/biz/ - Business & Finance

[Anonymous No.16529324]

>be me
>keep doing stupid shit
>holy shit I'm a millionaire
>fast forward a couple of years of doign other stupid shit
>getting more poor everyday
>don't worry it will work out like it did the first time
>currently have 1k left in the bank
any other stupid guys like me in here share your experience.

[Anonymous No.16529331]

lol you poor

[Anonymous No.16529339]

>>16529331
nigga I know :(

[Anonymous No.16529415]

why didn't you buy and hold chainlink

[Anonymous No.16529436]

>>16529324
What stupid shit did you do to become a millionare and why isnt it working anymore? You sound like some stupid lottery winner who spent all their money.

[Anonymous No.16529562]

It's literally harder to go from rich to poor than poor to rich unless you're straight up retarded

[Anonymous No.16529569]

I had 800k last year and lost 750k on funding a blockchain project and consistently making a bad choice trying to buy the dip on ethereum constantly

[Anonymous No.16530113]

>>16529569
>lost 750k on funding a blockchain project

[Anonymous No.16530135]

welcome back

[Anonymous No.16530346]

>>16529324
>any other stupid guys like me in here share your experience.

I can bet a good number of linkers will be following your path in the next couple of years. Please, tell us your story.

[Anonymous No.16530398]

>>16529436
The answer to both your questions is crypto

[Anonymous No.16530568]

This is why I'll keep being a good wagie even if I make it.

[Anonymous No.16531075]

Even if I had enough money to not have to work ever again I'd still be doing something productive just in case things turned for the worst.

I bet you spent it all in drugs, vacations and worthless shit like expensive cars and a McMansion.

[Anonymous No.16532198]

>>16529324
Once poor always poor faggot

[Anonymous No.16532219]

>>16529324
how did you become a millionaire. seriously

[Anonymous No.16532225]

>>16529569
>kaiokek x100

[Anonymous No.16532489]

>>16529569

I put 80% of my stack in orion protocol so I expect to be in your 1m situation soon. Why didn't you invest in safer things?

[Anonymous No.16532534]

>>16529324
>>16529324
You’re supposed to live off of the interest/ returns if you want to maintain your lifestyle.. If you have $1MM with no income then you shouldn't spend more than like $50k/ year (and that’s pushing it).

[Anonymous No.16532546]

>>16529562
85% of inherited wealth never makes it to the third generation

[Anonymous No.16532582]

>>16532534
Oh, and your second big mistake obviously was to keep all of your money in extremely speculative assets.
You should have put most of it into stocks, bonds and real estate.
I know it’s too late for you now, but maybe other Anons will listen..
I lost $250k from the peak of my crypto stack but I’ve always had most of my money in stocks/ cash/ bonds. It still hurt like a motherfucker to lose that much though.
Once you get to a certain net worth (for me that was ~$300k) it just isn’t worth it to gamble with most of your money.

[Anonymous No.16532605]

>>16529324
>have 60k
>over a period of less than 6 months lose about 10k on the stock market

Almost fully out of the stock market at this point. Not buying (besides getting rid of stock option contracts) unless a recession or depression occurs at this point. I'd rather look for other money making methods.

[Anonymous No.16532615]

>>16532582
Ok boomer

[Anonymous No.16532629]

>>16529324
But don’t KYS or try to gamble it up OP. You have to learn to live with your mistakes and move on.. Realize that you now and are in the same financial situation as most other people... It’s not the end of the world.

[Anonymous No.16532634]

>>16529324 (OP)
>have 60k
>over a period of less than 6 months lose about 10k on the stock market

Almost fully out of the stock market at this point. Not buying (besides getting rid of stock option contracts) unless a recession or depression occurs at this point. I'd rather look for other money making methods.

[Anonymous No.16532641]

>>16532615
I’m not a boomer. Just smart about investing/ diversification.

