/biz/ - Business & Finance

[Anonymous No.21616128]

>1 million dollars isn’t making it

[Anonymous No.21616174]

>>21616128
True

[Anonymous No.21616270]

>>21616128
It is for me. ~$250k house in a safe but cheap area, $750k to put into various index funds and crypto trading, 5% a year easily covers all my living expenses and gives me some play money.

[Anonymous No.21616296]

Can invest into property into a cheaper area and live off the rent.

[Anonymous No.21616334]

>>21616270
Are you me?

[Anonymous No.21616341]

10mil is basically nothing in 2020
>7 mil on a nice apartment in a good city
>3mil for everything else
kek

[Anonymous No.21616351]

>>21616128
21 BTC will be making it

[Anonymous No.21616367]

>>21616128
its definitely not
>>21616341
this is retarded fud

[Anonymous No.21616392]

>>21616341
it’s terrifying. It’s like you have to have 50 fucking million to be safe and fully in the clear.

[Anonymous No.21616457]

>>21616334
We're a pretty common breed I think, at least here. Mid 20s-early 30s single men (wizards or maybe one-time-gf-havers), not really that interested in material things, no desire to be around and impress people, spent all of life in school or working, weekends don't do much but those rare week-long breaks bring out a sudden drive to create or improve only to be cut short by work again, etc. What do I need a lambo for? I just freedom from rigid schedules and existence-taxes.

[Anonymous No.21616486]

>>21616270
Some people here are just greedy and think they will need a NYC penthouse, hookers 365 nights a year, a yacht, lambo and $100k per year income.

[Anonymous No.21616489]

>>21616270
safe, cheap, and fun are the variables when it comes to “areas”. You can only pick 2 of 3.

[Anonymous No.21616502]

>>21616341
What fucking city are you trying to live in that costs 7m for a good apartment for one person?

[Anonymous No.21616561]

>>21616489
>fun
I have the most fun in my home, free of obligations.

[Anonymous No.21616579]

Making it is having a simple ranch in a quiet town with some decent property then surrounding it with anti tank trenches and barbed wire. Use the rest to raise pigs and chickens and one Lama for fun. Then start a podcast saying whatever the fuck you want because you are untouchable

[Anonymous No.21616596]

>>21616457
This. So much this. You think I can make it on a mil, anon? I need 200k to pay off the house. Ive already bought most of my material possessions. I just need fucking time.

[Anonymous No.21616610]

>>21616561
that’s probably because you are a boring and lazy human being

[Anonymous No.21616611]

>>21616486
>Can buy 45 acres of land and build a 3 bedroom house for $350k.
>Can make enough money per year on said land to cover living expenses.
$400k and im out fellas. Got almost halfway there at $20, second we hit $50 Ill walk away with a cool $420k after tax and never look back.

[Anonymous No.21616689]

>>21616611
>>Can make enough money per year on said land to cover living expenses.
Doing what?
>second we hit $50 Ill walk away with a cool $420k after tax and never look back.
Cashing out your entire stack is unwise. If you wait until $60-75 and hole 1K LINK for a couple decades you’ll likely be able to keep your stardew valley fantasy afloat

[Anonymous No.21616726]

>>21616489
Countryside.
Safe, no hooligans and urban density.
Affordable, much more than the city.
Fun, I can shoot my guns, go fishing, garden, long drives, restaurants in town with local food, invite friends over for BBQs with space to entertain.

[Anonymous No.21616729]

>>21616596
Depends totally on your standard of living, but the only way 1 million isn't enough to make it for a modern-hermit type of living is if the economy goes really fucky, or if you marry a woman and/or impregnate her.
>>21616610
You do you normie :)

[Anonymous No.21616734]

>>21616270
What about taxes?
I was planning on something like this but I feel like that puts a hamper on plans.

You'd end up closer to like 400k-300k for index funds and trading no?

[Anonymous No.21616778]

>>21616611
Remember, you don't need to pay in cash. If we end up having substantial inflation this decade, you'll be much better off holding a mortgage.
>>21616734
I was assuming OP meant $1 million post-tax cash in the bank. If you're talking about property taxes, 5% on $750k should effortlessly cover that several times over.

