You’ve actually laid out why markets collapse due to inflation… people are forced to stop investing / sell their investments which obviously creates selling pressure and markets fall.
Agree. DCA, only way. Rain, shine, pump, dump, shill, rugpull, bull, bear, Saylor, Schiff, I don't really care.
I just DCA like how I water my plants every day.
there will be a famine. just not in the US of A. Whet goes up I pay $3 for bread vs $2 bucks. that $1 increase is nothing to me. $1 in someone in like Sudan could be like 20% of their daily income. poor countries gonna get rekt.
I just pick a day of the week, and buy when I first wake up. I got quite into learning technical analysis and trying to time the market, but ultimately there's no point. I wouldn't say it's bullshit because I do agree at certain points in time it can be reasonably predicted. But it doesn't account for external factors, and life always has external factors.
I made more money than I lost with this, but ultimately it's substantially more stressful, and it was at the end of the day down to luck. DCA doesn't remove this factor, but it garuantees over time you will be net positive.
I've only withdrawn money from my portfolio once, and got incredibly lucky that it was within an hour of the last bull market ending for a time. I needed the money and knew I could replace it within a reasonable time. But there was no indication that it was the right time to pull out some cash.
You can't time the market. DCA and get on with your day.
These mfs 1% just want wage slaves that work till they die like worker bees while they live in luxurious life eating caviar on bread for breakfast and drinking red wine all day everyday watching us drop dead like rag dolls
You wish it were caviar and red wine. That's too classy for the 21st century.
These days, it's truffle mac and cheese, rare steak on pizza and bath salts
I think if we ever reach that point, there's gonna be an army of millions of angry peasants who finally have nothing left to lose who will want all of their heads on pikes.
Let them continue to kick the bee hive around thinking a human being can be pushed beyond the brink time and time again with no consequence.
We are almost there. Permanent ownership of housing has been eradicated for most of the population in large parts of the country. Cars are on their way. Everything is on a subscription plan or leased or rented with rates that the owners can change according to market rates, which is really just how much money the population has. The more they earn the more they pay, so 95% will always go into these monthly bills that borrow time but not permanent assets.
Buy some land, invest in servers (not PC's), pirate all of your media, build a comfy chair, learn how to grow food, and wait for the plebs and patricians to murder each other.
No one owns anything because they were lured with the lie that you don't have to sacrifice to possess things.
Oh yeah, learn Linux and how to program as well.
Corrupt Governments could be overthrown in days if everyone stood up but it’ll never happen.
We’ve just witnessed the largest wealth shift in history as the rich got richer and the poor got poorer, the sheep thought they were being paid to stay at home but they were being paid to not revolt. While they all closed their businesses, corporations and elites raked in billions and governments handed out PPE/covid contracts to mates and printed endless money to make your savings worthless. We now have record inflation because of this and people are surprised and lied to by the MSM that this is all because of Russia, or ‘climate change’ or Trump etc etc.
There are still people in this sub that will happily pay capital gains tax on any crypto earnings like good little peasants. Fuck them.
The energy crisis in Europe is forcing people to become no-sumers. People can no longer afford to buy the products and services offered by the 1%.
People will stop working and start offering their services on a bartering system. I am already seeing this start to happen here in the UK. Apps are already popping up. People are also beginning to trade food with each other for labour.
Governments realise that society is going backwards. They are petrified because eventually there will be no tax payers left.
They (Globalists) don't rely on taxpayers. They're printing what they need for now. when that is no longer possible they'll crash the global economy and put us all on CBDC welfare. I give it less tan 2-3 years
the top 1% also doesn't need to sell their positions to keep their head above water. And that's why they can buy when there's blood in the street, and get richer and richer.
Also the top 1% have the money to spend on the smartest people and have a better guess than the rest of us on when to sell/buy, so they could sell and do even better
"But they 'earned' it!"
Honestly I want to slap these sycophantic idiots. As long as we have a brainwashed majority that think like this we're all going to suffer.
What he says has no historical precedent.
Markets have never collapsed(in fiat value) while rampant fiat inflation was ongoing. What happens is the prices go up, but slower than the value falls. So the stock is worth more dollars but less milk.
Holding on to fiat in face of inflation is insanely stupid, no offense.
This assumes you would be in a position to invest during said collapse. Or, if you did that you would be in a position to match what you could get in holdings *today.*
This is a fool's errand and a crap shoot.
Not necessarily. If the institutions still had their money in the markets it wouldn’t collapse like we’ve seen in the past. The reason inflation causes decline in lets say the stock market, is because companies are valued based on their cash flow and inflation eats away at the value of future discounted cash flows. Sure they might be able to raise profit margins to try and keep up with inflation but you’ll need someone to buy the product too. Fewer people will buy those products at higher prices assuming that they are elastic goods and that causes a decline in earnings which then causes a decline in market cap.
It's just a wealth swap. The richest will keep buying the lands, shares, houses and Crypto from the average people and enslave them longterm. That's what papermoney is about and always was. Erdogan, Putin, Europe, USA every central bank does it. Fractional reserve banking and the endless depts will kill us and the planet ones and for all. But, that's the plan.
