/biz/ - Business & Finance

>>22822699
I'll never work. If all else fails I'll knock up a black woman 10 times and collect welfare for the rest of my life.

https://www.youtube.com/watch?v=_tW1flXewtM&feature=emb_rel_end

>>22822699
>Tom Coomer

Never had a chance.

>>22822699
LMAO his name is fucking Coomer.

>>22822699
You're missing the point. Thanks to covid, a lot of stuff, that was gonna happen anyway, down the line, is happening as we speak. Soon, wagecucking won't be an option, anyway, for an ever expanding group of occupations.

>>22822699
note the first words out of his mouth "if i had planned better when i was younger". Anyone on this board will certainly retire before 65 purely by knowing about crypto right now. Anybody still working when they're 65 deserves to desu. Unless your life is destroyed by an Act of God, there is no excuse for not having your shit together enough to fucking retire by 65.

>>22823152

We have a lot more information freely available to us now than we did just a few decades ago before the internet got big. For instance, even science was restricted to those who could pay for access to scholarly journals, let alone financial information that could be used to get out of poverty.

>>22823360
scientific journals are mainly for enthusiasts, practical science and medicine information was easily available at libraries. and while boomers may have had less access to business information, the barrier for success was literally 1000x less severe than it is now. you could pick ANY job, save your money, buy a house, and cruise for the rest of your life. boomers who failed are the lowest of the low

>Coomer
He spent his savings on prostitutes so now he has to work

>>22822699
stop posting this guy here. you retards realize a lot of old people do these jobs just to have something to do, right.

>>22823044
>>22823072
>>22823629
>

>>22822699
xeth.finance

how does this man have this type of sunny outlook? is true c o p e possible to actually achieve? has this old timer coped the pain away? fuck, I'm so bitter, I couldn't take it on the chin like that. fucking boomers man, the kikes really did a number on them

>>22822729
That's a hoot.

>>22823721
Came here to post this.

>>22823906
Is that C Wizzy? Fucking classic.

>>22822699
All they had to do was invest such a tiny percent of their income every month and they would've been fine. Seriously, how the fuck can you not afford to save money in a place as cheap as Oklahoma, especially if you had such a comfy job?

>>22823927
You know it.
>>22824173
You didn't pay attention

1) He lost his job nearly 30 years ago, and had been living off those same savings for 20 years.
2) He only had a High School diploma. They don't teach you how to invest, nor was it considered necessary in the age of pension retirement.

>>22823806
Coping gete 100000000000000x easier for each decade you age.

>>22822699
Working is really not that bad, espcially if you're educated and experienced. You can command not being treated like a cuck.

>>22824454
FDR gave boomers unrealistic expectations about retirement

>>22822699

>work 50 years
>never save or invest anything
>complain that you can't afford to retire

People who do this are literally mental retardation-tier intelligence.

All you have to do is save 10% of your paycheck in an index fund for your working years and you will retire a millionaire if you made anything close to a median wage during your lifetime.

Instead these instant gratification losers spend everything they have (and often go into debt to spend even more than they have) and then cry about the government not giving them more handouts once they reach the end of their period of usefulness to society.

>>22822699
>Tom Coomer, the eternal wagie

>>22824511
They weren't exactly unrealistic until slowly beginning with the transition to fiat currency during Nixon's term onward to such other economic tragedies like Reagan's amnesty and repeal of the Glass–Steagall act. If anything, you should blame Boomers for their lack of awareness and anticipation of consequences.

>>22824640

Jobs are slavery and a crime against humanity. The only way out of wage slavery is de-facto MGTOW. Live with your parents for as long as possible, invest wisely, and move out by around 30 or so. Then keep saving and investing aggressively.

I hope to follow this plan and retire by 40-45.

>>22824521
You are applying Great Recession lessons anachronistically to broken 20th century promises.

>>22822699
Boomers lived life on easy mode. I think any boomer with financial problems must have neurological deficiencies.

>>22822699
Yeah 80 is not boomer range so I feel bad for him. At least he is rich in terms of the relationship with his wife.

>>22824709
saved kek

>>22824711
By the time you're 40, what is there left to enjoy? All your peers will be miserable slaves still, and you will be in the first stages of old age.
You really should strive to make it no later than by your 30s, because at that point, you still have a life to look forward to while you're still standing far enough away from it.

>>22824745
OP's particular case isn't quite a boomer, and he had a manufacturing job right up until the point when they started getting outsourced overseas, and that cost him his exit plan right at the finish line. You must understand, this man had no professional degree and all the jobs in his field were drying up; on top of that, his company screwed him out of his retirement.

