Multiple posters every day ask the same questions

>Multiple posters every day ask the same questions
>Is there a problem here?
THERE. IS. NO. STICKY.

If you really want this problem to stop then we need to spam the entire board with a million threads every day asking for a sticky until someone caves to give what we have been asking for from day 1. We need to beat the shitposters, NEETposters, and cryptoposters at their own game. Only a collaborative effort will make this happen but lets be honest, most people on this board don't give 2 shits about a sticky they just want a magic money maker that lets them be a NEET all day long.

Two online resources I would suggest: the Khan Academy course "Finance and capital markets" and the Open Yale course "Financial Markets (2011)" taught by Robert Schiller. The former is a high-school level course that covers all the basic concepts in an extremely digestible format. The latter is a university-level course taught by a highly respected economics professor. They're both very interesting.

You're right to be wary of financial advice. A lot of people are out to screw others over, and still more give well-meaning advice that is tainted by their own goals and circumstances.

For the particular example your cousin gave, the math is fairly simple. An investment of 20k with an interest rate of 7% will grow over 1 year to 20,000 * 1.07 = 21,400. An investment of 20k with an interest rate of 7% will grow over 2 years to 20,000 * 1.07 * 1.07 = 20,000 * (1.07 ^ 2) = 22,898. An investment of 20k with an interest rate of 7% will grow over 20 years to 20,000 * (1.07 ^ 20) = 77,393.69. 20k a year for 20 years with an interest rate of 7% is a little more complex - it's the sum of a series. The first year's investment will grow for 20 years, the next for 19 years, the next for 18 years, etc. and you add all these together to find out what your total is. Doing this on paper can be illuminating in that it allows you to see exactly how investments grow over time. Compounding annually, I ended up at a figure of 897,303.54 which is very close to what the calculator you linked produces when you don't input an interest rate variance. It's likely your cousin entered a variance to arrive at the $9.8m number - I'd ask him about it.

sounds like a 2017 goal

Everyone was pushing for a sticky hard but it never got anywhere. Even a separate site with the information didn't last.

Honestly, it's a sad case. But really, there are very few people that come here that actually have any sort of financial anything going on, so there's no point in sticking around for good advice.

Thank you user. While I thought the math was right I was cautious about some of the details such as if expecting an interest rate of 7% for 20 years was actually realistic or if I would be more likely to end up with interest rates at 3%. Either way, I'll begin with the Khan Academy and watch the Yale course at once so again, thank you.

7% is a historically average rate of return for a mixed portfolio. However, inflation has historically averaged around 3%, meaning that the real rate of return has been closer to 4%. I think a lot of people don't account for that, and it's not incorporated into many calculators that I've seen.

These are decent sources for learning about the mechanics and minutia of financial markets. But it's not where I would start as an individual investor who just wants to learn the basics about stock investing and growing wealth.

If you want to learn how to actually invest for your needs and goals, I suggest you start with:

bogleheads.org/wiki/Getting_started

and

bogleheads.org/wiki/Bogleheads®_investment_philosophy

Read those pages and watch the short videos (2-3 mins each).

If the information sounds reasonable and intelligent to you, then you can go on to the more detailed articles on the bogleheads wiki, such as:

bogleheads.org/wiki/Importance_of_saving_early
bogleheads.org/wiki/Asset_allocation
bogleheads.org/wiki/Indexing
bogleheads.org/wiki/Lazy_portfolios

As others have said, there is a LOT of bad advice on this board. But there are reasonable people giving reasonable advice too. You just have to wade through a lot of bullshit to find it.

