Discuss

we have to discuss it again? forever? why?

>>60737364 (OP)
2 by far

>>60737364 (OP)
It's called 6 figure hell for a reason

(3) for me. been stuck in this god damn 7 digit inferno for almost a decade

>>60737364 (OP)
>1
Easy. Just get a non shit job.
>2
Hardest. You have to balance your expenses with your saving and investing and your nest egg isn't large enough yet to compound very fast, so you're stuck in six figure hell for a long time, maybe forever if you fuck up.
>3
Easier than 2 but still hard. Unless you own a business or are at a very high level with big compensation, your income doesn't make much of a difference in your net worth anymore, it's all about compounding gains. As long as you're not spending absurd amounts of money and understand investing and risk management, you can probably get to 8 figs faster than you could leave 6 figure hell. Unless the markets gigadump I guess.

>>60737364 (OP)
Obviously #2

#1 you have a “nothing to lose” mindset. You don’t have much, and you can always earn it easily with a job.

# you have already developed or trained an investment mentality. You likely have enough wealth to retire comfortably and continue generating income, which gives you the freedom to think investments without pressure.

#2 you don’t have enough to retire, but you have enough that every investment decision feels important so you get more anxious.

>>60737551
Obviously #2

#1 you have a “nothing to lose” mindset. You don’t have much, and you can always earn it easily with a job.

#3 you have already developed or trained an investment mentality. You likely have enough wealth to retire comfortably and continue generating income, which gives you the freedom to think investments without pressure.

#2 you don’t have enough to retire, but you have enough that every investment decision feels important so you get more anxious.

>>60737364 (OP)
1k to 100k and it's not even close. You have to legitimately make lifestyle changes and learn and teach yourself shit about it. Whereas 100k to 1M is a function of time and math. 1M to 10M is difficult but it's very if you keep increasing your income and investments over time.

>>60737587
1k to 100k is literally just getting a job. even the bottom percentiles can do it

Hardest part of #3 is just living long enough after attaining #2.

>>60737364 (OP)
it's harder to go from 1M to 10M simply because salary contributions doesn't matter as much

>>60737603
>1k to 100k is literally just getting a job.

No it's not. 1k to 100k means you have established a pattern of disciplined saving and investing. If you took home equity out of the picture, the median net worth drops significantly. 100k to 1M, literally just takes time and nothing else.

>>60737512
>>60737557
>>60737603
Best thread on /biz/ today.

>>60737644
>1k to 100k means you have established a pattern of disciplined saving and investing.

all the options require that

>>60737364 (OP)
1.
Once the juices are rolling 2 is just kicking back
3. Requires decent enough earning power or especially lucky/talented investing

>>60737364 (OP)
1k to 100k
Anyone who says otherwise didn't actually start with 1k, whether that be via family or other connections.
What percent of your net worth is spent on electricity, water, trash, gasoline, insurance, etc at $1k saved? At 10k? At 100k? At $1million?
The only way you fail beyond 100k is by being a weak man or a woman. With unlimited access to become a capitalist you legitimately have to be retarded to fail once you hit 400k.

>>60737686
i started with -$27k (college loans). I got a job and have boomer investments. am closing in on $1M

Only retards (aka poorfags) are picking number 2. It's quite obvious that the higher the value, the more difficult it's to obtain it.
If there was an option with 10M to 100M, that would be the most difficult. 100M to 1B would be even more difficult, and so on.

>>60737557
not everyone can get a job

>>60737603
>comfortably in top 90% for my age group
>of which im the youngest
What are these chucklenuts doing...?

>>60737679
>all the options require that

Yes but you're assuming that the person starting with 1k has financial literacy and a good job. I'm assuming that they're the average American who makes 40k/year and still has loads of consumer debt.
>Just get a good job and save money
It's really not that easy for most people, and I think you're living in a bubble away from the actual average person if you think it is.

If you're starting with 100K or 1M, then you most likely already know how to make and save/invest money. A broke motherfucker probably doesn't.

