Boiler Room: The Official Stock Market Discussion
I got a whip I just don't care about it anymore.You dont have a whip
By some weird stroke of...luck? I got rear ended and they totaled my 2018 whip. I still owed 15k on it but it was worth 10k so I basically got nothinh but the loan paid off. It was an eye opening thing because Im paying down a asset is losing value every fukking year
Decided fukk it I dont even need a whip right now. Ive put maybe 3k miles on it since june. I wfh now and itll probs be permanent. That 550 I spent a month on note, gas, insurance can go to savings or stocks. shyt every fukking thing can be delievered to your door now. Next whip I get is all cash fukk that loan shyt
Congrats! That’s big.
ive had 3 different cars since 2014. My wife has had 2. I almost got a Tesla last week to make it a fourth. If I could get over cars I’d be better off for it. I just can’t seem to kick this narcotic.
100k is actually alot for most people. if a nikka still has 200k left on the mortgage and other debts then he needs 300k in assets.
so yes, 100k is still very rare.
shyt...slightly OT but a $50k salary is almost more than what 40% of households bring in (in the US)
U.S. income distribution 2019 | Statista
anybody under 25 year old here? if you are reading this message and following this thread then yall are lucky as hell. 
because you are about to be a multi millionaire without even trying. no it ain't about trading penny stocks and you got lucky every damn trade. it ain't about getting lucky like this year with TSLA.
it's about the time. it's always about the time.
compounding interest really is a magic brehs. you decided to invest 15k a year. that's $1250 a month. If you can't invest $1250 a month then you have a spending problem. change your life style and you will be able to invest $1250.
at 15% return
10 years
starting principal - $0
yearly addition - $15000
years to grow - 10 yrs
interest rate 15%
future value - 350k
20 years
starting principal - $0
yearly addition - $15000
years to grow - 20 yrs
interest rate 15%
future value - 1.76 mil
30 years
starting principal - $0
yearly addition - $15000
years to grow - 30 yrs
interest rate 15%
future value - 7.5 mil
40 years
starting principal - $0
yearly addition - $15000
years to grow - 40 yrs
interest rate 15%
future value - 30.7 mil
now that's very conservative return i might add.
at 20% annual return
10 years
starting principal - $0
yearly addition - $15000
years to grow - 10 yrs
interest rate 15%
future value -467k
20 years
starting principal - $0
yearly addition - $15000
years to grow - 20 yrs
interest rate 15%
future value - 3.36 mil
30 years
starting principal - $0
yearly addition - $15000
years to grow - 30 yrs
interest rate 15%
future value - 21.2 mil
40 years
starting principal - $0
yearly addition - $15000
years to grow - 40 yrs
interest rate 15%
future value - 132 mil
you will win as long as you have enough long term stocks and don't trade in and out. so young nikkas - time is your best friend. start investing. and i highly recommend not be a trader unless you have a time to really learn the art. if you want to trade, trade just 10% of your portfolio. go long. go find your top 10 stocks and stick with it.
because you are about to be a multi millionaire without even trying. no it ain't about trading penny stocks and you got lucky every damn trade. it ain't about getting lucky like this year with TSLA.
it's about the time. it's always about the time.
compounding interest really is a magic brehs. you decided to invest 15k a year. that's $1250 a month. If you can't invest $1250 a month then you have a spending problem. change your life style and you will be able to invest $1250.
at 15% return
10 years
starting principal - $0
yearly addition - $15000
years to grow - 10 yrs
interest rate 15%
future value - 350k
20 years
starting principal - $0
yearly addition - $15000
years to grow - 20 yrs
interest rate 15%
future value - 1.76 mil
30 years
starting principal - $0
yearly addition - $15000
years to grow - 30 yrs
interest rate 15%
future value - 7.5 mil
40 years
starting principal - $0
yearly addition - $15000
years to grow - 40 yrs
interest rate 15%
future value - 30.7 mil
now that's very conservative return i might add.
at 20% annual return
10 years
starting principal - $0
yearly addition - $15000
years to grow - 10 yrs
interest rate 15%
future value -467k
20 years
starting principal - $0
yearly addition - $15000
years to grow - 20 yrs
interest rate 15%
future value - 3.36 mil
30 years
starting principal - $0
yearly addition - $15000
years to grow - 30 yrs
interest rate 15%
future value - 21.2 mil
40 years
starting principal - $0
yearly addition - $15000
years to grow - 40 yrs
interest rate 15%
future value - 132 mil
you will win as long as you have enough long term stocks and don't trade in and out. so young nikkas - time is your best friend. start investing. and i highly recommend not be a trader unless you have a time to really learn the art. if you want to trade, trade just 10% of your portfolio. go long. go find your top 10 stocks and stick with it.
Man I make more than that and I probably make the least amount of money in this thread
My car cost me $164 a month. $236 if you count insurance. I’m not paying $500-$600 a month on a car.
I actually double my car payment and the second one goes into a Discover savings account. I’m 1 year 3 months into a 5 year loan and I’ve built up 16 months worth of payments in it. For now that’s just sitting there but 2.5 years into the loan I’ll be able to wipe it out if I choose.
Cars aren’t worth paying $500+ a month for. Cars are something you find a basic level of comfort with and stop there. For me that was a 2016 Honda Civic Ex-T. It’s not the greatest car but it has all the features I like to have at the cheapest price I could get.
my biggest problem with a car is not the monthly money wasted. it's the monthly money not invested.
is it safe to say on average people paid 20 years worth of car payments in their life time? on average? that's 20 years compound interest wasted. so people literally lost millions on cars that depreciates every day.
i hope everyone of us here say hell no to lease, 48 month finance, 60 month finance and just say hell no to car payments. because if they understand the magic of compound interest then they can't possibly finance a car.
i know when i need a new car i'm buying it cash. but no doubt i'm driving mine till its wheels fall off. 13 years with same car. still going strong.
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I make right over 50Man I make more than that and I probably make the least amount of money in this thread
Saysumthinfunnymike
VOTE!!!
Man I make more than that and I probably make the least amount of money in this thread
Don't forget There's a big difference between where people live and the cost of living.
Someone making $50K in certain areas they will be struggling to get by.
$50K in say a random midwest town and they could be doing pretty good.
50k goes pretty far in Minneapolis
Saysumthinfunnymike
VOTE!!!
I got fam in the midwest, they don't make much, still got a big house, multiple kids, paid college etc..
Some my other fam on the east coast here are like
wanting to get the fukk out cause of the taxes and shyt