[Anonymous No.21616815]

>>21616457
Listen Fren, if you're gonna live in my head like that I'm gonna have to charge rent soon.

[Anonymous No.21616838]

>>21616729
>normie
Careful, only one of us is a wagecuck

[Anonymous No.21616845]

>>21616128
Unironically true if you want to live in a wealthy country. I live in northern Europe and have about 900k. It's far from enough to retire and live a comfy life here. A decent apartment in the capital of my country is $300k+. I'd say $2.5MM is the minimum to /make it/ here. That's $75k/ year at a conservative withdrawal rate (3%). And a third of that goes to taxes...

That being said, it's still very comfy to have a lot more money than everyone my age (and even people twice my age). It's nice to not have to worry about money and be able to buy most things I want (I don't have very expensive habbits though). And if I really want to, I can retire in poor country (eastern Europe, SEA or South America).

[Anonymous No.21616852]

>want to buy a sports team
>my 5 mil in LINK isn’t enough

[Anonymous No.21616893]

>>21616838
What do you do for a living?

[Anonymous No.21616939]

>>21616726
Seems comfy. I personally would want to be around a music scene and have access to world class healthcare. The Chad move is to have a main residence in the countryside and an apartment in a major city. That was my pre-covid plan. Although major cities in America are becoming genuine shitholes by day. I will probably have a house in NZ and an apartment in Tokyo.

[Anonymous No.21616974]

>>21616457
Everything you said is true for me except I'm pretty good with women when I try and I do like being around people sometimes. At least people I like. There's nothing I hate more than fake people, superficial people and pretentious people though. And most normies are at least one of those.

[Anonymous No.21616996]

>>21616729
Already married, but incapable of producing children. Maybe I can escape the wagie life before 35 or before i decide to rope. Thanks for giving me hope.

Feelsgoodman.gif

[Anonymous No.21617040]

>>21616128
This is true $10M is needed in the current environment.
Don't get me wrong $1M is a fortune and something 99% of this planet isn't going to earn during their entire lifetimes
>>21616341
You're fucking greedy you can easily support a family for lifetime with $10M and buy your kids houses.

[Anonymous No.21617043]

>>21616778
Whats the best way to earn the 5%

[Anonymous No.21617067]

>>21616128
>$1,000,000 is just the beginning

[Anonymous No.21617128]

>>21616893
Self-employed attorney. Have a couple big cases held up by covid. Got in LINK very early. The cases ensure I won’t have to sell any LINK for several years or until it hits the right price. But as far as waking up early and commuting to an office and dealing with actual normies for 8-10 hours a day 5 days a week... haven’t done anything like that in many years.

Just frustrated by how little $1M seems to get you these days unless you wanna go innawoods and not have children or any sort of culture (museums, lectures, classical concerts, plays, sporting events, etc)

[Anonymous No.21617146]

>>21616778
Ah figured, so making it is probably closer to 1.6 million pre-tax.

[Anonymous No.21617157]

>>21616974
Fake people are worst, especially the type of people who change depending on who they talk to. Guy at my work talks to me like a buddy and freindly but ignores me and acts completely different when others are around. He carries himself differently hard to explain but makes you want to give their head a fisty massage.

[Anonymous No.21617164]

>>21616974
I don't even hate people, I just don't get anything out of them except a bit of anxiety.
>>21616996
>married
That could be a problem, hope your wife has the same goals as you, most women do not want the hermit life.
>>21617043
>Whats the best way to earn the 5%
There isn't just one way, but index funds are a safe thing in the long run. Not that I'd recommend it, but you could just go all-in on Coca-Cola stock and sit on dividends of $20k/yr (which is at least $15k/yr after property taxes, utilities, food).
>>21617128
Sounds like you're doing pretty well either way, congrats anon. Can guarantee that the average /biz/raeli is not cut out mentally to be an attorney though.

[Anonymous No.21617168]

I don’t need a lot but I’ve been running the tax numbers lately. Just living in California sucks dick on state taxes after capital gains . I think I’d just move to Washington or some 0 tax state for a while .

