Advice Thread

>Age
22

>Savings
15k in crypto
2k cash

>Debt
0 (Finally)

>Monthly income
4k a month after taxes

>Financial question
Do I tell my GF about my crypto? or just pretend like I don't make much and invest all my extra income.

I wouldn't tell. If you're 22yo, your relationship most probably isn't a really long one yet?

Whenever someone says they have a lot of money, people WILL change their interests in that person if they're not as wealthy.

So just to be sure - don't tell your GF until you guys have been a happy couple for many many years.

It's tempting to want to prove people that you're making money and that you could be financial independent in a few years, but the thing is that no one should ever know how much money you have.

The wow's from your family or friends will last for a few minutes and then you will enter into a world of shit. People will want to borrow money from you. You parents will probably feel entitled to your money and a plethora of other disadvantageous matters

Half of the mutual funds was life insurance from my father passing. The rest was from putting a lot of money into the mutual fund during the recession and monthly contributions.
My savings are from thrifty living.

Also my $4k a month is after taxes.

It's been a few months. Her parents are loaded so I wonder how she's gonna cope with eating potato soup for a bit. Or should I just pretend like I'm investing in something dumb like helium so she expects the money to fizzle out.

You are only 18. Start investing in a skill that will get you income. Then once you have money start looking at investment strategies to increase your growth.

>$50k a month
I meant a year.

>Age 18
>savings 2k liquid, 23k in crypto
>Debt 0 (ausfag college loan)
>monthly income 2.5k

>Age
23 years old

>Savings
0

>Debt
0

>Monthly income
0

>Financial question
10 year NEET here that will eventually inherit around a million USD, a shit ton of jewelry, and 0 assets. Only finished High School and no job experience whatsoever. What do

In most markets, home ownership is cheaper than renting, and you're building equity which can be borrowed against.

Stop renting as soon as you can, it's literally pissing money away.

>Age
23
>Savings
25k
>Debt
30k
>Monthly income
4.5k

>age
30 years young
>savings
~$1.6k PIVX
~$300 TAAS
~$550 ETH
~$250 HMQ

>debt
$9k student loan
$6k to texas attorney
$7k credit cards

>monthly income
$5k

>financial question
What would happen if everyone just applied for a bunch of credit and maxed it out and never paid it back, waiting the full seven years for it to clear only to do it again?

>my answer
We would win.

more like have debt collectors come to your house and if you don't end up paying you'd get sued and sit behind bars. when you apply for a credit you sign a agreement

>Age
31

>Savings
320k in stocks
4k in bank account
10k in Jewelry

>Debt
220k in student loan debt.

>Monthly income
Currently ~6k, soon to be 22k.

>Financial question
Should I wait a few years and see if real estate is going to go tits up again saving as much as I can for the purchase now? Does a $1m home sound too excessive? I don't drive nice cars or have expensive tastes. My expenses are around 35k a year.

I don't know what kind of third world shithole you're posting from but in the US you can aquire debt and there is no risk of jail, nor do they ever come to your house

I know this, because I've already done it once. I repay NOTHING with one exception: student loans. The only reason for this is because student loans can be garnished from your tax returns or your wages.

>Age
25
>Savings
Over 100k, 45k in bank
>Debt
Zero maybe 2-3 thousand in credit card but that's intentional to build credit
>Monthly income
Just depends sometimes I make over 30k on average it's 20k .
>Financial question
I'm buying my first investment property, and want to know anyone's experiences with it. I am stoked and closing sometime soon but need someones honest opinion

don't buy the property unless you have a tenant

when will you fuckers learn that jewlery isn't an investment... it's frivolous trinkets

source or stfu I am making a statement not guessing

29
$160k liquid net assets, $10k in savings, total NW $300k or so, not including crypto (too lazy to calculate current nw on the 7 or 8 shitcoins I fuck around with; it's somewhere in the neighborhook of $10k)
$140k in mortgage debt
$3500 monthly income after tax/401k contribution, $8750 gross income per month
No questions, just bragging lel

Source on not being put in jail over debts? It's called the fucking Constitution. Where the fuck do you live, Zimbabwe?

