/biz/ - Business & Finance

[Anonymous No.28276321]

I work with a bunch of young IT consultants at my job and most of them are literally terrifed of the stock market or have like maybe $5k in savings. What i wrong with normies

[Anonymous No.28276491]

>>28276321
most people are terrified of money because they've been fucked by lack of it at one point or another (that or had crazy shit ideas about it drilled into their head by their parents) so they just don't think about it and get in cagie

[Anonymous No.28276595]

>>28276321
>stock market
you are the normie

[Anonymous No.28276747]

>>28276321
they work really hard for their money and they are scared to see that work go to waste

[Anonymous No.28276832]

>>28276595
I'm literally all in crypto you retarded faggot. I was making a point

[Anonymous No.28276852]

>>28276321
Because most people are financially illiterate

[Anonymous No.28277006]

>>28276747
This. They know they don't understand the game and that the risks of playing are large, so they choose not to play.
Ironically the normie that refuses to take that risk is probably more financially capable than the significant number of retards that go balls deep and get burned on a daily basis.

[Anonymous No.28277090]

>>28276321
They're based & having fun + sex at weekends, you're unbased.

[Anonymous No.28277169]

>>28277090
I rather have my 400k than that imo

[Anonymous No.28277249]

>>28277169
You'd rather have a measly 400k than have fun in your short time on earth?

[Anonymous No.28277321]

Parents are retards, public school is run by retards, college is for even greater retards.... geee why are people retards?

[Anonymous No.28277395]

>>28276321
Ironically, normie friend and I were discussing this during the GME thing. She is one of 3 people I know that are familiar with stocks because their families showed them how they work. She explained most people don’t want to deal with it because they’ve been lied to and told it’s extremely complicated and/or you can only do it if you’re rich

[Anonymous No.28277412]

>>28276321
Seen too many crashes so it scares me to lose it.

I also don't understand how to withdraw it or use it when I need to without losing most of it to taxes.

[Anonymous No.28277417]

>>28276321
most schools don't teach financial education at all
if you're lucky they'll teach you about taxes and budgeting but that shit won't make you rich

I fucking wish my school replaced those retarded religious classes with a financial class that was nothing but 'put some money into the s&p 500' repeated over and over, that would have served me way better than some fairy tale garbage

[Anonymous No.28277495]

neets can invest risk free, whereas the wagie toils long hours and refuses to invest. neets get rich. wagie seethes. anyone else noticed this? my wagie friends hate me for buying eth sub $500

[Anonymous No.28277515]

>>28276832
>I'm literally all in crypto you retarded faggot.
then why are you shilling the stock market to younger people fag? shill them crypto you boomerfag!

[Anonymous No.28277538]

>>28277249
this is fun.
i fucking love gambling. my brain is so fucking burnt out i only feel alive from extreme sensory experiences. sex. drugs. gambling. big cooms. big highs. big gains.
normies can eat my ass.

[Anonymous No.28277545]

i work in an IT office and of the 100-200 people literally dozens are heavily invested in crypto, and a similar amount on stonks

[Anonymous No.28277577]

>>28277395
>takes 2 mins to sign up for robinhood
>takes 30 seconds to see a frogposter telling you exactly what stock to buy
normies have no idea...

[Anonymous No.28277591]

>>28277412
the dotcom bubble, housing crisis and the covid crash are basically small potatoes
even if you bought the top of each crash you'd still be better off that leaving that money in the bank

[Anonymous No.28277607]

>>28277006
Keep telling yourself that, tourist
Maybe someday you'll be a SHIBACHAD like me

[Anonymous No.28277728]

>>28276321
What scares me are doing the taxes associated with trading and cashing out stocks (not to mention crypto). Besides that I have my roth/401K, and I'm only investing what I am in theory ok with losing. I still have enough liquidity to survive day to day and minimal debt.

[Anonymous No.28277824]

Hi there, long time normie first time caller.

I've just started learning about stocks when the whole gme thing started in normieverse. I realized that I have a lot to learn, and in 3 weeks I feel good in the foundational knowledge I've accumulated by lurking here and cross referencing to investopedia. I've thrown $200 @ 50 into gme as my first investment just to see where it takes me.

I want to learn more and learn to grow my money. Can yall recommend books or podcasts to build my knowledge?

> inb4 Rich Dad Poor Dad
> Tfw my dad was day trading when I was young and I never cared enough to let him teach me anything about the markets

[Anonymous No.28277897]

>>28276832
>I was making a point
Badly.

[Anonymous No.28277932]

>>28276832
You're all in on crypto but you think it's weird that people are (rightfully so) afraid of the extremely manipulated stock market? On a scale of 1 to 10, how retarded do you think you are? Higher. Nope. Still not quite there. Up. Higher. Yep, that's right. A solid 17.
Nigger

[Anonymous No.28277937]

>>28277728
Just pay someone else to do them, that's what money is for.

