>I can always make money, but I cannot bring back my 20s
So being a greedy post-grad/millenial. I live like a monk and put away a certain amount of money every month in the hopes of investing it and making more money. I also live below my means and all I am concerned about is getting ahead in my career.
Now I have friends who are being Jack Kerouac all over the place and they claim that quote above. Now I am torn. Am I really wasting my life and youth in this rat-race? Or am I stepping myself up for awesomeness later on in life?
Get rich by 35 and live the next 10 years like you're in your 20's. It's what most rich people do, and they can get away with it because they have the time to workout, look good, and party hardy.
if you don't find pleasure or satisfaction in things like partying or casual sex then you're not wasting your 20s.
if you're neurotically saving your money solely based on fear then you are wasting your 20s.
I just want to get ahead. I dont want to look at the people I grew up and went to school with doing better than I do. I think it would be a waste, honestly.
I don't have anything to gain by not getting money. I have no friends or girlfriend, I'm not short but not tall either (5'10") I'm balding, 24, and pretty much no girl wants me. I have nothing to lose by devoting all my time to getting money
If you are making good money keep doing it-if you have a chance to fuck a supermodel do that.JUST DON'T QUIT YOUR JOB SO YOU CAN WATCH MORE TV!!! I worked with a guy who constantly turned down overtime and never did anything but watch tv and look at porn. When the job ended I had 200k in my 401k and he had 32k.
There has to be a balance somewhere, no?
That is another thing; do I really need to think about a future that might not happen, even?
Pic related tho; I will print this out.
Just take advantage of what opportunities you get-don't trick yourself into thinking you are going to live life and end up doing nothing. If you quit your job it has to be for SOMETHING-not smoking pot by yourself playing Nintendo.
im in the same position i have about 10k in my savings from the last couple years of working. To me, if to get where I'm happy and satisfied with who am i am, I'm not scared to be poor. Money doesn't equal happiness, its the same with partying and casual sex to me.
>save 5k/yr from age 25 to 35 with compound interest.
>Stop adding new money entirely at 35
>finish with much more money than person who saves 5k/yr every year from age 35 to 60
I am saying too
The only time I should enjoy life, whether it means partying, traveling, or whatever is if the investments can pay for all my assets without me having to lift a finger.
The only thing I do nowadays is;
>Lift, Run, and other exercise
>Study for GMAT
>Look at stupid shit in the internet
That's really it. I am even losing my friends because I dont hang out with them anymore
I'm not saying it can't happen but I know if I did it I'd be fucked somehow-if you have a guaranteed place to stay in Bali go for it but if it is some vague offer to come out sometime it is a trap. Plus rich kids always do shit like this knowing they can sponge off of their families-so you got to account for your resources.
>I can always make money, but I cannot bring back my 20s
That phrase is a load of bullshit, they're basically pretending that they value time more than money, while essentially setting themselves up for wage slavery, they'll spend more time working for money in the long run.
The faster you can reach financial independence the better!
>Am I really wasting my life and youth in this rat-race?
they are delaying entrance into the rat race
you are setting yourself up to leave it
when they are 35 and struggling to pay bills you will see how they front-loaded their lives.
Huh? 8% is fucking conservative. 8% is what you'll get with a 50/50% split of stocks and bonds.
At 90/10 stocks/bonds you're looking at 9-10%, and that's before dividends and interest.
Now, I'll be the first to remind you that past performance is not an indicator of future results. But, on the other hand, we're looking at 88-year averages here. That's the every-year average for eighty-eight fucking years.
If you guys are going to try discussing wealth growth in an intelligent way, at least get your basic facts straight.
Lift, shave your head, and grow a beard (keep it trimmed to the 2 week mark). I think it looks awful, I hate it and hate myself and it kills my sense of self worth, but I've had so much more sex since shaving, it doesn't even make sense. Women have shitty taste in men and apparently I now taste shitty.
to be fair his genetics were shit, he was basically just a living science project.
my friends that did that are now in their early 30s and broke as fuck. its a balance. maybe when they turn 40 theyll be where i was in my late 20s financially. but even that is doubtful. just depends what you want out of life.
>You will never be as .. free ... as you are in your 20's though.
Kek. I guarantee you I'm more free in my 40's than I was in my 20's. A financially independent bachelorhood has that effect.
>I'm also fitter, healthier, and thinner. But that doesn't have anything to do with money, so let's leave that out of the discussion.
Ok so lets start with a premise, a presmise that literally 6,000 years of spiritualism backs up. All forms are fleeting (objectively true) and all sensory pleasure is therefor fleeting (true because of my first statement)
then lets expand a second, if sensory pleasure is fleeting, does it not follow that chasing it leads to suffering? , this final piece I think , anyone who's lived any length of time and countless anecdotes can prove is also true, celebrities and rich people are notorious whore mongers and drug addicts.
So yeh you can drink a fifth of vodka and drop some ectacy and sleep 3 hours and bounce right back at age 19 (cant do that shit at age 30) , but you also wont have that springiness to do 80 hour weeks and build up your business or whatever at age 30 either.
