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folks like my self who gamble on options or using extreme margin..folks buying and holding stocks in a diversified portfolio are unbothetredIt was crazy to read all the damage leverage did to some traders
Like, my individual stocks portfolio took a 5% hit but I'm reading some people got wiped out completely im like how tf sway?
5 years ago I would've said $1-2 milOn, but off topic question for my fellow investors. How much stock or investment is the minimum for you to quit your day job and live?
I not looking for what how much it would take for you to think your rich, more the base amount you would need not to have to work and feel poor
For instance if your investment got up to 500k, 750k, 1mil, 3 mil, 5 mil, 10 mil, ext... At what point did you win
Capitalism and you are just living on your money/interest/ investment?
As background, If you switch to conservative investments and you can live off of 4 to 4.5%
Of the money you have, you will NEVER have touch the principal and you could live the rest of life and at the time of your death your kids/spouse/family would get ALL of the original money you started with.
Example: 1 mil saved would give you 45k year of just interest. So if you could live off of 45k you never have to work again or touch the principal.
5 years ago I would've said $1-2 mil
In 2025 I'd have to double that. Obviously that's best case scenario end of the spectrum.
Even if I was only getting back $10k a year id consider that an accomplishment.
Going overseas is key lol10k is very doable, I read somewhere most US workers that contribute to a 401k end up with a little more than 300k in it before they retire. That amount can throw off $1,000/month in interest without touching the principal.
My base number is 1.1mil. But my goal would be 2.5 mil.
Provided I kept the condo I already have, at 1.1 I could pay all my bills (insurance, utility, streaming, occasional car repair, groceries, CC), and still have money to go out to eat a 1-2 times per week (Chili's/applebees level and below) and do a domestic (flying) 1-2 week vacation once a year. That would be my minimum
At 2.5 mil , I would be bringing in 100-110k just off of interest. I could live in 95% of all US cities, could easily spend $200-$250 at restaurants or bars per week and go on multiple vacations throughout the year both foreign and domestic . I could also Get a new car every car every 7-10 years(Camry, Camero or RAV4 level) or just lease and get a new car every 2 or 3.
Also if I wanted I could spent 1/2 the year is latin America, Western Africa or Southeast Asia. My costs outside of things I would still be paying for in the US (car/housing) in America would be $2,500/month there. Then in the 6 months I was in the US. I could live like I made 200k, ie nicer crib and car.
Anybody speculating on BYND? (Beyond Meat Inc). In the last 3 years shits went from 37.28 to 2.83 as of today. Gotta wonder if it's going to bounce back at some point or are they gonna fail.
I bought in at around $2 a share, so if it continues to increase I might make back what I lost and then some.
With the whole Argentinian meat situation, it can rise up (pause)Which happened today.
How far do y'all think it's gonna go? $5? $10? To the moon???