/biz/ - Business & Finance

[Anonymous No.12572591]

>boomer parents sold the family home for $800k and dipped into their savings to buy a $1.2 million house back in 2017
>told them they were making a BIG mistake they're buying at the top, but they were like "stop being so negative anon, the market is booming and everyone's sizing up!" :^)
>tfw find out now both my boomer dad and mom lost their $150k+ jobs due to restructuring a couple of months ago
>they can't get a job due to age discrimination and being overqualified
>hear them fighting and shouting at each other everyday about how they can't meet the mortgage payments from March this year
>tfw literally going to be homeless in a month's time because boomer parents thought they knew better than an unemployed NEET who reads books on economics, finance, trading, and banking during his free time

I tried bros. I tried...

[Anonymous No.12572647]

Houses around me went up in value since 2017
Well 150k to 300k houses idk about 1m+

[Anonymous No.12572660]

>>12572591
But technically they weren't wrong in their decision; you didn't predict them losing their jobs and being unable to find new ones.

[Anonymous No.12572665]

>>12572591
atodaso

[Anonymous No.12572670]

I live where everyone is fracking shale oil or whatever and there are tons for middle paying jobs and real estate investing is popular

[Anonymous No.12572787]

At least they have the balls to execute. You just leech off them. Either way you are 100% dependent on them.

[Anonymous No.12572822]

>>12572591
Will pray for you anon

[Anonymous No.12573027]

>>12572591
Boomers are historically the worst generation to ever walk this earth. They grew up in the post WW2 era where people were swimming in money because the economy was unparalleled in success. They have no idea how to manage life if its not on easy mode

[Anonymous No.12573036]

>>12572591
any books in particular you found worthwhile?

[Anonymous No.12573038]

>>12572591
So they sold their house for 800k to buy one for 1.2mil? If they only financed 400k cant be too bad...

[Anonymous No.12573131]

>>12572591
Easy solution for your parents - downsize to a 350k two bedroom condo and retire coasting on 450k till they get social security. Of course this might require their NEET son to finally move out :)

[Anonymous No.12573170]

>>12572591

that's what they get for trying to keep up with the Joneses

[Anonymous No.12573184]

>>12573131
op did not mention that 800k was net equity

[Anonymous No.12573230]

>>12573184
True but people with heavy mortgage bags usually got no savings to dip into to buy 400k more of house

[Anonymous No.12573251]

>>12572591
They can always learn to code

[Anonymous No.12573254]

>>12573230
the point was that op did not mention 800k was paid off

[Anonymous No.12573301]

>>12572660
wtf lol. you realize part of the economy coming down is people losing their jobs right?

[Anonymous No.12573331]

>>12572591

[Anonymous No.12573350]

>>12572647
Yeah, bitcoin also went up in value before it crashed.

[Anonymous No.12573442]

>>12573350
What would cause a house crash
Stocks plummeting causing people to default creating a chain reaction?
It's not like you can lie and get a bunch of loans anymore
Also the us gov will just inflate the currency like always making it easier to pay back

If I was in debt on a house being in a fixed long term mortgage in us dollars would be a good position

[Anonymous No.12573451]

>>12573442
good luck paying that debt off when you lose your job.

[Anonymous No.12573503]

>>12573451
I guess if youre a paycheck to paycheck wagie things are different
Also I might be completely wrong lol there are a ton of variables

[Anonymous No.12573513]

Considering the jews never lose theyll probably seize the house in a currency crisis
Banks own the goverment

[Anonymous No.12573569]

>>12572591
My parents same. In early 2000's they sold comfy house for a big fucker house even though all kids grown up and left , I said bad idea..didnt listen, also we had family business we all worked in doing comfy at same time got offer of 3million for it...i said take it..they didn't listen. They bought big cars, race horses, exotic holidays. Long story short, economy crashed, they tried keep ailing business going by selling house on cheap ...didnt work banks took business...both parents died over next couple years and left me with nothing after working with them for 20 years. Bravo boomer parents bravo

[Anonymous No.12573584]

>>12572591
>>boomer parents thought they knew better than an unemployed NEET who reads books on economics, finance, trading, and banking during his free time
Literally the story of my miserable time spent with my parents in my late teen years

[Anonymous No.12573613]

>>12572591
Why don't you get a job then you lazy shit

[Anonymous No.12573628]

>>12573569
Damn that hurt to read. Fuck...

[Anonymous No.12573634]

>>12573027
>They have no idea how to manage life if its not on easy mode
What’s funny is they say that about us. They didn’t have to cope with the fact our future seems hopeless, and their future when they were our age seemed entirely bright.
We lost a lot of wisdom in WW2 man, those men grew up in the depression.

[Anonymous No.12573656]

>>12572591
cringe loser

[Anonymous No.12573683]

>>12573569
>>12572591
why are people so retarded that they don't take into account accidents, economic depressions, or emergencies?
>>12572591
It's over. You need to work, being a NEET is the past now. Become a man, I know you can make it. oh and

fuck jannies

[Anonymous No.12573710]

>>12573683
>why are people so retarded that they don't take into account accidents, economic depressions, or emergencies?