>>60737728
>financial literacy and a good job

ok fine. but if you dont have that then you arent doing #1, #2, or #3

>>60737736
>but if you dont have that then you arent doing #1, #2, or #3

Yes that's very true and I will concede that. We just different have starting assumptions about this thought experiment. I just recently entered six-figure hell at 29, and I'm not worried about making a million dollars.

In all honesty going from 1M to 10M is probably harder, but I would still expect that from the average millionaire before I would expect the average American to save 100k.

>>60737364 (OP)
>100K to 1M

Obviously it is harder to make a larger amount than a smaller one, but having reached a certain level implies you have resources available that change what you need to do.

>1
That's just a matter of getting a good job and saving for a bit. Easier said than done of course, but accessible to, and done by, large chunks of the population (unless you're a europoor).

>2
This will never be achieved by a job in any reasonable time.
You need to start a business with a lot of risk and work and no one to delegate too yet. You will likely still need to work a job, and work more than 40h on your business.

>3
This implies you have already obtained a vehicle to go from 100K to 1M. At this point you need to scale and delegate.
You can borrow millions against your business, you can delegate administrative tasks and focus on expansion. You never have to worry about having enough money for food and rent in future and do not have to work - thus you can go all in on your projects without having to give 40 hours a week to others like the 100K guy does if he wants to remain the 100K guy.

>TLDR; Technically 1M to 10M involves infinitely more skill, but it is much easier on the person doing it than 100K-1M.

>>60737364 (OP)
2 is almost impossible

>>60737728
If step 1 is that daunting for you, then you’re ngmi.

>>60737906
>This will never be achieved by a job in any reasonable time.
>You need to start a business with a lot of risk and work and no one to delegate too yet. You will likely still need to work a job, and work more than 40h on your business.


How can you even say this lol? Starting with 100k, you only need to invest 2k/mo for 20 years at annual 5% return make $1M. That's a very reasonable amount of time.

>>60737945
I'm on step 2 myself, but step 1 IS that daunting for most people. The average person refuses to self-educate enough to learn finances. You don't even have to talk to people IRL to figure this out. Literally just go on any other board on 4chan, and make a thread about finances or the stock market. I guarantee most of them won't have 100k saved up, and will have the dumbest money takes you can find.

$100k to $1M is pretty hard because every step of the way I have to resist the temptation to just prematurely retire

>>60737364 (OP)
Cycling divvies from SPYI + QQQI -> ULTY -> MSTY -> ULTY -> MSTY -> SPYI + QQQI
You can get 20k to 100k in under 5 years with relatively low risk. If you're base income is low you won't have to worry too much about taxes too.
Doing the same with 100k is a lot riskier but if you time it decently the NAV erosion will be offset

>>60737686
This, or try starting with debt

>>60738037
Step one will literally happen automatically if you get a job that's isn't minimum wage

>>60737364 (OP)
easiest: 1m to 10m

easy: 1k to 100k

nightmare mode: 100k to 1m

6 figure hell is real. The issue is that you're starting to gain large sums of money but you also feel like you can't spend it. You are also encouraged to spread those gains out so you don't get destroyed if a single stock collapses. If you plow it all into SPY then you're basically restricted to just market level gains which is 10% on average.
So your job is mattering less for the gains, but so are index funds. You're going to need to make sly, well informed moves using individual stocks, options, or leverage.
At the same time, on the grand scale of it all, 100k to 1 million and anywhere in between isn't a significant enough amount to retire on in most places. Its just barely enough to really get a business going and keep it going without taking on large debts, but if your business fails then you're fucked. You want to use it to do things like pay off your house, but then you also would feel every "loss" of not having those sums invested.
Its a really uncertain period overall.
Step 1 is daunting for many people because it requires a level of self control many people aren't capable of. It also requires a solid job. However, if you have these two then the 100k will come eventually.
The 3rd one is difficult, but as a matter of "how" to get there from 1 million. You're going to have to make either rock solid investments or have a business where you delegate work and start to be a facilitator instead of a directly involved contributor. One big advantage of this bracket is you're likely living in relative luxury while you do so.

>>60737364 (OP)
I mean, 1K to 100K is x100
100K to 1M is x10
1M to 10M is x10
Just basic math tells you which one is the hardest.

