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/biz/ - Business & Finance

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21793576 No.21793576 [Reply] [Original]

50% of information online about getting rich and achieving financial independence is bullshit. Guru courses, dr*pshipping, penny stocks, etc.
The other 50% of information online about getting rich tells you to live SUPER fucking frugally, save every penny, and maybe have a couple million bucks when you’re an old fart.

Are these seriously my only two options if I don’t want to die broke? I was born poor, and I’d like to see immense wealth in my lifetime. The only other way I can see is getting lucky with some POS cryptocurrency or starting a business that will 90% of the time fail in the first 5 years. Why couldn’t I have been born rich?

>> No.21793612

No shit
Did you know stock market news is purposely inverse?

>> No.21793666

What do you mean exactly?

>> No.21793862

Those are your two options if you want to take pretty much zero risk

>> No.21793878

or just invest in crypto and forget all that kike shit

>> No.21793928

Like you don't already know. Get behind me,... SATAN!
:::points finger in accusation:::

>> No.21793931
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If you would have put your money in AAPL in March, you would have doubled your money by now.

>> No.21793974

He means that 90% of traders lose money and 90% of traders follow the advice of financial advisors.

>> No.21794059

Just create an erc20 token, pay pajeets to make some memes, a website and potential moon reason for the coin, finally shill it to retards.

>> No.21794151

if your life is really this hopeless buy a trailer in the woods and grow weed. if you aren't retarded you can scale to $100-200k/yr without attracting too much attention.

>> No.21794269
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Won't that get you like $10000 at most?

>> No.21794366

Interesting how that works, isn't it? I only recently became wise to this by being a bizraeli. Years of being peddled shitcoins and scams caused my bullshit detector to become refined beyond what I knew possible. Only after reading copious amounts of shills and fud did I begin to see it in every major news outlet. You can't take opinions from "trusted" sources at face value, as they are liable to abuse that trust to push an agenda. Never focus on what they say, only what they are pushing you to do

>> No.21794442

if only you knew

>> No.21794459

I already have crypto investments, and instead I put my money in RSR and made more than double, pajeet.

>> No.21794572

Living frugally is actually greatly counter-productive:
- You will not save enough to justify the sacrifice ($2k per year is "only" $100k in 50 years, sacrifice only one year to save that $2k and put it in the stock market at a CAGR of 10% and you'll have 235k in 50 years, yet you would have lived normally for 49 of those years. $2k when you're 10 years in should represent about 1% of what you make a year, which also won't help whatsoever therefore). 10% CAGR is very conservative.
- Instead, your standard of living notably suffers, risking your health and mental health, which can lead you to underperform and thus fail to reach the above goals.
Instead, living comfortably but within your means during the whole time will result in better results if you invest correctly, while making you safe, happy and productive.
Anyway, all that to say you should put all your money in SOXL and forget about it for 10 years, then wakeup to your fresh new millions of dollars of profit.

>> No.21794700

That’s exactly my philosophy when it comes to living frugally, your quality of life is so shitty. The worst of it is, people who preach this lifestyle recommend you CONTINUE to live frugally in retirement, when in actuality comfort is all that matters to an old man. How much money would I need to put in for these supposed millions in 10 years? Wouldn’t all billionaires be doing that with their money then?

>> No.21795026

There's tons of FUD online about leveraged ETFs so few people put their money in there. For the ultrarich, leveraged ETFs are a risk they're not willing to take (because it can make their wealth fluctuate from 10b one day to 1b the next, then up to 13b by end of year). Additionally, they wouldn't be able to remove their money from the market in a timely manner, and they don't actually need the ridiculous gains it brings in the upside.
Then there's the real rich people. They get to 1000x their investment overnight by buying companies outright, and funding private companies. Far better gains and far less risk than the stock market, plus you get to take your money out anytime.
There are many resources to check the real-life returns of leveraged ETFs: portfoliovisualizer.com, tradingview, several research papers on the topic. Bottom line is: it just werks, and now that we have breakers, it basically has no real chance of ever hitting 0, making it very safe even in crash conditions. Since 2011, TQQQ has 46.50% CAGR and SOXL has 36.18%, but the latter has outpaced the former in the past 5 years. Put 30k in in 2011 and you would have over 1m today.
You can also sacrifice gains for downside safety by being halfway in one leveraged ETF, and halfway in TMF (leveraged bonds).

>> No.21795895

Ah, so it’s a high risk high reward sort of thing?

>> No.21795968

What if you have 9k to your name?

>> No.21796119

>Ah, so it’s a high risk high reward sort of thing?
Yes, of course. There is no free lunch in this world.
If you hold for 10 years, that's (with SOXL at that CAGR) 1.3618^10 * 9000 = 197413. If you hold for 50 years, that's 45'699'242'520.

>> No.21796445

it's right under your nose anon

>> No.21796745

Just remember that making it in the sense of being financially independent and escaping the sheeple cycle of, government school -> university-> debt-> wage slavery-> taxes-> retirement-> working again-> death, is literally discouraged. There's a reason why this happens, you're not supposed to achieve actual success in your life you only live to work be taxed and live under usury and a shittier and shittier country. If you can actually acheive financial independence like some people have on this board then more power to you, but just know that it's not what (((they))) intended for you and if you do make it you'll still be under their radar. I hope everyone on this board can make it because no one should be subjected to this shit.

>> No.21796884

Thanks for the info fren. I hope you make it.

>> No.21797116
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>> No.21797722

What course of action do I take to be more like you/educated? Where do I go for info/education with as little bullshit as possible? The amount of bullshit I come across trying to learn how to make money has turned me morbidly cynical and dismissive. My judgement has no solid base either, so it's all that much worse.
...what do you think of taking out a loan for these kinds of investments?

>> No.21797782

Wealth and poverty are castes and to become wealthy involves dethronement of wealth. This is fundamentally why no honest information exists on it.

>> No.21797957

literally all the business models and schemes that gurus push do work though, they just aren't get rich quick schemes and generally involve a lot of work and effort. Like, dropshipping is fine if you set it up properly, tons of major brands do it for all or parts of their inventory. Private labeling is pretty close and requires more start up capital, but even more major brands just have the manufacturer stamp their logo on stuff then handle their own order fulfillment.

The main problem is that a lot of gurus just do something for 2 months, generate "100k in 30 days" (off of $250k in ad spend), then make a course that costs $997 and just barely cover the basics of a business model.

dropshipping, private labeling, stock trading, real estate investment, affiliate marketing, amazon stores, etsy, print-on-demand, building SEO-focused niche sites for ad revenue, ad arbitage, etc etc etc etc all fucking works, its just probably not as easy as it appears on the outside, and the base-level information certainly isn't worth paying for, and most of the people teaching these courses are teaching them the wrong way or don't really go into any detail

>> No.21797966

The only way is trial and error, and encyclopedic sources of information like investopedia. There is no real information about investing anywhere (for obvious reason: anyone who has that info will keep it to themselves hoping the trick keeps working for a while).

>> No.21798133

Oh yeah, I’m sure you can make 45 billion fucking dollars by not touching $9k for 50 years.

>> No.21798382

You must be at least this high to ride the holocoaster.

>> No.21798895

Defend yourself.

>> No.21799048

Doesn't sound like you're accounting for decay and if it the market takes a shit or is stagnant

>> No.21799871

You agree that it’s high risk and then immediately dish out some calculations like it’s guaranteed

>> No.21800004

>Why couldn’t I have been born rich?

Because Hitler lost the war so (((they))) get to control everything and only choose themselves to be rich at our expense