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/biz/ - Business & Finance


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18634795 No.18634795 [Reply] [Original] [archived.moe]

Can anyone top mine?

>parents have ~2m worth of stock in a single company due to rsus/bonuses
>company will obviously be affected by coronavirus
>tell them to sell in january and diversify which they should be doing anyways since this is more than half of their nw
>they dont
>now those stocks are worth ~700k

>> No.18634810

>>18634795
I'm ashamed and it's not even my parents.

>> No.18634830

>>18634795
>stories about parents being retarded with wealth
dont remind me. i can feel myself getting angrier thinking about it

>> No.18634992

>>18634795
Oh shit, they might have to settle for silver spoons instead of gold

>> No.18635015

Also i shilled BTC before it was $200 to my parents and begged them to invest at least 10k USD but they didn't listen.

>> No.18635074
File: 130 KB, 832x690, 1587558286315.jpg [View same] [iqdb] [saucenao] [google] [report]
18635074

>>18634795

My dad lost 175k he inherited on a single oil play after he knocked up my mom on a tinder date. Its gonna suck when I'm born into a life of mediocrity so i might just stay in the womb and shitpost on biz

>> No.18635159

My mum invested a lot in some random corona vaccine stock 1 week ago.

Already down 20% :(

>> No.18635228

>>18635074
Kek good post anon. Also sorry for your loss.

>> No.18635323

>>18634795

What kind of company? The ridiculousness gets ridiculouser the more the industry was likely to be impacted.

>> No.18635972

>>18635323
Boeing.

>> No.18635983

>>18635074
nice and meta

>> No.18636265

>>18635074
:>]

>> No.18636387
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18636387

>>18635972
Oh no no no no nooooo

>> No.18636439

>>18635074
Biz is not dead

>> No.18636733
File: 503 KB, 1440x1724, emergencyy siiiiir.jpg [View same] [iqdb] [saucenao] [google] [report]
18636733

>>18635074
They guy who lost 175k on oil the other day.
IS that you fren?

>> No.18636841

>>18634795
My dad has made pretty shit investments and businesses over the years, but he never failed to provide for his family through hard work.
I respect him so I would never tell him what to do with his money if he didn't ask first.

>> No.18636867

>>18634795
Damn. I told my parents to sell in January. Their loss is a lot less than yours though. rip

>> No.18636963

>>18635074
you have to be 18 to post here. reported

>> No.18637001
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18637001

> dad buys sqqq in jan and sells in early march
> puts everything in tqqq
>market crashes

>> No.18637344

>>18634795

My dad has agritculutre land in a third world country. He wont sell it because hes emotionally attached to it. Its a tribal thing. We live in UK. The land is worth £4m+

I feel like roping myself.

>> No.18637422
File: 44 KB, 720x764, 1587579673034.jpg [View same] [iqdb] [saucenao] [google] [report]
18637422

>>18634795
>Parents split when I'm 3 years old
>Mom turns into a tweaker who fights her boyfriends in epic screaming matches and can't hold down a job to save her life
>Pissed that I refuse to help her now that she's in her 60s

>Dad made $80k-100k a year throughout my childhood
>Somehow no house or savings, just a bunch of fucking signed baseballs he bought on eBay
>Smoked a lot of pot
>Died when I was 20 with an injury settlement left to me worth $23k

I don't get it, boomers had it right down the center of the plate and all they had to do was take a swing and my parents couldn't even do that.

>> No.18637431

>be rich family of a parents and 3 offsprings
>dad want to buy mercedes a250 for big bro
>I told dad not to do that since we already have 9 unused cars plus dad have his own government-issued driver
>dad love him and spoil him too much and end up buying it for big bro
>big bro being spoilt led him to demand for more expensive things such as vw polo gti and merc a450
>dad used mom's name to buy 7th house in a developing area
>told dad not to buy house anymore since there are some of our houses that is not yet rented
>now he have to sell his house at a loss
My family is the thesis of "dumb money" and I cannot wait for them to die (corona pls come to my house) so I can liquidate their so-called "assets" and put it into stonks/glypto, and live my life moderately

tired of stupidity

>> No.18637462

>>18634795
Like you kids know more than your parents.
Fuck off.

>> No.18637481

>>18637431
but i dont think i will make it either.. I am a lazy boi who reads physics and play csgo all day. I have compsci degree but I hate all the social things (interviews, party, dinner, etc.) that are entangled with the job. Now I am trying to script a trading bot so i can make some monni..

Now I understand the characters in the movies which only wants the inheritance money

>> No.18637508

>>18637462
I know not to have the majority of my nw in a single company, especially close to retirement. Fuck off

>> No.18637527

>>18637422
Pretty much the same thing except it was booze for mom and for dad a new wife 20 years younger than him wasting his money on expensive holidays while I get nothing. Boomers are just so predictable I'm not even mad anymore.

>> No.18637535

>>18637462
Not OP but I am not saying that I know more. Just that I know what they don't know, and they know what I didnt know. Just trying to help them is all.

Such as all these new ways of making money (dropshipping, app/game market, youtube, twitch, crypto, etc.), I have been telling them for years now that the world has changed, and they cant treat the current age like before. Things are getting faster, smarter, even the bad guys and scammers. My point is, we have to adapt. Telling this to myself too.

>> No.18637565

>>18635972
LOOOOOLLL

>> No.18637612

My dad has over 30 grand invested in Amazon, but I think Amazon is a safe bet right now. My dad also HATES crypto, called all of it a scam, said he wouldn't touch it with a stick. Dunning maybe he's based.

>> No.18637625

>dad makes a lot, $100k+ from the 90s.
>gets into .com bubble.
>makes $86gs on penny tech stock
>holds for more, loses all of it
>takes no lesson from this, but does take a lesson from losing a few Gs selling early in the .com crash.
>Flash forward to now plus a big inheritance
>Worth $2.6m
>Still has a lot in equities despite being a 65 year old lifelong smoker and alcohol who should retire now to enjoy retirement at all.
>Still tons into equities
>Tell him to sell in November because the yield curve, corporate debt levels, dropping home sales/construction, etc.
>"You don't lose until you sell!"
>Yeah but you're up huge amounts and should go into fixed income.
>Doesn't sell when I tell him about the Pandemic.
>Equities crash, loses tons of value. Luckily he hasn't sold like, ever, so he is still up on old money.

I mean, he has enough cash to live fine for awhile, but it's so stupid. He and my mom want to move or get a summer house and they have so much of their networth tied up in stocks because my dad doesn't know how to place a sell order.

>> No.18637628

>>18634795
I told my boomers to sell right before the dump. The thing is boomers need to hear news from another boomer on tv, then it's credible.

>> No.18637642

>>18637344
India?

>> No.18637687

>>18637481
Because youre worthless scum yourself

>> No.18637725
File: 48 KB, 992x558, Dave-Ramsey.jpg [View same] [iqdb] [saucenao] [google] [report]
18637725

February of this year
>Mid 60s parents preparing their house to put on market for retirement
>Neighbor gets them an offer from someone they know for ask before they put it on the market
>Father refuses offer to post a higher price
>House hasn't sold

>> No.18637747

>>18636733
What s the story? Havent been here in some time, so need to catch up

>> No.18637762

>>18637625
Your Dad sounds fucking based. You're the moron here my man.

>> No.18637860
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18637860

>My dad makes 90k a year but my mom doesn't work.
>they just paid off the mortgage on the house 5 years ago car is paid off 2 years ago
>cut back on all bills by getting rid of oil heat and cut cable.
> no more kids in school so no more school bills
>ask why my mom and dad are always saying where are poor and struggling even with all the freed up money
> say its because my dad doesn't make enough to support family
> me and sister have to give trump bucks for "food to survive"
> mom buys ipad with said trump money
> find out they spend 8356k a year on cigarettes.
> subscribed to 6 or 7 magazines and 2 newspapers.
> buys new 1400$ dog
> house is falling apart around our ears
> pays vanguard to invest for them and hasn't made money since 2007

THEY NEED A FUCKING FINANCIAL ADVISOR AND I NEEEED TO MOVE OUT NOW

>> No.18637866

>>18634992
Kys poorfag

>> No.18637899

>>18635159
like betting on mining companies in a gold rush. Buy the company that sells shovels, not the one that digs the gold

>> No.18637912

>>18635015
How much did you invest at $200?

>> No.18637922

>>18637625
Lol reminds me of my friend who is playing the long game, told him how corona will fuck up the markets if things get locked down but he said 'In time the market always goes up', yeah but no point holding onto equities that are garaunteed to crash. That's no longer a smart investment strategy in 2020

>> No.18638172

>>18637481
Sounds like your dad dotted on your brother because he’s a social butterfly chad who will pass on your parents’ genes. Meanwhile, you’re a genetic dead end who wouldn’t even go for interviews.

>> No.18638215

Thankfully not my father but a friend's father bought 3m EUR in equity. This February. He's never held stocks before.

