/biz/ - Business & Finance

[Anonymous No.30330497]

I literally only need 1m to retire comfortably bros. I was running calculations and was actually shocked that I could literally and unironically fully retire comfortably with just 1m.

Assuming 4.5% rule, I would only need 1.1m to live on 50k a year. However that assumes a) I am not touching my principle at all and b) the market returns significantly lower than it has historically.

But there was something major I also didn't consider was how much lower long-term capital gain taxes are compared to salary taxes. The same amount of money withdrawn from your investments is effectively 20-25% more than the same salaried amount due to substantially lower taxes. So a 40k withdraw can be equal roughly a 50k salary.

What the fuck bros, why do people act like 7 figures is hell when they could literally retire this instant and be comfortable for their whole lives?

[Anonymous No.30330635]

>>30330497
I wish it was that simple for me. I hit $1 million net worth a month ago. I'm not a big spender and my life isn't too complicated but I won't feel comfortable until I reach at least $3 million.

[Anonymous No.30331870]

>>30330497
You will never beat inflation with only 1 million, and inflation is going to get much worse.

[Anonymous No.30331901]

I can retire with $50K.

[Anonymous No.30332421]

>>30331870
The stock market keeps up with inflation. I would probably work part-time or intermittently regardless though.

[Anonymous No.30332493]

>>30332421
Doordash

[Anonymous No.30332559]

>>30332421
Yeah, if you don't hate your job, you could make it even working part time probably. But man, I don't know about this inflation. It could hurt the markets.

[Anonymous No.30332588]

>>30330497
I know. My number is just over $1mm too.
People on this board, I don't know what it is, maybe they just don't really want to retire or maybe they envision something really lavish.
>>30331870
Like this. This make no sense at all. The amount is not relevant to whether you're beating inflation or not, the vehicle it sits in is. Are you really thinking you're gonna make mega millions and then just draw off it forever? Obviously you still need to grow your money.

[Anonymous No.30332594]

>>30330635
This, with 1m you’re one bad life event from having to go back to the cage.

[Anonymous No.30332610]

>>30330497
You realize 4.5% a year means you double your money every like 15 or 20 years (without doing the math). Easier said than done without the potential of losing any given year

[Anonymous No.30332617]

>>30332559
Inflation does not make asset prices fall. Please read a book before giving financial advice.

[Anonymous No.30332673]

>>30330497
$1.5m in stocks, $500k house

[Anonymous No.30332674]

>>30332617
It does if its been artificially pumped into specific markets undeserving of such high valuations.

[Anonymous No.30332706]

>>30332617
You will need to grow your wealth by at least 7%, and on top of that, you would be selling assets each year to live off of.

[Anonymous No.30332744]

>>30332610
>what is an index fund

>>30332706
4-5% is the agreed upon amount in order to beat inflation and not touch principle.

[Anonymous No.30332807]

>>30332744
I wouldn't bank on it. If I were to set up a lifetime annuity I would need at least 7%.

[Anonymous No.30332844]

That's bullshit and you know it. 1 million is not enough to retire if you're under 50. Mortgage alone Is 2k a month. Food is 1k a month. 3k x 12 is 36k a year just for food and shelter. You're fucking done, bud

[Anonymous No.30332896]

>>30332706
Do you know where 7% comes from? It comes from the observation that average annual stock market returns are 10%. Allow 3% for inflation. Then real return is 7%.
>selling assets
No silly. 1% of $1MM is $10,000. If you have an average year in the stock market you make $100,000 return on your million that is both capital gains and dividends. You reinvest 3% to track inflation. You are left with 7% and a wise person reinvests as much as possible. If one can comfortably live on, say, $30k a year they are taking 3 of that 10% and reinvesting 7, which puts them 4 points above the inflation hurdle.
You need not sell anything. The income is generated from dividends.
>>30332674
So, you think that's going to continue, but everyone will also suddenly realize prices are whack? I can hear the gears turning from here.

[Anonymous No.30332897]

>>30332807
I would put it all (or at least most) in a mid-cap index fund (which easily would average 7% assuming the 100 year trend), and would also probably either work intermittently, part-time, or have some kind of side hustle. I don't really think it's a concern. Again, the 4.5% rule is literally so you never have to even touch your principle.

>>30332844
1m would be around 45-50k post-taxes, which is equivalent of around 60k salary.

