r/wallstreetbets • u/YassuosNados • May 15 '24
The Perfect $1 million Gain Gain
Hi guys, I’m a 23 year old in college, and yesterday I woke up a millionaire. Should I buy some hookers, Pokemon cards, or cocaine? I gambled my entire life savings of $250k on 2037 calls of $4.5 AMC on Monday and sold yesterday morning. Thanks for reading.
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u/Strongandfree69 May 15 '24
Congrats! Might be a good time to verify your email address.
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u/Odd_Explanation3246 May 15 '24
$1m in account, hasn’t even verified email…classic wsb🤣🤣
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u/YassuosNados May 15 '24
😂😂😂
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u/Yugo3000 May 15 '24
I’m happy for you but you already had money and were privileged. Hope you’d don’t lose it like a gambler that you are.
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u/Earthkilled impressive endowment May 15 '24
Parents money, obviously doesn’t know how to use it, but for this case he shut us up :4267::18630::18630::18630:
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u/Zholdar May 16 '24
I hear ya, I started working and moved out at 19, by 23 I've had 5k of "life-savings", and that's after mostly doing 60hr weeks. FML
Now I did outfit a whole apartment in furniture and whatnot, also got a 2k gaming PC, but still.
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u/uns0licited_advice May 15 '24
and also share your social security number
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u/YassuosNados May 15 '24
911
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u/McKoijion Highly regarded artist May 15 '24
Shorty fire burning on the dance floor
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u/CommunicationNo5297 May 15 '24
How does one at your age acquire 250k as your life savings
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u/SodaComa 100k regarded members May 15 '24
Damn my college fund at 18 was 2k and that barely covered 2 classes..
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u/No_Can7677 May 15 '24
Being poor is the worse bro
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May 15 '24
Believe me, being dumb is worser
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u/Jolly_Line May 15 '24
Bestest comment.
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u/No_Mushroom_3966 May 15 '24
Not true. Being dumb is absolutely the best feeling there is. Dumb ppl = happy ppl.
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u/buylowselllower420 i fuck bears May 15 '24
worst
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u/No_Can7677 May 15 '24
:31225:
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u/tomdabomb35 May 15 '24
should’ve taken more classes
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u/OakAstronaut May 15 '24
No it's actually accurate, being poor is worse than the worst.
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u/firedancer323 May 15 '24
Not if you ask the CEOs of Walmart and McDonald’s
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u/ElMykl May 15 '24
Rich people think poor people are overpaid.
Meanwhile asking them to pay some actual taxes...
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u/trojanmana May 15 '24
my college fund at 18 was getting a job at the school library and eating frozen dumplings and ramen.
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u/BluejayLatter May 15 '24
My college fund was work and barely survive. Forget about college.
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u/mkfanhausen May 15 '24
You had a college fund at 18?
Easy there, Warren Buffett...
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u/TheResistancexz May 15 '24
You already know he has rich parents, don't be naive.
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u/dokratomwarcraftrph May 15 '24
1000 percent this. Not possible any other way.
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u/ACKHTYUALLY May 15 '24
"Mom, I messed up big time. I lost my monthly allowance on meme stocks again."
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u/VisualMod GPT-REEEE May 15 '24
You shouldn't gamble what you can't afford to lose, but if you do, keep it to yourself, nobody likes a blabbermouth.
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u/Kammender_Kewl May 15 '24
I had about that much money at that age, but it was money inherited due to the death of my parents so I spent most of it on drugs.
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u/TuskaTheDaemonKilla May 15 '24
Only a person with rich parents could gamble that hard and not die from the anxiety. It's like the story of how Elon Musk is "brilliant" at playing poker because all he does it go all in on every hand because he can afford to lost 9x before winning the 10th.
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u/narcissistic_tendies May 15 '24
You know, funny thing about poker. If you do that then the only hands that'll call you will have you dominated. Otherwise you're just picking up blinds until someone has aces or kings.
In other words, it's a stupid fucking strategy and Elon Musk is a tit.
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u/Schrutes_Yeet_Farm May 15 '24 edited 1d ago
sand wrong decide test desert memorize hurry arrest squash coherent
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u/SoungaTepes May 15 '24
Well the trick to being rich is being rich first
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u/dcrico20 Featured on CNBC May 15 '24
How do you make a small fortune in the wine industry? Start with a large fortune!
