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/biz/ - Business & Finance

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16768839 No.16768839 [Reply] [Original]

have just recently gotten absolutely addicted to making money and am extremely interested in trade and investing and so drew up this rough structuring for my money.
how can i take it from being absolute shit to not that shit?

>> No.16768850

>>16768839
Your taxes are gonna be the size of your country's tax code.

>> No.16768872

>>16768839
401k and IRA is for idiots.
Look up the qualified small business tax credit for C-Corp ownership of 5 years or more. If you can't figure out how to use that to cash out tax free in 1/12th of the time it takes to cash out an IRA/401k tax free, you don't deserve money.

>> No.16768878

>>16768850
yeah i sent this and a list of questions to my dad's CPA and will be going over it not being absolute cancer.

>> No.16768906

>>16768839
you won't make that money each month. Lyft and Uber like to sneak ya when you least expect it

>> No.16768911

Retarded, just put your $1000 spare into crypto.

>> No.16768924

>>16768906
i went with the average reported income of $18/hr, multiplied by 30 hours a week, times four, then averaged that with the high range estimates for city drivers (highest I've heard was $4000/mo) and stayed on the extremely conservative side of that to arrive at $2500

>> No.16769888

>>16768839
>no crypto
get the fuck out of my board and never come back

>> No.16769914

>>16768839
> Low Risk / Long Term
what are you fucking gay?
get rich quick or die trying

>> No.16769933
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16769933

>>16768839
>poker gambling
>scalp trading crypto
>day trading boomer stocks
>swing trading "low risk" stocks
>penny stocks
I needed this laugh, man you are gonna get so rekt

>> No.16769971

Really? That much effort just to shill your poker site? sage

>> No.16770009
File: 113 KB, 540x834, IMG_20191123_190655.jpg [View same] [iqdb] [saucenao] [google]
16770009

>>16768839
My thoughts as someone also in the process of creating a structure like this is.... it's way too much to manage. Scalp, Day, and Swing trading mean your money is tied up and so is your time and attention. With your income, I feel you'd make more in the long run just by buying BTC and holding. (My income isn't much more, btw so not judging.. this is my experience).

In my position, I am trying to acquire 1-2 BTC before halving (I currently have 0.001 BTC). That takes priority over everything else. After that, and once income increases, I can divert money into something more traditional. Maybe change your focus to something like that and then "diversify"

>> No.16770365

>>16768839
Serious answer OP, save for a year or two and buy a property, like a duplex or single family with an in-law.

You will save so much money on rent, you'll build equity, and you'll make money in the long term.

Then just keep buying property. Fuck stonks, they're rigged against the average worker. The only other place you should put your money is Crypto, and that's just bc BTC is going to $100k in the near future so you'd be dumb not to.

>> No.16771344

You're not going to be able to do Uber driving and monitor the market as well as you want to, you'd need a desk job of some sort

Unless you wanna drive all odd hours

>> No.16771563

>>16768911
dubs. yeah put it into Arpa and you will make it

>> No.16771645

>>16768839
What is your actual goal though - do you have any bussiness or saving objectives?
That online poker part is a joke, right?
The amount of hours you'd need to spend managing all those diffrent medium risk streams is not going to be worth your time. You'd be better off finding another hustle or doing more trips for those apps. You'd have to be pretty autistic to do it well, keep them all in your head and trade intelligently.