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/biz/ - Business & Finance

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12613035 No.12613035 [Reply] [Original] [archived.moe]

I'm unironically gonna earn >100k at 22 years now

how should I go about my financial future? Save 30-40% and buy real estate as soon as possible? Kill myself in my job and retire at 35 (this would be theoretically possible as after 10 years, I'd be able to earn above a million)

>> No.12613044
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>> No.12613136

invest in drugs and hookers. risk free money

>> No.12613139

>Save 30-40% and buy real estate as soon as possible?
This. Save/invest even more if you're able to. Living frugally for a few years while you put your money to work is the best thing to do for your future financial health.

>> No.12613154
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>> No.12613209

What job?

>> No.12613216

You do know 100k equates to like 70k right faggot? That’s enough to earn you the position of a house slave. You’ll be a little better off than the other slaves and be able to afford a few nicer things but you will still be a slave that probably won’t be buying a house in cash or retiring anytime in the next 20 years.

>> No.12613224

Literally just live like you only make minimum wage for 5 years and invest everything into bitcoin. Retire at 27. It's genuinely that easy.

>> No.12613257

imagine sticking your face up in there
right on sunset blvd
the smell...

>> No.12613273


>> No.12613352

>Kill myself in my job and retire at 35 (this would be theoretically possible as after 10 years, I'd be able to earn above a million)

>what is inflation?

>> No.12613362

invest in what? is real estate good?

>> No.12613383

I can imagine the smell

Mmmmmm oh yeah that smells wonderful

>> No.12613426

Be prepared for your goals to shift over time(gf, wife, kids, job change) but you’re on the right track. Just figure out a vision of a life style you want to obtain, and how much you need to get there.

Try to keep yourself debt free and ready to shift if new opportunities open up. Renting is a good thing for the short term. Also prepare for the recession that’s coming up. Protect your wealth. The market is at ATH right now so be safe.

If you can secure additional income from revenue generating assets it will accelerate your retirement schedule. RGA very. Some are extreamly principle secure (Money Markets, rolling CDs, etc) while others are more risky (rentals, business investment).

In the short term pulling 2-3% on a couple hundred K while the world burns and deflation returns is not a bad thing. When the up and common storm moves out you’ll be in prime position to buy properties, businesses, and/or reinvest in the markets. You’ve got the right mindset. Just move slowly at first, do your research, understand there are sharks everywhere, and alway protect the principle. There’s nothing worse than working hard for a decade to have it all wiped out because Powell has to bail out his cocaine buddies in Wall Street.

>> No.12613505


>Not investing in the biggest in crypto before the biggest revolution in the history of mankind,

You must be a women

>LAWL Real estate.

Bitch that market is so much in a bubble I'm gonna laugh when the market crashes 80-90% and all the Boomers and Zoomers like you get fucked the hardest you've ever been.

>> No.12613521


>> No.12613537



So you got hired by mister moneybucks to suck his dick as a consultant.

>invest in what? is real estate good?

Us virgin NEETlords are gonna tell yah the exact same thing. invest in crypto if your to stupid to understand because your a women then you'd never make it.

>> No.12613610

please elaborate
whats your background, education?
is this nepotism, luck?

>> No.12613674

dude are you autistic af? I'm not a woman

top BS and MS in a technical field

>> No.12613767

Let me guess, you're 18 and just got accepted to college? Yeah, the world doesn't just give you $100k per year because you earned a degree, stop listening to your school counselors, they are paid to trick you into debt slavery.

>> No.12613875

I did this, just buy a flat and get on the property market.

>> No.12613879


Are you a tranny then You must be full of estrogen to think like a women.

We cryptokiddies are gonna be rich with our stinkie linkies and your gonna be so salty

>> No.12613947
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I have 0 debt and finished my education

>> No.12613949

are you braindead? how is estate market going to crash, people will always need place to live and there is more and more people each year. I swear to god average iq on /biz/ is below 50

>> No.12613993

buy my bitcoins please

>> No.12614078
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Do all Americans earn 100k salaries? In my western euro cuck country you have to be a surgeon or top investmentbank player for that kind of money.

>> No.12614080

2007 called and says youre ignorant

>> No.12614105

OH NOES instead of 1500$ per month i might get 1000$ per month for rent. what a fucking disaster.

>> No.12614107


>People where saying the exact same thing in 2008

Boomers retiring and putting their houses on the market

Supply is kept artificially low to drive up prices by the banks and the price is inflated because most people take out mortgages.

Less demand from young people because let's face it most of them are poor as fuck and can barely pay rent.

Also even if you outright buy your property you still don't own it.

Also have you even tried to buy/sell a house the amount of fees and taxes that get taken out is insane.

When I make it I'll be sure to laugh at you poorfags.

>> No.12614115


When the economy tanks and your loser tenants are out a job you will get $0 a month

>> No.12614131


>> No.12614132

lmao keep dreaming people still need to live somewhere

>> No.12614193
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Tell that to the homeless.

>But those are just degenerates most people aren't like that.

You gonna rent out your space when the economy and people start losing jobs there isn't any jobs available and the banks are breathing down your neck with increased interest rates on that mortgage.

Fuggin top kek man

>> No.12614209

>banks are breathing down your neck with increased interest rates on that mortgage.
lol what the fuclk? are you fucking braindead i dont have a mortgage? no suprise everyone in this board is braindead poorfag monkey investin in chainlink

>> No.12614225
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Know your tax bracket
Save with intent to build wealth into passive income
Invest a small portion of savings

Some people like to keep a meticulous budget where they account for every receipt. It may do you some favors on your taxes.

