Bank accounts

How rich are your parents?

>>997250

They are well off compared to most, we are never worried about money.

All the money I have I earned myself through working. Maybe only $5,000 of it can be considered "gifts".

Reminder that your success in life is determined by the circumstances which you're born into, and anyone who says they got where they are through hard work alone is bullshitting.

>19
>having a child

never gonna make it cause you're a nigger/spick

>>997236
>>Dream car fund $10,000

what dream car cost 10K?

>>997271
None, you nigger. That's why it's called a fund, and that's why it only has that amount so far

>>997254
>Maybe only $5,000 of it can be considered "gifts".
That's not a small amount to a lot of people, unfortunately.
>All the money I have I earned myself through working.
So you've been able to save all the money you have earned? That's nice. Who's paying your living expenses? Who's paying for your food? Your education? Your vehicle and or other transportation costs? Who's paying for your clothing? Your entertainment? Every other bit of your living expenses?

I'm not unimpressed, you're doing very well for a 19 year old, but I hate the "I earned it all!" rhetoric when they having nothing to do but save money because everything else is being covered (or almost everything). Please correct me if I'm wrong about your situation...

>>997236
Why are you already saving for your children? If you do have kids you won't need to give them college money until 18 years after they're born.

Your dream car and children's futures would both be better used in investments since you shouldn't be touching either for a number of years. What's your dream car btw?

>>997254
What do you do to earn all that money by 19 years old? Do your parents own a business and gifted you a high paid manager position or something?

>>997267
my parents are poor slavs who never had any money

I'm the same age and have twice the money

how did circumstance make this happen

>>997292
this is good advice

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>>997267
Low enough moral compass, anyone can become rich. What are you willing to do for wealth? Who's back are you willing to step on? No man has ever made a million dollars honestly.

>>997335
It's just the left wing lazy reddit mentality. "He's more successful than I am so he must have rich parents!"

Poorfags don't realize that rich parents are harder on their children and try to breed success more so than poor parents.

My parents are wealthy and I've always been jealous of my middle class friends who get cars/consoles/phones/$100 phone plans/macbooks/etc gifted to them regularly.

>>997236
why the fuck do you have a children's future fund worth $12k that you will not touch for at least 8 years. Put that money into investments and your niglets will thank you.

>>997254
>All the money I have I earned myself through working. Maybe only $5,000 of it can be considered "gifts".

Did you earn it legally?

I don't see how you could earn that much through highschool without spending any. Assuming you've worked since 16 for 3 years $15k a year is very nice while being an HS student.

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>>997267
why are you even on /biz/

In this thread: Salty Poorfags who are railing op for being privileged

>When the fuck did we become tumblr?

>>997335
You got lucky, hence circumstances. There were lots of other people who worked just as hard.

>>997358
Because I enjoy discussions of business and economics, since I'm an aspiring entrepreneur. You don't have to deny reality to be interested in business.

>>997369
>You got lucky, hence circumstances. There were lots of other people who worked just as hard.

So is anyone successful just lucky?

You can literally call any single person good at anything successful.

>OH you're good at soccer? You're LUCKY you were born with legs.

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>>997347
I know that feel bro
>Tfw your Dad makes 20k euros a month but was born in a poor family so he tries to make you appreciate everything and so you have a 2 year old phone and 4 year old laptop which he still expects to last longer
My poorer friends get all this shit from their parents and then they are suprised as fuck when they visit me and I live in a mansion.

>>997384
No, just the very small percentage of them with rags to riches stories. They're the ones that coincidentally encounter opportunity instead of being born into it, making them the exception that proves the rule.

Hard work without opportunity will still get you nowhere.

>>997347
>tfw don't get any of that stuff and still won't inherit anything

Lower Middle Class ain't so great.

>>997369
but luck and circumstance are two entirely different things

are you trying to make the argument that there is no class mobility in america? you'd be crazy fucking wrong, even if it takes generations

>>997432
Know feel bro.

>TFW don't live all that well despite decent house and very little if any inheritance

>>997446
Yes, I am making the argument that class mobility is small enough to be considered negligible at present, and you seem to believe so too by implying it takes at least multiple generations. On those sorts of time scales you have a much less favorable signal to noise ratio.

>>997236
https://soundcloud.com/fecshrooms/696a

>>997267
>parents: guess what were having for supper kids? thats right potatoes and balogna again! for years and years

ya you're fucking stupid

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>>997236
>24
>4 accounts = $1.221M
>Personal expenses: $2k
>Liquid savings $6k
>Expenses: $2k
>Trust fund: $1.22M
>>997267
Not true senpai desu desu :^)

>>997452
The struggle is real. I'll be middle class by 45 due to making 80k at 26, but never getting that starting capital to get a car or pay for college or get a house down payment or cover a wedding (never happening anyways) means I keep getting put back 2 steps every 2-3 years.