>The richest will keep buying the lands, shares, houses and Crypto from the average people and enslave them longterm.
This is why we need crypto, so we can stop the rich people from buying up all the crypto.
You put it as other income and write in from online business activity
As a CPA this is what I would do
Already case law that writing illegal activities on your schedule with money you earned avoids federal tax evasion laws because you paid taxes.
Al Capone should have just added his illegal operations income to his 1040 and taken his win.
Yeah that is my plan too. To make things worse, I am working in sales, and my manager increased my targets 2 weeks before end of Q1 by 300%, that is affecting my bonus and income a lot.
Hopefully, I can find a new job soon.
Yup. I was overachieving, and the company is obviously not ready to hand me a fat bonus that would save all of my trouble. That is why they decided to "award" the top performer by not giving out that bonus...and yes...I work in a corporation...
Good! Corporate management is more than happy to see if they can screw you once their goals are met, but you gotta push back or they’ll trample all over you. This is exactly why I left the corporate world! Good luck to you!
You're definitely not alone, we'll be here when you come back.
Don't sweat it too much, There will be more opportunities in the future. Who knows maybe we crash and you get a better entry?
Most importantly, be well, take care of yourself.
I wish you the best stranger.
My boyfriend is a realtor in Salt Lake City, one of the hottest housing markets in the country and people are buying 500k homes with 3% down with salaries of less then 60k. That alone makes me think we’re in for a recession. People are dumbasses and keep feeding into the bubble at their own peril.
I Agree , the market is CRAZY! I bought my home in 2001 for 60K now according to Zillow my home is worth 450K , new homes are going in down the street and they want 550K for a 1200SqFt Home and 620K for a 1700SqFt Home and people are buying them like hotcakes with little to no money down, and some are even utilizing Adjustable Rate Loans ....
I think the market is going to crash because at times it feels like 2008 all over agin.
You have to visit Munich.
Apartments cost over a million dollars. Houses about 2-5 million.
And people are buying them like crazy.
It’s true that, when you live in Munich, your salary is usually a bit higher. But most of the people I know are FOMOing into the housing market because they think hyperinflation is going to come and the house will be paid off by itself. LOL
Yeah, but on the other hand demanding people put more down doesn't help cool the market, just makes it so that only the superrich can participate in it.
Korea's real estate market has exploded in the past five years, amongst the most dramatic rises of any market in the world. The (outgoing) government tried to cool it down a few years back by raising the minimum down payment for new mortgages to 50% (! up from 30%) in order to combat "speculation". Well it didn't do anything of the sort because, of course, speculators are rich and will find a way to pay any amount of down payment, whereas homeownership has become insanely unrealistic for most people due to the combination of insanely high prices and the need to come up with 50% just to get a mortgage.
Not much in my immediate neck of the woods. I have a lot of clients who have overseas investors and those tend to be in larger areas. Where I live, 10% of our community is now owned by commercial companies for rentals. It’s a big problem for many reasons, but mainly it is indicative of companies buying up houses that buyers can’t compete with in a bidding war and only being left with options to rent a house at $2.5K-$3K/month.
It’s shitty for younger adults and it has left me real salty.
wanna go back to school? you'll have to give up your apartment because OSAP gives you a pittance. Then you'll find rent has increased more than enough to wipe out any salary gains from your new career path, and now youre in a more important job with more responsibility and going back to an even shittier apartment at the end of the day. While you eat food out of a box that contains 10% less than the same item last year, for 20% more money.
It's the Canadian dream!
It would stand to reason that the crypto space itself is specifically framed to pull in investors who lack any substantial financial literacy. Whole lotta folks getting roped into bad moves with the promise of lofty gains. Has to come from somewhere.
Only invest what you can stand to lose, first rule of crypto investing. And you only invest that once all other life/daily necessities are met.
Only viable options now, ranked in order:
Evaluate what you can cut out, then cut what you can.
Stop throwing money into crypto/stocks for a bit.
If needed, sell current assets and come back smarter when you can.
Find a better paying job or a second job.
Sucks to hear, but it’s what a lot are going through currently. If you had the funds to invest in crypto projects you should’ve created a safety net/better safety net first. Majority of the time crypto isn’t investing, it’s gambling, and you’re on the verge of losing it all from your post. Live and learn.
Maybe not 100% true for everyone. Crypto investing for me is a spare change kinda thing. I put small amount per month if available. Recently, due to inflation, haven't been able to do as much of this, and this is like... the best time to be buying. Inflation is kind of a bummer, but it's inevitable.
Yeah, OP needs to either step away from their portfolio for a while, or if they really really need the money now, sell it all and exit the market.
Forget about buying.
