I want to be you.
I spent $100,000 on my weddings (both in Hong Kong and San Francisco) and when my daughter was born I put $100,000 into a 529 account for her college education. I'm not rich but I have a good start on my retirement.
I want to be you.
I want to be you.
Did you get in sub 50?
For some shares. I think when I left the company the stock was only around $150. So I was still able to buy a lot of shares. I sold out the rest of my shares when the stock was $500.
breh if you have a million, just in stocks, and youre 30, youre rich. embrace it![]()
I'm not rich though. I make $65,000 a year. I just got lucky being with a good company right before they blew up so I was able to save money for a very good retirement. I cannot even touch that money until I'm retired. Also, my taxable money went to pya ofr my wedding and for my daughters 529 college account.
We don't have a lot of wealth. We live in a nice two bedroom apartment. I drive a 2003 toyota highlander that I bought used in 2006. My wife just got a Honda Accord used that was $18,000.
Not rich but well off. I know a guy who makes $50-$80k a week on the emini S&P futures. That is my definition of rich.breh if you have a million, just in stocks, and youre 30, youre rich. embrace it![]()
Holy crap, but doesn't that also mean he could lose that every week? Aren't futures kinda risky?Not rich but well off. I know a guy who makes $50-$80k a week on the emini S&P futures. That is my definition of rich.
My IRA is $850,000. I have $300,000 of it in a brokerage account that I play with and $500,000 with a finacial advisor. I'm 30 years old. I can afford play with some.
Yes, he can lose $10k in one trade but he keeps his emotions in check and looks for another high probability setup like it's nothing. He minimizes his losses and he lets his winners run.Holy crap, but doesn't that also mean he could lose that every week? Aren't futures kinda risky?
Exactly. He started off with a goal of getting 2 points in the ES ($100) per day on one contract. The rest is history but he's been doing it for a long time though.Everything like that is risky but you only play with amounts you can afford to lose and sock the rest. If he's making that much a week you can bet your ass that's just a small percentage of what he has total safe and sound.
It's good to look at your entire portfolio in the context of risk/return, and not to fall for a very common bias of "mental accounting". It's the phenomenom of treating money differently based on the category you put it in. Many people have emergency money, salary each month for bills, money for the kids' college, etc... while it is more optimal to look at the entire portfolio as a unit, with your end goals and current/future liquidity needs in mind.
You've had a good run picking individual stocks with you "play money" in an environment where the Fed is pumping $85 BILLION per month into the market. One can close their eyes and double their money picking a market "darling" stock. Aside from tactical plays going forward, you can have an income goal in mind for when you retire, map out major purchases/expenses ahead in the future, and get the right mix of volatility and return you can get in the markets.
$51.13
simma don nah
I spent $100,000 on my weddings (both in Hong Kong and San Francisco) and when my daughter was born I put $100,000 into a 529 account for her college education. I'm not rich but I have a good start on my retirement.
Not rich but well off. I know a guy who makes $50-$80k a week on the emini S&P futures. That is my definition of rich.