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/biz/ - Business & Finance

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25717489 No.25717489 [Reply] [Original]

>tfw my net worth grew by 150k in 2020

>> No.25717789

>>25717489
How much did you start with?

>> No.25718142

>>25717789
-150k kek

>> No.25718284

>>25717489
i didnt make any money
life is suffering

>> No.25718323

>>25717489

Happy for you anon, mine only grew by 30K but money is money.

>> No.25718421

>>25717489
Are you me anon. Mine grew 140k last two months. Fucking surreal.

>> No.25718775
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25718775

my pp grew smol amount last year

>> No.25719015

I started the year with $7,000 in credit card debt and only a few thousand in crypto. I now have over $100,000 in crypto but my credit card debt has risen to $16,000 because I feel like it would be a huge waste to cash out a significant chunk of my portfolio to pay it off. Has anyone else been in this kind of situation?

>> No.25719186

2K pigmy race

>> No.25719194

happy for you pal

>> No.25719230

>>25718284

How?!

>> No.25719237

>>25717489
>tfw lose a bitcoin trading a bear market
>tfw only have one now
>tfw would have had more if I didn't waste money on college
I want to kill myself

>> No.25719325

>>25717489
nice one anon. I went from 6k cash to 1.8 btc and 3 eth this year. 50k+ networth is the most money I've ever had

>> No.25719335

>>25719015
Same anon. Exact same.
It's what they call "opportunity cost'. Lots of faggots go on an on about removing debt before growing capital, but I think that if you have a good sense of what your debt is, and it only grows 5x slower than your profit, you have used your capital well.
Lots of smart investors take loans to sustain investments they are confident in, you just need to make sure that you hit a point where you start drawing down profits and begin paying off debt. God speed anon.

>> No.25719378

>>25719015
>>25719335
What do you guys do about the min pay per month and bad credit scores if you don't pay it off?

>> No.25719392
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25719392

>>25719237
You still have one left anon. That's more than a lot have. Imagine the boomer seethe if they found out you have one when it hits 100k.
Let this sustain you

>> No.25719431

>>25719378
ALWAYS PAY THE MINIMUM.
Jesus anon, it's ok to have credit and debt, but defaulting on payments is not at all what you want to do. If you are confident (as I am) that the bullmarket is not yet over, continue paying the minimum debt service, and just let it ride.

Do not get bad credit ratings for this, because it could severely fuck you years later.

>> No.25719934

>>25719431
Fuck I followed the Dave Ramsey style of using cash because I'd spend less and paying off debt but I knew it was a pussy way of doing it. Alright anon I'll think about it

>> No.25719997

>>25719015
Everything but BTC is a gamble. Sell off your dept , you lose only 15% in the worst case

>> No.25720864

>>25719934
That's his name I forgot for a second. That shit is for boomers who think a 1percent savings rate is a HIGH INTEREST SAVINGS ACCOUNT. Don't buy a fucking jetski, and you will be ok.