Investing to become a millionaire in 2021

typtre

Woodpecker
Why not a little bit of everything?
I would stay clear of US stocks and bonds though.

George Gammon for finding an expert at all those topics. Jason Hartman for real estate. Real Vision and Macrovoices for the big picture. Mining Stock Education for commodities and natural resources. Rich Dad Radio Show. The International Man, Capitalist Exploits, Sovereign Man and Katusa Research for news letters.
 
And then what comes next? The leftist woke mania ravaged corporate America. Now we all have to go into the office and support this demonic leftist wokism. If you dare speak out against it, you are the first to go. I am also a middle aged white male, I know I am the last to be hired and the first to be let go. Add in the H-1B visa fraud that is growing by the year, and the mass immigration driving down wages, I am still working for that financial freedom. The financial freedom to actually enjoy my life, my service to Christ without having to mouth woke talking points that crush my soul. The freedom to know I can take vacation time at work and not look over my shoulder hoping that it doesn't put me on a list of "not needed".

I understand your point, that we should not serve wealth, that wealth will not bring us closer to God. But wealth brings us further from the satanic influences ravaging corporate America or from being laid off and having your life destroyed. Worse yet if you have children and your job loss caused them trauma that impacts them for their life.

There is so much truth here. Meritocracy and Natural Law in any sense does not exist in the workplace. There is no incentive to work hard when the game is rigged by feminism and political correctness in the corporate world as well as high taxes/student loans, it's just a waste of a life. I have multiple female managers earning 30%+ more than me and are barely competent but can play the office politics game so can survive for a long time here. Add that with literally weekly emails and meetings on diversity quotas etc. If someone doesn't work in the Corporate World, they wouldn't understand how bad things are. Best to save your money and get out ASAP.

My approach is to build a decent side business and then live a peaceful life in solitude.
 
There is so much truth here. Meritocracy and Natural Law in any sense does not exist in the workplace. There is no incentive to work hard when the game is rigged by feminism and political correctness in the corporate world as well as high taxes/student loans, it's just a waste of a life. I have multiple female managers earning 30%+ more than me and are barely competent but can play the office politics game so can survive for a long time here. Add that with literally weekly emails and meetings on diversity quotas etc. If someone doesn't work in the Corporate World, they wouldn't understand how bad things are. Best to save your money and get out ASAP.

My approach is to build a decent side business and then live a peaceful life in solitude.
Yes, so very true. And it isn't just about "its not fair", and it certainly is not fair, it is so much bigger than that. 30 years ago, boomers would say "well it isn't fair but we have to suck it up". We are so far past that point now.

I would be so happy if it was only just not fair, or someone incompetent got promoted and paid more than me. If I could still have some job security, and a decent paycheck, and be treated like a man at work, I would too suck it up and just live with it.

It is now that I will be expected to do my, and other's work, and at the same time know that not only will I be passed over, I will be the first to be let go due to being a white male. And if I am let go, I will be one of the last hired due to being a white male. And this is after I am treated like garbage by young women and other co-workers. Whether it is them giving me weird looks because I might be a threat, to them outright screaming and blaming me for anything and everything. In the office it isn't nearly as bad, but at my side gigs it is reaching levels I never thought to see, and I can sense it getting worse month by month.

If I were to actually speak up and defend myself, I would be likely to lose my job or at a minimum have a complaint filed against me. It matters not who was in the right, it is just another excuse to get rid of me and hire more diversity.

It is soul crushing. But it pays the bills and it slowly will buy me freedom from the migraines I receive and being exhausted and the other affects.

And the biggest reason of all to build wealth is that if it is THIS bad in 2021, how bad will it be by 2045. If I do have children, I don't want them to have to face this existence. I want to pass on as much to them as I can so they can avoid being treated this way. I am so blessed to be as old as I am, because the fact is that as bad as it is, I am at the end of this journey. So I too actually missed out on a lot of the worst of it.
 

Papaya

Peacock
Gold Member
Having wealth is better than not having wealth. Thats a certainty IMO.

But the "freedom" it provides is likely different than what you imagine.