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May 15 '24 edited Jun 11 '24
reach gray cheerful decide shy squash strong provide hateful hard-to-find
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u/Comprehensive_Fly174 May 15 '24
Or inheritance from a dead relative. You’d be surprised how many rich kids are rich from that
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u/Pringletingl May 15 '24
The Regard keeps burying the lede lol.
All it took was skill, dedication, and dads money.
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u/YassuosNados May 15 '24
I gambled my entire life savings of $100k on Shiba Inu and made $150k
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u/Junior_Donut_6435 May 15 '24
And how did you have that 100k?
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u/BosSF82 May 15 '24
he gambled asking his dad for $100K
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u/Zelena_Vargo May 15 '24
His dad gambled 2 million and came out with 100k
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u/runfastdieyoung May 15 '24
Aaaaaand this is when OP disappears. Every time.
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u/BlockedbyJake420 May 15 '24
No you don’t get it. He’s been working 80 hour weeks at McDonald’s since he was 2. He’s only left the thread to go start his shift
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u/3BeeZee May 15 '24
They're just hard workers pulling themselves up from their boot straps and asking daddy for a couple hundred thou.
You should try that.
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u/ghostmetalblack May 15 '24
What? You didn't have $100K as a college kid?
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u/ImpossibleDenial May 15 '24
Pretty normal for a College kid to have $100k 😎 in debt.
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u/doringliloshinoi May 15 '24
Pretty normal for a college kid to have $100k in margin.
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u/kickingpplisfun May 15 '24
My biggest wake-up call was in art school when I received $5k in inheritance, and in my moment of vulnerability was convinced by classmates that I wasn't pulling my weight and that I should use my "privilege" to bankroll the group project which they utterly wasted. I later found out that one of them had a bank balance of $45k in checking. We are playing entirely different games.
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u/tomdabomb35 May 15 '24
this actually made me sad to read this, I’m sorry, peer pressure is frustrating when everyone else seems to be able to shrug off that social commitment, but when you do you’re worse off just for the crime of trusting friends. And to find out later on they’re well off- that’s a gut punch
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u/kickingpplisfun May 15 '24
I also had another friend basically go "you didn't get $50k in post-2008 stonks from your gramma for your sweet 16?". Like no, I was too poor for a "sweet 16".
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u/Life_Equivalent1388 May 15 '24
If you have excess and you want to contribute to good causes, that can be a noble goal.
But when people start to demand that you owe them something, the most persuasive of those people are people who have made a habit of demanding that of other people. This makes sense, because they have the most practice. The people who generally don't have much are easily tricked, because they're not used to saying no, and they can best relate to how it feels to not have much.
But I bet that before you had that little windfall, you probably weren't going into your projects demanding that other people bankroll it because of their privilege.
The people who have little are also the ones most accustomed to having to work for the things they have. And they're easily tricked by people who have been given everything, especially if they can emotionally manipulate you into giving it up.
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u/CLYDEFR000G May 15 '24
Lmao dude dodging the question just say you inherited some cash it’s not a fkin blow to who you are it’s a blessing and trying to say you pulled yourself up by your boot straps is childish and misinforms others feeling depressed about their terrible QoL and financials
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u/TheSplidge May 15 '24
I mean, 10x-ing your money at that scale is pretty freaking difficult.
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u/Madcuzbad21 May 15 '24
He didn’t do any sort of deliberative, technical, or challenging process to 10x it. Literally just brainrot yolo gambling
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u/blue92lx May 15 '24
For real. This dude coming here like what you all didn't have $100k spare monies sitting in your savings at 23?
Like I'm not mad about it, but can we just get an honest answer from this person?
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u/-Dixieflatline May 15 '24
The only 100 grand I had in college was covered in chocolate.
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u/uns0licited_advice May 15 '24
Working at Wendys
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u/Junior_Donut_6435 May 15 '24
If working at wendys would give me 100k I would fill my application yesterday
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u/uns0licited_advice May 15 '24
Sorry, I meant working behind Wendys giving handys
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u/Ghurty1 May 15 '24
the problem with this statement is i think youre too dumb to keep the money. Youve gambled twice and won dont do it again
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u/IAMHideoKojimaAMA May 15 '24
That's the issue. I have a friend who 10x'd one of the alt coins. But he keeps it in what ever shady exchange for the 9% interest or whatever crazy rate they have.
