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10 10
My road to success (Moving Update 2)

Entry posted by uchiha101 · - 7,572 views

This thread will be about my journey to the million dollar comic and the struggles, failures and successes that come with it since many boardies requested it I will not longer post my transactions but try what revat said :). I also have a bunch of inspirational people two of them being Walt Disney and Steve Jobs because I want to be the next rags to riches story not to the degree of Steve Jobs or Walt Disney but I want to make a million dollars buying and selling a comic and making enough money with this venture to never again say I can't afford something :)

 

Thoughts and plans

Sell my comics

Sell IH 180 CGC 5.0

 

Milestones I want to reach

Get my first four figure sale

 

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10 10


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Apologies in advance if I misinterpreted anything.  I read most, skimmed the rest.  12 pages is a lot and some of us have work.

I will start by saying there's nothing wrong with staying at home.  In the US, we culturally make fun of people who don't move out soon after college.  I've found that this same "friendly ribbing" occurs less frequently in other countries and that it is often widely accepted to live at home with your parents (at least longer than it would be in the US).  Your unfortunate circumstance is that your parents are unable to support you, let alone themselves.  Under normal circumstances, if you are working a steady job and saving towards your own place, then others will accept you living at home because there is a firm end goal that is established.  However, if you bring nothing to the table financially, you're basically living off your parents during a period in your life where you should be padding your bank account to eventually support them.

That said, I'm trying to get a better understanding of your financial situation.  Several questions:

1) In 2018, did you work at an actual place of employment with consistent paychecks?  If so, how long were you employed and how much were you making per month?

2) The larger bulk of your money (or at least a larger part of the discussion) has been the money you make in your "business" (selling comics, video games, and other assorted hobby items.)  In 2018, what was your average profit per month from your "business"?  How much time per month is devoted to your "business"?

6 hours ago, uchiha101 said:

The interest rate on the card doesn't apply anymore but it used to be 26%. I now get charged $1.30 every day in interest.

I get the sense you don't fully understand the bank/credit system.  You state that the interest rate on the card doesn't apply anymore.  Then state you're being charged daily for interest.  The interest rate does in fact matter.  26% is the APR (annual percentage rate) which means on a daily basis, your total balance is being charged 0.07% (26% APR/365 days= 0.07%).  If you multiply that by $2800 (the balance on your credit card last you checked), you arrive at a daily interest fee of $1.99 being tacked on to your account.  Now, you said previously that you tried to ask the bank about it, but they had no record of your account.  This can't be true because if it was, they wouldn't be charging you interest every day.

Now, you also say you have crypto.  When did you buy and what is it's current value?  World markets have been crushed the last quarter and you need to evaluate your holdings to see if the money can be better used elsewhere.  In this case, is it better to hold the crypto or to pay off the debt and avoid anymore fees?  The answer is, if you are confident that crypto will garner returns in excess of 26%, then that's the way to go.  If not, then you're better off paying off your debt.  Here's the thing, markets are unpredictable.  There is no way you can say with 100% certainty that crypto will yield you those returns.  And that's before I even look at the metrics of cryptocurrency.  By all accounts you should be funneling as much money as possible to pay off the debt.  That level of interest is not sustainable for you in your current position.

I've got more to say, but some of it is dependent on answers to my questions above.

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I don't know much about cryptocurrency, but don't you need to have a pass code or something to access your crypto wallet?  Seeing how Gabe's life is a constant downward spiral, I can see him losing this information which will result in the next hilarious chapter of his "story".

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On 1/17/2019 at 2:27 PM, thehumantorch said:

The token amount you pay for rent and whatever food you bring to the table may be meaningful contributions in your mind but hardly compensate your parents for the joy of taking care of you.  Welfare won't come close to paying real rent and all the other associated costs of living so calling you a freeloader is at least partially accurate.  Move out on your own and pay all the expenses and prove me wrong.

Clearly your parents have struggled with your issues, as have you, for your entire life, and clearly they're tired of it.  It's absolutely clear that you don't appreciate their help, make no mistake Gabe they're helping you now and they've helped you all your life, and you're angry and hostile towards them.

