Net Worth Survey

MPmaster
MPmaster

Age
Job
Sallary
Debnts
Assets
Net Worth

askme
askme

@MPmaster
22
Student
$12.50/hr, part time
None
$4k in robinmeme
$14,000

Deadlyinx
Deadlyinx

@MPmaster
Age
24
Job
Gobernment
Sallary
$54k
Debnts
~0
Assets
$55k
Net Worth
$55k

Methshot
Methshot

23
Helthcare Tech
$52,000
$20,000 ($45,000 one year ago)
~$1,000 leftover from when I invested in college. Pulling it out to help pay off loans
- $ 20,000

Sharpcharm
Sharpcharm

26
SEO
55k
130k (with mortgage)
175k
45k

Emberfire
Emberfire

28
Chemical Engineer
98k
0 debts, student loans paid off and renting
401(k), Roth and Traditional IRAs, mostly in index funds
About 300k if wife's assets are included

Garbage Can Lid
Garbage Can Lid

25
Programmer
6,000,000
None
6'3
/fit/
8" dick

SomethingNew
SomethingNew

35
investment management
$150,000
mortgage: $350,000
house: $525,000, retirement/savings/etc: $320,000
$495,000

Burnblaze
Burnblaze

Age
27

Job
Owner Op flatbed

Sallary (salary*)
$210K GROSS last year took $45K salary

Debnts
Debts? I have none unless you count my credit card, which I pay in full every month.

Assets
My house (paid $135K for it and have put about $20K in renovations don't know current value)
2009 Freightliner Columbia with a Detroit pre emissions 12.7l
2015 Dodge Ram 2500 Cummins
2016 Lowe Bay 22 boat.
$14K in personal accounts
$57K in Vanguard account
$90K in business account

Net Worth
Don't know I'm dumb

SniperWish
SniperWish

@MPmaster
34
Business analytics
$98k/year, with 5 years experience in position
$100k or so, including mortgage and student loans
$500k or so, including house, 401k, brokerage, etc
Um, 500k-100k=400k

WebTool
WebTool

@Burnblaze
Assets
Counts boat and pickup
Those aren't assets. The Freightliner does, though.

BlogWobbles
BlogWobbles

Age
22
Job
Sales consultant at cell shop
Sallary
22k
Debnts
19.4k student loan
Assets
18kish
Net Worth
negative

LuckyDusty
LuckyDusty

@MPmaster
24
aerospace stress engineer
$40/hr (~$80k)
none
~$40k in cash and investments, 2 bitcoin, a nice PC and some figs of my waifu and miku
see above

Illusionz
Illusionz

@WebTool
Vehicles are depreciating assets, but still assets.

my CPA who is very sexy btw

Soft_member
Soft_member

@MPmaster
29
Energetic material processor
$16.20/hr
2k on care credit
Just my car. I rent an apartment
Pretty much 0.

viagrandad
viagrandad

24
Programmer
50,000
-$25,900
$15,300
Net worth: -$10,600

askme
askme

@MPmaster
27
Accountant
58k (plus about 6k/yr in school reimbursement, 2 years left)
165k + 8k - (Mortgage / Student Loans)
~174k (home and car)
~185k (home, car, savings, 401k)

TalkBomber
TalkBomber

@MPmaster
Age
19
Job
Student
Sallary
$0.00
Debnts
$0.00
Assets
$5k ish
Net Worth
$5k ish

Dreamworx
Dreamworx

@askme

You do realize that your home is an asset right? And the mortgage is the liability/debt?

Fried_Sushi
Fried_Sushi

Age
26
Job
Electrician
Salary
$48k base, maybe $60k with overtime

Debts
$2900 car

Assets
$25k savings
$2000 other
Net Worth
$24k

girlDog
girlDog

@MPmaster

Age: 36
Job: Goldman Sachs Finance in NYC
Salary: 115k/year + 10-15% bonus
Debt: ~96k student debt, 11k car
Assets: ~10k equity in house, ~15k piano, 20k in 401K, 8k in bank as of today (a bit inflated, it was just payday)
Net Worth: Negative 54k

Evil_kitten
Evil_kitten

34
Accountant
$89k
$9k
$53k
$44k

5mileys
5mileys

@Dreamworx
For all you know my savings & 401k could have 100k in it. But yea you right I calculated net worth completely wrong hahahahaha, forgive me I am high

Poker_Star
Poker_Star

@Dreamworx
No, it's not. Your home is a liability if it has any sort of loan against it (be it primary mortgage or HELOC) and should be treated as such. Treating houses like assets while money is still owed against theme is the kind of mindset that caused that crazy housing clusterfuck a few years ago.

Techpill
Techpill

@MPmaster
Age: 23
Job: med student
Salary: N/A
Debt: $200,000
Assets: $3200
Net Worth: -$196,800

But its worth it cuz everyone already treats me like I have piles of cash, right guise?

Carnalpleasure
Carnalpleasure

@MPmaster
Age
21
Job
importing/consulting/business man of 6 years
Salary
I take home 23K on the nose per month after paying my primary employees(my mothers) and dealing with business logistics
Debts
Z E R O forever.
Assets
three properties for various purposes, only live in one, some gold and silver, firearms(mostly collecting, very rarely shoot guns at all other than my CCW once every couple of months just to stay sharp), rare guitars like a 1963 Gibson 335, three Fender Stratocasters from the 1950s, some old Martin acoustics... just shit I want that i won't lose money on, ever. I want to enjoy myself. I'll have more than enough for retirement and I know what I buy will never lose money, only increase in value.
Net Worth
it's probably around $1.5M at this point.

Snarelure
Snarelure

@Poker_Star

No, you are absolutely wrong. The house is an asset that you can sell, the mortgage is a liability with which you purchased the asset.

Learn elementary accounting: Assets = Liabilities + Equity. When you buy a house your assets increase by the value of the house, your liabilities increase by the amount of the mortgage and your equity increases by the amount of your down payment. QED.

Burnblaze
Burnblaze

@Carnalpleasure

Post your guitars or cool story bro.

LuckyDusty
LuckyDusty

@MPmaster
Is it wrong to count 401ks as net worth as there's an almost certainty tax will be paid on it? I understand selling other assets has fees and taxes, but is it genuine to call pretax savings net worth?

