/biz/ - Business & Finance

>>606831
you have 30k in debt you stupid fuck. pay that off first.

>Age
26
>Savings
20000
>Debt
0
>Income
24000
>Financial question
can anyone into IPOs?

>>606831
>30k debt at 23yo

What the fuck happened?

>>606843
>>606857
Hospital bills. I'm only paying $100 a month - for pretty much life. That $100 a month shouldn't stop me from getting a house.

>>606831
you won't get a loan for a 200k home. i just barely got approved for a 30 year loan for a 70k condo while making about $400 less than you per month, and this was with only having about $1k credit card debt that i was quickly paying off since my 0% interest rate was about to end.

from what i remember my loan officer told me was that if your monthly payments exceed 40% of your income you won't get the loan. this is not just limited to the mortgage but also the property taxes and any mandatory insurance that the bank will force you to have.

>Age
20
>Savings
$10k in checking account
>Debt
None (I love you dad)
>Income
$1900 a month (before taxes)
>Question
I currently work as an IT help desk technician for a company's piece of shit niche product. I REALLY want to resign and get a sys admin job. I spend ALL of my free studying for IT certification exams. At the moment, I'm studying for the CCNA exam. At what pointz should I stop studying and start applying for a new job? (Already Comptia A+, Network+, and Security+ certified)

>Pic related

>>606875
I'm working in IT too and everyone tells me certificates and degrees are bullshit in this field. At least if you wanna be a sys admin or help desk. Get as much experience as you can milk, then leave your job when you've had enough.

>Age
19
>Savings
$816,452.53
>Debt
lol wat, you think I am a pleb?
>Income
16,000 a month.
>Question
Being as it is a given that wealth = genetic superiority, how superior am I?

>>606910
>>Age
>19
>>Savings
>$816,452.53


How?

>>606910
Well you're not superior because you didn't make that money, you receivied it from your father didn't you

>>606910
>wealth = genetic superiority
>wealth = genetic
I guess wealth != smarts

24
Savings $7500
Debt $390,000
Income about $10,000 a month give or take a few hundred dollars.

OP most banks want a 20% deposit these days on houses. Sure some will let you put in a smaller deposit, but the. You will have to pay mortgage lenders insurance.
A lot of banks have online repayment calculators. Put in how much you want to borrow and it will tell you your repayments including current interest rate.

>>606914
>>606916

Everything you get in life, you get from your parents. Say, if he inherited great looks and made bank as a male model, how would that be any different at all from inheriting 800k from his dad?

Serious question.

>>606924
Thanks for the info. Also, why do you have $390k in debt at 24?

>>606927
You don't need inherited looks or skills to be rich. You can put yourself through college, you can find a job yourself, you can become successful on your own. Your argument doesn't make sense. Unless I'm missing your point.

>>606927
wow this logic is so deluded.

>Age
26
>Savings
£30k /$45k
>Debt
0
>Monthly income
£1000/$1500

Not earning much money but i live frugal and save the majority of what i earn.

>22
>$5,250 ish + checkings ($1,800 ish)
>$8,000 in student loans, $5,600 in a car loan
>Currently about $500, start a new job tomorrow making $65K annually + commissions (should equate to another $65K)
>I'm going to give advice instead of ask a question: It's easier to get rich through multiple "okay" ideas that generate a little bit of money than by "hitting it big" with one idea. Cleaning businesses, food carts, franchises are all viable long-term investments that will help you build real wealth

35
$300k non-IRA savings/investments
$200k 401k
$80k debt (15 year 3% fixed APR)
$7k/mo income after taxes & 401k contribution

You're doing good OP. Better than me when I was 23.

>>606831

$29k/yr would allow you to have say $850 towards a mortgage, property taxes, and insurance. However, your existing debt load is high. Just because you can float and pay $1/month in principle for hospital bills doesn't mean you should do that. It's like getting and interest only loan for a house, not a good idea. It'll also kill your credit score and you won't get a loan that way.

>>606875
* ment to say "after taxes" *

>Age
18
>Savings
90k
>Debt
0
>Monthly income
15-20k
>Financial question
The only bonds that look good to me are I-bonds, but there's a limit on buying those. What are my alternatives?

>>606831
> 25
> 180,000
> None
> About $300 (not counting investments)
> I'm good

>Age
21
>Savings
$3,000
>Debt
$0
>Income
25k
>Financial question
How long should I have held a job before I apply for a credit card (first job)?

>>606831
>Age
20
>Savings
11k
>Debt
0
>Monthly income
1100 (studying full time as well)
>Financial question
With my savings should i be looking to get into the stock market? I already have 5k in a mutual fund and send about 30% of my paycheck into it since i have little living costs. If I do drop some money in market where should i start? Surely 2.5k in tesla or exxon wont be worth it because of the fees and shit.

Age: 18
Savings: 0.1 BTC
Debt: 0
Monthly income: pocket money, usually $10/day
Financial question: how do I get rich /biz/?

>>606867
good god, did you not have insurance or something?

>>606988
Don't hospital debts not affect your credit score? If it does, it should be very minor.

>>607020
How do you have so much saved and how are you making so much monthly revenue at 18?

>>607032
although having a job is nice, they are more interested in a credit history to get credit. By credit history they are looking for anything you pay monthly on. My advice is getting one of those credit starting cards that has so so interest rates and not a lot of sparkle and pay it off each month for a year. If you have no credit history yet that is.

>>607032
I got my first approved credit card at age 20 and I didn't have a job. I was a co-owner with my dad, after a year, I got the credit card under my name. One year later I got approved for an american express on my own

>>607033
No, save that 11k. Keep it in your emergency fund and only use your income to purchase necessities. If you have leftover income, you can consider getting stocks.

>>607049
>how do I get rich
Get a job

.>>607059
OP here. My total bills were around 60k, insurance covered about half.

>>607033
calculate what a years worth of money you would need in a worst case scenario, save up that and set it aside in savings.

Assume that anything you put into the stock market will be untouched for greater than 5 years to guarantee returns.

Personally I just suggest the mutual funds as a good, solid, long term investment without any worries. At 20k mutual funds you should start generating 5-15% per year and can fool around with individual stocks...Always remember there is a high risk of losing everything for a pure stock purchase, there is also the 12-13 dollar fee per order for stocks which is why I haven't dived in, I rather have a diverse and large fund portfolio. I go with 85% stock and 15% bond funds right now and feel good.

>>607049
You still have your Bitcoins? Didnt we tell you to sell those? Why come on /biz/ for advice if youre not going to take it...

>>607079
well if you aren't paying too much in interest on that doctor bill I guess thats ok, its a pure shame though.

>>606831
>Age
24
>Savings
60k
>Debt
95k
>Monthly income
0
>Financial question
howdoyouturnthison

>>607084
No interest. I'll definitely pay it off sooner or later. I was just more concerned about getting my own house or condo. I feel like renting is a waste of money.

>>607089
>>Monthly income
>0
>>Financial question
>howdoyouturnthison
I recommend getting a job first. Living off your savings is a killer man.

>>607095
I had a fallout with my business partner last May and had to close my store. I just signed a lease today for a new location so that will change soon. Its been an awful 6 months.

>>606831
22 years
about $4000 cash and $16000 investments
I think 25k in uni fee debt
Income around 2600$ a month after tax. Probably less now since I stopped working full time.

>>607099
That sucks, hope everything turns around for you. We're all here for you bud.

>>606831
>Age
21

>Savings
~2k

>Debt
Have ~$42k in student loans

>Monthly income
Starting a part time job on Monday that'll be $1200, then once I graduate they're hiring me full time and I'll be at about $5000 a month.

>Financial question
I'm probably best off just trying to pay off my loans as fast as possible before trying to really save up to invest anything, right?

When the time comes to invest, how much should I save up to do so?

>>606931
Medicine, law, or pharmacy?

>Age
34
>Savings
$35k+ 18k in a mutual fund
>Debt
none at all
>Monthly income
$4200
>Financial question
my mutual fund seems to suck, I need something with better growth for my future retirement. Its just now getting back to the same amount as pre 9-11.

>>607083
I don't take stupid advice. BTC is the future of money.

