/biz/ - Business & Finance

28
250,000

>>658836
-21
-$0 (Assets=liabilities)

22
-$30,000

22

200 usd and one onahole

23
-25,000$

33
(34k)

>>658836
23
-10,000

27
-$24,000 (just bought a new car)

>>658886
wow that sucks ass...Do you have kids or something?

21
50k cash
10k stocks
70k in government mandated retirement. Though that money doesn't really 'exist'

>~5 years younger than real age
>~10x my real net worth

the thread

>inb4 butthurt

>>658898
Student Loans.

>>658906
So the idiot who has -$24k from buying a car is really at -$240k?

31
8K
Zero Debt and graduating in 2 months

18
A few hundred dollars

>>658836
21
$15,905

>>658920
What do you do, anon?

>>658909
It's financed, if I pay the minimum payment to maturity it will be $24k.

Really I paid $19k and I pay extra every month, and save money alongside.

>>658924
I live at home so its money that I've saved up from working with my dad, past seasonal jobs and financial aid

22
$130,000 in GIC's
$240,000 house
<$240,000> mortgage
-----------
130,000 Net

18
100k

35
$600k
corporate job and I'm a miser

>>658836

20
193k

>>658937

>entire house is financed

>>658836

19
zero dollars and zero cents.

>>658944

not necessarily true, the house could have depreciated a lot

>>658836
18
2,000 USD from working a McJob

28

~160k (85k house, 15k car, 45k in 401k, 15k in savings -- house & car paid off)

20
$13,399

>>658944
Took possession one week ago

>>658966
...so you did finance the entire house and his criticism is valid.
>>658931
That's dumb, yes.

21, ~$25k

>>658895
>Taking a loan to buy a car

25

zero

Will become a billionaire

1. 27
2. $785,000
Human resources executive pays well.

>>658971
Won't we all.

I'll be daytrading, but I don't expect to make more than $100k to begin with, over a few months. Then it's a slower (but safer) crawl upwards as I can trade full time, expecting $1m before I can retire (if I want to).

$1 billion? Forget about it. Yes, over 40 years, if you make huge amounts of money right now, but not otherwise.

>>658970

>not buying a Honda and financing half the car with a two year 0.9% APR loan only to reinvesting the money in a vanguard index fund

it's like you don't want free money.

27
$69k

>>658836
22
~$200k

>>658976
I'd never buy a car on a loan. Hell no. Second hand until I can buy one with cash only. I bet you'll buy a new one in a few years, too. Forever in debt.

Fucking americans.

>>658976
>he doesn't understand cash discounts, fees, risk-adjusted return, and taxes

>>658979
I should add that around half of that is from a signing bonus, which inflates my worth.

21
-$35k
($40k in loans, $5k savings)

I will need a car soon. My idea is to buy some used or junk car for super cheap, and then when that dies do the same thing rather than trying to buy a car off of a lot. Is this a bad plan?

>>658908
Ah well goodluck I would be depressed as hell.

>>658989
Best thing to do it buy a fairly recent used car that you can pay off in 3 years. If you just buy junkers, you'll keep going through them and spending money on repairs until you spend so much money over x years that you may as well have bought a new car.

>>658989
>>658995
Buy a cheap used car cash, just check the history and condition. There are new cars that break within a couple years and cheap used cars that will last over a decade. Shop around.

>>658983
>>658979

Nobody wants to respond and inflate my ego?

Would be useful, I'm depressed and annoyed as fuck.

>>658968
rental unit plebs

>>659000
where did the first $100k come from?

25
$5000.01 CAD

>>658989
>>658995
>Car that you can pay off in three years
Terrible idea.

Buy one that you can pay for right now. Research the brand, and get friendly with a nearby repair shop if you need to (they can find junk parts for you cheap - make sure it's a common car. Don't buy the cheapest car you can find, either. Look online what to look for on a specific car, before you buy it. Some cars can have rust problems, others electronics and so on, but many cars also last a good many years. You don't need all the features, as long as it works and passes inspections.

You'd have to buy a gigantic amount of repairs before you reach the value of a "recent used car", I don't know what that guy's on about. Cars are dreadful investments, value-wise, and it's not going to be worth it. Just research, look at /o/ for that stuff, they have lists and whatnot.

>>>/o/

>>659000
~$200k and you need us to inflate your ego? You're well on your way there. Consult bogleheads if you're uncertain of how to invest it. Good job, friend.

>>659002
First ~$25k was from working shit jobs (summer school, etc.) in high school and college. I've been working for 6 months, which gets me ~$60k, and I got a 6-month bonus of ~$15k.

I'm sitting on $2k in BTC, but I don't particularly count that.

>>659005
Employer 401k matches 50%, and it's through vanguard, so I just max that out. Target age retirement fund or whatever they offer is where I've put my money.

22
-10,000

30
290,000 house
-238,500 mortgage
-32k vehicle
-8k credit card

Net : +11,500

18
$45 in cash and debts owed
$2,500 in Blu-ray collection (it's worth that much , but I didn't pay that amount)

>>659013
Can you actually sell that collection for $2,500? If so, you really should.

Turning 27 this year.

