My dad sold his parents house that he inherited after they died in 2018 for $1 million
How much would this be worth today if kept it?
It was large block with large family home in a gentrified area
He has 560k left and is asking me if he should buy some btc
around 1.5m
You serious?? Ffs
And my dad sold it because he wanted to pay debts off … fuck
Your dad was a 2-3x kinda retard, if my tally is right.
1. Liquidating an asset that probably mooned
2. Apparently spending a little over $100k/year for the past 4 years
3. Somehow LOSING net worth, as a high 6/low 7 figs net worth person, during the everything bull run of 2020-2021? How?
He spent
>150k paying off credit card debt he accumulated
>50k to sister for her wedding
>50k to brother for his wedding
>50k bought himself a new car
That was the first 6 months, fast forward to today and he had 560k left. He has always been the type of person who thinks investments are a scam and that you only lose money, at least until recently, now he’s asking me if he should buy some bitcoin
oppoorunity cost
your dad is a retard, if you want crypto i would go with eth. its safe but pump harder than boomercoin. just dca as we not pumping anytime soon i guess
ETH 2.0 is already priced in. It’s unscalable and too expensive to use. Made a lot of people rich but will probably be outperformed by cleaner L1’s in the next 5-10 years
Denying me access to clean water is in scope, eh? They can't deny water altogether but they can make sure I only drink water that they shit in?
It might be worth about $1.5-$2M now. What did he invest the $440k in?
>150k cc debt
Nice larp
yeah but in a bull market it pumps better than btc , i am advising eth since its safe and boomer friendly but if you want high risk high reward and got balls for it then go with HEX
Get him to buy bitcoin
>do it in a way where his BTC goes to one of your secret wallets
>rug him
before this moron spends any more on consumerism bullshit
Honest opinion: your dad is not a retard. That’s really, in the end, what money is for. It’s the reason most people dream of making it, to be able to do just those things. They are important milestones and give peace of mind. Your dad, like most people, probably felt like $1M was about as close to making it as he was going to get and did nice things with the money, it could most definitely have been worse. And now he has even started coming to the realization that it could be intelligent to invest some of what he has left. Your dad seems like a good guy, don’t give him a bunch of wild advice, help him dca into bluechips in crypto and stocks.
I actually don't think he's a retard for having sold. The housing market is super fucking hot and desperately needs to cool off, and the longer I goes without some kind of correction the more violent it's going to be when it does finally happen.
What he is an idiot for is not immediately investing it somewhere else.
>50k for sister's wedding
what the fuck talk about throwing money in the trash. Funniest thing is that statistically, the more money spent on the wedding day the more likely the marriage will fail, and I don't need to tell you about marriage stats in general. Your sister WILL cheat on her husband and divorce him, that's almost a certainty. What a waste. Back to your question, your dad probably lost out on 50-70% extra returns on the sales
You let Any Forums get into your head. Listen to the guys telling you he did the right thing. If the market crashed (and it is hot as fuck) he would be considered a galaxy brain no-gambler since he sold before it lost its value. Paying off debts for peace of mind and supporting your children is worth more than any hedonistic luxury in the world. And he even got a car and has shit left to invest/live on? Fucking amazing my friend. Remember that 90% of people on this planet have less than that and will never get close to it.
if she divorce rapes him it was actually an investment, dad is a pro
jesus christ
just tell your dad to give you all of his money
>oh no in hindsight my dad should have gambled it all so he could have even bigger numbers of fake currency now, how do I cope
this is absolutely retarded, but if that is what is important to your dad he did right. and yes, he should buy bitcoin, if he wants to keep his value and not let it be taken by (((them))). he should know what he is getting into and be aware that it easily could go sub 10k anytime, though.
>and is asking me if he should buy some btc
So what did you tell him?
>He spent
k paying off credit card debt he accumulated
k to sister for her wedding
k to brother for his wedding
k bought himself a new car
Americans never cease to amaze me with their stupidity.