DeathDog
DeathDog

@Snarelure
Then you would be operating at with negative net working capital bud. The liability of the mortgage will always be more than the value of the house (inc. property) as the mortgage is the net asset value of the house at the time of purchase with the addition of interest (which may or may not be adjusted throughout the term of the loan). For the majority of Americans, the home is more of a liability than an asset. I'm not saying this line of thinking is the absolute only way to think about your home, but I'm firm believer in the this being the smartest way to operate.

You seem like a lad that just finished some basic accounting courses at your local community college and now think you're any bit intelligent in the fields of finance and accounting.
Protip: you aren't.

TechHater
TechHater

25

Financial Analyst

85.127

No Debt

Investments(35K~)Physical Assets(70K~)

120K

eGremlin
eGremlin

@MPmaster
19
Law Clerk
$20/hour
$0
$20k
$20k

Supergrass
Supergrass

@MPmaster
32

Project mgr

107k in low cost area

30k left on student debt, 32k on rental property, 106k on primary res, and a 20k loan

80k rental prop (more if you trust zillow), 180k pri res, ~60k 401k/ira, 30k cash, 25k brokerage/robo advisor

Simple math looks to be ~187k in the black

(Need more rentals/passive income for the early retirement win)

Need_TLC
Need_TLC

@DeathDog

The liability of the mortgage will always be more than the value of the house (inc. property)

This is just wrong. Asset value of the house may or may not rise and be greatly in excess of the liability, even with interest factored and cost of sale factored in.

Given that the debt will have interest, it is at purchase going to be a larger liability in time, but the fact that a liability has future cash flows does not change the fact that the house is a offsetting asset.

I get that you think homes should not be considered part of net worth, but they aren't nearly as rapidly depreciating an asset as things like vehicles. The fact that income properties, REITs, commercial property investments, etc even exist is even more proof that real estate has asset value and should not be completely dismissed as an asset.

Nude_Bikergirl
Nude_Bikergirl

@DeathDog
It depends on the value of the asset. At the end of the day if your loan is 150k and you can sell the asset for 180k then you are net positive. If you're talking about taking out another loan on that equity thats a whole other conversation.

Booteefool
Booteefool

@LuckyDusty
no that would not be net

Evil_kitten
Evil_kitten

@Techpill
Debt: $200,000

SomethingNew
SomethingNew

Holy fucking shit I suck at life, every time I look through a thread like this I'm reminded of that fact. All these people making 6 figures and having thousands in savings in their teens and early 20s. I have to go to reddit's r/assistance now or read some newspaper articles on how poor the average american is to feel better about myself. What the actual fuck.

Bidwell
Bidwell

@Poker_Star
Your home is a liability
Stop being a fucking retard. The home is an asset; the mortgage is a liability.

This is accounting, not politics. Fuck off back to /pol/ if you want to rant, Pajeet.

massdebater
massdebater

Age
21
Job
retail merchandising/client representation
Salary
16 an hour + mileage and drive-time
Debnts
$20,000ish
Assets
my nana's old 2002 Kia spectra, and a laptop full of dank meme's
Net Worth
$2,200

AM I GONNA MAKE IT GOYS?

Inmate
Inmate

@Booteefool
401k is included in net assets faggot

youre thinking of liquid assets u fuckin fuckdumb

kizzmybutt
kizzmybutt

@SomethingNew
All these people making 6 figures and having thousands in savings in their teens and early 20s.
Friendly reminder that Veeky Forums should be named /roleplaying/.

There's not more than three well-off people that have ever posted in the history of the board. The rest lie about their salary, net worth, and investment performance with the practiced ease that they lie about losing their virginity to their imaginary Canadian girlfriend.

Techpill
Techpill

Would I make more money as a Software engineer or Accountant/Financial Analyst.

Longterm goal: Own Business.

PackManBrainlure
PackManBrainlure

@SomethingNew
Jump into something. I started importing products at 15 years old with $200. You can do it. Find random niche products. Start small and crunch the numbers. As long as you make a profit, it's worth it over working for someone else. Growth is all that matters. If you have no debt, and a growing business, you're doing amazingly. Trust me. You want money? Be like me. I do major work maybe 10 hours per week. Put the work in. Use your brain, and I mean really use it, and you'll never work as hard as other people do for the same dollar.

Emberfire
Emberfire

@kizzmybutt
Why would so many of them they lie though? I see a couple of students here and other professionals which make what you would consider the average but then there's a fair bit of people who just make more than decent money. It makes me feel really bad, like I'm wasting my time in college.

TechHater
TechHater

@SomethingNew
I mean I started off with regular jobs like wal-mart. eventually I got a factory job, and worked hard at it. They recognized how much I did for the company, so they moved me into a cushy position making explosive materials.

I basically just set up and tear down the machines and let them do the work. So its stress free.

I only make $16.20 an hour, but I've always been a modest person anyways.

Its sort of funny y'know. I always end up in roles where I either lead or am trusted to have no oversight whatsoever. However I just can't see myself running my own business.

I know you didn't ask for my life story, and I'm not exactly swimming in money. But I don't feel like I'm really behind anyone. As long as I have food, and a roof over my head, and my loving wife, I don't really care about money that much myself.

StrangeWizard
StrangeWizard

@Emberfire
Why would so many of them they lie though?
Never played liars poker? Is a massive circle-jerk of one-upmanship. Someone claims to make $80K, so the next NEET claims $100K, and then Pajeet says $120K (which is probably accurate, but in Rupies). And it spirals and spirals.

Asking why people lie on Veeky Forums is like asking why OP is a faggot. It's because they're faggots.

Ignoramus
Ignoramus

@MPmaster

24
Project Coordinator
50K
No debt
24K worth of stock
37K

Illusionz
Illusionz

@Inmate
Hey dumb fuck, the taxes you need to pay on your 401k are a liability. Assets - liabilities = net worth

Need_TLC
Need_TLC

@MPmaster
24
Data Analyst
52k (hired this week)
no debnts
2k
10k

Crazy_Nice
Crazy_Nice

@StrangeWizard
I just can't understand how upping someone via lying on Veeky Forums would give anyone any gratification, especially since that lie won't ever translate to real life. Like I could claim that I make $150k or whatever but I'll still be dirt poor IRL. What would be the point? You can't even have a sincere discussion then because all you are doing is pretending. I guess my mistake is trying have a serious convo on Veeky Forums out of all places.

