How much do you need to stop waging?

>>60729671 (OP)
Its about a high standard of living and not “stop waging” and living like a rat.

>>60729671 (OP)
2 million at least.
> retired 30

Unless u earn 200k+ or get your own gig u aren't retiring as we move forward. Retrards in Pic related are correct, no future but work for le goyium.

>>60729671 (OP)
probably 2M

>>60729678
the good news for him is if he can get enough youtube views, that ones got 300k, he can retire

i wont be watching his stuff though.

>>60729678
But what is the standard of living. Middle class areas?

>>60729678
Most people not earning 200k and not even 120k lmfao. And even people earning those are not retiring. That is why homeownership is a real wealth divider now. (in a nice area)

>>60729679
A home in a normal area and even ghettos in my city cost 2M now.

bump

>>60729671 (OP)
300k earning 8% (SPY average annual return) gives 24k/yr which is just barely enough to stop waging assuming you do nothing but go online every day

>>60729708
i'll let you know when i want your thoughts on anything bro!

right now i'm good.

There is no escape

When the boomers die it will all trickle down
>cope

>>60729764
And the fallacy is that you're going to put everything into SPY. A few bad years would bring you straight out of retirement or erode your personal worth.

>>60729764
24k a year is poverty lol

>>60729793
True, better make it 600k to be safe
>>60729798
I didn't realize he needed a boat, he just said he didn't want to wage

>>60729798
Do you need a lot of money if you're a NEET? Just pirate everything.

>>60729671 (OP)
>booo hoo waaah im x years old its over and please give me views
>500k views

>>60729809
its an outlier for his vids this one just happened to get picked up by the algorithm probably because its so blackpilling

>>60729809
Most don't even ad block, so we're talking about 1 million plus minutes of ads served by Google to viewers of that piece of shit video.
I'm sure that jeets are making up the majority of views on this type of shit now.

>>60729802
>>60729804
Do you guys read the thread before posting? You need a high SOL.

>>60729823
I just disagree with the sentiment that life is about consooming product. I'm content to live a quiet life if it means no wage cage.

>>60729823
With no mortgage etc, $24k (and inflation adjusted for future years) is fine for the right kind of person.
But I say you need $600k to do this safely.

>>60729828
It is not “consuming.” It is having a high standard of living.
>>60729835
24k. lmfao. Yeah man. Poverty is for the right person living in the ghetto.

>>60729847
ok bro, have a nice day

>>60729847
No one living in the ghetto is going to save 300k and retire because they haven't escaped living hell yet. Plenty of people who manage to get a house in suburbia or wherever will consider it tho.

>>60729852
24k a year. Wtf. Suburbia.

>>60729697
This means our economic situation is entirely demograohical in nature then.
So the solution is easy and already paid for. The army.
Which is why you shouldn't vote for democrats or republicans. Neither of them will give the order to cleanse the nation.

>>60729856
People inherit houses, get massive down payments etc. When you get mortgage free you seriously consider what the minimum income you need is for freedom from wage slaving.

>>60729858
I dont get what you’re saying. The wealth divide is good.
>>60729869
Most people dont. Unless rich already.

>>60729671 (OP)
you either bank a few million at age 29 or you get enough passive income to fuck off. either way you'll be slaving for a long time until you hit jackpot somewhere

>>60729884
You really have to born into the right family. Period. Economic times have never been as bad than now.

>>60729869
24k lifestyle is crazy. Thats like living in a lower class area.

>>60729890
I guess. all you need from your parents is a place to stay with no obligation to pay them rent. everything else comes from you

>>60729908
>everything else comes from you
nta but, your dna comes from your parents. only with good dna can one overcome circumstances, like become a high-paid sportsperson or actor or something. everything in the world is competitive, including high paid jobs. only a few can succeed while the majority fail. if everyone on earth is trying their best then it comes down to dna, which you get from your parents.

>>60729938
spare me with that shit. literally anyone can become wealthy in any circumstances.

>>60729938
The world isn’t competitive at all. The American median household income is 70k.

>>60729956
>literally anyone can become wealthy in any circumstances
then literally everyone in the world would be wealthy right now. but they're not. that's because everything is competitive. in a company of 100,000 people only 10 or so can be the executives. in a marathon of 100 people only 3 can win a medal. if everyone was a sportsperson or executive who would collect the garbage and pick the fruit?

