Financial Independence and Legit Side Money Ideas For Techies and Geeks

Legit Side Money Ideas for Techies and Geeks

Financial Independence and Legit Side Money Ideas For Techies and Geeks

Programmers, developers, software engineers, and other tech-savvy geeks are often some of the most financially independent people out there. That’s because they often have the skills to turn their side hustles into legit businesses that can generate significant income. In fact, many of the most successful tech entrepreneurs got their start by developing apps and selling them on popular app stores.

Financial Independence and Legit Side Money Ideas For Techies and Geeks

But you don’t need to be a whiz kid to make good money from your technical skills. Even if you’re not interested in starting your own company, there are plenty of opportunities to freelance or consult on projects that can pay well. And with the global economy increasingly reliant on technology, those skills are in high demand. So if you’re looking to boost your income, consider using your geeky talents to earn some extra cash. Who knows, you might just find yourself becoming a millionaire in the process.

This blog is about Clever Questions, Answers, Posts, discussions, links about:

If you’re a programmer, developer, software engineer, geek, or computer scientist, then you know that financial independence is important. After all, who wants to be tied down to a job they hate just because they need the money? The good news is that there are plenty of legitimate side money ideas out there for techies and geeks. Here are just a few:


  1. Programmers can make money by developing new apps and selling them on app stores like Apple’s App Store or Google Play.
  2. Developers can create websites or online courses teaching others how to code or use specific software programs.
  3. Software engineers can offer consulting services to companies who need help designing or improving their systems.
  4. Geeks can start a blog about their favorite topic (technology, science fiction, gaming, etc.) and make money through advertising or affiliate sales.
  5. Computer scientists can develop new algorithms or sell their existing ones to companies willing to pay for them.

So if you’re looking for ways to make some extra cash on the side, don’t despair – there are plenty of options out there for you. Do some research and see which one might be the best fit for your skills and interests. With a little effort, you could be well on your way to financial independence in no time!

Making money isn’t that big of a deal especially if a person is determined, The primary cause of poverty is ignorance and nothing else.

It stars with a burning desire to learn and your willingness to practice all you’ve learned and make the mistakes needed in other to get the a greater height, “that is how financial progression is achieved and sustained.”


AI Unraveled: Demystifying Frequently Asked Questions on Artificial Intelligence (OpenAI, ChatGPT, Google Bard, Generative AI, Discriminative AI, xAI, LLMs, GPUs, Machine Learning, NLP, Promp Engineering)

in the aspect of making money online with a laptop, you can try out the following listed below….

  1. Affiliate Marketing.
  2. Selling on Amazon, eBay, Etsy, and Craigslist.
  3. Blogging.
  4. Niche E-commerce.
  5. Your Own YouTube Channel.
  6. Selling E-books.
  7. Develop Apps.
  8. Invest/trade cryptocurrency.

To be a master and be really successful in any of the listed, one has to first learn them before anything else goes.

And if you’re interested in cryptocurrency but too Busy and don’t have to time to learn, you can contact me I’ll teach you how a newbie trader can make profit in crypto quickly.

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Legit Side Money Ideas on Quora

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    by /u/AutoModerator (Financial Independence / Retire Early) on February 27, 2024 at 10:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Am I on the right path?
    by /u/canmeh (Financial Independence / Retire Early) on February 27, 2024 at 7:23 am

    Seeking any advice to keep on track for FI. Current life Situation: 38yo living in VHCOL(NYC) and hoping to FI here. I understand that due to the location it might be a stretch but my family and friends are here and it would be difficult to leave at this time. Looking to possibly purchase a condo in the future with my partner but currently not looking too intensely as we both need to save. FIRE Progress: No plans for kids so definitely looking at just myself for the time being. Hoping to fire by 55 but I wouldn't mind doing it sooner if possible. Gross Salary/Wages: Making $135k a year Roth IRA - $83,160 VTSAX 79% VTIAX 12% VBTLX 9% Old Job - Roth 401k - $39,443 FXAIX 82% MVCKX 10% RERGX 5% RILFX 3% New Job - 401k - $7632 RERGX 5% FXAIX 75% MVCKX 20% HSA $2,765.58 Wealthfront $16,130 Rent isn't so bad for me as I have 2 roommates and my portion of the rent is only about $1500. My expenses in total is around $50k but I'm working to bring that down to $40k a year. I would choose to put more into my HSA but I'm beginning to see more medical specialist these days so have opted out of choosing that as my medical plan. Current expenses: Rent, food, utilities, medical, other miscellaneous usually cost me about $2.5k a month Assets: I own an apt in Asia with plans to spend some time there later on in life, I still owe about $17k on it and am hoping to pay it off this year. I may look into retiring there but for now its more of a stop over to visit exteded family. Specific Question(s): As I'm looking to pay off the $17k at the end of this year, I'm wondering where I can put that starting next year as I will no longer have that as debt. I do backdoor Roth and max it out every year along with my contributions to my 401k. Again I choose not to have an HSA as the need for better medical coverage is more important atm. I'm trying to understand the pro rata rule though as well since I'm going to be close to the limit for individual contributions and might make more next year. Should I keep doing backdoor Roth and open a brokerage account for the forseeable future? I have yet to rollover my old jobs roth 401k to my new one as my new job's options aren't the greatest. Should I still do it or try to roll it into my roth ira and pay taxes for the amount that my old job matched? Layoffs hit me pretty hard these past couple of years and unfortunately I feel a bit behind in my goals to fire so I'm looking for any advice on what I should be doing better or next. submitted by /u/canmeh [link] [comments]

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  • Over-saving for retirement?
    by /u/DullRegion (Financial Independence / Retire Early) on February 27, 2024 at 2:13 am