[Anonymous No.30332925]

>>30330497
>retiring with 1m
cope

[Anonymous No.30332955]

>im so fucking tired from losing assets
>wish to die everyone who talks to me
>i see graphene DISTRIBUTION soon
>i put money in in PHR tokens and receive some graphene tokens
>i get rich from sharding tech
>i fuck your mama underneath your bed

[Anonymous No.30333001]

>cityfag
>base housing price in a shithole an hour out from the city is a million dollars
Fuck living in Sydney

[Anonymous No.30333026]

>>30332844
Stop living in shithole cities and you see all of those numbers go way down. Hell you could retire in Thailand 3 times over on 1 million.

[Anonymous No.30333095]

>>30332421
>The stock market keeps up with inflation.
>what is an index fund
the stock market is at an ATH, we've had a massive inflationary event and everyone serious agrees index funds are in a bubble
you're working on early 2000s assumptions/knowledge. yes, FIRE was cool... for the generation born in the 70s, maybe 80s if overachieving wagecuck
right now the risk for systemic collapse is higher than ever. likewise with confiscatory taxation on capital gains
expecting the bubble to continue and deliver

[Anonymous No.30333099]

>>30332925
>muh lambo!!
cope

[Thatsa Mann !!+hBNA1+IN8G No.30333135]

>>30333026
>Stop living in shithole
>suggests thailand

[Anonymous No.30333143]

>>30333095
Zoom out buddy, the stock market has been at an ATH more often than it is not. If there is a bubble and cataclysmic economic collapse then we are all fucked whether you are FIRE or a wagie.

[Anonymous No.30333151]

>>30330497
The biggest red pill is realizing you can borrow against your capital and loans are tax free

[Anonymous No.30333193]

>>30332744
>muh stonks only goes upwards in momentum movements hehe i am smurtz
>>30332896
My point was when it stops the prices come crashing down. You claimed printing money leads to higher asset prices, yet it wont be true for CERTAIN markets as i pointed out, in my example, specifically the stock market and even more specifically index funds will be crashing as the dollar hyperinflates. Enjoy.

[Anonymous No.30333241]

>>30332844
>1k a month on fucking food
What a dumb coonsoomer post

[Anonymous No.30333243]

>>30330497
as a Europoor I found out I can do with 500k. if I had a small house in nature 500k on top would be more than enough, even with just 2% of gains a years

[Anonymous No.30333267]

Standard deduction + 40k cutoff means that one can withdraw 52.5k each year without having to pay any federal long-term capital gains tax because you are below the threshold. And if you live in one of the states with no capital gains tax, you effectively don't have to pay taxes.

It's actually pretty crazy because that amount is essentially a 70k pre-tax standard of living.

[Anonymous No.30333287]

>>30333193
You can claim whatever you want, it doesn't make it any less bullshit.
>price stocks in dollars
>dollars are worth less
>companies are worth about the same
>>all their PPE, all their inventory, is real shit and not dollars
>then we require more dollars to price stocks
It's that simple and obviously intuitive, if markets got to be overpriced through inflation, hyperinflation is not going to correct pricing.

[Anonymous No.30333337]

>>30332610
It's all fun and games until you hit a recession

[Anonymous No.30333384]

>>30333287
Some companies, sure. But you think owning 0.00000001% of all tesla shares will make you a kang in 30 years, youre fooling yourself. Type your stock cope all you want while meanwhile i can own ENTIRE percentages of crypto companies or if you have $1m in the bank or make $200k per year you can angel invest in private companies. ONLY 2 good investments because they VC didnt get it first. Enjoy buying VC bags.

[Anonymous No.30333419]

>>30330497
Only reasons I need more than 7 figures are
>I don't want to depend on passive income
>I got parents and siblings I want to help too

>$1.5m with a 5% yearly return
>$75k
>Taxes assume 33% cause they always take a lot
>$50k left over/about $4.1k per month

That'd be nice. Significantly closer to accomplishing than my 8 figure goal.

>>30332617
>he thinks its truly impossible simply because some dude who isn't all knowing says so
Let me guess you believe everything science tells you as well?

[Anonymous No.30333430]

>>30332844
>>30333241

I live in the most expensive part of Italy and spend <€200 a month on food

What the fuck are you eating bro

[Anonymous No.30333449]

>>30332896
No you mega turd. The 4% SWR Comes from 7% minus 3% inflation

[Anonymous No.30333527]

>>30333384
I wouldn't buy tesla. No divvy, shit P/E.
If I was retiring I wouldn't be buying anything for growth dingbat. The portfolio is built for income. And I don't get your point either since I do hold crypto but I can't make INCOME from them (outside yield farms that won't last) so they're basically useless in retirement.
>>30333419
Why don't you try putting together a coherent argument for it then instead of posting frogs and naysaying.
>>30333449
You can literally gather data and see for yourself that average US stock returns are 10%.