Sir_Gallonhead
Sir_Gallonhead

@MPmaster
Age
37
Job
Technical Architect
Sallary
156k/yr
Debnts
60-70k
Assets
~900k
Net Worth
No clue, I have a wife and two teenagers its fucking expensive as hell where I live and I'm about to throw down 1000ETH on the SDTV ICO in a few hours tho

MPmaster
MPmaster

@Sir_Gallonhead
Don't take this personally, but I've always wanted to ask this someone older, what are you doing on Veeky Forums?

girlDog
girlDog

@MPmaster
24
Pharmacy student
$0
$320,000
My car, $11,000
-$309,000

happy_sad
happy_sad

@Crazy_Nice
What would be the point?
To rustle your jimmies, dumbass. You, with every post you've made in this thread, are feeding their tiny attention-whoring egos.

Stop doing that.

takes2long
takes2long

23
machine manufacturing tech
fug i dunno like 33k 15.50 a hr full time
owe 3k on my CRV and 1500 left for my rent term(Its a debt just in a disguised form)
700 401k 3k in college savings 900 in Credit union about 2k in firearms and ammo

like 5k

askme
askme

21
Jr. Electronics Engineer
42K
None, live with parents
30k
30k

TreeEater
TreeEater

@girlDog
Get out now, it's not worth it. How the fuck did you get that far in debt?

t. new pharmacy grad

Snarelure
Snarelure

I am a stinky NEET who cam whores for wage cucks. Give me money and ill spread my boi pucci for your enjoyment.

Total assets = bout tree fiddy. Will also cam whore for RS gold. I am not fussy

RumChicken
RumChicken

Age 26
Job Small business owner
Salary 21k
Debnts 146k
Assets 500k
Networth 354k

CouchChiller
CouchChiller

Age
27
Job
Software Release Engineer
Sallary
$81,000 + profit sharing (like $500, company sucks)
Debnts
$122,400 in mortgage
Assets
$140,000 condo
Net Worth
Approximately $40,000 between savings, salary, and condo.

Replacement car (6k), student loans (24k), and condo purchase feels (4k) ate into any gains for a while, especially since I made less than 45k from 23-25. Finally going to have 5 digits of spending cash next year.

@Techpill
@girlDog
You will be mourned.
@MPmaster
Old folks have been shitposting in IRC since the internet first because popular. It only makes sense they'd find Veeky Forums eventually, just like you'll still shitpost well into your 40s. You may stop for years at a time, but it always comes back.

JunkTop
JunkTop

25
NEET (left previous waiter job, still have enough leftover to survive untill the end of the year)
0
0 parents paid for tuitions
55k worth of cryptocurrencies

Supergrass
Supergrass

@JunkTop
55k in cryptocurrencies

Damn thats some huge exposure. I'd be selling that and buying cheap real estate, desu

Need_TLC
Need_TLC

Age
25
Job
Tradesman
Sallary
100k/year
Debnts
360k
Assets
450k
Net Worth
90k

Lord_Tryzalot
Lord_Tryzalot

@Need_TLC
360k debt

lold

Sir_Gallonhead
Sir_Gallonhead

@Lord_Tryzalot
welcome to the australian housing market

MPmaster
MPmaster

@Sir_Gallonhead
iktf but there are cheap areas in aus that you could buy for ~70 - 150k which isnt even the deposit price for a cucked regular house. Catch is you need to earn money some of way like online since the jobs in those areas suck but tradies have work anywhere desu

Soft_member
Soft_member

Age
22
Job
Logistics Operator/ own a rental property(fourplex)
Sallary
gross-68k/year net-48k/year
Debnts
176k- mortgage
15.5k- car
Assets
215k- rental property
14k- car
2k- 401k
Net Worth
39.5k

girlDog
girlDog

@Supergrass
I would lose at least 30% on taxes as soon as I convert them to fiat. Plus why would I sell when any one of them have a chance to make me a millionaire? Even there's a slightest chance, the odd is still better than winning lottery and I have more control over cutting losses.

farquit
farquit

@girlDog
paying taxes

Hearty chuckle.avi

Firespawn
Firespawn

@Emberfire
That's the point, bud. Motivation

RavySnake
RavySnake

@MPmaster
24
student and investment guru
$800 a month from goverment grand + what i make from investing
debts; mortgages
assets: Apartment + stocks
net worth~180k euros

eGremlin
eGremlin

20
Sugar baby
60000 (pretty good in a second world country)
None
Apartment
50000 i think. Does this include the shitload of clothes?

AwesomeTucker
AwesomeTucker

@girlDog

new york really is a meme. you probably work 80 hours a week to be that poor

CodeBuns
CodeBuns

Age
31
Job
Senior Analyst
Sallary
80k/year

The secret is:
no gf
no car
no pets
dont drink

Nojokur
Nojokur

@CodeBuns
31
only saved 160k
earns 80k/year
no gf
no pets
no car
no drink

Do you burn the money you earn?

BunnyJinx
BunnyJinx

21- 22 in 4 days
Own online store, partial stake in weight loss supplement company and run small investment start up company
210k base - 660 if conditions met
200 bucks, one usused account 7 bucks overdrawn
2015 maserati ghibli
1985 bmw m635
deposit on cayman gt4
200k in bank
400 in investmentswith outside companies
500k internal investment

1-2 mil( personal)
( partner 2-4 mil)

GoogleCat
GoogleCat

@MPmaster
Age
21
Job
Dominos lel
Sallary
$26K
Debnts
$0
Assets
$3k
Net Worth
$13,000

Supergrass
Supergrass

@CodeBuns
Or... Have great gf who earns too and cuts your living expenses by 50% while also fulfilling your needs.

