/biz/ - Business & Finance

>>57019108
You forgot the part where if you don't own a home then you can either inject jewish suicide juice into your arm or lose your job. Home ownership, though a near-impossibility for milennials, is a pre-requisite for even the most conservative "make-it" strategies, including the one you've proposed.

>>57019126
>You forgot the part where if you don't own a home then you can either inject jewish suicide juice into your arm or lose your job. Home ownership, though a near-impossibility for milennials, is a pre-requisite for even the most conservative "make-it" strategies, including the one you've proposed.

Nope, buying or owning a house is the absolute dumbest thing you can do for building wealth. It's a liability, not an asset.

You need to be rich to buy a house, but once you buy a house, say bye bye, it's the largest money sink ever.

>>57019108
ok boomer.

>>57019135
I'm 23 years old

>>57019108
I already do this and it takes too long

>>57019140
Right, now do the math with an average income. Make sure you adjust for inflation.

>>57019108
SP500 investing only makes sense if you have long term confidence in the USD, which I don't. Watch videos of blacks looting stores and stealing backpacks out of peoples cars while they are stopped at red lights and ask yourself if america can continue to attract knowledge workers if nobody is kept safe.

This is what I think about. Forget about government spending and inflation. Just ask yourself this: can americas companies that make up the SP500 continue to attract foreign talent if america is turning into a lawless country

>>57019172
I've done that many times before, we're paid a lot more now than in the 1950s. The amount of time it took people in the 1950s to buy a fridge, a stove, couches, etc... were a lot more relative to today.

>>57019209
>Watch videos of blacks looting stores and stealing backpacks out of peoples cars while they are stopped at red lights and ask yourself if america can continue to attract knowledge workers if nobody is kept safe.

Everyone is safe, crime is lower than it ever was before, all time low, just because we have more videocameras doesn't mean it's not safe.

> Just ask yourself this: can americas companies that make up the SP500 continue to attract foreign talent if america is turning into a lawless country

America is more lawful and orderly than any time in history.

>>57019212
Post the numbers

>>57019108
>just get a job xD xD
Nice troll post. Here's how you should actually make it (if you're young):
>get a job
>keep your expenses as low as possible
>get outta bad debt (credit cards, etc)
>start making passive income (there are a million ways to do this)
>put free money into Crypto (only do this if you are young and can take risk)
>put profits into s&p 500

>>57019209
that's why I invest in gold. SP500 investing is investing in companies knowing that the CEO can be killed for his cellphone, the media will cover it up, and the killer knows they won't get punished. How can an advanced economy continue in such a state? That's why I think skilled workers will migrate more to the middle east, Russia, and parts of east Asia.

>>57019218
>safer than ever.

We all know your CIA propaganda position but the whole world can see videos of gas station shootouts, looting, store walkouts by addicts, and various other types of mayhem.

>>57019243
Anecdotal fallacy, during the 1920s you had much more of that going on and the economy grew extremely fast.

>>57019243
Also,

>"can America attract foreign workers"

Literally anybody aged 20-25 would slash their nuts off for a chance to work in America. I would personally cut my legs off for an American greencard.

>>57019250
Detroit was still a functioning city in 1920 and now looks like it was carpet bombed. I'm just saying that people outside america are not delusional about the security situation in america.

>>57019267
Ok, they still all want to move to America.

>>57019259
what country are you from?

>>57019279
Canada, I HATE it here but accepted it's my fate.

>>57019270
you sound like an American yourself and not a foreigner that wants a green card.

>>57019131
great financial advice mongoloid

>>57019259
Fuck no, i dont even want to visit it for tourism let alone live or work there

>>57019288
why do your other posts talk about "we Americans" if you're Canadian?

>>57019293
I'm Canadian and have been trying to get American internships since I was in second year.

>>57019295
Yeah sure, totally not a bubble! TOTALLY

>>57019250
>things are safer and more prosperous than ever!
No, they're not. Crime is very high, and we're seeing corruption not seen since the Gilded Age. You can live in your dream world all you'd like, but these are tough times.
>t. former law enforcement

>>57019313
why pretend to be American on the internet if you're Canadian?

>>57019303
It's the only place I can feel happy. I've been to Europe, I live in Canada, and I hate being here, I feel gross just existing.

>>57019307
When did I ever say "we Americans"?

And if I did say that, it's because we view ourselves as Americans, and we effectively are, we just don't have the freedom or human rights that they have.

>>57019131
This just isn't true. It needs maintenance, sure. But don't buy a dilapidated shithole amd do the minimum to keep it going. The key is to not spend loads on a mortgage and get roped in to bigger and bigger mortgages. Live within your means (actually live below them). Once your mortgage is paid, everything you do is out of choice and not at the barrel of a gun. Whether you believe it or not, it buys you your freedom.

>>57019322
>Everyone is safe, crime is lower than it ever was before, all time low, just because WE have more videocameras doesn't mean it's not safe.

>>57019323
You will never "live within your means" if you buy a house. You will never afford enough to get a mortgage unless you're rich to begin with.

just buy upro

>>57019356
I own a house. I bought it in 2018 in AZ
>built in 2007
>updated and in good shape
>1900 sq ft
>closed for 175k
>put 40k down
>monthly mortgage of 700$ a month
I make 70k a year. I'm not rich, and I did it. How do you explain that, faggot?

>>57019398
>I make 70k a year
>I'm not rich

Even that aside, I spoke to my banker, they said I'd need 600k down for a house, because the cheapest one is 850k and they'll max loan me 250k for a mortgage.

>>57019413
Bro, 70k is not rich. Not even remotely. It's lower middle class, especially in this economy.
>600k for a house
Where the fuck do you live? Singapore?
But here, you'd need about 100k for a decent house -- that's around 20% for a 450k house. That is outside of most first-time home buyers' budget, for sure, but it's not 600k. I'm genuinely confused by you. How old are you? Do you have a job? What sector? How is 70k a lot to you? Many of my peers are making 6 figures.

