/biz/ - Business & Finance

Am I doing OK? How should I adjust?

>>697790
All in itself, preety good.
Considering you're 8 years ahead of me, maybe a bit less good. But still, good job mang.
What's the business?

>>697799

I manufacture and sell animal by-products

>>697810
soap from liposuction fat?

>>697814

blood, bones, feathers, etc.

>>697780
0 in my savings account

$1.61 CAD in my checking account

Broke atm with like £300. Embarassing.

>>697780
$3000, and I just turned 18 in December

>>697831
You don't always have to respond to every thread.

I wish I had zero, fucking minus

>>697780
>$5k

Would never want more in my savings

>>697840
Why would you not want more???

I have a high powered successful entrepreneurial high level investment portfolio. I also drive a porche

Not

>>697780
$59

>>697841
Would rather invest the money than having then sitting in a savings account

11k depending on stock movements.

>>697849
Are you investing in hand picked stocks or mutual funds?

>>697851
Index funds
Idk enough about stocks to handpick and i dont have time to actively manage my money

>>697853
Seems legit.

>>697854
:^)

>>697849
>I'd rather risk it all than having the interest compound
I shiggy diggy

>>697850
>Stocks
>Savings
Ok buddy

Have $1200 in savings, $1200 in checking and $5k in my business accounts. Few assets and a little debt. Things are starting to turn around for me now at 29.

>>697780
$0.53

>>697880
My real estate is my checking account. My index funds are my savings.

My loans are my income.
My expenses are my expenses.

Only ~10k$
Student, 20, Germany

>>697810
>>697818

>Manufacture...organic material
You mean harvest? :>

>>697878
Mix of real estate and index funds are not really risking it all

>I'd rather risk it all than having the interest compound

Yeah amazing 1% noninel interest rate thank you obama

>>697917
>1%
Try 18%

>>697949

>savings account
>18%

no

>>697949
I would try if it wasnt some russie or Argentina bank

>>697780
3~5k i guess
how much am i supposed to have

I have 3.5k in my savings, Its dropping fast however.
Should probably go back to work.

>>697780
Around negative $55,000 USD.

I don't think I've had a savings account for 10 years. If I need to park cash somewhere, I usually use $FLOT

>>697780


Biz Savings
>300

Personal
>100

>>697878
You actually are losing money if it's in a savings account. I'm not going to explain more. You'll have to study to figure out why

>>697831

I just turned 18 in February and my savings are ~32,000
Work harder nigga

around $500 :(

Only R50 000 at 22 so about $4200 aint too bad in South Africa tho..

>>698373
R A R E F L A G
A
R
E
F
L
A
G

>>697780
10k
21

0

I have 5k in checkings and 2k in another account for options/stock trading. 4k in roth

>>697780
$17k

But that's strictly my personal savings account. Not my 401(k) or any other accounts

$4500 dollar doos. Drinking wet and sinking fast

>savings

>>697790
67k

not bad, actually pretty good considering that low level of income

>how to adjust

buy yourself a better car and live it up a little...

also.. all that savings.. no brokerage account or stocks... you need to get your money working for you.
Mine:

bank1 savings 38k
bank2 savings 22k
bank3 brokerage 253k

Another 400k in illiquid 401k, house, cars, paintings.. but op asked about (liquid) savings

4.5k I need to use this to make residual income but I dont know shit about stocks or anything. What should I do to make this money work for me? Desperate here please.

$634
That will septuple in a year given I don't mess up.

>>697780
about 410k, 29.

>>698407

I always buy the cheapest reliable car that I can find. Never would want to own a nice car as they depreciate pretty quickly and I just need something that gets me from A to B.

401k and IRA ~$26k
Liquid savings ~$25k
Investment accts ~$100k

Checking... Idk usually only keep a couple hundred to cover expenses in a given period between cash in flows.

Age 25

>>698407

Don't listen to this idiot. You are on the cusp of being able to accumulate some serious wealth. Buying a nice car would be the dumbest thing and would set you back tremendously. I'm 25 and my wife and I have a net worth near $3.5mm and wouldn't dream of spending money on a luxury money pit. That shit is for slapdicks who care too much what others think while impoverishing themselves.

