Apparently, 2 million is the point compound interest goes crazy. How will a working class person ever catch up to the rich?

>>60575311 (OP)
Only way to make it is gambling these days

https://dexscreener.com/solana/79ptc9uswhxzt9aawwrax95nwg1u6tqtqq2dnmgukzvt

Yeah and you get taxed out the ass on it too unless you dump it in a savings bank account that you don't touch for 5 years.

>>60575311 (OP)
Skill issue. Get a higher paying job.

>>60575358
No you dont. The rich just leave it in their investments accounts.

>>60575363
Theres a point where you passive income puts you in the top 5% income. Having a job at that point makes no sense retard. lmfao. what job is paying 200k, dont forget the stress of work.

>>60575311 (OP)
Compound interest gets you to 2 mil in the first place. I’m at 1.3

Once you get 2 mil it grows by an average of 200k a year all on its own

>>60575382
Cool. Balllerrrrr
And people dont believe me when I say i am retired at 30

>>60575363
Clémence Poésy is still (unconventionally) attractive.

>>60575382
Cant wait for a million a year.

>>60575392
>10/10 in bongland

>>60575382
wow. bro. it really shows that a million a year really isnt much huh. No i get why some rich people cap their income.

how do i 10x easily

>>60575311 (OP)
Obviously a working class person has pretty much no chance to catch up to the rich. But living like an indigent and investing every spare penny you can is the only hope of the common man. No fucking going out to eat, no 120$ a month cell phone bill, no living by yourself when you have an extra room you can rent out, no cars that aren't just clunkers.

You MUST have passive income. If the average wage is 60k and 50k of that automatically goes towards necesities, investing the rest is your only hope.

How do you compound 2 milly safely though? Say in a saving acct at 4.5% it's only 90k a year. And what saving account pays out 2 mil accounts? Or are you still exposed to stock market ups and downs? Yeh sure 2 mil could in theory keep growing but it could also half and crab and you will have zero capital inflow unless you start selling the bottom..

>>60575358
technically that interest is taxable too. The IRS probably just won't care if it's only like 100 bucks a year.

Anyone stupid enough to leave their money in a savings account just becasue they are afraid of taxes, is an idiot though. Savings accounts are for emergency funds only.

>>60575422

USDC, open a long position with 100x leverage. Easy money. Can't believe more people aren't doing this.

>>60575432
Why do you need it to be "safe?" It's 2 million fucking dollars, who cares if the market drops 30%, you still could live off of the rest even if it's depressing.

If you actually have 2 million, you just leave it in ETFs. Even if the market tanks, you still get like 30k from dividends alone in the S&P 500. or you can do like 500k into a higher dividend etf that's not as volatile. That can also get you like 20k in dividends if placed in SCHD.

Keep in mind the dividends are tax free up to 48k or so, if you can't struggle on 48k tax free temporarily then you probably got the 2 million through gambling anyways.

>>60575432
You want 2 million that you are never go to need to use. So you should have a few million somewhere else.

>>60575450
Wtf? You dont want the 2 million fluctuating.

>>60575450
I am not American so I guess our tax will be different. I made all my money in crypto I do not know stocks, but crypto volatility would be fucked at 2 mil. True re 30% drop tho.. I also don't own property so I guess I'd want that, but in theory its smarter to rent and let it compound more.. idk I want to make this a reality for myself but need to understand some things still.

>>60575461
He isnt wrong but rich people dont want their entire networth fluctuating. Its different if you have 2 m in one account and 2m in another.

>>60575458
Yeh I kind of figured that. I think at that rate desu I can life off 45k/a pretty comfy. So 1 milly is the goal there but I need a property. In theory I will keep making money anyway and reinvest etc. But for a safe future. I think 2 mil to keep 1 untouched the rest setting up my new life.. maybe is a good goal.

>>60575461
You also have to think from a management perspective. Your clients dont want to deal with markwt volatility and dont want months or a year or years where the 2m is underwater.

>>60575363
British women age like shit

>>60575460
I was at just over 2 million during the 2008 crash, and my only concern was selling off my bonds to buy more stocks during the fire sale.

>>60575465
What is rich then? 2 mil total seems not rich, lots of management and penny pinching still. Which I am ok with but seems not how they'd go about it. I see large potential I hit that 2 mil target and watch it decimated in a bear so kind of want a bit of a plan.

>>60575471
Sure but if my client is myself I can deal.. however I see that as no different to how I am playing the market now just with less money.