I remember when I sold my first company (Ive built and sold 3) that there was an immediate shift in awareness from pure "offense" to "offense and defense". In other words while I was building that first business it was strictly full speed ahead. The second time while I was no longer personally "starving" I distinctly remember being more risk aware.

Once you acquire wealth you now have to consciously defend it: tax strategies, asset protection, trusts, etc.

Yes having money is better than not having money and provides certain freedoms but having a lot to lose is in of itself another form of bondage
 
Contemplate purchasing an existing business. Some of them have incredible profit margins and you might see the cost recuperated in a year or two.

There are many blue oceans because the owner is out of touch and does not realize that his seemingly dead end company (like a book making company), has enormous market potential were he to exploit the correct audience. Most owners do not understand the incredible potential inherent to emergent social markets and the fact that this applies to all industries, even those that are supposedly outmoded. We are living in a time when people can monetize homesteading, not even doing anything for someone else, but just doing it for themselves and recording videos every day.

Youtube performers have food and clothing brands. Online personalities sell newly printed books that have identical copies sitting on dusty shelves at old book stores. The way that business was being done is what is obsolete, not businesses themselves. You can take almost any functioning business that produces a product and take advantage of the new market with a little bit of creativity.

Lots of interesting companies that have active clientele are up for cheap because they kids didn't want to follow in dad's footsteps and selling the business for a lot less than what it is worth will get better returns than offering it upon the liquidator's alter.

 

rainy

Kingfisher
Some of the happiest guys I come across are blue collar business owners we work next to. Lighting & irrigation, masonry, contractors, builders/developers and lawn applicators. They're outside most of the time, there's no women around, you talk and say whatever you like and most are making six figures in service industries which are in high demand.

Actually, all the industries I'm connected with have benefited immensely from COVID. More people at home working remotely and less international travel means far more investment in home improvement. Last summer/fall when many were jobless you couldn't even find someone to build a pool because all the builders were booked thru winter due to demand. They were killing it. And now they're already booked thru summer.

Sure it isn't glamorous. But we're not stuck in offices. We're a world away from any PC BS.

May not make you a millionaire but I've suggested on this site a few months back to look into the opportunity of buying a blue collar service business with an intact client roster from a retiring boomer. There's many in their sixties looking to cash out. And the clients and infrastructure is already there. And you can get creative in buying with a down payment and a % of profit year on year.

One area of opportunity is with the employee landscape moving to permanently working remotely, they will invest in home improvement services. Just a thought....
 
Some of the happiest guys I come across are blue collar business owners we work next to. Lighting & irrigation, masonry, contractors, builders/developers and lawn applicators. They're outside most of the time, there's no women around, you talk and say whatever you like and most are making six figures in service industries which are in high demand.

...

May not make you a millionaire but I've suggested on this site a few months back to look into the opportunity of buying a blue collar service business with an intact client roster from a retiring boomer. There's many in their sixties looking to cash out. And the clients and infrastructure is already there. And you can get creative in buying with a down payment and a % of profit year on year.
A thousand times this. Reminds me of this old wranglerstar video:
 

tomzestatlu

Kingfisher
I will use this thread. Its not about becoming dollar milionaire, but about possible improving my situation in a major way.

I am talking about investment for crypto with borrowed money. I don't want to talk about specific cryptos here (there are other threads for that).

At this moment, I can't invest anymore from my account, because I put down payment for mortgage. Also I am keeping some emergency fund. And to stack more money for investment, it takes long time.

Let's say I have got an eye on established project, that could gain some hundreds of percents, if bull market continues. The only way I can see a failure in this is at the moment, when true bear market begin (like in. 2018).

Since I don't have anybody to discuss it in my environment, I will ask you, if it makes some sense or its totally stupid idea. If I'm lucky and investment goes like 10X, it would push my life financially forward significantly (I would reinvest it to more conservative instruments).

Now let's do some numbers. I won't use some specific currency, I will just use "unit" (U) when I talk about money.

Currently I have got 300 cryptos.
I want to borrow 100 000 U from bank, that could buy me another 400 cryptos (sum will be 700 + staked).
The loan can be paid monthly 1600 U for 8 years. Total sum with interest would be around 115 000 U. I would pay it off as soon as possible with profits from investment.

