/biz/ - Business & Finance

By the time zoomers are retirement age money will not mean anything and we will be in private work camps

>>28258182
haha fuck no

Wealthy people don't think about retirement, wagecucks do.

Ive been working for years and I still don’t have a 401k plan. All my money is in crypto.

woah woah wait, so 7 figure hell lets me retire rn??

have i been meme'd?

>>28258182
Thanks to ETH I am meeting my goal yes.

>>28258182
100k salary at 60? What decade is this from?

>>28258182
I already have more than 1500$ if you include stocks.
I earn way less than 30,000$, but I also don't have any debt.

>>28258478
based

I’m 23

>>28258639
zoomers get the rope

>>28258510
You have.

>>28258182
oh yes

>>28258724
Cope

>>28258182
No fuck that. When I can’t hustle anymore I’ll an hero. Either I make it before I’m an old fuck or I die trying.

>>28258510
Only if youre a clapped out wagie on the verge of death. 7 figures buys you like 20 years in the retirement cage and even less if you don't want to be beaten by niggers.

>>28258639
Impressive.
Very nice.
>nervously sweating
Let's see Paul Allen's card

>>28259492
Not true unless you're holding USD, but if you only have 7 Figures I would hope all of it's in chainlink

>>28258639
I'm 22 and posts like this make me get fomo, take risks, and lose money.

>>28258639
How did you do it anon? Similar age here

>>28258182
I'm 27 and I have about 8x as much as the median household with two working boomers aged 60-65. Including their house equity.
In case you were wondering, it is really fucking bad, the median boomer has $58,000 to retire off of.

>>28261675
Born rich anon. Don't compare yourself to that twat

>>28258639
>newfags have no idea
My delta app has more money than yours lol
You should add an extra zero at the end of everything, I don't even think these newfrens would suspect a thing

>>28261675
Daddy's money guaranteed

>>28258182
According to this chart I am since I’ve got about 20k in investments

Yeah, I'm about a decade ahead so far.

>>28258270
Fpbp

>>28258182
apparently I'm on the fast track

>>28258182
Already there according to your chart

Did you hear about Baex(#baex) defi binary platform? A lot of people try to bring referrals there, and I checked this option. 80% of commissions and 4% of the tokens bought by your referrals, that can be good for passive income.

There are a lot of stocks, indices, crypto, and fiat instruments, and I want to trade Microsoft and Apple shares, as I see, they are rising, so it will be easy to get money with them

>>28262079
>>28262181
Newfags are such a red flag. I'm dumping everything.

>>28258639
Do you not have a CPA and if you do how do they not convince you to not do this?

>>28258182
>22
>25k
Will I make it

>>28265244
Unironically, yes, so long as you don't leave that shit sit in some bank like a normie.
Metals and altcoins are lucrative.
BTC ETH LINK if you're flimsy and drink onions

>>28258182
I don't plan to live long enough to retire.

>>28265244
>>28265443
s.oy
if you drink s.oy

>>28258639
fake and gay

>>28258574
Keep it that way and you'll make it my friend. Don't have debt, always invest early, then hold.

>>28258478
absolutely based

>>28258182
way ahead of schedule anon
my salary is 0 dollars and I have 4k in savings :)

Don't like to trade crypto, as it's hard to get a rewards with it, but I am a fan of binary projectsDoes anyone use BAEX( #baex)?

A many of people are talking about it, and I want to know your opinion. As for advantages, people talk about a large number of popular shares and market instruments, as well as a referral system and transparent open-source code. Is it a good decision?

>>28258182
Only if ETH or physical silver moons

I'm 26, and recently had a lot of unforeseen expenses. $20k to my name. About $15k available to invest.

>Will I make it?

>>28266376
Kek

>>28258182
loooooooooooool I broke a million when I was 23. I’m rapidly approaching 4 million now and I own a house worth over 400k with three new cars and a boat.

How the fuck are people poor in this clown market? like nigga just buy anything, close your eyes and buy any stock index if you don’t wanna take any risk. It’s literally free money being handed out by the government all you have to do is put your hands out.

It really boggles my mind how anyone is not a millionaire by their 30s with the amount of money printing that’s been going on for so many years. Don’t spend every dollar you get on fancy cloths and other bullshit till you make it. It’s really not hard. I dont even know what to do with all the money I have.

