/biz/ - Business & Finance

[Anonymous No.24121459]

Just a reminder.

[Anonymous No.24121568]

I've known this.

[Anonymous No.24121580]

>>24121459
It's true. It's all true. I'm a midwit and I have a third of a million dollars just from spending a few thousand on stinkers. You have to be literally retarded to be poor in 2020.

[Anonymous No.24121624]

>>24121459
why are you telling us this? shoulnt you be posting this on pol? personally im up 1500% this year

[Anonymous No.24121625]

>>24121459
How much is considered rich?

[Anonymous No.24121639]

>>24121459
I'm pretty rich though thanks to link

[Anonymous No.24121677]

>>24121580
either we're smart or the rest of the world is retarded. i refuse to believe im smart so it can only mean the world will soon burn

[Anonymous No.24121700]

>>24121459
I was hoping this was the real headline. Disappointed.

[Anonymous No.24121721]

>>24121625

[Anonymous No.24121725]

I made nearly $100k on shitcoins twice this summer. Lost most of it both times before the crash. 6 figures was the goal.

How retarded am I.

[Anonymous No.24122002]

>>24121700
Depends on the kind of "luck" that is involved. Are we talking about "luck" akin to poker, according to which a good player would ultimately distinct itself as winner? How exactly was this "model" created anyway? Of course the headline is clickbait and most likely omits a few adjectives, saying it's "just luck," then also referring to "the wealth" (as if all wealth is equal), in order to trigger you. Or to appeal to your victim complex in case you're an eternal poorfag. Etc. Absolute cancer.

[Anonymous No.24122116]

>>24121721
well fuck me I am a 1%er thank you money belly

[Anonymous No.24122119]

>>24121459
buying bitcoin is not luck it's a choice

[Anonymous No.24122183]

>>24121721
> tfw 1%er in the age group above me

[Anonymous No.24122239]

>>24121580
I am basically retarded with no education and am rich now because of an anime frog worshiping image board. All because some people shilled the living crap out of stinkies 3 years ago. This board has litterally changed my life.

[Anonymous No.24122692]

>>24121459
>arXiv
anon, I...

[Anonymous No.24122818]

>>24121721
>60-64
>$16M
damn and I used to think that $10M is making it.
Fuck.

[Anonymous No.24122967]

>>24122818
if you have $10mil at 40 pretty hard not to have $20 mil at 64

[Anonymous No.24123090]

>>24122967
I suppose you're right
I have $2.1M at 30 I feel poor after looking at that image

[Anonymous No.24123156]

>>24122239
i was on /b when everyone was getting rich on link tryn be edgy <<<<<<<<<<<<<<<<<<

[Anonymous No.24123186]

>>24121721

tfw 26 with 260k, I feel like shit

[Anonymous No.24123332]

>>24123090
i spent 10 years trying to save and invest by waging but the gains at first are crazy good after 10 years they become percent wise negligible.
never managed to make my money work for me.
so i'm going full hodlnaut now.
if that doesn't work i will die poor.

[Anonymous No.24123439]

>>24121721
Any source? I see alot of different tables like this, some include homeownership some don't.

Also 22 at 200k+ so idk what that makes me.

[Anonymous No.24123486]

>>24121568
both look at about the same level

[Anonymous No.24123618]

Tfw 24k at 31 and living at home

I’m not gonna make it, am I?

[Anonymous No.24123694]

>>24121677
Downplaying you’re own intelligence is a sign of higher than normal iq.

[Anonymous No.24123703]

>>24121700
>(((lucky)))

It was just luck goy!

[Anonymous No.24123754]

>>24121721
>tfw only 95th percentile
how am i ever going to get a girlfriend

[Anonymous No.24123762]

>>24123186
whats your 260k in? the reason why I ask is because you are in a very good position. its not a cliche that your first million is the hardest. once you breach the million mark you will be amazed at how easy it becomes to make big amounts of money.. the key is to not sell too early

[Anonymous No.24123789]

>>24121580
>I have a third of a million dollars
so you have 300k
nice language retard

[Anonymous No.24123790]

>>24121568
she's average at best

[Anonymous No.24123854]

>>24123762
i'm over a million and it feels like a slog still. when the fuck will crypto moon for real

[Anonymous No.24123925]

>>24123090
>>24122967
>>24122818
>>60-64
>$16M
these are plenty of inheritance fags getting land and shit. Of course, among them there are also people like us who make it from investments.
If you made it into 1% by 35 with $2.3M you need an annual return of like 7-8% to be one of those with $16M@ age 60.

Of course, it's a bit on the high end but this is the 1% big boy club. Even with a return of 3-5%, you will still be living allrigth. Just not in the 1%.

[Anonymous No.24123929]

>>24121459
Yeah, that image is spot on. I'm a midwit/retard and took the "higher education" route because people told me to. "Gifted" in grade school through high school means fuck all.

I definitely took the dumbest fucking life/career path like a sheep. I'm hundreds of thousands of dollars deep in student loan debt now. Not worth it for a desk job career. When you're young and middle class you follow the "go to college" "go to grad school" path because your parents tell you to and it looks good to your midwit family. "You can pay the loans back later, it took your dad decades to pay his back." Turns out higher education costs more now than when dad went to school. Like exponentially more. College/higher degree was a huge, huge mistake and I will never financially recover from it.

[Anonymous No.24124074]

>>24121700
Me too. Completely Based. Im framing this.

[Anonymous No.24124096]

>>24123854
>when the fuck will crypto moon for real
cmon man can you seriously not recognize what we are on the precipice on? you have a million now, if you're in the right coins and hold that will be probably 5-10 million this time next year.

