Bitcoins/Litecoins/Virtual Currencies

Onoes

Onoes

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God damn that was an annoying Christmas. Years ago my dad asked me about Bitcoin, and I told him about my position in it - not something I would do with anyone else in the family, but my dads good people.

Well, the last couple of years his brain is starting to drift a bit, and apparently on Christmas Eve one someone mentioned Bitcoin and my dad told everyone how I was doing. I had no knowledge this had happened, so I'm there on Christmas day and have multiple sisters and their husbands coming up to talk to me about it. At first I was just confused and was talking in generalities as if I had no personal stake... then one of my sisters drops the " Dad told us..." and just mentally went "FUCK.". So yeah, I spent the whole day listening to my sisters basically beam at me like hungry sharks, while their husbands were either in camp "I wish I had gotten into Bitcoin - I almost did a couple of years ago!" or worse, the shortsighted "Bet you feel pretty stupid for not selling when it was up to like $125,000 or whatever huh?".

And let me stress that I'm not even in any crazy position myself, its just when most of my relatives have -$23.00 in their bank accounts, I'd rather they just assume I'm in the same boat as them.
 
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TJT

TJT

Mr. Poopybutthole
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Do they expect you to give them money in some roundabout way?

My mom knows I do really well. One of my nieces told me she knew I was rich. Rich being relative to them of course. Nobody has had the gall to ask me for anything but I guess that day is coming. I gave all of my nieces and nephews a silver eagle 1 oz coin for Xmas along with their gifts though. Mainly because I think its cooler than giving them money.
 
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Khane

Khane

Got something right about marriage
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Everyone talks about money constantly. People pretend its taboo yet they always talk about it, mostly in roundabout ways. How much someone's house costs, or car, or what a job pays, or their favorite athlete's contract, or prize purses. They talk about the latest investing craze and how someone they heard about that knows someone made tons of money on a $100 trade. They talk about how expensive trips or entertainment or food is.

But the best way to get people to stop talking about money, or bothering you about it, is by having an honest, sincere conversation about passive investing. It will either bore them so much they walk away (nobody wants things to take a while) or make them feel inadequate enough to not want to talk about it anymore (everyone wants to believe they dont do it because its out of their reach, but when they get told it isn't they get upset). Unless they are also smart and passively invest. Then they just agree and the conversation wanes because what else is their to say other than "Agreed".
 
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Haus

Haus

I am Big Balls!
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Khane said:
Everyone talks about money constantly. People pretend its taboo yet they always talk about it, mostly in roundabout ways. How much someone's house costs, or car, or what a job pays, or their favorite athlete's contract, or prize purses. They talk about the latest investing craze and how someone they heard about that knows someone made tons of money on a $100 trade. They talk about how expensive trips or entertainment or food is.

But the best way to get people to stop talking about money, or bothering you about it, is by having an honest, sincere conversation about passive investing. It will either bore them so much they walk away (nobody wants things to take a while) or make them feel inadequate enough to not want to talk about it anymore (everyone wants to believe they dont do it because its out of their reach, but when they get told it isn't they get upset). Unless they are also smart and passively invest. Then they just agree and the conversation wanes because what else is their to say other than "Agreed".
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I'm in the bucket with Onoes Onoes in terms of how well financially the rest of my family is doing relative to them having figured out that I'm doing pretty well relative to them.

I only have one relative who even skirts around wanting to borrow money and asking, that's my brother in law. But one of the recent times he skirted too close to it I gave him a rundown of how I saw his finances from the outside and he got awfully self conscious about stuff and backed off. This dude has literally spent close to 5 years trying through the courts to get put on social security disability because of his "horrible COPD", from years of being a pack and a half a day smoker. Then complains about how little his SSDI monthly check will be after bragging throughout his 20's and 30's about how he did all his work under the table so the government wouldn't know how much he made. He FINALLY gets on SSDI and is gifted something like a 4 year back payment to cover the previous 4 years. Get's it all at once. And within 2 months is talking about how he can't do things until his monthly SSDI check hits because he's tapped. #SMH I laid out this picture is moderately grueling details before him and told him if he ever wanted some budget making and financial planning advice to let me know and he hushed up.
 
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Jysin

Jysin

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People just don’t know how to manage their money at all. My relatives spend like no fucking end and it blows my mind. My sis had a $700k payout from a lawsuit (fairly serious car crash). She went and bought way too much house plus 2 new vehicles. All with a mortgage and car loans. They go on shitty cruises and theme parks constantly. She recently disclosed she has 16 credit cards and is working on debt consolidation.

Bro has 80% disability from the military. His wife is a soon to retire E9, who apparently also is going to claim some level of disability despite running multiple marathons every year (no exaggeration). They also own new cars and spend frivolously. I don’t think they are in a ton of debt, but live way beyond their means.

