/biz/ - Business & Finance

>>53455946
Yes, I do. It's not your money, be a good son and help them when you can.

>>53455946
>instead of devising something interesting or a cause you could further with 8 figures you just talk about how bored you are
this is what happens when hylics have money

>>53455946
what are his holds? does he manage the money himself or hire someone to do it? can you have him put a million into BBBY or APRN tomorrow? thanks

>>53455946
I live in a northern european country so i've made it since the moment i was born. The only thing motivating me to work is money and social pressure and now it must be the same for you OP.

>>53455946
>father had a 12 million portfolio
>lets you go down the wagie path instead of having the freedom to do something great with your life
id be so mad lmfao

>>53456153
op sounds smart he got his shit together not a wagie. if any 26 yr old was handed millions it would be gone by the time they are 35. ops dad was probably showing him for motivation or letting him know what he will inherit one day. you being mad is why youll never have millions

>>53455946
>moderately wealthy
>12 million dollar portfolio
anon...

>>53456524
based

OP, your dad sounds like a good man. follow in his and your grandfather's footsteps. ask why he waited to tell you this. grow your relationship with him and learn. him telling you this now tells me he has much more to offer you in life, but you must be open and eager to learn/ask unprovoked

>>53455946
You just realized you were born in wealth and that yoz were immensely privileged being born in that family. You also probably believe you graduated thanks to merit and not by having rich educated parents. Be happy that he didnt turn you into one of those low iq degenerate rich kids who have no desire to hustle for something and spend their time partying and doing drugs

>>53455946
I got a big early inheritance from my dad when I was about 20 and I assume that he's about as rich as yours, so I guess I'll get even more in the future. My granddad was, just as yours, even more successful.

I tried really hard to not let it influence my drive & motivation, but in retrospective (I'm in my mid 30s now), it probably has had a big impact. You can never un-know the simple fact that you don't have to care about your retirement.

Some things you might want to think about:
a) There is the saying about family fortune: "The first generation earns it, the second generation keeps it, the third generation wastes it". Don't be that third gen, you will never forgive yourself.
b) While it took away some motivation in my 20s, my family fortune now gives me motivation instead of taking it away. I want to prove that I actually deserve the money. And the only way to prove it is by being successful myself. The only way to be comfortable with my good fortune is to prove that I'd be a millionaire *either way*. Now I work harder than ever.
c) Talk with your dad and learn from him. About life, about money, about responsibility. Millionaires are usually rich because they are smart, even though the jealous and the press tell you otherwise. The most precious thing a rich man can give you is good advice, not his dollars.

shut the fuck up rich bois. you don't deserve shit. inheritance should be illegal if you are true capitalists instead of commies.

When my son graduates high school, we're doing RE right away.

>>53457952
What if they give it to you before they die?
Then it's not inheritance.
Seethe harder.

>>53455946
If it helps your dad's a boomer and he's going to blow it all anyway. Hes just telling you to rub it in your face first.

>>53457970
it's still inheritance commie. work for your money, you lazy.

My dad is rich as fuck but has cheated on and left my mom, fled the country, had new children and isn't giving us a dime kek
It's strange being born in a wealthy home and then having it snatched away upon adulthood while having learned zero life skills

>>53455983
actually they kind of used the national debt and artificial interest rates to make a fair bit more money than normal. Technically they borrowed/destroyed their gradnchildren's economy so they could party.
just saying, but you're fundamentally right

>>53455983
>be a good son and help them when you can.
be useful.
to those who have much, everything will be given.
If you have talent, connections, whatever, use it, be useful, and it will come.

>>53455946
What makes you think you are going to get any of that? He only showed you so he could rub it in your face as he squanders it all on overpriced cruises and beach houses.

>>53457979
This. You won't ever see any of that money. He will reverse mortgage the house on top of that.

>>53458041
Cope and seethe Nigger

>>53458277
shut up commie. work for your money. no handouts.

tell him to buy 1 million dollars worth of vaiot market buy

>>53457970
No point in giving. It’ll be clawed back by the nursing home expenses.

>>53458176
Don't act like you wouldn't have done the same. I hate selfish boomer fucks too but I can't say I'd have done differently if I was in their position.

