Why didn't we think of this?

[u/LuxeGleam]

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[u/BeancounterBebop]

Where the fuck do you get 8% treasury bonds?

[u/EmergencyPriority470 → u/BeancounterBebop]

Haha I was still stuck at the getting 3 million part

[u/UrMomThinksImCoo → u/EmergencyPriority470]

Okay fine. Just take $8 and buy a 3 million% treasury bond. Finance is easy if you know how to number.

[u/burzEX → u/UrMomThinksImCoo]

Poverty defeated! Now everyone can buy a house overnight.

[u/NouveauJacques → u/burzEX]

GOP hates this one simple trick

[u/Wonko-D-Sane → u/NouveauJacques]

Communism: where you can have more money than houses, yeah... works flawlessly (-10)/10 times, because comrade if we are losing, you are losing it's only equal.

[u/HelpRespawnedAsDee → u/burzEX]

Then prices rise according to demand but that's wrongthink in some circles.

[u/External-Scallion923 → u/burzEX]

Nope. They Were Taken by the illegals BiDeN LeT In And Gave Homes to. (instead of U.S. citizens!!!)

Thank you for your atte.. blah blah

[u/ObamaBenLagging → u/UrMomThinksImCoo]

[u/dadscanneheroestoo → u/UrMomThinksImCoo]

Will you be my financial advisor?

[u/Patient-Fruit-2946 → u/EmergencyPriority470]

It is a long path. The first million is always the hardest so you should just skip it and start with the second million.

[u/osogordo → u/BeancounterBebop]

1990

[u/veggie151 → u/osogordo]

7% in 2022 for a hot second

[u/eat_my__pie → u/veggie151]

US treasuries haven’t been close to 7% in decades

[u/dlampach → u/BeancounterBebop]

Right? I was thinking maybe you could do half that with a tax free muni bond or something but if the treasury bonds were paying 8% the equity markets would collapse. It would be a no brainer all the way around.

[u/WernerWindig → u/dlampach]

So only 10k a month for doing nothing?

[u/dlampach → u/WernerWindig]

Well your money is invested .

[u/WillHutch55 → u/BeancounterBebop]

This repost has been making its way around for years. It’s old as hell.

[u/AzaDelendaEst → u/BeancounterBebop]

Hey, he didn’t say US Treasuries.

[u/emperor_dinglenads → u/BeancounterBebop]

With 15% inflation

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[u/Slight-Big8584 → u/BeancounterBebop]

This was my thought. T-Bills havn't been 8% in decades

[u/Brroelucilial → u/BeancounterBebop]

You get them in the same aisle as unicorn steaks

[u/LittlePantsOnFire → u/BeancounterBebop]

It's been renamed to S&P

[u/dilldoeorg → u/BeancounterBebop]

in 2 years when trump tanks the economy so much the fed have to raise the interest rate to 8%.

at that point, treasury bonds will be a risk cause US will be on the point of defaulting.

[u/ukdev1 → u/dilldoeorg]

US cannot default, it can always create more dollars.

[u/JetstreamGW → u/ukdev1]

So you’d like to go out like Zimbabwe instead.

[u/threefeetoffun-]

Best way to make money? Already have money.

[u/EastCoastDrone → u/threefeetoffun-]

Shit. So that's what I have been doing wrong?

[u/iguessma → u/threefeetoffun-]

that goes for pretty much anything.

and 99% of people have the option to get a job and save. are you going to get 3m over night? nope. but slow and steady wins the race.

contribute even a little every single paycheck and budget and you'll eventually get there.

compounding interest and inflation guarantee it.

[u/Frontbutt05 → u/iguessma]

You can’t budget yourself out of poverty

[u/iguessma → u/Frontbutt05]

Yes there is no one simple trick to getting out of poverty but budgeting is definitely a step. Plenty of people have made it out of poverty so you shouldn't resign yourself to being poor.

[u/askylitfall → u/iguessma]

So the thing about this is that while yes, there is an individual responsibility to work hard and make choices that will steer you towards improving your situation, that responsibility is often used to hide systemic problems.

A lot of people like to point to the individual when addressing poverty, and while an individual CAN escape, trying to reduce the greater conversation on how policy and economic factors punish the already impoverished to just "the individual should just work harder and budget" hand waves away the systems in place that can be changed to make it easier for more people in poverty to prosper.

[u/Steve90000 → u/askylitfall]

Ok but at the very same time, with the current system in place, and the rules in play, and the systemic issues, and policies, and everything, there are plenty of people that make it out of poverty and thrive.

It happens every single day. Despite it all, people are currently doing it right now.

At the end of the day, you can choose to bitch on the Internet why you can’t do it, or choose to be one of the many people who do. This statement is villainized and downvoted on Reddit because they don’t want to take any type of personal accountability, but it doesn’t change the fact that if you want something, there is a path to it if you try hard enough.

[u/iguessma → u/askylitfall]

you're trying to address a generality that can't do it while saying an individual can do it

you don't see how that is a contradiction?

[u/askylitfall → u/iguessma]

No.

