/biz/ - Business & Finance

[Anonymous No.52987516]

If you're in your 20s 1 million is all you need to make it. You don't need to own property or buy a mansion, that's just being greedy. Not needing to work is already a gift.

[Anonymous No.52987534]

>>52987516

If you have 1 mil by 30 you don’t need to save another dollar your entire life and can still retire by 55. At 7% interest it will be 2 mil by 40, 4 mil by 50, 6 mil by 55. You can blow 100% of your paycheck on dumb shit from 30-55 and still have plenty to retire if you got 1 mil at 30

[Anonymous No.52987541]

>>52987516
Anon finally gets it. 1 million rn at least in the US means a safe 40k a year inflation adjusted that you have to pay 0 taxes on. After that you can do literally anything you want for extra money or just enjoy life

[Anonymous No.52987559]

the days of the stock market going up indefinitely are literally OVER. there will never be such a prosperous time in our lives

[Anonymous No.52987579]

OPs neighborhood
https://www.youtube.com/watch?v=4stTmb4pT3w

[Anonymous No.52987593]

>>52987516
>>52987534
>>52987541

No dumbass the problem is once you get a million you want more.

[Anonymous No.52987597]

>>52987559

Buy signal

[Anonymous No.52987616]

>>52987516
>You don't need to own property
I see where you're coming from, but I'd rather buy a 1-2BR/1BA house than be a rentoid for the rest of my life. $1 million after paying for the home in full- that's enough to make it.

[Anonymous No.52987641]

>>52987616
>$1 million after paying for the home in full- that's enough to make it.
my house is paid off and my folio peaked at 1.4mil in 2021. I wanted more so i didnt sell and now im around 300k or something. Was I too greedy?

[Anonymous No.52987685]

>>52987641
You were too greedy. Especially if you just planned on supporting yourself

[Anonymous No.52987704]

>>52987685
I live in an expensive area and have wife and kids. Obviously in hindsight 700k-1mil after tax would be amazing right now. But what if I had sold and missed the shot at 2 more million?

[Anonymous No.52987719]

>>52987704
>wife and kids
In that case you're right to hold for another million. You should be able to time the top better next time

[Anonymous No.52987722]

>>52987641
Too risky. If you'd been diversified with that 1.4M you'd be down to maybe 1.1M or 1.0M today

[Anonymous No.52987731]

>>52987516
If you want to live modestly then you don't even need 1 mil.
There are income ETFs that pay around 10-15% in annual dividends. 500k = at least 50k a year.

[Anonymous No.52987744]

>>52987597
Sell signal

[Anonymous No.52987750]

>>52987516
>You don't need to own property
How many copies of the Talmud do you own?

[Anonymous No.52987924]

You can't guarantee you won't need to work in the future without free and clear property, tho, at least without significantly more than $1m goybucks

[Anonymous No.52987940]

>You don't need to own property or buy a mansion, that's just being greedy.
I've seen studio apartments for $700 a month. Now granted, these are not in good locations, but it's about the cheapest, non-committal personal shelter you can get. Even cheaper if you share it with a roommate/GF. Anyways, 700 times 12 = 8400. $8400 a year. Probably round up to $10,000 if you include utilities, more or less. $10,000 a year just for fucking shelter, man.

If I were a millionaire, I'd spend that in a heartbeat, but I'm not a millionaire so I'd rather keep that $10,000 a year living with my parents.

[Anonymous No.52987951]

>>52987534
>Reliable 7% interest for 40 years

[Anonymous No.52987967]

>>52987534
why do people always say this

can someone teach me how to get 7% interest every year? my 401k is down 20% this year. so if i had a million would it be up 7%?

[Anonymous No.52988002]

>>52987967
As I understand it, It's an historical average of the annual return of the stock market. You would tap into it by buying shares of a whole market index or something comparable (S&P 500), bearing in mind that, as an average, it's not going to be constant 7% every year. Some years it'll go down, some years it'll go up way more. Also, the whole "past performance does not predict future returns" disclaimer.

