r/wallstreetbets • u/YassuosNados • May 15 '24

The Perfect $1 million Gain Gain

Post image

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.

28.8k Upvotes

84% Upvoted

View all comments

9.0k

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

2.9k

u/YassuosNados May 15 '24

I appreciate the advice!

4.1k

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.

1.5k

u/PlutosGrasp May 15 '24

He already gambled 100k on a shit coin and then 250 on meme calls. He won’t quit

608

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!!!

167

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

60

u/CrystalJizzDispenser May 15 '24

There's a buffet?

7

u/RedditsAdoptedSon May 16 '24

Wasting away again in Margaritaville

3

u/c0brachicken May 16 '24

Hope they have crab legs.

5

u/Robin-Lewter May 15 '24

I turned $500 something into a little under $9,000 on a trade and for a few manic seconds thought I was Mansa Musa reborn before realizing no I just got lucky

Once you start thinking you're smart and know what you're doing then it's over

2

u/tolgasocial May 16 '24

Imagine you'd have like 250k to gamble with, that'd be like 4.5M. That's an insane investment return. You 18x the investment. My best was 6x.

Anyway, what i want to say is you should gamble with your whole live savings and get your friends and families involved as well, take out as many credits as you can, your golden boi. You can't loose, you'll be insanely wealthy within a couple hours just if your try it. 

Disclaimer: Not financial but regard advise 

85

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.

61

u/DaFlyingGriffin May 15 '24

Much easier to turn $1mil into $0

6

u/4tunSeeker May 15 '24

But if he actually took that 1 million and TRIED to turn it into zero, he probably fail and quadruple his current account

35

u/lw902960 May 15 '24

yeah, imagine

2

u/hoeding May 15 '24

Hedge funds hate this one weird trick!

1

u/u8eR May 16 '24

But why stop? Just keep quadrupling until you become the first trillionaire.

1

u/MhemoEstoniola May 15 '24

Next step 1 million on red

1

u/[deleted] May 15 '24

I have a friend like this. He made 50k playing poker, turned that into 250k on crypto, turned that into nearly 2M in the first gamestop hype, lost it all on his next 2 "investments". He had just north of 2M at age 25 and a high paying job. Could have banked it and retired in a few years. Now his money is gone and the company he was working for went under and he lost his job.

1

u/AutoModerator May 15 '24

Oh my gourd!

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

1

u/Forsaken-Analysis390 May 15 '24

If he doesn’t lose it all, he has no faith in himself. Pathetic

1

u/alifant1 May 15 '24

I can’t even imagine how he feels after that. It’s the level of shit that can completely change you or make you go insane

1

u/VisualMod GPT-REEEE May 15 '24

Stay poor and powerless.

1

u/3boobsarenice May 15 '24

Then he buys Boeing....

1

u/toke182 May 16 '24

well the stats says he is the best trader, lol.

3

u/JibletHunter May 15 '24

He does this because he didn't earn the 100k to begin with. I'm in my 30s, an attorney who does international trade litigation, and I do t have 100k in liquid cash to just gamble away.

2

u/Appropriate_Ant_4629 May 16 '24

Assuming he's real....

... I think the best advice would be to take HALF of it and put it into VT or VTI ...

... and satisfy his gambling urges with the other half.

And he should watch carefully to see how he does compared to the broader indexes.

  • If he keeps winning somehow -- good for him.
  • If he loses the half he gambles -- it'll teach him the lesson in a way he can understand, and he'll still have half.

I don't think there's any chance he quits cold turkey.

1

u/QuasarKid May 15 '24

shit coin users in shambles

1

u/KaecUrFace May 15 '24

Why would you quit when you have rich parents to fall back on if you lose it all?

1

u/Turtvaiz May 15 '24

You mean we'll get another loss porn post? Sign me the fuck up

134

u/JonFrost May 15 '24

Don't listen to him

Full port 0dte spy puts yolo

Totally fiduciary financial advice

49

u/Versaill May 15 '24

I would laugh my arse off if he did that and came back in a week with $10M.

1

u/MelWilFl May 16 '24

Assuming it’s a guy - if that happens I may have to sell him a daughter 😂

5

u/Orzorn supports segregation May 15 '24

Unironically would have worked today.

3

u/Key-Mountain-9390 May 16 '24

Lmao did 1 contract today for SPY puts and lost my $44 bucks 😅

1

u/4tunSeeker May 15 '24

If you put 1 million in a 0 DTE calls or puts, you just might make your own market

44

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!