>>607065

I'm an escort.

>Age
27
>Savings
7k
>Debt
3500 subsidized student loans, used them to pay my mortgage. now the tax payers are paying my juice for the year ;)
>Monthly income
GI bill pays for my private college 38k a year + 1600 a month, + 10$ internship at a hedge fund, 250$ a month + cheap insurance from the national gaurd, + 20k bonus from the air national guard to be a cook.
>Financial question

How do I actually learn how to invest in businesses? my fancy private college business degree is shit.. I just want to be able to look at finical statements and see the matrix of a business

>net worth around 150K while earning shit money

>age
24
>savings
9k
>debt
0
>monthly income
2.4k after taxes

>question
Any point in taking out multiple credit cards if my credit score is already good?

>>607217
>7k savings
>150k net worth
What do you have that's so valuable other than cash?

>>606831
age
>22
savings
>essentially $100k
debt
>0
monthly income
>$4k take home
Financial question
>How am I to invest above money? Nothing get rich quick etc. But it's useless with most of it just sitting in a bank account (and losing value) I'm an engineer and know shit all about finance beyond the basics.

>>607248
Have an emergency, budget your income and spending, maybe open up a Roth IRA or fund your retirement. If you want actual investment advice, talk to a professional.

>>607243

126K in home equity

saved a 54K down payment when I got out out of the Air Force

>>607249
Emergency fund*

>>607250
Nice! Looks like you got your shit together. If you're coming out of the Air Force, I wouldn't worry too much about schooling. Maybe talk to a professional about investing. I'm looking into real estate right now, I haven't had much luck with stocks. I always tend to break even.

>age
24
>cash
55k
>IRA
35k
>investments
20k
>debt
0
>salary
75k / yr
>question
can anyone recommend a decent paper trading site / app?

>Age: 25
>Savings: 3,000 (14,000 in IRA)
>Debt: zero
>Monthly income: $2,000
>Financial question: if I'm already 25 and never went to college, is it too late to start? Do pell grants still cover people my age?

>>607256

If you're smart you can make out of the military like a God, check out how this ex Russian kid became a millionaire out of the enlisted Navy
http://finance.yahoo com/news/27-year-old-millionaire-anton-ivanov-financessful-184823184.html

>>607263
It's never too late for college if that's something you really want to do. There are a shit ton of grants out there. Personally though, I think experience in the work force is far more valuable and sawed after than a college degree. Unless you have a steady job right now and have some free time to take online classes, I don't think I'd go. But I don't know your situation. Good luck.

>>607266

shit never mind I just saw the correction how this kid inherited it all

>>607268
Yeah just caught that.
>Ivanov admitted to Yahoo Finance that 75-80% of his wealth consists of an inheritance that was left to him by his parents

>Age
21
>Savings
$500.00
>Debt
$50?
>Monthly income
$1,800
>Financial question
how do I break my addiction on spending every penny on my car? lol

>>607277
Make a budget

>>607277
> Subaru 22B
Keep doing what your doing, respect the classics

thanks, i got out of a 7 year relationship (middle school sweethearts) and it's the only thing that makes me happy anymore.

28
$1,000
$50,000 (Student Loans)
$2,800
Does anyone have a time machine?

>Age
24

>Savings
17k

>CD
15.2K

>Stocks
2k

>Worthwhile Assets FMV
5k (3k FMV car, 1k FMV electronics, .5K FMV sports memorabilia, .5K miscellaneous other things)

>Non-financial Assets
Accounting Bachelors

>Debt
2k

>Monthly Income
1.5k (intern)

>Financial Question
N/A.

>>606831
>Age
21

>Savings
Like, $100 in change in my sock drawer

>Debt
Roughly $15 so far in school loans

>Financial Question
I make should I see about quitting my minimum wage part-time job this summer, and give up like, $1,000, or should I see about getting a possibly unpaid internship to help build my professional resume?

>>606831
>>Age
39
>>Savings
170k (retirement) (30K other investments)
>>Debt
0$
>>Monthly income
5000 net
>>Financial question
I would really like to put off buying a house for another year but I feel like I am going to get fucked on interest rates if I don't jump in soon. Buy or not buy now?

>>607338
>>Debt
>2k
why are you carrying this at all if you have the money to pay it off?

>>607248
You need a 6 month emergency fund. Tally up your actual expenses, not what you spend and put that away in something fairly liquid. Then it depends on how clueless and lazy you are.

Super lazy? Betterment. (or WealthFront) It will do everything for you, from helping you figure out how to save for retirement as well as simply invest in the overall market. The fees aren't crazy but you can save money by...

Opening an account with vanguard and following the three fund portfolio that is recommended by Bogleheads.

Get it the fuck out of a savings account though. Seriously.

>>607130
See

>>607414

>>607403
I would think youre fine putting it off. Interest rates are increasing but if you look at the data, mortages are decreasing consistently every month. They are trying to make a FHA more accessible by lowering the PMI (Here we go again 2008). But if yellen pulls the carpet and the rate goes up, but no one is buying, prices will fall.

>>607344
get the internship if you can

>age
21
>Savings
7k in the bank
>Debt
None
>Monthly income
1400 to 1800
>Financial question
can't think of one, all I want is a rice rocket

>>606831
>age
22
>savings
34k in cash
14k in stocks
2.5k in bonds
>debt
~550 on a credit card that's paid off whenever the payments are due
>monthly income
5k pre tax

>>607459
why do you have so much in cash? You could be investing that.

>>607465
About 12k of that is for investing, most of it was invested, but I recently sold out of a significant amount to realize some gains in 2014 for tax reasons. I have like 1k in company stock and another 5k or so in my 401k so i'm not really in a hurry to dump any more money into the markets unless I see strong opportunities.

>>606831
23
~$5000 in the bank+invested
0 Debt
+$200 a month

Question: How long until universal basic income gets enacted?

>>607195
I'm sorry, but this just isn't true. Blockchain will definitely drive the future of money tech, but bitcoin is not a useful enough implementation of this technology to ever be fully widespread.

>>607344
Internship. Build that resume.

>>607020
It depends on why you're buying bonds. Are you planning to use the money soon, e.g for college or a house? If so, you may be stuck with shitty rates on regular government bonds, big corp bonds, or CDs.

Are you getting bonds just because you're risk-averse? If so you need to (wo)man the fuck up and jump into stocks with VOO or another index fund.

>>607251
No, I think he should have an emergency. Having cash on hand when you have an emergency provides great ROI compared to having to take on credit card debt or payday loans.

>>607089
Age of empires reference on biz.
Love you

>Age
20
>Savings
$0
>Debt
Around $2,000-$3000 and rising
>Monthly income
$0
>Financial question
I'm starting a new job this month, I need to save up for school but I want to save up for an emergency. What's the best way to save, I suck at saving.

>23
>45k in investments, 7k ish in checking account
>not much yet
> - 70k a year
> How can I pay off my almost 300k dental school loan as quickly as possible? I will work at my father's practice as a partner so I won't have to buy my own

>>607509
How do you suck at saving? Just don't buy useless shit

>Age
23
>Savings
2,947.69
>Debt
No Debt
>Monthly income
$850 net
>Financial question
Once I hit $3000 in my savings, I want to either deposit $2500 into a new savings account, invest further into my current mutual fund (about $2,965.37), or invest into a new mutual fund particularly Fidelity Bio (FBIOX at 230.61). Any thoughts?

>Age
23

>Savings
$85,000 dollaryroos
>Debt
No Debt
>Monthly income
$240 off of interest, probably $2000 or so in a good month
>Financial question

Russian resource stocks, y/n?

>>607477
It will never get implemented, especially with the move towards automation. Tons of entry-level, easy-to-automate jobs will be done by machines, leaving people stuck who will all NEED an education to work.
They won't implement universal income because until robots do the menial tasks that require minimum wage, they'll save every penny where they can, I.E. you.

>>606831
>Age
23
>Savings
$130k
>Debt
0
>Monthly income
~1000k
>Financial question

Should i spend 20% on my savings on crypto and if yes which ones?

