FI - Financial Independence General

Post your age and net wealth:

Age: 19

Net Wealth: 12 500€
- investments 10 000€
- bank account 2 000€
- cash 500€

Age 22

Net Wealth 65000€
Bank 3000€
Eth 2000€
Only high net worth because i have some hectar of shitty eastern european land to my name

>>2033974
Have you thought about selling that land and reinvesting it in stocks or elsewhere? Or does it have sentimental value.

>>2033867
Give me one reason, one fucking reason why I shouldn't put my life savings ($15k) into the next crypto meme

If it moons, I enjoy my 1000% returns
If it crashes I KMS

>>2033891
Age: 19
Net Wealth:
- investments ~ £1000
- bank account £6000
- cash £5 and like 5kg in coins :D

Going to start a business this summer.
Any suggestions where else should I invest?

Age: 26

- stock market investment £15,000
- crypto investment £2,500
- bank account £2,000
- cash £0

I'm basically poor. My rent and bills need to be paid which means I need a buffer in the bank, otherwise i'd put it all into crypto.

>>2034029
That's what I'm doing with POSW.

It either moons within 6 months or I kill myself, literally.

>>2034029
You could put that in an index fund and enjoy average earnings of 7% a year, which accounts for economic downturns (without them it would be ~12% a year), and enjoy compound interest doubling your investment in 8 years.

Also if you save 50% of your income, you can retire in 15 years getting the same amount as 100% of your working income in passive income.

>>2034047
>You could put that in an index fund and enjoy average earnings of 7% a year
I already have it in indices and it's getting 3.8% returns per annum, which is shit tier

>>2034047
Fuck off. He would still be living in poverty and have to wagecuck for years with those frugalcuck strategies

What is the point of life if you spend most of it working

Age 24

$40,000 in student debt
$7,500 in stock market
$350 in equity crowdfunding
$750 in ETH, LTC and XRP

>>2034041
Do you need the capital in for your business? In that case just keep the money in your savings account.

If not and you can keep the investment in for a long time, then invest in a three fund portfolio (1 bond fund (low allocation), 1 total stock market index fund (high allocation) and 1 local stock market index fund)

>>2034064
You must have a pretty short life, if 15 years is most of it. You can also increase the savings % and retire exponentially sooner.

>>2034017
local farmers only offer a very small sum so i rather keep it, also its pretty comfy because a small part of it is a forest, often drive up there in summer because to relax a bit

>>2034062
3,8 is shit tier for index funds. How high are the management fees? And what index does that fund follow? We are currently in a bull market, for example my European stock market index fund made 14% last year.

>>2034087
nothing wrong with that desu

>>2034094
The fees are extremely low, 0.04%
It is a total stock market index (USA)

>>2034068
I have a business plan worked out where the first stage will generate enough capital to kickstart a bigger project which will be a private limited company.
Just looking to invest my personal money. I read about similar portfolio strategy in a book by Tony Robbins just unsure how to get started as I've never done this before.

>>2034116
Total stock market index is up 6,87% in 12 months, I call bullshit.

>>2034123
Here's some guidance for UK:
https://www.reddit.com/r/ukpersonalfinance/wiki/lumpsuminvestment

>>2034140
Ty boss

>>2034116
>>2034123

Sorry, looked at YTD, real number is +17.23 % for last 12 months.

>>2034140
>Total stock market index is up 6,87% in 12 months, I call bullshit.
30% of my shit is also in an international index which performed poorly

>>2034193
That % I used was wrong, the real one was +17.23 %.

Also don't worry about underperforming index funds, you just need to hold on to them long enough that the return averages to the normal 7%. There has never been a point in history that the market wont recover, even during the great depression.

Net Wealth: 4000€
- investments 600€
- bank account 3200€
- silver 200€
- cash 10€

Monthly income after tax: 1400
I do rent my own apartment and have a car, i am not sure what to do with my money if i am going to all in on crypto, or try to establish a business. I made some decent gains on crypto some month ago as i invested early in PIVX and cashed out 3000€. Overall i am pretty satisfied considering i was a NEET for 2 years and had debt of 2500€.

