How are normies so bad with money?

They are bad with money because a lot of risks have been eliminated in society. It used to be that if you were bad with money you would starve to death. But with government benefits and the FDIC most risks have been eliminated. It is the same reason many businesses are bad with money.

Why should anyone buy XBY, shillfag?

First of all, stop fucking going on Reddit

Second of all, they are fucking worse than normies. They are rejected idiots. You don't want normies and you CERTAINLY don't want reddit fuckheads. Read some goddamn books.

A combination of poor discipline and being taught advanced calculus instead of basic finance, in high school.

financialindependence has the smart ones

Research it, has potential to go up.

The situations on /r/personalfinance are cringe worthy and their answers are even more cringe worthy.
>You can't beat the market, so stop investing haha, there's no such thing as a free lunch!

The cocksuckers on there have never even heard of/considered alternative investments and I'm convinced that the majority of them will work till 60+. They low risk, one size fits all advice and act like they aren't sheep.

The middle class mentality they preach is cancer OP, I'd stay far far away from it.

My words of advice: find a small market you can succeed in with low competition and expand. That's the secret of business.

I'll give you an example to help illustrate this OP. My father owns a large custom cabinet manufacturing company in the USA.

When he got started, he made closets & libraries was so good at it, he could offer superior quality & price in the metro area. He was always swamped with work, and grew very quickly once he optimized his production & sales processes.

When 2008 hit, the other companies in the industry couldn't even stay open as people were more cost conscious and reluctant to build homes or replace their cabinets. By 2010 or so, the herd of competitors massively shrunk and things started to pick up. Profits were sky high at this time and he was extremely busy again, he started to expand into other markets, custom kitchens, baths, stairs, bars, basements, etc.. and now the company in one of the largest in the metro area (2M+ population).

The reason a lot of these other companies failed is because they didn't have a competitive advantage. A lot of the time when you start a company you have access to credit, usually when the economy is in a bull market. Lots of companies open to fall under the illusion of short term success, but typically compete in large industries. Think of restaurants, retail stores, transport companies, construction companies, etc.. These types of companies offer the highest
(1/2)

(2/2) returns, but also have the highest capital costs. Inexperienced businessmen & entrepreneurs are incited to get in on the action with these industries are hot. Little do they know they are taking massive risks in extremely competitive commodity good/service industries. They have 0 differentiation/competitive advantage and will not stand the test of time.

Sorry for the wall of text but....

TL;DR: Hone your skills, find a small market to address before you play with the big boys who will crush you in tough/neutral markets.

> I'm not retarded enough to be one of them, but not autistic enough to buy Crypto, is there a place for me somewhere?
Your best bet is look for a specific field and find were professionals are discussing it. For instance you could search were institutional traders are discussing commodities.

i just go there for schadenfreude faps, its basically gore porn

This is pretty accurate. Being a business owner is pretty good money if you aren't retarded. Restaurants are the absolute worst. I know several people who have started them and they had no business being in that business. I personally started a business and survived the toughest early years while building a good rep. Now I could realistically coast the rest of my life making 80-100k a year with 35 hour weeks on barely a jighschool degree. Good money for my area.

As far as reddt goes, yeah I try to stay away from their. No one actually wants the truth. Go to /amiugly and say they're ugly, and guess what? They get pissed. I know "go back to reddt" is a bit of a meme, but god damm, they need to fucking stay there. God forbid you actually have an opinion on that site.

t. retarded phone poster

His name was Robert Paulson

What's your biz if you don't mind me asking? How'd you get it going?

Any recommendations for a young guy looking to start his stuff?

Just buy POSW and wait like a month

Can I buy with credit

Safety nets, lots of money from family, burned time learning anything but useful stuff in school and in youth, still won't bother learning and just want others to solve their issues

>tfw learned about all this shit at 14 and got involved with investments at 16
w e w

I once knew a beaner who worked at a grocery store and showed up to a house party (early 20somethings mostly) in a brand new chevy impala with expensive rims and blue underglow.

My dad died when I was 20 and my mom is an absolute failure in life so I had no sense of safety growing up in my 20's. I saved every fucking nickle and dime I had and never splurged on large purchases. Been driving the same car since 2007 (purchased USED).

This has enabled me to amass a fortune of 60,000 USD even though I only make 25k-30k a year.

or debit, yes

stop going on that horrendous fucking website. it's a time-sink like Veeky Forums but atleast we don't pretend like we're some superior know it alls.

This. Before I thought reddit got a horrible reputation because of Veeky Forums shitposting. No, it's absolutely true.

Veeky Forums = smart people who act like dumb shits
Reddit = dumb shits who act like smart people

You're both pretty retarded. Not because you're discussing businesses, but because you're too stupid to know the difference between active and passive income.

If your answer to someone asking about investment advice is to "get a job" then you can go fuck yourselves. Those of us who do invest wisely also have jobs. That's why we're going to make it, and you won't.

>reddit
You have to go back there, and stay there, not joking.

Low volt electrical. Learn a trade and just keep improving. I was one of the first in my area to get a fairly difficult cert. Easy jobs after that.
Got to earn money to invest it. Besides, my wife's boss just sold his company for 25 mil of which he gets half. I'm pretty sure that's a decent return on investment (his time). My business would likely sell for upwards 2-3 million in 15-20 years. All the while investing money in other places as well.