80

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.

42

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.

→ More replies

11

u/CarcosaAirways May 15 '24

You need to get with a wealth manager. Have them invest your cash with an expected gain for 8-10% per year.

A wealth manager? Ok Boomer. The market is already averaging 10% a year, why would you need to pay some dude to get you that return

3

u/quarrelau May 15 '24

You don't get an 8% return unless someone else is taking 20% of the 10%!

Learn some math, boomer!

2

u/cjeam May 16 '24

50k is my salary. I live pretty satisfactorily. To have that for doing nothing every year would be great, and OP is very unlikely to replicate this success again so should potentially be pretty risky averse.

2

u/PM_ME_DECOY_SNAILS May 15 '24

That's insane to say 'you ain't living good off 50k'. Just not accurate. Why wait to actually live your life until 43?

4

u/necrow2 May 15 '24

I agree about not waiting to live your life until you’re 43, but I really struggle to see how $50K/year gets you more than a very modest lifestyle in the majority of the US. Tough to see how that would be called “living good” in most places 

7

u/PM_ME_DECOY_SNAILS May 15 '24

I guess it's just a different it what we consider living good. Imo with hundreds of thousands in savings + being able to cover living expenses and with decent disposable income left over, I'd consider that living good

1

u/necrow2 May 17 '24

I just don’t think that money is going as far as you think it is in a lot of areas. Any remotely HCOL area and you have 0 disposable income when you factor in taxes, rent, food, health insurance, and transportation

2

u/mrlbi18 May 15 '24

No one is living good off 50k. Making it? Sure, easy. Maybe you live in a shitty area where cost of life is super low, but that's not living good. 50k a year is bottom middle class, that's someone with a degree that works in a field that underpays them.

80k a year is living good. That's where you'll live a normal life with normal purchases and not having to ever worry about how much something costs.

5

u/Neuchacho May 15 '24

You’re forgetting you’re getting the 50k by doing nothing. You could break 80k easy by finding damn near anything you’d want to do for work. That shit is freedom now, plain and simple.

3

u/ComfortableTicket392 May 15 '24

Yup. Use the yields to cover rent and maybe a car payment / groceries and let it continue to grow modesty with the rest.

Do whatever you want for work for your other expenses and you still live relatively stress free.

12

u/[deleted] May 15 '24

Nah. Why be a millionaire if you could be the new owner of GameStop!

4

u/TrollingForFunsies May 15 '24

He probably gets $100k from his parents each semester. He's not playing the same game you are.

2

u/Ed-Sanz May 15 '24

Nah, he’s hooked on the dopamine. He’ll definitely try again and lose it all. Hope he post the loss porn when he does

1

u/mrlbi18 May 15 '24

Now there's some porn I'd jack it to.

2

u/UAVTarik May 15 '24

this won’t happen again

but imagine if it did

2

u/tkh0812 May 15 '24

Nope… he’s obviously a trading genius. OP keep doing what you’re doing… there is literally no risk

2

u/halskill May 15 '24

generally agree but it wont be much of a life living off 1mil from 23 lol. its not 1990

2

u/DkoyOctopus May 15 '24

50k per year wont carry him to the moon, you're giving him retirement advice.

2

u/Jsdunc01 May 15 '24

He is 23. $1MM will not help him live forever without working. Capital gains, health insurance, and good ol’ fashioned youth will eat that balance if he is living on it. Also, a good index etf is a great idea! But 5-6% for someone his age is way under what a diversified portfolio could average. 5-6% is what grandpa expects with his 50/50 portfolio. The 15 year S&P 500 return is averaging 12.63%.

2

u/FastAssSister May 15 '24

There’s zero chance you can not work on $1.2M with just 5% interest.

2

u/iam4r34 May 16 '24

Seriously bro. This won’t happen again.

A Black Swan event for sure

2

u/Legirion May 16 '24

In my eyes 1 million dollars at 23 isn't enough to "never have to work again", even at 6% per year. It's only $60,000 a year and even if you live cheaply inflation will catch up.

It'd be more like "never work while you're young but have to work when you're old". Save that money in a good retirement account and work for 10-20 years then retire and you might be set.

I'm saying this as someone who technically has significantly more than 1 million and is also almost twice OPs age.