[Anonymous No.30333528]

>>30333241
I mean it’s very possible if raising a family

[Anonymous No.30333552]

>>30333419
>>Taxes assume 33% cause they always take a lot
That's not really true though. If you are a burger, you get 12.5k standard deductible as a single filer, then you also get up to 40k before you hit any taxes. Then anything from 40-400k is only 15%.

So in reality, 75k of long-term capital gains would only be about 4% federal tax. Your state tax may bump that up another 3-5% (although some states have none), but still nowhere remotely close to 33% if you have no other income. Long-term capital gains only maxes out at 20% and that's only for the bracket of 400k+ in a year

[Thatsa Mann !!+hBNA1+IN8G No.30333584]

>>30333333

[Anonymous No.30333596]

>>30333527
My only point has and always was most if not all of the stock market is overvalued. Stocks are considered assets as they are a share of a company. You claimed assets will rise due to inflation. My contention is MOST assets will, like you said, but not likely the major stocks and index funds which should see a huge crash.

[Anonymous No.30333609]

>>30333267
Mega cucked by California. Intend to move out of state to avoid taxes on a business plan. Idk what the business tax is but am utterly disinterested in losing a lot to them. Im already going to lose a sizable chunk to them just on last years gains. If I had made enough gains Id have moved to another state this year. At some point it is just financially sensible to move elsewhere evem with the cost savings provided bystill living at home.

Eg.
>Make 200k stock profits
>owe california 26.6k

Kek 26.6k is enough to afford a nice place to rent. No way am i staying in california if my stock market results improve this year or if my business plan ends up looking potentially successful.

[Anonymous No.30333626]

>>30333430
Clearly more than just noodles like you

[Anonymous No.30333633]

>>30331901
Retire fully or would you still have a part time job?

[Anonymous No.30333673]

>>30333609
Are you peeing sitting down in the sink?

[Anonymous No.30333747]

>>30332844
Bruh I spend less than 75 dollars a month on food wtf are you eating lmao

[Anonymous No.30333754]

>>30333596
My point is that you have no real reasons to believe this and are probably just parroting something you heard on 4chan.
Does this make sense to you?
>stocks are overvalued because money printing
>money printer goes into maximum overdrive
What happens to stocks?
>A. Even more overvalued
>B. Sudden deathcrash

[Anonymous No.30333791]

what the fuck is happenning here. stop Talking shit this shit, im tired with your dumps and fake “moon”. your spaceships are shit. is that so fucking difficult to put money in smth good kek???buy phore token, have the graphene airdrop and stop being so dumb

[Anonymous No.30333805]

>>30333527
Meh not to bothered ill keep living my life and as long as the gains produce the money i need im not wasting my time figuring this complexity added on top of the monetary system thay solely looks like its done to create confusion, after all when you incoude all the variable they teach in an econ class it gets to the point where there are too many factors to account for. All while claiming said variable always have this and this effect only. Just like claiming this action the fed is taking isnt QE just by slapping another name on it.

>>30333552
I wish that were true.

t. Neet who will probably pay about 10k in taxes for 2020 gains.

Also didnt notice you mentioned long term capital gains. I was talking about short term partially.

[Anonymous No.30333813]

>>30330497
I touched $1M when btc hit $58k, back to six fig hell again.
Tell me it aint over bros...

[Anonymous No.30333841]

Wait fuck, I didn't consider health insurance since you are unemployed bros. What would be the cheapest way to get a single adult catastrophic plan?

[Anonymous No.30333875]

>>30333841
get on medicaid, because you won't have income lol

[Anonymous No.30333879]

>>30333528
That's the thing these motherfuckers don't understand. I think wife and I spend about 400 bucks in food every month (including take out). Multiplying that by 2 because you've got two kids. God damn son, my dog needs kibble. Holy shit baby formula is expensive what the fuck? Oh tuition, oh I need an SUV to transport all these little niggas my wife's boyfriend stuck me with.

[Anonymous No.30333900]

>>30333754
You think the fed will automatically continue the same investment strategy when they unironically own 33% of the housing mortgages. THEY ARE ABOUT TO REPO EVERY HOUSE IN AMERICA NOT OUTRIGHT OWNED IF THEY CAN IN THIS SCHEME. after butt gates and jewamy powell own all american land the fuck do they care about GME and roblox stock? They own the means to production literally land and real estate and you will RENT EVERYTHING. Because your dumb ass bought an index fund instead of guns, real estate, farm equipment, a goat, certain early companies

[Anonymous No.30333913]

>>30333900
hahaha hey my man why do you need those guns?

