RichBot General

the only good reason to get a ton of money is to get out of the rat race and then devote yourself to destroying capitalism

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>>36822552
> Low-cost index ETFs, rental real estate, and penny pinching

Requesting more details on what ETFs you've bought and your real estate situation pls.
Been holding some Visa stocks for some months now, they've done ok.

>>36822552
>22
>bit over 3 million$
>dividend stocks, etfs and index funds

>>36822849
> ETFS
Read this and you will know everything you ever needed to know: http://jlcollinsnh.com/stock-series/
Spoiler: If your brokerage account is through Vanguard buy VTSAX, if through Schwab buy SCHB (these are the two lowest-fee index ETFs available).

> real estate
I purchased a 3 bedroom home near my work in a middle-class suburb of a major city and rent out two of the rooms, and that money pays for the house.

> penny pinching
The greatest book on finance and escaping the rat race is Early Retirement Extreme, followed by Your Money or Your Life

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>>36822973

Thx for the link mayne!

>I purchased a 3 bedroom home near my work in a middle-class suburb of a major city and rent out two of the rooms, and that money pays for the house.

So you're sharing kitchen and bathroom, just curious, how much are they paying and are they ok to live together with?

>>36823106
I'm in the master bedroom on one side of the house, with a private bathroom. They're on the other side, sharing a bathroom with each other. They're paying ~$600/mo each. They are wonderful roommates, I can't believe I was so lucky to find them through craigslist.

I looked at Visa stock btw, that's an incredible chart. As long as you bought it after 2009 you've seen amazing returns.

>>36823106
I also meant to recommend Rich Dad Poor Dad as an investment book, it's basic but you will fully comprehend the difference between an asset and a liability when you finish it.

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>>36823247

Congrads man, tenants seem tricky as hell to deal with. I actually have a few houses too, one I've had tenants in for some years now, first couple was a disaster but the current old lady is great, one's been sitting empty and another I'm about to get a tenant to now. It's outside the city though, roughly $450 a month and I think it's been going at break-even so far, any time a few rooms need new ceiling or something it's the cost of a years rent pretty much, other day tenant told me she'd forgotten the stove on and cracked its glass cover, that cost half a months rent to replace etc., but it's interesting kek.

Cheers. holding on to the Visa for now, overall we seem to be in a bullish stock market at the moment so it's easy to pick a gainer, I guess my biggest pondering is when it's time to get out. In my country they're discussing gradually raising the interests from this year and on, so I guess we'll see by next year or so.

>>36823277
Thx!

>>36823492
That story about the tenant leaving the stove on is why I'm hesitating about buying another property. Mortgage rates are so low, I'll probably pull the trigger.

What country are you in?

>>36823667

Sweden

Do you have any properties for sale nearby the one you're in?
I've always been very split about it, for sure the population is increasing and people need places to live, prices will go up and low interests indeed, then there's all maintenance and trouble, feels like there's a lot of other things that could give better interest but using lending as leverage I guess banks might be more keen towards actual property than other stuff, then again many brokerages seem to allow some degree of lending as well.

>>36822882

>bit over 3 million at 22

How? Inheritance or got lucky with BTC or something like that?

>>36823888
There are a couple houses for sale near me. I've never heard of banks lending money to invest in ETFs, the way I see the investments is:

ETFs: Higher rate of return that real estate, no work required, but I have to provide all the capital

Real estate: Lower rate of return that an ETF, requires work, but other people provide most of the capital. I'm also in Texas, which has very high property taxes (2%).

I've heard this quote before: "The quickest way to become a millionaire is to borrow a million dollars and have other people pay it back for you."

Decisions, decisions...

>20
>$0, I live off of a trustfund provided by my father
>Have a parent that is rich

>tfw only middle class
:C

>>36824055
So you will get perpetual monthly income? How much?

>>36824027

Nobody will lend you money just to buy a house and lend it back to other people, unless you have stable and significant income. This is 2017 not 1917

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>>36824027

That's very well summed up, best of luck whatever you choose to do. Also, having several properties I think they might support eachother in a way too, a repaint, new heating system, a well or whatnot might be supported by the income from the others.

I've never checked but I think banks here are reluctant to lend towards ETFs and the likes here too but things like wind turbines works, few years ago that was a very popular thing here, typically a 2mw turbine gave a 12-15% return, so people lent as much as allowed to buy their share in one. Now the electricity prices are so low they're running with a loss though.

>>36824158
You worded that oddly, are you saying "no one will lend you money unless you have a stable and significant income?" Then yes, you are correct.

>$380k net worth
>rich

lmao'ing at you

>>36824320

>380k makes OP in the top 3.31%
>not rich

Gimme a break da yo ne

>>36822552
pay for my hormones and ill be your live in trap house bitch