/biz/ - Business & Finance

>>16616140
>I paid off all my debt, bought a new car, and travelled the world for almost 18 months.
You're still a faggot though

>>16616140
Sounds like an untrue

>>16616140
>travelled the world for almost 18 months.
holy fuck, kys retard

kill yourself

>>16616175
I'm 31 years old now. It was the best decision I've ever made.

>>16616204
>i LOVE to travel!!

>>16616204
> hahaha I LOVE to travel!! I love to meet new people and go to new places and post everything on instagram, it's so rewarding and funny, I went to random places to find my self, I will never forget that joyful experience ;) ;) ;) ;).
EVERYONE should travel it's so so rewardin! =D =D =D xD yay yay travelling. It really doesn't matter if you have 0 cash for your future, you should SPEND everything RIGHT NOW and travel, because YOLO right? who cares about tomorrow when you have today! EVerything will sort itself out! no need to worry just travel ;) ;) ;)

>>16616229
>>16616249
I mean, I do love traveling and my instagram is pretty awesome because of all the traveling I did.

>>16616175
And>>16616178
Have the right idea, opie. Once you an hero, you'll never have to work again. If you can blow almost half a million dollars in 18 months, your nigger tier time preference ensures that you wouldn't make it if you hit the Powerball jackpot. Jump off a building already.

>>16616140
Honestly dude, I’m in a similar boat. Didn’t make as much but didn’t have debt nor did I spend money traveling. I’m also like a decade younger... but now I’m at decent money for my age ~100k and not totally sure how to mobilize it living in fear of it dwindling away.

>>16616140
Another day, another LARP

>>16616140
u seem like you felt like u were running out of time....do u have cancer or something? this i what people do when they only have a small amount of time left. if you have no excuse for your lack of self control then you squandered the gift you were given. good job OP.

>>16616140
You shouldn't have spent your money like a fucking retard, back to the wage world

>>16616229
>>16616249
T. Never left his parents basement

>>16616249
fucking hell, who hurt you anon
after the pump this summer i spent some of my gains on a 3 week vacation and it was the best 3 weeks of my life
you'd have to be an obnoxious piece of shit to not meet nice people when traveling

>>16616229
>>16616249

lol this is why I like this board.

>>16616256

This is right you fucked up majorly.
Going from 50k ---> 500k aka getting 10x return is super rare and lucky.

Chances are you'll never be this lucky again.

With only 500k you hadn't earned the ability to never work again. You need closer to 2 Milli for that.

You can still make it. you're only 30. It'll probably take you 10 years of hard work, saving money, investing intelligently, and starting a side hustle. If you do that odds are you'll be well enough off that you'll never have to worry about money for the rest of your life... Sounds harsh, but why should you be entitled to live like the top 1% without putting in the work, or developing the skills that top 1% wealthy people have? Sure luck is a factor, but you've shown how easy it so to blow through good luck... You should have worked hard through your 20's, at which point you could be set for life at 30.

Or you could just kys

>>16616255
great. when you become a barista, maybe the ephemeral 1/10th of a second memory of Kuala Lumpur will sustain you thru your next 42 years of wage slavery.

>>16616140
Catch a small supply exchange coin early and ride it
https://www.exnce.com/personal/market/XNC-ETH

>>16616256
>>16616271
Not sure why spending that amount of money is so shocking to you two.

430k turned into about 300k after taxes. Student loans (I have a masters) was about 115k, leaving 185k left. New EV car was 50k, so 135k left.

Buying random shit I needed like furniture, some art for my condo (I own a condo already, which is why I didn't use the money as a downpayment for a house), appliances, etc. Which was like 15k.

I spent only around 60k traveling for 18 months... That's pretty fucking good.

>>16616302
>You need closer to 2 Milli for that.
i think its more then that desu. Have to account for bad stuff that just happens. sickness etc etc

>>16616284
exactly. Traveling with almost no financial or time restrictions when you're younger (I know 30-31 isn't young but it's the last bastion of being young) is an incredible experience. Traveling with your old is stupid, do it when you have the time and energy

>>16616341
>New EV car was 50k
ok, this has to be bait. Real people don't pay huge premiums because "muh climate change" social signaling bullshit.
you coulda bought a quality used-car for 20k....like BMW 3-series.

>>16616361
Model 3 is fucking sick dude. The SR+ is like 50k. 46k after reabtes

>>16616341
Sure, and maybe those Jordans will become collector's items and you can buy your moms a house. Nigger.

>>16616358

Yeah traveling for 1-3 weeks isn't bad. Visit new places/try new things/have some fun. Maybe 10k a year tops (if you haven't made if financially). Totally doable...

OP is talking about blowing almost 300k traveling for 18 months.

>>16616390
I know you're just trolling, but I already owned a condo. My parents paid for half and I paid off the other half 6 years after graduating with my MS. I'm not some basement dwelling NEET, I have worked pretty much my whole life including in high school.

Yes, I quit my job to travel the world, but wouldn't you if you suddenly came across 300k in your bank account post taxes? It was the greatest decision of my life so far, met so many amazing people, had so many memorable flings with beautiful girls. It was great.

I really, really don't want to work a normal job again.

>>16616422

>>16616422
>I really, really don't want to work a normal job again.
why are you pondering this just now? You know it's over, prepare for wagecucking

Real estate, multifamily rentals. Buy them rough, do some reasonable budget fix ups to increase value, 1041 out and rinse & repeat

I know people literally 3 points away from being legally retarded who live a very comfortable life solely off income from rental properties.

Yes there's risk, but if you do your research you have a high probability of being fine

>>16616414

***Correction 60k.

ok not mind-blowingly stupid, but still, you've put yourself behind big time.

By not working for those 18 months, and by spending 60k you're probably 5 or more years financially behind someone who just worked for 18 months and took a reasonable little vacation sometime in the middle

>>16616448
can someone tell me why is this incel forever poor faggot is lecturing me on financial prowess when I already have a higher net worth than him and his children will ever have combine?

>>16616471
Because you stupidly destroyed your net worth while showing a level of financial planning worthy of a child.

>>16616140
you're a retard. you made it and lost it. you dont deserve to make it again. that was your once in a lifetime chance and you blew all the cash. unbelievable. if you played your cards right, you could have still traveled while saving

>>16616140
>I managed to cash out about 430k throughout my journey.
how the fuck did you blow almost half a mill on debt, a car and travel? youre an absolute brainlet get back to work wagie or just kys

>>16616341
>Student loans (I have a masters) was about 115k
retard. didnt need to pay this all at once.

> New EV car was 50k
stuper retard.

>>16616375
>Model 3 is fucking sick dude.
yeah you're low IQ or low time-preference. sucks to be you.

>>16616507
>stuper
super

>>16616471
Because you're a faggot and your posts reek of Reddit tier education

>>16616477
did you miss the part where I already own a home outright which is something neither you nor the person I you'd will ever accomplish?

>>16616341
its the amount of time u spent it in and the amount u spent relative to what u have. no thats not good, thats disgusting. i know this is larp but youre arguments still suck.

>>16616516
I'm worth many times more than your ATH moron. Enjoy your wageslavery - all solely due to your stupidity.

>>16616516
you could have been a millionaire or close right now.

>>16616507
Sure, but I enjoy the peace of mind of being completely debt free. That is very valuable to me.

>low time preference
I doubt you even know what that means.

>>16616527
>I-Im richer t-than y-you!!

No you're not stfu

>>16616543
cry moar poorshit

>>16616531
im sorry, high time preference. you squandered away the chance to be free for a lifetime for 18 months of fun. and a car. and paying back your 6 figure loan in one lump sum. you could have set up a payment plan which would have freed up the rest of your capital to work for you. You had financial freedom at the palm of your hand and you blew it. now you're coming back and asking

>I don't want to work again, please tell me what to do so I can never work again.
fuck out of here. you dont deserve another chance. That 430k was your once in a lifetime opportunity and you blew it like a teenager.

god, jesus, buddah, the omnissiah, please, PLEASE, do not let me become like OP, I beg of you

>>16616531
if had waited and played it smart for a couple years, you'd be traveling the world right now as a millionaire or on your way to

OP cashed out at least

>>16616140
>I paid off all my debt, bought a new car, and travelled the world for almost 18 months.
God this literal faggot almost made it while i'm losing money since 2017

>>16616553
lol. I mean I don't think I know a lot about finance, but I know a shit load more than you.

