/biz/ - Business & Finance

[Anonymous No.56484996]

>working with gen x Senior VP
>Guy literally makes hundreds of thousands USD a year
>Owns a beach house
>Lives the good life
>he sees me looking up stock market news one day
>"Hey anon, you seem to know that stuff, what's the difference between bull market and bear market?"
How the fuck do people who makes that kinda money, who make million dollar business deals, not understand the basics of markets?

[Anonymous No.56485010]

>>56484996
Rising tide lifts all boats. Most people have fallen upwards just by existing in the money printer times probably shook the right hand to get his job before globalization took hold everywhere

[Anonymous No.56485012]

Nepotism

[Anonymous No.56485036]

>>56484996
Because they didn't have to. They have something better and much easier to understand.

[Anonymous No.56485065]

>>56484996

Gen X was the last generation that could walk into a good job out of high school. All of that is gone now.

[Anonymous No.56485128]

idiot. playing the stock market is just a way to keep losers busy thinking they actually have a chance. rich people don't invest in stocks

fucking moron. wake up, you don't get rich from trying to moon your little piss paycheck

[Anonymous No.56485133]

>>56485128
Why are you so mean

[Anonymous No.56485164]

>>56484996
He was probably trolling you.

[Anonymous No.56485253]

>>56485128
Legitimately rich people pay other people to play the market for them. They come into the office occasionally for a sit down to hear how things are coming along. Unfortunately unless you went to an elite MBA program they won’t let you get near their money. You only get really rich in stocks by playing with somebody else’s cash and taking a percentage.
>>56484996
He unironically probably just puts money into a 401k and mutual funds. It’s what most normies who don’t have a financial advisor or a high risk appetite do. For those that do have a wealth management guy, see above.

[Anonymous No.56485275]

>>56485128
ok so what should i do

[Anonymous No.56485332]

>>56485010
>parents are multimillionaires
>barely literate, innumerate, can't even follow television/film plots
>niether worked full-time, one has an MA, other merely a community college associate's, never advanced at work, zero ambition (mom only worked 15 years in total, dad about 33 years)
>had free healthcare, vision, dental, union protection, pension, etc.
>don't know what a stock is, a bond, a treasury, an ETF, a muty, index fund, commodity, future, option
>don't know anything at all about money, credit, finance, debt
>have heard of annuities
>know the word 401k
>can't work a computer beyond accessing "the gmail" despite using them daily for 30 years
>scream and curse at the tv/phone/computer/thermostat/microwave when it "doesn't work"
>frequently "forget" to pay bills
>had 1 credit card until my sister convinced my mom to get a few more, too complicated for dad so he just uses the 1
>credit score over 800
>didnt buy a house till they were almost 60... yes they took on a 30 year mortgage less than 10 years before retiring, yes they make minimum payments
>never made any attempt to take care of their health, borderline disabled now due entirely to poor choices
>can't remember them ever doing anything but eating or watching TV after work
>since retiring they just sleep 12 hours a day, watch TV the other 12
>don't even own any nice things
>house is an eyesore, falling apart, they refuse to maintain or fix it, stating it's "not our problem"

[Anonymous No.56485338]

>>56485275
try to learn the markets as a hobby. Maximize your tax advantaged accounts.
Don't be a miserable cunt and hate your job, if you truely can't hack it change it.
Try to make money on the obvious one or two trades a year that occur when retail gets too frothy or scared.
Enjoy life.
Escape the doomes here.

[Anonymous No.56485383]

>>56485275
if you want to be sustain evil? anything in tradfi is a good bet.

[Anonymous No.56485509]

>>56485275
Treat your personal finances the way a CFO would approach corporate finances. Look at what you can do right now, and how you can invest in yourself to improve your cash flow. At some point you will need to diversify your income beyond waging to continue improving your operating profits. It probably won’t be glamorous at first- lots of people make money on tremendously boring shit, my grandmother made a million as a hospital secretary by renting out shitty 1 bedroom bungalows in a military town and putting the returns into dividend stocks. Look into the retarded shit that people like to pass up like vending machines, small rental properties or anything that doesn’t require you to be physically engaged to make money. Eventually you will need to buy a business, so learn some finance and a little contract law. WAGMI.

