/biz/ - Business & Finance

>>9086071
A million dollars isn't enough to say you've "made it", but it does mean that the hardest part is over. If you're smart then it'll be very easy from here on out, and your wealth will grow exponentially faster than it did as a poorfag.

You can make it with $100K if you're smart.

>>9086148
How?
You can’t even buy a cuckshed with that in Sydney.

Depends on what you want
For me 1.5 Million is enough to have made it

>>9086135
>>9086071
If you are not a retard, you don't need to work ever again with a standard lifestyle.

>>9086071
Buy long-term bonds. Live on the interest.
Even 2% APY is enough to give you 20k per year, which is easily livable. 30 year bonds yield ~3.1%, or 30k per year.
That's for indefinite survival with no depreciation in value at extremely low risk. If you know you're not going to live forever, or you are willing to go with variance in the short term for long-term gains, stocks yield 8-12% anually, giving you 80k-120k per year. Hold some back for a rainy day (say 10k reserve), and you can balance out the variance while still easily making 75k per year on average.

You waste yourselves attempting to wrestle the stakes from impotent debate.

First thing is finding a sword, without one, run, don’t even consider hiding. Then a journal where frame of the mind, performance, conditions, evaluations, reasons and mission are tracked as honestly as possible. Next is will, discipline, control of stamina and other resources. The rest is not as critical but what’s commonly most focused on. It can come from anywhere but personal records are also essential for study. It’s all useful and unnecessary, it’s born from hard experience and why recordkeeping is so significant. Halts are then scheduled and improvised as a way to reassemble and plan the next movement.

Patience then becomes only a virtue when it moves way past trying to retrieve what was lost on defeat. Glorious victories turned into modest ones are precisely that. Be ready to be hungry for the feasts that are merited only to you and yours and that would be wasted on anyone else. Take from everyone everything that isn’t nailed to the walls as long as it won’t slow you down. Then it will be exposed as tiny. Or you won’t escape them because it’s within their right to own you.

If the interpretation is found narcissistic, uncompassionate or repugnant then we have no further need for each other. We can both decide who is our equal and to who we owe answers and assistance, no matter how wealthy, ill or recommended. We establish then what can be gifted and exchanged and what is too precious. How to reward those who stood by our side when they were better served abandoning us and who have personally proven too many times to have earned our respect. Those who mean the world to us and to who we can’t ever show enough appreciation. Revealing who and what is truly deserving and necessary, then the hindrances. You can accept to look up only to yourself if that’s your desire, nobody is being considered the only one, the answer or unflawed.

$1M here in my shithole will make me and my grandkids fucking god emperors.

>>9086234
>>9086193
i'll loose half of it buying some cuckshed to live in.

>>9086287
Buy a $150k house that's not in the city or suburbs. You'll get a 3-4 bedroom house easily in the countryside. That would leave you ~800k which can net you 64k per year on the stock market, conservatively, with around 40k left over as a buffer.

In what world you live in where $1M isn't enough to make it?

>>9086326
australia.

>>9086316
Well, I can totally understand when one does not want to live in some rural area with only uneducated rednecks around. I like the countryside, but it does not only have advantages. There is a reason why things are cheaper there.

I'd take a loan for some house/flat in the city and pay it off with the dividends over the course of 15 years, so the money is not really lost and the price for the house will most likely increase.

Maybe I'd do it with a second flat and let someone else live in there. With 1m$ buffer you never have the inconvenience of not being able to pay your rates.

>>9086071
1 million would be a dream come true for me. Its over 50% of the life wage in Sweden and im 20 so i would have enough time to make an 10x with that

>>9086338
I'm pretty sure $1m is enough to make it anywhere in the world unless you want private jets and yachts.

>>9086350
Go fuck yourself

>>9086363
Or you'd lose 90% of it because you're too nervous to handle the pressure that comes along with throwing around life time wage money.

>>9086338
Kek Aussie too
These cunts have no idea
My goal is 4 million minimum
Got 200k at this point, hope I get there

>>9086350
>Well, I can totally understand when one does not want to live in some rural area with only uneducated rednecks around. I like the countryside

>reddit spacing

1k here. I only need another 999k to reach that position of yours.

Why would you stop at $1mil? Just keep it in crypto, 2mil is only a 2x away then.

