/biz/ - Business & Finance

>>56118429
I'm a multi-millionnaire in my 20s. My son's college tuition is already perfectly taken care of and I'm in the process of buying my second house.

The idea of working 40 more years with nothing saved is mind-blowingly sad.

>>56118429
It’s just a human thing DESU. There are certain castes of humans that will never make it no matter what

>>56118486
your son is gonna be a troon

>>56118429
I don't have anything saved for retirement either, but at least i didn't work for it, just NEETmaxxed for the past decade.
My recently dead gramp's pension was like 600€/mo even though he worked his whole life, but since it was in a special regime as he was a business owner, the state gave him barely enough to survive.
I get the same amount just in NEETbux, this is so fucking sad.

Also he died with half a milli in debts, we had to do paperwork to say we didn't want anything belonging to him, otherwise we would inherit the debt alongside the house and assets. So the bank seized everything.

No fucking way i break my ass like he did during his entire life, to end up living in complete misery, smothered by debt and surrounded by long-nosed raptors ready to steal everything from me the day i die.
I'd rather not break a sweat and be miserable -but effortlessly- right now.

>>56118469
USD 100 in 1975 is the equivalent to investing US $570.68 per month today. Not impossible, but out of reach for the majority of Americans.

>>56118469
>line go up forever

>>56118597
>The majority of Americans were making less than 5k a year in 1975.
Do you realize how retarded you sound?

>>56118597
>>56118673
To be more realistic if you set it to start at $50/mo in 1975, which is $294 in 2023 dollars and ended it in 2020 (45 year working life from 22- 67) while increasing the contribution amount each month keeping up with inflation, you would have $983,000.

The median family income in 1975 was $13720 and the minimum wage was $2.10/hr or about $4200 a year at 40/wk. That would have been less than 5% of the gross monthly wages of a median income family, plus pensions were a lot more common back then and they have social security on top of this.

With minimal savings any boomer could have become a millionaire.

this is why boomers are awesome, and why I will always hire boomers over a faggot like you

>>56118597
>cpi
$100 in 1975 is $2200 in 2023 dollars

>>56118631
Dull little statist. Fiat has no bottom, so assets have no top

>>56118429
Congratulations you just realized the people screaming about boomers are agitation shills.

>>56118842
trust but verify

https://data.bls.gov/cgi-bin/cpicalc.pl

>>56118429
and in australia that half is mostly women.

>>56118429
because they get paid decent pensions they don't need to save

>>56118429
bump

>>56118486
So you're purchasing a second property you don't need yet you think it's sad that poor people exist. Fucking loony too n world we live in.

TBD
Total Boomer Death
14/88

>>56118429
My mum is on a £25k* pension as a former teacher. She worked til she was 60 on and off. Owns house outright, bout a quarter of a milly.

>*that's more than I've ever made with a pharma degree and journal published code work

Her friends up the road, also former teachers, own house outright, bout a quarter of a milly (inherited at young age, charge kids rent), bout 65-70k£ combined pension. Literally never have any money.

The former school lab technicians a few houses away also own their own house. Bout a quarter of a milly pounds.

Mine, 47.5k. Bout 10k savings.

Don't forget on top of that they can also apply for free solar, free insulation, free new boiler and are automatically energy subsidised.

Pensions, triple locked in. Going up at 8% whilst millions of c'hunts stacking the trucks and shelves get a 5 pence per hour rise, and then an hour less to complete the task in.

Don't rush to feeling sorry for them because they're poor, because they're not. And if they are, they've wasted it at such a rate they're morons.

The people with 65k coming in would have to be spending it at a rate of £180 a day to end up with nothing year in year out.

Imagine taking financial advice or feeling sorry for someone snorting £180 of coke a day. The only difference is they spend it on other things, like dying their hair purple.

With that much disposable income coming in they should be able to help themselves and their kids just by whomping a few thousand or ten into a higher gain investment.

They could buy my house outright in about five years just saving 10k of that each year; less than 1/5th. And these are the people dispensing life advice to kids. They're fucking morons.

>inb4 what makes them happy
They're not. They're propper dreary foks

The boomers next door paid £14k to have electric radiators fitted, then realised its expensive to electrically heat a house; the woman was a nurse and the guy was a chemistry teacher, I.e. you'd expect them to be able to do basic maths.

They had a full ISP package with Virgin that cost them £40k over 20 years, despite the fact they barely use the net or TV.

Un. Fucking. Believable. But actually true.