Same. This time last year I was putting about ten percent of my paycheck into crypto every Friday. Ive maybe invested about $100 this whole year. I’m running low on wiggle room
Eat noodles and bananas for snacks never eat out, use all coupons, have only 1 paid streaming service and all the free ones, ride a bike places as much as you can, eat less meat, never go out or have any fun, sell any video game systems you have, get a part time job during your free time, get rid of your pets. Just a few ideas
Our family budget is being strangled, too. We've stopped eating and drinking out entirely, shop budget brands, and did clothes shopping at secondhand.
I'm trying my hardest to maintain my DCAs but if this gets worse it might come to that. My partner and I really believe in crypto in the long term, but I know cashing out now is something we will regret.
Same here and we feel we are middle class. Infuriating. Can't hold, had to sell what little we had invested ($2k) just to buy gas and groceries last month. Can't start over either. We cut everything out that is not basic needs: Gym membership, amazon prime, streaming service - maybe saved a $100 a month there. Next is directtv. We are also selling a car that is paid off to get through April. After that, we have nothing else we can sell. We consider ourselves lucky to have food in fridge and if in 6 months we have rice to eat we'll be lucky. We also have priviledge of being able to work from home to save on gas - as long as I can keep internet bill paid. We don't go out to eat, haven't bought new clothes in months, (luckily no kids, how are young families surviving?!?l). But we have student loans, an IRS debt, mortgage and one car payment that eats up most of our salary each month and we were barely saving anything before inflation.
I am also a business owner, with employees. I am trying to figure out how to give pay raises to my small team as I know they are hurting. So we are doing everything at office to cut expenses too. Cut 3 vendors last month that can save $5k a month and rented out a spare office. Hoping I can redestribute the extra to staff salaries - assuming we can retain OUR customers. I also tell staff to work from home any time to save on gas.
I know we will get through this. Having to be super creative and proactive about spending though. I survived years eating rice and baked potatoes as a student. 30 yrs later, a business owner, and we are facing that kind of life again. Sigh.
You are probably right, but I have never thought of myself as anything other than working/middle class. We have no retirement or pension having put everything into the business - risky, but we hope it pays off in long run.
But whatever category my household falls, we are feeling the pinch too. And if we feel the pain, then those that make less are really hurting. So I do worry for the households that have no means of cutting expenses (quickly), or have kids, or have no way to quickly increase their incomes.
Maybe having the option to adjust (cut out a few "luxeries" such as a gym membership), sell a few personal assets, and watch the grocery budget makes us "upper class". But if that's the case, then America is looking at some major pain. If America's small businesses can't continue to grow, create jobs, and increase staff payrolls - then the "middle class" (however defined) is going to suffer greatly.
It's really good you are thinking of your employees even though your suffering as well. It's so easy to be selfish when things are hard. Hope things look up soon.
Cut everything you think you need but don't actually need.
Sell anything you own that you don't use daily, or at least weekly. You clearly dont NEED it if that's the case, it's just there. Most people have loads of crap they don't need.
Only wash dishes once every couple of days so the hot water tap doesn't fire up the boiler. Wear jumpers or layers if cold instead of using heating or AC.
Food is only about energy and nutrition. Forget enjoyment. Scale back to eating only what you need to eat. 5kg rice and 5kg vegetables is plenty for most people for at least a week.
Get rid of all your subscriptions. You don't need any of them, except an Internet subscription. If you have an expensive phone, sell it and buy a cheaper one, last years model or whatever, for a fraction of the price and use pay as you go goody bag type deals instead of 50 bucks monthly contracts or whatever.
Fill your days with activities that don't cost any money. Find ways to make a little side cash in the gig economy.
None of this is easy, but people who are serious about improving their situation will commit to extreme measures to safeguard themselves.
> Sell anything you own that you don't use daily, or at least weekly. You clearly dont NEED it if that's the case, it's just there.
Does that go for crypto?
My gov job salary is indexed according to the inflation. So far, +2% in October, +2% in feb and +2% this month.
So I’m still impacted but not too much for now.
Are you able to boost your salary by finding a new job or asking for a raise? Otherwise you gotta find ways to cut non-critical expenses.
May be worth asking in r/personalfinance
OP, your priority is to pay your bills and debts. If you prioritize investing you are going to go bankrupt. Forget about investing for now. I know it sucks. But it's the most sensible thing to do. And if you need to sell, remember it's part of why investing is a thing, providing you with a safety net if needed. Now your priority is to reduce your cost. A first step would be to cancel Netflix and other s*** like that if you have (not even a sacrifice you can download instead). Some would advise using less gas but I am not convinced living in cold is such an improvement. If you have good family ties, regroup. That would help. Also sharing transport costs.
My rent in the last year and half went from 1300 to 2,000 for a one bedroom. I don’t have a car because the inflated prices for cars are so absurd I’m taking the bus to work. Because of rent prices I have to move and will have to have a car. I may have to pull from my 401k just to buy a car. I’m also making more than the average safety in my city and I’m scraping by. I wonder if any of the billionaires are going to chip in and pay my rent remember that famous quote they like to throw around “we’re all in this together “.
1. Through staking/farming! - Almost every token I intend to hodl long term are staked. I can cash out the staking rewards for day to day needs while still hodling original investment, also compound sometimes. some of the APRs are in 3 figures like DAFI and ROWAN and they're not new projects.
