/biz/ - Business & Finance

[Anonymous No.6108735]

Who here has ever cashed out a significant portion for something (in b4 you can't cash out meme)? I've been sitting on over $250,000 and want to take out money to buy my dream car, a Dodge Challenger Hellcat... but I can't get over the idea of taking out $40k that become $400k or more before the end of the year.

[Anonymous No.6108821]

As good as the gains are and as hard as it is 250k is a super significant amount and you can easily make a mil this year cashing out 50k to buy the car
This shit could come tumbling down literally any second just keep that in mind

[Anonymous No.6108909]

>>6108735
you're a fucking idiot. your gonna piss away your money on stupid liabilities and be broke again in 10 years. I have 1 million in the bank and I drive a piece of shit 2004 kia sedona with a trade in value of $800. Once I roll my money into a real estate property I am set for life. Rethink your financial decisions.

[Anonymous No.6108946]

Similar boat anon.

I'm going to be cashing out 25k and leaving the rest to mature this year. Take gains, it feels great.

[Anonymous No.6108997]

you don't know him at all. he can choose to spend his money on whatever he pleases you fucking cunt. let it be hookers coke or cars. learn to live life a little. having a nice car gets you bitches. no girl will fuck you if u drive a kia. real estate will come with time

[Anonymous No.6109117]

>>6108909
I literally have been driving the same 2006 Nissan Murano that my mom gave to me for years. I live an otherwise frugal life... cook at home (eating out is $1 taco tuesdays at my local taco shop), buy clothes from Ross, only use pre-owned dragon dildos, etc.

[Anonymous No.6109249]

how many memecoins do I need to get this chick to chase me down for my Tresor?

[Anonymous No.6109372]

>>6108909
Your a fucking idiot the car will be paid for and who are you to tell someone not to do enjoy their hobby? Just because you enjoy driving a cuck Kia doesn’t mean that’s how everyone needs to live. Im sure you blow dumb money on your weaboo butt plug toys

Plus if you have a million you wouldn’t leave it in a bank you dipshit

[Anonymous No.6109385]

>>6109117

>pre-owned

Holy shit my sides.

[Anonymous No.6109411]

>>6108735
I only cash out like $1000 at a time on bitflur.com

it works for me

[Anonymous No.6109415]

>>6109372
>Plus if you have a million you wouldn’t leave it in a bank you dipshit

it's good to have some petty cash lying around anon. make some real money and you'll know what that's about

[Anonymous No.6109518]

>>6109117
>buy clothes from Ross
https://www.youtube.com/watch?v=UHHJMrP2YG0

[Anonymous No.6109831]

>>6109415
Lol make some real money and just keep it in safe investments stocks/real estate etc or just leave your million sitting in a bank to get cucked by Jews and inflation

[Anonymous No.6109923]

>>6108735
figure out what you want in life: where you want to live (and if you want to pay it off in full, or just mortgage), what cars you want, how much you'd spend on food, gas, insurance, bills; how much you want for investments, what you'd spend on hobbies and travel, your SO if you plan on having one, same with children, any debts, family/friends you'd like to do things for, savings, and if you'd like a passive income what you'd need for that. get a rough estimate, and perhaps plan based on that? good luck anon, i think you deserve your dream car but be smart about it! use the smarts you used to make your money and try to be somewhat frugal

[Anonymous No.6110013]

>>6108735
>He wants to use his gains to buy a car.
Better off just buying up property and renting them out, you'll never have to work again.

[Anonymous No.6110117]

>>6108997
More like cars will come with time

[Anonymous No.6110222]

>>6108909
Nice larp

[Anonymous No.6110690]

>>6109117
don't be penny wise but pound foolish anon

if you're that tight on money then buying a 60k car with high maintenance is not worth it at all. you should set yourself up in case some bad shit happens (crypto collapse + laid off/injured etc). if you really need a new car my advice would be wait another month or two to earn some nice gains on that portion of your money, then cash out and buy a highly dependable used car. one whose parts don't shit out and gets decent mileage. I know it sucks but save the fun purchases for when you reach a million

[Anonymous No.6110905]

>>6109117
>clothes from Ross
just buy fake shit from taobao/superbuy in China, really good quality clothing and the fakes are near as identical as the real items if you do proper research.

saves a lot of money

[Anonymous No.6110941]

>>6110690
I'm not that tight, I'm mostly cheap. I did the neet life for a little while so I learned the skills of being frugal. I don't NEED the car but I do feel like there comes a point to take out some gains. What if this whole crypto thing crashes overnight (don't pretend it can't happen), at least I could say I bought the car of my dreams by playing with digital Monopoly money.

[Anonymous No.6110952]

>buying a dodge
>ever

might as well invest in ripple anon

[Anonymous No.6111237]

>>6110952
It has 707hp, fuck off. It's a beast.

[Anonymous No.6111363]

>>6111237
thats a charger you fucking nigger

[Anonymous No.6111442]

>>6111363
The hellcat can be had as charger or challenger but OP did specify challenger

[Anonymous No.6111481]

>>6111237
Trump voter huh

[Anonymous No.6111504]

>>6108735
>take out money to buy my dream car

[Anonymous No.6111643]

What's the point of all this money? Peace of mind, but also to enjoy life a bit. A flashy car isn't one of my priorities, but if you're going to get a lot of joy out of it, go for it. You could also be telling us that you could have spent money on a car but lost all the money in a crash, and now you have nothing tangible.

[Anonymous No.6111675]

>>6111237
how much do one of those run for?