>Age
27
>Savings
None
>Debt
None
>Monthly income
$1500/month
>Financial question
Security field. I have to leave my company to get a better paid position. Which I want to do this year.
My boss will be heartbroken that a valuable employee is leaving. I want to know how to leave with grace and respect.
Also, would it be ridiculous to start a linkedin profile?

>>607545

Kek Can't see Australia, Canada and England holding their AAA rating when their obscene private debt levels implode.

>Age
25
>Savings
0
>Debt
-$6000
>Monthly income
$2000
>Financial question
How do I get out of the Jew city of Adelaide and make real money?

>>607032
I thought - fuck it - and went and applied yesterday evening... Looks like they are giving me one with a $7500 cap. The minwas 1k, so I was pretty surprised.

>>607554
>mad

Age:25
Savings: $40,000 cash
Debt: $5000
Income: $4500/mo pretax.
Question: how the fuck should I invest this $40k?

>>607545
make one of them kingdom coin, its being supressed and on the down low right now, only 1.7 million coins and price is low. altcoinkingdom.com will go ahead soon and will get pumped
other long term coin would be darkcoin

>>607267
I have a steady job, but I don't enjoy it. I've been employed here since I was 18. It pays the bills, but I've already learned all there is to learn here. I have no other skills besides this, so I'm not really employable. It just sucks to know that I'm already so far behind other people my age. If I did end up going to college, I wouldn't find a career until 30, and that's assuming I graduate.

>Age 21
>Savings ZERO
>Debt18,000 school another 750 in credit cards and another 400 for a ticket
>Monthly income $3,100 before taxes
>Financial question
I mean I'm making okay money for my age but living In the SF Bay Area is so damn expensive.
My question is how do I get myself out of this rut and start saving some money ??

>>607607
>move out of SFBay
>budget
Really all I can think of without knowing your personal situation. If you can plot your money, you can control it. If you can control it, you can save it.

>>607607
What's your rent? Do you have a car? Living in a city can be cheap if you're willing to just rent a room and give up the car.
Pay off your credit card and ticket asap. You should be able to do that in a month if you budget well.

>Age
29
>Savings
65k
>Debt
0k - Own both my house (~100-125k, nothing crazy) & my car (2010, paid off already)
>Monthly income
~3500 before taxes
>Financial question
Most of my savings is 401k/roth, I have about 10k saved as I've been looking at investing into the market. However, I am also at the age where I want to try my hand at a few business ventures, but even with the small capital ones I would need to use that 10k to get myself started. Invest? Or Business?

>>607263
25 isn't that bad man. I went back to school at around that age. Granted I was going back with an AA so i didn't have to do my general eds but I can safely say I wasn't the oldest person in any of my classes. Now it is a little strange to be in classes with some 17 or 18 year old but 9 times out of 10, you will out perform them because your going there with a purpose and they are going there because its 'what you do after high school'.

Pell Grants might be tough, unless your a minority of some type. If your white though, don't expect pell grants. There are a ton of scholarships though you can apply for and you should qualify for a lot of tax breaks when it comes time to file.

Only thing I would tell you, is if your going back at your age you want to know what your going in for. Changing majors a few times isnt bad when your 18 or 19, but when your going back at a mid20 year old, you really want to know what it is your going to do with your degree.

That isn't the time to get some degree because it "seems fun". You need to get a real degree that gets you a job with that degree. Shit like anthropology or political science or some humanties study or some other bullshit doesn't get you a job. It needs to be in a field you want to work in.

>age
25
>savings
like $300
>debt
-$750
>monthly income
unemployed...
>question
Should i get a microsoft or cisco certification?

>>607643
I was told that cisco and A+ is a waste because literally anyone can get them. I think work experience and schooling is more valued.

>>607643
>>607651
>cisco and A+ is a waste because literally anyone can get them.

This is true but it's not the whole truth.

They are easy to get if you prepare or even get a test prep for them but people who do hiring look for them. You may then have to get to the "tech guy" who will do a knowledge screen and he won't give a shit, but getting to that point is easier with some certs.

>>607651
>>607643

Cisco cert isn't useless. A+ is to anybody that knows computers but there are a few companies that simply won't even hire you without it, but anybody that knows technology knows how stupid it is.

However, Cisco CCNA is not worthless at all. Obviously experience is more useful then a CCNA but schooling isn't. But even a lot of jobs require you to get a CCNA, for example I'm the network admin for the city I live in. I was able to get the job, but I had to have a CCNA within 6 months or I would be termed. Granted they paid for classes & the test so it was easy enough but it is required. There is another company that I had applied to for a bit, without a CCNA you won't get a call back, regardless of experience.

I will say though, if you want to make some serious money. the cisco voice cert seems pretty descent. The job I was applying for was about ~60k, the voice one was 85k and they were having trouble filling it.

>20
>$200 (weak as fuck)
>0
>$956 + whatever I get from odd jobs
>how do I rich nigga?

>>607662
There is another component to that. Just like you found that networking and voice are going together hand in hand so are networking and security.

In a few years, pure networking jobs will be gone. You might be able to find one at a telecom, near the core but even now they are injecting shit there. We have "cloud" and ddos services that are right there in the core of our net. (I work for a major telecom)

>>607669
wait what do you mean pure networking jobs will be gone?

>>607669
Yeah security is also only going to be a growing sector.

>>607676
He means that most places are going to be looking for network engineers or admins that specialize (or have a background) in security as well as just networking. Soon its going to be pretty much a mandatory requirement.

>>606831
Ok my turn
>Age
28
>Savings
10k
>Debt
3k on credit cards, 6k business loan, 22k truck
>Monthly income
5k self employment income so high tax rate.
>Financial question
None right now

>>607681
Depending on what your "savings" are or if your saving up for anything in particular, paying off that debt with the savings will do more for you in the long term, it just sucks not to have the savings.

>>607679
son of a bitch.
I cant hack for shit.
Maybe i should just become an electrician...

>>607676
>>607679
Yeah. Even if you are a "Network Engineer" in 2020 you are going to be expected to understand security principals and build and maintain networks while being security focused.

>>607686
>hack

Jesus. That's not really what I am talking about. That's why you need to get familiar with it.

>>607693
well if you cant hack then youd probably do a poor job securing the network

>>607695
Hah! Wow man. You really do know shit. Read a CISSP book.

Also, that cert opens a lot of doors with big money behind them.

Everything is myself + wife.

>Age
27
>Savings
$11,000
>Debt
$250,000
>Monthly income
$9,000
>Financial question
Should I try to start a business on my own, or just finance someone else's dream?

>>606851

Use loyal3. They don't get all the IPOs and you might not get a full order but it's your best chance into hopping on train.

I will warn you in that you should sell your shares right away for instant profit. You will be blacklisted. It's generally frowned upon to do that. Hold for a good week or two at least.

>>606931

Either med school, law school, or dentistry.

>Age
19
>Savings
$200
>Debt
$0
>Monthly income
$400
>Financial question
Will I make it?

>>607868
Way too soon to tell. It depends on your vision/plan. But without that, you definitely won't make it.

>>607852
>>Debt
>$250,000
what's the distribution on that, primarily you or your wife?

>>606831
>Age
26
>Savings
around 8k
>Monthly income
+- 3000 ( 2100 after taxes), actually a pretty good income considering the country I live in (Netherlands) and my age. Also I will get promoted in april :).
>Financial question
nah

>Age
27

>Savings
~$165k USD

>Debt
$0

>Monthly Income
$7000 - $10000

>Financial Question
I'm thinking about getting into futures trading, what are some good websites / books / youtube videos to get me started? I'm already pretty well versed in trading stocks and technical analysis.

>Age
19
>Savings
$4.06
>Monthly Income
1800 after taxes

how do u not spend your entire check in one go like fuck

>>607896
$135,000 is mortgage, $70,000 is me, $45,000 is her.

>>607933
Mortgage is generally considered "good" debt. Breaking it out gives a better view of your finances.

>>607852
>Should I try to start a business on my own, or just finance someone else's dream?

You should pay down the non-mortgage debt as a priority for sure.

>>607526

How did you get out of Dental School at 23? Are you in Yurop?