Stay poor with your shitty life

Poker_Star
Poker_Star

28 years
Financial Analyst
€ 40,000
€ 850,000 in real estate, cash, BTC, ETH
€ 300,000
€ 550,000
Thanks dad

Sharpcharm
Sharpcharm

@MPmaster
44
small business owner
$220,000 gross, $12,000 net
$140k in debts
$1.4 million in assets today. It changes daily.
over a million

Garbage Can Lid
Garbage Can Lid

@MPmaster
22
Investment advisor
45k
4k borrowed to invest
Car + 24.5k in investment account
30kish

King_Martha
King_Martha

@MPmaster
20
student/IT tech
15.5/hr
$260cc
$ 8k tfsa, 2k rrsp
~10k

cum2soon
cum2soon

@farquit
selling bitcoins ever
enjoy being poor

w8t4u
w8t4u

@kizzmybutt
The only people in their early 20's with 6 figures are trust fund babbies (the ones not roleplaying that is)

massdebater
massdebater

@MPmaster
Age
22.
Job
Student pilot.
Debts
Climbing extremely rapidly.
Assets
Being burnt to make avgas.
Net Worth
Depressing.

kizzmybutt
kizzmybutt

@Garbage Can Lid
So you are an FA?

Firespawn
Firespawn

28
machinery technician
$75k
~20K in debt, student loan/car/revolving CC spending
~66k in assets, mostly 401k, IRA, I'm including my car which some people frown upon but that's only ~15k
$46k net worth

Only had this job 2 years but I feel like I could be boosting my net worth more than I am. I'd like to retire early.

BlogWobbles
BlogWobbles

27
Code monkey
83k
0
300k
300k

Got lucky on the stock market.

LuckyDusty
LuckyDusty

@MPmaster
22
Student
No job, full time student
0
about 2.5k in stocks
about 4k

CouchChiller
CouchChiller

Age
40

Job
Data Center Technician

Salary
$68,000 a year. $114,000 with OT and bonuses.

Debts
$195,446.89 mortgage.

Assets
$342,074.86 in property and investments.

Net Worth
$146,627.97

ZeroReborn
ZeroReborn

@Firespawn

I've been spending a lot the last couple months hence the credit card. Pay in full every month regardless though. Mostly I'm buying guns and gun food because we're in for a wild ride.

Was thinking of stopping contributing to my roth IRA and just upping my 401k contribution. Would save me a bit more on taxes, I'm in the 25% bracket and live in NY so I think pre-tax is probably better honestly.

AwesomeTucker
AwesomeTucker

Age
19
Job
Nothing since moving back to school, but I do invest and trade stocks
Salary
$15,000 from the summer, but this whole stock thing has made $31,000 in the last 2 weeks.
Debt
$5500 student loans
Assets
My computer and thats about it
Net worth
$71,000

PurpleCharger
PurpleCharger

@AwesomeTucker

So your computer is worth $76k?

CodeBuns
CodeBuns

@ZeroReborn

Gotta love mint.

BunnyJinx
BunnyJinx

@Deadlyinx
what do you do?

girlDog
girlDog

@PurpleCharger
No, my stocks are worth about $77K, my student debt is $5.5K, and my computer is worth several hundred. I guess I could say all in net worth is about $74K with my savings account as well.

Evil_kitten
Evil_kitten

@MPmaster

Pretty much what the other guy said.i have been shit posting since the 80s and thru EFNet when it was young on IRC. Now my wife essentially trolls ppl IRL and apparently, I've been told I am a Baptist version of Kyle Broflosky's dad from South Park. I haven't seen the episode but apparently he's a mad troll.

Lol Sonny boy, I've been trolling since you were a glimmer in yer daddy's eye. Heh, I'm only 38, i remember when that seemed ancient...

lostmypassword
lostmypassword

@BunnyJinx
Own online store, partial stake in weight loss supplement company and run small investment start up company

What's more important here the quality of the product or the marketing? That's a very difficult niche to get into.

Gigastrength
Gigastrength

@girlDog
No, my stocks are worth about $77K, my student debt is $5.5K, and my computer is worth several hundred. I guess I could say all in net worth is about $74K with my savings account as well.
Damn what stocks?

PackManBrainlure
PackManBrainlure

@TreeEater
What if i have no debt and a guarenteed position lined up?

Stupidasole
Stupidasole

30 y.o.
neet
...
sadpepe.jpg

Illusionz
Illusionz

@BunnyJinx

Buy things for the gov. It's not bad, I get an automatic promotion next year so I'll be making ~$65k and I have a pension, lots of time off, telework, every other Friday off ect ect so it's cash as far as wage keking goes. I'm working on starting a business on the side and manage my investment portfolio too so overall very comfy

Need_TLC
Need_TLC

it's very rare to see anybody on Veeky Forums who earns under 6 figures and have net worth under 500k. the site represents the top 0.1%

Playboyize
Playboyize

@Gigastrength
I hold $THC which is a marijuana grower in Canada and $AFI which makes the vertical grow technology used in THC's operation. They are both skyrocketing, and will continue to do so. Made $31K in the last two weeks.

SniperGod
SniperGod

@SniperWish
How'd you get to being a business analyst?

RavySnake
RavySnake

age - 28
job - code monkey
salary - 120k
debts - 12k
assets - 100k
net worth - 88k

trying to actually invest some of my money and time. ive been working for years at a high salary and have spent most of it and lived in an expensive city. i barely own anything. im an idiot

WebTool
WebTool

@Playboyize
I hold $THC which is a marijuana grower in Canada and $AFI which makes the vertical grow technology used in THC's operation. They are both skyrocketing, and will continue to do so. Made $31K in the last two weeks.
Fug last year I was thinking about Canadian mmj industry and decided against it. (Figured I'd fuck it up/ didn't want to spend time researching).

AwesomeTucker
AwesomeTucker

@WebTool
Now is the time to start. Go all in on $THC. You will AT LEAST double you money buy January. Probably 30% in the next two weeks since they will be getting their sales license, and the first sales crop will be coming out two months after that. Shortly followed by legalization a couple months later. You will make a ton of money, and it is never to late to start.

Fuzzy_Logic
Fuzzy_Logic

@Playboyize
You fell for SH board spammer's AFI meme? Come on dude.

Spazyfool
Spazyfool

@Carnalpleasure
How did you get started in your consulting business, and how did you find your niche for importing? Sounds amazing. I'd love to be living that life at 21.

Dreamworx
Dreamworx

@AwesomeTucker
19
net worth $71k

This is what I'm talking about, now I feel inadequate.

Crazy_Nice
Crazy_Nice

@Dreamworx
I've been working all my life though. Started saving with a paper route when I was 11, got a part time job at 16 paying $16 an hour, and two part time summer jobs this year at $19 and $25 an hour. Wasn't easy, but working as much as possible, saving like mad, and doing some research for investing can really pay off. Plus, its never really to late to start considering theres some great stocks to invest in right now.

