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/biz/ - Business & Finance

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1471876 No.1471876 [Reply] [Original]

>Read "The Richest Man In Babylon"
Okay I just gotta save a 10th of what I earn and invest.

>Currently reading "The Millionare Fastlane"
Okay, I just gotta disregard earning slow, since that is unreliable and I will only end up having the money when I'm dead.

So slowlane apparently dosen't work and I'm too retarded to do fastlane.

I WILL NEVER BE RICH /BIZ/ OH GOD WHAT DO I DO

>> No.1471879

>>1471876

Why not do both?

Get poor quickly.

>> No.1471882
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1471882

>>1471879
One step ahead of you

>> No.1471888
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1471888

Saving is a meme in the modern low interest rate environment

You get NOTHING

FUCKING NOTHING

>> No.1471890
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1471890

>>1471888
A-At least I'm healthy and young! H-Hehe......

>> No.1471906

Get a job where you make 70k a year. Spending your evenings drawing and playing earnings reports. After 2y paper trasing use real money.

Youd be a millionaire before 20 years.

>> No.1471910

buy btc and hold long term

buy altcoins with interesting project, get 1000% returns

>> No.1471913

>>1471879
Honestly trying to do both is not a bad idea. Live frugally and within your means, save and invest a small portion, and educate and grow yourself so you can develop you career and your skillset to either land a decent paying job, or to start a succesful business. You're playing the long game but you're also incorporating the tactics from riskier "fast lane" get rich quick style schemes. Honestly, those born in the middle or lower class should never aspire to be super rich because it just isn't going to happen - focus on breaking through the classes and making a decent amount of money and leaving something fir your kids to grow.

>> No.1471922
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1471922

>>1471888
>Saving is a meme
yes good goyim, spend spend SPEND.

>> No.1471928

I've read both.

Both of those philosophies aren't mutually exclusive.

Let's say you have a day job. The financially responsible thing is to save 10%, just like Richest Man in Babylon says, right?

How is that stopping you from starting your own business too? RIchest Man in Babylon says to invest your savings. You can invest your savings by starting a business, which can generate huge cash flow and put you in the "fast lane", such as a down payment for rental real estate for example.

The way I see it, Richest Man In Babylon is a guide on how to effectively use your money, while Millionaire Fastlane is a guide on how to effectively use your time.

>> No.1471953
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1471953

>>1471928
Hmm. That makes sense.

>> No.1471956

>>1471876

You missed the point of both of these books

Saving money doesn't make you rich

Making money makes you rich

Saving is nothing more than having some left over when your youth ends.

>> No.1471962

There are no lanes faggot. Your personal ability defines the amount of your earnings. There is nothing to choose here because the reality is deterministic anyway.

>> No.1471967

>>1471906
I've been trading actively for 10 years now...I've only lost money heh

Hell I just lost all my XMR due to a Margin Call yesterday. TWICE.

>> No.1471984

>>1471967
>what is risk management

>> No.1472376

>>1471876
Now go read Anti-fragile by NN Taleb.

Use his idea of the barbel. Save and hold most of your wealth in something secure on one end, but on the other end expose yourself to a high risk/ high reward.

>> No.1472378

also, Fastlane was a fun read. But the buzz wears off after you remember selection bias.

>> No.1472389

>>1471876
Use leverage and open a proven business. For example, renting out real estate, accounting firm, legal firm, etc..

The Millionaire Fastlane guy is a bit biased, and there's too many CS majors these days to compete with.

Do a proven business model, improve upon it, and sell the business when it's very profitable. Same idea, just without reinventing the wheel.

>> No.1472417

>>1471922
Like bringing it to the bank makes you a less stupid goyim,
Get fucked anyway

>> No.1472425

>>1472389
This, OP.

>> No.1472427

>>1471876
i do slowlane for 90% of my wealth and fastlane for 10%, like memestocks, PND and cryptos

that way i dont lose all my wealth is things go sour, and make mad gains from my 10% spear tip

>> No.1472854
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1472854

>tfw you are there Poorest man in the fastlane

>> No.1473245

>>1472427
Stay poor, kiddo