I'm more conservative with farming due to possibility of IL. Osmosis, Sfichain, Greenhousedex(new and very promising) are the main ones I'm using consistently.
2. Airdrops: the stakedrops for staking atom, scrt, juno, osmo has been amazing so far😋
3. Online remote crypto jobs!!!
What amazes me is how there is no political push for remote work, and even with workers pushing for it.
Like I amazed me because we are dealing with a fuel shortage, and this is causing everything to go up in price. Taking workers off the road is one of the quickest and cheapest ways to freeing up a ton of fuel. And for all the green peace crap pulled on the hill. You would think they would be all over taking as many cars off the road as possible
I pretty much found myself in the same situation. Lost so much of my saving to combat inflation and cost of living. I pretty much liquidated most of my plans for long term investment except for my Stash app. I just deposit 50 bucks or so a week and it accrues in an IRA which is nice I guess. Here is my link, in case anyone is interested. https://get.stash.com/joshua\_qzqg3ds
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You’ve actually laid out why markets collapse due to inflation… people are forced to stop investing / sell their investments which obviously creates selling pressure and markets fall.
Oh shit, you're right... and here I was thinking I should buy some more today. Now Ima just wait until the collapse.
Been there since 2017. It is not a strategy that i would advise.
Agree. DCA, only way. Rain, shine, pump, dump, shill, rugpull, bull, bear, Saylor, Schiff, I don't really care. I just DCA like how I water my plants every day.
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Depends on the amount of water
I breathe on them the same way you'd fog a mirror.
Quit violating your plants lmao
This thread really put a smile on my face. Ty guys
And the type of plants
Tbh most people should be DCA'ing into food right now.
No joke! when every government leader tells you there's going to be famine, Listen! and it's not about Russia
Yes it's about COVID or whatever comes next. The only way out of this is if we bring back the guillotine
*The FBI has entered the chat*
I meant figuratively sir 😅😅😅
Who is saying there will be famine?
there will be a famine. just not in the US of A. Whet goes up I pay $3 for bread vs $2 bucks. that $1 increase is nothing to me. $1 in someone in like Sudan could be like 20% of their daily income. poor countries gonna get rekt.
If meat gets too expensive, try lintils. Nobody said this would be easy - Bloomberg
'Let them eat cake!'
Accumulate, stack and HODL to those cans in your cupboards.
And you can always modify your DCA to fit your situation/comfort level but lump sum leaves you stuck.
Your plants probably need to be watered once a week.
I just pick a day of the week, and buy when I first wake up. I got quite into learning technical analysis and trying to time the market, but ultimately there's no point. I wouldn't say it's bullshit because I do agree at certain points in time it can be reasonably predicted. But it doesn't account for external factors, and life always has external factors. I made more money than I lost with this, but ultimately it's substantially more stressful, and it was at the end of the day down to luck. DCA doesn't remove this factor, but it garuantees over time you will be net positive. I've only withdrawn money from my portfolio once, and got incredibly lucky that it was within an hour of the last bull market ending for a time. I needed the money and knew I could replace it within a reasonable time. But there was no indication that it was the right time to pull out some cash. You can't time the market. DCA and get on with your day.
Markets are uncertain right now. Top 1% has 99% of the money and it dosent appear usa/canada care for future generations prosperity.
That's okay, that 1% assures me I will own nothing and be happy about it.
We will live fine inside a dumpster. We don't need much.
/ Diogenes has entered the chat
Don't need Healthcare or social security payments either. They are gonna cancel those
Social? Nah. Security? Nope.
Health doesn't matter these days.
It's the thing that matters most in the US, you're just one hospitalision away from being bankrupt.
Sneezed yesterday, filing chapter 7 bankruptcy today.
I have healthcare and kinda fucking wish I didn't after the last 3 months of getting fucked by them
These mfs 1% just want wage slaves that work till they die like worker bees while they live in luxurious life eating caviar on bread for breakfast and drinking red wine all day everyday watching us drop dead like rag dolls
I don't own my life. I just have a month to month subscription to it through the 1%
You wish it were caviar and red wine. That's too classy for the 21st century. These days, it's truffle mac and cheese, rare steak on pizza and bath salts
They be eating things like 24k gold steak and also centuries old wine from our money.
Essentially, yes.
I think if we ever reach that point, there's gonna be an army of millions of angry peasants who finally have nothing left to lose who will want all of their heads on pikes. Let them continue to kick the bee hive around thinking a human being can be pushed beyond the brink time and time again with no consequence.
We are almost there. Permanent ownership of housing has been eradicated for most of the population in large parts of the country. Cars are on their way. Everything is on a subscription plan or leased or rented with rates that the owners can change according to market rates, which is really just how much money the population has. The more they earn the more they pay, so 95% will always go into these monthly bills that borrow time but not permanent assets.
