[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 61 KB, 616x619, 1663898687210119.jpg [View same] [iqdb] [saucenao] [google]
51601133 No.51601133 [Reply] [Original]

What is the worst financial decision you or a friend has made?

>> No.51601260

Shorted btc at the absolute top and closed out at 63.5k

>> No.51601274

Bought into REITs in like 2010 and then biotech stuff in 2015.

>> No.51601348

buying litecoin; don't listen to the shills; never buy litecoin.

>> No.51601367
File: 2.18 MB, 338x610, 1655635967443.gif [View same] [iqdb] [saucenao] [google]
51601367

>>51601133
a friend of mine fall in love with a chinese-american woman pretending to be ceo in an online crypto-bank business. never met her in person, didnt even talk to her on phone but invested 50.000 USD in her company which promised 30% returns in a month or so.
it was basically his life savings, he is turning 40 next year.

>> No.51601377

>>51601133
I bought a bunch of wood and chains to build a bench swing but I never even started working on it
the wood is just sitting under my house

>> No.51601400

>>51601133
when I was 7 I spent my entire birthday money ($20) on yugioh cards instead of putting it in a savings account like grandma said. Imagine how rich I would be right now.

>> No.51601401

>>51601133
I didn't go all in cardano at 11 cents

>> No.51601441
File: 137 KB, 862x1200, FB_IMG_1663971978162.jpg [View same] [iqdb] [saucenao] [google]
51601441

>>51601133
Took a 20k loan to buy BTC @50k

>> No.51601467

>>51601133
Bought a $1500 Fear of God jacket on a credit card while in university

>> No.51601470

My dad moved us into a rich suburb for >muh schools in the late 90s. The problem is he had a $100k income (in 2021 dollars) and the suburb’s median income was $200k. So we were always the poorest people in any given room. It sucked. But it was worth it for the schools, right? Wrong. Two out of his three kids were fuck-ups and would have done as well anywhere else. I did fine but probably would have done well at a lesser high school and I wouldn’t have had to be poor.

>> No.51601550

>>51601133
>friend somehow got shorted $31,000 over 3 years by the IRS
>got it all as a check
>to his credit, sent some to his dad
>bought a bunch of food, gaming computer, clothes, a bunch of Warhammer shit, pretty reasonable
>bought a used pickup truck and trailer for $6k on Craigslist, this was actually not a bad deal though the truck was falling apart and he had to rebuild the tranny, get all new tires, etc for another ~$3k within a few weeks, still all things considered value purchase

>went to the Honda dealership, spent $16500 on a new Harley
>wasn't happy with it, tried to sell it back for $14k, they refused
>ended up trading it for a couple thousand cash and a used bike worth like $8k
>sold that a few weeks later for $5k, immediately spent $3k on another used bike that was heavily customized and missing several parts
>had to rebuild the engine on it, ended up trading it for another bike of equal value
He got a few thousand back out of the deal and still has a bike but wasted most of the $16.5k lol, the entire 31k was gone within 3 weeks

>> No.51601568

Previous coworker used to buy cheap monitors and touch screen kits from ali baba, pay them to preinstall and sell them. Was making like 20k/month so he upped production riiiiight before covid hit and no one wanted touch anything. Now he's paying them for storage plus normal overhead

>> No.51601576

>>51601550
this is why more money wont fix your (most people) problems

>> No.51601585
File: 16 KB, 792x728, apudola.png [View same] [iqdb] [saucenao] [google]
51601585

>>51601133
Going to college

>> No.51601610
File: 77 KB, 156x249, 1557283638855.png [View same] [iqdb] [saucenao] [google]
51601610

>>51601133
bought 1 share of AMZN at 2500, when ETH was at 200. debated between the two. im so fucking dumb

>> No.51601633

>>51601348
I only use litecoin to cashout, or flip to XMR

>> No.51601656
File: 50 KB, 792x600, fuck I hate poor people.png [View same] [iqdb] [saucenao] [google]
51601656

>>51601550
Giving money to poorfags is like giving a book to a monkey. Eventually it'll be in the ground or covered in shit.