If you're going to LARP, there's a board (/qst/) where you'll be accepted. Even if you were an adult and a business owner, you're still a fucking moron for thinking you can predict the value of a business 20 years in the future.

Jesus, this board sometimes....

Low IQ and low Pre-frontal cortex activity, they cannot think long term and set aside their emotional impulses for a better outcome that is not immediate. They are also infatuated with boasting and social status, so they'll make retarded economic decisions like buying a really expensive sports car while getting themselves in debt.
My parents were like that, I fucking hate them so much. We could have been upper class, they could have had their future secured, but the fucked it up.

both parents are like this

>throughout their lives make constant awful finance decisions
>broke before payday, loans, financed cars, borrowing from family (they've both been in debt to me)
>literally exhaust every line of credit given to them at every stage of their lives because muh feels
>still think it's a good idea to eat at restaurants/ book hotel rooms/ play the pokies even though they're broke or in debt

i have almost no respect for either of them

I feel you, Satan. Me and my family could be in such good position if they had only listened. I cannot wait to leave his place forever.

NORMIES DON'T BUY THE FUCKIN DIP

BUY THE DIP YOU KEKS

FIND AN ASSET WHEN THE PRICE GOES DOWN AND FUCKING PILE IN

B
U
Y

T
H
E

D
I
P

FUCK NORMIES AND BUY THE FUGGIN DIP

Normies want social status over anything. They need it like oxygen. Sports car -> social status, college -> social status, apple trsh -> social status

youtube.com/watch?v=NMzJ0HGgxXM

Gives some artistic credit to /pol/ for thinking Celebrities and politicians are all reptilians. How beautiful.

This.
Forums are ok to be on track of current shit.
But don't expect any major fundamental knowledge from em

/r/personalfinance is like a board that read Richest Man in Babylon and follow it like a bible.

They think squirrelling away a meagre 10-20% a year, living frugally and wageslaving for 30 years is the best thing to do.

Not a scrap of ambition in there at all.

>my business would likely sell for upwards 2-3 million in 15-20 years.

The sad fact is, you think this is even remotely impressive, which makes me think you might still be a teenager, or someone in their early 20s

You should be aiming to do that in under 5 years

2-3 million in 20 years. Take away 50% for taxes and fees. Wow, you have 1.5 million, in 20 years when it's going to be worth 3/4 of that, at best.

Your wife's boss sold his for 25 mil, and your ambition is a mediocre 2-3 million pre-tax after 15-20 years of wageslavery.

Seriously, learn how to scale your business. Only people on reddit are happy being wagecucks into their 50s.

Veeky Forums is dumb shits outside of biz

>my mom won't pay for the college I want to go
> I make 120k/year

AKA Buy low, sell high.

PLEASE DON'T YOU NORMIE REEEEEE>

NEVER EVER take anything that even resembles a loan. "Leverage" is for the weak and impatient.

I shill for post too but don't take advantage of people like that. there's still risk.

I like you a lot, please be my friend.

>tfw only make 30k a year
>always invest money, learning new skills, don't buy worthless garbage
>always have 5k in savings and 1k in checking
>no debt
>somehow have a higher net worth than people who make 100k+ or more on Plebbit

Yeah OP, normies are pretty bad with money. It actually doesn't matter how much you make as long as you know how to make your money go as far as possible and work for you. What normies fail at is using their extra income to make more money and instead waste their opportunities on bullshit that doesn't help them become financially independent.

>That's the secret of business.
BARELY

This. They only care about social status and feels. As long as they feel smart and people agree with them, that's all the matters.

IM UNGREATFUL ASF, I RETRACT THAT STATEMENT

True, but don't let it get to your head.

>but don't let it get to your head

Is that even possible around here? If an user starts to act like an uppity fuck, other anons will berate them across the boards until they come back down to the fag level they belong to. It's for the best.

True, you get what you came for I guess.

>mfw my savings rate is 60% of my income
>looking to make that 90% when I have a job that pays more than peanuts

10% is a joke. Wageslavery is death.

Reddaitors are worse than normies; they're the scums and degenerates of the Internet.

r/pf is garbage for absolute plebs
all of the useful info is in the sidebar, and most of it is contained in the form of hyperlinks to the boglehead wiki

the threads in there are made by idiots
and you're right, their normie attitude towards everything is pathetic

>muh happiness has no price meme
>muh travel is God's gift to man meme
>muh I deserve better pay as a 24 year old programmer out of college "because I do so much" meme

Check'd and Kek'd

u mean 'debt' is for the weak/impatient

leverage is for winners

Heres a r/pf thread on 'short stocking'

reddit.com/r/personalfinance/comments/68q8ow/short_stocking_to_take_advantage_of_social_media/

if u want to nut

>666
Impressive, very nice

>how are normies so bad with money?
Their sense of self-worth is entangled with their financial health, consequently they are afraid to discuss it until problems get really bad. Plus what you noticed about reddit, only ideas simple enough to be understood by everyone get any traction. It's inevitable when you hold a popularity contest.

Online, the only place I can recommend - besides /Biz - is the mr money mustache forums, and that only if you're into frugality.