Let's clear a few things up. It's not a token amount but the cheapest going rate for a room and yes I've been checking. As for my parents, you have no idea how they treat me so don't begin to speak of them as you do. I know what they have done for me in the past and I'm thankful but they're terrible people.

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21 hours ago, Wall-Crawler said:

How does the interest rate not apply anymore? As minimum payments go by unpaid, the debt gets larger and are you not then paying interest on the higher debt load?   Even if what you say is true ($1.30 every day) you are looking at approximately $500 interest added onto your debt load per year, but I suspect it is more than that. 

If your case worker and everyone here is telling you to start or figure out a way to start paying it, maybe you should take that advice.

Yes, I mean the fact that you don't have a regular source of income. 

Now you reveal one of the reasons why you stopped selling was that you didn't have enough money to ship things?  Dude, if you can't afford to ship things (don't buyers pay shipping), you are clearly doing this wrong and need a J-O-B.

You need to realize you cannot "compartmentalize" your financial life. It does not work that way. The banks, creditors, landlords, prospective employers, heck your prospective buyers and consignors are not going to trust a guy like you or give a rats arse if your "up" $5 in crypto but you are in debt, have no job or means to support yourself and giving a big "FU" to institutions you signed a legal agreement with because YOU feel slighted/wronged.

You seem to blame a lot of people for your problems, both your employers, financial institutions, your parents...I don't doubt that you have issues that are contributing to your woes but I also get the sense you would be very difficult to manage, maybe that is part of your issues. I don't know.  I think everyone here would be happier to hear about what you are trying to do to better yourself, looking into what mental health resources you can potentially access, your journey to seek help and become self-sufficient instead of your dealings in crypto, comics and online sex games with your zombie wife.

It is true because I had calls from the collections guys every day and until I finally answered them they told me what was going on.

Well, I never said I would never pay off any of my debts.

Buyers pay to ship but that still comes out of my pocket and I need to pay for it to be shipped. And why can't I compartmentalize things in my financial life? It's a good way of breaking things down and seeing a visual representation of what I need to improve on and fix. 

I have been changing a lot whether you believe that or not, I don't say or do things without reason and haven't been for a while. Do you think I'm lying about any of what I have said? I'm not doing this for pity or to impress any of you, it's my journal so people see my journey. Honestly, I think it's perfect because it will show people all the work that goes behind everything. Also, my plan for this year is written down on this journal so you can go check it and no my wife isn't a zombie.

 

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1 minute ago, uchiha101 said:

It is true because I had calls from the collections guys every day and until I finally answered them they told me what was going on.

Well, I never said I would never pay off any of my debts.

Buyers pay to ship but that still comes out of my pocket and I need to pay for it to be shipped. And why can't I compartmentalize things in my financial life? It's a good way of breaking things down and seeing a visual representation of what I need to improve on and fix. 

I have been changing a lot whether you believe that or not, I don't say or do things without reason and haven't been for a while. Do you think I'm lying about any of what I have said? I'm not doing this for pity or to impress any of you, it's my journal so people see my journey. Honestly, I think it's perfect because it will show people all the work that goes behind everything. Also, my plan for this year is written down on this journal so you can go check it and no my wife isn't a zombie.

 

When did you get a wife???

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20 hours ago, ExNihilo said:

Apologies in advance if I misinterpreted anything.  I read most, skimmed the rest.  12 pages is a lot and some of us have work.

I will start by saying there's nothing wrong with staying at home.  In the US, we culturally make fun of people who don't move out soon after college.  I've found that this same "friendly ribbing" occurs less frequently in other countries and that it is often widely accepted to live at home with your parents (at least longer than it would be in the US).  Your unfortunate circumstance is that your parents are unable to support you, let alone themselves.  Under normal circumstances, if you are working a steady job and saving towards your own place, then others will accept you living at home because there is a firm end goal that is established.  However, if you bring nothing to the table financially, you're basically living off your parents during a period in your life where you should be padding your bank account to eventually support them.

That said, I'm trying to get a better understanding of your financial situation.  Several questions:

1) In 2018, did you work at an actual place of employment with consistent paychecks?  If so, how long were you employed and how much were you making per month?

2) The larger bulk of your money (or at least a larger part of the discussion) has been the money you make in your "business" (selling comics, video games, and other assorted hobby items.)  In 2018, what was your average profit per month from your "business"?  How much time per month is devoted to your "business"?