>>57019413
Just buy a caravan/static home then. Any accommodation, it really doesn't matter. At least they can't take that from you and you aren't at the whim of landlords etc. I know the US is a bit different as you have property taxes and stuff, but still.

>>57019476
>Bro, 70k is not rich. Not even remotely. It's lower middle class, especially in this economy.

70k is absolutely rich, especially in todays economy. I'm rich myself and I make less than that. I make 55k.

>Where the fuck do you live? Singapore?

Canada.

>But here, you'd need about 100k for a decent house -- that's around 20% for a 450k house

I've never seen a house, even a townhouse, offered for less than 850k. My goal is to one day buy a townhouse, and they'll likely be 950k by the time I buy them.

>I'm genuinely confused by you. How old are you?

23 years old

>do you have a job

I work in finance for an investment bank

>How is 70k a lot to you?

Because it objectively is

>Many of my peers are making 6 figures.

I only know one other person who makes over 55k, and he works in software. Everyone else I know makes around 30k and they're also finance graduates.

>>57019503
Pay it off quick, use the interest savings to invest and have a larger monthly income. If you want to move to somewhere better, save up and cash buy. In the UK that means you don't pay stamp duty etc.

>>57019108
IT'S ALWAYS THE BOOMER NIGGERS SAYING THIS

>>57019509
>70k objectively is rich
It is not.
>I live in Canada
That makes a lot more sense.
>I'm 23
Making 50k a year at 23 is actually pretty decent. You should be proud of yourself. I don't know your Canadian markets, but only a fool would buy right now, practically anywhere in the world. If you get a large windfall and can buy a house cash, I'd do it, but not at this interest rate would I ever consider a loan.

>>57019209
>america will collapse any day now

How’s the weather in Moscow Dmitri?

Idk what your definition of RICH is but you are wrong. The only real way to get rich is starting a business that's scalable and have it go big. This requires funding from VCs and a lot of paperwork.

>>57019232
>skilled workers will migrate to Russia

Hahahahahahahahahaha

25 I make 150k a year and spend every single penny.

>>57019594
>he's right
That is A WAY to get rich reliably. The more unreliable methods:
>gambling
>crypto gambling
>creating a decent scam (you'll probably go to jail)
>finding a niche for passive income and filling it (I write technical manuals and publish them on Amazon)
>investing intelligently (this is hard because the markets are fucking borked)
>marrying into money
>OTR truck driving (you live in your truck and make roughly 100k a year, with which you should invest almost all of it for 5-10 years)
>save around 200k and move to a 3rd world country (wealth is relative)

>>57019108
What's the timeline for this plan?

>>57019567
I didn't mean now, I plan to buy a townhouse in 2035 when I've saved up more capital and hopefully interest rates and price are more aligned.

But thank you friend I do appreciate the compliments.

>>57019681
Ideally anytime before I die. So 2080 is what im going for. I want to die with as much money as possible.

>>57019108
This is going to take me 10 years to actually save up 160k in order to put 100k into the market and 60k as an emergency fund.

This is not how to get rich. This is what you should be doing anyways, and then working ok creating some product or service on the side that you can eventually cash out or be able to hire other people to labor for you.

>>57019220
no, go find them. my work is done here.

like this.

>>57020181
10 years is nothing

My plan is 16 years now.

>This is not how to get rich. This is what you should be doing anyways, and then working ok creating some product or service on the side that you can eventually cash out or be able to hire other people to labor for you.

This is how you get rich.

>>57019108
>just save $60k bro
yeah man it'll only take years.

>>57020318
how much to invest to get 50k in annual income

>>57019108
Bro I can't get a job, nobody will hire m

>>57019259
Lol. Lmao.

I have about 200 a month to invest after all bills are paid, sometimes less, I might be alright by the time I'm 150 if I did this.

Of course it will all seem so simple if you are lucky enough to be able to put big bucks away like this >>57019108 . This isn't anything other than the absolute fucking obvious.

>>57020404
You honestly need to make at least $50-60k in this country in order to have realistic plans of retiring and securing your legacy

>>57020362
>>>57020318
>how much to invest to get 50k in annual income
1.4mm
i'm at 700k
current div yield is around 3%
portfolio 80% VYM 20% VT

>>57020339
It's supposed to take 10-15 years.

>>57020362
About 600k, dividend yields are 7% right now.

>>57020413
Here's a solution, don't retire. Embrace work as your life purpose.

>>57020421
>About 600k, dividend yields are 7% right now.
if you're young, you'll want to be in dividend growth which have yields around 3-4%, ex SCHD, VYM, etc

>>57019108
It's genuinely so easy. Do the folks here who buy crypto actually keep track of how much money you invest? Do you ever compare your returns to the SP500?

>>57020445
Yes, in the past year my BTC is up over 100%, and in total many hundreds of percents, even thousands of percents.

>>57020442
I don't plan to have that kind of money until I'm 75-80

>>57019108
>USD crashes (temporarily we are gods)
>...

>>57020486
I would say it's pointless because you'll be crapping your pants by that time but the truth is as long as you're alive you're gonna need money.

>>57019108
Nigger, its not about becoming rich when you are 50.

>>57019212
Now do a car and a home, you fucking fag.

>>57019313
>I'm Canadian
Thanks for outing yourself, it saves everyone a lot of time.

>>57019212
>The amount of time it took people in the 1950s to buy a fridge, a stove, couches, etc... were a lot more relative to today.
probably because it was one man working and supporting an entire family on his wages, but congrats, we now live in a day and age where two people working can get a fridge faster but can barely support a family or buy a home.

>>57020591
Agreed, it's about becoming rich when I'm 75.

>>57020597
Don't buy a car or house retard. Problem solved.