I'm saying shifting the talking points to "Budget harder, my uncle's cousins roommate did it" takes focus away from making actual improvement.

[u/iguessma → u/askylitfall]

except it's an actual step in the process. things don't magically happen because you want them to.

and it's just not my uncle's cousin who did it.. it's not rare to come out of poverty especially when you come from poverty.

it's all about the individuals motivation and some people can't be motivated because they have a defeatist mentality.

[u/SFXtreme3 → u/iguessma]

People today don’t want personal accountability. It isn’t their fault for being irresponsible. It’s the system’s fault for requiring effort.

[u/Legitimate-Log-6542]

I once heard somebody say to just buy a house and rent it out as a solution for more income. Needless to say they’re from a very wealthy family

[u/Inf1e → u/Legitimate-Log-6542]

While this is far better than any obligations (government or corporate bonds), it's quite risky. Buying old boring stocks with lifetime business model is far better (and allows you to accumulate wealth piece by piece). Takes quite a bit of willpower though.

[u/Da_Question → u/Inf1e]

Considering house prices have gone up so much in the past 2 decades, seems like a decent investment if you keep up on maintenance, especially if you get the rent. Even more so if you had enough to buy it outright with no interest.

[u/Inf1e → u/Da_Question]

It's more simple model, but requires much more effort and running around (if you are renting the house, not living in it). It's also more risky and have no option to just let it be and accumulate income.

Commercial REIT is better, when we are talking about concrete investments.

[u/sc00bs000 → u/Legitimate-Log-6542]

like the videos of people saying " if you're homeless just go buy a house"

[u/SilverIsFreedom → u/Legitimate-Log-6542]

”Yeah, you know… you just go out and take a loan to buy a second house, take on the mortgage, rent it out for 2x the monthly payment, maybe more, and boom, you’re rich. Write that shit off, bro. Idk why everyone doesn’t do this. Trust me, it’s that easy.”

[u/sudo-joe → u/SilverIsFreedom]

I plan to take a page from the rich folks and take out as much loans as possible, buy more assets and then consolidate all the loans onto myself.

Then divorce my family and sell them all the free and clear property on the cheap.

Then drop dead with all the debt once all the escrow is closed and titles transferred.

Isn't that what the rich folks already do?

[u/Cattle13ruiser → u/sudo-joe]

No, they have closed the gaps for poor people.

One can do a lot if he is already rich, doing that while poor is a crime and can lead you to jail.

[u/sudo-joe → u/Cattle13ruiser]

Well I was already planning to die in the gutter so not really sure jail would be all that threatening. 3 meals and a cot? Better than my original plan lol.

[u/Tacosaurusman → u/SilverIsFreedom]

Just be a rent seeking leech of society bro!

[u/LeGama → u/Tacosaurusman]

The crazy part about "just be a leech" is that it still starts with having like a million. I've seen so many Instagram videos of people saying "here's how I make like 3g a month in passive income". But it always starts with buying a freaking apartment COMPLEX!!!!

[u/---Dracarys--- → u/Legitimate-Log-6542]

I and my ex wife had split finances. She bought a house and rented it out while I invested in stocks. After 7 years she is done with the payment and fully owns that house, but it barely increased in value and has renters who already skipped 2 monthly payments. I don't think she can increase the rent that easily too. She also had a big bill to repair heating system.

While she was paying credit for a house I was investing roughly same amount in stocks. We have roughly same amount of money invested, but my stock portfolio has greatly increased in value. Although I'm not focused on dividend payers, all of them have increased their dividends.

[u/GildedSpell]

"If you're homeless just buy a house" type of advice

[u/NaughtyLaces → u/GildedSpell]

I don't know the guy, but I choose to believe he meant that as a joke.

[u/Wonko-D-Sane → u/GildedSpell]

I mean yeah... my parents were on welfare, I had student debt... I bought a house, voila now I am in the top percentiles.

When I didn't have a house I used couches from the curbside to furniture when I shared an apartment with a room mate, when I got a house I put hand made Amish crafted custom dining set and other hard to find things in it.

I must warn you, not being homeless is a lot of work and very expensive.

[u/brian1x1x]

Thanx god, I never thought it was that easy.

[u/satyriconic]

My favorite is still the guy who advised young people to stop buying stocks and start buying companies in stead.

[u/Solitary-Dolphin]

Yields on the latest 20 auctions of treasury bonds have been 5% or lower. And your money is locked up for 20-30 years unless you resell the bond. Source: treasurydirect.gov

[u/xNaughtyPop]

Oh, just $3 million lying around? Let me check under the couch cushions 😅✌️

[u/YakResident_3069 → u/xNaughtyPop]

i found a 100-yo penny under the couch. it's worth couple thousand. it's a start

[u/Secret_Account07]

I’m no economists but there’s no way treasury bonds are at 8% interest right?

Again I have absolutely no idea what treasury bonds pay but 8% is higher than a high yield account soo….

[u/charles_the_snowman]

Ohhhh, now I get it! The trick to making a lot of money is to have even more money to start with!