At least make the 1) be 10K to 100K so it's a proper comparison between all 3

>>60738148

To me $0 to $100k is tutorial island. $100k to $1M is the test. $1M+ is cruising.

>>60738099
The median income is still less than $20/hr

>>60737364 (OP)
depends, what is the time frame

>>60738158
The reason 1k to 100k isn't necessarily as hard as 100k to 1m is that if you work any job making over 100k like many white collar workers can, then if you save well while investing you can make 100k in several years of work.
Meanwhile, 100k to 1m will never happen in a reasonable time through work unless you're doing Google engineer level stuff while living in a van or something. You're relying far more on investments or personal business returns to make that, versus raw saving.
>>60738178
That's why its been my goal for several years to finally break 1 million. I've been close several times and blown it, but I'm quite close now. Just about 220k more to go.

>>60737364 (OP)
1k to 100k is the worst and anybody who tells you otherwise lives in a bubble. Once you save up 100k you've more or less guaranteed your pathway to being a millionaire assuming you're not completely retarded or blow it on a spending spree.

>>60738219
>1k to 100k is the worst and anybody who tells you otherwise lives in a bubble.


The entire thread lives in a bubble. Look at the post above yours. For some reason he just assumes that a six-figure office job is the norm for people.

>>60738227
>if you work any job making over 100k like many white collar workers can
absolute delusion

>>60738227
I'm well aware a six figure office job is not the norm, but I'm taking the points relative to each other, not each in a vacuum.
Each point assumes that, at some point, you had to have the means to reach that amount. Otherwise we'd all be answering 1m to 10m because where the fuck is the average person getting 1m?
I'm also well aware that even marginal savings of 1000 dollars is out of so many people's hands. People are living and relying on credit like never before, and most people do not have even a few months emergency savings available.
At the same time, this is /biz/ and at a certain point we have to assume we're talking to a certain audience with at least some sort of means to attempt to gain wealth. Well maybe that's a step too far considering how many desperate people are here, but still we have to draw the line somewhere for this thought experiment.

>>60738232
Maybe I should have said "household income": https://www.ziprecruiter.com/Salaries/Mid-Level-White-Collar-Salary#Yearly
I agree that 100k is far too high an assumption for any single worker. I should also clarify I was thinking gross income, not net.

>>60738253
>At the same time, this is /biz/ and at a certain point we have to assume we're talking to a certain audience with at least some sort of means to attempt to gain wealth.

That's not the same assumption everyone used. My assumption was that it's the average person in America not the average person on /biz/.

>100x
Or
>10x

>>60738291
If its the average person, then hell yes 1000 to 100k is the hardest. Most people will never attain that. Some people don't even attain the 1000 (liquid cash) at virtually any point.
Hell, according to this:
https://smartasset.com/checking-account/savings-account-average-balance
The median savings is somewhere around 8k. The average brings it up to 65k. So truly, most people never will achieve 100k.

>>60738310
Yeah, that's why I've been sperging out so hard ITT. 100k is inconceivable to the average person because they simply do not earn enough AND have very poor spending habits.

>>60738183
You're retarded. Nobody is saying it'll happen in a year

>>60738355
Neither did I?

>>60738348
>>60738310

But this is a subset. The person who can't handle simple savings of $0 to $100k doesn't have a prayer of iron handsing $100k to $1M. The difficulty gets increasingly harder until you finally reach that cathartic point at like $1.5M where you can actually live off of it.

$0 to $100k simply isn't the hardest because you can straight up save for it off of a median salary over 5 years. You can't save for $1M, you have to watch your stack fight the war over time and restrain yourself from touching it while still contributing.

>>60737686
I am attempting the American Dream

I started 3-5x leverage trading with $240 and now I'm at $3500. but that's only been possible because of omegabullish circumstances

>>60737644
if you are making 6 figures it means you live in an expensive place so someone in spain making 40k lives better than your burger ass

>>60738403
>if you are making 6 figures it means you live in an expensive place

No, it doesn't lol

>>60738377
>its not hard for me because I'm not a normgroid
yes. we udnerstand. it's not easy if you have an overweight roastie who demands netflix and various sorts of goyslop, or you yourself are addicted to consumerism and sportsball, which goes for >50% of humanoids

The average person is a poorfag loser lol

>>60737587
> You have to legitimately make lifestyle changes
That’s called growing up. You literally just have to get a job and not spend more than you earn. And wait.