    Hi! I had some questions about my savings strategy and would appreciate your insights. Sorry if this is not the right place to ask and please guide me to the proper place if need be. Thank you in advance for reading and responding! About me: Recently turned 24, male, single and living in the US. Gross Salary/Wages: ~275k Current expenses: <3k / month Net worth breakdown: Total 560k Checking + HYSA 40k Taxable brokerage 220k Roth IRA 150k (130k contributions / 20k earnings) Roth 401K 100k (85k contributions/ 15k earnings) Trad 401K (from employer matching) 50k Questions: Should I continue maxing out my backdoor and mega backdoor Roth options? If no, should I withdraw existing contributions and move them to a taxable account so future earnings are also liquid? How can I find a good balance of liquidity while not feeling like I'm throwing away the opportunity to use tax-advantaged accounts? I know these questions have no straight answer but I wanted to get some of your opinions on it and what you might do in this situation. My thought process: in favor of not doing backdoor/mega backdoor: Looking at my net worth breakdown, >50% of it is inside 401k/IRAs. This seems like way too much when I'm so far from retirement. The liquidity could be used as down payment for a house, allow me to take more risks career-wise, etc. I have aspirations to develop a decent real estate portfolio with rental properties, potentially pursue start-ups, my own business, etc. If I were to withdraw all of my contributions since there is no penalty, I would still have ~85k in my IRA/401k's. Assuming an annual addition of only 11.5k from employer matching at a 7% return rate, I would have about 2.7M. My employer matches up to 50% of the 401k contribution limit, so this annual addition would likely increase too. Overall, 2.7M seems like a healthy retirement fund and I would likely have money/cashflow outside of these accounts as well. I'm not particularly interested in completely retiring, so I don't plan to leverage strategies like the Roth conversion ladder. Taxes on a regular brokerage account would be around ~15-20% using long term capital gains tax. It seems like I would be paying 15-20% to have my money 36 years sooner which sounds like a reasonable trade off. in favor of backdoor/mega backdoor: If I'm never going to touch this money until retirement then it would definitely make sense to keep using backdoor/mega backdoor, but this is a big "if". Assuming I can continue increasing my salary, the backdoor/mega backdoor contributions will become negligible and my liquid net worth would become a larger percentage of my portfolio. The government puts a limit on it for a reason. They were also going to ban it a few years ago but that never passed. Maybe they'll try to ban it again in the future and this won't even be an option anymore. If including the contributions I can withdraw without penalty as liquid, my 'liquid' net worth is closer to 85% at the moment. This may change over time as the earnings part of my tax-advantaged accounts continue to increase. Thank you for reading this far! I really appreciate any feedback even if you just want to share your own experiences. If I'm missing anything that might be helpful, please let me know. Thanks! submitted by /u/DullRegion [link] [comments]

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  • Makes sense to buy a home?
    by /u/Mo-Cuishle (Financial Independence / Retire Early) on February 26, 2024 at 9:56 pm

    Re-posting this from r/personalfinance to get a more FIRE targeted perspective. Lifetime renter, thinking about home buying in Spring 2025 in a HCOL city (greater Boston). Looking to get some objective criticisms. About me: 28M. Living with longtime partner 28F. Not married, but it's something we have talked about and would do before buying. No kids in the plans. Currently renting at 1000-sqft 3-bed for $2,800 a month. I just got a promotion, now make $150k base salary with a $15k annual target bonus. Partner makes ~$56k and has verbal confirmation of a promotion that we should know full details of by April at the latest. Until that's locked in, let's call it $205k total household income for now. Combined monthly take home after tax, retirement max, and insurance: $10,550. Credit score: Both ~785 We are both debt-free. I have FIRE in mind and have been saving pretty aggressively since I joined the workforce at the end of 2019. In that vein, the stability of payed-off housing is very appealing to me, even at the expense of cash savings in the short term. Net Worth Breakdown: Brokerage: $90,000 (mostly invested in a total market index fund, would/could move a big chunk to HYSA for a downpayment fund if we decide homebuying makes sense). HYSA: $13,000 401(k): $83,000 Roth IRA: $56,000 HSA $23,000 Housing: We're looking for a 2-3 bedroom in the 1200-1300 sqft range with rapid transit access. For anything that's not a threat to collapse on itself you're looking at $700k starting. At that price and 20% down, a 30-year fixed rate at 6.25%, monthly payment is ~$4,400 (including tax and insurance). So compared to our monthly gross of ~$17,000 we're talking about a monthly payment of 25% of gross, ~$42% of net. Lifestyle wise, home ownership would suit us. We're very DIY and generally enjoy doing home improvement projects. I'm not concerned that I would be able to be approved for a $550,000 mortgage. Question is really "is it prudent?". We would be 1.5-2x-ing our monthly payment. Without context, spending 55% of take home on housing before even counting utilities and repair seems nuts, but with $5,000 per month left over it seems more reasonable. Also of note: I'm a Canadian transplant, so one option I'm keeping in my back pocket is FIREing North of the border with my partner to take advantage of the exchange rate and better public healthcare options. Neither of us are fully committed to that, as a lot can change in 10-15 years, but it's a good option to have. We're planning to stay in Mass for at least the mid-term for the job opportunities and because her family are all in New England. Thoughts? submitted by /u/Mo-Cuishle [link] [comments]

  • 1 YEAR UPDATE - Put in my notice (33 with family of 6)
    by /u/outdoorfire38 (Financial Independence / Retire Early) on February 26, 2024 at 8:46 pm