>>57019209
Actually, that's bullish. As long as we all get to stop obeying the laws as well. We all know overregulation and 3 letter agencies are killing this country. There are so many laws now that you can't even breath without breaking one of them, Right now anyone can use the threat of government force to make your life a living hell for years, because of bloated and selectively enforced laws. Extremely bullish if all regulation goes away and we look after ourselves again (from a local vigilante group for protection for example, or pool money to hire a cop and give him a mandate to beat up whomever he considers a bad guy. Robocop style.)

>>57019131
where would i live then? and who would hire and hobbo smelling and looking like shit?

Money is a useful illusion but the only way to be truly "rich" is to have land--enough that you can completely support yourself and your family on it, independently. The amount of land required to feed a family for a year varies greatly according to climate and fertility of the soil, but generally speaking, we're talking 1-2 acres and 50% of it dedicated to crops and/or animal husbandry.

If you can attain that, you're rich. You just need a bit of an income to cover property taxes, utilities, tools, etc. If such a property could support 2-3 adults and 2-3 kids, 1 adult could work outside the home for an income, and then the other people are basically working for their own sustenance.

If the family could eventually achieve an account large enough to pay enough dividends to cover all expenses, you'd be effectively liberated from capitalism, which is the highest level of wealth achievable.

>>57019356
Dual income (husband and wife) making $65k each puts you at $130k combined income. That's not rich and you can afford a $600k house.

>>57020957
>>grow over 150lbs of veggies on 120 sq ft.
this is true wealth
buy land, it's the only financial goal worth working towards

>>57020897
The fuck?

You rent a Condo like everyone else and get a roommate, not hard.

>>57020957
Land is a terrible investment, no man is rich if he owns land. Land is an illusion because the government can always just take it.

>completely support yourself and your family on it, independently

You DO NOT want that, you'll never be part of big city culture, you'll never go to NYC/Toronto cocktail nights, ever.

Your life will be hell.

The highest level of wealth is to work at Bain or McKinsey and rub elbows with the executives.

>>57020957
>Le capitalism
I like capitalism. I'd rather play with numbers on my computer and buy my steak at the grocery store ready to cook. Instead of having to spend all my time doing hard farm work taking care of animals and crops.

>>57021071
>You rent a Condo like everyone else and get a roommate, not hard.
great, i just have to go living with some shithead

>>57021009
>130k
>not rich

That's over twice what I earn and I'm filthy rich myself.

Also

>600k house

There are no houses for under 850k

>>57021051
No it isn't, the only goal worth working towards is status. You want to live in the city, and know people who work at Bain and McKinsey. You want to surround yourself with Ivy League educated people, build a network of people like that.

Moving into the rural countryside and growing crops will plant you as far away from that as possible.

>>57019108
>>Save up $60k
So easy to do bro, fuck me for not having 60k.

>>57020957
>you'd be effectively liberated from capitalism,
Fuck off Commie, I want to be rich, not stuck in a Socialist hell hole that makes everything I like illegal while wanting me raped and dead.
I need Capitalism to get money to buy said land from either the Government or some fuck head.

>>57021071
>You DO NOT want that, you'll never be part of big city culture, you'll never go to NYC/Toronto cocktail nights, ever.
Woah, wow, Gosh darn, guess I will have to shoot guns off my back porch and drink homemade mead while hanging out with my cows and dogs and pet alligators and shit.
Fuck me, the horror of not being surrounded by Rich cunts who would probably pay my year's salary to have me shot and buried someplace.

>>57019108
Hi fellow leaf, I'm in my early 30s and I've mostly followed this advice, graduated debt free and started at 70k/year at 23.
I've been a bit riskier though, after I built my emergency savings and got my first car, I gambled 25% of my net worth into crypto some years ago and it now makes up 50% of my portfolio. I'm sitting on about a 500k NW and it'd only be ~300k if I never touched crypto.
While the strategy you outlined is a good starting point it won't make you rich, but it will be enough to fund your retirement by the time you're 65, maybe even sooner if you have a high savings rate.

I don't own a home, I could afford it if I put 90% of my net worth into a down payment and had 0 savings for 25 years (while being at the mercy of interest rates).
It's ridiculous because just 10 years ago someone in my position could have paid a house off, or saved 5 years and bought it outright in cash. At this point I'm planning to just retire early in another country, why bother waging for decades to pay off an asset when that's an option?
It's sad because owning a house is really the main way wagies could get ahead because it was a real asset and it's immune to currency devaluation, and you could leverage debt to and tax savings in a way that no other asset does. Not to mention the additional benefit of turning it into a duplex and renting part of it out. By flooding Canada with immigrants, and strangling new construction with more regulations and bureaucracy, the previous generation, our elites, and institutions has effectively pulled the ladder up from behind them.
The US hasn't experienced it nearly as bad, they can still get the advantages of home ownership.
>>57020880
This reads like cope, there won't be a big collapse of institutions in the next few decades, as long as we remain in the west we will live under anarcho tyranny.

>>57020957
>If you own enough Capital to simply slide by and live in luxury on rent-seeking, you win!
You're not describing liberation from Capitalism you absolute monkey, you're describing the game of Capitalism itself as described by its critics and detractors. I am not even interested in expressing a personal value judgment in either direction on this subject. It's just objectively kinda dumb to talk about "liberation from capitalism" in terms of identifying as a "temporarily embarrassed millionaire" who simply needs to accumulate enough Capital to win the game.

>>57019108
>>57019131
>>57019140
>>57019212
>>57019218
>>57019250
>>57019259
>>57019270
>>57019288
>>57019313
>>57019322
>>57019356
>>57019413
>>57019509
>>57019698
>>57019712
>>57020325
>>57020421
>>57020434
>>57020486
>>57020758
>>57021071
>>57021086

Reddit is full of people that "did the right thing" their whole life. They turned in their homework on time, they went to bed at curfew, they ate their vegetables, and now that they're adults they put money into their 401k, get an annual physical, and follow all the social rules about what you're supposed to think and do. But they haven't been rewarded for it. The implicit agreement for "doing the right thing" is that you will be rewarded for it down the line, and people who don't do the right thing will be punished. And naturally this sort of compliance leads to very mediocre people. They aren't rich, they didn't get the girl, they aren't cool. When they see people succeeding by doing the opposite of what they sacrificed to do, it angers and confuses them. It's not right that we should make money on shit coins, when they are struggling to pay their college debt. It wasn't fair that PUA guys got pussy when theres a nice guy redditor waiting to hold the door and pay for dinner after youre done fucking her.