>>22824791
That's difficult to do. I'm 26 and my net worth is probably about $90k. And that includes retirement accounts that I can't touch until 59 1/2. I only make about $75k. I think retirement by 40 is the earliest I can do.

>>22824847

I've been thinking a lot about the 2000s lately. And it's crazy how even before the 2008 recession we knew what's been happening yet our politicians did nothing and everything has gone to shit since the.

https://www.youtube.com/watch?v=pKv6RcXa2UI

>>22825074
You're not supposed to just sit on the money and otherwise invest just a tiny portion of it. "Making It" in the case you describe will lead to you being a penny pincher by necessity in your early "retirement".

Just a reminder, what you need is not having X million dollars, but enough passive monthly cash flow to cover your living expenses and then some. Making it comes in many forms, frens.

>>22825203
>even before the 2008 recession we knew what's been happening
Intelligent and informed people like Peter Schiff knew what was happening. Unintelligent and informed people lived in denial. Unintelligent and uninformed people don't understand economics and law to begin with.
>yet our politicians did nothing
There was almost nothing that could be done. Much of the crash came from poor people taking out loans they couldn't afford.

>>22825225
I’m not sitting on money.

>>22825245
That'll work for about 30 years until inflation fucks you over.

>>22825245
The same arguments you can wield against having so much in savings being sufficient are virtually equally applicable to having "passive income"---namely, that both could basically disappear unforeseeably: one gradually (due to inflation) and the other immediately (due to, for example, a crash-based foreclosure).

>>22825292
And who are you?

>>22823072

>>22825286
>There was almost nothing that could be done. Much of the crash came from poor people taking out loans they couldn't afford.

All the deregulation of the banking sector was the bigger factor. Also note that today there is basically no enforcement of standards at all. Its the wild west today and the United States is a failed state with a non-functioning government.

How do we profit off old boomers willing to work for peanuts?

>>22825809
Unless you own some place where boomers are actually willing to work for peanuts i dont see a way

>>22822699
McDonnell Douglas is incredibly based, cucked him into 29 years of slavery and got away with the goods lmao

He had an 8th grade education and started working in his late teens. According to what he's making now with only partial pension and walmart wages he was probably taking home around 5k a month. There's zero reason why his house shouldn't be paid off at the very least. Just passively investing 5% of his monthly income would probably have netted him millions. He probably blew his check on dumb shit like boats and cars.

>>22826602
His wife has expensive health problems but they did say they "downsized" to that home which you may have been expecting them to live in to begin with; makes you wonder what they were living with before, indeed.

>>22826602
Kek dude I got a boomer who bought boats and a second home. No doubt in my mind that dude must be leveraged in debt.

>>22822699
I cant view this video in my country

>>22826805
Yeah but I mean I doubt she had those problems her entire life. He worked just under 30 years. He should have at the very least had his home 90% paid off. Houses cost like 40k back then as well. Imagine taking home the equivalent of 6 figures at 18-19. You'd have to be an absolute retard not to be able to retire at 80.

>>22826892
see >>22824454

He probably had to sell whatever home he used to have for extra cash. 30 years of constant work lasting 20 years of non-work is a pretty decent record. You lack perspective here.

>>22826945
He has a partial pension though, and from the looks of it he never properly saved...

He also leeching off of social security good for him, but that not somethibg millenials will get. His generation was given the keys to success and he fucked up thinking good times will last forever. At least smart millennials know how to save and prep for the future.

>>22824647
>They weren't exactly unrealistic until slowly beginning with the transition to fiat currency during Nixon's term
This is the main reason retirement is so fucked. Ideally the currency would increase in pruchasing power so that way you can just retire on a nest egg you saved yourself over the years and that would be it. But obviously this shit is gone and will probably never return unless the current financial system is overhauled, which I doubt will ever happen.

>>22826945
Dude he's making 3100 a month after taxes working at fucking walmart with a partial pension. He was fucking making bank when he was working fulltime. His home should have been easily paid off. He had an opportunity to buy apple and amazon at a dollar. He could have invested $100 into fucking ford every month and be living off dividends right now.

>>22823072
Hahahahaha was gonna say this!!

>>22822699
>Tom coomer
You can’t make this shit up.

>>22822699
this is what Trump means when he says MAKE AMERICA GREAT AGAIN

This shit scares me. God damn it bros I hope we all make it in crypto.