[Anonymous No.24124116]

>>24121721
96 almost 97 here. il take it

[Anonymous No.24124128]

>>24123929
I dont get people who say this. I never paid a cent on my student loans. $150k in debt but it doesnt mean anything if you dont have to pay it.

[Anonymous No.24124187]

>>24121721
>95th percentile at 29
>will probably never reach 95th percentile for 34
Feels bad being in low-6-figures hell

[Anonymous No.24124266]

>>24121721
I'm in top 4%. Great.

I do feel like I slacked on investing until this year but im up over 100% since April and I have no debt now.

I think if I continue on this path I setup I will be rich by the time I'm 35.

One thing it seems a lot of people do here is buy shitcoins. Maybe it works 1 in 20 times that somebody gets rich but I find stocks much better for making money. I'm never touch in crypto again

[Anonymous No.24124313]

Made it large from BoringDAO.

Lost it all swinging ETH.

FML

[Anonymous No.24124347]

Im not rich because Im retired and gave up making additional money. All my money now goes to investing in myself. My passive income is quite low though

[Anonymous No.24124454]

>>24122002
"Luck" is relative, just as "wealth" is. A man who's been destitute his entire life only to receive $100,000 would feel immensely rich, especially if he could stretch that sum over several years in a country that wouldn't suck it dry. $100,000 by American standards, however, would barely get a 3-4 person family through half a year in the states, but this largely is dependent on debt obligations, health conditions, "locality convenience" where the family is geographically placed somewhere with access to jobs and is relatively safe from natural or artificial disasters, and of course taxes.
>How exactly was this "model" created anyway?
Read the article. It explains the methodology in the 10th paragraph.
>Of course the headline is clickbait and most likely omits a few adjectives, saying it's "just luck," then also referring to "the wealth" (as if all wealth is equal), in order to trigger you.
No, they go into detail about how they modeled luck. Getting rear-ended at a traffic light by someone going 45mph while you're at a dead-stop only to cripple you for life is unlucky just as much as landing a job at a large firm because your would-be boss ate a particularly good sandwich prior to meeting you is lucky. Wealth transfers tend to be large amounts of sums passed in short amounts of time.
Humility doesn't seem to come naturally to you, but it will in time. It happens to all of us. Momento mori.

[Anonymous No.24124510]

>>24124096
my net worth isn't entirely crypto - only like 600k in right now. btc, eth, link. yes, i know what's coming. i'm just impatient, kek

[Anonymous No.24124525]

>>24124454
>$100,000 by American standards, however, would barely get a 3-4 person family through half a year in the states
opinion discarded

[Anonymous No.24124565]

>>24121700
That headline is stupid, intelligence is heavily correlated with wealth

[Anonymous No.24124580]

>>24124510
lol i see what you mean. yeah i'm the same, been in link and knew it was going to be big since 17. the bear market was the biggest blessing since it gave me time to slowly go all in without feeling like a gambling degenerate. next year should be fun, i wouldnt be surprised if link is $40 by EOY desu

[Anonymous No.24124619]

>>24124525
>>but this largely is dependent on debt obligations, health conditions, "locality convenience" where the family is geographically placed somewhere with access to jobs and is relatively safe from natural or artificial disasters, and of course taxes.

[Anonymous No.24124690]

>>24124565
Ah fuck, I'm as rich as I am smart and I got like £20 in the bank

[Anonymous No.24124713]

>>24124619
so you are saying the vast majority of people need to work to earn a living.. thank you for your insightful comment. in the context you put $100,000 not lasting a year you make it seem as if 100k is coming in every year and that is not enough to get by half the year. yes, most families cannot live off passive income of $100k, thats so retardedly obvious it doesn't need to be stated. its equally retarded to think 100k would only last 6 months in the US.

[Anonymous No.24124732]

>>24121721
What happens after 60-64, the wealth starts to go down?
i-is the top 5% really wage slaving until retirement? seems fucked up desu, even the 1% are doing it.

[Anonymous No.24124739]

>>24121721
>95th for 20-29 and rapidly approaching 30
>At my current savings rate, I'll be >34 before reaching the 30-34 95% mark

[Anonymous No.24124764]

>>24121459
There are many intelligent anti-capitalists. Terry Davis was smarter than the entirety of this board. He died homeless.

[Anonymous No.24124765]

>>24121459
Did an MIT tech review really use the word “fucking” in a publication? Cringe

[Anonymous No.24124778]

>>24123789
>1,000,000*1/3 = 300,000
>retard

[Anonymous No.24124785]

>>24121721
> 98th percentile
I am doomed to a life of inadequacy.

[Anonymous No.24124824]

>>24121459
Younger people in general are more culturally aware of crypto. It doesnt make them high IQ anymore thanaboomer who bought their first stock 30 years ago and saw "number go up".

[Anonymous No.24124960]

>>24121568
lol it's Elizabeth "crazy eyes" Holmes. She was essentially his puppet while she pretended to have some new medical technology. Pajeetery at its purest.

[Anonymous No.24125004]

>>24124778
he probably deducted american tax for having third of a million dorrars already, you know gov wants those 33.33333k for themselves

[Anonymous No.24125024]

>>24124713
Fine, $60k? $30k? The point is the poorest man would see it as wealth. It's relative.

[Anonymous No.24125477]

>>24121700
I don't remember the details but all they did was make some toy model bouncing balls off each other or something like that with like 3 parameters and when they get a pareto distribution they're like "dang i guess wealth is luck after all!" Shit like this is why I never trust """science""" journalism

[Anonymous No.24125821]

>>24124732
after 60-64 people retire and start spending some of their savings

[Anonymous No.24126088]

>>24125004
he didn't he's just a system 1 brainlet

[Anonymous No.24126383]

>>24124732
10m is made it tier you are supposed to spend recklessly after that