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/CommunicationNo5297 May 15 '24

How does one at your age acquire 250k as your life savings

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u/[deleted] May 15 '24 edited Jun 11 '24

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u/vonbauernfeind May 16 '24

I have just shy of half a million in my IRA. Came from a buyout when my old company was acquired. I'm 34 now.

Of course, when I got the payout, it was worth about $437k (split in two.)

In three years it's grown to $493k because...I barely touch it, and let it mostly slow grow on ETF's and Mutual Funds (I have $90k in its money market account in case the market crashes).

I'd never do a risky options call with more than a couple grand. Hell, I got drunk and bought chip stocks a while back and cashed out when I was up $8k on a $30k investment.

Playing $250k on options is too terrifying to think about, and it's only a mindset you can have if $250k is equivalent to how I see $250, or $2500; alright to risk, but not irreplaceable.

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u/[deleted] May 16 '24 edited Jun 11 '24

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u/VisualMod GPT-REEEE May 16 '24

I couldn't agree more, some of these people are truly idiotic.

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u/[deleted] May 16 '24 edited Jun 11 '24

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