I’m wearing a tshirt right now that I’ve had since high school and I haven’t been to a strip club in my life. If you want money then stop wasting money you retards.

>>28266826
That's how I live Anon, but i need to take care of my disabled mom because my pos dad won't help. It's expensive and takes up all my capital.

>>28265023
I can smell your low T from here

>>28267245
kek
I just think that's funny.
I certainly don't mind telling mine that I know what to do with my money, considering how successful I've become.

>>28266826
nice blogpost and reddit spacing. go back.

>>28267119
Well you are doing something worthwhile with it at least. Hopefully she has life insurance and a house to leave you for your sacrifice.

>>28266826
>I have...
You have nothing, and nobody would believe you if you did, zombie. Go to bed so you can get enough sleep for tomorrow's McDouble shift.

>>28258182
this chart is unrealistic. So by age 30 (I'm in my late 20's) I should have close to 200k saved? What in the fuck?

>>28267418
She does. And I have a good job. I'm just fed up as all hell, because I've been researching crypto since 2016, but never had the money to spare until now. And it's not even that much now.

What are my realistic options for $15k, in your opinion? Ballpark.

>>28267532
It literally says 45k actual savings.
You had a fucking decade, you retard. What have you been doing?

>>28258182
What is retirement? I'm not going to stop doing things now that computers exist. I plan on becoming a cyborg once I get too old.

>>28258478
401ks are pretty shitty outside of matching. Who know what the taxes will be in 20-30 years for them.

>>28265443
Metals are not lucrative

>>28267629
i spent the last decade jerking off and playing video games in my moms basement and never had a real job but i turned 5k into 50k on crypto in the last 2 months so i guess i'm ahead of the curve now. neat

>>28267782
Metals aren't a passive income regimen, they're a hedge against inflation and the collapse of the USD.
You buy both to secure your resources in case the medium we use to measure their value via drops off a cliff, so that you can feed your family instead of rolling around wheel barrels of valueless paper.

>>28267836
Well, it's taken me like a year and a half of wagie like a poorfag, but I'm in roughly the same boat.
Congrats. You ought to be dong much better by EOY.

>>28267403
You prefer a wall of text faggot?

Go be a nigger somewhere else.

>>28267451
I haven’t worked in years, stay mad wagecuck

>>28258182
That's not enough, retirement, 172K? Wow.

>29, FAANG job, 220k yearly, 450k liquid/stocks, 500k crypto, house 450k, own 320k on it.

And I'm not ready, I'm not rich.

$75k in 401k...$140k in roth...$230k in checkings / investment.
29. Getting there. Feel like I should contribute more to my retirement but fuck

>I invest in a retirement fund like some goyim
You absolute brainlets
BTC doesn't depreciate. Why on earth would you retards pay in to the tax trap?

$100k at 20
$25k in Roth IRA in Microstrategy shares

never made more than $10/hour lol

>>28258270
Nevermind zoomers, 30 year old boomers will never be able to retire like boomers. Hyper inflation will hit any savings account that isn't in crypto, precious metals or real estate.

>>28258478
Good 401k is trash. You pay a shit ton in fees, you dont actually hold your investments but rather a "monitary representation" and you get penalized for touching it before {insert ever increasing age the government chooses}. The tax benefits are a meme because you still have to pay on the back end when you withdraw and its taxed as income. With crypto you hold your tokens, you can sell whenever, and if you cash out and aren't rich you will pay a low long term capital gain tax vs income tax. 401Ks only benefit financial institutions amd the financially retarded.

>>28258182
Actually ahead

>>28258270
Kek

>>28267572
She is not your responsibility. You need to deal with your own shit, thrive and help others later on once you made it

>>28268531
>He doesn't know RE is a bubble all over again
Literally go on realtor.com or zillow.com and scroll, moran.

>>28267572
It might suck to hear, anon, but unless you help yourself making attempts to help others is futile.
Put in the time to work on yourself for a good five years and return to people in your life that you find valuable and show them how to escape the lead.

>>28258639
What app is this?

>>28258182
23
made 14k off a diversified 5k investment over the last 3 weeks, but now school is ramping up and I cant monitor stocks and semi-day trade anymore, and the job market is currently fucked for me
what should I put my money into at this point? Everyone is saying the stock market is in a bubble

>>28268946
Delta

>>28268786
By the time we're of retirement age it will grow and pop more than once. Having property (without mortgages) is better for the long term than having cash that the government prints 30% more of because there was a new flu this year.