>>60738433
>But I ate breakfast this morning!

3 you retards

>>60737966
> you only need to invest 2k/mo for 20 years
That’s a lot of money to invest for most people. Housing, vehicles, and children are expensive anon.
>but don’t overspend
No shit, but most people would take a slightly better quality of life for their family than investing an extra $500-1000 month.

>>60738364
I accept your concession then

>>60738054
Can you explain why you want to cycle dividends like that?

>>60737364 (OP)
100k to 1m

>>60738377
I think that's what several of us were saying. For 1000 to 100k, what you're dealing with is a problem of job placement and personal savings. Its one that involves striving for better education or skills, then striving for a well paying job and socking away money. That doesn't mean this is "easy", since for many people in the US its already unattainable. I fully recognize this.
100k to 1m is for people who have already attained that, but are looking to "make it" in /biz/ style. Its a totally different game that involves using money in ways you've never done so before, while trying to keep yourself from buying $ROPE from a fucked up trade that loses it all. In my case, and I suspect many others on /biz/, its also something you have to do entirely alone. Nobody in your life is likely to ever have had that kind of money, nor invested it in that manner. You learn all your lessons the hard way (losing thousands, tens of thousands, or sometimes hundreds of thousands).
The thing is that for 100k to 1m, unless you're a trust fund/nepo baby, it ALSO relies on you having done step 1; meaning you needed the education, the job, the savings, and now you've finally saved AND decided you're willing to drag your balls through the market glass to try to make 1 million.

I guess you can do 100k to 1m the slow way, but that takes like 20-30 years of passive investing. If we go that route then option 2 does get a lot "easier" in terms of skill, and becomes a patience game.

>>60738403
> if you are making 6 figures it means you live in an expensive place
That’s demonstrably false

>>60738442
Not an argument nigger

>>60738473
Avoiding NAV decay

>>60737713
> If there was an option with 10M to 100M, that would be the most difficult. 100M to 1B would be even more difficult, and so on.
Depends on what standard of living you want. If you had 100M, set aside 10M to live off of(quite luxurious) and invest that other 90M even at 8% average returns you’re breaking 1B in 31 years. Same with 9M to 100M it takes 31 years of average market returns.

I’d argue 100K to 1M is easier because if you have 100K your job keeps you afloat and you can invest all 100K initially and then it’s 29 years to break 1M. Note that this is easiest, meaning sit back and wait, not the most efficient or most desirable.

>>60738500
Sure but if you cycle back into it isn’t the NAV decay risk still there? Or are you saying to cycle so you can avoid the risk and skip it if it gets bad?

>>60737364 (OP)
100k to a milly. Its taking me fucking years man. Years and years

>>60737364 (OP)
I just reached 3, so I'll relay my experience.
1 only took a few years after finishing college. It wasn't challenging, took a few years but progress was consistent and easy.
2 took 8 years after hitting 1 and it was hell the whole time. Seeing my portfolio swing up to high 6figs to low 6figs sucked, not once did it ever reach a point where I could have retired despite being in crypto. I kept a portion of my portfolio in index funds the entire time though, so I was able to withstand seeing such huge drops. Worst case it goes to 0 and I have to work 15 more years doing it the passive investing way.
Now that I'm at 1m, It's still not enough to retire on, and it still feels like it can all be rugpulled at any moment.

I do plan to scale out of crypto and risky investments once I've hit 1.5m, and at that point it becomes infinitely easier.
At that point I no longer have to work, my portfolio will be enough to cover all my expenses at a safe withdrawal rate while still leaving a lot to reinvest, so it will grow and will reach 10m in a few decades even if I never contribute another dollar from working a dayjob.
10m becomes an inevitable lazy river where I don't need to concern myself with anything beyond my own existence.