>>60575479
2m isnt rich because lets say you have only have 2m. Okay, but nice home cost over a mill. like bare minutes homes in accepted nice areas start at a mill. So yeah. Thats why the public is so angry and every is and feels poor. The poors are living with all sorts of garbage. Like immigrants, low class people, low value people, browns and blacks, so being poor puts you around bottom tier people which makes you feel poorer.

>>60575485
It’s different. You dont want fluctuations. I didnt understand that before. I was always wondering why there are sale offs and flights to safety.

>>60575479
Just keep 1M in risky stuff. and like 500k in savingd accounts out or low yield shit. It IS better to have an asset manager.

>>60575363
Ginny turned into Vitalik

>>60575487
>2m isn't rich
>1m homes
Yeh I get that, I am living in it too. But for my country it is largely city based. If I make enough to never wage I will leave my city.
>>60575491
Why is that? Sorry if thats dumb to ask. Like obviously if you NEED your x% withdraw to survive you don't want it going down, but no market goes only up.. You can survive a year or two without touching if needed.. or is this all to negate these things?

>>60575505
>It IS better to have an asset manager.
At what nw does it become worth it? I assume the money saved/made covers the cost at some point.

>>60575363
fleur de la couer my ass

>>60575514
Cause a 20-30 drawdown in your portfolio or part of it means that one is in moderate high risk stuff. You know even the s-p is considered high risk?
Because having your entire networth in a high risk asset is risky. So rich guy in his 80s told me he withdrew in November cause he sensed market turmoil. He went back in april. Nigger owns 10 houses and he tells me he doesn’t like volatility. And thats the vibe i get from people.

>>60575520
You know what lol.
Canada and usa is such a shithole.
At my old bank, we had a section for wealthy people, like a seperate line up at the tellers kek. but right next to regular people. but canada bought hsbc lol.
Does Uk or Europe still have it?

>>60575429
>he doesn't know that historically when things go tits up enough that you can't rely on income, you also probably are not gonna be able to rely on a modest amount of accumulated wealth either.

>>60575564
What?
I hear people go like
>i will buy things when they are cheap!
but smarter people go like
>prices drop cause no one has money

>>60575571
prices bottoming out is generally not the result of an economy going tits up. what usually happens is even if you got money, you sure as shit can't afford fuck all with it. the amount you have to have reserved to weather a failing economoy is achievable only at the corporate scale.

>>60575363
pre-wall emma is insane tier boner material

>>60575584
I guess, when 2008 happened, no one in my area and school really cared. Diversified and cash on hand to get sales. All my classmates had retired parents already. However, isnt 90% of the market own by 10%.
Also, during a tits up event, those that are over leveraged, aka most fake rich people, get caught with their pants down.

>>60575594
recession =/= a serious crash. you thought that shit was bad, whewee! wait until there's a food bubble!

>>60575615
A serious crash. Market tanks 70% and takes 5+ years to recover? Sounds yummy.

>>60575542
I guess it becomes a personal choice of how you wish to be exposed.
>>60575545
Not sure, Aus here but I never step into a bank.

>>60575675
It depends how diversified you want to be

>>60575363
none of those girls were attractive to begin with.

>>60575363
What is this phenomenon called?

>>60575846
its called hitting the wall

>>60575437
Worked for me.

>>60575311 (OP)
Probably by investing in hydrogen energy and quantum computing stocks. Or simply drug dealing..

>>60575311 (OP)
Depends on the country.

In UK yeah it's essentially impossible for anyone to catch up even at £1 mil since this gives £100k interest a year and very, very few careers will pay this much after tax.

In USA it's probably more like $3 mil given the absolute abundance of jobs which pay $100k after tax

>>60575311 (OP)
>Apparently, 2 million is the point compound interest goes crazy
bullshit. Inflation eats up everything.

And taxes obviously

this kind of constant wallowing on x and reddit is so fuckin pathetic. You want money, i want money, everyone wants money. either fight or drop dead, but this kind of
>its not fair q_q
snivelling is pathetic.

>>60575588
Makes me more flaccid that 1g of pure mdma in a scottish winter

>>60575311 (OP)
>How will a working class person ever catch up to the rich?

You can start by not paying your taxes, and investing the money that would have gone to taxes instead.

Poor people stay poor because they get raped for 30% of their income at all times, when that 30% could have been used to secure their future.

Eternal poverty is worse than whatever fine of punishment the government can give to you for not paying your taxes. I'm not saying to lie on your taxes, simply don't pay them at all. Fade out from their system. Work cash only do whatever it takes to keep all your money and be invisible to the system, and invest. everything.

You can KYC and prove source of your wealth without having paid taxes on it. Just never file, let the government put the pieces together and cry about it, and when/if they send you a letter, then you burn it.