So its sort of a balancing act, I say they're kind of on the right track, you're money if spent is better used on experiences like travel than on material goods but at the same point if you can retire at age 30 and they're just starting out (probably with plenty of debt) then you definitely won.
But no, I think a balance is best.
>Kek. I guarantee you I'm more free in my 40's than I was in my 20's. A financially independent bachelorhood has that effect.
>>I'm also fitter, healthier, and thinner. But that doesn't have anything to do with money, so let's leave that out of the discussion.
Not really sure how that's possible.
I mean most people by 30-40 years old get an important job they can't just run away from, married, children, etc. It also doesn't look weird to or seem strange to be banging underaged sluts all day. Whereas when you're 40 years old those same activities just have some strange social stigma.
>didnt you have a million dollar wedding or some shit
Huh? Maybe you're thinking of the other multi-millionaire who posts on /biz/?
>Not really sure how that's possible.
Really? You not sure how it's possible? Even after I explained it to you?
>financially independent bachelorhood
Not everyone is going to achieve financial independence by their 40's, and not all of them are going to be free of the responsibilities of wife and children.
Maybe I'm an extreme example, but this myth of the freedom of youth is a joke regardless. Freedom is more than the absence of responsibilities.
>Whereas when you're 40 years old those same activities just have some strange social stigma.
Stigma? Kek. >>>/r9k/ is that way kid.
many western people are so detached from the concept of volatility and scarcity that they actually think pissing money away is a good idea. You can party it up on the cheap you know, it's the materialistic tripe that is somehow rolled into this position that is the problem. Traveling is an exception, pretty costly unless you're really clever about it.
>plus they've got a taste of the real world and realized most of their dating prospects can barely pay rent.
feels bad man. I'm 27, girl I love is 27, and she is probably out there fucking wealthy 35 year olds while I am struggling to make something out of myself. By the time I have anything to impress her with she'll be pregnant and married to some big shot career stud.
Atleast I know she will cuck him because she is an absolute whore. Lol. And I popped her cherry when we were young so it's not so bad.
Still... hold me /biz/
You can always be like me, OP.
>Fresh college grad that moved several states away from everyone you know for a job
>only people you talk to now are work associates but it's not much deeper than work-related topics
>abandon people at lunch break because you use it to work out instead
>go home, spend an hour cooking dinner, spend the last 2 or 3 on the computer, go to bed
>rinse and repeat
I should probably feel a lot worse about not using my weekends to go to bars like we did back in college, but I fucking hated bars. Though it sucks I don't have someone to pal around with experimenting with drugs like I used to. Drugs and alcohol is boring as shit when you do it alone it's not even worth it.
Sucks anon. If you start saving and training now, you can have 8 years of physical fitness and financial gains by the time you fuck somebody else's 27 year old qt crush.
I got lucky that my two main crushes both stuck with me, got fat, got whiny and manipulative, didn't pay rent or groceries or utilities, and we broke up after 3-4 years. Both times. I'm finally disillusioned with it all and enjoy some nice Skyrim, bar hopping, or MtG tournaments in my spare time. My only real relationship goal now is plowing a cardio bunny at the gym.
>Maybe I'm an extreme example, but this myth of the freedom of youth is a joke regardless. Freedom is more than the absence of responsibilities.
I was referring to the ability to try anything and have the energy and opportunity to do it.
You can pick up underaged sluts or move to some random country and work on a farm when in your 20's. Not so much when you're older.
>I was referring to the ability to try anything and have the energy and opportunity to do it.
Opportunity is cheap. Actually doing thing takes money. Money you don't have in your 20's.
>You can pick up underaged sluts or move to some random country and work on a farm when in your 20's. Not so much when you're older.
I can literally do anything like this, and much more easily in my 40's than my 20's. Better still, when I'm done with my adventure, I can return to my comfy life as a 1%'er in the greatest nation on Earth.
>Also, fuck you, you jealous faggot.
>inb4 desperately tries to save face by posting inspect element'd images
Why would I samefag to call you an idiot when I quite plainly called you an idiot myself? Whether other people agree with me is pretty irrelevant. You're an idiot, plain and simple.
Stop being so triggered. I can tell you're getting off on the attention, and its creepy and sad. Contribute something on topic, or get the fuck out. I don't really care either way.
Haha, you're right. I guess that's the equivalent of writing "2015" on your January 2016 checks.
Well, if it was worth the effort, I'd post another pic. But my work here is done.
Unless someone wants to get back to the actual topic of the thread, which I was enjoying discussing....
This isn't proof of anything.
Anyone could fake this shit
I fucked and drugged myself throughout the world till I reached 27, then I graduated and started working. Now I am building my first milion, currently at quarter of it. If I hadn't lived through my 20's I believe I would be too bitter to go through with any ambition that I currently have.
