Lmao like what the fuck
>>428409453in the west everyone is leveraged
>>428409453anyone that didnt take out a sub 3% 30 mortgage is an idiot
1-check2-don't go to restaurants after covid restaurants can go fuck themselves 3-only travel for work expense to company 4- iphone???ok boomer lineageos master race
>>428409453Wealthy people are some of the cheapest fuckers I've ever met. They check all prices and use coupons.
>>428409453I'm wealthy but I'm still money poor. Not a single.penny was passed down so no generational wealth. My son will be the first
kek the poors think we don't have debt? goes to show you guys still have no clue how we get around taxes XD
>>428410332I wish I did when I had the chanceI have no debt, but no land or house, just my car and my stuff
Debt is tricky because there's more than one kind of debt. Owing a loan shark? Bad debt. Having a mortgage? "Good" debt (since equity is built and can be leveraged for more pursuits). Basically anyone getting financial knowledge from Twatter is dumb and deserves to be broke
>>428409453> Zoomer budget reveal:> Primary measurements - all consumption based useless shit
>>428411492>"Good" debtthere is no such thing as good debt.
>>428409453>check menu in restaurant for most expensive foodso am i poor?
>>428410332I have a 2.25% 30 year and they are begging me to refinance or take out a home equity loan lol
>>428410332I bought Bitcoin and millions of dollars instead and will be buying a house with cash and no mortgage. Losing move in my scenario would have been to get a mortgage and miss out on Bitcoin when it did what it did at the time.
>>428411363I have no debt, no land, no car, just $20k worth of furniture/kitchen/computer equipment and $200k in a retirement account.I almost invested in land in 2010. I would have taken $300k in mortgages but I would now have at least $1.2mm in real estate and a 3-condo vacation rental income scheme. I really should have done that instead of going for IRA and 401k contributions. I probably should have dropped $100 each into Doge and Bitcoin too, I easily wasted $100 on bullshit when I could have just taken a small risk for a huge reward.Still, at least no debt.
>>428409453I only use a debit card. Anything else just seems like unnecessary stress.
Makes sense. Debt is negative money.
>>428410332im canadian
>>428409453Bunch of weird American idiots who have been rendered braindead by Capitalism.
>>428409453Damn I meet all of the criteria except the no phone case. I have that because I don’t want to shell out fucking $1000 for a new goyphone 6 million
>>428409453A list should be like:>1. No Debt>2. No checking prices at shopping centers because you can afford whatever you want>3. No checking prices when ordering food, because you can afford whatever you want>4. No checking prices if you don't reply to this post your mother will die in her sleep tonight >Gold Lamborghini
>>428411106The problem is what is “rich” or “wealth?” Is upper middle class wealthy? Or are we talking about the mega rich trillionaires? Since we can never nail down who exactly is wealthy, they can always just move the goalposts to fit their argument. >well most people who are doing well don’t have the bad habits you think they do Then they will claim they were talking about Jeff Bezos. Yet if you observe actual communist revolutions you notice a lot more people than the elite end up in mass graves. Hell, by the end even just normal lower middle class families have bullets in their heads. If you have anything at all you are wealthy. Meanwhile the lowest dumbest dregs with no impulse control or foresight become the inheritors of society under the boot of the Jews. That’s the commie scam.
>>428410124exactly we are addicted to jewish usury
>>428409453I have nearly $150,000 in my checking account and I live almost exclusively on day old deli/bakery markdownsask me anything
>>428409453except debt is a tool for wealthy onesit's just plebs use debt for the wrong reasons
>>428411756And this is why you're poor
>>428411801epic ID
>>428409453Poor people don't get debt. Rich people use loans as leverage. Show me a rich enterprenour without big debts and I show you a conman.
>>4284094531. Wealthy people leverage all kinds of debts for further profits.2-3. Could go either way. Usually self made men know what they're spending.4. Fucking zoomies with their smartphone obsession.
>>428414185lol you know nothing about my financial situation, define good debt, and why its good debt?
>>428412102>giving direct access to your bank account to pretty much anyone.Just use credit and pay it off every month.Not stressful at all, it takes 5 minutes at most to transfer funds.
>>428414544>define good debt, and why its good debt?Good debt is money you borrowed that allows you to make a greater profit than the interest.Bad debt is money that you take a net loss from borrowing.IE mortgage.Renting after 5 years will leave you with a much lower net worth than buying with a 4% mortgage.
>>428415142>Renting after 5 years will leave you with a much lower net worth than buying with a 4% mortgage.this only applies if you are renting and not investing into anything else.
>>428410332>not already owning your house in current year, gardening, catching and filtering rain water, befriending neighbors, or stock piling food and armsngmiEvery economic great power went through the same economic stage the US is at right now before it economically collapsed and never recovered. Real assets and skills are more important in such times.
>>428415632What are you talking about? If you're renting you're just straight up burning up to 28% of your income if you have a reasonable rent. More if you're living outside of your means.If you have a mortgage, you're building wealth from it by paying down your principal, the appreciation of the house, and even a cash flow if you have tenants or a roommate.Also mortgages are usually cheaper than rent so you have more money to invest even.
