/biz/ - Business & Finance

[Anonymous No.20508024]

>Finally have $150k in the bank with no debt
>Finally realize just how poor I really am

[Anonymous No.20508062]

>>20508024
>$150k in the bank with no debt
puts you in the top 1% off the world

[Aaron No.20508098]

OMG
Bro, you are actually so privileged. It's obvious you are, otherwise you wouldn't be posting here. Most Americans and most people on this PLANET do not have anywhere near to your networth. What's with this image you posted? Is that supposed to be how you feel? Seems REALLY RACIST to me. Don't you know all the oppression and violence black people have had to deal with? If that man had had half the chances you've had in life, he'd be a millionaire by now. Think about it.
–Aaron (he/they/them)

[pottery No.20508129]

>>20508098
I dont know what this poster is talking about but SHE doesnt seem to know much.

[Anonymous No.20508134]

>>20508062
top 1% is nothing considering 85% of the world population is chinks, streetshitters, arabs, niggers, and other sub-human races.

only top 0.001% is made-it tier

[Anonymous No.20508150]

>>20508024
Put it into a shitcoin that will x10 and then stake it and retire

[Anonymous No.20508228]

>>20508150
Retire with 1,500,000? Maybe at 75..

[Anonymous No.20508269]

>>20508228
Ngmi

[Anonymous No.20508492]

>>20508150
It took me 10 years of wagecucking to save up that money and get out of debt, you think I'm gonna risk it on a shitcoin? I'd rather put it all on red 4 times in a row than speculate with shitcoins

[Anonymous No.20508603]

>>20508024

The first 100k is a fucking nightmare. The first million is very hard. Three million's work. It gets easier and easier after that.

You have gotten further than almost everyone alive on the planet and it only gets easier from here.

[Anonymous No.20508649]

>>20508024
>150k in the bank
>with no debt

bro, you're not poor, just retarded.

[Anonymous No.20508816]

>>20508649
>hurr get debt at 3.5% and invest it at 8%

fuck jews fuck debt fuck niggers and fuck the ATF

[Anonymous No.20508849]

>>20508816

Ok I take back my earlier encouraging statement

Fortunes are created with leverage, and the two biggies are time and debt. If you can borrow $1m and make $2m with it, you end up with a free million.

[Anonymous No.20508886]

>>20508492
Lots of people here have more than you in Link. They also made all that money pretty much over the last 18 months. Stay poor you ugly faggot.

[Anonymous No.20508918]

put 10k on ampl and make it

[Anonymous No.20508927]

could be worse OP

>$1000 in bank
>$1600 on CC
>$9400 all in crypto and rlc keeps dumping

hooray.

[Anonymous No.20508935]

>>20508849
fortunes are also destroyed with leverage
why don't the banks "make a free million" if it was so easy, instead of giving it to you for a few thousand interest? Because there's a high risk that you'll fuck it up and end up being a slave for the rest of your life

[Anonymous No.20508942]

>>20508849
Leverage is cope for people that can't actually buy assets. They're also retards getting BTFO by the current pandemic.

[Anonymous No.20509081]

>>20508935
>Because there's a high risk that you'll fuck it up and end up being a slave for the rest of your life

Are you literally retarded

First, banks DO do that, through venture financing. Further, they have access to Fed rates and offer rates that are always higher than the rate they borrow at. So they are almost guaranteed profit.

Further, if you're going to borrow a million, you incorporate an LLC for a thousand bucks and it does the borrowing. If you somehow, SOMEHOW manage to lose 100% of the money, the company goes bankrupt and you're fine.

Even if you are the biggest brainlet in the history of humanity and take a $1 million dollar personal loan and somehow lose it all, you go bankrupt and you're free in a handful of years.

>>20508942
>getting rich involves risk!

Stay poor, friend

[Anonymous No.20509238]

>>20509081
>banks DO do that
OK tell me how to get a loan at the fed rate please. No? So they DON'T do that.
>incorporate an LLC
no sane bank is going to give your shitty freshly founded assetless LLC a million bucks loan retard. You'd have to show history of payments and revenues, etc. And they'll most likely make you co-sign, or just get the loan in your personal name.

[Anonymous No.20509275]

>>20508024
>2k in checking
>1.2k in savings
>$300 in link and other
>$100 in stocks
>low paying job
>live with family
>still need to pay for classes for next fall
Other than money, life is comfy ngl

[Anonymous No.20509282]

>>20508129
That anon is a man.
and sounds like a communist.

