Help me settle a crypto-related marital dispute, anons
>be me >be married >have student loans and some credit card debt >have combined income over $200k, but live in NYC >have about $11k in crypto holdings (started investing early last summer) >want to buy the dip, but can only do it with credit cards >have a good track record of gains >think I’ll easily gain more than I’ll lose in CC interest >wife thinks we should just hodl what we have and focus on paying off our debt, not buying more and increasing our debt
Who is right, anons?
David Powell
Steps to becoming rich;
1) Pay off all debt 2)Invest any money you make and dont buy shit you dont need
David Cox
Your wife is correct
Lincoln Baker
CC debt has some of the highest percentage interest rates... that's not the solution.
Juan Williams
Agree. The problem is that, moving forward, I'm worried that if I wait until all our debt is paid off, I'll miss the crypto boat.
Chase Evans
Sell your Wife Buy the Dip
Bentley Foster
This shit really worth your marriage? desu you could have missed the boat already, its hard to tell whats going to happen at this stage. You make 200k a year, live in a great city and have a wife. Dont risk it on coins that might crash to fuck all within the next month.
Easton Jones
Sounds like you're well ahead of most people... why don't you focus on turning that 11k into something.
Gavin Anderson
Yea, you're right. It's not like a huge marriage-ending fight or anything, we just try to be on the same page on finances.
Samuel Brown
>letting women make financial or investment decisions
Honestly man, trust me. Debts first, then investments. You both will do good in life. GL
Aaron Barnes
Your wife is right. If you want to spread the 11k around do that, but 11k is already plenty to take a shot in this market.
Aaron Ramirez
leave her out, women are bad with money
Elijah Fisher
always pay denbts first
James Rivera
And this guy is right, the best thing now, take it out, wait a few days and buy back up. You have 11k in this market. Its a lot more than most of these shitlords portfolios.
Ryan Ramirez
>earn 200k a year >don't manage to save anything this seems to be the actual problem
Charles Johnson
Kekd
Joshua Myers
If he lives in Manhattan they will be spending ~4k a month on an apartment, plus ny is expensive as fuck.
Mason Thompson
i asume youre american >getting rid of debt >in a country thats built upon getting everyone fucked into debt goodluck mate my advice go marry some non american and get rid of american citizenship
Sebastian Phillips
fair enough
Eli Smith
recently out of law school, so haven't been earning that for long. but, yea, we could do better. father in law passed away pretty young earlier this year, so my wife had to travel a lot to help her family back in our home state. on track now, though, and reducing expenses.
Dylan Mitchell
your wife is right kek
Juan Morales
You're living paycheck to paycheck off $200k so maybe you don't know anything about money and should listen to your wife. Buying crypto with debt right now is the stupidest thing imaginable.
Jaxson Sanders
Move to Hicksville live cheap my friend
Gavin Williams
recently out of law school, as I said. I've only been making that much for a short time. It's a long story about why things were tight the last year, but it wasn't because we were blowing money at per se. Not living paycheck to paycheck, just clearing debt from previous years takes time in NY.
Elijah Hill
what is 'arbitrage' for $500, alex?
if you can earn more returns than the debt interest, it makes sense to pay off the debt in minimum allowed and invest the rest.
Owen Brooks
Can't move to Hicksville and get a decent salary as a lawyer, but will likely move to a cheaper market like Houston on Phoenix in the next couple years.
Connor Morgan
tell da bitch you lostt it all in a hack. KEEP BUYING MORE
Wyatt Moore
OP wants to commit a Reg T violation in order to buy an investment the government is against in the first place. What could go wrong?
Luis Murphy
Your wife is right. Don't go into debt to buy crypto.
Benjamin Bennett
>going (deeper!) into debt in order to buy fucking crypto lmao hopefully your wife leaves you, otherwise she’s in for a bad future
Landon Moore
GTFO from NYC. expensive as hell.
