/biz/ - Business & Finance

>>29087332
I was unironically Ramseypilled until I made $50k off of GME in two weeks. I even read Total Money Makeover. Now I've made $20k more in OTC markets in the past two weeks. I'm glad I didn't dump 95% of my savings into my debt, but I was like a day from doing so.

>>29087332
All of those except the first one are completely correct though. All of that is good advice.

>>29089125
Emergency funds are dumb dumb

>>29087332
Based boomer

>>29088358
> dump 95% of my savings into my debt
jesus christ you were this close to being a good goy good boy and shooting yourself in the leg

>>29087332
This guy is dumb and says common sense stuff.

I learned all this shit from being broke. I am now terrified of being broke again. I finally broke down and bought a car in cash this winter and its stressing me out.

>>29087332
Boomer doesn't realize this is clown world now. The system is designed so that you can't accumulate capital to stop wagecucking and challenge the elite.
The van pill is more appropriate for clown world. Eliminating your biggest expense makes you much less reliant on wage cucking and a chance at having significant capital to invest.

>>29090318
Insanely based.

>>29090318
Nice van bro

>>29089636
That's step 2 of his program.

>>29090318
The Jew fears the thrifty van tiny home maker.

>>29090318

does this person only have internet via mcdonalds parking lot wifi or what

>>29087332
>Its In Code

>>29092450
Just get home 4G wireless internet. But if you're going to leech wifi, use a yagi antenna on the roof of the van and make sure you use a VPN.

>>29087332
Got ramseypilled at 19
>Debt free
>$150k networth
>$45k in a ROTH IRA
>35k in investments
>Own a debt free company with $30,000 in asests
>Still own .12 BTC cus I ain't a complete idiot

>>29093174
Regarding the Roth, what happens if you start making more money and thus become unable to contribute? Does the account bounce your contributions?

>>29089376
Always have liquidity to make down payments on emergencies. Car breaks down, ER trips, tree falls on your roof, etc.

>>29093315
Gross income has to be over $139,000 per year to be ineligible.

In short, yes you won't be able to contribute. You can still MAKE the contributions but if you ever get audited you'll be in a heap of trouble. In reality, rich people get around this very easily.

i.e I own my company so I get to pay myself whatever I want. I can keep my income as low as I want for years and contribute. Also, you can open business ROTHs and contribute to your employees ROTH.. aka me.

It's all legit.

I figured I would start that ball rolling as soon as possible and I'm very happy with it thus far. Haven't added a single dollar to it in like 3 years cus i wanted to start a business and saved up for it

>>29093584
I've got plenty of liquidity mate, called my parents.

>>29089376
Hey as long as you never have emergencies you'll be good! /s

The peace of mind that comes with an emergency fund is wild. Also, it helps your relationship with your SO.

They feel safe, because they are. There is a buffer between you and life

>>29087332
Ramsey is based, I follow many of his principals with staying out of debt, only going for a 15 year mortgage, and living below my means.

He has great conservative time tested methods for building wealth, I elect to put some of my savings into Bitcoin + crypto though which he would never advise.

>>29092450
Just buy a wireless puck and take it with you wherever you go

>>29093584
Grown ups have insurance.

>>29090318
whats better the van pill or the hotel miner pill

>>29093315
Dont listen to this guy >>29093721
You can still contribute. you do what's called a backdoor conversion. It's 100% legal. I do it over the phone with a fucking fidelity rep 1x a year.

>>29090318
What kind of van is this

>>29090318
>he lives in a van down by the river

>>29093315
Two things.

1) If you make Roth contributions during a tax year and find out later that you made more money in the tax year than is allowable, then you are able to "recharacterize" those contributions to Traditional IRA contributions until April 15 of the following year.

2) If you make more money than the Roth limit, you can do what is called a "backdoor Roth" that is essentially the same thing. You can make NON-DEDUCTIBLE contributions to a Traditional IRA, and then convert those contributions to a Roth. Google Backdoor Roth for more info. Totally legal and acknowledged by the IRS.

>>29094016
tell me more about hotel mining

>>29093584
I don't understand, I literally have insurance for all of these things. And if I have to pay immediately I can use a 0% interest credit card and then pay it off once I get reimbursed

>>29087332
CASH IT DUDE! BY NIGHTFALL!

>>29094381
Some anon started a thread the other night talking about how he was living in San Fran, paying like 2k in hotel fees and making 5k mining. I saved the images because I had never heard of anyone so unfathomably based. He even befriended the janitor to look out for him.

>>29094163
I don't know, but people usually buy second hand transport vans like ford transits or mercedes sprinters. Must be a few available from small businesses getting wiped out by covid. In theory you could use anything that will fit a mattress and just use that to sleep in (even an SUV, or a car with the seats taken out). Get a gym membership, shower and workout there every morning, go to the library all day to trade crypto and use free internet. I never done this myself, I'm just fascinated with people doing this and playing life like it's a game and you're grinding at the early levels.

>>29093721
You have this completely wrong. There is a max at which your IRA contributions are not tax-deductible, but you can contribute the max at whatever income you have and then covert it to a Roth IRA using the backdoor Roth IRA method. You don't have to worry about being audited or using a sketchy shell company wtf lmao

>>29094381
Kino in the making

>>29094469
if you literally have no deductibles then you're probably getting raped by premiums.

