What would you do with $51k, /biz/?
>>60950363>What would you do with $51k, /biz/?Keep it in my checking account and keep withdrawing and re-depositing a few hundred bucks while leaving receipts around to make poorfag redditors seethe
>>60950368Based
>>60950363Buy a burrito with a side of chips
My girlfriend does this and doesn't invest a penny. I have been trying for years to get her to buy an index fund but she refuses because it might go down .01% and she'd rather keep it all in checking where some nigger can much more easily steal it
>>60950363imagine having 15x that much and not being able to travel
>>60950375I'll deposit my penis into her butthole
>>60950363the person who keeps that much in checking has a cashflow of like $20k/month.
>>60950368dimes
>>60950363What if I need to write a check for $51,000?
>>60950391Sounds about right. I stopped working a short while ago but I used to make close to $17k a month pre-tax. I did passive investing of up to $8000 a month. Otherwise, my bank account would steadily accumulate and do nothing. I tried to have no more than $30k sitting in savings.>picrelated
>>60950363all in blue chip alts, hypothetically of course...
>>60950391I have cash in the bank, but I already have way more in investments. I'm really supposed to go all in, especially right now?
I do this, saving up to buy 1 bitcoin.
>>60950363It’s funny how normies react to this amount. Not even the cost of a new truck. Maybe some repairs on your house. 50k is more like the new 10k. Like congrats you saved some money with your summer jobs. Don’t get me wrong I’m not wealthy
>>60950528The funny part to me is that apparently if reddit suddenly had 50k they would just dump it all into CDs
>>60950363This is what I do but it's for my mental health in case I decide to quit my wagie job and take a year off. Not investing or gambling it.
I keep my emergency fund in a CMA so I can do all the checking account stuff but earn 4% on my cum pile
>>60950368kek
>>60950363Leave it in checking to earn 0% so banks get all of the earn off it. They deserve it and we are slaves to them by natural law. (/s my fellow redditors)
Uphold's sweeps program is the best cash position I have seen. It offers 4.5% on deposits fully FDIC insured up to 1.25 million. Deposits are not insured before being swept into member banks if deposited after 4pm or on the weekend but this is the best program I have seen. I used to do stablecoin yield and a government moneymarket but switched to this for .5% more.
>>60950652I like Fidelity's cash management account because it auto liquidates and gives free wires, checks and ATM deposits. So it's a checking account but it pays up to 4.31% interest. Dunno about the other services of uphold
>>60950375Have you tried explaining that inflation guarantees her money "goes down" if she does nothing with it? I suspect you probably have and just doesn't get it or still feels too scared.
Do normies really think 50k liquid is a lot
>>60950652.5% may be worth it on the first 1.25m but Robinhood's 4% on 2.5m can't be beattoo bad it will all go away once JPow finally bottoms out rates to zero and QE starts to bail us out of Orangenigger's recession; on the bright side that means BTC will be at 300k and we'll all be rich regardless
>>60950363i currently have 40k i cant invest for shit only good one i did was doge like 2 years ago
>>60950719Actually I was wrong, thank you for making me check. Uphold is actually for $2.5M and they are a hell of a lot better of a company instead of cucking to Citadel and selling orderflow data to institutions to trade against their clients they pretend to be there to serve using the cheeky "Robinhood" name in such a jewish way. Uphold is better in every way and whatever happens with rates the differential will remain higher just like it will be higher than riskier CDs at specific banks etc. I can't believe people put money in CDs for like 3.2%. It is fucking insane how retarded it would be to do this.
>>60950363It's so funny that poor people can't even fathom that rich people exist.Their $50,000 is like your $500.
>>60950363Plot twist: hes a billionaire and $51k is literally nothing to him
>>60950368based and checkingspilled
>>60950652>Uphold's sweeps programis this not taxed state and federal?
>>60950391mine is 1.8 mil.. a week
>>60950929I'm just an 8 figure poorfag but paying off the statement balance for my credit cards in full this month (as I always do) is like $35k alone. Easy to see keeping $50k-$100k and topping off it dips much lower
>>60950368Kek>>60950363Boomers
>>60950368
buy an assload of sol
>>60950375Show her how much she lost through inflation
>>60950363This could just be money the person needs to be liquid for an upcoming down payment on a house or somethingAlso why are we just picking niggas' receipts up from the ground
>>60950368Fuck yeah I do that. Picrel is me pressing my favorite button. Seeing big number makes me feel happy when I’m down.But for real, I have to pay $23k in estimated taxes every 2-3 months, all of my bills get withdrawn out of my checking, I pay off my credit card out of my checking, only a poorfag would think the $200/month interest from a HYSA would be worth the logistical aggravation of constant transfers.
