/biz/ - Business & Finance

Because if you don't explain it, it sounds like humblebragging (and basically is).

>>30123260
Kek humblebragging. Most Americans don’t even have 1k in their bank account

how do i get from 5 to 6 figure hell right now please

We are animals; if you don’t engage in hedonism or pleasure you are the real loser. Everything else is a spook. Saving 500k and eating beans is a mental disorder, fortunately these types of people do not reproduce

>>30123368
this, please.
not that I don't already know. I'm in high 5 figure inferno, i just need my main hold to 2x or my small holds to 5x

>>30123368
I well tell u this secret once only: all-in ronapuppers.io

>>30123790
this

>>30123790

Just trying to get to the point where my stack is fat enough to live lavishly off the safe yearly withdrawal rate

>>30123368
Buy dragon anon it’s about to pull a 10x
Dev locked liquidity forever.
Out less than 48 hours, you’re early.
https://www.coingecko.com/en/coins/dragon-finance

>>30123334
That is because we keep it all in hard assets like snicker bars and pringles.

>>30123368
Buy BAT and wait a year tops

>>30122995
Because not everybody lives in the US where the cost of living is extremely high compared to most of the world.

All you need realistically to comfily retire in most developing countries is like 200-500k depending on the quality of life you want, getting 5-10% returns on lending via things like AAVE or Blockfi.

Enjoy getting cucked by foids in the US who want chad only.

meanwhile others outside of the US get to creampie non stop.

>>30123977
This

>>30122995
if you can't make 100% returns annually then you should just rope desu.

>>30123260
how do I brag, when they are the one getting money? I'm just a normal software wagie

>>30123368
I rather have like 55k in the bank knowing i can spend on whatever unexpected thing might come and buy nice things for my wife, than having 650k and realizing even th ough its 10x more I forever be a wagie

>>30123368
>>30123791
A job is the easiest way to get to 100K. The easiest way out of 6 fig hell is to trade with money from your job instead of your allowance.

>>30122995

CLF take me out 6 figure hell

>>30123997

I don't know how expensive life is in the US, but as a EUfag I don't even have 20k in my account and I live pretty comfortably,
By that I mean that I snort high quality fishscale, even have some extra supply for girls, order anything I want to eat, party often, buy designer clothes, and I don't wage or work.

>>30123977
BAT True Share or BAT True Dollar?

What I have learned is that wealth is primarily a mindset. You have to break the conditioning and the limits that are imposed on you by society. you have to start treating investing like multiples of your networth and not expect it to be slow and steady percentages per year. You make it by concentrating your money into assets and technologies that you know are undervalued/will grow dramatically. then, you need to be able to stomach losing 60% of your money before your investment pays off. Finally, you need to be able to hold and not sell off everything as soon as you make a meek 30% or even 100 %. This is the main difference between normies and people who make it, not chasing immediate gains and being satisfied by small profits, but instead risking it all and persevering until the world aligns with your expectations.

>>30123790
Keep believing this retard, even with centuries of evidence that is contrary

>>30123887
4% isn't safe btw
2% is what you want as a target because that's the inflation expectation. If you eat more than that you are risking it, simple as

>>30124645
you have like 1 year of rent grats... I guess?

>>30123368
Bump. These ungrateful cunts humblebrag about having half a million but never want to help newfags make it. I’ve been stuck at $25k for weeks ($4k initial, started in September)

>>30126989
The vast majority of them are larping.

>>30123368
What the hell? Easiest shit ever if you have high 5 figures. Invest in 3-4 solid crypto projects. No AVAX, XRP, ADA etc. bullshit. Leave this place and DYOR. Wait till December and sell everything. You are a millionaire now.

>>30127223
I can promise you if you wait until December you'll be worth 5 figures. If you wait until late summer you'll probably be 6 figures, maybe 7 if you're lucky.

>>30122995
You could drop dead right after reading this post and that $100k will have meant nothing.

>>30126989
If you are all in Link, which you shouldn’t be anyway, take 60% of that stack and swing it into shitcoins. Do that a few times and grow your stack then dump it back into link

>>30125973
Safe withdrawal is actually 7+%
https://www.youtube.com/watch?v=GaHrHTELJ2A

>>30129717
Long-term return on stocks is 7% stupid niggerf

>>30130149
And? You don't want to have any money in your bank account by the time you die or it is just wasted.

>>30130339
lmfao you are fucking stupid you put it in a trust that pays out equal dividends to your heirs so that they are encouraged to have children, spreading your seed far and wide.