[Anonymous No.21617214]

>>21617164
Haha my wife is more of an antisocial homebody than I am.

[Anonymous No.21617245]

>>21616852
what team you want to buy anon? If the NBA proceeds with their investment fund, you could always get in on that.

[Anonymous No.21617247]

>>21617168
Yeah you gotta get the fuck out of California. Very diminishing returns and you overpay massively. I’d pay a lot to live in 1960s Cali but 2020? Fuck that

[Anonymous No.21617262]

>>21616128
1M isn’t enough if you plan on raising a family.
If you plan on NEETing it up your entire life, then yes, it’s enough.

/thread.

[Anonymous No.21617269]

>>21616128
What the fuck could you really do with that besides piss it all away? Split it up and grow it

[Anonymous No.21617271]

>>21617245
>If the NBA proceeds with their investment fund, you could always get in on that.
What’s that? I might be interested.

[Anonymous No.21617384]

>>21616128
Some people win the lottery and end up wasting it.
Some people have 500k can make it.
Mindset is part of the equation.

[Anonymous No.21617411]

>>21616689
>If you wait until $60-75 and hole 1K LINK for a couple decade
Retarded fud

[Anonymous No.21617421]

>>21617271
Google it. There are a few articles from late last year about the possibility of making an investment fund so non billionaires could buy into a franchise. But i haven't seen any more recent articles.

[Anonymous No.21617448]

>>21616610
a woman wrote this post

[Anonymous No.21617477]

>>21617067
This.
Once you get past the hurdle of $1M, you can accumulate money at a rapid pace.
Idk why people would just cash out.
It took me 2 years + to finally cross that barrier, and now just in the last 4 months, I’ve accumulated around 433k so far just diversifying. Cryptowide bullseason definitely helped.

[Anonymous No.21617536]

>>21616610
Rainy days make you gloomy. If you're told this is so, then that is what you believe is so but you can have fun on a rainy day too!

[Anonymous No.21617611]

>>21617262
This.

I know people say 1M is enough but if you think about it, a 5% annual return which is fairly easy is just about 5k per month. If you live central in a big city that's not really enough, and neither if you have a family. Double that up to 2 mil and you have 10k a month on average. Now that's enough. But I would say 2-3 mil is enough if you dont really plan on buying much expensive stuff and just live comfy.
5-10mil sounds much better. It should give you total financial freedom for the rest of your life.

[Anonymous No.21617617]

>>21617477
The mindset of the average person isn't, "How can i put my money to work and make more.", they eat, shit, live and breath week to week, living in the now without much of a care for the future. Even a retard could get into crypto or stocks and make it with some base level fucking research and a whole lotta patience. But they don't think that way. They see $1,000,000 and the first thought is, "Wow, i can pay off all this debt, have little to none of the money leftover. And if there is leftover, spend it on something nice for me and my family." Where the vicious cycle repeats and they accumulate more debt.

[Anonymous No.21617715]

>>21617617
kek ask anybody what they would do if they had 1 million. See how many would mention anything that does not involve a deprecating asset

[Anonymous No.21617889]

>>21617617
I assume you’re right and that’s why we get so many wwyd if you made it threads daily.
I’ll use that money to make more money what do you think.
Cashing out literally means you reset your entire fucking progress back to zero.
None of the replies here mentioned this which is insane for a board dedicated to Finance.

[Anonymous No.21617912]

>>21617477
ok but how are you gonna cash out

[Anonymous No.21617918]

>>21617611
>If you live central in a big city that's not really enough, and neither if you have a family.
I live central in a city with one of the highest median incomes in the world, and I get by on "just" $35k/yr.

[Anonymous No.21617925]

>>21616128
Honestly for the past 2 years on here I always assumed that making it was 10M, or at the very least over 5. Suicide is 1M.. cause you don't have enough to escape completely.

But seeing people say 1M is making it just confirms that most people here are either less than 21, or, are from Mumbai.

[Anonymous No.21617947]

>>21617912
I cash out what I need all the time with crypto debit cards.
I didn’t pay cash upfront for my house, I made a downpayment and have mortgage, it’s the smart move considering the current circumstances.
Why would you pay cash upfront and just kill your liquidity?