>>22825310
rent rises with inflation

>>22827142
$3100 a month is less than $40,000 a year. That's lower class salary. And, again, his wife has expensive medical bills which will only become more costly as her condition worsens due to age. And what is going to happen when the market crashes for real soon and we enter yet another recession/depression? You're going to be saying he should have been saving for that too, lol.
see >>22824714

>>22822699
I'm a sex offender
My life's hell

>>22827220
The thing is he didn’t plan. He had access to more financial resources than your average gen z/millenial coming out of college.

>>22827221
what did you do?

>>22827022
>he fucked up thinking good times will last forever.
I'm really starting to think you all are legit retarded when you keep repeating the same nonsense conclusions from this case.
see >>22824647 and >>22824847 already adressed

>>22823360
I have been RUGGED more than 30 times this year.

>>22822699
man swallowing a bullet it way easier

>>22823152
I have been RUGGED more than 30 times this year. Crypto is not going to let you make it.

>>22827326
"Smith & Wesson retirement plan"

>>22823152
>go all-in on crypto
>one pump away from making it and cashing in all your gains
>crypto gets banned in every jurisdiction you can move to, making cashing out impossible
do you get it now? this is what the OP man dealt with

>>22827220
at a certain age they should stop charging people taxes. poor coomer

>>22825203

>tfw that video was made in 2005

And you know what?
I DON'T GIVE A DARN FUCK
GO BACK TO YOUR CAGIE WAGIE

>>22822729
Mad your girlfriend got Blacked while you were working the night shift at Macdonald’s?

I legitimately refuse to become a wagie for the rest of my life. If I ever work another shitty McJob, it'll be exclusively to harvest more Stocks or Crypto. Once I'm in the pot for the future, I'm buying a cheap property and retiring asap, playing Stocks on the side for bigger boosts.

>>22824173
Right. His job would have been union with decent wages. It’s cheap as fuck in Oklahoma. If he had invested 5% of his income for 35 years from 1960 to 1995 while also paying on his mortgage the whole time, the house should be owned free and clear and he should have at least half a million in the bank
For retirement.

>>22824454
He lost his job 30 years ago, so for 30 years it didn’t occur to him to find another blue collar job, I.e the guy that holds the clipboard on municipal infrastructure jobs? You can be retarded and do that job. That’s the thing, if the private sector fucks you, and they probably will eventually, just apply to every government job all over the country. You’ll get hired somewhere. He may only have an 8th grade education, but he’s not black. Think about the he jobs blacks do for the government. You get one of those and they just MMT your pay forever, plus pension or you can do a private IRA or whatever.

>>22828168
>Think about the he jobs blacks do for the government.
Think about how many of those jobs seem to go to whites when there is a population of blacks to draw from.
>it didn’t occur to him to find another blue collar job
You obviously don't know what happened to US factories.

>>22828203
I’m well aware of that but he probably wasn’t willing to move. It’s true millions of jobs got outsourced in certain parts of the country, but during those 30 years from 1990 to today, California never stopped growing and neither did government jobs. He could have bought a small home in a suburb of Sacramento and been a meter maid or something. Granted, I wouldn’t want to move to a new state at that age.

>>22823125
So whats the escape plan? crypto all the way?

>>22828268
Of it gets adopted in the way the internet did, then yes. But probably not a bad idea to be in normie stocks too.

>>22822699
>boomers alienate their genx/millennial kids and blow all their money on bullshit
>now unable to retire

Yeah, okay.

>>22828284
I'll probably be bumping up my investments into index funds. I'm at the point where 80% of my pay goes into crypto though after watching this and the kucoin hack I'm going to derisk into some funds/stocks.
fuck that shit is scary..worse than any horror movie

>>22823152
>>22827349
You just need to be set with that one project that's legit that you bought into early on and wait for the bullrun, then you'll have a nice egg to go along with your salary and you can wait for the next covid crisis/recession to invest into the market and maybe run a side-gig blogging or writing porn novels or drawing porn or doing a porn podcast. Then start a business, possibly porn-related.

You gotta want to make money, to make money.

>>22822699
Fucking boomers had everything handed to them and it's still not enough

>>22823072
Based

>>22826852
>be 80 year old boomer
>work at fab plant for 29 years when plant closes.
>miss the 30 year pension window by "that" much
>never saved because expecting pension
>be walmart greeter to make ends meet
>also my mortgage is still not paid off for some reason

"Mortgage" literally means "death pledge," and in his case it's applied quite literally.

>>22827248
He works in the video game industry.