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Dumb ass shit your Family/Relatives/Friends Told you

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It's that time again faam. Dumb Ass Shit Your Family, Relatives or Friends told you about investing or business in general thread.

>Investing is risky business!
>Investing your money is for people who already have a lot!
>The stockmarket is rigged
>The stockmarket is random and completely unpredictable, so it's best not to bother
>I play computer games
>I just keep my money in my savings account, that way it collects interest and I can save up!
>Saving for retirement? Haha i don't plan to be alive that long.
>I'm too young/old to start a business
>I do not listen to Maybach music
>All the good business ideas were taken already
>All the smart products or services were already invented before me
>____? Nah that's nonsense! Just get a regular job ya dummy!
>Anon, you need to pay for us when we're older, we raised you afterall
>Cmon bro lend me $100, i need it to buy more Vemma, trust me it will make us earn MILLIONS
>Reinvesting your profits? That's retarded, why earn money if i don't spend it on fun?
>Live within my means? But Shaniqua/Johnny has that new iPhone 9s deluxe platinum edition, I need it too...
>I only work 40 hours a week but i wish to get rich
>I don't actively work on improving myself
>What's the point of books? I'm done all my reading!
>I play videogames lol it's fun!
>>
>>967796

well my parents think the stock market is controlled by the jews and when I told them I was investing they said " you think the jews are going to let you make any money?"
>>
>kuckcore.jpg
>>
>acne clothing
Nope
>>
>>967813
>>967817
I never understood it. Is it a /fa/ meme or did some people fall for the troll and now unironically recommend it?

>A SHIRT THAT LITERALLY SAYS WOMAN POWER
>>
>"Investing is no different than gambling"
>"You should invest in penny stocks"
>"I have a large allocation to bonds in my retirement account even though I'm in my 20s"
>"I hear Edward Jones is a good company to invest with"
>"The rich get richer because they're allowed to invest in hedge funds and private equity funds"
>"I'm being charged a 1% management fee; that's a good deal, right?"

Why isn't personal finance mandatory for high school students?
>>
>>967836
>Why isn't personal finance mandatory for high school students?

Because it's too much effort. Better to let dummies figure it out the hard way, or not figure it out at all.
>>
When one of your older relatives approaches you and asks how much money he should invest into this new 'Bitcoin' thing he's been hearing about so he can make it into the big leagues within a year of his initial investment.
>>
> Can't go anywhere in life unless you go to college
> you can't get an it job on your own
> take any job you can get
> there's no money in flipping stuff on eBay
> you have no future if you don't work a part time job
Most of this shit I was told within the past few days. Whenever I show then eVidence that they are wrong they just tell me those people got lucky.
>>
>ITT
>i'm the genius in the family but somehow i'm still living in the basement leeching them off like a parasite
>>
>>967874
>Making assumptions and/or projecting

No f4m.
>>
>>967874
More of people who see that their parents followed a dead end path and are willing to take risks to attempt to be successful.
>>
>>967812
I like your parents.
>>
>>967845
>Making a budget, managing cash flows and debt is too hard

God damn these are basic life skills.
>>
>don't invest!!! put your money in a 1% interest savings account instead
>go to university it will be worth it
>buy a house, renting is burning money

Thank god I wised up by myself early, currently 22 with 30k in index funds. I did go to university, which is free in europe, but I do think I could have achieved my goals (financial independence) earlier if I learned a trade instead. Also I'm renting a bottom of the barrel apartment close to work in a city I enjoy.

So I'm not doing too bad, but my parents are definitely very risk-averse and that made me waste basically 4 years I could have been investing.
>>
>>967796
>be around 8 years old
>dad and mom separated (live with dad also he has higher income)
>he buys a brand new dell back when they were really popular and were pushing their personalized ordering options
>ask dad if he can put some money in stocks for me to save for college
>"you don't want to buy stocks it's the same as gambling"
>convince mom to buy me some stock
>she tells my dad and asks if he wants to help put more money into stocks for my college
>dad convinces her it's gambling