[Anonymous No.20509283]

>>20508024
Same thing happened to me when I hit 100k I went through a week or two of depression
Best you can do is to keep fighting the good fight

[Anonymous No.20509301]

>>20508492
>doesnt want to take high risk
stay poor wagie

[Anonymous No.20509393]

>>20509238
>OK tell me how to get a loan at the fed rate please. No? So they DON'T do that.

Let me recap

me:
>borrow money and get a large return: the spread between the two is free money!
you:
>hur de hur hur durhur banks don't do that
me:
>yes they do, they borrow from the fed and loan out at a higher rate, the spread is free money!
you:
>dur dur de dur if I can't get that there's no point durrr

Christ, you ARE poor.

>no sane bank is going to give your shitty freshly founded assetless LLC a million bucks loan retard.

Holy fuck, you didn't know about the spread between Fed rate and bank prime, but now you're an expert on how business loans work!

Actually, that IS how it works, they don't make you co-sign, your personal financial history is relevant but if you've got $150k in the bank they'll lend you a million no questions asked.

This is because people who know how money work make a decision based on a relatively small set of numbers that evaluate the bank's risk in lending. They start out with the spread between their rate and the rate they're going to offer you. Then the applicant's history is considered -- a guy in great financial shape, say who's extremely liquid and has a good history, reduces their risk. Then there's an evaluation of your proposed business, which under a couple mil is basically a moderately informed gut check by the loan officer. Low risk, high upside -- here's your check! That's how you get a business loan.

It actually is that easy. The system is set up to make it easy to get rich. You need to get out of the mindset of poverty.

[Anonymous No.20509409]

>>20508886
Why so mean, anon? I will add that I’ve a 3rd of that and it took me 18 months and I started with absolutely nothing, figurative and literal. In response to the anon you replied to, he’s a faggot.

[Anonymous No.20509636]

>>20509282
I wouldn't call them a man, with shit opinions like that. As a people, Nigs and hajis pretty much get what they deserve. If they act ignorant and don't try to succeed in life, most of their people end up in gangs and militias, or blowing their asses to god knows where in the name of a fake sky genie.

[Anonymous No.20509673]

>>20508024
Nigga most people don't even have $10k in their bank accounts. You're 15x up on them. Stop being so greedy.

Also, get some of that useless cash in the crypto markets and start buying low caps like EPIC.

[Anonymous No.20509679]

>>20508024
Very wise and based anon. But the very fact you got here means you can get to the next step.

[Anonymous No.20509695]

>>20508886
Kek be real. Lots of people here larpfolios and are a part of the link pnd manipulation crew
>ITSSSSsHAPEENING 2@NIGHT!
I'd rather be poor forever then join you garbage shitbirds. Awful people

[Anonymous No.20509718]

And now you also understand just how poor everyone else is too. It is lonely in the middle. Welcome, friend. Not many stay here long.

[Anonymous No.20509767]

>>20509393
The difference is that banks are the middlemen between the fed and you, so it's much easier for them to make a profit

>they'll lend you a million no questions asked
No they fucking won't dude, if they would I'd just pocket that million and then close down the LLC

They would lend the LLC 150k, 200k max (knowing its owner's history). Maybe after a year or two of seeing the plan is being followed they'd give it 400k. But a million right off the bat, no way

[Anonymous No.20509786]

>>20508098
Nice bait

[Anonymous No.20510055]

>>20509767
>The difference is that banks are the middlemen between the fed and you, so it's much easier for them to make a profit

Yes, that's a good thing. The baked-in spread means their risk per loan starts out lower than it is for a private citizen, which means they can tolerate more risks and make more loans. Which means more people can start businesses.

>No they fucking won't dude, if they would I'd just pocket that million and then close down the LLC
>
>They would lend the LLC 150k, 200k max (knowing its owner's history). Maybe after a year or two of seeing the plan is being followed they'd give it 400k. But a million right off the bat, no way

Sounds like your expert ass just realized you can walk away with a couple hundred thousand with just about zero effort if you wanted to. Congratulations! Start making money.

That said, I personally know a guy who has been legally scamming banks for years on "construction equipment leasing companies", just a wonderful cycle of start business -> buy equipment -> pay self salary until bankruptcy -> bankruptcy, lose most (but not all) equipment to creditors -> fold business, start new business with remaining equipment as collateral -> get new loan. Heavy equipment holds its value well, so he's always got collateral. His motto: "If you owe the bank a couple thousand, you've got a problem. If you owe the bank a couple million, they've got a problem."

[Anonymous No.20510441]

>>20508927
Let me guess, you didnt buy link

[Anonymous No.20510494]

>>20509393
Except actual rich people don't take risks. Risk gets offloaded to the poor.

No wonder you're a poor loser posting on 4chan giving "advice" on how to become rich.