Walk me through your plan of turning 300k into millions? Let me save you some time.

Cap rate, for things with safe to reasonable risk, is usually between 3-6 percent. anything over 7 percent is considered very good and usually not achievable year after year.

Let's say I took 50k out to live and put 250k to "work for me". How long would it take before that turned into a million? I'd be almost 50 years old, assuming nothing disrupted my profit generating, and sometimes you lose money if you invest in the wrong companies as well. So in my eyes, spending a measily 60k to travel the world for 18 months was an amazing investment.

The very fact that you don't understand that 430k is only 300k after taxes means you're a retard. How about shutting up and listening to the adults talk for a change?

>>16616140
890k ATH.. that's around 20 leveraged condos... OP is an idiot

>>16616568
Or, I would have held and held like you probably did and my 430k would be like 60k now, you buttmad retarded faggot.

>>16616586
>How about shutting up and listening to the adults talk for a change?
You'd need to shut up and listen you subhuman

>>16616591
yeah in bumfuck flyover zones, that's 2.5 parking spots in SF, where I live.

>>16616602
so easy to find nice 2 bed 2 baths for 50k downpayment in emerging cities

I keep to /biz/ for threads exactly like this. To remind me of ways I can be retarded with my money.

>>16616610
you'll never have money, so don't worry about it lol

>>16616615
enjoy your literally self imposed wage slavery

>>16616586
60k for traveling and paying off a 115k student loan at once. you must have some advantage in life because its hard to believe you had the competence to even make that money in the first place.

>>16616620
anyone who posts cartoon frog pics is actually a retard. grow up

>>16616140
>>16616249
Read this over and over again and stay poor OP.

OP is based and redpilled

>>16616638
>u post frog! u dum!
You have a mind of a child

>>16616640
yeah better to be a wage slave into your 60s, never having seen the world.

That way when you see the world in your 60's, you won't freak out about having wasted your life in a cubicle because you won't have the energy too :(

>>16616586
you could have figured out ways to lessen your tax burden for one and keep more of that 430k. you almost made it you stupid motherfucker. jesus. my mission in life all day everyday would have been to grow that shit. you could have gotten into real estate. shit, I would have respected you more if you lost it all gambling because at least then, you still would have had the intention to take your money to the next level. god i hope you get poor. maybe daddy would save you regardless though.

>>16616602
>lives in SF
Spotted the problem. There is no helping these people.

>>16616673
Have you ever been? One of the greatest cities in the world. I'm proud to be from SF.

>>16616696
>Have you ever been? One of the greatest cities in the world. I'm proud to be from SF.
oh god it keeps getting worse. if anything you should have downsized your expenses even more. instead you spend 15k on furniture like a damn woman. please kys

>>16616140
Did you blow 430k in EIGHTEEN MONTHS? You fucking idiot, you could have set yourself up for life. On the bright side you did better than 99.99% of "people" here.

>>16616720
Again, can one of you wall street financial genisus explain how one can turn 300k (there's this thing called "taxes") into being set for life?

Thanks

>>16616140
Jesus what were you holding that you only turned 55k into 890k during 2017 anon? Didn’t the whole market do like a x40 assuming you weren’t solely invested in BTC?

>>16616670
Don't let them hate on you for travelling though. Travelling in your twenties/thirties is 10x better than when youre 40/50 and start getting body problems and physical limitations. But why did you blow so much money on it? I dont understand how you could have spend more than say 10k/month travelling even with the plane tickets and expensive hotels. Good on you for making memories and experiences to last you a lifetime (I hope).

>>16616140
Hello /biz/ anons, I heard this was a rich neighborhood. Sorry to interrupt the thread, but Do you know for sure that you are going to Heaven if you were to die today?

Believe on the Lord Jesus Christ, and thou shalt be saved, and thy house.

Hope you have a nice day anon

>>16616732
there are ways to lesson or avoid taxes. you could have kept way more of that you moron. did you sit down with someone to help you with this? even putting that aside, fine. there are many ways to hustle and grow 300k anyway. you just didnt have either the drive, time or discipline to do it. you chose to pay off your loans in a lump sum like a RETARD, buy an expensive car you didnt need, furniture, and traveling.

>>16616140
Did you think you were rich?

>>16616732
Even if you were told, you'd play the defensive child you did multiple times in this thread. Shut the fuck up and lube up your asshole for wagecuckery till the day you die.

>>16616747
he spent more of his money on paying back over 100k student loan at once instead of via a payment plan. Then he bought a 50k car he didnt need. and he spent some on furniture. i have no idea how he managed to make the money to start with. he was either really lucky or rich parents i guess.

>>16616204
>I'm 31 years old now. It was the best decision I've ever made.
>I don't want to work again, please tell me what to do so I can never work again.

If what you wanted was to never have to work again, then it might have been the worst decision you've ever made, not the best.

>>16616745
Probably just BTC or other top coins. If you have that much money in it, it's easy to hold for a long time if you're in one of those vs. a new alt.

>>16616769
Uhh, how exactly do you "lesson" or avoid taxes on selling crypto, you enormous fucking idiot?

If you hold for less than a year it's taxed as income, if you hold for more it's capital gains at 20%. If you make a single trade, you have to hold for a year from that date to make capital gains.

If I had held for capital gains, I would have made even less than I did because of the crash.

You are an idiot, don't speak about subjects you clearly know nothing about

>>16616788
y-yes?

>spending a measily 60k to travel the world for 18 months was an amazing investment.
>50 EV car

so you got 300k after taxes and spent 60k on traveling and 50k on a fucking electric car, you just blew over 1/3 of your 300k on bullshit

paying off your debt was a great move but you should have bought a car for 10k and then taken the 100k you wasted and bought a rental property for passive income, you deserve everything you have coming to you and more, go clean toilets, nigger

>>16616940
>100k
>rental property

LOL. Any property worth owning that you could get for 100k would yield negative cash flow you retard. Don't talk about things you don't understand just because you read the back of rich dad poor dad fucking loser lmao

>>16616982
lol keep coping. you will never have that much money at one time ever again. years of waging await you and you have no one to blame but yourself.

>>16616825
AAAAAAAAAAAAAAAAAHHH I'M GONNNA COOOOOOOOOOOOOOOOOOOOOMMMM AAAAHGHHHHKKKK

>>16617005
12 posts by you and still nothing of significance. Just retarded pontificating on subjects you've proven that you have zero understanding of.

>>16616140
>bought a new car
>travelled around the world for 18 months

You won't get rich doing shit like this, Good thing you paid off your debt. As for advice, Chainlink. Put at least 10k usd into it if you're not all in already. At this point just leave it in chainlink, If you don't want to leave all of it in that then just buy gold. Also move that money out of your checking into crypto but leave 1k.

>>16616982
>Any property worth owning that you could get for 100k would yield negative cash flow you retard
this is a new kind of cope.

>>16617055
?

>>16616982
nigger, you could use the 100k as a down payment on whatever price rental property you deemed would be profitable, otherwise you could have just invested it in literally anything that is better than fucking travelling and a car, kys

>>16616140
I have about $200 in crypto left and live in the US with no job

Eh I just don't care anymore

>>16616229
>>16616249
kek. this.

>>16617046
You on the other hand proven that you lack even a semblance of a functioning higher-order thinking faculty.

Enjoy your eternal destitution

should have bought dividend stocks. if you don't want to work, you can kys

>>16616204
you'll be 62 years old and realize it was the worst decision you ever made. missed out on all the compound interest.

>>16617322
So the most I could get is a 500k house with the 20% downpayment. Assuming no work needed to be done, cap rate (hopefully you know what that is) would be maybe like 3%, which would equal the mortgage.

Sure I'd be paying off the property, but it wouldn't be paying me to live for like 20 years.

>>16617428
Yeah but I'll also be 62 so who cares. Better to live well when you're young than old.

>>16616140
So you spent $430k in two years on what exactly"? How do you not have at least $100k left in your checking account?

>>16617448
I guess it depends on what travel you want to do. But you could have been easily sitting on a beach in Thailand or some other country with a low cost of living due to dividends. But, you're still in a better spot than most with what you have right now. You'll just have to get a job.

>>16617464
he had 300k after taxes. 110k on student loan. 60k on car. 60k traveling. 15k on furniture.