>tfw will never know what its like to pop someone's cherry
It's actually not enjoyable at all for both parties unless the guy is the bad kind of sadist. She'll spend the whole time in some mix of agony and I'm-not-supposed-to-enjoy-this type of pleasure. It's not very fun to watch.
I'm in my late 40s and worked like a slave through my 20s and 30s. I used to regret it a lot, but I have enough money now to date younger women and pay for hot escorts and sugar babies. After having lots of great sex the last few years, I got the regrets out of my system. Now I'm into lifting weight and meditation. If I didn't have the financial freedom now to do whatever I want, I'd be pretty miserable. So overall it's kind of a balance. As long as you keep thinking long term and don't be tunnel visioned, it'll all work out eventually.
>>1029333 so you have 11m in your bank account correct me if that's wrong,anyways i am really interested on how you succeeded at making that kind of money can you enlighten me please did you inherit some did you invest have you made them from actually working at a job im very serious please share
Lots. Threesomes come to mind. I even scored hot twins. Actually lived out of lot of guys' fantasy. Also there's nothing like laying back and watching a 9.5/10 suck my dick and balls for an hour and worship it like it's the most delicious thing she ever tasted.
Sounds like me. I moved away and have been working a full time job since I was 22. Now I'm 26 and have a comfy easy office job making 75 a year (good for my education) but I literally have no friends, family or outside hobbies. The only thing keeping me going is that I work out a lot and hopefully one day will be /fit/ but I feel like I'm letting my youth escape me.
I want to quit and travel the world with my savings. I don't care if I'm poor.
>>1030019 so from what i understand you make 75k a year but you are not enjoying them since you have no social capabilities and friends etc etc,here is the thing if you have free time use it to make new friends go to place at where you live where people socialize and make new friends no need to quit your job and go poor that's my advice to you mister
I would love to be more fit etc. But I wouldn't like to have my 20s back, because I was such a huge fucktard then.
>You will never be as young, free and flexible as you are in your 20's though.
Dude, I was an unflexible retard in my 20s.
Finally: My personal plan? Find something and exploit it to the max. Also, bonds and funds etc are for retards. Because checking that they aren't stiffing you takes as much work as owning individual, hand-picked stocks.
I don't think the dreams are incompatible. I've done Karouak shit. I lived on a pot farm for a year and a half, took a painted bus around the country and backpacked/hitchhiked about 2500 miles up and down the Californian coast for a summer.
I have always, throughout all of that, lived miserly like you describe and put away whatever I can. When the adventures come, I have the freedom to step away from my wealth and come back for it later.
Just plan a hitchhiking trip for the summer. It's so cheap to backpack. You just need your 500 in supplies, then pretty much everything will be provided on your trip by the kindness of strangers. I think the whole summer backpacking, despite having traveling thousands of miles, living it up and sleeping with a few sexy girls, I only spent about 150. This is after spending the previous 6 months paying out the 500 I needed from supplies.
Nothing stops you from planning something like this out, taking a summer break from your job and leaving your wealth behind for six months. If you leave your things behind with people and institutions you can trust, it'll all still be there when you get back.
But you paid for it, instead of picking her up as a high value man, you had to throw money at her - no different than a poor fag old man going to Asian to fuck cheap hookers, except your hooker is hot and more highly paid.
Paying for a 9.5 suck your dick is fine and dandy; bragging about it is laughable. (to be fair, someone did asked you for stories)>>1030011
But you paid for it, instead of picking her up as a high value man, you had to throw money at her - no different than a poor fag old man going to Asian to fuck cheap hookers, except your hooker is hot and more highly paid.
Paying for a 9.5 suck your dick is fine and dandy; bragging about it is laughable. (to be fair, someone did asked you for stories)
You just have to find a balance that suits you.
Don't throw away the present for the future but equally don't throw away the future for the present. Don't dwell on the past and live without regret.
Just made the best use of what I had to purse what pleasures I desired. It would be nice at my age to be able to score hot young college chicks and threesomes solely on my sexual magnetism and social status, but I made the best of my circumstances. And like you said, I'm not bragging, just answering the other guy's question.
>taking a summer break from your job and leaving your wealth behind for six months
I worry that it would knock down everything I have worked for. By my return my peers would've taken my place and I wouldve fell out of favor with upper management
>It only takes one slap in the wrist/'bad boy' to get rid of a hundred head pats/'atta boy'
YES! Work life balance is key! I work part time minimum wage but still manage to pay all my expenses and pay off debts/save. As long as you budget, stay ahead of your expenses and don't let yourself get wrapped in credit card debt, you can pretty much do anything and still beat out celebs who make millions every year but end up spending every dollar.
As I see it, money is like a stream. You can either work with it (budget, save) or against it (credit cards, cash advances). As long as you float with the stream, you can be successful with quite a minimum amount of effort.
I guess all that Kerouak mentality really isn't important to you. If you would consider giving up a basically opportunity cost-less (assuming you prepare right) situation just because you're afraid your bosses won't be pleased means that you place those 20-something adventures on the lowest life priority.