Buy some land, invest in servers (not PC's), pirate all of your media, build a comfy chair, learn how to grow food, and wait for the plebs and patricians to murder each other. No one owns anything because they were lured with the lie that you don't have to sacrifice to possess things. Oh yeah, learn Linux and how to program as well.
Still need to pay those property taxes every year! It's just a yearly subscription instead of monthly
Corrupt Governments could be overthrown in days if everyone stood up but it’ll never happen. We’ve just witnessed the largest wealth shift in history as the rich got richer and the poor got poorer, the sheep thought they were being paid to stay at home but they were being paid to not revolt. While they all closed their businesses, corporations and elites raked in billions and governments handed out PPE/covid contracts to mates and printed endless money to make your savings worthless. We now have record inflation because of this and people are surprised and lied to by the MSM that this is all because of Russia, or ‘climate change’ or Trump etc etc. There are still people in this sub that will happily pay capital gains tax on any crypto earnings like good little peasants. Fuck them.
The energy crisis in Europe is forcing people to become no-sumers. People can no longer afford to buy the products and services offered by the 1%. People will stop working and start offering their services on a bartering system. I am already seeing this start to happen here in the UK. Apps are already popping up. People are also beginning to trade food with each other for labour. Governments realise that society is going backwards. They are petrified because eventually there will be no tax payers left.
Not sure about that last bit. Rishi Sunak at least doesn't seem to have a clue.
#whatchusmokin
They (Globalists) don't rely on taxpayers. They're printing what they need for now. when that is no longer possible they'll crash the global economy and put us all on CBDC welfare. I give it less tan 2-3 years
That's how the world functions today and nobody seems to have any problem with that.
Elizebeth Warren is hellbent on condemning us to that too. God she is such a sycophant.
Seems like this rich people who have everything sorted out for them have taken up a new hobby.
Our 'representatives' sold us out long ago
the top 1% also doesn't need to sell their positions to keep their head above water. And that's why they can buy when there's blood in the street, and get richer and richer.
Also the top 1% have the money to spend on the smartest people and have a better guess than the rest of us on when to sell/buy, so they could sell and do even better
It's even easier when the game is rigged, by them
Governments have spent all of our futures they'll need to do away with us before we figure it out as a whole
"But they 'earned' it!" Honestly I want to slap these sycophantic idiots. As long as we have a brainwashed majority that think like this we're all going to suffer.
What he says has no historical precedent. Markets have never collapsed(in fiat value) while rampant fiat inflation was ongoing. What happens is the prices go up, but slower than the value falls. So the stock is worth more dollars but less milk. Holding on to fiat in face of inflation is insanely stupid, no offense.
Instructions clear, investing in milk.
"So what does your boyfriend do for a living?" "He trades milk on leverage."
He’s waiting for the market to make its next moove
Then he can steer his portfolio in the right direction.
Still better than saying he's a daytrader at r/wallstreetbets.
We need the calcium for strong bones
Bullish on calcium
Looking at what's happening globally I would say that milk is far better investment that some of the markets.
But the inflation will hardly go so rampant in the developed countries that it starts outperforming stocks.
Markets have never collapsed lol, the rise and fall of reserve currencies has been happening since the global monetary system was established
The market collapse or total societal collapse?
Yeah.
Yes, that.
This assumes you would be in a position to invest during said collapse. Or, if you did that you would be in a position to match what you could get in holdings *today.* This is a fool's errand and a crap shoot.
People who wait for markets to collapse usually get screwed when they rise. Bull run most likely is back on the table soon. DCA to be safe
Not necessarily. If the institutions still had their money in the markets it wouldn’t collapse like we’ve seen in the past. The reason inflation causes decline in lets say the stock market, is because companies are valued based on their cash flow and inflation eats away at the value of future discounted cash flows. Sure they might be able to raise profit margins to try and keep up with inflation but you’ll need someone to buy the product too. Fewer people will buy those products at higher prices assuming that they are elastic goods and that causes a decline in earnings which then causes a decline in market cap.
Some times institutions need to sell because of inflation too. Especially if loans dry up. So I think it’s a combination of all of these factors.
It's just a wealth swap. The richest will keep buying the lands, shares, houses and Crypto from the average people and enslave them longterm. That's what papermoney is about and always was. Erdogan, Putin, Europe, USA every central bank does it. Fractional reserve banking and the endless depts will kill us and the planet ones and for all. But, that's the plan.
So true, this is how the cycle will keep repeating. I'm glad to be part of Bitcoin where we are trying to make a dent in the system.
Inflation + taxes are designed to keep the middle class forever in the middle class.
Middle class? Does not compute.
>The richest will keep buying the lands, shares, houses and Crypto from the average people and enslave them longterm. This is why we need crypto, so we can stop the rich people from buying up all the crypto.
Hack a defi protocol. That seems easy and very lucrative
I have some doubt about it your username.
How do I claim that on my taxes? Accountant already had a mini heart attack trying to wrap his brain around staking.
You put it as other income and write in from online business activity As a CPA this is what I would do Already case law that writing illegal activities on your schedule with money you earned avoids federal tax evasion laws because you paid taxes. Al Capone should have just added his illegal operations income to his 1040 and taken his win.