I get the sense you don't fully understand the bank/credit system.  You state that the interest rate on the card doesn't apply anymore.  Then state you're being charged daily for interest.  The interest rate does in fact matter.  26% is the APR (annual percentage rate) which means on a daily basis, your total balance is being charged 0.07% (26% APR/365 days= 0.07%).  If you multiply that by $2800 (the balance on your credit card last you checked), you arrive at a daily interest fee of $1.99 being tacked on to your account.  Now, you said previously that you tried to ask the bank about it, but they had no record of your account.  This can't be true because if it was, they wouldn't be charging you interest every day.

Now, you also say you have crypto.  When did you buy and what is it's current value?  World markets have been crushed the last quarter and you need to evaluate your holdings to see if the money can be better used elsewhere.  In this case, is it better to hold the crypto or to pay off the debt and avoid anymore fees?  The answer is, if you are confident that crypto will garner returns in excess of 26%, then that's the way to go.  If not, then you're better off paying off your debt.  Here's the thing, markets are unpredictable.  There is no way you can say with 100% certainty that crypto will yield you those returns.  And that's before I even look at the metrics of cryptocurrency.  By all accounts you should be funneling as much money as possible to pay off the debt.  That level of interest is not sustainable for you in your current position.

I've got more to say, but some of it is dependent on answers to my questions above.

My parents, I'm not sure what their exact situation is now but with the fact being that my dad still has the injury I'm sure the situation has gotten worse. I don't like my parents at all it's not a secret. 

1.) In 2018 I worked at two places if I exclude myself and that was about three months of the year and I was making about 1000-1500 per month. Working for myself for 10 months I was making 600-800 per month.

2.) I'm not sure what the numbers are for that because that's not how I calculate things, I just calculate how much I bought the item for, sold it, and then I total everything at the end.

3.) Well since the amount is with collections they're the ones charging me daily interest and they made SURE to tell me it was $1.30 per day and what I would do to get it paid off. I tried getting the credit card info from my the ATM but it just that information is no longer available. 

4.) I don't know everything is from different dates and times so I'm gonna get the answer in tax time. But I am certain my crypto can make me more than 26%, in fact, the reason I came back is that the crypto market is in a huge correction and since comics is something I know I can sell comics to buy more crypto. I don't see a reason to pay off my debt yet because honestly, I see debt as a black hole which will make you do nothing but lose money. I rather put that money towards something that will make me gain money not lose it .

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9 minutes ago, uchiha101 said:

I don't see a reason to pay off my debt yet because honestly, I see debt as a black hole which will make you do nothing but lose money. I rather put that money towards something that will make me gain money not lose it .

I think your IQ and interest rate are the same number. 

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11 minutes ago, uchiha101 said:

4.) I don't know everything is from different dates and times so I'm gonna get the answer in tax time. But I am certain my crypto can make me more than 26%, in fact, the reason I came back is that the crypto market is in a huge correction and since comics is something I know I can sell comics to buy more crypto. I don't see a reason to pay off my debt yet because honestly, I see debt as a black hole which will make you do nothing but lose money. I rather put that money towards something that will make me gain money not lose it .

Correction...death spiral...all semantics I'm sure.  BitCon's price is no longer even covering the cost to "mine" it in most, if not all, countries at the current time.  You'd have been better off buying into the recent correction in the legitimate stock market.

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53 minutes ago, uchiha101 said:

My parents, I'm not sure what their exact situation is now but with the fact being that my dad still has the injury I'm sure the situation has gotten worse. I don't like my parents at all it's not a secret. 

1.) In 2018 I worked at two places if I exclude myself and that was about three months of the year and I was making about 1000-1500 per month. Working for myself for 10 months I was making 600-800 per month.

2.) I'm not sure what the numbers are for that because that's not how I calculate things, I just calculate how much I bought the item for, sold it, and then I total everything at the end.

3.) Well since the amount is with collections they're the ones charging me daily interest and they made SURE to tell me it was $1.30 per day and what I would do to get it paid off. I tried getting the credit card info from my the ATM but it just that information is no longer available. 

