What should a NEET do?

Fuzzy_Logic
Fuzzy_Logic

I am a NEET. I lucked into (with hard work) what is now worth $103k in ETH this year. At its peak it was worth over 200k but I stupidly thought it would go up forever and I also didn't fully understand the tax situation so I was afraid to cash out, so I held. Now I realize that living in a modest paid off home in my local area may be a far better option than holding this volatile shit and worrying about the money I never realized is just sunk cost fallacy or something similar.

The cheapest non-beater house I see is listed for $65k. It's clearly a fixer upper but it's also very nice and doesn't appear to have major issues.

Should I cash out now, pay my 40% effective tax rate (fuck!), attempt to buy a cheap house, and be relatively set? I can easily get a minimum wage job and make up the utilities and even rent out the second bedroom. I could AirBnB it or whatever to help with bills. I assume property tax will run me a few thousand a year, and maintenance and improvements will cost something, but if it comes down to it I can probably get a loan from a family member because they'll be happy to see that I'm not a NEET anymore.

tl;dr: What should I do with this money in your opinions, kind Veeky Forumsraelis? What are the downsides? Should I stay in crypto and pray? Is there another option?

Pic unrelated but fun.

Attached: OP.jpg (2.87 MB, 3000x5590)

Other urls found in this thread:

wsj.com/articles/the-clock-is-ticking-faster-at-tesla-1522233639

Garbage Can Lid
Garbage Can Lid

roll

MPmaster
MPmaster

roll pls a cute

Spamalot
Spamalot

gg OP
you will never get an answer
rollan

Soft_member
Soft_member

oh and before anyone asks
how did you get the ETH
I flipped assets from a popular eth "game" and went all in on a couple of eth pyramid schemes. it sounds easy but i stayed up day and night for the last 4 months to accomplish this

haveahappyday
haveahappyday

i didnt get rich immediately should i give up??
Yeah.

Bidwell
Bidwell

kek.

Gigastrength
Gigastrength

Also you're retarded for not holding to pay less in taxes. You're hopeless.

Deadlyinx
Deadlyinx

I'm not asking if I should give up. I'm asking if I should go from NEET to paid off house and comfy existence as opposed to staying in a risky, speculative investment.

winrar

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Methnerd
Methnerd

roll

TreeEater
TreeEater

rollo

Sharpcharm
Sharpcharm

Ronald'd

Burnblaze
Burnblaze

Technically this would be income tax on the FMV of the ETH on the day or receipt, so I think it's you who is retarded. Holding does nothing but lower the tax on the difference between that and whatever I cash out at, and that's only a capital gain (loss) which is limited to 3k/year in deductions

SniperWish
SniperWish

shes mine fuck off

StonedTime
StonedTime

I'll take it

IMAGINE THIS GUYS LIFE

CouchChiller
CouchChiller

look 52-54, statutory rape and incest what a dirty bitch, she raped her own son

ZeroReborn
ZeroReborn

34-36 GET

Sir_Gallonhead
Sir_Gallonhead

I know Tonya 58-60 is one of the teachers convicted for having sex with an underage HS student.

Duckface in a mugshot, based.

here goes

Poker_Star
Poker_Star

Starting to doubt my OP image choice. Oh well, rollin'.

Burnblaze
Burnblaze

shes 18
raped her son
Fucking brainlet.

Oh yeah? Too bad Linda's chocking on my cock already. She fucking loves it. Told her to bail her out with my DBC gainz she_doesnt_know.jpg

WebTool
WebTool

ples gib me waif

Ignoramus
Ignoramus

chocking

Supergrass
Supergrass

roll something nice

Raving_Cute
Raving_Cute

Rollin'

BlogWobbles
BlogWobbles

OR HER BROTHER YOU CHOCKING RETARD

RumChicken
RumChicken

Rollin

Playboyize
Playboyize

looks like you got one of the few who may still be a decent waifu

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Gigastrength
Gigastrength

ROLLIN

BunnyJinx
BunnyJinx

Russell pls

Ignoramus
Ignoramus

roll

Supergrass
Supergrass

Winrar!

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Sir_Gallonhead
Sir_Gallonhead

roll for a qt

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Inmate
Inmate

"tagged as transgender'

ayyylmaoo

PackManBrainlure
PackManBrainlure

Not bad looking, though

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SniperGod
SniperGod

roll

BinaryMan
BinaryMan

roll

Lunatick
Lunatick

kek btfo

farquit
farquit

roll

Firespawn
Firespawn

Use that 100k to buy a duplex or a townhouse and rent out the other half. That way your 100k will continue to earn you income and you'll never have to work again.

RumChicken
RumChicken

Use that 100k to buy a duplex or a townhouse and rent out the other half. That way your 100k will continue to earn you income and you'll never have to work again.
I like this idea a lot, but it will be about 60k after taxes.

