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/biz/ - Business & Finance

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942218 No.942218 [Reply] [Original]

What are everyone's thoughts on what defines a "realistic goal" given the opportunities presented in this day and age?

As I've gone through life (though I'm only 25), the idea of "becoming filthy rich" pretty much grows more and more unrealistic/unlikely, and the whole "special snowflake" mentality has become increasingly apparent. Which yeah, is depressing in a way.

So I've set myself the goal that before I'm TOO old, I want to have a passive income, of some measure.
The idea of financial freedom is more appealing than a lifestyle of high income/high workload. To me, anyway.

What are your financial goals?
Do you think they are realistic?
Do you have a plan?

>> No.942240

Starting your own company/getting filthy rich is basically gambling right now. We're not in the economic boom of the 80's/90's/early 00's anymore.

Generating passive income early on is basically your safest bet. Stocks/bonds, maybe real estate if you know what you're doing. Otherwise just keep working on your career but most importantly work on savings.

People say "bruh I'd rather LIVE now now save for later lol don't be so lame" when in reality their "living now" money is going to $4 coffees and credit card interest payments.

>> No.942491

>>942240
Well said. Make and save as much as you can, live small and retire early.

>> No.942525

>27
>100k under investment (70% Tax Deferred) 20k Cash
>Salary of 100k
>Passive income 11k (unrelated to investment)

My goal is to have 600k under investment by the age of 35, with a passive income of 18k (unrelated to investment).

This will allow me to live on roughly 40k a year forever without working. So no matter what I do I don't need to worry about food, shelter or necessities.

Then I can do whatever I want for the rest of my life. Maybe keep working, make even more money. Maybe I'll teach or do some other shit paying thing that's fun.

>> No.942555

Algo trading. Bonds, derivatives, forex. Overleveraging a couple of accounts, growing them enough to split them into sub accounts with different risk profiles. Building a track record meanwhile, getting hired into a firm while managing my accounts.

Goal, retired at 35 with enough money to spend a considerable amount of time travelling and giving the finger to the system. Wish me luck brehs

>> No.942564

>>942555
Other retire at 35 guy here

How old are you now? Hope I see you on the other side of financial independence

>> No.942575

>>942564
23. With a minor in mechE. Took a year off to study the markets, used it to figure out how to profit from them. After carefully sifting through gigabytes of pure, unadultered bullshit purveyed by self claimed "gurus" and talking heads, and after months of painful research, endless nights spent in front of a computer screen, i realized that markets can be timed, and present repeating patterns with a certain degree of predictive power that can be quantified and exploited to make money. That, and learning how fundamentals drive market sentiment and how price gets discounted.

How's living the dream? How did you achieve financial independence?

>> No.942578
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942578

>>942218

>> No.942587

say I have an income of 150k-200k/yr.
Starting at the age of 24 how easy would it be to retire at 35?
I'm learning about investing but still have a long way to go

>> No.942627

>>942587
Your salary almost doesn't matter - the deciding factor is how much you can save.

>> No.942640

>>942575
wow you sound like a real pretentious ass. would love to hear how you talk after a few days trading live.

>> No.942644

>>942218

What are your financial goals?
Good house in a good area ~$1.5M
Investments ~$0.5M
Both me and my wife gets a good salary
Money enough for some land out in nowhere ~200k
Travel twice a year

before i reach 45.

Do you think they are realistic?
Pretty realistic, just need to finish uni and i can get a good salary

Do you have a plan?
Done with grad school in 2.5 years > work save up > get inheritance > we be bowling

>> No.942645

>>942640
Whoa whoa whoa calm down anon, why so aggressive?
And yes, i do trade, been doing live for 11 months. So far only had 3 losing months, 2 breakeven, and was profitable during the other 6. But i still have much to improve, so i wouldn't call myself an "expert". I'm just focused on making money

>> No.942648

>>942644
The housing vs. investments seem lopsided. Why not have .5M in your home and 1.5M in investments. That would make more sense.

Also, what's your projected savings rate?

>> No.942660

>>942627
That's what I was thinking. Thanks

>> No.942668

>>942525
>This will allow me to live on roughly 40k a year forever without working.
LIterally poverty line. Way to aim high, anon.

>> No.942679

>>942644
>Do you think they are realistic?
No. Anyone who thinks that putting $1.5m into their primary residence while only having $0.5m in investments is too stupid to have saved that much money in the first place.

>> No.942683

>>942668
40k is not poverty. Especially if you don't have a mortgage.

>> No.942702

>>942683
>40k is not poverty. Especially if you don't have a mortgage.
Oh really? Because rents are really cheap these days, and getting cheaper?

Listen cuck: when you rent you're paying the landlord's mortgage, insurance, taxes and repairs ... and building ZERO equity. That's the definition of a bad financial decision. No wonder your're so fucking poor.

>> No.942749

>>942702
I think hes saying 40k is decent money if you already own your residence.

>> No.942789

>>942749
>40K
>decent money
Maybe in eastern europe or rural Idaho.

>> No.942868

>>942218
That's not how gears work m8

>> No.943225

>>942868
Believe