[Anonymous No.30333920]

>>30333900
>this man would like to give you financial advice

[Anonymous No.30333921]

>>30333875
Well capital gains would be considered income.

[Anonymous No.30333933]

>>30333913
I dont own a gun. My point was its a very very good investment. I expect guns to 10x in 10 years.

[Anonymous No.30333945]

>>30333913
I was gonna guess his retirement account was a box of federal and packet of seeds but didn't wanna go there lmao

[Anonymous No.30333961]

>>30333920
Youre the one giving advice to buy index funds like the CNN parrot you are. Fuck off back to where you came from. You may manage money for a living, but i actually have money. Theres a difference when youre playing with your own money hedgie. And mine isnt going into your shit 401k option

[Anonymous No.30333964]

>>30333673

[Anonymous No.30333987]

>>30333933
What are gun prices like now compared to 2019? How much did they go up?

[Anonymous No.30333989]

>>30333945
My guess is your investment is massive black dildos you ram in your ass before selling on onlyfans for $0.50 like a performing monkey

[Anonymous No.30333993]

>>30330497
You will get bored in 7 figures middle class very quickly. like 3 years max, after you done travelling, fkn hot thots. Then you want to knows companies, statuses :)

[Anonymous No.30334004]

>>30333961
You manufactured that in your head. Nowhere do I say buy an index fund. Personally I never would because you can track indices easily in your portfolio without paying a fund manager's salary.
>Fuck off back to where you came from
I know where you came from :^)

[Anonymous No.30334028]

>>30333987
Sure but number of people on earth goes up too and a nice gun like AR-15 is priceless if they cant make enough. Its similar to tokenomics for the right gun. I invest in pokemon cards actually in the same way on the side of crypto obviously

[Anonymous No.30334056]

>>30334004
You said all assets will rise in value that includes index funds, cut the malarkey Jack.

[Anonymous No.30334104]

>>30334056
...and? Doesn't mean you buy them silly.

[Anonymous No.30334107]

>>30332421
Where do you think your 4.5% comes from? Dividends? Lol. Not unless you’re buying some absolute garbage. You’re going to need to sell stock if you want to cash out 4.5% a year, which means your portfolio is ever shrinking in terms of raw stock amount, which means you need to beat the 4.5% by both 4.5% and inflation to maintain, which means with the hyper inflation coming you probably need to make at least 7-8% annually and you’re just one bad year away from your entire plan crumbling.

Add this to the fact that you’re probably what like 22? 24? One day you might want a family and kids aren’t cheap. Or even if you don’t you might just want to live an adult lifestyle, be able to do the things your friends are doing, live life experiences not just huddle in your box playing vidya eating frozen tendies all day. Minimum 150k/year to do that in any reasonable country, which means you now need closer to $6MM to execute your plan. $3MM at minimum to live like a teenage loser for the rest of your life.

$10MM is truly the minimum safe make it amount. Any less and you’re going to run into regrets.

[Anonymous No.30334185]

>>30334104
Youre so fucking stupid im done. My point again for the last time is youre wrong. Index funds will crash, silly willy billy.

[Anonymous No.30334193]

>>30333337
>>30333095
There's no point in bringing up an economic collapse because it won't matter if you're employed or not.

[Anonymous No.30334210]

>>30334107
the stock market averages around 10% per year. I am putting everything in mid-cap index fund. One bad year doesn't affect anything in the long-term, and again that calculation is based upon literally never touching principle and only around 7% returns.

Also 70k pre-tax income is not "huddle in your box playing vidya eating frozen tendies all day" you fucking moron.

[Anonymous No.30334216]

>>30334185
Alright man I'm gonna take your word on it, you are clearly very qualified

[Anonymous No.30334355]

>>30330497
Fun fact. If you put that 1m into night dividend stocks like GEO it’s tax free until after 40k. Maybe 45 I forget exactly. Around there. ZERO taxes on qualified dividends if that your only income. Granted if you out 1m into 100% GEO you would get 120,000 per year as the dividend is over 12% and you’d have to pay tax on that but you’d probably wanna diversify a bit or use some of the dividend income to always hold long dated put contracts in case the stock goes significantly lower or out of business.

[Anonymous No.30334410]

>>30334216
Youre the one making the claim all assets will rise, Ms Krassenstein.

[Anonymous No.30334457]

>>30334410
stocks and index funds will rise with inflation retard

[Anonymous No.30334468]

>>30333337
We’ve been in a recession for months. Not a “recession” an actual, technical, charted recession; stocks have gone early straight up, especially the Russel index. It’s the only time that’s happened ever cause of this guy and government gibs.

