calculate the odds of something occurring
assume the most amount of time needed to reach a 95% chance of it happening
assume that you will grind for that amount of time
be pleasantly surprised
*be careful with extremely low chance events like something with a .01% chance of happening
Always keep the Gamblerâs Fallacy in your head.
Mortgage the house. Sell the car. Have the wife leave with the kids.
Have the wife leave the kids after she leaves with them. Rent her services to them for continued gamble efforts. Make a bet with the kids that youâll win your next poker match, or moms kid watching services will expire; this further softens operating costs.
Iâve never bet on sports before, but I tried betting a lot of money on the Patriots 2007 season for them to win a lot of games⌠but there was a 500 dollar max bet or something
HAHAHAHHAHAHAHHAHAHAHAHHAHA
sports gambling is such a scam⌠you can bet 5 million dollars on a single game, but try to bet it on a season and the most you are allowed to bet is pocket change
AAAAAAAAAAAAAAAAAAAAAAAAHHAHAHAHAHH
I would say gambling and speculative betting isnt the best thing for some people to spend time on, but i forgot about the stock market.
Individual stocks are no better than vegas for the average person. To make a significant amount of money reliably you need to do investment banking and bet on like 100 different startups across an entire sector and one will eventually turn into Facebook or Google.
index funds have shown consistent returns over long periods of time for over a century
Yes, and so has inflation and debt gg.
Dont look at the housing market and tell me what you see over last 5 years is good, unless of course you made good off in in which case actually gg, but for alot of people its cancerous growth.
inflation is 3% the dow jones typically returns 10%
the goal is to invest 10 million in an index fund and then live off the interest
in a worst case scenario it drops 50% and you still have 5 million (and everyone else is starving to death)
No, inflation is not 3%. It cant be, as it is exponentially growing.
Edit: â3% linear seems inconsistent with the changes over the last 5-8 yearsâ is a much less disingenuous statement, even though all this is bs lolol so factually my bad.
Overall, despite fluctuations, the long-term average inflation rate in the US has been around 3%. This means that, on average, prices for goods and services double roughly every 23 years due to inflation.
yes as well as your 10% index fund investment, at a rate reasonably higher than inflation
You buy groceries at all? Pay your own bills? Regularly move actuall money around? Kinda seems like nah.
basic financial advice has not changed at all recently
#middleclass things
the grocery bill for a billionaire is still pretty much the same as a person from the middle class
Can you PM where you leave so that I can visit and totally not do violence towards you?
Dont confuse diablo.trade for the DOW
I didnât bring up the stock market⌠trust me I have a strong educational pedigree
I was in a track meet in high school against one of the original co founders of facebook
Oh christ here we go then.
Im a navy seal on roids, every hedge fund i own 51%. I never miss and am an expert formula 1 and drag car pilot. elon musk owes me several favors, trump texted me to let me know he was ok (something about a rock), and my gene pool is flawless for every conceivable application.
This does not mean you learned alot.
well what you said could be true, and then you say something idiotic like this
ever seen michael phelps mother? she looks like every overweight sedentary cat lady in the world
Actually no lol gonna go google that one
that was the moment I knew genetics was a complete scam
trust me I was on board with the âgene poolâ meme, my mom is an ivy league educated nurse that loves to harp on âgenetics is everythingâ
then I started really looking into high performance individuals and how humble a lot of their roots are
you would expect some of the greatest athletes and intellectuals of all time to have demi gods as parents, but most of their families look just like normal people