Profits with current 300 crypto:
2X 131 000 U
5X 325 000 U
10X 650 000 U

Profits with additional borrowed money (700 crypto) :
2X 305 000 U
5X 760 000 U
10X 1 520 000 U
.
Of course things can't always go as planned.
If SHTF, I need to handle it.
My monthly sallary is minimum 32 000 U, probably it will be 38 000 next year.
My financial obligation is paying off mortgage and utilities 14 000 monthly (if SHTF it would be +1600 U).

So even when I would have to cover whole credit in mothly payments, I would still have enough to live for. But it would cost me equivalent of 1 week holiday a year.

Is this decent idea or is it better to play it safe and stay without loans?
 

typtre

Woodpecker
I would just like to remind you, if you have not taken notice, that they are trying really hard to crash this economy :)
I am scared poopless just having my money in my banks.

A lot can happen in 8 years, is what I am saying. You could get filthy rich on crypto.

Edit:
I should probably add a most compelling case against this.
China recently banned all virtual currencies (except their own). Will you bet 8 working years on something that might be rendered illegal?
 
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Jive Turkey

Woodpecker
My idea of wealth is different from probably most people's, but I would feel more comfortable owning outright commercial equipment like trucks, trailers, excavators, bobcats, tools, chainsaws, woodchippers, bucket trucks etc. Which will allow my to produce income at any time in the future. Land is a good one too in my opinion, but things will always need to be built and fixed, and knowing that I have things which allow me to put my boots and go to work gives me a greater sense of security than having my name affixed to some digital commas in a random banking server in New York City.

Just my $.02

Also, being a millionaire doesn't give you freedom. The kind of freedom you are probably thinking about requires $5 - $10 million, and any kind of passive income can typically be wiped out in an economic event.
 

Thomas More

Hummingbird
$1 million is not that much. I don't have it yet. In fact, I'm not even close. However, I'm nearing retirement, and if I want a nest egg that I can live on when I stop working, it seems like $1 million is about what's needed. You could expect $40-80K income from a $1 million investment portfolio. If some of your $1 million net worth is tied up in your home, then it won't even be generating any income unless you rent it on airbnb while traveling. In this case, you might see an investment income as little as $30K. Do you want to live on this and count on it being enough as you get older? Do you want to count on social security paying out money to white men who have retirement savings? You'd better have enough to retire with zero social security income.

I agree with various posts saying that wealth is not the first priority that a person should seek. However, I would say that saving for retirement is reasonable, and that $1 million is within reach for anyone who saves and invests prudently through their work years.

If you are married, and you die suddenly right before you are ready to retire, will your wife have enough to live on? Even if you are not ready to retire, what if you are incapacitated, or your adult children face some kind of disaster. A patriarch should have some money set aside. Again, $1 million is not a huge amount for this. What if you live in areas where a modest 1400 sq ft 3 bed 1 bath house costs $600K, and this is near all your extended family?

I would say people don't need to set their sights on making $20-50 million, but nowadays $1 million is a good goal, and most people can get there by working a good job, living on less than they earn, and saving and investing prudently.

RE the original question, I think real estate in less pozzed areas of the country would be a good investment. Something like an REIT focusing on the Dakotas, Nebraska, Kansas, and Oklahoma.
 

BURNΞR

Pelican
The loan can be paid monthly 1600 U for 8 years. Total sum with interest would be around 115 000 U. I would pay it off as soon as possible with profits from investment.

The assumption you need to have is that:

1) we are currently still in a bull run
2) bull run will continue but only for another 6 months +/- 2-3 months

Although some people like Willy Woo are suggesting that cycles of boom and bust might be ending history has shown that bull markets typically last 1 year. You would need to be extremely disciplined and take profits earlier than you want, to service the loans. Then, there's taxes. If you live in Czech Republic then 15% is really good. Just remember that you will probably have to pay this in addition to your interest. Speaking of which, 15% interest spread over 8 years seems like a good deal and your loan amount is serviceable considering your salary, even if the entire market caves in and all your cryptos go to zero. Nobody thinks this bull run can continue for 8 years, there will be a -80% drop within 1-2 years. When that happens, all your staked gains will be meaningless because the coin itself will go to zero.

