Boiler Room: The Official Stock Market Discussion

[FabTrey]

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.

you are in a minority.

The average monthly car payment in the U.S. is $550 for new vehicles, $393 for used and $452 for leased. Overall, Americans owe more than $1.2 trillion in auto loan debt. Auto debt makes up 9.5% of American consumer debt. On average, Americans take out about $51 billion in 2.3 million new auto loans each month.

but since you bought an inexpensive and highly reliable car, so consider yourself lucky.
i would pay it off fast and keep it for next 20+ years. Civic lasts practically forever if well kept. you will save so much money keeping your civic long term.

 

[old pig]

Man I make more than that and I probably make the least amount of money in this thread

shyt is tough for folks out there...and those numbers aren’t even necessarily individual salaries...families gotta get by bringing in less than $50k...crazy

 

[Deafheaven]

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

Being a single man with only liabilities being rent and a phone bill and personal loan I live realllll comfortable n live in a good location too. If i made double this Id be on absolute dummy

 

[the cac mamba]

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.

breh

"if you cant invest 1250 a month you have a spending problem"? what the fukk salary is that based on for 25 year olds?

and if you're getting "20 percent a year for 40 years without really trying", then you're the greatest investor in wall street history

 

[Serious]

you are in a minority.





but since you bought an inexpensive and highly reliable car, so consider yourself lucky.
i would pay it off fast and keep it for next 20+ years. Civic lasts practically forever if well kept. you will save so much money keeping your civic long term.

Winb83 is self admittedly cheap as fukk

 

[Serious]

I make right over 50

I make just under 75k in LA. Technically more if you count the capital gains from this year.

But its peeps in here making 150k+ throwing 10-20k around on an investment.

 

[Serious]

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.

.

Yeah i throw like 2k a month into stocks.

 

[mannyrs13]

Man I make more than that and I probably make the least amount of money in this thread

I must say I've been blessed with great parents. Which unfortunately a lot of people haven't. Building wealth is vital especially for future generations. I know those income statistics look ugly but they gotta change. The article that @surf posted said that 20% of blacks were in poverty. Hispanics prolly not too far behind. Something has to be done as far as building wealth and advertising assets. @FabTrey has the right idea with building wealth over time. Although I don't think I could have been doing that 1250 a month thing but still good for the young people and anyone in general to invest what they can. I definitely didn't reach 50k in income this year, or any other year before that but I have over 100k in net worth cuz I invest my money and took the risks. Hopefully in 2021 I can get into the real estate game depending on how things go. Nothing major like @dora_da_destroyer but something small at least. Would love to get into the airbnb game but I know that's a challenge.

 

[Deafheaven]

I make just under 75k in LA. Technically more if you count the capital gains from this year.

But its peeps in here making 150k+ throwing 10-20k around on an investment.

Adjusted for your cost of living we probs around the same living quality give or take a bit. I cant fathom moving west not making six figures. My sister moved to seattle and she pays like 1300 for a literal fukking box 1300 here gets you a nice ass 1br in the posh areas of the city.

The snow here though

 

[Deafheaven]

breh

"if you cant invest 1250 a month you have a spending problem"? what the fukk salary is that based on for 25 year olds?

id say a good target is 500 per month. thats maxing out your Roth IRA every year

I get where he coming from but for me to invest 1250 a month on my income would take some monk like dedication. I told myself Id put in 300-500 every month next year though

 

[Serious]

I get where he coming from but for me to invest 1250 a month on my income would take some monk like dedication. I told myself Id put in 300-500 every month next year though

Do what you can, the point is to start and be consistent.

You'll win if you play the long game and commit to dollar cost averaging.

 

[Saysumthinfunnymike]

Brehs don't get hung up on numbers, invest what you can and that's great..

I have more money i could put to work in the market but I don't want to risk higher than the percentage im currently at.

What's nice is when you are doing well in your positions, you then have more in your brokerage accounts to risk and it allows you to invest more aggressively which allows you to make even more money if you continue to pick the right stocks.

Nothing better than spinning wins into more wins. Keep at it brehs and merry Christmas lol

 

[the cac mamba]

Yeah i throw like 2k a month into stocks.

thats pretty good on 75 in LA

 

[Serious]

thats pretty good on 75 in LA

I'm frugal as hell and there's nothing to do during the pandemic.

Post pandemic, that number may change

But I'm hoping to get closer to 100k within the next couple years.

 

[dora_da_destroyer]

A lot of stuff going on here....20% for 40 years straight is unrealistic especially given people’s investment is likely to be in their 401k and then index stocks.

1250 is also a high barometer - all you stash isn’t likely to just be in brokerage accounts, you need cash savings for emergencies, home/car repair, down payments or weddings, college funds for kids, if you have a 401k, there’s that, then a brokerage...etc

and we do the car thing ad nauseum, if you have free cash and can afford it, do what you like - nice crib, nice car, nice clothes, nice vacations, nice food...everyone has their thing. I’m not into stashing every nut knowing tomorrow isn’t promised. You can’t take it with you, no point of stacking 10M that you only decide to enjoy after 60

be responsible and plan for the future but enjoy your present brehs, it’s all that’s guaranteed