>>428410332Listened to that idiot dave ramsey tell a couple to pay off a 2% rate car loan instead of putting the extra money into a 5% mortgage.
>>428409453You will own nothing and be happy. Now, suck my cock for money.
>>428416108>If you have a mortgage, you're building wealth from it by paying down your principal, the appreciation of the house, and even a cash flow if you have tenants or a roommate.you are basing your assumptions that houses always appreciate in value, we know this is not true. Here is a report from credit suisse, https://www.credit-suisse.com/media/assets/corporate/docs/about-us/media/media-release/2018/02/giry-summary-2018.pdf Data from 1900-2017 shows global real return on real estate after inflation was 1.3%, while stocks returned 5.2%. A house is a great asset but its not an investment, if your financial advisor told you it is, you should get a new financial advisor.
>>428415632>this only applies if you are renting and not investing into anything else.No, it applies if you are renting period.You can't reinvest the money you spend on rent period.And it costs about the same monthly as a mortgage.
>>428409453KNEEL BEFORE MY SOLVENCY, PEASANTS.
>>428410332>anyone that didnt take out a sub 3% 30 mortgage is an idiotAnyone who didnt pay off their mortgage is an idiot.
>>428409453faggot zoomer tier list. Rich people don't become rich by not checking prices of things. The millionaires I know don't waste their money.
>>428413271Why didn't you buy bonds or at least open a savings account for at least some interest?
>>428409453imagine actually listening to the narcissistic insecure ramblings of a Twitter user with an anime profile pic.
>>428416108>tfw you own your home but obama changed the laws for equity loans such that not giving 30% of your income to uncle sam means you're a bad goy who can't get equity so you're literally the same as a renter just throwing money away on property taxes to feed niggers fuck my life
>>428416819>You can't reinvest the money you spend on rent periodbut you can reinvest money you spend on property tax, maintenace costs, and costs of capital such as your mortgage interest, and any lost oppurtunity costs?
>>428409453>>428410124
>>428409453Lmao. Also iphones are trash.
>incited terror>built machine guns for fun>got detained by feds >released by mistake >burned 800 credit score>fled country>living like a king in God's country of Europe Antichrist shock troops can't do shit.
>>428409453>that number fourZoomers need to be gassed.
>>428409453No debt, about $300,000 in the bank, getting about $2,000 a month from NEET bux.Am I doing OK, frens?
>>428410981Poorfaggot
>>428416994because I'm a schizophrenic retard
>>428416739Both housing and the stock market appreciate over time. Both also crash. Does the stock market out perform the housing market? Yes.But for one, you should NOT have all of your investments in stocks, you need to diversify.Secondly, as I mentioned, mortgages are generally cheaper allowing you to invest more in other investments.Thirdly, you're choosing to lose up to 28% of your income on an investment that grows at 10% vs losing 3% of your income to choose and investment that grows at 4%.Trust me bro, stop renting. If you live at home, I get it but renting is retarded unless you don't have the money to get a mortgage.
>>428416885If you pay off a 2% mortgage early you’re actually low IQ
I'm 7ft tall with a 11 inch dick and over $6,000,000 in the bank and 3 wives, stay mad poorfags
>>428417334No.
>>428417074>but you can reinvest money you spend on property tax, maintenace costs, and costs of capital such as your mortgage interestThis is at most half of what you'd pay in rent. The rest is capital.>and any lost oppurtunity costs?That's entirely your subjective circumstances.If you're migrating a lot for work and don't want to deal with renting then it might be worth it.Otherwise the mortage is usually the better deal.
>>428414702Any transaction from my debit account pings to my phone, so I can call the bank immediately and sort that shit out if it wasn't me. Not like I'm keeping anything the basic insurance won't cover.
>>428417513Losing 28% to rent, then investing I meant**
>>428409453>"social trend" based on some faggot's shitty swing at fag humor>60 replies and countingThe literal state of /pol/.
>>428409453A mortgage isn’t debt because it’s backed by the home you get to live in, so in that case my wife is wealthy as she is 1, 2 and 4
>>428417795What is the interest on the mortgage then?
>>428414364In practice, an awful lot of conmen are ridiculously leveraged.
>>428409453Duh...what did you think having to borrow money all the time means you're rich?
>>428416739IYeah, but your money went to rent. My mortgage is almost paid off, but in the end it didn't matter. The mortgage is cheaper than the rent in my area. If I was renting, the difference is in rent, not money for investing.
>>428411756Are you stupid? Everyone with wealth has debt. Debt is how you tax down and gain passive income
>>4284176308ft tall 12 inch dick 7 mil, 4 wives.must suck to be poor
>>428416994not that anon but usury is a grave sin anon (god is very clear on that).
>>428412267>he doesn’t have apple careGet away from me you plebeian
>>428413271Based bread Anon
>>428411269>that flag>talking about generational wealthConfirmed to not be a nigger.