If your boss doesn't like it, don't come back. Leverage your previous experience and the fact that you do work hard to get a higher paying job somewhere else. Being loyal to your employers is what people did back in the 50's. Nowadays, employers are working to fuck you over just as bad (won't give you health care, pensions or even give consistent shifts on a weekly basis) so you have to think for yourself too. This doesn't mean not trying to work hard or exceed your bosses expectations. This just means that you shouldn't be sitting there ready to lick your bosses boots every morning because of loyalty.
http://www.forbes.com/sites/cameronkeng/2014/06/22/employees-that-stay-in-companies-longer-than-2-years-get-paid-50-less/ says you'll make 50% less after 10 years by being loyal to an employer. Live for yourself. At the end of the day, you and your employer are just completing a mutually beneficial transaction. If you can't take a 3 month leave of absence after being a hard working diligent employee for all this time, the transaction isn't beneficial to you any more.
I have some more to say, but my post became too long, so I'll be back in a few.
>you're afraid your bosses won't be pleased
Thats not what I was saying. I am trying to own the entire industry and expand it. And I am guessing it wont happen if my peers get ahead.
My bosses' feelings has nothing to do with it.
I've seen that article and it's completely true. I made ~40k 2 years ago and make ~80k now all thanks to a job hop. If I ever get this project up in 1-2 years I'll consider jumping again unless my company boosts me to 100k.
Kek, I love how angry retards get when you start posting. Shit, a few years ago I'd probably hate you too, back when I honestly believed that wealthy people were only wealthy out of luck and it's just totally up to chance. So you should keep dropping knowledge until they learn.
I think Kerouak may not be the right philosophy for you. I highly recommend Thoureau's Waldon. It has the same themes of getting back into nature and living in the moment, but Thoureau starts his world view by considering the economics of his situation instead of putting that thought to dead last. Thoureau realizes that his little squat farm shack cost him less than 1000 dollars to set up and will be cash positive after his first year's pea harvest. He compares this to his neighbors who are in so much debt for their farms and equipment that they will basically be slaving their whole lives just to pay their debts back and bring enough food to the table.
The key is to set things up for yourself financially, then have your fun. Doing it in the reverse order will lead you to having to play catch-up in your 30's, as others have said. I hope this helps.
As to: >>1030218
If your personal goals are that demanding, then you really will have to set adventuring on the back burner and just let it go. Just remember that the key is work life balance. Float with the money stream and don't fight against it and you can be successful pretty much doing anything.
He was a corporate lawyer and made about half a million dollars a year for the last x years. He invested a significant portion of his income into (I believe) ETFs through Vanguard.
That's literally it. That's the secret to building wealth.
In fact that's the best way to do it, outside of getting extremely lucky and making a hit app/creating a startup and selling it to Google/making it big as an entertainer/etc. For 99.9% of people, that's the best way to make yourself financially independent: keep your spending as low as possible, invest your money in index funds like VOO, and put in the time until you're financially free.
And by the way i just thought why not share my financial status and how things go around me for yoy guys to help me a bit so... I am a greek male living in greece athens specifically i have a barber shop that i currently work at which happens to be my fathers we dont own it and its rented at about 340€ i believe,the shop is going very good counting at about 12 years of business yoy could say with an approximate of 500 customers in total as my father has said to me he might be lying im dont know what the reason might be,never mind that it is going is what im trying to say but here is the deal he told itmakes 20k a year as a shop and that might also be a lie since i jave counted on a regular day with much customers 300€ at the end of the day amd im wondering now i will be making so good money of it and be good financially,but the other thing is that i have a an uncle at usa.,new york,staten island and he can provide me with work at a lical barbershop there as long as i will be a very good barbee and slowly arise to make my own barber shop,however there a lot of difficulties to surpass and one of the most important ones is the green card i need to have which is close to impossible having unless i actually win it from the lottery of usa what do you giys suggest i do please read the whole thing i know its a lot but help me out a bit
I wouldn't sacrifice being in my twenties and dating hot european girls, seeing those foreign countries and all that just for a cubicle. I worked in a cubicle in my 20's Half way through I said fuck it... This is not life. I left and happy I did. You see those old fuckers walking around the office? They have large humps on their backs from crouching over keyboards and looking at meaningless reports.. Yeah, that is most likely your future.. and I was sure it was most likely my future I stayed there..Fuck that.. travel, see the world. Meet interesting and gorgeous women... Or Stay in a fucking office and end up thinking the 30 something pants suit with a masters is hot... no thanks. You can always make more money but you cannot make more time.
>Full head of hair
>Joints still working fine in his 60s, 70s, 80s, then even 90s.
>no memory loss after more than a decade past the average american lifespan.
>only dies because he refused to see a doctor and kept working out with pneumonia at the age of 96
Are you retarded? This man was fucking blessed.
No, I'm not retarded. I'm actually from San Francisco and the Lalanne's two streets over from me. You don't know what you are talking about. But by all means please continue to believe you are right. And stay fat.
