/biz/ - Business & Finance

[Anonymous No.19584502]

Hello /biz/. One simple yet complicated question.

How does an early 30s wageslave alcoholic get wealthy? How does he turn 500$ today into 5$ mil tomorrow (hypothetically). Is it day trading? Penny stocks? Crypto? Cold hard PMs?

Can you turn or advise a newfag fresh to the world of wealth and try to get them wealthy? I know its vague but with shared knowledge and experience is a sense of accomplishment and verification. If you became wealthy, are you willing to make others too?

[Anonymous No.19584537]

>>19584502
> How does he turn 500$ today into 5$ mil tomorrow (hypothetically).
by getting lucky. NEXT

[Anonymous No.19584538]

chainlink

[Anonymous No.19584551]

>>19584502
Porn

[Anonymous No.19584568]

>>19584537
How does one get lucky?

[Anonymous No.19584570]

You have no drive or ambition. The first 10x you’d make on $500 would be spent on stupid shit like a truck or guns. Just give it up.

[Anonymous No.19584582]

>>19584568
DD and crossed fingers the clown market doesnt fuck you anyway

[Anonymous No.19584602]

>>19584502
buy kneepads
suck 5 million cocks for $1 each

[Anonymous No.19584604]

buy some eth, link & h3x op
you'll be rich in no time

[Anonymous No.19584608]

>>19584570
A pretty projected statement.

But how would you invest the 5000$ you make off of a lucky strike. Whichever that may be, although I'm assuming it deals with the stock market

[Anonymous No.19584622]

>>19584502
Start with solid low cap shitcoins like Suterusu. Buy when it's crabbing. Sell high. Repeat. Might take a year and surely you will lose along the way (just remember stop loss)

[Anonymous No.19584642]

>>19584568
FUND
Right fucking now just trust me

[Anonymous No.19584643]

>>19584622
>just remember stop loss
noodle hand cunt

[Anonymous No.19584644]

>>19584622
>>19584604
>>19584582
This may be a dumb question but everyone starts from somewhere.

Is there a page or youtube vids or somewhere to learn all this lingo? Low cap, crabbing, moon, etc

[Anonymous No.19584649]

>>19584608
Nobody knows. And nobody will reveal their secrets if they do. The only way you’ll make it is stop consuming, reduce your debts, and begin investing now. You’re looking for lottery tickets, your mindset is completely wrong. Even if you “made it”, you know you’d spend it all.
What would you do if someone handed you $200k? Well, assuming you’ve worked since 18, you’ve probably had well over 200k in excess money pass through your hands and look what you have after all of that. $500. If someone handed you a million, you’d go buy a Lambo and mcmansion and lose it all within 2-4 years. Change your entire brain and ascend to man-conscious. Your net worth is your knights sword today. Cut through challenges, collect your rewards, and improve your sword. Rinse repeat. Nobody is going to give you the cheat code, as it will diminish their own returns.

[Anonymous No.19584692]

>>19584649
Well I guess the million dollar question is how do you change the way you're conditioned to consume and spend? How does one attempt to improve my sword as you say?

I dont even know where to begin with investing, with putting 500$ to a good start. This is what I intended to get an answer for. This is what I wish to know.

[Anonymous No.19584721]

Invest in GUSH before it’s too late.

[Anonymous No.19584730]

>>19584644
this has a bunch of the normie lingo
https://www.fxcm.com/markets/insights/the-most-popular-cryptocurrency-terms-and-phrases/

[Anonymous No.19584798]

>>19584692
Begin watching Dave Ramseys YouTube rants. A good one is “how to become a millionaire” If you don’t get passionate, you have no chance. I became inspired almost immediately, and turned -30k off debt into positive $139k in two years. I only make $22/hr I work a shit ton of overtime.
Investment instruments are relative. It depends if you want high risk high reward or not. Precious metals are only OK investments. You want to at least see 10%/yr average returns on your investment and keep investing. People making a million on one trade is highly unlikely. Get skilled at buying low and selling high. You can do it with anything. Stocks, watches, cars, houses. Get skilled, save money, and put away into long term investments. It’s the only way.