Thinking ahead is bad for business
Remember anon, being spontaneous, ghetto rich, and being a debt slave is good and what rich people/people who want to live rich should do.

[Anonymous No.12573734]

>>12572591
how can someone not be happy in a 800k house

[Anonymous No.12573782]

>>12573734
>how can someone not be happy in a 800k house
Because it's not enough, it's never enough.
Boomer don't understand what's wrong with that thinking, they truly believe everything is fine and will continue as it always has for them.

[Anonymous No.12573870]

>>12573734
This. You got a roof over your head in a safe neighborhood. Why the heck do you want to sell your house for a more expensive one?

[Anonymous No.12573878]

>>12573782
>>12573870
what is greed?

[Anonymous No.12573931]

>>12573569
boomers need to be unironically executed for being such perfect kikes' NPC goylems. They handed (((them))) the world while dooming their own heirs to become slaves to the jews for eternity.
Kikes couldn't dream of better bluepilled normies to further their agenda. I'm trying to redpill my boomer parents for 12 years about the jews. I succeded with my brothers, myfriends, my colleagues... but man the boomers are REDPILLPROOF. My parents too fell for the "be yourself normie, profit from life goyim, travel the world to discover your inner self". Destroying generations of wealth for stupid cocktails they snapchat in a random acapulco 5 stars palace to impress the few friends who didn't died from cancer they have left, not knowing they don't give a single fuck.

REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

[Anonymous No.12574021]

My parents are incompetent as shit too, OP. My dad used to make 120k as an engineer for at least a decade while I was growing up and has taken several paycuts since then. Now he only makes 65k because he has no idea how to ask for better wages, he's a complete fucking pushover who gets bullied by my mom. My mom works 3 jobs because of all the pay cuts just so they can keep paying on the house. Oh and guess what, my parents also lost over 300k in retirement from listening to bad investment advice, and now their COMBINED retirement is 100k. YES 100K.
BOOMERS ARE FUCKING RETARDED.
I'm glad I moved out, because I can't imagine living with them arguing about money constantly, that's literally all they do now.

[Anonymous No.12574140]

>>12574021
How did they lose 3/4 of their retirement?

[Anonymous No.12574192]

>>12572591
What was the family home like? 800k must have already been an awesome house.

[Anonymous No.12574218]

>>12574140
Probably listened to biz

[Anonymous No.12574223]

>>12574218
But high, sell low. It always works.

[Anonymous No.12574359]

>>12573569
I hope you make it brah

[Anonymous No.12574361]

>>12574021
As a man working a skilled trade and only making 40k a year, I can't possibly fathom arguing about a 65k salary. What the fuck is in these peoples' heads?

[Anonymous No.12574406]

>>12574021
Damn, did you try to help or warn them that the advice they were receiving were garbage? How the hell did they lose 300k in retirement?

[Anonymous No.12574754]

they are going to be making max $40k a year at their next job. once you're out your out.

[Anonymous No.12574790]

>>12574140

Let some stupid jew "invest" for them, into extremely volatile but "high earning" stocks during a bubble in the 90's. I want to wring my dad's neck for fucking up not only his family's future but also forcing my mom to stress herself to death working 3 jobs because of his incompetence.

[Anonymous No.12574810]

>>12572591
My dad lost his job a couple of years ago, despite being loyal to the same company for 30 years. He's was the most loyal person to a corporation I have ever met. Luckily they sold their house in time, but I totally understand what you are going through.

[Anonymous No.12574835]

>>12574790
Just think, if your dad wasnt a retard and put the money in some basic s&p fund you wouldve had almost $2 million by now

[Anonymous No.12575152]

>>12574810
>despite being loyal to the same company for 30 years. He's was the most loyal person to a corporation I have ever met.
Loyal by choice, or loyal by necessity?
Your father is probably one of the last Corporate Loyalists out there.

[Anonymous No.12575256]

>>12573569
This is so fucking true. My boomer parents lived in an older house in a nice White neighborhood, and bought a new McMansion in an up and coming neighborhood as a 2nd house for 400K. They rented out the house they were previously in and in 2008-2010, they were burning cash so they had to do a short sale and basically give their old house away for 200K in 2011.

Now the up and coming area got flooded with minorities after a few Section 8 units and people leaving the state. Property prices haven't even risen above their 2005 purchase price in nominal terms. Their old White neighborhood is now 2x as expensive as 2005, and the guy they sold it to flipped it in 2018 for 3X the short sale price (600K) by doing nothing but repainting it and replacing the flooring to make the inside look more modern.

[Anonymous No.12575331]

>>12572591
>age discrimination
All they had to do was give him the manager a firm handshake. Boomers are worthless.

[Anonymous No.12575879]

>>12572665
A fucking atodaso

[Anonymous No.12575948]

>>12572591

>TFW in a similar situation

The only difference is that I'm working and contribute to the mortgage. If push comes to shove, I'll move out and let them lie in the bed they made.