>>60738532

I think there's a lot of people ITT that don't really get it cause they haven't been

>>60738532
Stuck in 6 figure hell too anon. It sucks because it’s objectively good, but so far from actually making it.

>>60738536
>I think there's a lot of people ITT that don't really get it cause they haven't been

No, I think most ITT are probably in six-figure hell as well. The people saying option 1 is the hardest are saying it's harder for the average person and aren't necessarily speaking for themselves.

100k was easy for (You) because you have a good job, are financially literate, and don't compulsively spend every dollar you earn. The average person doesn't meet any of those criteria, and can barely save 10k.

>>60738559

This is /biz/, why is anyone at all talking about the bottom 20% of society? Lol we are here to make money, it's called "six figure hell" for a reason. It's a pile of money staring at you every single day for years, maybe decades, that you can't touch. $50k is just a savings account in comparison and every other retard with a wagie job has that.

>>60738565
>This is /biz/, why is anyone at all talking about the bottom 20% of society?


Because it's not the "bottom 20%". It's more like the majority of people, and those are the ones you interact with everyday.

>>60738559
I think we've kind of came to an impasse here and it requires us to break people into average normies and then people working nicely paying jobs. For the numbers in terms of hardest its:
Normies - 1 is hardest, most normies don't have even a few thousand in savings. They will never have a job that pays more than mid five figures either.
Higher paid white collar workers: 2 is hardest, because 1 happens after several years of saving and passive investment. 2 happens when you start getting ideas that maybe you could try actively investing. We have to recall that most traders do not beat the market, so this is already a sort of fools errand.
I guess for trust fund kids, 3 might be the hardest. They might get a solid lump sum rained upon them, but they have to make sure not to fuck it up, and if they want to grow it they're going to learn the same sort of lessons people caught in six figure hell had to learn. However, nepo babies also have connections that regular white collar workers do not.

>>60737364 (OP)
In that order

>>60738559
>can barely save 10k
This plus paying for housing and if they have children means they're simply never gonna save 100k unless they get a high paying job well into their adult years

>>60737364 (OP)
3.
You’re going to be way more cautious with your bets.
Less chance for downside but also less likely to take risk asymmetry.
Most people are trying to preserve a million rather than gain $9 million

>>60738535
I'm so fucking close to 2, I can taste it. Its excruciating. Its taken almost a decade, about 4 years of that passively investing and now 6 years with mixed active and passive, sometimes mostly options and sometimes all stock.

>>60738579
Women and browns are people so bottom 20% seems about right

>>60738579

The majority of working society reaches $100k in some way shape or form. What the majority of society doesn't do is entire the final boss battle which is six figure hell to FIRE. This is more like being a buddhist monk in that you have to let go and not touch what most would immediately piss away on cars and vacations.

>>60738639
>The majority of working society reaches $100k in some way shape or form.

That's only true if you include home equity

>>60738657

Does it matter? It's chump change regardless. That kind of proves how much of a joke it is as a threshold. Congrats, you learned how to save money, now it's time to learn how to actually compound it.

>>60738639
>The majority of working society reaches $100k
>immediately piss away on cars and vacations

You just contradicted yourself. Those purchases will knock that cohort back down into five figure hell and the cycle will continue like piranhas on a feeding frenzy.

>>60738679

The boss battle isn't less hard than the level just because less people get there, anon

>>60738639
>This is more like being a buddhist monk in that you have to let go and not touch what most would immediately piss away on cars and vacations.
When talking to people who don't have a lot of money. Life changing money for them is paying off their debt and having a car that doesn't break down regularly. But if they had even more than that, they start thinking of it as disposable income. Buy that truck, buy that rifle, put in that new deck, etc.
I don't judge them for it, actually. I fucking wish I allowed myself to spend my money like that. Its precisely because I want to hit 7 figures that people like us get caught in that feeling of being in a sort of hell. Too "little" to spend (in that we would miss it for the compounding gains we COULD have), too much to buy moonshots, but just enough to feel like you could retire for life within 10 years if you do it all right.
I fully recognize that the kind of money I have available right now would make the average person shit their pants. Its the kind of money that could allow a dozen average families to live comfortably for a year. At the same time, I will never allow myself to spend it. I don't pull from it for fun or for buying luxuries. I also had to work my ass off, study market trends, companies, investment strategies. I had to want to blow my brains out when I lost hundreds of thousands (combined) across the years on different bad trades, or when I was so close to making it multiple times, only to fuck it up and STILL make it back after a year more of effort. In that manner, I'll never allow anybody to take those accomplishments from me just because I've got more money than many people ever will. I've suffered way too fucking much stress and pain putting this together to let that happen.

