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/biz/ - Business & Finance

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9837026 No.9837026 [Reply] [Original]

I'm 28, I inherited some property from my family that is worth a little over $1 Million.

I hate my job, I work in a restaurant, i'm fat, balding and i'm Asian. My parents are militantly middle class thinkers that think the only way to be happy is to work a job, earn active income be asset rich but cash poor.

I want to make this $1 Million generate enough passive income from investments; I want to go into Private Banking and I plan to move to some SE Asian country (Thailand?) to live in a low-cost environment while letting my dividends reinvest itself for the years.

How feasible is this? I hate my life and I hate to work. I hate my body and I want to spend this freedom to become a healthier better me.

Any advise would be greatly appreciated.

>> No.9837095

any advice will be appreciated

>> No.9837099
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9837099

>>9837026
There's literally nothing wrong with working in a restaurant. It's honorable as fuck, why are you shitting on it? Do you think you're special? What do you think you'll be doing instead? Saving the world?

>> No.9837114

>>9837026
retard. you saw the portfolio of this biz basement neets? you asking them fin advise. go and meet few professional fin jew advisors. not biz pajeets.

>> No.9837152

Lmao private banking with 1M.. the banks taking ppl with 500-1M range are cash grab that will get you justed every crisis and eat up 1.5% of your money as fees.

Don’t consider private banking if you cannot join real asset management (e.g HSBC private banking 4-5M+)

>> No.9837161

thai girls hate fat balding asian dudes

>> No.9837184
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9837184

>>9837152
correct

OP, think of a nice way to divide in a couple chinks good assets. one chunk in something stable like QQQ, another chunk in a house, another chunk in BTC/ETH

if you want to get aggressive, consider options

>> No.9837219

how much passive income can I generate from 1 million?

is that enough to live off of?

>> No.9837230

>>9837099
Fuck off you mentally handicapped beta boy. OP wants to be a man.

>> No.9837233

What I learned from /r/personalfinance and /r/financialindependence:

Invest it in index funds.
At the 4% SWR (safe withdrawal rate, according to the Trinity Study), you should be able to withdraw $40k annually from that forever.
Enough to live like a king in 3rd world countries like the Philippines (you can rent a condo right in the middle of the metro for less than $300).

Personally, I'd put only $750k ($30k annually at the 4% SWR) and invest the remaining $250k into bitcoin RIGHT NOW.
Even $2500 monthly is enough to live like a king in such countries.

>> No.9837242

>>9837026
you won't stop being fat if you become a NEET, you need to stop unhealthy food, and, in general, you should stop eating too much
and if you inherited a million and are already thinking about wasting your money, you are fucked already, IMO.
if you really want to improve your life, you need to learn to control yourself. control the way you eat, control your money, etc.

>> No.9837257

>>9837230
You can't be a man working in a restaraunt? Pathetic. OP will be ready to quit when he's sad to go because he'll miss everyone there and only has to because he truly has bigger and better things to do. With how he is now he will just wander aimlessly and spend a shitload of unnecessary money.

>> No.9837265
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9837265

>>9837099

you dont understand how it feels till you are balding and sweaty and taking orders from guys with hot girlfriends that stare at the bald spot on your forehead that glistens with sweat under the LED lighting.

you dont get any respect for that job, you dont get anyone thanking you, society needs you but society shits on you.

>> No.9837305

>>9837233
this but without the bitcoin

>> No.9837357

>>9837026

>>9837219
>how much passive income can I generate from 1 million?
couple options here.
A) Buy rental properties and rent them out, put a property manager in charge of them. Right now you will probably only get about 8-15% return annually if nothing goes wrong with the propertys

B) buy dividend paying stocks that are on the DJIA or S&P500 that pay around 5% even then you will have to pay a tax from in and inflation will eat that over time.

If you don't know what you are doing you can blow it big time. there are people that can get 20%+ returns consistently over the years but you don't sound like the type that has a clue of what they are doing and will probably blow it.

>>9837219
>is that enough to live off of?
depends on the life you are trying to live, some people pay less than 1k to live every month, some people pay more than 5k to live every month.. it all depends on what kind of lifestyle choice you want

Lets say you want to live a life of 2500 a month, that 2500 will be more in years times due to inflations, so in a few years that 2500 a month expenses is now 3000 a month expenses and you will have to adjust your investments accordingly with interest rates and market conditions of whatever fucking market you decide to put your money in.