No one gives a fuck about that super long text of mine so let me break it down Basically i have a barbershop in athens going good but i wanna go at usa staten island where my jncle is and start from the start at a local barber shop thoughts?
What is your actual question? Your chance of getting a green card is very low. If your uncle is a Citizen he can try to bring your father over. Once he is a Citizen, if he's still around, he can try to bring you over. The whole process would take many many years.
Also consider Americans don't generally like Greeks, you have a reputation of being exceedingly rude and inhospitable to visitors to your country.
So I would suggest working hard in your country and make the best of it. Also pay denbts.
Exo mono ligo kati na su po. An boreis na erthete edo, Ameriki, kane to. Alla einai pio efkolos na pare prasini karta an exeis mia koritsi na pandrevo.
Lipoin, den ksero ti allo na su po. Signomi gia ta ellinika mou xaxa.
>>1030339 im sorry but you are just another ignorant person who knows nothing about greeks rsther than the fact that we have a huge debt that is not our fault but its just the corrupted gov we had and still have i know for a fact that us citizens love greeks as they are very friendly to every one of them i have talked to with that are in us you are just an idiot who has nothing to say rsther than paying debt
>>1030374 im aware of it all dude as i said just another guy that all he know to say is pay debts greek idiot and as for americans not having a liking for greeks thats also ultimately stupid as my uncle!!! Told they treat greeks with utmost happiness
My dad is Cretan, mom American. Live in Indiana, about 500 Greeks in my city. No bad here, but better than Greece. I'll be in Crete again this summer, last time I went was four years ago. Last time all over Crete there was already anti-government and chrysi avgi spray paint, I can only imagine it'll be worse now.
>>1030390 i really envy you being a us citizen and indiana sure looks nice better from greece that certain my goal is to become a us citizen firstly i need to save up a lot of money which i will try to from investing and my actual job as a barber now about marriage it is the best choice but it also hs a huge risk as it could turn out we dont match and the whole situation goes to hell ;(
Just in general thing are veey bad in greek and certainly will get worse they only thing that is keeping me in greece is that barber shop in greece but i know i can do better than that in us financially that is
Not in my area, but in New York/Chicago, you can still find traditional Greek (American Greek) women that would like to marry someone from Greece. It is possible, have your uncle ask around, maybe visit and go meet some Greek girls in the area. It is possible, just getting harder because most of the Greek American girls are just huge putanas and know not much of the language or culture, the just like to tell people they're Greek.
>>1030429 yeah i know exactly what you are talking about and thats why its a very tough option since it could not go well and end going back to greece and everything going very very bad it is still however a option i do consider greatly thanks for the help my fellow patriot well half but hey fine by me
>not visiting a doctor
What about this one? He thought that he would become 80. But he didn't want to visit a doctor, because it was too expensive.
He became only 60.
Run this trough Google Translate at your own peril.
www cafe se/burksamlarens-gyllene-hemlighet/
Oh yeh man. Im sure a fucking millionaire gives a shit about what people think about him banging 20 year old models , it must be so damaging to his ego , however could a millionaire ever get over it?
Mr Money Mustache (stupid name, I know) is 42 years old with a wife and a kid, two houses paid off, and somewhere around $4-8 million in investment accounts. Neither he nor his wife have worked since they turned 30. Yeah iHaz was in a much better position, but that just means you need to work harder if you don't make much.
tl;dr lower your expenses as much as possible, invest as much as possible, once you have 25x your yearly expenses invested you can safely stop working. Just live off dividends and investment growth.
I seem to get a lot of satisfaction out of things right now. Being with friends, going out to do fun things. Lifting, running, playing sports, going out. All this shit I won't be able to do when I'm older. Right now I'm in my youth, and honestly, money doesn't bring me that much happiness right now. I've driven nice cars, been on nice vacations, but nothing beats chilling with good friends and spending time with your girlfriend. I also have time to learn things other than just spending 100 hours a week trying to make money, or I could train my body, learn how to fix things, play an instrument. Which, working 40 hours a week, barely leaves me time to do any of that. Part of my time I also spend here so I can learn about financing so I can be smart with what I have and maybe turn it into a little more.
As of now, I'm wayyyy too broke to invest in anything. I live paycheck to paycheck, but I'm pretty damn happy.
I really am though. I have fun, and I have people who care about me and I care about them. There's so much shit you can do without money that it can last you a lifetime. Yeah, money will limit that, but I haven't found a limit yet where I can be happy without gaining more wealth.
Money doesn't bring happiness. I don't regularly post here but I am probably the wealthiest (inherited) person on biz.
I think the UMC or unknown millionaires are likely to be the most happy. They are not as limited as the affluent and they have a sense of purpose.
From my experience, wealth doesn't attract women -- at least not the type of women that you want to interact with. Like assortative mating, the affluent and attractive girls pair with the affluent and attractive guys.