>>607938
Yah, that is our currently plan. With mortgage debt considered as 'good debt' and our student loans having almost a 2% higher interest rate than the mortgage, we are aggressively paying off the student loans. If I were to do something else with our extra money, do I need to look at it from a 'I need to have a return larger then my student debt interest rate' angle?

so how is that that predominately everyone responding is a well off mid to late 20 year old, especially considering 4chan's demographic?

or are most just not willing to respond?

>>607948
>do I need to look at it from a 'I need to have a return larger then my student debt interest rate' angle?

Yes and no. If it's retirement then put it in and don't worry about returns in the short term. Invest it well and leave it. If you have extra money

See pic related.

>>607948
It would need to have a higher return rate than your student loan's interest rate AND be guaranteed to generate those returns for as long as you plan to hold your student loan debt before it would be worth it IMO.

>>606931
$350,000 debt in my house which is worth $450,000 and the rest of my debt is car.

I'm not happy with my financial situation. I can never get ahead because every time I start to, unexpected bills keep coming up. $10,500 in unexpected bills last year, $5500 unexpected house repairs the year before and $2000 for an operation which I require later this year.
If I could have one year with no unexpected expenses I would be happy.

>>606924
>>606831
Depends on where he goes. I got my mortgage through a credit union. If your credit score is good enough, they will let you do %10 down with no PMI. There are also government programs where you can put less down. Sometimes as low as %0.

>age
16
>savings
4k
>debt
None
>income
300ish a month

>>607212
Do you have to fuck fat/ugly chicks, or are some of them "normal" looking?

Also, objectively, how attractive do you think you are?

>>608371
>thinking he's series

>>607940
no I just started

>>606831
>Age
23
>Savings
0
>Debt
1500
>Monthly income
0, just graduated and don't know how to find a job/internship
>Financial question
how do I stop being a lazy fuck who just shitposts on 4chan all day

real question: how can I make some money programming while I look for a career job so my mom gets off my case

>>608374
>>608371
>assuming he's a man

There's some real thirsty men out there. I've heard of men paying thousands to get pissed on or smell sweaty underwear.

>>608403
>get pissed on or smell sweaty underwear
literally two of my fetishes (im still a virgin)

>>608403
>thinking it's a woman

s-sorry for posting in this thread... I think I might actually have autism :(

>>606831
>>Age
33
>>Savings
56000 in stocks/bonds.
>>Debt
0
>>Monthly income
4200 net 5800 gross
>>Financial question
none

>>608426
>56000 in stocks/bonds.
Are all your savings put into stocks and bonds? Do you have a savings account in a bank or an emergency fund?

>Age
24
>Savings
Getting started
>Debt
0, love grants
>Monthly income
4333 before taxes
>Financial question
I'm just graduated and moved to NYC, and this is barely enough to survive even in Queens. Do I bail and move to a nicer state with a lower salary and tax, or should I stick it out and wait until I can be promoted to senior or manager first? (CPA firm)

>24
>$0
>$~20k student loans
>$0
>I'm actually a pretty decent programmer, I wanted to try to help out start ups for a year or so before I take on doing my own. I live in the middle of nowhere in the midwest and would need to move to an urban center, or the west coast. What is the best way to move with very little money?

>24
>23k
>0
>1200

How do I use my savings most effectively? I inherited a 20k check. That's where most of it comes from.

>Age
27 years old
>Savings
13k in an index fund.
>Debt
22k worth of debt - Law degree.
>Monthly income
Making $7000 a month before taxes.

If I could do it all over again I wouldn't have gone to law school. While I am earning a decent amount of money now my friends who simply got into business instead are earning more.

If you're smart and connected there is really no need to get too many pieces of paper.

>Age
30 years old
>Savings
Like 4k
>Debt
None
>Monthly income
$4600
>Financial question
What would be a good trailing stop % for a long position?

Also, who has significant savings laying around? Invest that shizzle. Make that money actually do something.

>>606831

>Age
24

>Savings
55,000 AUD

>Debt
350,000 AUD

>Monthly income
5000 AUD

>Financial question
Stock brokers? Yeah?

>>608510
Where did you go to law school? I have am attending Denver LS next year on a scholarship where half of my tuition is paid. I am looking forward to it, I am well-connected in the legal field and litigation seems genuinely exciting.

>>608517
Why are you investing (i.e. fucking around) with so little in savings

>>608541
Savings and net worth are very different things. I have no need for savings beyond a small buffer for a months worth of bills.
Although I do keep around 25k in highly liquid stock.

>Age
24

>Savings
Savings: 10k
Retirement: 16k
Shares: 52k

>Debt
0

>Monthly income
5100 before tax

>Financial question
n/a

>>607557
Move to Sydney or Melbourne. Share a room for 100pw until you get a decent job.

>>606831
>23
>$28k
>$0
>$3800-4200
Should I quit my current job (which is great working conditions, and somewhat relevant to my field) and go back to school for a Master's? I make $18/hour (in the Supply Chain industry) but my company gives me tons of overtime, and I'm not sure if it would lead to a six-figure income any time soon.

>Age
18
>Savings:
None
>Debt:
None
>Income:
None

I'm in the process of joining the Royal Marines. Since my cost of living would be pretty low, should I invest most of my money in mutual funds?

My thought process was that I would save/invest most of my cash and probably become an Angel VC after 4-5 years of saving. Any time I get off would be working on part-time shit, or internships for dat dere CV.

Thoughts?

>>607577

Any advice for this?

>>608682
Stay where you're at. You're making decent money and there's no guarantee of a job just because you get your masters. Get more work experience. Unless you lose your job, then I'd go back to school.

>>608874
Real estate. Put a 10% down payment on a house or condo. Rent it out. Rinse and repeat until the property is paid off. Then sell it for a profit.

>2400 income

How do you get that much?

Boy is my country shit. I am an experienced C abd Java programmer and i get paid 1k monhly barely.

>>606960
How the fuck did you save 30k when you earn 12k a year?

>>608878
>Then sell it for a profit.
i never understood this. when you sell you'll get hit by taxes unless you lived there for 2 out of the last 5 years i believe, which you didn't since you rented, and then you get fucked by all the closing costs since you are the seller.

i'd much rather just keep the property and continue renting it out unless it went up substantially in value, and with the current market that's rather unlikely.

>>608892
2400 a month is nothing. I have no skills and surf the web all day in an office job and make 4000 a month plus commission for the moments I spend "working"

>>608892
I earn that much in £p/m. Emigrate dude.

Source; immigrant.

>>608896
Guess ill Have to move the fuck out of this shit country. I'd never work For less than 5000 in the states.

>>606831
>Age
23
>Savings
$500
>Debt
$0
>Monthly income
$650-$1600 Avg, 15-20k yr
>Financial question
I have rich grandparents who think Im smart as fuck; willing to invest in any venture I choose.

How do I take 50k and make 50k; turn 50 into 100 then take that 50k and do it again keeping all profit. I have loads of free time.

>>606867
>Hospital bills.

Just don't pay them. In ~3-5 years (depending ont he state), you are forgiven of them as long as you make zero contact with anyone seeking payment for those bills.

>>608937
I already set up a payment plan. It should be payed off in about 16 months.

>Age
25

>Savings
28k

>Debt
170k (mortgage)


>Monthly income
5000

>Financial question
I need to start investing. Can't be fucked to read since I'm working on personal projects all the time. I'm thinking just open a Vanguard account and invest through there?

>Age
19

>Savings
$105 (srs)

>Debt
$17k in student loans

>Non-financial assets
Two years into ivy league degree

>Monthly income
0 (student)

>Financial question
How the fuck do I pay for shit while I'm at school? I can't work, my classes take too much time

>>607857
Good lord that's how Loyal3 works?

Just go with Robinhood, they are an actual broker without any of that bullshit.

>>608400
App development.

Hire yourself out building good looking webshit for businesses.

Get a job in any office and automate away their workforce.

>>606831
>Age
19
>Savings
$6500
>Debt
about 8000 but i dont owe that till im done with college
>Monthly income
$1000-$1300
>Question
My car is falling apart and i was thinking about just flat out buying a new (used) one just straight up but i also would rather use my savings for when i transfer to a university what would you suggest?