>>53455946
I got bored with life after I made my first $250,000 OP
Given that and my parents owning two houses I'll be set for retirement, obviously you will too
The trick is to realize that the money in your bank has almost no effect on your actual life once you pass $100k
You'll always have somewhere to live, you'll always need to be engaged in something like work or else you'll go mad, you'll always need to be genuine to make good friends, there will always be higher callings which need answering

The only thing they money does after that point is take away the fear of needing to survive on ramen noodles and live in a shitty neighborhood, not a big deal

Money must not be used for decadence, but to fund truly robust and venerable things (and I'm not talking charity scams)

>>53458041
Roasties are so stupid

>>53458666
>The trick is to realize that the money in your bank has almost no effect on your actual life once you pass $100k
can you have 10/10 escorts and sugar babies coming at your place several times a week? that's what i thought... (and no, it's not decadence, just a basic healthy male routine)

imagine having a rich father
imagine having a father who wasn't a useless drunk
good for you op, you're set for life.

>>53456003
It just means the psychics can thrive off them like predator to prey while pneumatics pave the way, completely detatched.

>>53456524
Correct. I have multiple friends who's parents are very wealthy. Even though they weren't spoiled growing up, the knowledge that they will eventually inherit enough to last a lifetime has meant they cannot hold down a job. Even if you do something you love, there are days when you just feel like quitting and staying in bed, which is what they've ended up doing. They now have major anxiety issues and no direction in life, mostly play video games and smoke weed. Unable to relate to normal people nor the upper class.

>>53455946
>0USD ID
Your father and grandfather lose everything and now the role of a frustrated angry young man falls upon you to reclaim the fortunes your forefathers squandered. It is written in your ID.

>>53455946
>>53455983
Im on a decently similar boat, but my parents are much much poorer than yours. My dad just bought an $800k house to move in with my new stepmom and I just can't find the motivation to work. My dad has never involved me in any of his businesses or taught me shit about finance and I already know Im going to have to work much harder to have the same standard of living as him.

He bought his first house for $200k, the same house is $600k in our neighborhood now.

>>53455946
No, my parents are poor as shit and so do I
I wish I had that kind of money to spend my entire life in
> self studying what I want,
> Buy some house near mountains
> Doing sport 4/7
> Travel once every couple of months
> Eventually a hair transplant if I'm going bold
> Not caring about anything for a single day of my life except for my heath and my family
> Die happy

I'm going to be able to do those when I will be 70 except for the fact that I would be sick or dead because of modern life. Put that in perspective you piece of shit

>>53456524
>if any 26 yr old was handed millions it would be gone by the time they are 35
Wanna bet? faggot.

>>53458480
>but I can't say I'd have done differently if I was in their position.
I would have.
>>53458277
See.
>>53458176

>>53458666
>needing to survive on ramen noodles and live in a shitty neighborhood,
I eat meat and live in a shitty hood, I just wish I had more guns and money.

>>53462100
Holy fuck, tell em to cry more or they can give all that money to me if they dont want it.
Fucking little cunts.

>>53455946
>Anyone else here with moderately wealthy parents bored with life?

Yes but I don't know how much money my parents really have. My mom always tells me that when she and my dad die that I'll never have to work again, but at the same time she's a woman who had been a stay at home mom since I was born and she hasn't worked or paid her own bills since sometime in the 1980s, so I don't really trust her saying that.

My general estimate based on my dad's currently salary (200k) and the fact that he's been putting money in the stock market since early/mid 80s is that his portfolio is worth somewhere between $1 and $10 million, but I really have no idea. If he's worth any more than that I would actually be somewhat upset that he hasn't bought a nicer house or nicer cars etc. My biggest fear is that he'll actually just work straight up until the moment he dies and he'll never actually be able to enjoy the wealth he has accumulated.

Whether that has made me lazy or not, it's hard to say. Fwiw I am lazy, but I think it has to do with other reasons. More than anything I'm just depressed. I was in private schools my whole life, and went to a private Catholic college. My parents (meaning my dad) probably spent somewhere between 200k-500k on my education over the course of my life. And all I have to show for that at 31 years old is a $21/hr job. And that's after I got a promotion from the warehouse position where I was making $18 per hour just a few months ago.