King_Martha
King_Martha

@Fuzzy_Logic
Say what you like, but I made $5k from AFI on Friday, meme or not.

girlDog
girlDog

@AwesomeTucker
Thx user, not sure if meming me, but I'll look into it. A whole bunch of states will probably legalize soon as well, mine included, would be neat to get in on the ground of that somehow.

farquit
farquit

@girlDog
Not meming, dead serious. Current price targets are $1.00 for $THC one sales license comis through within the next two weeks.

takes2long
takes2long

@Crazy_Nice
When and how'd you start on investing? I wish I started earlier but now it's too late. I'm too busy studying in college and too poor to do anything. I wish I could restart my life knowing what I know now.

hairygrape
hairygrape

@takes2long
I just started this year mid July. Started with a diversified portfolio, but after two weeks decided I liked playing for fast money and the only way to do this was on marijuana stocks. The good thing about Canadian marijuana stocks is that you can trade them to make some quick cash during the day, but if you make a mistake and buy at the peak, you wont be caught bag holding for long as the whole industry is on the up and up. I have a TD web broker account which i haven't had any problems with so far. Hopefully that answers your questions.

Methnerd
Methnerd

@hairygrape
I just started this year mid July
So not even full 3 months.......did you have any prior experience with stocks and stuff? I mean reading stuff like this @King_Martha
is just mind boggling to me, I made 5k working this summer, you made it in 1 evening. LIke fuck dude.

TurtleCat
TurtleCat

@kizzmybutt
No. investment advising only. FAs also do credit, estate planning, etc

StonedTime
StonedTime

@Illusionz
recording at historic value
?:(

BinaryMan
BinaryMan

@Methnerd
Ya it hasn't really been that long. No, prior to starting in July, I had no prior experience. I did do a lot of research, but that was only for about a week before I started (while I was waiting for my account to be opened). I know, this summer after busting my ass, I only made after taxes about $15k over 4 months, and this Friday in total, I made $12k (the 5k mentioned earlier was just from one of my stocks). Don't waste your time reading all these shilled meme "rich dad poor dad" books, since they're going to tell you to invest for the long term, when really we can take big risks wince were young (plus everyone who's young wants to make as much money as possible).

Nojokur
Nojokur

@Spazyfool
I started at 15 with $200 importing random niche products from china like laser pointers, niche musical instrument accessories, found a supplier that I could trust with high volumes(most important part is finding a supplier that you can trust without needing to watch over them), reinvested almost all of the earnings for a long while(gave myself minimum wage on the off chance that it all crashed, it wouldn't have been for nothing). The consulting is totally unrelated. I use fulfillment services and two employees so I don't actually do much anymore. I just find the products and use particular suppliers and work maybe 10 hours per week. my mothers do some major work and I pay them for it. It's as close to passive income as I've been able to get. $1,000 per day take-home has been a goal of mine.

this is how it works
research products until i find niche that is popular but has little competition(lots of number crunching and clarifying)
find the best supplier for niche
use FBA and never keep products for more than one month

My mothers are the ones who actually keep in touch and hold the relations with suppliers and customers. I don't do anything anymore. The research and business discussion with my mothers to keep them up to speed on what I'm doing is my 10 hours per week. Anyone can do this. Finding the perfect product, and the perfect supplier, is the only work you really need to do at all. I would never work as an employee with some college degree. I realize more and more how sheepish it is and how most people are suckers, this is if they're trying to make as much money as possible, keep in mind.

Spazyfool
Spazyfool

@MPmaster
Age
45
Job
Manager of web devel
Salary
$145k/yr
Debnts
~$270k
Assets
~$650k
Net Worth
~$380k

Need_TLC
Need_TLC

@BinaryMan
since they're going to tell you to invest for the long term
On that note I was talking about the same thing on reddit (I know, I know) and they suggested me reading this book called next door millionaire or something like that and essentially it spouts the same invest long term bs. Do not buy stuff, save and be frugal so you can one day have $1mil in your bank account. I just read the summary but it was full of stuff like "people with money usually don't drive nice cars", I mean I want to buy a nice car, what's the point of having money if I have to live like I'm poor to get an illusion that I'm rich by having lots of money in my bank account.

Nude_Bikergirl
Nude_Bikergirl

@SomethingNew
Everyone here is lying.

Garbage Can Lid
Garbage Can Lid

@Need_TLC
nice car
That's relative. What are you calling nice?

Booteefool
Booteefool

i'm so in student debt i feel like future net wealth accumulation has been squandered or at the very least, drastically delayed

i was 18, why did they give me a loan?

Lord_Tryzalot
Lord_Tryzalot

24
engineer
55k
105k
-65k

not sure if i can survive

King_Martha
King_Martha

@Need_TLC
I found the exact same thing. All of those books are the same shit with investing and having a million by the time your 90. Any retard with access to an index fund could do that. I would suggest r/wallstreetbets for some better due diligence, though you may end up having to sort through some awful advice while trying to find some good tips. I wish there was a chat for people that are young and want to invest in stocks (I say young, but I mean people willing to take on more risk, with not a ton of money, who are looking to make a ton of money). I want the same thing as you (nice car, motorcycle, and watch), and that's what I try to keep in mind while doing work.

girlDog
girlDog

@Lord_Tryzalot
student debt?

farquit
farquit

@Booteefool
How much damage?

SomethingNew
SomethingNew

@Illusionz
If he owns his house free and clear, then continues to live simply & rent-free in retirement, it's not impossible he'd pay no/little taxes on the 401k withdrawals.

Of course there's no reason to get so autistic about it. I mean if we're talking net worth is only what you'd get for fireselling every asset this very second, that knocks 10% off the housing price and commission fees off brokerage accounts etc. etc.

5mileys
5mileys

@Nojokur
Sounds like a great business you have, especially how automated you managed to get it. I'm sure you'll be able to automate it even more in the future, or at least expand while keeping the same amount of automation.

I've always wondered about when you say you research a product in a niche, I understand the part about researching the product in a niche, but how do you find it initially? It's probably like like when I explained some stocks to my friends and they asked how I found out about the companies and I had to say that I researched (and listed a couple forums and stuff) that they could try their luck with. Is it the same for you? Thanks for sharing. By the way, 1000 a day it a goal I was thinking about as well. Worked out this month, but unfortunately my stock trading is most likely not sustainable.