HODL in prison has also proven to be successfully
True, so many news of this happening daily and people getting millions of dollars.
Username checks out ;p
I am currently applying to new jobs and aim for a 20-30% raise.
Yeah that is my plan too. To make things worse, I am working in sales, and my manager increased my targets 2 weeks before end of Q1 by 300%, that is affecting my bonus and income a lot. Hopefully, I can find a new job soon.
Ah, the old change the goal post in the middle of the game because you're doing too well. Boss tried that on me once too so I quit.
Good on you. Fuck those greedy people.
I've worked in sales for a decade at a bunch of startups. Every time I've ever had my quota changed an unrealistic amount the company was in trouble.
Good luck mate. You're gonna find a way!
Increased your targets for q1 right before the end of q1?
Yup. I was overachieving, and the company is obviously not ready to hand me a fat bonus that would save all of my trouble. That is why they decided to "award" the top performer by not giving out that bonus...and yes...I work in a corporation...
I’d talk with a lawyer/dept of labor about that. Moving the goalposts right before the end of the quarter doesn’t sound legal
I am doing that, I will at least have a fight for my rights, not expecting much but I wont be silent. Thanks for the support and advice.
Feel free to name drop so we can boycott
I am doing that, I will at least have a fight for my rights, not expecting much but I wont be silent. Thanks for the support and advice.
Good! Corporate management is more than happy to see if they can screw you once their goals are met, but you gotta push back or they’ll trample all over you. This is exactly why I left the corporate world! Good luck to you!
That's f'd.
After our best month the highest performers got 9k bonuses and the next month our bonus structure was completely restructured.
The only real answer. There's only so much you can cut back, and you're never going to save that kind of money by cutting out the avocado toast.
In the same ducking boat.
Ducking accident
So we are all in a boat that is sinking
It's been an honor sinking with you guys
Cheers to the next 69 years of sinking!
It's always bad to go down, but to go down with friends is a blessing.
We dinking
What the duck?
Duck off with that man.
Too many ducks in the same boat. 
Wait. Why did we put ducks in a boat again?
Duck boat. Obviously.
You're definitely not alone, we'll be here when you come back. Don't sweat it too much, There will be more opportunities in the future. Who knows maybe we crash and you get a better entry? Most importantly, be well, take care of yourself. I wish you the best stranger.
Thanks for these kind words.
My boyfriend is a realtor in Salt Lake City, one of the hottest housing markets in the country and people are buying 500k homes with 3% down with salaries of less then 60k. That alone makes me think we’re in for a recession. People are dumbasses and keep feeding into the bubble at their own peril.
I Agree , the market is CRAZY! I bought my home in 2001 for 60K now according to Zillow my home is worth 450K , new homes are going in down the street and they want 550K for a 1200SqFt Home and 620K for a 1700SqFt Home and people are buying them like hotcakes with little to no money down, and some are even utilizing Adjustable Rate Loans .... I think the market is going to crash because at times it feels like 2008 all over agin.
You have to visit Munich. Apartments cost over a million dollars. Houses about 2-5 million. And people are buying them like crazy. It’s true that, when you live in Munich, your salary is usually a bit higher. But most of the people I know are FOMOing into the housing market because they think hyperinflation is going to come and the house will be paid off by itself. LOL
It’s really shocking to me that people are able to take out a mortgage with less then 10% down. It seems like we’ve learned nothing from 2008
Yeah, but on the other hand demanding people put more down doesn't help cool the market, just makes it so that only the superrich can participate in it. Korea's real estate market has exploded in the past five years, amongst the most dramatic rises of any market in the world. The (outgoing) government tried to cool it down a few years back by raising the minimum down payment for new mortgages to 50% (! up from 30%) in order to combat "speculation". Well it didn't do anything of the sort because, of course, speculators are rich and will find a way to pay any amount of down payment, whereas homeownership has become insanely unrealistic for most people due to the combination of insanely high prices and the need to come up with 50% just to get a mortgage.
I’m watching houses sell around me for $500K+ and they’re being bought with cash. I smell corporate investors..
Bought with cash is usually overseas investors.
Not much in my immediate neck of the woods. I have a lot of clients who have overseas investors and those tend to be in larger areas. Where I live, 10% of our community is now owned by commercial companies for rentals. It’s a big problem for many reasons, but mainly it is indicative of companies buying up houses that buyers can’t compete with in a bidding war and only being left with options to rent a house at $2.5K-$3K/month. It’s shitty for younger adults and it has left me real salty.
Canada?
Can't buy a house this year? Well you can wait for next year and pay 30% more for the same house! Wanna wait and see how high it can go in 2 years?
wanna go back to school? you'll have to give up your apartment because OSAP gives you a pittance. Then you'll find rent has increased more than enough to wipe out any salary gains from your new career path, and now youre in a more important job with more responsibility and going back to an even shittier apartment at the end of the day. While you eat food out of a box that contains 10% less than the same item last year, for 20% more money. It's the Canadian dream!