Just broke even last year, I'll have my 15k emergency fund next March.

>Dream car fund $10,000

That could add a lot more mobility to your investments. 22K is going to give you that dream car faster than 12.

>>997457
>Potatoes (too much vitamin A) and bologna (everything bad)
>not rice, beans, eggs

That's not only poor, it's stupid.

>>997267
My parents have always lived paycheck to paycheck and I had 100K before I was 25. Granted that isn't a lot of money but you don't always have to follow your genetics.

>>997290
Answer this anon OP. I am curious what you're answers are?

Tho I also admit I am impressed that you manage to save so much by 19 regardless

>>997412
get over it faggot. you don't need a brand new phone every year you entitled little shit.

>>997328
You know you can begin working when you're15 so saving over 5 years makes $35k an easy target. $7k per year? Shut it's not like you pay rent

>>997412
Yeah my parents have a networth of high 8 figures USD but I've paid for my own phone since I was 13, bought my own computers, vehicles, never got help for gas or insurance. My friends who's parents work for 5-6 figure jobs have everything paid for (Brand new macbooks, iphone 6s, 2012+ commuter car, all insurance and gas paid for) while going to school.

Not pissed off at them for not giving me free shit but I don't think I would have turned out any differently had they helped me out here and there.

>>997538
This desu.

>Tfw parents go on vacation with your siblings regularly and buy tons of shit for them
>Tfw u get nothing, had to pay for your own schooling, car, phone, everything pretty much starting from ~16

Kind of sucks but whatever.

>>997538
honestly I wish my parents would have taught me more about finances and such.
That and actually parented me.
I do love em though.

>>997270
>Implying you can't save money for your future children
My father started saving up for me the day he got a full-time job, and by then he was only 17. I was born 10 years later.

OP here, didn't realize I'd get so many questions, let me just answer them now.

>>997267

I did not say I got everything through hard work, also you're born poor, you have nothing except yourself, if you die poor, it's your fault, because you have more things, like people who mean something to you, and possessions.

If you still think being born into the right family is the only way to be successful, then you chose the wrong parents and you fucked up.

>>997270

I'm saving for a future child(rens), which I plan to have at around 27-28 years old.

>>997271

Dream car "fund" for a reason.

>>997280

Thank you, for not being so retarded.

>>997290

$5,000 is a very small amount, if you think otherwise, you will forever be poor.

Not that it matters, but since you're so jealous, I don't have to pay for rent or food, since my parents are able too easily. I do however pay about $250 a month in entertainment and other bills and my own personal expenses like Netflix, Spotify, Drive, Mega.nz, and stuff like snacks, condoms, etc.

I also don't have a car, and just use my parents, and they pay my insurance, which is cheap because my grades are really good.

>>997292

I do agree with you, however, in 2016 I plan to make $20k a year, for the next 6 years of my college (double degree) so I will just up my investment fund while I'm in college.

>>997782
>Ignoring my post

So how did you earn that money?

>>997328

Parents work for the government, I just work during the summer and winter breaks, as well as during the entire year (full time in summer, winter), part time during the year, and I also have a few online things like buying/selling old stuff and sometimes I shovel snow or mow lawns for neighbours, and I get tipped at work a lot since I do in-home tech support sometimes, so I get $50 a week in tips easily on average usually by pregnant young women and old ladies, since I go the extra mile on all my jobs.

>>997340

I'll do anything.

>>997347

Same here, my parents don't get me new stuff, I usually wait 1-2 years after other kids before getting anything new. But I don't mind it really, I don't care about phones laptops alot, since I don't use them much.

>>997350

answered in post before this

>>997354

Working since I was 11/12, only got a real job at 15, and I have a few sources of passive income now and I'm working on generating another one that will provide $1k a month roughly.

>>997358
>>997360

This.

>>997384

Lmfao

>>997412

Same here, my poorer friends live in apartments, or government sponsored housing but drive bmw's and mercedes' (old ones, but still) and then they come to my house and see it and they're so surprised and always say "names" BALLIN!

>>997418

Hard work without opportunity will not get you far I agree, but the rest I don't agree with.

>>997468

answered in above post

>>997472

This.