Getting rich off of crypto isn't supposed to be how it works. You're supposed to do your homework, go to a good college, get a good job, and slowly pay off all your debt and a 30 year mortgage so you can retire at 65. To them, we're cheating and we should be punished for it.

>>57019108
>How to ACTUALLY get rich
>Step 1: Have $160k
Wow why didn't I think of that

>>57021297

Their strategy in life is compliance. Thats what they do in every aspect of life, look for authority and comply with authority. They believe if they comply hard enough, they'll be rewarded for it. So whenever anyone doesn't comply and they get rewarded for non compliance, it causes cognitive dissonance, envy, and anger.

Everyone has heard of the fight or flight reflex to danger. But not as many know there is a third strategy called "freeze". Rabits and other prey animals have an instinct to freeze when they are in danger in the hopes that by being very very still the predator will overlook them. Thats what redditors are, they're prey animals that freeze in the hopes that the hawk will take a different rabbit and leave them alone.

this pasta is forever stored on IPFS
ipfs://bafybeihzes6zmgzr5gesrbf7uzpq2nwpqo6ypcegmsp63rxe7mk5yk46am

>>57021094
I saved 50k this year doing retard caretaking. It is easy. Now I’ve got 80k saved. Just be in a position where you don’t pay rent. Since I work 100+ hours a week mommy says it’s ok I don’t have to pay rent for the one day a week I’m home and do laundry.

>>57021297
I just wanna get in a position where my liquid assets are growing handsomely and something I can pass down throughout the next 100+ years until some lucky great great grandson of mine can inherit it all and leave the peasant class for good my bloodline has been in for 800 years. I don’t need or want much in my lifetime. I’m probably gonna join some homesteading intentional community and buy land for super cheap in their group buy, build a little cabin, work from home, live simply and keep making progress on my investments so the next generation will already have a lot to keep growing.

>>57019295
Now do stocks, etfs or crypto

>>57019108
>get a job
You already lost the game. Mind-blowing wealth can only be acquired on the blood and hard work of others.

>>57019398
Hope you like it you're gonna be there forever

>>57019131
Shit, we got another Kiyosaki here.

>>57019108
Unironically this but with a few modifications:
BTC instead of the S&P.
Save up 10k cash instead of 60k, and then split further savings between cash and BTC until you hit that 60k cash mark.
Then all extra income to BTC.

>>57019126
Owning a home is not a smart unless it is used as an asset. If your ass and your wife's mixed race child live in it then its a liability

>>57019108
>How to ACTUALLY get Rich
1: Marry a rich person
2: Wait 3 years
3: TRAGIC ACCIDENT
4: Congrats - you are now rich.

>>57019108
If you're just gonna put the 60k in stocks, why save it in the first place instead of just investing from the jump.

I have about 70k in stocks, and I've never once had emergency fund that large. Right now I have like 9k in cash and treasuries spread between various accounts, but only $2.7k in my actual emergency fund.

>>57019108
That's not how to get rich. That's how to hav some security for a comfortable life in your retirement. Getting rich almost always requires creating something from nothing and reaping the rewards of that yourself. Working for someone else doesn't create something from nothing and you're not going to get to reap the rewards of creation.

>>57021086
>That's over twice what I earn and I'm filthy rich myself
You aren't filthy rich. You can't even afford that $850k house. That's a pretty obvious indicator you aren't rich, not being able to buy a house. Also not everyone is in Canada.

>>57021094
Increase your income and get married so you have dual income.

>>57019131
I made $370,000 selling a house I bought in 2014 after living in it for 7 years. Bought another for 750k that is currently worth over a mil after 3 years. You’re out of your mind if you think real estate isn’t an appreciating asset.

>>57019108
>including shitcoins
wrong

>>57019108
>keep working
do you know what rich means? it means you don't have to work. who cares about being rich when you're dead

>>57021932
I’d be happy if my great great grandson was rich due to my investing savings. I’m not gonna spend it all like some boomer when I’m old and grey. Not gonna do any expensive healthcare Frankenstein procedures to make me live a few more years

>>57019295
The sp500 beats real state, however, it's still so fucking slow
>just wagecuck for decades while saving on the sp500 bro
The only way to get rich is to have a job that pays a fuckton, like being a twich streamer or whatever the fuck, and then gamble this all on BTC or some shit

being rich when you are too old is fucking retarded

>>57022007
Too late for me maybe. Not too late for some descendant of mine in 100 years.

>>57019108
Yes yes goy. Slave away for years and years to save up 60k, then throw it into S&P and hope for the best.
Lmfao Jesus what the hell is wrong with you retards these days.
You're better off using that 60k to start a drug running business and be out the game in a quarter of the time.

>>57019108
>just work for 30 years bro!
Or you could learn how to trade and be done in 5-10 years instead.

>>57019126
>Home ownership, though a near-impossibility for milennials, is a pre-requisite for even the most conservative "make-it" strategies, including the one you've proposed.
Absolutely not true. people are so brainwashed by this idea. owning a home is simply a lifestyle decision. factor in all the costs associated with home ownership and the opportunity costs of renting something cheaper and investing the remainder. Go ahead, crunch the numbers.
https://www.youtube.com/watch?v=T71ibcZAX3I&t=1073s&ab_channel=TalksatGoogle

Only works when you have a $200k-$300k income, which is extremely difficult to obtain when you're in your 20's. And no, the stupid larpers on this board are not proof that it's "easy". Only a tiny fraction of this country makes that much money or more. Stop letting social media cloud your judgement on reality.