In an economic crisis, is it safer to have cash or?
>>60950363Eithersomeone who can't manage money at allor>$25M nw and simply doesn't care about potential lost yield from $50k
Might be one of those Smartly accounts that give you the fat cashback credit card rewards
>>60951644Depends on the crisis but generally speaking having cash on hand to buy as the crisis happens is how fortunes are made. Having to sell just get cash to buy something else is just bad if for no other reason than taxes.
>>60951886I was thinking of building a condo next year but some are predicting a crisis similar to 2008. We'll see I guess.
>>60950528Dude i know this boomer couple in their early 70s and they don't even have 15-20k in savings to fix their broken central air unit in their house. This is after 45+ years of waging. Fucking how?
>>60950756wholesome
>>60950363I had $100k plus in my checking account, but after paying a downpayment for my home, and putting most if the rest in BTC, I am hovering arouns $10k in checking. I miss being able to impress the banking ladies at Wells Fargo.
I had 30k in my checking before I bought silver with it. I dont have a savings account idgaf about some shitty 3%
>>60950391I didn't I was making between $55k-$75k over the course of like 8 years and just kept saving. I was financially, in a fiat world, illiterate. I didn't want my money "locked up" in anything other than cash because I wanted it for an emergency or to buy a home. In 2021 I had about $75k and I...just let it sit. Yes I realize how much my ignorance cost me, but that's the evil of this paper money system. Had it been backed by gold or been literal gold, I'd have about 4x or more the buying power today, instead job losses left me draining that cash. This government has stolen so much from me, yes due to my ignorance, I don't see how I ever get it back. Perhaps one day robin hood and his men in tights eipl steal from the rich and give back to the poor me.
>>60950374blessed
At least put that in a High Yield Savings account. I use chime and It has checking and savings accounts you can swap between instantly. The savings earns 3.75%If someone is letting 50k just sit in checking they are dumb and dont know how to make money work for themselves. Or they plan on buying a new car this week lmao.
>>6095283850k in a HYSA results in only about a hundred bucks a month in interest after taxes. Most people could wipe their ass with a hundred dollar bill and flush it down the toilet and not think twice about it, especially for someone with 50k in a checking account.
>>60952859>50k in a HYSA results in only about a hundred bucks a month in interest after taxes. Most people could wipe their ass with a hundred dollar bill and flush it down the toilet and not think twice about it, especially for someone with 50k in a checking account.This. Savings accounts are a fucking meme.
10k in ULTY/TSYY20k in CRF with DRIP at NAV20k in VOOPurchase more ULTY/TSYY on margin
>>60952859Its better than nothing. The more responsible thing to do is buy S&P 500 with it and you get on average 10% a year.
>>60952888>>60952859>>60952838I have 4 times that amount in checking. Contemplating on paying off mortgage ( 2 times the amount) it's a 6%.Already have crapto from my younger years, don't wanna buy stocks or gold at ATH. What do?
>>60952912Sure, i'm just pointing out that the redditors crying about the lost interest from a gay little HYSA is funny to me when they're the same people that spend 150 dollars on GrubHub slop and don't even bat an eye.
>>60950363This is normalYou need a checking to pay off your CC bills
>mfw redditors think this is a lotHow come Reddit is so poor? College didn't deliver on their dreams??
>>60950363retarded poor people stay poor because they follow other retards and lose money.when poor normies tells you to invest in stocks, you need to sell.I have more money in my bank account than ever just because of this. It's worthless to get like 2500 a year for 50k when it can actually save your home or some other asset.
>>60952775Inflation is not a new concept nor was it in 2013 (8 years prior to your 2021 claim). Don’t blame the fiat system for your lack of inquiry into investing or other money matters.
>>60950756we are truly slaves on this planet
An extra $51k? I’d put it into LPs on AVAX. Only $51k? I’d use it on down payments for big loans
>>60952917Dont pay off the mortgage. Make that money work for you instead. Buy an index fund like VOO. You will get 10% a year and let it compound over time. That 10% covers the 6% you pay on the mortgage and gives you 4% more. I know not buying at an ATH. But if you just hold it long term for retirement its ok. Its gonna go up 10% a year on average.
>>60950507Put it in tbills, better interest than a checking account.
>>60950363A well off person.
>>60951490These days there are plenty of savings accounts that can be used identically as if they were a checking account. SoFi and Fidelity off the top of my head. Why would you not take a free 3-4 percent on your money?
