[ 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: 1.65 MB, 1313x740, 1652392380581.png [View same] [iqdb] [saucenao] [google]
55477349 No.55477349 [Reply] [Original]

500k is life changing money

>> No.55477360

after tax, yes

>> No.55477363
File: 51 KB, 700x700, imgres(21).jpg [View same] [iqdb] [saucenao] [google]
55477363

Begging is against the...
>checks sentence structure
You're good

>> No.55477387
File: 21 KB, 775x1127, 14404.png [View same] [iqdb] [saucenao] [google]
55477387

Yes

>> No.55478125
File: 60 KB, 1024x697, 1685439288545193.jpg [View same] [iqdb] [saucenao] [google]
55478125

>>55477349
Still not enough to stop working

>> No.55478587

>>55477349
I had 550k when LINK was ~55 dollars. I didn't sell because I believed $1000 EOY memes. I regret it every day and now I HATE LINK and FUD it daily.

>> No.55478592

>>55477349
nah

>> No.55478606

>>55478125
It is though for like 2 decades probably 3 or 4

>> No.55478663

It changes your life because you realize how little you can do with it.

>> No.55478688

People who say it isn’t dont realize how hard it is to even get to 100k liquid. I save 1k a paycheck outside retirement accounts which is about 55-60 percent of my net pay after taxes, 401k, insurance.

1k 26 times a year. 500k IS a fuck ton of money

>> No.55478698

I have 4k and ready to an hero 50k would be life changing.

>> No.55478702

>>55478688
I save and invest $8000+ a month after living expenses. $500k is a sizeable amount to me but not life-changing.

>> No.55478771

>>55478702
You have to be in the 200k pay range to be doing that. Maybe higher. Obviously you are not the average. I make about 70k a year

>> No.55478785

>>55478688
It's really not that hard. I had 6 figures before even graduating high school and there were a handful of others in my grade the exact same way. All self made too btw.

>> No.55478805

>>55477349
It's life changing money because it can get you through med school or you can open a shit franchise. A lot of people don't even get a shot at either of those.

>> No.55478845

I have 400k€ (spainfag here) and i live with my mom as a NEET.
I was making money from Adsense doing something I enjoyed and I got demonetized. Now I don't know if I will ever make money again. Im a NEET with no job experience.
It says I can re-apply in 3 months for monetization, however I don't fucking know what to expect. The niche I was working on was so time consuming to even put a video out, a lot of editing. Think of "TheInternetHistorian" that puts few videos a year but somehow the algorithm pushes enough views to go from video to video. Forget about Patreon merch or other shit, only Adsense pays.

So basically now im a NEET with 400k€ (probaby like 370k€ next year after taxes) suicidal in what's another hellhole of a summer. Im putting it on monetary funds which should net me around 600€ after taxes, and I will leave like 20k in an account to spend from there while the funds generate some income while interest rates are attractive, and try to save as much as possible.

Im going to gamble it all on a possible recession and hopefully be able to get on the SP500, or even more agressive, NASDAQ or perhaps even single hype stocks like NVDA or TSLA. I just need a cool 3x and im done. I would put it on a dividend paying SP500 fund and live off that as a NEET. I hate wagecucking and studying. If I did that I would have never had this money to begin with. The thing is I don't see how I can repeat this. I jumped on a niche at the right time and now this niche is problematic to monetize unless you are one of the lucky faggots that gets away with everything.

>> No.55478872

>>55478785
Most high schoolers nowadays habe about 100k saved before even graduating

>> No.55478908

>>55478872
This. At least half of my graduating class had over 50k

>> No.55478933
File: 247 KB, 2048x2048, n119.jpg [View same] [iqdb] [saucenao] [google]
55478933

>>55478702
500k at 30 is great, 500k at 25 is superb, 500k at 20 is fucking madlad terrority, 500k at birth is generational wealth tier.

Compound interest fren, put that shit in the S&P and forget about it for 30-60 years

If you gave your kid 500k when he's born he will have 1M at 10, 2M at 20, 4M at 30, 8M at 40, 16M at 50, 32M at 60, 64M at 70, 128M at 80. And yes these are inflation adjusted figures. Without having to do shit except not touch the money he will have this, no waging necessary , no shitcoin lottery, no gay pozzed tech startup, nothing except time.

>> No.55478950

>>55478872
>>55478908
>>55478785
inner city poorfags
kids from my school were cracking 6 figs pre highschool.

>> No.55478970

>>55478933
>Just don't touch your money until you're 90 years old bro!!
That's a pathetic stance that I don't think is worth taking. I'm guilty of over-saving and under-enjoying but I plan on starting my real life before my 40s.

>> No.55479010

>>55478970
You're not thinking about it the right way.

If you have 500k INVESTED at <30 you can literally not save a dollar your entire life and just YOLO every paycheck on booze and hookers, and STILL be fine in the end as long as you don't touch the nest egg.