>>57022254
>$200k-$300k income
No. You can do this easily on $100k+ household income. If you saved $3,500 a month it would take 17 months to save up $60k.

>>57019108
>60k emergency fund
Do you not have health insurance, anon?

>>57022302
> Doesn't take into account cost of living + taxes + cost of benefits + cost of repairs (if any, absolultely crushes you if you do have to)

If it were only so easy anon.

>>57022304
It's not for paying for medical care ya dingus. It's if you lose your job you have plenty of cash to pay your all bills and float for a while until you get a new one.

>>57022323
Yeah I took all of that into account.
>but I have two car payments and a luxury apartment I have to pay for!!
Sucks for you, retard.

>>57022326
I could float for about four years on that much.
Then boomers/HR would see the gap and ask what happened, and not hire me.
This plan seems a little sketchy to me.

>>57022363
Having a large amount of savings is a ""sketchy plan""? Anon you might be retarded. And it's not for intentionally not working, it's for using while you're looking for work after getting laid off/fired.

>>57022381
The sketchy part is not using most of that money to invest. I'd only four-years-worth of float money if I never intended to be hired again.

>>57019108
Anything boglehead related or just sensible advice in general is rejected here.

>>57019108
own a 1 million $ home lost 40k on eth to indian parasites selling for 2x
gamble on solana and made 100k in 2 weeks
my how russian wife is working and I invest her salary into the s&p 500. only etfs with dividends

only thing I care about is why lockheed martin is hiding alien technology

really sad to see the world has turned into shit where people actually accept a mentally retarded president and rigged election. and still write shit like this and act like they are smart

>>57022338
Sorry, I forgot about the living in my parents basement until 40 strategy.

>>57019108
>>Open a savings account
stopped reading here
>Get a job
and especially here

>>57019108
>60k in savings

lmao what

I feel like I have too much in savings myself but 60k is insane, especially with current inflation

>>57022037
who cares

>>57022396
60/4 = 15. All your expenses per year are $15k? Regardless you could lower the total savings if you want, as the OPs plan was to funnel it into investments in the end anyway.

>>57022432
>Noooo you don't understand I HAD to buy two new cars and live in a luxury apartment, that's the only option other than living with mommyyyyy
Lol. Lmao.

>>57022523
buy polkadot with that, stake it, and retire in 1.5 years. you're welcome, and congratulations on your success anon.

>>57022338
Of course you automatically assume everyone here has 2-3 car notes. Did you really factor in cost of living, or are you just saying that to be dismissive? You're not a reliable source of info if you can't broaden your perspective and run the numbers. But what can I expect from your average larping channer?

>>57021297
You're right, cheers anon.

>>57019108
Better yet,
Live with your parents and invest 90% of what you make right after you have 1k in your checking.

>>57022823
>Of course you automatically assume everyone here has 2-3 car notes
If someone is whining they need $300k they almost guaranteed have multiple car loans and general excessive spending.

>>57021071
Kill yourself for advocating that we should accept less for literally no reason other than corporations are greedy and want to pay you less while also buying property and driving house prices up.

>>57022678
Quality of this board is so shit and has been this way for years. You’re not going to realistically be able to invest 3.5k a month on a 100k salary. That’s 42% of your income PRE-TAX. Why do you bother larping here, stay in your basement.

>>57019218
>crime is lower than it ever
Sure, when you decriminalize thief, he visto ghly addictive drugs, etc. Then crimes Goes down. Duh.

>>57022927
Then do $3k or $2.75k if you can't manage $3.5k though frankly you probably could.
>noo but I want to cry
Ok.

>>57022958
>called out on not taking into account ANY realistic factors
>lowers amount saved by 750 a month as if that isn’t a significant decrease
>”whatever ur prob retarded, I could do it”
Larp

>>57023014
My household income is $143k. So a good bit above $100k, but realistically you just want to bawl and cry instead of buckling down and putting a lot of money away. You probably have poor spending habits. Got a car loan?

>>57023042
>ignores everything
>”car loan car loan car loan”
and no, I retired 3 years ago at 51

>>57023075
Car loans are one of THE most common ways people burn tons of money. I mean saving $3500 seems a lot more daunting if you have a $850 car loan and more expensive insurance covering the vehicle.
>51 retired
Good for you old man. You should then stop making excuses for these young guys and instead encourage them to massively save (and invest).

>>57019131
>inject jewish suicide juice
Is this 2021?
What countries even require that shit now?

>>57021861
Not every rich person can afford a house. I know tons of rich people that never plan to buy a house.

>>57022859
You're the greedy one, you want more for doing nothing.

>>57023186
>Not every rich person can afford a house
Every rich person can afford a house.
>know tons of rich people that never plan
Actively choosing not to is not the same as not being able to.

>>57023223
>Actively choosing not to is not the same as not being able to.

I mean they can't afford to. Me for example. I make tons of cash but the banks still won't approve of a mortgage.

>>57023265
>I make tons of cash
You said you make $50k Canadian monopoly money. That ain't shit, anon.

>>57023328
I make 55k Canadian, that's a metric fuckton. I can literally eat steak tonight and drink wine tonight if I want and I still will have increased my networth. I also have Cuban Cigars I could smoke if I wanted.

Literally live better than an aristorcrat while building wealth every day.

>>57023332
>I can spend $30
Wow

>>57019108
>work a steady job and buy stocks
absolutely amazing advice OP, thank you for this thread

>>57023265
>won't approve
Because housing is so expensive in Canada or what? I'm a burger and make the same and got approved for up to 145K. Is that not enough to buy one there?

>>57023360
I also have massive student debt (pls no bully) so I was surprised I got that much.

>>57023343
Yeah, three meals a day, so horrible! I wish i was an African earning $2

>>57019108

FALSE this will NOT make you rich.