>>60729959
>The world isn’t competitive at all
yes it is. didn't you read charles darwin?
>The American median household income is 70k
1) the USA is not the whole world, it's like 4% of the world population
2) even then, median is just the mid-point, it doesn't mean everyone is on 70k. tens of millions of people are still competing for those 70k jobs. plus as ai advances there will be fewer jobs but still 8 billion people in the world.
3) the median income of black people is 35k. proving dna determines success

>>60730009
>if everyone
dude. you're literally on a board that any of these fags can make it from a fucking coin or a stock going parabolic. fuck off with this 3rd grade philosophy

>>60729764
Is that what you do? Invest everything into SPY? I have hardly any experience with stock market, but are you guaranteed to get 8% each year?

>>60730039
>are you guaranteed to get 8% each year
how hard is it to look at the chart bro

>>60730039
if you're going with indexes like SPY then try a growth etf. everyone and their mom is using SPY as their benchmark to beat every year.

>>60730033
>any of these fags can make it
but they don't. you'd be delusional if you think everyone who goes on this board becomes rich. what is more, you're delusional if you think this place has all 8 billion of the world's population hanging out here.
>a stock going parabolic
just as many can plummet. plus you need capital to buy stock to begin with, you're not gonna get rich because your $1000 turned into $3000. what is more, if everyone pumped their money into the same "parabolic" stock then it would be overvalued and the bubble would pop, so the latecomers would lose out. thirdly, those with 100 times as much wealth to invest will make 100 times more returns and they will use that to buy up all the other remaining assets, inflating asset prices and pricing out everyone else. that's partially why property prices are so high. lastly, companies which you want to invest in for those high-gains make those big profits by paying workers less or even firing them, so getting that initial capital becomes even harder.

>>60729671 (OP)
>I'm in my 20s and still work
Isn't that supposed to be like... normal? like, do zoomers expect to become a trillionaire or some shit by 30 or what

>>60730009
It isnt competitive. Want to know why? Because not every job is meant for everyone.

>>60730009
>high paying jobs
Females and even most men cannot handle those jobs. Get what I am saying?

>>60730079
Zoomers think they'll all be rich influencers and youtubers

>>60730079
no, he saying he is in his 30's and still work in a DEAD END job as an amazon worker and from the look of it an amazon driver. I don't think working in a gig job till retirement is considered "normal"

>>60730079
if you arent retarded you finish college at 22-23 and have some sort of career progression by age 29, like senior analyst or entry level manager. even if you didnt go to college you should be aiming to move toward some sort of a management role by then. if youre a retail wagie you should be gunning for department manager or assistant store manager jobs. if youre an amazon warehouse wagie you should be gunning for whatever the hell they call their managers. etc.

yes, being a manager fucking blows but you dont want to be a 57 year old entry level worker making the same money you are now (adjusted for inflation.) the only way to make more money with wageslavery is to move to management.

>>60730039
>Is that what you do? Invest everything into SPY? I have hardly any experience with stock market, but are you guaranteed to get 8% each year?
Nowadays the meme in the financial independent community is "all in one" ETFs that are more diversified with international and emerging markets.
As a leaf that's XEQT (which adds home bias for more stability), not sure what the equivalent is in america.

There's never any guarantee but SPY historically return 7-8% annually over a long enough time frame. There's been periods of time back in the 2000s where it went sideways for 10 years and international markets outperformed, so if you retired at that point and were relying only on SPY you would have lost a lot of money selling it every year to pay for your expenses.

There's of course other strategies like holding cash or bonds but holding them instead of a stock that grows can actually hurt a lot of growth for your portfolio, especially if you're retiring early. The only real benefit for holding them is the first 2-5 years after you retire to reduce your sequence of risk returns.

All of this analysis is based on historical performance though, anything can happen in the future.

Those of us who are in our mid 20s to 30s really are screwed huh

We’re like 2 decades away from technological revolution that’ll render most work obsolete, universal income etc. But born too late to reap the second half 1900 prosperity.

Unless you’re lucky as hell to make it on YouTube/Streaming but that ship has practically sailed for 99.999% of people that try that route

>>60730083
yeah and it's because of dna, which was my original point. are you retarded? so you've just proven my point, which was "only with good dna can one overcome circumstances". most people can throw a ball into a hoop or be a manager or operate a machine or code etc etc. but they hire the people who can do it the fastest/best etc. anyone can act, but they hire attractive people not uggos. NBA hires those who score the most points. even college is competitive entry.

>>60730114
So it isnt really competitive then. Its just people going into their roles.

>>60730079
Social media broke peoples minds and expectations. They all think they deserve to live in 3000 square foot homes and travel all the time by doing the least amount of work possible.

>>60729681
/thread

I refuse to watch these whiney faggots because it's really obvious they judt want to get rich while playing a victim online.