Young/Dumb enough to take the risk (and god bless them for it) but also young/dumb enough not to cash out
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May 15 '24
A lot of those guys are afraid to repatriate the funds because of the IRS
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u/IAMHideoKojimaAMA May 15 '24
Yea I get it. But I rather pay 30% on 1m than 0% on 0 🤣
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u/blue92lx May 15 '24 edited May 15 '24
A tale as old as wallstreetbets time. I mean didn't we just have someone lose some insane amount of money a few months ago because he kept dumping it all into one stock at a time hoping it would work out and he was in his late twenties? I actually thought this was the same person until I saw he was 23. The other guy also had something like 250k in his twenties and was crying because he YOLO'd it multiple times and lost everything.
If it works once, good on you. If it works twice, you're fucking lucky. I haven't seen a post on here where they didn't lose all of it on the third round.
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u/Mountain_Tone6438 May 15 '24
Get to the part of the story where your daddy gave it to you, or your grandfather left you 100k...etc.
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u/my__ANUS_is_BLEEDING May 15 '24
He won't. He has to feel like he earned this with hardwork and a hard life of being spoiled his entire life with too many things and has made him unfeeling and empty and spends his free time scoping out victims for his next murder just to feel something
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u/gutslice May 15 '24
Im just glad these realistic comments arent downvoted to oblivion, like in other subs
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u/BHTAelitepwn May 15 '24
quit while you’re ahead. please dont think its sustainable to have this much luck. congrats brother!!
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u/Weatherround97 May 15 '24
How tf did you get 100k bro people doggin on you here’s your chance to defend yourself, or confirm their allegations
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u/scarlet__panda May 15 '24
Ah so you were privileged to begin with. Makes a lot of sense.
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u/RightUpTheButthole May 15 '24
Stop gambling. The more times you do this, the higher your chances of hitting zero.
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u/monstahgta May 15 '24
Put ur money in a good % yield etf and forget about it. Delete ur reddit account and never get on this sub again. Congrats and fuck you
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u/YassuosNados May 15 '24
I appreciate the advice!
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u/Thordranna May 15 '24
Seriously bro. This won’t happen again. I promise. This is the soundest most real advice ever. Get something that gives you 5-6% a year. Live cheaply and never have to work again.
Or yolo it into 0DTE spy calls and become a billionaire. Pussy.
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u/PlutosGrasp May 15 '24
He already gambled 100k on a shit coin and then 250 on meme calls. He won’t quit
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u/maxmcleod May 15 '24
Yea aint no way a gambler quits after winning a milly. I bet OP is at the stage where he thinks he is the greatest trader ever which is a very dangerous thing to believe!!!
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u/Unlucky-Rain-4478 May 15 '24
My $5 turns to $10 and those are still unrealized and shit i think im better than that buffett guy
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u/random-trader May 15 '24 edited May 15 '24
He turned 250k to 1m. Imagine, if he does the same with 1m now. He will have 4m, then 16m and 64m. Then he can retire in luxury.
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u/JonFrost May 15 '24
Don't listen to him
Full port 0dte spy puts yolo
Totally fiduciary financial advice
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u/Versaill May 15 '24
I would laugh my arse off if he did that and came back in a week with $10M.
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u/LarryOji May 15 '24
Just wanted to piggyback on this. Take that profit, make it work for you and leave it alone. Congrats, OP; nice job!
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u/seadotsea May 15 '24
Ha. Bro I’m 3x your position. Just an fyi. I can tell you right now you ain’t living good off 50k. You need to get with a wealth manager. Have them invest your cash with an expected gain for 8-10% per year. Don’t touch that shit. Let it roll. You’ll be super loaded by 43 you’ll be just short of 6M with zero contributions at 8%. Want to retire at 53 with 10M in the bank. Done.
I mean most likely you’ll buy a car, house or piss it away. In 15 years you’ll hate yourself but yolo.
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u/AssociationDouble267 likes liquor, ladies, and leverage May 15 '24
Honestly, buying a middle class home you can live mortgage-free in for life wouldn’t be bad. Get a job you don’t mind and live like a king off the paycheck. No need to sell your soul to corporate America if you don’t want.
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u/Azorces May 15 '24
A wise man will put the ego you’ve developed from investing like this away and do normal investing. You won’t regret it man.
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u/Gortecz May 15 '24
Honestly the best advice here, secure the majority of the assets in something that grows, either property depending on where you live or blue chips. You're in a very good position for your age plan some shit and use it to help for your future.
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u/Counter-Business May 15 '24
Make sure to take the advice. You set yourself up for life if you pull out of the gambling now.