[Anonymous No.28277952]

>>28277538
Same. Feels so good when your penny stock goes up 20% in a day

[Anonymous No.28278231]

>>28277897
>>28277932
Absolute seething retards for taking a post on a mongolian basket weaving forum out of context. Jesus christ

[Anonymous No.28278399]

>>28276491
I spent 3 years wage slaving before I invested a dollar. I wanted to have a 1 year safetynet in case I lost my job, I lived in fear of being fired and having to go back home. Lost the fear after I quit my job and spent it all traveling and made it all back.

[Anonymous No.28278408]

>>28278231
No, nigger, you're the retard. I get what you're trying to say, but the stock market and the crypto market is a totally different thing. Your point is that they're afraid of 'easy money' but everyone that buys stock is a literal inbred retard. There are no winners there, only the goys. Explain them what crypto is and how it's not as manipulated and how they can get rich from it and also tell them to stay away from stocks, anon.

[Anonymous No.28278502]

>>28276832
it's a terrible point. "young IT consultants" are not the average normalfag, they have significantly lower testosterone levels than normal which implies less risk-taking
you sound like you unironically live in california or new york

[Anonymous No.28278562]

>>28278408
dunno anon you can literally just buy microstrategy stock immediately after every bitcoin pump and make insane profit. its literally acting as an indicator for bitcoin since saylor bought in

[Anonymous No.28278604]

>>28276321
Meanwhile I just threw 20k between Pancake and Bunny tokens

[Anonymous No.28278712]

Maybe they don't want to talk about their assets and plans with the designated local sperglord.

[Anonymous No.28278734]

>>28277417
School is slave training. Does anyone else have ptsd from bells? Even someone ringing my doorbell stresses me out.

[Anonymous No.28278870]

>>28278734
no but i had nightmares about uni deadlines for at least 3 years after i left. it really was a terrible time

[Anonymous No.28278938]

>>28276321
everything in society is, by design, build to stop people from achieving freedom, how else would society work without a slavecaste?

do you not remember the first time you invested, the first loss calculating how many months you have to be in the cage to dig yourself out of the hole
and the fear that the taxman would come and fuck me over, because nobody ever told me how to do my taxes, this turned out pretty well as it thought me that the taxman is really incompetent and doesn't give a fuck if you try to pay something
those were the two things that stand out from my own experiences, how bad do you think the fear for normies must be

without the internet to guide us, most of us would completely unhinged you do realize this
we would be smart enough to see the world was a lie, but without the information stream of eachother we would go mad trying to figure it out on our own
i really do wonder how autists survived in this world prior to the nineties

[Anonymous No.28278947]

>>28278712
>assets and plans
these kids are lucky to have cucksheds

[Anonymous No.28279013]

I love investing in stocks and crypto
They're both comfy for me

[Anonymous No.28279608]

>>28276321
People listen to boomer advice. They buy one share in apple and expect to get rich. When they are down 2% they sell. they don't understand that if you want to make money you have go all in in a handful of stocks. aka the opposite of boomer advice, invest a lot and do not diversify

[Anonymous No.28279678]

Do you trade on BAEX binary assets(#baex)? I found their system with Microsoft indexes, price is rising fast, and it is easy to get benefits. All IT sphere is developing fast, so I think Apple, Microsoft, and Amazon share can be rather profitable. What do you think about it?

[Anonymous No.28280329]

>>28276491
Two mindsets, one of abundance, the other of scarcity.
Most people have the latter, and perpetuate it to everyone. They make laws/regulations that further make their world view reality.

[Anonymous No.28280433]

>>28277395
They have made it so easy to join now and understand it. Makes sense why they would trick people tho, my parents pay a fa something like 5% each year to manage their finances...dude only rings in like 10% gains. They could fucking throw it some etfs and save the time.

[Anonymous No.28280493]

>>28277417
IT would be a lot of fun actually, having a class that teaches you to invest by using those faux trading sites that give you 500k of fake money or whatever to play with.

[Anonymous No.28280558]

>>28277937
Taxes are the only thing ill pay someone to do, best not get fucked because you misses a digit on your form.

[Anonymous No.28280643]

>>28278408
>crypto not manipulated
Go read Game of Deception. The whole market is controlled by whales to some degree

[Anonymous No.28280675]

>>28277495
And still they refuse to buy. You can't help them anon.>>28277515

[Anonymous No.28281025]

>>28276321
I wasn't in the stock market or crypto until late last year but I'm also an ultra poorfag. Trying to claw my way up now. Gas fees hurt my soul.

[Anonymous No.28281170]

>>28276491
as anon said many people do not even understand money and how it works

the young generation constantly cry how hard it is to earn money and much evil capitalism even though it was never more easy to get rich

[Anonymous No.28281710]

>>28281170
I think it also depends on someone’s definition of “rich”. The trend I’ve at least seen is that poorfucks like myself look at something like $40k/year and think “holy shit I could turn my life around with that money” while most people I know think $60–$100k/year is too low and $500k+ is life changing money.
I wouldn’t know what to do with that much money lol

[Anonymous No.28281776]

>>28281710
$500k isn't even enough for a normal 3 bed house...

[Anonymous No.28281903]

>>28277090
Putting your savings into a portfolio of promising stocks and some good funds take a day, you can check it once a month.