AwesomeTucker
AwesomeTucker

Holy shit, #40-42 Lauren is godtier

CodeBuns
CodeBuns

Roll

Supergrass
Supergrass

check

Evil_kitten
Evil_kitten

roll

idontknow
idontknow

roll

Attached: 1520682027206.png (3.76 MB, 1920x1080)

lostmypassword
lostmypassword

83 get

Playboyize
Playboyize

roll 10-12, 28-30, 58-60, 70-72, 85-87,

Techpill
Techpill

Unless I can just claim it's long-term hold or something

PackManBrainlure
PackManBrainlure

roll

Emberburn
Emberburn

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StonedTime
StonedTime

don't want tomboy jailfu
REROLL

Supergrass
Supergrass

Come on 85-87.
All these poor girls, probably majority got in to this situation after hooking up with a Tyrone or a Trayvon

Raving_Cute
Raving_Cute

Roll

Lord_Tryzalot
Lord_Tryzalot

not gonna bother replying but I am gonna roll

King_Martha
King_Martha

Get a mortgage. 60k is still plenty of money for a downpayment on a duplex if houses in your area go for 60 - 100k.

Debt is leverage. Debt allows you to use the bank's money to purchase cash-flowing assets that would otherwise be unavailable to you.

I invest in real estate myself and it's the best I've ever done. Getting a check every month from my tenants in an amazing feeling.

SomethingNew
SomethingNew

AAAAAAAAAHHHHHH

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iluvmen
iluvmen

rolling for ancap cop-killing GF

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Inmate
Inmate

this one sucked
let me try a new one

Deadlyinx
Deadlyinx

Roll

StonedTime
StonedTime

Roll

DeathDog
DeathDog

comeone these are all weaksauce waifus
rerolling

Gigastrength
Gigastrength

rollzenging

RavySnake
RavySnake

roll

BlogWobbles
BlogWobbles

roll for trashy

PurpleCharger
PurpleCharger

roll

Fuzzy_Logic
Fuzzy_Logic

rolan

Nude_Bikergirl
Nude_Bikergirl

rolliano

Spamalot
Spamalot

Lashaya
White
no rape charges

I want out

Playboyize
Playboyize

Rolling officially

TreeEater
TreeEater

roll

5mileys
5mileys

rollolol

Bidwell
Bidwell

Get a mortgage
I am a NEET with no income and no work history. No lender will touch me as far as I know. I'd love to hear otherwise, but that's just how it is. At best I could hit up my rich uncle for a loan or something, or maybe he'd co-sign, but that's it.

Snarelure
Snarelure

Ruol

BlogWobbles
BlogWobbles

Please no blonds.

LuckyDusty
LuckyDusty

roooollll

StrangeWizard
StrangeWizard

Give me 1-3 that is a hot coke whore

Supergrass
Supergrass

Roll

Evil_kitten
Evil_kitten

roll

lostmypassword
lostmypassword

Not even on the internet do I get some luck. I'm going to off myself.

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Snarelure
Snarelure

maybe he has a feminine penis user

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SniperGod
SniperGod

ayyyyyyyyyyyyyyyyy

happy_sad
happy_sad

roll

Methshot
Methshot

roll for that gud JW

Methnerd
Methnerd

rollan

TalkBomber
TalkBomber

Sorry, bub, you get this cute girl (male)

Attached: Screen-Shot-2018-03-28-at-12.05.30-PM.png (1.26 MB, 734x1774)

RumChicken
RumChicken

Roll

StonedTime
StonedTime

Look at the charts, crypto is a fucked asset for the foreseeable future. A year at minimum. This is going back to October levels AT MINIMUM, the size of the Head and Shoulders pattern on Eth show it should be retracing to a negative value. Thats how fucked it is. It's not going negative but it's going to lose a breathtaking amount of its price in the next month. My recommendation is to use your Eth to buy precious metals, silver or gold and hold for the next 3-6 months. The Tariffs, NK situation and mid terms will be causing a lot of anxiety in the markets. wsj.com/articles/the-clock-is-ticking-faster-at-tesla-1522233639 Some of the major meme stocks like Facebook and Tesla are getting btfo as well. The Trump bump for the stocks are wearing off and commodities are where you want to be. Worst case scenario is a few % loss. The stock market is giving up a lot of ground right now which is the moment you should be watching for a good entry point. You can make a good return with your cash right now if you play your cards right. Definitely get out of crypto though, this ship has sailed.

PurpleCharger
PurpleCharger

pls gib

StrangeWizard
StrangeWizard

hodl

Spazyfool
Spazyfool

I just want peace of mind and to sleep well at this point. I know a house may not be the cleverest choice from a Veeky Forums standpoint but it'd be great for my mental health. Not sure I can put a price on that.

I agree that crypto is in rough shape. Damn.

Lord_Tryzalot
Lord_Tryzalot

roll jailfu

SomethingNew
SomethingNew

ROLL

likme
likme

meh, reroll

Methnerd
Methnerd

Crypto isn't in rough shape, it's over. Markets don't do a single telephone pole back to hell, it's a downward trend with several bumps in it as people buy the dip only for it to collapse.
As for peace of mind, this is a golden opportunity unfolding in front of you. This is akin to having 60k USD in cash right as the stock market unfurled in '07. Entering now will give you life changing dividends downstream. Buying a house/apartment will just tether you to an asset that could outright depreciate by 30-40% in the next year if the markets roll so hard it becomes a recession.