1k to 100k is easy - you can literally achieve this by working hard for a year
100k to 1m - this is the absolute hardest, you have capital but not enough to make big moves. risking anything too big and you are back to zero
1m to 10m - not easy but not hard either, you have enough money to splash big on less riskier things and this is just a matter of time

>>60738579
>>60738565
lol not bottom 20%, I am not interacting with the bottom 20% mostly, it is bottom 70-90%.

Bottom 20% is like the ghetto.

>>60737364 (OP)
3 obviously

No one is interacting with the bottom 20% unless you are talking to a wagie.

Using “bottom 20%” is pointless.
Those dont count.
Using bottom 70%-90% makes more sense.

>>60737364 (OP)
Just clarifying, this thread is about net worth or bitcoin price?

>>60738753
Choose Your Own Adventure

for the majority of people 100k will always be the hardest because most dont plan long term. no matter how much you earn most people live pay check to pay check. if you are capable of accumulating 100k going to 1mil is ez. just a matter of time in the market.

These are the people that post on 4chan and probably /biz/ btw.

>>>/fit/76457952

I make 19/hr. Family of 8 including me. Live paycheck to paycheck. No savings.

>>60738897
Wow. It really is the poors that have the most kids.

Never ever sell your bitcoin for real estate.

I’d be over 10M today. Don’t be like me.

Family is perfectly happy how we live. I'm not. I want more money. I've tried some crypto and stocks but am always late to the game.

>>60737364 (OP)
Most people are poor and cannot save so 1 is objectively the hardest. It doesn't necessarily mean they're dumb at money, it's just that they're less privileged than the average American who isn't burdened by family and personal problems. You live in a bubble if you cannot understand this.

>>60738972
Yeah, the bottom 50% of Americans are pathetic.

>>60737364 (OP)
1.) hardest, because aforementioned reasons of 100X, saving hard from labor (your time/energy for money) or business etc.
2.) famous "6-figure hell", not much but nothing to write home about, can't even retire in a SEA hellhole but you can make the money work for you in a high risk way with the risk to lose it all. everything else just stretches the time horizon too long to never reach 7-figs or 3).
3.) see 2), because the money works on it's own you can just sit back and wait a couple of years to make it to 8-figs if you have no other emergency expenses on the way.

the most important thing is that you could always die on the way and religion/god is the main quest.

>>60738637
Dammit I meant aren’t

>>60738969
Q1 is when stocks are cheap. Buy in Q1. Wait for the rest of the year. You can 6X your money this way.

>>60738037
>The average person refuses to self-educate enough to learn finances
It's stupid to take this as a starting point. Fact is there is nothing stopping these normie retards from learning basic personal finance (i.e. stop spending money jackass), it's all self imposed learned helplessness. Wagies are fucked though, a valid prerequisite is certainly having a job that pays over 50k pretax at least in a LCOL area.

>>60737364 (OP)
>Which is harder a 100x or a 10x?
Gee, I don't know.

>>60737414
7 digit inferno is comfy though, 6 figure hell is pain because you almost feel like you are close to financial freedom but it never comes

>>60737721
If you are not top 1% in the age of extreme hypergamy you are incel loser

>>60741995
It it? My friend makes 300k a year…I doubt he is in “6 figure hell.”

>>60738403
liviing anywhere in spain means you live among niggers

>>60742025
No shit. Because he’s going to be in 7 figures quickly unless he’s retarded

>>60737512
>>60737658
>>60737364 (OP)

I have an actual net worth of 2.5 million. When you get to 7 figures, the game changes because the losses can be staggering and fuck you up massively.