I seriously would've been well off by now but I barely started investing right when I turned 18 and don't have much saved up (I'm 21 now)
>>
>>967796
>>All the good business ideas were taken already
>>All the smart products or services were already invented before me
This is probably the most insidious of lies. Competition is a good sign for viability, and the more boring the product (services are bad period) the more chance of success.
>>
>>967874
same, except genius in quotation marks
>>
A while back I was telling my dad about the drop in oil prices and the stock market, then he suddenly started talking about my inheritance and later bought a lottery ticket despite him knowing it is a waste of money, not usual behavior. I think I might have triggered a midlife crisis, I don't know, it was weird. Do people usually go all funny when talking about economics and finance? To me it isn't super serious, just a passing interest.
>>
>>968112
Maybe he was secretly investing in oil?
>>
>We should go back to the gold standard
>Investing in gold/silver is a good idea
>>
>>968075
i'm jelly senpai. i didn't figure out to put my money into index funds until i was over 30.

at least i have the internet. if i didn't have it, i probably would have never figured this shit out.
>>
>>968114
No. It sounds like dad traded natural gas basis. Those are the dumbest motherfuckers in the energy trading business.
>>
>It's okay to date outside of your race.
>>
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>Once you start working with money you'll be addicted and you'll go crazy
>Bankers are just immoral meanies, don't become a banker
>Investment is too risky, you'll never make money
>Only dummies go into finance

Literally my whole fucking family
>>
>>968075
>buy a house, renting is burning money

but thats good advice senpai desu desu
>>
>playing a small amount of video games, even one second worth, will have no detriment to your long-term success and will not instantly make you a loser
>>
>you can't time the market
>>
>>968229
This, I had to learn this the hard way.

Why didn't my familia tell me?
>>
>>967796
>>I do not listen to Maybach music
Most of what you said is alright to bash, but people who think old music = rich are idiots. Rich people listen to whatever they want, the rich people of the old days listened to Maybach because that's what was available.

Your music taste has no effect on your success or wealth, Bill Gates listens to Kanye West.
>>
>>968268
Pham I don't think you realize what maybach music is.

It's Rick Ross' record label, all the shit is getting money music
>>
>>968268

o man this is gold
>>
>stocks are too risky they're all gonna go down at once
>nah, I don't have a 401k man, I'm 30 but that's cool
>my savings account has interest so I'm good on money
>How much is a share? Wow, that's so much money for just one share, I'd rather buy 100 shares of something cheaper
>Tobacco stocks are bad because people are gonna stop smoking hurr durr bdurr cancer
>>
>>968268
>Imagining Bill Gates walking around the house singing "NO ONE MAN SHOULD HAVE ALL THAT POWER"
>>
>>967796
>Don't join the military
REEEEEEEEEEE
>>
>>968286
>Wanting to die for some retarded reason like a goy and getting raped during your medical and then basic training
>>
>>967796
>Don't buy used cars, they're dangerous
>Stocks are for rich people
>Only rich people have college funds
>Always keep at least two car notes; buy a new car when you've paid off one
>I hate my job
>I wish I did better in school
>No I won't help you with school
>>
>>968075
Trades are shit min wage or barely above min wage jobs in Europe. Often the work is exhausting and it's not worth the garbage salary you receive.
>>
>>968289
>Being this bitter Mommy and Daddy won't pay for your college tuition.

Kek
>>
>>967845
>>968058

>The government and teacher's union should be responsible for teaching my children basic life skills
>>
>>968308
>implying they shouldnt

We learn borderline useless shit like Geography and history already, why not a personal finance class?

Some people have shitty or unknowledgable parents, it would do some good to teach Johnny and Sally things that have a greater impact on them than when Archduke Franz Ferdinand was assassinated.
>>
>>968301
>>Being this bitter Mommy and Daddy won't pay for your college tuition.

Let's see how bitter they are when he won't help them when they're old :^)

I wonder how they'll feel lying in their old age and wondering why Anon never calls or visits them
>>
>>968301
I don't mind it; I'm going for an engineering degree, so the loan isn't setting me back much more than like six month's salary.