Bidwell
Bidwell

@Booteefool
Keep in mind that you can make more money investing your money than paying down your student debt (hear me out). Of course make your debt payments, but it might be more beneficial to be investing your money while paying little on your student debt because you can make more percent points on your investments than the % of interest on your loan.

lostmypassword
lostmypassword

@girlDog
Yep, they got me.

Worth it though.

Methnerd
Methnerd

@Bidwell
He would have to invest correctly. To invest correctly and actually make money you need to do actual work or have some sort of an advantage that may or may not be illegal according to current insider trading laws that may or may not exist arbitrarily

PackManBrainlure
PackManBrainlure

@Garbage Can Lid
That's relative. What are you calling nice?
I certainly don't want to drive a half a decade old reliable sedan so I can be "rich". Realistically speaking chances are I will never be able to drop $250k or something on a car, but I'd love to have something that's recent and worht in the $85 to $110k range. So nicer than average but not too nice. Of course I'd love to race around in supercars and luxury SUVs worth half a million, but I don't see it happening.

@King_Martha
I would suggest r/wallstreetbets for some better due diligence
Ah okay, so you're one of them. I think my issue is I'm too scared to make any moves. When you say you "did do a lot of research" do you refer to learning the technicalities of how everything works and relates or researching companies and their potential. I'm kind of scared to trade when I don't 100% understand what something is and how it works.

Emberfire
Emberfire

@Methnerd
Do I take it that you may or may not have insider information that you feel you would be arbitrarily prosecuted for acting upon? Also, it isn't that much work to invest properly, though yes there is work involved.

RavySnake
RavySnake

@ZeroReborn
If you're in a high tax situation and/or planning to retire early, lean towards pretax 401k/IRA instead of Roths.

The exception is if you need the extra tax advantaged space. 5500 in a Roth IRA beats 5500 in a normal one + tax difference in a taxable.

WebTool
WebTool

@PackManBrainlure
... I'd love to have something that's recent and worht in the $85 to $110k range.

That's not nice, that's ostentatious.

ZeroReborn
ZeroReborn

@Need_TLC
Not just Veeky Forums, this is Veeky Forums. People who shitpost about business. For fun.

Talk about a skewed sample.

eGremlin
eGremlin

Age
28
Job
Power Plant Fuel Handler
Salary
$37k/yr
Assets
~$30k
Net Worth
~$30k

FastChef
FastChef

@Emberfire
I do not have insider information and if I did I wouldn't tell you to invest in Micron. Professional investors spend 8 hours a day modeling and analyzing the market so how can we expect to properly invest as normies?

BunnyJinx
BunnyJinx

@MPmaster
Age
24
Job
investment banking
Sallary
~$150k
Debnts
$0
Assets
~$150k
Net Worth
~$150k

GoogleCat
GoogleCat

@Carnalpleasure
Goddamn. I am a freshman in college doin engineering for job security. been here 4 weeks and know that 9-5 life ain't for me. Would it be better to continue education in entrepenurial business or just start right off the bat.

StrangeWizard
StrangeWizard

@PackManBrainlure
Ah okay, so you're one of them
I've never actually traded a stock I found out about on wallstretbets, nor have I ever bought or sold options. I go on there for entertainment, but sometimes people do a great write up about a company, and those same principles of analysis can be applied to other companies you might want to research. When I say, "research" I mean that I read about the company, their products, and what makes them unique/their advantage in the market. Also, look for future catalysts (example: they have a sales license that historically is given to companies 6 months after they apply, since they applied 5 months ago, it should be coming soon). This will help you make better decisions on what company is a good buy, and what companies are overvalued (I'm strictly dealing with small cap stocks here, in a sector I have researched).

Ignoramus
Ignoramus

@WebTool
Well excuse me, why don't you describe me what's a nice car? I'd love to drive a car worth millions but the chance of that happening is 0. Also I want comfort along with everything, I don't give a shit to drive some sleeper from the 80s that looks like it's worth a couple hundred dollars.

Stupidasole
Stupidasole

@GoogleCat

running your own business is a 24 hour job

Spazyfool
Spazyfool

@FastChef
Micron
Just as a thought experiment, what would make their stock go up so drastically? I know say a factory fire, or a CEO scandal would make it plummet (these are all imaginary situations of course), so what sort of imaginary situation would make it go up?

Fried_Sushi
Fried_Sushi

@Stupidasole
true but the idea is to grow it big enough you can pay some other sucker to run it.

Garbage Can Lid
Garbage Can Lid

@Sharpcharm
I SEO too

Lord_Tryzalot
Lord_Tryzalot

@Spazyfool
In general, maybe user crunches numbers or does sales work for the company and they're going to announce very strong Q3 results.
Maybe he works I-banking and there's a buyout/merger coming.
More in biotech, but maybe new chip designs too, good test results can send stocks spiking.

Of course even though insider trading is a huuuge grey area, you don't want to get the SEC on your ass by buying short dated out of the money call options.

MPmaster
MPmaster

@Spazyfool
+EPS

iluvmen
iluvmen

@GoogleCat
@Stupidasole
To give a bit more for insight, my family has a tree nursery that does well, and is established, but I have the standard, "I wanna get outta my podunk town" mentality so I figured I'd get some stem degree, eventually computer science or something, and get a job somewhere. I know how my family works, and it's fuckin rough, but if I were to go into the family business, it'd be to get it to the point where the work I do isn't the same bonecrushing 65 hour work weeks my father and his brothers do.

Inmate
Inmate

@Ignoramus
A brand new Honda Accord will keep you under $30k, get you where you're going, and be dependable as fuck.

TreeEater
TreeEater

@MPmaster
21
Mathematics and Economics student
no job
2K cash and 4K in Memehood
22K student loan debt

Should be able to graduate w/ 22K student loan debt, and maybe 10-15K assets

PackManBrainlure
PackManBrainlure

@Inmate
Honda Accord
0 prestige. My sister (still in HS!) has a 2010 accord. Don't tell me that you should be driving the same car a high school teen drives. There's nothing nice about that.

SniperWish
SniperWish

@iluvmen

You probably won't work less than a 40 hour work week in a demanding career like engineering (I also majored in engineering, none of my friends work 40 hour weeks) - especially not if you advance and you have further responsibilities.