If I could go back in time I would've picked another major in college, but I also can't help but wonder if my lack of success is entirely related to my college major. At the same time, I can't help but think my life would've been better if all of that money that my dad spent on my education, if I had been given that money to invest when I graduated high school in 2009, or even just a fraction of that to buy a couple of small apartment buildings. Not worth worrying about I guess

>>53465559
similar situation to you. my parents shelled out hundreds of thousands for my education even though all the degrees we got have only amounted to low 6 figure jobs like most of my friends have. My parents still have tons of money but are spending it more on themselves now (they just started renovating their home) meanwhile i can hardly make ends meet. alot of people i went to school with are in a similar situation. most of them are high iq too studied maths and engineering and have basic jobs, struggling with a mortgage on a home they just got.

One friend i know has a phd in neuroscience and is moving away to another country (japan) because he has sub 3 moonface and cant get a gf here. like, what kind of society is being formed here where the smartest of our generation are deciding to leave the country just because they cant find a root? if this guy existed 30 years ago he would be married with a kid or two now would have bought a home and be working at some big tech company instead he is leaving the nation for a better life.
>>53465559
> At the same time, I can't help but think my life would've been better if all of that money that my dad spent on my education, if I had been given that money to invest when I graduated high school in 2009, or even just a fraction of that to buy a couple of small apartment buildings. Not worth worrying about I guess
i dont know but i knew school was all bs ever since i was a kid and have been investing since highschool, i told my dad what you just described when i was like 13 and he laughed in my face. Honestly at this point i am probably going to cut ties with my parents and form my own life somewhere else with my bag from crypto. i dont care about them anymore im just so done with everything and all the lies that were force fed to us as children. i seriously think our entire generation is doomed and very few will make it out.

>>53465559
Some parents work they're ass off so that their children don't have to. They won't tell you this either (as this will oblige you when you're too young to deal with that fact).

You say he might die never knowing any joy from his wealth, but he has likely been doing so good whole life if he has been able to have his wife not work, send his kids to expensive schools to give them a chance at success (and stay away from trash people), etc.

Her might also he happy knowing that whatever you do, you'll be fine with money. Just make your life what you want, no need to hustle to get ahead. There is comfort for that in a motivated man.

So now it's up to you. Do you squander this by working dead end jobs and feeling sorry for yourself? Or do you just do something to change your situation and make your family proud of you?

>>53455946
only 12 million? thats like a single yacht, a couple luxury cars and a year of women and drugs MAXIMUM. Tell your smoothbrain lazy father to work harder

>>53455946 (OP)

OP make sure that your parents have a solid estate management plan - the federal exemption for the estate tax is ~$12M. Anything that you inherit over that you have to pay income tax on (~40%). Your dad should be giftmaxxing and probably setting up GRATs for his kids / next of kin. Don't let big gubmint fuck you for millions when he dies.

>>53466059
>even though all the degrees we got have only amounted to low 6 figure jobs like most of my friends have
>meanwhile i can hardly make ends meet

genuinely can't tell if you're trolling or not. I make like 42k per year and after taxes take home about 35k. I really don't have a problem renting a 1 bedroom apartment in the city and going to bars/restauranst/concerts with my friends whenever I want to. I understand I live in a low cost of living area but the idea that you're making 6 figures and still struggling is just insane and/or laughable to me. I assume you must be really bad at managing your money if that's the case. Then again, most people I know who have more money (except for 1 friend who works in finance) simply end up spending more. My best friend is a truck driver who makes more than twice what I make (low 6 figs) and he's about to spend 80k on a new luxury car.

I hate to sound like a faggot here but if you're making low 6 figs you are in a vastly superior position to me, and you really shouldn't be comparing your situation to mine

>>53466178
>So now it's up to you. Do you squander this by working dead end jobs and feeling sorry for yourself? Or do you just do something to change your situation and make your family proud of you?

Yeah, I thought getting the degree would allow me to get a job that I loved doing work that would make my family proud of me. Since that hasn't happened, and seems like it won't happen, I don't know what to do. I think I have some kind of mental illness and I've been paralyzed with indecision since I graduated really. I will never be a normal person. I am always the weird/eccentric guy at work and even when I do good work and get praise from managers I never really feel like I "fit in". And then on the flip side when I hang out with artists or creative types and other weird people I don't fit in with them either since I've worked normie jobs since college and I'm really not as weird or eccentric as they are.

>>53456598
Fuck that. ‘Learning’ from your faggot boomer dad is cringe as fuck. everything he knows was how to scam in another life time. Useless info, your dad is a narcissist and was bragging about his wealth, not sharing anything including ‘knowledge’ never talk to him again. You don’t need someone like this in your life.