Stick to no load funds and ETFs. Try betterment or wealthfront if you really don't trust yourself. Invest in yourself and keep an eye open for business opportunities within your network. Money seeks out other money.

>>698472

Yeah, I know. See:>>698453

Buying an expensive car is dumb as fuck, which is why I own an $8k car. It gets me around, is reliable, and has decent gas mileage. That is all I need.

> 18
> $4326
How am I doing /biz/?

>>697780
>Savings: 1k
>401K: 2k
>Stocks: 4k
>Age: 25

Just paid off student loans, won't have a damn thing in savings until 2018 when I'm recovering from the condo purchase. It should be easy since I'll be single for refusing to get married by then.

15k cash right on my lap :'(

~50k savings + checking
Considering opening a (taxable) brokerage account since I maxed out retirement, but those taxes tho

$5821.08

Not bad. Not great but not bad.

>24
>70k in savings
>Not even an interest drawing account. Just sitting there

130K at 2.8% pa
$75K share portfolio, half in cash

>>697780
Just started my job. Don't have spreadsheet available, but here's my monthly allocation to savings.

550 to Roth IRA
500 general savings

I'm not yet eligible for my company's 401k, so at next year I'm planning on getting the full match benefit. Right now, I'm building my emergency savings as well as saving the max for my Roth IRA for the next 10 months.

Any suggestions on a young 22 year old on what he should do with his 42k salary?

>>697780
five dollara

Nothing. I'm in debt and about to declare bankruptcy. Paying child support. Do not get married if you want to be rich.

>>698643
>implying your shitty ex wife wasnt your own fault

$800 give or take a few

15 bitcoins

all-in

>>698648

>you are responsible if other people are shitty
>if you're a guy

Adults are responsible for themselves. Be angry, though.

>>698656
>former wife and mother to his Child
>other people

Hmmm

>>698660
>former
>now she's other people

That's how divorce works, kid.

18
£5k in savings.
not bad faggots...

>>698375

>/pol/

>>698682
just for shits and gigs, to all the amerifags out there, that'd be $7455 rn

$78 AU
student life

Scotland, UK Checking in..

(All values have been converted from GBP to USD for yer convenience, ken?)


Age: 22

Savings - $4500 (5% compound interest p.a.)
Current/Checking - $1500 (money to live on/play with)
Secondary Checking - $1500 (money to pay off stoozing debts should they accumulate)
Low-interest accessible debt courtesy of the Scottish Government - $3500

Illiquid assets

Property - $134000 (no mortgage)

Wat to invest money on? Index stocks and most bonds either take too long or return too little..

>>698614

That's dumb. You could be make $7400 annually if you invested.

>>698070
How?
>>698690
thats loser life get a job.

>>698654
sell now

Why is everyone on /biz/ rich

>>698754
Unspoken rule: we all pretend

>>697780
>35k€ savings
>be 27
>work as a Network admin/IT team leader
>earning 21000€ net per year
>minus 1500€ taxes per year

How much am I fucked? I'm thinking about working 5 years more in IT and then move on to trading (if I'm able to learn everything by myself during this time).
I'm a gymrat and have a lot of friends so I'm far from being a social outcast, but my low way of living and earning money make me want to kill myself sometimes

>>698754

Not everyone is rich. Some have circa 10k USD in bank, some have little more.

Most lie, or openly ask how to get rich quick because they're deluded.

Being rich to me means steady income of >2000 GBP a month with little to no work involved, just a beast of a portfolio.

>>698764
2 grand a month? Come on you can do better than that.

I've got a personal target of £8000 a month. Currently on £3000

>>698754
oldfags

>>697780
13k CAD turning 21 in June programming on the side while working and studying full time. Still feels like I'm not doing enough.

>>698767

Is your capital tied up in bonds and other time based investments like P2PL?

How diverse is your portfolio?
I'm almost willing to guarantee it contains some real estate.

Also, do you Index? Forex? Or bespoke stocks? What about hedge funds? Anything in that department?

>inb4 all of the above

All of the above?