My own wealth:

15k

Inherited wealth:

100k

I had a rough start, but starting this year I'm going to be able to save & invest ~30k yearly.

21
~15k

>>659010


What country?

>>659014
I have a lot of out-of-print stuff that goes for quite a bit more than what I paid. Just last month I sold one music disc for $120 that I obtained for $24. I'll admit that it doesn't make much fiscal sense to keep most of it, but this is kind of my hobby. I've spent years on it. Plus, I don't really need the money very much.

>>659024
And here I am worried about the fact that I keep ~$2k worth of BTC... I like having my assets liquid

>>659026
I have 100k in BTC and my net worth is 250k

>>659149

So your net worth is 150K

29
10 bitcoin

>>659013
>98% net worth in blu-rays
>>659149
>40% net worth in Bitcoin
>>659161
>100% net worth in Bitcoin

Explains a lot about /biz/

30
30k
Comfortable life.

>>659000
What kind of work do you do that gets you a $100,000 signing bonus at that age? I'm only aware of MBAs getting that kind of money.

28
About 480-500k

3 apartments
1st - worth about 133k, no mortage
2nd - worth about 225k, 93k in mortage
3rd - worth about 279k, 160k in mortage
Investments and money in savings accounts: About 95k
Also have some more invested in other projects, but don't have those numbers on hand.

>>658836
28
$310k
Half of that is made from stock gains over last 3 years

28
310K (both retirement and non-retirement)
+1000 bitcoins.

>>659219
i'm guessing that 480-500k includes the three apartments?

also, do you rent the apartments out? if so how difficult was it to secure the two mortgages as an investor?

33
about 150k EUR

20
$15400+
>haven't worked in 6 months, but doing a paid internship at a financial firm soon.

1) 19
2) $7800

22
$25.5k
problem is, I'm so stingy that I don't even spend on things I know will help me grow...

&gt;&gt;659219
Yeah, it includes the apartments.

I didn't have much trouble securing the mortgages. Have a decent well paying job, where my salary is about 90k before tax. And with the rent money included I should be at about 117k before tax, but after costs related to the apartments.

Forgot to mention in first post that I'm from Norway, so the whole process is probably different here.

>>659219
I would love it if you told me more about this.

Do you rent them out? What kind of down payment do you need to do on them? How much did you start with? How come you don't just do REITs instead?

>>658836
>22
>140k

where's da patricians at?

1. 24
2. 740k

80k saved from job after expenses
200k from parents
460k from futures trading

>>658920
You should buy a used corvette or other high performance used car.

Age 37
House - worth ~550k
Car - worth ~5k
Savings - 32k
Mortgage (210k)
Credit Cards (1600)

Net worth 375400

>>659243
>200k from parents
fuck my life

20
5k usd

Could be worse, I could have taken on debt for college

>>659285
29
$560,000 from grandparents

19
Maybe $22k AUD, so about $14k US perhaps? Feels real bad, man.

>>659261
>You should buy a used corvette or other high performance used car.

>Buying a car worth more than 5k when you're under 25
holy fucking shiggy batman

39
$39

19
~€19k

19
$38,000

Hope to one day hit thatt first million.

>>658836

31
50 bucks

-22 yrs
-atleast 2 million in bone marrow by selling at black market

28
20000

23

some 500 euros

>>659241

Yeah, I rent them out. The first apartment I bought with saved up funds, so didn't have to take any mortgage loan on that one.

The second one I got cheap, I paid about 110k to take ownership of it, and it had about the same in debt. The price has gone up in that neighborhood a lot the last years, so I was a but lucky with that one.

The third one I am in closings on with the deal. The contract ain't signed yet, but it's scheduled for the 4th of march.

I should be doing a downpayment of about 100k on it, and then a loan of 160k.

22
approx $80,000

>>658836
29
11euros

29
420 000 USD

>>658836
22
50k

>26
>0$/€
>living with my parents
>never had a job
>searching for it since i was 24

>>658836
28
-$25,000

I have some money in the bank but also owe on my business loans. I paid off about $15k of debt last year and will do at least the same this year.

>>658836
23
~15K USD

21
10k cash
67+k shares
50~k superannuation
60k car

22
-£25,700

>>658836
>27
>€0
actually, if i was to repay my mother for the money shes been giving me since she isnt liable for maintenance anymore, i probably owe her about 20k by now. i havent even finished my bachelors degree yet and job prospects for me are absolutely terrible. mom wants to retire early but she cant because she still has to pay for all my shit.

33

62k

pretty sure I fucked up somehow

23
(-60,000)

I'll get there.

18
€3000 (cash)
€550 (laptops+IPad)
--------
€3550

Won't have any student loans.

>>659463
where in the EU are you from?

>>658975
ha ha

>>659479
Germany

>>658836
17
$3,200 in the bank and around $600 worth of shit

datfeeling.jpg to know that all of you posting net worth 100k+ $ are only poor fuck fags who live by their parents and doesnt even have 1k $ ! no one with moniez would hang out in this fu board, he would 1. try make moniez 2. party with bitches .. ahahahah you poor fu fags, dream on!

>>659398
Statisics major? 300k starting? any job you want?