>Age
25

>Savings
$40,000 Cash
$40,000 stocks
$40,000 equity in investment property

>Debt
$103,000 mortgage

>Monthly income
$3200 after tax

>Financial question
What next?

>>608958
Work harder and faster. Work your ass off on summers. Don't be like me and never work all four years, now I'm deep in 60k

>>609034
You're way more successful than me, but I would advice to turn the majority of that cash into some sort of investment. If you don't want any risk (Which I presume since you keep it as cash), at least invest it in something like T-Bills, or the like. Just to stop inflation from eating into it.

>>609009
>$1000 dollar income at 19
How?

>23
>£17K in bank
>No debt because parental privilege
>£19K per year while taking qualification that eats my soul :(
>How should I best make use of the money in my account? Currently living in a cheap flat paying little rent and bills. How best ought I apportion my money bearing in mind I would probably like to actually buy/share a place with the gf in a year's time. Having not been on /biz/ long, the best investment choice I've seen would be mostly placing money in an index fund and then have a small portion to stock and bonds for kicks... Any pointers?

>>609034

wife, kids, bigger tv, more stuff, bigger credit line

>>609084
$40,000 cash is usually in a term deposit earning about 4%p.a to combat inflation ;) basically its cash on hand for the next investment

>>606831
>Age
24
>Savings
700
>Debt
6400

>Monthly income
900

>Financial question
I currently work retail part time, I've got a years experience and my store likes me, I could get a middle management position as soon as I'd gain the qualifications(2 years experience), problem is retail is absolute shit, salaried managers are chinese slaves that earn 40,000 a year, are payed on a 50 hour a week rate and work 70+ hours constantly. Our Store manager has worked close to 100 hours a week and gone 27 days without a day off, I think the guy is getting Alzheimers or something from running on 4 hours of sleep everyday.


I need to get out of here and find an industry or career path that has a bright future with an eventual endgame job capped at 40 hours unless payed overtime and hopefully averaging less than 51 hours worked a week so I can have sleep and a life.

What do you guys think are great non college degree requiring career paths for someone to eventually live well on. That aren't trades, thank you.

>>609209
>24 yo
>$700 saves
>$6900 debt
*shudder*

>>609210
I had 6k but it all started disappearing when I was forced to live on my own, I've purchased a car(see debt) found a stable place and my necessary spending is stabilizing now. I really need to get a full time job, I just want to be sure where I'm going is worth the time investment.

I can live quite frugally, my monthly payments are extremely low so I'm not worried unless some other catastrophic thing happens, I just need more earning power and a solid future now that things are settling down.

>Age
25
>Savings
$3000
>Debt
$0
>Monthly income
$2150
>Financial question
Paying $1250/month for rent, cannot afford a home. What do?

>>609225
Move and pay less for rent. Save and invest more

>>Age
25
>>Savings
~4k USD
>>Debt
0
>>Monthly income
~1000 USD after taxes/month
>>Financial question
How much a month should I use for renting a room or a studio? If a room, should I get a cheap one for ~200 USD, or expensive as shit one for ~360 USD (which I know is very comfortable and may allow me to network with fairly successful people), or just a studio for like 400?

I'm in Poland before you ask why my salary is so shit.

>>609214
>>609209

there really aren't many options for high school grads that don't want to go into trades if you don't have connections to get your foot in the door. Maybe some sort of it certifications to get helpdesk work, but anymore they just ask for a degree because everyone has them.

>Age
25
>Savings
40k
>Debt
0
>Monthly income
3500
>Financial question
Wife and I make a combined 8k a month and have 100k in savings. No interest in home ownership with the house pricing in southern ontario. Not sure what to do next. Been to Tahiti, Italy and Greece in the past year. Next step is kids but that wont be for a couple years

>>606831
>>Age
31
>>Savings
$220,000
>>Debt
$0
>>Monthly income
$4,000 - was $9,000 until Nov 2014
>>Financial question
None

>>609228
Fair enough, at least that's something. I did plan to potentially go to school and get a masters but I'm on my own now and I felt I needed get a decent job which if it proved to work well could allow me to bypass schooling.

Idk why there are so many "college isn't necessary" promoters on this board and outside the internet with an outlook like that though.

>>609236
What did you do specifically to save so much?

>>609245
>>609236 - this is me, posted from phone, now at PC

I lived significantly below my means for 5 years. Gave myself about $700 per fortnight to live off and put the rest of my pay ($2,000+) in a savings account which I NEVER took money out of.

That worked well because $700 meant I never really needed to worry about affording groceries etc. for those 2 weeks, but it was too small to be reckless with in terms of "oh fuck I want to buy that TV/phone/cocaine etc."

Often when I did get the impulse to buy a big ticket item I would make myself wait until the next payday to have the money,and by then I had already lost interest in whatever it was I wanted..

No secret to saving $200,000 in 4 years other than to earn enough to save $1,000+ per week

>>609256
>$700 per fortnight
Does that include rent? Because otherwise damn that's a lot.

>>609009
Get a cheap reliable car(91 corolla or manual civic should be $2500 or less in your area, get it inspected at a mechanic/dealer, read the /o/ sticky), or get an honest quote on the fix for your car.

>>606831
>Age
20
>Savings
$400~
>Debt
$15,000 (College)
>Monthly Income
$200~ before taxes
>Financial question
How the fuck do I move out of this basement at 8/hr 12 hours a week pushing carts?

Dropped out of college due to lack of funds. Internet (That my father pays $120/mo for) is so shitty I can't do what I want to.. Had a tech support job for 16/hr full time for a week before they noticed I was using a hotspot and fired me.

>>606831
>Age
25
>Savings
6k
>Investments
35k
>Debt
8k - Car finance
>monthly Income
6k pretax
>financial question
Outlook on Euro as a forex?
Crude oil floor?
GE undervalued as a stock (my opinion), what is your take?

>>609262
>>>609256
>>$700 per fortnight
>Does that include rent? Because otherwise damn that's a lot.
Each time I was paid, I moved all but about $700 into the savings account. Most fortnights I would have at least $300 left so all but $400 of that pay would go straight to savings. Some times if a lot of bills came at once, it would be closer to only $100 left, and I might have to use a bit of my new payday to pay off a few others and only manage to save $1500 or so for that fortnight.

On the flipside, now I have nfi what to do with the money and I don't feel particularly fulfilled. If I could find a way to earn 10% off of it each year I'd probably retire to a simple life somewhere. I've opened a Vanguard account and have a bit of money in some of their funds as an experiment.

>>606831
>Age
32
>Savings
$2,000
>Debt
$380,000
>Monthly income
$2,000
>Financial question
I feel like it's time to anhero. Got a good knot tieing guide?

No live in a shitty apartment until you pay off your debt you fuck head
I swear people are fucking stupid these days

>18 years
>$150
>none
>zero
>How do I get billionaire?

>>609315

>>609329
Thanks

>>609331
How do you have 380k in debt?

If some of that is mortgage subtract it out

Age 20
Savings $1,200
Debt $169
Monthly income $900
Question how do I make more money?

>>609338
>how do I make more money?
Get a marketable skill

>>609332
All $380,000 is mortgage.

>>606831

>Age
32
>Savings
200k, dunno what my pension NPV is
>Debt
-0-
>Monthly Income
7500 base.
>Financial Question
how much is dickbutt?

>>609342
Then you are a faggot.

#1 - a mortgage is considered a 'good debt' - mainly because you have an asset at the end that has a low depreciation (unlike a car for example) so it's not the same thing as owing money for college or credit cards or something.
#2 - Yeah, you fucked up by taking on more than you can afford. You may have to lose it or liquidate or something (bankruptcy). If you don't have other assets, and it sounds like you don't ,then you literally have nothing else to lose.
#3 - You can pare you life down to the bone. Reduce expenses, keep your head down and just save. This fucker did it - >>609256
#4 - Your attitude is 90% of your problem so to be honest you will probably keep fucking up over the long term because it's what is familiar and it's actually scary to do anything else. Maybe you'll get your shit together mentally. Most don't. If you do the money problems will start to get sorted out by your new found sense of logic and reason.