All of these people spend so much that they ALL drive Uber as a side hustle to make ends meet. I really can’t wrap my head around it.

Meanwhile, I’m getting ready to move back to the US with my wife and kid. We will buy a modest house with >50% cash, buy a couple of 1-2yr old vehicles with cash, and comfortably sit with 7 figures of net worth.

All of them are clueless to my financial situation and I will damn sure keep it that way.
 
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Borzak

Borzak

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People ask me about markets from time to time. I'm not a big investor at all. I have money in the market in index etfs and some stock inherited.

I have noticed a number of people if they don't have a reasonable idea of how much money you make because your job title/description means nothing to them they poke around in other ways to find out.
 
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Kithani

Kithani

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Jysin said:
People just don’t know how to manage their money at all. My relatives spend like no fucking end and it blows my mind. My sis had a $700k payout from a lawsuit (fairly serious car crash). She went and bought way too much house plus 2 new vehicles. All with a mortgage and car loans. They go on shitty cruises and theme parks constantly. She recently disclosed she has 16 credit cards and is working on debt consolidation.

Bro has 80% disability from the military. His wife is a soon to retire E9, who apparently also is going to claim some level of disability despite running multiple marathons every year (no exaggeration). They also own new cars and spend frivolously. I don’t think they are in a ton of debt, but live way beyond their means.

All of these people spend so much that they ALL drive Uber as a side hustle to make ends meet. I really can’t wrap my head around it.

Meanwhile, I’m getting ready to move back to the US with my wife and kid. We will buy a modest house with >50% cash, buy a couple of 1-2yr old vehicles with cash, and comfortably sit with 7 figures of net worth.

All of them are clueless to my financial situation and I will damn sure keep it that way.
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VA Disability Fraud is a huge understated issue in this country.

VA disability spending was $184 billion in spending last year. More than SNAP.
 
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Furry

Furry

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Kithani said:
VA Disability Fraud is a huge understated issue in this country.

VA disability spending was $184 billion in spending last year. More than SNAP.
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It's fraud openly encouraged by both parties, so good luck fixing it.
 
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Tmac

Tmac

Adventurer
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Jysin said:
People just don’t know how to manage their money at all. My relatives spend like no fucking end and it blows my mind. My sis had a $700k payout from a lawsuit (fairly serious car crash). She went and bought way too much house plus 2 new vehicles. All with a mortgage and car loans. They go on shitty cruises and theme parks constantly. She recently disclosed she has 16 credit cards and is working on debt consolidation.

Bro has 80% disability from the military. His wife is a soon to retire E9, who apparently also is going to claim some level of disability despite running multiple marathons every year (no exaggeration). They also own new cars and spend frivolously. I don’t think they are in a ton of debt, but live way beyond their means.

All of these people spend so much that they ALL drive Uber as a side hustle to make ends meet. I really can’t wrap my head around it.

Meanwhile, I’m getting ready to move back to the US with my wife and kid. We will buy a modest house with >50% cash, buy a couple of 1-2yr old vehicles with cash, and comfortably sit with 7 figures of net worth.

All of them are clueless to my financial situation and I will damn sure keep it that way.
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I'm too lazy for all that, lol. $700k and you still have to have a side hustle?? No thanks!
 
Jackie Treehorn

Jackie Treehorn

<Gold Donor>
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Jysin said:
People just don’t know how to manage their money at all. My relatives spend like no fucking end and it blows my mind. My sis had a $700k payout from a lawsuit (fairly serious car crash). She went and bought way too much house plus 2 new vehicles. All with a mortgage and car loans. They go on shitty cruises and theme parks constantly. She recently disclosed she has 16 credit cards and is working on debt consolidation.

Bro has 80% disability from the military. His wife is a soon to retire E9, who apparently also is going to claim some level of disability despite running multiple marathons every year (no exaggeration). They also own new cars and spend frivolously. I don’t think they are in a ton of debt, but live way beyond their means.

All of these people spend so much that they ALL drive Uber as a side hustle to make ends meet. I really can’t wrap my head around it.

Meanwhile, I’m getting ready to move back to the US with my wife and kid. We will buy a modest house with >50% cash, buy a couple of 1-2yr old vehicles with cash, and comfortably sit with 7 figures of net worth.

All of them are clueless to my financial situation and I will damn sure keep it that way.
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I knew winning my $1000 giveaway back in 2021 would propel you to greatness!
 
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Synj

Synj

Dystopian Dreamer
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Jysin said:
People just don’t know how to manage their money at all. My relatives spend like no fucking end and it blows my mind. My sis had a $700k payout from a lawsuit (fairly serious car crash). She went and bought way too much house plus 2 new vehicles. All with a mortgage and car loans. They go on shitty cruises and theme parks constantly. She recently disclosed she has 16 credit cards and is working on debt consolidation.