>>16616140
Based retard, choosing 18 months of fucking whores instead of never having to work again. Get ready for a lifetime of wagecucking, dumbfuck

>>16617472
hmmmmmm interetsing

>>16616140
Dumb fuck. You were never meant to make it

I don’t think this is larp. This is the guy that blew half a million on hookers

>>16617574

he's posted too much for it to be larp either that or he just got home from work/school

>>16616204

Dude, that's literally White Woman-tier embarrassing.

>>16616140
shit like this is why i keep reading biz and thanking myself for not being a retard

buying an EV before you are rich is just stupid, paying of loans in a lump sum is retarded and no comment on blowing the rest of your money on traveling
if you took that 300k as downpayment on 3 rental properties, kept working and leveraged that up to probably 6 properties you could be free from the wagecage forever, now its back to ragiewagie for the rest of your life
really hope those 5 minutes with the thai prostitute was worth it OP

>>16617954
it's called peace of mind and a sweet car, something a faggot with perpetual anxiety like yourself will never understand

>>16616140
Put your money in boring mainstream stocks. Sell your car. Move to a cheap country. Educate yourself in a field that is so enjoyable that work does not feel like work.

Hey anon,

I try to give people financial advice but they neverlisten. They never wanna give up their current quality of life

What you should be doing is a few things because you need capital:

1) sell your 50k car and buy a 5k beater

2) rent out your condo and move into an apartment that costs less than the rent you collect (now you're making money)

3) start a business with the proceeds from your car and invest the additional cash from your renting

I know you won't do it , because you don't want to live below your current quality of life

But you will get rekt at some point in the future when the cash runs out

Best of luck

>>16618037
>start a business
literally how

>>16617979
i have peace of mind in my shitty 10k ICE car coupled with my rentals that ensure i never have to work again you unbelievable retard
people are even giving you advise and you still behave like a defensive child
if you still have 55k in crypto you are lucky because we are probs gonna moon again, but judging from your reactions you are also going to blow that money on useless shit

lets put that in simpler terms, maybe the lesson will burn through your thick skull anon
come new year i am going on a 3 month long skiing trip, but unlike you i will be net making money during that time because passive income and that is why you only go travel after you make it, remember this lesson anon for after the next golden bullrun

>>16618037
>hurrr durrr sell all ur belongings and give up your US residency and move to thailand but I know u won't duuu it

no shit I won't do it. Quality of life is important. Not going to sell my fucking car and buy a 5k beater. 45k won't do shit in terms of investment return you retarded turbo faggot

>>16618075
you literally have zero rentals you lying faggot lmao

>>16618207
this is the last i am responding cause you are now just a petulant child
we had the crypto boom in 2017, how many anons here do you think made a lot of money then, yourself included you retard
this is what i have been trying to tell you, you could be me right now comfy knowing you never have to work again if you took the profits you made and invested them right rather than blow them on shit

several anons have given you proper advise now OP learn to swim or drown at this point

>>16616527
nice larp

>>16618198
> 45k won't do shit in terms of investment return you retarded turbo faggot

Your complete lack of civility, business acumen and marketable skill will surely serve you well in keeping your lifestyle, retard. Enjoy your reality check. You've earned it. I want fries with that.

>>16618254
My uncle owns over 20 million dollars worth of rental real estate. I know how real estate actually works and it's not as easy as you're claiming it is, and unless you made over 1-1.5 million after taxes, you're not taking fucking 3 months ski trips and making money off your rentals.

To me, you sound like some loser who went to a "muh rich dad muh poor dad" seminar where you scrapped together $200 bucks to attend. There you were convinced by some charismatic fraudster that you could one day become a self-sufficient land lord with zero risk or initial investment, just like the imaginary characters in his stories he used to hypnotize you with.

And now, you're trying to larp to me about being some kind of land lord. lmao nigga, please.

>>16616586
>>16616595
kek, OP triggering all these biztards who probably don't even have a passport

>>16616769
>there are ways to lesson or avoid taxes.
I also used to believe that when I was 15 years old

>>16618292
Oh yeah? Tell me what I can do with 45k. I have a heloc open right now and can pull out over 400k at a moments notice. Guess that means if you can make me 10x off 45k I could make 10x off 450k too right? Guess I'll be worth 4.5MM off your advice!!

Do you even know what a heloc is? Fucking idiot. stop playing wise man business investor you don't know shit lmao

>>16618329
So collect your 400k then. Go all in on cryptofaggery. Problem solved, Report back later.

Or just get a skill. Like non shitposters do.

>>16618359
my skill is not listening to retards like you lol

>hurrr durr sell all your shit and move to thailand and do something that doesn't feel like work!!! DURRR

everything feels like work after a while you unwise turbo faggot

>>16618383
>my skill is not listening to retards like you lol
You are still listening (poorly) but you aren't learning. Try Ritalin.

>everything feels like work after a while
Beats fapping or smoking dope. I have 5000 listings on Ebay and Amazon. I manage those in 2 hours of work every day. If i did not have that, my life would be as shit as yours is. But my life is good and getting better, while yours is about to get a lot worse.

So have you received your diagnosis yet btw?

>>16618422
You do understand that I have a graduate degree in a stem field right? And that I made enough in 6 years to pay off a condo in SF? Meaning if that if I decided to go back to work, I'd make more in one year than you'd make in 25 selling crap on ebay.

>>16618462
>I'd make more in one year...
could, would, should

Well, you are obviously autistic now. 31 posts prove it (not even being glib about it, you know it, we know it) Go get some therapy. Get off 4chan. Sort yourself out, you fucked up larping child. Good night.

>>16616229
>>16616249
Founded the npcs

>>16618483
you forgot "did" faggot

>>16616140
>"I don't want to work again, please tell me what to do so I can never work again."

anon why did you bother asking for advice if you were going to be a retard and not listen to anyone anyways?

>>16616140
>890k
>spend 18 months traveling

>>16618536
because no one is giving advice, just excerpts from the back cover of rich dad poor dad

>>16618292
I will also take fries with my order. Enjoy the ski trip. Some people just don't get it and won't take advice. They want a magic pill

Reality always catches up though

>>16618606
fries are 2 dollars extra you sure you can afford that?

stock markets are hitting ath's. dont fall for the "muh recession" or "muh precious metals" bullshit. read the charts not the news. the time to sell will be when the 54 year old divorced woman next door to you is buying shares of AAPL. thiis shit aint hard dude i make what would be considered a very good living off of trading, just learn to read sentiment. this board is gay as fuck i only come here periodically to check crypto sentiment against bitmex funding rate and for threads about my one shitcoin that im bagholding (its BAT btw no shill fuck off dyor) but for some reason i was drawn to your thread.

buy what people DONT have today so that you can ram it down their fucking throats tomorrow. thats the name of the game baby, be it real estate, crypto, stocks, etc. also fuck you for making me take the time to type this. good luck

>>16618735
you literally said the equivalent of "THAT'S VEGAS, BABY" except with more words and less wisdom.

>fuck you for making me take the time to type this

fuck you for making me read your incoherent bullshit

>>16618735
>bitmex funding rate
tell me how you read it
is it like, oh the futures are in backwardation and funding rate has been negative for 5 days straight so time to go long?

>>16618310
>My uncle owns over 20 million dollars worth of rental real estate
ah so thats where you capital came from. knew you have a rich family . probably subsidize a lot of your stupidity.

I don't wanna tell you that you fucked up, but you kinda fucked up a little, yes you had fun and cashed out well, but a large % of that cash should have been put aside for days like these, you could unironically have hundreds of ether, 50+ BTC, a huge stack of alts etc for the upcoming bull (whether it be in 1, 2, 5 or even 10 years from now).

I'm no better off as I sold a bunch and spent it frivolously also..

Just my 0.02

>>16616140
>managed to cash out about 430k
>travelled for almost 18 months
>now I only have 70k
it speaks for itself

Are you the guy with the rich uncle that did the threads like “give me good ideas I’ll pay you” then when we gave you good ideas you rolled out some shit along the lines of “lol those suck no money 4u”? That guy had a rich uncle and was an arrogant prick too. You seem like him.

>>16616140
>I started with 55k in 2017
did your uncle or parents give you the 55k capital?

>>16616302
all u need to retire is to own your own home/land, be self sufficient in as many ways as possible and have a small income to take care of negative outflow. You guys needing 2mil to retire want to buy meme houses and meme shit

>>16617428
This anon gets it.
>>16617448
Dont get meh wrong op, i see the value in traveling. But you could literally have been george soros. You would have attained jew.