>>9086372
we're gonna have to move to live the dream mate. i dont think theres much future here for me anyway. if you like the bush and shit fair game, but its not for me.

>>9086071
If you make 1 mil just move to SE Asia or EE and live happily ever after, dummie.

>>9086389
:(

>>9086389
Upvoted

>>9086071
eastern europe or SE asia if you're a race traitor who likes nice weather

or be a normie and live conservatively without working

you need 10 million to make it, and 50 million to be rich-rich

>>9086193
If you try to live off of 1 mil, you will only last 25 years. Assuming that you spend the average salary of 40k a year.
If you live off of the interest then you might be better off though, so I guess you have a good point. I would honestly just let it compound and continue a wagekek lifestyle to get really-really rich.

It just depends on what your goals are. Some just want to be NEETs. Some want to be rich. Some don't even know why they've invested so much time in chasing these things.

>>9087371
>Assuming that you spend the average salary of 40k a year
What the hell are you all buying? I live off an average of 15K a year, with steak every week, two holidays a year and own a nice home - in western Europe

>>9086234
lmao.

long term bonds are a terrible, awful, horrible choice of investment. especially 30 years. wow

do some rethinking my man.

$1MM is plenty to quit your shit job and re-invest.

>>9087745
You inherited money or you're LARPing

>>9086071
lol. you noobs need jesus.

>>9086401
what the fuck
we are the fucking dream
>interest free uni loans
>doesnt have to pay it back unless over 40k annual income
>above average labour cost so you can still live well when you fuck up highschool, just be a plumber.
>60k average annual income, assuming you live with parents you can save for downpayment in 1-2 years MAX

sure housing affordability is a pain right now but you have to be delusional if you think things get significantly better elsewhere. People overseas have to pay a fucking million at least to apply for residence. Either that or you have to be exceptionally skilled at something so firms will sponsor you.

>>9086071
>1 million invested
>7% average etf return, compound interest
>4% safe withdrawal rate = 40k a year, 15% tax rate
Now 1 million isn't my make it goal, I'd feel more comfortable with 3, but as long as you don't think "im rich i can buy a mansion and a lambo now" you can have a comfortable work-free life. That's not even talking about being a third world or rural anon where that 40k would go way further.

Furthermore I think Chainlink will be worth very little in the years to come.

>>9086071
a million is just middle class in any developed country

>>9086393
>did this
>lost half my million

>>9086148

This. £150k and I am fucking OUT OF HERE. That's enough to get me 2x my current salary, as passive income, for life. Yes please, I'll take that, you retards.

I don't need a fucking gold-plated yacht and shit. Time is more valuable than anything else, lads.

>>9088379
>People overseas have to pay a fucking million at least to apply for residence. Either that or you have to be exceptionally skilled at something so firms will sponsor you.

what are you talking about? to immigrate here? the thousands of chinks and loo's i see everyday would attest otherwise

>interest free uni loans
for degrees that lead to nowhere in this economy. i know qualified engineers and geologists who are stacking shelves at k mart
>doesnt have to pay it back unless over 40k annual income
again, not a problem when you dont have a job
>above average labour costs, just be a plumber
>just be a plumber
try do an apprenticeship for a few months as someone with a 90+ iq and let me know how you enjoy it

now im not saying things are better elsewhere, everywhere has its problems and its an easy cope and excuse to just say 'australia's fucked'. however i would say your vastly underestimating the state of things here

>we are the fucking dream
cmon anon

https://medium.com/@matt_11659/matt-barrie-australias-economy-is-a-house-of-cards-6877adb3fb2f

>>9088389
Half of that is going towards benefits if you live in the US. Based on the tax rate I'm assuming that's where you are.

>>9088438
>That's enough to get me 2x my current salary, as passive income, for life.

how may i ask?

I had 1 mil at the bubble top but i need atleast 3mil to make it.

>>9088488
>how may i ask?

Four deposits for buy-to-let student houses. I already have two so know how they work. I'd net at least £500pcm from each, or well over £20k per year. After two years, I could buy another one if I wanted.

I already own three houses and live cheaply. Don't need to be rich-rich. I had 175k in jan and didn't cash out and it has killed me. If I don't make it back in crypto I will kms.