CouchChiller
CouchChiller

will just tether you to an asset that could outright depreciate by 30-40% in the next year if the markets roll so hard it becomes a recession.
Context: I'm a NEET with a mediocre (empty) resume. This would provide me a platform for normalcy. What exactly are you suggesting—wait for a huge downturn in the stock market and shove my money there, continue living at home and hope to make it work otherwise?

5mileys
5mileys

Rollin'

Burnblaze
Burnblaze

Rollin

RavySnake
RavySnake

Roll

Crazy_Nice
Crazy_Nice

40% effective tax rate
Just claim it as long term capital gains and you'll only have to pay 15% on it.

Soft_member
Soft_member

Rollan for crazy hottie

Techpill
Techpill

Just claim it as long term capital gains and you'll only have to pay 15% on it.
I have no proof though, no cost basis, no records of purchase, which is required for this, right?

SniperWish
SniperWish

Please don't be Ronald.

ZeroReborn
ZeroReborn

4-6
seems like depressed fuckup
still very very hot
31-32
tagged as transgender
WTF are you fucking for real? that looks nothing like a man holy shit these things are getting too realistic looking
52-54
statutory incest
pls be my sister
67-68
potentially best girl

the rest are trash not worth bothering with

Ignoramus
Ignoramus

Just say you found it on an old hard drive you forgot about.

Nude_Bikergirl
Nude_Bikergirl

ROLL!

WHAT WILL IT BE ?!

Attached: 1517538392806.gif (3.99 MB, 247x184)

Lord_Tryzalot
Lord_Tryzalot

all of your bitching gave you bad karma, this is what you get

Just say you found it on an old hard drive you forgot about.
that's great and all but again I have no proof of cost basis, this in practice simply means that worst case I get hit with short term cap gains when they contest my report. So basically I just claim long term and hoipe they dont call my bluff, or end up paying the full 40% worst case.

Just wondering if there's a better way

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haveahappyday
haveahappyday

roll

Playboyize
Playboyize

i literally just bought a house for 65k in december with some of my crpto earnings. def takes the edge off the current downtrend. dunno if that helps you though, but having a house is cozy.

roll

Burnblaze
Burnblaze

I think I want to do it just for my mental health desu.

SniperWish
SniperWish

Rollerino

Fried_Sushi
Fried_Sushi

roolin

Stark_Naked
Stark_Naked

yea true, but prepare your anus when the market goes bullish again in, idk, like 9 months

damned if you do dammed if you don't

Sir_Gallonhead
Sir_Gallonhead

On the flip side I'll feel like shit if the decline continues and I have 50% of my current portfolio value by the 9 month mark and no house

I already regret not cashing out half in January/February, how idiotic. I've learned so many expensive life lessons in the last year

Soft_member
Soft_member

God I hate this board so much

happy_sad
happy_sad

also, my house needs a new rook (gonna cost me 10k) and i put about 8k worth of work into it... something to consider when buying cheap houses.... but the work is fun

lostmypassword
lostmypassword

I don't mind hard work and a bit of manual labor, if anything I think I'd enjoy learning new skills and being more hands on with that kind of thing. I taught myself (youtube, manuals) to do a lot of work on my own car when I was truly destitute and while I don't much like working on cars now I still value the experience

You gonna DIY the roof or is that the total cost to have someone else do it?

hairygrape
hairygrape

roof....needs a new roof

Emberburn
Emberburn

fucking ewww i got the worst one

VisualMaster
VisualMaster

The fuck am i looking at?
Also roll

TechHater
TechHater

idk, getting professionals is going to cost 10k. i may be able to do it myself... i rewired the house and put new vinyl flooring in with youtube tutorials (bunch of other little things too)... if crpto goes up, ill pay someone to do the roof for me, cause i dont want to screw it up

King_Martha
King_Martha

Any downside to waiting it out a bit? I assume the worst case is leaks damaging the framing somehow, right?

girlDog
girlDog

Welp.

lostmypassword
lostmypassword

You got yourself a bonafide Veeky Forums waifu

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Techpill
Techpill

how the fuck do I get a job

Carnalpleasure
Carnalpleasure

rollan

likme
likme

Cash out, get a job, wait for the stock market crash, then invest in stocks, wait a couple more years, then retire. 100k now won't last you for long.

Poker_Star
Poker_Star

Rolling is more interesting than your situation

StonedTime
StonedTime

Congratulations, your waifu is Rose. Things went downhill after all of the youtube ewhoring.

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Supergrass
Supergrass

platform for normalcy

not being normal creates it's own distortions and stresses and this concept you've invented is just another delusional artifact

Sir_Gallonhead
Sir_Gallonhead

ror

about eth? no idea could go up or down ... this shit is literally the worst asset - get to know what taxes you'd have to pay and better cash out some

Gigastrength
Gigastrength

Roll

Firespawn
Firespawn

58-60 get

Flameblow
Flameblow

bing bing bong bong bing bing bing

CouchChiller
CouchChiller

rollnerd

TechHater
TechHater

sharolling

iluvmen
iluvmen

rollen for my prisonfu fren

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RavySnake
RavySnake

fml at least I'm still top 200 link holder

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DeathDog
DeathDog

oh shit rollin

Illusionz
Illusionz

lol

farquit
farquit

I see what you're saying and I agree to some extent.