[Anonymous No.19584813]

>>19584730
thank you

>>19584798
Ill definitely give it a watch. Can you enlighten me to some examples as to how you got to where you are today.

[Anonymous No.19584841]

>>19584692
Putting that $500 into debts is the best start. Interest is killing your potential returns. Get debt free and only have debt for houses, or a business that is seen more like a money printer to you. All other debt is for the plebs and peasants. The Poor stay poor for a reason. Once you’re debt free start investing on Vanguard into decent indexes, mutual funds, etfs. You need to know about your investments or you’ll jump in and out and get nowhere. The only alternative is if you get skilled at buying low, selling high, then obviously your returns are much higher than 10%. The best flip strategy is go for at least 30% profit margins. I’ve been flipping cars for a couple years and I net over $1000 minimum per car. Less than 10 hours of work per car as well.

[Anonymous No.19584874]

>>19584813
What got me here is a “cash is king” mindset. I only owe on my mortgage and I flip cars and work overtime. I’ve never been more excited about life in general as my flipping strategy will allow me to quit my job when I move to a higher populated area next year. Risk mitigation is highest priority. For example, I know what a car is worth, so I know a good deal. Which reduces my risk. If I buy a house to flip for example, my risk is very high since I know little about real estate.
Reduce risk and cash is king. You’ll make it, you just need to grind.

[Anonymous No.19584881]

>>19584502
The funny part is no matter how much money you make, you will find a way to spend it all on liquor.

Fucking failure.

[Anonymous No.19584904]

>>19584813
Hey, bro. Unfortunately the root of your problem is that you're a nigger, as evidenced by your ass posting. You won't be able to make it without gambling and even then you'll lose it all shortly after.

[Anonymous No.19584953]

>>19584841
Thing is I'm not in much debt at all. In fact I think I'm a net positive. Not by much but I can easily invest 500$ into something. Btw I watched the Dave Ramsey vid. It's inspiring but dated. Don't know if credit unions do Roth IRAs or if I can find a good mutual fund but it's a start.

And for>>19584874
been pretty much a waggie all my life. Don't have the know how to flip[ on a volatile market. I do like the cash is king mindset and saving a few hundred every month is somewhat feasible

>>19584881
Truth be you would be right a few years ago but this whole pandemic shit got me thinking new thoughts

[Anonymous No.19584986]

>>19584502
>>19584568
>>19584608
>>19584644
>>19584692
>>19584813
>>19584953
It's about discipline, unless you are genetically predisposed, it's very unlikely to happen. As others have stated you want a get rich quick scheme, and even then you would just waste it all without discipline.

[Anonymous No.19585007]

>>19584904
Woah hold on there Nemo, ass and tits are great by themselves. Both attribute to fertility and virulent reproduction.

But you insinuate I wouldn't make it in the long run cause I would loose my gains after initial successes right? Isn't that what the stock market game is about for some? Unknown investments either going big or broke? What I'm after is to escape the rat race. To have a decent shot of short term success into long term security. I just dont want to stuff my mattress with money until I die of old age anymore, I want to be secure, be able to live like we were meant to be. Is that so unattainable?

[Anonymous No.19585008]

>>19584502
Options are your best bet. Study before going into it. Fundamentals of derivatives, graphical analysis of stocks, and don't be faint of heart.

[Anonymous No.19585021]

>>19584986
Then how do you attain discipline? I can reframe from spending hundreds on useless crap months on end. I can do the wage grind. And I'm sure a shit load of others on here to can as well.

What I need help is to put that money saved, money earned in a good spot. To grow. A simple vid, advice or hell even examples of how you guys did it would be great and appreciated.