>nocoiners on suicide watch episode 143146
>if a country is poor, why not just print more money?
>guaranteed minimum income: fight
>I'm 12 and I just heard about communism, here's my blog on why it's better than capitalism
>hey guys I had a great idea, basically it's buying low and selling high, am I a genius? Original idea do not steel
>I just inherited [fictitious amount] of money how should I spend it lolol
>how to get babbys first job, the thread
>wagecucks suck, the thread
>NEETs roleplay being Patrick Bateman, the thread
>eBay sellers posting stupid customer stories (I actually love these threads)
>well Veeky Forums, this is as good a place as any to ask. How do I get hot bitches to have sex with me?
>I have 12 cents and need to be a millionaire by next week how can I do this pls respond
>please list the 20 essential Veeky Forums books, none of which most of Veeky Forums has actually read
>/pol/ shit
>the two freaks who unironically buy physical precious metals parade around while everyone else points and laughs

Veeky Forums, ladies and gentlemen

I wish SIR from Veeky Forums would make a Veeky Forums new year comic of all that shit.

You forgot the
>rate my resume
threads, where people spend more time debating the font and spacing than the content.

for serious posters, what are good boards/forums to see some real discussion?

thank you. will be reading all these links tonight
happy new years to you sir

see . /r/personalfinance is reasonable as well.

With $70 bucks the only thing you could even do with that is either get a forex account and either day trade or copy trade. Or get an account at poloniex and trade alt coins. Getting $90 a day on a $400 account is pretty much impossible, unless you are like a savant, or take modaphinil.

Actual person here with plans of starting up my own company soon.

Instead of asking you for your own advice, I simply ask where I can find books for self-teaching myself economics and finance to gain knowledge on the subject.

I know you can't just sit on your ass all day and make money, and crypto currency is a meme, but lend me your knowledge and I will savor it and use it wisely.

Same guy as above

This isn't a problem limited to Veeky Forums. I have been on every single board on Veeky Forums attempting to learn about their culture instead of being one sided and disliking one because "it's degenerate". All boards have reoccurring threads and you can even go look for yourself.

Think your thread is unique? Think again. If you want true discussion, you will need to go to actual places that encourage it such as Physicsfourms, Cell, and many others.

I said some above, but it is usually a bad idea as they can get flooded full of trolls and jackasses from Veeky Forums.

cuz you cant get rich with grandpa investments..

Only few boards I could find with actual discussion:

>Tell me why I shouldn't get into cc fraud
This type of nigga
Sometimes two threads at a time

/g/ has a wiki on the install Gentoo site. We should make a wiki for these FAQs.

Because this board fucking stinks and most posts are fucking trash?

They're too lazy to Google and think critically at themselves so they want others to tell them the truth.

>I started using Acorns 3 months ago and think it's pretty good. Thoughts?

There is no wiki for how to get rich quick or any of the other stupid ideas people spam on here. They are dumb questions that require nothing better than dumb answers

The board needs to develop some good generals, like a book club or a weekly blogposting/adviceasking thread about how your business is going.

1) your girlfriend's earning power is not part of your financial plan. She could leave you at any second

2) Read Accounts Demystified, or How To Read the Financial Pages (by michael brett)

3) read The Intelligent Investor by Graham once you can understand financial documents, it'll prepare you for the psychological discipline and the mentality of investing

4) Read a personal favourite of mine, The Zulu Principle by Jim Slater, to learn more about value and growth investing. This book isn't a tome and so is an easy read, but it is not beginner level.

related, I said this in another thread:
seriously, you fuckers should ask them "what do you know? what are your interests? what have you done in the past?"

People aren't willing to ask questions and learn on their own.

you people should also understand that sometimes people become desperate, that not everyone has a good life, and that terrible shit happens sometimes

you see, most people in the world are poor

based user

Techfag with an econ nerd roommate who is slowly learning here. I'd like to read it, if for no other reason than passive income in general sounds too good to be true.

Would you mind posting it? Thanks.

I have a shit life too, but I wouldn't ask an anonymous waifu image board how to get rich, familial.

So, I can't seem to find it online, it was awhile ago. Someone else was running a biz wiki and I submitted it there. But you may be able to find it by doing more googling. It had a conversion table of principal-to-yearly-income as well as a discussion of how I got to those figures.

But there's not that much to getting passive income, it's not magical. You dump cash into investments and can get throwoff. But the trick of it is to temper your expectations using a reasonable percentage in the investment calculation.