>>16616982
Yikes youve wasted so much time and energy fighting absolute retards. Tell me some of the good stuff, how was the feeling of cashing a big fat 430k into your account

>>16616342
7% dividend on $2 million invested in a good portfolio is 140k a year with only a 20% capital gains tax. So after tax, you net almost 120k. If you can't have a nice life living on that while reinvesting at least 10% of it each year, then you're an idiot.

>>16617979
You are addicted to hookers now and you can't afford it. Your life will be miserable

>>16616702
>QuiT ETH

God damn you're a retard if this is true. You could have at the very least put all that money into a term desposit and STILL traveled the world, living off of the interest. You could have done that for the rest of your life, but instead you.. bought a new car, like a retard, and somehow blew it all travelling. The fuck did you do while you travelled?

At the low end you could have made something like 20k a year from interest. Off of that you could travel indefinitely, and retain your net worth. God damn you're stupid bro

>My uncle owns over 20 million dollars worth of rental real estate
>Cashed out 300k and blows it all.
>Not asking for financial advice from his uncle
>Asking for advice from /biz
Absolute biztard. Stay poor.

>>16619955
20k/year is peanuts you poor fucking faggot. kys

>>16619974
>Not asking for financial advice from his uncle
yes because he's deeply insecure about blowing his fortune over the course of a year and a half and now he has nobody to turn to except for an autistic image board which he lashes out against whenever even they try to help him

>>16616422
> just hace your parents pay for half of your condo bro!!!
> I'm such a hard worker, I've worked soooo hard my whole life pretty much..

>>16619990
Yes 20k a year isn't much, but it's enough to actually do what you want to do, which is travel the world. And I said 20k on the low end. With 800k+ you could easily be making about $50k in dividends. But I genuinely think /biz/ is too retarded to understand what any of this means and why spending your net worth is genuinely sub 90IQ tier

>>16616422
I inherited 300k, guess what I did you dumb faggot. I invested it all. I still have it to this day and it's still growing. Rather than spending it, I invested it, and I literally used the dividends to travel the world. I was in the same position as you but because I used my brain I was able to do what you did while still retaining the initial wealth. In fact, I've become richer since obtaining it, while still doing everything you did. Dumb New Rich retard, unable to do basic arithmetic, enjoy your destitution

>>16616696
> I'm proud to be a faggot!!

>>16618254
>>16617954
>>16618075

I have 30k in BTC. Am I gonna make it?

>>16620077
No.

>>16616140
OP, I work in the film biz.

This year my partner and I produced, shit and acted in our first movie that went to Rotterdam IFF, Jaipur, Marina Del Rey, and Orlando film festivals. We're doing preproduction on the next movie. Invest 10k, we'll give you 20k on net revenue + royalties, and you can be a listed producer and start a career as that. And as we keep getting bigger production deals we'll cut you in.

>>16616586
leverage a property portfolio.

get a job. get a mortgage with as little capital upfront as possible. get lodgers.
get another mortgage. get a property. rent it out.
repeat repeat repeat.

soon you have a fat cashflow. The bank will start to trust you. After a while you can quit the job because money flows to you anyway. The more houses you have, the easier things get.

>>16616760
Christianity is a honey-trap for weak souls. Have fun being lured into the torture chamber of New Jerusalem while sucking Jew cock

>>16620238
That's not what Christianity represents.
It's what the )ews have turned it into, but it use to be something more meaningful a while back.

>>16620111
give me the name of your company

>OP
Imagine spending all day in this thread

>>16620404
don't trust that faggot

>>16616255
>my Instagram is awesome
Hahaha holy shit wow this must be a troll
Fuck

>>16616140
all in bsv

>>16619955
How could he make 20k a year "on the low end" from a 300k term deposit?

>>16616586
you dummy anything above 100k can be flipped into millions but it is mainly through assets. That money could have netted you thousands a month in passive income.

>>16616602
He's not talking about a home for you to live in. Wow wagies just can't get it.

>>16616140
If you blew your first half a mill on traveling for a year you don’t deserve our help you better go ask God

>>16620111
I had a great movie plot come in a dream. Never been done before and I can’t really see how it wouldn’t be successful. Wut do

shoulda bought link lmao you’d be billionaire status within the next decade

>>16616204
>going to poorfag foreign countries to "sight see" and spend money at endless hotel lodgings meeting new ppl who have statistically high probabilities of robbing you if not killing you bc of your nationality, etc.
you are what old money calls dumb new money and there is a good reason why you are poor again. if you want to start over go all in on RSR and dont even think of selling for another 10 years. youll have more money than most fags ever dreamed of. oh and im deleting my post very soon.

Lol he really did delete the post. Interesting

>>16616140
Some ETH for staking, deflationary digital assets like RSR is a good hold too.

>>16616140


But Chainlink.

Take a look at the chart. Its positioning itself for a massive move. The ONLY crypto project with a steady increase against BTC for the past year and half.

>>16618037
I learned from this post, thanks.

>tfw actually sold 90% january 2018 and been travelling since
>still have money for 2 more years
No amount of soiwojak posting will reduce how great my life is since.
Lmaoing at retards here that have been holding their shitcoins through the 90% drop and actually believe watching charts and reading pajeets on discord all day is the patrician and fulfilling way of life.

>>16616140
Wowee a lot to unpack in this thread
>paid off all my debt
Well that wasn't a horrible move but not great either
>traveled the world for 18 months for 60k
Averaging 3.3k a month for traveling is fine, but spending that for 18 months straight was nice wise financially. Even if you enjoyed the experience, you're losing out big time via opportunity cost for that money.
>>16616255
Doing things for the 'gram is kind of sad. If you have fulfillment, why do you need outside validation?
>>16616341
>430k down to 300k
Did you even speak to a tax man or a financial adviser? You do realize you could have saved thousands of dollars with a few minutes effort, right? The U.S. tax code is 3 times longer than the worlds longest book, the entire point is that its filled with exceptions and rules to get around taxes.
>50k for a new car
Do you honestly think this was wise? If the purpose of the car was transportation, there are cheaper options. You bought a status symbol.
>15k in furnitute/art
You really couldn't furnish yourself for cheaper? Once again, sounds like a status symbol purchase
>>16616422
>I had so much sex bro
Yeah, neat. No idea why you're providing such useless information, once again you're extremely concerned with the status of having notches in your bedpost. Are you noticing a theme here?
>>16616471
>Why am I getting lectured
You literally asked for help at the start of the thread.
>Look at this poor person I'm much richer than them
Why are you even posting asking for help then?
>>16616516
>I'm a homeowner I'm better than you
Yeah your parents paid for half of it. Once again, why are you even posting here?
>>16616586
>I know so much more than you about finance
Why are you posting here? To gloat to strangers? Get a grip man.
>>16616602
>I live in SF
You choose to live somewhere with an extremely high cost of living, and think you're getting good quality of life. You can get the same quality for cheaper elsewhere.

>>16621596
Continued
But seriously though anon, why are you posting here? If you had the prowess to run a 55k stack to 870k or whatever, why are you asking for advice? If you have rich uncle, why not ask them? If you have a good paying job of good working conditions, why don't you consider working to build your bankroll and investments? Why are you flaming out people giving you the exact information you request?
>All these status symbols
Come on duder. You seem to be overly concerned with status. You brag anonymously about sleeping with beautiful women (we don't care), about having a masters degree, about being rich, about owning an expensive car, and posting on your instagram. Have you considered maybe you're not content to rent out your condo and live somewhere else for cheaper because you're so concerned with what other people think?
>>16618037
This anon spoonfed you exactly what to do. Even with your current situation of having spent the money, you can recover and live passively, but you have to live below your means and think ahead and live frugally. Instead you're concerned with status and looks and being in the most fucking expensive place in 1,000 miles to live. People are giving you good advice worth looking into, and you're convinced that you're so much better than them as to disregard it. Who gives a shit if you live in SF if you're a lonely prick because you're insufferable to be around? Who cares if you live on 2k a month in a "flyover" place if you're surrounded by good m8s and don't have to work? Sort out your priorities man, I'm honestly embarrassed for you.

>>16618735
>Buy high, sell low.

You buy when there's blood on the streets. Aside from a few decent picks, like Tesla and some dividend stocks, most stocks are garbage propped up by buybacks and financial chicanery and not real fundamentals right now. Most people will lose money during the next downturn.

