$1,000,000

Po

So you know he’s actually rich and not just a nyer

yeah, must be living like a king.

well, like I said, I hope he’s actually spending the money and not just saving it.

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Thanks to the price of lumber my house is 315K but I have 75 to pay off yet.

I don’t spend a ton of money; apart from bridge tournaments (which hopefully will soon be possible again) and the occasional Europe trip (I have a couple flights waiting to book for free with miles) I live pretty simply and would rather just retire at 57 and get out of the rat race.

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PLanning

After hiding enough columns, here’s the plan. If I can dump $$ into my accounts and get 5% on my investments, there’s the $2M. It generates $6,887 per month. Another $169/mo from a pitiful pension. Finally, I am deferring income to pay out in 5 annual installments when I retire to help bridge the time until SS. Right now I’m projecting it will be another $1,533 for a 5-yr period.

Honestly I don’t know what I would do with $8,589 per month. If the ACA is going to subsidize my health insurance, 57 may be too late to retire. I’m counting on the market to crash sooner or later and vaporize 1/3 of all this though.

I do want to leave a decent chunk to my kids though, they will likely be minimum wage earners throughout their lives, but they aren’t spenders either. I wouldn’t mind retiring sooner than 57 and doing something simpler that takes less time. I’d like to spend some time feeding the hungry in my retirement.

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interesting…

Only 28-years-old. I made almost all my money on bitcoin and TSLA. I would be ashamed if I didn’t have $1 million by the time you’re 30, especially when:

  1. You’re an actuary making $200k/year
  2. You have an internet connection, where you can hop on the next meme stock or coin instantly and 2X your money every month.

I rotated out of bitcoin and TSLA and went into SP500. I think money is flowing back in traditional sectors, so tech, hype, meme assets will face difficulties for the remainder of the year.

In the long-run, I’m looking to go back into TSLA when they release a working FSD product (Hopefully FSD Beta v9). I feel like TSLA will be our generation’s standard oil and will have a marketcap in the 10s of trillions as they dominate the automotive market, the energy market, the transportation market, the trucking industry and the robotics industry.

I do plan on putting around 200k into crypto and another 200k into NIO.

I heavily advise against this. Both NIO and cryptos are in a huge bubble from retail YOLO hype meme train investors. This euphoria is dying out and money is rotating back into traditional sectors. I think going with a broad-based index fund is smart in the short-term.

NIO’s valuation is insane considering they have terrible margins and are getting dominated by Tesla on their own turf. Their margins are poor and they have poor branding. Its investors are people who missed the TSLA rally and are hoping for a repeat. Nothing can justify their valuation.

For cryptos, wait until the next halving cycle from bitcoin (Should be summer of 2024). Bitcoin’s parabolic rise from the supply shock eventually spills over into other cryptos.
After the next halving, buy bitcoin and wait until you see upwards movement in ethereum. Then, sell your bitcoin and buy ethereum. Then exit before the bubble pops.

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I have never invested in anything beyond low risk mutual funds

You mean SWPPX or others like that?
How did you go from 300k to 1 million in a few years?

The market has been going up like crazy, I also got my fellowship and after I paid off the house my house-related expenses were only $300 a month or so. Portfolio is mostly S&P 500 large cap stock mutual funds.

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I guess it could be possible, but SP500 index is slow and should only be for retired folks or people who are waiting for a better opportunity like what I’m doing now as TSLA continues to tank.

I’ve never seen anyone who became millionaire in their 20s or 30s by investing strictly in the SP500. Did you get any financial help from your parents?

Where do you live where housing expenses are only $300 a month?

Well, if market can be speculated, everyone would be rich.

When I was trying to buy Tesla at $35 years ago, people said the exact same thing as you are saying now, and that in the universe could justify its insane valuation.

Welp, it’s at $800 now.

I buy the hype without regard to its intrinsic value. If I wanted intrinsic value, I’d be buying a farm instead.

Growing up in the 90s taught me not to get in on things like this.

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Tesla’s current valuation makes no sense considering their current business lines. It got up to $900 due to SP500 inclusion, retail FOMO and a huge short squeeze. NIO only had retail FOMO, which is slowly dying out.

I believe that Tesla has the potential of going much higher (10s of trillions in marketcap), but it can’t be through their current business model of only selling cars, battery packs and solar panels. Tesla needs to prove that FSD is possible and roll out robotaxis. It’s not wise to stay in Tesla now when their entire bullcase now rests on them solving FSD, which could be fake news. This is a completely different situation than last year, where Tesla was clearly executing their plan and creating catalysts but the market just ignored it all. Tesla went from a good investment to a speculative one over the past year.

NIO rides on the coattails of TSLA, so if TSLA doesn’t see upwards movement, neither will NIO.
The hype of NIO was last year. If and when TSLA solves FSD, we may see upwards movement in both TSLA and NIO, but until then, they’ll continue to bleed.

Quick math… $1M becomes $4B in a year at that rate. Call me a skeptic, let me know when you hit a billion.

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You can double your money every month… and also halve your money every month.

If I invest $1,000 and it goes up to $2,000 and then back to $1,000 all in the same month… and then this pattern repeats all year then I have doubled my money every month.

(:wink::crazy_face::woman_facepalming:)

don’t feed the troll

On Wednesday morning, Wood reportedly told a Businessweek event that: “If our research is correct, no promises, we believe our portfolios will more than triple over the next five years, so that’s more than a 25% annual rate of return . These innovation platforms have hit escape velocity. There is no turning back.”

LMAO

is he wrong? 1.25^5 > 3

If… no promises… we believe. People are saying!