It's still poor financial sense, though.
>>
>>968310
uhm, if people know not to keep money in banks, how are the banks going to be able to make huge $$$ from their money?
>>
>>968310

My point wasn't that they should, it was that the quality would make it another "why fucking bother" class that your kids would be wasting tax payer money on.

You're expecting a system designed to teach you to be a good little goy lemmings, by barely qualified teachers who are usually in debt up to their own asses, to explain savings and investing to a generation that is blasted with the image that materialism is the only measure of success

>Some people have shitty or unknowledgable parents

Be honest, those same kids don't learn shit in school anyway.

This is the real reason that income inequality exists. Parents who don't give a shit have children that don't give a shit, which perpetuates the wage slave furnance.
>>
>>968346
True I guess.

Still I think it would be decent. Even literally reading investopedia articles out to the class would do some good.

Like in my case for example, my parents are retarded as it gets when it comes to personal finance and business in general. They still live in the 70's USSR in their heads where they think communism is good and sustainable. - if I didn't have the internet and just took them on their word I would be as retarded and broke as they are.

I think a personal finance can be fit in somewhere in the curriculum. Doesn't even need to be an actual class, just add some of it into a somewhat relevant one.
>>
>>968288
>>968286
military fag here. Not all military jobs are degrading like infantry. I personally can retire from my job at 29 with a pension. Not too shabby
>>
>>968356
You in the chairforce?

That could be pretty decent actually. I just assumed you meant infantry which is for braindead retards who rush to die in Goyim wars.
>>
>>967796
>investing in stocks is like gambling!
>let's invest all our money into property because it's a safe investment and we own it!
Dads having a tough time with business now and none of the property is being sold except one which was bought two years ago and is going at the same amount.
Guys I'm a young guy. What books would you recommend? I've read I'll teach you to be rich but it's too American and i dont know if index funds are the thing to invest in in india. What books have you guys read?
>>
> all these kids that sold a video game on ebay and now think they can live off the grid and get rich quick

Face it, when you grow our of 4chan youll get a 9-5 like a normal person. Thats how it works. Deal with it
>>
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>>968374
>I've read I'll teach you to be rich but it's too American and i dont know if index funds are the thing to invest in in india. What books have you guys read?

Not sure about India specific advice but I'd start by picking out some books that look interesting from pic related
>>
>>968404
>> all these kids that sold a video game on ebay and now think they can live off the grid and get rich quick

>Implying that's what anybody here is posting about

Way to completely miss the point, captain.
>>
>>968412
The entire thread is

> hurr durr I dont need a job I can risk all my money in the stock market!

Tell me what the fuck is the point
>>
>>968419
>> hurr durr I dont need a job I can risk all my money in the stock market!

>Missing the point even harder
LITERALLY NO ONE SAID/IMPLIED THAT.

Why are you strawmanning this hard?
>>
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>>968209

Have a cookie you fucking retard

>HBP NYMEX� Natural Gas Bear+ETF

>http://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/summary/?id=68268
>>
>it is not posible to open a business
>the markets are too close because there are a lot of enterprises with power and everything is already invented
>the people who have money are rich because they are all corrupts and thieves
He told me this while he pays TWO mortgages for the next 20 years, and he got mad because I told him that it is posible to open a business :/
>>
>>967871
>Can't go anywhere in life unless you go to college
Show me evidence, I want all the evidence you have please, it is for scientific reasons and to shut up students in debt
>>
>>968953
Lmao I heard the exact same thing. All 3 of those in fact.

Just stop talking to such losers if they're your friends, and if it's your familymember then just try to avoid that topic & discussion, and if it comes up just agree with them.

No point trying to help dumb goyim, just let them burn and help yourself get ahead.
>>
>>968960
He is one of my family members that come to visit from other coutry.. I felt bad because he started to throw me ad-hominems :/
The shitty part is that he can find me a job in the company that he works :(
I need it, at least to start saving some money anon.. I need to start somewhere
>>
>>968972
Cont...
I need to start to be a wageslave at least for a while... help me guys, give me advices, I have to get the fuck out of my parents house cuz Im not a teenager anymore..
Do you think that I have to take the job for a year just to have at least some savings to invest in my future and in the market?
>>
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>>968972
>I felt bad because he started to throw me ad-hominems :/
>The shitty part is that he can find me a job in the company that he works :(

Exactly, so think logically.

