/biz/ - Business & Finance

[Anonymous No.26292110]

Anyone have solid financial advice for a poorfag to start on a path to make it?

[Anonymous No.26292192]

>>26292110
1. Get off biz. It’s literally 100% scams.

2. Buy bitcoin and hold it long term. Dont trade. Dont be sad you dont have a lot. In 10 years whatever you bought will be a lot.

3. Buy commodities stocks. Oil and natural gas stocks. Materials, etc. OXY 2027 warrants are cheap.

[Anonymous No.26292223]

>>26292110

If you're a poorfag, unfortunately all you have is the "wage and save money" path. It takes a few years but you can dig out. Don't gamble on shitcoins, don't gamble in general, just save save save.

[Anonymous No.26292264]

>>26292223
What am I saving for, exactly?

[Anonymous No.26292267]

>>26292110
define poor

>>26292192
solid advice, but why OXY??? what the hell Youre aware biden just got into office?

>>26292223
you can still make money along the way

[Anonymous No.26292328]

>>26292110
Take your paycheck each month after expenses and put 30% of it immediately away into a high interest savings account (not that they really exist rn, but like 2% would be good). With the other 70%, put half of that into blue chip stocks or ETFs (think Apple, Amazon, Johnson&Johnson, 3M etc). Put another 25% of that 70% into SPY (it's an ETF). This won't get much, but you should get around 5-20% a year depending on the broader market.

Finally, with the rest, just buy BTC/ETH/LINK. Don't listen to any pajeets trying to scam you with bullshit coins here and there. You will see people talk about 1000x on RBC or whatever, but 99% of the time it's LARP, and the 1% who make it are just lucky from RNG.

Your value will increase very steadily over time. You aren't gonna buy a lambo anytime soon, but in 3-5 years you'll have probably accumulated another 50-100% of your principle in diversified investments. Keep that up over a lifetime and you'll retire at 50.

Just don't do the day trading shit you see people do on here. You will treadmill, I guarantee you. +1000 today is just another 1000 you can lose tomorrow.

[Anonymous No.26292394]

>>26292328
Thanks. I'll look into all this.

The problem is that it appears I need money to make money. If "six figure hell" is a thing, then I don't know what this is. It's like being trapped in a well with no way to climb out. All I can do is save every penny I earn, and put those pennies into those stocks/coins like you're suggesting, but I still don't feel like it'll be enough to earn anything.

[Anonymous No.26292448]

>>26292267
Cheap warrants trading under oxy+

[Anonymous No.26292457]

>>26292394
how do you not have money after all the gibs the gov gave out? I alone got almost 20k in unemployment money I then put into the crypto market, before that I only habe mayb4 k saved

[Anonymous No.26292482]

>>26292110
Invest in yourself by picking up a habit of reading books. Like >>26292192 said, don't spend 99% of your time on /biz/, you can downgrade that down to 20% max and still reap 80% of the fun you had on the mongolian basket weaving forum. You can even limit the hours you surf /biz/ when all the scammers are asleep.

[Anonymous No.26292512]

>>26292482
Do those books really help? I'm genuinely asking. I've never read any of these kinds of books before.

[Anonymous No.26292542]

>>26292264

That depends on what your criteria is for "making it". You are saving up capital to use it to "make it", whether that's buying a house or investing in stocks.

You saved up 10k? You haven't made it, you'll still probably have to wage to pay rent/mortgage and it's not enough to invest to really see any "making it" gains.

You saved up 50k? Great, you can buy a new car and a down payment on a house and are then left with not much and still have to wage.

You saved up 100k? Pretty much the same as above.

You saved up 500k? Well well well anon, the world is starting to become your oyster.

[Anonymous No.26292576]

>>26292394
Of course you need to have money to make money. Even all of those people who invested 4-5k into BTC in 2013 were gambling. Yeah, it paid off, but I'm sure for every person who won out there got turbo fucked by whatever snake oil was being sold at the time.

The point that I'm trying to make to you is look at building wealth as a lifestyle and not an achievement. One day you won't "be wealthy." You will instead develop really strong financial habits that will serve as the foundation for your life.

Furthermore, you know the value of the dollar. So many of these people on biz who ARENT larping are just rich and they started out with 20-30k from parents/inheritance or whatever. I'm not saying it's better to start with nothing (it isn't lol) but there is value in understand what a dollar is worth. This way you won't dump $1k on pajeet coins like me off a whim. You don't want to be doing that shit, trust me. And if your'e new to investing in general it is REALLY easy to invest in bad stocks or try to time the market--you can't.

[Anonymous No.26292685]

>put 100% of your income into Bitcoin
>transfer it into Nexo
>take out a USD loan off your bitcoin, send it to your crypto cashback debit card of choice
>cut your monthly expenses back as tight as you can
>pay your bills with your crypto cashback card
>in 1 year you will have 1 year worth of income in bitcoin and owe a small loan in your living expenses

[Anonymous No.26292724]

Buy Apollo Protocol at launch

Compound your AOX on the dApp
Repeat until you are worth $1mill USD in about 1 to 2 months.

[Anonymous No.26292735]

>>26292576
Thank you. It's frankly discouraging to see people on /biz/ get filthy rich off crypto while I'm not eating one day just so I don't have to spend the money. The money I do have to invest is just... not enough to make much of a return on any of it. I'm in the process of looking for a better job and hopefully can save/invest more if I get one.