>>28258270
Seriously. I feel like such a chump when Social Security and Medicare gets taken out of my paycheck every two weeks. This is money that I have 0% chance of ever seeing in my lifetime.

I'm 27 and I have 20k saved excluding crypto, and I have reef and avax. so yes, I'm on track

>>28269078
Okay, so if what you're saying is true, do I not take out a loan to build a $1mil house innawoods instead of just paying for practically all of it up front?

>>28258182
The United States will either be a balkanized hellscape (in which case I'll be dead/my savings will be gone) or an authoritarian socialist state (in which case I'll be living in my state cinder block apartment on the dole) when it's time for me to retire.

In other words, I'm not saving anything.

>>28269045
just drop out of school bro

>>28258182
Ive always thinked this but Im gonna say it now.
Saving money for when you retire at 67 is a miserable scam made by absolutely corrupt and heartless people and I hope they're experiencing the worst pain they can for this.
What you can do and enjoy at 70 with 600k versus what you can enjoy at 40 with 180k is so absolutely pathetic you're probably better off ODing at at 50 unless you have kids. Congratulations, you slaved away for 40 years, saved half your salary and lived a modest life so you can pop viagra and sun dry alone in Tuvalu.
Wasted existence if you do this. Live life. Your teens will never come back, dont lose your 20s and 30s aswell.

>>28258182
>late 20s
>$90k/year
>$250k stonks/crypto
yea im doing alright

>>28269402
this is my last semester

>>28269045
>school is ramping up
>the job market is currently fucked for me
>what should I put my money into at this point?
At the moment, it seems a rope investment would be the ideal play.

No, but, seriously, anon. Do not kill yourself and don't ask strangers for financial advice.
I'm not qualified to give financial advice, but if I were, I would tell you to buy two XSN Masternodes and tell your fuck your boss' daughter after you shit on his desk.

>>28268531
Issueis nobody will be able to afford anything if the state keeps doing what it's doing. Its the end product that matters, even if i make a million in crypto it does not mean much if im paying 100 bucks for chicken.

By that metric, yeah. I've got a salary of 45k, and somewhere around 55-60k in my retirement account, plus about the same in general stocks, and the same again in my bank.

>>28269322
No, but for 1mil you could build a $200k 4bed 2bath on 100+ acres.

>>28269492
Bitcoin will compensate for that like Gold and Silver dose.

>>28268582
Agree with all this, but the tax reduction is the only nice thing about 401k. Yes you get taxed by income tax, but crypto you get taxed by income tax and capital gains. You forget that money comes from waging for it which is taxed. So crypto your taxed twice. 401k your taxes once. But the tax benefit doesn’t beat the liquidity I want now. I want to retire at 35 not 60 something fuck

>>28268582
Company match for me works out to $14,000/year. Plus I’m in a high enough bracket that I’ll pay less in taxes when I withdraw after retirement. So yeah, if you work a low wage job with a poor company match, it might not make sense. But I max both my 403b and 457b for the match and the tax benefits.

>>28269322
put the millon in dividend stocks like at&t and lumn, borrow the money from the bank and use the dividends to make the minimum payment on the house/land and reinvest the rest into more dividend stocks for compounding dividends

>>28269607
Meh
My budget will be between 800-900k
I'm thinking a log home
theater room, a nice office, 4bed 3.5bath

I get that maybe I should wait until I know I'll have kids. I've considered just moving to the target area and just buying a < $300k house and then just renting that out once I move in to the house I build.

Am I a brainlet?

>>28268582
>>28258182
my employer offers 50% 401k matching up to the IRS limit of $19,500 per year, I realize it's free money but also I feel like I could get better than 50% gains in crypto. Am I retarded for turning it down?

>>28269322
The risk of getting a loan is if any of the banks collapse before you're done paying off your loan, then it's not your house anymore.

>>28258182
i always read that it was 1x income at 30, 2x income at 35, 4x income at 40, 6x income at 45, 8x income at 50, and 10x income at 55 and if you have 10x+ your income saved you can retire and live off the investments/work part time. personally i think it's more like 15x income to retire.