>> No.18638244

>>18638215
fucking RIP oh my god

>> No.18638292

>>18634795
Talk to dad about stock market bubble and potential collapse back in November. Move my $120k retirement account 100% into government bonds. Suggest he do the same just for a few months since he's retired and doesn't necessarily need growth, if he missed out on any listening to my idea. He assured me that he spoke to his financial advisor and was told everything is awesome.

Fast forward to March, he lost I assume 35% of his retirement. Suggest he doesn't withdraw any of it and try to ride it out until partial rebound at least. Assures me he spoke to his financial advisor and was told everything is awesome.

>> No.18638304

>never saw a penny from father
>Had numerous nervous breakdowns trying to get by with rent fees and studies
>He has over half a mil in cash and precious metal in a house somewhere plus acres of lands from his uncle
>Will most likely die without ever spending a cent and not give shit to his children
If I ever make it this nigger will not see a penny from me

>> No.18638333

>WAAAH YOU'RE SUPPOSED TO GIBSMEDAT MONEY SO I WONT HAVE TO WORK AFTER I POISON YOU MOMMY
Why do zoomers think they're entitled to getting jack shit? When I have kids and find out they act like you worms, I'd disinherit them on the spot.

>> No.18638337

>>18638304
>If I ever make it this nigger will not see a penny from me
He doesn't sound like he needs anything from you. Move on, be happy, don't waste your brain on resentment

>> No.18638346

fuck all you non-larping anons with wealthy families. i need medical treatments to walk again . you fags could help solve my problem and it would be nothing to you. i hate you all.

>> No.18638353

Mom was on ssi and we had welfare medical and dental from the government.
I still got fucking wacky ass teeth because my mom didn’t wanna go to the dentist every few weeks to get braces adjusted.
It would of been free. All of it

>> No.18638357
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18638357

>>18638292
live footage of that account currently

>> No.18638410

>>18637922
This type of mentality is so stupid if you invested since 2008 you would have seen your portfolio quadruple in what way would the average person think oh ur right mr neckbeard this is the stock crash that conspiratards have been pushing since 2011 this must be the crash now.

Other anons are right you're just too young to realize that holding 1% gics is retarded in the long run

>> No.18638434

>>18637612
He sounds smart

>> No.18638497

>boomer parents have made millions in the Australian housing bubble by just borrowing and buying property for 40 years straight
>think property never goes down
>government it trying every scheme possible to get new buyers in the market to prop it up
>they encourage my brother to do the same as them
>he buys a property before COVID hit
He will probably end up with negative equity, my parents will be fine, but I suspect they will lose a lot of their profits on some properties.

>> No.18638498

>>18634795
My great-grandfather was worth over 130 million (in today's money). He owned a tobacco company, among other things. He lost most of it when he was imprisoned.

My grandfather was worth multiple millions from about 1955-85 (self-made after fighting in WW2). Somehow lost most of it. His property at one point included Villa Meneghini in Sirmione.

My middle-class father had 4 children when he had barely any money. One of the most retarded financial decisions possible.

>> No.18638526

>>18637344
He is right and you are wrong. Fiat paper funny money is about to become worthless and arable land the most valued resource in history.

>> No.18638534

>>18637912
:::Crickets:::

>> No.18638549
File: 90 KB, 285x239, wombnigga.png [View same] [iqdb] [saucenao] [google] [report]
18638549

>>18636963
18 WEEKS IN THE WOMB NIGGA
POPPING SOON NIGGA
GONNA SIP TIDDY MILK AND GET BIGGA

>> No.18638552

My dad gave out loans.
Predatory style loans.
Made huge amounts and even received real estate but it's morally degenerate and greedy as fuck

>> No.18638553

>>18638410
Why can't you invest in stocks since 2008 and pullout and invest in more suitable assets when there are obvious signs of a market crash? You act like you can't do both things.

>> No.18638564

>>18638497
I closed on a home in PA a week before the lock down started. I'm literally the guy who bought the absolute top and I put 20% down.
JUST

>> No.18638570

>>18638552
Why is it degenerate? If your father wasn't giving them loans who else would?

>> No.18638602

>>18634795
Mommy, didn't buy me my link.
*stomps feet, holds breath

>> No.18638614

>>18638570
Maybe the idea is NOT giving loans to idiots in the first place.
That is why this whole credit rating system was invented for.

>> No.18638640

There goes your inheritance fag once that company goes under

>> No.18638652

>>18638614
The credit rating system was invented so the risk of a loan could be assessed. Should these people just never have any access to loans? Why can you make that decision for them?

>> No.18638658
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18638658

>>18638553
>bro just time every 1-8 year pump and pull out every time theres a 1-2 year dump its so easy swingtraders always win :^)

you will notice also most of these stories posted about loses are from impulsive buys. you don't lose money from holding good investments

>> No.18638685

>>18637860
You're a dependent and still got Trump bucks? Tf?

You also need to be 18 to post here
Also 90k potentially isn't enough to support 4 people depending on cost of living where you are

>> No.18638697

>>18634795
3 boats

>> No.18638722

>>18638658
Yield curve inversion is a definite sign of what is going to happen. I literally pulled out of the stock market at large a few months after it inverted, bought gold and gold company stocks and now am laughing. You can walk and chew gum at the same time.

>> No.18638735

>>18638658
So you're saying it's possible to do it right but most people don't? Sweet time to step buy and step sellike a normal successful investor.

>> No.18638741

>>18638497
Oh no negative equity on one property, do you understand cycles fag? If you don’t and think you can only ever buy on troughs and sell peaks you’re destined to be poor

>> No.18638787

>>18634795
>spend entire life saving and living frugally
>dump entire life savings to extend horrible quality end of life by 18 months

Many such cases

>> No.18638790

>>18638741
If valuations are a result of government policy and interest rates how do you know they'll reach the same high again? Are you betting that government policy and interest rates once again are going to be structured to inflate the bubble? That sounds like a big call to me.

Bubbles are easy to identify and avoid.

>> No.18638820

>>18638304
Your dads pretty based anon, raising kids with the desire to make it.
To give him money or not when u make it is up to you. You could be the bigger man or no penny’s for your father up to you. Sounds like he won’t be needing anything though.

>> No.18638879

>>18635972
Full retard

>> No.18639209

>>18634795
Boomers are literally retarded, i remember my dad had 3 million worth of stocks (all in the one penny dreadful) which manged to find an oil reservoir , i told him to sell cause its gonna reach the peak (hype of oil find) and then teeter off. So he holds until the stock collpases under a series of no-finds years and years until the stock is worth 20 grand overall. Then he still cant find fault with this saying you dont lose until you sell and his excuse to not sell when in profit was "but you have to pay heaps of tax". So retarded.

>> No.18639301

My dad inherited an apartment in Manhattan and a summer house in the Hamptons, and he lost it all because he decided to sit at home playing vidya all day instead of working.

>> No.18639325

>>18634795
Parents have large commercial real estate business and holdings.
Decide they hate each other and cheat on each other then spend 5 years divorcing racking up massive lawyers fees.
Lawyer fees get so high and having to split the business they end up with 4 million in debt and unable to pay the banks back for long term mortgages on the properties.
So they lose all of it.

>> No.18639327

>>18634795
how can such retarded people be so wealthy while I'm poor as dirt?

>> No.18639757

my entire family is financially retarded
>parents have middle class jobs
>actually pay off house in 2007
>they went full retard mode and accumulated like 40k worth of credit card debt in 10 years
>they divorce, sell the house, pay off the debt
>they leave with like 50k each in their pockets
>Dad decided to retire at 60 and then RENT a place dipping into his savings
>mom gold digs another guy kek

I keep trying to tell my dad to buy a place. He has 40k left. I'm like please just put 20% down on a small 80k house and youll be set for life. He refuses. He's going to be broke in the next few months and I'm sure as shit not supporting him

>youngest sister
>constantly complaining her car doesn't work
>can only drive it a few miles from home
>i heard her on the phone the other day literally CRYING to our mom she can't afford a car
>she got her tax refund, stimulus, and a few thousand saved
>she's also getting $150 per week from unemployment
>i tell her to put 4k down on a 9k car
>i send her listings of 2014 cars, less than 60k miles, all under 10k
>"anon, i don't want to pay off a car for 5 years. by the time I'm done ill have to get a new car"
>what the fuck, beggars can't be choosers
>she wants a 2017+ car but doesn't work and has a pitiful savings
>she also dropped out of college two years ago and JUST discovered she owes the college 6k
>i asked her why she was unaware she had debt and her response was "i thought they wouldnt charge me because i dropped out quickly" and "mom should have told me"

She's 21, 6k in debt, no car, no credit score and my parents aren't guiding her in any way. I'm sick of this shit

>> No.18639834

>>18639327
Because you're also retarded, retard

>> No.18639843

Why do you faggots care? It's not your money. They can do whatever they fucking want with it.