Yeah but that's a vacations. I love the sea, the sun on my skin, beautiful landscapes and animals and shit. But that's a like. It looks good cause you're there only for a limited time and you're setting all of your worries aside. It's different from leaving everything and going to live in strange places with nothing pre-arranged: you're basically starting over with your life; then you run out of money and come back home more miserable than when you left. I've seen it happen. The only way it'd be reasonable to leave like that is when somebody is arranging everything for you. Like they want you for a job or something like that.
That's in the past and not adjusted for inflation. Historically stocks return about 4-5% after inflation, however based on current PE ratios 3-4% may be the new normal.
Also, things can change drastically depending on whether or not the human race can increase their productivity in the future. We're all golden if we can discover cheap renewable energy and AI. We're all fucked if antibiotic resistant bacteria wipes out half the planet.
Better play it safe and keep at least 50% of savings outside of the stock market (e.g. safe bonds of multiple currencies, some commodities, real estate).
Firstly, How'd you do it?
Secondly, I was wondering about your opinion on Merrill Lynch. My Grandmother set up a trust fund for me when you came to this country from the dominican, and I really don't think she had any idea what the fuck she was doing. I'm only 20 and have around 800k in assets. I only started being able to look at statements since I was 18, and in total i've depreciated from an original 850k. The asset split is 60% stocks and the rest bonds/alternative investments/ cash accounts. I don't know if the depreciation is the nature of the Economy, or incompetent financial advisors, either way I can't do shit about it until i'm 25 and have control over the assets. Have you've always used Vanguard? How would the process of moving assets from one financial institution to another even work, would I be taxed to hell? I can't exactly ask my financial advisor this, as it'd be kind of awkward implying i'm going to fire her the second I can. How are the fees? I'm paying around 1.5% which seems fucking insane, but I believe it's a higher charged percentage because its a trust.
Considering you have a significant amount of assets I thought your opinion could be informed.
>And even though the next country is so close
>that people can hear its roosters crowing and >its dogs barking, they are content to die of old >age without ever having gone to see it.
>How'd you do it?
I'm a highly compensated professional with millions in lifetime earnings. I invested that money wisely with a long-term perspective into primarily index funds and low cost mutual funds, along with appropriate allocations into riskier investments.
Pretty simple, really: your job is for making your money, and your investments are for growing that money over your lifetime. Follow that basic philosophy, and you'll maximize your potential.
>I was wondering about your opinion on Merrill Lynch
Merrill Lynch is a huge investment firm, and its likely that your advisor is more of an independent contractor who uses the ML platform rather than an actual Merrill Lynch person. Regardless, you need to just your advisor or advisory team, not the organization as a whole.
Having said that, I'm not personally a fan of paid professional asset management. I don't think they deliver sufficient value to overcome the drag of their fees, which irreparably harms your long-term performance. If you consider yourself capable, intelligent, and disciplined, there is no reason you cannot manage your own wealth. However, I understand that not everyone has these skills or the confidence to rely on themselves. These are questions only you can answer.
>I don't know if the depreciation is the nature of the Economy, or incompetent financial advisors
>I only started being able to look at statements since I was 18
If you can read the statements, then you should be able to determine exactly what is happening to your investments. If not, then you need to learn more.
>Have you've always used Vanguard?
No, I have used a number of brokers and financial firms. I've made many mistakes in my financial past. I learned from my errors, and manage my own money now.
>How would the process of moving assets from one financial institution to another even work
I have helped others move trust funds to Vanguard,, and the process is fairly simple. However, it has to be done by the trustee, not you.
>would I be taxed to hell?
If you can do an in-kind transfer without selling any of the trust assets, then there are no tax consequences. Whether you can do that or not (in whole or in part) depends on what the trust owns now and whether Vanguard (or any other recipient) can accept and hold those assets.
>>Full head of hair
Genetics but thinning.
>>Joints still working fine in his 60s, 70s, 80s, then even 90s.
Because of diet and lifestyle/exercise. NOT just genetics.
>>no memory loss after more than a decade past the average american lifespan.
No memory loss? Did you see his interviews in his 80s and 90s? He was going downhill like many people.
>>only dies because he refused to see a doctor and kept working out with pneumonia at the age of 96
Yeah he had a good 60 years past 96...
>>"shit genetics" - Did you read his life story or are you just talking out of your ass? he spent most of his early life ill this started him on a quest for health and fitness. He even started on of the firsts modern gyms.
By stating against the "shit genetics" claim you affirmed you don't know anything about him or his life.
>I can't exactly ask my financial advisor this, as it'd be kind of awkward implying i'm going to fire her the second I can.
Part of being an adult is having difficult conversations with people who work for you. ML works for you (actually for the trustee).
If my gardner does a bad job, I'm not going to hesitate having a conversation with him about changing gardeners. Your financial advisor is no different.
>I'm paying around 1.5% which seems fucking insane
It's not terribly high for a managed account, IF you need hand-holding and don't feel comfortable managing your own money. But for those of us who believe in index funds and low-cost investments, fees at that level make us cringe.
Hope that was helpful.