Mode salary here is like 16k. Earning 30k is pretty decent for an adult, 50k+ is mostly a meme even though it doesn't sound like a lot.

And I live in an expensive part of England - elsewhere property prices are 40% lower so you'd get more bang for your buck.

>>9088527
good stuff mate. i know several people doing it myself over in the uk, they last told me competition is getting high tho. my friend has 4(?) btl student houses and i think it pays him around 50kgbp a year. maybe thats wrong but sounds right to me

its what i intend on doing too if i ever make it. i honestly believe owning land or housing will strictly be for the upper classes in the future, particularly in the UK. anyone who owns housing will be part of the upper class.

i hope you make it anon. what are you holding?

>>9088488
He's from India

>>9088260
Inherited a house
but that was it.
Really, how does one spend 40K a year?

>>9086160
you can't even buy 10% of a cuckshed with that in sydney

Paying my student loans off would be my "making it"

>>9088770
Most of that, or at least the largest expense for an average person is their monthly rent or mortgage. If you already own a house, that frees up a LOT of that 40k.

>>9086071
Fuck off cuck that's plenty to retire on unless you're the type of retard who insists on living in some super expensive area of some shithole city like NY or London.

>>9088672

Yea prices are pumping hard for good student houses. I can't believe I didn't fucking buy a few more when I had these vast funds in january, feel sick to think of what a waste it was.

I am deep in tron and eos for May, hoping they will see considerable gains before the mainnets. Intended to get 100% in tron at 500 sats but missed the boat, would be 50% up by now, lol.

I am basically relying on 2x sats gains and then 2x bitcoin price. If that happens, I'm out.

>>9088832
lucky me
need to visit grandpas grave more often
and still, assuming rent or mortgage around 600 a month, I still would end up with roughly at most 20K a year.

>>9088832
True but if you really have 1M, and no job why would you live in a high cost of living area.

I live in Central Illinois and my bills (rent included come out to ~$900-1000 a month), I make a 65K salary. I could easily retire on 1M (drawing 2-3% per year, and upgrade my barebones lifestyle).

>>9088473
Like you said nothing is perfect, but aus is very close to as good as it can reasonably get.

In here making it is almost guaranteed as long as you have the drive and dedication. There is very little environmental factors that will limit your potential. No parents? Apply for welfare. No money for uni? HECS. Like you said these perks can be cancerous and make people waste money but the fact that you dont have to be born rich to enjoy world class education in non meme degrees is absolutely beautiful. This is why it makes me so angry when I see students complaining about the HECS repayment threshold being lowered. Fucking cunts need to unironically stop being entitled and see how bad it is outside.

Those chinks migrants and students are absolutely crucial as they are propping up our overinvestment into the short lived mining boom. One single student has to pay over 450k over the course of their studies.

Good article, thanks. However I still think this is one of the best country on the very basis that you dont need to be born rich to have access to quality tertiary education here

Carefully picked real estate can not you about 8% profit a year. Let's make it 10% just to round up.

1m = 100k a year in income from rent

10% to property manager so 90k then some retarded taxes, let's say 70k per year in profit.

Means you can get in pure profit around 6k per month. All taxed and done

That's pretty livable. Decent apartment for 2k a month. Then 4k to do whatever you like.

Nothing out of this world but comfy lifestyle

>>9088527
> buy-to-let student houses
the fuck is that?

>>9086350
Country fag here, the only downside is isolation. Internet is slow, no qt3.14s, no block parties. But I can smoke weed in my front yard, decide to camp and go into the forest in my back yard. I can shoot guns off of my back porch, and can experience a peace and quiet most can't. Country living is good if you're ready to settle down and die, but it sucks when you're in you 20s. At least there's 0 crime I guess.

>>9088396
Actually 1 million is fairly wealthy in every country. In the USA, the wealthiest country in the world and country with the most millionaires only 9% of households have a net worth of 1 million+ so by definition it's not middle class. Middle class would be a 50th percentile networth which is around 150k-200K in the USA.

>>9089048
This isn't how you should do it. You should buy multiple properties on loans and use the 1 mil for down payments/collateral. Your equity will increase super fast doing that, and the rent will cover all the bills. It grows exponentially too, so the more you have the more you can get. I don't know why everyone on /biz/ wants to work for the minimum amount needed to not have to work again, rather than trying to make lots of money. There's so little ambition here other than being a glorified NEET.