>>997476

answered in previous post

>>997511

This

>>997538

Me too, if I got one or two things here or there, I would have been probably the same or better (socially)

>>997783

answered it here man

>>997784

>>997782
>$5,000 is a very small amount, if you think otherwise, you will forever be poor.
I didn't say it was or wasn't; I was saying it depends on your perspective. I simply wanted to point out that a lot of 19 year olds are very hard pressed to save even $5,000. That's why I said "unfortunately" it's not a small amount to most people.
>Not that it matters, but since you're so jealous (kek), I don't have to pay for rent or food, since my parents are able too easily. I do however pay about $250 a month in entertainment and other bills and my own personal expenses like Netflix, Spotify, Drive, Mega.nz, and stuff like snacks, condoms, etc. I also don't have a car, and just use my parents, and they pay my insurance, which is cheap because my grades are really good.

If I wouldn't have had to pay for any of my personal expenses, I would have had over $35,000 at age 19, too. Don't try to deflect what you're getting from your parents and recognize the gift they are giving you by allowing you to save. They're not giving you cash directly, but they might as well be when you don't have to pay anything to live and you're over the age of 18. Kudos on saving though, and not blowing it. I hope you keep saving and investing.

For the people who seem mystified how OP could possibly save that much, then consider that amount of money is about two years of full time work at minimum wage. Work when you're 18 and 19, and have mommy and daddy pay for everything, and have the willpower to save all your earned pay and boom, we all have $30,000 at 19 years old. It's great, better than most of his peers (far better), but he's getting big help and is not doing anything extraordinary beyond being a responsible individual with parents that treat him well.

>>997827

Meh you're right I guess in summary.

When I finish college my dad has promised me a sum of money to invest with. (I'm in business and statistics double degree).

$100k... + he'll help me pay for my first house. ($350k - $600k or something I think), pretty average where I live.

>>997270
interesting... let see...
>kid at 19 and at 23
>I'm 25 now, out of my MBA, making 75k a year
>was gf, now wife was 16 and now 22 respectively, she chose to stay with kids so I could college
>she runs a very sucessful side business making meh 30k after tax a year
>we are white
>both of our families are low middle class, we chose to make a better future for our kids
>sitting for my CPA in 6 months

so, before you make sweeping generalities, maybe you should do some reading on will power, persistence, and consistency.

Won't go into bank accounts, but we are worth about 123k currently. build from -15k for my undergrad

get sum

>>998186
why would you do cpa and mba?

>>998186
>she runs a very sucessful side business
>making meh 30k after tax a year

kek

>>998192
sucking dick lol

>>998192
she works 2 hours a week, at most, from home with kids, in her pjs - so yes...... "top kek" her $294.12/ hour

>>998191
in Ohio, you need 150 credit hours to sit for CPA. do double major or masters in something to meet requirements.
also, my work paid for my MBA in full... so why not... it's a healthcare management specialty... plan on running hospital or something down the road.

>>998192
I'll be waiting to hear your hourly rate, anon....

>>998198
she sucks my dick. has since high school. it's great

>>997236
Unlike a lot of you """"""""""""""""rich""""""""""""""" faggots i dont have wealthy parents with millions in assets
21 college kid living on own.

Checking: $$14.49
Saving: $$0
Credit Debt: - $ 781.33

Investing: $12 - pennie stocks

>>998240
you're excuses may be legitimate, but they won't get you where you wanna go

>>998240
Stop spending money you don't have poorfag

LMAOing at ur life

>>998244
i'm building up. perhaps i'll be worth 10k NYE2017

>>998249
a lot of people spend money they dont have on college. i think its a very good risk to take.

>>998252
But it says credit debt

>>998253
by credit debt i mean on all my accounts i do have credit card debt at around $40 but that's just to cash in on the cashback it'll be payed off by statement end.

anyway as a whole i meant debt ON my credit. including school accounts still owed for this coming semester.

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>>997335
Just ignore this retard and his leftist tendencies. He has failed at life and has given up and is looking for ways to rationalize his failure. Instead of owning up to his mistakes and bad choices like a person with conviction, he will claim that successful people are "lucky" or "born that way".

He will try to pain a picture in which successful people are the result of a dice roll and didn't work hard to get where they are now. Because if the successful people didn't work hard and thus didn't really "succeed", he can tell himself that he didn't really fail.

But don't bother arguing with him for he will NEVER admit that someone successful worked hard, that would mean opening the door to his own self doubt.