    1 year UPDATE Put in my notice (33 with family of 6) Original Post: https://www.reddit.com/r/financialindependence/comments/10kcd1q/comment/j60qeis/?context=3 Old TLDR: Put in notice, married family with 4 kids “retiring” with withdrawal rate around 4.5% with mix of stocks, and real estate. Not waiting. New TLDR: Still not working and it is so amazing to have more freedom of time, such a gift for family. My advice if doing the OMY pull the plug it is fun. I apologize for poor grammar and such. I wanted to share something but did not spend too much time reviewing and editing. Numbers: Jan 2024 ~ Jan 2023 - Line Item $1,223K ~ $1,010k - 401k / IRA & 529 (mix of Roth/Traditional) $123k ~ $42k - Cash / Credit Cards / Cars $505k ~ $687k - Rental Equity (down due to sale of one rental and slow year in appreciation) $1,073k ~ $942k - Home Equity (loan 536k) $2,935 ~ $2,681k – Net Worth $1,862k ~ $1,739k – Invested Assets (Net Worth – Home Equity) 2023 Spending = 93k + additional 20K on house projects - 5k unexpected income from Turo (spending was high. I tried really hard not to budget and just spend as we wanted. We had some higher medical expenses from 2022 birth paid in 2023, spend a lot on shopping due to buying items for new location (skis, mtn bikes, etc), also quite a bit extra on food (figuring out grocery stores in new location & lots of guest). 2024 Estimate Spending = 82k (puts withdrawal rate around 4.4%) – Note for spending we include car depreciation, and do not count house principal payment only interest. Seems like a big drop in expenses from 93k to 82k but I think reasonable (example spending in January 2024 was 4600 vs 2023 was 6,300) Surprises/comments 1. Harder to get projects done than anticipated. I had planned to have a lot of house projects completed by this time but due to various reasons I still have quite a bit left to do. It is nice to not be in a rush. Reasons: a. Kids still at home, b. taking time to have fun instead (skiing, mtn biking, hiking, working out, etc) c. making projects harder than need to be but usually ends up with finished product I like much better. 2. Some things I thought I would enjoy, I don't as much. Example I thought I would really enjoy fine wood working, its okay but I have too many other hobbies to spend a ton of time making super detailed wood working. Maybe as I get older. 3. Turo - Decided to rent out my car on whim. Only for two months during peak travel season. Earned 5k on a 15k vehicle. It was fun to learn about, worked with the oldest (age 9) on cleanings and set up a Roth IRA for him with money paid to him for helping to clean. Being a one car family was fine most of the time. Car is currently suspended due to a recall that Ford doesn't have a fix for so not sure if I will do it again. I do think this could be a great way to help "Subsidize" kids' cars down the road. 4. ACA - Due to low income was able to get subsidized medical insurance. Premiums were free to us on a bronze plan. Insurance is overall good but a lot out of pocket before kicks in. Prescriptions did not have great discounts on medical plan; trying to use GoodRX this year. Also in future plan to look into CSR if income is even lower able to get further subsidies 5. Sold one rental and very minimal tax (previous "losses" carry forward) 6. New hobbies cost money to get started, I think I knew this but it really did add up in our shopping category. Even buying mostly used gear still adds up having fun. 7. Looking back prior to stepping away from work it is hard to believe we both worked and had kids. 8. Maybe not a huge surprise but I still feel super busy but when I look back it is diffidently a much more relaxed super busy, 9. A lot less computer time(good and bad as I feel I used to do a lot of good long term thinking and planning in excel). Mostly good to be in the present. 10. Feeling of what's next lingers but giving myself time to enjoy slowing down has been a gift. I think until all my kids are in school I will feel plenty busy but guessing in 4 years when all in school I may want to do some more entrepreneurial work (lots of ideas to try out). 11. I do miss having extra money to look at real estate investments. I still look and figure if i find a really good deal I could bring on friends to invest. 11. Sold rental - from preliminary discussions with accountant, even though we made a ton of money on sale our old paper losses on all rentals offset most of the gains. 12. Club sports discussion - Our older kids are involved in tons of activities(flag football, soccer, basketball, wrestling, downhill skiing, xc skiing, baseball, tennis, and golf) but all have been in a recreation format, mostly laid back with affordable programs, that we often coach. We have been discussing "travel" soccer for oldest as he really wants to and I had been pushing back as I don't want to spend weekends apart as family or traveling. Anyways my SO mentioned the cost. I figured whatever the cost was, that was not the concern. With hotels and added cost for signups and gear probably 4k. I was proud that I did not think about the money as my first response to my SO. I think we are pushing out the travel soccer for at least one more year, so time will tell what we decide but hopefully money does not become a deciding factor. Future Research Topics 1. College for kids - lots of ways to save if keep income low, need to look into sooner than later so we can plan roth ladder. 2. CSR health insurance - if income low enough '(200%FPL - need more research) get further subsidies to reduce out of pocket. Day in Life (often asked of other early retirees) - Weekday - wake up hour later than used to -> make breakfast for family -> walk kids to school often chatting with neighbors -> daytime spent on a few main items (kids, workout, errands/food, house projects, hobbies, dog walk, kids, etc). Portion of the day that older kids are in school goes by quicker than would like but thats okay not in a rush to get anything done. Walk kids back home -> snack -> usually some sort of activity or we just do something as a family or just part of family (such as park, swimming at local gym, bike ride on trails, playing sports in garage/yard, etc) - Weekend - spent mostly at kids activities/doing activities with kids and church (no errands required) - Summer - quite different - I wake up early to workout so I can spend the rest of day with kids. Kids had some camps and such otherwise we would find something fun to do (often mtn bike, pool, paddleboarding, hike, playground) then some downtime/cooking as a family. - Travel - Pretty normal to other but in summer not in a rush so we drive and make stops along the way, often times to visit friends we had not seen much since college(this was super fun to get together with college friends bonus being many had kids similar ages) Average day where does 8-10 hrs of work go Extra sleep 1 hr Extra time to workout (used to have 22 min at gym during lunch break, paying off working out longer) House Projects Kid Time Fun - ski, mtn bike, ski, etc Day date with wife Extra time cooking Dog walk longer Nap time with littles (SO & I trade off) Errands normally would do in weekends Walking kids to and from school Hobbies/Activities I did this year that I wouldn't if working: 1. Marathon (first one) 2. Olympic Triathlon (first one) 3. Hunted approx. 15 days in field (some with my dad, some with friends, and some by self) 4. Cooking - Sour dough, smoking meat, new recipes, a lot more homemade food 5. Volunteer at kids activities (between SO and I we coached flag football, 2 soccer teams, 3 basketball teams, adn taught sunday school) 6. Other kids activities 7. Ski and mountain biking - doing these a bunch and teaching kids has been super rewarding. 8. House Projects - It has been a lot of fun putting finishing work and custom work in our house. Always dreamed of building a dream house but doing all these projects is a close second. I have also had time to be a bit more "green" by reusing items rather than buying new ones. Reuse comes using facebook marketplace, leftover materials I saved when the house was being finished, and wood I pulled out of a 100+ year farm house. Favorite project was a bathroom I finished in the basement where I did a super detailed mountain design in the wall tile, this took probably 5x longer than if I tiled normally due to all the cutting. 9. Visit Family for extended periods of time. 3 trips home, one for almost an entire month. It was great but will probably reduce some. Also first train ride (overnight as family to visit family). 10. Day Hikes with friends or family. 11. Backpacking overnight with oldest son in a National Park 12. Actually reading books(or audio books) - I would never call myself a reader but I might become one if you count audio books) 13. Nap time - for kids but I got to join (I never napped but got some good books, podcast, and netflix in) 14. SO trip to help with newborn in extended family submitted by /u/outdoorfire38 [link] [comments]