>>30130424
I used to think that, but this world is fucked, dude. Inheritance as a concept might be wiped form the face of the earth by the time I die.

>>30130578
If you don't have heirs by all means blow it on thai ladyboys but with gene therapy it's possible life extension technology matures in our lifetime, meaning if you didn't save properly you will be priced out

>>30123791
mid 5 fig hell crab, it's horrible

>>30130727
Even if you have offspring things are trending in the direction where passing on wealth will be made illegal, or completely useless.

>life extension technology
I've been thinking about this, but I don't think I'll make it in time for that. Obviously if I can do less than 7% on my bankroll once I retire I will, but I've loosened my expectations because things aren't looking good for the future in general.

>>30129717
I'd love your take on my "retirement plan" fren:

- Assuming i'll make 300-600k this bullrun
- Take 240-360k and "stake/lend" it as USDC on AAVE, putting the rest into BTC and a small portion into blue chip ALTs.
- From the yearly AAVE gains, i'd take 12k+ each year to use that, to live on a 1k+ budget in SEA ( i have no issue living on such a low budget ( at a minimum)

>>30131128
I'd say that before you plan to live your life in a low cost of living country that you actually spend some time there if you haven't already. There are basic amenities afforded to you in america that just aren't available in even "first world" countries, let alone south east asian countries.

>>30131334
I have been there for some longer periods twice already. I am fully aware on what kind of niceities and amenities one can afford at 1k, 1.5k and at 2k in the country i wanna "retire" in.

The idea is to make sure that i'll have at least 1k per month. 1.5k is actually what i aim at but i realize i need to make sure that in a "worst case" kinda scenario i'll at least get 1k per month out of my passive income source.

Thank you for replying btw, i'd love to hear some more input and alternatives or things you would do differently in my shoes with the goals that i have.

>>30125311
>What I have learned is that wealth is primarily a mindset. You have to break the conditioning and the limits that are imposed on you by society. you have to start treating investing like multiples of your networth and not expect it to be slow and steady percentages per year. You make it by concentrating your money into assets and technologies that you know are undervalued/will grow dramatically. then, you need to be able to stomach losing 60% of your money before your investment pays off. Finally, you need to be able to hold and not sell off everything as soon as you make a meek 30% or even 100 %. This is the main difference between normies and people who make it, not chasing immediate gains and being satisfied by small profits, but instead risking it all and persevering until the world aligns with your expectations

This is one of the best posts I ever read in here. I am just on the cusp of making it and agree 100%.

>>30131645
I'd be seriously worried about the money flow for crypto, and you presumably being a non-citizen of these countries. Would you be using American exchanges then converting to usd, then to your new countries currency? What kind of regulations could come up that fuck you over (either in america or your SEA country), if any? If crypto becomes taxable will you be paying taxes on it twice, because you usually need an american id for american crypto brokerages, so you might get tracked and taxed there, and then again in your SEA country (in the future when regulation hits everywhere).

>>30123368
this is me, thanks for all the replies
i only have $15k, my portfolio is this:

XRP - 40%
BCH - 40%
ETC - 5%
EOS - 5%
HBAR - 5%
ZEC - 5%


My thinking is that theres no point buying the top of a green candle, smarter to accumulate the coins that are low but are still on Coinbase, on Robinhood, have Grayscale trusts etc.
No bully pls i just want to make it like everyone else

>>30123977
more like how to get from 5 figures to 4

Because they can’t think further than "muh shows" and whatever product they last saw on Instagram.

>>30125032
What? Basic attention token, the one associated with brave browser.

>>30124464
imagine thinking software engineers aren't normalfags
not only you're a wagie but you're the most normie type of wagie

>>30132732
This is unironically the worst portfolio I have ever seen on /biz/ and I have been here since 2016.
It’s like you bought every off brand shitcoin and scam in the 2017 bull run graveyard.
Questions:
- Where do you get your crypto info from?
- How long have you been on /biz/?
I am really interested, because I don’t know think I could invest in this many dead ends if I tried my hardest. I’m curious about how you get in such a situation.

>>30132732
If you want to make it to 6 figs, sell all of your BCH & ETC and move that to HBAR

>>30125311

survivor's bias. Other 99,9% who used this strategy didn't make it.

24
>40k net worth
>no marketable skills or job

I make 5 digits and merely ponder buying a new 3 figure watch.