>>609342
how did you manage to get a mortgage that large with such low earnings?

>>609348
>how did you manage to get a mortgage that large with such low earnings?
Exactly

Either he took a serious dive in income (divorce?) or that's some seriously shady subprime/ARM bullshit.

>>609348
f-f-family trust loan ;_;

>>609353
That needs some explaining. But you don't seem to even want to engage so I guess you are here just to complain and masturbate to the public display of your misery.

Like everyone else in this world, you are your own worst enemy. Your problem is that you are too much of a pussy to fight back.

Have fun, faggot.

>>609355
What the fuck do you think a family trust is? Then you get a loan from it. At a very low non-existant interest rate.

>>609382
Most of us don't have family trusts so yeah I have no fucking idea why a trust would issue a loan you can't afford to pay back.

I also don't understand why someone with a family trust is such a sad sack over fucking money.

What is the actual problem? You can't afford the mortgage? What is the payment?

>Age
24
>Savings
$275,000 - $300,000
>Debt
$0
>Monthly income
$0, but I'm almost done with my master's and wrapped up some internship experience (a summer internship that got extended into the autumn)
>Financial question
Where should I move to be successful? I was thinking moving to a global city in the US. American here.

>Age
20
>Savings
~$5,000
>Debt
none
>Monthly income
$1,500 (living on the dole)
>Financial question
Is it worth the effort to get a job at this point?

>Age
23
>Savings
None, about £2.5-3K in current account
>Debt
About £24K in student loans, but this is England so it doesn't really count (paying back about £70 a month since repayments scale with earnings)
>Monthly income
£2334, pre-tax. Taking home just shy of £1800.
>Financial question
I've only been working 3 months, this is my first job ever. What should I be doing?

>18
>500pounds
>0
>0
I don't have a question. I'm doing everything I can to be as financially independent for my future as possible. It's hard since I'm barely an adult but I'm being as frugal as possible.

>Age
27
>Savings
43k 401k, 16k ROTH, ?5k TSP, 73k taxable investments
[total NW: 137k]
>Debt
208k, mortgage
>Monthly income
~5.3k gross
>Financial question
Why do libtards love "Muh free market" so fucking much? Have they never been raped by an employer?

19
4500 + half a degree
0 (Pay tuition in debit each semester)
Why do people let themselves get into so much debt at a young age in America?

>>607544
>it won't be implemented
>/biz/tards actually believe that the government can just leave tens of millions unemployed and nothing will happen

>>609787

To be fair the AUTOMATE EVERYTHING SO NEETS CAN RULE crowd is like 1-2 very autistic shitposters

>>609772
>~5.3k gross
What is your net and what do you do?

>Age
22

>Savings
$450,000 AUD in stocks + $140,000 unit

>Debt
$0

>Monthly income
roughly $700

>Financial question
It costs me $5,000 per year to keep the money managed and structured properly. Is it worth it? If not, what is the alternative?

And how does a 22 year old with no work history, social anxiety and a disposition for dissociating get work?

>>609776
There's no other choice really. Most cheap school are shit.

>>609802
Is the correlation of neets with dead parents due to their failures in life?

23
30k in the bank
no debt
no income but I graduate in may

>>606831
>Age
28
>Savings
289,000 (if you count paid-for house)
116,000 (if you don't)
>Debt
0
>Monthly income
7766 ("gross", before taxes and paycheck deductions)
5191 ("take home")
>Financial question
I give answers, not questions!

>>607116
I invest when I have 6 months of expenses existing outside of risk-based investments (bank account, CD ladder, whatever). After that, usually $100 is enough to start with some indexes.

>>607541
n

>>607577
index funds

>>607643
certs a waste, simply prove your skills

>>608924
Patience.

>>609034
Look into early retirement and financial independence. I recommend reading Your Money or Your Life. Keep up the current rate and you could stop working in 5ish years.

>>609085
Minimum wage... $1000/month is $12K/year. Minimum wage is $15K/year...

>>609209
Plumber, Electrician. I know you said 'no trades', but the career ladder is simple:
1 - junior X
2 - X
3 - senior X (owns a X business)
Its roughly $100K/year, and frequently outclasses people with PhDs in earning potential.

Electricians, plumbers, and others in trade fields are the most frequent millionaires. Read the Millionaire Next Door.

>>609307
This guy gets it. Also, he can probably retire (very simply, but w/e). You can do it if you can spend less than $550/month.

>>609772
Probably. There is a pretty strong (and reasonably well-founded) belief that the market can sort out all things. "If the working environment is poor, people will not work there." is the line of thought. Of course, things like workplace fires correct for that belief, but are also outliers.

>>609776
Americans love debt. Just freaking love it. People finance stereo systems. As a byproduct of this, Americans, on the whole, don't look poorly on people with excessive amounts or bankruptcy (small business startups). On the other side, we finance the fuck out of education while telling EVERYONE that college is for them, which is probably an idea that history will condemn us for.

>>609811
Ignore workplace fire.

>>609811
Also, I have solar panels, which have debatable worth. I considered them $25K in the above figures. They might have the following value:
$2K - how much my real estate market will pay extra for them.
$10K - the cost to a new homeowner to have them installed on another building (with subsidies)
$25K - the cost, prior to subsidies, of having them put in
$42K - they generate $140/month in "income/savings"

>>606831
>23
>400 $
>0 $
>0 $
> i quit my book keeping job because i was getting trichotillomania, insomnia and [/spoiler]fat[/spoiler]
the main reason i left was to pursue my art career which i know wont produce a large amount of income. i should find employment soon.
is there anything i can do to avoid bullshit in my near future? i have no idea how real life works aside from paying bills

>Age
>Savings
$2.46
>DebT
$10,000
>Monthly income
$0
>Financial question
How do you leave the grips of FBI agents and Masons fucking up your employment because you know their secrets and made fun of them for being total pawns of a system that abuse them and others.

I won't find another job because I'm on every existing list known to national security lel

What country should I move into to avoid these people?

>>606916
Wealth and genetics have correlation.
It's not everything, of course. But a big chunk, indeed.

Bracing for shitstorm

>Age
29
>savings
kek
>debt
80k in undergrad student loans
>monthly income
$1800 a month stipend
>financial question
I'm a PhD student, will I be able to make up for lost time when I get out?

>Age
23
>Savings
0
>Debt
0
>Monthly income
0
>Financial question
Just finished my totally useless masters in law. The labor market is filled with unemployed llm like me and the only thing i could do with my degree is to volunteer (read work full time for free) for some jewish lawyer. Obviously I can't live out of air.
I have about a year experience in managing projects from NGOs.
What does /biz/ think is a better idea, start learning CS/web dev or focus on searching projects to manage with my limited experience?

>>609865
Depends on your degree.

If you have a proven track record, the research companies around here (Florida) pay ~120K/year for someone who can be a rainmaker and manager. Continue your current lifestyle and you could be debt free w/in a year and own a paid-for home w/in 4. This is in engineering though.

Be forewarned of lifestyle inflation. You are going to want to have things like "a car", and eat things like "beef".

>>609929
PhD in genetics with most likely 8 publications when I graduate next year.
I don't want to go into academia and would not be opposed to stepping away from the bench; I've taken a lot of stats and programming ontop of my genetics courses.

>>609865
Depends, what is your PHD in? I suggest you live as frugally as possible to pay off your debt as early as possible.

>>609923
>masters in law
>not a j.d.
Why?

>Age
23
>savings
$1k
>Debt
$10k
>Monthly income
$3880 After tax
>Financial Question
Realisticly, provided my job is super safe, how many years should i pay off my home for?

>>609935
I'm from continental Europe. Not even judges have PhD here. And it's not mandatory for practicing law.

>>609945
At your age, 30y. Make an extra payment a year and it will help a lot but make sure your lender allows it. There are a tone of articles about the advantages and how to do it properly.

>Age
24
>Savings
2k€
>Debt
-14k€
>Monthly income
-200€
>Financial question

Is a CFA cert worth it?
I'm finishing a BSc in ET with Economics this year. I want to be self-employed.

>>606831

>Age
18
>Savings
£1000
>Debt
None.
>Monthly Income
£40
>Financial Question
I don't have a question.