>>28269851
Anon... obviously.
I'm asking if, considering the topic at hand (housing bubble or bubbles) I would be smarter to just pay it all off up front, considering we have no clue how mortgages might be hanlded in five years.

>>28266826
You sound like a cunt but this tbqh, you could have aped money at almost anything in the last year and made 200-2000% or more.

>>28269963
yes, I only get 6% matched

>>28261675
inherited money from his parents lol.

>>28269963
Yes, you're retarded.

>>28269975
But what if I can still pay off the house instead of letting them take it?

>>28258182
nice meme chart bro

>>28269963
>Am I retarded for turning it down?
Full

>>28269920
Logs are a meme imo. But your head is in the right place in terms of your rental scheme. Cash flow is good, and it beats dumping all of your cash into a 1 million property at once.
>>28269851
Listen to this anon.

>>28269264
>reef and avax
Smart man. Consider UNN too.

>>28259842
Whoa, cool it with the antisemetic remarks.

>captcha: Select all images with Chimneys.
based

>>28259842

LOL

>>28269999
Rates are incredibly low right now. If you expect inflation then rates are likely to be raised. Which means you should lock in rates now with a loan. Don't pay in cash.

>>28269851
>>28270122
>divies
Guys, I'm thankful that you're actually respondign like adults and not just going all aspie on me, but divies?... Really?
Why would I not just keep doing this >>28269458 and shave off rewards to BTC, maybe a few mining stocks and the minimum tax incentive boomer shit?
The normies aren't around yet. We can talk like big boys here.

Am I just meming?

>>28270122
Also please explain why logs are a meme.
Thanks.

yes i'm exceeding it but I got lucky

>>28270410
If you risked away your life savings while you were in poverty, you didn't "just get lucky", anon.

>>28258478

Retard. I rolled my 401k into a Roth IRA when I left my last job, had $20k, and went all in GBTC when it was $8. Tax free gains bitch

>>28270448

my luck had nothing to do with trading or inheritance or anything illegal. i don't really want to share, if you asked me 3 years ago I was not even close

>>28258182
I am 27 and my money is like im in my 50's
nice

>>28268582

Lmao you guys are fucking retards. You realize in a taxable account you ALREADY paid income tax on it right? And then you pay capital gains on it when you take it out. Double taxation.

With 401k you don’t pay income tax when you put it in, you pay 0 capital gains, then get taxed when you take it out, but if you aren’t a poorfag you probably are in a way lower bracket in retirement than when you were wagecucking. You only get taxes once in this case. If you add employer match on top of this then you have to be an 85 IQ moron to not max your 401k.

>>28270835
Roth is better imo if you earn a decent amount, more wiggle room to invest it after taxes

>>28270384
I am an architect that used to do a lot of work for clients wanting mountain log homes in Colorado. It's a perfectly fine material, but I just don't personally like it much aesthetically kek. Just don't get super hokey and cartoony with it, and it will look fine. Wood and masonry together can be a good combo too, picrel.

>>28258182
i have $800 in crypto

>>28270950
I'm not a big aesthetic guy.
I doubt I'll get engulfed in their "look how pretty this is" sales tactics.
I'd rather focus on functionality.

https://www.goldeneagleloghomes.com
overpriced or nah?

>>28270945

You can’t directly contribute to Roth if you make over 130k without doing the backdoor method, but if you are in the 32% bracket or higher you should probably max out pretax accounts first. Roth is best when you’re in the bottom tier brackets and gets worse the more you make. Although with how fucked the West is we are probably going to see socialism and 50% tax rates in the future so probably good to lean more on the Roth than usual.

>>28258182
20s, 16k savings
Holy shit this post actually cheered me up, I just gotta clean my credit up

>>28269408
for real, with the way the US is going now.
You can enjoy your 500K at 70 which will be worth like 100K tops in today's money so you can wallow in your little favela until you die alone surrounded by niggers and chinks

>>28258182
Tfw $300k in crypto.
So I can retire now?

>>28261675
adobe cs6 (pirated)

>>28261675
IDK if you're still reading this but that is grade A larp and/or kneepad profits

>>28270502

I did the exact same thing lol

>savings
>600k

Wouldn't it be a terrible idea to do this? I can understand savings being in the tens of thousands in your 20s/30s but when you're in your 40s you should probably have a wife and kids and a mortgage and some shared investments you can use as 'savings' rather than just leaving money in your bank to get raped by inflation.

