/biz/ - Business & Finance

>>55417278
for your age you are doing great. Find a job you love and work another decade to add it to your nest egg. Saving money is a joy without paying. monthly rent

>>55417291
Imagine thinking rent is the only big cost for real adults.

My advice is get a mortgage on a rental, let someone else pay for it. Also buy Bitcoin.

>>55417278
yes
>>55417291
>> a job one loves
fucking retard.

>house paid off at 26
>am i set yet

The fuck are you talking about retard? you have a house paid off at a time when most people your age haven't even got a house, and if they do have a house, its with extreme mortgage pressure constantly stressing them.

The fuck are you even asking you retard.

>>55417308
Idk. Some people on this board seem to say you're not set until you have over 2-3m in investments

>>55417311
they're right. You need more for extra passive income as a buffer in case of something going wrong. Unless you get creative and give a fake name at the E.R. if you break a leg or something

>>55417300
rent is one of the biggest costs. What are you even trying to say?
>>55417302
working isn't fun but its the only way to save serious cash

You need at least $10M to be "set" before you hit your thirties. You should have at least $3M by now, dude. Step it up.

>>55417311
My grandparents retired when they paid off their house in their early 50s

My parents retired when they paid off their house in their early 60s

OP has a paid off house in his mid 20s and you're talking to him like he should be worried LMFAO

>>55417278
>and $600,000 invested in the S&P500

nobody tell him guys

What the fuck is your job????
ANSWER ME RIGHT NOW!
I wan to do it too. I will do anything, to have so much money by 25.

>>55417410
>>55417358
Yes, also take it out of the stockmarket. Stocks are about to free fall.

>>55417278
>payed off
Learn English and you're all set.

>>55417415
600k in the S&P500 is like $60k next year lol

>>55417278
if you already have a house then you have almost half of it done, I guess the next step would be to have enough money to waste, I still have too much to do to have a house, I barely have a OBAYC nft, and I'm about 28 years old

>>55417278
when i was your age i had a couple hundred bucks to my name and the hottest girlfriend i've ever had

>>55417278
You need at least $500k in emergency funds.

something big is coming today, this teams past project hit 12m mcap last month, dont want to spill the beans but its like 12hrs from now

>>55417434
>said the incel on /biz/ since its inception nearly one decade ago

>>55417415
OK, Doomer. Source ?

>>55418359
This

What the fuck is he working to have a (probably close to ) 1 000 000 net worth by 25????

>>55418426
in the before times we would call these people "trust fund babies"
it is not a positive term, in the New World people do not think highly of people with wealth that did precisely nothing but exist to get it

>>55418426
Because this is a classic 2pbtid bot thread
As opposed to the 1pbtid bots, which posts blatant "is coffee good for you" tier bait, the 2-posters will make an OP that is at least semi on-topic and then make exactly one reply ITT about 3-5 posts in to fake engagement.

>>55417311
/biz/ is a greed driven board where the "normal" milestones in life are never enough. Everyone is trying to out-flex each other while they're gambling away on crypto trying to become the next Jeff Bezos or Elon Musk. Having over $500k in investments AND a house fully paid off is insanely good for 26, and you still have plenty of time to make that money grow even more. Don't stress out about it too much, you're doing a lot better than most people your age out there.

>>55417278
take a break
have a travel
go somewhere
do something
enjoy your life
lucky bastard

>>55419278
He got crazy windfall from his family. He’s better off but he’s not doing anything better.

>>55417278
No. You can't retire on that unless you live poverty tier. If you want to live like forest anon forever then yes.

Congrats if legit OP.

>>55417311
With $600k in the S&P you'll make what, like $15k/y in dividends? It's not much but depending on where you live and your lifestyle (single, no kids?) that may be plenty to cover your expenses.

I'd say you're "set" in terms of not needing to worry about saving or investing more, but you'd be smart to work at least part-time to cover your various expenses and let the investments compound into something more significant.

I'm 30 and closing on a house (cash). After that I'll have about ~$700k cash left which is all in 4-week bonds paying ~4.5%. Annualized it's $31,500 which is comfy enough to live on where I am but I'm still planning to keep my job for a while longer. I think $50k/year in passive income is the threshold for really "making it" since you can pretty much live anywhere on that even if you're not living too great. Below $50k/year you have to be frugal in a lot of places.

Either way this is more high level thought, you're in a great spot OP and are set up for long-term success.

>>55417278
You should be worried. That's basically nothing, and can be taken from you on a whim overnight. Ideally you'll need to continue working and compound for 20 more years at least so you can reach a multi millionaire spot and finally breathe easy.

>>55417278
Hahaha, how delusional are you? You'd at least need another $600k house/appartement for collecting rent + 1-3 million in etfs/crypto/bonds to be somewhat average (in high earn individuals). BUT If you're a normie, yes, you have made it.

>>55417278
You should be alright. If you don't fuck up, then the rest of your life should be easy street.

>>55417278
>>55417300
>>55417311
>>55417321
>>55417328
>>55417358
>>55417855
>>55418426
>>55418658
>>55418566
>>55419278
>>55421549
OP that's fucking pathetic, only $600,000 and a fully paid off house at 25? What the fuck have you even been doing. I don't know a single person who didn't have a fully paid off $600,000 house and over $1,000,000 cash net worth by the time they were 14 years old, and at 25, 99% of my friendship group were already onto their second or third private jets to get themselves between their 16 different mansions dotted around the globe. Are you genuinely retarded? Barely $1,000,000 net worth and you're already a quarter of a century old? You're seriously behind bud, a standard goal by the time you're 30 (If you want to be like everyone else that is) is to produce 50% of the GDP of the united states in passive income per year, if you aren't on track for that... Well, quite frankly, you're NGMI.

Sage in all fields btw.