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What do you recommend for people who want to increase their wealth but aren't rich yet? The people who have potential and a solid foundation but don't yet have

What do you recommend for people who want to increase their wealth but aren't rich yet? The people who have potential and a solid foundation but don't yet have the capital necessary to move around like that and find the most favorable place.

Trias11 5y ago
Education, investments, creative work. Of course investments in the country where corrupt polititicans are proposing doubling capital gain tax is not going to work.
vmception 5y ago
Momentum trading is all you have. So last week that was Dogecoin and a few years ago it was value investing. The answer is “make money” and let it be taxed. The governments dont care about after-tax money which can then go anywhere unaccounted for. Thats when it can go in a tax deferred account in perpetuity.
- WaxProlix 5y ago
  It'd be nice if there were some sort of 70+% reliable rule of thumb for this. I say this as someone who's made money on both value investing and dogecoin, but who's still anxious when taking on risk in new momentum-y ventures.
  - vmception 5y ago
    There isn't. The only 70+% reliable rule is general personal finance advice: "Dollar cost average" "Diversify" "The broad index of equities goes up by 7% on average annually over your whole life span, do this and you can afford an extra tennis ball on your walker in a few decades when your body fails you" If some aspect of that sounded less appealing, then you are back to momentum trading and looking for opportunities that distort the market and reality and bet the farm when you make the trade at all. Try to have fun, usually it comes with dopamine.
- incrudible 5y ago
  How depressing that people on HN of all places think of Dogecoin trading before starting a business. If that is really your perspective, why live in the US?
  - deleted 5y ago
    [deleted]
  - vmception 5y ago
    Correct, you don't need any infrastructure of the US to make money. It offers nothing except a collective culture of growth expectations. But you don't need any aspect of the US to act on it. The variety of growth capital from a wide array of investment firms is only available to a thin sliver of society that has a similar background as the investment firm directors, which would make prioritizing "starting a business" to be a waste of time in comparison to an internationally available opportunity like Dogecoin, an opportunity which only needed to last a few weeks before the market reverts to allocating capital in other things. Be depressed. The rest of us just want to give an answer to the question.
ficklepickle 5y ago
> aren't rich yet This is the real reason the ultra-wealthy aren't taxed. People think that they are obviously going to become rich any day now, and they won't want to pay high taxes when it inevitability happens. Some strange, shared delusion of the middle class.
- alasdair_ 5y ago
  >the ultra-wealthy aren't taxed. The ultra-wealthy pay more tax per capita than any other group. This is the opposite of "aren't taxed"
rufus_foreman 5y ago
One word, Dogecoin.

Trias11 5y ago

Education, investments, creative work. Of course investments in the country where corrupt polititicans are proposing doubling capital gain tax is not going to work.

vmception 5y ago

Momentum trading is all you have. So last week that was Dogecoin and a few years ago it was value investing. The answer is “make money” and let it be taxed. The governments dont care about after-tax money which can then go anywhere unaccounted for. Thats when it can go in a tax deferred account in perpetuity.

WaxProlix 5y ago
It'd be nice if there were some sort of 70+% reliable rule of thumb for this. I say this as someone who's made money on both value investing and dogecoin, but who's still anxious when taking on risk in new momentum-y ventures.
- vmception 5y ago
  There isn't. The only 70+% reliable rule is general personal finance advice: "Dollar cost average" "Diversify" "The broad index of equities goes up by 7% on average annually over your whole life span, do this and you can afford an extra tennis ball on your walker in a few decades when your body fails you" If some aspect of that sounded less appealing, then you are back to momentum trading and looking for opportunities that distort the market and reality and bet the farm when you make the trade at all. Try to have fun, usually it comes with dopamine.
incrudible 5y ago
How depressing that people on HN of all places think of Dogecoin trading before starting a business. If that is really your perspective, why live in the US?
- deleted 5y ago
  [deleted]
- vmception 5y ago
  Correct, you don't need any infrastructure of the US to make money. It offers nothing except a collective culture of growth expectations. But you don't need any aspect of the US to act on it. The variety of growth capital from a wide array of investment firms is only available to a thin sliver of society that has a similar background as the investment firm directors, which would make prioritizing "starting a business" to be a waste of time in comparison to an internationally available opportunity like Dogecoin, an opportunity which only needed to last a few weeks before the market reverts to allocating capital in other things. Be depressed. The rest of us just want to give an answer to the question.

ficklepickle 5y ago

> aren't rich yet This is the real reason the ultra-wealthy aren't taxed. People think that they are obviously going to become rich any day now, and they won't want to pay high taxes when it inevitability happens. Some strange, shared delusion of the middle class.

alasdair_ 5y ago
>the ultra-wealthy aren't taxed. The ultra-wealthy pay more tax per capita than any other group. This is the opposite of "aren't taxed"

rufus_foreman 5y ago

One word, Dogecoin.