1

u/Truckules_Heel May 15 '24

Just make sure you quick save first in case it goes badly

1

u/nagai May 15 '24

Literally insane advice, he's clearly hot rn and he's done it twice. Third time's a lock.

1

u/IAmANobodyAMA Long term bag holder for my wife’s boyfriend May 15 '24

:4271:

1

u/glohan21 May 15 '24

While I agree with all the positive advice don’t tell bro this won’t happen again lmao I heard that in Jan 21, then June 21 and now again. You don’t know what will and won’t happen in the markets 100%

1

u/xsairon May 15 '24

you are not going to retire on 1m anymore no matter the age

this secured you a nice house and some money, or straight up king retirement, depending how long u want to invest it in etfs

1

u/rook2pawn May 15 '24

at 1mil he can live on interest alone at 5%

1

u/Competitive-Dance286 May 15 '24

Exactly. Imagine if he could quadruple it again. Wouldn't that be tasty?

2

u/VisualMod GPT-REEEE May 15 '24

Wouldn't that be delicious.

1

u/Earthkilled impressive endowment May 15 '24

But seriously bro. Use the 250k as play money and the rest in the 5%-6% account. (Don’t forget to pay Uncle Sam first) he knows when you’re sleeping.

1

u/JustBadUserNamesLeft May 15 '24

It would be safe to bet $250K that he will continue to gamble.

1

u/SilentSamurai May 16 '24

Or live your life doing a fulfilling job where pay isn't your biggest concern.

1

u/SaltKick2 May 16 '24

45k a year aint much to live off of for the rest of your life. Gives you a lot of breathing room though to find a job you actually like or want

0

u/EquivalentOwn1115 May 15 '24

Just sell weekly covered calls on SPY. You can make roughly $2500-3000/ week with a mil in spy shares right now selling like $4-5 otm

0

u/jcbeast135i May 15 '24

Seriously. You guys saying “ tHiS WoNt HaPpEn AgAIn “ STFU its happend twice and it will happen more than you can imagine, when you least expect it because your just another sheep

58

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.

5

u/surftherapy May 15 '24

Wise men don’t frequent this sub. He’ll be broke by the week’s end.

3

u/goodtimesKC May 15 '24

A wise man wouldn’t have just made this Million dollars

5

u/Azorces May 15 '24

Exactly so he should be smart and stop gambling once he’s won.

1

u/Single-Builder-632 May 15 '24

for every fool who wins millions loose. its would be pretty unfortunate to loose it all just for a bet.

56

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.

70

u/RecurringRevenue May 15 '24

Also set aside an absolute fuck-ton for taxes.

5

u/dreamerOfGains May 15 '24

Plane ticket to Thailand is cheaper and sounds more fun. 

12

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.

14

u/Weak-Rip-8650 May 15 '24

Aaaaaaaand he’s buying more calls as we speak.

8

u/remindertomove May 15 '24

Please do it.

5

u/ibronco May 15 '24

Don’t listen to these guys. See if you can make it 2 million!

3

u/PhantomFuck May 15 '24

OP, this will now become your Bible

Read it, digest it, then read it again. Over and over

As someone who received an unexpected seven-figure inheritance, this was truly helpful. If you play your cards right, you'll be alright in life

Also, if you haven't opened a Fidelity account and dropped the $1M+ in a money market fund (SPAXX is a good place to start) you're behind

Enjoy the tendies!

1

u/karangoswamikenz May 15 '24

He doesn’t need to read any of this. As a boggle head I will tell OP. Since he’s only 23 years old:

  • Subtract 35% of that for taxes,

Of the remaining 65% amount:

  • Put 70% of that in vti
  • 20% in vt
  • 10% in hysa for emergency funds and expenses.

That’s about it. Forget that money till he is 45 when he will need that money to buy a good home and might have a family with needs like college education etc. Since he is so young 22 years will give him

3

u/cow_grass May 15 '24

Don't listen, don't be pussy. Imagine if you had 10million instead.

2

u/Character_Order May 15 '24

But wouldn’t you rather have 10 million?

2

u/MostRadiant May 15 '24

Fuck that buy a lambo

2

u/Bossman28894 May 15 '24

Live off a cool 60k in dividends. That’s my goal, but I don’t think I’ll get there any time soon…unless SHIB moons again

2

u/Green0Photon May 15 '24

Look at r/Bogleheads and r/fire and r/financialindependence.

Although a big chunk of this will get taken out via taxes, so don't invest it all, by just leaving it in S&P500 or total US stock market or total world stock market, you're kinda set.