However, it's a platform for me to exist on my own without worrying about when my NEET safety net will drop out from beneath me. It's medium-term financial stability.

I don't care about being a normie

haveahappyday
haveahappyday

roll

5mileys
5mileys

ding ding ding

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PackManBrainlure
PackManBrainlure

Rollin babyyy

Ignoramus
Ignoramus

rollin

Stupidasole
Stupidasole

roll

hairygrape
hairygrape

Legal if she ever liked one of your posts

t. Brazil lawyer

PurpleCharger
PurpleCharger

Rollin

Ignoramus
Ignoramus

tagged as transgender

Crazy_Nice
Crazy_Nice

Rolling

Spamalot
Spamalot

Rolling for Jilian MOMMY pls

Also OP
selling low

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Inmate
Inmate

time to roll

kizzmybutt
kizzmybutt

you're right, but it's brutal if it gets any lower

Methnerd
Methnerd

brother rapist

I'll take that

BunnyJinx
BunnyJinx

Not surprising every crime clearly involves drugs, prostitution, or both.

As far as the question. You are always better off owning property. If I didn't already live debt free, I'd have sold my crypto. In the coming automated economy, real estate is going to be one of the only things that is valuable because it is scarce. It doesn't matter if it is in a shitty area either.

If you are in a rural area, fine, you won't have to worry about crime and transportation is becoming less important.

If you are in an urban area, you shit property will eventually be gentrified into something of value.

After you own property, start accumulating as much liquidity as possible to cash in on the next bubble.

King_Martha
King_Martha

rollins

viagrandad
viagrandad

Terrible idea, maybe if you had more though. Roll

5mileys
5mileys

Hold on mate, we're all gonna make it. You'll regret having sold it now for some shitty house for which you'll have to contine to wageslave. Cryptocurrencies aren't going away anytime soon

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Methnerd
Methnerd

rolling

CouchChiller
CouchChiller

get reqt son

Supergrass
Supergrass

Rolli

King_Martha
King_Martha

Oh boy I hope my wife is nice

viagrandad
viagrandad

literally jinx

iluvmen
iluvmen

Terrible idea, maybe if you had more though. Roll
Why?
You'll regret having sold it now for some shitty house for which you'll have to contine to wageslave
I'll be hugely insulated in that my expenses will be low (no mortgage payment)

lostmypassword
lostmypassword

better be good.

SniperWish
SniperWish

Roll

Ignoramus
Ignoramus

just one more roll

Booteefool
Booteefool

No whammy no whammy no whammy ANNNNDDD STOP!

Lord_Tryzalot
Lord_Tryzalot

roll

viagrandad
viagrandad

OP killed his own thread

askme
askme

/roll

massdebater
massdebater

roll again

Inmate
Inmate

better than a silent death with no responses, plus it's more fun. Veeky Forums's been pretty reddit lately

likme
likme

Shit... that's a dude.

Reroll

Also OP hold for a yr to decrease tax burden

kizzmybutt
kizzmybutt

FUCK YOU I WANTED ASHLEY

PackManBrainlure
PackManBrainlure

rollando again

Emberfire
Emberfire

She's all yours. I rerolled for grand theft katana

TechHater
TechHater

Oh fuck....Ronald

Fuzzy_Logic
Fuzzy_Logic

roll

Nojokur
Nojokur

Yeah. You need some proof for basis

Need_TLC
Need_TLC

so tldr I just owe short-term capital gains with 0 basis if I cash it all out. pretty simple

massdebater
massdebater

Roll

BlogWobbles
BlogWobbles

roll

Nojokur
Nojokur

roll

Stark_Naked
Stark_Naked

rollando ando

Booteefool
Booteefool

rol

Spamalot
Spamalot

Rollio

Bidwell
Bidwell

What the double dueskies

Burnblaze
Burnblaze

rol

TalkBomber
TalkBomber

dont mind me just pickin up a jailfu

Nude_Bikergirl
Nude_Bikergirl

If you can change your life by cashing out, do it man. No brainer.

King_Martha
King_Martha

They see me rollin

haveahappyday
haveahappyday

Trying to construct a basic budget, not sure if I can actually make ends meet even if I can afford the house outright

Definitely requires some planning heh

w8t4u
w8t4u

Roll

askme
askme

rollingggg

PurpleCharger
PurpleCharger

roll for lauren the rest are not waifu tier.

LuckyDusty
LuckyDusty

best girl

likme
likme

rolls for Chenelle

I'd honestly just hold out. Taxes are due in a few days, do you really want to report a huge profit and then have to market sell everything at the lowest to make your tax obligations?

Local monero.

Firespawn
Firespawn

taxes are due in a few days
If he sells now it still doesn't go on the taxes that are due in April, it would go on next year's tax return. How are there people on a business board who don't know this?