[Anonymous No.20510568]

that wall/cardboard setup doesnt look very comfy. at least lay down. youre a fucking bum! lay down and relax big guy.

[Anonymous No.20510593]

>>20508098
kek. made my night. now I can get some rest

[Anonymous No.20510613]

>>20510055
>scamming banks
I love it.
Tell more stories

[Anonymous No.20510691]

>>20508024
You can do a lot with that money.

[Anonymous No.20510709]

>>20508062
Not if you adjust for cost of living.

[Aaron No.20510732]

>>20510709
Having the high quality of life we have in this shit hole country is literally a human right.
–A

[Anonymous No.20510841]

>>20508024
having $100k-$1MM is worse than having less or more. you realize how insignificant you are and that you’re so far from making it

[Anonymous No.20510870]

>>20510494
>Except actual rich people don't take risks. Risk gets offloaded to the poor.

Jesus Christ, you are going to be poor forever. The yield on an investment is proportional to its risk. You risk losing in order to gain. The poor take no risks ever. They get some shitty job and then they go to it until they die.

>No wonder you're a poor loser posting on 4chan giving "advice" on how to become rich.

Tempting to post my shitcoin portfolio, so you can try to say 6 figures aren't much, as the jab before the uppercut of the Boomer index fund portfolio where I have parked gains since 2017. (which themselves are up ridiculously these days)

>>20510613
>Tell more stories

That's pretty much it, I know one other guy who's a serial entrepreneur, he's had 6 or 7 companies go bust but he just starts new ones.

[Anonymous No.20511245]

>>20508098
kek

[Anonymous No.20511296]

>>20508024
yeah its crazy dude 150k is absolutely nothing now

[Anonymous No.20511314]

>>20508886
this is the truth OP, it hurts but its very true. and it would be smart of you to get at least a suicide stack (1,ooo links)

[Anonymous No.20511365]

>>20511296

lmao what's wrong with you guys. going from $0-150k is harder than going from 150k-1m, and that's harder than going from 1m-3m

[Anonymous No.20511524]

1.5kg of gold
5kg of silver
100k in cash
50k in bank
50k in stocks
10k in munitions.
I'd trade it all for some arable land.

[Anonymous No.20511737]

>>20510870
I got 6 figures worth of link and it's literally nothing. You are poor and don't even know it. Sad.

[Anonymous No.20511850]

>>20511737
if 100k is literally nothing then why dont you give it away faggot. yeah, that's right.

[Anonymous No.20512051]

>>20508024
>tfw only have about 300k
The system is just rigged against us. What's the point in even trying anymore?

[Anonymous No.20512120]

>>20508886
you haven't made anything till you sell it
which you can never do
because you are married to your shitcoin haha

[Anonymous No.20512127]

>>20511737

You don't have to stay poor, Anon. But you should learn the basics of how to get rich first. Me, I bought my home cash, and I'll continue increasing my wealth, if that's alright with you.

inb4

>b-b-b-but c-c-c-canadian

[Anonymous No.20512291]

>>20512127
>>20511737

And, I should add, I got here by maxing out my line of credit to buy BTC and ETH, pretty much entirely missing LINK unfortunately, and taking profits at every 3x to stuff into Boomer mutual funds which, thanks to Trump, themselves kept going up. Also, so far I'm up $350k this year, just from going into money market funds for the corona dip and buying back in after the bottom. Most profitable two phone calls I ever made.

Now I play with shitcoins for fun.

But it started with me deciding BTC and ETH were going to be huge, working every hour I could get at a shit grocery store job, and constantly maxing my line of credit to get every single BTC and later ETH I could get my greedy hands on. I could've done better. I pussied out after BTC crossed $11k and cashed out, so I could've almost doubled, if I'd taken LINK seriously I'd be worth 8 figures USD right now, but if I had been wrong, or too stupid to take profits appropriately, I would've been bankrupt and financially ruined.

So yeah, you get rich by taking risks and leveraging.

[Anonymous No.20512322]

>>20508024
Dollars and euros / bank credit is worth nothing you are indeed poor

[Anonymous No.20512360]

>>20508228
I could retire easily with less than a mill and I'm 27. My friend hasn't been doing shit for 3 years after he got a 150k€ inheritance and he lives almost 100% with his passive income. You're just a greedy fuck.

[Anonymous No.20513236]

Have around 5k at 21, how can I make it?
>inb4 work
I am working and going to school

[Anonymous No.20513469]

yeah imo money isn't that awesome until you're a multimillionaire :/ not like you can retire early on anything less than that realistically

[Anonymous No.20513500]

>>20510841
this is it chief

[Anonymous No.20513545]

>>20512127
nice anon im proud of u