[Anonymous No.19585038]

Okay that’s good, mutual funds take almost no thought. Always bet on the winning horse. If it’s performed over 10% for 30 years, it’s probably a safe bet as long as you hold more than 5 years.
Sorry to say there is no easy answer. The motivation is a snowball effect. You have a measly $500, but once you grow your net worth to $50,000 you will be more motivated than ever to do what you can to escape the wage cage. It comes faster than you think, as well. I simply stopped spending. I pack a lunch every day for work. I only buy things I use daily. I enjoyed 8 years after high school mindlessly spending, I don’t have the “well if I die tomorrow then I just wasted all that time saving” thoughts (those are the most common comments I receive When people find out I’m a super saver) I’m having more fun now than I ever did consuming product after product. Everyone my age makes fun of me, but the people 20 yrs older than me praise my mission. I want to wake up on a Tuesday afternoon and do what I want, and not have to answer to a boss, landlord, or bank. One day I’ll be debt free entirely and independent from an employer and I’ll do what the fuck I please. Sacrificing a consumerist life is worth the reward.

[Anonymous No.19585047]

>>19585021
No, you can't, that's why you made this thread.

[Anonymous No.19585068]

>>19585021
Put your money into a savings account periodically. Make it grow. Your goal is something around 10k.
While you make it grow, use all your free time studying options and graphical analysis.
Once you get your 10k, split it in 10 one thousand dollars "bets".
Apply what you learned in options trading. it's the quickest way to double your money. Never go all in. Use one bet at a time to get used to it. You have 10 chances before going broke, you'll learn it before that.
Godspeed, anon.

[Anonymous No.19585131]

>>19585038
I praise your admirable effort. Not exactly my end goal but hell if it doesn't take commitment. But what are some good mutual funds? Hell, I don't even understand what a mutual fund really is. I hear about crypto and hedges and safe stocks and all this stuff. I'm green to all this.

>>19585068
This sounds like one hell of a gamble. I can see how it can pay off but I don't know if I'm even able to commit to something like that.

[Anonymous No.19585225]

What I have learned so far is:
~Takes luck, discipline and commitment to invest in a good yield stock
~If I gamble there are high risk losses compared to high gains
~The market is volatile and unpredictable in nature. Safe bets are low yield while you can get lucky
~Boob afficionados are a vocal minority
~You need the drive and ambition to want to get rich.

This is very enlightening. I am learning a lot and facing certain issues in my life. Cathartic

[Anonymous No.19585237]

>>19584502
just buy Unibitcoin

https://etherscan.io/token/0x8c2c8b49a74d3d9d513df995bd0131e543c5ea63

ride the UNIPOWER PUMP into another glorious PUMP anons

[Anonymous No.19585238]

>>19584537
/thread. Lottery is the only hope for someone like OP and it's still a crap shoot.

[Anonymous No.19585265]

>>19585131
It’s basically a mini index fund. A collection of stocks picked by experts with the end goal of outperforming the Sp500. Just get a vanguard account. US GROWTH is the best performing, but highest risk as they acquire emerging assets (newer companies). Crypto is aright if you know what to do. You can chase pump and dumps, or accumulate the top coins like bitcoin or eth and hope it’s worth 100x in 10 years. Either way, there is never gonna be a quick path to riches. They call them “get rich quick schemes” for a reason.

[Anonymous No.19585277]

>>19585007
A coomer. Ngmi.

[Anonymous No.19585296]

>>19585237
Okay real talk I have no idea what any fo these numbers mean. I get it's a crypto but I've seen a few threads on this coin. What gives?

>>19585238
>>19585047
Won't let you darn dirty trolls ruin my lovequest to find a boyfriend free hedgefund. Zap them to the extreme McAfee

[Anonymous No.19585307]

Kill yourself you shitty fat hog poster. I'm 20yo from a European country where the average wage is €1400 and I have managed to get 19k LINKs($83k). Meanwhile you dumb ass americans live in the land of opportunity where there are endless ways to scam your way to make some good money and what do you do? You come here on biz whining about being a loser and then you have the audacity to post some fat slags. Thread hidden.

[Anonymous No.19585314]

>>19585277
This whole thread OP pretty much proved why he is a loser

>alcoholic
>coomer
He sabotages himself and that is why he is in such bad shape.

[Anonymous No.19585317]

>>19585265
Do I have to speak to a stock broker to properly invest?

[Anonymous No.19585322]

>>19585131
Well, then you should go to bed, you have to work tomorrow.