Bro has 80% disability from the military. His wife is a soon to retire E9, who apparently also is going to claim some level of disability despite running multiple marathons every year (no exaggeration). They also own new cars and spend frivolously. I don’t think they are in a ton of debt, but live way beyond their means.

All of these people spend so much that they ALL drive Uber as a side hustle to make ends meet. I really can’t wrap my head around it.

Meanwhile, I’m getting ready to move back to the US with my wife and kid. We will buy a modest house with >50% cash, buy a couple of 1-2yr old vehicles with cash, and comfortably sit with 7 figures of net worth.

All of them are clueless to my financial situation and I will damn sure keep it that way.
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I can’t speak for everyone here but I imagine it’s a similar sentiment.

When I think about receiving a lump sum, whether that’s a bonus, or a huge payout (imaginary), I think about where I would invest that money and how I could save that money. Many people, like your relatives, think about how they could spend that money.

A friend of mine that I worked with made more money than I did, I convinced him to put a chunk into his 401k, which he did. Fast forward 2 years and he had about $30k which he cashed out to buy a pool. He’s done that with every dollar that enters his orbit. We’d make a big commission on something, I’d save mine, he’d buy a new gun or camping equipment or whatever. Fast forward 20 years, he’s still pretty much check to check and has no retirement to speak of, and I’m pretty well set.

I think people here would take a $700k windfall and turn it into a generational opportunity, while people in the world, will turn that windfall into more debt. Sucks to suck.
 
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Jysin

Jysin

Bronze Baronet of the Realm
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Synj said:
I can’t speak for everyone here but I imagine it’s a similar sentiment.

When I think about receiving a lump sum, whether that’s a bonus, or a huge payout (imaginary), I think about where I would invest that money and how I could save that money. Many people, like your relatives, think about how they could spend that money.

A friend of mine that I worked with made more money than I did, I convinced him to put a chunk into his 401k, which he did. Fast forward 2 years and he had about $30k which he cashed out to buy a pool. He’s done that with every dollar that enters his orbit. We’d make a big commission on something, I’d save mine, he’d buy a new gun or camping equipment or whatever. Fast forward 20 years, he’s still pretty much check to check and has no retirement to speak of, and I’m pretty well set.

I think people here would take a $700k windfall and turn it into a generational opportunity, while people in the world, will turn that windfall into more debt. Sucks to suck.
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I should clarify, of the 700k the lawyer took a very chunky cut of 40% iirc. Multi-year, multiple hospital surgeries to pay off, etc.

But still, going from an apartment life check to check, anything 6 figures should be life changing. But I honestly think the entirety was spent in under a year and went right back to check to check life, with a big house to maintain, insure, and pay taxes on with bigger car insurance bills.

My bet was it was enough to get by.. just .. at the time, but years of Florida insurance hikes and card spending.. here we are.
 
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Kithani

Kithani

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Jysin said:
I should clarify, of the 700k the lawyer took a very chunky cut of 40% iirc. Multi-year, multiple hospital surgeries to pay off, etc.

But still, going from an apartment life check to check, anything 6 figures should be life changing. But I honestly think the entirety was spent in under a year and went right back to check to check life, with a big house to maintain, insure, and pay taxes on with bigger car insurance bills.

My bet was it was enough to get by.. just .. at the time, but years of Florida insurance hikes and card spending.. here we are.
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I mean in theory it should have been enough to pay off the hospital costs and cover for missed work, right?

The idea that getting in a car wreck should result in someone living a higher socioeconomic lifestyle than prior to car wreck is… odd IMO. I know that isn’t what you’re advocating necessarily just thought I’d point it out.
 
Jysin

Jysin

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Don’t let the poor financial sense fool you, her back is fucked for life. Been through half a dozen spinal cage surgeries etc. Justifiably cause for pain and suffering.
 
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Synj

Synj

Dystopian Dreamer
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If I inherited $100k tomorrow:

$80k VOO
$15k VXUS
$2k LG OLED 77" C5
$3k Vacation with my kids

If my neighbors inherited $100k tomorrow:

1767033069319.png
 
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Agraza

Agraza

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Jysin said:
who apparently also is going to claim some level of disability despite running multiple marathons every year (no exaggeration).
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This shit gets under my skin. Have seen and heard so many different stories. One little twerp was having a sleep study done to demonstrate sleep apnea, and he set alarms to wake him up so he could fuck up the study.

I feel for them. It's stressful and frustrating moving around and being apart from family, but for most people, especially an E9, the compensation is sufficient.

Then you see shit like the somali daycares and I think, better ours than them.
 
Deathwing

Deathwing

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Since we're on a retirement tangent....if you have an IRA account full of VTSAX, is it worth converting that to ETFs? I'm trying to max out my IRA contribution limit and 401k contribution limit but I'm new to ETFs. Any reason not to use them and avoid the 0.04% expense ratio on VTSAX?
 
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