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  • Daily FI discussion thread - Monday, February 26, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on February 26, 2024 at 10:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • How do change your mindset to be comfortable with Coast FIRE, and bigger risks?
    by /u/Future_Look6983 (Financial Independence / Retire Early) on February 26, 2024 at 5:56 am

    Myself (28M) and my wife (28F) just hit 500K NW. Big fans of FIRE philosophy. We abide by the vast majority of boglehead rules- max out 401K / IRAs, invest in low cost index funds (~100% stocks), high savings rate of 50%. The main place I deviate from this philosophy is my cash holdings are huge, about 200K out of the 500k. This is mostly because 1. Interests rates are high and 2. I’m particularly risk averse, to a fault. Which leads to my question- what is your strategy for being comfortable with taking big risks? How do you decide what you can afford? How to you make the mindset transition from saving a ton to coasting? We work in tech, and it’s good money, but the stress and life style are not for us. We are both ready for a big change but not exactly sure what we want it to be. Take a year or 2 sabbatical, move to Asia for some adventure, try out van life…something big before we have kids. Another reason for the large pile of cash since we aren’t exactly sure what we may need. I’ve recently come across Coast Fire which is such a helpful mindset, but I have a hard time convincing myself we are actually there. The numbers add up…. But it’s such a different attitude than having a 50% savings rate. And I get stressed that our cushion isn’t big enough, but also not sure how big I need it to be. Looking for some strategies to help get more comfortable with change, or some key calculations folks use to feel comfortable. Thanks for the help. submitted by /u/Future_Look6983 [link] [comments]

  • Little baby milestone today.
    by /u/whereisyourtowel42 (Financial Independence / Retire Early) on February 25, 2024 at 9:26 pm

    Tallied up the accounts, $102k across retirement accounts. It's exciting! I am not including personal, emergency or house savings I also have since those accounts are reserved for things outside of retirement but after working hard the last 9 years (when I started my first real job after grad school) to pay off all debts (small credit card debt, student loans, and car loan), it feels really good to be completely debt free and have six figures in retirement today. Sometimes it feels like i am behind reading some people's posts, but I know i shouldn't and i feel proud today as someone who grow up poor with no personal finance taught to me until college when an amazing professor made it a point to offer a saturday personal finance 101 to his students...he put me on a path i may have not found for quite some time and i am thankful every day for that great man! Here's to staying focused and I look forward to lookback in another 9 years! submitted by /u/whereisyourtowel42 [link] [comments]

  • For the youngsters that won't be doing FIRE for another 20 to 30 years... what happens when we have to back away from Capitalism?
    by /u/IHadTacosYesterday (Financial Independence / Retire Early) on February 25, 2024 at 7:56 pm

    Ok, this is more of a hypothetical post of looking 20 to 30 years into the future. First off, we should all know by now that Artificial Intelligence is barreling toward us like a runaway freight train. It's only a matter of time before A.G.I. happens. Many experts in the field believe that AGI will happen in the next 5 to 15 years. Let's just assume that legitimate AGI happens 10 years from today. I'm not sure that people understand the actual ramifications of this. The exponential nature of AGI. Actually, it's probably impossible for the human mind to comprehend. I'm talking about the exponential nature of AGI. Sam Harris was talking about how a legitimate AGI could potentially do 20 years worth of normal human intellectual labor in the span of two days. It's really hard to wrap your mind around these things. Of course, it's only natural to expect that AGI will be able to solve the vast majority of our civilizational problems. The first will be free energy. If we don't have our own free energy in the next 5 to 15 years, well.... we'll certainly have it within a year after AGI. Then, consider robotics. Consider the race that's currently on to build humanoid robots for factory purposes. Tesla has their Optimus bot. Boston Dynamics has atlas. A company that Amazon owns has their own humanoid robot. Now, just imagine a legitimate AGI designing a humanoid robot to be unbelievably efficient, requiring very little power. Add on top of that, basically free energy. It's not hard to imagine an AGI developing a robot factory that has raw materials coming in on one side, with fully-functioning humanoid robots walking out the other side. (not a single human being involved in this process). What this would mean for humanity is the end of labor as we know it. AI and AGI is already guaranteed to end cognitive labor. But the Robotics/AGI/Free Energy revolution will also eliminate physical labor. It doesn't take a rocket scientist to figure out that Capitalism isn't long for such a world. You can't have 90 percent of humans doing basically nothing, and still have Capitalism as a concept actually working. So, we're headed for a post-Capitalism society. I don't personally think I will need to worry about this in my lifetime (currently 53). But, I know there's tons of 20 year olds and 30 year olds, planning on doing FIRE when they're 50. What happens to all physical assets and stores of wealth when we are forced to back away from Capitalism entirely? What I mean is, let's say that the year 2068 is when the USA decides to completely back away from Capitalism. Think of the person that was grinding hard to save a ton of money and build up their wealth a mere five years before that. Imagine how screwed this person will be? I've thought about this extensively and the only way I see out of it is some sort of "grandfather clause" for ownership of land/wealth. Even though, the wealthiest people on planet Earth won't be super interested in backing away from Capitalism, they're smart enough to see the writing on the wall. They have to know that the end game is nigh. It's like Blockbuster Video executives in the last couple of years. They have to know the game is over. Still, I think the wealthy elite will concoct some sort of grandfathering in of stores of property/wealth for a 200 year amnesty period. If this was happening today, if we were backing away from Capitalism today, then Jeff Bezos, Mark Zuckerberg and other billionaires would know that their wealth will be grandfathered for 200 years, but that once 201 years has gone by, all their property/wealth/etc, will become property of the Earth Alliance. They will agree to this, because they know that their children and their grandchildren will still have tremendous wealth to live off of. They will know that way in advance, that their great grandchildren, or great-great grandchildren, will simply just be a normal citizen of the Earth Alliance, and they will be issued a standard flying car and underground earth domicile, like the rest of the 13 billion people living on Earth and Mars at the time. Ok, I'm kind of bullshitting at the end here, but you should get the jist of the concept at this point. Is anybody thinking about this? submitted by /u/IHadTacosYesterday [link] [comments]