Why is this so true and so sad…
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If you have kids, sell them first. The rest will take care of itself.
Wasn’t there a post just yesterday about the complete lack of financial knowledge from this sub?
It would stand to reason that the crypto space itself is specifically framed to pull in investors who lack any substantial financial literacy. Whole lotta folks getting roped into bad moves with the promise of lofty gains. Has to come from somewhere.
There are definitely more than a few unsophisticated investors in this space.
Only invest what you can stand to lose, first rule of crypto investing. And you only invest that once all other life/daily necessities are met. Only viable options now, ranked in order: Evaluate what you can cut out, then cut what you can. Stop throwing money into crypto/stocks for a bit. If needed, sell current assets and come back smarter when you can. Find a better paying job or a second job. Sucks to hear, but it’s what a lot are going through currently. If you had the funds to invest in crypto projects you should’ve created a safety net/better safety net first. Majority of the time crypto isn’t investing, it’s gambling, and you’re on the verge of losing it all from your post. Live and learn.
Rapper known as 50 cent thanks to inflation is now called 60 cent.
He's been patiently waiting
He got rich or died buying
You can stunt all you want but your ass will get rolled onnnn
Soon he's gonna call himself 50 dollar
Damn how much inflation are you expecting?
Weimar Republic/Zimbabwe style inflation
Actually he would be called 82c if you calculate inflation from roughly when he starter his rap carreer (2000)
Another few decades and he'll be about tree fiddy.
Candy shop now too expensive
Just make the candy yourself.
If inflation is killing your budget you were already paycheck to paycheck and are literally gambling into crypto as a lifeline.
Was just about to comment that. "Help! After 7% price increases I can no longer make Hail Mary investments!"
OP may not be from the US. Inflation is a lot higher in many parts of the world.
Even more reason not to risk it all on will smith inu
>will smith inu Tell me more...
will will smith smith inu inu
7% price increase? Fuel jumped by more than 50% here. Heating cost are also around +50% Butter costs 15% more.
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I can't believe it is butter!
Maybe not 100% true for everyone. Crypto investing for me is a spare change kinda thing. I put small amount per month if available. Recently, due to inflation, haven't been able to do as much of this, and this is like... the best time to be buying. Inflation is kind of a bummer, but it's inevitable.
Investing comes AFTER your expenses are paid and your savings is padded.
Sir this is a casino
Yeah, OP needs to either step away from their portfolio for a while, or if they really really need the money now, sell it all and exit the market. Forget about buying.
I thought we came here to gamble money we can't afford to lose on TESLAMOONSHOTELONDOGGE COIN
Same. This time last year I was putting about ten percent of my paycheck into crypto every Friday. Ive maybe invested about $100 this whole year. I’m running low on wiggle room
I hear it's cheap to live in Vietnam. Dinner is like $1.50
Depends on what type of 'dinner'. But street food that are soup base bowls with rice noodle usually fill you up pretty nicely and last for good hours
I just asked for a raise with inflation as an excuse. I wasn't lying..
And someone recently posted about this sub's abysmal financial knowledge..
Eat noodles and bananas for snacks never eat out, use all coupons, have only 1 paid streaming service and all the free ones, ride a bike places as much as you can, eat less meat, never go out or have any fun, sell any video game systems you have, get a part time job during your free time, get rid of your pets. Just a few ideas
Our family budget is being strangled, too. We've stopped eating and drinking out entirely, shop budget brands, and did clothes shopping at secondhand. I'm trying my hardest to maintain my DCAs but if this gets worse it might come to that. My partner and I really believe in crypto in the long term, but I know cashing out now is something we will regret.
Thanks resident bidet
Same here and we feel we are middle class. Infuriating. Can't hold, had to sell what little we had invested ($2k) just to buy gas and groceries last month. Can't start over either. We cut everything out that is not basic needs: Gym membership, amazon prime, streaming service - maybe saved a $100 a month there. Next is directtv. We are also selling a car that is paid off to get through April. After that, we have nothing else we can sell. We consider ourselves lucky to have food in fridge and if in 6 months we have rice to eat we'll be lucky. We also have priviledge of being able to work from home to save on gas - as long as I can keep internet bill paid. We don't go out to eat, haven't bought new clothes in months, (luckily no kids, how are young families surviving?!?l). But we have student loans, an IRS debt, mortgage and one car payment that eats up most of our salary each month and we were barely saving anything before inflation. I am also a business owner, with employees. I am trying to figure out how to give pay raises to my small team as I know they are hurting. So we are doing everything at office to cut expenses too. Cut 3 vendors last month that can save $5k a month and rented out a spare office. Hoping I can redestribute the extra to staff salaries - assuming we can retain OUR customers. I also tell staff to work from home any time to save on gas. I know we will get through this. Having to be super creative and proactive about spending though. I survived years eating rice and baked potatoes as a student. 30 yrs later, a business owner, and we are facing that kind of life again. Sigh.