Assuming youre like 25 by the time you can put away 1k per month of your salary into S&P500.
AND assuming it grows 10% a year (very generous estimate given its performance lately) and you put 1k in till youre 40 for 15 years. Youd still only have 414k in snp.

Is 400k a lot of money for 15 years of money? No you wouldn’t be rich.
Also, thats almost 200k you put in, for 200k return over 15 years, u may be dead and will defo be old by then.

Your getting rich scheme only worked for boomers, now people get more in a day from lucky alts or making a viral video or girls selling pics online

>>57023360
Cheapest house here in Canada is 850k, and that's a townhouse.

It's also 3 hours from my work LOL, a house within 30 minutes of my work is 4.5 million.

>>57023416
Lmao. You think you're rich because you live better than an African?

Replace the $60k e-fund with a $10k one and swap shit&piss for BTC and you'd be right

>>57023436
I'm rich because I can afford things like meat, vapes, alcohol, rent, and still save.

>>57023459
>I can consooom, therefore I'm rich
Lol. Lmao.

>>57022564
My blood

>>57019140
>I'm 23 years old

>>57019108
by that time all the women i want will be married and old fuck u bitch

>>57023717
You're supposed to grab em young, when you're young too. Dual income helps a LOT.

>>57019108
Sure, this way you can enjoy your riches when you are old and in bad health, absolutely pointless.
>>57023459
That's lower middle class, not rich.

>>57023724
no shit, but im 22 and a virgin so all i care for is money. Tis my only chance at getting a gf

>>57019131
Agreed. There are risks and disadvantages to owning a house that people pretend don't exists

>>57019509
Jesus, this makes me realize how fucked this country is.

>>57019108
The social contract dictates that I get a wife that looks like that. No less. If I don't get that I will not contribute to society.

>>57019413
Lol 70k is just barely more than your average zoomer fresh college grad makes at their first adult job.

>>57024011
>The social contract dictates that I get a wife that looks like that
No it doesn't.

>>57019131
ohhh noooo i had to buy a $22 thermocouple for my water heater this year!!! largest money sink ever!!!!

>>57019509
Good for you anon, stick with this strategy. As long as you're satisfied that's all that matters. Don't listen to those petty doomer faggots who keep shit talk you.

>>57019108
Thanks bro. Great advice for a comfortable retirement. But we want to get rich before we're past the age where you normally can start a family and have kids.

>>57019108
I don't know what to tell you bubs, i've been copytrading and bot trading while analysing the data using dexscreener for almost a year and im halfway there. And most of my folio doesn't make sense, its 100% shitcoins, but if the whales like it, they it am i right?

>>57019108
>get a job
First of all no one got rich by working. Later steps are the key here.

Secondly, the amount you start with is what matters.

I have more than 100K in savings but it's barely 4% yearly. So that won't get me anywhere

>>57021297
those kinds of posts are the reason I come on /biz/
You rarely read those truths elsewhere, if ever

>>57024011
that's a man
>>57024286
good eye

>>57019108
Breed Eva

>>57024737
You need to include element of volatile assets there. I was saving in tradfi as well for around the same rates mostly. Now I moved all to Spool. Staking stables for 4.5-5% mostly and an additional SPOOL token boost of 15% or so. That is cumulating on the side. When it does some good Xs, the difference will be significant

>>57019108
SP500 GARP index is much better because it boots the crap out of the index and the companies are more reasonably valued than the top ones. Historically it out performs but the real benefit is it is far less risky.

>>57023489
cool, but i want to enjoy too

>>57019131
Depends on the location u dumbass

>>57020414
How much to invest in VYM to make 17k ayear on divvies

>>57024737
I got rich by working a job

>>57024348
sure

>>57024055
I earn less than that I'm the richest zoomer there is.

>>57023744
You don't want to "enjoy riches", you want to die with wealth

>>57023905
Because i get to live like a King?

>>57019126
good goy. "own" an expensive asset that you spend your whole life paying off and maintaining. theres a good goy

>>57021297
isn't it weird that their "reward" was creating a couple of replacement slaves?

It's almost like it was planned...

>>57024737

I definitely got starting wealth from my income primarily, and so did many i know

its pretty easy to lay out

maximize income
eliminate debt with income
use income to purchase assets (Crypto, real estate, market tracking funds)
take advantage of tax advantaged savings vehicles; roth iras, 401k w/employer match, HSAs

this simple formula has lead me to 800k net worth at 32. i started with negative net worth at 25, and a broke family

>>57024758
financially minded people truly see the world and all that happens in it for what it really is.

>>57019218
Great stuff. These fucking misinformed doomers suck too much alarmist media dick and don't understand were living in the most peaceful age with less poverty than any point in human history.

>>57025408
Our reward is ruling the planet.

>>57025438
Absolutely based

You're looking in the rearview mirror. There's no evidence this is going to work out in the future.

>>57019218
>>57025438
>>57025486

This paid content was brought to you by [incumbent politician]

And don't forget that everything is actually at its peak and was worse before [incumbent politician]

>>57019108
She doesn't look the type to gamble on shitcoins, if I'm honest

>>57019259
> Literally anybody aged 20-25 would slash their nuts off for a chance to work in America. I would personally cut my legs off for an American greencard

???
Im from Europe, literally nobody wants to live in America, everyone thinks you should visit it at least once but the overall concensus is that in US its unsafe like in mexico or some other shithole

Sometimes teenagers from poorer EU countries will travel to US to work some manual labour jobs during summer break or tech specialists like myself get to work with companies as contractors/consultants. I worked for ATT for a year for example.

But no, nobody is fantasizing about living there anymore as if it was the 50s.
It really isnt the land of opportunity anymore

>>57026108
>Im from Europe, literally nobody wants to live in America, everyone thinks you should visit it at least once but the overall concensus is that in US its unsafe like in mexico or some other shithole

Literally everybody wants to live in America, it's the only country where you have freedom and human rights.