[Anonymous No.16532657]

>>16529324
>have 60k
>over a period of less than 6 months lose about 10k on the stock market

Almost fully out of the stock market at this point. Not buying (besides getting rid of stock option contracts) unless a recession or depression occurs at this point. I'd rather look for other money making methods.

[Anonymous No.16532669]

>>16532634
How do you manage to lose that much when the markets are up 20%+ this year? Almost every single stock in the SP500 is up ytd. Stocks is a long term game though. You should expect pretty large swings in the short term.

[Anonymous No.16532688]

I held link since .30 and managed to break even or even lost some money swingtrading.

Don´t swingtrade kids.

[Anonymous No.16532700]

>>16532688
It's great if you know how to do it

[Anonymous No.16532709]

>>16530346
>I can bet a good number of linkers will be following your path in the next couple of years. Please, tell us your story.
fucks sake, at least give us the opportunity to lose it all in the first place
we may lose it all like stupid fucking gorillas but at least we will have lived, if even for a moment

[Anonymous No.16532728]

I was once up 2'200'000$ in crypto at its peak.

Then it dropped and I started only cashing it in 15k-8k range downwards.

Ended up with 1'300'000$ total, keeping 10% still in crypto and rest transferred to stocks.

Still really pissed off I fucked around and didn't lock in my profits earlier. I could be at 2 mil now.

[Anonymous No.16532737]

>>16532641
>puts his money into the stock market

you know that shits rigged right? im not even a gold and silver fag but even i know its bullshit

[Anonymous No.16532765]

>>16532737
>you know that shits rigged right? im not even a gold and silver fag but even i know its bullshit

Low IQ doomer propoganda.

[Anonymous No.16532783]

>>16532765
ok boomer

[Anonymous No.16532798]

>>16532728
$1.3M when? if you're in something standard like VTSAX, you should be near 1.7M today.

[Anonymous No.16532813]

>>16532798
I have 1.3M right now.

That is about 50% stocks, 10% bitcoin and 40% cash (don't know where to put liquid cash)

[Anonymous No.16532828]

>>16532737
>>16532737
I have no idea what your trying to say but I’m 99% sure you’re clueless. There are tens of thousands of publicly traded companies around the world. Are you implying that all of these companies’ profits are fake? Lol.. If you unironically believe that then just buy weapons, food, ammunition and fuel kek.

[Anonymous No.16532854]

>>16532828

How many of those companies will survive a multi-year hyperinflatory period followed by a currency reset? Ballpark guess

[Anonymous No.16532872]

>>16532828
im trying to say there is fake money being pumped into the market right now to prop it up. the fed is just printing and printing.

[Anonymous No.16532885]

>>16529324
Well, that's just fucking dumb, congratulations.

[Anonymous No.16532894]

>>16529569

[Anonymous No.16533355]

>>16529324
I became a millionaire in the early youtube days before quitting it and wasting the last 6 years of my life doing drugs and living stupidly lavishly and now I'm a hopeless alcoholic with $132 in my bank account that I've made through physical labor jobs. AMA.

[Anonymous No.16533375]

>>16532854
>How many of those companies will survive a multi-year hyperinflatory period followed by a currency reset? Ballpark guess
which is not happening in the foreseeable future . go away ron paul or whoever you are.

[Anonymous No.16534340]

Did you at the very least, the fucking bare minimum have a fully paid place of residence?

[Anonymous No.16534430]

>>16529324
It could be worse.
I've told my story here many times about how I made over 3 million in the late 90's thru 2001 and by 2005 I was broke and spending two years in federal prison for drug distribution... Jail didn't clear and focus my mind as much as the halfway-house did.
Been clean since and trading well for the past few years. Learn to take time off, travel and channel your energies in a positive experiences.

[Anonymous No.16534973]

>>16533355
What was your channel about?

[Anonymous No.16535249]

>>16529562
>its easier to make a million dollars than to spend a million dollars on trash

[Anonymous No.16535272]

>>16529562
you're overestimating the intelligence of average people

[Anonymous No.16535289]

>>16532872
yeah and if you own stocks that money flows to your assets