Poor "people" are the worst.

>> No.51601694

>>51601133
Using yearn’s vaults in 2021

>> No.51601791

I've kept my record pretty clean, but my family's taken some L's

>Mother took advantage of a shitty offer our government made to let people take out their superannuation [May not be named the same thing in your country, basically retirement savings] during the coof to 'keep themselves afloat' - She blew all of it on 'some home DIY' where she destroyed half the house and gave loans to our crackhead family members 'They promised to pay back' - She will basically retire with nothing now.
>I've mentioned this one a few times. My sister took out a 10K payday/quick loan to buy gifts and to go on a trip with her boyfriend who then ghosted her.
>Dad didn't sell his house at the top.

>> No.51601804

>>51601133
Not taking profits at the peak of the last bull run. I would've been way comfier than I am now.

>> No.51601817

>>51601260
That doesn't sound too bad unless you went heavy on the leverage.

>> No.51601829

>>51601367
This has to be a larp. Never simp anons

>> No.51601832

>>51601610
nice

>> No.51601846

>>51601377
Currently building a mech keeb that I bought the parts for 2 yrs ago.

>> No.51601890

>>51601585
Same. I would've been better off waging and investing instead.

>> No.51601919

>>51601791
Not surprised. Most women have no financial sense.

>> No.51601966

>>51601470
This is not emphasized enough. Nowadays with soci@l media every income bracket is blasted with photos of the lives of the top 1%. It's not healthy to always have to be bombarded with how much less you have compared to others.
>tl;dr find a pond where you can be one of the bigger fish

>> No.51602006

>>51601133
Giving up on bitcoin in 2013 when I couldn't get GUIminer to run on my shitty laptop.

>> No.51602050

>>51601966
I really think it fucked me up anon. And it was doing so long before social media. You go to people’s houses that are way nicer than yours. They drive better cars. They go on more and better vacations. They wear better clothes. They do cooler things. I ask my parents for some of them and they say we can’t afford it. It was hard not to feel inferior sometimes. If we had been in a less rich city (say, the 10th best school system in the state instead of the second), we would have had more spending money and been surrounded by less affluent people, and probably still would have gotten a fine education.

>> No.51602110

>>51602006
I had the bitcoin miner installed and running for a few minutes in mid 2009 but stopped because I had a shittly built iBuyPowerPC I was worried would fail under load. I wanted to own 1% of the BTC supply but the fucking thought of my PC failing fud'ed me out of mining that 1%.

>> No.51602152

>>51602110
If it's any consolation, you probably would have sold it all for a few thousand when the price got that high.

>> No.51602191

>>51602152
You are right but this still giga hurts.
Fuck iBuyPower, always build your own PC.
Multi-billion dollar mistake.

>> No.51602195

>>51602110
How are you still alive

>> No.51602215

>>51602195
I try not to think about it.
It has become much harder as I have become older and realize I am probably going to have to wage slave forever.

>> No.51602237

Years back, I flipped a condo that I should've just kept to live in. Rent is $700 per month more than what I spent all in for the little mortgage, taxes, condo dues, and utilities.

>> No.51602251

>>51602215
ICP fren ICP

>> No.51602295

Listened to Motley Fool, Seeking Alpha and Zacks. Evey stock recommendation basically went down and I lost about 3000 in total.

Fuck those sites.

>> No.51602296
File: 71 KB, 1024x958, CEOofBased.jpg [View same] [iqdb] [saucenao] [google]
51602296

Getting a gf.

>> No.51602445

my worst financial decision was buying hbar before it tanked, but thankfully i sold last year and bought Matic instead that's paving the way for mainstream adoption by partnering with the biggest companies in the world

>> No.51602474

Market bought 12k USD of XRP at 1,30$ instead of DCAing and never sold. (At least we're pumping now)

>> No.51602521

>mom
>have a pension for working with the government
>she is a top earner in my country, around 5k USD each month since she was 55(70 now)
>doesn't have anything at her name, we live at my grandma house in a high crime neighborhood
>balls deep in debt, all wasted in a commie political party across the years
Now she needs 20k USD+ to repaid some party members whatever that means.