[Anonymous No.21617961]

>>21617889
Which is why as unlikely as it seems, even being on a shitboard like biz and putting minimal effort into investing puts you leagues ahead of the droves of NPC's in this world

[Anonymous No.21618014]

>>21617925
>But seeing people say 1M is making it just confirms that most people here are either less than 21, or, are from Mumbai.
I live in Southern California, and could more or less "make it" on 1 million. I'd rather move somewhere cheaper and less communist first, but talking about the economy as it is today, I could easily make it.

2000/mo rent
150/mo utilities
200/mo food
300/mo car stuff

And I'll round up to 3000/mo total. Multiply by 12 months, 36k/yr total. If I wanted a home here, the mortgage would be about half of my rent. 1 million with 3~5% annual yields easily covers that.

[Anonymous No.21618043]

>>21616128
not a bad fucking start doe

[Anonymous No.21618170]

>>21617947
just shitposting. i'd use most of crypto gains for more investing and trading as well and not just want to start from square one again.
when you're pulling out from coins after bull season is over you just gonna keep it in tether?

[Anonymous No.21618187]

>>21617961
I guess so, but if anons here think they will cash out the entire investment in one go and can live happily ever after, who am I to stop them?
They’re still ahead of the normies at least.
I just wanted to put my perspective across.

[Anonymous No.21618262]

>>21618187
And you're spot on. People think unless your Jeff fucking Bezos then your just part of the normies. Most all of the wealthiest men alive today achieved this through generational wealth. It's the mindset that set's you apart from the masses. the Room Temperature IQ play is to wagie day to day, week to week. the 120 IQ play is to invest and cash out on your first big hit, pay off your debt, rinse and repeat. The 200 IQ play is to keep your investment money in asset's, and continue to grow it exponentially till you have fuck you money.

[Anonymous No.21618285]

$10m is making it. $1m is just financial freedom. Yeah yeah you can say "noo $700k is freedom" stfu I'm using simplified numbers you faggot. Anyway assuming 7% roi with 2% inflation so 5% roi, you get $500k per year. $200k back into investments. You are left with $300k. Your kids have to go to a proper elite schools from a young age where they develop at a more rapid pace compared to some pleb schools. That's about $20k-$50k a year during the 1-12 grades per kid. Then some nice house with mortgage of about $20k a year. Then some nice vacations every year. You'll probably have some leftover money still.

[Anonymous No.21618340]

>>21618170
Yeah, but you cannot always time the market, I try not to sell my BTC/ETH even during bearish cycles, because swinging just means more stress.

What I do instead is take profits when it crosses certain levels for BTC and ETH and keep them in DAI, USDC and CUSD and I take spending money out from that pot and the rest I reinvest during bear cycles.
For altcoins it’s similar, I stick to top 20, and I rebalance them based on risk levels and take profits to reinvest into BTC/ETH.

[Anonymous No.21618433]

>>21617925
Honestly if you cannot escape the rat race with 1M, then no amount of money will ever help you, adding more zeros so you can get 10M or 100M only delays the inevitable moment where you declare bankruptcy and rope yourself.

[Anonymous No.21618516]

>>21618340
what compels you to choose what stablecoin to go to

[Anonymous No.21618530]

>>21618433
See
>>21617617

[Anonymous No.21618620]

It's never enough.
Made it in 2013, lost 90% then
Made it again in 2017, lost 95 % again to the same mistakes.
Don't be gready, lock in profits.
Now i starting again with deposit even smaller than i had in the 2013
The thought that you yourself killed opportunity to be wealthy is dismal.

[Anonymous No.21619383]

>>21617411
yeah just cash out your entire stack at $50 bro. fucking r/finance faggot

>>21617448
young men who live alone in the woods have no talent or drive or mettle. they are retreating from life

[Anonymous No.21619471]

>>21617947
>Why would you pay cash upfront and just kill your liquidity?
Tough call. Would be nice to just own shit free and clear desu. But you will almost certainly make more money by taking out a mortgage and investing the money you save.