Maybe you should approach it with a different mindset. Work sucks but it isn't the end of your life. Don't let this board fuck with your head.

FastChef
FastChef

@SniperWish
What do you do now or are you still in engineering?

Need_TLC
Need_TLC

@FastChef

I'm @BunnyJinx

I was hired on at an investment bank soon after I graduated. I've spent a few nights at work wondering what the fuck I was doing here

Inmate
Inmate

@Need_TLC
How do you go from engineering to investments straight out of college? What position are you tehere?

Sharpcharm
Sharpcharm

@DeathDog
Then you would be operating at with negative net working capital bud.
You have no idea what you're talkingabout.

Working capital is current assets minus current liabilities. "Current" being liquid/due within a year. A house and mortgage are neither of these.

The liability of the mortgage will always be more than the value of the house (inc. property) as the mortgage is the net asset value of the house at the time of purchase with the addition of interest (which may or may not be adjusted throughout the term of the loan).
Also wrong. You have no idea what amount the mortgage is and what the value of the home is. It's fully possible, and often typically the case that the home value is greater than the mortgage.

For the majority of Americans, the home is more of a liability than an asset.
This is "liability" in a colloquial sense, not an accounting sense.

You are wrong on most every account here.

Supergrass
Supergrass

@AwesomeTucker

Hours are quite tolerable, <60 for sure. Nothing like 80 in my group. If I was doing 80's I'd expect a 75-100% bonus, not 10-15%.

The commute is rough, since I don't live in the city. The secret is to find a hobby or useful activity you can do on bus/train/subway. I bought a nice tablet so I can do get my /co/ and /lit/ reading on. If I ever want to watch some TV series I could do that too I guess.

Fried_Sushi
Fried_Sushi

@Need_TLC

Which bank? I'm at GS right now, have a few buds in I-banking and MBD groups. If you are in NYC, I'll take you to grab a beer sometime.

Stark_Naked
Stark_Naked

@CouchChiller
What's it like working in the data center? Might be getting a job a a grunt install tech. I have a BS in IT.

Seeing what career paths there are in one

Raving_Cute
Raving_Cute

31
Jobless for a year
0
5023
0
-5023

Should I end my life lol

Lunatick
Lunatick

21
i'm an engineering student but interning full time at a power company, making $18 an hour
i go to a stupid expensive school but most of my tuition is being paid by my grandparents so right now i'm only $25k under

i'm thinking of dropping out of school if i get a serious offer from my employer

otherwise i got ~$5k in accounts, CDs and bonds (gifts) and things
like $500 to fuck around with in robinhood while i learn how markets work
i'm betting on my grandparents leaving their $500k suburban home solely to me so i've got that going for me

that said, my personal capital tells me my worth is ~$500k because i'm betting on my grandparent's home lmao

Skullbone
Skullbone

@MPmaster
18
student
0
0
12000
12000

Flameblow
Flameblow

@Emberfire
Work with any other types if engineers? How do you like your work? What is your daily work routine?

5mileys
5mileys

Age
24
Job
Driver non cdl
Sallary
24k-28k
Debnts
0
Assets
10k
Net Worth
Just end my life already

Gigastrength
Gigastrength

@Lunatick
Are you me in 3 years?

TalkBomber
TalkBomber

@Illusionz
What job is this called and how can I get in?

RumChicken
RumChicken

@TalkBomber
Not him, but that's probably a purchasing agent.

you can get into it by working for the gov, memorizing 5 billion pages of Federal Acquisition Regulation and then seeking certification to do it. You'll probably need a bachelors degree and a cushy supervisory position to make it. Perhaps some experience as a Contracting Officer or at least a COR.

VisualMaster
VisualMaster

25
NEET
$0.00
$0.00
Nothing technically. Realistically, ~$150,000 worth of real estate (that my parents currently own), and like $25,000 in a college fund
Probably somewhere around $zero

God I fucked up the last 6 years of my life

massdebater
massdebater

@MPmaster
21
Bookseller
$23-$27/hr, casual with full time hours
$30k(?) in student debt
$1600 in stocks
comfy $0, living week by week

Sharpcharm
Sharpcharm

@CodeBuns
What is this app

Emberburn
Emberburn

@Supergrass

t. future alimony payer

Firespawn
Firespawn

@Gigastrength
yes

don't date that cambodian bitch

she's fucking nuts and will harass your next girlfriend

TalkBomber
TalkBomber

@Sharpcharm
looks like Mint

WebTool
WebTool

@MPmaster
Age
19
Job
"""Student"""
Sallary
$0
Debnts
None
Assets
None
Net Worth
$3k

LuckyDusty
LuckyDusty

@MPmaster
23
Client relationship manager
84k
0
Flat, 150k portoflio, 50k in cd
round 500k

Burnblaze
Burnblaze

32
IT sysadmin
85k (aud)
$0
$20k in ETF's, $10k in savings, $8k car. Saving to buy a house, not too far off doing that
Dunno

ZeroReborn
ZeroReborn

29
Peoplesoft Business Analyst
$50k but interviewing for two higher paying jobs
None but renting and planning on buying a house within the year
$91k retirement, $6k checking acct
$97k

Can't wait to get above the $100k mark

JunkTop
JunkTop

Age
26
Job
Project Manager (work for a energy supplier firm in the UK (FTSE100))
Sallary
£36k
Debnts
Noone
Assets
£10k in savings
£3k invested (money I'm using to learn how to invest)
Net Worth
Not sure how to quantify this.

Harmless_Venom
Harmless_Venom

@MPmaster
I'll try to fill this to motivate me

Age
27
Job
unemployed
Salary
0
Debts
I gave my mother my student loan (~$4k) and she's still paying it
- dunno how much left, but she's paying the minimum, so I guess a lot
Assets
A $1k gaming laptop, a good camera and a 10 years old family car that's on my name because of taxes
Net Worth
??

How to 'grow the fuck up'?

viagrandad
viagrandad

@SomethingNew
This thread would be a lot more realistic if these liars posted printscreens of their bank balances. I just can't believe all these 20 year olds are making this sort of money. Remember friendo, common sense is not so common.