>>659500
>implying everyone with any money parties with bitches

25
~40k assets - 160k mortgage

25
275,000€ (Rentals, stocks & cash)

>>658836
im 28

>>659500

What's wrong with living with parents? Sure independence is nice but I'm content to live on their land for a few more years throwing everything into assets until I get about 250k to 300k saved up. What do we need liquid assets for anyway? I'd wager most of us are mid 20s with catastrophic insurance. I do have car insurance but I pay every 6 months. It's an easily anticipated cost.

>>659555
my first trips, ayyyy lmao

>>658980

I had no money when I got my first job. I needed to borrow to buy a car of any kind. So long as he balance sheet is positive, it can make a lot of sense to borrow. I am paying 400 dollars in interest over 5 years.

32
245,000 USD
(Which coincidentally is less than I had when I was 30 - spending 65k last year and 50k the year before really screwed with the finances).

24
275,000 USD

I'm graduating with a master's in engineering in May. Where should I move to?

26
$~900

18
Around 3 dollars

>>658836
26
Probably a little over 50k$ CAD

33

$65000+

19
$1048

25
~1000€

19
50k

24
-$25000 dollar doos

19
34k cash
2k stocks

>>658836
>>658836

20

334K

goddamn if I was most of you i'd just kill myself

>>659663
If I were you I wouldn't work ever again. You can buy 3 apartments in Moscow for that and live like a fucking king in Russia. I'm that 18 y.o. with 3 dollars.

>>658870
youre gonna be stuck in debt if you keep putting the $ after the amount you stupid fuck
$250 not 250$

19

$26 000 Own wealth

$45 000 CAD Inheritance

>having debt
>ever

>>659663
how? How did you make it?

>>658836
18
-$7k
I graduate uni in 2 years with a bachelors in CIS, after that I'll probably be at like -$10 - -$12k
yee haw

19

450€

29
pic related

>>658836
19
1800 + car

>>658836
24, about 0-15k, saving each month and working on becoming a CPA for better money. I should also be getting a lot of inheritance money later in life.

>>658976
>thinks financing a car is a good economic move
>would probably buy a time share too

Fag.

22, almost 23
$752.67 per month in SSI and SSDI.

21
Around 2500€
>Never worked on my life.

23

-$850 in the bank
-Rusty 2002 Car
-$1200 in computer parts that are slowly depreciating. (Could probably sell the computer for $1500)
-No Debt

What am I doing with life?

>>658836
20
$25,000

>>659568
What did you have to spend 50k on?

>>658836
26
~30K USD + car (~7K USD)

Feels little but looking at some of these posts really puts it into perspective.

>>659914
Even if your net worth is zero, you are ahead of the game. Most people are in debt.

>>658836

>21, but only started working a couple months ago

>8.5k €
>500 cash
>2k car
>4k lended to my mother
>2k lended to my father (they're separated)

Yes, I do realize i'll probably never see those 6k again, but they're my parents.

32
-200k

FML.

25

-$40,000, from my senior year of undergrad before my parents ran out of money for my tuition

>20

> ~9,000 TFSA
> ~12,000 Pension
> ~5,000 Net worth of Truck
> ~26,000 Total

people listing automobiles as monetary assets

MFW

>>658836
Almost 34
250k in stocks and cash
275k mortgage paid off - home is only worthy 250k though... fuckin shitty housing market

so.. half a mill before i start counting 401k and other cash accounts and cars...

i have a g8 gxp and a 1965 cobra replica, each are probably worth about 25k. The wife rolls an Altima, which we are thinking about upgrading to a Tesla S. But currently all cars are paid off.

Lets just round and say the wife and I are worth 600k.

looking to go buy a house in a better part of town. from owning a house outright, to having a mortgage feels like 2 steps backward.. but i know that keeping my cash invested and mortgaging at a 3.8% rate is a no-brainer... i will stop crying you a river now.. it's a good problem to have.

>>660142

>Thinking an investment is an asset.

>>660142

If you can sell it for cash, it has monetary value. Some cars like my cobra replica were built for 25k and have always been worth 25k and will always be worth 25k. It's insured through collectors insurance for agreed upon value of 28k...

Daily driver, you need, and selling it for cash would mean riding the bus or sharing a car with a spouse or something... but cars are fully fair to place into a net worth calculations. the equity you have in a car is capital that is under your legal control.

>>660153
>If you can sell it for cash, it has monetary value

Yet, as you noted, your daily driver has greater utility value than monetary value, so calculating it into your net worth is a little apples-and-oranges.

23

Like 20k or some shit

>>660153

That's like saying the net value of a company doesn't consist of the machinery inside of the factories because without it the companies value would be worthless.

please post a picture of your face when you realize that people actually do value companies by their capacity to continue to do business.

Assets have tangible value, the owner of that asset and tangible value is always calculated to increase the owner's net worth. it literally doesn't matter what that thing is.

the hope diamond
a car
a factory
an airplane
24 acres of land
a 401k
300 slaves back in 1850
bitcoins in 2035

they all have value and they all count toward net worth whether you agree or not.

26
$4.6k

I just broke the $0 line last month. It'll be going up by like 2.5-3k every month from here on out.

>>660175
>>That's like saying the net value of a company doesn't consist of the machinery inside of the factories because without it the companies value would be worthless.

