my parents did not invest in their life at all and are now destitute boomersthey're 70 and live fortnight to fortnight on a government pension and are constantly living on the edgekinda feels weird to have parents in this situation because everyone talks about how rich boomers but mine live like broke college students
>>62541055what the fuck have they been doing for the last 50 years?
>>62541056Same thing as this retarded board and you will be even worse off than them.This is not an insult, just a warning.
>>62541056thats the funny thing, didnt feel poor growing up, we had a nice house, nice things, always the latest stuff, never went without, infact i remember other kids coming over to my house back in the 90s because we always had the latest stuff, first family in the area to get the latest gaming console, first family in the area to get a desktop PC, first to get a cable internet connection, etclooking back now I realized we only had all that stuff because my parents were spending 100% of their income on stuff, and not investing anything at all, while other people were investing in assets like property, stocks, etc
>>62541058my parents have never done any type of investing, and have never done any type of gambling, so i dont see how its the same thingthey just consoomed with their incomes and once their incomes were gone when they were too old to work they became poor
>>62541058>Same thing as this retarded board and you will be even worse off than them.seems unlikely considering i make an 85th percentile income and invest ~75% of my net pay. incel chud freaks will inherit the earth.
>>62541068>>62541070if you actually dig through your retarded boomer parents lives, you will find many negative investments like buying shit they don't need and selling it for few thousand dollars less and being happy they didn't lose more, sound familiar, faggot?
>>62541082No, they never invest in anything. They dont care about investments and the few rare times they ever spoke about the stock market, they called it a scam.
>>62541086moron
The only example I could give is like, they would buy Nintendo 64 games for us, then my dad would immediately throw out all the boxes and manuals, so we only had the game cartridge, then when we stopped using the Nintendo 64, he immediately sold them for a few dollars each So they never held onto anything from back then either, they dont understand collecting stuff or anything.For example there is a lot of stuff from the 1990s they bought, which they sold once it was "boring" for us. They weren't like some boomers that kept their video games in good condition and kept them forever. The moment we stopped using something they bought, they would get rid of it, either sell it or throw it out.Yes if the hoarded all their stuff from the 80s and 90s, they'd probably have a lot of expensive collectables, but as i said, they never kept anything once it was stopped being usedBut that wasn't to get money back or anything, it was more so just to clear out the house, they didnt like keeping stuff around that wasnt being used, and many of it just went into the bin, not sold
>>62541091"You will find many negative investments like buying shit they dont need a selling for a few thousand dollars less"They never bought anything as an investment, consoomed.
>>62541086>>62541091>>62541101>>62541105i just gave you an example of what my dad did anytime he'd get us a new N64 gameboxes and manuals immediately thrown out into the bindoes that sound like someone buying it as an investment?
>>62541105>>62541110Everything you buy is an investment, nintendo games clearly were 100% loss both financially and intellectually, because you cannot conceptualize that any commodity that you buy and could resell later is an investment, for example a car, a boat, a plane, a house...
>>62541055Get rekt boomer
>>62541253>Everything you buy is an investment, nintendo games clearly were 100% loss financiallyyou have easily the most retarded definition of investing on this retarded board. congrats.
>>62541101Boomers really are universal t my dad gave away all the rare first edition pokeman cards i had even when i said they would be worth money in the future hundreds of em must be worth a fortune now
>>62541101You're replying to a salty bagholder
>>62541503Yeah I told my dad this>You know all that stuff you use to throw out is probably worth 6-7 figures nowAnd hes answer is "everyone used to throw out stuff once they weren't using it anymore, most people aren't hoarders who keep stuff"
>>62541514lol
>>62541503>>62541519The pokemon cards are 'worth something' (they're not, but thats what you kids think) precisely because you or your boomers threw them away. Do you unserstand that? And your dad was right, hoardinf 90s toys is for massive fags, and any gains on them are only attractive to mongoloid morons. My friend gets excitrd over $100 sloptendo games like fr dude? I can wipe my ass and get $100
>>62541519lol thats exactly the line he gave me>If you don’t use it. it will just fill up space better to give or throw it awayI think it is because they grew up in a time they never lacked anything.