Flameblow
Flameblow

Roll

DeathDog
DeathDog

I'd honestly just hold out. Taxes are due in a few days, do you really want to report a huge profit and then have to market sell everything at the lowest to make your tax obligations?
I'm just gonna pay short term capital gains on whatever I cash out, it's pretty simple. Taxes are not really an issue here, for me it's mainly the decision between keeping 100k in this volatile market and buying a house. I can figure out the actual details between the two on my own.

FastChef
FastChef

Rollon

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New_Cliche
New_Cliche

roooollin

TurtleCat
TurtleCat

Roll.

BunnyJinx
BunnyJinx

They don't tax just fiat gains. They tax you on profits whenever you dispose your crypto. It's hard to say what your profits are without looking at all your transactions

Nude_Bikergirl
Nude_Bikergirl

Simple logic tells me that they can never exceed short-term capital gains with 0 cost basis. In theory they could magically get my trades (they won't) and this could be an issue but I suspect that simply paying capital gains with 0 basis is the answer

Boy_vs_Girl
Boy_vs_Girl

fuck it roll

Sharpcharm
Sharpcharm

Let's say you sold 1000 USD worth of ETH for $1500 for iota. You make $500 profit. Then you sold $1500 worth of iota for $900 worth of btc, a capital loss of $600.

It's not just what you sell into fiat user..

Ignoramus
Ignoramus

Oh, and fixing up a fixer-upper is a great way to both learn marketable skills and make money by increasing the value of your home which you then sell and do it again.

Spazyfool
Spazyfool

Try that but getting a mortgage isn't so bad if you rent out a the other part of a duplex, perhaps even rent out the other bedroom in your duplex too and have a roommate.

Garbage Can Lid
Garbage Can Lid

but getting a mortgage isn't so bad if you rent out a the other part of a duplex
It's not that I'm afraid to take on a mortgage, it's that they literally won't lend to me because of my lack of work history.

viagrandad
viagrandad

give me the trap plz

lostmypassword
lostmypassword

user. They want all your transactions. People that don't give up at least 500 lines of transactions or at least a couple of pages neatly detailing your cost basis and gains will arouse suspicion. If it was only fiat in and fiat out they cared about nobody would have an issue with crypto taxes.

PackManBrainlure
PackManBrainlure

People that don't give up at least 500 lines of transactions or at least a couple of pages neatly detailing your cost basis and gains will arouse suspicion.
Based on what? The max you can possibly own is short-term capital gains or income rate. Do you really think the IRS is going to subpoena binance for trading records and do the accounting to demonstrate that you owe more in theory? That's ridiculous. Do you know anything about the IRS at all?

Harmless_Venom
Harmless_Venom

How much do you get my monthly?

TurtleCat
TurtleCat

rollerino

Spazyfool
Spazyfool

Hmm I don't know your life user but asking around with different bankers and haggling goes a long way sometimes.

Harmless_Venom
Harmless_Venom

They aren't going to lend to someone with no income lol, I'm not unwilling to try but I think that's a non-starter

SniperWish
SniperWish

No IRS wont get binance info. What I'm saying is the way they tax crypto isn't by how much fiat you pull out from fiat exchanges.

In theory I can put in 100k fiat. Make many trades with ICOs and foreign exchanges, makes 10MM and only pull out 120k fiat. You might think you will only be taxed on the 20k fiat profit but that is apparently not how they do it... Every crypto to crypto exchange is a taxable event. Yes. It's that fucked up. I'm sure your accountant won't know and will go along with just paying 40% tax on short term gains but that is not the correct way. I'm also sure the IRS will not give a fuck about you and your smalls earnings. Literally a drop in the ocean of crypto gains.

WebTool
WebTool

jugando de nuevo a ver si esta vez me va bien hijueputa

PurpleCharger
PurpleCharger

You are telling me that every trade is a taxable event. Got it. I am telling you that nobody knows anything about your trades right now and barely anyone is paying tax on this in the first place. Paying your max tax on your cash outs is effectively paying in good faith which is the spirit of the law. It's pretty simple.

Sir_Gallonhead
Sir_Gallonhead

In other words, IF you pay tax despite not getting a 1099 or anything else, you are self-reporting. IF you follow the letter of the law (inferred and not laid out absolutely yet btw) then you are self-reporting one step removed from that and are basically reporting something that isn't even verifiable by the IRS without a great deal of effort.

If you cash out millions and you want to reduce your cost basis, THEN that is something to worry about. But if you are a small fry there's a 99.99% chance you are a fucking brainlet if you are worried about tracking every single trade assuming the net result is the same to you or it puts you in a worse position.

SomethingNew
SomethingNew

TLDR Op. I’m rolling

Skullbone
Skullbone

Was just thinking of all of this recently. And sorry to hijack but I had to ask...in theory if you told them you lost your username/password or some bs like that or you just can’t simply find any of your old trades, would you simply be forced to pay the short term capital gains tax? This is assuming they go along with all this or you basically have no trade record, just how much you deposited on CB years ago and how much you’re taking out now. Also what is the “give a fuck” tier of a deposit? 1 million? 2 million?

Finally, roll

TechHater
TechHater

Ah I see. I understand what you are saying now.