[Anonymous No.30334515]

>>30334210
Peanut gallery aside. Since 1871 in the S&P, 36% of years were net negative, 64% were net positive; none were zero. So you might plan for about a third of the years to be losers. If you are still making 10% minus 3 you should be putting at least something away from the remaining 7% to build your cap in preparations for bad years. If you could live on 3% for instance, but you're making 7%, that 4% reinvest is your bear market insurance.

[Anonymous No.30334542]

>>30332844
>Food is 1k a month

Anon I...

[Anonymous No.30334599]

>>30334515
It all averages out long-term.. you are really overthinking this. Literally the entire principle is bear market insurance because you don't even have to touch it. Obviously all gains are reinvested, that's kinda the whole point...

[Anonymous No.30334629]

>>30334457
This is how you know the tradinvestors are here. Good luck with that bruh

[Anonymous No.30334745]

>>30332844
>36k a year just for food and shelter.
Anon, I

[Anonymous No.30334796]

>>30334107
i dont think you get the point, also you dont need 150k a year. people have comfy lives on 50k in europe. it's about having more than 8 extra hours per day where you dont slave away. if you are 22 to 24 this time is invaluable, so if you can afford to really chill and do nothing during this time, you already made it. and if you need more money down the line, you can plan for that as well. it's not like you will be a degenerate nothing, you can work on your hobbies and try to monetize them. that takes time and effort but you have the energy and time to work for yourself. and even if that fails you can still do some part time shit, working at christmas markets, whatever. as long as you always have the freedom and independence.

[Anonymous No.30334835]

With around 200k I think I could buy some cheap land and live comfy on dividend stonks. All I need to do is put my entire net worth into a ridiculously low cap shitcoin that pumps for no reason. A simple 10x would get me there. It would really be that easy but I'm too scared

[Anonymous No.30334944]

I agree OP.
But I also have circumstances leaning extremely in my favor (going to inherit a few apartments/houses when I'm 50/60 so I only have survive on that 1 million until then.

[Anonymous No.30334984]

>>30333747
wtf are YOU eating? rocks and gras?
No seriously, I want to cut my food spending. What is your number 1 tip?

[Anonymous No.30335032]

>>30332421
The stock market is about to repeat 2008, except 5 times worse

[Anonymous No.30335141]

>>30334984
Food gets more expensive the more processing it goes through. If you want the cheapest food, get it as unprocessed as possible. I'm talking about buying wheat from a granary and grinding your own flour to bake bread with. How do you think people in poor countries are able to sustain fuckhueg families? My example was a bit extreme but you get the point

[Anonymous No.30335172]

CLF will get you there

https://stocktwits.com/symbol/CLF

[Anonymous No.30335427]

>>30335141
so what's a real life first world example? because i can get a decent meal for 5 euros, i guess i can make the same meal with my own ingrediends for maybe 4 euros

[Anonymous No.30335559]

>>30334193
I'm not talking about a collapse, just any sustained bear market will fuck you up if you are *that* dependent on constant growth

[Anonymous No.30335588]

>>30332844
I have a wife, 4 kids and a cat and we spend MAYBE $800 month on groceries

[Anonymous No.30335593]

>>30333626
I eat beef, chicken, and fish most days
Learn to budget

[Anonymous No.30335689]

>>30335427
I'd say something like chili would be a good example. It's filling, you can make large quantities easily and you can get canned beans and tomato sauce to cut down on cooking time. Cutting out the meat would make it cheaper as well. It would be less than 4 euros per serving for sure

[Anonymous No.30335699]

>>30330497
you need minimum $1m invested for returns AFTER you buy yourself a house, and everything else you need.

If you retire after making a million, you'll spend the majority of it on a house and what ever else, then you'll have only 500k or less left.

$2m for me. Big house with farm land and then all the livestock etc. be sefl sufficient for the most part with my comfy $1m investments for additional resources and security.

[Anonymous No.30336103]

>>30333151
how does that work because when you pay off the loan you’d pay it off with income, right? please explain further anon?

[Anonymous No.30336539]

>>30336103
Borrowing money and repaying loans isnt taxable.

[Anonymous No.30336579]

>>30333384
>i can own ENTIRE percentages of crypto companies
lmao, buying worthless governance tokens is not equal to owning crypto companies anon
so unless you bought the Coinmetro convertible bond, I don't know what you are talking about

[Anonymous No.30336595]

>>30336103
>>30336539
That said its a retarded strategy because youre risking your entire collateral stack and need to come up with the cash to pay it back, which probably comes from income like you say so thatd be taxed

[Anonymous No.30336620]

>>30336539
how do you repay a loan without income? serious? with another loan? how does that work in practice? i’m actually regarded and need help :(

[Anonymous No.30336629]

>>30336579
As over used the meme is:
Few

[Anonymous No.30336674]

>>30336620
Thats the point is its not actually a good loophole. Youre not missing anything. Its a temporary way to, say, not pay taxes. Only used in niche legal tax avoidance by autists and jews.