>>62541536i mean yeah it makes sense that there are Nintendo 64 games in box in good condition selling for like $50,000 or $100,000 because maybe my dad is right, most boomers just immediately scrapped the box and manual immediately, so a lot of the value in these games purely comes from the fact it's rare that someone kept the box & manual, and ultra-rare that someone who kept it, also kept it in good condition
>>62541536Thats not to say boomers made many retarded choices, but it's by design. they were allowed to. If you fucked up as a boomer on a $10 paying job there'd just be a $12 paying job waiting for you elsewhere next month. Today if you fuck up you can't pay rent and you die because there is no margin of error so to speak.You would likely have acted exactly the same ironically
>>62541536He litterly threw away atleast 300 thousends euros and they were all first edition glitter cards so double that number. Dont give a shit really but it would have been nice to have the cash
>>62541545yeh all the n64 stuff was sold at a swap meet in 2000 when we got the ps2"you kids aint using the n64 and u have the ps2 now, so im gonna go practically give this away to someone"Also had a lot of pokemon cards too, but again, all gone once we "stopped caring about pokemon"
>>62541536>>62541519>>62541545>>62541549>>62541553This has me wondering now then.... since everyone collects stuff and keeps it in mint condition these days, doesn't that mean all the stuff people collect these days is not gonna have the same kind of growth in the future because millions upon millions of people are hoarding stuff in mint condition now expecting to repeat the same kind of gains collectable stuff had from the 1990s until now?
>>62541549Exactly. And that's why hoarding shit now for speculation is kinda retarded, because everyone is already aware that it can happen. There are some fake markets like lego but theyre propped up by artificial scarcity and retardedness. The cohort of ppl who appreciate it will die out. Nobody gives a fuck about Popeye today. That was a huge cartoon. Theyre buying turtles figurines now but those fags are also 40+ and dead soon. Super mario will sell his ass for crack on the streets when this nostalgiafagging generation is dead. (Mario may have some sticking power but you know what i mean)
>>62541558It’s a universal trait of that generation atleast here in Europe it’s insane how economically illiterate they are on average.
>>62541569Yep, that's the way it be. Perhaps you'll make bank selling "used" quality and uniquely malfunctioning units kek
>>62541569Depends on what they have and> since everyone collects stuff and keeps it in mint condition these daysThey don’t
>>62541572The 2000-pound Popeye statue was bought by the billionaire art collector, Steve Wynn. The world's most valuable Popeye statue retails for $28 millionYou say what now?
>>62541591The problem is, it has to also be popular today in order for future nostalgiafags to salivate over it. Random ass Adam's Family games would be worth fuckin $0 if it wasnt for the snes/sega cult keeping prices elevated because theyre a large cohort of nostalgia virgins
>>62541603Ah, the 2000 pound statue, available to many consumers . We all had one. Yeah cool find with your AI but nobody talks about popeye and nobody is makin money on popeye
>>62541607This shit always loops in a cycle its like marbles one generation it’s cool again and then it’s not and then it is again. We’re not talking about stock options here we’re talking about keeping something in a box and not fucking with it it’s the easiest thing in the world. Like start buying original SpongeBob merchandise for an apple and an egg it will eventually get popular again. As long as you keep it in a box and don’t fuck with it
I would concede its still possible, just in different waysPerhaps sealed nokias or iphones or those earpods. Whatever. Toys are dead. The peak of toy mania was Toy Story. Consider thst film the peak of the toy industry. Only downhill since thenHoping gta6 will do the same
>>62541055>>62541056My mom is 69, has $4k in savings. Collects $930/mo in Social Security before Medicare deductions. Works as a waitress.My dad is 63, has $7k in savings. Doesn't get Social Security or Medicare yet. Works in a woodmill/factory.
>>62541612its the most exspensive its an example others smaller ones and lunch boxes go for 30.000+ it is still a thing
>>62541642Oh. My mom's car is paid off though (built in 2016). My dad's truck will be paid off in 6 months. He still owes 9 years on the mortgage though.
>>62541643Fair enough. /biz/ would be profitable if we all banded together to corner the Popeye market. I just dont like holding that garbo. Nostalgia is a poison. if you find ways to capitalize on it, power to you. I mostly feel sorry for everyone involved. My friend is big on collecting and selling snes era garbage. It's sad. He could be doing other things. Most 10-baggers or better are truly rare items. Adjusted for inflation, most things have barely kept up or possibly lost value.
>>62541638>NokiasFunny you say that the originals are getting popular again have about 10 of em gonna wait till the trend mania hits peak to sell
>>62541677> I just dont like holding that garbo. Nostalgia is a poisonIt’s about making money just buy things that will have nostalgia value in the future like rare SpongeBob crap for cheap and put it in a box. And wait it’s litterly that easy
>>62541055The propaganda that boomers are rich is communist bullshit. Rich outliers skew the averages.Of course, the people that have been on the planet 30 - 40 years longer than you have more assets. 30 years from now Gen Alpha and Gen Beta are going to claim all Millennials are rich and "hoarding the wealth".
>>62541483Go tell that to your father who bought a boat, fished three times, realized he doesn't like it, and sold the boat at the loss.