The reason why most people making low six figures aren't comfortable is because they're trying to both live and build wealth at the same time, which means you have the choice of having fun with your paycheck or saving it.

If I could blow my whole paycheck every month without worry I'd live like a king. That's what an initial nest egg gets you. Never need to save another dollar, every dollar you make you can spend

>> No.55480033
File: 86 KB, 845x925, frogshoes.jpg [View same] [iqdb] [saucenao] [google]
55480033

>>55477349
>>55478125
i saved your pepes

>> No.55480038

did my post get deleted?

>> No.55480048

>>55480038
yes

>> No.55480074
File: 156 KB, 750x698, 1684555471423675.jpg [View same] [iqdb] [saucenao] [google]
55480074

Is 500K enough to homestead in a rural area until I die?

>> No.55480105

>>55477349
Ya, could be. IRA = Nearly a full time income. Sort of. Or you can buy a home in cash and make your cost of living expenses easy mode too. Not quite retirement money, but would make life easy

>> No.55480108

>>55478702
SWE or lawyer?

>> No.55480110

>>55479010
No, it's because most people making good money are complete retards and splurge it on dumb shit like stupid ass cars and other normie shit

>> No.55480116

>>55480048
:(

>> No.55480178

>>55480074
If you're willing to live off your land, sure, not going to be glamorous, but you can buy 10 acres for $200-300k with a double wide or a shit house in a temperate arable area, 10 acres is enough to easily grow food/fuel for a few people

>> No.55480267

$10 million is life changing.

>> No.55480288

10k is life changing...
someone give me 10k please.

>> No.55480293

>>55477349
Consistent effort and planning for one year is more life changing than 50k, 5 years is more than 500k. I live like a good life on most days because I planned a lot of things that matter in my life already.

>> No.55480617
File: 2.57 MB, 4032x3024, IMG_8661.jpg [View same] [iqdb] [saucenao] [google]
55480617

just no wasting on Jewish consumer products.

>> No.55480927

>>55478587
Based

>> No.55481114

>>55477349
>>55478125
i would invest 350k of that i crypto and live of 20k/25k a year with the rest.
might start a business that has no costs aside from my time.

>> No.55482484

>>55478845
Dame los links a lo que sea que hayas hecho. Vamos tío!

>> No.55482604

>>55478125
I don't understand this. I don't know about you guys living in first world countries but here where I live 500k is a lot of money. Ok, nothing surprising for a thirdie like me but why not invest in real state/energy or something similar that pay dividends every month? Here I can earn between 8% to 12% a year almost without risk. Reinvesting a fraction of that dividend and the magic of compound interest I can live off that easily

>> No.55482623

>>55478845
learn to daytrade emini futures, you can get ~100 dollars every day with 2 or 3 lots, because 1point on sp500 is already 50usd. Once you are good at making this 100usd/day, you multiply the volume thanks to the index being super liquid, and you have 100k very quickly.
the secret to daytrading is killing your greed. 6months of doing only 100usd will help you a lot.

>> No.55482635

>>55480293
Most people cannot plan what they are going to eat even while on the phone to their takeout.

>> No.55482651

>>55477349
Amazing how niggers would just blow the money away in 3 months.

>> No.55482674

>>55482651
I got a question am I a nigger if I lost 50k on crypto?
And didn't spend any of it?
>t. feels like one

>> No.55482894

I have almost 800K and my life hasn't changed...

>> No.55482922

>>55482604
where the fuck are you getting consistent 10%
5% is max and no 25k a year is not enough

>> No.55482942

>>55478587
lol dumbass, ngmi

>> No.55483039

>>55482674
Yes you are a nigger, sorry anon better luck next life

>> No.55483069

>>55483039
Thanks I'll take what I got left and an hero.
Maybe my soul will be white next time.

>> No.55483475

>>55482922
well that sucks then. I got consistent 12% on my last three years here in brazil free of taxes even

>> No.55484035

>>55478785
I retired in grade 9, poorfag

>> No.55484071

>>55478845
just all in bitcoin and relax, you made it.

>> No.55484154

>>55482674
Niggers are the most interested in crypto, with about 20% of the 'groid population having invested in at least one crypto currency.
>Too lazy to find a source rn, google it tho.

>> No.55484190

>>55478688
So you make around 2.5k a paycheck? lol go and become a thief.

>> No.55484219

>>55479010
Here's the thing.
That deposit can and will be taken from you.
>where'd you get the money chud?
>oops bank bankruptcy, non refundable teehee
>hacking sorry sweetie, all funds were lost haha

>> No.55484236

>>55478970
>Just don't touch your money until you're 90 years old bro!!
No one is saying hold onto it all until you're 90. In this example, if they waited until they hit $4M at 30, they could withdraw $160k a year indefinitely. Literally never work again and "make" double the median salary.
You definitely shouldn't take it all to the grave with you, but you also have to be able to have some amount of delayed gratification if you don't want to wage slave for life

>> No.55484249

>>55480074
No because of property taxes.