[Anonymous No.26292765]

>>26292110
>buy quality kneepads
>wear them
>visit secluded highway rest stop
>wait in men's room
>say aloud, "no homo."
>suck cocks $1.00 each
>suck 1 million cocks
>be millionaire
you're welcome

[Anonymous No.26292783]

>>26292576
Based advice

[Anonymous No.26292801]

>>26292192
>1. Get off biz. It’s literally 100% scams.
This is 100% wrong. I've made more from /biz/ shilling and getting in early on projects than I ever would have without it.

[Anonymous No.26292852]

>>26292110
People naturally improve what the measure. Measure your total net work, add it up and calculate it in a spreadsheet or a notepad or whatever at least once a week. Things will naturally happen once you do that for a couple months.

[Anonymous No.26292885]

>>26292512
Absolutely, I'd recommend this book for example, it's an easy read. It's on Amazon Prime so if you have a subscription you can literally start reading it right now. I'd recommend getting a dedicated eReader like Amazon Kindle Oasis, don't skimp out on it, something about having a device that's built for reading helps you focus on it and you'll be enticed to use it since you've spent some good money on it. My local library also allows me to check out eBooks to my Amazon Kindle and it works seamlessly.

[Anonymous No.26292915]

>>26292482
OP if you read the Richest man in Babylon which is like an 80 page book just with the most basic ideas on how not to be stupid with money you can make it. I've read the Intelligent Investor on old /biz/'s advice and it really changed my life.

[Anonymous No.26292974]

>>26292885
>>26292915
Thanks a bunch for these recommendations. I can't afford a kindle, but I'll read them on my phone or laptop.

[Anonymous No.26293026]

>>26292542
at 500k the world is already your oyster idk what crazy money world you live in, realistically 30k is big game for majority of people

[Anonymous No.26293041]

>>26292801
I wouldn't say its 100% wrong. Definitely research anything you see. Sometimes there is solid advice

[Anonymous No.26293071]

>>26292974
I recommend you go through a one-week digital detox.

1. Buy a Kindle Oasis
2. Get an Amazon Prime subscription
3. Setup an account at your local library so you can checkout eBooks
4. Go on a one-week digital detox. Only thing you'll do during this week is reading books and working out. If you have to work or study, then leave your house late and arrive early, the rest of your time is reading books or getting /fit/. https://yuki.la/fit/44873326

Never pirate books, either buy them or borrow them. This scarcity mentality will encourage you to take books seriously and to read them. You can also get the Kindle app on your phone and read books while you take a dump in the toilet for example. Stop wasting all your time on 4chins and news. You'll quickly realize how meaningless fluff the content on these websites really are.

You don't have to give up 4chan, you see me posting here don't you. But I get 80% of the "entertainment" I get from 4chan by only having to spend 20% of what I previously spent here. You can double that by only surfing 4chan when all the scammers are asleep.

Invest in yourself. Start reading.

[Anonymous No.26293120]

>>26292110
Put $25 in a coin and practice buying low a selling high and you’ll have $100 in no time. Get good at it and you’ll have $1000 and so forth.

[Anonymous No.26293140]

>>26293071
OP is poor remember, kindle oasis is like 200-300 €/$

[Anonymous No.26293144]

>>26293071
Unfortunately I will have to read them elsewhere. I can't afford a kindle and I don't have a prime subscription. I can't really afford that either and I'd only use it to buy stuff I don't need to buy. I'll also have to pirate those books unfortunately, if possible anyway.

[Anonymous No.26293226]

>>26293140
>>26293144
At the very least I encourage you to borrow them from your local library or university. It doesn't have to be those specific books per se, it's good to get into the habit which is the ultimate point.

[Anonymous No.26293266]

>>26293071
He is poor, not unemployed

[Anonymous No.26293340]

>>26293226
I don't have a library membership. I havent even been to any libraries around me and I remember reading at some point some of them closed. I understand where the encouragement comes from, but it's probably best for me if I pirate them. Thank you for your help.

[abhishek No.26293399]

>>26293120

this

basically u use Uniswap for this ? With that poor investment ur going to pay a lot of fees by swing trading

[Anonymous No.26293637]

>>26292192
>Get off biz. It’s literally 100% scams.
I’ve made some good money of tips here.

[Anonymous No.26293657]

>>26292974
libgen

[Anonymous No.26294206]

>>26292110
Read the Richest Man in Babylon
You'll find your answers there

[Anonymous No.26294248]

>>26292110

https://www.youtube.com/watch?v=NaNjGrsy4ko

[Anonymous No.26294290]

>>26292512
Educate yourself. Spend 10% of your income on books.

You think that's expensive? Try living without an education.

After reading through this thread and some of your replies, maybe you should be spending more on education.

[Anonymous No.26294389]

>>26292801
how do you know when to believe /biz/ and when not to?

[Anonymous No.26294420]

>>26292328
>just buy BTC/ETH/LINK
why link? its getting shilled here constantly

[Anonymous No.26294689]

>>26294389
your own autistic intuition

[Anonymous No.26294725]

>>26292457
Daddy government determined I don't get to have my 10k in unemployment.

[Anonymous No.26294738]

>>26294389
don't buy pajeet shit. If any shill talks in broken english, avoid the project. If a token is posted in a ton of threads, avoid it.

[Anonymous No.26294786]

>>26294738
thanks. just for reference, what is your opinion of the various tokens being shilled here right now? there are at least 8 or so i'm noticing

[Anonymous No.26294873]

>>26294389
Lurk long enough and you can tell. People have different posting styles, and after a while you'll be able to recognize scams.

[Anonymous No.26294976]

>>26294873
thanks. any thoughts on this? >>26294786

[Anonymous No.26294991]

>>26292328
this is gay as boomer shit just take out a 50k loan and go all on on link/grt it's that easy