>>16620404
Bullish Productions

>>16620425
Based

>>16621089
Send an email

>>16621596
>>16621645
Respect for this amount of effort

>>16616140
a fool and his money are soon to part

>>16616140
How the fck you spend 430k in two year.

Where are you holding it I don’t trust this shitty exchange

>>16622038
Yea that anon is a good guy because that’s too much effort for this guy

>>16616140
why is this kid looking at me?

>>16622038
>>16622275
I'm an Oregonian, and we are getting flooded nonstop with Californians like OP. Portland is turning into SF2.0 because of people exactly like him. Do everyone a favor and reality check status seekers to improve quality of life for everyone.

>>16622373
You know what you're right.

>>16616140
>>16616825
pretty much this. you don't want to work again, but you take a giant pile of money and fritter it away. You better hope you can KEEP working anon

>>16618198
Ho Lee Fuk, are you really this stupid? Too full of yourself to live frugal.

>>16616249
while forever rotting in your basement is a better alternative? lmao

>>16616471
all signs point toward you being an entitled an insufferable fag

>>16616516
>bragging about being rich
>"guys I blew all my money, how to not wage slave?"

>>16617574
I dunno man, he said he's proud to be from San Francisco. That's gotta be a joke.

>>16620728
hey retard, did you miss the part where I can access 400k through a heloc at anytime? Instantly?

Give me your best advice oh wait you have none because you're a larping loser faggot.

>>16621596
lol

tell me how you can save on tax from crypto that isn;t long term cap gains and I'll fucking give you money.

Why are all you losers so insistent that I could have saved on taxes... yet not provided a single method?

>>16622685
all San Francisco homosexuals must be gassed. You just gave an great example as to why this must commence.

They are just petulant children wrecking everything they touch.

>>16622685
>Why are all you losers so insistent that I could have saved on taxes... yet not provided a single method?
there are no real methods

>>16622685
>demanding highly technical knowledge out of stranger on the internet
>assuming they will be truthful
You will never, ever escape wageslavery. Enjoy your bleeding asshole from both sitting in front of the computer in the office and from taking dicks from your superiors

>>16616140
Yikes. I won't ever consider stopping work completely until I have at least $4 million in assets.
Good job getting debt free. I did the same with my $180k student loans when I cashed out in January 2018. I've been steadily building my wealth since then.

>>16616140
I had the same amount during the peak, sold half the same way you did. But instead of wasting my gains on a car and expensive travel I waited for BTC bottom then bought in and now I'm set for life. My humble hiki lifestyle is superior and far more sustainable then your consoomer bullshit

https://twitter.com/zeroabsolutes/status/1208390740860121088

>>16616266
>but now I’m at decent money for my age ~100k and not totally sure how to mobilize it living in fear of it dwindling away

Throw three quarters into 3 select ETFs, one quarter half into gold, ahlf into peer to peer credits (like Mintos or Bondora). It ain't the perfect portfolio, but at least it is WAY better than just sitting on it.

>>16623121
I didn't demand anything you turbo faggot, I simply asked people to back up their absurd and retarded tax saving claims with a single sentence.

But the truth is you read the back cover of a financial self-help book by some "guru" and are just a giga faggot know nothing.

i love these LARP threads

>>16623810
You certainly aren't being humble. Reread this entire topic from a perspective of an outsider; some guy makes a nice sum of money, and then spends most of it and is now on a business forum of 4chan, asking how to make money again so he doesn't have to work (the goal of just about everyone here). 4chan, being 4chan, rags on him for making poor investment decisions, more specifically the LACK of making any investment decisions with his previous sum, and so he lashes back calling them all poor and flaunting his and his family's wealth but still wants people to tell him what to do make more money.

Do you not see the problem with this? Stop defending your choice to live a luxurious traveling life and acknowledge it was poor investment decision so the discussion can move forward.

>>16623917
It was absolutely not a "poor investment decision" you complete and utter turbo faggot.

Think of it like this, would you rather get sexually molested at the age of 5 or 55 years old? If you're not a retard, you'd pick 55 because if you get molested as a child that shit will traumatize you and effect your relationships for the rest of your life.

Now take that concept of "experience impacting your life from an early age being more impactful" to traveling.

Very few young people get the travel the world like I did, and do the things that I did. These experiences matured me and gave me great perspectives on the world, people, and myself.

Traveling when you're 55 is when it's not worth it anymore. You're body is deteriorating, you lack vigor, energy, etc. Just because most people don't have the luxury to travel until they're older doesn't mean it's better to save money and travel when you're older.

Instead of buying stocks with my money, and possibly losing money instead of making it, I invested in myself. If you're too much of a butt tard to understand this, then good luck buddy.

>>16616140
OP instead of being a retard you could have invested that 890k and gotten a comfy 50k in dividends for the rest of your life for sitting on your ass. I hope the 2 years was worth a lifetime of work though. I'm not even being an ass, it could have been great and I hope it was but now you got consequences.

>>16623883
Same. How does /biz/ ALWAYS take the bait?

>>16624044
You're making quite a few assumptions.

1) That I somehow knew but decided not to cash out at my ATH.

2) That you just can "live off dividends" as if there's no risk involved

3) Cashing how 890k means you get 890k, because taxes don't exist (You'd only take home 460k, approx)

in summation, you are a retard as well as a turbo faggot

>>16622675
See the problem is, based on what you have told me you are sort of in a higher end consumer trap. If you took a 6 figure sum and invested it, you wouldn't be able to make as much as if you waged, and you would have to make some cutbacks for your freedom, but you don't want to do that. So you will continue waging and all that will fly out your pocket. You are right 400k isn't shit in Cali.

>t.San Jose anon

>>16624138
Pretty much, except I don't want to work.

I want to do something with my life, but I don't want to sage slave ever again.

why would you ask for advice you don't want from a group of people you don't care for?

your smarter and richer than everyone here. why are you asking for help then?

>>16624173
Anon most of the opportunity in life is in developing markets. Is there a way to take 50k in SF and never work again? Guarantee it. Will you find it? Almost definitely not. If you go to some flyover those odds increase. SF is like trying to get in a game of Monopoly and everyone already has hotels everywhere. Orlando and Vegas are nice.

>>16616140
>I managed to cash out about 430k
kys you whiny bitch

>>16624194
>your smarter and richer than everyone here

well, I didn't know that when I made the thread. Guess the fault is on me for assuming not everyone here would be a turbo faggot

>>16624204
Where can I go? What can I do?

>>16622373
Damn that sucks. I'm in Fl right now doing networking, but I'd love to settle in the PNW. I have some family out there and unironically love the climate and geography. I'm just worried this next crash is gonna wipe out Silicon-Everything.

>>16624225
OK here is exactly where to go to make millions you just get off I-10 at exi......

Wait look how stupid that sounds. Find a good property manager, or analyst if you don't want to play flipper.

>>16624253
>asks for advice
>advice given is to go find advice

thanks faggot. Maybe I should just find a massively over inflated tech company like Uber to short.

>>16616302
>getting 10x return is super rare and lucky.


Lol this is crypto, wait long enough and everything 10x's

>>16624282
>massively over inflated tech company
Literally almost all of them

>>16624282
Ok hur durr

There is this website called google, go there a type in property manager + (city you want to setup shop in), invite them to lunch and use all you skills you gathered walking the earth to maybe set up a good working relationship. Don't get one of the pretty girls either this will basically be your enforcer. Or if you want to open a business you go to costco buy a 1000 lemons and meet with a local market analyst to find the best place for your lemonade stand guy.

>>16624094
>2) That you just can "live off dividends" as if there's no risk involved
doesn't know there's a thing literally called the "risk free rate"
>paying taxes on crypto

>>16624410
please stop posting you fucking idiot
>risk free rate
the risk free rate has absolutely nothing to do with dividends
>paying taxes on crypto
unless you are playing with lunch money, you do pay taxes on crypto

>>16624410
If you didn't pay taxes on crypto you didn't make any real money off it.

When you cash out almost 500k in 14 months the IRS will notice you turbo retard.