[Anonymous No.21619557]

>>21616128
Filthy Third Worlder here, $1 mill is more than enough to live a comfy middle class life forever

[Anonymous No.21619573]

>>21618285
This is pretty much how I see it. Really trying to get $10-15M out of my LINK stack. It seemed like a fantasy until the last couple months. Even though the project is rock solid and it’s obvious that it’s going to explode, still just seems surreal

[Anonymous No.21619590]

>>21618620
If you had had proper risk management then you would most likely never had reached such a high ATH though. The reason why you (and many other people) made insane gains is the same reason why you went broke. (Almost) zero risk management.
If you've invested 20% of you net worth in crypto and it 2x'd your money then the "responsible" thing to do would be to sell most of your gains. But of course you most likely won't /make it/ by playing it safe. It's dumb to blame yourself for not having proper risk mangement at ATH when the only reason why you reached such an insanely high ATH is that you had zero risk management on the way up.

[Anonymous No.21619612]

>>21618620
God damn how the fuck did you not take profits in 2017?
That said, it is much better to kill your opportunity to be wealthy by holding too long than it is to sell early and watch it go to the stratosphere. Nothing is worse than that imo

[Anonymous No.21619648]

>>21616128
True, you can thank governments and corporations for inflating away your hard earned money. Even before this year, I would have said 6 million is making it, but now I'm adjusting it to 8 million due to price increases.

[Anonymous No.21619662]

>>21618516
That's a non issue man, just steer clear of tether the ones I mentioned are fine. Depends on which stablecoin pair except Tether has good liquidity I guess.

[Anonymous No.21619672]

>>21616341
>7 mil
>apartment
this can't be real

[Anonymous No.21619674]

>>21619612
I used to think that, but nothing is more satisfying than cashing out profits. Going "oh I could've had X" isn't as bad as "Well I lost 90% and have nothing to show for it". I cashed out my initial x5 and now just ride house money, feels comfy

[Anonymous No.21619691]

>>21619612
See this >>21619590. Of course he should have exercised proper risk management and taken profits after 100x'ing his money. But he only made it to 100x because he had ZERO risk management on the way up. If he had used proper risk management he would have sold most of holdings when he reached 10x or even 5x.

[Anonymous No.21619696]

In the off-chance that some 18 year old reads this, let me shape your opinion the correct way.

"Make-it" depends on the cost of living of the area you want to live in + what kind of family status you want to have. If you want the bachelor life in a low cost of living (LCOL) then 1mil is not far from "enough". If you want to live in an area with very high cost of living (VHCOL) and have a family with kids, you need around 8mil usd.

The main issue is that you don't really know how your appetite/lifestyle will change in 10 years, especially if you are just 18 now. So keep that in mind.

[Anonymous No.21619698]

>>21616128
It absolutely is if you reinvest it smart and aren't a greedy fuck

[Anonymous No.21619756]

>>21616341
any place that expensive is not "good".
120k gbp and i've made it. houses in this shithole area are as cheap as £15,000. i already own one. 120k gets me enough rent money for life to live like a cosy peasant who'll seldom run out of gruel. no work = making it.

[Anonymous No.21619795]

>>21619698
As >>21619696 said it depends on your lifestyle and where you live.
Of course you can retire on $1MM in Thailand, but $1MM is far from enough to retire and start a family in a wealthy 1st world country. I think a good rule of thumb is to use a 3% withdrawal rate. If you can live your dream life on $30k/ year pre tax then $1MM is enough.

[Anonymous No.21619803]

1 million is debt free life for a middle class guy not living in shitty overpriced hivecities.
If you have that before 30 you're set for life if you manage wisemy.
Of course you won't have an exhuberant lifestyle but you are free to do anything with your time.