>>610052
>allowance
i shit myself

>>609931
Just stay away from academia and you'll be all right. Save as much as you can and put it info an IRA when possible.

>>609801
~3500-4k/mo net if not contributing to 401k, depending on bonuses/PA cashin. Manufacturing technician nightshift, semiconductors. Gross last year was 83k with ~4k of overtime. 3/4 day 12 hour shifts.

>>610045
It only matters if you want to go into equity research. For any other job it's irrelevant.

It won't magically get you a job though, anyone can study hard and pass tests.

So tl;dr it depends what you want out of life.

>>610110
That's damn good for manufacturing. Congrats.

>>606831
21
$0
$1000
Monthly Income: $950

Trying to enter the oilfield. I pay $280 a week to live in a small wennibego.
I'm about to return to being homeless as I'm not able to afford food and rent. Are there any skills I could aim for that provide for better job income?
I need a job with alot of hours. I have a solid work history. But the Factory I worked at closed down, and so I'm starting over.

>Age
19
>Savings
600 in bank
>Debt
150$ to parents for tires
>Monthly income
1-1.2k
>Financial Question
What profession is the most secure in the Graphic Design field and I won't get shit on for when I start

>>608448
>Are all your savings put into stocks and bonds? Do you have a savings account in a bank or an emergency fund?

I keep $2000 in funds accessible via a 5 min walk to the bank.

I don't really count it as savings since 2k is nothing compared to 56k and it's an emergency fund/buffer, not a nest egg.

This is on top of my wife's 5k in emergency/buffer money, her 30k line of credit (she has zero debt too) an all of our credit cards which are paid off monthly.

I'm pretty well situated for financial emergencies.

>>608448
>>610174
I have always been confused as to the need for such immediate liquidity with emergency funds.

I have 15K in a betterment account and it's about 90% bonds. I can get that money in my checking account in 2 or 3 days.

Until then I have a credit card with a greater limit than 15k that I don't use.

The only situation I can think of where I would need cash immediately is to bail someone out (which I ain't doing) or to send via western union (which I ain't doing) because my emergency fund is for MY emergencies.

>>610179
>I have always been confused as to the need for such immediate liquidity with emergency funds.

In my case the funds are mostly a buffer. A credit card bill will come three days before my paycheck drops. I pay the bill and my emergency/buffer funds is now below 2k. Three days later, it's above 2k again.

I've had a situation where I had to transfer funds to an investment account and had a credit card bill come on the same day, two days before my paycheck drops AND I'll be out of town when it does. Solution: pay the bill, transfer the funds using the buffer. Now my account is at $400 for two days, but my trades settle when I want them to and I pay zero interest on my credit cards because I paid them off immediately.

My wife's 5k buffer is because our rent comes out of her account and if she keeps it above 3k then she gets 2% on the money, which is an amazing return on completely liquid cash.

>>610128
16% nightshift differential and 4 hours of overtime per pay period is the main cause of the good wages. Also, Intel, so the quarterly bonuses lately have been fairly good.

Thanks.

>>610169
Also I want a slice of that low oil pie. How do I go into investing into this stuff?

>>610208

dude, really?

>>610210
I'm a newfag to this shit and I'm too worried that anything I bring up on Google is just a ploy set by the Jews to scam us again

>>610119
Hm, thanks for your answer. equity research isn't bad. I'm interested in hedge funds, a bit of stocks and investment.

I therefore assumed the CFA is one of the better fitting certificates. What esle do we have? CPA? Very accountancy focused, imo.

I think a degree with a certificate is better than a degree without a certificate. Especially in the case of an ET&Economics degree. Electrotechnology just isn't finance-related.

>>610292
and asset management.

>>610292
There are quite a few actually.

http://www.300hours.com/blog/the-alphabet-soup-cfa-vs-caia-frm-and-imc#.VLNZkSvF_uM

I had to google it because I couldn't remember the names.

>>610295
Great link, man.

>CAIA is narrowly focused for the asset/fund management sector and it's a useful addition if you're in the sector already.

I think this is what I am looking for.

>>606831

>Age
28
>Savings
15,000
>Debt
530,000
>Monthly income
$8500.00
>Financial question
none

>>606831
>Age
21
>savings
$80,000
>Debt
$0
>Monthly Income
$6000 Gross
>Financial question
Okay so I am able to bank about $30,000 a year in a savings account that gives me 3.6% per annum, but this is not cutting it. I've forcasted that by the end of 2016 I will have close to $150,000 in the bank. I am not from a financial background so I want some advice on what to do to with all of these savings. Property does not interest me at the moment because it's a looming disaster in my country.

>Age
19
>Savings
410€
>Debt
zero
>Monthly income
50€
>Financial question
How can I invest my first 1000€?

>>610498
How about you invest in some classes or textbooks to help you get up to speed on financial matters?

>Age
20
>Savings
~20k
>Debt
10k
>Monthly income
2,000$ (after tax)
>Financial question
I feel quite ahead of my age group. I want to keep it that way, feeling superior is quite nice. Should I play the market safe and slowly fall behind my peers as they come out of university and get real jobs paying ~100k/year or should I play it risky in an attempt to blast ahead of everyone?

>Age
22
>Savings
$4,000
>Debt
$29,000 student loans
>Monthly income
$2,050

been out of school five months and employed for three.

>Age
23
>Savings
€850
>Debt
€1000
>Monthly income
None atm

Not doing any studies yet and can't really do anything untill april 2015
How fucked am i, /biz/?

>Age
22
>Savings
3000
>Debt
0
Monthly Income
500 euro
Financial Question:

I see a lot of people here that are the same age as me, but earn a hell of a lot more then i do.
Are you full time workers of students with some smart earnings? I'm still studying, so i work only 2/3 days a week. Can you help me?

Thanks in advance.

>>610903
I'm 22, making $15/hour. I started at this company 3 years ago making $10/hour. I've gotten a $100 raise every year. I wouldn't say I'm making a lot. it's only ~30k a year

>>608937
does this not fuck your credit?

>>611027

a lot of people here are no-life single males who went to college and got decent jobs and after a few years of living with mom and dad with almost zero expenses have managed to save substantial sums.

>Age
23 years old
>Savings
$3,000
>Debt
$0 (thanks for the foresight mom and dad)
>Monthly income
$0 right now but when I graduate nursing school should be around $4,700 a month. I will be living with my girlfriend after I graduate so my share of rent/expenses will only be about $1,300 a month max and that's way overshooting. I'm hoping to start saving immediately and have quite a lot saved up before I go get a masters/doctorate.
>Financial question
None, first time viewing /biz/ and have learned a lot in this thread so this is just a bump.

>Age 28
>Savings 4,000
>Debt 65,000
>Monthly income 4600
>Financial question should I put extra income toward paying off loans more quickly or toward investments that generally give returns a few points higher than my student loan interest rate? Also, how to make more money if you're smart?

>>611215
Good luck dealing with the estrogen hell that is nursing

>>611221
Grew up with a sister so I can handle it. From what I've seen so far it's not so bad and as long as you're a likeable and semi-attractive guy shit gets handed to you. The glass escalator is huge in this field and for any guys looking to get into medicine I'd say this is the way to do it (was planning on going to med school when I got into college but finished up my biomedical science degree and landed on nursing when I saw how the field was transforming).

>>611225
Fair enough. My wife is an RN and apparently its catty women all the time. Then again I work in an office and its not much better

>>611229
The nurses definitely act differently towards my female classmates than they do towards me. Then if I see that someone is having a particularly bitchy day I typically stay away and just avoid the whole thing. Just like any other business it's all about how you talk to people and I have an advantage because I can also subtly flirt to get ahead.

>all these people making so much less than me with so much more in savings
>tfw all your money goes to paying off debt

>>606831
19
$70K + 57K land plot + quadraplex (under construction)
$300K builders loan

The renters will pay my mortgage. I also earn over 100K per year.

How long should I wait until I get another loan for another property acquisition?

>>611268
I have no knowledge of property acquisition so I can't answer your questions but why did you decide on buying/building properties? What problems have you run into? I'm thinking that I want to get into that as soon as my savings reach what I want.