Also there's no such thing as risk free returns

>>16624321
>buy lemons and make lemonade

thanks faggot I'll go to walmart right now

>>16624619
>the risk free rate has absolutely nothing to do with dividends
actually can't tell if you are trolling. the risk free rate of the fed dictates fcf and lending for corps as a consequence, which in turn affects dividends. treasury notes kick back interest, stocks kick back divvies and one is higher than another. HMMMMMMMMMMMMMMM. fucking brainlet double confirmed.
>unless you are playing with lunch money, you do pay taxes on crypto
hahahahahaha
>>16624634
I'm not even going to tell you two fucktards how to cash out properly, nice try with cunninghams tho do some fucking work
>Also there's no such thing as risk free returns
https://en.wikipedia.org/wiki/Risk-free_interest_rate
>The risk-free interest rate is the rate of return of a hypothetical investment with no risk of financial loss, over a given period of time.
read a fucking book.

t. all of finance and accounting an economics

>>16625062
The risk comes from tying up your money for a predetermined amount of time you idiot. There's no such thing as a free lunch just like there's no such thing as a risk free return turbo retard

reading the back cover of rich dad poor dad doesn't make you smart

>>16625119
>just because there is "no risk of financial loss" and it's called the "risk-free rate" doesnt mean it's risk free despite what all financial professionals will tell you
thanks for the input anon you totally changed my mind

>>16625062
shut the fuck up you literal brainlet

>the risk free rate of the fed
you mean the federal funds rate

>dictates fcf and lending, which affects dividends
sure, it can affect dividends, but this has nothing to do with what we were discussing, which was your statement here >>16624410
>doesn't know there's a thing literally called the "risk free rate"
that was a response to OP here >>16624094 when he said that you make the following assumption:
>2) That you just can "live off dividends" as if there's no risk involved

in conclusion, your statement makes no fucking sense, because the funds rate has nothing to do with dividends being risk-free, because they fucking aren't

>The risk-free interest rate is the rate of return of a hypothetical investment with no risk of financial loss, over a given period of time.
Exactly, it is the THEORETICAL return of a HYPOTHETICAL investment. It does not exist in reality, and the closest proxy used in practice would be the 1 month t-bill, which sure as fuck is not enough to live off
>I'm not even going to tell you two fucktards how to cash out properly, nice try with cunninghams tho do some fucking work
There is literally only one way to cash out, and no matter what you will owe CGT on the gain. Fuck off

>t. all of finance and accounting an economics
nice try retard, you have never opened a finance book in your life
t. actual finance major

>>16625356
>gravity doesn't exist because it's just a theory
good job anon

>>16625356
>t. actual finance major
holy fuck I almost missed this gem. cute, i got dual masters in finance and account you child

>>16625537
>>16625545
and still you try to claim that OP can live off "risk-free returns"
dividends are certainly not risk-free, and even the 1 month t-bill is not 100% risk-free, because such a thing does not exist.

>>16625588
>gravity doesn't exist
thanks anon

>>16625620
I can take out almost 400k from a heloc. Tell me what to do with 400k.

Oh wait you're a faggot who doesn't understand risk, nor investing.

>>16616140
Should have bought real estate. Don't spend it all before you have passive income, you massive retard. I could conquer the world with 400k.

>>16625696
no, you literally couldn't

>>16625699
Watch me.

>>16625767
you read the back cover of rich dad poor dad again, didn't you?

>>16625649
ha, 400k isn't a lot. my main account is 400k. I'm the corporate accountant posting in /smg/.

>>16625620
>comparing one of the fundamental forces in the universe with a man-made theoretical concept

>>16625791
show me

>>16625791
so this is the type of person giving advice in smg
kek

>>16623984
> invested in myself

you swallowed a marketing line you credulous bell end

Spunking you money on frivolous shit and paying down low priority debt was not 'investment'.

You're such an obvious midwit. Your tastes, pleasures and perspective are tawdry and mundane. You deserve the prison of your mediocrity.

>>16625809
stfu edgelord

your other post reveals that you're just another low class retard who went to a rich dad poor dad seminar held by some prosperity preaching fraudster and now thinks he understands real estate. You can't build up "fat cash flow" from 400k in real estate investments you turbo retard

>>16625795
You first doublenigger. Oh wait idc about you.

OP probably should have ensured he could retire before he traveled the world but ffs what is wrong with travelling?
>ITT: Loser shutin NEETs

>>16623984
The why the fuck are you coming here to bitch about not having enough money to never work again when you've completed your bucket list. Get a fuckin job with your rich uncle or wait till he croaks and inherit it all.

>>16625964
I can't show you because I don't have 400k like you do in the checking account of your imagination you mega faggot

>>16626056
Well no reasonable person has it in a checking account, you put floating cash<10% in a money market and the rest is usually in securities but why am i even trying at this point you are helpless. cash loses value every second it sits.

>>16626188
>>16626056
and holy fuck it's in a brokerage account for christs sake but i guess you dont know what that is either oh fuck 6/10 for the salt and replies you got me dude. good troll.

>>16626200
>>16626188
you literally only talk in vague buzz words lmao

>muh money is in muh money market

shut up faggot

>>16616140
Why you lie OP? The stories you posted never happened to you.

>>16626237
ironically out of all the larps I've written, this one is actually true and not a larp.

OP is a faggot the thread

>>16618037
>>16621596
>>16616178

insults all advice and spends everything to impress people. a literal waste of oxygen

>>16625950
I went to a famous university and I well understand how someone with 400k can leverage it into a large property portfolio over a few years. Do some research you brain dead cretin.

Your lack of imagination or creativity is your downfall. You deserve your failure.

>>16626265
>i always LARP, but this time is different, i swear
Who cares, even if you admit its a LARP these faggots will still take the bait

>>16626217
epic

>>16626332
Do you honestly think that I didn't consult a CPA when doing my taxes? If you believe that you are a turbo retard.

There's no way to save money on crypto gains besides cap gains which only works if you held for longer than a year, and I've already explained that if I did that, it would have all crashed to zero.

But by all means, I'm listening. Not a single one of you turbo faggots have told me one way to save money on crypto gains, yet everyone claims there are ways. Fucking idiots.

>>16626418
i honestly think people like you are a disease

>>16626418
You're absolutely horrible at addressing a crowd

>U TURBO FAGGTS!!!!! IDIOTS!!! WAH WAH WAH U GUYS SUCK!!!!U FUCKING GAYTARDS!!!! REEEEEE!!!

>>16626418
>turbo retard
>turbo faggots
>fucking idiots
>hasnt left this thread in 2 days
Dude, go outside

at this point i think we can conclude OP is unsalvageable and his ego is his own worst enemy
i like btw how he namedrops richdad poordad like 30 times when nobody mentions it, i thought that was a boomer book for outdated boomers, you got 50 youtubers giving you more applicable info for free nowadays
where you touched at a seminar OP? you can tell us, where did the scary gookman touch you?

i don't know if OP is larping he is putting too much effort and way too much indignation into it, if you are 10/10 OP
if he isn't can somebody else familiar with the californian labour market answer me this
is it remotely possible for OP to go back to his high paying career after travelling the world finding himself for 18 months, if you try that shit where i am your resume goes into the toilet immediately
i am asking someelse because knowing OPs ego he will probs respond with my skills are so superior corpos will cream themselves to hire me

so now OP blow through his money, fucked up his career and only mcjobs, do you want fries with that, remains
i am calling suicide in under 5 years on this one, that or kneecaps

>>16626418
here's one OP: setup residence in a local that doesn't tax crypto gains
i believe puerto rico is the most suitable for burgers to accomplish that
tho i admit 400k is a bit on the low end to do that
not wanting to leave sanfagsisco isn't an argument

>>16626373
>DYOR

lol classic response from a dumbass know nothing.

Like I said from the very beginning, a 4-6% cap rate is VERY GOOD. If you can consistently earn higher than that, you'd be making millions on wall street, fucking dumbass.

Go snuggle your rich dad poor dad prosperity preacher books more, you know nothing

>>16626418
That has to be done BEFORE trading you retarded turbo faggot.

You can't make a shit load of money then relocate and file your taxes from there. Wow you people are fucking stupid

>>16626478
That has to be done BEFORE trading you retarded turbo faggot. You can't make a shit load of money then relocate and file your taxes from there.

Yes, if I had known I was going to make 800k+ in like 5 months I might of preemptively done something about where I file from. Great advice now I'll go build a time machine you ginormous fucking moron

>>16626488
>you retarded turbo faggot
>responding to himself
This shizo is having an episode, its getting good now

>>16626418
This is a radical concept, but have you ever considered not insulting the people you're trying to get useful information out of?

I know it's a really crazy idea.