>>56118429
Oh look, another totally organic Identity Politics thread.
Divide and Conquer destruction form the inside workings at its finest.

good job rat brained cancer kikes

>>56120194
this
it can all be traced back to democracy
short term promises for the retarded plebs have created a long term catastrophy that gets bigger every day

>>56118842
>$100 in 1975 is $2200 in 2023 dollars
How many Americans are able to invest 2200 dollars a month?

>>56120747
median household income is like $75k a year. not many. kek.

>>56120756
Hmm...realistically how much do Americans invest per month then?

>>56120761
5 seconds of googling says the average 401k contribution is 7%. i know we're mixing average contributions and median household income, but let's just pretend it's $75k x 7% * (1/12) = $438/month.

>>56120756
hehe... now how much of that 75k is left after big daddy uncle sam? 49k?

>>56120774
probably $60k. middle class poorfags with kids get tons of tax credit gibs

>>56120194
They're poor because they deserve it you dumb faggot.

>>56118847
>fiat has no bottom
kek

>>56120242

>Pharma degree
>$59k USD

I will never understand how fucking poor you Euros are for being first world countries - pharmacists here in the US make over $130k/yr. Fuck I made $50k/yr right out of college as an accountant, a few years later now $90k/yr. How do you faggots survive?

>>56118572
I think a lot of the "finance will save me" people really haven't priced in that a huge portion of the working age men feel this way.
There's nothing to be gained by socializing so only 50% do (and that's likely to go down with this next credit cycle.)

>>56118673
Ironic
>Picrel is you

>>56121069
What do you mean by finance will save me people

>>56119112
>but da massa says da inflation onl' go up dis mannies!
Already >cpi your retard ass. Check money stock computer.
>>56120747
And yet almost every American could effortlessly afford to invest $100 a month in '75, really activates the almonds
>>56120865
Money stock tripled between '80 & 2000, tripled between 2000 & 2020, and is now on pace to triple again between 2020 & 2030 (repeating the '70-80 pattern). No bottom.

>>56120279
Boomers in the professional class are unbelievable stupid in all matters outside of their one expertise. They have a complete aversion to thinking about any topic not directly related to their next dose of hedonistic consumption.

Lawyers and doctors are especially bad about this because they actually believe their too smart to make a bad decision when their buddy says they should go all in on Bernie Madoff's wild ride.

>>56120804
sounds like something retard troon like you would say

>>56118429
fuck u talm bout nigr like just live haha walk away from the screen nigr

>>56121031
It is seriously like South Sudan out here. Only way to survive is elite finance or corporate law for basic level of comfortable life.

>>56121745
>>56118847
>fiat has no bottom.
go buy something with your zimbabwe dollars right now

>>56121031
My rent for a nice apartment in France right near the Swiss border was $600/month. I walked to work so I didn't need a car or have to pay (((insurance))). Didn't have to pay (((Health insurance))).

>u mongs with this generation shit
1920 - 1940 = Silent
1940 - 1960 = Boomer
1960 - 1980 = X
1980 - 2000 = Millenial
2000 - 2020 = Z
2020 - 2040 = Alpha (II)

spot the pattern. op parents are technically gen x but there should be an obvious swing as to how early gen x are closer to boomers than peak gen x or late gen x. so would call op parents xoomers here but nor retirement is gonna be more of a xillenial thing. silents get off easy. late silents are the boomiest

>>56120804
Some may deserve it and some work their hands to the bone their entire life and don't have the money to save.

>>56123053
I convert my Fed funny money into BTC as soon as it hits my bank account, I've been doing this since 2017

>>56121031
we don't call them yuropoors for no reason anon. It's 3rd world almost

>>56123226
based
i wish you the best

>>56118429
bump

>>56120290
This is the opposite, ops calling out how shitty people take care of the elderly these days

>>56118429
bump

My father was like this. He passed this year. At the end he had social security for about 2k a month, and a pension of about 300 a month. He had 7k in his bank account and about 20k of assets I sold like a tractor and a truck. I was buying him groceries his final year.

>>56123226
Bullshit you are

>>56118429
bump

>>56118429
bump

Retirement is a concept invented by the boomers to continue their lifelong streak of contributing absolutely nothing while consuming everything.

>>56120279
Teachers aren't smart

Nursing is the lowest medical job going

>>56121031
Come visit the slums of Britain, I'll show you our wares

>>56121031
>how fucking poor you Euros are for being first world countries
but we are not first world, it stopped being that with the boomers in the late 80's early 90's
europe completely missed all gains from the dotcom revolution and has only slipped away further since

>>56118429
bump