When a company owns a machine there is an expenditure to get the machine, but it's value is what it produces, not what it cost to acquire. A company full of expensive machines that produce nothing is, in fact, worthless.

21
~$10000 (Paid off car + Bank Account (with no loans/liabilities)

>>660183

A factory full of expensive machines is worth the land the factory is built on plus the value of improvements (building), plus the value of all the expensive machines (minus depreciation).

In fact there can even be more value than that because the assemblage of all that stuff in one place can actually add value above and beyond the material cost of aquisition was. this is especially true when there is a revenue stream or expensive brand involved.

the company that owns that factory is also worth the value of the assets it has under control, minus liabilities. in a real life scenario - wages are a liability which would quickly sink a non revenue/profit producing company.

HOWEVER, since you haven't mentioned any liabilities, the value of the company is the value of its assets. IE, the land, building, and machines.

> it's value is what it produces, not what it cost to acquire

no, see this is where you forget that a company in bankruptcy sells it's equipment for MARKET VALUE, not for the price of whatever it was capable of making.

it is perfectly clear you don't know anything about finance, so just stop.

if a millionaire owns a half dozen antique cars all costing a million a piece.. i suppose those don't count either because they are cars and he would need to sell them, thus making him less of a millionaire?

No. As a thought exercise, imagine a millionaire that owns 2 honda dealerships and finances the entire sales stock position of the company himself. since he owns the dealerships and the sales stock, he could be said to be holding millions of dollars worth of civics. would you say this man is also not worth that money because he would have to sell those cars to realize their value? your process makes no sense at all.

anything owned by a person, that has value, ends up in their estate when they die. this includes cars, and a person's estate is very much the realization of a person's net worth.

>>658836

25
Probably about $15,000

Around $8,500 Cash
Another $4,000+ Owed to me (currently taking payments in monthly)
Also own my car, but it's older and not worth more than $3,000.

I also own three small businesses, which I could sell for around $50k or so... not sure if that should be counted.

>>660200

Yes, you're right, finance does have a lot of rules that make no sense outside of ledgers. Thinking like this is what gets lots of companies in trouble in the first place. Sell off a division so massage the monetary value of the company while the utility value of keeping the division is ignored.

>>if a millionaire owns a half dozen antique cars all costing a million a piece.. i suppose those don't count either because they are cars and he would need to sell them, thus making him less of a millionaire?

If he owns nothing but million dollar cars he is a potential millionaire, not an actual one. Same for your dealership guy. Lots of potential monetary value but little actual monetary value. Calculating potential values into one's actual net worth is making a huge assumption about the actual monetary value of those assets.

Now, let me be clear, something can be an asset without contributing to monetary net worth. I have $X,000 in monetary assets as well as tools and a car. The tools and car are of far greater utility value than monetary potential, furthermore, their monetary potential is unrealized, so if you ask me my net worth I'm going to say $X,000 plus tools plus a car.

23
>~$9,000 federal reserve notes

Stacking my paper hard to get 15k by my 24th bday

>>658836

19
$2,500

19
$15000

>>660237

Well helloooooooooooooooooooooo

>>660226
>Calculating potential values into one's actual net worth is making a huge assumption about the actual monetary value of those assets.

Where do you live where it is so difficult to assign a decent value to an asset? I live in the US. We have kelly blue book to tell us what a used car is worth based off year and mileage. We have sites like autotrader and craigslist where if you price a car decently it will sell in a week or 2.

We have comparable market sales to tell us what a house is worth based of $/sq ft in the same neighborhood or zipcode. We have property assessors that do that shit for a living.

we have a fast moving and liquid markets that will tell us what a share of apple is worth, and allow us to liquidate the position in 2 minutes if that is what we wish to do.


I don't understand why it is so difficult for people on this board to realize that assets have a value that is fairly easily calculated and those assets in many cases can be directly converted to a cash value pretty damn quickly.

everytime a net worth conversation comes up.. there is always some idiot with the "huurrr durrr cash is king, cash is the only thing that has value - PS I have 2 gold bricks buried in my back yard"

It would be hilarious if it wasn't so sad.

There is nothing wrong with assigning fair market valuation to all of ones assets for reasons of net worth calculations.

Now.. i will agree that i don't care what type of TV you own.. because i don't consider the 1k total value of your tv assets to be worth considering. not becuase it isn't a fair asset to assign value to.. but because the valuation is trivial for most people. what is a thousand bucks? it's a rounding error in terms of net worth.

but cars can be worth a lot of money. The average value of most posts around here seems to be about 50k or less. Including or not including a car is going to swing this by +/- 50% easily.

18
like $35k

>>658903

brazil?

>21
>100$
>not american

19
$2,550 from my McJob
What do I do now

>>658903

>I'm 20

>and have none of those

fml

>>658961
Thanks mom and dad

>>658989
> 2015
> owning a car

>>658836
1)18
2)$8

>>658836
19

hundred something grand i know of, probably more in other accounts/llcs in my name made by my parents as contingencies

jelly of self-made folk

21 as 9k

>>658915
how was being in school your entire life

>>659161
LOL

26
-$125,000

kill me please.

>>659322
:(

>>659341
why??