>>16626512
well as i mentioned down this abortion of a thread: probability is high crypto will moon again soon, so consider this advise for the near future, also you asked for one sentence how you could in theory avoid taxes, not a magic button to make your taxes go away post event

and here is a second hint anon: its fucking crypto you can cheat a little, everybody that wants to make it from nothing has to
you can send your coins to random chain of addresses, move somewhere else send coins into new exchange and file taxes starting there, your new local will care little if they are getting you to spent money there, taxhaven 101

>>16626463
He's projecting his rage on the book he wishes he'd bothered to read on his 18 month holiday.

He's suspicious that everyone he met ripped him off and that the girls he met stole from his wallet.

>>16626480

4-6% is vert good FOR A BOOMER

And lastly, you avoid tax by refusing to operate within the taxation jurisdiction. Why not fly to some tax haven and take a tax residency? Because the first accountant you went to didn't tell you that. He wanted his cut. And you're too stupid to realise crypto is DESIGNED to help you avoid tax.

The only 'turbo faggot' here is you.

>>16626541
>have you ever considered-

have you ever considered that you're a turbo faggot?

>>16626543
Yeah, that's fucking illegal. Super illegal. Living in SF I obviously know a lot of people deep in crypto and FYI crypto is trackable. Even muh monero and other so called privacy coins.

And while they might not hunt you down, they will have the option to, and there's no expiration on the IRS hunting you down so if you cheat on your taxes, especially with a massive amount of money, you COULD get fucked. Yes people cheat on their taxes quite often, but for something like crypto, ironically, you don't want to cheat. Do I have to explain everything to you retards? I was the one asking questions initially but all I've done is explain things to you idiots.

>>16626602
4-6% is only good for a boomer? What does that even mean? If you can consistently get 8% or higher year after year, you'd be on wallstreet making millions a year before bonuses.

>>16623984
>Instead of buying stocks with my money, and possibly losing money instead of making it, I invested in myself. If you're too much of a butt tard to understand this, then good luck buddy.

Again, you're not getting it. You invested and made a good deal of money. Cool. But then you took the money and invested in yourself, only to come back to this board and ask how to invest money to avoid getting a job. THIS is what people are calling you out on; your impatience in setting up investments that will pay for your lifestyle you desire and taking that money that could have set you up and spending it on that traveling lifestyle.

Realize WE ALL want to travel and not have to wage slave. But realize it doesn't mean we have to wait till we're in our 50s to retire and live our golden years. That's why we're on this site. To get to that point sooner than later.

>>16626602
Also fly to a tax haven and take up tax residency? What the fuck are you even talking about, you sound like an idiot who read the back cover of rich dad poor dad

I believe he’s that guy who asked for advice, promised to pay, got advice then never paid, scumbag.

That said he is his own worst enemy and just desserts. No matter where you run to you mongloid there’ll you’ll be - you can’t get away from yourself. You blew your load too early and now, having tasted what it feels like to ‘make it’, are trapped with the certainty of returning to work. Lmao. Here’s an idea for free: put your car and turo and get some cash flow from it.

>>16626711
Sure, but the issue is everyone is like "ur so retarded if u still had ur money I could make u a millionaire with my investment knowledge"

Then I'm like, "well I can pull out 400k anytime out of my heloc, what advice do you have?"

Then crickets

>>16626724
everything into crypto, there will be a shitstorm about which coins ain't getting into that but everything into crypto right now
never said there wasn't any risk OP, but you are looking at shit you willnot handle if you have to go back living within means
eiter that or others have said real estate: move out to low CoL rent out your primary and use your heloc to leverage into more property not in super hot foreign money markets like cali

this has been said several times, you will not listen this time, come up with some silly yet entertaining insult to mentally block me out
and that is why we laugh at you OP, most of us are comfy with ourselves, you on the other hand can never run far enough to escape yourself

>>16626700
everything has risk legal or financial, never said it didn't
also 400k isn't massive money for the IRS you idiot, they are not going to hunt you down in portugal you paranoid shizo

>>16626819
I will not listen because it's fucking retarded advice.

How do I not work?
>lower your cost of living, reduce your lifestyle to nothing, moving in section 8 housing and rent out your sweet SF condo

wow great advice thanks. Obviously I want to not work while maintaining my current lifestyle, that was the point of this thread.

>>16626819
Ok you try to avoid paying taxes on 400k then. Good luck faggot

>>16626876
exactly as predicted and entertaining
any non braindead anon would realise low CoL would imply :not downtown of second tier city with still good living conditions, not section ape housing
do you comprehend how hot foreign money inflows destroy the cali housing market

and to piss you off even further i already reside in a jrusidiction that taxes neither cryptos, capital gains nor rental income, jokes on you OP

humor me this OP for further entertainment value, what kind of property taxes do you have to pay on your 500k property in SF, so in short my question is how long can you keep this up before your state basicly takes your house away

>>16626942
First of all, my property is worth over 1.2MM at this point. You can't take out a heloc at 100% it's value (you assumed my place was worth 500k) showing your ignorance of finance even further, so it's kind of funny how you think I should take you seriously when you prove time and time again you're a know nothing.

What does foreign money have to do with any of this? Regardless, it's one of the reasons my property is worth so much more now.

>>16626876
>won't consider lowering cost of living
when you're holding the gun to your head remember that it's entirely your fault

>>16627052
i thought i clearly estalished i am neither living in the us nor am a burger, so excuse me for not knowing every intrinsic techincal detail of us law, where i live you can get what would be called a heloc at 120% but without bancrupcy and this is why you don't go into specifics because they do not translate well

but that all besides you got a house worth 1.2 mil, sell now before the bubble pops and live comfy the rest of your life in some second tier city, you are still fucking rich OP what the fuck do you come crying here
do you realise how opulent that is compared to the rest of the world, you never have to work again you retard

and if you don't understand how hot moeny inflows disrupt the profitability of realestate i am pretty sure you'll blow through those 1.2 mil from your home soon enough

>>16627052
You've made this into an epic thread with your retarded refusal to listen. Thank you.

>>16626724
>crickets

That's what happens when you insult people you're trying to get useful information out of. Are you socially autistic and can't understand this concept?

>>16627292
No, I just literally do not care about your gay feelings and useless, backwards advice

>>16627369
>>16627065

I love how this entire thread is just OP getting continually shit on and digging himself an ever deeper hole.
Stay poor you 31-year old unemployed west coast faggot

>>16627448
Is that how you see it? Because I see it as a single level headed person fending off the turbo faggotry of dozens of jealous retards

>>16627467
I see someone whose arrogance doesn't match their complete lack of real world success starting a thread asking how to salvage the remnants of his crypto gains and turning defensive when the entire thread shits on him. And spending hours on a fucking Saturday to do so.

>>16616249
kek this post brought out all the redditors

>>16627467
They're jealous of you being unable to formulate a plan not to go back to work? Because that's why you're here, you're soliciting advice because you can't figure it out yourself.

You're asking, depending, and pleading with others for an answer while disrespecting and insulting them.

>>16627485
Hours on a friday too. He's a "turbo" incel NEET LARPing loser

>>16627467
LMFAO you will be working forever. And when I mean forever I literally mean you will probably never have enough to retire because you spend way beyond your means and live a lifestyle you cannot afford.

>>16624173
You will never -EVER- do anything useful with your life.

>>16627485
>>16627488
>>16627501
>>16627557
>>16627558

lol you turbo retards are truly seething

Can we make a hall of shame sticky for this board?

>>16626512
this
>>16626543
>just move to fucking puerto rico bro in case crypto might have another bullrun where you make money
great advice
>>16626602
>And lastly, you avoid tax by refusing to operate within the taxation jurisdiction. Why not fly to some tax haven and take a tax residency?
HAHHAHAHAHAHAHHAHAHHAHAHAHAHHAHAHA stop reading fucking flagtheory bullshit blogs written by scam artists
there is no way to do what you are saying for any US citizen, and also not for citizens in many EU countries. Not to mention that not many actual tax havens exist where crypto tax savings would be even close to enough to justify 1) leaving your home 2) living in a shithole

why the fuck do you retards always keep posting about things you know nothing about

I aint reading 300 posts of this shit
Is OP larping or serious? I find it hard to believe someone smart enough to make that much in crypto is also dumb enough to lose it all in 2 years.