What do you gain from educating him on starting a business and investing? - Just about nothing, there is nothing to gain from this.
Changing the opinion of someone who is a grown adult is next to impossible as well, they're set in their ways and it's a waste of time.

But what can you gain from him? - Possibly monetary support, a job in the company he works at. So just use him for all he can give you, agree and say yes yes stock market is rigged by Lizardmen Jews and that businesses just fall onto your head and get that sweet job.


Same with your parents, if your parents are retards don't try to explain to them their financial mistakes or try to school them on anything, use them for free rent/food while it's there and gifts and inheritance in the future as well. - If they refuse to give either then fuckem stop talking to them all together, you have no time for losers, you're a winner.

But remember never try to educate people on anything if they show any sort of resistance, it's a waste of time and will lead to just argument and a loss of possible gifts that person may provide for you.
>>
>>968978
Hahahah anon you are a real jew, thanks for your advices
You made me remmember the movie, the boiler room :D
>>
>>968986
https://m.youtube.com/watch?v=JfIKzReNDF4
Video related
Anon jews dont get offended by wath I said.. it is just a meme
>>
>>967796
my parents are both highly educated, and thus gave me sound financial advice.
>>
>>967836
>Why isn't personal finance mandatory for high school students?
because if it were, a whole industry would go out of business.
>>
>>969006
You have to have at least 1 retard relative/friend
>>
>>969006
Even well educated people can sometimes give really shitty financial advice, especially parents.

I think parents are the worst to listen to. They first of all were your age at least 20 years ago, times change, the advice that worked when automobiles were just rolling onto the market will not work in the age of information.

And if you try to disagree...
>We are older and gave birth to you! We know better!
>Anon you're just a college student/young graduate! You don't even have any *real* life experience! Come back when you're as old as I am!

Unless by good advice you meant commonly accepted things and not bad advice, in which case occasionally that happens.
>>
>>968986
>>968990
And yes I liked that movie too.

The story wasn't the best but it was pretty entertaining.
>>
Thread
>>
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It's that time again faam. Dumb Ass Shit Nobel prize Laureates and academics told you about investing or business in general thread.

>Investing is risky business!
>The stockmarket is random and completely unpredictable, so it's best not to bother
>"Investing is no different than gambling"

Luckily we know better
>>
>you got laid off from your 60k/year job? Hurry up and accept the first offer you get. It's better to work at 10/h in miserable conditions that stay unemployed while you shop around
>>
>>969218
>Dumb Ass Shit Nobel prize Laureates and academics told you about investing or business in general thread.

Who and when did they say this?
>>
>Don't get a degree in construction management! You are wasting your time
>The future everything will be prebuilt

happy i did not listen to them now
>>
>>968086
entitlement the post

fucking millenial
>>
>>967836
>"Investing is no different than gambling"
Prove it in a way that a high school kid can understand though, easier said than done

>"You should invest in penny stocks"
Not necessarily a bad thing if they go up, you can make more of a return than you would with blue chip stocks

>"The rich get richer because they're allowed to invest in hedge funds and private equity funds"
Sort of true, a lot of them are locked out unless you have a large amount of money like 100k+
>>
>>968224
Dummies do go into Finance, an Accounting grad can do literally everything a Finance grad can do and more, plus better work life balance nad higher pay, plus infinitely more practical and actually useful if you want to start your own business
>>
>>969988
>Not necessarily a bad thing if they go up, you can make more of a return than you would with blue chip stocks

Penny stocks are a meme, with slightly more to it than just playing roulette at a casino.