>>660396
seriously though someone come and put a bullet in my brain now pretty please

>>660106
how?

>>658886
>>658898
>>658908
>>658991

Early 30s guy making 34k a year isn't the most bad enough for you to be a dick about it

>>660106
law school?

>>658979
>>659000
You're a fucking hardo if you value yourself based on your net worth so I'm not going to inflate your ego

>>658836
>21
>13k

>>659341
Oh my-

How are you holding up???

>>660412

it's pretty bad. anyways that's his net worth not how much he's making

>>659880
im feeling ya buddy

I'm 16, I have 10K CAD. Working as a supervisor in a grocery store.

>27
>25500 PLN (yeah, thats right)
15k in savings acc/emergency gund
10k in CD (3 months @ 5% annual)
opened an IKZE account recently, only about 500 PLN


so yeah, currently reading up on the few index funds available in Poland before I start putting some cash there

>>660544
Oh don't worry, a portion of your salary is already being "invested" perfectly

>>658970
>not knowing how credit score works
You need to make loans to get a good credit score. You can't even buy a house if you've never made a loan before. Paying a bit more for a car over a long period of time saves you a lot of time and money in the future.

>>660577
>taking a loan to finance LIABILITIES
>ever

Look pal, I'm sure you see your shiny new car as an "investment" that saves you time, but you would achieve the same with a used one for a couple of grand.

22

~6k from retail job
~2k investing said income in stocks in 2013

>>658836
>19
>$4,000,000
And by $ I mean HUF

>>660577
This is wrong on multiple levels.
1. You can get a good credit score for free with credit cards.
2. You can buy a house without a loan.
3. You can get a mortgage for a house without a credit score. It's just more difficult.

>>660570
of course I remember! that's why I got an IKZE to begin with (thinking also about getting an IKE in the form of a brokerage account)

>>660570
also, where you from brachu?

>>660412
That net worth at his age is depressing as hell.

>>659353
You managed to save 133K by when? It's quite a lot of money.

What returns do you except on these?

I think I might win here.

29
≈£2500000

>tfw it's predominantly just thanks to rich parents

46
610k

27

£2000 in the bank

£20,000 in loans/debt

Also jobless

Suicide is seeming like a good option right now

>>660701
w-what do they do? lucky you :3

>>660699
I bought that apartment in May 2014, so closing in on a year ago.

I have been putting 5k NOK (approx 655 USD at today's exchange) every month into a savings account for the past 6 years, so that is 47.2k USD there.
Depending on overtime and bonus payouts, I also had between 5-10k USD extra per year there.

I also had a some payouts from a company I own 25% shares in, which totaled to about 40k USD over the past 5 years.

>>660807

That's mostly the value of my share in a family-owned property company. My dad made his riches in television.

19
€7k in savings account
€11k in stocks
I'm up about €600 since beginning of the year

>>660816
producer? what do you do for work?

>>659463
>mom wants to retire early but she cant because she still has to pay for all my shit.
If her retirement is dependent on 20k euros then she can't retire even if she kicks you out/makes you pay for housing.

>>660808
>I have been putting 5k NOK (approx 655 USD at today's exchange) every month into a savings account for the past 6 years, so that is 47.2k USD there.
WHY? You shouldn't keep that much in a goddamn savings account dude.

>>660825

He had a production company. I do property development, in the aforementioned property company.

>>660699
Forgot to reply about the returns.

At the moment, in terms of what I am paying and what I am earning, the budget comes down to approximately:

Apartment 1:
Income: 660 USD/month, total of 7920 per year.
Expenses: 53 USD/month, total of 636 per year. + 1 yearly payment of 393 USD for insurance.
Other expenses include Internet, TV, Utilities, Power etc, but they are paid by the person living there.
Net Income after tax: About 5002 USD per year.

Apartment 2:
Income: 1443 USD/month, total of 17310 per year.
Expenses: 1020 USD/month, total of 12248 per year. This has internet/TV, insurance, loan etc all included.
Net Income after tax: About 3705 USD per year.

Apartment 3 (Have someone moving in the 20th of March):
Income: 1700 USD/month, total of 20475 per year.
Expenses: 690 USD/month, total of 8272 per year. This has internet/TV, insurance, etc all included.
Loan: 900 USD/month, total of 10798 per year.
Net Income after tax: About 1025 USD per year.

On all expenses I am able to claim a 27% tax deduction, which totals to 5820 USD in deduction.
I am also able to claim 27% tax deduction on all interest paid on the loan, but I don't have that number here.

On average house/apartment value rises 3-6% here per year, so this also allows me to get decent profit if I sell any of the apartments in the future.
All three of them are located in popular areas, so it should be little to no problems doing so.

- 21
- 2000 euros in savings

Only started to save money a year ago.

>>660834
It had between 3.3 and 4.2% interest, so it wasn't too bad.
I did also put some of it into stocks, and also bought shares in that company.

At the moment I have spread it all around to a BSU (savings accounts for house/apartment here in Norway) which has decent interest and also gives me tax deduction.
Some into a few funds and stocks, but nothing too major there, and the rest is ATM being used to pay down debt on apartment 2 and 3 once that loan starts rolling.