  • Am I too dumb with my all Target Date Fund investment strategy? If so, is there a way to illustrate that dumbness so I can understand?
    by /u/TenseBird (Financial Independence / Retire Early) on February 25, 2024 at 4:42 pm

    Young person here. Not sure if I even make enough for FIRE, but I'm at least trying. A few years ago, I learned about investing. People definitely emphasize investing heavily, but in what exactly? Too complicated I say! My thoughts were that I'll simply pick 1 safe thing for each investment account and call it a day. Hence, these were my investments: VLXVX in 401k, FFIJX in IRA, TRSJX in my HSA. That's everything. Well, it's been a few years of this, but as I read posts on Reddit, I think most people don't actually do this. So I was wondering how much money I'm really missing out on, compound interest wise and all that. But I don't really speak the stock market language, stuff like "you should have more stocks less bonds" doesn't really mean anything to me. Obviously I know what stocks and bonds are, and I know how much I have allocated into each, but I don't know how my actual number tied to my net worth gets affected by all of this. I willl attempt to present a very simple hypothetical scenario that maybe you can give your insights on: Let's say that there are two people, named John and Jane. They save $10,000 per year. Their goal is to (safely) get $1,000,000 as soon as possible by investing. John uses exactly my strategy, with 100% of his money dumped into some target date fund. Let's say VLXVX for simplicity. Jane uses...some other strategy. I don't know. Maybe the one people on this sub typically use. The question: Roughly, how many years will Jane reach the $1,000,000 goal before John does? Though maybe, there's no way to get an answer for this scenario, because it might be a coin flip on whether John or Jane reaches the goal first, simply because Jane went for a riskier strategy...or is that wrong? Hopefully I got my point across. To summarize, maybe going all-in on Target Date Funds aren't that good of an idea, but...by how much? I'm not really looking for "what do I invest in", I just wish to deepen my understanding by looking at how the raw number projections end up looking, which is what I don't get. Or maybe nobody knows, and we're all just winging it. Thanks for reading, if you did. Edit: Thanks for the answers! I guess the gist of it is that what I'm doing is mostly fine, though I could do with some small optimizations especially on TRSJX with its high ER. What would matter more is optimizing my expenses and working on climbing the corporate ladder to focus on pumping even more money into these accounts. To learn more I'll look into more resources using hints that everyone here gave me. submitted by /u/TenseBird [link] [comments]

  • Thinking about it but not really planning?
    by /u/theBacillus (Financial Independence / Retire Early) on February 25, 2024 at 3:42 pm

    Just turned 50M, wife and 2 teenagers. I'm trying to figure out how my financial future is going to look like. I like saving, for the wife it's harder, but working on it. 401k maxed for both, currently about 1.5Mill combined. 90% in tech fund, I highly believe in tech and willing to risk it. About 150K in crypto, i don't plan on touching it for a long time maybe even just leave it to the kids as generational wealth if it turns out to be that. 280K in self managed IRA. Cars paid off, house paid off (about 650K) Bought recreational land in 2021, worth about 800K-1Mill, owe 450K on it at 5%. I'm building a cabin on it this year, about 150k, using company stock. That will increase the property value and might* be lightly used for vacation rental. Not sure I want strangers wreaking it. Wife company stock 200k, half vested My company stock 150k vesting. I get about 70k new rsu every year. Paycheck about 350k combined including bonuses but not the stock. Most gets spent after ira, taxes, mortgage, vacation, etc. 1k goes into crypto, 2k into vacation funds monthly. I started all this in 2012 that was twelve years ago. I had 30k in the IrRA at that point and no other savings. 401k and the market did well for me can't complain. I'm thinking if in the next 12 years I have until 62, if I can grow the holdings by another 1.5Mill they we should be okay. Take out 100k every year that will last 30 years. Probably switch to dividends at that point. I have no idea what I'm doing just kind of trying squirelling away. Your advice is appreciated. Thanks! submitted by /u/theBacillus [link] [comments]

  • 23M just hit $100k NW milestone
    by /u/squid-squad-pod (Financial Independence / Retire Early) on February 25, 2024 at 2:56 pm