>>2034217
Crypto is just glorified gambling, put money in it if you can stomach it.

I'd just invest in index funds + bonds and see almost guaranteed income later on.

If you need the money for your business in less than couple years, then just keep the money in a savings account.

>>2034323
Are you kidding me, a guy that's actually knowledgeable about money on 4chan?

On a more serious note, when should we start pulling money out of our indexfunds for retirement? Because the scenario of me stacking up my index funds and then losing a large share of it when a depression happens just before I retire frightens me.

Furthermore, what's the thing you love most about financial independence?

How are coins not a scam, I dont get it, if you buy $5000 worth of coins at $0.001 and it moves even a half of a thousandth of a percent to $0.0015 you'd make $2.5k and if those numbers are too large still divide it all by 10 and you can still make $250 dollars off of them I just don't see it, its like the easiest get rich quick scheme

>>2034029
Why wouldn't you just invest in the 10 biggest coins?

Or better yet, invest in ICN (which is essentially a crypto ETF), who will then 1) pay you dividends, and 2) presumably rise in value, as the assets underlying the coin itself are the underlying assets they manage, similar to buying shares in a hedge fund or other similar investment group.

There are other similar coins/smart contracts, but ICN is the largest by market cap, and has the most liquidity.

Gambit (GAM) is another choice, but 1) it doesn't pay dividends, and 2) in order to have access to the full investment group associated with it, you have to pay a one-time member's fee of .75 BTC. You can still reap the benefits of the coin's increased value without joining the investment group, though.

>>2034391
Invest AT MINIMUM 10% of your money in bonds. When the stock market is down, you can use the bond fund to withdraw and ride through the depression (bond funds gain value when stock market goes down) and see your index funds rebound in 1-2 years.

>>2034391
And I forgot to answer the latter question. I'm not financially independent yet (just starting). But I'd love to just be able to do what I want. I'd probably start doing solo indie game development and carpentry.

>>2034419
You do realize someone actually needs to buy these 5k worth of coin right? U dont just magically get it when it goes up

>>2034217
>going to all in on crypto, or try to establish a business

Literally my life thoughts daily

>>2034323
>crypto is just gambling
>but "investing" in broad market funds built upon markets that are no longer creating value is

It's all fucking gambling. The stock market has a longer track record of success, but crypto is simply more volatile overall; it's not better or worse as an investment opportunity.

>>2034484
Yeah but say you did it with 5 different coins, or even 10, with the buzz around here I cant see it being too hard to unload 1000 to 500 of the different coins.

Age: 29

Net Wealth: 165 000$
- investments 125 000$
- bank accounts 40 000$
- debt 0

>>2034517
>Markets are not creating value
Hurr Durr I know economics.

Cryptocurrencies have no backing. They are pure supply/demand commodity. With stocks you get a piece of company and it's assets, bonds are guaranteed by governments.

>>2034523
Go for it then.. u are basically describing betting on cryptomarkets going up. Not the worst bet you can make desu

>>2034550
Im trying to figure out how now actually, Im going for a wallet and see what other essentials but im not really sure what materials are safe and what arent

>>2034323
thank you

>>2034542
>With stocks you get a piece of company and it's assets
*assets minus liabilities
>bonds are guaranteed by governments.
#notallbonds

>>2034619
Forgot to say that you should always also have enough money in bank to cover a couple months worth of expenses for emergencies.

>>2033867
Age: 21

Net Wealth: 20 000€
+ stocks 10 000€
+ shitcoins 2 000€
+ bank account 13 000€
- student debt 5 000€

Waiting for my US tax return. After that going to pump all money to an European LLC for personal tax planning. Looking to buy a small ad revenue website for 20K unless none of my personal projects in software take up wind or prove to be good enough for VC. Either way, the website should generate enough passive income for basic living needs when coupled with student living aids.