Hi, /biz/, I'm 19 and I like drugs and music.
I'm currently studying Theoretical Computer Science, and I'm gonna start working after I finish college.
I wanna achieve total independence - as in having enough money to live and smoke weed without having to work.
So what is the fastest way to do that? Depositing money in bank and collecting interest? Buying and renting property?
I'm a total noob when it comes to business, so I don't know what to do once I finish college.
>>1444662
p.s. I live in good ol Europe, in Bosnia and Herzegovina.
>>1444662
You'll need a lot of money to live off the interest. Best get saving. If you stay at home and work a full time job you can speed run life
>>1444662
the fastest way? get a fucking job! Jesus, how do you not know this?
If you can, go to Germoney/Netherlands/Belgium in an average city with a university in it, work a few years and save max money, try to find a big house that would need no more that 50 000 € to be good to rent. You now rent 3/4 appartements for 500 € each to students and with the difference of costs between Bosnia and west Europe you can live fairly in your home state with 1000€/1500€, just have to go back in summer to rent again, and debts pay itself
>>1444751
"try to find a big house that would need no more that 50 000 € to be good to rent."
> Belgium or Netherlands
>students
Anything near any uni is about 350k for a house, if you have 3 tenants and rent them out for 500 each you'll need to pay about 350 out of that in taxes (that's why nobody even rents that low, 650 min. Unless you're talking about 1 room but if you wanna rent out 1 room shit you have to pay a shit ton of taxes and will need to rend at least to 20 people to make it viable.
You thought OP could get a house for 50k rent out for 3x 500 without paying taxes and live in shittyland and just be happy? Litteraly everyone in western Europe would do that, most kids get that kind of money at 18...
> mfw being that noob at landlording
It's possible to do that, but you'll need much more money, much more tenants for it to be of any financial relevance and most of all a lot of involvement; students move in and out a lot (especially first year failing students), you need to find new tenants pretty often.
Idk about Germany though, maybe it's possible there somehow.
>>1444794
And 350k for a house is lowballing as fuck for some of the NL-BE cities in uni neighborhoods, in Brussels for example it'd be closer to 600k, most semi - decent apartments are 125k (that's flats without a proper bedroom...). Sure you can go to smaller cities and get it cheaper, go further from uni and buy it next to a kebab, let the students get raped and robbed on a regular base and get it cheaper, ... All of that will also mean you won't rent it for 650...
>>1444751
>big house
>3/4 appartments
>near university
>€50k
>the Netherlands
>one of the richest and most densly populated countries in the world
>among the highest housing cost in Europe
Did you forget a 0 or do you not realize in the Netherlands you can't even get a livable house for 50k in the middle of nowhere?
>>1444987
This.
Save 80% of your net for 5 years. Done.
Now you have a different set of problems. You will be at best bored and at worst a degererate pot head.
What you have to do it pick up constructive hobbies along the way. Something that will build valuable skills. You will now use those skills to create a profitable business or focus on some other endeavor from which you can derive fulfillment. Continue to save and allow your nest egg to compound.
As far as saving you have a ton of options. The conventional method would be a mix of index funds and bonds.
>>1444662
Real estates the safest but by no means the quickest
Even the fast track stuff like wholesaling , ive never in 12 years of REI met a retired wholesaler
The fastest way would be to become an entrepreneur - if you get a company that makes 50k a year you can sell it for a wuarter million or more - rinse and repeat until you have enough nest egg to stick in ETF's and live off the growth
>>1445029
That would require you to continue living on that 20% in order to work. Essentially, if you made sacrifices to reach that savings rate, your financial independence depends on those sacrifices being upheld perpetually.
That's why savings rate is a tricky measurement. Instead you should calculate what multiple of your desired expenditure rate you're saving and divide 30 by it in order to get a good approximation in years.
Essentially substitute real expenses with desired expenses.
The fastest is going to Vegas and letting it ride until you have made a million. But it's also very risky. That's what you get for not taking risk into account.