Tough decisions user. Also ETH looks like it might plunge a bit lower soon. I guess the question really is whether you believe ethereum will go back up to $1400+ like before or is it all over?

Spazyfool
Spazyfool

roll

Need_TLC
Need_TLC

Tough decisions user. Also ETH looks like it might plunge a bit lower soon. I guess the question really is whether you believe ethereum will go back up to $1400+ like before or is it all over?
Right, to bottom line it, I'm in a really precarious spot where I can essentially cash out and get a house and kind of walk a very fine line of self-sufficiency. The downside is that I lose out on the rebound, the upside is that ETH might continue to tank.

BunnyJinx
BunnyJinx

You seem young. You can wait another year to let it rebound and cash out. By your own logic...paying max tax on your cash out is in the spirit of the tax laws. Since you haven't cashed out.....then....

cum2soon
cum2soon

Don't forget that you have to pay property tax

Even if you buy a shithole house and fix it up for cheap, if it's in a good area prepare to get RAPED by property tax every month. Nobody on Veeky Forums will think to warn you about this because nobody here owns property.

Gotta pay for other people's kids to go to public school, OP!

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massdebater
massdebater

Why don’t you do half and half? Tbqh 30k isn’t that much money in the grand scheme of things so if you were to put that 30k down on a 60k dollar house you’d probably get a great mortgage rate. Most people put down 20%, if that, so putting half down they’ll have more faith in you. Plus you’ll pay that off in no time if you do a 15 year mortgage and you make some extra cash and pay into the principal occasionally. From there just get a semi decent paying job and I’m sure you’ll be able to still make the payments. Hell, pull out 40k and put down 30 on the house and save 10 for emergencies. Unless of course you don’t even want to work, in which case this is a bad plan but I assume you’d still want to do something for a living. And if money gets tight you can do those things you mentioned like rent a room, do Airbnb, etc. And in the end you still have some money in crypto in case it rebounds.

hairygrape
hairygrape

I don't care about the tax aspect and that can be dealt with as a separate matter. I'm interested to hear why I seem young, but I am in my late 20's (not to imply that this doesn't make me young).

Looks like property tax is around $2k a year in this area if Zillow is to be believed

Carnalpleasure
Carnalpleasure

you’d probably get a great mortgage rate
Because of this:
I am a NEET with no income and no work history. No lender will touch me

Evilember
Evilember

rollin for the weekend

TalkBomber
TalkBomber

roll

BlogWobbles
BlogWobbles

If you get robbed/lose you laptops/password that's a capital loss event. You don't pay. But I seriously don't know because a lot of people will abuse this and they will inevitably change the laws to be more punitive if they catch people defrauding. They aren't quite there yet.

New_Cliche
New_Cliche

Also, to pay the house off and have a bit of a cushion, I'd realistically need to cash out most of my portfolio.

whereismyname
whereismyname

You said you were NEET so I guessed you were in the 25-27 range

Garbage Can Lid
Garbage Can Lid

Depends where he lives. Here in Illinois I get fucked big time (small house but I live in a decent middle class neighborhood). If he lives anywhere that isn’t a draconian Democrat ruled state it’s not uncommon for him to only pay a grand or 2 per year even in a nice neighborhood. I know people across the border in Indiana/Wisconsin that live in house twice the size of mine and pay a fifth of what I do in property tax.

w8t4u
w8t4u

Makes sense. Essentially I just need to choose between something that could be life-changing now and the potential upside and downside of waiting it out.

I can just budget for it, before Veeky Forums was crypto there were plenty of "save your piss" threads and those were right up my alley.

kizzmybutt
kizzmybutt

LINDA

PackManBrainlure
PackManBrainlure

When crypto moons in the next month or two all you ta faggots will be btfo. Most of you niggers at the beginning of the month said btc would be 4K by now. Ta is for retarded street shitting nigger pajeets.

FastChef
FastChef

4k by now

So their estimate was off but their direction was correct. You don't think that's useful?

BTC is on a clear, steady downtrend.

Bidwell
Bidwell

Roll pls juliana

Techpill
Techpill

Op was it powh.net? Be honest did you get a lot from there and do you recommend it?

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SniperWish
SniperWish

In that case I’d hold the crypto if you can afford to. I’m sort of in the same spot. Put in about 10k, was at 280k at peak of bull run, now at 90k the last couple days. I’m dumb for not taking profit but it is what it is. I’m ok financially so I’m in it til 7 figures and I pull some out or it all crashes and I take my initial investment, the latter I just can’t see happening. Yea so basically my advice is hold out if you can, otherwise fuck it and cash out and start your plans.

CouchChiller
CouchChiller

Roll

AwesomeTucker
AwesomeTucker

I live with aging family members who won't be around forever and I've got nothing else really. Minimal debt (small amount of student loans)

viagrandad
viagrandad

get a loan as lil as 300k
fuck off nigga you out of your mind. I wanted to take out 30k loan while I had stable job and 10k in cash and the banks gave me the middle finger. I was lucky otherwise I would have spent even more on crypto..

My point is banks are very picky when they giving out imaginary money. Like they have anything to lose... fucking banks lets burn them, and the rich too. Fucking slaughter the 1%.