>Sort of true, a lot of them are locked out unless you have a large amount of money like 100k+
>$100k+

Try $10million+
>>
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>>967796
This is my favourite:
>"Your father and I worked hard to get where we are today"
My father worked hard to get where he is today, my mother hasn't worked a day in her life.
>>
>>969218
Win a nobel price
Or AT LEAST show your account to prove it
>>
>>969989
>muh carrer is better
Accountatns are boring
>>
>>970133
>Completely disregarding what he said
>>
>>970138
Of course, it is retarded nonsence
>>
>>969988
>Sort of true, a lot of them are locked out unless you have a large amount of money like 100k+
The vast majority of hedge funds, net of management fees and incentive fees, don't provide higher risk-adjusted returns than index funds. There may be a select few (we're talking less than 20 out of ~10,000) hedge funds that can consistently outperform the markets. Just because they are for the "elite" doesn't mean they are "better." In fact they are pretty much all ripoffs.

Source: I used to invest in hedge funds for an institution.
>>
>>970140
What is retarded about it?

It is known that accounting majors can do finance jobs but not the other way around. You also have a better work-life balance, that's true. Pay relevant to hours worked is true as well since you might earn more but work 80hrs a week.

Accounting also teaches you about how businesses work and is widely applicable, again true as well for being useful to starting your own business.
>>
>>968990
Damn that speech hits me hard.
>>
>>970152
You writed it twice
Youare just a faggy student braging about your degree, go fuck yourself
Oh and Im not the guy you were talking
>>
Is this thread about being accountant vs being in finance?
No? Ah ok
>>
>>970170
What did I "writed twice"?

How am I even bragging you retard. Someone said Accounting is in fact better than Finance for several reasons, someone didn't even retort anything, just said "accountants are boring", i Then you said it's nonsense...You didn't make any argument either.
>>
>>970175
This thread is not about accountat vs finance, if you dont have anything to share about this thread topic go open a thread and brag about your chosen carrer there, retard :^)
>>
>>970179
This is literally my thread ya lil nigger.

I have made all the constructive posts, where are your relevant posts?

I responded because someone posted about it. Sounds like you're mad because you can't argue your side, just like the other mong.
>>
>>970183
Why are you so mad anon?

Is it because you are a frustrated accountant?
>>
>>970188
Are you a frustrated Finance major? You can't argue anything you just use ad hominems and try to sidestep the discussion.

Accounting is a better major than Finance.

You will be poor and broke, I am rich and successful.

You are a disappointment to everyone who know you, I am an inspiration to everyone who meets me.

You will be sad and depressed, I am and will be happy to enjoy life and enjoy my money and success.

You will hang yourself because of your bad choices, terrible major and missed opportunities, and I will continue my life improving myself and bring more and more successful while you rot in a grave forgotten because you majored in the wrong subject. Enjoy your major, "famm".
>>
>>970191
>that wall of mad words
>know he brags about his money
KEK
Im not a finance mayor :^)
>>
>>970206
Yeah you're probably a NEET
>>
>>968086
>Dad give me money
no
>Mom give me money
no

>I seriously would've been well off by now if my parents gave me money
>>
>>968289
>Always keep at least two car notes; buy a new car when you've paid off one

nobody ever said this.
>>
>>968374
>let's invest all our money into property because it's a safe investment and we own it!


itt we are talking about dumb shit people say.
>>
>>969743

>I refuse to work unless its a job i deserve!


millenial maxxxxxxiumum overdrive
>>
>>970215
>property cannot lose value
>putting almost all of your money into one asset, which belongs to the bank more than to you in most cases unless you're 40+ years old is good

Are you serious?
>>
>>970209
>>970213
>>970215
>>970218
Wtf Can you quote all the posts in one reply?

You don't need to post every minute to reply and write a fragment of a sentence.
>>
>>970224
He seems to be the type who's being ridiculed in the thread. Ignore him. >>970220
To their credit, property can't lose value here(developing country). But they used zero intelligence or effort in asset allocation. I mean they didn't even study anything. ANYTHING! We had a windfall a few years ago and had it been invested with a modicum of sense we'd be golden.
When I said I was going to live renting most of my life, I might as well have slapped their faces with my dick.
>>
>>967812
redpilled as fuck.. nice parents
>>
>>970208
Yeah you probably are a sussessful accountant who need to brag in a taiwanese imageboard :D
>>
>>967821
i think it started on Tumblr, a lot of posts and the brand started to blow up
>>
>>969995
bro thats fucking hilarious
Thread posts: 105
Thread images: 8


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