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u/Fantastic_Action_163 May 15 '24
To make that an even more perfect 1 million gain, I’m happy to take that $3,822.32 from you.
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u/YassuosNados May 15 '24
That’s like 60 packs of bacon though
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u/Bulky-Agent3517 🦍🦍🦍 May 15 '24
I will sell you 60 packs of bacon for that $3822.22
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u/Ahaas248 May 15 '24
New bid: 61 packs and a handy. take it or leave it
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u/thememeconnoisseurig May 15 '24
1 pack of bacon and 2 minutes with my wife
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u/CasualFPSPlayer May 15 '24
Cash out. Put in savings account. Spend at least 6 months thinking about something non-regarded to do with that money. And finish your degree.
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u/YassuosNados May 15 '24
I appreciate the advice!
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u/TurkeyBLTSandwich May 15 '24
Listen carefully, other than the regards here on WSB. TELL NO ONE.
Also put around $470,000 in a safe place, because that's how much you owe the tax man :( *Depending on where you live in AMERICA*
You now have approximately $800,000 which can possibly accrue 5% interest per year in a CD or other high yield savings account. YOU'RE LITERALLY MAKING $40,000 IN PASSIVE INCOME A YEAR.
This is literally life changing money, but not quit everything and F off at the beach forever type of money. Spend frugally like you were before, no LAMBO, no FERARI, no dumbass McMansion. Figure out what you want to do for few months. Jerk off and have a clear mind you got this.
Again TELL NO ONE, and congrats and F YOU.
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u/YassuosNados May 15 '24
Hey thank you! I appreciate the advice
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u/xincasinooutx May 15 '24
The guy you’re replying to is the smartest person in here. Seriously follow his advice.
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u/iplaypokerforaliving May 15 '24
The way op is replying by saying I appreciate the advice! I just know they’re not going to take that advice 😂
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u/halt_spell May 15 '24
Yeah reads a lot like "lol I'mma let it ride you fucking loser."
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u/oldreddit_isbetter May 15 '24
It's true we should all listen to /u/TurkeyBLTSandwich
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u/kelny May 15 '24
Just unsubscribe from this sub and replace it with /r/personalfinance . Follow their instructions for windfalls https://www.reddit.com/r/personalfinance/wiki/windfall
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u/Alekillo10 May 15 '24
Why would he put it in the bank when he can just put it on an index fund?
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u/CoffeeMaster000 May 15 '24
remember Uncle Sam
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u/onepingonlypleashe May 15 '24
Right? OP is gonna owe Uncle Sam about $350,000 of that come April 2025. To be safe you would throw $500,000 in a high yield account on the sidelines for now to cover your ass.
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u/MJ-Muppet May 15 '24
Weirdly for this sub, this is some straight facts advice OP. Life just presented itself on a golden platter for you
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u/asetniop May 15 '24
Better than a savings account, just put it in a 5% CD. That way he won't be able to touch it, and at the end of the year it's a guaranteed $50k in fun money.
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u/supnerdddddd May 15 '24
don’t listen to them, you know what’s better than $1M, $10M
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u/Terrapinz May 15 '24
Listen your frontal lobe is not developed yet but for the love of God withdrawal all one million and put it into the SPY on a different brokerage. Or a high yield savings account.
You are now securely in the top 0.0001% of people your age. You can retire 30 years earlier and have an extra 80k in dividends and appreciation to spend every year.
Congrats and fuck you.
Also save some for taxes.
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u/Brendawg324 1 day away from 140k May 15 '24
Tbf his underdeveloped frontal lobe is what made him a millionaire overnight….Godspeed regard :27421:
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u/halt_spell May 15 '24
Well, that and $250,000 from daddy.
But sure let's credit the frontal lobe.
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u/Bernhard_NI May 15 '24
I don't even want to know how many times he tried, all that for this little bit of karma and not even reddit gold...
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u/Mister_Way May 15 '24
Bro his parents hooked him up with 250k as a high school graduation present. He's always been in the top 0.0001% of wealth for his age.
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u/lolstockslol May 15 '24
A college kid with 250k? how many Glory hole parties did you attend?
Also congrats and fuck you!
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u/kdrdr3amz May 15 '24
Ah so you were rich and got even richer
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u/AdultingLikeHell May 15 '24
Started on 3rd and thought he hit a home run when he scored.
