/biz/ - Business & Finance

[Anonymous No.16455488]

For someone in their late 20s/early 30s with a $100k/yr job, what is the quickest way to actually make it?

Investing heavy in risky crypto?

Entrepreneurship?

Going back to school?

The 9-5 gig is starting to drain me and I feel like my net worth is growing so slow to the point where I wont be a million before 60 and by that time life is pretty much over...

[Anonymous No.16455503]

>>16455488


another retarded loaded ass question.

keep your job and learn to properly save and invest your money

[Anonymous No.16455515]

Love to help but I'm 37.

[Anonymous No.16455533]

>>16455488
I'm 27 and make $50k. Pretty sure I should just kms

[Anonymous No.16455534]

>>16455488
I'm just waiting to die so I won't be much help.

[Anonymous No.16455560]

>>16455503
I save almost 20% of my salary. Investing in the stock market has definitely helped, but its still slow and steady.

>>16455515
damn that sucks no offense

>>16455533
keep pushing my friend. Increased salary will come

>>16455534
sad

[Anonymous No.16455571]

>>16455560
>20%
http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/

Enjoy your 37 year wagie sentence.

[Anonymous No.16455575]

What is "make it" for you?

If it's not that large of an amount, you can go into tech, and/or go up the corporate ladder. Engineers at top companies $400k+, directors $1M+, VPs of smaller companies also make $1M+.

Starting a small business that makes $500k-$1M profit is definitely doable too - although it may take a lot of failures and time to get to that point.

Another route is founding a startup and aiming for an acquisition. Usually you can cash out a few million as a founder.

I think investing in risky stock/crypto is probably the least reliable way to become rich. If you have a high paying job, and you have a diverse portfolio (not just 100% crypto), investing can definitely help though.

Going back to school is worthless, most school degrees are worthless unless you plan to go to grad school, but that takes years and many of the jobs you get after aren't worth it from a time invested perspective.

[Anonymous No.16455648]

>>16455575
yeah good point.

I would like to have $1MM before I am 45. That is my goal.

Honestly, starting a business is what I am leaning towards as the best way to make it. I am just struggling with an idea.

I am always trying to thinking: What problem can I solve? What process can I make better? What value can I add?

I think if I can figure out an "accessory" to a current invention or idea, that would be the easiest route. Like Levi Straus making jeans for the gold rush miners in the earlier days.

[Anonymous No.16455822]

>>16455648
There are many solid businesses that work even without solving something "new". Just look at all the restaurants, services, retail business, etc all around for example.

Sometimes it's just about offering a good product/service and building up your customer base/brand.

Usually ideas that are new or solve something that hasn't been solved yet have the potential to be multi-million/billion dollar ideas, but you don't always have to aim for those.

[Anonymous No.16455833]

>>16455533
based
32 making 30k

[Anonymous No.16455981]

>>16455822
I wish I had a relatively unique skillset like woodworking or metal working

[Anonymous No.16456003]

>>16455488
unironically just toss like 1k per month into a different low mcap shitcoin and accept the bleed
when you have a feeling that you've found one, accumulate over time

[Anonymous No.16456047]

>>16455533
im 28 and only make 12 bucks an hour, if i can wake up happy everyday and excited for life so can you.

it helps that i work at a really chill record/comic book store with amazing people and get to talk to customers about stuff i love all day.......also i guess knowing im getting my rich grandpa who worked for Berkshire Hathaway who considers me his actual son holding it down with his stock portfolio and fully paid off house in a state with no income tax when he dies doesn't hurt either lmao

[Anonymous No.16456062]

You need to reduce consumption and increase income, while investing the money that you do save into speculative investments.

>Save 50K per year
>8% annual return
>10 years: $724,328

Go look at your expenses and figure out ways to cut. Don't go into starvation mode, but *think* before you spend.

Biggest expenses for people are usually housing, insurance, car maintence + fueling.

[Anonymous No.16456070]

>>16456047
how do comic book stores still exist, especially paying their wage slaves $12 an hour? You would have to sell 8 $12 comics to break even on the labor and I feel like that is a stretch to do

[Anonymous No.16456108]

>>16456070

The nerdy jewish shit is big money now. You don't need volume if you're trading on big ticket items.

[Anonymous No.16456112]

>>16456047
take the mailpill anon. youll be stuck in a middle middle class wage bracket for the rest of your life but it could be worse

[Anonymous No.16456144]

>>16456062
the problem is i like going out, getting food and drinks with friends, and being social. Other than my basic living costs, that is a big chunk of money idk if Im willing to give up.

