/biz/ - Business & Finance

[Anonymous No.24531404]

>mfw a million USD isn't even a lot of money anymore
even when we get there it won't be impressive

[Anonymous No.24531441]

grow the million

[Anonymous No.24531463]

>>24531404
million is enough to start investing and making real money, it's all you need to get started

[Anonymous No.24531486]

>>24531463
>Million is enough

This. A small loan of 1 million dollars will get you so far. My uncle has Hotels and Casinos around the world now and that's how he got his start. Dream big anon.

[Anonymous No.24531495]

>>24531463
This. You can more than double that million every 5 years just dumping it into NYSE:VUG.
Crypto is an emerging market, and will see a way faster growth in this decade.

[Anonymous No.24531534]

All u roody poos should shut up

[Anonymous No.24532612]

I'm 37 and became a millionaire this year. I know I'm well off, but I don't feel rich.

[Anonymous No.24532694]

yeah if you're a useless NEET sure
I already started a business with fuck all money, with $1m I can genenrate probably $10-20k a month, and that's passive income.
People who say you need more are just greedy or want to do NOTHING with their lives.
I don't want to settle on 1mil but if my crypto gets there I'm getting the fuck out (aside from at least 2.1 btc of course, never selling. fuck kikes)

[Anonymous No.24532719]

>>24531486
How is your uncle Don these days?

[Anonymous No.24532739]

>>24532694
How do you generate that much passively? Rental income?

[Anonymous No.24532786]

>Over 5% of Americans are millionaires
A million is nothing anymore, but at least you can start making a good amount of money on your investments. 10% a year feels a lot better when you have a million compared to like $10k

[Anonymous No.24532804]

>>24532739
yes, vehicles and car parks

[Anonymous No.24532904]

>>24531486
kek

[Anonymous No.24532931]

>>24532739
don't worry cause he doesn't do it, has no money, and is only speculating...

[Anonymous No.24532951]

>>24531404
It was never impressive, having a disposable $1million is. There are a lot of working class people worth at least $1m

[Anonymous No.24532959]

>>24531404

Why is everyone who says this shit some cuck making 30k a year. Motherfucker it would take you 20 years to even save half a million so stfu about 1 mill not being enough. For a normie it’s a huge amount.

[Anonymous No.24532993]

>>24532694
How are you generating $10k/month? That's a 12% APY. You can get that or better some years, but I wouldn't bet on it. I always assume a 5-8% APY on stable passive investments. 5% of 1MM is only $50k before taxes and health insurance

[Anonymous No.24533000]

>>24531404
A million is 2 houses in california. Its really nothing materially speaking

[Anonymous No.24533042]

I have a million and it's bretty cool.

if you want to be a coomsumerist faggot then yes, you will need more.

[Anonymous No.24533083]

I have $57k in crypto. How do I turn it into a million?

[Anonymous No.24533150]

>>24533042
Need at least 2-2.5 million if you want to hardcore consume. Even then you probably want 3 or more so you don't have to watch every financial move but still will always have enough. At least if you're not retarded in your spending.

[Anonymous No.24533238]

>>24532951

>There are a lot of working class people worth at least $1m

Lol horseshit. A 1 million net worth puts you in the top 1% globally and the top 3% in the US. America also has the most millionaires in the world, so that's saying something. The perspective on this site is so skewed. You don't know the meaning of "working class," pal. Hint: there's no such thing as a "working class millionaire." It's an oxymoron.

If you can't live the life you want to live off $1 million USD -- 40k a year *baseline* income, doing absolutely nothing -- you're either a total retard or your desires are absurdly overinflated. You have to know when enough is enough, or you will live your entire life in service of mammon. If you run breathlessly on the hedonic treadmill the carrot will remain forever out of reach.

[Anonymous No.24533339]

>>24532931
the fact that you think I'm larping is really telling.
NGMI
>>24532993
I'm not generating 10k, but with 1mil I could easy. short term rentals on vehicles and owning car parks near the city center.
Just to give an example one of my vans cost me $10k up front it generates about $400 in cash in the hand per month. you can do the math, if I could scale I would be killing it.

