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/biz/ - Business & Finance

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22005653 No.22005653 [Reply] [Original]

all debt is bad
do not question me

>> No.22005866

>>22005653
He’s not wrong

>> No.22005883

>>22005653
Even if you have no debt, why the FUCK would you put any money into highly speculative crypto "moon shots" before you have maxed out your annual Roth IRA contribution? Absolute stupidity.

>> No.22005902

leverage debt into bitcoin or you're a pussy

>> No.22005905

>>22005883
you mean regular ira?

>> No.22005943

>>22005883
wtf is a roth ira
never worked a day in my life
14k link

>> No.22005974

Roth IRA is for old money. Old money dies with cryptos birth

>> No.22006093

>>22005653
Imagine being a Millenial and taking this Boomers advice

>> No.22006191

Debt is bad if you are the average american. Most people can't handle debt well and get absolutely smothered by it to the point of desperation. That is who he is reaching out to when he says that. A lot of people would benefit if they had no debt and contributed to some sort of retirement fund

>> No.22006229

>>22005883

>Thinking you'll live long enough to access your pension fund

This will be the last century for humanity, no matter how you look at it. Every single trend is hyperbolic. Everything is going up, faster and faster. More of everything good, more of everything bad. At some point, civilization is going to be torn apart. Nuclear war. AI. Bioweapons. EMP. Weapons we can't even conceive will be deployed, months after they're discovered. Cybernetics and genetics will change what it means to be human. Even traditional mind control in the media is becoming incredibly powerful.

Either you'll die or become something more. Either way, pensions aren't going to matter.

>> No.22006300

>>22005653
prove him wrong faggot

>> No.22006418
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22006418

Millennial here, did the full Total Money Makeover and paid off over 40k in debt, in about 6 years.

Now I know what you are thinking, "Fuck you larp" and thats fine, but i gotta tell you, coming from a debt lifestyle, and now having lived the debt free lifestyle...

Debt makes you no better than a cotton picking nigger in the slave days.

I have 6 months of expenses just chilling...

and NO BILLS.

So fuck you cunts, leave Uncle Dave alone, hes done more good for my life, than almost anyone.

>> No.22006592

>>22006229
You can pull out the contributions at any time penalty free..

>> No.22006616

>>22005653
debt is fine if you put it into appreciating assets that appreciate higher than the interest

>> No.22006665

>>22005653
Dave is great for finance illiterate boomers. Us frogposters though are prepping for the next financial system and are already debt free.

>> No.22006708

>>22005653
Debt is a multiplier on returns. It's only bad if you're retarded.

>> No.22006817

>>22006665
Agree but unless his investment advice is beyond retarded. Shills mutual funds.

>> No.22006933

>>22005866
unironically this

>> No.22006956

>>22006817
Whats wrong with mutual funds?

>> No.22006958

>>22005883
lrn to barbell nigga

>> No.22006989

>>22006956
Not risky enough for the big dawgs.

>> No.22007000

>>22006229
>not teaching your kids this shit, showing them your portfolio, and assuring them if they fuck it up they won't see a dime

>> No.22007028
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22007028

>>22006418
>paid off 40k in 6 years
>thinks that’s impressive

>> No.22007040

>>22006956
It’s really the people he endorses, “smart vestor pros”. They push awful products on crayon eaters that can’t figure out how to start they own investment accounts.

>> No.22007140

>>22005905
There is no point of a regular ira.

>> No.22007282
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22007282

>>22006418
>40k in 6 years
What do you make minimum wage or something. Go make me a sandwich wagie.

>> No.22007330
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22007330

>>22007028
Fair enough Anon, I suppose I should have clarified, the 6 years involved multiple failed attempts and even some reversal, and additional debt.

The impressive part, wasnt the amount of debt i paid, but the work it took to stick to it, and not add more debt during the process. Its surprisingly easy to make minimum payments so you can eat out, or get a bag of coke.

That said, laugh it up, I doubt very much you are in a better spot than i am.

>> No.22007352

He's literally right and the average person should NOT touch debt. Btw I got a 50k loan from the government with an interest rate below inflation because of the pandemic kek

>> No.22007395
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22007395

>>22007282
sysadmin for a fortune 500 company. I do ok.

You must not understand what debt vs expenses are tho.

Ill make a sammy, but only because i know you only attack me out of hate for yourself.

>> No.22007514

>>22007395
based

>> No.22007604

>>22005653

Sometimes you can exaggerate for a good reason. It's like speaking to alchoholics. You don't say

>Oh yeah, a glass of red wine a week can be good for cancer but you should always drink in moderation

You say: Stop fucking drinking you retard. It's expensive and it kills brain cells and your liver.

>> No.22007607
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22007607

>>22007395
Wagie cagie