I do expect to be able to pay most of it within a 5 year year period, if nothing serious happens with any of the apartments/they stay empty for a while, or the company I have shares in suddenly stops being profitable.

At the moment I am expecting a payout of 22k within a few weeks from that company, which will go towards the first downpayment on the loan.

39
$216,000.

>>658836
35 Married
Combined 1,000,000 CAD

Mostly because I bought a home in Toronto in 2001 - I still owe $87,000 on it from the original $220,000 I paid, kek

20
-$1700

24
about 330,000 euros
have a small IT company for a few years now. primarly in the ecommerce. Building apps and themes for platforms like shopify. But sometimes building shops with magento.

Combined with custom made connections which automate work processes = €€€ (hourly rates above 100 euros ex vat)

>>660896
forgot to mention i live with parents for now. Just to save a little bit more and buy a nice house probably next year.

House prices here in Holland are way higher than USA. For like 150K you have a shitty terraced house. Decent houses start at like 300K. That's why 99% of the people here live in shitty small houses

22
£20k

I feel really pathetic right now. I want the big monies, but just feel it's out of my grasp.

>>660900
Don't. 20K pounds for a 22yo is pretty much. More that i had back then ;)

20
(40,000)

Gotta love that ONE YEAR of private college (with state university only adding around 3k onto my debt per year).

>>659209
The wild goose chase kind

>>658836
Just turned 24
50k

20
667,456

>>660780
any proof of your oldness? like hand, penis, sotmach?

or photo of daughter ;')

19
11k euros

34
220k liquid
310k equity in real estate

(Pic related, it's one of my liquid accounts)

33

almost USD4500

>>659001

Im not sure you understand.. he is commenting on you not making a down payment on your mortgage, which seems rather farfetched. As a fellow landlord I've never heard of that before, but maybe I'm just a newb.

25
$90K

>>661077
nevermind i had more than i thought

>>660842
>On all expenses I am able to claim a 27% tax deduction, which totals to 5820 USD in deduction.
>I am also able to claim 27% tax deduction on all interest paid on the loan, but I don't have that number here.

These are the slumlord tax breaks that i have mentioned before.

I'm soooo happy that as a tax payer I am subsidizing your fucking sideline revenue streams.

I know you are probably thinking "wow.. this guys mad" well.. I am. these are absolutely the biggest fucking bullshit tax deductions that there are.

you'd make money without them. it's not like the tax deductions are needed to keep land lords servicing the rental markets...

>>661174

like is said black people probably moved in next door and the house depreciated

>>661211
He said he just bought the place last week nignog

>>661215
>He said he just bought the place last week nignog

>>658968
>...so you did finance the entire house and his criticism is valid.

That post isn't criticism. It's actually the explanation. Muslims don't believe in traditional western financing because payment structures like the ones created by western banks for mortgages are seen as abusive in islamic circles.

because of this they have their own banks and way of doing the maths that are "absolutely haram."

The person that commented that they were unaware of this type of financing activity is just ignorant of the ways of the islamic bank's halal mortgages.

>>661223

Gotcha, I didn't realize you could get a mortgage without a down payment if your muslim... with those kinds of incentives maybe I should convert to islam!

>>661238

The house comes with 72 virgins and everything it's awesome!

19
$640,000

Parents and baby sister got killed by a drunk driver three years ago

>>661248
is it worth it

>>661248
>>661272
Yeah... Is it worth it?

In my opinion 640k doesn't nearly do you justice for the death of both parents and a sibbling. There's slip and fall lawsuits where prople get that ammount for just breaking a hip.

>>661248
did the drunk driver die?

>>661209

Yeah, I don't disagree with you. The system is quite abusable.

In Norway (maybe other countries too, but I'm not sure?) secondary homes also have a different tax value.
Your primary home has a tax value of 25% of the value, and secondary homes have changed from 60% to 70% starting from 2015.

This also makes it more valuable to have your money invested in real estate than in f.ex shares or normal savings accounts, which have a tax value of 100%.

18
200$ per month
emr-665@hotmail.com
Can you send me just 1$? Oh thank You, Sir!

>>658836
i wonder what her cunt smells like

>>658836
>>658842
>>658843
>>658866
>>658870
>>658886
>>658895
>>658903
>>658915
>>658920
>>658931
>>658939
>>658937
>>658941
>>658943
>>658944
>>658957
>>658961


You're all full of shit.

90% of people on this thread are saying they owe more than 200k, if that's the case why am I only seeing shitass 1.5k cars on car threads ? Why am I only looking at shitwatches on watches threads ? Why most /biz/'s investment advices are uneducated fuckshits ?

Fuck all of you saying you're fucking wealthy when you're just jacking off at your parent's, just be honnest for a sec you lying cunts.

Most of you can't even maths or finance properly, how do you expect to have 9000k on your own ? Oh yeah, 4chan is full of billionaire's sons.

>>661379
I am a millionaire and I have worked with a number of other millionaires in a field where he all make ~100K.

I just sold my 1996 Corolla. I was filling it with gas and the gas just poured right through the rusted tank onto the pavement and I decided it was time.

This is why we are millionaires. If I was on my third BMW since 1996 and my wife was too that would be the lion's share of my million gone.