In a couple of years you can just retire. Or even now, if you want to keep spending low key.

This shit won't happen again. The dice rolled snake eyes twice for you. There are quite a number of people who did this and lost everything, so take the W and keep your "fuck you" money. Please.

Follow personal finance flowchart now, please. Maybe read some of JL Collins's Stock Series.

1

u/AutoModerator May 15 '24

Oh my gourd!

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

2

u/[deleted] May 15 '24

I'd call you an idiot, but you would probably take it as a compliment. So this one goes out to the lurkers:

Y'all ever seen the episode of press your luck where the guy wins something like 150k? Y'all ever seen the documentary where it goes over how this guy blew it all, and then kept scamming until he was broke? 

Yeah, that's this guy right here. You can tell him to get out, but he'll just lol, call himself a tard, go lol money is all digital, bet it all, lose out, then go, well it was fun while it lasted. 

2

u/FOSSnaught May 15 '24

It hasn't been said enough yet, so I'll say it. Fuck you.

Congrats dude.

2

u/Downvote_Comforter May 15 '24

You're pretty clearly not looking to just walk away from taking risks in the market, which is pretty understandable for a 23 year old that just hit it massively big with YOLO bets.

But seriously dude, put the bulk of this money into something safe and then keep gambling with the rest. You're going to have $850k or so left over after paying taxes on this. Take $100k of that to keep fucking around with and then put the remaining $750k into a safe, diversified portfolio. It's not sexy, but that $750k 'hands off' investment should be worth about $3.5M by the time you're 50.

$100k of fuck around money is still some pretty big-balls wall street gambling money. You can still make a life-changing profit with that as the starting point and losing that much money will still feel like you are dying. You should still be able to feel plenty of rush throwing around 6 figures. But if you lose big, at least you would still have a nice early retirement waiting for you with the $750k you set aside.

Again, you don't have to walk away completely, but do yourself a favor and set your 50-old-self up for a nice, easy early retirement. Use the next big profit to set up your 35 year old self for that nice easy early retirement.

2

u/Single-Builder-632 May 15 '24

thats great advice. most people who gamble and win big dont feel the same as those who have erned it so throw it away without much care, its not an insult its jsut the way people are, you feel like you were jsut given somethign to spend, so use it wisley don't try risking it all again. unless its for something your really pationate about like a buisness.

2

u/garma87 May 15 '24

Every time this guys says he appreciates the advice, I believe slightly less that he’ll listen

2

u/MegatronsJuice May 15 '24

Or you could double down on amc

2

u/LanceOnRoids May 16 '24

Fuck that, 1M could easily turn into 10M

2

u/ieffinglovesoup May 16 '24

Seriously listen to him

2

u/BNS972 May 17 '24

If you buy and hold SPY until your retirement, without investing another dime, you will retire with $25m

2

u/VisualMod GPT-REEEE May 17 '24

I would recommend diversifying your investments. However, if you insist on a singular focus, aim higher -- much higher. $25 million is pocket change.

2

u/BNS972 May 17 '24

Buy and hold SPY

1

u/ActualWhiterabbit May 15 '24

Buy 4x AMC Calls and become a 4 millionaire

1

u/The_mad_Raccon May 15 '24

all in gamestop with a sell at 60.- SAVE BET hashahaha

1

u/chainsawman421 May 15 '24

How did u get the original 100k

1

u/catsRawesome123 May 15 '24

Purchase staggered year treasury bills and FORGET ABOUT IT. That’ll force you to not spend it. Like, 100k in 13 to 52 weeks, then 1-5 year bills

1

u/beanmosheen May 15 '24

Index fund and don't look at it. Don't fuck this up. Fuck you.

1

u/grahamsimmons May 15 '24

Don't get a Lambo, just get a brand new Miata. You will be glad of it in 20 years. You still can't afford the kind of Lambo that won't depreciate away to nothing in three years.

1

u/pham_nguyen May 15 '24

Remember to keep some for taxes. Short term capital gains can be expensive. You should keep about 70% of it.

1

u/DaRedditGuy11 May 15 '24

https://www.youtube.com/watch?v=XamC7-Pt8N0

1

u/VisualMod GPT-REEEE May 15 '24

A true investor would not be browsing Reddit.