If they send an agent play dumb. If they tell you that you have to do something, engage minimum compliance mode and drag out the process as long as possible (so you can keep earning off your investment).

>>60575311 (OP)
Go to Japan and getting 2 million yuan isn’t hard

if you are an american a great way to not pay taxes is "foreign earned income tax exclusion", and then you go work in a shithole in the middle east or africa for a US contracting company and get 109k tax-free per year, legally

this lets you stay 'above the table' while still being tax free, and being able to pump everything into investments

many states don't have income tax, so you get your residency in a state with no income tax, go work overseas for 100k+ a year, then pay no taxes on it

there is a form which you can fill out that makes it so your company you work for no longer automatically withholds income tax, so you get 100% of what they owe you into your bank account every payday except for social security and medicaid faggotry of course, and they can't do shit about it

they will HATE IT and might even whine about it, but you can find the paperwork online easy, and a lawyer can write you a threat paper for $200 if they bitch too hard

working overseas and then doing cash-only jobs when I wasn't overseas and investing everything is why I am a multi millionaire at age 38

just don't pay taxes, live overseas when you can, live cash-only, and when you have a nice healthy nest egg you can go 'legit' if you want and get your taxes in order

even if they hit you with a 300k tax fine for not paying taxes for 15 years, if you grew your wealth to 10m dollars it doesn't matter

all you are doing is deferring the consequences of not playing by their rules, until you have the resources to not be harmed by the consequences, which is what all richfags and corporations do

Everything is fake and gay. Never forget that. Never assume the system is 'secure' and 'impossible to game'.

I got secret and TS clearances without having paid any taxes in 5 years, and having never ever filed a state tax return, and also without having a valid US residence, just a PO box.

Everything is fake and a farce.

As long as you have a credible foundation to build your house of cards off of, nobody is going to knock it over, for fear of you knocking theirs over.

EVERYTHING is fake and gay.

Playing by the rules established by people who want to keep your poor labor class is how you stay poor.

Yes the system is designed to keep you down. So play outside the system, how all richfags and companies do already.

Remember: the goal is to make your stack and protect it before the consequences manifest.

There are many ways to do this, if its offshoring, llc's, c-companies, etc. Richfags have lots of ways to protect their wealth from being raped by the consequences of the shit they get caught for.

It's more accurate to say there are 2 systems.
1 for poor people, and 1 for richfags. Richfag system requires capital to work, so your GOAL is to reach the minimum wealth threshold to where you can start hiding and protecting your wealth, like a richfag.

It takes patience (especially when it comes to capital gains, and only ever using long term capital gains taxes), but you can do it starting with nothing.

Working class doesn't catch up. That's the point. Compound interest is great if you have millions to begin with. For normies, it's about getting to that first million through other means – a business, highly speculative crypto plays, or extreme frugality and disciplined saving

0DTE options

Offshoring is great.

Basically you take a huge chunk of your wealth and transfer it to a trusted third party in another country, like a 'wife' or 'business partner', and have a house, business, and bank account in their name in an entirely different country.

Yes you are exposing that wealth to laws in a different country, but because you can bounce your resources around now that you have multiple entities to play with, you can also avoid the worst of it on that end.

Offshore banks and corporations are also a good place to stash wealth. You set up an LLC and fund it, then you move it offshore to a place that doesn't report to your home country.

You can do this in dubai with a shelf company, and instantly protect about 500k of your assets at the lowest tier tax free forever, with a $500 a year fee paid to UAE and $10,000 of imaginary revenue/business expenses. It costs more the larger your company is(more assets to prortect) If you get sued in the USA or wherever else, they cannot get your money in the UAE, so its a perfect emergency storage.

>>60575363
Would. Would. Would. Would. Would. And would.

>how do you generate $10,000 of imaginary business expenses?

You buy a bunch of stuff you need for operating your business, then sell it to somebody else doing the same thing.

You can do this in the USA also if you are using small business loans/grants. As I said before, everything (almost) is fake and gay.

This should make sense, because all money is fake and gay, and the way to generate it is fake and gay also.

YOU WERE RAISED TO BELIEVE THAT RULES EXIST AND ARE A GOOD THING TO FOLLOW.

This is simply niggercattle programming. Once you shed your programming and see the system for what it is (designed to exploit you), then you can discard the system as being illegitimate and enter the great and terrifying vastness of 'opportunity and risk'

There is NO WAY to get rich starting with nothing, by following the rules. None. That is by design.

>>60575410
>10/10 in bongland
what about in France, where she's actually from?

>>60575311 (OP)
>How will a working class person ever catch up to the rich?