[Anonymous No.30336743]

>>30336674
Such as pushing taxes off a year where you think youll lose money that year to offset.

[Anonymous No.30336845]

>>30334185
>Index funds will crash
I agree but this will take the whole stock market down and crypto will suffer even worse
99% of cryptocurrencies are fundamentally worthless

[Anonymous No.30336850]

>>30336595
>>30336674
>>30336743
thanks fren

[Anonymous No.30336957]

>>30336845
Sure. Its always worse to trust others to work for you, its always better to run the assets yourself. We are moving into a world of trustless protocols, where the asset will generate yield. Learn solidity. Find the right protocol. Fuck stocks and fuck 99% of crypto even like you say. AKA all in ren

[Anonymous No.30337059]

>>30333267
So explain this to a newbie like me

Let's say I make 400k on stocks on like etrade whatever. If I transfer that into my bank account I'll get taxed 13.3% of it? Or do I get taxed on the sale of the shares. Or both?

[Anonymous No.30337070]

>>30336629
tell us a single crypto that represents ownership in a company apart from the CM bond
yes, some DeFi like Vesper and xSUSHI come close distributing some or most of the revenue to tokenholders
what else is there? stop larping

>>30336957
>We are moving into a world of trustless protocols
agree
>where the asset will generate yield
by yield do you mean a share of the protocol revenue? or do you mean "stake pancakes to make yams"
if the latter then that yield will absolutely not last
>AKA all in ren
ok this is interesting, can you redpill me a little? ren is used to bridge btc to ethereum and you can earn income by running a darknode, is that correct? where is the yield coming from in this case?

[Anonymous No.30337110]

>>30337070
What is your opinion on the Coinmetro bond? Was I dumb dumping mid 5 figures into it?

[Anonymous No.30337182]

>>30334355
Wait are you saying that you dont get taxed if you make 40k in dividends per holding or 40k per portfolio?

[Anonymous No.30337263]

I think it depends, maybe in burgerland is not enough but once again why would you even stay there lol

In europoorland is more than enough, 50k a year will put you above average wagie in every country except a few.

[Anonymous No.30337347]

>>30337110
>Was I dumb dumping mid 5 figures into it?
I think you were smart, and you are already in nice profit
unfortunately I only put about 7k in it and now it is going to be hard to get any more of them
regardless which cryptos fail or succeed, CM should be able to profit and grow as long as people speculate. Honestly even if all cryptocurrencies fail completely I think they would be able to pivot into a neobank / fintech company anyway. They already have a loyal userbase and personally I would replace my current banks with Coinmetro if I was given the opportunity

[Anonymous No.30337403]

Frustrates me to no end that people are so shortsighted to think their xbux will be relevant for a lifetime from the present. shit is gonna get wild.

[Anonymous No.30337423]

>>30337070
Yes like xSUSHI and iFARM eventhough they arent perfectly decentralized. I was actually thinking of CRV as i was writing that because bonding curves are simple to reapply once the math is done.
Ren multichain will host ETH, BSC, SERUM, COSMOS, and POLKADOT and soon. They will be able to port dapps. When the USD goes digital they will port it onto eth.
And i used it as an example because although today ren is team run, someday the darknodes will run it. sMPC is unironically one of the strongest technologies to be put into use out of this revolution so far. Imagine a decentralized dark pool, you know like the ones robinhood uses, which cant be shut down. Think people would like that product now? Watch what happens now that FTX serum and ren are partnered. Alameda is a smart cookie and him partnered with Loong is dangerously based.

[Anonymous No.30337460]

>>30335427
buy big bags of beans, rice, potato or sweet potato etc in bulk, if you have a yard potatoes can be grown fairly easily after the initial garden is set up, herbs too and a lot of other things to save a bit of cash
if you eat a lot of bread baking basic bread will be cheaper (and tastier)
meat can be bought in primal cuts and cut up into smaller portions (although you need a big freezer) for cheaper, whole chickens are far cheaper too and can be butchered the same, organ meats are often cheaper than muscle meat, they have unique tastes but they're good and often more nutritious
bones can be used to make soup after cooking, fats can be collected stored and used later
I used to eat a lot of duck (could sometimes get for $10 AUD) and that would generally go like:
>roast whole duck with simple seasoning
>bottom of pan stuffed with potatoes/carrots/pumpkins
>after it's cooked the fat is poured off into a container and frozen (it's delicious) to be used later for frying
>majority of meat is stripped from the frame, some is left on
>frame is refrigerated
>any leftover from the roast dinner goes on sandwiches for the next day with vegetables on side
>frame is used (within a day or so) to cook a couple litres of soup/broth with leftover uncooked potatoes and carrots
>generally got a couple litres worth, enough to freeze
>duckfat is used to fry potatoes or whatever else
so for <$15 aud you could get 3 or 4 servings of roast duck with veg/sandwiches, another 3 or four servings of soup with bread on the side, and then some potato wedges fried in duckfat which taste like heaven.
Basically buy in bulk and stretch everything as far as you can