[Anonymous No.19585323]

>>19585296
thats the contract address bro, you can by it on uniswap

[Anonymous No.19585332]

>>19584568
ok who is this slampig

[Anonymous No.19585337]

>>19585277
If it's one thing I learned from lurking /biz/ is that most people are coomers here.

>>19585314
Honestly, I won't disagree with you. But is it that bad if me or any of the numerous lurkers seek advice or guidance to change their way around, if even for a moment? Isn't that better than being a NEET and jacking off all day?

[Anonymous No.19585338]

>>19585317
No, look up Vanguard on google and make an account. It takes some time to figure out, but doable as a normie. You need to understand what you’re buying, though. You will jump in and out when you don’t know what you’re doing. A financial advisor could be very beneficial to you, if you choose the passive investment route.

[Anonymous No.19585390]

>>19585322
Ha got the day off tomorrow. Still I'll keep your advice in mind.

>>19585323
I still don't know if buying glittercoin would be a reasonable return or if this isn't some alt scam. It's still interesting to observe

>>19585332
Wish I knew. I searched far and wide and haven't come up with anything.

[Anonymous No.19585414]

>>19585338
This may be tmi but I use to work at Amazon. A fulfillment center. Great benefits and perks at the expense of your soul. They automatically enrolled you in a 401k. I kind of lost touch with the company and especially Vanguard but since form your posts they deal with investments and I have money with them, can I allocate some of that money to other market areas?

I guess the real question should be should I contact them and see if they have my assets...

[Anonymous No.19585503]

>>19584881
I don’t do that but words of truth
People want to get rich but they blow it all on useless stuff the moment they get money

[Anonymous No.19585527]

>>19585337
COPE

https://youtube.com/watch?v=hv-ODnbbP7U

[Anonymous No.19585528]

>>19585503
This is indicative amongst the unwashed masses.

I haven't been surrounded by people good with money. Most coworkers and family members are either bad with money or don't share their monetary success (which makes sense).

[Anonymous No.19585556]

>>19585527
Heh

[Anonymous No.19585557]

you have shit taste on women anon

[Anonymous No.19585561]

>>19585414
If you plan to keep waging, I would roll it over to a Roth and put at least 10%, better yet, 15% if you can stretch it. You just want to ignore it for the scope of your life. Only other option is cash it out early if you can outperform 10%/yr gains with it The whole money printing thing is really the secret of the rich, but luck plays a big role and you most likely won’t be sitting at a computer running your own business. It seems you’re looking to stay the same but put your money in the right place. You just need to understand this is another 30 years of working for you. 10 years and practicing the right skill, you could own millions. But the easy route is always more appealing, isn’t it?

[Anonymous No.19585569]

>>19585556
>I don't care anymore
ngmi

[Anonymous No.19585642]

>>19585414
Also the reason it’s good to keep your money mostly in mutual funds because if it’s locked away in a roth, borrowing against it is usually always a Terrible idea. You can sell your funds and etfs and cash out any time. If you discover a gold mine and need funding, you can withdraw. It is all about risk mitigation, in the end, so 401ks are fueling the stock market by a large margin.
The punishment for ignoring a Roth, like I am (for now) is not benefitting from the tax deduction. If you’re paying 23% now, and in 30 years, the tax rate is 40%, you won’t be paying that, you withdraw with no income tax since you paid your dues when you put money in your Roth IRA which enables you to profit even harder over the next 30 years. It’s the safest route right now for normies. The cap is $6k/yr.

[Anonymous No.19585765]

>>19584644
https://www.investopedia.com/terms/t/technical-analysis-of-stocks-and-trends.asp

[Anonymous No.19585918]

I appreciate all your advice tips and criticisms /biz/. I am serious about escaping this wage slave hell but I do need sleep. Thank you all and hope you all make it on the other side.

[Anonymous No.19586032]

>>19585918
>alcoholic
>coomer
>goes to sleep at 4:30 am
Do the opposite of these things and you'll be successful.
>don't drink excessively
>don't be a coomer
>wake up at 4:30am