Zoomers, listen

A wise man.

Attached: 0193839101938.jpg (1440x1650, 834K)

What the fuck are you going to do with enough money to buy a used Toyota when you're 65 in 2064? And don't say buy a used Toyota!

You're in college from 18-21, and then once you graduate you have student loans eating up what you make, not to mention rent.

Step 1: Don't be a burger

some rich chink on youtube once said you don't become wealthy by obsessing about saving, that is what poor people do. you become rich by doing.

Attached: 1511414998837.jpg (600x600, 57K)

>65
heheheh

Step 2: Don't listen to chinks

Let's do some math.
65 - 20 = 45 years
1 million / 45 = 22,222 per year

This is the 10%, so 10x this is 222k that you need to be making per year. This is after taxes, of course. So Kevin Oleary assumes that the average 20 year old kid has a job with somewhere around a 350k before tax salary.

Oh yeah, I can't wait to spend my millions when I'm old and cant even leave the house

You shouldn't let those 10% lie in cash under your mattress you brainlet. Put them into something with dividends and after 45 years they'll grow substantially.

I think he assumes compound interest.

I'm bad at math, what is
>0 x 0 = ?

Not doing. Owning. Which a big part of owning is doing, but it’s an important distinction.

Fuck Kevin O’Leary though. My 2.50$ coffee is a daily comfort.

Wooooow 1 million dollars at 65?!?!?! We are all gonna make it guys! We will be millionaires!

Attached: 53f.jpg (196x250, 8K)

Or live with your parents, put aside 90% of everything you earn for 10 years then just retire when your parents die

success

Attached: 1495395586821.jpg (320x375, 17K)

>assuming the stock market ponzi is going to sustain itself for another 45 years

The answer is 0.

What do you mean though? Do you mean people in their twenties are not earning anything (0) or that people are not saving anything (0) and people are earning 0% interest?

>just look him in the eye and give him a firm handjob

Let's do some real 'math'.
In the UK, an average grad job you can reasonably have NET £20k starting. At 65, let's realistically assume you make £57k NET (80-85k gross). You save 10% of your net income each year, and each year the amount you save increases by £80. Assume an annual effective rate of interest 2%. The present value of the cashflow is equivalent to the pv of an annuity certain with payments of 1920 for 45 years plus the pv of an increasing annuity with increment 80 for 45 years. This is 1920x(1-v^45)/i + 80x(\ddota45 - 45v^45)/i, which comes to 103105. To find the accumulated value multiply this pv by 1.02^45, resulting in £251355 total 45 years from now. I've been pretty conservative with the interest growth here to simplify so I'd feel comfortable with interpreting this £250k as being adjusted for inflation.

An intelligent post on biz?
Inpossibru!!

250k ain't no 1 million

Okay lets do some real 'math'

19+12= 31

think ive seen the chink youre talking about and he once did an interview talking about all the business failures hes had in the past and of those of his friends.
the gook failed to connect important dots, his advice seemed to omit that risking everything on a venture proved suicidal almost always for himself and the people around him.
the real source of his eventual success was mass chinese immigration into canada and his ability to speak to both them and the locals having grown up there. he obviously had no hand in organising mass immigration as a poor youngster trying to make it in the west and its something that not everybody who hes telling to go out and risk it all could ever be in a position to take advantage of, yet he continues to bask in his own glow as a business genius attributing every success to his own effort.

Kek. Wageslave and shave every penny for 45 years, hope you don't get unexpected major expense, hope a world war doesn't break out or something else to collapse the market, rely on your wife and kids to not have a major financial fuck up or stay single, all for the grand opportunity of 250k at 65 years old. 8 whole years to hope you die by 73, scraping by on 25k a year.

No thanks. Going high risk high reward your whole life is better ROI than that shit unless you're making 100k by 30-35. Fail? Bankruptcy, try again. Retirement? Gov bucks. No gov bucks? Then something major happened and the guy who put 250k in index funds is just as far up shit Creek as you are.

This 100%.

Most rich people made their wealth getting in early on something being backed and pumped by gov or banks. The US picks winners and losers. China picks winners and losers. Name any big successful company or industry boom and 99/100 I can find where it was given legs. Anyone else who's mega rich are just leeching off the broader ecosystem taking from companies who didn't deserve it or the gullibles who don't know the real system. Think, the mark Cubans and tai lopezes of the world

With a spouse's income, tax advantaged pension contributions, company contributions, inheritance, living with parents and by saving over 10% you can end up with a decent bit more than £250k by retirement. Just don't forget to live your life in the meantime, and play it safe on the market unless you have a safety net.

The state will bail you out by the time you hit 70+ even if you have next to nothing saved for retirement.

He's a self interested wealthy dude looking to save himself some tax money. A zero or hero investing/life strategy is the only sensible path in the political environment. Otherwise you wagecuck for 40 years to make ends meet as the rich and poor leech off your labor

Why's everyone on user boards so cryptic? Just say his damn name!

Attached: A39AE497-C56D-4EBE-AC0B-26584F8F02CD.jpg (576x322, 54K)

i dont know his name.
let me google what i remember

NOPE. theres a billion canadian chinks on youtube, cant find him

>Most rich people made their wealth getting in early on something being backed and pumped by gov or banks.
this is true desu. the idea of the 'self made' mega rich is a hollywood thing, its an american fairytale.
the underlying reason for pushing the story is to perpetuate the myth that the middle class have their interests aligned with noseberg and theyre right on the brink of making it huge.
thats not to say you cant become extremely rich, very comfortable, a mid tier millionaire etc, obviously you can with hard work and a bit of luck but getting into the upper echelons is something entirely different.
consider that facebook, google, apple, amazon or whomever never actually invented anything new, yet through the backing of the courts and patent office they have accumulated a million smaller companies beneath them that should all have had a share of the market in a fair world.

I should also add, the working/middle class being tricked into believing the patent owners and megacorps on their team in no way means that their interests are actually aligned with the nigger tier underclass.
Both groups above and below are the enemy.

That's why I dropped out after a year and got a job. Now my small college debt is gone and I've got 4 years of professional experience so far

>Spouse being net positive contribution
>Expecting spouse to save
>Betting against divorce rape

I'll give it to ya though, if your parents live In a high income city and don't mind you mooching until you're 35, with vigilant savings it's feasible to get a rental property or two in the outskirts going and propel from there. Good luck with your mental health though when you try dating leftover bargain bin roasties who sacrificed nothing.

It's too late for class warfare. That ship sailed twenty years ago. Notice people stopped bitching about food stamp/welfare abuse, quasi monopolies, and the deficit? Cause its a pebble in the bucket, and there's no turning this ship around. Every bit of growth is from printed monopoly money, or shifting people around the world to get more output at a lower price. Anything other than stress testing the system or opting out is unpatriotic.