    Wanted to share with someone other than my wife so thought I would do it here. I had set out to achieve this goal before my 24th birthday (a few months from now) and just hit it yesterday. I say NW but I really mean total financial assets since I’m only counting what’s in my accounts (not including my car value or some other investments I have in physical items). Some context: wife and I both grew up on the poorer side in the SF bay area. We paid our own ways through college and graduated summer of 2022 (first in my family to go to college) with no debt and a few thousand dollars saved. We were able to achieve the 100k NW milestone on my compensation alone while supporting my wife (a SAHM) and our 1 year old. I’m very proud of how far we have come from where we began and look forward to seeing how far we can make it. Side note: we are still in the bay area and have been living pretty comfortably (subjective I know). Just saying it’s not as impossible as some people make it seem. submitted by /u/squid-squad-pod [link] [comments]

  • Daily FI discussion thread - Sunday, February 25, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on February 25, 2024 at 10:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • What are ways you have invested in your home that have yielded the highest annual ROI?
    by /u/DPSnacks (Financial Independence / Retire Early) on February 25, 2024 at 12:50 am

    Stole this from /r/investing. OP over there had some great suggestions; I'm a newish homeowner and would like to see what this crowd has in mind since I think the more specific focus of this community may provide different answers. Thanks! edit: someone recommend that I clarify I'm not talking about new flooring or anything like that to increase the sale/rental value of my home in X years - I'm looking for annual return on investments in my primary home that my family lives in with no tenants. Edit 2: the word annual hid from a lot of people overnight 🙁 submitted by /u/DPSnacks [link] [comments]

  • What is a good gift for someone who just crossed a financial milestone?
    by /u/QuestioningYoungling (Financial Independence / Retire Early) on February 24, 2024 at 11:27 pm

    I got a call from my younger brother this morning that he officially crossed 100k in total investments yesterday. I am very proud that he is seeing the benefits of investing and that he is so excited to share this milestone with me. Admittedly, he has been pretty on the ball financially since he was a teenager and he had a fullride scholarship to college, so there is no epic comeback story here. That said, I believe it still takes work ethic, responsible decision-making, and dedication from a young age to get to 100k before 25, which makes it an achievement worth celebrating. It also is a great first step on the FI Journey. I'm trying to figure out a good gift to give him to commemorate this achievement and am wondering if you all have any ideas. submitted by /u/QuestioningYoungling [link] [comments]

  • Need an Outside Opinion
    by /u/Secure-Zucchini342 (Financial Independence / Retire Early) on February 24, 2024 at 6:34 pm

    Hey Redditors Throwaway account cuz I'm paranoid, I guess. I read so many posts in various FI and Personal Finance threads that I start to question where I'm at. Sometimes I think we're doing pretty well, and then I see so many posts by others much younger with such inflated incomes and so much more net worth that I start to question my position on this journey. I realize that the subsets of our population that are interested in finance and investing skews the numbers, and this becomes most evident especially when you read where the average American family is, but still. Ok, here goes... Me (51M), and wife (50F) 2 kids, 16 & 14. Soon to be 17 & 15 Zero debt Live in a MCOL area in the US Home is completely paid off and is worth about $425,000 Vehicles are newer and paid off. Always buy 1-2 years old and pay cash My 401k is at $1.133M. It's about 80% total market and 20% international. Expenses are extremely low. It's split about 70% traditional and 30% Roth. I currently have 20% (about $400) per week going into traditional. Company contributes another $15k or so annually. Wife has a 403b that's at $150K. Expenses are higher and I don't love the options, but it's split among the 4 best funds that were available. She's contributing $250 per paycheck which is $6500 annually. We both have about $25k each in Roth IRAs. Maxing these out currently. $250K in taxable brokerage account. Of that, $110k is in a money market fund as our high yield savings for emergency funds, savings, etc.. The rest is in VTSAX. Have $50k in 529 accounts set aside for kids' education, however they may not ever need this. Don't want to go into details here, but college expenses are completely covered from other sources. It's an amazing gift, and I'm thankful for that. Takeaway is that I stopped contributing to the 529s. Kids are good students and will definitely attend good universities. Have approximately $20k cash in other various bank savings/checking accounts Our combined AGI last year was $177k. It varies a little each year based on my pay fluctuations with bonuses, etc. but that's about normal My wife will receive a pension when she retires. The final calculation will depend on her highest paid 3 years, which will end up being her last 3 years. While it could end up being slightly more, I estimate it to be around $40k per year from the pension. She's eligible to collect it now, but plans to keep working at least for 3 more years before retiring and collecting on that. Even then, she can collect the pension and change jobs to something else if she doesn't want to completely stop working, but she's burned out from her current career. Healthcare - everyone's (in the US anyway) ire. We're fortunate that we will have very affordable healthcare coverage from wife's retirement. This will bridge the gap until medicare. Our household expenses have grown over the last few years with inflation and the kids getting older and having more expensive interests and needs. We're spending on average around $75k annually.I have auto contributions setup on several accounts, but we have been trying to stock pile cash for home repair projects. It varies by the month, but we usually save $2k into a general misc fund, $1k for future vehicle purchase, and some other misc. savings funds. A little more background. I grew up with very little and from a broken home. Wife came from middle class family. The older I get the more stressed out about money I am, I suppose because it feels like I have more to lose now than when younger. Spending money really stresses me out. We're on the cusp of a home remodel project that's going to end up costing us around $40k total. We've saved and ear-marked money for it, but that doesn't make it any less stressful for me. I'm burned out at work and just want my freedom at this point. My short term goal is to stay at my current job for 3 more years until I hit 55 and can retire early using the rule of 55. Some days I'm not sure I can do 3 more years, but I'd really like that safety net. My wife is also targeting her retirement for the same year, although she may find a completely different type of work while collecting her pension. Not sure yet. With a planned 3.5% SWR, I know the math works out okay when added to her pension, but it still feels tight or that I'm overlooking something. I'm no tax expert and I've mostly just focused on the savings and earning side of things until now. I never factor Soc Security into my calculations or any inheritance, but the reality is that there will probably be some form of soc security income for us down the road, even if reduced from today. And, while I've never counted on it or included it, there will very likely be some amount of inheritance income as her parents have multi millions and have a trust setup to provide monthly disbursements after their death. I view that as a bonus if it happens, but it could 20+ years in the future, too. I may not live to ever see any of that. One of the things that worries me is that other than liquid cash on hand in the bank, the money in investments just doesn't seem real or tangible. I've watched it rise and fall on a whim over the years with huge swings, and I just fear that it could be wiped out at the drop of a hat with market volatility. It feels like the US is at a crossroads with so much political unrest, AI uncertainty, workforce and labor shortages, funding global wars, etc.. Maybe all generations feel this way at any point in time, but it just seems like the future may be uncertain and unstable. And yet, I try to remain optimistic that the markets will charge ahead and produce income for us. If they don't, I certainly won't be the only one who's screwed. Thoughts? Am I on target to be able to walk away from my job in 3 years or am I dreaming? submitted by /u/Secure-Zucchini342 [link] [comments]