[Anonymous No.16456153]

>>16455533
If you are happy you are well ahead of lots of people making more than you

[Anonymous No.16456160]

>>16456070
it's mostly the records, we get very exclusive prints and test presses of records you can only buy through our company. they may be different colors and have extra tracks. we get shitloads of business through that.

also i was very shocked about this part but we have over 200 people with monthly comic book subscriptions, as well as a line of people already waiting at the door every wednesday (day when new comics come out)

some of our stores are REALLY cool though, our boston store has one of the heads from the original "alien" movie for sale, and fucking Die Antwoord just played a live show in the store not too long ago. my manager got to meet method man from wu tang when he came in to buy a tshirt recently lol

[Anonymous No.16456175]

>>16456112
im already in the 1% i just don't consider my grandparents money my own until they die

[Anonymous No.16456183]

>>16456144
well you will never make it then

[Anonymous No.16456186]

>>16456112
you do know what Berkshire Hathaway is right? my grandfather was high up enough in the company to work with warren buffet on a first name basis

[Anonymous No.16456202]

>>16456183
but is depriving yourself of your youthful years having fun with friends just so you can retire a rich but lonely loser with no fun memories really "making it"?

[Anonymous No.16456211]

>>16456144
lmao you're 28 and still focused on "having fun" like you did when you were younger. with a shit tier comicfag store "job" which only affords you take out food and bar drinks and a few other consumables

you're not gonna make it bro. id be having existential dread every moment if i were you

you're still immature and not a hard worker and you think wasting your time chatting with fat titted numales about how epic deadpool is and how cool bernie sanders and homosexuals are for table scraps is spending your time wisely

i bet you're single

[Anonymous No.16456228]

>>16456175
>>16456186
misread

[Anonymous No.16456236]

>>16456211
im the comicfag store guy, you're talking to a different anon, we just happen to both be 28 lol

[Anonymous No.16456239]

>>16456202
you dont need to spend more than you can afford in your youth. make changes then if you need to go out. Im in my late 20's too so I get it.

You dont need to spend money on alcohol out. Take a flask with you and sneak it in a glass of coke or something. Eat dinner before heading out. Then when youre out you spend less on food.

How much do you spend in a week on entertainment?

[Anonymous No.16456262]

>>16456236
oh my mistake

get your shit together now motherfucker. you dont have much time before the point of no return

[Anonymous No.16456310]

>>16456262
>>16456186
>>16456175
>>16456160
no worries fren, i appreciate motivation but i assure you everything is gravy

[Anonymous No.16456344]

>>16455560
You need to save 90%+ of your after tax income if you wanna make it.

That means using your housing allowance to get a rental property, and renting the whole place out. Sleep in the garage or something.

[Anonymous No.16456346]

>>16456262
that being said i do agree with your advice for the other anon though, giving a fuck about going out with friends at this age will put you in a really bad way.

aye chatting with the numales about their comic shit (i like the records part of the job idk shit about comics) aint so bad, im just happy i finally get to work with chill people

[Anonymous No.16456381]

I know location and shit maters but damn just how greedy are some of you? I'm doing just fine on a shitty 27k a year salary and I'm 36.

[Anonymous No.16456418]

>>16456160
I bought my physical copy of MF Dooms Operation Doomsday at the Boston store years back, fun spot.

[Anonymous No.16456430]

>>16456381
to be fair you are on a business and finance board,. i wont be satisfied until a dreamy queeny is making my weenie creamy in a lamborghini

[Anonymous No.16456436]

>>16456239
I know, i should probably try this. But i dont want to seem like a cheap bastard to all my friends either.

And I usually go out on a date at least 2-3 times a month. Idk, I budget like $150-$200 per weekend for food, drinks, and fun

[Anonymous No.16456440]

>>16456381
I'm 30 making 65K in the midwest, and feel like a failure.

[Anonymous No.16456460]

>>16456381

some of us have higher expectations for this thing called life, no offense

[Anonymous No.16456470]

>>16455488
Buy ethereum. Thank me in 2021.

[Anonymous No.16456477]

>>16456418
1. grab a cannoli from faneuil hall or the north end
2. go for a walk in common park
3. hit up newbury street people watch and grab some goodies
4. end the night with a show at the middle east and meet some Harvard cuties

recipe the perfect boston day trip

[Anonymous No.16456480]

>>16456381
>I'm doing just fine on a shitty 27k a year salary and I'm 36.

imagine being you being 66 years old with no money living in some god awful spic/nigger wasteland neighborhood

that's where youll be at that age with that income

[Anonymous No.16456483]

>>16456381
>27K at 36
Absolute brainlet. If you're poor I automatically assume you're dumb, sorry.
t. 38 yr old making 800k/year.

[Anonymous No.16456498]

>>16456480
YOU THINK THE UNITED STATES WILL STILL EXIST IN THIRTY YEARS? REALLY, NIGGER?