It's not that hard for a working class person to earn $2 million by saving and investing that.

1. Consider the range of what you call a "working class salary"-.($30k-$150k, let's say) Or $50k-$200k. Or whatever
2. Imagine how the person at the bottom end of your range lives.
3. Imagine someone earning more than that just decides to live like someone lower and save the rest in index funds
4. Do compound interest calculations

Pretty easy. Lots of people are chimps and spend basically all the money they earn and immediately inflate their lifestyles to suck up all extra cash.

>>60575363
how many fertile eggs between them? any kids?

>>60576502
>>60576558
Reading your comments feels so surreal. The type of cuckoldry the american-born is subjected to.
I've literally never lived in a country with more than 10% income tax. In fact, I left one to move to Dubai (granted, I did it so the mafia wouldn't come after me, 10% while unfair doesn't prevent you from making it).
Trump fucked you fags over. Now Carribean passports are worthless. A few years back you could buy one, revoke the American one and move to a tax haven, now you have to be grateful for $100k/yr tax free (also didn't Trump promise to stop taxing americans abroad?).
And still, if I was an amerifat, I'd buy some cheap Vanuatu passport or sth asap, buy a house in Andorra or an apartment in Dubai for a golden visa and revoke on the very day I get my Vanuatu passport. There's absolutely no way to make it if you're robbed off 40% of your income every year.

I actually find it hilarious that you mock europeans for their not-actually-free healthcare. Like, yes. paying out of pocket would probably mean less corruption, etc, but YOU GUYS ARE PAYING THE EXACT SAME TAXES AND YOU'RE GETTING JACK SHIT OUT OF IT. You can start a company in Denmark and structure in a way to pay no more than 20% of your income as tax there, while getting education and healthcare paid for. Amerifats pay more, everything goes to Israel and then you laugh at europeans for being socialist, lmao

In most EU countries, if you can get your income through a company you'll pay substantially less in tax than an amerifat.
Most western europeans pay about 30% in income tax and 25% of the remainder in VAT and import fees.
All you need to do is get the money through a company to remove VAT from the equation, and the tax can easily drop to no more than 10% of the turnover. Dropping you below 20% - in a place where the poor are not incentivised to riot, healthcare and education is free, etc. Obviously it's easy for me as a codemonkey, but works in plenty of industries. Amerifats are fucked regardless of how they structure, they can't lower taxes legally, at best they can commit crimes and deal with cash.

Inheriting an American passport is kind of like inheriting debt from a gambling addict, the only difference being that if you inherit millions in debt you can still pay it off. America is only attractive to the absolute poorest members of society.

>>60576514
>>60576666

I completely agree with you guys but how do I actually make the jump and gain that level of freedom you guys are talking about? I am already a dual US-EU citizen but I'm stuck getting raped in a high-tax city here. I can't find any remote jobs because the software job market is fucked and starting a business seems like I would make even less than I am now as tax serf.

>>60575311 (OP)
"Compound interest" doesn't exist for a sum, at any moment in time the interest on your sum is the same as if it was any other sum. "Compound interest" is a product of exponential growth, which mostly comes from time, not money

>>60575382
>Once you get 2 mil it grows by an average of 200k a year all on its own
How?

>>60575363
would still pick any of these post wall white roasties rather than young brown ones
also the last one looks better adult

>>60575382
>Once you get 2 mil it grows by an average of 200k a year all on its own
2 mil is inflated by 200k each year, youre not making money, its illusion

>>60575363
My heart goes out to men of the British isles

>>60575311 (OP)
she does have old face but i think she is kinda cute

>>60575432
If you don’t actually need to live on the money yet just keep it 100% in the S&P 500 and ride the ups and downs.

Once you retire and need to make withdrawals you do a stock/bond split of something like 70/30 or 80/20 to reduce volatility and sequence of return risk. If the market crashes you simply live on the 20-30% cash until the stocks recover which they almost always do within a couple years.

>>60578249
true inflation 10%?

>>60575311 (OP)
the point i really started to notice big returns was between 200 and 300k. you earn 10% and more than half your growth comes from compounding. i still max my 401k but mostly for the tax benefit. doing nothing else but waiting ill have an inflation adjusted 10 million dollars at 65. 100% true that the hard part is the starting capital.

>>60577592
Well, for me it was niche sites in 2011-2014, bitcoin mining in 2012-2014, and crypto throughout... back in the day you could make six or even seven figures just reposting things on twitter and translating whitepapers on bitcointalk.org.

If I was to start fresh, I'd probably mass vibe code shit and see what sticks.