  • Daily FI discussion thread - Saturday, February 24, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on February 24, 2024 at 10:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Hey, another million! $0 to $4M in 31 years
    by /u/EquativeFib (Financial Independence / Retire Early) on February 23, 2024 at 8:47 pm

    I know y'all like status updates (I do, too!). My first post was six years ago when I passed $2M in savings. Now at $4M. Still in the Coasting phase, but pretty much can go fuck myself whenever I want. Short version of FiRe journey: worker bee got fed up with bullshit, started my own company 25 years ago. It was really hard, but worked out in the end. Long version is in a comment from six years ago. Savings growth: $1M took twenty years from $0 net worth. $2M took five years $3M took three years $4M took three years - just hit it last week! The post-Covid recession was a punch in the stomach. Savings (vast majority is Index Funds) dropped from $3.8M to $2.6M very quickly -- losing over a million dollars had me in knots. I'd been through recessions before, but never at this level. Fortunately, I kept my wits, did not sell, and continued to contribute every month to our 401k plans. 'Twas but a blip! Some key points - because FiRe can be more of a journey than a destination: Spouse and I have both been working part time since 2011. Coast-fire has been the best financial decision and certainly good for our mental health. In my last update ($3M), we still had kids in college. Our youngest is just finishing up his last semester in 2024. The 529 plans that we started when they were babies did not quite cover all 8 years of tuition, but it was pretty close. The 529 was amazing to have when we needed it. The growth was tax-free and our investments almost tripled our money by then time we needed to spend it. It was like getting a 60-70% discount on college tuition. Highly recommend. Our earned income is now under $100k/year - as planned, my consulting business continues to decline due to attrition. I very seldom will take a new client -- it has to be a perfect fit or I pass. Mortgage was paid off last year. We take the standard deduction now on our income taxes, which feels weird but makes tax season pretty straightforward. Net worth is technically over $5M because of home equity. Even though earned income is now low, I still continue to contribute to my business Solo 401K plan and max out our Roth IRA every year. The tax advantages are too good to pass up. Annual spend is still close to $100k/yr. That means I now take money out of our taxable investment account for some expenses and to fund the Roth IRAs. A 1% SWR is sustainable, yes? Health care coverage is a weird one. My wife's part-time job fortunately covers us for now with an excellent benefit. And she likes the job. But if she leaves or retires we're going to have to figure out what to do in the years before Medicare can kick in. What do we spend it on? We take awesome vacations. And we still live well beneath our means (in that spending is below earned income -- the 1% SWR is just a way to shift money from taxable to advantaged accounts while we're still working). Staying in the same house for 25+ years has made living expenses low, even in a HCOL city. We have hobbies. We have some small volunteer gigs. Anyway, just another example of FiRe working in the long run despite recessions and other hurdles. Living beneath your means and investing the difference in index funds really does work. Yes, the first million is the hardest! And really, I'd say it's just the first $100k that's the hardest. By then you've got the process down and it's just a matter of staying the course. See you at $5M -- I predict < 2 years if the market doesn't crash again. submitted by /u/EquativeFib [link] [comments]

  • The personality of FIRE vs the math. A small case study.
    by /u/Confident_Ear4396 (Financial Independence / Retire Early) on February 23, 2024 at 6:13 pm

    I FIRED from a local public service at age 42 a couple years ago. I basically faded away starting with early COVID. Mostly through cash flowing real estate, but with a decent pension as a backstop. I climbed the ladder fast in my department so my peers were all Much much older. I watched a few retire and have seen a few retire after me. I ran into one today in the grocery store. He was pension qualified 20 years ago, before I even started and I asked how retirement was. He is going back to work this summer as a part time laborer. He will make what amounts to local fast food wages. 5 days a week, 6am-10:30am. He will water hanging flower baskets downtown with a special backpack rig. Another peer in a similar position comes back every summer to run a piece of equipment in a crew he uses to supervise. He works 6-2 5 days a week may-September. Most retirees from my department come back to work at least seasonally within a year. I can only think of one that fully severed and stayed there. None of these guys needs the money. I know their basic financial situation. They have medical, full pensions, SS and often side hustle. They houses are paid for, their cars are paid for. Their kids are long gone. We are in a low cost area and their hobbies include incredibly cheap things like trout fishing, watching basketball, going to college games and TV. I feel like most FIRE people are out there to stop working to do things they really want to do. Apparently the thing these guys want to do is to continue working at a lower level to avoid spending too much time with their wives. My schedule is absolutely packed. I’m gone at least one week per month and the summer is non stop activities. I cannot imagine getting up 5 days a week to go work, even if the job is easy. That obligation would hang over me when my daughter asked to go kayaking or my significant other wanted to head to the beach. They seem happy/happyish. I don’t mean to sound completely judgemental if they are happy. I just find it fascinating that after a 40 year career they are left so intertwined with work they can’t let it go. Full disclosure: I’m still on payroll too, sorta. I go in about six days a year to do technical work no one else is qualified for. The schedule is set a year in advance. I am currently training myself out of the role. I should be out by August. Me replacement likes to keep me on payroll because sometimes disasters happen and I don’t answer the phone for free. It is more of a consultant role to keep a pet project alive. So yeah, hypocrite I guess. submitted by /u/Confident_Ear4396 [link] [comments]