>>62541687Kek Theyre especially good I guess because the goyim didnt know to save them yet. Hope you make it ser
>>62541724Yeah but people like my parents, who didn't invest into any assets, are just as poor in their old as, as a college student on welfare.Seems like any boomer who put their money into pre much any asset are now well off.
>>62541055If your boomer parents did the bare minimum and invested just a measly 10k in the shit and piss back in the 80s they'd be millionaires today and yes I do regularly get furious thinking about this
>>62541730A father taking his son fishing on a canoe creates great memories.
>>62541055My dad killed himself at 66, broke. You don't get any life insurance payout and I had to pinch in a couple grand for funeral and clean up costs. Definitely disheartening
>>62541750I'm sorry for your loss, Fren.
>>62541724Nigger on average here in the Netherlands they were rich i saw fucking retards get rich in those times you quite litterly only needed to show up. A fucking mail man owns a million euro house in my neighborhood. You have no idea how good we actually had it.
>>62541744My parents think the stock market is a scam
>>62541732Yep the original iphones and iPods are next I think after this trend you know if everything doesn’t turns to shit and the civil war doesn’t kicks off in the next 10 years ( doubt it)
>>62541760Yeh it is the same here. There are low IQ boomers who worked working class tier jobs that didn't require any education or special skills, that live in paid off million dollar homes.Which is why its embarrassing to see that my parents failed to do this bare minimum.Its not like they couldn't have done it, they could have easily done it.My mom said they had a $22,000 deposit for a house in 1985 and were going to buy a house for $70,000 - but they decided last minute to just keep renting because it was so much cheaper to rent and that they would delay buying a house. That house today is like $2,500,000.
>>62541750My condolences
>>62541743Yup. But my parents made multiple dumb decisions. My dad was married twice. Mother was married three times. Dad had to pay child support for 2 of his 3 kids. Neither of them invested. Dad had some investments before 2008. Then lost like 50% of his assets in 2008, pulled out and never invested again. My dad still tries taking out loans for shit and I constantly have to stop him from doing it. He also drinks a lot, but he did quit smoking and went to Zyn, which is great.Both of my parents were huge partiers from 18 all the way into their early 50s. I had my fun, but I grew up by my mid 20s.It is what it is. I still love them both.
>>62541764My dad got a 300k settlement a few years back and I'm pretty sure he's already blown through most of it but I'll tell ya one thing he hasn't invested a single dime of itLike at least put some of it in a short term bond ffs man
>>62541055my parents are going to end up the samei still say fuck social securityif you fail to have any financial responsibility whatsoever for your entire life then fuck you
>>62541800This scares me.My mom has 1 surviving parent left, thats almost 100 years old. She owns a $2.5-3M dollar home.My mom will be inheriting 33% of that value.I've been relentlessly telling my parents that they should immediately buy whatever house they can afford to buy when that inheritance comes... they keep saying stuff like "reee we dont talk about inheritances like that, shes muh mom" nigger shes almost 100 years old.I am terrified theyre gonna get that inheritance and end up wasting it all and go back to being in the same position theyre in now.... kinda like your dad did.
>>62541793All those marriages and divorces pretty much destroy any chance of building wealth dont they?Well my parents dont even have that excuse, theyve been married since the early 80's
>>62541789Yep it’s insane again I think they are that way because they never lacked anything growing up in a cohesive homogeneous society they thought things would always get better or atleast stayed the same a normalcy bias.
>>62541055Happened to my father but not my mother (yes they are divorced) the case with my father is he basically been living a gigolo lifestyle his whole life while being in and out of the military, he didn't do a fully 20 years so he doesn't have a proper military retirement. He can't live like he did now in his 60s, he's basically fucked and didn't invest in anything despite being born in one of the best periods to generate wealth.
>>62541916>>62541916yeh they thought they had all the time in the world to buy a houselike i said though we lived in really good places growing up in the 90'sit was very cheap to rent back then, like you said they probably thought that would last forevertheyre currently renting what is basically a shoebox because its all they can afford on their senior citizens pensions
>>62541933Checked hope you atleast learned something from it so you won’t end up in that situation when you are that age
>>62541951Well the lesson isn't really that impactful now because everything is so much harder in general and everything is already inflated massively, globalization and internet becoming wide spread & fast enough has priced everything in at an accelerated rate. Purchasing power from incomes is also dog shit compared to my parents times.I can learn from their mistakes but I cant magically undo how its become nightmare mode for the average person to build wealth.
>>62541253So the word for that would be "consumable"
>>62541569People tried just that in the 90s with comic books. They saw how valuable old comics became and wanted a way to make that easy money. People started buying four copies of the same issue. Then the Internet showed up and kids stopped reading comic books. It was a total flop. Most of the time hoarding things because they might appreciate in value turns out to be waste of time and money. That's why people throw out junk. Look at the beanie babies for another example.