>>28260255
invest in $ROPE

>>28259842
noice

>>28266606
666 oh 6
ngmi

>>28261675
i think he went on Blockfolio & then just made up numbers like a phaggot

I'm 24 and have about $52k in savings and investments.

Biggest position is VOO in my ROTH IRA, followed by AAPL, NVDA, and AMZN. I also bought the $NET IPO and that's up around 200% now and quickly rising as one of my top holdings.

I have about $5k in ETH (now a top 5 holding) and $1k in BTC. Bought 3 ETH in 2017 which grew 10x and .02 BTC in 2020 which is up around 350%.

Sitting on $12k cash which will be dropping to around $6k soon -- upping the portfolio allocation because there's no reason for my money to sit in cash at the moment.

The market wants to reward idiot savants like me rn so I'm going to let it. Worked in finance for 6 months (just graduated Uni), got laid-off due to COVID, now I collect my NEET bux from the U.S. government and invest 95% of it. I have no liabilities and live with my parents comfortably. Covid sucks but I'm trying to set my future self up and think I'm doing well everything considered.

>35
>90k salary
>car paid off
>still 28K student loan debt
>35K in boomer stocks
>7K in crypto
>70K across my IRA and 401K
>had 850 shares of GME that I sold for fucking $4 in Sept last year
I don't think I'm gonna make it, my dudes. At this point its just hope to hit a 100x lotto in altcoins

>>28264714
I'm pretty sure the market will crab/go up as long as there's stimulus money+everything 'opening up' in springtime to push it along. A summer crash might happen once things are open and not significantly better, but I think the promise of FREE money for institutions will keep the ball in the air a little longer.

>>28271565
I missed out on $ROPE while my Telegram bros made money last summer. So disappointed in myself.

>>28271371
Even without the economic decline, the life expectancy is around 80 years, and a 70 year old body is just objectively worse with every passing month.
There's literally no reason to postpone your "free time" until you're in your late 60s unless you're a masochist or you're working 40 years out of some udarnik patriotic drive. Enjoy life at 40 or 50 with less money but the ability to run up and down the stairs.

>>28271085
They seem a little pricey. You're probably better off finding a local log home builder close to where you want to build. They'll likely know more about local contractors and local material sourcing to save on shipping costs which can be absurdly expensive if you're shipping stuff across the country to some remote area.

>>28258182
>25
>0
>0
yeah

>>28270835
I'm a homeowner with a stay-at-home wife and two dependents I already paid very little and federal income tax so the tax savings to me or irrelevant and the shitty single-digit gains that I'll get from a 401k or vastly outweighed by what I make in crypto and why don't you do some research into how much of your portfolio gets eaten up and management fees look up what a 1.5% fee does to the life of a 401k over 40 years. I'm not going to lock my money into some fucking jewy financial institution for a single digit yearly gain. the minimal tax savings I would receive are vastly offset by the savings I get by not paying fees and buy the gains I make in

>>28258182
im 29 with 100k saved and a 100k year a job, am i gonna make it?

>>28272069
They do a ton of work in Colorado, but their main headquarters is in Wisconsin.
Of course they seem a little pricey, but I'm lazy and not creative.
Could I just make a floor plan through one of their molds and tell a local builder what I want?
Are they going to have a similar quality of materials?

I'll keep this in mind. Thanks either way.

>>28269975
>>28270089
realistically the worst is you'd be under water, but if you could pay it all off anyway that isn't a real issue.
real estate is stupidly overbought because of low interest rates. there's two good plays you can make right now, the based play and the based retard play
>based: buy undeveloped unincorporated land and put a double wide on it while you gradually add utilities and build your dream house
>based retard: take out a 40 year mortgage on a condo in an urban center rent it out to cover the payments and sell at profit before the crash

>>28258182

I’m 41. This is my 401k....have half this amount in Roth IRA.

>>28258182

600k can't honestly be enough to retire on

>>28267629
10 years of university
$200k in debt

>>28272303
>Could I just make a floor plan through one of their molds and tell a local builder what I want?
Yes! You might have to change a few things here and there to make it "original" but it is a good way to save some costs. A lot of people do this.
But to the other point, material quality should be just as good from a local or big outside company, so long as you have quality contractors. I wish there was a good way to consistently find quality contractors, but there isn't lol. Get some bids and ignore the cheapest and most expensive ones is a good rule of thumb in my experience. Usually the home builder will take care of this too if you want.