>>1031461are yoy fucking kidding me yoy dumbass im poor cause i didn't spend time puttingn comas etc wtf is that shit? How does that have to do with me being poor english is not even my native language anyways oh and look i did it again no punctuation fuck you you idiot
>>1031889 so you started making money from you job and then instead of spending at unnecessary stuff yoy invested it seems like a very basic concept however what im wondering about is how much would your job provide you annually so that you would invest to have 11mil if you of cource care to share with the lot of us
> I've made many mistakes in Financial Past
Could you share some of these, I for one learn the hard way most of the time. Any roads you took that weren't worth going down?
Hell I started my investments buying silver @ 32ish with 5% markup.
>I think the UMC or unknown millionaires are likely to be the most happy
What is the UMC?
Also out of curiosity, how much did you inherit?
I meant you should be trying to get into the US. Do research, learn about how it's done, and get the process started. You sound competent so you should be able to figure out how to do it. Someone posted above that it could take several years to get a green card/citizenship, which is true. You're going to have to work hard for this.
>10hrs work (6am - 4pm) travel included
>7hrs play (4pm - 11pm)
>7hrs sleep (11pm - 6am)
>Sat/Sun Ice fishing/skiing
There's more than enough time in a day to do work, play, and sleep. If not then you really need to reorganize your life.
Those that play too much are the idiots wondering why they can't raise a family on min wage and the ones who work too much are usually the ones that live alone in a very nice apartment.
>>1032190 i have searched a lot about it.
The option that i consider the best one are A >through marriage of a us citizen woman
B >through applying for a green card from a 1st degree family member
And final one C >through us diversity lottery for a green card which pretty hard to aquire
I currently have a barber shop waiting to be operated by me with at about 500+ customers from around athens it seems ok but i dont consider it to be so each haircut and razorblade shave costs 6€ my father has told me that the annual earnings reach at about 20k a year however im sure that is correct cause he might be bullshiting me dont know why the point here that im trying to show is that i dont fancy working as a barber in greeceand want to do my best at usa precisely at staten island N.y where my uncle is he is welcoming me and says come by us andrew thing are way better here and of cource he is right and they are Cause there are laws that are followed and corruption might exist but not at the level that greece has myabe i have writen a lot but i could write for days
To sum it up i just seek better opportunities and sallaries at us as a barber and investor my parents have more at about 150.000 set aside and if i could use that money for a new life as a us citizen and investor i would be gold
>so you started making money from you job and then instead of spending at unnecessary stuff yoy invested it
Not to split hairs, but I never said I didn't buy unnecessary stuff. While I'd like to think I never wasted my money on completely foolish whims, I hardly lived like a pauper even in my youth.
I understand that financial austerity can boost your savings, and I certainly think its important to live within your means. However, I'm not an advocate of the monkish lifestyle suggested by those who aggressively follow "extreme retirement" or FIRE strategies. I don't believe that sacrificing happiness in your youth is the right recipe for assuring happiness in your retirement. Furthermore, I think many of these folks (and a lot of other people too) have extremely unrealistic goals about how much they'll need to save to retire with a comfortable lifestyle.
>Any roads you took that weren't worth going down?
-overweighting in commodities and sector investments
-trading too frequently
-trading without regard for the tax effects
Pretty much every stupid thing you see people talk about on /biz/, I did in my past. I did avoid FOREX and was too young for bitcoin, so at least I don't have those regrets too.
In the modern system, there's absolutely no role for any of these in a prudent investor's long-term portfolio.
>>1032450 i get your point i basically wanna have normal fun going out hanging with normal girls etc while growing my wealth i already have 150.000 saved up from my parents for me to have so i will basically invest them so that i could 1m as soon as possible thats it i want money i have everything else i need except a gf that is...
More like /adv/ but I can offer some wisdom
The key is balance. You have to be able to enjoy yourself now, but not too much that you will be working in a factory by 40 and set to retire in 60.
>but not too much that you will be working in a factory by 40 and set to retire in 60
There's literally nothing wrong with working with a factory at age 40 and being set to retire at 60. Most of you will be lucky to achieve even that, according to statistics.
I try not to fault people for having lofty hopes, but this board swims in unrealistic dreams and stone-faced denial about financial reality.
>>1032618 so i wonder with 150.000 i will be able to make it a lot right? I have been experimenting on investopedia stock simulator and sae how i do quite good havent gotten in real trading yet would there be any huge difference?
There's nothing more depressing working in a factory at 40.
Every year after that you are getting weaker.
I worked in a factory from 18-20 as my summer job. The same old fa fucks droning on, probably getting paid 5$ more than me. They look tired and have smokes every break.
>i will be able to make it a lot right?
So what i basically meant to say is with good investments i will be able to increase my wealth nicely right???
You're all over the board with this post, and perhaps I'm being trolled. But if you think that stock simulators and trading have anything to do with growing your wealth in a prudent manner you're in for a rude awakening.
>So what i basically meant to say is with good investments i will be able to increase my wealth nicely right???