4.) I don't know everything is from different dates and times so I'm gonna get the answer in tax time. But I am certain my crypto can make me more than 26%, in fact, the reason I came back is that the crypto market is in a huge correction and since comics is something I know I can sell comics to buy more crypto. I don't see a reason to pay off my debt yet because honestly, I see debt as a black hole which will make you do nothing but lose money. I rather put that money towards something that will make me gain money not lose it .

So here's the thing, when managing your personal finances, there are 2 ways to tackle the problem.

1) reduce spending

2) increase earnings

Let's use the high end and say your "business" has earned $800/month.  A normal person works roughly 160 hours a month (4x 40 hour work weeks).  That means at most you're making $5/hour.  I'm not Canadian, but I've been to Canada and it's no 3rd world country, so I have to imagine that the minimum wage is considerably more than that.  You can build your "business" but the age old adage rings true to a certain extent.  "You gotta spend money to make money."  Unfortunately for you, you're just not in a financial position to spend more.  Which means that in order to grow beyond your current means is going to require you to find a better source of income.  I know you said you've had difficulty holding jobs due to disability, but there HAS to be something out there for you.  You HAVE to go out and get a real job.  It's not gonna be easy, but that's the harsh truth about growing up.  What you consider your "business" is just a hobby to the rest of us (well, except for the actual store owners here who gathered enough initial funding to get their stores off the ground).  But selling on eBay, Craigslist, or FB Marketplace?  That's just pocket change for most people to clear some space while making a few dollars.  Even if you got a job that paid $10/hour, you're looking at taking home almost $20k pre-tax.  By your estimates in 2018, you brought in anywhere from $8500 to $11k.  That's a huge difference and will go far in dramatically improving your quality of life.

Regarding your crypto, your inability to give me a rough idea of how much you currently have locked up is quite telling.  If you have a sizable amount of money locked away, you should really do a better job keeping tabs on it, especially given your financial situation.  You absolutely SHOULD NOT be in a high volatility investment.  I don't know what you started with, but if we look at just Bitcoin and Ethereum (two leading crypto's a year ago) they're down ~70% and 90% respectively.  You think it'll go up 26% and that's fine.  But I just don't think you have the capital to take that gamble.

Here's a link on generally accepted advice on how to get started towards financial independence.  There are 6 steps (the last being saving for discretionary spending...ie comics).  You've jumped straight to Step 6 without any real consideration for Steps 1-5.  Personal finance is about building a foundation and then going from there.  You currently have no foundation.

https://www.reddit.com/r/personalfinance/wiki/commontopics

I know I'm just echoing what others have told you before, but for however long this thread and the old thread have existed, it seems you haven't done anything to change.  I strongly recommend you heed the advice of the other boardies here.

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4 hours ago, uchiha101 said:

I don't see a reason to pay off my debt yet

yes you really should start paying off that debt and get a guaranteed 26% on your money ... DON'T WAIT !!

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On 1/17/2019 at 6:08 AM, uchiha101 said:

No, The last thing I need is to join the military.

I disagree - there's room for everyone.

Private Gabe, meet Private Pyle (he's the one with clean nails)

 

1.jpg.09d5609c648919a60f46987f3153f7ff.jpg

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3 hours ago, ExNihilo said:

 

I know I'm just echoing what others have told you before, but for however long this thread and the old thread have existed, it seems you haven't done anything to change.  I strongly recommend you heed the advice of the other boardies here.

Don’t waste your breath.  This and the old journal just show a constant pattern of failed attempts at “get rich quick” schemes; comic flipping, video game flipping and, worst of all, crypto-currency.  Gabe claims he’s “learning” from his mistakes, but it’s clear to anyone with half a brain that he’s learned nothing.  

Sorry to be the a-hole and break it down to brass tacks.  

He’s going to continue down his path of financial ruin.  He’s yet to follow any advice that we’ve attempted to give him over the years.  I don’t believe that anyone that’s posted in his journals has tried to sabotage his efforts.  He just thinks he knows better, despite his constant failures.  

As demonstrated, time and time again, he lacks the skills and self-awareness to make any sort of meaningful change to improve his situation.  I do think he’s been dealt a hand, which does make his climb that much steeper.  But that doesn’t completely absolve him from his continual screw-ups.  

He thinks he knows better than everyone else, even though everyone that’s posted along his journey knows better and has done better.