Honestly your best bet OP is to invest into some rental propertys and keep working the shit hole fucking job you have and learn as much as you can about managing and investing your own money until you feel confident enough to let go of your job.

Im 27 and haven't worked for 3 years. I own rental properties and trade stocks for a living. I didn't just quit my job as soon as i bought a rental i kept working and kept working until i felt comfortable letting go of the job and even after i let go it was very stressful to not have the income stream. I made it, but ill tell you right now.. it's not going to be what you think, 1million is fucking nothing and will go very very quick.

>> No.9837363

>>9837265
What an entitled shit, LED lighting doesn't give off heat, your work environment accommodates for you and you're not happy!? I walked into a Chinese take out place with a brand new skyline in the front and the cook was Mexican, I asked him who's ride that was, he said it was his, even put a virgin Mary on the side, he says the socioeconomic inequality has created a demand for cook jobs with noone to fill it so he's paid $35 hr plus double overtime to make food he was paid $8hr to make 5 years ago, why the fuck are you poor!?

>> No.9837568

>>9837026
In regards to body, get a GOOD personal trainer and just do what they say. It really is that simple. I got super fit that way - just coming in 2x a week and PT put me through intense workout each time. Getting fit will naturally give you lots more confidence and you will fell better about yourself.

I would buy 2 properties worth $400,000 each, rent them both out, and use the rest of the cash to travel the world and find out what you want to do in life.

>> No.9837599

>>9837026
just whatever you do dont put it in crypto

>> No.9837613

>>9837265
stop being a fucking pussy and lose some weight. guarantee you're an ugly fuck and that's because you're obese. shave your head completely when you get in shape and you'll more likely look at least average, unless you have shitty genes and are just naturally born ugly (very unlikely)

>> No.9837618

>>9837568
this is also a decent answer.

but honestly if you lack even the minimal amount of willpower it takes to eat healthily and get in shape and be healthy then you DEFINITELY lack the mental fortitude it takes to be a successful long term dividend investor. youre a mental midget down syndrome chink

>> No.9837627

>>9837026
1m ain't enough man. Put 5-6k into getting hairplugs in Korea or Thailand. Then put another 100-200k into BTC and ETH. Then wagecuck or open business and pray btc hits 200k by 2020.

>> No.9837723

vanguard ETF, a high dividend yield stock portfolio, some gold/silver to hedge, some bonds, and maybe buy a house/apartment complex and rent it out and youre set. dont quit your day job tho, 1 mil aint a lot

>> No.9837788

The rental property meme still going strong I see.

>> No.9837831

>>9837219
term deposit " don't touch it"

then find a job that is fun to you but challengers you and forces you to grow

or get a better job, save more + interest earned and buy another property to rent it out to pay for the loan. Rinse and repeat.

>> No.9837880

>>9837026
start fasting my friendo it will cure you of your lard ass fast for 20 days its easy and euphoric

>> No.9837902

don't you want to go to a college or something?
I know you're 28

>> No.9837906

>>9837026
1. shave your entire head. you're asian so you will have darker skin which means you can pull off the bald looking without looking like a cancer patient.

2. lift weights

3. eat meat, fish, vegetables, fruit. do not drink alcohol.

>> No.9837912

>>9837026
If you're not on the path to become healthier now, more free time won't really put you there either.
Start changing now OP, and you're new better version will be able to make better decisions than the current one.
Also, how much can you rent that $1M property? 5k\month? Could be a good starter.

>> No.9837913

>>9837788
call it a meme, but I bought a rental property for $280k, renting it out for $1.1k p/m , and it has never been vacant for several years.

Oh, and it's saved me thousands of tax dollars.

The people complainng about it either
a) never bought a rental
b) bought a shitty property that no one will rent (before making investment do your own research - buying in a busy city is basically 100% chance that it will always be rented)

I like low stress investing, which is why property and blue chip shares (which have dividends) are my main investments.

If you pick the right rental property and get a decent manager, it is basically free money for hardly any effort.

>> No.9837950

>>9837913
I get it, but I make close to that without any taxes or costly repairs with low risk.