In 8 years you can get wealthy or even rich in crypto but most average people cannot hold on it that long without spending it. People need to spend money to survive. And even if your finances are solid, emergencies happen, extended family have financial problems. Holding onto crypto and not spending it is easier said than done.

If Crypto does 4-10x from here, you don't need leverage. If it only goes up 2-3x then loan makes it worthwhile. Problem is nobody knows what will happen. Most of us just believe BTC will go to 100k and the rest of the market will follow it. When taking risk like this you have to consider dependents. If you are a single guy go for it, if you have a family that depends on you for income entirely then don't borrow.
 
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tomzestatlu

Kingfisher
The assumption you need to have is that:

1) we are currently still in a bull run
2) bull run will continue but only for another 6 months +/- 2-3 months

Although some people like Willy Woo are suggesting that cycles of boom and bust might be ending history has shown that bull markets typically last 1 year. You would need to be extremely disciplined and take profits earlier than you want, to service the loans. Then, there's taxes. If you live in Czech Republic then 15% is really good. Just remember that you will probably have to pay this in addition to your interest. Speaking of which, 15% interest spread over 8 years seems like a good deal and your loan amount is serviceable considering your salary, even if the entire market caves in and all your cryptos go to zero. Nobody thinks this bull run can continue for 8 years, there will be a -80% drop within 1-2 years. When that happens, all your staked gains will be meaningless because the coin itself will go to zero.

In 8 years you can get wealthy or even rich in crypto but most average people cannot hold on it that long without spending it. People need to spend money to survive. And even if your finances are solid, emergencies happen, extended family have financial problems. Holding onto crypto and not spending it is easier said than done.

If Crypto does 4-10x from here, you don't need leverage. If it only goes up 2-3x then loan makes it worthwhile. Problem is nobody knows what will happen. Most of us just believe BTC will go to 100k and the rest of the market will follow it. When taking risk like this you have to consider dependents. If you are a single guy go for it, if you have a family that depends on you for income entirely then don't borrow.
I consider the same scenario as you do, that we are still in bull market, which might end in about 6 months. In case I would take nice profit, I would pay off the debt immediately. Paying off the debt for 8 years is the worst case scenario, if everything goed wrong(I aim for the lowest monthly payments).
Thanks for your advice.

Anyway, I've taken closer look on the loan and it's not that favourable. For 100k, I would pay 135k.
 
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Edek

Robin
Orthodox Catechumen
I have worked for some pretty wealthy people (small millionaires), and I have a close friend who worked for years for an elite, mega-wealthy family.

They all treat people like dirt whenever they can get away with it. Otherwise, they are nice as pie. They have an "it's just business" mentality - if you can't sue them, you deserve to be taken advantage of for not playing the game well. They would happily refuse to pay a garden labourer if that person was silly enough to take their word as their bond. They treat other wealthy people and profitable employees well, of course.

None of the wealthy people I knew were free, in my opinion. Sure, they didn't have a boss, but they had to work harder than a guy with a normal full time job. Only one had a family life that I would want, and he had cut off his two kids from his first wife that he had before he was really successful, so even that wasn't all it seemed - I don't know any details about why, but it was clear that the new wife (who had two of her own from her previous marriage) hated his two old kids.

Anyway, I never had a million bucks, so I have no advice to give, only my outsider observations: be single-minded, ruthless whenever possible, frugal, and chase money, not women & fun times, unless you find a wife who will 100% be a financial asset and emotionally supportive in your shared goal of prioritising money over chilling and grilling.
 
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Education is the key, I feel like the educated get rich, going to quality schools and working hard. Go to University (or college in the US) take difficult undergrads and try and get into graduate school. Older people are always going to earn a degree to increase their income, get a trade even, mechanic, electrician, plumber ect. Buy tech stocks, start a business, learn to code, I know a girl that I went to school with just got into graduate school for psychology, therapist and doctors make serious bank, if you can become one. There is tons of free educational content on KhanAcademy, youtube, go to codeacademy and take their java course or python even.
 
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