People I know are SCARED of Europe, they know they could be arrested if the government thinks they're having a politically incorrect thought and thrown in some E.U prison. No one wants to go near Europe, even to visit.

>But no, nobody is fantasizing about living there anymore as if it was the 50s.

Literally everyone is. As I said, I would rather be minimum wage in the U.S than rich in Europe.

>>57019131
Most retarded post I have ever seen, enjoy being raped by whatever rent your owner (landlord) wants to charge you and never feel even an ounce of safety or security living in someone elses run down flat that you will sink an entire mortgage worth of cash into for 0 return.

>>57019108
How hard do I have to goon so that I warp space time enough for her to manifest her in my life?

>>57021297
Reddit isn't full of people who 'do the right thing', what the fuck are you talking about? Half the people on reddit get ridiculed because they are completely out of touch with reality and think shit like open relationships is normal

>>57027068
>Literally everybody wants to live in America, it's the only country where you have freedom and human rights.
What freedoms and rights do you have that we don't?
>People I know are SCARED of Europe, they know they could be arrested if the government thinks they're having a politically incorrect thought and thrown in some E.U prison
Examples?
>No one wants to go near Europe, even to visit.
Several american mates of mine visited different places in europe and enjoyed it. Don't know one person who doesn't think america is a good place to visit though
Where are you even from?

>>57027068
Haha bro ok, sure go ahead and fantasize that.

> People I know are SCARED of Europe
I believe that. Its because most Americans dont even know what europe is, and think its between russia and north korea :) probably wouldnt even be able to point it on a map.

Nobody is getting arrested for political opinions here, and unlike in US we dont have mass surveillance used as evidence in court

>>57025399
a king would have a house, which you clearly don't. although, i am curious as to which province you're able to live somewhat comfortable rentoid lifestyle with 55 grand annually. presumably winnipeg or the east coast?

>>57023212
as opposed to a meagre wage paid out for meaninglessly shuffling around numbers like an excel jockey? gee... what a life.

getting rich quick is just a matter of risk taking. thats all there is to it.
conversely, if whatever it is that youre doing is risk-free, then you are almost certainly not going to get rich doing it (i'm talking to you, wagies.)

>>57019232
Gold is speculation, not investing, and you're getting disrupted by BTC and haven't even beaten inflation in the past 12 years.

>>57019126
Thank god I’m a HOOOMER now.

>>57019131
Giga rentoid cope

>>57027159
You know nothing about America. You don't get have access to information or eduaction so they pretend America is the "Great Satan" or whatever. You probably think the only thing you're allowed to eat in America is Hamburgers.

>Nobody is getting arrested for political opinions here

Is lying fun for you? In Europe if you aren't a government loyalist you get tossed in cell.

https://en.wikipedia.org/wiki/Hate_speech_laws_by_country

>>57027173
I live in Toronto.

>>57027182
>Getting to live better than a king and being disgustingly overpaid with more money than you know what to do with for sitting at a nice comfy desk in a warm office

Yeah, totally horrible! Totally!

>>57027158
>What freedoms and rights do you have that we don't?

Freedom of speech, freedom to own guns, freedom to refuse medical treatment, bodily autonomy, freedom to keep more of the money we earn.

>Examples?

https://www.nytimes.com/2022/09/23/technology/germany-internet-speech-arrest.html

>Several american mates of mine visited different places in europe and enjoyed it. Don't know one person who doesn't think america is a good place to visit though
>Where are you even from?

I'm from Canada and I HATE it. We have some of the same socialist policies Europe has but not to the same extent.

>>57027352
clearly if you cannot afford a home, let alone several, or people to do all your chores for you, certainly not better than a king.
also, i never said it was necessarily 'horrible'. i simply corrected you and pointed out it's a meaningless job. for ex i've never met an investment banker who brags ab being an excel/powerpoint formatting monkey lol despite the paycheck. there's a reason they're all depressed.
if you're comfortable with your life, that's all that matters. however lets not pretend that being able to eat steak (lol) is a sign of having made it. still got a long way to go, although ur doing good and you've got a long steady road ahead.
also 55k finance i presume you're working commercial banking, prolly just out of school recently. don't you guys tend to top out at like 100-120 grand? do you have any desire to keep increasing your income beyond that? also how do you manage to live comfortably in toronto on 55 thousand leafpesos a year? all i keep hearing is how unnaffordable it is, although i have a feeling it's just vaxcattle complaining about muh cost of living after wasting all their money on frivolous bullshit they don't need and, most importantly, can't afford.

>>57019218
nice attempt at a big lie meme

>>57019259
to flint michigan you go

>>57021071
go the fuck back to reddi t bugman
>our system thinks your post is spam, please suck my dick and swallow jannies

>>57027119
which they are virtue signalled into doing to conform to progressive group ideals

>>57027427
>also how do you manage to live comfortably in toronto on 55 thousand leafpesos a year? all i keep hearing is how unnaffordable it is, although i have a feeling it's just vaxcattle complaining about muh cost of living after wasting all their money on frivolous bullshit they don't need and, most importantly, can't afford.

Ding ding ding

I cook my own meals and I am saving bank. I don't even want to earn more money, I feel I already earn a lot.

>>57027509
Fuck off anti-social trailer trash. We don't want your kind in the city anyway.

You lack basic critical thinking, you conform to your internet community of weirdos.

>>57019108
Is that what grandpa told her after she stole his pants and shirt?

>>57019140
>I'm 23 years old
In all fields, no cap.

>>57027546
>cook my own meals
nicely done. people seriously underestimate how much money they'd save just by taking, oh idk, maybe an hour to plan a grocery purchasing schedule and organizing a meal plan, then it only takes, what, an 1.5hrs per week after that to actually do all the cooking and weekly preparation?
i presume you aren't even meal prepping either, just cooking normally every day.
but... lets be real: it was never ab the money with these people, just convenience. they'll happily shoot themselves in the foot with a 12 gauge, complain about it, then wake up tomorrow and do the same thing. they deserve to lose. keep doing u

>>57027601
I just throw a slab of meat on the skillet and fry it up, or boil some chicken and cook some rice.