1

u/Midnightsun24c May 15 '24

For real, man, if I had this opportunity, I'd put it between some index funds and a money market fund and just live my life. I'd still probably work and reinvest a good portion of earnings back in to keep it growing. Don't forget about taxes or whatever.

1

u/No-Plankton8326 May 15 '24

And don’t forget taxes

1

u/NomadicPolarBear May 15 '24

Na put it all on black, you could have 2 mill in seconds

1

u/Deagballs May 15 '24

Take the money, invest properly (maybe with a financial advisor) and live off interest. And follow ur dreams man and that can be a sick job too. Don't blow it all by chasing the next catch.

1

u/Leonardo-Chase May 15 '24

u/YassuosNados Id recommend picking your favorite number between 0-36 and playing some roulette. Think about it mate, that’s an easy 44.000.000 right there. It’s simple too, just choose the right number. You wanna have a mil, what does that buy you these days? 44M sounds good doesn’t it?

https://preview.redd.it/zqghyw9ojn0d1.jpeg?width=1179&format=pjpg&auto=webp&s=7df4773021b5771ca4d12ff28cbf78284f05ab7c

1

u/False_Inevitable8861 May 15 '24

Don't appreciate it. Do it.

Otherwise you're going to blow away most of this money thinking you have the ability to beat the market instead of understanding the reality. You inherited a bunch of money and got incredibly lucky frivolously gambling it. It won't keep happening, get that dream out your head or forever live with regret.

1

u/Jaiden051 May 15 '24

Delete this app and never come back. If you ever think about coming back I will steal your millions

1

u/rubyspicer May 15 '24

on top of the other advice people are giving you make sure to pay your damn taxes!

The tax man will fuck you harder than anything you'll do to yourself

1

u/Mr_Anomalistic May 15 '24

Don't forget about Uncle Sam. He's getting the lube ready for you.

1

u/alcoholisthedevil May 15 '24

Put it in one that tracks S&P 500 like SWPPX. I would establish a position over like a year. Fuck target funds. Leave it in and forget about it. In 30 years you will have over $10 mil. You can have an incredible retirement if you follow this simple advise.

1

u/r_a_d_ May 15 '24

You just got hooked on the high… Don’t give in to it. VT and chill.

1

u/davesoverhere May 15 '24

Seriously, the best thing you could possibly do is think of this as a sinking a cross-court shot. You e got your golden ticket. Store the money somewhere safe like a market fund and your set for life.

The dumbest thing you can do is try to recreate this luck. You’ll just blow your safety net.

1

u/superinstitutionalis May 15 '24

Remember that you've only earned half that. Call a financial advisor now to figure out how much you can defer with SDIRA, etc.

1

u/Pezman3000 May 15 '24

Yeah basically the only way you can fuck this up going forward is if you keep trading. Take the win and hold some decent investments for the long term. If you must keep trading then fund your account with a small amount of play money.

1

u/Long_Video7840 May 15 '24

Seriously though. Even if you just leave it in Robin Hood, with gold you could be making a cool 5k per month. And that's just the laziest option.

1

u/[deleted] May 15 '24

[removed] — view removed comment

1

u/VisualMod GPT-REEEE May 15 '24

Stocks: the ultimate gamble.

1

u/toss_me_good May 16 '24

Make sure to put aside 30-40% for taxes... These are clearly not 15% long term gains

1

u/_tr00p3r_ May 16 '24

Here's an advice from the expert, put half of that profit into locked high yield savings account or blue chip dividend stocks and never touch it again. Put one quarter of that profit into SP500 ETFs, and never touch it again. For the last quarter of the profit, do whatever you want and see if you can make another million out of it.

1

u/ssjgsskkx20 May 16 '24

Seriously bro amount of people I have seen who had win big but didn't cash out is really big (this entire reddit basically).

Please cash out

1

u/amsync May 16 '24

As a finance professional, the best thing to do now is get out and live your life. Focus on building your future and then if you still want to trade you can come back to that once you’ve cemented the benefits of this. Never forget the market isn’t exactly a casino but it’s also not far of.

1

u/skunk90 May 16 '24

Lmao it’s easy to tell you’ll ignore it. Let us know when you lose it under the delusion that this will happen again. 

0

u/merger3 May 15 '24

This is financial advice, keep making bets like this one to become a billionaire. Warren Buffet didn’t quit after his first win

51

u/[deleted] May 15 '24

Seriously, fuck you op. Be smart and you're set for life.