>>606831
>Age
25
>Savings
~$2,000 (Company owes me $3,200 that I invested over the last few months, so that comes back to me soon)
>Debt
$1,200 on my credit card, but no interest until July and I pay $100 a month on it instead of $25. Also just paid off a $20k business loan 4 months early (8 months instead of 12)
>Monthly Income
Around $4,000, give or take a few hundred depending on the month (seasonal sales here)
>Financial Question
How the fuck do people go broke? I could have a mortgage and a new car and go out and still live on less than $25k a year... Also, what are some good ways to enjoy my money? I'm partnering with a new business soon and will be making around $120k a year... I need to learn to enjoy my money.

>>611273
My oldest brother is very successful and he's investing all his cash in rentals. To me it's a no brainer, little risk and excellent profit long term.

You drop 10 or 20% (might be more or less, in my case I paid cash for a $57K plot of land in a nice subdivision and my loan is 300K for 4 town homes), the bank loans you the rest to build the property (or to buy a foreclosed property, much less expensive)..

Once it's finished you rent it out, and the rent you get is always higher than the mortgage payment, so if you did nothing to pay it off early, after 8-10 years with the rent alone, you'll own it outright and have a guaranteed income stream for life. If I ever need cash I can sell off 1 or 2 units for ~$119,000 a piece.

**Important tip. If you are going to build a quadraplex or a duplex make SURE whoever builds it splits the properties up into individual town homes instead of one giant building. This way you pay 25% tax bracket instead of a 40% commercial tax bracket.

To me there's no downside except having to deal with renters (mine is still under construction so I haven't dealt with this yet), many landlords opt to have a company manage renting out the places, repairs, collecting rent etc. For 5-8%, I'm going to do it myself.

(cont)

>>611280
These 4 will bring in $825/month each, mortgage is approx. $1,400/month

$825 x 4 = $3,300
-1,400 =

$1,900/month extra before other expenses (utilities, insurance etc). I'll be using everything + my own money to pay it off within the 5 year balloon.

After it's paid off I'll have a guaranteed income stream of nearly $40,000 per year.

Imagine if you owned 10 quadraplexes ($33K a month, $400K per year) , or 20, or 100...

After a while you can use the rent of just a few months to buy properties in cash, or do whatever the heck you want.

>>606831
>Age
24
>Savings
29k (22k in retirement fund, 2k in mutual fund, 5k in TFSA)
>Debt
None
>Monthly income
2400
>Financial question
How can I turn the money I have into a passive income generator?

>>611280
>>611289
I remember you. You're like the one person who posts on this board who I don't hate.

>>611289
See I want to buy then rent out houses in the college town that I lived in during uni. There are hundreds of houses that cost around 150K-200K where the rent would be at least 1,000 a month. I'm just worried about upkeep and property taxes kicking my ass.

>>611297
His post style is the same as of the guy claiming he built a house and rents the basement, except this time it's town homes.

>>611311

nice dubs

>>606831
> Age
23
> Savings
0.
> Debt
0.
> Monthly income
120$

Feels bad, man. I still have a couple of classes to finish at uni, so I will be in a deep financial shit very soon. But, who cares, one can always just an hero or escape into the world.

> age
19
> savings
around $200 in the bank, stack of emergency cash I haven't counted hidden under my bed
> Debt
0
> monthly income
~$1000
> Finance question
currently working shit tier grocery job at 9.25 an hour, what would be a good plan for me to make my goal of earning at least 5k or more a month. Handy with computers, have cisco certifications, studying for A+, acer certified, working on Sony and HP. Haven't gone to college or uni yet because can't decide, l.

40

1.6 Mill house paid off
about 300K in savings, but only a few K liquid
unemployed mainly since i was 22 and graduated
I have no idea how i did this

>>611641
1.6 million dollar house and not employed
how man?

>30K worth of debt
>Wants to buy a home

America, ladies and gentleman

>>611311
I'm not the guy who built the house (I posted in that thread though)


>>611297
One other thing you can do is buy a foreclosed duplex, live in one half and rent the other one, you get to live there for free while their rent pays the mortgage.

>>611657
kinda because thats how much house prices went up where I live....they never went donn just up then flat then up then flat.....in the gfc just flat or up a bit.

TBH 1.6 million doesnt buy you a great house where I live.

>>610179
Emergency funds are for emergencies. In general, I usually draw up two following two plans:
1 - House floods. Have to live in a hotel for a month. Have to repair house. Will be reimbursed by insurance company, but later.
2 - Everyone fired or laid off. How many months can we go before we go underwater / make hard choices (which bill to pay? What is minimum to eat?).

>>611279
Dude. You are a few months of "unemployment" away from broke. You have a $2K/month burn rate and $2K in savings.

>>611280
Note that this is a job. Dealing with renters, repairing a building, etc. Don't get me wrong; I worked this plan by renting out rooms, but the amount of effort is non-0.

>>611311
Don't knock it man. Room rental rates in my area are $400-$500/month. Mortgage is $800/month. 3 bedroom house was paid off somewhat quickly (5 years) through roommates.

>>612283
I appreciate the criticism.

>>611279
I said I could have a mortgage and new car. My current output is about $1,000 a month, while I'm bringing in around $4,200 a month.

I make about $50k to $60k a year, so $35k-$45k a year is what I save. Since last April, I saved up $25k, but had a $20k loan to pay off. I own my business, so I'm good with job security, and even with my worst month of sales, I still make more than I need to survive.

I wasn't trying to sound like a cocky asshole when I said "How the fuck do people go broke" I was asking because I have friends who make as much as I do and don't have a dime at the end of the month to go out and do anything. I honestly have no clue how people can spend that kind of money. If it weren't for the loan, I'd have more money than I could possibly spend in a year.

>>612283
>1 - House floods. Have to live in a hotel for a month. Have to repair house. Will be reimbursed by insurance company, but later.
>2 - Everyone fired or laid off. How many months can we go before we go underwater / make hard choices (which bill to pay? What is minimum to eat?).
Yeah I get all that. It's why I have a six month fund. The liquidity of said fund was my question

>>611862
It really is amazing. I know older couples with mortgages, house payments and medical bills that STILL finance brand new cars every couple of years. Most Americans are addicted to debt and it's sad.

>>612461
Do they have really nice cars? Do they live in really nice apartments/houses? I bet they also eat fairly lavishly and don't cut the corners you do in daily spending. Small and unnecessary expenditures can really add up at the end of the month if you don't monitor them.

>>612542
That's the worst thing, they don't have anything to show for it. They have roommates, drive used cars (less than 20k). They just eat fastfood and go to bars all the time. It's amazing how quickly people can blow through money.

I'd rather reinvest my extra cash into my company and make money on it instead of blowing it at the club or on burger king.

My biggest issue is that over the past 5 years, my friends have done nothing different while I've worked to build a business for myself. Now that I've done it, I realize I can't relate to any of them anymore and have nobody to talk business with... mostly the reason I've started coming here.

>Age
22
>Savings
11.1k
>Debt
$400 on a credit card, nothing else
>Monthly income
Varies but let's say 1k, 12-15k a year

>Financial question
I stopped going to school a couple years ago to focus on saving money and buying a car (working in retail), and I know my family isn't interested in helping pay for my education. As someone who's a bit on their own financially would it be more beneficial for me to start going to college again for a degree (I've been thinking about advertising) or should I just join a noncredit program to quickly get a moderately higher-paying field (nursing, vet tech, medical transcription ect).

>>612983
Honestly, do whatever you would enjoy doing. I've scrubbed conveyor belts in a shrimp factory, I've been on call for a realtor as an assistant and I've shoveled thousands of pounds of ice while knee deep in it... money is nice but if you don't enjoy your job, it's not worth it.

I'm only 25, so I know there are others who have had much worse jobs than I, but I kept looking and looking and found something I'd enjoy, then went from there. I don't hop out of bed every morning, but I don't dread it either. If I had to get a degree to do what I'm doing, I would have in a heartbeat because it sure beats doing something that bores me or I hate, just for a few dollars more an hour.

>>612999
good advice right here