BlogWobbles
BlogWobbles

@MPmaster
22
Student
0 atm
0
2-3k physical
around 130k
Thanks Bitcoin

cum2soon
cum2soon

@MPmaster
Age
30
Job
Self employed lanscaper
Sallary
About $90k
Debnts
About $14k including biz denbts
Assets
Own some vehicles and equipment, some cash.
Net Worth
Maybe 70 grand. Saving for a house but the market here is fucking crazy. House goes on the market, it's sold within the hour for well above asking price. FML

Techpill
Techpill

Age
23
Job
Student, Graduate offer for Investment Management firm for next year
Salary
0 (£40k+0-20% bonus starting next September)
Debts
£36k in student debt
Assets
£2k
Net Worth
£5k

hairygrape
hairygrape

Age
21
Job
Student workung half time in a bank
Sallary
1100€ a month
Debts
my iPad i got this weekend (400€) and my bike (ATM 1500€ to pay left)
Assets
A 8k€ BMW and a 100k € flat I inherited, also got 2 krugerrands in my bank deposit
Net Worth
10k€

Playboyize
Playboyize

21
Economics student (4th and final year)
$0
No debts
20k in low risk investments, 2.5k in a brokerage account, 2.5k in a chequeing account
25k in assets

SniperGod
SniperGod

@PackManBrainlure
High schooler? Not unless her parents bought it. All i'm saying is that more than $30k is a waste. Prestige is bullshit unless you're already rich.

Dreamworx
Dreamworx

Age
19 this week
Job
lifeguard
Sallary
2.5k/summer
Debnts
none, parents pay for college
Assets
$200 (robinhood stocks)
Net Worth
3k

Stark_Naked
Stark_Naked

@Dreamworx
oh also i'm a student in college

Lunatick
Lunatick

@Inmate

I'm an analyst there. I build financial models for the upstream oil and gas industry and do mergers, acquisitions, and divestitures. Turns out they need a lot more engineering insight than the regular finance guy can provide - at least for my role.

@Fried_Sushi

I would totally take you up on that offer, but I'm based in Houston working for a non-US bank (not many people do what I do, so I'm trying to remain semi-anonymous, let me know if you want to linkedin or something so I know you wont murder me). Our M&A deals are in the $300MM - $1.5B range, however. How's Goldman?

Crazy_Nice
Crazy_Nice

Age
20

Job
Gender Studies major

Salary
$0

Debts
around $100k in student loans

Assets
My $2000 macbook pro

Net worth
idk lol

LuckyDusty
LuckyDusty

25
UPS Driver
$90,000
$0
n/a
$140,000

ZeroReborn
ZeroReborn

Age - 23
Job - currently looking
Sallary - 0
Debnts - $15,000 loan
Assets - ~$500
Net Worth - -$14500

Why, WHY did I finish a BS ini Geology. Fuck me in the ass daddy!!!!

Stark_Naked
Stark_Naked

@MPmaster
Age
25
Job
music producer
Sallary
around €40k
Debnts
might buy flat soon, currently €0
Assets
€85k car, fair sized portfolio, see below
Net Worth
around €1.5mil. has nothing to do with my job or accomplishments, just lucky asshat

farquit
farquit

@Burnblaze
hey are u still online?
im currently getting my cdl class a what do u think is the best route to go

Evilember
Evilember

@ZeroReborn
Get a job in the oil industry. They hire all the geologists.

New_Cliche
New_Cliche

@TalkBomber

Contact specialist but there are dozens as equally or more comfy jobs. Just have any degree and apply. It takes for fucking ever to get a job tho so start now

Skullbone
Skullbone

age 18
Job parts store/ renter
Salary $32000
Debnts $53,000
Assests two duplexes valued at about $58,000 a peace two cars and pure breed dog worth $400
Net worth idk I didn't go to college

Emberfire
Emberfire

@Skullbone
all that at 18

woo mommy and daddy

BlogWobbles
BlogWobbles

19
Hedge Fund Manager
+$500,000
$50,000
$42,000,000
50,000,000

DeathDog
DeathDog

@MPmaster

Age
20
Job
eCommerce entrepreneur
Sallary
More than 10 USD a year, earn about $26 an hour.
Debnts
None
Assets
$40,000+
Net Worth
IUnno my dood

Supergrass
Supergrass

@MPmaster
Age
18
Job
Journalist
Sallary
22K/yr
Debnts
0
Assets
$33k cash and investments
Net Worth
$40k counting my anime figs ;3

Sir_Gallonhead
Sir_Gallonhead

@Carnalpleasure
Can you explain more in depth of what your business does specifically?

Spamalot
Spamalot

@PackManBrainlure
You got a Skype or something bro? I'm not trying to annoy you I'm just interested in starting my own businesses but unsure of how to actually do that. 19 with no debt but not alot in savings either. Work for 10.35/hr 11.25 on weekends. What should I do starting now?

viagrandad
viagrandad

@New_Cliche
FUCK meant to say contract specialist fuck me

SomethingNew
SomethingNew

@MPmaster
Age
35
Job
Senior IT Consultant
Salary
~99k per year
Debits
0
Assets
17 year old car (maybe ~2.5k in value. It's pretty beat up.), approximately 5-10k worth of furniture and artwork
Net Worth
~150k (~75k in 401k and about ~75k in cash and stocks)

SniperWish
SniperWish

@AwesomeTucker
How many shares do you hold?

FastChef
FastChef

@girlDog
Besides your debnts I'm jelly of your position in life. Got any tips for employment at Goldman, especially internships?
throwaway: [email protected]

Lord_Tryzalot
Lord_Tryzalot

@MPmaster
23
Unemployed, but looking and furthering education.
I made roughly 65 bucks the last 3 days with trading RH
No debts or bills. Live at home
I have music equipment and firearms as assets
Net worth ~$700

I've been fucking with the stock market while I'm unemployed. Makes me a little bit of money, but I obviously need to put more in my trading account to get worthwhile returns.

SniperGod
SniperGod

@MPmaster
Age:44
Job:Chef at Wendy's
Salary:9.00 per hour
Debt: 0
Assets: 500k
Net Worth: 2.8 million

JunkTop
JunkTop

@Supergrass
Do you have your properties under an LLC?

Spazyfool
Spazyfool

@MPmaster
30
ex-sys-admin, graduating civil engineer in 3 months
0
50k
4k
-46k

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