[Anonymous No.16456506]

>>16456483
what do you do for work? i lucked out with inheritance but i still like to hear how others made it

[Anonymous No.16456519]

>>16455515
You’ll make it, buy LINK, ETH and BTC in that order. BTC alone is guaranteed 10x a year and a half from now.

[Anonymous No.16456533]

>>16456506
>I lucked out with inheritance

idk man, granpappi hasnt kicked the bucket yet. He could go on a dementia fueled nihilistic rampage and blow it all on prostitutes and drugs after he realizes nothing fucking matters when your dead

[Anonymous No.16456885]

>>16455533
Thanks for making my day. 25 only making 70k thought I was a loser.. lmao

[Anonymous No.16456902]

all those screens and all those buildings full of ivy grads and high tech computers and still can't beat the market kek

[Anonymous No.16456973]

>>16456533
im already the sole name on his will, plus theres a few....."legal fail safes" i may have had the lawyer set up. plus he's in a hospital bed and barely sentient at this point, he can barely do more than move his neck, im more afraid he's going to suffocate to death on his own tongue at this point. i would gladly be a minimum wage cuck at the comic book store the rest of my life if it meant he wouldn't die, he is my best friend

[Anonymous No.16456992]

>>16456885
aw fuck me I could go for a bowl of this right now

27 & 125k aud here

[Anonymous No.16457002]

>>16456973
hospital bed at home, not actually in hospital or nursing home, old bastard doesn't trust american medical industry at all and didn't want anyone trying to fuck me out of a stable future.....holy fuck im crying my eyes out typing this....it just hit me nobody on earth is ever going to love me this much again...even a qt wife or the love of my children could never match this

[Anonymous No.16457022]

>>16456344

See this is retarded

Gotta make it otherwise

[Anonymous No.16457096]

>>16455488
All in on Factom

some big news is about to start coming out

[Anonymous No.16457225]

>>16456885
I'm 25 and NEET

[Anonymous No.16457834]

>>16456047
>it helps that i work at a really chill record/comic book store with amazing people and get to talk to customers about stuff i love all day
It easy to be happy when you are retarded manchild.

[Anonymous No.16457919]

>>16457834
cope harder faggot. good luck spending every day at the job you hate

[Anonymous No.16458218]

>>16455648
>I am always trying to thinking: What problem can I solve? What process can I make better? What value can I add?
I'm guessing you've a sufficient amount of capital saved up.
As other anon said look for startups and invest on one of them if you think they gonna make it. Also, you can steal ideas from them and make your own with little bit of your modifications.
>>16455575
Making at least a million before reaching 30. I'm 26 and haven't worked a single day, but I'm good with programming and have this idea for a while now and I am slowly working towards my goal of launching this product before 28 and move to other country if it lifts up.

[Anonymous No.16458611]

>>16455488
Never put all your eggs in one basket. Try out all of them...If you really want to invest in crypto, I would suggest CENNZ because they are literally one of the few projects out there with actual decent amount of users

[Anonymous No.16458628]

>>16455571
>FIRE

[Anonymous No.16458649]

>>16455560
20% is too fucking low, why even bother

Dont make excuses and start with atleast 50%

Its basic math, you can find an investment with 10% or even 20% returns, but will never make it if you invest pennies in it

[Anonymous No.16458786]

>>16455488
Invest more in crypto, embrace frugal living and drop your consumerist vices. You should be 8% to making yearly purely by saving excluding taxes. If you can't live frugally you don't deserve to make it.

[Anonymous No.16458859]

>>16455488

Depends on your definition of "making it"
Personally I feel like fully making it, is a net worth of at least >5 Million Net Worth. aka almost 200k a year even at 4% withdraw rate... This means you're easily comfortable anywhere in the world

Steps

-Work hard at your job, and make smart moves so you're making ~6 figures at work.
-Save >50% of your income
-Use that money to start a side business. Ideally, you can "double dip" at an office job, and work on your business on the downtime.
-Work hard until the business is making around ~6 figures.
-Now you should be able to invest 10k-15k a month easily Put this money into either Stocks, or Real Estate (Ideally both, but you might not have time to learn real estate if you're running a buisness, also crypto could be a good option as well, however I don't play in that space, so I can't explain how those assets would fit into this plan)
***-At this point you're pretty much on track to make it eventually... Even if you just get on average 7% return within 20 years you'll be scratching the 5 milli mark (depending on how much your business is valued at) So even if you start at 30, you'll have made it by 50.