[Anonymous No.21619819]

>>21619756
FIRE (Financial Independence Retire Early) can take the form of a "lean" FIRE or "fat" FIRE. What you are describing is an extremely "lean" FIRE. Life is long and desires change. Stay safe, friend :/

[Anonymous No.21619859]

>>21616611
>after tax
fucking amerimutts lmao
imagine paying a 5 figure sum in taxes to support niggers on welfare my fucking sides

[Anonymous No.21619926]

>>21619756
use some of what you saved to invest in property or something else that will generate passive income, just in case fren

[Anonymous No.21620002]

>>21618620
>It's never enough
Yes it is. You're just retarded and greedy on top of it. I hope you blow your brains out after your last attempt at making it fails. Why are you even trying? You know you're too retarded to take a profit anyway, you'd lose it all like a dumbass again.

[Anonymous No.21620008]

>>21619926
yeah sorry i mean i'd stuff the 120k into property then live off the interest. i mean as soon as a boiler blows up i'm fucked, but i'm in denial about that, so there's no problem whatsoever. we shall let the gruel flow freely my financially unfettered friends.

[Anonymous No.21620016]

>>21619662
lastly would you say your road to one million was primarily fueled through BTC/ETH trades or alt/shitcoin diversification?
I'm only a student now so my only experience with crypto consists of shitcoin chasing here and there, I'd like to hear experience from people who've traded with big boy money so I know if I ever get to that point if u don't mind

[Anonymous No.21620045]

Nowadays, 1 million isn't as much as it used to be. People always touted "1 million" as the make it number but that was in the 1950s era, and without quantitative easing and inflation fucking things up. The current "make it" number is $10 million.

[Anonymous No.21620047]

>>21620008
>interest
rent.
whatever.
100% going to work.
>>21619819
>FIRE (Financial Independence Retire Early)
sounds like a good definition of the makening to my mind. should perhaps up my game, but meh.

[Anonymous No.21620067]

>>21616128
unless you live in USA that is a shitty pre-war broken country, yes, 1 million you are done and living ok in anyplace from europe to latinamerica to asia

[Anonymous No.21620075]

>>21620045
i heard 2 celebs discussing this on tv. who i can't remember, but they were discussing how much money it was appropriate to leave their partner if they should die. like what would be the minimum acceptable amount. they settled on 20 million usd. fucking madness.

[Anonymous No.21620092]

>>21619756
>no work = making it.
Except most NEETS on this site are miserable. Turns out you gotta do more than sit on your ass all day receiving or withdrawing small amounts of money to enjoy your life.

[Anonymous No.21620121]

>>21620016
When I started out I was diversified into a lot of altcoins and always took profits back to BTC, since the primary pairs with most liquidity back then were BTC-Altcoin.
I'd still do the same, take profits into BTC at good profit levels and never marry a single coin. 99% of coins will be dead after the initial hype phase remember that.
Never think this is it, this coin will make me filthy rich, that's 99/10 times a trap so odds are against you. $X EOY and $X EOY posts are made to suck people into investing and bagholding while smart money moves out of their positions consistently into more lucrative ventures.

[Anonymous No.21620142]

>>21620092
i'd kms you'reself myselve's if i had to live on any amount of money on welfare, that shit has to be torturous. if it was my own and it was reliable i'd be on a level neethood alone will never achieve.

[Anonymous No.21620229]

>>21620092
They aren't actually neets. A true neet loves working on personal projects and living a busy fulfilled doing fun things that matter. I don't know how you got wage cuck and neet mixed up but I promise you they are exact opposites of each other. Maybe you are just really really stupid. You should work on that and not post again until you stop being stupid.

[Anonymous No.21620233]

>>21620067
If you go to Eastern Europe you can live for the next 50 years like you're lower middle class with only $300k considering you can keep up with inflation.
1 million you will live like a king anywhere east of Germany with a few exceptions.

[Anonymous No.21620272]

pretty easy guys
pick your annual growth rate: 3%, 5%, 7%
1M - neet makes it without working (single)
3M - normie makes it without working
10M - normie lives large

[Anonymous No.21620360]

>>21619691
Right. My logic is this is my one legit lottery ticket in life. I am willing to risk basically any amount below $7-10M in order to hit those numbers. But I also have sell points and will never cash out my entire LINK stack even if I hit my target amount. I’ll always leave at least 1K Linkies just in case we actually hit meme numbers like $10K and up per token.