>>60730129
if all those roles were equally paid then you would be correct. but that is not the case. some roles are much much higher and some roles are much lower paying. then add the fact that the lowest roles no longer pay a living wage, so people compete for higher paying roles just so they won't become homeless. also, every year there are fewer and fewer roles because many jobs gradually get replaced by ai and automation. those who can't work the fastest/best miss out on a role and end up in poverty due to raw numbers.
remember that the person i replied to claims that "literally anyone can become wealthy in any circumstances". it's clearly not the case.

>>60730107
It sounds like good traditional advice, you don't invest more risked-trendy stuff like crypto not even just crypto, but stuff besides stocks like gold and silver that sort of thing?

>>60730184
There is no “competition” because it doesnt matter how hard someone “competes,” when that job is not meant for them.

>>60730217
>because it doesnt matter how hard someone “competes,”
so you admit that they compete. thus it is a competition. what on earth do you think a competition is? it's when people compete. when people want a prize but there are more people than prizes then they compete, making it a competition.
look at how many people play college basketball in the hope they will be picked for the NBA. they are competing. look how many more people apply for the top colleges compared to the number of places. they are competing for limited places. look how many job applicants there are for jobs. they are competing for limited jobs. therefore, these roles are competitive, they are a competition.

>>60730257
They are “competing” because thats what they think they are doing but only talent gets picked for pro sports. The winner was decided long ago.

>>60730187
>It sounds like good traditional advice
Not really traditional advice, and it's more targeted for retirement.
The traditional advice is 80% stocks and 20% bonds, slowly converting stocks to bonds as you get older, and retiring with something like 50/50 stocks and bonds. Bonds are shit these days though, so the traditional advice sucks.
>you don't invest more risked-trendy stuff like crypto not even just crypto, but stuff besides stocks like gold and silver that sort of thing?
Me personally?
I do a few months of cash in a high yield savings account, 40% VFV (basically S&P500), 50% crypto (45% BTC, 45% ETH, 10% alts), and 10% gambling with individual stock picks. I bought META when it was $90, COIN when it was $40, just trying to pick individual stocks that I think are undervalued or I expect to go up a lot more. I have high expectations for AMD, I believe in george hotz's vision of commoditizing the petaflop and that when this happens it will destroy nvidia's moat, sending AMD to nvidia levels.

Broadly my portfolio is 100% high risk, high growth, low fees, I don't need to withdraw the money so if it falls 90% it doesn't affect my day-to-day at all. This is the ideal portfolio for when you're starting from $0 IMO, since it's accumulating growth assets to grow your portfolio, as long as you don't need to touch it and just keep adding it to when it drops and keep letting it grow.

Once I hit my make it number (1.3m CAD), I intend to start scaling out of everything and moving it to XEQT though, plus keeping 1 BTC forever.
This kind of growth portfolio is great for growing but not so great to hold when you're retired since you're forced to sell periodically to cover your expenses, and if it's in a multi-year bear it hurts a lot to be selling after its fallen 50%. Holding something more diversified like XEQT will probably mean lower growth but the pay off is less volatility and not as deep dumps.
1.3m at 4% will comfortably pay my expenses at 50k/year.

>>60730282
look, it sounds like this is an argument over semantics. ok if you don't want to use the word competition then fine, i only meant it in the simple meaning of there being fewer resources than the number of individuals desiring them. i won't use the word competition anymore. but it seems you agree with my original argument:
>The winner was decided long ago
yes, at the moment of conception when they inherited their dna from their parents. which was my original argument, which you seem to agree with, right? i mean the original person i replied to seems to think everyone can be rich but that's factually incorrect. surely you agree, right?

>>60730284
I appreciate you going taking time typing this advice out.

>>60729938
>>60729908
luck matters a lot too
https://www.technologyreview.com/2018/03/01/144958/if-youre-so-smart-why-arent-you-rich-turns-out-its-just-chance/

>>60729671 (OP)
Join the army then get a government job after.

>>60730217
>there is no competition

>>60729764
Idiot
If you want to neet off of stonks you use divvies.

>>60730501
this is a dangerous article

>>60729671 (OP)
I'm a little over 2 months into retirement in my mid 30s. I should've started this a few years earlier but I was under the retarded impression that I need over $5 million to stop waging. Honestly, I could've done this with $1 million and lived lowkey while my assets go up in value.

>>60729902
my expenses are 24-30k a year in a good Canadian city.

I have 0 subscriptions, and don't eat at restaurants

>>60730570
huh?

>>60730692
Crazy bro. Thats really low. Like what is your standard of living? Area?