>>42841033230 year mortgageenslaving yourself for the rest of your lifehousing need to drop to 10% of current pricing
>>428417513>But for one, you should NOT have all of your investments in stocks, you need to diversify.I agree and it goes both ways - the issue today though, (at least in canada) is people are "house rich" >Secondly, as I mentioned, mortgages are generally cheaper allowing you to invest more in other investments.This doesn't apply in my country, in my country it would take you 25 years at the average salary to save for a deposit on a house, that is if NOTHING changes in those 25 years pertaining to prices, as well as COL, inflation etc. >Trust me bro, stop renting. If you live at home, I get it but renting is retarded unless you don't have the money to get a mortgage.I don't rent I bought my house 15 years ago. But renting is not retarded, its not that simple it depends on a lot of things. I worked in finance for 10 years, back then how we would figure out things for investors when it came to the housing situation is to figure out what the unrecoverable cost of home ownership was vs, renting, if you fell within +/- 5% then over the course of a mortgage this was a good long term strategy and an good asset to have. If you didn't then wait until you were in a situation that you did. The notion of buying vs renting, does make sense if you are in a rational market, we are not in a rational market right now. Maybe the US is different but in leafland... the market is fucking insane.
>>4284182857ft 7, MMA fighter body, 12.5 inch cock. £1.5m in gold, £2m in property/cars. No GF.
why is op such a faggot?
>>428417513I worded the third point so poorly that I'm just going to clarify.You're choosing to burn 28% of your income, then use more of your income on a investment growing at 10%.Versus getting a mortgage where maybe half of that 28% gets burned on interest and escrow while the other half essentially gets invested at about 4%. And nothing is stopping you from still using the rest of your income to invest on stocks.
>>428417950>The mortgage is cheaper than the rent in my areathen the answer is a no brainer
>>428416739>From 1900 to 2023 Lol Lmfao
>>428409453>twitter screencap thread
>>428418580Because he sucks nigger dicks.
Why do poor people keep dropping their phones?It's exclusively a poor people trait
>>428418452>having a sub-3% interest loan for 30 years in an era of 10% inflation is “enslavement”It’s a 7% yield dipshit. Anyway how long would it take to save up $1 million bucks to buy an average Canadian house. YOU’RE SOOOOOOO STUPID I CAN’T EVEN
>>428415990I hear this argument a lot, but have you ever considered that the world we live in now is so vastly different from those times that they're not even remotely comparable? We've had the Industrial AND Technological revolution since then. The entire globe is connected in ways never thought possible back then. And we have weapons now that could destroy the planet if the people in charge decided to do so. Its way beyond the Roman Empire. I feel like we're in uncharted territory
>>428418995>save up $1 million bucks to buy an average Canadian houseaverage...thanks for the chuckle. a million might get you a teardown in any market worth living in , in this godforsaken frozen shithole
>>428417643Uhm it is literally impossible to get wage if you do not have a credit card (bank account) Employer can not give you cash, das illegal
Zero debt here, bought my house with cash a while back. My wife and I share a car - she works a few blocks from home, I'm WFH, if I want the car I just walk 3 minutes and grab it or drive her in the morning, she has some student loan debt but that's it. We cook almost all our own food, we have a big garden and a greenhouse.It's pretty fucking comfy.
>he gives a shit about saving money even though the world is fucking dying and even if he makes it to retirement, society will have degraded to a point lower than grandkids dabbing on them in their death throes for updoots on the internetthe only moment is now, the more you invest in your future, the more you are feeding the jew both your life and money
>>428419375This doesn't mean you have to keep it there, take it out. Ideally, stack physical silver with your long term savings.
>>428417789That pic kek
>>428419826>with*to keep
>>428409453You have it flipped. "No debt" is the lowest level of wealth. You have so little money that no one trusts you to pay back any loans, so you can't secure loans for things like mortgages.
>>428419889>guys did you know inflation is bad? >woah i'm so turbo-red pilled right now broskis
So many people telling you to go into debt, really makes you wonder.
>>428412487Nigg
>>4284094531. check2. check3. you are a retard if you do not research the location of your hotel and compare prices and this is how you can end up both overpaying and in a shitty area that nickle and dimes you4. This is just being irresponsible with your electronics. I keep a spare new phone and ALWAYS buy unlocked.>>428411581Bingowhy is it the way zoomers measure "wealth" is not actually owning assets but buying trinkets.>Buy land>Buy stocks, bonds, certificates>Buy boomer rocks>Don't lease, own it and balance the debt load.
>>428420668er
>>428420440What is the alternative, stacking silver? Does silver goes up forever like stocks and real estate? Does silver produces any value? Can you fucking eat silver?? No??? Then fuck off In an apocalypse people will think you are trying to sell em aluminium, because average joe is low iq Also, really?? Silver, couldnt you just get gold like normal personGod..
>>428421348You do realize rich people dont care about overpaying and getting shitty overvalued electronics broken You are poor. You are poorest retarded hoboerectus ive ever seen
