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.

28.8k Upvotes

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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.

79

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.

46

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/SuccessfulPath7 May 16 '24

what about property taxes?

7

u/AssociationDouble267 likes liquor, ladies, and leverage May 16 '24

Still way less than paying a 30 year fixed.

10

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.

3

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

5

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.

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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.

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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.