>>60730314
Phenotype, pretty much.
>>60730518
Well, yeah. The wealth gap is so wide, its over.

>>60730692
30K doesnt even cover living basic living expenses.

>>60730978
It's absolutely doable even in Toronto and Vancouver. Stop consooming.

>paid off car
>no debt
>650 usd rent
>no kids
>work two days a week in comfy non-thinking job
>250k saved and stashed in boomerfunds

im so comfy its not even funny

For the rest of your life you will need $10 million easily and that's pulling from it very conservatively.

>>60730079
I graduated in 2020 and I seriously expected to be making $100k with just a history degree.
t. $90k at 27

I stopped wageing and I have 48k in debt. It really depends on how invested your are in the rat race. I don't give a single fuck about any of the material shit. I can live in a barrel like my idol Diogenes.

>>60730284
Do you employ any risk mitigation techniques?

I’m basically the same as you but without crypto. All gas no brakes, 70-80% QQQ and then the rest in undervalued tech. Biggest win recently was buying Robinhood at $8.25.

For the QQQ I employ a 20% trailing stop loss, my logic being that if it triggers, I sell everyone and just go even harder into triple leveraged ETFs for the recovery gains.

>>60729890
Bullshit. My parents never made more than $40k/year their entire lives, and their contributions to my well being ended when they kicked me out of the house at 18 and told me to fend for myself. My current net worth is just over $3M, only $400k of it in my house. You're just lazy and looking for excuses for your failures, especially excuses that aren't solvable allowing you to lean on them forever. Fucking pathetic.

>>60731837
maaaaaaaaaate
you need to own property to sleep easy

>>60732235
>Do you employ any risk mitigation techniques?
no
I've thought about buying options for ibit just to protect against some downside risk, the idea being if it dumps I can just sell the option and be ahead, and if it goes up or sideways I can just cancel the option and I'm only out the premium.
When I looked into it all the options were low liquidity and I had a hard time understanding how it works, and from what I could tell the premium for anything worthwhile was very expensive, so I just didn't bother.

>>60729671 (OP)
3 mil, bare minimum.

>>60732377
To break it down, it’s like 1.5 mil for a house + cars and any other possessions of value, and 1.5 mil for retirement. 4% of 1.5 mil is 60k which is enough.

>>60729671 (OP)
In gold adjusted wage terms the person who used to work this job in 1970-1980 made $150+ per hour in today's terms. Boomer liberals ruined the world.

>>60729671 (OP)
Idk how this works in the modern era, but in the old days if people couldnt work for a decent life theyd become self employed. Often the job they'd hire themselves to do was plundering their former employer.

>>60732370
You could say your lack of options is your risk mitigation har har.

I very rarely mess with them beyond LEAPs. I consider my trailing stop loss + leveraged ETFs to be my hedge against a downturn.

Doing the math on protective puts seems to put you on break even considering 90% of them are just going to expire worthless. Never really liked them.

>>60729675
wrong
I'd rather live poor than wage

>>60732390
you need to spend 1.5M on a car and house because...you just do ok!

>>60732583
>I consider my trailing stop loss + leveraged ETFs to be my hedge against a downturn.
Aren't you scared of the stop loss being triggered, doing the sell then losing out on a greater pump and the market running away from you?

>>60732566
yes infamous liberal richard nixon. kek.

>>60729671 (OP)
I would quit my corporate job if I could get a paid of house, ~1M in index funds and 5 years of expenses in cash and gold. I would think about not working altogether at around 10M diversified net worth, but I would still pursue passion projects/work like activities which don't have to generate any money.
>>60729675
the two doesnt have to be exclusive. having the ability to stop working to pay the bills and just work on high risk high reward projects (which could create generational wealth) while still having all of your basic needs met is priceless

>>60730009
>muh ai
Stopped reading. You’re an idiot. Check out how Microsoft recently fired thousands of workers and applied for h1bs at the same time.

>>60732608
No because as I said, the stop loss is basically just there to re-route the money from broad market ETFs to triple leveraged ETFs. It happens the same day.

>>60732210
based retard with no guidance, I also have a history degree thinking it would help me (((somehow))). it made literally no difference

>>60733421
>No guidance
What about when your parents actively guided you and your siblings to take any worthless degree no matter what?

>>60729823
>i must HECKING CONSUME
Normalfags aren’t welcome here. Go away.