>> No.18639853

>>18639757
Put 4k down on a 9k car? Buy an old Honda outright for 2k. Wtf are you thinking

>> No.18639880

>>18639327
Because you have never had a job

>> No.18639893

>>18639327
Because you are not only retarded, but also unlucky

>> No.18639895

>>18639757
To be fair, renting isn't automatically a retarded idea. There are many variables and costs that you have to run when you buy a property which you wouldn't need to if you just rent. Besides it is generally cheaper to rent a property worth a certain amount of money than to pay the mortgage. There's also the factor of your father's age, banks will be less likely to loan him money at his age and with his situation (thus leading to worst interest rates).
If he rents a place and invests the remaining of his money he might actually have a higher profit that if he simply buys.

>> No.18639899

>>18639843
Millennials the most entitled group to ever exist believe that every money are belong to them

>> No.18640008

My parents are bad, but I think this one tops everything in the thread:

>Mom's friend has $30,000,000 from family wealth built up over two centuries.
>All in highly leveraged options in January, seriously, ALL IN.
>Stock market goes down
>Loses it ALL
>Only has real estate left.
>But now can't sell at the prices he needs to cover his remaining debt as everyone around him has started slashing prices by 25%-30%.
>Has to sell within the next four months.

His children are giga fucked.

>> No.18640044

>>18640008
<$30,000,000 from family wealth built up over two centuries.
>All in highly leveraged options

Retarded millennials cant even tell a good lie you are so incompetent

>> No.18640238

>>18640044

Whatever, he had options that totally screwed him and he was also leveraged up to his eyeballs in investments, I'm assuming he got his ass handed to him in options and whatever else he was leveraging, I'm new to this board. But he's going to lose it all because he was overleveraged and he broke down and started crying in the recent board meeting when someone asked how he was doing. It's really sad desu.

>> No.18640376

>>18639757
>i tell her to put 4k down on a 9k car
>i send her listings of 2014 cars, less than 60k miles, all under 10k
>"anon, i don't want to pay off a car for 5 years. by the time I'm done ill have to get a new car"

Seems like financial retardation runs in the family You never loan a car on a 5 year plan, you'll end up paying almost double what the car is worth in interest, which is a complete waste of money. You'd be much much smarter to take that 4k, and buy a car outright. You can get a very decent used car for 4k

>> No.18640388
File: 51 KB, 750x593, 1567638369850.jpg [View same] [iqdb] [saucenao] [google] [report]
18640388

>>18634795
parents are divorced
mom inherited $100k and blew it on heroin, turned our house into a heroin den
dad doesn't have to work a day in his life and gets a pension of $3k a month from the military, blows it on motorcycles while paying me $10 to do exhausting jobs that take three hours and that he screams at me if i don't do
dude had numerous opportunities over the years to make hundreds of thousands of dollars, never took any single one of them

i have been trying to piece together for over a decade why both of them are such sad cunts
mom's typically fucked up on methadone and at least holds the facade of being pleasant, but dad especially is such a cunt you can't even talk to him

>> No.18640454

>I tell my parents that it would be a wise decision for them to give me the house eventually so I don't have to take out a mortgage or go into large debt to get a home
>they get offended

>> No.18640515

>>18634795
My parents hired a guy to invest their money, from what I can gather, almost solely because he’s Mormon and seems like a nice guy. I’m too polite to ask my Dad how his stocks are doing at the moment but I imagine it’s not great.

>> No.18640583

>>18637431
>spoilt
>monni
>stonks
>glypto
You sound like a reddit faggot. Cant wait for your brother to carry on the family name, loser.

>> No.18640626
File: 15 KB, 441x411, 1414773672693.jpg [View same] [iqdb] [saucenao] [google] [report]
18640626

>parents never bought house
>spent all the money travelling with me and my brothers as kids
>still rent to this day
I have mixed feelings, I am grateful for all the fun we had, but I can't help but feel it wasn't retarded to find a middle-way, surely they could still afford to travel while owning a house. We will inherit nothing now

>> No.18640634

>>18634795
everyone ITT: people who are surprised taxation exists

>> No.18640656
File: 2.46 MB, 320x320, 1587444481925.gif [View same] [iqdb] [saucenao] [google] [report]
18640656

>>18639301
This is me in 10 years.

>> No.18640683

>>18639301
Yeah, except that’s based as fuck.

>> No.18640847

>>18638552
How much money do need to start a loan shark business?

>> No.18640939

>>18634795
>mom got in debt over stupid stuff when I was a kid
>hid it from my dad
>was $50k before my dad was able to take control of the situation
>my dad would probably be worth over $750k if it weren't for that
>he's frugal and believes in passing on whatever he can to kids so my siblings and I would have got a sizable chunk of that
Moral is keep an eye on your wife/gf and control your family's finances.

>> No.18640956

>>18638292
His financial advisor just watched too much Lego Movie...

>> No.18640978
File: 345 KB, 748x640, 3911D4E0-44E8-4E4D-BE34-7C8C11F442F1.png [View same] [iqdb] [saucenao] [google] [report]
18640978

>>18637625
*Sip*
>”You don’t lose until you sell!”

Pretty fucking based.

>> No.18640980

>>18640939
I learned this the hard way. Never date crazy. They will fuck you up.

>> No.18641001

>>18639301

Why do rich parents not understand that they need to raise their kids properly. They aren't pets to just pamper and leave to their own devices.

If you do it right you get a Bill Gates as a son. If you do it wrong you get this fag.

>> No.18641057

>>18634795
RSUs are a scam anyway, they should have at least automatically sold RSUs and bought the real stock.
Anyway, don't worry TOO much, price will go up again. They were not necessarily wrong not to listen in January, but by Feb they should've done as you said. Even then, hindsight is 20/20. The real problem is
1- Keeping RSUs instead of diversifying
2- Keeping RSUs instead of real stock
Even then, the reason they were holding onto RSUs was probably to avoid capital gains taxes, the stocks they have are worth a theoretical 25% (or whatever your local tax rate is) above what it says.

>> No.18641100

>>18637422
>>Somehow no house or savings
Ever heard of child support? He would need to make 200k++ to save for a house plus pay child support and alimony, let alone have savings. This is literally your fault, though through your mum and not through your own actions.
>Died when I was 20 with an injury settlement left to me worth $23k
100% your fault for not hiring a competent lawyer.

>> No.18641112

>>18635972
wow

>> No.18641138

>>18640980
All women are crazy

>> No.18641145

>>18639757
Sorry bro but the financial retard is you. All your numbers are wrong with regard to the advice you're giving.

>> No.18641243

>>18636963
Underrated

>> No.18641261

>>18640980
My mom isn't crazy. Just not very bright and incompetent at doing many things. A trait that is unbelievably common in most women I've encountered.
Even after the whole debt thing, my parents are still married and have a healthy relationship. They don't really believe in divorce though. Not without unfaithfulness.

>> No.18641273

spoiled richfags ITT. kys all of you.

>> No.18641279

>>18637344
>selling land
you're the retard, buckaroo

>> No.18641287

>>18640238
shit tier larp

>> No.18641319

>>18641261

Aside from obvious biological differences, women aren't valued on being able to do or achieve things and so they don't bother. They live in a bubble.

>> No.18641380

>>18641319
I don't think that's really true. I think the problem is that they aren't EXPECTED to be able to compete, so when they do the slightest thing it's a surprise and everyone is pleased. Because of the lack of challenge, they are limited in their will to improve (combined with inherent biological differences -- most women are simply turned off from competition due to genetics), and thus fall off. It's no surprise that the real women who really can compete at the top tier typically come from more complicated backgrounds, usually involving poverty, bullying and crime, yet simultaneously not having too many family issues.

>> No.18641384

>18638652
Should these people just never have any access to loans? Why can you make that decision for them?

Yes.

>> No.18641430

>>18637628
holy shit so much this. i did the same and was laughed at by people who know me. i even told my boomer neighbor widow to start getting ready for coronavirus back in early february, i told her to go stock up on food and pull her money out of the stock market. she literally rolled her eyes and said in a loud laughing voice "im not worried about coronavirus"

>> No.18641447

>>18637625
there's no reason to rebalance into fixed income and realize a shitload of capital gains when you're sitting on multiple millions

>> No.18641460
File: 633 KB, 651x632, Capture+_2020-04-23-08-23-53.png [View same] [iqdb] [saucenao] [google] [report]
18641460

>>18640956

>> No.18641467

>>18641380

You kind of just reworded/rerationalized what I was saying. "Expectation" is a product of value.

>> No.18641476

>>18640583

This. Dunning Kruger in full effect.

>> No.18641513

>>18634795
my whole life my parents believed and invested in me and I lost everything and became nothing. feels bad man.