[Anonymous No.30337479]

>>30330497
50k is going to be abject poverty by the time you're actually retirement age

[Anonymous No.30337540]

>>30337423
Aka for midwits ren is like monero with smart contracts

[Anonymous No.30337947]

>>30337423
>>30337540
thanks, will have to do more research on ren but it does sound like it has a lot of potential
do you hold anything else?

[Anonymous No.30338069]

>>30337947

[Hamzahalosaimi No.30338126]

hahaha shut up fuckers, i will never follow your fckn referrals, don’t even dare! my pajeet pepes will fuck you to shizo
i actually don’t give a fuck, i already put money in PHR tokens and just prepare for graphene distribution

[Anonymous No.30338683]

>>30337947
>>30337540
Interesting. I just bought a bag of FNT (Falcon). It's an eth based privacy coin. You buy FNT on the eth blockchain and it for FNC (always one to one) on the anonymous chain. So it’s a privacy coin that can be forever publicly traded. I just loved the idea.

[Anonymous No.30339081]

>>30330497
Congrats anon. My target was 1.5m assuming 3% safe withdrawal rate for 45k inflation adjusted living for life. I hit it in 2018 and finally got th confidence to quit my job in early 2020.

Rich, broke, or dead calculator is a great tool for playing around with to see how much you need to save for your goals. https://engaging-data.com/will-money-last-retire-early/

[Anonymous No.30339130]

>>30330497
I could happily retire with 1m but really I'd want 1m PLUS a nice house paid off.

[Anonymous No.30339149]

>>30338069
based

[Anonymous No.30339330]

$4.5M here. Thanks Fantom

What the fuck do I do next ? I cashed out in stablecoins

1- Scared of entering back in crypto. Stock to flow shows a bigger crypto pump, but at the same time the corona bullshit and the stimulus has pumped all the markets to craziness
2- How do I avoid taxes ? If necessary, I can live in another country
3- Thinking of generating some passive income by buying and renting properties, but at the same time I'm becoming so good at this shit I feel like that side work would just make me weaker at this game. What would you do ?

What the fuck would you do in my position ?

[Anonymous No.30340009]

>>30339330
>1- Scared of entering back in crypto. Stock to flow shows a bigger crypto pump, but at the same time the corona bullshit and the stimulus has pumped all the markets to craziness
keep it in stablecoins or lose everything. You can earn a nice yield using safe protocols like AAVE, Compound or Vesper
recognize that you are almost the equivalent of a lottery winner buying something as useless as fantom and actually making it from that

>2- How do I avoid taxes ? If necessary, I can live in another country
You can't avoid taxes since you already cashed out into stablecoins anon... Whatever you already owe in taxes, take it out and pay it off now or set aside in a separate bank account that you don't touch

>3- Thinking of generating some passive income by buying and renting properties, but at the same time I'm becoming so good at this shit I feel like that side work would just make me weaker at this game. What would you do ?
real estate is a good and safe way to generate cash flow
>but at the same time I'm becoming so good at this shit I feel like that side work would just make me weaker at this game
you are not, you went all in on something and got lucky during the biggest bull run we have ever seen that was only possible due to Covid and moeny printing. If you get too cocky you will end up giving most of it back

>What the fuck would you do in my position ?
15% btc/eth, no shitcoins
20% stablecoins to earn yield
15% physical gold and silver
25% real estate
25% cash to buy the dip

there, now you are safe whether we have deflation or hyperinflation next

[Anonymous No.30340025]

>>30333527
3000 BNT staked
500 DOT stands
32 ETH staked

Around 70K now. Should be able to generate enough income by year 5.

[Anonymous No.30340268]

>>30340009
Great suggestions, anon.