[Anonymous No.21620380]

>>21620272
pre-tax, US

[Anonymous No.21620395]

>>21620229
That's not what NEET means you shit eating retard. There are plenty of NEETS who are miserable on this site, maybe you should work on your delusions before posting here you dumb schizo.

[Anonymous No.21620406]

>>21616128
50 million dollars is the make it investment.

[Anonymous No.21620425]

>>21616128
>People who think this are the ultimate wage slaves.

Eurofag here in a western euro country, the average 1 bedroom apartment in my capital city costs 250-350K.
>am I going to buy this for myself no
>am I going to pay cash no.

With a 350-500K investment I can easily get loans and buy 3 apartments which all pay about 1500-2000 in rent each. This enables me to live on a comfy monthly income and still have 500K left to invest.
This also makes sure al my basic expenses are covered and gives me time and money to look for my next move to make money on.

[Anonymous No.21620463]

>>21616128
Millionaires are basically the new middle class. Everyone below that can be considered poor.

[Anonymous No.21620466]

>>21620425
Good luck getting 3 mortgages if you're not a wagie lol

[Anonymous No.21620525]

>Only needed one more 2x to reach 1 million

Shit guys....I was so close....

[Anonymous No.21620539]

>>21620406
Agree. $50M is where you truly can have it all. Big house with pool on tons of acreage, apartments in various major cities, a bunker somewhere, beach house, ski lodge, take private jets wherever you’re heading, fund research into AI and VR and various medical treatments, fund cool vidya or art projects, start a label, set up scholarships, help out local businesses, take care of family members and close friends, etc.

[Anonymous No.21620586]

>>21620539
but how though, practically speaking? 50mil will never be cash in bank, it would have to be invested in diversified assests, and managing that kind of money is a job in itself. people forget that it's about monthly income, not necessarily net worth

[Anonymous No.21620597]

If you want to home school your kids you need a decent amount so you don't have to do that and teach. You want to home school them right?

[Anonymous No.21620616]

>>21616128
1 million dollars isn't making it for a wagie normie. They will buy a house, a fancy car that will get destroyed by niggers, the newest iPhone XL+ Extra with extended warranty and be left with fuck all

[Anonymous No.21620641]

>>21620466
Lol there are plenty of ways to get a mortgage that is designated for investment properties that don't require an income.

The property itself generates income from rent coming in and the financier will look at it like that.

Have fun being a wagie for the rest of your life.

[Anonymous No.21620677]

>>21620641
Who's gonna pay you rent if the economy is crashed and people have no jobs, Einstein?

[Anonymous No.21620712]

>>21616128
How lmao? With that you can easily make investments that guarantee you passive income for life. Sure you cant buy a mansion, but all "making it" means is freedom from wage slavery.

[Anonymous No.21620726]

>>21620641
>landlord
>levered
>permanently on call
you can go do this without crypto my guy

[Anonymous No.21620783]

>>21620641
>he dreams to become a slumlord
>he thinks this is passive income with little work
>while living in a west euro commie shithole where the tenant is the only one with rights
what an absolute fucking retard my sides

[Anonymous No.21620894]

>>21620783
You realise there are companies that take away all this work for you? In the Netherlands this is even advised, or otherwise you cant get tax benefits on this income(it would be seen as work otherwise).

Of course a small part would go to the company handling all the shit for you but the rates arent that bad

[Anonymous No.21620930]

>>21620894
>he doesn't know he's still levered
>he thinks the market won't efficiently capture his gains
>he thinks by hiring a manager he won't have to manage the management
>he thinks the tenants are no longer his problem

[Anonymous No.21620938]

>>21620586
Most of it in a super low risk bond setup. Some in precious metals. All the international real estate I was talking about. Index funds. Annuities so you’re getting paid each month for life. Cash spread across a few accounts.

Should definitely pay someone to manage all of it if you’re worth that much. Just go to a guy who manages celebrities or pro athletes, where $50M is run of the mill.

[Anonymous No.21621117]

>>21616457
Yeah, definitely sounds alot like me. However, I dont know what I would really do with my time if I attained complete freedom from having to work, I dont really think that's a realistic proposition though, I realistically hope to have enough for a large house deposit. I think my creativity would definitely expand having my own larger, permanent space that I could improve upon and pursue projects and hobbies. My dreams are humble and realistic I hope.