I lived in Scottsdale last 5 years and recently moved to Austin. Lots of metropolitan cities that don't bend you over in Cost of Living. >i'm an engineer making $120k in Austin and hodling 20 BTC and 200 ETH, with $50k in student loans @ 3.5% and $30k auto loan @ 1.4% and $400k mortgage @ 3.25%
Connor Ortiz
3) don't get married
Brody Phillips
Which do you like better? Phoenix area or Austin?
Robert Gutierrez
Get out of that jew city unless you are one yourself in that case neck yourself
Eli Robinson
she's right you moron. crypto is speculation. you don't speculate with money you need.
Lucas Walker
this is a friendly thread, user. go away.
David Williams
Rich people dont become rich by owing people more than they can afford
Joshua Diaz
Austin, Lived there during my 20s, a lot of nice shit to do.
Joseph Diaz
>in NYC
So you're netting like $30k/year then, congrats on being a retard. suzie-orman.gif
Nolan Howard
this t b h, desu
Charles Bennett
never planned on staying here long term, but it's a good place to launch your career in corporate law
Leo Thomas
/pol is that way you imbecile
Jaxson Anderson
That's exactly how rich people get rich. You leverage your assets as debt so you can get a higher return elsewhere.
One way of earning wealth is to work and save and build it up, then spend once you have it.
Another way (and better) is to take on debt to acquire purchase immediately and then slowly pay down the debt.
Another way is to acquire debt and invest that money in something that earns a higher RoR than the debt interest.
This isn't rocket science. If you have $100 debt at 3%, which situation earns you more money? Paying the $100 debt immediately, accruing no interest or investing that $100 in something earning 6% interest and then paying off the debt? At the end of the day, you'll have +$3 arbitrage.
Zachary Hernandez
tough question. I loved the outdoors offered by Phoenix and close proximity to areas like Las Vegas, SoCal, Co, etc.
But the city culture blows. No one's really 'from phoenix' and it seems like its just a transitional city. Most of my friends from my 20's moved on to other cities and jobs.
We ended up in Austin and love it. Amazing TX culture and pride, great food, great family oriented city. In the 5 years I lived in Scottsdale, I never met a single neighbor. The first day we moved in to Austin, 3 neighbors came over to introduce themselves and leave a gift.
My wife knows all the neighborhood wives and we all hang out. It's a great city....just not a lot of outdoors stuff.
Aiden Hughes
I understand that, but what is the point investing borrowed money in something that could fail? I would rather take the risk with my own money, rather than using someone else's to have no money to pay them back.
Levi Ward
Oddly enough, I actually am "from Phoenix," haha. I have family in Austin. I think some of the hipsters are kind of annoying with their "welcome to Austin, now don't remember to leave" bullshit (when most of them have been there a year or so). But overall it's a cool city.
I think what you named are more Scottsdale problems that Phoenix problems in general. People are a lot friendlier in Tempe, Mesa, Phoenix than in Scottsdale, which is like the Orange County of Phoenix.
Angel Rodriguez
Oddly enough your wife is right. Get the fuck out of debt before you go blowing your money away.
Thomas Myers
>combined income over 200k >student loans and credit card debt FUCKING HOW?
I'm 21 and paid my way through an Ivy League STEM degree and even I have 60k in my investment portfolio, right now, and no debt.
And I'm still unemployed! HOW?
Chase Miller
ding ding ding. Looks like you finally understand the concept of risk. Completely different then your dumbass blanket statement of always paying debt off first.
Jeremiah Gray
>I'm 21 and paid my way through an Ivy League STEM degree and even I have 60k in my investment portfolio
no way you did that without family money
Andrew Murphy
I understand the concept of risk, just no need for me to take it with the amount of money I make per year...
Jacob Turner
>wife thinks we should focus on paying off our debt >our Did you married a career cunt, user? Good luck with the inevitable divorce rape.
Thomas James
>investing with CREDIT CARDS BIG MISTAKE.
Ryan Cook
Listen to your wife
Xavier Carter
I worked from the age of like 14 and through college. And my income wasn't very high so there was financial aid.
Julian Russell
>be married >have student loans Every time.