Lately I have thinking about leaving. I don't see how I can straighten this mess, by my calculations her total debt is around 200k USD in a country where the minimum wage is 450 usd which is what she currently receive after the debts deductions.

>> No.51602558

Had 3k$ in FTM in late 2019 and sold at a loss before the bull run

>> No.51602565

>>51601829
my mom was a bank teller at a credit union for 10 years. she told me stories of numerous 40+ year old single men doing similar shit. also a low IQ but not legally retarded person who gave money to "YES SIR I AM CALLED AS BILL GATES PLEASE KINDLY DO THE NEEDFUL AND SEND MONEY ORDER" tier indian scammers. no one had power of attorney of this person (can't remember if it was a man or woman) so the credit union manager would have to STRONGLY ADVISE against this obvious scam but in the end had to allow it... numerous times.

>> No.51602636

Got scammed by a Russian girl on a dating site for about $1200.

>> No.51602640

>>51602050
It probably gave you the burning ambition that led you here though.

>> No.51602687

>>51601133
I haven’t made a Single bad financial decision

>> No.51602761

>>51602640
Not sure if that’s a positive thing, but you’re right. For years I wanted to be one of the people that lived in that suburb and also had lots of disposable income and a wife that didn’t work. I don’t want that anymore, though I still want to be rich.

>> No.51604199

>>51601441
Ouch

>> No.51604208

>>51601133
Getting a PhD from the best school in the world, but for a useless discipline

>> No.51604412

>>51602687
same

>> No.51604424
File: 180 KB, 1080x1311, C84AD7D0-8479-4DB5-9602-275E2A90D94E.jpg [View same] [iqdb] [saucenao] [google]
51604424

>>51601133
Falling in love.

>> No.51604436

I sold 15 eth at 1650 and got priced out during last bullrun

>> No.51604563

>>51601133
Paid off my vehicle loan.
Shit was 2%. I should have opened a brokerage account instead. Now I'm trading in my IRA and have to pay a penalty to pull cash.

>> No.51604583

>>51601133
Opening a Schwab brokerage account and Roth IRA.

>> No.51604630

>>51601133
poo in the loo bought a new mustang GT in his early 20s making like 20$ an hour AT BEST. have fun paying that off for the next decade

>> No.51604638

>>51604208
details?

>> No.51604649

>>51601133
Letting taxes influence my decision to hold.

>> No.51605316
File: 685 KB, 629x802, 1654757507631.png [View same] [iqdb] [saucenao] [google]
51605316

I almost became a white nationalist. I later wised up and became a WMAF Eurasianist. The best financial decision I ever made was investing in an Asian wife.

>> No.51605356

>>51601550
what a dipshit retard

AKA thanks for stimulating the economy goy

>> No.51605744

>>51601585
dont get stupid degrees.

>> No.51606375

>>51604638
I spent six years of my life getting a humanities PhD from that college in Cambridge, MA that has a yard. I'm now a software engineer. It has done literally nothing but make people defensive; I now actively hide it up until the last possible moment, like it's some sort of venereal disease or generational crime.

>> No.51606631

>>51602636
>girl

>> No.51606729
File: 1000 B, 200x200, images (1).png [View same] [iqdb] [saucenao] [google]
51606729

Fringe finance. Even the ceo dumped that piece of shit

>> No.51606745

>>51602050

Boo hoo. My dad abandoned me and my mom made 18,000 a year in 1984. I went to an all-black inner city school until I was 18, and the quality of education stunted my economic trajectory for the rest of my life. I am 40 now and barely make six figures. I hope my kids aren't spoiled little shits like you.

>> No.51606759

>>51601829
thats not simping thats literally just sending money to an asian or indian dude with the promise of "im gonna send u back double lol"

>> No.51606770

>>51602636
>sending money to strangers, ever

i feel no pitty for you

>> No.51606827

>>51602296
I feel ya