>>30132732
holy shit this portfolio

>>30133364
I explained my basic thought process. There is no point buying every massive green candle like ADA, ETH, GRT etc. Buy low, sell high. In an altseason everything seems to pump, I dont see any reason why XRP and BCH wont pump also. They are miles from their former ATH so they have the most % gains to offer. Its possible that the others (ZEC,EOS,ETC) dont pump but its only 5% each of my folio so whatever.
>>30133595
Im thinking about upping my % of HBAR but its already up 4x from January

>>30123334
>Most Americans don’t even have 1k in their bank account
>bank account
>bank
Anon, that's because everyone is invested in DOGE and TESLA. You would be a fool to have your net worth sitting in a bank.

>>30133862
So... you buy coins that don’t perform well?

>>30125311
Holy shit this whole experience describes me to a T with Fantom And Link.

>t. Retard who already ‘made it’ by Biz standards.

>>30123997
Top countries to do this?

Different degrees of 6 figure hell, frens. I'm on the cusp of getting into 7 figure territory. At most, I'll hit maybe $4-5M total in crypto at top of this bull run. Which I can't do shit with in coastal commiefornia. Means I can't quit my wagie cagie sales engineer job anytime soon. It's a fucking hamster wheel I tell ya.

>>30133965
Obviously I do think they will do well. Why would I buy top performing coins like ADA when they are already up 60x this year? Just asking to get Bogged surely

>>30134097
Drop 2 million of that in a low risk bond acc getting 5% APY per year thats $100k a year for free plus $3mil on the side how the fuck can you not retire off that

>>30132034
I'm not American and for me personally since i am leaving my own country for good, i am not taxable as i have no business and no properties in my home country.

My idea will be to get a local bank account and then use these new online services that can exchange crypto for you and then send those funds in FIAT to the local bank account.

So taxes and cash flow shouldn't be an issue in my particular case.

Other than the previous points, do you have any other things on mind that i should be aware of ?

Is my plan sound, in general ?

>>30122995

>>30134661
I don't know much about SEA, fren. Personally I'd be worried that I'd have no buffer, because if something goes wrong (like medical) there is really no where else to go because you are putting yourself at the bottom of the chain.

>>30134211
Why would you even think to consider ADA for a single second, but skip over the actual good coins shilled on /biz/.
You really zero in on the worst possible coins.
Please tell me where you do your research. Facebook? YouTube? Discord?
>>30134555
Thats poverty tier in costal California.
You will be laughed out of the Bay Area.

>>30122995
majority of americans can't conceive of having 100k in and form of assets, its just not in the cards on any level.
the entire us economy is a total facade, its 100% built on debt, just owe more! its fine!
somehow it keeps on lurching along, i don't get it, yet there it is.

>>30134555
>low risk bond acc getting 5% APY
Hmm any specific bond recommendations?

>>30122995
if you can’t make hay with $100k you are a total retard.

>>30135229
>Thats poverty tier in costal California.
>You will be laughed out of the Bay Area.
Sad but true. Need at least $10M to safely retire here.

>>30135228
Healthcare is very affordable in SEA but yes one needs to have cash on hand for medical emergencies, which is why i will make sure to have like 20k+ USD in liquid funds / cash ready to go !

2 figure hell peasants report in

worst part for those not deep into 7 figures is crypto is ending its massive growth cycle. it cant do much more than 10-20x at these inflated prices, absolute maximum.

>>30134661
>>30135228
Also I don't like living in places that don't have garbage disposals. My standards are pretty high. For reference I know even tier 2 and tier 3 cities in china are complete hellscapes even though economically on paper they shouldn't be. Many of the people that live in these cities in asia had parents who weren't even literate, so a lot of what goes on there is pretty backwards even for a city. I think NYC is disgusting so by proxy a SEA city would probably horrify me.

>>30135620
>Healthcare is very affordable in SEA
But it's also considerably worse.

>>30135632
reporting for duty

>>30135539
You’ll definitely crack 10 mil next halving, anon. Ygmi.

Normies still think 1 million dollars is a lot because they grew up watching Who Wants to be a Millionaire and gambling on stupid scratch and win pieces of paper.

>>30122995
6 figure hell is real, but did you try the 7 figure post-apocalypse? You can't even make a living buying treasuries with 7 figures.

>>30135434
Unfortunately not but I dont think they are particularly hard to find. If you are willing to take on more risk you can get 7,9,12% etc. Could also hire wealth management or get a boomer stock index portfolio. Honestly once you have money its so easy to make more. Getting there is the hard part.