Roughly around $1000

I used to have quite a bit of money (was on around 100k a year), but then I lost my job (yay liquidation due to shitty Government policy, seriously, fuck the Liberal National Party for fucking strangling to death the fastest growing industry in the country) then just had literally financial disaster one after the other befall me, one week here 5k, another week here, 10k, another week here 8k etc. etc. etc. (several deaths in the family, huge issues with car, having to move, me and my friends small business out of fucking nowhere taking a dive in profitability that we are still recovering from)

These just tore though my savings like crazy and it doesn't help that there are literally no fucking jobs here so I literally haven't been able to get work, even small shit like checkout crap for almost 2 years here since I'm in the worst economically preforming area of the country.

>>698811
>Liberal National Party
I'm assuming you're from Australia, am I wrong? What was your sector before the Libs fucked it up?

>>697831
I turned 18 in decmber and I got $4500 nigga, nothing to brag about

>>698510
Damn we're at like the same level nigga not bad seeing how broke all the other kids in my grade are.

>>697780
$1800

I'm 25. Shit's embarrassing

>>698761
>I'll be a rogue trader at 55, just let me save muh 1k/year

gtfo

Age 18
Savings 30k
Checkings 5k
Business 4~500k

Between 1 savings, 2 checking, and my credit line at $1000, about 7k.

I'm 20. It's all money I've earned myself working since 14. I started with about 14k at the beginning of college, and have paid $1,333 for tuition every quarter, in addition to taking 2 extended international (albeit academic in nature) trips.

>>697831
I am 18 and i got 100k work in texas is hard but pays good

>>698407
>Suggest not just living for tomorrow
>suggest investing money better

>>698453
>>698472

Completely ignore part about investing better, focus on living like a poorfag.


Here is the thing, if you make the right choice on car, you can actually find nice cars that don't depreciate very much.

Even if you leased a brand new honda at 400 a month, for 3 years and put 5k down. You'd only be out 19 grand.

While your 60k has been in savings accounts for the last 3 years - you missed out on making 40 grand.


I own a g8 GXP that I bought used for 30k in 2011. I bet it has depreciated less than your car... and I don't look like a fucking idiot doing it.

When I was your age I owned a yellow convertible s2000. It depreciated 4k in the 5 years I owned it but was worth an average of 20k during that time period.

You don't have to look like a fucking retard driving a piece of shit to get rich.
Furthermore, I know of at least 2 individuals that never made it to their 30th birthday. They would have been crazy rich if they had lived a longer life - but they didn't.

You aren't promised tomorrow.

If you live only for tomorrow, but don't actually get to live tomorrow - you lose.

TREAT YO SELF.

Don't go wild, and don't be stupid. But if you drive an 8k car and are worth 300k - you are being stupid in the opposite direction.

>>698823
Renewable Energy. Solar engineer.
I would bail overseas like the rest of the industry, but I have no cash to even do that.

>>698761
>minus 1500€ taxes per year

kek no. that's impossible

maybe $5000

>>698699
>Implying I know how to invest.

I am not a smart man, anon.

>>698558
if those are all 100s thats more than 15k do u even know what 15k looks like you dumb fucking NEET

>>697780
I keep enough to cover 6 months of minimum comfortable expenses in strictly liquid savings so I won't have to do something stupid like use credit cards, take out loans, or liquidate retirement savings if I lose my job for an extended period. This is just under $30k for me.

>>697849
this is just kind of dumb because part of the risk you take on is the possibility that you will need to liquidate stock because you need the money rather than "it's the right time to sell the stock".

You simply must keep some liquid savings so you're never in the kind of bind that would cause you to make a bad investment decision. You really can't plan on needing or touching the money for 7 or more years or you are only relying on luck to be successful.

>>699899
it takes 30k for you to live comfortably? where do you live?

>>699904
oh, I could live on less if I really had to and probably would be more stingy if I lost my job but I actually do keep a pretty accurate accounting of my monthly spending and saved my 6 months based on that. I would probably cut back if there were a financial emergency but I'd rather have the option not to.