>age
18
>savings
7k liquid
22k in assets
>debt
0
>monthly income
1-2k
>financial question
Want to take up a job this summer that isn't wage slaving to fill my time before I got to college this fall (college is fully paid for and I will graduate with no debt). Any reccomendation?

>Age
18

>Savings
300 Cash
4k in Crypto
5k in my car

>Debt
0
Not including my credit card which I use to build credit but my purchases are payed off immedialty after I use it

>Monthly Income
~1100 - 1600
Rent is 600 and basically the only other thing I need to spend money on is gas and textbooks

I sell stuff online as a second job so i make more sometimes and my hours are hella fexable

>Financial Question
Im just trying to get to the point where I have enough for a downpayment for an apartment building. Any tips?

You can definitely go to jail for not paying denbts, but it's typically only after you ignore a court order to pay your denbts. Then you're technically jailed for contempt of court, even though the only reason you were in court in the first place is because of your denbts.

This is only true for denbts you choose not to (or can't) expunge through bankruptcy.

How often will that actually happen. I'm going with a property management.

You can only go to jail for "government" debts. IE taxes and fines - and yes, only on the basis of contempt of court. Nobody gets put in jail because they didn't pay their credit card.

and that is called fraud if you refuse to pay something, that retarded child blows words out of his mind.

Your car is not an investment. Understand that now. It's a liability

No you're talking about failure to appear... it's a criminal charge that can happen if you miss a court date. It has nothing to do with debt.

Internship or volunteering in your field could work

This. Unless your car is a vintage collectors item, it is a depreciating asset.

It may not be an investment but in the condition its in I can sell it and get back the money I spent fixing it up. The only liability about it is the fact that any second of any day someone might smash into it making it worthless.

>enough for a down payment.
It wont matter unless you get a better paying job. Loans will look at your debt to income level.

Not true. You can go to jail for court-ordered payments of alimony, child support, etc. But you're right, it's mostly reserved for government debt.

The government always gets its pound of flesh. Don't ever owe them money if you can avoid it.

That is not fraud, fraud is making money under false pretenses.

If a credit card company loans you money, and you can't pay it back or won't pay it back, it is entirely on them. The only real retaliation they have is to ruin your "credit-worthiness" meaning OH NO, they won't give me another credit card! (pssst. for the next seven years, then the record gets erased)

I'm sorry bro your mistaken. Anyone will tell you exactly that. It is a liability maybe you can make your money back but more than likely you will not. What year model and such?

It's not worth a damn thing unless the money is in your hand. You need to learn this, fast.

>Age
26
>Savings
about $7400
>Debt
$0, thank God
>Monthly income
about $600/700 or so

>Financial question
not sure what to do. Just general financial advice would be nice. I've never wanted to get a Credit card, because fuck the credit Jew, but I'm beginning to realize that Iv i want to get anywhere in life I need to have a credit score, which i can't get unless I have and use a credit card.

been considering getting one and using it for general purchases where I can pay it off right away. But I hear banks don't fall for that and your credit score is only ever worth it's salt when you prove you can pay back large purchases

No its not. Fraud requires misleading someone with false information in order to injure someone. Not paying your debt is not fraud.

Im not talking like now but in 5-10 years, and Im studying network security and Im planning on joining the military after college so if I dont have a good enough job I might as well kms

...no, you can be held in contempt for non-payment in defiance of a court order, and the debt doesn't have to be owed to the government.

divorcesupport.com/divorce/Contempt-2978.html
startribune.com/in-jail-for-being-in-debt/95692619/

If you want to build credit and don't want a credit card, things like utilities, cell phones, or even a car loan will help.

If you join the military then you will be eligible for the VA loan which has no down payment requirement.

So cell phone bills appear on credit reports? Or is this only when you have a cell contract

>the debt doesn't have to be owed to the government.