[Anonymous No.24533484]

>>24533238
Net worth is a culmination of assets you dumb nigger licking nipple fucker. That doesn’t mean they need to have $1 million usd in the bank. NET worth includes property and liquidity. A house, a car, a business, stocks, 401k ,etc.
>le Reddit spacing
>the perspective on THIS site
You do understand that working class just means you have to work for a living? You can’t comfortably quit your job when you have $1 million usd unless you lower you quality of life and standards. If you had a career from age 22 and worked up to a senior position over the course of 10 years making 50k~70k and made smart investments you’ll be a millionaire but you can’t quit your job you don’t have your youth to enjoy your money. It’s not enough

[Anonymous No.24533567]

>>24531404
>a million dollars is nothing
>meanwhile you have a net worth of sub 100k

[Anonymous No.24533629]

He thinks net worth and a 1m in the bank are the same thing.

[Anonymous No.24533798]

>>24533000
its the price of 1 townhouse in prime location L.A.

[Anonymous No.24533932]

>>24533484

Yes, net worth. Did I ever say anything otherwise, sweetie? That puts you in the top 3% of America. Learn to read.

>muh Reddit spacing

Confirmed for buzzword spaz. No, that is not what working class means; there is an obvious distinction between an auto mechanic and a white-collar middle manager. "Working class" usually implies blue-collar, making median income or less. An investment banker is not "working class" because he "has" to work; "needing" to work is totally subjective. And yes, if you have a million dollars and still feel you need to work, you are retarded. You don't have to do shit -- you've just bought into the consumerist spook and live an inflated lifestyle. If patronizing fine dining establishments two times a week, owning a shiny new 40k truck, and possessing an 800k house outside a major city are integral to your quality of life, by all means keep slaving for your shekels. So long as you realize that you don't actually need those things -- you've just fooled yourself into thinking you'll be miserable if you don't have them.

[Anonymous No.24533954]

>>24533000

I thought no one here wanted to live in California? There are a million and one cheaper places in the US. Why would you try to live in the most expensive area possible?

[Anonymous No.24533963]

>>24533484
$1m gives you passive income higher than the median personal income. You can easily quit your job and live better than most Americans.

[Anonymous No.24533970]

Luckily I've never been impressed by money and I do not seek to impress anyone with money.

[Anonymous No.24533993]

>>24531463
>it's all you need to get started
thats the point op is making. at one million dollars...youve only "started"

[Anonymous No.24534004]

>>24532804
isn't that a recipe for disaster?
i've seen the heavy usage private industrial vehicles get put through
in that setting everyone is properly insured, trained and there's less niggers
on a consumer car? repairing your shit has to be crazy

[Anonymous No.24534011]

>>24532612
>but I don't feel rich.
because you arent stupid fuck

[Anonymous No.24534043]

before 1970 a million gets you 25k ounces of gold

the same amount today is around 45 million usd

[Anonymous No.24534073]

>>24533238
>If you can't live the life you want to live off $1 million USD -- 40k a year *baseline* income, doing absolutely nothing -- you're either a total retard or your desires are absurdly overinflated
what is it with all of the boomer minimalists on this board?

[Anonymous No.24534086]

>>24533000
2 houses? a million in San Francisco is half a house

[Anonymous No.24534088]

>>24531404
Million to me might as well be a trillion kek

[Anonymous No.24534105]

>>24533484
eejit

[Anonymous No.24534111]

>>24531404
Yes, it is.
Take a good portion (50-60%) of that and spread across some decent alts - ALGO, FLETA, OM, SAND, SYLO, XTZ - that should set you in good stead for a few years, especially with the staking capabilities of most of these.

With the remaining, buy real estate and weed stocks.