Gabe, the time has come (actually it has passed) for you to waive the white flag.  You’re never going to get rich selling comic books.  You’re not going to get rich in crypto.  Your only chance at chance at getting rich quick is to hit the Lottery.  

You aren’t going to pay attention to what I said.  I realize that.

Continue down your path.  Your “road to success” leads directly to failure.  As has been proved since the first post in your original journal.  

You don’t get it.  You never will.  

I hope you hit that lotto and can prove us all wrong by becoming a billionaire and having a harem of online elf wives.  

Good luck.

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2 minutes ago, Beige said:

I disagree - there's room for everyone.

Private Gabe, meet Private Pyle (he's the one with clean nails)

 

1.jpg.09d5609c648919a60f46987f3153f7ff.jpg

Private Gabe makes Private Pyke look like General Patton.

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4 hours ago, uchiha101 said:

Let's clear a few things up. It's not a token amount but the cheapest going rate for a room and yes I've been checking. As for my parents, you have no idea how they treat me so don't begin to speak of them as you do. I know what they have done for me in the past and I'm thankful but they're terrible people.

Cheapest going rate for a room sounds like a token amount.  And clearly it can't be much because you're currently on welfare and you're monthly income is a token amount when compared to the cost of living today.  $600 a month?  $700 a month welfare rate?   Even if you give them every penny that's nothing when you look at the cost of housing, utilities, food, internet and phone, maid service, transportation, taxes and on and on.

And you're right, I don't know your parents and it doesn't really matter.  You've already admitted they did a reasonable job getting you to 18 years of age and they've done what parents are supposed to do.  Every parent will help their kids to different degrees once they reach adulthood but at this point they owe you nothing.  They may not be perfect but JUST BECAUSE THEY DON'T GIVE YOU WHAT YOU WANT DOESN'T MAKE THEM SELFISH OR AWFUL.  

Try doing some navel gazing.  You're an adult male who can't keep a job.  You live with your parents and aren't close to paying your way in life.  You owe money to credit card companies and ignored their calls for some time and you plan to pay them back someday.  Rather than focus on constructive plans you've focused on ridiculous ideas like buying and selling a million $$ comic, bitcoin, etc - and I'm sorry, you're underfunded and ill equipped for any of these plans and you're wasting your time and we've told you that for years.  You're clearly angry and hostile towards your parents and it's clear here and I'm sure it's clear to your parents.  

If you honestly look at yourself you'll see an angry young man who's immature, selfish - yes selfish because you're always doing what you want rather than what will help others or yourself long term, avoids responsibility, constantly makes poor decisions, blames others and can't or won't work.   Face it, your parents don't want you there for very good reasons and you've documented it here for years.  Try standing in their shoes for a minute and imagine how difficult this is for them.  

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I had nothing more to say, but his vicious attitude towards his parents really gets to me, especially considering that he would be homeless, at best, without their generosity. :sick: 

I'm holding back because I do think that Gabe has something going on upstairs, and I no longer take pleasure in dealing out the sort of vocal bashing he deserves.  

I sincerely hope that Gabe gets the help he needs, and I hope he manages to find the way to responsibility, good ethics, and self-sustainability. I'm sad to see his backward steps. 

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...and no Gabe, even if you're paying $600-800 a month for "rent" that is still a bargain. You would be in a position beyond your imagination if they didn't allow their manchild to live in their basement. I hope you never have to find out what they are protecting you from. 

Edited by newshane

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On 1/15/2019 at 3:48 PM, mattn792 said:
On 1/15/2019 at 2:32 PM, uchiha101 said:

I don't understand why you're failing to see profits, is it because of what the poster above you said he assumed or that even though I sold for a profit but overall I'm at a loss you don't count it as a profit? Is that what you're getting at?

Well if you’re overall at a loss, you really haven’t profited.

It's a negative profit.  :gossip:

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On 1/13/2019 at 1:40 PM, uchiha101 said:

Recent Purchases

Poptropica hidden Islands 

Buying in-games items in a video game. :p

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2 hours ago, BlowUpTheMoon said:

Buying in-games items in a video game. :p

Jeez...:facepalm:

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I haven’t seen one news outlet report that the password was recovered.

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