>>9088770
People tend to spend a lot on rent/mortgage. You're definitely very lucky to inherit a house, but surely you must have other frugal habbits.

>>9086071
>molymeme unironically has 1MM in btc

>>9089048
>Carefully picked real estate can not you about 8% profit a year. Let's make it 10% just to round up.
What are you talking about? There are almost no places in the west where you get 10% rental yields...

>>9086160
Then don't live in Sydney.

Note the "if you're smart" qualifier in his post.

>>9088527
Nice larp faggot.

First you say you've got 2 houses then it's 3.

You live where?

I've run the numbers, I earn a decent amount and am a home owner myself.

You can't earn anything like what you're larping about with 150 grand, nowhere near it.

>>9086071
Depends what you mean by "make it".

$1m is more than enough if you're smart about it and invest that $1m into assets that will give you returns.

Obviously you can't just live off $1m in a savings account. You gotta be smarter than that these days.

>>9088417

Same

Feels batman

>>9087371
>I would honestly just let it compound and continue a wagekek lifestyle to get really-really rich.
this is de wae

>>9089086
>In the USA, the wealthiest country in the world

Yes highest 0.1% is wealthy in usa. On median level muricans are below portugal and greece in net wealth

>>9086287
why do you need a cuckshed? Just rent fuck knows where in a state with no income tax. Get a license and register to vote.

You don't really need to work, just travel the world while investing your shit in a smart way.

You're an absolute retard if you wan't make it off of one mil. Pathetic.

>>9086234
>Buy 30 year bonds
>yields going up, literally a year later you could be getting 4%

kys my man

>That's for indefinite survival with no depreciation in value at extremely low risk.

Yes, that's assuming you are willing to live THE SAME LIFESTYLE for the rest of your days

that's like retiring in 1930 and never buying a TV 30 years later

or retiring in 1980 and never purchasing a computer or a cell phone in 2010

living becomes more expensive as time goes on, this is a good thing

you're also ignoring inflation (unless you're buying TIPs)

the best thing to do when you retire is to start selling your bonds and rebalance to mostly stocks as you get closer to dying - this is empirically backtested over every period since 1880

>mfw boundless ambition and only a small empire with yachts, jets and a private army are enough to consider i made it

Comfortably, I would need $100k net returns on any investment a year, after taxes and necessities ofcourse. That would require capital of roughly 10mm as I am risk averse.

>>9089086
Exactly, and additionally, remember that for the vast majority of those "millionaires"-and-below net worth, their illiquid, non investable home accounts for most, if not all of that paper value.

>>9086071
https://www.youtube.com/watch?v=9rUWEGSEWbw

>>9088438
Nigga Iv got £200k right now and am just hoping to get near my ATH if £750k. I think the problem is I’m scared to quit considering the potential of crypto and also of how uncertain my future would be without a job. Aka I’m a cuck

>>9091449
> I think the problem is I’m scared to quit considering the potential of crypto

why would you quit 100% on your position, just leave 25% there and put more as youre able in the future.

>>9086234

2-3% a year is basically inflation so no not indefinite. In 30 years you’ll need 100k to live the same lifestyle for a year as 30k gives you now

>>9086393

Losing half a mil is only a small “dip” away

>>9088417
>>9090727
>Going all-in with whole mil
Retards.

>>9091381
Buy high quality bonds (safest corporates, high quality government bonds) and stocks

80% bonds and 20% stocks has a VERY low variance year-to-year. Even in 2008 you would have made money with that allocation because of QE/lower interest rates.

You'd only be getting cucked literally right now (higher interest rates and struggling stocks) - most other times those two assets are negatively correlated.

>>9091936
I literally couldn't cash out fast enough without paying out of my ass in taxes, I cashed out only $400,000 and still had to pay AMT, lost personal deduction, had to pay out of my ass in state taxes

I would have paid even more if I cashed out more, but I still have a million left in crypto

>>9086071
If you spend money like a nigger it's not enough

>>9092584
No amount of money is enough if you spend your money like a nigger

It's like how when you see people win 100mm via the lottery and are broke in less then two years.