[Anonymous No.24534129]

>>24534073
40k is above average

[Anonymous No.24534251]

>>24534073

>boomer
>minimalist

You've never met a Boomer in your life, have you

[Anonymous No.24534262]

>>24534129
There's more to life than anime, video games, and porn. $40,000 a year doesn't cut it.

[Anonymous No.24534280]

how do you reconcile the fact that BILLIONS of people dont have $400? And also at the same time 1 million USD is not that much? Pretty crazy fucking world we live in

[Anonymous No.24534304]

>>24533000
Why the fuck do you people use California as your reference?

[Anonymous No.24534323]

>>24534262
It cuts it for over half of all Americans.

[Anonymous No.24534431]

>>24531463
This. I'm at around $1.05MM. It's not enough to retire (at least not in a wealthy country) but the passive income is very comfy and I don't really have to worry about living expenses anymore. I buy all the things I want (I'm not a consoomer so it's not much), I have a nice apartment and eat good healthy food. $1MM net worth is very comfy if you don't spend a ton of money. It's almost impossible to not get wealthier over time (and eventually /make it/) with this kind of money if you have a well-diversified portfolio.
Also, you have more investment opportunities available to you when you have some money. You can invest in small private businesses, you can get a mortgage even if you're a NEET etc.

[Anonymous No.24534442]

>>24534431
How is passive income above what the median American makes not enough?

[Anonymous No.24534468]

>>24534262

>muh overpriced bars
>muh party drugs
>muh food
>muh new cars
>muh watches

It's all so tiresome. Everyone knows this is what you high-maintenance normies really blow your money on. I will never understand how the consumerist lifestyle stays interesting for you guys, but more power to you, I guess.

(I don't list travel because travel is relatively cheap these days, and I think it has worth.)

[Anonymous No.24534495]

>>24531463
This. I'm at around $1.05MM. It's not enough to retire (at least not in a wealthy country) but the passive income is very comfy and I don't really have to worry about living expenses anymore. I more or less buy/ have bought all the things I want (I'm not a consoomer so it's not much), I have a nice apartment and I eat good healthy food. I don't need a mansion, expensive cars or first class vacations to be happy.
It's almost impossible to not get wealthier over time (and eventually /make it/) with this kind of money if you have a well-diversified portfolio and aren't a turbo consoomer.
Also, you have more investment opportunities available to you when you have some money. You can invest in small private businesses, you can get a large mortgage (even if you're a NEET), you can "afford" to take some time off from work to try to start a business etc.

[Anonymous No.24534538]

>>24534495
You can't get a mortgage no matter how much money you have if you're a NEET. I tried.

[Anonymous No.24534582]

>>24534495

How do you get your passive income?

[Anonymous No.24534589]

>complaining about having more money than 99% of the world

https://worldpopulationreview.com/country-rankings/median-income-by-country

[Anonymous No.24534603]

>>24534589
>confusing income with wealth

[Anonymous No.24534622]

>>24534603
1,000,000 invested at 4% means $40,000 in annual income, which is more than 99% of the world.

[Anonymous No.24534643]

>>24534538
Start a business, employ yourself

[Anonymous No.24534648]

>>24534442
If you're all in on stocks (which is pretty high risk) then you can probably expect somewhere around 7.5% per year. It obviously depends on your tax rate but lets just assume that's 6% after taxes (20% tax rate). You have to set aside 2.5% to protect your wealth against inflation. Probably another 1.5% if you want to keep up with increasing living standards (real GDP growth) over time.
That leaves you with about $20k/ year if you want to maintain your level of wealth relative to society.

[Anonymous No.24534672]

>>24534648
Stocks return 10% nominally historically. Taxes are 0 as long as you keep your gains within the 12% tax bracket. Real GDP growth goes to the uber rich, not the middle class.

[Anonymous No.24534695]

>>24532694
>want to do NOTHING with their lives.