[Anonymous No.16458861]

>>16456992
What is that, like $50k USD? Lmao

[Anonymous No.16458863]

day trade
create your own business
invent something
invest in small businesses

Everything is going to be a grind.
Hitting it big is in less than 10 years is an astronomical chance but it could happen. Play your hand correctly and don't blow it your you'll set yourself back

[Anonymous No.16458866]

28 y/o making 40kUSD/year, associates degree (working on bachelor's but idk)

>30k in 401k
>70 oz. silver
>6k USD cash
>0.83 BTC, 12 LTC, 8 ETH, 1180 LINK

Was on hedonic treadmill until like a year, year and a half ago. Is it too late for me? I'd kms if it wasn't for my girlfriend and immediate family. I'm not looking for planes and yachts, just not to spend the rest of my life as a wage slave

[Anonymous No.16458881]

>>16458859

26 with a ~1.5 Million net worth
Make about 200-300k per year.
However, I've had some really good luck with investments over the past 5 years, and I save around 90% of my income.

[Anonymous No.16458901]

>>16458649
40% of your gross income is where it's at. You pay 40% in the highest bracket so pay yourself that too and live like a monk. Invest in realistate. No single door home stuff. I'm talking 4+ doors. Learn how to fix shit and bam. The ball starts rolling. Keep reinvesting in realistate, in corporate yourself and soon you'll need to actually start hiring people to help you out. Before you know it, you own an apartment building with 300 units. Even only 80% full you're making more than any wagie

[Anonymous No.16458985]

>>16455981
Learn it

[Anonymous No.16459270]

Bump

[Anonymous No.16459453]

>>16458901
Why are you saying “realistate”

[Anonymous No.16459928]

>>16458866
Make your stack of 32ETH.

[Anonymous No.16459959]

>>16458901
And then you die.

[Anonymous No.16460028]

>>16455488
Idk dude, I work 60 hour weeks and I made 40k a year so by my logic you should be saving 5k a month. Enough to be a millionaire in 20 years.

[Anonymous No.16460051]

>>16459928
Was aiming for 1 BTC then accumulating 32 ETH

[Anonymous No.16460334]

>>16455648
You’re 30 and want $1,000,000 by 45?... Dude buy a couple Bitcoin and relax...

[Anonymous No.16460340]

>>16460051
Buy some xmr too. It's the only coin with an actual use.

[Anonymous No.16460469]

>>16455488
>earn 100k /yr
>my portfolio grows too slow boo hoo

Where do you live? In socialismville or how does your money not grow fast enough? How's your monthly expenses look?

[Anonymous No.16460550]

>24 yo
>graduating by 26 with a BS in math from ok state school

Will there be prejudice in hiring me? I've got an active github portfolio and I've always self studied, just never had the time / money for uni (apart from getting boned by student loans, which i refused to do). I mostly just want to hop into grad school now that I have stable income from a side business and do grad school and run the biz concurrently.

I want to contribute more to the world than hustles and wanna go hard in maths I just worry it's "too late" but I'm not gonna let it stop me from trying my hardest.

If grad school doesn't work out I guess I'll try and nab a dev job, it's likely my only true moonshot chance at getting 100k+ / year.

Just looking for advice luv u retards

[Anonymous No.16460783]

>>16455488
larp. Sage in all fields

[Anonymous No.16460792]

>>16455488
25,126k yr

Inside sales, invest 75% income to crypto. This is the fastest way to making it that I know of

[Anonymous No.16460796]

>>16455488
asymmetric bets

[Anonymous No.16460806]

>>16460469
>>16460469
900 gorillion a nano second.

[Anonymous No.16460904]

>>16460550
>Will there be prejudice in hiring me?
No. You're a young guy, anon.

[Anonymous No.16461284]

>>16457002
beautiful bro, its nice that you had that in your life. Its like the ancient greek concept of true love.. between an older man and the boy he was guiding

[Anonymous No.16461360]

>>16455488
Get pegged.

[twoex !!V9FzrjkzkaL No.16461387]

>>16455488
I'm trying my hand at real estate, ~115k/y here in LCoL area.

[Anonymous No.16461395]

>>16455488
wanna know how I can tell this is a larp?
>claims to make 100k/yr.
>how to make it biz?
>asks if he should go back to school
kek. yes, you should def go back to school and take on massive debt for another meme degree that won't pay you any better.

[Anonymous No.16461528]

>>16455488
You’ve got it backwards. Try to find a well-paying but ultimately low-effort/high-freedom gig. Tech is great for this if you’re in the field...dev, sales, consulting all fit the bill. 100k might not feel like a lot when you’re slaving 8-5 for it dreaming of breaking your chains everyday, but it’s more than enough if you’re allowed to do the job from anywhere 90% of the time. Never ever work for a large corporation btw.

[Anonymous No.16461580]

I earn around 8k dollers a year. Third world country. I hope I can make it too one day.

[Anonymous No.16462305]

>>16457225
Same bruh

[Anonymous No.16463312]

>>16455488
Invest in mtv, China's ETH 2.0 to a 2M MCAP. They are finishing the tech now and will then start to push marketing very soon. Top, top tier team. Sharding. Clean tech compared to ETH's difficult transition to ETH 2.0