Maybe a few carrots on the side too.

> but... lets be real: it was never ab the money with these people, just convenience. they'll happily shoot themselves in the foot with a 12 gauge, complain about it, then wake up tomorrow and do the same thing. they deserve to lose. keep doing u

Thank you based friend.

>>57027349
You don’t understand.
I literally worked for AT&T for more than a year.
I know America well enough, I was born and raised in EU. Now i live in EU, because its just superior.

But believe what you want, and keep arguing to strangers online like its gonna increase your dopamine levels

>>57027632
You know the data is on the internet right?

E.U is the most disgusting place to live on the planet. Imagine having no rights and having 50% of your income stolen from you.

America is vastly superior, you actually feel like a human being.

>>57027649
>No rights
>50% of income stolen

What rights don't europeans have?

Last time I checked the only group trying to impose limits and restrictions on mass unlawful surveilance and data collection was EU with things like the GDPR, americans have been surveiled freely and continue to be so.
You're clearly a total schizo but I'm just curious, I've been there over 10 times across the years for various performances, events, conventions etc, I don't hate the place but its overpriced and gets absolutely mogged by a lot of the globe.

Also why do you keep saying the "data is online" like america is some magical place no one knows about? We know your crime rates, we know your minimum wages, we know what goes into your "food" (its banned here because humans deserve to eat better than that pig slop), we know you can't go out to a restaurant without paying 20%+ extra to your waiter on top of your overpriced bill.
We know you only have two political parties and your politicians are on dementia medication, we know your kids are massacred daily in their classrooms and you view whether this should be stopped as some kind of "debate".
You will never win because as you say, the data is online and wow does it make you look awful.

>>57027733
You view whether or not you should give free money and healthcare to unproductive useless eaters as some kind of “debate”, in my state, the thought of socialized medicine would get you laughed into oblivion.


You have no freedom of speech, no gun rights, you have no right to refuse medical treatment, you can’t employ someone for a low wage even if both parties agree, you can’t stop Muslims from coming into your countries and screwing shit up, you can’t even stand up to the transgenders without being charged with a hate crime

>>57027068
>No one wants to go near Europe, even to visit.
Lol you're either a moron or a troll. All Europe is at this point is a tourist destination. Europe has no economy outside of tourism, except for some dwindling heavy manufacturing in Germany.

>>57024055
Zoomers are making $30k on average you out of touch faggot

>>57019108
>Don't gamble (including shitcoins)
stopped reading after that cause i got rich gambling on shitcoins. you can be pretty consistent with it too if you know what you're doing - and judging by your post i expect you to get rugged 99% of the time. literally have 50k in POPCAT right now already took around 15k off the table, all from 1k initial

>>57019108
Boom and now your 75 and can enjoy your money.

>>57019140
>I am a dumb kid
astonishing how these shit for brains think they are smart and get jobs where they consult or rather berate other people on things I guess the general population's intellect is pretty low
kys then you can talk again faggot zoom zoom

>>57019108
Would creampie if I didn't already mention it.

>>57027119
you just proved the pasta right
that's a modern concept pushed by mainstream feminist conformism
they get obliterated by it because they go with the flow and conform to "the new normal"

>>57024758
that's a 2 part copypasta
not made by me, but posted on biz
I did however make the permanent IPFS addition

also, take notice how OP ignored the pasta
because he has no answer to it
he is a defeated NPC with "41 posts by this ID" raging malding and seething at /biz/

because we're cheating
and he does not like that

>>57028081
Never go full retard anon kun

>>57031787
You’re an NPC who’s braindead

>>57021881
It's an appreciating asset in some places, sure, but there are plenty of places that it doesn't, at least not as much as yours did, and it's hard to gauge where those places are outside of very obvious cases

>>57019131
the black rock shills are strong here

>>57032287
Being a hoomer is kind of gay
Much easier to make money with crypto or stocks

>>57019108
Nigga, I'm extremely poor, 30 y/o, NEET, haven't worked or done school in almost 10 years, and live with my mom. My only income is neetbux and whatever money I've made from shitcoins. The normie path is not going to happen for me. Why would I do any of that shit when I can just obsessively engage with crypto markets on my computer all day? I'm trying to MAKE IT, not be trapped into a lifestyle that does nothing for me and only shows its fruits when I'm almost done with life?

I will continue to play the shitcoin casino and then rotate into better alts for next year. I will continue to do this until I make it or until I cannot do it anymore because of regulations or whatever. I prefer my chances of making it this way versus the normie path. Even 500k changes my life drastically. Fuck you boomer faggot.

>>57019131
Pure and utter retardation. I bought a house did minimal work on it and sold it for an 8x 6 years later. Enjoy your heckin based shitcoin you will "make it" on. Kek.

>>57032605
Lottery winners have made more money than you ever will in a lifetime by buying a $3 ticket.

You're a fucking retard for thinking your 8x on a shitbox is anything.

>>57021881
If you put that money into Apple you'd have 10x your money.

>>57032605
>8x 6 years later
Ahahahahahahahahahahahaha

>>57019108
>TA DAHHHHHHH
study for 20 years, get an IT job in POORTUGAL, get paid a decent wage, have the government take most of your income, can barely afford rent and expenses, but theoretically if you live in a decent country, where you can actually afford rent and exepenses and still ahve some monmey left sure

>>57025308
I only want to use a small portion of my assets to group buy cheap land in a homestead community and build a small cabin I can wfh in and click buttons to grow my wealth for my children’s children’s children to finally be wealthy enough to escape the globohomo black hole vortex.
>>57032578
Start doing retard caretaking. It’s almost like being a neet but I netted 54k last year.

My worst performing asset for past 2 years is s&p500 etf. 3.48%