/biz/ - Business & Finance

[Anonymous No.55808784]

I make 55k after taxes (79k salary) and that goes to 40k after a years rent, how the FUCK do average people invest? I need to make it from crypto or start a business to have a chance to even consider investing in index funds.

[Anonymous No.55808849]

>>55808784
>how the FUCK do average people invest
DCA

[Anonymous No.55808890]

>>55808784
>I make 55k after taxes (79k salary) and that goes to 40k after a years rent,
You shouldn't pay your taxes

>how the FUCK do average people invest?
They don't

>I need to make it from crypto
You can't. Crypto's 20x growth is over. It's 10x at most.

>or start a business
Business is literally gambling, 80% of new business fails

>to have a chance to even consider investing in index funds.
You may have better luck investing in real estate.

[Anonymous No.55808898]

>>55808784
max out your roth and company match. Put the rest in high risk high reward investments. You could be sitting at 2-3x gains this year if you bought a number of tech companies or leveraged etfs

[Anonymous No.55808914]

I've finished my tunnel under your house.
Mind giving me that wifi password roommate?

[Anonymous No.55808926]

>>55808890
shut the fuck up kaspa literally did a 50x, unibot literally did a 1000x
smelly dumb demo poster

[Anonymous No.55808941]

>>55808926
Did you sell your house and buy kyspa scam ? Just be honest, you're only investing at most $1000 to shitcoin like that.

[Anonymous No.55808951]

live with your mum and dad or something, so you dont have to pay rent, but if youre unlucky enough to have had to move away for work you're kinda fucked

[Anonymous No.55809008]

>>55808784
Move to a state with no income tax and you'll have a few hundred extra dollars every month. Or move to New Hampshire where there's no income or sales tax and you'll save even more.

[Anonymous No.55809017]

My gross is 70k a year
Net is 44.5k after 401k and medical and pension
After rent and insurance I’m down to 30k.
Frugal living I’m down to 24k.
I invest 1k a check in taxable brokerage. I will be a slave for a long time. I keep thinking, in 2-3 years when I have over 100k saved I will be solid

[Anonymous No.55809020]

>>55808784
Make a higher salary, 5 figures is poverty tier these days

[Mike No.55809026]

Maybe you can buy my upcoming project, it may take a while, but you can follow Twitter search @MousemouseETH

[Anonymous No.55809027]

>>55808784

You're doing fine.

[Anonymous No.55809029]

>>55809017
100k is nothing

[Anonymous No.55809037]

>>55808784
If you're that rich and can't find money to invest you're incredibly fucking retarded.

I earn 55k a year BEFORE taxes and I save a fortune every year for investing.

>>55808890
>You can't. Crypto's 20x growth is over. It's 10x at most.

You don't want a 10x return, you want a stable 6% or 8% return on your capital.

[Anonymous No.55809041]

>>55809029
Well it’s two years net income. With how frugal I am closer to 4 years. That is something even if it won’t break the chains. Besides I need a goal

[Anonymous No.55809044]

>>55808951
1. Living at home is hell

2. You are not allowed to work and live at home, your boss won't allow you to show up late because of commute distance.

I earn 55k and live on my own, and easily save. OP is a drug addict.

>>55809017
>70k a year

So you're super rich and you can't even save? Pathetic.

Oligarchs like you belong behind bars if you can't do anything productive.

[Anonymous No.55809053]

>>55808784
Try a nice growth oriented mutual fund. I've done okay with PRWAX.

[Anonymous No.55809057]

>>55809020
5 figures is ultra-rich these days, I'm super rich myself and i make 55k.

Earning six figures is impossible if you're not born to a family in Congress or part of the International Banking System

[Anonymous No.55809071]

>>55808890
> They don't
They do
> You can't. Crypto's 20x growth is over. It's 10x at most.
Absolute fucking retard.
> Business is literally gambling, 80% of new business fails
Yeah if you’re opening a restaurant or bar maybe
> You may have better luck investing in real estate.
Yeah bro, just buy the top!
> You shouldn't pay your taxes
You fucking glow so bright lmfao

[Anonymous No.55809077]

>>55809037
That doesn't even beat interest. It's not even saving money at that point, it's lost opportunities to make money.

[Anonymous No.55809087]

>>55809077
Interest is 3% a year, you don't want to earn more than 8% a year, if you are then something is seriously wrong and you're about to lose all your money.

[Anonymous No.55809125]

>>55808784
DCA into Blackswan until you have 25k Blackswan. Then use the bot for plays like longing the ETF bitcoin news when it happens. More info at blackswan dot biz

Phase 4 is about to be released so might be a good time to pick it up at 400k MC

[Anonymous No.55809127]

>>55808784
>I carelessly waste all of my disposable income on frivolous bullshit.
>Why don't I have any money to invest?

NGMI

[Anonymous No.55809160]

>>55809127
This, OP also has dirt cheap rent and can't find money to invest.