At 7 figures, you must spread across asset classes - Stocks, Bonds, Bitcoin/Cash, Gold, Real Estate. Go 20% each and you've instantly bulletproofed yourself from everything that isn't an asteroid.

This 20% allocation is your steel barrier. If you want to start a business, go for it and carve out another 20% for it. But always keep this allocation unless you know for sure you can handle the mental ass-fisting that will show up when it feels like it

Number 1 is ez if you buy Gril

7THm8u86EiPK8rw49ffD6qQTYsz3J1dbpQJo5zEQrQZM

>>60738227
$100k is average for anyone who's not retarded.

>>60738310
>The median savings is somewhere around 8k.
The median amount in transaction accounts is $8k. I keep $4k in my transaction accounts and I invest around $60k/year. Keeping cash in a savings account is for immigrants.

2 >>> 3 >>>>>>>>>>>>>>> 1

>>60737364 (OP)
if you are sat at a table and offerd 50m to acheave this goal with said starting capital

anybody choosing number 1 is legitimately retarded


you cannot even secure credit lines with 1k

Hit 6 figure hell the beginning of last year, with my current investment plan and assuming markets return a conservative 8% average over the next 11 years I’ll hit the million milestone.
The question is whether I should transfer some of that into dividend paying stocks to supplement a potential home payment. Question for when im a few years away from that point. I guess I’m just hoping the housing market doesn’t get worse than it is now. (lol)
It took 2 years to hit 100k, it’ll be around 12 more to hit 1 million.

>>60744096
it took 2 year's to reach 100k with earning's

now you can litterly afk and make the million......


if you had to make the million the same way you made the 100k you would be utterly fucked

>>60737364 (OP)
> 2 or 3
But they're both a 10x

If making 100k is "sooo easy lol" then just do that 10 times, retards

>>60744096
>The question is whether I should transfer some of that into dividend paying stocks to supplement a potential home payment
I'm basically at this point right now, I have 1M, it's enough where I could buy a house in cash, I want to live in a house, but the average prices is 700k and it would set me back ~10 years of working/investing, and then all that capital would be locked up.
I just want to retire early, I have a rent controlled apartment for $1700/mo. So why bother getting a house? Even with it paid off, the opportunity cost alone would be the equivalent of $2300/mo.

I'd be fine paying 400k maybe 450k, that's essentially the price in today's dollars my parents and grandparents would have paid, but I can't bring myself to pay the prices today, especially with how filled with indians the city is becoming.
>>60744163
doing something 1 time is easier than doing it 10 times anon, that's the point

>>60744176
Anon two point's to make

firstly you understand investment and it is correct

seccondly do you want to retire at 50 after living like shit for 30 year's

or do you want to retire at 65 after living slightly less shit

the entire point is to enjoy the journey but the opportunity cost is gigantic

but what the fuck is the point of retireing 5 year's early if you cant eat ice-cream until you retire....

>>60744222
>seccondly do you want to retire at 50 after living like shit for 30 year's
At 50? I want to retire by 35.
>the entire point is to enjoy the journey but the opportunity cost is gigantic
>but what the fuck is the point of retireing 5 year's early if you cant eat ice-cream until you retire....
I live comfortably on 50k/year, I order food all the time, drive around visiting family and friends, don't even have to think about my spending or budgeting, I just don't enjoy a lot of things that cost money. My hobbies/entertainment are cheap, maybe $100/mo when you average everything out.
The only thing working more would give me is, more financial security, a house, maybe a fancier car, and I guess the ability to support a wife and kids without working but realistically I haven't had a gf in 10 years so that's not likely to happen anyway.
Overall I don't really need anything else beyond some financial security, I'd rather have an additional 10 years of freedom of my youngest years.
Less time working = more time spent enjoying the journey, more time focusing on my health, less time stressing over shit that doesn't matter
It's not like I plan to never do anything ever again, I have a lot of projects that I just can't get the time to work on them while also working a job. Maybe they'll never make a dollar, but I'd still get personal fulfillment over completing them.