[Anonymous No.52988013]

>>52988002
yeah, so if i was a neet with 1 million, i would have made -200k (negative 200k) in 2022

[Anonymous No.52988015]

>>52987516
Every man has to work otherwise you'll self destruct.

[Anonymous No.52988020]

>>52987516
I need a mansion. I cant stand being in my small room.

[Anonymous No.52988027]

>>52987967
If it’s down 20% this year then it’s probably up 50% the last 2-3 years, but you won’t talk about that part will you buttcoin collector?

[Anonymous No.52988044]

>>52988027
ok so i just have to wait 2-3 years and make 50%. this is easy, why do i need 1 million to do this? is it a millionaire only trick?

[Anonymous No.52988046]

>>52988015
working on shit he doesn’t care about will cause a man to self-destruct too

[Anonymous No.52988209]

>>52988013
Yeah, give or take any divvies. Personally, I prefer to invest in divvy stocks over general market because the cash flow still comes in to support my expenses and the market price of the shares means literally nothing since I don't need to sell any.

[Anonymous No.52988219]

>>52988046
Of course, you have to enjoy your work but you have to do something productive, it's healthy and in our nature. I'm just a wagecuck that works in mining but I love my job.

[Anonymous No.52989048]

>>52987516
You are a lying jew.
I made it to 10 millions and still can't get a girlfriend.
You need at least 30 millions to make it now.

[Anonymous No.52989182]

>>52987559
>>52987559
This is dead ass wrong. The stock market with thrive, but the overall economy will tank. Normies do not have what it takes to play stocks. It's right in front of their faces and they still find it to be some far off obscure thing.

As long as the market fluctates there will still be a richer half of society that benefits of trade disparities.

[Sigma No.52989218]

>>52988044
Leave it to an utter retard to not understand how a historical average works. Kill yourself you inbred idiot

[Anonymous No.52989239]

>>52988002
>It's an historical average of the annual return of the stock market


Do you also drive looking in the rearview mirror?

[Sigma No.52989266]

>>52989239
God damn you are so stupid it hurts. I suspect you have an actual learning disability or you’re underaged.

Do you know who Jack Bogle is? I bet you don’t and you’re on a finance board lmao. Oh let me guess he’s a grifter con artist and vanguard is apart of the globohomo

[Anonymous No.52989275]

>>52989266
Dude you arent fooling anybody you dimwitt loser faggot

This bord needs flags so i can ignore shit covered faggots like you

[Anonymous No.52989309]

>>52987641
>Was I too greedy?

No, you just don't know how to trade or invest.

A lot of people have made a LOT more than muh heckin 1 million. You weren't "too greedy" you were presumably just stupid/inexperienced/passive/deluded/etc - all faults I've suffered from myself in this game.

>>52987722
>If you'd been diversified with that 1.4M you'd be down to maybe 1.1M or 1.0M today

Diversified into what exactly, anon. If he'd have "diversified" into gold at the top, then yes. But we just call that a trade.

-------

What you guys aren't realising is that this is a game against yourself, against your own stupid fucking emotions and retarded brain. You will never tire of trying to master those things and so you will never just stop at [whatever your last ATH was but next time when it hits that for real]. That's not how life works.

Accept it, embrace it, and make plans for it so that you're not just repeatedly getting bounced around by the market and not understanding why.

[Anonymous No.52989311]

>>52987593
That's if you are undisciplined.

[Anonymous No.52989983]

>>52987516
I'm in my 20s and aiming one million dollars by investing in crypto. I'm hoping I can make it by holding xpress, rose, arpa, vet, and matic. Oh Jesus, the market might be better the next year.

[Anonymous No.52990096]

>>52989309
Don't you worry.

[Anonymous No.52990135]

>>52989983
Anon is diversifying

[Anonymous No.52990182]

>>52990135
The best method to increase revenue is always to diversify. I don't want to put myself in a position where I could easily lose. Consider the long term folks.

[Anonymous No.52990630]

>>52989048
Ser, are you okay?