You're still defying a court order. And realistically, they're only going to jail you for it if you're flagrantly not paying yet have the ability to be paying.

IE - if you get into a car accident and can't work to pay court ordered child support, they're not going to jail you for it.

Apply for as MANY credit cards as you can my man. And when you get them they will be shithead-tier limits like $300.

Buy some frivolous shit, gas for your car, shit like that and pay em off for a couple of months.

wait till they get to like $1000 limit and max them all out on crypto --I recommend bitbean (kek)

Now, never pay them back.

>patrician-tier
find a way to launder the credit card -> crypto transactions so that they don't know you spent their money on crypto

The contract will, because it is by it's very nature an extension of credit. The cell phone company is extending you 1 or 2 years of service on the promise that you will pay the required fees every month.

It's not as good as a credit card, but it's a start.

I've been in jail for contempt and it was only 30 days, as a matter of fact, I believe its limited at 30 days in most states

that's hardly a sentence at all

He is wrong.
The only thing that shows on credit is borrowing money.
A phone lease will show on credit but not a phone bill.
This guy doesnt know what hes talking about.

Read the second article I linked.

It's not supposed to happen, but it does happen. As I mentioned earlier, the crime technically isn't non-payment of debt, it's contempt of court, but at the same time, judges will often tie the bond to be bailed out to the amount owed or some minimally feasible payment that is a significant portion of the amount owed.

Debtor's prison is definitely still a thing.

Right now Im using a prepaid service and putting that on my credit card. I fucking hate contracts more than anything

you cannot bond out of contempt of court it's a mandatory sentence, so you're totally talking out of your ass

If you already have a credit card then I wouldn't bother.

that's a state or local level determination, in most cases. At any rate, it's not supposed to happen at all in the United States; debtor's prisons were part of the reason we chose to break away from the Union. People were getting thrown in jail for nonpayment of taxes, and at the same time had no say in what their tax level was.

I'm just saying debtor's prison exists. Whatever your opinion on having to be jailed for owing money is, sitting in jail definitely doesn't help you make the money you'd need to pay your debts; in many cases it's counter-productive, because being unable to work often will get you fired.

the population needs to fucking learn that CREDITORS cannot put you in jail godammit, nor can COLLECTION AGENCIES, nor can MEDICAL DEBT. Federal student loans is a different ballgame but CREDIT and LOANS are FREE MONEY

How do all these 18yrolds have 10 or 20k in assests like wat.
Ive been super proud of myself for living on my own and making 1.5k a month and having some cyrpto and when i see that i feel useless as shit

>"You're right, but in some really rare cases that aren't supposed to happen you're wrong"

>It's tempting to want to prove people that you're making money and that you could be financial independent in a few years, but the thing is that no one should ever know how much money you have.
>The wow's from your family or friends will last for a few minutes and then you will enter into a world of shit. People will want to borrow money from you. You parents will probably feel entitled to your money and a plethora of other disadvantageous matters

crypto is the first financial device that allows you to truly conceal wealth, i see no point in telling anyone

Nonsense. My utilities show up on my credit and they sure as hell never borrowed me any money.

READ THE FUCKING ARTICLE. It's not just contempt of court, it's that people who miss payment hearings will be arrested, then held on bail until payment is serviced.

Seriously, this is not me, this is all from the article.
>In Illinois and southwest Indiana, some judges jail debtors for missing court-ordered debt payments. In extreme cases, people stay in jail until they raise a minimum payment. In January, a judge sentenced a Kenney, Ill., man "to indefinite incarceration" until he came up with $300 toward a lumber yard debt.
>

I'm not reading your dumb cherry picked article and I'm surely not reading your fucktard greentexts

investopedia.com/ask/answers/12/paying-utility-bills-improve-credit.asp
> typically, utility bills only appear on a credit report when they're delinquent.
It costs money to report that information and utility companies dont care about your credit since they can deactivate your services if you fail to pay.