Also, one of the greatest predictors of happiness in a person is their certainty that they are financially sound. It brings me much more joy to know I can tell my boss to fuck off any time I want. More than a car or a watch can bring me.

>>661379
18
~$800,000
Studying in Harvard rn.
It's not even that hard to get rich.

>>661398
Generally this...

But it's very hard, if not possible to amass 1M in net worth just making a 100k salary... To be a millionaire by the time you're in your mid 30's, you really need a salary income of around 250k a year. With 100k-199k, taxes will knock it down 30% and housing and living expense will take up another third, leaving you with about 25-50k in pure savings a year... Would take a while to get to a million from that rate.

>tfw wasted my life chasing money
>tfw mid 30s realized its literally pointless

>>658836
29
-$50,000

Shit yeah being a PhD student without paying down my MS debt because I can't find a job in my field without a PhD.

24
NW: around 1K (i know its nothing)
About to be an Industrial Engineer next year, 0 debt tnx God

>>661412
I posted earlier, I owe $600,000 of my net worth to the fact I bought a house in Toronto in 2001. My parents co-signed, I rented out two rooms to college bros. Best decision of my life.

My remaining $400,000 is retirement accounts.

>>661379
either this is a meme i'm not aware of or you're dumber than a nigger with downs.
most of the posts here are plausible.

>>661412
>>661412
I posted earlier, I owe $600,000 of my net worth to the fact I bought a house in Toronto in 2001. My parents co-signed, I rented out two rooms to college bros. Best decision of my life.

My remaining $400,000 is retirement accounts.

>>660175
>bitcoins in 2035.

Nobody listen to this guy

>>661248
fuck

>>661442
Yeah, helps a lot to have supportative parents. pretty much all of the people I know who come from a single parent household are(and will likely stay) poor plebs.

19 and 2700 euros

>younger than you
>more than you

this thread in a nutshell. what's the point of these anyway?

pic related

33, 92k USD
debts are 2 mortgages and student loans

24

-80,000

Just got out of grad school

34
931k
jobless neet

>>660808
So you had 133K saved up when you were 27? And then somehow managed with the down payments on two more apartments within the year?

Also, since the return seems to be 3-4% a year, I'm assuming you're relying on a growth of at least 4% a year on the value of the apartments?

Do you do any maintenance on them yourself, or do you hire people to do it?

Finally, any advice for someone looking to get into real estate investing?

27 years old.
~$23,000 including car after a year of paying debts and saving.
Saving and investing approx 1,500 a fortnight now, plus superannuation.

No debts. Slowly getting there, after travelling around the world for the past 7 years.

Just waiting for the property bubble to burst here in Australia in the next year, so I can collect the tears of my peers and snap up a cheap property for myself.

>>659500
why not just post the jpeg if you're gonna post one at all? faggot.

>>661272
>>661285
Not remotely

>>661289
On impact

- 18
- 14k car
- 30k business assets
- 4.5k personal cash
- 2.5k Company cash

Do I have a decent head start? I have no loans..
- Worked for every cent

>>662068
Yes. Very good head start. You've got an expensive car, for your age. I can't imagine your insurance is cheap. Still, will probably last you a long time.

36
~$150k

Taxes are going to be a pain this year though

>>662087
Make some capital losses?

>>662092
First year of four year vest plus around $70k of forgiven debt means I have to declare like $440k income this year

>>661406
You're the only person in this thread that's beaten me (19, roughly 400K)

How did you make 800K if you're in college?

>>662095
>I have to declare like $440k income this year
top kek

banks might forgive debt, but the government doesn't.

19

5k in stocks
1k in cash

Expected student loans 25-40k.
My goal is to have a net worth equal to my debt at the end of my degree.

>>662110
Good luck with that. Try to have fun at college.

>21
>$24,400

$450,000
24

I own my home and my car outright and am about to spend a stupid amount of money on a diamond because I'm an idiot.

>>662150
If you're getting married: meh, there are worse things, regardless what you hear on NEETchan

If you're just buying a diamond: worst investment ever

>>662152

Marriage. No kids for years though. Fuck those things

>>662153
My experience is that guys never want the kids.

Well, I know one guy who did, but I think it was so his wife would never ever leave

>>662155
It changes when your finishing your 20's up . I mean honestly i can see meeting eye to eye with a chick who also doesnt want kids and just having extravagant hobbies but by your late 20's it goes from "oh fuck is she on the pill? Etc etc" like you panic about it to like "oh youre pregnant? Cool , lets do that then"

>>662155

I decided years ago that if my wife wanted, I'd be on board, if not, whatever.

>>660867
>being 35
>still 'kek'ing

>>661726
I had somewhere around there, I forgot how much exactly, since I was getting income from multiple sources at the time, and I also put away some money to go on a 3 week vacation to America in the summer of 2014.

I used to work for a smallish ISP before, and we took ownership of a large network that had D-Link equipment installed.
We decided to replace all that equipment with Huawei GPON technology instead, so we were going to scrap everything out there. This was in 2011/2012, and we finished the work around Oct/November 2013.