[Anonymous No.21621147]

>>21620783
yikes... you realize that with 1mil, it’s easy to get your hands on 2-3 quality properties and generate tons of passive income right?

>oh no, my tenant left a message that a door hinge needs a quick fix and this is my only job as I make 4-6k a month, my life sucks ass

not recognizing the fat lumps of money to be made in real estate is beta af. ngmi

[Anonymous No.21621192]

Depends where you live.
Here in Wales you can get a small mansion for $500k, and could easily retire with the rest so long as you're not a nigger and blow it on stupid status shit.

And in some countries you'd get even more bang for your bucks.

[Anonymous No.21621483]

>>21619674

i only made €11000 with this chailink bullrun if i would cash out. but im holding. €11000 is nice money but it wont change my life since i still have 30k on my banking account so i'll just let it sit in my wallet hoping link goes much higher.

[Anonymous No.21621494]

>>21621483
>i still have 30k on my banking account
What the fuck is wrong with you

[Anonymous No.21621559]

>>21621494

3 years ago i lost 35k to a bad investment, i dont want that to happen again, i have my own small business and make allright money, but im not gonna throw it around.

[Anonymous No.21621614]

>>21621559
If only you understood Chainlink better you'd realize why having that much money sitting in the bank collecting dust is just retarded.

[Anonymous No.21621683]

>>21621614

maybe that's the thing, what if i dont understand it enough and what if it doesnt succeed

[Anonymous No.21621826]

>>21620616
>Id trips
Nice

[Anonymous No.21621835]

>>21621683
Perhaps it would be a good idea to educate yourself more on what you're invested in?

[Anonymous No.21621883]

>1 million
>Making it
>3% return

LOL fucking retards. 1 million barely gets you a house.

>Leave the city!

Yeah not everyone wants to live in the middle of fucking nowhere.

Enjoy 3% returns when the real rate of inflation is like 8%.

Poorfags GTFO. Reminder poverty is a mind set.

Read think and grow rich.

Minimum making it amount is $8M USD.

[Anonymous No.21621996]

I made ten thousand dollars today and feel like I already made it

t. poor third worlder

[Anonymous No.21622069]

>>21616270
Real rate of inflation is 8%. Your returns will be taxed too. Enjoy eating Raman every night. No wife and kids. No sluts. Pathetic.
>>21616457
No Lambo = LOSER
>>21616486
Greed is good. Stay poor. 100k a year is SHIT.
>>21616502
NYC. Vancouver. London. Hong Kong. Tokyo. Not everyone wants to live in the middle of nowhere.
>>21616579
Peasant mentality.
>>21616596
Pathetic.
>>21616611
Poorfag.
>>21616778
Real rate inflation is 8%. 5% - taxes is fuck all.
>>21617918
Making it is about living LARGE.
>>21618014
Real rate inflation is 8%.
>>21618285
King Shit.
>>21618620
King shit.
>>21619557
Well we're in the first world, pal.
>>21619756
Poorfag cope.
>>21621883
King shit.
Jannies need to start banning these peasants. The only thing that matters is money and whores. 1 million is shit unless you live in the middle of nowhere. Ranch loving Christcucks get the fuck out lmfao

[Anonymous No.21622218]

I could probably make it with 1million after taxes. Prob keep 400k in crypto and use 600k to buy three properties. Live in one and rent the other two.

For me that would be making it. If I wanted to expand i’d take a HELOC out on one of them and use the BRRR method to buy another property.

[Anonymous No.21622278]

>>21620641
I'm not a wagie, you dumb fuck. I already made it by your poorfag standards. And I actually have experience trying to get multiple mortgages while unemployed (unlike you).

Even just getting a single mortgage if you have no stable income can be difficult even if you're rich.
> The property itself generates income from rent coming in and the financier will look at it like that.
No they won't. You clearly have no experience. Leveraging your net worth doesn't magically make your credit risk go down, brainlet. It makes it go UP.