[Anonymous No.56485519]

>>56485332
Prime explain thanks for the greentext I hope they let you inherit some

[Anonymous No.56485612]

>>56484996
>>56485332
Most Boomers have damaged brains due to lead poisoning from leaded gasoline. Also, we have the internet where you have access to a lot knowledge, while for most Boomers the main source of education was the television/local propaganda newspaper. And most didnt need to try harder or even at all, the best economy ever gifted them everything.

[Anonymous No.56485689]

>>56485164
this.
then op spergged out like a retard and he felt sympathetic and played along

[Anonymous No.56486837]

>>56485612
>boomers didn't have internet
true of some, but not all
mom's been using computers and the internet daily since dialup AOL in 1995
dad's been using computers daily since the 70s, learned on punchcard machines and mainframes, worked with mainframes (on low level office shit, but still, had to use the mainframe)
to this day all they can do on a windows or mac PC is email (gmail), youtube, itunes, word, excel

they've actually had more time to learn than anyone here

>brain damage
we all have pollution, toxin, and vaccine induced vascular and neurological damage

>And most didnt need to try harder or even at all
agree but it doesn't explain why they didn't, their total lack of ambition, drive, aspiration, goals
normal people don't need a gun to their head just to get out of bed

[Anonymous No.56487018]

>>56484996
>working with junior millenial tech support level 3
>only at the office while im waiting for my car pick me up to drop me off at my beach house
>clearly see other employees living above their means
>see this wagie desperately refreshing tradingview with memelines everywhere
>plan to make him seethe as my driver just arrived
"hey anon you seem to know that stuff, whats the difference between bull markets and bear?"
>turn 360 degrees and walks away as he grits his teeth and rages at his screen

[Anonymous No.56487057]

>>56487018
Gold

[Anonymous No.56487104]

>>56486837
>they've actually had more time to learn than anyone here
This is what baffles me the most- this acceptance of stupidity. Idk how these boomers don't even attempt to get decent at using technology that clearly impacts their day.
To be fair, I know young people that are pretty tech illiterate too (can't even navigate simple settings, don't know what a torrent is, don't even attempt to google issues)

[Anonymous No.56487110]

>>56484996
Based Xboomer VP

He was obviously taunting you and it was a trick question to take the piss out of you. Unironically he wanted to hear your cope response to “the market”.

The answer is there is no such thing as a bull or bear market. It’s all a farce. If you directly play the stock market game you lose regardless if it’s a bull or bear. Buy sp500, don’t have to worry about bullshit or bearshit, and end up a multi-millionaire in retirement.

It’s that easy. And yes it was a trick question to hear your wage slaves day dreams.

t. Business owner and pull this routinely on the factory floor from order pickers and other slaves. Yeah their plug earnings after 3years are doing great HAHAHAH

[Anonymous No.56487223]

>>56484996

he was trolling you and you're too Gen Z to realize.

late-Gen X here. no college degree. $225k + bonus. started in tech support, weaseled my way into a development job and the rest is history. wife is similar, but with a degree. lack of a degree has kept me on the engineering side - where nobody really cares. i won't even say i'm amazing at what i do, but i'm easy to work with and know how to act professionally... enough. you'll never hear me aggrieved about pronouns or get bent out of shape because we need to put in some extra hours a few times/year.

4x4x4000 home. put in a sweet pool in 2019. even have a shitty boat that i should probably get rid of, but we still enjoy putting around off the coast a few times year.

life is good.

[Anonymous No.56488979]

>>56485332
Not as bad as yours but my dad knows hardly anything about investing or stocks and recently told me I’m gonna inherit 6m when they die (spilt between 3) from working average jobs their whole life. They did nothing extraordinary yet they are multi millionaires because of it

[Anonymous No.56489340]

My Dad had to have a few millions, but when he died I guess everything with the house was about 2 mil. I suspect a few million just drifted away or 'whatever' happened to it. The estate company didn't really seem enthusiastic about hmm things either.