>> No.18641569

These actually make me feel good because i hate my boomer bitch grandmother who terrorizes my mom and I and is a prideful idiot. Who has reprobated herself recently. Fuck i want to see her humbled. And these types of events should force these fuckers to respect their young people

>> No.18641599
File: 275 KB, 1200x1920, Screenshot_20200423-091533.png [View same] [iqdb] [saucenao] [google] [report]
18641599

>Be millennial rent seeking Jew, sue your grandmother who had the audacity to expect you to pay your rent, get written out of the will, cry

>> No.18641600

Not wealth but my grandfather worked for Mercedes from 1960 to 1995 and my grandmother worked as an accountant from 1960 to 1995. They were upper middle class and did not build or buy a single thing. Rented their whole lives, voted Social Democrat their whole life and never put anything in stocks. They literally have been living in the same apartment for the last 40 years. They could have just bought it and with the prices of today we would've gotten a nice inheritance in a few years. This financial illiteracy drives me mad every time I visit them.

>> No.18641613

>>18641467
No, it really isn't. A competent woman is, in my experience, at basis valued identically to an equally competent man, but in truth is valued higher due to modern fuckery like quotas and muh equaileggs bullshitery. The problem is that 99.9% of women can't reach the level of the average man (and that's a really, really low bar).
Women ARE valued the same for being able to achieve the same, but since nobody believes they can get there, nobody EXPECTS them to do that. It's not the same as saying that nobody cares if a woman DOES reach this level on account of the fact this isn't the metric they're valued on.

>> No.18641627
File: 34 KB, 600x400, 54651268.jpg [View same] [iqdb] [saucenao] [google] [report]
18641627

>>18641430
>some dumbass zoomer doomer tells you to panic sell and time the market every couple months
>he's right about once per decade

>> No.18641644

>>18637912
I didn't, i had literally no money to my name and was paying off 10k in debts.

>> No.18641699

>>18637625
He's doing fine unless he needs to take stuff out of equities to pay his bills. He should have setup tight stop losses to minmax but that's not even needed in his case.

>> No.18641716

My dad bought a 2016 Corvette in February because I was getting married March. He wanted to impress the family coming to town. Had to cancel my wedding because corona. He has only driven the car twice.

>> No.18641764

>>18640376
I’m another anon but you’re pretty wrong about that interest rate. My car is on a 5 year loan and the interest is less than 4% from my credit union

>> No.18641770

>>18641613

Don't confuse the superficial niceties with the real fundamental feelings and expectations. The men don't "value" the women you're describing because of what they're doing, they value them because they have a vagina. They want their sex, not their labor or abilities.

A woman is expected to look good and be sexually desirable from men, that's just about it. Everything else is just fluff and super abstract courtship.

>> No.18641812

>>18641770
Maybe if you're a broke hillbilly in hillbillyland and what you consider 'what they're doing' to be lifting boxes.

>> No.18641815

>>18640238
>I'm new to this board
Oh believe me, we know

>> No.18641829

>>18641812

What is this even supposed to mean?

>> No.18641843

honestly most of these threads are just, "my mommy didn't buy me crypto she she's dumb"

The dumbest thing my mum did was divorce my now rich dad and then found a truck driver on match.com.

Also another dumb thing is using chunks of money to do stupid shit to her house even thought she has said she wants to downsize, yet they spent money building a new garage, wants a new kitchen even though the current one is still good and can't really be improved

>> No.18641844

>>18641829
A response typical of a hillbilly. I rest my case.

>> No.18641877

>>18641844

>make a retarded retort to a coherent response
>I rest my case

Well, that spares me the labor of having to walk you through indirect concepts at least. Go back to whining about feminists or whatever else.

>> No.18641885

>>18641764
Well depends on what interest rate you got of course. Im not sure how old the sister is, I assume she's young with little to no credit, in which case, the interest would be significantly higher than 4%.

>> No.18641933

>>18641877
I accept your surrender. You're now free to go fuck your goat.

>> No.18641960

the worst was how my parents made too much for me to get student loans so I couldn't go anywhere good and had to go to a shitty local school and I ended up as a total fucking loser and they compare me to people I knew whose parents paid tuition and rent in cities with actual job prospects and respectable schools.

>> No.18642006

>>18641960
Nothing dumber in the world than a college graduate

>> No.18642024

I told my dad on monday march 16th at 6am to liquidate some family IRAs and be in Cash, SDOW, gold and silver mining stocks, and physical PM. He laughed and said its just the flu and it will go back up next week. Called me yesterday and said cash is dead, and that the funds he manages for the family had lost close to half a million dollars.....

>> No.18642037

>>18634795
They've been through this before. They'll get it all back in the next 2 years.

>> No.18642053

>>18640238
you sound like a 14yo that just learned what "leverage" is

>> No.18642095

>>18641430
Your boomer neighbor is right, retard. All this loss is from government interference no one expected, not gayrona virus

>> No.18642110
File: 1.86 MB, 346x244, putinlaugh.gif [View same] [iqdb] [saucenao] [google] [report]
18642110

>>18635972

>> No.18642134

>>18634795
Yea my dad and grandpa bought a 1.2 million dollar log cabin in 06-07 thinking it was an investment they could rent out. They sold in 2010ish for like 700k. Pathetic.

>> No.18642169

>>18642053
Not going all in on overleveraged options to lever up your put)call leverage to doubleniggerfaggot leveraging backtraced pulley and lever syndrome linkchain bitsvcoin ngmi

>> No.18642229

>>18635074
base-t

>> No.18642237

>>18641057
Sorry but what’s wrong with RSUs?

>> No.18642275

>>18639853
because she's a retard that likes to drive around with her friends getting high. if she gets a 2k clunker its going to shit out after a few months
>>18639895
he's not going to invest in anything. the best thing he can do for himself is to lockin a house right now. something permanent. he has enough passive income that a bank will definitely give him an 80k loan with 20% down.
>>18640376
i never told her to do a 5 year plan. I told her to do a 3 year plan. she can't afford a car payment thats more than $300 a month. that's what poverty leads to, more poverty. ofc if she could buy a nice car outright she should, but she can't afford it
>>18641145
my dad will be broke within a year. his passive income isn't enough to afford rent in our area. he gets $1400 a month. he would have to find a rent that is 1k, and there aren't that many in our area. plus what the fuck else is he going to do? rent for 15 years? it's a waste of money. he shouldn't force himself to live paycheck to paycheck in his golden years

>> No.18642276

My mother has been a worthless NEET for most of her life so she's never had money to be retarded with but my grandmother gets me more upset.

>Baby boomer that lived in the easiest most prosperous time in modern history
>Has absolutely nothing to show for it
>Other boomers were getting good jobs and buying houses when she was screwing around working waitress jobs for a few weeks and quitting
>Had three kids and proceeded to live in squalor, dirt floors and outhouses
>Currently rents a room and has nothing to her name but an overweight chihuahua, a beat up 20 year old cadillac, and a bunch of useless chinese crap she buys online
>Her bank account reads -$4 at the moment and she has no savings
>All she does is lie in her bed spending all of the money from my grandfather's pension on stupid chinese crap

It wouldn't be so bad if she wasn't always having to borrow money

>> No.18642291
File: 66 KB, 300x300, 1547912296194.jpg [View same] [iqdb] [saucenao] [google] [report]
18642291

>>18637431
LARPing richfaggot

>> No.18642294

>>18638685
nope not dependent just at home not at Uni currently. our house value is under 90k if that gives you a idea of the area. all though it was bought at 110k 26 years ago and the 90k was good enough when we were kids but now in there old age are spending money like its nothing and not realizing it. just consuming.

>> No.18642300

>>18639757
Start pimping her out to your friends and people on the Internet

>> No.18642318
File: 30 KB, 515x644, 1542319970814.jpg [View same] [iqdb] [saucenao] [google] [report]
18642318

>>18637625
>"You don't lose until you sell!"

>> No.18642444

>>18638685
You're right on all points but the 90k one. That is plenty for anyone in a family of four. Then again change cost of living to your wife's spending and you're right

>> No.18642510

>>18639757
>t on each other then spend 5 years divorcing racking up massive lawyers fees.
>Lawyer fees get so high and having to sp

It's pretty retarded to go in debt for a car, paying interests on something that depreciates. Just buy a 2k car in cash

>> No.18642521

>>18641933
what?

>> No.18642556

>>18642237
They have the same price as normal stocks but none of the other implications (no dividends, no voting power, etc.)

>> No.18642585
File: 25 KB, 463x492, 1582826876299.jpg [View same] [iqdb] [saucenao] [google] [report]
18642585

>>18634795
>>18635074
>>18637431
>>18637625
>>18638304
>>18638498
>>18638552
WHY ARE THERE SO MANY RICHFAGGOTS ON /BIZ/ OMG I AM A SHITTY EUROPOOR WHILE YOU HAVE FAMILY WORTH MILLIONS

>> No.18642593

>>18642275
>his passive income isn't enough to afford rent in our area.
Then he would never be able to get a mortgage even at an insane interest, and you are clinically retarded to think buying when you can't even afford rent is in any way, shape or form even possible. There are most likely no houses anywhere near the pricepoint you think exist in your area either, except maybe in the middle of nigger ghettos. Not to mention you haven't even considered maintenance and repair costs on a house that cheap which will probably be 50k+ before it's even habitable, plus the appropriate taxes.

