Message from @Deleted User
Discord ID: 472436223483445248
My dad got me into the saving mindset by not spoiling me. He forced a frugal life on me and made it clear that I’ll get a good education and a safe neighborhood, but everything else will be my doing. Any funds would only be received after he dies. Makes sense to me.
@Freiheit - CA good question. i am in the building stage at the moment. once i have it built and i have the family i will think about how to preserve it. although i think it has a lot to do with instilling good values into your kids/grandkids. once you die you have 0 control over what happens
Family trusts give you a good amount of control.
Helps if you have dysfunctional relatives/kids.
Excellent.
Is there a way I can put physical assets in trust but kept in my possession, like a will, or is that just a will?
Of course. A trust differs greatly from a will
NEVER finance a car purchase! If you can’t pay cash, you can’t afford it. Lottery tickets are a “stupid tax” on the lower class. Car payments are the “stupid tax” on the middle class.
https://youtu.be/_oG6mQ5rjFI
I agree. Save up for a car!
👀
@Deleted User did you see this story yet?
wot
Betting on SJW companies to fail seems like a good investment strategy.
Tbh I think fb is going to go back up
Maybe over the short term but I think Facebook is past its prime. Something tells me that kids of the next generation wont use it like we did.
yes, of course
@Tanner - SC that's great
@ThisIsChris soon you'll have to change your avatar.
@Freiheit - CA why's that?
Zuckerberg won't be controller of the planet anymore.
@Freiheit - CA am I missing something? What happened to him?
The previous ten posts.👆🏻
@Freiheit - CA lol thanks. I need to think of my next avatar
I have been seeing a reoccurring theme of reports that private equity companies are entering the lending space. This makes me think they believe we are at or near the top.
I believe their strategy is essentially “lend to own” as in they will make loans on assets/companies they would like to own at a lesser basis than what they are currently going for in today’s market. This is a form of predatory lending but nonetheless a sign that some of the smartest guys in the room are positioning themselves for an inevitable downturn.
@Zyzz hot take. What are some actions you think investors at our level could take? Hop onto REITs maybe? Gold is at a multi-year low too. Idk, what do you think?
@ThisIsChris sell off your portfolio and stay in cash. Wait for a correction to happen and don’t be in a hurry to buy or to catch the bottom. 2008 was a horrible time to buy because prices were still going down. Between 2009-2012 was great because things were stagnant for the most part. When we do hit the bottom things are not going to jump back up all at once. No, I don’t think we are going to see another black Monday. So be patient.
Shorting SJW companies whenever trump starts to act up is pretty woke actually
Not a terrible idea
Word of the day on <http://www.UrbanDictionary.com>
My thoughts on the stock market:
* The government gives people tax breaks for funneling their money into the stock market.
* The government manipulates the interest rates low so that any traditional investment vehicle now gets like 0.05% return and the dollar loses at least 3% of its value every year, so the stock market is the only way to avoid the effective confiscation of your savings. This system is so clever, it manages to steal purchasing power from the cash in your mattress.
* The government gives employers tax breaks if they hold back 5% of your pay unless you agree to go halfsies with them in the stock market.
* They tax you if you don’t stay balls deep in the market until the age of 65, pulling out is not an option.
The stock market is overflowing with the dollars of idiots who don’t belong there.
This is true. All my money is in gold, silver, cash, POGs
@Freiheit - CA POGs?
My Discover savings account earn 1.73%/1.75% APY, Inflation has averaged 2-2.5% over the last decade. Yes the govt gives incentives to get in (and stay) in the stock market. With that said, a 401k allows you to hold cash or bonds. There are many alternatives to equities
Joking about pogs