Btw, wrt this:
>you are not, you went all in on something and got lucky during the biggest bull run

Started with just a few hundred euros and built my way up to 4.5M in 8 years. It's been an incredible experience. Yes, lost my wealth multiple times and had to start from almost 0, especially during the first terrible bear market (2014-2016) Then I got to experience losing $980k from the $1M I had during the previous bull run-bear run (2017-2018). Then my portfolio got fucked once again at the corona crash.

I'm unchained now. Thanks you anon

[Anonymous No.30340350]

>>30332594
Only in burgerland. I will just sponge off my national free health service

[Anonymous No.30340407]

>>30332559
Yeah part time can cover your immediate bills at the least so you never need to withdraw much unless for a purchase

[Anonymous No.30340524]

>>30340268
>Started with just a few hundred euros and built my way up to 4.5M in 8 years. It's been an incredible experience. Yes, lost my wealth multiple times and had to start from almost 0, especially during the first terrible bear market (2014-2016) Then I got to experience losing $980k from the $1M I had during the previous bull run-bear run (2017-2018). Then my portfolio got fucked once again at the corona crash.
oh I didn't realize you were an oldfag
actually I got my start in 2013 by FOMOing into the btc top back then so I have made many mistakes myself along the way

>It's been an incredible experience
it sure has my fren and btw, I didn't mean to be so rude it is just I thought you were a newfag that just made it big and I know that euphoric feeling you get when you think you are invincible

>Great suggestions, anon.
so great I need to follow them myself kek
I didn't make it as big as you yet so I'm still participating a little bit in the shitcoin casino but I hope to be out within a month and then I will go towards the allocation I recommended for you
btw, I would then use the stablecoins to buy crypto during the next bear market, and I would use the 25% cash allocation to buy the stock market after it crashes

[asdfg No.30340571]

ass

[NamedNamedNamedName No.30340802]

Comment

[Anonymous No.30341947]

>>30330497
If you have little to no debt you don't even need a million.

[Anonymous No.30342047]

>>30331870
Inflation hits at less than 2%. Good indexes will get you about 12%.

[Anonymous No.30342164]

>>30332844
If you're 50 and you still have a mortgage, you're retarded.
>food is 1k a month
Lmao are you getting delivery 3 times a day? I can feed a family of 3.5 comfortably with $350 a month, far less if we loaded up on beans, rice, chicken and tuna.

[Anonymous No.30342233]

>>30334984
Post your last shopping list, wtf.

[Anonymous No.30342407]

>>30330497
You have to factor in medical insurance. Also, if you have a family, there are more expenses. 3M is what I am shooting for.

[Anonymous No.30342468]

psshhh
I put in $20k and just wanted to get to 6 figure hell but it looks like I'm just going to lose money...

[Anonymous No.30342791]

you know without jewish inflation money printing and wealth hoarding by the 1%, with the gains of technology we should all have been able to comfortably retire at like 50 with like 200k.

[Anonymous No.30342841]

because despite the fact that they made a good investment in crypto

they still think they need to be a citycuck and pay 500k for a house and have no plans on growing their own food and being self sufficient

so they go through money like water because they are stupid idiots

[Anonymous No.30342894]

>>30342791
Fiat existing has lead to the birth of a goat being a taxable income event and as it matures the meat gains value in its life therefore upon sale a capital gains tax on profit. This is evil. Not to mention if i die, my family has to pay 40% of the value of all my goats, which they will need to sell the goats to pay, which is another capital gains tax on profit. And dont forget property tax. And dont forget because its food you have extra regulations especially if you want to sell some goat curry you prepared. Fiat was invented to funnel wealth. There is no reason for fiat. Uniswap and aave and others prove the need for fiat is naught.

[Anonymous No.30342896]

>>30330497
>What the fuck bros, why do people act like 7 figures is hell when they could literally retire this instant and be comfortable for their whole lives?
If you ever got to 1mill, would you completely cash out, knowing there might be a future bull run again?

Sounds like 7 figure hell.
Although at 2 mill, you can cash out half, be set, and still have 1 mill in the game.

[Anonymous No.30343177]

>>30342894
If its not clear the issue here is we box out the small guy because only crazy large goat farms that are incorporated (avoid death tax) would be able to compete. They say oh here let me help small business by GIVING THEM MONEY, same with say hand outs for poor people, WHY NOT JUST STOP TAXING 40%? Remove regressive taxes they are destroying the already impoverished

[Anonymous No.30343432]

the money printing last year and this year will halve that in a decade. don't think like a poorfag. use that money to create income generating businesses and investments.

[Anonymous No.30343475]

want to take a look at new gem?
rofl, go for Binance Smart Chain and use Jul
forget about this fucking dumped gas on Ethereum
any coins can bring you benefits
>you shouldn’t be expert in trading, go for farming