 30%.

if you think making 30% more than average is "bashing" then you're a moron.

>If I started out of college making $50k and only got raises from there, what would my average be now you dummy?
then you wouldn't be average.

not that it's going to ever happen, this is third grade math you're failing to understand. If you can't pass the third grade then you're going to do poorly in college.

>>1480093
Kek, spellcheck died? Fatthumbs a shitpostin'!

i dont know about all of you but i invest my money, the money i get from my investments i reinvest. I also go to work. but whats the point of saving money in a savings account if it doesn't give a good return?
Invest to get an income, don't invest just to get your principle to grow.

>>1471968

>day trading
>gambling
>speculating

lol get out you shitter