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askme
askme

Fuck you with your 65k house faggot just buy it a shitbeater house in my area is like 1-2mm
Hell a 800square foot townhouse is 1.2

Techpill
Techpill

Please be good

WebTool
WebTool

rollerino
so many hot grills
i want a petite brunette one.

StrangeWizard
StrangeWizard

Screw you OP I had $20 to my name at your age and my parents were already in their 60s with no jobs. Had 100k in loans. You are just struggling to decid whether to cash out 100k or 2-300k next year with minimal loans, not a bad situation to be in.

Raving_Cute
Raving_Cute

Ok, I'm not exactly crying about it, I'm just trying to make the correct decision. I think it's a no brainer if I can pull off the house thing but I'm not sure if I'm selling the bottom or making a naive mistake etc. Just soliciting advice.

Emberfire
Emberfire

You sound like a low IQ, uneducated piece of white trash.

Giving somebody an unsecured $30k personal loan is very different from the bank giving providing a mortgage in order to purchase real estate. With real estate, the bank can always take ownership of the property and sell it the loan can't be paid back. With a personal loan, however, the bank has no recourse if the lendee fails to pay.

Banks are actually pretty desperate to give out mortgages since interest rates are so low. Also, the Federal House Administration (FHA) provides mortgages for as little as 3.5% down. It's really not hard to get a mortgage.

BunnyJinx
BunnyJinx

first degree murder
Yep that's bout where I draw the line between evil fuck and "criminal"

GoogleCat
GoogleCat

That's interesting and compelling, but I think I am an extreme case. Unless they'll just let my elderly uncle cosign and be happy with the fact that I have 50% down, I really don't see it as a viable option and would be much more comfortable simply cashing out and having a house free and clear of debt, and simply living with the expenses thereafter. What are your thoughts on that?

Illusionz
Illusionz

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Lord_Tryzalot
Lord_Tryzalot

No matter what you do, take your money out of crypto.

Greedy brainlets HODL and end up losing everything. Don't fall for the meme. Cash out now while you still have a sizable profit.

Need_TLC
Need_TLC

I may see if uncle will float me the cash, tether some up (?) and slowly cash out. Should have done this in February, would have been a much clearer path. Nice roll btw.

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Boy_vs_Girl
Boy_vs_Girl

Don't assume that they won't lend to you. Spend 30 minutes and call a few banks/lenders.

having a house free and clear of debt

It sounds great, but you'll still have to pay property taxes, insurance, and maintenance costs. It won't be free.

Also, if you're young, it's better use that money to buy an asset that PRODUCES money as opposed to something that CONSUMES money. A single family home that you live in CONSUMES money every month. A duplex, townhouse, or apartment building that you share with tenants PRODUCES money every money.

If you do this right, and start buying cash-flowing assets right now, you'll never have to be a wageslave.

Living in a house that's free and clear sounds good at first glance, but you'll still end up being a wagecuck in order to pay for property taxes.

Playboyize
Playboyize

get

Flameblow
Flameblow

It sounds great, but you'll still have to pay property taxes, insurance, and maintenance costs. It won't be free.
I'm assuming 2k/year (based on Zillow) for property tax, $500/year for insurance based on a quick google (probably very wrong), and I'm not sure about maintenance. I don't assume that I'll live for free—I will certainly budget and if I think I can't make it work, I won't pull the trigger.

Also, if you're young, it's better use that money to buy an asset that PRODUCES money as opposed to something that CONSUMES money. A single family home that you live in CONSUMES money every month. A duplex, townhouse, or apartment building that you share with tenants PRODUCES money every money.
I understand. My thoughts were simply that I'd rent out a room via AirBnB.

I don't mind being a wagecuck, my goal isn't to be a NEET forever, and having only expenses to worry about is quite nice compared to having a giant black hole of a future.

But I understand where you are coming from. I suppose I can call around and talk to bankers etc. I wonder if they'd give my uncle a mortgage if he simply has the cash to pay it off in full anyway.. would make life much simpler

Bidwell
Bidwell

Banks are actually pretty desperate to give out mortgages since interest rates are so low.
yeah yeah dumbfuck. you know nothing and you clearly know nothing about raiffeisen. fuckface. also you sound like the average small dick spoiled american halfwit with mountain sized ego. fuck off nigger

DeathDog
DeathDog

I don't mind being a wagecuck

You will when you've been doing for 10+ years with no end in sight.

You have an amazing opportunity to buy an asset that sends you a check everything month WITHOUT HAVING TO WORK.