>>62541055Just wait for 3-4 generations after zoomers when the younger generations find out that the destitute old zoomers were putting delivered fast food on BNPL and sports gambling when they have the easiest access to financial information and automated investing in all of history.
>>62541969>how its become nightmare mode for the average person to build wealthYou dramaqueers are dooming urselves into poverty
my parents have had their mortgage double to triple the principal in the 30+ years they've had itthey inherited property and sold it to buy it, but just didn't pay it offthey use their overdraft like credit and pay like 30% on itthey have bills like 100+ for a landline phone, 200+ for satellite tv
When you grow up in a world of abundance, you spend money frivolously and never invest because it seems like the money train will never end. My dad is in his 60s, makes $130k+/yr and has no retirement aside from his home. My mom makes $270k+/yr and doesn't invest at all either. All her money is in a $750k home she bought in Portugal. She lives and travels around Europe a lot. Neither of them invest or know how to invest. Their idea of investing is putting money into a bank account and letting inflation erode it away.
>>62541063Sounds like they provided you with a great childhood and enjoyed the best years of their lives. Do you think it was worth it?
>>62542045He is right tho after all the essential bills are payed most people almost have no money left and it’s getting worse.thank god I saw thi shit back in the early 00’s and prepared accordingly I feel for the zoomzooms
>>62542129invest your daily starbucks coffee into S&P500 instead and you will retire with 6 figures minimum, retarded subhuman.
>>62541730investments make money over time.
>>62542601Wrong. Investments produce returns over time. Those returns don't have to be monetary or compounding.
>>62542713i invested in a sandwich yesterday. it made a return as shit today
>>62542751That's better returns than your day trading adventures, so don't be smug, retard.
My parents are in the same boat. Will leave me 0 inheritance, so I've given up any chance to have kids. Fuck that. I'll just continue saving every penny and retire in my 30s to Vietnam/SEA in peace
>>62542772there are no better or worse returns, since the monetary value doesn't matter according to your definition of investment. Either way the needle moves i am making 'returns'
>>62542851>NPC short circuits from nuance
>>62542872Define investment. Then, define asset. For fun, also define returns. Go.
>>62542935Just read the dictionary, retard.
>>62542944dont backtalk me, bot. now, re-read the previous prompt and make no mistakes.
>>62542998The only mistake was looking for intelligence in an NPC.
>>62541055Yeah mine are the same essentially>Mother divorced dad after taking out a full line of credit on the house gambling and losing it all on penny stocks>remarrys way later to now stepdad>guy had a fully paid off fully owned house and was retired. She literally married into the lucked out goldylocks tier zone of perfection>could have just quit working retired modestly and lived off his pension>convinces him to reverse mortgage line of credit the house, maxes it out at value of the house 200k>gambles and loses it all on pennystocks, in the hole 200k>Still lucks out on canadian market, big boom house QUADRUPLES in less than 10 years>worth 800k>Bitches and complains about how terrible the house is and how terrible the neighbors are, makes up drama headcanon all the time (was old but amazing property, literally no neighbors, rural Canada, enough space to live etc>spends like 50k renovating it to be like original house she pissed away with my father>after doing a bunch of retarded renos which add 0 to the property value since canada is so inflated this type of shit doesnt really matter anymore, house is a house pretty much no matter how nice or fucked it is here people will just tear it all out and put their own shit in anyway>sells it 200k under market value(600k after I told her to leave it at 800k and wait), takes the 400k they net which should be 800k if she wasnt a retard and buy some POS house in town which is far worse and more retarded than where they were living and FAR more expensiveThat's where they're at that I know of I am nearly 100% sure she has likely reverse mortgaged the bitch again and is fully in on penny stocks again, its just her way. even my sister who is a materialistic whore is like "wtf are you doing retard?"
>>62543055hopefully you made some returns in your journey
>>62543068lol ur mom is a trading degen?thats better than never investing and never having a chance at all
>>62543236I guess but if she had never invested she would be set for life. I'm not sure what she's chasing because even if she made 10 mil she'd be unhappy and miserable still. She's never going to make any money she doesn't understand trading at all and refuses to sell when she's up.
>>62543260NPCs will do anything but boglehead in global index fund.>bogleheads some meme stock or shitcoin instead
>>62541055I live in public housing that was initially built for young working people to raise families in, but it's filled with failed Boomers and graying Xers who basically squandered their prosperity. They made nothing of themselves, and have become expensive burdens on society. Most of the retarded, entitled old fucks don't realize they pay a PITTANCE in rent ($500~800/month) while young people with jobs have to pay $1200 or more. In terms of mental development they're like prepubescent children.