>>60950363I have $50k in a shitty savings account and another $180k in a different savings account and $20k/mo in my checking.I could invest them, maybe in VOO, but don’t really want to because they’re the cash savings and dividends from my $13.7mm investments.
i keep 300k in my checking account, won't do much more than that with FDIC limits. You never know what's going to happen.
>>60950650Maybe they are rich. 51k is just pocket change.
>>60954139Are you really rich? Probably.
>>60950363>1% of my taxableWipe my ass with it.
50k is a very normal amount to keep in checking, especially as a homeowner. You never know when an essential 10-20k repair is going to come up. To a 20 year old college student yea it feels like "so much money". Lol. I was there at one time so I won't hate.
>>60954209>Are you really rich? Probably.Not really. I have a W2 job, a mortgage, 3 kids. Made solid financial decisions over 10 years or so but shits expensive. To me "rich" means you can have a second home, have enough passive income to not have to work, etc. I will be rich in like 10-20 years.
>>6095036350k is not life changing money so nothing at all
10k on a shitbox30k worth of btc11k worth of link
>>60953924Fool me once, shame on you...fool me twice, shame on me. I saved that money up from the time I was a child. I didn't know I needed to know how fiat worked...until it burned me.Don't blame me for being born into a retarded predatory system. Blame me for allowing it to continue.
>>60950368People are about to move millions into their checking and then just drop their receipts. While doing the Indian head Bob meme.
>>60954310I’m not blaming you for anythingYou have a victim mindset. I worked for 6 months after university and said “fuck this, working for money is too slow, I need compound interest” so I started investing, reading investing articles, making excel spreadsheets, and browsing biz. This was the summer of 2017. Best decision of my life.Genuinely wishing you the best, though. Stack sats and stinkies. Love my /biz/bros.
>>60954525> You have a victim mindsetYou're gaslighting
>>60950756>wifes phillipine peso account
>>60954233Then why do you have 300k in cash. But whatever. >but shit is expensive.Yeah, Bloomberg today said the top 3.3% are doing better than ever but the bottom 80% said it feels like we have been in a recession since 2021.
>>60950363Nothing, I have 60k in mine. Awaiting market crash or something good to buy
>>60954826I just realized this morning, most people will never make it. Only 8% of American have 1M excluding their primary residence. And even those people are not rich
>>60950431>working 2 jobs
>>60950756You could lose all this tomorrow and it’s not much in the grand scheme of things.
>>60954537Read your own posts, you whining faggot, and tell me you don’t have a persecution complex
>>60950363that's about $5 a day in interest simply not collected, absolutely shameful
>>60953755yup
>>60954826In the same boat I have it all in savings and I should be investing it in the market but I have zero confidence in the current market and would rather have cash in hand if shit hits the fan over here in the US.
>>60954116Do you have any Fidelity or SoFi branches you can walk into to deposit a check? Maybe I’m old fashioned. $50k @ 3% is $125 a month. Not autistic enough about minmaxxing passive income to worry about that.
>>60950375There are online Savings Accounts that give 4% or a bit more.
>>60952775Gold standard wouldn't have saved you. 200 years ago you'd be crying about how the gold rush stole your savings and the jews told them where to dig.
>>60954850Why did you ever think a majority of people would make it? It's only a tiny minority who make it. I'm a wage cuck with 500k outside my primary residence. Have a rental as well and a family of four but I will be waging until the day I die, and I'm considered rich but normal standards.
>>60956438Shalom
>>60950363Could be freshly landed funds.
>>60955667Do Amerilards really use cheques that much? It's been at least 10 years since I even saw one, and that was when my 85 year old granddad gave me some birthday money.
>>60950707is enough to buy a house in the cheap areas of north america
>>60950363If I'd kept all my money in my bank account instead of taking a bunch out and basically gambling with it in the stock market I'd have 6 figures right now instead of 50k as well. Nothing wrong with not doing anything with your money if you're a compulsive emotional retard such as myself, and the advice to do otherwise is extremely harmful imo.
>>60958097You should quit coming on here if you have a gambling compulsion, this whole board is cryptogambling now.
>>6095036351000 1 dollar hookers
>>60950363If you’re withdrawing from non-USD debit card, atms sometimes print the balance as USD, but it could be 50 000 Indian rupees, so like 50 bucks.tldrATMS don’t convert currencies
>>60950756>2012Wondering how much it is now. Did he go full degenerate and lived like a king or just kept stacking.