You see, the downside of many PI estimates is that you have to take into account small changes over a long period. For example, let's say you invest 100k that's throwing off 1k per month to make the math easy. Sounds good? Initially yes. But what you don't see immediately is the effect of yearly taxes on that number, how inflation takes its toll, things like that. PI "erodes" very quickly.

This is one of the reasons why I like real estate for PI. Rents are, for the most part, inflation-tracking, which is good and over a long period of time, the debt associated with them goes down, which compensates further for the erosion.

(more...)

So, in the article, I ballpark the realistic, minimum long-term return in PI for a house, assuming that you just buy cash. In real estate, there's two rules of thumb, the 1% rule and the 50% rule. The 1% rule says that your rent should be 1% of the purchase price. The 50% rule says that, at worst, about 50% of your rent goes away to pay for vacancy, insurance, property taxes, and maintenance. So, that means the following:

You buy a home for 100k that rents for 1k per month. Half of that rent goes away, leaving you with 500 per month, or 6500 per year. But, this is PASSIVE income, right? So 10% of gross rents goes to the management company, which is 1200 per year. So, you're left with 5300 per year, call it 5% per year.

Now, we can start to see what net worth you need for income replacement. You can do that math for your own case.

(more...)

great idea
let's make it happen
and by the "us" in "let's", I mean you, because I never come here, but I'd like to from time to time

But, the big game-changer in RE is leverage. In the long-term, having mortgaged properties blows the doors off of any other investment I've seen. You're adding some risk but the gains more than make up for it. But, the caveat (and it's a big one) is that you should NOT plan to real-deal full-on retire with significant leverage. So, by taking up a mortgage to get extra gains, you're committing yourself to the payoff of that home before you make any life-changing moves.

Anyway, that's it, in a nutshell. let me know if you have questions.

yeah, well, poor people (as in every other socio-economic class) can be dumb, too

bump

you can sure
but it is very important to start as early as possible, otherwise yes it becomes as you say, a long time to net a return.

If I started investing at 18 instead of my 30s things would be very different today. This applies to simple passive investing or active investing equally. The net result of people delaying investing is not having enough time to compound and also losing time to actually enjoy it.

>I wrote an article about passive income a couple of years ago
Please upload it somewhere. isn't there a Veeky Forums wiki somewhere? Otherwise just pastebin it pleeease

Great stuff, thanks. Investopedia article on leverage was helpful too. I'm 22 and currently live in the Bay Area, sooner I can quit pissing away money on rent and start putting it toward a house the better. Of course, it will probably have to be in a different part of the country..

>you should NOT plan to real-deal full-on retire with significant leverage

Are you saying that, in order to maximize leverage, your RE purchases should be large enough that you'd need to pay their mortgages off with salary/other income?

So is this the SQT?

Without going into details, I set up my own business and had a very decent "test run" on a smaller scale for 1 year and then another decent year on a larger scale. I'm now halfway into the third year and in that 6 month period I've pretty much had 3 months breaking even and in December 2016 I actually made losses. I'm scared that I may be caught in a downwards spiral and that my business model failed, despite the 2 good years I've had. How long do I try to rescue it before I accept failure?

Alright Veeky Forums, time to plan for a sticky. What are the best things to talk about here?

>Stock market
>Bonds
>IRA and 401k
>Taxes (seems top be neglected very often on this board)
>Small business/start-ups
>Reselling
>Macroeconomics (how the FED can affect your investments, how shifts in world power can, et cetera)

And no, we're not going to get rid of cryptofags and the others. They'll always be here. They were here since the very beginning.
>Cryptocurrencies
>Forex
>Options
>Daytrading
>Penny stocks

Reading this thread and your post specifically made me realize that I don't know a damned thing, that I'm a worthless NEET worth less than 2k USD with very minor (sub 5k college debt), that I'm probably going to end up working a dead end job even with a meme IT degree for the rest of my days, I'll never be able to spend most of every day doing as I please unless I do something retarded (hire a freelancer and somehow put out a killer app, get extremely lucky on some investment or windfall, start a cult and beg for money, do something stranger still) and that I'm a demonstrable failure in every sense of the word and my life isn't worth anything.