[Anonymous No.28282167]

> boomer parents that only ever buy stock of the companies they worked for (so exactly one company)
> strong believe that this stock they buy exists within a fixed corridor
> "look it only costs 70€ now, it always goes back to 100€"
> never look into any fundamentals (let alone how the stock market works or crypto)
> get burned once
> "My son, the stock market is evil"

[Anonymous No.28282213]

>>28281710
It really just depends on your mind set, someone with 40k could turn that into 400k with some smart investing. Than that 400k into 4mil.
I guess when your used to living like a poorfag, the idea of having so little does not phase you. You just think "How can I turn this into something bigger"

[Anonymous No.28282970]

>>28277538

>big cooms
>big highs
>big gains


Based

[Anonymous No.28283024]

Normies don't play to win. They play to not lose.

[Anonymous No.28283082]

>>28276832

[Anonymous No.28283092]

>>28276491
>most people are terrified of money because they've been fucked by lack of it at one point or another
Lol I been poor in my childhood and I LOVE money,
I don’t keep more than 2k in my bank account. The rest goes in stocks and crypto
I think the reason they don’t have money is because they are addicted to cooonsooming.
They see money as something to buy “experience” and “things” with.
I see it as something to buy “time” and ultimately “freedom” with.

[Anonymous No.28283152]

>>28278562
>Game of Deception.
This.
Made 3 k in the last 9 days.

[Anonymous No.28283239]

>>28277824
Learn to fuck off

[Anonymous No.28283266]

>>28281776
Fuck off anon.
I live in Cali and you can find houses like that 30 minutes outside of LA.

[Anonymous No.28283277]

>>28276321
Nothing, you are just a degenerate gambler

[Anonymous No.28283361]

>>28277249
Does it matter anon?
I rather live in peace and be relaxed and comfy with my 400k that keep growing, than be a normal fag and party and STILL be worried and stressed about money

[Anonymous No.28284379]

>>28277417
To be fair, the existence of stock markets is not exactly secret knowledge and schools don't teach useful stuff at all, right? Also I remember having economy classes that absolutely did teach about financial markets and the basic context.
Does not take a lot to come to the conclusion investing in stock markets might be a smart financial decision.

>>28283092
>I don’t keep more than 2k in my bank account.
Imagine not being able to afford a plane ticket or new car in an emergency without liquidating your assets. Also no opportunity to buy the dip.
Couldn't sleep well without having at least 20k in cash/checkings at all times.

[Anonymous No.28285023]

>>28284379
>imagine putting your money in an institution that LITERALLY is as worthless for your economically as putting your cash in your pillow
Cashing out is super easy anon.
And why should I buy a plane ticket? Or a new car?
If I need to do something, I plan ahead and act accordingly
Other than that, I rather invest it, instead of letting jews use it to give loans to people.
Anon I been buying deep all week, you know $ogi? I bought 20k worth of that on FEB 1.

[Anonymous No.28285400]

>>28284379
>Imagine not being able to afford a plane ticket or new car in an emergency without liquidating your assets. Also no opportunity to buy the dip.
Crypto collateralized loans with 1% APR

[Anonymous No.28285764]

>>28285023
>>28285400
I get it and I generally agree with minimizing exposure to inflation and I'm also balls deep in.
I just think it's foolish to only have 2k to your name and relying on being able to cashiout your shitcoins or meme stocks if shit hits the fan.
How did you buy 20k of $ogi with only 2k in your bank account?

[Anonymous No.28286206]

>>28285764
>How did you buy 20k of $ogi with only 2k in your bank account?
Anon, my WHOLE money is in trading portfolios.
Read charts, buy, wait, trade, rinse and repeat.
I treat my portfolio like a bank.

[Anonymous No.28286241]

I have a tip for you
don’t go for this scam that they try to discuss on this thread
if you want to use good services and bots for trading you must check Bot Ocean
Thank me after, boi

[Anonymous No.28286533]

>>28286206
So you still hold some of your money in USD or your local liquid currency. Your trading portfolio is essentially a bank account (in case it's not some scammy online casino) and you can access your funds anytime in hours at most. Thats perfectly fine. My comment was more to people who put all but 2k of their belongings into dogecoin at the top.

[Anonymous No.28286778]

>>28284379
Why not just put it in aave?

[Anonymous No.28287059]

In my case I am grown up in a household where finance was not taught, both parents horrible with money, also, this shit is not taught in school either. I am a young man who just recently got my shit together and started saving. I look at my peers and they either don't believe in the system and are happy being cucked by it or they haven't grown up to face the hard reality yet.

[Anonymous No.28287874]

>>28276321
I suspect stocks & crypto are a huge brain drain for tech and only becoming more so. My buddies on the way out got into day trading on the market low. When they retire soon, well they won’t be at work. All the smartest got into crypto and retired as well. Myself, I’m waiting for my bags to mature enough to be international, but I hardly need to work.

That means the only tech people left are risk averse retards and women, but I repeat myself.

[Anonymous No.28288821]

>>28283024
Holy shit, this is the most based and accurate sentence I've read on this board.

[Anonymous No.28288822]

>>28286533
Oh no that’s retarded.
No one should do that