Based on your prior post, no. I don't see you increasing your wealth at all, not without a lot of education and a complete change of your mindset. You seem to have no idea what investing actually means.
Go spend some time on the bogleheads.org site if you want to be an intelligent investor. Or don't. It's your money.
>are you milloinaire?
>There's nothing more depressing working in a factory at 40.
No, there's nothing more depressing than someone who saved too little for retirement and spends their entire twilight years scrimping in misery and boredom.
Everyone has different potential. For many, factory work is the highest and best use of their talents and skills. That may or may not be true for you; I don't know. But to disparage any type of honest work is juvenile and arrogant.
>are you freaky?
ok thanks man any advice from you is accepted i know some stuff about investing consider me a basics guy
And so should i stop those stock simulator stuff and focus more on reading? What do yoy suggest i do to further enhance my knowledge and education on this subject ps i not trolling im very serious i dont want to be normal fuck that
Where do you luve by the way???
Very good advice here.
I remember those kids at school who spent time having fun and did no work - where are they now? Living in the same town, earning minimum wage, with few choices in life.
Give yourself a head start and maintain a work:life balance, it gets harder to catch up as you get older.
If you're on Facebook I'd recommend deleting it as there's nothing worse than doing the 9-5 grind and seeing your friends having fun backpacking and working overseas as English teachers or ski-lift operators.
Also sounds like you need to have a think about what you actually want out of life. You can do whatever the hell you want, the hard part is working out what that is.
>What do yoy suggest i do to further enhance my knowledge and education on this subject
I already told you.
>anyone who enjoy working close to minimum wage factory jobs will tell you they hate it.
First of all, most factory jobs are unionized and pay substantially more than minimum wage. Secondly, who gives a fuck whether you "enjoy" your job. It's your job. You do it and you get paid.
Sure its nice when your interests and your employment can overlap, but that's a luxury for most people.
Perhaps when you get a little older and a little wider, you'll stop making these stupid sweeping generalizations about the common working man.
>>1032651 bogleheads it is then i will be studying there and from investopedia and i expect to to do good thanks again
Ha who would had thought i would take advice from a millionaire :P
Protip: Don't listen to /biz/. You don't need a mid six figure salary to become a millionare. It helps, but you can do it with an average joe job. Its just living within your means and not spending hundreds of dollars a month on eating out and shitbucks coffee. Most people don't have any savings or investments in their 40s. Even those with white collar jobs. Just ask Ihaz. If you're making 45-60k, you can earn your million by 40. Once you get to your first million, the second million is far easier. If you have five million by 60, you have enough to retire for three lifetimes.
>>1032848 oh and also how did you start on the stock market at the very start before you invested what did uou read/study what should i do the same as you did to start investing successfully apart from bogglehead
Ah, dan. I thought id never see you posting again on any board, really. So you got away with snuffing your grandmother and got all her money. You should write a book about that shit. Im sure it would be worth your time, but since they didnt have enough to charge you I guess you cant really admit to it...can you. Still the same old fat, bespectacled nerd trying to convince everyone youre in the cool club after all these years.....
Im sure hes shocked as shit I recognized his posts. He used to post on another board and I recognized his style after a while of watching him. he went through and deleted like 3 years of posts after a mutual friend told me that he was being investigated in the death of his grandmother who had raised him from a damn infant. Hes a trust fund kid who likes to flaunt his achievements to random strangers since hes literally accomplished nothing in his life but worship mammon.
Huh. I don't browse here often but I found this thread and it was interesting so I think I'll be doing it a lot more. This thread is the first time I've heard of IHaz, but it looks like he's already somewhat of a known figure. I will check back to see if he replies to your posts in the morning. Goodnight!
>>1033407 what are you even talking about? So he knoes shit about investing and just inherited that 11mil? Is that it? And here i thought i had found a reliable source of knowledge
>oh and also how did you start on the stock market at the very start before you invested what did uou read/study what should i do the same as you did to start investing successfully apart from bogglehead
Answer me please
>tripfags and namefags everywhere
There is no good or wrong answer, it all comes down to personal preference. However, personally, I would rather enjoy my 20s, because while I -could- work like a slave during my 20s and 30s then bang 10/10 hookers and gold diggers like this other anon in this thread >>1029911
, this is a very, VERY high risk strategy. The odds of becoming rich by slaving away for more than a decade are relatively low i.m.o., because everything can happen and block your progress, such as unexpected medical condition, etc.
I would rather have sure shot at banging 7/10 during my 20s and 30s and generally live in a low-stress environment than take a massive risk (and waste away the two best decades of my life working!).
bro, I did this, I live THE life at my 20s... now im 30 and worried about the money...
it is really hard to do money brah?
is there a book or someshit like this?
also i am an agricultural engineer, working on a n hydroponic project, but that will not give real money
You're going to age either way you might as well be 30 with money rather than 30 and barely making ends met. However, the opportunity and mindset of your 20's you can't really get back. No right answer.