[Anonymous No.55809210]

>>55808890
>you shouldn’t pay your taxes
Exactly. Why bother losing a little bit of money every year when you can risk losing it all instead

[Anonymous No.55809231]

>>55808784
Month ago I had 23 yo birthday and it was exactly like this. I even remember sitting in the same pose, jfc

[Anonymous No.55809251]

>>55808784
How do you spend 15k/year? Are your utilities included in rent? If not that's a horrible financial decision to pay that rent. Consider buying a camper.

[Anonymous No.55809267]

>>55809251
15k a year on rent is DIRT CHEAP.

I make 19k a year and I live with a roommate in a den. That was the cheapest possible spot.

[Anonymous No.55809289]

>>55809267
Oh I read that wrong. How does anon not save anything with 40k leftover is my point. He either spends too much or doesn't save.

[Anonymous No.55809323]

>>55809289
He's retarded senpai.

I earn 55k a year, I make 40k a year after tax. I spend 19k a year on rent, that brings me to 21k. After food and utilities and shit, I take home 12k.

That's 1k a month for investing. If I can do it on 55k, he can do it, especially with higher income and lower rent.

[Anonymous No.55809381]

>>55808951
>live with your mum and dad
I did this during the pandemic and basically pocketed my $120k salary as a remote IT system administrator.

[Anonymous No.55809415]

>>55809381
How the fuck are people making these insane salaries?

I went to an ivy league school and the max salary i know that someone has is 85k a year.

[Anonymous No.55809421]

>>55808951
Had to move for this job otherwise yes

[Anonymous No.55809428]

>>55808784
This pic will be me when I turn 30 soon…

[Anonymous No.55809445]

>>55809415
I went from 60k to 130k in 3 years. My industry is retarded though. I don't know if it'll pan out long term.

The techbros confuse the shit out of me though. I don't think there's as many 100k+ salaries in tech as people make it seem on this board.

[Anonymous No.55809449]

>>55809415
All the easy do nothing jobs are high pay but require a college degree. All the hard jobs that are labour-some are low pay but require no education.

The world is literally just people with college degrees being subsidized by the labourer slave class. We got rekted falling for the “college is a meme” meme

[Anonymous No.55809458]

>>55809445
I make $230k and think about killing myself everyday

[Anonymous No.55809465]

>>55809458
Go to a therapist

[Anonymous No.55809485]

>>55809449
>All the easy do nothing jobs are high pay but require a college degree

I went to Princeton

>The world is literally just people with college degrees being subsidized by the labourer slave class. We got rekted falling for the “college is a meme” meme

I fell for the meme by literally studying at Princeton??? How is that falling for the "college is a meme" meme?

[Anonymous No.55809518]

>>55809485
If I make more money than you going to an Ivy League and I went to a literal who state uni, that is kinda sad

[Anonymous No.55809531]

>>55809518
I have no idea how you did it, you must have insane connections. Dad in Congress?

[Anonymous No.55809540]

>>55809485
>>55809518
I went to a liter who state uni and make more than that anon. On top of that my field isn't even what I got my degree in lol

[Anonymous No.55809564]

>>55809531
No just an engineering degree

[Anonymous No.55809566]

>>55809564
I have an engineering degree too.

[Anonymous No.55809577]

>>55809566
I did electrical engineering, u are probably the mechanical engineer that makes the threads here lmao

[Anonymous No.55809583]

>>55809577
Computer engineering. Couldn't find a job in the field so I work for tech consulting.

[Anonymous No.55809591]

>>55809125
>>55808849

KYS

[Anonymous No.55809603]

>>55809125
Some of the best alpha on biz

[Anonymous No.55809617]

>>55809583
just get a defense job they are easy to get if ur a hard worker and a U.S. citizen

[Anonymous No.55809670]

>>55809617
>U.S citizen

I've been trying to get citizenship for the US my whole life.

But from my understanding they're very very hard to get.

[Anonymous No.55809684]

>>55809458
>I make $230k and think about killing myself everyday
wtf is your job?

[Anonymous No.55809796]

>>55809231
Happy birthday anon, may your week-end be fun !

[Anonymous No.55809836]

>>55809670
So you're a shitskin? No wonder your salary is trash.

[Anonymous No.55809843]

>>55809836
But he said he was an Ivy League grad

[Anonymous No.55809869]

>>55809836
I'm blond hair blue eyed, literally pure Scandinavian ancestry besides a bit of North German.

I'm rich because I worked hard and went to Ivy League.

[Anonymous No.55809874]

>>55809836
The reason you went to a trash school and never got into ivy league isn't skin color, it's because you are subhuman

[Anonymous No.55809941]

>>55809869
Another easy job for CE is just applying to FPGA or circuit design types of jobs, those are everywhere and pay similar to ask

[Anonymous No.55810130]

>>55809231
>tfw also turned 23 a month ago
This is the worst age yet

[Anonymous No.55810194]

>>55809415
I am 24 and making 94k as an insurance underwriter. I'll prob be making like 170k by the time I'm 30. It's not bad too. Most of my day is spent twiddling my thumbs then like 45 minutes of work

[Anonymous No.55810407]

>>55809485
I didn’t;T read the 2nd part of your post. In that case college is a meme even Ivy League if you are a retard and pick a bad degree like black woman studies

[Anonymous No.55810431]

>>55810407
Yeah, I didn't know Computer Science, Finance, and math are meme degrees!