>> No.18642621

>>18642521
Oops, you fuck sister, not your goats. Sometimes I forget that different animals do for a living. They're all the same to me after all.

>> No.18642643

>>18634795
Especially retarded when you see these people that only buy stocks in the company they work for, because the company matches how much they put in. They end up with like a million in stock and its their only investment.

Then the company goes bankrupt and they lose their job as well as all their money kek

>> No.18642652

In the mid 90s my parents were a few mortgage payments away from owning their house outright. My dad decided to take out a second mortgage to gamble in the stock market. Obviously things didn’t work out and they declared bankruptcy and we moved to a different town. That house was worth just under $100k in the 90s and is now worth close to $700k.

>> No.18642664

>>18638346
Just move to a country with social security

>> No.18642694
File: 61 KB, 1228x1502, wofat.png [View same] [iqdb] [saucenao] [google] [report]
18642694

>>18642593
alright let me paint a broader picture
>he has 40k in the bank
>he gets $1400 a month pension
>in a few months time he get's another 30k or so from some property he sold

So in about 6 months time he will have 60k or so in the bank with an income of $1400 a month. There's no reason he shouldn't be able to buy a cheap house. there are plenty in our area that sell in the 70k-90k range.

I already told him I would buy him his appliances and furniture, but he won't listen. he's a fucking retard that would rather squander $1500 a month on rent when he has the opportunity to actually own a house or condo

he's going to go broke in the next 2-3 years, 4 if he's lucky, and I don't want to pick up the pieces. he's terrible with money anon

>> No.18642747

>>18642694
I feel really sorry for your dad, it must have been excruciatingly hard to raise a sub-0 IQ moron of a son for so long.

>> No.18642778

>>18642747
when he's broke in 4 years, living paycheck to paycheck, barely affording rent, I'll remember your words and smile as I'm making my last mortgage payment.

fuck you and fuck renters.

>> No.18642818

>>18642275
>if she gets a 2k clunker its going to shit out after a few months
You are literally fucking retarded.

>> No.18642825

>>18642778
>as I'm making my last mortgage payment.
Larp
> fuck you and fuck renters.
See that’s how I know it’s a larp, anyone who is somewhat financially literate knows renting isn’t always the wrong choice

>> No.18642829

>>18642778
You'll be broke long before he is if your posts are any indication of your understanding of the most basic economic principles or of your mathematical acumen.

>> No.18642852

Not my parents but a family member. My great grandfather owned massive amounts of land and was a farmer He sold most of the land to other companies.

The land now is one of the high end real estate districts in that city. I think even the mayor of that city lives in that suburb. My great grandfather uses to own that entire suburb.

>> No.18642870
File: 47 KB, 600x600, american pepe smug.jpg [View same] [iqdb] [saucenao] [google] [report]
18642870

>>18642829
lol go to bed pajeet.
>>18642825
if you rent over the age of 30 you're poor. sorry anon. everyone has to start somewhere so I understand why young people rent. But lets be honest, if you can't afford to save a down payment by the time your 30 your just poormode. renting in the ultimate form financial illiteracy

>> No.18642891
File: 29 KB, 624x681, Capture - Copy.jpg [View same] [iqdb] [saucenao] [google] [report]
18642891

>>18637625
I am one of those idiots like your dad.

>Have like $1.9mm in equities mainly (80/20 bonds).
>Convinced that Coronachan is going to fuck everything up but never get around to liquidating positions because I was working like mad and kind of wish-thinking it away.
>regret.jpeg
>Lost $600k at peak losses. Like in a week.
>Still didn't sell because my job is very secure and I have signed contracts for my services for the next 2 years guaranteed by cash rich companies (Salesforce)

Yeah, if I knew then what I know now blah blah blah I'd be worth $10m.

I just remember reading the very detailed Fidelity study on who were the best amateur traders and investors over a 15 year period based on actual data, and they were almost ALL dead people or inactive accounts. I've really taken it to heart.

Never forget that procrastination and inattention are still some of the best skills in an investors toolbox!

>> No.18642897

>>18642852
Hindsight 2020 anon. Do you know the circumstances he was in when he sold? At the time it was very common for large companies to "force" people to sell these lands, so he might not even have had a real choice. Even if he had, how could he know it would become so valuable? In his days land wasn't worth that much.

>> No.18642918

>>18642585
Two kinds of people visit biz:
> Those with money to burn
> Those with little money throwing everything they have at life

>> No.18642923

>>18634795
my uncle lost 300k on nortel, any boomer leaf bros remember that one?

>> No.18643199

>>18634795
>dad has like 100k in the bank
>I have been a NuLink autist for 6 months
>Show my dad the coronadump
>"It's at December prices again, when the economy recovers, your savings will almost double!"
>"No, fuck your fake money, I wish my son knew how to throw a football."
Yesterday:
>"Hey son, so I was thinking, what if I lent you 10k to put in the stock market, and then you can pay me back when money is doubled."
>Chainlink is stable, btc is as high as it is going to get, I can afford maybe 3 bluechip stocks for the LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOONGGGGGGGGGGGGGGGGGGGGG game
There goes my animal crossing nintendo switch I guess.

>> No.18643291
File: 152 KB, 730x1200, 944C6916-7C8E-4BF2-957C-5649ACCEBA00.jpg [View same] [iqdb] [saucenao] [google] [report]
18643291

>>18634795
They were one of those people who took out huge loans to build multiple houses and apartment complexes in 2006/2007 that didn’t end up selling.

>> No.18643465

>>18634795
>mom spends 17 years completing an undergrad degree
>divorces my dad and sells the house they bought a few ago at a loss
>takes the kids and moves into a shitty apartment
>goes back to school to get a fucking masters in education
>finishes it about the same time I get my masters
>takes out more loans to get another meme education degree
>ends up dropping out in the middle of it because she has neither the time nor money to continue
>still working the same 30k a year public education job that she's had for 15 years now
>virtually no savings and lives in an apartment, despite being 10 years away from retirement
My dad is considerably better off despite being a blue collar worker his whole life.

>> No.18643495

>>18642918
So there are two types of posters
>Stonk posters
>Shitcoin poster

>> No.18643549

>>18642891
How the fuck do posters have so much money. I assume everyone here is under 35

>> No.18643573

>>18642593
Hey bro, cool it with the racist language

>> No.18643650
File: 164 KB, 749x978, slavedog.jpg [View same] [iqdb] [saucenao] [google] [report]
18643650

>>18643573
shutup faggot

>> No.18643812

Where to start.
>Grandpa
Was a millionaire at one point but left my grandma nearly broke after losing hundreds of thousands in Vegas.
>Mom
Has literally no financial common sense, doesn't work yet complains about being broke and is a shopping addict who racks up tons of CC debt for my stepdad to pay off.
>Dad
Underachiever who never really cared about investing but is sitting on a decent sized property probably worth around $300k, which he bought for $80k.
>Me
Addicted to buying shitcoins.

>> No.18643840

>>18637860
>Still Living with Parents
>Parents need to get rid of unnecessary expenses

Anon, I...

>> No.18643962

>>18634795
Grandparents gave me parents two houses when they died.
Parents immedietly sold them and when on expensive holidays.
I'm stuggling buy a house and get no help from parents.

Still annoyed about that desu.

GFs mom did the same when her dad died, sold the massive mansion they were living it cuase the mom couldn't be bother to find a repair man.

>> No.18644113

>>18634795
dad owns 2 funds from german allianz. he put most of his money in them from 2000 to 20015, basically the best time to buy stocks. He's very happy now that the money he put into the fund was around 15% growth. This was in January, he did not sell, now he is still 13% down. I looked into his funds, he pays 1,5% per pay-in, a yearly fee of 2% and in addition a withdrawal fee of 1,5% when he wants his money out. wtf

>> No.18644131

>>18642275
Look at the average car payment today plus the full coverage insurance your required to have while paying it of. The biggest piece of shit in the world doesn’t cost that much to drive and maintain. Used cars are based.

>> No.18644151

>>18643812
Circle of life

>> No.18644226

>>18643840
I'm only here during the virus I was at uni at a apartment I rented by myself but since they closed the school to everyone I came home plus its helps my dad since my mom doesn't do shit around the house but buy things.

>> No.18644282

>>18639757
dude you can buy like a 2010 civic or sentra for like 5 grand that will easily last another 5 years and she can always sell it for most of her money back in a year or 2 when she wants to upgrade after she has money

>> No.18644293

>>18642444
they live by them self's 80% of the year for the last 6 years

>> No.18644439

>>18639895
i can't hear that anymore. paying a landlord is the first thing you need to avoid to gain networth. all other investments are attached with higher risks and can of course turn out to be more profitable than rent savings, but those are low risk and low hanging fruits.

>> No.18644460

>>18639843
Gee, imagine if greatest gen said that, boomers wouldn't have a pot to piss in.