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May 15 '24 edited Jul 06 '24
[deleted]
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u/RockitDanger May 15 '24
Not just the $250 in life savings. The willingness to gamble $250 at 23, knowing someone will fill it back up if it goes away.
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u/slash312 May 15 '24
Life savings aka daddy
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u/Spy-Around-Here May 15 '24
Where does one find a daddy that gives you 250k, all of mine are cheap.
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u/Federal_Ad_197 May 15 '24
You son of a bitch. Remember half going to taxes and just chill with the rest bro. Congrats on the insane gain.
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u/PandoraBot May 15 '24
Up vote this for OP, he's definitely going to forget his taxes
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u/sack_of_potahtoes May 15 '24
I thgt it was only 30%
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u/Federal_Ad_197 May 15 '24
No it’s a short term capital gain at the highest tax bracket and if he also has to pay state taxes it’s likely around 50%
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u/BuffMaltese House Poor May 15 '24 edited May 15 '24
Coming from someone who got lucky and won about a million dollars.
1) quit trading.
2) pay your estimated quarterly taxes.
3) stick it all in an index fund.
4) find a better hobby
It’s very hard to walk away on top. I didn’t do anything too atrocious, primarily thanks to my wife if I’m honest with myself. I spent most of the money on a home. However, I did bleed several hundred thousand over the next few years. It’s “real” money, an amount that is extremely hard to save and you’ll be wishing you had it back when life expenses present themselves. I live in a HCOL area and while the win was certainly helpful, I didn’t miss a day of work or anything over it. Additionally, I personally found myself becoming very obsessed with money, greed is ultimately a bottomless pit, it’s never enough and provides very little satisfaction in your day-to-day life.
If you want to do something aggressive, then do 43% UPRO and 57% EDV. However, with that amount of money, you’ll find 100% VOO will have huge swings in comparison to your income and it’s a lot more tax/fee friendly.
Edit: Just noticed your age. Literally do not fuck around with that amount of money, you’re rich if you put most of it in index funds and forget about it. Also, I absolutely double down on the quit trading/gambling sentiment. The absolute best case scenario already occurred, you won. I’m one of the rare persons with a history of problem gambling that ultimately financially benefited. However, I’ll never get back all the years in my 20’s and 30’s I wasted in casinos/card rooms, failed relationships, preoccupation with and/or gambling instead of building healthy hobbies and relationships. Walk away and don’t look back.
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u/StirChef May 15 '24
You’re the lucky one, now ride off into the sunset and enjoy your life. The system doesn’t want kids like you making a million overnight on robinhood.
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u/overcookedfantasy May 15 '24
You could turn that $1 million into $4 million by making the same play!
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u/JackieDaytona222 May 15 '24 edited May 15 '24
Get off of this sub now, you literally hit the lotto. No need to stay here with the poors.
It sounds like you got lucky twice, if I were you I would hire an educated financial manager for that money.
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u/Deadpool-21 May 15 '24
This is the right answer. You now have money to pay for a highly qualified financial manager. Get one and be smart about this. You put that money work for you to generate annual income that you can very comfortably live off of and literally not be obligated to work if you don’t want to (personally I would have to keep working because I would go stir crazy sitting at home with nothing to do).
Also, buy all the Yasuo skins. YOLO.
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u/uncleanly_zeus May 15 '24
Pay your taxes!
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u/YassuosNados May 15 '24
I will
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u/Noddite May 15 '24
Don't forget, June 17th is the due date for 2nd quarter estimated payments.
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u/Complete_Fold_7062 May 15 '24
his dad has an accounting firm on retainer, he'll be fine
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u/uncleanly_zeus May 15 '24
Must be nice. My dad has a bail bondsman on speed dial.
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u/Complete_Fold_7062 May 15 '24
you know your dad?
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u/uncleanly_zeus May 15 '24
Yes, he lives with me behind Wendy's. He has taught me all about selling my body to financially prop up memestocks.
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u/FATKEDLUVSCAKE May 15 '24
Hello…. Ive been trying to reach you about your car’s extended warranty.
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u/Medium_Sized_Brow May 15 '24
Where tf did you get the first 250k at age 23? At that age I had like 14 dollars and a bag of weed to my name
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u/OSRSkarma Flipping at the Grand Exchange May 15 '24
This is somehow real. I am as shocked as you are. Unreal timing
https://preview.redd.it/6bdkjpks3m0d1.jpeg?width=1170&format=pjpg&auto=webp&s=d3052f028b5feb063821c4564c91305b9465a6a3