>>997236
21
Chequing $250
Student LOC $20K
Oustanding loan $8k
Credit cards $2.5k
No assets aside from 2 guitars and a pontiac sunfire worth 4k total at best
Net worth: -$26.25k
Just end my misery

>>997845
You're not just lucky, you're exceedingly lucky. That may not seem like much in /biz/ land, but holy shit, you will never live an average life. That is far above what most people get, and then some. I hope you feel incredibly lucky, blesses, and APPRECIATE it.

And stop coming to /biz/ and acting like you've made it when you're getting all that. Jesus Christ.

>>998303
I'd kill myself.

>>997236
Your good at saving money, parents pay the rest of everything.
I have a cousin who I'm pretty sure is autistic and lives with his mom at 28. He has a shit load of money becuase she does everything and he only pays for his motorcycle

>>997236

What is your dream car?

>>999988

2004 Lamborghini Gallardo in Verde Ithaca

>>1000221

https://www.youtube.com/watch?v=xUP6rifWNlU

Follow his advice :>)

>>997347
My father worked from himself up from dirt poor(relatively speaking, I'm Swedish) farmer's son, to relatively successful entrepreneur with 20 employees and a solid middle class life and income with some real estate and quite a lot of stocks on the side.

He always kicked it into me that your very fucking purpose in this life is to leave more for your children than you got from your own parents. So that's what I do. I'm getting an education, working with dad almost full time and whenever I get a spare moment I have this small business that I try to get going.

>>997267
So all those über-wealthy people like Bill Gates, Warren Buffet, Ingvar Kamprad etc etc who came from working class/middle class backgrounds were gifted their vast fortunes and corporate empires?

Sure thing, if you are born with a silver spoon in your mouth it gets easier, but it wasn't and still isn't impossible at all to make it to the very top starting from nothing.

>>997292
I started saving for my children the very first day I heard my gf was pregnant.

Uni is free where I live, and I don't intend for the kids to see that money until they are 25-30. They must learn to respect and appreciate money before I'm willing to give it to them. Giving 1 million dollars to an 18-year old is 1. a waste 2. irresponsible parenting

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Emergency: 10k
Savings: 12k
Personal Investing: 5k
401k: 6k

Total: 33k

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>>997236
>19
>childrens' futures
Nigga...

>>1000424
>bill gates
>working class

>>1000547
You missed that I wrote middle class?

>>1000544
The earlier the better.

>12

>bank where I have a mortgage: around 2000
>bank where I have a loan: about 1200
>invested: none - I just blew everything to buy a house.

>>997267

My parents are fucktards who can't into money.

Over the last two years I loaned my dad almost 9000€ before telling him to fuck off and stop leeching from me.
My mom's on welfare and isn't even TRYING to find a job.
They're divorced.


I started working 2 years ago, and as of this moment my networth is twice my dad's and +inf times my mom's.

I have a house to my name (neither of my parents does) and I have a car.

All I did was find a not-so-well-paid job and not blow all the fucking money in drugs and hookers.

How did circumstance do this?

You're an idiot.

>>1000674
>12

meant 21, obviously.

>>1000221
>Lamborghini

Oh brother

Typical richfag lol

>>997236
>29
>Checking 3,000
>Emergency fund 6,600
>Travel 690
>401k 60,000 fully vested

>23
>$14.35

>>998203
soo shes a cam whore. link?

28 y/o
checking @0% 4k
savings @0% 15k (for 1 more month to get $500, then a taxable investment account i guess, effective rate is >10% too bad it doesnt scale)
high yield savings 15k @5%
high yield savings 5k @6%

IRA 5k
401k 4k

Hmm.

>22

>1 account = $493

>Checking: $493

>>997845
were you the shit poster earlier this week asking biz for advice on what to invest in with daddy's 100k?

>>997236
5 accounts
1 150000 eur
2 100000 eur
3 100000 eur
4 5000 eur
5 13000 gbp

inland revenue is gonna take anything from 25000 to 75000 eur off me for this tax year

Checking $1
Savings $104
Credit Cards $9,799

I woke up before the damage was irreversible. I have paid 40% of my debt, no bills were ever late and I'm committed to change, so I most of my paycheck goes towards debt. Will be free in 5 months and I have learned a lot about finances. This will never happen again.

>26

>Checking: 1k
>Savings: 13k
>Investments: 6k

Had $0 nine months ago after paying off my loans. 401k will finally match me in 2 weeks so that'll add another 3k (my company only matches at the end of the year)

>>997254
OMG CHECK YOU'RE PRIVELADGE

>>997545
Hi Cinderella

>>997335 >>997340 >>997358 >>997457 >>997462 >>997472 >>997782 >>1000424 >>1000684
workcel cope

>>998186
Your kids are 4 years apart, but your wife's are 6 apart?