>> No.18644577

>>18644113
Sounds like my dad's brain.
Me: just put it in mutual fund
Him: wow crazy that's what my financial advisor did for me
(For a % cut plus ongoing account fees)

>> No.18644651

>>18644439
Only works if banks are willing to give you a mortgage in the first place. If you're low income, you can propose a 150% downpayment and they still aren't going to say yes.

>> No.18644663

>grandparents are pretty rich, dont know their exact networth though
>invested heavily in mutual funds before the 2008 crash/recession
>lost 30% of their networth
>now they're both convinced every mutual fund is a scam and that the stock market is somehow also a scam by association

at least there's going to be money left in the inheritance, and it kind of makes sense that they wouldnt want to do risky investments at this stage in their life, but just because you went all in on some random mutual fund and lost (not even everything, just 30%), doesn't mean every single investment is a scam

>> No.18644668

>Dad catches a silver bug in the early eighties >and buys six Morgan Dollars at $200 a piece. >I spend my paper route money on a used 1979 >Supergoose and LEGO space sets which all >increase in value over time. Morgan dollars >hardly move.

MFW as a kid I made better investments then him

>> No.18644702
File: 10 KB, 251x242, 32f.jpg [View same] [iqdb] [saucenao] [google] [report]
18644702

>>18634992

>> No.18644870

How does old money do it? Why does the layman squander wealth in a single generation?

>> No.18644928

>>18637860
They're giving you a great education
>>18634795
My in-laws
>Always bought new cars and sold them after 2-5 years
>Didn't help their kids with college costs
>MIL worked at a govt call center for 5 years to get gibs
>Retire ... naturally buy brand new cars
>Buy big retirement house in glamorous neighborhood
>Never leave the house except to eat out 3x a day
>Give my wife shit for us not buying $40,000 cars
>Didn't see the bubble
>Somehow was aggressively leveraged and lose 30% of their retirement this year
>FIL got the corona flu and has been in the hospital for the past 2 months
This week
>Doctor wants to rule out stroke
>MIL calls in shambles, saying they don't have long term insurance and they need to sell the house and bankrupsy is likely.
She's overly dramatic , and I'd wager he's fine, but fuck them. My car might be 15 years old, but it, and my house, is paid off and I'm saving for my kids' college.
The worst part is he ordered steaks well done.

>> No.18644943

>catholic school
>community college
years later they run down dirty jersey and stuck in living space with their meth head kid

>> No.18644954

>>18634795
flip positions here

You don't do any research or investing, and your kid tells you to sell your stocks, when leaving them alone has made you very wealthy. Why should you believe him?

>> No.18644972

>>18644663
Well, there are certainly some qualities of mutual funds that are scams. Go to your bank and tell them about your plans to save and they'll say the safest way is to invest with their mutual fund because they'll manage the money for you and make sure you get the most out of your money. That's a complete lie, though, they're not allowed to properly protect against risk, to reverse positions, to get out of stocks and into cash, etc., etc. In practice, just buy and hold spy and you're going to outperform every single mutual fund out there at all times, so even beside the false semblance of risk protection they sell to clients, they also lie about their theoretical competence. They additionally pocket a relatively large premium for the privilege of letting you invest in crap quality funds.

>> No.18645011

>>18637860
Who the fuck subscribes to print news in this age? What the hell was the iPad for?

>> No.18645035

>>18644928
If they lost 30% they were completely unleveraged anon.

>> No.18645229

>>18645011
to clip coupons of all things.

>> No.18645262

>>18644651
indeed, if you're really low income, there's not much chance to buy real estate on fair conditions. However than saving and renting something really affordable are prio. To own the house / condo you live in is basically the lowest risk form of investment and should always be the starting point. You get the saved rent at a 0% risk. There's a big lobby out there trying to make renting look as an especially intelligent financial decision. I don't know how many times i've read how intelligent it is to pay your landlord and put the rest in long term in ETFs

>> No.18645306

>>18641716
A shitty used c7 vette isn't going impress anyone. Now if he had a c8...

>> No.18645348

>>18644131
True. New cars cost an insane premium. And should it be important to someone: Few people actually realize that a car is new and not a few years old.

>> No.18645358

>>18645262
Yeah, I've read the same and I was extremely puzzled by who could possibly be behind this.

>> No.18645439

>>18645262
All the hype about how much of a persons paycheck goes to rent but none about how much goes to gubment. Take a good look at your paycheck stub and compare what you earn to what you actually get.

>> No.18645449
File: 5 KB, 250x248, 1586910043460s.jpg [View same] [iqdb] [saucenao] [google] [report]
18645449

Grandfather wanted to build dream home himself
Adopted me along the way, cheap labor
Spent 400K+ building McMansion inna woods
Can't finish interior due to loans and cash dried up
Live in unfinished house for 7 years while he struggles to make mortgage notes then his company goes bankrupt and he defaults on all of it and we are forced into a single wide mobile home where he dies

>> No.18645459

>>18645348
New cars all look the same these days anyway. Buy used and save.

>> No.18645510

>>18638346
Didn't you post this in some other thread and some guy reached out to you? Or is this a copypasta?

>> No.18645542
File: 153 KB, 2050x1080, 1574053263019.jpg [View same] [iqdb] [saucenao] [google] [report]
18645542

>Mom came from an abusive trailer park family
>Dad came from fairly well off family but has 7 boomer siblings
>His inheritance split between 7 boomers who were retarded enough to sell the bottom of the real estate crash a few years ago
>All of his inheritance went to new shit, new cars, new camera gear, pissed away basically
>he is now over $80K in debt

funny enough my mom is the hardest working and highest earning person in my family, she clears almost 100k/y and almost has her house paid off while my dad is living in the living room of said house. What the fuck is this feel I'm feeling bros I don't even know anymore

im all in on link btw pee pee poo poo poopypee

>> No.18645558

>ask my dad for gas $ in highschool
>he says no
>never ask him for another penny

I'd do the same to my son

>> No.18645572

>>18645439
and this is in what way relevant for what i wrote in my post?

>> No.18645573

>>18645439
Most people don't pay income tax in fact many pay a negative 20% rate if you have kids

>> No.18645600

>>18634795
They know to hold.

>> No.18645652

>>18634795
How do people so wealthy make such bad decisions?

>> No.18645659

>>18637344
Youre the retardo bucko.

>> No.18645665

My dad offered to send me some cash in case I needed it. I've been unemployed for about 18 months so I guess he's worried about me. I still have some cash as well as six figures worth of Link but haven't told anyone about it. No way I could accept the money, he probably needs it more than I do :(

>> No.18645702
File: 49 KB, 709x338, Screenshot from 2020-04-23 14-49-02.png [View same] [iqdb] [saucenao] [google] [report]
18645702

>>18645035
>Leveraged investing is a technique that seeks higher investment profits by using borrowed money. These profits come from the difference between the investment returns on the borrowed capital and the cost of the associated interest. Leveraged investing exposes an investor to higher risk.

I believe it's aggressively leveraged, especially for their age. They should have been in a much less risky position - like their asshole son in law who sat in bonds since November and bought the dip (albeit not perfectly)

>> No.18645706

>>18645652
How do poor people stay poor when rich people are allegedly stupid

>> No.18645775

>>18641599
You're retarded

>> No.18645789

>>18645702
I don't know what you're doing on /biz/ when you clearly don't know even the most basic concepts anon.

>> No.18645818

>>18634795
>parents own their house outright by the time they are thirty
>during hard times they open up a heloc and spend ALL OF THE EQUITY instead of changing their spending habits
>repeat three times throughout my life
>still owe more than their house is worth over 30 years later
They had it made, all they had to do was not fuck up. I will throw away all the consumer trinkets and bad art that they'll leave for me because it's all clearly cursed

>> No.18645899

>>18645706
Because the safest investments are only available with massive starting capital, and no matter how stupid someone is, if they're in a 99.999% chance 100% yoy return investment, they're not losing that money.
Meanwhile if you don't have millions to put in investments, you'll have to mostly gamble.
Not to mention that if you have 1b to your name, you will never have a problem living off treasury bond interests alone, whereas someone with $100k to their name needs to daytrade and be top 99.99% investors to make a livable wage off it.
Additionally, when you have infinite money, you can piss 90% of it to the wind and still survive your entire lifetime on the rest. Meanwhile, if a poor person forgets to pay their credit card for a month, the interest might fuck them up for the rest of time as they already live paycheck to paycheck and the additional charge might go just beyond their ability to pay.
The last part is that even when a rich person loses everything, they lose it to a group of people rather than to a single person. Thus, if a rich person loses $1m, they are down 0.1% while 10000 people are up a few quids after commission, taxes, etc.
There is no 'smart investing' as a poor person because no capital, there is no 'dumb investing' as a rich person because all investments at your income level are infinite free profit. But, instead of investing, rich people can decide to waste the money. When that happens, too many people get the scraps so that no single person profits enough to change their fate.

>> No.18646047

>>18642852
How do you know that the companies would have accepted renting the land, or that they weren't the ones responsible for skyrocketing the value of the land in the first place?