[Anonymous No.24534715]

>>24534538
>create shell company
>give yourself a "salary"
congrats you are no longer a neet

[Anonymous No.24534735]

>>24534715
>pay taxes for no reason

[Anonymous No.24534751]

>>24534648

Stocks aren't high-risk anymore, at least comparatively. Bonds are FUBAR, real estate historically underperforms the S&P, and inflation goes directly to assets. There are really only three long-term assets to choose from right now: stocks, RE, and BTC. I'd put stocks the least risky medium-term and the second least-risky long-term, after Bitcoin.

As long as the Fed keeps printing, stonk go up.

[Anonymous No.24534769]

>>24534280
>how do you reconcile the fact that BILLIONS of people dont have $400?
They need to git gud

[Anonymous No.24534783]

>>24534735
imagine being this fucking retarded

[Anonymous No.24534794]

>>24534783
You are the retard.

[Anonymous No.24534834]

>>24534538
I'm tecnically not a NEET as I'm enrolled in college (it's free in my country). I haven't taken any exams for the past 2 years though. My advicer literally told me being enrolled in college doesn't matter when it comes to getting a mortgage. All he cared about was my income and assets. He calculated for how long I could like off of my savings (assuming zero income) and added a margin of safety. I was able to get a $300k mortgage on a $500k apartment (60%). He wasn't willing to go any higher than that. I was rejected at another bank.

[Anonymous No.24534893]

If you can't afford to buy a private jet, you are still a slave. They will make it impossible to travel if you don't get the v@xxines. You need a private jet to override that rule, otherwise you still don't have fuck you money. Anything less than 100 million you are still a slave

[Anonymous No.24534901]

>>24534672
Not everyone here is an American. You're posting during euro hours. Good for you if you only pay 12% in taxes. Wish it was me.
Historical returns aren't a great indicator of returns going forward. Among other things, lower productivity growth and lower investment demand have lead to lower expected returns going forward. The implied equity risk premium is the best measure of expected return.

[Anonymous No.24534911]

>>24534794
Just get a job faggot

[Anonymous No.24535009]

>>24534751
Stocks have a high beta (= high expected) return compared to most other asset classes. Bitcoin MIGHT have a higher beta than stocks (that would mean the 'digital gold' meme is wrong though). It's fine to have a few % in crypto, but having most of your net worth in Bitcoin/ crypto is pretty retarded if you're not just gambling with a few $k/ money you easily can get back.

[Anonymous No.24535069]

>>24534769
This

I grew up in the ghetto somewhere in one of the highest per capita crime cities in the US where ironically my parents were considered to have “made it” by having a mortgage that ran 400 a month including taxes.

The worse part about poverty isn’t the living conditions, it’s the human garbage that accumulates in it. Druggies, retards, gang bangers, homeless you name it.

I knew the moment I gained sentience that escaping this hell hole was a priority. Seriously they need to just cordon these places off and napalm them, it’d be the merciful thing to do.

I escaped an hour away last year at 22, finally broke 6 figures this month and hopefully I can break 7 in the next decade so I can move far enough away that it’s safe for me to raise a family, and grow some crops

I hope u all make it someday

[Anonymous No.24535122]

>>24535009

Bitcoin will only "act" as digital gold (slow, steady returns) once it's fully capitalized, which is a long way away. How long, no one knows. Unlike gold, Bitcoin becomes twice as scarce every four years. What's the upper-limit of capitalization for an asset that will be 32 times as rare as gold one day? An asset which will be scarcer, judging by stock-to-flow, than real estate, and gets scarcer in a predictable way?

I'm 100% in BTC. I'll swing trade part of my stack with the four year cycles, but IMO there's no asset on earth that will deliver higher returns over the next 20-30 years. I'll think about diversifying once I have 500k-1 mil.

[Anonymous No.24535135]

>>24534111
Good call anon, don't forget guns, ammo & canned food

[Anonymous No.24535145]

>>24535069

Nice work dude. How'd you do it so fast?

