/biz/ - Business & Finance

>parents keep losing money on bad investments
>always give me investing advice
Idk what’s worse

Lol imagine having dumb boomer consoomer parents. I can't even imagine it. It's so foreign to me. Hehe lol!

>>24608868
>parents are retarded immigrants with no CONCEPTS of how to invest

>visit parents
>cable box massive and the viewing guide takes forever to load
>They have 1 attached to every tv, including the tiny one in the kitchen
>Ask how much a month all this shit costs
>"Oh like $350, we get HBO!"
>Try my damnest to explain how they're getting ripped off
>When that doesn't work, at least try to bring the cable boxes to the xfinity or wherever they're from to get new ones
>They won't listen and they don't want new ones cause "they don't have clocks on them!"

Boomers are fucking dumb.
Oh and fun story with the ancient cable boxes? Eventually they got replaced because one of them started making a hissing noise. Myself, my brother, my cousin, my aunt, all told my mom it's making noise and she says "I don't hear anything" as if we all met in secret and decided we wanted to fuck with her.
Only reason they got replaced is cause when cable guy came for a different reason he heard it and told her it was a fire hazard.

>>24608894
Most boomers are financially illiterate. Even most of the wealthy ones need financial advisors, hedge fund managers, etc...

Investing is very difficult to grasp emotionally speaking.

Only a select few can consistently achieve their desired investment objectives in an efficient manner. Most are just winging it even at the top.

>>24608868
>tell parents to get into stocks
>they say its just gambling
>they gamble thousands a month at the casino

>>24608868
Can you give it to me instead?

>>24608974
Suck on penises. Sloppy sloppy sucking on penises. The more the better. Dont be shy. Make that penis sucking money.

>>24608868
same. my mom and her husband both quit their jobs in march. then they ask me if i have any ideas on how to manage since i seem to be doing so well. kinda hard tell my mom how retarded she and her husband as she comes to that same realization and has to ask me for money. weird feel.

>>24608988
Yea i told my mom and dad that too and they continue to not suck for cash. Idiots. At least im making bank.

>Parents have investments in gold and stocks
>I made lots of money but also lost lots of money in 2017, they've been skeptical of crypto ever since
>they trust the banmking system and big stocks
>this february I put in a bigger sum again
>keep updating them on my profits
>73% in the green as of this week
>they ask me which exchange I'd recommend and which crypto to buy
>they wanted to buy some ripple on revolut, thankfully talked them out of it
>tell them bitcoin is risky at this price point, would recommend monero as undervalied
>they buy btc at $19450
*sigh* I've got a bad feeling about this, and I KNOW they will immediately sell at the earliest dip because they don't trust the market. Of course silly me promoting a ponzi is going to be at fault, once again

>When your unemployed millennial son who trades digital coins in the basement tries to tell you how to invest

>>24609042
So is BTC gonna crash again you think? Should I buy on the dip when people panic sell? I just sold off about 20k of stock and wanna reinvest when something else dips.

>>24609042
Don't mention crypto at an ATH to boomers, they suffer from the most severe FOMO known to man

>>24608965
>have opportunity to invest in btc/eth/link/pnk
>gambles on shitcoins instead
your parents are pajeets lmfao

>>24609042
They're retarded from all the leaded gasoline they huffed as kids.

>>24609080
Normies in general, not just boomers.
2017 was painful, every person who you know couldn't use a computer that wasn't running iOS was talking about how they could have bought bitcoin when it was only $1 but didn't.
They all bought in and assuming none of them sold, they only saw a profit this month.

>>24609052
>when your son can pay off both your mortgages but you think you know better because mother goose and jack be nimble or some shit

>>24609079
I don't know, nobody does as a matter of fact, anyone who says otherwise is a liar. However I dislike that we've been going sideways for a long time now, although I'm surprised at how long the market managed to hold 19k daily closes for

>>24609135
But you think Monero's less volatile with more potential?

>try to give my mom advice about literally anything
>she rejects
I think my mom is autistic

>>24609195
I think monero is severely undervalued (or was a couple of hours ago), and it will be one of the most successful cryptos in the coming year. It's not a moonboy coin, so don't expect 50% green or red candles, but it has a steady marker and one of the most solid communities in crypto.
If you're looking to invest in a good project with strong values and fundamentals and long term gains, monero is for you. It is not however for making a quick buck.

>>24609240
Thanks for the tip! I've only traded stocks so far so I'll research monero

They're my safety net if crypto fails so I don't want them invested in it. I'm their safety net if fiat fails which is more likely.

>>24609255
no problem, also check out the general:
>>24604246
lots of useful info in there and if you have any questions people will be happy to help you out

>>24608868
>Mother has 70k debt
>Tell her its a good idea to pay that debt off instead of rolling it over with more credit cards and consolidation
>She now has 100k debt.
>Dad is addicted to ninja car and payday loans

They're beyond saving. I just charge them interest every time they ask for money from me and make sure they pay me first.

>>24609405
Stop jewing your parents

>>24609240
you’re getting too cute. they’re better off buying btc at19.4 than monero

>>24608868
This right here I unironically tried to get em to buy btc at 1k in 2015/16. Unironically they would have x4 their money even if they sold the absolute bottom of the bear market. Meanwhile they keep acting like they have no idea why they're perpetually poor and brush of that missed opportunity.

>>24608965
kek

>>24608868
I gave up giving advice to anyone, even if they ask for it. I just tell them to do their own research or get a flat-fee fiduciary advisor. Way too many instances of people completely fucking up the most simple of advice (like as simple as "put your money into an index fund and then forget about it for 30 years" and then they look at it during a downturn and freak out and sell) and then blaming me for their financial failures. I learned not to tell anyone what to do with their money, and I'll only tell them what I do with my own money if they're very close and I trust them not to take it as direct advice.

>>24608868
Do your parents know about the Tomochain / Lition buyout?

>parents hang on every word I say
>Told them to put 1/3rd of their wealth in Physical precious metals, 1/3rd In small cap miners and 1/3rd in crypto

This was 6 months ago. They've already doubled their whole retirement fund. It will either be a massive success or complete disaster, in which case I'll just kms.

> try to give parents sex advice
> they ignore it and have me
Name a comfier feel

>>24608868
>portfolio makes 15% last month and 110% over the past year
>tell my parents about it
>they both ask me for advice about investing their retirement money

Do you actually make solid gains bro? If you show them you know what you're talking about then they'll probably listen to you.

>>24608962
>Investing is very difficult to grasp emotionally speaking.
no its fucking not, the vast majority of people just dont care or are too lazy to learn and research

>>24608868
>parents keep hinting at me that its okay to come out as gay
>im not gay

>>24608868
Gotta be so rich they can't ignore you.

>>24610570
Then why don't you ever bring a nice girl over, Anon?

>>24608868
don't worry. this delusional feeling of superiority will pass as you age

>>24609042
>FUDS ripple to his parents, preventing them from making it.

You're a shitty child.

>>24609079
nobody knows and thats what makes it so bullish

>Dad makes nearly six figures and barely has any retirement and credit card debt because he won't stop buying guns so he can brag about them on facebook and simping for post wall train wrecks of women

>>24608949
>"they don't have clocks on them!"
my mother continues to use a slow as fuck win8 laptop instead of a faster win10 because the new one "doesnt have solitaire!"

>>24609609
stop being a cuck

>>24610534
>they'll probably listen to you.
you are an orphan, arent you?

>>24611972
No, just lucky enough to have parents who aren't arrogant I guess.

h

give me financial advice instead, I will (probably) listen.