>>1000428
OP said:
>I'm saving for a future child(rens), which I plan to have at around 27-28 years old
and he's 19 years old. He's letting 1/3 of his wealth stagnate because he wants to have money saved for something specific that he has no chance of needing until 8 years from now.

If you have a stable income you shouldn't need to make a "child fund" aside from whatever government assisted education investments there are in your country.

>>997267

My parents both grew up dirt poor tobacco farmers and now live in a very affluent neighborhood in a large city.

They both worked their fucking asses off you prick.

>33

>High Interest Savings: $35,200
>Day-to-day account: $2,200
>Bills accounts (shared with gf): ~$400 depending on month
>Investment property: $35,000-40,000. On the market
>Credit card: $-980.00
>Superfund (like a 401k, except employer pays it): $33,000

The idea of the high interest savings was to put it into a managed fund to make a modest return. I don't want to risk it pushing for higher returns and quick money, i just didn't want it sitting there doing nothing. But as it grows, I'm more and more hesitant to hand it over to someone else.

Once the investment property sells im going to have between $70,000 - $80,000 savings. I'm either going to roll it all over into another investment property in areas i know are about to boom, or invest it in a managed fund. Again, handing it over to someone else to manage scares me.

TFW 21 and make 35K a year (which is above median income here by 10K), live with parents with only $145+122 in month for bills and still have only $150 saved up.

What the fuck do I need to do? I just can't resist spending my money and enjoying it, despite needing to pay off my car and save for other things.

>>1002263

You open a separate account that is your "do-not-touch" account. Most banks have a savings account that pays compound interest monthly at the current cash rate (3-3.5%). The interest is calculated daily, so you make sure you deposit at the beginning of the month. In order to receive the interest you have to make a minimum monthly deposit and not make any withdrawals.

Once setup, you calculate your budget and be honest about it. You identify how much you can put away into your new "dont-fucking-touch" account. If you're making $3k a month but only obligated to $300 out in bills, you should be able to deposit $1k minimum. That $1000 is no longer YOUR money. You don't think of it as money you can spend, it's $1000 every month gone, make peace with this fact.

Once you've re-programmed yourself to this way of thinking, you'll save like a little champ. The MORE money you have saved, the LESS inclined you will be to spend it. That's the poor trap. "I don't have any money anyway, so spending this little bit i have doesnt matter". The larger you account grows, the greater the satisfaction, the more you'll want to see it grow.

>checking account: $8000
>debt: -$65,000

Med school just fucking my financial shit up.

I expect to be around -$160,000 in debt from school when I get my MD. I went to undergrad for free so that was nice.

Hopefully I can make some serious money my first couple years and be debt free, or invent a medical device and patent it.

>>1002591
better not go primary care

>>997236
>19
>35k
dont fucking believe desu

>>1002832

read whole thread then bitchu

>>997538
You should be really grateful for your parents.
That is the best kind of new rich, making their children appreciate everything instead of flooding them with money.

>>997538
that's probably because you lived in the rich part of your city
try getting a job in the other side...

>>997845
and here you go, you already have life insurance, even, EVEN, if they weren't going to give you a single dime.
that's the difference between rich and poor people: poor people don't even have any security in their lives.

of course there is also education... people don't know how to manage their money, or don't even know how to sum 2 + 2...

>>1003143
I am grateful but they obviously fucked up somewhere seeing as how I browse 4chan almost daily.
>>1003237
Nah my entire city is mixed wealth. The high school I went to was built in the late 1800s and I was friends with plenty of people who lived in trailers and duplexes.

Maybe it's hard to get going if you live in Compton or some shit, but it's not any harder to get a job somewhere if you're poor, given you have the proper skills/experience.

>23

>Emergency fund: $10k
>Day-to-day checking: $3k-$5k depending on expenditures
>Investments: $23k
>No debt
>Family very well off but I've earned everything personally because of fallout with dad

>>1003258

Lol, my parents also have 1 and a half million dollars in life insurance, 750k each, 250k from work place, 500k from insurance company

ha..... I guess I am pretty lucky

>>1003517
>>1003421
>I don't have to pay for rent or food, since my parents are able too easily. I do however pay about $250 a month
>about $250 a month
>month


nothing to brag honestly, you could cut some expenses by
>pirating movies and music instead of paying for streaming services
>buying snacks, not going to the grocery store with mom and get free snacks for helping her with the bags
>buying condoms, go to your local public clinic and get them for free