Instead of keeping track of every little detail on spreadsheets, I budget income using percentages with specific goals.
>50%+ savings/investments
>25%- expenses (inc. food/gas/tax bills)
>25%- free
I keep within these ranges. My actual expense costs are a little lower (20%), so the money left over acts as an emergency fund. The other 25% is money to play around with.

Good luck.

>> No.12614230
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real brapaholic detected
we in dis

>> No.12614408

how the fuck do you save >50%?

>> No.12614422

good lord, just

>imagine the smell

>> No.12614454

It's really not hard when you're making over 80k. When you're making 50k working in a major city, it's impossible.

>> No.12614465

By having the remaining <50% take care of everything else.
What works for you? If you can't hit 50%, what's the closest thing you can hit? Do you care to or would you rather spend it? It helps to know.

>> No.12614478

Yeah they will squat in your shit and state will allow those niggers to legally take your property.

>> No.12614555

Save, and don't get fired

>> No.12614556

>22 years old
like nigga you're barely out of the womb
make your larps believable and/or work on that cover story

>> No.12614629

People get consulting analyst jobs out of college. It's not even that hard, but you need to usually be very sociable.

>> No.12614677

> consulting analyst jobs
what does this even mean and where are these jobs?

>> No.12614768

About 10% of America does. Most of them in cities where that is nothing to brag about.

>> No.12614778

Go to a top school and you can get a job in NYC being a 60-80 hour a week wagie at McKinsey for 100k

>> No.12614799

It means you work for companies like Mercer in Chicago and try to solve problems for clients on teams of people from relevant departments. A good example is running the numbers on relocating a factory.

You need to graduate from a good college though. I went to a private in the city, and I was only considered for a preliminary interview because my GPA was stupid high. I bombed it though because I'm terrible at social interactions.

A lot of it is client facing (not immediately of course) and you might be traveling around the country to deal with shit.

>> No.12614819

sounds like being a Jannie, lol

>> No.12614866

I don't see the relation, but okay.

>> No.12615112

Big 4 accouting firms do them in Ireland too but you;re more likely to get about €60k and that's with a few years BA experience.

I didn't want to travel so said fuck that and stayed being a BA but went contracting instead, so 6 month jobs for different companies. Money is good.

Tax in Ireland is a CUNT though

>> No.12615239
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is it that bad? I keep hearing about how people in the bay area of NYC have to live from month to month. Even with 100k wages.

thats insane

>> No.12615307


split it three ways

live with your parents while you do this

>> No.12615349

100k in SF is paycheck to paycheck. NYC is too if you actually live in the city (not have a two hour commute). Both cities have a cost of living comparable to Zurich.

>> No.12615464
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>in a technical field

what field?

>> No.12615625

Yes, buy houses, apartments and rent them out. You can also just contact people buying estate and invest a couple of thousands with them and they will handle the larger chunk, hence get a return depending on your investments every month.
I would have started this earlier if I knew how fucking simple it was, if I started doing this instantly when I turned 20 (when I got into investing) I would probably already have my first million by now when I'm 25. It annoys me almost every fucking day knowing this.

Still though.. I'm well on my way now, my first million in probably 2-3 years.

>> No.12616487

Braaaap x4

>> No.12616519

>top bs and ms
Means absolutely nothing. You clearly have no degrees period.

>> No.12616574


Consulting is up-or-out in many places. I have friends that spent some time at BCG and yes, you'll make a lot of money. Don't expect it to last forever though. Both of them lasted about 5-7 years. Once got promoted and is still there, the other bailed for a lower stress role at Accenture which still pays okay, but not BCG or McKinsey money.

>invest in what? is real estate good?
Real Estate is good if you have time to manage it or time to find a good management company. The non autistic answer is low expense ratio index tracking funds. Put your shit in there for a few years and try not to touch it for as long as possible. Go read bigger pockets if you think real estate is interesting. I didn't want the stress of putting up with tenants so I just invested in the market.

>> No.12616664

Just bank your money for a year. Wageslaving isn't for everyone.

>> No.12617642


>> No.12618055

i like whats going on in here

>> No.12618295

$100k is ~$5700/mo take home, fine for one person. Cost of living is awful here but you won't be living paycheck to paycheck if you're not absolutely pissing your money away. A decent lifestyle in Silicon Valley will run:
>$2200 1 br rent w/ 10 min commute
>$150 utilities, phone and internet
>$1200 food and drinks- eating out a lot
>$500 other shopping
>$500 student loans
>$1000+ savings

You could probably stretch to $2000/mo if you cooked your own food and didn't drink at bars- but the 22 yr olds working 60 hr weeks aren't likely to do that. I could see $100k income covering a married couple with sacrifices, definitely no kids.

>> No.12619198
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why do the fuck do you think I would larp

I agree, I might not even do this for more than 2-3 years but it will enable me to get a high paying job elsewhere afterwards in industry

>> No.12619217

>>$2200 1 br rent w/ 10 min commute
>>$1200 food and drinks- eating out a lot
What the shit

>> No.12619237

>invest in what?
Index funds.
Three fund portfolio.

>> No.12619430

unironically this. i'm you 4 years in the future. saved ~50% every year, income grows but keep expenses close to the same. have 400k in total stock market shit, 50k in crypto (put in 70k so far throughout the course of 2017)

>> No.12619484

InShaAllah this happens

>> No.12619501
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buy drugs fuck whores or your fucking asking for a midlife crisis spergboy

>> No.12620212
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nice m8

>> No.12620322

Work hard, live like a monk and put all your money into SAFEX.

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