>>60575311 (OP)
You get to the first $100k, after that the dividends start to snowball. You keep adding and you'll be at $2 million in 15-20 years as long as you keep reinvesting the dividends

>>60575432
SCHD, JEPI, VOO, APPLE, HOME DEPOT, KRAFT

>>60576514
>Writes entire book of cope

God I love being Americans and reading retards justify why their inferior existence is somehow better than mine

>>60575373
>what job is paying 200k
Several.
But I agree with you

>>60575363
The bottom right one looked imho clearly the worse among the young ones, but arguably the best (of those, granted, cherry picked photos) among their old versions.

>>60575363
jesus fucking christ the air in great britain must be toxic or something

>>60575311 (OP)
>% increase is higher with bigger number
why do I have to share the board with you people, I curse this gay ass world

>>60576514
How do I do this if I already have American citizenship and have lived in a state with income tax my whole life?

Interesting thread. Kinda said I'm a poorfag from Brazil. Any tips to third world fags?

>>60575429
>just invest and start enjoying you're life at 60 instead of your youth

>>60575432
>only 90k a year.
that's more than enough to live off without doing any other work

>>60575437
>>60575888
curious. i kinda see what you are getting at. what are you looking for to mark your entry point to the trade?

>>60576608
Bottom right has 4
https://www.usmagazine.com/celebrity-moms/news/harry-potters-jessie-cave-gives-birth-to-4th-baby-with-alfie-brown/

>>60581150
Isn't he the one with OF?

>>60575363
the majority of them have the standard aging you would expect and i see around me with average people too
but what is happening to evanna lynch and clémence poésy, especially the latter
its like her face is turned into a parody of a human
is it bogged surgery or steroids and other supplements abuse
cause i certainly dont see that kind of growth in skeletal structure in normal people aging

>>60581680
They're vegans. Not kidding.

>>60575311 (OP)
Compound interest doesn't "explode" at any specific number. This is a matter of perception. You just need to stick with your investing until the interest/gains are 3~4 times what you put into it each year. That's when your investment seems to take on a life of its own, as it outpaces what you put into it so much that you don't have to put more in..

>>60575311 (OP)
It you think there is a point where compound interest 'goes crazy' then I don't think you understand how compound interest works.

>>60575311 (OP)
Damn this board really sucks

>>60583926
>>60581974
I read about it on /antiwork

>>60580721
Yes, several, but in Canada, 265k is top 1% income.

>>60581974
it does really because your living expenses are a fixed number if you dont go full degen
so there comes a tipping point where your compounding pays for your living expenses with enough left over to keep compounding its here where the magic happens
most retards however get caught in the trap of endless lifestyle inflation

Those statements always drive me nuts, its an exponential curve there is no "spike" where you suddenly start making more. It's gradual

>>60583963
>>60583926
There's a point where interest relative to expenses of someone living a "normal" lifestyle goes crazy. Yes, the math doesn't change and OP's wording is shitty.

But around $2 million in today's money returns in an index fund start to go from "heh that's neat I made that doing nothing" to "dang I can live on that" to eventually (around $10MM) "dang why am I bothering working for just a salary short of something crazy or a big chunk of equity?

>>60584359
That's my point. The number is different for everyone. You cannot make a blanket statement like "compounding only starts working at 2 million."
This is a perception issue. People do not think logarithmically. If you look at a growth chart and take two sets of beginning and end points of equal time length, then the ratio between the beginning and end point of both sets would be the same.

>>60583963
Perhaps don't take advice from people who didn't make it.

>>60584388
No, I just go there to copefarm brokies. You should go there and read what they say.

>>60575311 (OP)
If you don't have that kind of money on hand from inheritances then you probably won't catch up, unless you get lucky, business.

>>60575363
Still want to fuck Luna...

>>60585531
Fuck is okay, just a cum dumpster.
>>60585524
Bro, in my country, millionaires control 73% all wealth my country. By the time someone has 2m, 99% of working class aint even going to see 1m in a lifetime. Most people, almost all, wont even see 1m in a lifetime.

>>60585559
Pretty much anyone with their shit together will have a million bucks, your shit hold country excluded.

Now, most people don't have their shit together and spend whatever money they have. If they earn $30k they spend $30k, if they earn $60k, spend $60knand if they earn $120k they still manage to spend that. But that's a different story.

>>60585700
Canada, bro. Millionaires control 73% of the country’s wealth.

> Pretty much anyone with their shit together will have a million bucks
So about 10% of Americans when you exclude their homes. Thats a not lot. Most people dont have their together. Op topic is about 2M and almost all people will never see that number.
>t. retired at 30

>>60585700
American median household income is only $110k.