>> No.18646523

>>18642778
He based

>> No.18646534
File: 43 KB, 584x507, germany3.png [View same] [iqdb] [saucenao] [google] [report]
18646534

I don't have any, but my father is the anti-neet, decent job and he lives in a small apartment in a poor neighbourhood and spends very little, car produced in 2003, he's 60 and could retire already easily he's got so much money, but he says that becoming pensioner is almost the same as being dead, I doubt he'll ever spend a cent on any luxury he hasn't be on vacation abroad in years
I dont know why he's saving all the time he knows I'm too asburger to start a family so there's no point giving it to me

>> No.18646633

>>18637344
Kys. Land better than bongbucks. I bet ya cuck governent would take half your birthright away as income tax or some equally official sounding way to make part of your property in another part of the world theirs. Hopefully you have a brother.

>> No.18646635

>>18641644
I cant understand why they wouldnt take your financial advice

>> No.18646637

>>18645899
I don't even know the point of investing in anything else other than extremely safe things when you're wealthy. Especially when you're in the tens of millions range. Just buy your necessities outright, and live and enjoy the rest of your life with raising a family (and dig a hole and put a few bricks of gold in there incase your wife divorce rapes you). Maybe start a 2 million charity in your name that earns its money from a high interest account that can be used to give to pro-patriot movements.

>> No.18646820

Just like a few of in the thread
>Father grew up poor
>Ended up being lucky owning very lucrative business.
>Invests in early in stocks and SoCal Real Estate
>Now 65
>Has the guts to tell me directly that I will not see a dime in inheritance
>Spends lavishly on trips to Dubai, Maldives, etc. about 5 times per year
>Says crypto is a scam.
>Suggested I buy Real Estate when I made $45k. Or start my own company.
>Recently got kidney stones from drinking Diet Barqs twice a day instead of water.

>> No.18646861

>>18635074
I used to do that with my breath when I was little. Now I'm a degenerate pot smoker, go figure

>> No.18646905

>>18646820
i guess this is pretty smart with money. so this is just a typical boomer story.

>> No.18646922

>>18641960
You woulda been a fuck up either way if you couldnt handle a easy local school.

>> No.18646973

>>18637344
cringe post

>> No.18647135

>>18646637
>high interest account that can be used to give to pro-patriot movements.
Holy shit you're retarded.

>> No.18647328

>>18645899
>safest investments
Would you consider an S&P 500 fund to fit this category?

>> No.18647404

>>18647328
No, it can go down more than 5% sometimes during your lifetime.

>> No.18647447

>>18647404
What about municipal bonds then? If a collection of 500 bluechip companies that do business worldwide isn't safe, what is?

>> No.18647488

>>18637612
Plebs hate what they do not understand.

>> No.18647501

>>18635972
AHAHAHAHA based retarded parents

>> No.18647515

>>18647447
Doesn't even keep up with inflation anymore, what's the point? But they were probably good 40 years ago. Still a garbage-class investment vehicle if you have money.

>> No.18647536

>>18647515
What would you suggest then?

>> No.18647612

>>18645652
Because their good decisions outweigh the bad ones.

>> No.18647618

>>18647515
>Doesn't even keep up with inflation anymore, what's the point?
Pardon my ignorance...but doesn't this also apply to treasury bonds as well?

>> No.18647676
File: 216 KB, 2527x1440, boomer.jpg [View same] [iqdb] [saucenao] [google] [report]
18647676

>>18646820
Based

>> No.18647698

>>18637462
dad get off of my 4chan

>> No.18647717

>>18647618
All modern bonds are useless except junk bonds, but junk bonds are low payout and high risk.
>>18647536
Rental property. Any potential loss of value immediately made up by rental payments since, being rich, you're not leveraged, you get literal free gains even if you were to buy right at the top before corona-chan started (many real estate markets haven't lost a dime in over 40 years, including during corona, because of criminal involvement of multiple parties). Art is great, too. Hold on to literal shit in a box you bought for $5000, it's worth $50m before you can say "it's shit". Never depreciates in value either. VC investing is also a free money printer if your winrate is more than 10% (depending on industry you may only need a 1% winrate to break even). In practice, VC winrate is 30% at the low-end, so always impossibly profitable.

>> No.18647766

>>18634992
You sound like the average /r/latestagecapitalism retard. That’s devastating. That will severely impact the timing and quality of their retirement.

>> No.18647782

>>18645449

That's rough, anon. Thanks for sharing.

>> No.18647901

>>18634795
you could probably get a bj from your mom for like $12.

>> No.18647902

>>18647766
lol'd hard. This is what silver spoontards believe.

>> No.18647926

>>18634795
boomers are the biggest HODLers around. at least my parents are HODLing a diverse portfolio though. they would never think to "sell the top".

>> No.18647935

>>18635972
jesus

>> No.18647948

>>18647717
>Rental property.
If one doesn't want to deal with tenants or just would rather avoid real estate, would you say a low fund S&P index is a decent alternative?

>> No.18648053

>>18647948
I have no clue why you keep going back to muh s&p500. s&p500 is great for a boomer longer with little income, it's crap otherwise. You never deal with tenants if you buy rental property because you'll hire a concierge (you will literally not pay him, but rather give him a free apartment - that's the usual deal, so long as he works (for free) he gets to live there).
If you want to avoid RE, you go art. You hire an artfag and let him do his thing with your money. His job consists of spotting winners and propping them up to artificially increase their value.

>> No.18648116

>>18648053
>I have no clue why you keep going back to muh s&p500
Compounded 7-10% annual interest along with a 2% dividend is very appealing don't you think? Not to mention the dividends are qualified and investing in 500 bluechip companies that do business worldwide is as passive and idiot proof as one can get. If an anon gets a windfall of around 10 million, the dividends around would be 200k usd a year at a qualified tax rate, not to mention the compounded 7-10% gains. In addition, if it drops like it did when covid hit, one can simply buy more shares during the fire sale.

>> No.18648137

>>18648116
I don't know what you're doing on /biz/ since you're clearly very new to everything.

>> No.18648152

>>18648053
>rental property
What kind of properties would you suggest? Duplex? Single family home? Multi-unit apartment?

>> No.18648163

>>18634795
You retard, the economy has always rebounded.

You act like they lost something permanently.

They will just play the long game and in 10 yeas it'll be worth double what it was in January....

They are not being retarded with wealth, panic selling is being retarded with wealth. Right now is the time to buy and hold.

No wonder you have no say in their decision making..... if they dont need money now, then who cares? Let them hold.

>> No.18648170

>>18648137
>I don't know what you're doing on /biz/ since you're clearly very new to everything.
Is anything I said wrong? I am trying to learn as much as I can!

>> No.18648186

>>18648152
Multi-unit apartments are by far the most profitable and the least taken to depreciation. In my opinion they're the best from an investment perspective. For speculation, single family homes are the best. Duplex are somewhere in between, they generate more money passively but usually don't appreciate as well as correctly chosen family homes.

>> No.18648213

>>18646820
Thats viciously typical.

I just wish people that had the goof fortune to be in the right time at the right place were humble, they'd get a LOT more respect.

If I won the lottery I would not go around talking down to people.

Some of it was his own doing, but being in the right place at the right time was mostly what built his wealth.

>> No.18648226

>>18648186
Would you say that someone living in Southern California should still invest in real estate? The initial capital required is insane!

>> No.18648278
File: 2.53 MB, 450x312, 1582069605391.gif [View same] [iqdb] [saucenao] [google] [report]
18648278

>>18634795

This thread is too painful.

See >>18634830

>> No.18648283

>>18648226
The returns are shit too.

>> No.18648287

>>18648170
If you cared about dividend returns you could easily do 3-4x better by choosing high-yield stocks, or even ETFs. They'd appreciate at about the same rate as s&p500 except they'd net a whole order of magnitude more in dividends before you know it. If you cared about appreciation of stocks, you would pick a few good value stock instead of the whole s&p500 basket and enjoy 10x appreciation in the time s&p500 gets 2x. In either case you're still doing a lot worse from a wealth-building perspective (which is the only perspective that matters since you clearly don't need income) than in any other high-end investment vehicles around, and you'd still effectively be gambling even though the infinite-time risk rate is 0%.

>>18648226
> The initial capital required is insane!
That's why I said it's a high-end investment vehicle. Real estate is crap if you're not rich. Additionally, you often want to diversify with RE (which means buying RE in various countries and with various tenant disposition instead of buying only locally).

>> No.18648296

>>18648226
Dude I know people that dont even have a credit card to be able to buy a nintendo switch to resell for $500.....

The old saying of "You gotta have money to make money is so true".

If we all started out with a "small loan" of a million dollars, you'd see the wheat separated from the chaff right quick!

>> No.18648305

>>18647717
>Rental property.
This guy knows

>> No.18648354

>>18648287
>pick a few good value stock
This is very risky is it not? The S&P is a diversified basket of bluechip companies...the picking is done for you.