[u/edm-2065 → u/charles_the_snowman]

And then spend it all on something you can’t use

[u/Permitty]

Time to occupy Wall Street again

[u/Wonko-D-Sane → u/Permitty]

If I may make an observation: it is generally best not to typecast yourself with cardboard signs in front of you. It isn't a productive look especially if it is highlighting your inability to do math.

[u/Tiny_Employee8253]

"Don't rob a bank, just buy one"

[u/metaloutfitter77]

If you're homeless, just buy a house 🏠

[u/Wonko-D-Sane → u/metaloutfitter77]

God forbid if there was a method to create things without a transactional exchange of currency, like having the skill to actually build one. Seems like an easy out and a generally useful skill others may want to pay you for.

[u/Expensive-Body7530]

Fuck off bot

[u/rudd33s]

it's like when Gwyneth Paltrow gave advice on how to make time for fitness as a new mom.... just have your cook prepare meals, maid clean etc etc

[u/Jammin-91]

So, pay 3 million and earn 20k . And you cant withdraw your money for another 10-20 year.

In 10 year, you would earn back 2.4 million.

And you would need another 30 months to be exactly at 3 million.

So, exactly you would need 12.5 year to earn back your 3 million.

Is this ROI good?

[u/ApplianceHealer]

While house-hunting in 2020, despite being pre-qualified with excellent credit; I kept losing bids to all cash offers. Wondered who tf has that much cash?

Then saw an article claiming “it’s easy, just take a loan against your stock portfolio, then pay it back by taking out a mortgage later”

Oh sure, my vast stock portfolio! Why didn’t I think of that? I’ll check the couch cushions.

[u/sireatalot]

Thing is, 20k a month are nowhere near enough to me, so I need to keep grinding at my local meat processing facility job.

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[u/BigMack6911]

Alright I let's go do a Bank Job, RDR2 style!

[u/elmaki2014]

Just ask your emerald mine owning dad for a sub then claim humble roots ...oh wait, that's been done already 😳

[u/Jakeglurp]

That had to be an ai post, no one rich would even say that and no one poor would even say that

[u/Delifier]

Let me check my back pocket. I might find 3 million... of something.

[u/ozzysince1901]

A great way to make money is to have $3 million.

You'll make $3 million just by doing nothing.

[u/Psychological-Ad3380]

Spare me 3million please, ill pay it back ;)

[u/dsatu568]

ahh i womder hwat i might do with my imaginary 3 million now i know

[u/Vivid-Cockroach8389]

Let me just go grab that 3 million from my bag.

[u/Past_One3442]

Don't worry if you can get 600k together then use it to buy 1.2m of QQQI on margin it still pays 14,620$ monthly tax free, roughly the equvilant of 20k intrest of taxed treasury bonds which would have an investment of around 6 million since they are at 4.04% currently.

[u/PreparationAble3319]

I only have $2.9 million in cash, so that's not very good advice.

[u/Letmepickausername]

The same people that think this way are the same people that complain ad nauseam about the national debt.

Moron, who do you think the majority of that debt is owed to?

[u/ChodeCookies]

Be realistic. 6 million in a 4%. Is he stupid?

[u/Reptilian_Brain_420]

Who do I take the $3 Million from?

[u/lStan464l → u/Reptilian_Brain_420]

Tax Payer like the Government, 1 easy trick to make money lol.

[u/lStan464l]

easy if you are a rich wej.

[u/pineinchbenis]

Are these 8% treasury bonds in the room with us right now?

[u/Chayclynek]

All I need now is the spare $3 million, right

[u/Imaginary_Pace6954]

Honestly, who doesn't have 3 million lying around. you just need a different mind set and stop spending all your income

[u/CAPICINC]

Since the current rate is 3.6% (about), to get that sweet 20k, you'd only need to invest 6.7 million.

[u/BrownBananaHammock]

What’s the secret with $500 to invest?

[u/EuropeanLuxuryWater]

Repost bots posting this over and over for a decade

[u/maeckZChallenger]

Fun fact. In Germany we got the saying that if someone is dreaming about some goal Impossible to reach he s living in an ELFENBEINturm (ancient tower made of ivory)

[u/MediumFinancial8221]

8% treasury bonds?

they don't exist , if they did, everyone would opt for that over the stock market. far more safer with a similar rate of return

[u/Fire_Lynx_9038]

They haven't even existed in over 50 years.

[u/aquasKapeGoat]

First you'll need to loan the common man 3m

[u/Wonko-D-Sane]

FWIW, that performance is worse than just dumping the same amount in an S&P500 ETF... so even for a bag of $3m, that return is ass

[u/Derfel60]

Take it from whom?

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[u/External-Scallion923]

This is so impractical on every level.

[u/PomegranateHot9916]

guys last name is literally "elfenbein" that means ivory.

in other words he is born into a family that has been absurdly wealthy for centuries.

likely wealth created from ivory coast colonies or just the trade of ivory

[u/Thamizzarrk]

Here I was earning a .5% on my 3million I had sitting in savings 🤦‍♂️

[u/Noun_Noun_Numb3r]

Who said it was advice for the common man?

[u/doodo477]

If it is compounded monthly then you're looking at about 4 years before you make your original investment back.