>> No.55484264

>>55480178
That's a full time job with overtime, nobody wants to be a subsistence farmer that's why everyone moved to the city in the first place, farming is too hard.

>> No.55484272

>>55477349
Depends. It will solve most of your problems in the short term, but once you get it you quickly begin burning through it, and realizing how limited of a sum it actually is

>> No.55484296

>>55483475
That's still risky bud.

>> No.55484676

>>55477349
Yes it is because I can stake it as stablecoins in a yield aggregator like SpoolFi where I can earn 15% APR and above, and with that I don't think I need to work again

>> No.55484715

>>55477349
haha move those boxes wagie dont forget to meet your quota of 500 boxes per hour or you will be talked to

>> No.55484840
File: 80 KB, 680x669, 1686665685613457.jpg [View same] [iqdb] [saucenao] [google]
55484840

1btc is life changing money.

>> No.55484866

>>55478688
100k still feels a bit low but agreed 500k is definitely a fuck ton

>> No.55484934

>>55484840
Really is.

>> No.55484938

>>55484296
it is but not so much

>> No.55485010
File: 22 KB, 512x384, 0% APR no down payment.png [View same] [iqdb] [saucenao] [google]
55485010

>>55477349
yes. depending on where you live, that or even as little as $250k is enough to buy you a house, new car, and insurance for everything you own

>> No.55485070

>>55484071
"Just put your hard earned money in some shitty software that you are not guaranteed to convert into actual money because exchanges randomly block funds going in and out"

BTC is retarded. Not to mention the ETF is a rug. Lol at thinking they will be buying your bags.

>> No.55485082

>>55484866
>>55478688
100k is "I can sleep at night" money, 500k is "I will go to Tokyo and live there for a year, having sex with sluts, purely because I want to" money.

>> No.55485093

>>55484676
Seeing that huge APR on a yield aggregator is impressive because usually, they have good risk management system

>> No.55485172

>>55482623
>just beat the market consistently bro
That sounds like a good way to lose money fast.

>> No.55485259

>>55478125
Yeah but it frees you from having to fear for your job since you have the chance to say "fuck you" and live wherever.

>> No.55485282

You might as well amend that to:
>Owning a house in a decent suburb with enough money leftover to have some savings, investments, and possibly open up a small business
That's what 500k used to get you before the present housing bubble. Now it might get you the house and some savings.

>> No.55485294

>>55478845
>Im putting it on monetary funds which should net me around 600€ after taxes
Wut?

Even putting 200k into normie safe options like annuities or bonds would net you like 8k a year pretax, which is plenty if you have a house already.

My nigga at this point just let /biz/ do your investing for you.

>> No.55485300

>>55478872
>>55478908
Where the fuck you from? Zimbabwean dollars? 50k is like crazy exception where I am and the only reason the two guys that did it was that they got lucky with CSGO skins and WoW gold farming for North Korean money laundering schemes. (Britfag)

>> No.55485335

>>55485070
>Believes in the rationality of the markets not realising that means the market behaves rationally to IRRATIONAL human emotion.

See you in 2024 nigger. I'll still be a poorfag (probably 5 figs even best case scenario if I don't rope) but at least I saw it coming.

>> No.55485826

It would take 21 years to save to 500k and that's saving 100 percent of my income..

>> No.55485947

>>55477349
Until I can buy a pet dolphin and private island, I haven't made it.

>> No.55486131
File: 79 KB, 510x332, 3f7.png [View same] [iqdb] [saucenao] [google]
55486131

>>55484154
>in a recent Pew Research Center survey, 24 percent of Asian adults and 21 percent of Black or Hispanic adults say they have invested in or used a cryptocurrency, compared with just 14 percent of White adults.
>he's right

>> No.55486155

>>55484190
I just checked my last paycheck. It was my smallest one of the year with zero overtime. 2531 gross, 1560 net. I make over 30 an hour. I saved 1k of my net.

>> No.55486169

>>55485300
Obvious liars, probably from India and also probably has leftover poop on their hands

>> No.55486281

If I had 0.5 btc I'd be a very happy frog.

>> No.55486670

>>55486155
The fuck do you do? I'm barely saving 800 goybux UK equivalent and I'm living with parents with a FT job.

I'm literally starting a second remote weekend job to earn more goybux to put into investments because I don't want to wage anymore, even if I have to burn myself out before 2024.

>> No.55486676

>>55486670
*800 saved a month, nevermind a fortnight. I know Americans get paid a lot but jeez. 30/h

>> No.55486721
File: 9 KB, 253x199, images (2).png [View same] [iqdb] [saucenao] [google]
55486721

>>55482674
Stop wailing anon, get your money bag back on the Zealy campaign airdrop and earn in QANX.

>> No.55486770

>>55484154
We were the niggers the whole time weren't we?