Message from @FBI
Discord ID: 808948269249462282
I have a couple grand to put toward that
I'm planning to start one as well, maybe freeze some funds on an account gaining interest and figure out a way of getting a passive income while I'm either studying or already in business
But greed is... quite the motivator
I need to learn to control it, before I throw myself in
is there another way to build up money but like not for retirement?
savings is too slow
obviously I can't access social security or anything
I have 2 grand just sitting here
Also you can't touch the money in your 401k or Roth IRA without getting penalized heavily in taxes. You have to wait until you're actually retirement age to pull money out of it
yea but
man idk...
Yes, which I reckon would be a good thing for people with bad spending habits
(me)
And the big difference that was told to me is 401K doesn't get taxed when you put money into it, only taxed whatever the tax rate is at the time you pull money out, and roth IRA is opposite, whatever you're putting in gets taxes deducted, but it's tax free when you pull it out (many would argue this is the better way to do it since nobody can tell the future and taxes usually get worse over time)
yeah that's true
I know a guy which has inherited his family's fortune
Hes essentially a multi millionaire, but under the condition that his funds would be frozen and hes given a consistent 9k a month for his expenses
9k a month here it's quite a lot
Yet he still lives on the streets, blew everything on drugs
Sad, and hes homeless until the next 2k weekly payment, where he blows it all in 2 days
i'd rather do ira
Other than getting a job, the other way to make money is to have a brokerage account and do trading, but the returns are pennies and nickels if all you have is a couple hundred bucks in there. There's also the risk of poorly investing it and losing it
so 2k probably won't make a difference either
if you find a bank that has a decent savings account interest rate, that also can generate cash over time, although it's also slow
Well maybe 10 to 20 bucks
Patience is rewarded
2k is a good start, but it's still not going to make you 500 dollars a day or anything
true
Put it into Bitcoin and wait 12 years. It’ll be worth $200k
if you invested 20,000 though... 0.5% is 1000 bucks
what if it collapses by then though
No
hahaha
Go learn how Bitcoin works
:(
Sorry, just being real
It’s unstoppable
investing isn't really my forte
just the answer "no"
computer science is though
What if an solar storm sends an electromagnetic wave powerful enough to disrupts earth's communications for a time
What then 😂
Like I said, go learn how it works if you need more confidence
Faraday cages and high frequency radio mesh networks
yea but
ira is guaranteed