Justin Green
Yea. My debt is from law school. Got through undergrad without any debt. Couldn't get financial aid, though, because my parents make too much money. Of course, they also weren't the type of help me pay for school, so I was fucked on that front.
Alexander Harris
be honest, OP. The loans are primarily hers, aren't they. And let me guess, you're making more money than her? And let me guess, she wants to to get a house, with the majority of the downpayment coming from you. And let me guess... she calls the shots about what you do with your money.
Wew lad.
Jeremiah Howard
>pay off all debt good goy
Luis Phillips
First mistake was marrying something that thinks it controls your life somehow. She’s property and if you chose a used incubator or one that has a broken hymen you invest your debt into a secondhand good that men for ages never would have bought secondhand.
Austin Brooks
Yes, I make more, but the debt is mine. The rest of your guesses are wrong.
Kevin Davis
Steps to becoming rich:
1. Divorce
Wyatt James
such edge. keep up the good work, user. you are the next Alexander the Great--if his choice of weapon was a keyboard
Blake Hall
>putting your finances together with some whore who might take 51% of it >not having all your money off shore or in monero
Never gonna make it
Hudson Lewis
This guy has the idea... I just broke up with my girl 2 months ago and I'm $14k up :) i guess the YSL couldve been digging into my pocket while also being a whore with no heart... oh shit i went too far... where am I? Hello? Mom?
Thomas Anderson
Dont ruin your fucking life because of crypto AAAAAAAAAAAHHHHHHHH MYY LOSSSEESSSSSSSSS IMMAAA HAUNT YOUR DREAMS IF YOU COME HERE NOW MUDAFUCCCKKAAAAAAAAAAAAAAAA
Juan Lewis
MOOOOOOMMMMMYYYYYYY AAAAAAAAAAHHHHHHHHHHHH
Jason Evans
Your wife sounds hot. Pics?
Justin Robinson
Debt = the rotten dirt of the earth. Get rid of that first. Wifey is right
Brandon Collins
this is her
Thomas Hernandez
nice
Levi Wright
No problem, niceanon
Dominic Cook
pay off your debts. only invest what you can afford.
Carter Evans
oh yeah also listen to your wife. this dip isn't worth getting further in debt for. if it dips more than 40% then yeah maybe consider buying as much as possible but this isn't worth it
Christopher Morgan
I actually am in a similar situation, but decided to load up the credit card. Thing is, I did it earlier and mostly went into alts. My portfolio is almost 10x up but I don't know if I would recommend doing that now. BTC went up too much, there should be a retrace and consolidation. If you did throw in at least a grand or two on credit card, do it on some promising alts.
Jace Butler
yo user, this is the Scottsdale/Austin dude. give me a way to message you and we'll chat more.
Josiah Powell
Somehow I feel like if you've posted this thread, my final guess is correct. You will also likely give in to her demands. Prove me wrong.
Leo Hughes
There are no demands here, user. Just two adults discussing finances. What the fuck are you so angry about? Fedora a little tight today?
Ethan Nelson
It's simple. Over the long haul, you'll make more in crypto gains than you'll pay in cc interest. As long as you can make the monthly payments, then buy the crypto. But you must be absolutely dedicated to holding long-term.
Dominic Mitchell
memes aside, your wife is right.
Juan Mitchell
There will always be another dip and another good time to buy more crypto. But the longer you hold onto debt the shittier everything feels. Getting that shit off your shoulders is a wonderful feeling, prioritize that over gains for now and you'll be better off.
Dylan Moore
Don't invest via credit. Never gamble what you can't afford to lose period. You certainly can't afford to lose something you borrowed. Yes, btc will probably rally. That is meaningless as it may not and you are learning bad habits. Be sensible. Take risks with your 11k. If you have any alt holdings sell and move it all into btc (or whatever it is you want to 'invest' in) if you are so confident. If you won't do that but you would borrow on credit...
Liam Nelson
>Letting women control your finances, EVER
You're already done for.
Robert Sullivan
literally investing more that you can afford to lose episode 2: credit card boogaloo
if you were smart, you would have sold high and then bought the dip with the gains, but guess what you're a fucking retard