Should I bother sticking around, or is all hope lost?

>stocks, bonds and any other financial market details
>national tax systems
>accounting (financial, management etc)
>planning, strategy tactics in business
>economic policies, macroeconomies etc
>one or more generals for cryptofags ?

FOR REAL THIS BOARD NEEDS A FUCKING STICKY

every single god damn interest i've ever had has been supplemented by a Veeky Forums sticky, so I come here today, thinking it's 2017, clearly the anons over at Veeky Forums have a sweet sticky 10 years in the making to keep this board from being autistic

nope .. wtf?

It's 2017 mate, do you really think it's ever going to happen at this point? Is this board even have a fucking mod? Is the mod retarded? Is the mod a woman?

There's only one way to find out, pic related

What I'm saying is that rental homes with a mortgage are too unstable to be counted on for significant income. So plan your retirement day (early or otherwise) around paying the homes off.

just make a sticky

does* also i'm surprised at how unpopular this board is

post cp then we oughta know

i think the mod is just a salty nocoiner that wants to watch as many people as possible suffer

hellooo is anybody out there
mod is just a sad roastie

mod is a cuck probably too busy looking at /gif/ blacked threads

prolle invested in dogecoins after missing out in the original memecoins

mod probably sniffs his fat trap tinder date's butthole cause it smells erotic also probably licks on his hole and sucks on his balls too

btw confirmed no mod, i think there should be 250% more porn on this board now that we know there is no mod

Who was here when this board was made? It wasn't a hive of scum and and idiocy. It was /g/entoomen who came from the Doge general to discuss further P&Ds and other alts like fedoracoin, pandacoin.

It was the glorious cryptsy wall days, #dogecoin, #dogecoin-trade IRC days. It was the great market manipulation that showed who and how were the strings are pulled. Now it's all shills and wannabe pumpers failing their jobs.

Can we make this board great again?

Exactly, I was here when this board was created to offload /g/ and prior to that BTC was trading at a dime a dozen early 2010 before China moved in.

Veeky Forums was still different back then with many newfags, mobile posting was less prevalent.

The NEET culture in /g/ is very strong and I'd agree that this board isn't BTC and financial self-help general, we'd rather have professionals and based investors lurk more.

It's always gonna stay Veeky Forums and you'll always have a heap of randomness, yet too few posters actually chip in the market. Nowadays you get the nouveau riche culture of coiners in a self-fulfilling prophecy, instead of probably diversifying yet again, the same crowd relies heavily on privacy being in the know on anonymity so you won't get traditional biz but rather doomsday promoters.

Like it or not, Cryptofags are the meat and potatoes of Veeky Forums. There's no reason why they can't live side by side with everyone else, it's not like the board is busy enough to push people off.

Meh. The board was full of shit at the beginning too.

>Sell me this pen
>PRAN

But I agree there was more intelligent discussion back then, and a few people who really knew their stuff. That was nice.

Lately, we just have a tsunami of shitposts.

Posts like yours are the reason why it doesn't happen mate.
Wanting something isn't doing something.

>clearly the anons over at Veeky Forums have a sweet sticky 10 years in the making
Veeky Forums isn't even that old.
But I agree with your sentiment.

/thread

We could make a doc where people could come and put together a sticky. Just say the word.

Here's the link for anyone that wants to make that sticky happen.

docs.google.com/document/d/1JpELnGg0dbLUQkFyupIHtyhQyyFIOW26kF6FqURnIV0/edit?usp=drivesdk

It just shows that biz is full of stupid people with no business experience. But the politics has mostly been bled out into pol and with it all of the humor.

I'm always surprised that nobody ever cites rent as a hurdle to free enterprise. Instead, morons who don't have 2 nickels to rub their dick between fret over minimum wage for employees they'll never have.

I'm interested in reading it. Where can I find it?