>Age
23 years old

>Savings
3k in my 401k, I have no savings

>Debt
7k in credit card, and 20k in student debts ( I know I am an idiot)

>Monthly income
~$3500 before taxes

>Financial question
Any advice to increase my wealth, I have began budgeting since the beginning of this year and buying some LTE. I'm trying to get into law school right now.

Not everyone wants to live in a tiny ass apartment for the rest of their life. With a house, you won't ever get evicted, won't have to deal with rising rent, and you can do whatever you want.

>>Age
24
>>Savings
$7500 in stock
$800 in ETH, XRP, LTC
>>Debt
$40k student loans
>>Monthly income
$3600 to $4000 a month after taxes
>>Financial question
Is Roth 401(k) or IRA the way to go every time? Do we have dissenting opinions?

>all these niggers still haven't caught on to gookmoots data mining.

>Age
18
>Savings
$3000
>Debt
None
>Monthly income
Around $4000, soon to be $4500 with a max potential of $ $5600 if I work 60 hrs per week
>Financial question
I want to save up until I'm 20-21 and put a down payment on a house near a college I'll be going to and rent out the spare rooms while living there and attending school. Is this a good idea?

Those earnings are before taxes btw.

As long as you're interesting to her you'll be fine. Generally all women want is a little excitement.

I wouldn't tell her about the crypto gains my man. I'm sure there's a way you can fulfill her basic primal urge for a provider without opening up the books completely.

>Age
30
>Savings
About 1.3mil in Realestate. Half is my primary residence. About $90k in superannuation.
>Debt
$640k at 4.3%
>Monthly income
About $12500 before tax.
>Financial question
Should I keep paying down the mortgage on my house or try to diversify?

>age
18
>savings
About $300 in checking
>debt
around $6k in student loans
>monthly income
Right now, zero, when the semester ends, about $1000/month
>question

I'm working on my physics undergrad right now. My adviser wants me to go to grad school and eventually get my PhD. That's a bit daunting ending my first year and seems almost unreachable. Should I actually get my PhD and get some ayy lmao data analyst job making $150k a year, or be content being a second rate engineer capping out at 40 around $100k?

How the fuck do you plan on affording a mortgage while being a student?

...why would you not pay off your student loans?

>Age
21

>Savings
15k in crypto

>Debt
4K on my car

>Monthly Income
~1800

>Financial Question
Does anyone know any good books that could help me figure out a career I'd enjoy?

whats your best financial advice for a someone a few year younger than you with liquid $100k ?

Mining/tradie?

$90k in Super at 30 is brilliant. Surely you already have a financial adviser?

I'd salary sacrifice into super for the tax deduction & go ham with an interest offset account to knock that mortgage off. Maybe consider leveraging up on the property to put into managed funds (identical to super but a proper platform & portfolio). Don't go too much into investment properties just yet with all the government intervention in the housing market you're better off diversifying and trying to get some modest returns until things turn a little less volatile.

Also if you're feeling like having some fun buy a bit of Crypto/Metals for shits and giggles in case anything amazing happens with them but that's not sound advice just some fun I do on the side.

If you don't get a financial adviser but like a proper, independent one that isn't a parrot.

What country are you in? And how much do you earn?
I was combining everything with my fiancée's shit so it's not that impresive.
I'm a tradie but I don't make that much and was a neet until I was 23.

I've been looking for a good financial advisor but the only ones I've found are the type that only cater to idiots that can't set a budget.

Oh you put your money into a combined SMSF? No real point doing that unless you want to leverage up a property inside of Super but the government (Unions) has all but killed SMSF lending.

It's really hard to find a good adviser atm because the government is killing revenue streams so the people that look at your are looking at you to put insurance through your Superannuation. Which isn't that bad if done right and an ethical adviser can give you comprehensive advice without any out of pocket by charging super and getting insurance commissions but unfortunately that sector is mostly pump and dump because the regulations are cutting that off soon.