[Anonymous No.6111719]

>>6108909

This

[Anonymous No.6111722]

pic related.
OP's current ride

[Anonymous No.6111736]

>>6108735
kek I never tought that I would see this man faced whore here. She's a escort btw, works in my gym.

[Anonymous No.6111795]

>>6108735
Pick a date 3 months in the future. Each day trade the money you would have spent on the car and see what it amounts to.

Then decide if you still want the car.

Nothing wrong with taking profits and treating yourself, but 40K is a lot.

[Anonymous No.6111841]

Lease one assuming you have good credit. Use the saved money to invest and own the car for free.

[Anonymous No.6111868]

I have 365k$ in crypto and Im thinking about cashing out 10% to buy land where I will build my house if I succeed or if I fail I can sell the land and spend it for hookers and drugs before kms.
Is this good plan lads?

[Anonymous No.6111872]

>>6111736
looking for me?!

[Anonymous No.6111924]

>>6111868
Yes. Buying property (outright, no mortgage) is a really smart way to spend money.

[Anonymous No.6111943]

I will never cash out until the bullrun is over.

To be honest, I am actually scared of making all this money real, I live on a $500 monthly budget and suddenly having a lot of money available is a very alien idea to me.

Currently 30k in my wallet and I still feel like it's lunch money compared to the rest of /biz/.

[Anonymous No.6112075]

>>6111924
I'm going to disagree unless you plan on retiring on it. Otherwise rent and use the money you'd use to purchase the property and invest it.

[Anonymous No.6112247]

>>6108735
Get yourself the damn car. Take some money off the table and get yourself something nice. If everything collapses, at least you have the car.

[Anonymous No.6112352]

>>6108735
If you have 250k, just buy that damn car if it's so important for you. Just realize that you will feel underwhelmed. Let me give you a challenge:

If you buy the car, you CAN'T sell it. You have to drive it to the ground. Put at least 300.000 miles in it. You said it was your dream car, right? You shouldn't have a problem driving it for 10, 15, or 20 years.

[Anonymous No.6112433]

>>6109518
where is this faggot now. MDE was my favourite shit ever.

[Anonymous No.6112498]

I plan on paying off my parents' house, is it foolish to take out all at once and pay some taxes and will my parents be negatively affected if their debt just dissapears in one day?

[Anonymous No.6112514]

>>6111237
>707 hp
>bigger numbers mean better car
>it makes really fast going!
>oh shit, a corner

[Anonymous No.6112557]

>>6111111

[Anonymous No.6113085]

>>6109415
>makes money
>doesn’t spend it
You know you can’t get buried with your bank account right?

[Anonymous No.6113212]

>>6108909
Both of you are fucking idiots. Why not just buy a car that will appreciate in value?

[Anonymous No.6113488]

>>6111841
>lease one
>lose all your holdings when crypto gets USA ban
>flip burgers to pay the lease

[Anonymous No.6113493]

I cashed out 30K at the end of the year (through coinbase, got the money in my bank account quickly with no issue). It was only a portion of my crypto portfolio. Planning on buying a simple but nice, new/slightly used car. I am reporting it on my taxes but I am currently neet so I believe my tax rate is zero for long term capital gains.

[Anonymous No.6113597]

>>6113212
> car that will appreciate in value

[Anonymous No.6113766]

>>6113085
Yes you can. Buy gold and have a people build a temple above your corpse and gold.

[Anonymous No.6113852]

>>6112352
>300k miles on a Dodge

KEK

[Anonymous No.6113883]

>>6108735
your gif is disgusting bro but just remember to treat your car well

[Anonymous No.6113985]

>>6113597
I mean... if you get a salvage and find parts from pick and pull sites while also doing the repairs, you can make money off it, but that takes several weeks

[Anonymous No.6113990]

>>6112498
if they recieve some kind of government aid based on their income maybe. Gifts aren't taxable unless you give them millions.

[Anonymous No.6114013]

>>6108735
>>6111736
sauce?

[Anonymous No.6114047]

>>6113852
Lol so fucking true

[Anonymous No.6114327]

>>6113990
Turn recieve social security. I plan on getting them $200,000.

[Anonymous No.6114599]

>>6114327
pay an accountant to go over their financials, might have to do it over several years.

[Anonymous No.6114771]

>>6111943
Make rules for spending. Eg you cannot change any spending habits for a year. Make a budget for long term financial success and stick to it. No exceptions. I believe in you anon.

[Anonymous No.6114801]

I know that feel OP, except I only have $30k ;_;

I bought two cars I wanted but I took out 0 money down loans so I can let my cash make me money from crypto.

The car's value doesn't change wheteher I owe on it or not.

[Anonymous No.6114913]

>>6113493
If you cashed out that 30k but traded cryptos with it the past year you have to pay tax on each time you sold or bought a crypto. Not even if you move it to USD, just if you buy a crypto with btc for example.

[Anonymous No.6115076]

>>6108735
Why the fuck do so many people spend their windfalls on a fucking car of all things? Literally retarded. Your 'dream car' will not improve your life, there are MUCH more efficient ways to put your money towards your well-being than buying a fucking car. God people are dumb. This kind of shit is why most people who come into any kind of money lose it within the next couple pf years.

[Anonymous No.6115080]

>>6108909
I wonder who is behind this post...

A fellow Jew, shalom!

[Anonymous No.6115126]

>>6114599
Yeah if I win I'm going to be hiring one for myself, no doubt.