>>28272693
It can be. If you plan on remaining single and living like a college student for the rest of your life. Fuck that lol

>>28272693
it is if you retire at 80.
desu the math for retiring in this climate as a millennial is just fucking brutal. these traditional methods are total bullshit at this point.

nft
staking
profit
stufff fuck it.
why would you invest it all in one fucking thing?
you’re dumb as dick.
>my purse with playcent and you will suck this nigger balls with fucking shit you shill

>>28272693
It is if you wish to live very frugal and live like hermit eating ramen every day.

Making 100k as a senior lulzzzzzzzzzzzz

Financial planners are soo out of touch becuase the people that need to save the most are the ones that cant be arsed to get a bank account in the first place.

wow, who told you about these alts? This is trash man, don’t believe these niggers
if you wanna get profit use your IQ and follow yield farming
I participated in metalex and they made a new model, a guarantee of 300% apy

>>28272772
>millennial
>retirement
kek.
We're not fucking retiring. I just try not to think about it, and enjoy my life while I still have some of my "youth" in my mid-30's. Hope for a 10-100x cause that's the only way any non-boomer's gonna retire

>>28258182
Where I’m at according to this chart I should just put a bullet in my head since I’m NGMI lol

>>28258182
>21
I have this + 350 oz stack of silver. I just spent all my money this year on investments, I make 40k a year as a security escort so it feels good have a decent chunk in the bank (not really in the bank). I think I have more liquid net worth than my parents. The job is incredibly boring, 14 hours, 6 days a week. I already put in my 30 days so I can go back to the NEET life and focus on some personal projects involving crypto and develop my programming skills. Hopefully things turn out alright for me I never expected to do this well with crypto and I'm grateful they have. For the first few months I was in the red just wasting money.

I was never fond of banks because they just take your money, loan in out, and don't give you shit for it. "Oh but you get to use our shitty system where you have to pay 5$ to make an atm withdrawal and it takes us 5 days to get the money ready for a large withdrawal".

>>28272740
Thanks for explaining things, anon.

>>28273172
sounds crazy but i think we're gonna make it dude. x1000s are entirely within the realm of possibility and i think you're going to see a lot of that with biotech, orbital infrastructure, and crypto in the next 20 years. if we play our cards right we'll be rewarded handsomely in old age.

>>28273264
No problem. Good luck on the dream home, anon. We're all going to make it.

but you spend more if you grow older (kids and shit) and wages dont scale to match

25 with 0.8k in my bank account :)
its ok to be poor.

>>28258639
>no avax
ngmi

>>28274180
29 with 8k spread out between silver, crypto and my ira lol, hopefully I make it one day, but its not like this world is all that great right now anyway, might as well take some risks.

>>28273659
ty, anon!
I've no doubt we will.

no i spend all my money. sorry, not a gay nerd

My retirement plan is going well, it's called AVAX

>>28274180
>>28274374
we will all make it someday bros

>goyim you must give up all your wages for your entire life then you may have a meager retirement at 65 years old, where you will die in 10 to 15 years
I fucking hate society.

>>28258270
Nah you all dumbasses, study history idiot.

During the weimar republic, the closest example we have to hyper inflation in the western world, Young people rose to prominence quickly, those young and nimble, the ones that could speculate on the markets, the ones that quickly understood social change and sought to exploit inefficiencies in markets and exchanges amassed enormous wealth.

It was the middle age and elderly who suffered the most, the ones who couldn't wrap their heads around change, the ones that didn't rush to speculate on the markets, etc

Sounds familiar?


Boomers think they're securing their retirement, they're in for a rude awaking when this unravels.

>>28258182
>$0 salary
>low 4 figures savings
Huh, guess I'm set for life.

Holy shit. I just totalled up all my crypto, investments and bank balances and it turns out I have a networth of $70,000.

I put in about $5000 total in crypto and that's sitting at over $50,000.

Feels theoretically good man. Would probably cost me about a grand just to cash it out though

>>28258182
Yes but not if I want to buy investment property/start a business/gamble on stocks