>> No.18648382
File: 134 KB, 1024x680, 1563323904043.jpg [View same] [iqdb] [saucenao] [google] [report]
18648382

My dad is very strange about his investments. So far as I have been able to gather, the less reputable the opportunity the more trust he has in it. Stock market? Won't touch it. Doesn't trust it. Amway? He did that for a while. Some kind of OTC supplement selling pyramid scheme? Went pretty hard on that for a few years. Selling water filters on 100% commission basis? Absolutely. The biggest and final mistake was a 25k investment in some guy who told my dad he had a water purifier thing he was going to sell to Africa or something. It was a scam. Dad lost money on every one of these things. And that's just the stuff I know about. The man has declared bankruptcy at least three times.

>> No.18648445
File: 62 KB, 3840x2160, 1563324597644.png [View same] [iqdb] [saucenao] [google] [report]
18648445

>>18648382
Oh! I forgot to mention the church situation. See the 'da is/was a christian fundamentalist. He was still kicking in 15% every month to the fucking church while our family was on welfare.

>> No.18648487

>>18648354
It's not. S&P is more risky than 10 good picks. You can easily rebalance said 10 picks in many ways, such as literally picking the 10 biggest holdings of a s&p500-tracking ETF every year. It returns more every time and doesn't lose as much because you have better control.

>> No.18648586

>>18641273
>seething leftyfag
lol dilate

>> No.18648597

>>18648445
He deserves a better son

>> No.18648639

>Held a bunch of Boeing stock through all this.

>> No.18648661

>mummy refuses to sign over one of her four houses

fuck you the government are going to take everything

>> No.18648693

>>18644870
Regression towards the mean. Kids of smart people tend to be very average.

>> No.18648713

>>18645449
That's sad. Poor dude.

>> No.18648720

>>18638346
Perhaps if you weren't a crybaby faggot you might have some friends and family to help you out.

>> No.18648761

>>18645449
at least he got to live in a mansion for some of his life. more than most people can say. some people are in mobile homes their entire lives

be happy with what you had

>> No.18648791

>dad makes like 120K per year
>I've told him that he could buy a house and stop living in a shitty apartment
>He refuses to listen and prefer to live in a shitty apartment paying like 1K per month

>> No.18648839

>>18648791
Forgot to mention that he refused to pay for my brother's college because it was too expensive, even tho he had to pay like 13K per semester

>> No.18648936

Bump

>> No.18648978

>Dad pays for my 4 year degree out of state
>Over 100k
>It's in criminal justice
Appreciate it dad, I really do. Just wish I understood what makes a school worthwhile and what makes a major worthwhile. I made out just fine, but always felt like dad got scammed doing that for me

>> No.18649022

>Parents spend 210k renovating just the living room of their 250k house.
>Living room literally looks worse then it did before and created several water related problems
>They spend most of their time in the basement watching tv

Of course most of their wealth is inherited


>>18648791
Why the fuck do you care so much? If he like his apartment why the fuck should he leave?

>> No.18649038

>parents live in an $8 million house in manhattan beach
>they get stimulus checks
>i live in a piece of shit condo in the ghetto
>i don’t get stimulus check
Fuck boomers

>> No.18649255

>>18641960
Boo fucking hoo

>> No.18649334

>>18642652
JUST

>> No.18649371

>dad and uncle fly me and themselves out to SEAsia for an all inclusive time with the boys
>pays for what he believes is my first time having sex
>weekend of debauchery and degeneration
>come back home
>weeks later herpes sores pop up all over my face and junk
>dad feels terrible
>but literally tells me
>hey at least everyone will know youre not a virging anymore
>uncle hangs head down in shame

>because yeah
>my uncle fucked me when i was 10 and since 10.5 years of age ive had genital herpes but now i got oral getos because the faggot drunkenly convinced me to suck him off one last time for ol times sake after we eiffel towered phonemaly full force in his tight little brown boipusy and mouth

>> No.18649431

>>18649371
>for ol times sake
looks like you're the faggot

>> No.18649446

>>18645449
Damn, that’s rough man

>> No.18649467

>>18649431
fuck you faggot
ill fuck you until
you love me faggot

get hard again reading that u fucking bitch faggot

>> No.18649629

My folks, I was lucky, are literally the opposite. The best people with money I have yet to meet. I want to follow their example with everything they ever did with money. They were both doctors but me and my sister always grew up with the impression that we were "poor." Later to find out the truth once they were buying new houses and properties with all the money they saved.

>> No.18649661

>>18634795
I have so many of these stories. Told dad to buy Apple stock at ~$10-20/share. He bought Telstra (Australia telco instead) bought at $5-$7/share, valued at $3.02/share now. Apple is $275.03 and that's after splits etc. Told my millionaire uncle to buy Facebook pre-IPO through Goldman Sachs ($1 mill US buy in) He said no. Another lost fortune, was in a basement telling a dude about Occulus Rift and how they'd be billionaires soon, google it to show him the same day they announced FB buy out. I'm a freaking Tech stock oracle but had no skin in the game. Finally got some inheritance money. Immediately sense the markets are fucked. Dumped it into Gold/Silver. And Hodling, bought 12 months ago already doubled my money, expecting explosive growth in the next few months as financial crisis rolls on through. Parents bought into housing bubble with dad's inheritance, probably going to lose millions.Time for millennials to take the wealth through the markets. The world the Boomers knew is gone. It's time to adapt or die.

>> No.18649702

>>18649629
Doc Stephen?

>> No.18649722

>>18649702
Who’s that?

>> No.18649778
File: 68 KB, 178x173, 1564856138845.png [View same] [iqdb] [saucenao] [google] [report]
18649778

>>18649371

>> No.18649821

>>18641100
The only child support he had to pay her was paying the cable bill, since they had split custody of me.

I agree the lawyer was incompetent as fuck as he was a friend of my family, but the settlement happened right before my dad died and I didn't have a say in it. It was completely unrelated to his death.

>> No.18649822

My parents make good money, basically 3.5 salaries/retirements between the 2 of them. They're horrible with money it pisses me off. They've lived at their "dream home" over a decade. They cheap out on everything. They're on their 4th grill, 3rd patio furniture set, bought a shitty chinese "shed" off wayfair for like $700 and it's garbage. On like vacuum 4 carpet washer 3.

>> No.18649825

>>18649722
Your parents and you and your sis?

>> No.18649908

>>18649661
Gold is up 20% since 2019.

>> No.18649929

>>18646635
lol

>> No.18650003

>>18634795
Just a reminder, if parents typically listened to their teenagers investment advice they'd be fucked. These stories were the exceptions not the norm, none of these companies were fated to succeed and if anyone here were really an investment savant they wouldn't be posting here in the first place.

>> No.18650033
File: 85 KB, 804x802, wojak.jpg [View same] [iqdb] [saucenao] [google] [report]
18650033

>have boomer dad
>super proud about his investment skills
>tells all his co-workers to start investing too and that they're dumb if they don't invest
>one day, dad convinces one of the other boomers at workplace
>the guy invests $100 in some random company stock
>cashes out at $120, is impressed at the free money
>the dumbass boomer instantly reverts to fearful mode after one day of excitement and refuses to invest because muh risk

fast forward
>i never really ask anything about dad's investment strategy
>i kind of do my own thing, diversify and try to make smart purchases
>dad sometimes boast about his winnings, assume he is doing the same
>coronavirus comes around
>we start talking business, dad has lost quite a lot of money
>he shows me the portfolio he was so proud about
>the diversification is literally TWO DIFFERENT STOCKS
>no funds, no anything, just two different stocks he's been pumping
>one of them is a tech company and the other is a fucking airline company
>mfw

>> No.18650140

>>18637860
>8.3 mil annually on cigarettes
Virtually guaranteed to have lung cancer

>> No.18650234

>>18650033
Easy to knock the airline in hindsight.
Ironically this is a low key super IQ investment play (technically Buffett's strategy ideology). Many of the great investment strategists only bet on a few stocks that they are heavily educated on. Diversification is basically saying "I don't know what I'm doing so I'll hedge everything".

>> No.18650685

>>18635074
>knocked up my mom on a tinder date
>tinder
How fucking old are you lmao

>> No.18650803

>>18646820
>i got mines so you all can fuck off

i love boomer mentality

>> No.18650818
File: 6 KB, 224x225, images (1).jpg [View same] [iqdb] [saucenao] [google] [report]
18650818

>>18634795
>Be boomer parents
>Use the same financial adviser all their life
>Buy Microsoft and sell for 2x
>Buy apple and sell for 1.5x
>Buy Amazon and sell for 2x
>Buy Facebook and sell for 0.7x
>Buy Tesla and sell for 2x
>Buy weed stocks and sell for 1.2x
>Buy beyond and sell for 0.8x
>Parents have put in over $2MM over 20 years
>Have only gained $500k in profit
>"You wouldn't understand son, investing is hard. We're glad to have made even $1 in profit. Stocks are impossible to predict!"

>> No.18650907

>>18641933
Aww don't get all angry little buddy, you'll get him next time.

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