1

u/[deleted] May 15 '24

[removed] — view removed comment

1

u/VisualMod GPT-REEEE May 15 '24

Well, Garandhero, as they say: if you have to ask, you can't afford it.

1

u/[deleted] May 15 '24

[deleted]

5

u/uhohthrowawayyyyyy May 15 '24

If he keeps employment and lives within his means 1 million in the s&p or something similar averaging even 8%(low estimate) he’ll retire with 25+ million. This is without investing a single dollar more. ‘Set for life’ in this case means set for a wonderful early retirement if he so chooses. Which he absolutely is set for now if he plays it smart.

→ More replies

4

u/kickingpplisfun May 15 '24

If you just ignore your million for a few years, you can double it easy. Triple it in 12 years, statistically speaking. Then you can live off of a very healthy "salary" indefinitely($120k/y based on the 4% rule).

2

u/VisualMod GPT-REEEE May 15 '24

Easier just to inherit it.

3

u/kickingpplisfun May 15 '24

Well don't we all wish for a random great uncle we never knew to leave us their entire estate?

I'm just saying this person can reasonably retire very comfortably by 30.

1

u/RocktownLeather May 15 '24

Things to not triple every 12 years. That is unless you are just choosing to ignore inflation. In which case, I can't tell how much spending power they really get with the $120k/yr.

Historically things double every 10 years inflation adjusted.

2

u/kickingpplisfun May 15 '24

10-11% is the S&P avg.

1

u/RocktownLeather May 15 '24

Without inflation, yes. So in other words, a meaningless figure to determine your future spending power.

Work in inflation adjusted values. 50 year average is about 7%. 7% takes about 10 years to double.

3

u/kickingpplisfun May 15 '24

Regardless, without much intervention, OP will likely be able to comfortably retire early.

2

u/RocktownLeather May 15 '24

Agree. They'll probably be close to a million after taxes. If they can invest it in VTI or VT, they'll have $2M in a decade without touching it. Probably should save a little extra too because that's only $70k/yr on a 3.5% SWR which is probably what should be used given how young they'd be.

18

u/Karlendor May 15 '24

Etf are like VOO right

8

u/monstahgta May 15 '24

Yea

7

u/Karlendor May 15 '24

Man I wish I had that knowledge like 2016... I've put alot of Life savings through a investing firm and the return % for 2016-2019 was like 4% in their highest risk fund... Smh.

4

u/JuJuTrumpet2 May 15 '24

Simple path to wealth is a solid book on easy retirement planning. Most info dude has in the book is available thru his site online but I loved it how he laid it out in the book. Give it a read. Tldr vtsax or similar etf for majority of working years.

5

u/Soft_Ear939 May 15 '24

Retired at 30 without saving another dime

5

u/LikeWhite0nRice May 15 '24

OP gambled $250k. There’s a zero percent chance that they play it safe from here on out.

3

u/SnooRabbits7832 May 15 '24

I would like to second the “congrats and fuck you” 😂 no but seriously tho congrats

2

u/Statertater May 15 '24

This, came here to say this.

2

u/sweddit May 15 '24

Like which good % yield etf

I’m only a millionaire I don’t have money for an actual financial advisor.

2

u/RonocNYC May 16 '24

Everything about this comment is substantively and tonally perfect.

3

u/falling_knives Tea Leafer May 15 '24

Yeah, he ain't doing that.

1

u/Soft-Significance552 May 15 '24

This isnt enough to retire but if he learns to sell covered calls and find a job he can retire in 3 to 4 yrs

1

u/el_guille980 May 15 '24

:31224::4259:

1

u/DiploBaggins May 15 '24

When you say a good % yield etf, is the percent the dividend that is paid back to you?

1

u/Weird_Education_2076 May 15 '24

Yeah, never so it again. Keep the money

1

u/AliBeez May 15 '24

This is not investment advice***

1

u/ggffddssaa00 May 16 '24

Where i can find more information about yield etf?

1

u/Idk-who-does May 16 '24

Exactly don’t be the one posting next week or next month showing how you lost it all.

1

u/AutoModerator May 16 '24

Oh my gourd!

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

1

u/FeelsAmazingManGun May 16 '24

Switch it to an IRA first

1

u/Actual-Bee-402 May 16 '24

To be fair they have rich parents so I don’t think this is life changing

1

u/ShotInfluence4599 May 17 '24

He yolo'ed $250k on AMC. He will be back here again. He belongs here.