The very device you're using to type this trash was only possible because of us engineers and mathematicians.

[Anonymous No.55810544]

>>55808849
>DCA is one way to maximize gains.

I've implemented that approach with my holdings, including IOTX, HBAR, XTP, IRIS, and KAVA.

[Anonymous No.55810671]

>>55810194
By the time you are 30 you will be out of a job. Smart contracts will automate the insurance industry

[Anonymous No.55810722]

>>55810671
Who gives a fuck? People change jobs like 10 times now over their career. As long as you showed your a competent employee and have references you can be hired elsewhere.

[Anonymous No.55810748]

>>55809684
Software engineer. I work from home and have zero social interaction outside a 30 min meeting everyday

[Anonymous No.55810852]

>>55810722
There is a job opening at Google right now for an electrical engineer that pays 140k and all u need is experience with lab equipment and shit u learned in ur digital class, go for it my German friend

[Anonymous No.55810918]

>>55810852
Learn history

[Anonymous No.55810973]

>>55810918
sorry brah forgot ur scandi not all German

[Anonymous No.55810982]

>>55808784
>how the FUCK do average people invest
They don't, really, with the median amount American only saving $250 a month.

If you want to really invest, you need to up your income. For example, I work from home as a software dev, making $135k total comp a year, 3.5 years in the industry, so far. I also was blue collar, before, though, so am used to living very cheaply and still live cheaply, never taking rideshare or using food delivery apps, living in a cheap city with cheap rent, etc.. As a result, from the about $8,000 post tax I make each month, I am able to invest about $6,200 a month, too.

[Anonymous No.55811027]

>>55810982
that's baller amount bro, right on.

When I had OPs salary I was still able to max out 401k (put ~20k a year invested away) and a little more after that. Not glamorous, but if you do that in your 20s and 30s you will be ahead of 95% of the population by 40. With OPs salary he should still be able to achieve a 7 figure net worth by around 38-42. Wow that's not yolo FU money it's still better than vast majority of population

Once you have 1 milly invested you can take foot off the gas. You cant retire on that, but you really dont even need to save anymore if you wanted to. You could drive for Uber for a living and still retire comfortably.

[Anonymous No.55811107]

>>55811027
Yeah, the median retirement income in America is only something like $250k, which, at 44 years working (ages 21 to 65), 4% annual interest (compounding), they are saving about only $180 a month, too.

Meanwhile, at my current rate of about $6,200 a month, I can save $250k, without any interest at all, in only 3.36 years. I never get why so many folk in tech live outlandish lives in lavish cities, instead of doing this. I could work for 3-5 more years, then retire to some chill part time job, like dog walking or poster hanging, let my investments grow a bit more, then start living off the interest, and still have $1m easily, at 65, as long as I kept living cheap.

[Anonymous No.55811111]

>>55810982
That's bullshit.

I earn a high income, 55k a year, but still lower than OPs.

I can invest whatever i want because im not bad with money.

[Anonymous No.55811130]

>>55811111
WASTED

[Anonymous No.55811149]

>>55810544
Did you missed QANX out of the list? That's another project that I see pulling a surprise after XRP. The launching of its private blockchain which will be live few weeks from now worth looking at closely by all

[Anonymous No.55811193]

>>55811107
I have a similar plan. Dont work in tech and make smaller salary (~130k) but live in LCOL flyover america and WFH. So many people get caught up on that retirement number and worry if it will be 'enough' to just quit working forever. IMO this is a very uncreative way of looking at retirement.

If there is one thing FIREcels get right it's actually critically challenging how retirement is viewed. Instead of trying to do the math of when you can quit working and stare at a wall until you die and be ok, you should consider flexibility of still working in retirement. But something you actually enjoy, not email job in corporate hell. You dont need this money to fund your life either, just subsidize it.

The number you should try to hit is the one where you have enough saved that you dont have to contribute another dime to your retirement and be ok, itll be plenty when you are in your 60s. From then your employment options can be lterally anything. That 40-50k a year job as a personal trainer, or owning your own coffee shop, or teaching chit, whatever it is as long as you can live on in then you are good to go. Hell go travel and live cheaply in 3rd world if you want. Your goal shouldnt be to just retire and rot. But grant yourself flexibility for the life you want

[Anonymous No.55811195]

>>55809125
This looks like a trap, ain't gonna fall for it. Meanwhile, Players and creators in the decentralized gaming environment re benefiting greatly from the Elfin p2e gaming and I'm all dead on it already.