>>16627646
he only went x8 last bull run, pretty fucking dumb
the number of times he's said "turbo" makes me think he's just an incelcuck acting like a total faggot for le epic bait

>>16627698
I see where you're coming from but I hear a lot of stories about people who had 6-7 digits on paper and they held all the way down to 5 digits

>>16627698
yes making half a million dollars post tax is pretty dumb.

shut the fuck up loser

>>16627735
keep holding and those 5 digits become 7 again
>>16627766
yes you're extremely dumb

>>16627766

that was luck
spending it in 1yr was the dumb part

>>16627766
>half a million
>300k after tax

>>16627817
I was rounding up, probably a little too much lol

>>16627614
cope

>>16619403
Yes, except long-term inflation adjust returns are right around there for the US market. For a long retirement, your ability to draw on your investments near-indefinitely is closer to 3.25% in pre-tax real dollars. Assuming you don't suffer any dividend cuts or other market bullshitterey, you would want to reinvest at least about the same (long term average inflation is ~3.22%) or $64,400 in your first year. So, your approach only leaves you with a spendable 2.8%/yr until you decide to deplete the principal.

It's the approach I'm taking with all of my fiat savings, but get-rich-quick it is not.

>>16616204
Normally I disagree with people when they say that traveling isn't "worth it" or is a waste of time or money, simply because I've done a fair amount of it and it is rewarding. I tell people to travel when they're young because you'll be tied down in the future with whatever. But jesus christ man you really dropped the fucking ball here. You're old as shit and hardly have enough money for anything at all. You were given a major break in life and you blew it Thai ladyboy cum. Enjoy getting a job and paying for everything.


really just hope this post is bate

>>16627977
>You're old as shit

31 is old as shit now? I mean, I fundamentally agree with the rest of what you're saying, but average retirement age is moving from 62 to 65 to when-we-die. I think even retiring in your 40's sounds pretty good relative to what most financial planning does. Now, does OP sound like they're going to retire in their 40's? No. A 31 year old that was on track for that though isn't in a terrible place.

Sincerely, an old-as-shit 31 year old, trying to retire by their mid 40's.

>>16628014
Old as shit to be taking 18months off work when you can't afford it. Old as shit if you ever want to have kids

>>16628014
What >>16628037 said
When you're really just past 28 in my opinion is when you should have a more solid and mature understanding of what you should do financially. Pains me to see older people stumbling around trying to make things work like someone my age (20). Obviously I'm pretty conceited when it comes to age but it's really about where you're at. Hope you're better off than OP

>>16628078
I own a 1.2MM dollar home in SF.

Are you retarded? We are not the same.

>>16628099
Sell it then invest retard the bubbles gonna pop on SF real estate. If you think you're going to be able to be a NEET with 50k in SF for any real period of time you're deluded

>>16628037
Agreed. I would love to take some time off, but despite the wage slave memery...somebody's got to pay the bills so I keep working.
>>16628078
Probably. I'm in between roommates, and luck had a huge part to do with it, but I do own my house outright. I have a positive net worth and even though I've never made >$100k/yr I'm on track to match my expenses with investment income some time in the next 10-15 years.

Sure, sometimes I wish I had more money and was closer to retirement, and I wish that I didn't fuck up my last relationship since I'm back to square one socially, but I'm in a pretty good spot /biz/-wise and I'm on track with a plan that I believe is realistically achievable without relying on any windfall events. I was a /b/tard in school though, so everything is a step up from there.

>>16628099
Ok you will for sure NEVER be able to retire in SF lmfao. Sell your house and move states, stop spending money like an insecure nigger and you won't need to work

>>16616471
>can someone tell me why is this incel forever poor faggot is lecturing me on financial prowess when I already have a higher net worth than him and his children will ever have combine?
Because you got wealthy following meme advice online and then you wasted it

>>16622685
>How do I save on my capital gains taxes
You have an uncle with 20 million in real estate. Capital gains tax are lower in 9 states. Does your uncle have a house in one of those states? If you can get away with claiming you lived there, you will pay less. Literal brainlet. Donate whatever you'd send to me to a battered women's shelter and post receipt.
>>16623810
>I didn't demand anything
You are a child
>>16623984
>Wasn't a poor investment
You can't quantify experience into financial capital. From an investment standpoint, you have less capital.
>Would you rather get touched at 5 or 55
Why is this the analogy you choose? Seek help anon.
>Those experiences matured me
No, they really didn't. You have spent your Saturday calling strangers faggots while living in gay friendly SF. You haven't really learned anything, and the way you spend your time as someone who is self described "rich" is laughable.
>Few young people can travel like I did
About to work on a cruise ship, paying no rent, paying nothing for food, and getting paid to travel while doing the shit ez job of playing music. You paid to travel. You got sold to, and you swallowed it all.
>I invested in myself
By learning relevant skills, making personal connections, starting a business, or purchasing tools to make money? Nope, you blew money on traveling.
>>16624094
>Can't live off dividends
You have to get a pretty high amount (around $1mil) to be able to cost of living off dividends. That's why people continue to work and just reinvest dividends. The stock -> dividends route still means working before retiring unless you start with a small fortune.
>>16624173
>I want to do something meaningful with my life
Like never work and be a leech on every single resource while contributing literally nothing?
>>16624213
>Wow everyone is so dumb here but me
See how many different posters are calling your decisions poor?

>>16624282
>Advice is to go find advice
You know when your general doctor recommends you go talk to specific expert doctor when you have specific problem? Your problem is how to avoid taxes, and the advice was talk to a tax man. You can't honestly be this dense, can you?
>>16624634
>I paid taxes so everyone paid taxes on crypto
You want me to walk you through why this is dumb or did the green text make the point clear?
>>16625119
>No free lunch
Say opportunity cost you uneducated prick. Stop ragging on a financial book for normies when your understanding of economics is meme tier.
>>16625649
>Tell me what to do with 400k
A fool and his money are soon parted
>>16625699
>I can't, so you can't
Once again, don't think I have to explain this one
>>16625773
>Obsessed with Rich dad, poor dad
You realize the target audience for that book is people with zero/almost zero financial knowledge. Stop projecting
>>16625950
>Another low class retard
You're the lowest class person in this thread. Money can't buy you morals, manners, or true friends. I don't envy you in the slightest.
>>16626217
>You only talk in buzzwords
You only talk in buzzwords too. Imagine claiming to know as much as you do and still not knowing what to do.
>>16626265
>This is true and not a larp
Fuck I hope not. This went from sad to depressing.
>>16626418
>Do you think I didn't consult a CPA
Did you get a second opinion? Did you speak to someone who specializes with crypto or did your boomer uncle spoon feed you yet another thing by giving you his guy's number?
>>16626480
>If it existed they'd go to Wall Street to make millions
Then why the FUCK would they tell it to you for free?
>>16626512
>This has to be done before trading
So you're basically admitting you jumped into a financial investment before doing the proper research. Honk honk
>>16626700
>Crypto is trackable, even monero
Its pretty expensive and requires block chain analysis. For the IRS to implement it large scale would be just to stick it to you.

>>16626712
>Claim residence in tax haven NEVER works
They're known as tax havens because they've never helped anyone avoid taxes ever
>>16626724
>I don't know how to invest 400k
People told you what to do to never work. Now you're wondering how to spend 400k. How did you run up your money originally? Once again, why are you posting moron
>>16626876
>I want to maintain my lifestyle that comes from working while not working by investing baby money into the market and expecting 25% return in a single year
Lol
>>16627052
>My property is worth 1.2mil
How are you struggling with having to work? Good lord you must be brain dead.
>>16627369
>I don't care about your gay feelings
Man I hope everyone is getting satisfaction knowing you're gonna end up waging forever
>>16627467
>I'm level headed
Are you? Could have fooled me.
>>16627766
>Making half a mil means I'm not dumb
You entirely equate money with success, money with happiness, and money with intelligence. Ask me how I know you aren't successful, happy, or intelligent.
>>16627843
>I rounded $300,000 to $500,000
Ahahahahahahaha
>>16628099
>My daddy bought me a condo I'm better than you
I wouldn't even waste the time to spit on you if I ever met you. Your unhappiness is punishment enough.

>>16629076
>>16629138
your advice is literally the mcdonalds of advice lmao.

>>16629201
F- -

>>16629195
A third. Wow. Literally seething.

Kind of hilarious how upset all these nerds are. Most obvious case of projection I’ve ever seen.

Traveling isn’t a meme, good for you OP

>>16628099
Wow the answer is right in your face. Sell your home, use the money to buy a cheaper place in Las Vegas, and invest the rest of it in a diviend like a REIT. If you even put 800,000 in a REIT you'd be making 56k a year.