>>60729671 (OP)
My plan this year. Hit $100K hopefully if the cycle plays out. But If I can hit 200-300K Man thats enough fuel. If your smart those small amounts are enough to escape the rat race. But if your retarded and do not have a plan youll end up poor again. Need to always push towards the big goal, no matter how unrealistic it may seem.

single person = 2M
family of 4 = 4M

>>60729798
I lived on less than $10k/year for years

>>60735297
I know people who do this in Jew York even, but they inherited property.

>>60729671 (OP)
This guy is a moron, Amazon driver is not dead end at all, pays better than a lot of jobs you would get out of college. Zoomers are really twisted and shitheaded, you can't call a well paying job that truthfully helps so many people have a happy life a bad job. Try to look into how Japanese see work, even if they work at McDonalds they find the pride in that.

If this guy wants to get a college degree in his spare time I don't begrudge him or whatever I don't watch the video. At this point in his life he is doing his best.

Actually I noticed he is Asian, god damn he probably has his dicksucking fob parents up his ass to be a tech guru or doctor and he feels depressed about himself. China what are they gonna do ALL be programmers or doctors? I am sure in China they do delivery driving too.

Whatever its just a good job and that guy needs to get pride in himself.

>>60732255
You never get to own it. I "own' a house and for that pleasure I pay $100/mo to a HOA I didn't want, and that was one of the cheapest in the area unless I was willing to commute 30 more minutes each way. I pay $850/mo in property tax. I pay about $225/mo for required utilities (i.e., water, sewer, and electricity - without them you can't occupy it as a residence in this county.) About $125/mo of that is just fees. So even when the mortgage is paid off some day, I'm still paying >$1k/mo in rent to the government and utility monopolies.

Still worth it for me for now for other reasons, but I think there's an important caveat that home ownership is sometimes good not always good.

>>60729671 (OP)
$1 mil to put in a HYSA and live off interest
$400k for a house

so about 1.4 million

>>60729678
You can make a 2 million dollar nest egg by time you retire with a job under 100k/y. It isn't even that hard.

>>60735459
>Feel pride in himself for working
You should feel pride in yourself when you're well off enough to not have to work anymore. There's nothing proud about allowing other people control over your financial security or your future.

>>60735560
Yup buddy im sure in 30 years your 2 million will be a game changer

>>60735589
That's more than enough.

>>60729671 (OP)
What the fuck does "dead end job" even mean? Every job is dead end, you work for money.

>>60729671 (OP)
What makes a job "dead end"? He's earning 24 USD/hour + benefits, that's $50k/year. Work an overtime shift each week and it becomes $75k assuming OT is paid at double time. I don't live in the USA but that converts to ~$115k AUD which is well above average here. Is it dead end because it isn't a prestigious corporate job with a fast track into management?

I used to drive trains and made $150k AUD/year. Is that dead end because I can't become a manager with that skill set? Now I'm an apprentice rail signalling electrician, is that dead end as well because it's a blue collar job? The whole video just stinks of doomer bait to be honest. He has what seems to be a relatively cushy, low stress job with a respectable income in a part of the USA that isn't exceedingly expensive. Brain fried terminally online zoomers who spend half their waking lives on social media will call him poor because he isn't some faggot influencer making $500k/year even though he drives a decent car and lives in a freestanding house.

Working 4 days a week he could even go to college part time and get a degree to land himself a better job. Whatever he's doing now isn't the futile death sentence he's making it out to be.

>>60735560
2 million today retard, not in 30 years.

>>60735560
The idea is not to wage for 30 years.
>>60735573
This is the only correct way to feel.

>>60735879
It means you can't be promoted and there's no way to advance your career. What he's doing at 30, he'll be doing at 60 for roughly the same pay, adjusted for inflation.

>>60736290
>I don't live in the USA
yeah that much is obvious. overtime is 1.5x not 2x. they dont want you working overtime because they have to pay more money for it, so they dont let you work overtime.

$50k/year is about $35k after taxes and insurance but with $0 retirement savings. amazon delivery jobs dont really exist in rural areas so the guyi n the video is undoubtedly living in the suburbs or an urban area paying $1800 a month for a 1 br apartment (or, god forbid, splitting a $2400/month 2 bedroom with a roommate.) his $35k/year after taxes doesn't go very far.

I think 500k is the bare minimum to retire. An 8-10% return on an investment is 40-50k a year. That's livable, especially considering you can life in remote low populous areas with no jobs around and cheap living.

>>60731837

This guy gets it.

depends on your costs. 3% is a safe long term withdrawal rate. if you want to take out 60k a year you need 2 million invested, or some combo of investments and cashflow from rentals.

>>60732210
90k doing what with a history degree

>>60729671 (OP)
>How much do you need to stop waging?
At least $4000/mo USD