>>29094706
>Dingdingding
Thank you very much anon, this is exactly what I was referring to.

>>29094676
He would need 50 more of those rigs to even approach 5k a month. Counting the appreciation in crypto doesn't count. If that were the case, just buy crypto

>>29094960
apologies, it seems like it was less >>29094833
Check that anons post

>>29094960
This.

>>29090318
Where does the power come from lol

>>29090318
how do you get water and electricity? wouldn't it be easier to get robbed? is it cheaper than your slightly below average rent?

>>29090318
Where do you park a van to avoid getting robbed at night, or told to scram by whoever owns the parking lot?

>>29094676
that thread blew my mind when i finally comprehended how fucking based that guy was. the hotel basically pays him to stay there

>>29095279
Deep cycle batteries --> sine wave inverter
Batteries are charged by alternator, solar panels on the roof, or just by plug in charging.
But if you can't afford all that, just get a laptop charge it outside like at the library everyday Terry Davis style.
>>29095450
You just have a pure water tank with 12v water pump that drains into a grey water tank
>>29095526
"Stealth van" build, make it just look like a transport van from the outside.

>>29093868
shut the fuck up redditor holy shit

>>29093868
Kys you absolute faggot

>>29095698
I know man, that was some wild shit. One of the best threads I've seen here on biz in a long time.

>>29090318
why does it have to be a van with no shower or sewer system? Having lived in a place with no running water or shower or indoor toilet I can tell you it's miserable. You'll feel disgusting and depressed after a month. Just get a fucking cheap rv.

>>29095726
Again, vans are cucked. If you're going to go all out just get an RV.

>>29097037
If you want a shower, just put one in.
>>29097250
RV is designed by some boomer that won't even use it, for boomers that won't live in it fulltime, so layout and utilities are retarded. Paying rent is what is cucked.

>>29097414
There's nothing wrong with a comfy rv. There's more space and they're almost the same in price if you get an older one rathern than spending a fucking year DIYing a stupid van that you can't even stand up in where you pee in a box under your bed.

>>29097704
You literally just arguing a custom PC that you upgrade as you go along because you're poor vs a prebuilt PC because you're rich and a brainlet, kys.

>>29094016
holy shit lol

>>29097825
I just said I live in a fucking shack with no running water or toilet or shower because I'm poor and you're calling me rich? I would LOVE an rv but a van would barely be an upgrade. Fucking kill yourself.

>>29093868
>SO

Just say girlfriend bro jfc. What are you unsure which gender you'll be dating next month?

>>29097985
Take the suicide pill, kek

>>29093868
GET OFF MY BOARD NORMIE FAGGOT RRREEEEEE

>>29094833
I can guarantee there are mining rigs like this running in government buildings all over the world, and probably some lax private corporations in the closet of the IT room

>>29098178
no u

>>29090318
I'm interested in the truck & trailer combo instead of the van.

Also planet fitness black card subscription fixes your shower/bathroom needs. Plus can lift and get jacked. Perfect compliment to a van lifestyle

>>29089660
We need more common sense in the world anon.

>>29087332
>OP doesn't realize that in 1 year over half of your will effectively disappear thanks to inflation.
>OP doesn't realize that in 1 year 6 months gross income will be equivilant to less than 3 months gross income thanks to inflation.
>OP doesn't realize that crypto will only pump thanks to the massive amounts of fiat being generated thanks to rona' stimulus and in 2 years your burger bucks will have a shorter lifespan than the big macks they can purchase at this very moment.

>>29095726
Rest In Peace Terry A. Davis.

>>29093986
>>29094469
Fucking lol are there people who actually trust insurance companies? wtf I thought that was a meme.

>>29097985
Where do you live anon?

>>29090318
>the 25 year old vannner
>lives on rice and bean diet
>spends rest on stonks, shitcoin pumps, engages in ocassional forex
>free time consists of reading and studying markets, correcting mistakes in TA, looking at multiple different places to park money
>disregards family relationships
>has pictures of well known billionaires to cross out when he makes them broke one day
>could buy several houses but realizes investing game is where the big bucks are made, fuck safe investments, must make bezos and gates seethe
>family asks if doing ok, asks if needs help, just shakes off says things are going ok, doesnt need help, doesnt show a single cent of wealth, schizo paranoid of other people wanting money

itt gambling addict retards get triggered by elementary personal finance

>>29087332
dave does good things for retarded blissfully ignorant goyim.

>>29090318

Where do you shit?

>>29099372
goblinposters get the rope, just so you know

>>29093868
>it helps your relationship with your SO
what a fucking simp KEK

>>29099710
still cute

>>29093584
Can just sell some stocks or whatever, you end up way ahead in the long run.

>>29093315
You can just avoid that easily by only contributing the previous year. That is contribute 2020 now while doing your 2020 taxes. Then do 2021 next year when you do 2021 taxes.

>>29099710

>>29093868
I ain’t got no fuckin emergency fuckin fund!

>>29099670
I second this question where do you shit>>29090318
No way it's all in public restrooms. That's fucking gnarly to imagine.

>>29099710
DIOS MIO

>>29093836
absolutely based

>>29093584
>>29093868

Always have a cash emergency fund. Sometimes you need the cash RIGHT NOW, and don't have time for the insurance check to come in or the stock market to open to sell off stocks.

>>29101796
Really? I'm struggling to imagine a situation that isn't extremely contrived.