>>30134097
I'm in a similar boat, but think $4m is enough to never have to work again. Why not just move to a low cost of living area?

>>30123790
A penny saved is a penny earned you retard

>>30134555

where the hell are you finding a "low risk" bond fund paying out 5%

also you'll get fucked hard on taxes if that's corporate debt and such

checkout the ben felix model portfolio, that'll be your most realistic bet into getting an evidence based, risk adjusted portfolio that should net 5-8% gains over a longer period of time while only experiencing like a 5-8% drop for its worst year.

That basically gives you a lot more wiggle room if you come across any opportunities (or fuckery) where you don't want to be in a position to 80-100% allocated equities at a loss

>>30136166

likewise, if you are in an opposite position where maybe you don't have the largest amount of capital on hand, but are growing your income through career progression or skills you can find that you're in a good position to make minimum payments on debts under 4% and basically arbitrage the difference with a portfolio like this

>>30126989
congrats anon, I started aroun that time with 800 dollars and I'm just around 3k now

>>30135539
So don't retire there? Bay area sucks ass, the only reason anyone would ever want to live there is to be a software wagie. Why would that matter if you're retiring? You don't even need to run off to rural Alabama or anything, there's lower cost of living areas still in CA itself, hell even near the bay area, where you could live off the returns of 5 mil and still be able to periodically take a weekend in the city if you wanted.

God I hate San Francisco so fucking much, literally the only worse city in the country is DC.

>>30136097
>Honestly once you have money its so easy to make more. Getting there is the hard part.
No it’s not.
You’re just saying that because you need an excuse for being poor.
If your yearly salary can make an appreciable difference to your wealth, you’re still on easy mode.
If you can make meaningful sized trades in low liquidity markets, you’re still on easy mode.
If you’re paying less than 30% tax on your profits, you’re still on easy mode.
It takes VASTLY more stomach constitution to bet 100k than 10k, yet you’ll need to do it if you want to make it.

I just want 100k€ to finish the house payment and be done, don't need more

>>30137316
>just 100k€
That's a fuck ton.

6 figures of USD is a lot of money. Period. just because you can't retire on it in your 20s doesn't mean it isn't a lot of money. the "hell" meme is nothing more than humblebragging, which obviously annoys some people

>>30136097
>>30136905
>i only have $15k
>Honestly once you have money its so easy to make more. Getting there is the hard part.
Your portfolio is $15k how would you know it’s "easy" to make money once you’ve made it?
A teenager could work 5 months at an Amazon warehouse and have your entire portfolio. That’s the definition of easy.

>>30137591
100k is enough to open small company. If you are hard worker then you definitely won't lose it

>>30124520
Ngmi

>>30137591
Read:
>>30136905
>>30137874
It gets actively harder and it’s a long, long way back up if you fall.

>>30135890
>You’ll definitely crack 10 mil next halving, anon. Ygmi.
Thanks fren, I sure hope so. Means another 3 years of waging, but there's no free lunch. >>30136166
>checkout the ben felix model portfolio
Thank you for the recommendation, fren, will check this out. I've been all in on high risk assets last few years, trying to escape the wage cage. I'll gonna help grokking how to keep the wealth once I finally get there.

>>30138075
I think you mean, probably will lose it but are less likely not to lose it

>>30135485
pretty much, idk how it's possible to be so financially illiterate especially if they know about crypto and stocks. They should just give it all away to charity and rope.

>>30122995
>and that their 100k stock bonus maybe is enough for a fancy Bora Bora travel and a new Corvette ?
Because they cant understand that you can actually make it from investments. They think you only make it from your salary. Its why they think the billionaires literally get paid that as a salary when some article mentions how much Bezos "made" in a day. Any gains off of investments to them is just side money for trips, gifts and vacations.

>>30123368
Patience and time, invest in solid projects with good teams and the gains will come, you’re not going from 5figs to 6figs overnight you spastic cunt

>>30136905
I think what he means is it's vastly easier to make the amounts of money you were making before you were rich. Once you have enough you can now make your yearly salary from relatively safe investments rather than working.

>>30139597
>solid projects
His portfolio, I hope you haven’t eaten lunch yet >>30132732

>>30139751
>>30132732
>40% XRP
>40% BCH
Fucking lel

>>30139597
>Patience and time
Thank you for reminding me. I won't sell. I will sit on my GRT and BAT bags until I make it.

>>30122995
If you don’t want to interact with the normies, there is a 200k+ biz discord, check archives for a working inv link.