[Anonymous No.24535217]

>>24535009
Imagine even caring about betas like some MPT fag
The most successful investors in terms of CAGR, completey disregard it. It's only after they hit $10 billion+ that they might start using it which is usually the end of their prime
Look at ray dalio, the fucker is only focued on portfolio theory and lowering variance and look where that landed him, not only did he not beat index, his alpha fund is still down over 15% YTD. If you give a shit about betas you are NGMI

[Anonymous No.24535354]

>>24531463
Wow. Haha everyone is FUCKED

[Anonymous No.24535378]

>>24535122
Good for you if you end up being right. I have a lot of money in crypto too but nowhere near all in.
>>24535217
No shit a lot of the biggest outliers have no regard for risk management. It's called survivorship bias. You should care about the average performance of a strategy,, not the top 0.01% of the disbribution. If I go all in on a 100:1 bet at my local casino and win I would have an amazing CAGR but that doesn't mean my strategy was smart, you absolute brainlet.
Ray Dalio has had great historic risk adjusted returns and 1 year isn't a statistically significant indicator of expected return/ how good you are at investing lol.
Idc what you do with your money, I'm not gonna waste (any more) time debating finance with a mouth breather who doesn't believe in betas lol. I'm on a clear path to making it. I have more money than 99.8%+ of people my age in my country. And I didn't make it from gambling on crypto.

[Anonymous No.24535381]

>>24535122
all in too. now with the usdc adoption and everything else coming out in the near future there is probably no point in cashing out ever. just hold some in stablecoins and yield farm with some and hodl the rest.

[Anonymous No.24535421]

>>24533083
By buying the right token, i put 8k usd in crypto three years ago, its now 200k usd

[Anonymous No.24535454]

This is because we live in a clown world
Don’t let all the billionaires and cushy job employees fool you. While $ inflated to hell and back this year and the rich got way richer, the vast majority of people lost so much ducking money and wealth. Already before most people were in debt, now it will be even worse. Sure, having $1mm is like $750k last year, but imagine everyone else getting their wealth reduced by a factor of 4 also.
Next year is going to be very rough

[Anonymous No.24535613]

>>24532786
%10 a year is pretty weak. Even most robo investors can outperform that quarterly.

[Anonymous No.24535637]

>>24535613
No they can't. If your "robot" consistently could return 10%/ quarter over a statistically significant sample then you'd be running a multi billion dollar hedge fund.

[Anonymous No.24535659]

>>24535145
Thanks fren, and mainly just leveling my wage slave

I saw Better Call Saul and modeled my work ethic after that. 10/10 would recommend tv show

A combo of confidence, being opportunist, thinking fast, lying, working hard and doing my absolute best to politic, make acquaintances and move up got me from 8.75 to 34 an hour

Typically I’ll work 90 hour weeks every other week for good measure

Then I take all of my money i don’t use on expenses and put it into stocks that I trade on my corporate phone

This year I had about 50k in savings, out it in the market for 2x to 100k

I’m going to margin that 100 and put everything on Roblox when it comes out n hopefully make some bank

[Anonymous No.24535710]

>>24532786
10% is just keeping up with inflation

[Anonymous No.24535750]

>>24533083
low leverage futures trading, 20x your money if you can do 0.8% per day (very easy)

[Anonymous No.24535791]

>>24533339
$10k liability to realize sub-$5k a year? OOOOOF :(

[Anonymous No.24535812]

>>24534495
Number go up doesn't mean you're beating inflation

[Anonymous No.24535869]

>>24535812
I never said that. Read my other posts, I accounted for inflation.

[Anonymous No.24535951]

>>24533238
You can’t even buy a normal house in Cali with a million, you broke ass nigger.

[Anonymous No.24536005]

>>24531404
I have just realized that I would need at least $3mil to stop wage cucking and live comfortably for the rest of my life...

[Anonymous No.24536449]

>>24535750
> do 0.8% per day
> very easy
lol you're in for a rude awakening

[Anonymous No.24536732]

>>24535710
inflation is not 10% lol, im assuming you meant the market

[Anonymous No.24536791]

>>24531404
You've got about a 6% chance living In the USA to be a millionaire.