I managed to snag this up from work, which in total was 50-60 DGS-3324SR switches, 40-50 DXS-3326GSR switches, 25-30 DGS-3627G switches and 300-350 DES-3010G switches, 20ish rack cabinets (a lot of the doors were broken though, so had to scrap quite a few).

The entire worth of this used was estimated at about 90-130k USD based on used prices in Norway at that time.
25% of this value goes back to my company though, based on our deal.

I have however not been able to get rid of it all yet, and I don't have the numbers for how many I have sold or have left here, as that is on my other laptop (I am currently on my primary job work-laptop).

And yeah, I am relying on a growth of 3.5-4% primarily, and the third apartment wasn't really something I had planned to purchase yet, it's just that an opportunity showed itself. The good thing about this one is that I have the possibility to rent it out two 2 people, as it has 2 bedrooms/2 terraces etc. But the person who wants to live there prefers living alone, so she wanted to pay extra for that.
Financially not the best choice for me, but it is someone who is close to me, so I agreed to do it for the first 3 year contract at least.

I do most of the maintenance myself, it depends on what it is, as I am not the most handy person ever. The family living in apartment 1 has done some work theirselves, as they have family who is educated electrician etc.

>>661726
About advice, I would recommend just waiting for the right opportunity, and checking how the market is in the area thoroughly before you decide to purchase.

Purchasing this third apartment is a slightly risky move for me, as it leaves me pretty dried out in terms of my assets, so if f.ex the market was to crash in Norway, I would potentially lose a lot of money.

However, I have a very secure job, and I also work part-time now and then at another place where I make a decent amount of money for IT consulting, so I am not too bleak about the future yet.

The company I have 25% ownership is doing pretty well, and has about 2 million NOK at the moment that we could withdraw, but we are letting it stay there to invest in other things, as if we do take any out, you have to pay 27% tax of it, but it means I do have saved up capital here too, for a rainy day.

Another thing to consider is, if possible, get an apartment with two bedrooms etc, so you can have two tenants instead of one. The price difference on your loan shouldn't be too much, but the income can potentially double.

And as with anything, once it starts making you money, it becomes easier to make more money. I did not expect to go from 1 apartment last year to 3 this year, but I had a few lucky strikes along the road which made this possible.

And make sure you always have enough money saved up to cover the monthly costs of the apartments, if they were to stay empty or you get a tenant who refuses to pay suddenly.

In Norway we do have a service that you can use, which takes a monthly cut, or a one-time fee for 3 years of "insurance", as in that they pay you the monthly rent, and then they get the money from the tenant. This is a much safer option, but it will remove some of your profit of course. I don't know if this exists in other countries, but I would guess so.

I have not used a service like that as of yet though, as the people living in the 3 apartments I am pretty safe about.

>>662153
>>662155
>>662159

Yeah, just wait until you're approaching your 30s. Your friends are settling down, a few of them have kids, it becomes increasingly normal to you. The reason you don't want kids in your 20s is because it's an alien concept, and you think it'll be too much work. A little while down the line you'll be feeling left out, and a bit envious of other people having children.

22
3000€
no debt, at least...

>>660842

thats pretty shit

25
£4,000 in cash, expecting this to rise to £8,000 in the next three months.
£8,000 in pension pot.
£0 in shares or bonds right now.
No liabilities.

>>662554
Not at all. He has an asset that someone else is paying for, and getting a [mild] passive income in the meantime.

20
about $4,000
in assets like +1000 more (if I sold everything I own)

25.
$20

>my age is higher than my net worth :(

23
$5000 in savings
$60/70k in assets (fully stocked shop, 1 pro street car, 2 motorcycles, a truck, and my daily driver)
No Debt

Guess I can't argue with that considering I'm going to school full time paying tuition in cash. I would like to buy the house I'm at now (Mom owns the house, I built the shop with my own cash) once I get my engineering degree but in the short term I'm looking to buy myself a nice car hauler trailer plus more tools for the shop, specifically a welder/plasma cutter and new paint guns.

>>662243
Wait until you are 40 and all the people with kids are jealous of you for having so much free time

29
30k €uro in cash (mostly bank accounts)
70k €uro appartement
- 50k € debt for appartement

= 50k
+ big fat government retirement fund, no idea whats that worth. lots of things can happen until i can benefit from that.

Cant complain. Startet working real jobs at about 25, so thats not so bad.

>>660842
you've been very open with your figures. Thanks man and good luck with your future ventures.

>>661379
>90% of people on this thread are saying they owe more than 200k, if that's the case why am I only seeing shitass 1.5k cars on car threads ? Why am I only looking at shitwatches on watches threads?

There's a reason they all have so much money bro. It's like you haven't even read the millionaire next door

24
10,000

>>662748
>70k euro apartment
Hello, Poland.

34
33k cash
74k vanguard

Fuck me. Saving grace is the defined benefit pension.

>>662554
>>662681

The increase in value of the apartments over the years is also nice, and the tax deductions and lower tax value versus tax value of other investments also makes rental property a very good investment in Norway :)

The worst that can happen is the market crashing, which might happen at any time of course, but I'm generally not too worried about it.

>>662759

No problem, and thank you :)

>>659164
nice ha.

>>658836
24.5
$15,000 cash
~2,000 assets
BMW Z4