It doesn't have to be real estate - that just happens to be the path I took. All I'm saying is that your money can work for you. It can multiply. It can send you money every month. Wagecucking is one of the worst ways to earn money if you already have some.

eGremlin
eGremlin

cash out, buy back x3 next month

takes2long
takes2long

You will when you've been doing for 10+ years with no end in sight.
You have an amazing opportunity to buy an asset that sends you a check everything month WITHOUT HAVING TO WORK.
It doesn't have to be real estate - that just happens to be the path I took. All I'm saying is that your money can work for you. It can multiply. It can send you money every month. Wagecucking is one of the worst ways to earn money if you already have some.
I understand, but what are your suggestions in that regard? Buying a duplex just isn't in the cards unless I can basically get a loan on top of what I cash out, which is maybe doable... but they're all significantly more expensive than a cheap house, which is 65-85k. A duplex in the same area seems to run 150-250k minimum. I see one for around 110 but it's got no pictures, could be gutted for all I know.

w8t4u
w8t4u

raiffeisen

I didn't realize you were Romanian. My apologies. I don't know what the situation is over there. I was speaking from an American perspective (land of the free, home of the brave) where it's easy to get a mortgage since the government encourages and subsidizes home ownership.

PackManBrainlure
PackManBrainlure

I was speaking from an American perspective (land of the free, home of the brave) where it's easy to get a mortgage since the government encourages and subsidizes home ownership.
Context: uncle isn't rich but has some money and I think he'd be open to helping out. He probably has 150k in the bank and takes a pension as well.

I have 100k in crypto before taxes, taxes not really being an issue until later

What do you propose as the best solution? I just want to make sure I'm not sitting on this constantly bleeding portfolio if that's what it comes to.

Supergrass
Supergrass

Rollin

Raving_Cute
Raving_Cute

rool

TalkBomber
TalkBomber

(land of the free, home of the brave)
gets shot while going to math class
gets mugged while going to wallmart
gets a boeing in the face while doing a soul breaking job
3000000000000000000000000000 debt
lowest iq country with as much manipulation and brainwashing as possible
wants to fly to hawaii, gets cavity seach
muh braveness! muh freedum
your country single handedly literally ruined the world.
but you were almost right with romania, I give you that.

hairygrape
hairygrape

So they’re completely btfo and your nigger brainlet response is, “they’re prediction was off” do you hear yourself faggot?

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RumChicken
RumChicken

roll

Emberfire
Emberfire

I actually agree with all of those things. The United States is definitely a shit hole and only getting worse. We elected a literal retard to be our president on the basis that he would build a 2000 mile wall. We aren't the brightest bunch.

Lunatick
Lunatick

Sigh, roll.

viagrandad
viagrandad

God dammit. :(

WebTool
WebTool

Rollsafe

VisualMaster
VisualMaster

If your current expenses are low then just wait it out my man, despite the fudders the market is pretty much guaranteed to reverse its current trend anywhere in the next 6 or so months.

Just chill and NEET it up until the market recovers, then cash out maximum half of your crypto gains so you can still get a part of the massive future gains to come as the more quality projects in this sphere start actually being implemented in the real world.

JunkTop
JunkTop

roooooooooooooooollllllllll

Stark_Naked
Stark_Naked

give it to me and i will wire u the monnehs

Sir_Gallonhead
Sir_Gallonhead

RER
rerioolllllllll

lostmypassword
lostmypassword

If your current expenses are low then just wait it out my man, despite the fudders the market is pretty much guaranteed to reverse its current trend anywhere in the next 6 or so months.
Based on what?

Stark_Naked
Stark_Naked

Can't you get out of US and cash out?

Playboyize
Playboyize

makes no difference and I want to stay in the US

Supergrass
Supergrass

None of these chicks would want to stay with me :/

SomethingNew
SomethingNew

Reollin

Playboyize
Playboyize

Rollier83827281

whereismyname
whereismyname

ROLL

Need_TLC
Need_TLC

big roller

Booteefool
Booteefool

Rolling

5mileys
5mileys

Roll

farquit
farquit

roll

happy_sad
happy_sad

Rull

Spazyfool
Spazyfool

dont cash out... sell enough to travel to cheap country, have fun for a while or get a job, keep some bitcoin and some selected alts for 5 years

Sharpcharm
Sharpcharm

roll

RumChicken
RumChicken

roll

BunnyJinx
BunnyJinx

Big tity goth gfpls

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Crazy_Nice
Crazy_Nice

llor

Evilember
Evilember

haven't seen this image in awhile

likme
likme

Purify me

Poker_Star
Poker_Star

Rollin

Nude_Bikergirl
Nude_Bikergirl

two words
CHAIN
LINK

Fried_Sushi
Fried_Sushi

Roll for qt

SomethingNew
SomethingNew

Lets see. Rollan

hairygrape
hairygrape

Yuck. Reroll.

PackManBrainlure
PackManBrainlure

Rollio

Snarelure
Snarelure

eikk

TalkBomber
TalkBomber

rollin and hatin

TurtleCat
TurtleCat

rollo

BlogWobbles
BlogWobbles

Illegal Twerk...

What the fuck

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PurpleCharger
PurpleCharger

lil' alien. come on man. reroll.

Nude_Bikergirl
Nude_Bikergirl

rollin'

Emberburn
Emberburn

tfw you'll never go on necromancer adventures with Russell and learn the dark arts

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Sharpcharm
Sharpcharm

roll

viagrandad
viagrandad

roll

Snarelure
Snarelure

Roll

Carnalpleasure
Carnalpleasure

Lol

Burnblaze
Burnblaze

roll

MPmaster
MPmaster

rollin for russ

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