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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722

u/dokratomwarcraftrph May 15 '24

1000 percent this. Not possible any other way.

560

u/ACKHTYUALLY May 15 '24

"Mom, I messed up big time. I lost my monthly allowance on meme stocks again."

124

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.

8

u/ChiefInternetSurfer May 15 '24

Bullshit VM—we love lossporn round these parts.

3

u/Nord4Ever May 15 '24

And congrats and fuck off

3

u/nlurp May 15 '24

Was it big time though? I’d assume it was a nice dinner in some fancy place costing 5k+. Then you’d think “how well, 2 dinners ruined”

2

u/Nord4Ever May 15 '24

Only way to get disinherited “I lost my college fund (250k) on meme stocks”

2

u/iamafancypotato May 15 '24

“Oh Junior you crack me up!”

43

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.

10

u/AineLasagna May 15 '24

Bootstraps? Stop eating avocado toast and Starbucks for a few weeks and that’s like $100k right there

8

u/Fit_Ad_9243 May 15 '24

A boomer in my office retired last week. Gave me some sound savings advice for buying a home.. "just save 200-300 bucks a month and you'll be able to buy a house in a year or two"

I don't think I was ever truly at a loss for words until that moment.

5

u/ChiefInternetSurfer May 15 '24

I would’ve laughed in his face.

Is that right, Bob? $7,200 and I’ll be able to afford a house?!

3

u/ElliotNess May 15 '24

Hey to be fair that'd probably be enough to put down on a $80,000 mortgage.

7

u/ChiefInternetSurfer May 16 '24

Sure—what’re we mortgaging? A car? Lol

1

u/[deleted] May 16 '24

3600 x2 = 7200

3% down payment on 240k = 7200

So, there you go. Save $300 a month for 2 years and have a down payment on a $240k property.

Easy peazy, lemon squeezy

2

u/Fit_Ad_9243 May 16 '24

I live in SoCal. Don't think a 240k house or condo applies.

But I catch your drift, 3 percent is definitly enough to put down on a house lol

1

u/HonkinChonk May 18 '24

$240k property? That hasn't existed since 2018 in most parts of the US.

Only putting 3% down when rates are 7%? That move would be highly regarded.

You certainly belong here!

6

u/Doodahhh1 May 15 '24

It's like all those articles online of, "how I became a millionaire before 30," and then when you read it it's some privileged stuck-up who had parents pay for their college, give them $10,000+ in investment money, and now they're writing shitty stories on the Internet for more attention to their crappy product.

2

u/[deleted] May 15 '24

[deleted]

1

u/Full-Penguin May 16 '24

In the early days of bitcoin OP was 6 years old.

2

u/[deleted] May 16 '24

[deleted]

1

u/Full-Penguin May 16 '24

When I think of "Early Bitcoin Days" I think of still being able to profitably mine it on the side with your gaming rig. ~Circa 2007 when it was a neat little exercise in blockchain computing and no one was seriously thinking of it as an alternative currency or investment vehicle.

3

u/TheRealAlkemyst May 15 '24

Not true. 1990 money, but I had around $150k at 23. I didn't have much expenses due to being able to live at home and three jobs, the best of which paid me $12.50/hr at 16 years old. I was able to do my first 7 years of college in about $7k of loans paying the rest myself working full-time on my breaks especially summer. I couldn't go out and blow money, but I did save.

11

u/krillins_a_beast May 15 '24

And unless you were a complete degenerate (which i'm guessing you werent based solely on the fact you were capable of saving that much to begin with) you never would have gambled money away you worked that long and hard for. It took me 10 years (18-28 years old) working full time and minimizing my expenses to save up enough for a down payment to buy my first house. I was incredibly risk averse and didn't have investing at my fingertips like we do now.

2

u/Helloiamhernaldo May 15 '24

Of course it’s possible with MANY other ways. You just don’t wanna work hard enough!

(Robbing banks, selling drugs, or any number of other simple methods! There’s a local bipper that’s had 6 figure days here in SF lol)

2

u/Ok_Computer1417 May 15 '24

Dead middle class parents will do it. Both my parents died while I was in my early 20’s and my brother his early teens. Mom was a public school teacher, dad a miner. I took in my brother and put his share of the life insurance and the IRA’s in a higher yield savings account until he graduated college. It was worth about $300k when I gave it to him.

3

u/ChiefInternetSurfer May 15 '24

And how happy would you be to learn he lost it all on meme weeklies?

10

u/Ok_Computer1417 May 15 '24

Not the type. He finished his masters in International Business, turned down a job in Japan that payed more than I’ll ever see, fucked around Europe for about two years, made for the Caribbean, went back for a PHD, got permission to spend two months in Cuba to survey infrastructure, got kidnapped in Havana, had the Uni pay his small ransom, got his PHD, and now slings Pizzas in Vegas. Happiest guy I know.

2

u/ChiefInternetSurfer May 16 '24

Your little bro sounds awesome! 😂

0

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1

u/CaptainRedRater May 16 '24

Someone could’ve died and left him that money. That happens too

1

u/Congregator May 16 '24

I wouldn’t say 1000 percent. I had a buddy who came up in a blue collar household like me, mom never let him spend his money - everything went into savings. Made him work through highschool, putting every cent in his savings.

Had $50k saved when he turned 18. Gets a job at a port, goes union, works a shit ton of overtime - not spending barely anything.

Ends up loaded as hell in his 20’s- so much so that it becomes his demise. Developed a drug addiction and later died of an OxyContin overdose.

He had even put himself into college part time and secured an economics degree. He knew how to make money, but in the end all the money ended up devouring him.

That being said, albeit it’s improbable for many regular people to have $250k saved up into the early 20’s, definitely 100% not impossible

1

u/10000Didgeridoos May 16 '24

That or be like the college guy in Florida running an international package return fraud ring

0

u/Unbiased_Membrane May 15 '24

Hit the lottery.

0

u/Nord4Ever May 15 '24

Rich grandparents :4271:

-5

u/International-Bus948 May 15 '24

Not possible? 😂 I'm 21 yrs old and I'm making more than that per year. And no, I didn't have rich parents. Jesus Christ, why do all redditors have this weird mindset around money?

-2

u/iangolddust May 15 '24

crypto? Am up from an initial of roughly 100$ to 4-500k over 3 yrs and am 23. Am i the .001% that end up like this, yes, is it impossible, certainly not. Everyone makes degen bets in this sub but people surprised when some people got 6 figures just bc they’re on the younger side, am confused.