[Ultramatic No.24536820]

Hi there, do you know this platform: baseprotocol.org

I asked some crypto experts and they told me toparticipate in it. But wanna know your opinion about their options and solutions for passive income. Is it worthy?

[Anonymous No.24536939]

>>24536791
Jesus those odds are way too high

[Anonymous No.24536949]

>>24536791
Wait a sec so what you’re saying is
>6 out of every 100 people in Detroit is a millionaire

What the fuck am I doing with my life senpai

[Anonymous No.24536976]

>>24531463
>making your first million is the hardest part


Some Art faggot

[Anonymous No.24537001]

Being a millionaire is not that hard if you're not retarded. Obviously we're using the proper definition of net worth here. Having a million USD in the bank is a lot harder.

[Anonymous No.24537103]

Money attracts money.
Turning 100 into 1 million is extreme.
Turning 1 million to 2 million is far easier.

Most average fags on here shouldn't be worrying themselves with which crypto to spend their spare 50-100 on at the end of each month, they are caught up in the "making it" ruse and will ironically make fuck all doing this.
Instead they should be concentrating on getting a job where they can afford to put a 4 figure sum away each month into some investments (Broad term, DYOR). A lot are against being a "wagie" but you wouldn't have to be one for very long if you do this.

[Anonymous No.24537191]

>>24534893
There are only 256,000 uhnw’s

[Anonymous No.24537317]

>>24535659

Jesus. Gotta respect the hustle. I guess a hard-knock environment can create a lot of motivation in the right type of person.

Godspeed buddy. Remember not to neglect Bitcoin!

[Anonymous No.24537321]

>>24537103
>getting a job where they can afford to put a 4 figure sum
what kind of sum are we talking about
1500 usd or 8500usd?

[Anonymous No.24537350]

>>24535951

I thought everyone on this site hated California? Besides, there are more expensive real estate markets than Cali in the world. Why not use them as measuring sticks?

You're just coping for your CONSOOM mentality. You could be happy with $1 mill, but your rat-race brainwashing won't let you.

[Anonymous No.24537370]

Hey, What do you think about this platform: baseprotocol.org

I asked some crypto experts and they told me to join it. But wanna know what do you think about their options and solutions for passive income. Is it a good one?

[Anonymous No.24537798]

>>24537317
Thank u friend I want to buy in but I’m hoping for a dip in the near future first

[Anonymous No.24538175]

>>24537317
>>24537798
I like biz for this content, keeps me motivated seeing there’s other people escaping shitty situation with success too
good luck frens, may we meet in a better world

[Anonymous No.24538205]

>>24533150
>Need at least 2-2.5 million if you want to hardcore consume.
Even if you have 100 million, hardcore consume is retarded. It's worlthless in everyway. And unless you are a psychopath, will only make you depressed.
Nowaday, in my point of view, you can have everything for cheap. A reliable watch cost $10. A reliable phone for $200, computer $500. Car $20000 -$30000 if you buy new. You don't need a swimming pool, that's retarded. Private jet as well. If you are really, really rich, just travel in commercial first class, or rent the private jet, if you really need to.
Being rich, and showing it, is just asking for trouble, and it will affect your mental health.

[Anonymous No.24538265]

>>24531463
>million is enough to start investing and making real money, it's all you need to get started
this is how u spot a poorfag. if u go from 0 to million why would u stop what u are doing and resort to boomer ways?

[Anonymous No.24538470]

>>24533629
if you have only 1m in bank and no tangible assets thats pretty much the same

[Anonymous No.24539150]

>>24534495
just need a 5x and i'm at your level, that's all i want.

[Anonymous No.24539960]

>>24531404
Invest 1 million, pretty easily get 50k a year in return. Go traveling or whatever you actually want to do. You are free. Or keep working and work the jobs you actually want to work, you will always have a safety net if it's invested as boring as possible.

[Anonymous No.24540709]

>>24538205
>You don't need a swimming pool, that's retarded.
what if you like to swim