45k cad

none
I work for Foxconn

1400. If I can get a summer job I'm going to start my first portfolio with 1000.

>>697780

$40,000 in my ohshit account
$10,000 in my investment account I need to transfer split between my Roth IRA and regular investment account.

16-
1400$
Plus 98 integra I bought myself
When summer hits I'll open a prtfolio

>>698345
>I'm not going to explain more
Because you're a dumb aspie fuck.

>>699488

Yeah, but cars aren't really my thing. The things that I enjoy most (spending time with friends, hiking, reading, etc) don't cost anything. I don't enjoy anything really fancy or costly any more than the cheap stuff.

8320.79

25

Plan on putting 5k into some sort of investment when i reach 10k. Should be soon. Any recommendations?

I make 13k europoor a year, how do I savings ?_?

>>699903
LOL dingus. I receive 1k a month for studying and that i can just about live on.

Why would i ever need to liquidate Stock for cash ? But Thank you for the advice :^)

Around $6000

20 year old european student

>>700188
That's pretty good for a 20 year old in europe!

>>700241
5k @18

140k in stocks

>>698696
>Wat to invest money on? Index stocks and most bonds either take too long or return too little..

Stay poor friend

>>697949
>18% interest
>savings account

>>700660
>thanks dad

>>698472
>betterment or wealthfront
How do these compare to Vanguard?

I am looking for a switch I have my portfolio through my bank and they charge about 1.6%. That is high I know, but in the past year and half, I've seen ~25% return. I'm paying a high management fee but I am seeing good returns...what do?

Is there any benefit to me opening an IRA or 401k (without any employer matching) if I have a stock investment portfolio already?

>>697780
$700/$860

>>701018

Do you know anything about IRA and 401k accounts? The benefits are fairly obvious.

>>700033
>counting your possessions in a self valuation
pls stop

>>701246

Technically, they should be included as assets, but I never count them in order to be conservative.

>>701180
are IRA's and 401k's an exclusively American thing?

>>701787

Yes, though I am sure that other countries likely have some form of tax-deferred retirement plan.

17
~550€
I'd like to have a few thousands within 6month, no qualification (apart from high school & will go to college (free caus' france is awesome)) any idea (i plan on investing my first few thousands)

>>701018
Ask a serious question.

>>701180
And get a retard answer.

Don't let your children browse Investopedia or else they'll think they are little Warren Buffets.

>>701846

It is a fairly simple answer that would take approximately 2 seconds to search. 401K's and IRA's each have certain tax benefits. For example, Roth IRAs allow you to put in post-tax and avoid taxes on gains when withdrawn at retirement.

>>697831
i just turned 18 and i got 20 billion see how my dick swings? the people replying to you are the biggest faggots on earth

>>697917
>US savings account receiving 1%
>receiving 1k/month for studying to live on
>in US
cmon bro, r u even trying

>>701939
But at a max of $5500 a year, wouldn't it be better to just keep dumping that money into my portfolio. I currently have $250k diversified in stocks, I don't plan on touching for at least 20 years, so in the grand scheme of things I will already be paying capital gains on my portfolio....why have a smaller IRA portfolio earning less, just to have taxes reduced or eliminated.

If you are a college student please don't even respond, your simplistic answer leads me to believe you are a sophomore finance major.

>>702061

>put 5500 into IRA
>put max into 401k
>rest goes into portfolio

It really is that easy.

>>697780
>>697780
>>697780
w..would you source pic related

$24k, 19 y/o

22, 2.1million, inherited this year

>>702969
please

>>697780
Implying I'm not balls deep in an overdraft and two student loans :(

20k. age 25 pizza delivery driver. going back to school for computer science next fall and it will cost 28k...

>>697780
$5

$458.65 cents in my main account I use for day to day purchases

$64.48 in a bank account I'm to lazy to mess with.

>>697780
Around 9k. I'm going to get some financial advice re investment and a few other things.

I'm 27, and have been living on my own. I had around $20k in savings, but had to put myself through uni.

I'm looking for long term growth, and want to use the capital gain to buy a house eventually.

>>702969
>>703206
>please

>>697780
948g of physical gold