If you're on a $160k gross there's a lot you can do and a good adviser will see that you're interested in taking it seriously.

Get some job experience. Learn to talk to people in an work environment.

>Age
21

>Savings
$20k in crypto

>Debt
~$4k in student loans (dropped out)

>Monthly income
$0 but making a healthy amount through crypto currently

>Financial question
How do I become a millionaire before 30? That's my goal or I'm ending it. Please don't suggest wageslavery of any kind, thanks.

>Age
27
>Savings
40k USD
>Debt
0
>Monthly income
2,166 USD
>Financial question
I am a US federal civilian NF band employee in Germany. Job is too cozy, and pay is livable here. Recently I applied for a GS07 job with our new base in Romania. GS07 is 2,900 USD per month, but this job included benefits like LQA, SMA, PHD, Relocation Incentives, basically total compensation would have been about 85k straight to my bank with no expenses on my part - housing and move paid for etc. Service agreement is for 18 months and its an "unaccompanied" tour, meaning my wife has gotta go somewhere else - part of the benefits included money to maintain a separate household. I've been given a tentative offer, but the HR told me I am considered a "local hire" so I don't get ANY benefits, not even relocation assistance.

Is it worth moving to and living in Romania at my own expense for an extra ~800 per month? Romania COL is less than Germany. Wife don't wanna go, so will use extra money to send her home.

Federal anons, is it worth becoming GS07 just to get my foot in the GS door? After the 18 months they'll put me on the priority placement program, but only for stateside positions, which don't exist in this series. Basically indefinitely on PPP.

Military anons, Would it be more worth it of they let me get a Secret clearance?

I got my BS in Physics, had shitty grades, and still made 150K doing Geospace Intel shit with Altamira in Afghanistan. Right now I work for a company called Cubic, making virtual terrains for the US Army's vidya game training. There is WAY TOO MUCH COOL SHIT you can be doing with your Physics BS, MS at most. Vector calc and optics are A LOT more fun when you are getting paid to do them.

Don't let your advisor scheme you into a life of school and .edu debts if you don't want to. If you're not aiming for a PHD, don't tell him, because he probably doesn't understand life outside of academia. If I were doing it over again I would look for undergrad internships at US Federal agencies like NIST, DOE, DoD ones like SPAWAR, or the Air Force PALACE intern program. Check out if your country has any similar agencies.

>30
>0
>100k
>4k
>How fucked am i?

Have my own business that is finally making some money. Wife is a doctor. Had a baby this year.

Only now learning about saving and stocks/bonds. Have a social media following with over 10 million reach per month (No idea how to leverage it, i'm learning)

>Age
19
>Savings
Around 4k in college funds.
>Debt
$0
>Monthly income
see my question
>Financial question
I just got a job and I'll be making $1640 before taxes a month. I'm thinking of focusing less on school the next two semesters and instead focus on making some money. I live at home and basically all of my pay will be disposable. How can I make the most of it? Any recommendations on how I should start investing? I'd like to save up enough money to go back to university.

Rent. Greater mobility. Dont take credits. Wait for dinancial collapse coming in the new kondratiev cycle. Buy gold. Wait for currency to fail. I mean petrodollar. Next 10-15 years. Real estate market crashes. Buy as many as you can for almost free. Enjoy. Also if you dont understand what I am talking about. I found videos of this guy who explains this stuff pretty well for newbies. Called "Hidden Secrets Of Money". Check on YT

>Age
28
>Savings
5k (crypto)
>Debt
$25k
>Monthly income
ZERO
>Financial question
I'm fucked

>Age
18

>Savings
20k in car
5k in bank
half a hectare of uneven land in the middle of bumfuck nowhere

>Debt
I owe my friend 3 dollars in arcade credits

>Monthly income
0

>Financial question
What is the best investment I can make with a piece of land in bumfuck nowhere in a third world country?

pic semi-related

That pic is gorgeous
>tfw will never live in a house like that