>>60744304
dont have to justify it to me anon if you want to retire at 35 though the question isnt why do you want to retire its why dont you want to follow your passion

>t.over 35 under $1k in the bank

>>60744304
also i get it you want to find your passion thats fine honestly it really is and your being smart about it i get that i really do

but its not often your passion isnt profitable when you have a certain level of business acumen (although its normally not very profitable eather.)

>>60744315
>dont have to justify it to me anon
I'm just using you to help organize my thoughts, thanks
>if you want to retire at 35 though the question isnt why do you want to retire its why dont you want to follow your passion
>but its not often your passion isnt profitable when you have a certain level of business acumen (although its normally not very profitable eather.)
Yeah that's the thing, I want to do gamedev, I have all the necessary skills to do it, just need time and discipline, but it's a very hit based industry, most games aren't profitable. I don't want to do it in order to make money, I want to be able to work on my own games without worrying about them turning a profit.
So my plan has been to work a relatively higher paying software dev job and save as much as possible until I have enough for retirement, then switch over to my own projects when I hit my number.

I could try to quit my job today and have a go at it, but if I'm unsuccessful and I have to find a job in 5-10 years, I'll be nearly 40 facing age discrimination, a larger labor pool with more competition, with less savings, and ultimately a lower salary, where I'd be even further away from hitting my number, forced to work a job I don't care for for even longer.
Better to just stick with what I'm doing now until I have enough.
>t.over 35 under $1k in the bank
Ouch how did you manage that?

>>60744088
Do you not have a job? The majority of white Americans eventually reach #1

>>60744315
>t.over 35 under $1k in the bank
Why should anyone listen to you when you’re a financial failure?

>100x
>10x
>10x
>which one is harder
the 100x obvoiusly, retard.

>>60737364 (OP)
I think 1M to 10M. I know that's controversial. You can't wage grind that or ez 10x. Unless you hold Shiba Inu than it is very possible, I think.

>>60744315
>35 under $1k in the bank
dude youre fucking screwed. ngmi

>>60745699
$0 -> $1 is the hardest actually, it's an Infinityx

>>60745699

That's a misunderstanding of relative scale. One can easily save up the $0 to $100k. One cannot merely save up $100k to $1M, that requires market luck and compounding.

>>60737364 (OP)
$1k to $100k - took me less than a year because of the 2017 bull run
$100k to $1mil - took 4 years after years of heavy DCA and holding
$1m to $10m - ??

It's hard to estimate if/when I'll get to $10 million. I stopped working when I got to $2.2 million net worth.

>>60746715
Really depends on if you're earning or investing.

>>60737364 (OP)
Easily 2, although there's no way I'd ever know about 3

40, 19/hr, $17 in bank. No savings. Working til I die.

>>60747194
literally how is that situation possible unless you're disabled (both physically and in the head)?

>>60744176
Instead of buying the house outright in cash, get a mortgage and calculate how much house you can afford such that your monthly payment is around the same as your rent. Then you can keep more of your wealth liquid in the markets to minimize your opportunity cost. Figuring out how to effectively manage debt is important, the problem normies have is they always get into too much debt and get buried by the interest payments. As long as you don't fall into that trap, debt/leverage is a wealth multiplier.

>>60747841
>get a mortgage and calculate how much house you can afford such that your monthly payment is around the same as your rent
I pay 1700/month in rent.
Interest rates are 4%.
If I got a house at 405k, put down 20% (81k), the mortgage payment would be $1704/mo.
Problem is there is literally 0 houses that sell for 405k around me, average is around 750k, absolute minimum is 600k.
Houses are simply too expensive relative to rent.

>>60747957
Based anon actually doing the calculation. So you have logical justification to keep renting. Done. If you make more money and/or prices come down and/or you move then do the calculation again. Ygmi

>>60748175
Should you include ins/prop tax in that calculation?

>>60748235
Yes. All housing related expenses should go into the monthly payment. Whatever is relevant to cashflow, though you could consider the principal paid on the loan to be savings since it's your home equity. Up to you really.