[Anonymous No.12576505]

>>12575948
Opportunistic little vulture.

[Anonymous No.12576514]

>>12572591
Boomers.
Fucking idiots

[Anonymous No.12576532]

>>12572591
bl bl mate

[Anonymous No.12576540]

>>12573569
>They bought big cars, race horses, exotic holidays.
I fucking swear boomers say the most retarded shit to millenials and yet they did things many times worse. They are brainlets and hypocrites. They don't live in reality. They had everything handed out to them so they don't know what real struggle is. Literally the most bratty and degenerative generation of all time.

[Anonymous No.12576567]

>>12573301
do you realize you don't know if you're going to be the one to lose your job until it happens to you?

[Anonymous No.12576599]

>>12574361
That's really shit pay... in this union I'm near with, it starts at about 45k 1st year with no experience. STARTS there and caps at 92k. That's without overtime. What state do you live in?

[Anonymous No.12576603]

Yeah, boomers are quite the NPC sheep. They eat up everything advertising folks and authorities tell them without question. Now you got rekt environments and obesity crisis. They seriously have no critical thinking skills.

[Anonymous No.12576652]

>>12572591
This doesn’t add up.

What type of 150k jobs?
How old are they?
How much is mortgage?

I find it hard to believe that someone making 150k couldn’t find another job making at least 50k. And if age is a factor from this, then they’d have to at least be 60, meaning they should have big fat IRAs.

[Anonymous No.12576795]

lol
Boomers should be heaped in a pile and left to rot
fuck it, we're young, we'll start over.

[Anonymous No.12577267]

>>12576567

>It's ok bro, it's uncertain, therefore it won't happen to you :^)

This is how retarded you sound

[Anonymous No.12577295]

>>12572591
can they still sell their 1.2 million dollar house?
Or can you not do that before mortgage is paid off?

[Anonymous No.12577694]

Luckily my boomer grandparents never fell for the jewish schemes and never nigged out with the money

[Anonymous No.12577707]

>>12572591

If you’re so smart why aren’t you rich?

[Anonymous No.12577745]

>>12572591
>no savings
>No plan b
>no negotiating with the bank to see what they can arrange
>not dipping into retirement savings early and downsizing to the original 800k house whilst they coast on easy street.

[Anonymous No.12577799]

>>12574021
You realize you will have to cut all contacts soon or pay for them until their last breath anon? They will probably even ask to move in with your at some point in the future when they will not be able to pay someone to take care of them.

Feels good to have financially responsible and smart parents, they are still bluepilled boomers but at least they aren't complete fuck ups like some anon here.

[Anonymous No.12578038]

>>12572591
>make 150k for years and don't have enough liquid savings to pay off a 400k mortgage
Sorry OP looks like your parents are retarded. 150k between them and they live paycheck to paycheck

[Anonymous No.12578072]

get a job, you fucking crybaby, complaining about jews and niggers isnt gonna save your worthless ass now

[Anonymous No.12578109]

>>12573569
the genes of /biz/

[Anonymous No.12578123]

>>12578109
me dad used to be a melonaire before i was born, that was with his first family, i only had a father with 400k depth. anyways i am a crypto mellonaire so who cares about that literal WW2 birthed moron

[Anonymous No.12578132]

>>12578123

>mellonaire
>typed it twice so it’s not a typo

[Anonymous No.12578153]

>>12578132
you have to go back

[Anonymous No.12578886]

>>12573569
My folks are doing the same shit. Both of them aren't making very much money and most of it towards the house note. All they do is bitch about their financial situation and money. I explain well maybe if y'all don't spend as much it wouldn't be so bad. Then they'll argue their only spending so much because they have to pay debts. Well don't take on debt if its living beyond your means. They're just getting worse and worse. They get all butthurt that I'm doing alright saying im lucky where I'm at. What the fuck ya'll playing at? Saving for 2 years, buying a house, and having 2 roommates is luck. Riiiiight. They're still mad that I called the bullrun of '17 and made a few thousand. Boomers gonna boom senpai.

[Anonymous No.12579064]

>>12573931
I am very interested to know how you redpilled all this people. Most would just dismiss you for an lunatic if you tried anything like that. So how did you do it anon?

[Anonymous No.12579084]

>>12573569
Real estate is most dangerous market as they say, people leverage their whole lives without too much thinking

[Anonymous No.12579126]

>>12573931
Nice summary. Blowing out credit to make travel photos that pretty much sums it up. Instead of having 6 kids and save the white people.

[Anonymous No.12579154]

What’s a catchy phrase for the day boomers get put into nursing home with shitskin staff they voted into our country that steals their stuff and hits them? Day of the home?

[Anonymous No.12579220]

>>12579154
Day of the shit-filled adult diaper

[Anonymous No.12579236]

you need 2 bathrooms because god forbid you only have 1 bathroom oy veyy

[Anonymous No.12579360]

I take it for granted but I'm so glad my parents are frugal and smart with money even though we're upper middle class. Turned me into a frugal fuck with no debt after graduation.

[Anonymous No.12579465]

>>12579154
Day of the schlome