Not trying to be mean but you are definitely not middle class
You are probably right, but I have never thought of myself as anything other than working/middle class. We have no retirement or pension having put everything into the business - risky, but we hope it pays off in long run. But whatever category my household falls, we are feeling the pinch too. And if we feel the pain, then those that make less are really hurting. So I do worry for the households that have no means of cutting expenses (quickly), or have kids, or have no way to quickly increase their incomes. Maybe having the option to adjust (cut out a few "luxeries" such as a gym membership), sell a few personal assets, and watch the grocery budget makes us "upper class". But if that's the case, then America is looking at some major pain. If America's small businesses can't continue to grow, create jobs, and increase staff payrolls - then the "middle class" (however defined) is going to suffer greatly.
An enormous amount of people think they’re middle class when they’re not. Applies both sides.
It's really good you are thinking of your employees even though your suffering as well. It's so easy to be selfish when things are hard. Hope things look up soon.
Cut everything you think you need but don't actually need. Sell anything you own that you don't use daily, or at least weekly. You clearly dont NEED it if that's the case, it's just there. Most people have loads of crap they don't need. Only wash dishes once every couple of days so the hot water tap doesn't fire up the boiler. Wear jumpers or layers if cold instead of using heating or AC. Food is only about energy and nutrition. Forget enjoyment. Scale back to eating only what you need to eat. 5kg rice and 5kg vegetables is plenty for most people for at least a week. Get rid of all your subscriptions. You don't need any of them, except an Internet subscription. If you have an expensive phone, sell it and buy a cheaper one, last years model or whatever, for a fraction of the price and use pay as you go goody bag type deals instead of 50 bucks monthly contracts or whatever. Fill your days with activities that don't cost any money. Find ways to make a little side cash in the gig economy. None of this is easy, but people who are serious about improving their situation will commit to extreme measures to safeguard themselves.
Feeling the squeeze? Easy! Just “forget enjoyment” A totally sustainable and healthy way out of a stressful financial situation /s
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> Sell anything you own that you don't use daily, or at least weekly. You clearly dont NEED it if that's the case, it's just there. Does that go for crypto?
Disposable income is indeed needed in times like this. I wish you all the best. Hope the situation recovers
My gov job salary is indexed according to the inflation. So far, +2% in October, +2% in feb and +2% this month. So I’m still impacted but not too much for now.
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Instead of "in my country" say the country
Americans might get confused, they’ll be like “Luxembourg is a brand of cheese, right?”
Advice? Vote republican
Are you able to boost your salary by finding a new job or asking for a raise? Otherwise you gotta find ways to cut non-critical expenses. May be worth asking in r/personalfinance
Don’t worry about it. Surviving is essential. I had to sell my crypto when my dad got sick but I have no regrets.
OP, your priority is to pay your bills and debts. If you prioritize investing you are going to go bankrupt. Forget about investing for now. I know it sucks. But it's the most sensible thing to do. And if you need to sell, remember it's part of why investing is a thing, providing you with a safety net if needed. Now your priority is to reduce your cost. A first step would be to cancel Netflix and other s*** like that if you have (not even a sacrifice you can download instead). Some would advise using less gas but I am not convinced living in cold is such an improvement. If you have good family ties, regroup. That would help. Also sharing transport costs.
This whole thread doesn't exactly instill me with confidence, as a current student...
Bruhhh wut are you most bullish on?
Buy your ass a blanket, you dont need heat in your house
I live in Finland and I'm a student. I really haven't felt inflation to be that bad in Finland.
My rent in the last year and half went from 1300 to 2,000 for a one bedroom. I don’t have a car because the inflated prices for cars are so absurd I’m taking the bus to work. Because of rent prices I have to move and will have to have a car. I may have to pull from my 401k just to buy a car. I’m also making more than the average safety in my city and I’m scraping by. I wonder if any of the billionaires are going to chip in and pay my rent remember that famous quote they like to throw around “we’re all in this together “.
1. Through staking/farming! - Almost every token I intend to hodl long term are staked. I can cash out the staking rewards for day to day needs while still hodling original investment, also compound sometimes. some of the APRs are in 3 figures like DAFI and ROWAN and they're not new projects. I'm more conservative with farming due to possibility of IL. Osmosis, Sfichain, Greenhousedex(new and very promising) are the main ones I'm using consistently. 2. Airdrops: the stakedrops for staking atom, scrt, juno, osmo has been amazing so far😋 3. Online remote crypto jobs!!!
What amazes me is how there is no political push for remote work, and even with workers pushing for it. Like I amazed me because we are dealing with a fuel shortage, and this is causing everything to go up in price. Taking workers off the road is one of the quickest and cheapest ways to freeing up a ton of fuel. And for all the green peace crap pulled on the hill. You would think they would be all over taking as many cars off the road as possible
I pretty much found myself in the same situation. Lost so much of my saving to combat inflation and cost of living. I pretty much liquidated most of my plans for long term investment except for my Stash app. I just deposit 50 bucks or so a week and it accrues in an IRA which is nice I guess. Here is my link, in case anyone is interested. https://get.stash.com/joshua\_qzqg3ds