>>30140694
>BAT
Nice, I just read Brave bought a search engine and will offer it as a paid service without tracking, which I would definitely pay for.

>>30135229
>Why would you even think to consider ADA for a single second, but skip over the actual good coins shilled on /biz/.
The reason is the same for XRP.
Good marketing team active on platforms where lowest common denominators investing in crypto are present.
Tourists don’t realize that they need to lurk a lot to gain that /biz/ insight where you subconsciously can differentiate between a genuine autist shilling, a marketing team shilling and a pajeet army shilling.

>>30141340
Truth

>>30135539
Then move somewhere else? Why would you want to live there anyway?

>>30123887
You’ll never have enough and yes it is a mental disorder.

>>30125312
No, centuries of evidence points to the fact that everyone dies within 100 years and our time to enjoy life is extremely limited. Inflicting self-abuse by consuming cheap, unhealthy, processed foods in order to save a few bucks every week is absolutely a mental disorder.

Part of me wants to take some profits from my gains in the last year now that I hit long term capital gains.

But it wouldn't amount to anything. It would maybe be enough to buy something I don't need like a truck. I don't have enough (yet) to compete in the housing market. I have a job so I don't need money for expenses or stupid shit.

So I just sit there and look at my portfolio and wait. And wait.

I don't think I have become a money hoarder, I think I am being realistic. A middle class person doesn't get many chances to make major jumps like owning property outright. So something like a bit of extra income means NOTHING to me at all. I haven't cared about my salary once it stopped getting tight trying to pay rent and that was years ago.

>>30142419
If you’re working with mid five fig stack and above, it’s always good idea to ladder your sells. You’ll never time the tops and bottoms perfectly.

>>30123790
Engaging in hedonism is a spook too you moron, imagine being a slave to pleasure, ngmi
At the same time most people here as slaves to money so I guess you ain't that different but it doesn't change my point

>>30123260
>>30122995
>>30124464
Here OP, I wrote a handy def on Urban Dictionary:

https://www.urbandictionary.com/define.php?term=Six%20Figure%20Hell

>>30142597
Can you explain what you mean? I honestly have no clue how to take profits from investments. Thus far my experience has been a 401k and now crypto in the last year. I have 5x'd my investment as of right now. But I just have this all or nothing mindset, I don't want to "miss" any jumps in the market. What would the money do in my bank account besides me looking at it?

I guess I should start with taking my principle back out, to put myself at a realized net zero (that is, I am covered with the absolute worst case of the crypto market imploded and went to $0)?

>>30133364
I agree that's a very shitty portfolio. BCH?? And fucking ripple???

>>30141916
>Then move somewhere else? Why would you want to live there anyway?
All my family and friends are here. I recognize this may sound trivial, but I've lived abroad and in different U.S. cities, and there is nothing like being surrounded by family and friends. No matter how fucking commie this place is becoming.

>>30122995
They have not considered how quick it is to go from 1->2, 2->3, and 3-4 then how it staggers a little going from 4->5 and even more from 5->6 figures. Anyone who has done it understands that eventually the wealth is on a scale far beyond any single payday and now the money needs to make more money for you.

>>30123368
change your balance to six figures
You're welcome.

>>30125973
>4% isn't safe btw
prove it pls
I was counting on 4 and it seemed too conservative desu

>>30125311
Well said, there's a lot of truth to this.

>>30122995
kek normies get upset when you mention that 6 figure hell is real.
But nothing triggers low IQ biztards as much as when you tell them 7 figure hell is real and you didn't do anything except buy link in 2018 to be in it

>>30123790
>Saving 500k and eating beans is a mental disorder
joke on you nigger I have 3.2 million $ in chainlink and I just had a liter of milk and a shit ton of noodles to reach my macros for the day (>inb4 falling for the SS+GOMAD meme, it's not a meme)

>>30126989
Load up on BUIDL. It's literally all you have to do.

>>30140826
>discord
Not touching the tranny platform

>>30132732
confirming that this is a comically bad portfolio, it looks like it was constructed as larp bait it's so foolish. if you haven't realized yet, your investment strategy is flawed. you either need to
>learn a lot more
>do exactly as smart people tell you (if you can even identify whose the smart one)
learn more, learn more, learn more. in the meantime, buy 1k BNT, stake it in either the LINK/ETH/wBTC pools, and put the rest of your money into LINK, and then keep learning x 100.

>>30146505
https://www.youtube.com/watch?v=z7rH7h7ljHg