  • Does anyone do a fun job post FI that they actually like??
    by /u/FinancialParking1809 (Financial Independence / Retire Early) on February 23, 2024 at 5:22 pm

    I'm 5 years into my 10y plan, doing the basic 1M S+ P 500 index fund and 40k a year plan. My Husband and I(f) are both 27 about to be 28. We make 135k and save about 78k a year. We both plan to have some recreational careers to have a bit of extra income I want a little side gig 20-30 hours max. Preferably outside , or with a lot of creativity required. I would love some suggestions. I live in Columbus, Ohio right now but am willing to move later down the line Hubby is from FL. We speak spanish (im not perfect but actively learning) and english. Would love to hear any and all jobs that you guys do for fun! submitted by /u/FinancialParking1809 [link] [comments]

  • Reached $500K NW at 34yo
    by /u/Ferret_Wrangler (Financial Independence / Retire Early) on February 23, 2024 at 5:04 pm

    I just wanted to post because I don't really have anyone I feel comfortable sharing this with. My wife (33y) and I (34y) just reached $500K NW. We live in a medium cost of living city (suburb of Minneapolis). Neither of us are particularly high earners. My wife works in HR and makes about $80K and I work in insurance underwriting and make $75K. We went to a state college together but neither of us work in the fields that we studied (we chose kind of useless majors..). After we graduated around 2012we were barely making $14/hour each and were pretty discouraged. I think that making so little made us pretty frugal though so I think that was a good thing in the long run. We now have 2 kids under 3 years old and while money can feel a bit tight with $30K in daycare per year, we are more than comfortable. I mostly wanted to post this to encourage anyone struggling to start their careers that things do get better. Keep your expenses low, save what you can, and do your best at work and you'll get ahead eventually. Breakdown (numbers approximate): House: $410K (w/ $141K Mortgage 15y @ 2.75%) Retirement accounts: $193K Checking/Savings: $9400 HSA: $9500 CDs (varying terms 1-4 years): $20,000 submitted by /u/Ferret_Wrangler [link] [comments]

  • How do you stay motivated at work when NW can fluctuate by a couple paychecks in a single day?
    by /u/Extra-Metal-248 (Financial Independence / Retire Early) on February 23, 2024 at 3:39 pm

    On a day like yesterday. It sounds like humblebragging but I really want to know people's tips and tricks. submitted by /u/Extra-Metal-248 [link] [comments]

  • Have I been thinking of allocations the wrong way?
    by /u/ExoticPresentation75 (Financial Independence / Retire Early) on February 23, 2024 at 12:16 pm

    Say I am planning to retire at 49.5 years old, i.e., 10 years of early retirement. The way I've been thinking about it is that I will allocate the money that I expect to use during early retirement separately from the money that I will use during traditional retirement. For example, say I am 39.5 years old now: FIRE funds: 90/10 stocks/now, gradually decrease to 70/30 until I hit 49.5 years old. Traditional funds: 100/0 now, gradually decrease to 60/40 until I hit 59.5 years old. In this scenario, I'd basically be more aggressive with my traditional funds for longer, while ending up being more conservative since I'll have less leeway during traditional retirement. But I just had a realization that I might be thinking about this the wrong way. Should I just be viewing all of my funds the same way and use a single allocation based on my expected early retirement age? It has probably been easy to segment the allocations for me because I happen to have them distributed among various accounts but have I been thinking about this the wrong way? If I do use a single allocation, should it be more like the FIRE example or traditional example above? submitted by /u/ExoticPresentation75 [link] [comments]

  • Daily FI discussion thread - Friday, February 23, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on February 23, 2024 at 10:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Now a Household Net Worth millionaire, age 35
    by /u/PincheVatoWey (Financial Independence / Retire Early) on February 22, 2024 at 5:56 pm

    The recent stock market gains have pushed my household net worth into north of a million dollars. As you will see below, some mistakes were made along the way, but a plan is better than no plan, and learning from mistakes is even better. Background: I'm age 35. Both my parents are Mexican immigrants. My dad did not finish high school, and my mom went to school up to the 6th grade in rural Mexico. My mom was 19 when she had me. I come from a privileged background to the extent that I was raised by parents who are married. Beyond that, I grew up with very little cultural capital about saving and investing, and it's information that I had to find on my own through reading and research. I married someone with more of a middle-class background. My wife will likely inherit money later in her life as people in her family pass away, but for the time being, what we have we built from scratch. Here's the breakdown: Checking account: $12K Savings/Money Market: $41K Roth IRA accounts: $178K Brokerage accounts: $180K 529 accounts: $71K 403b account: $27K Cash value in two whole life insurance policies: $125K Home equity: roughly $380K My wife and I also pay into CalSTRS, but I don't know exactly how to factor that into our net worth. Nonetheless, the stuff outlines above adds up to over a million. Yes, I realized that the whole life insurance policies were not a great choice after about a year after I bought the policies in 2015, but I reduced the premiums that I paid on those and shifted money towards the IRA accounts. However, I still contribute a few hundred dollars per policy on a monthly basis because we have two kids. I was on this trajectory when I go married. Thankfully, my wife is also frugal and shares the same values about material processions, though I'm the one that put in the work to educate myself about investing. Looking back, I think the keys for me were the following: -minimized student debt as much as possible early on. I commuted 45 miles one way to the nearest Cal State to save money as an undergrad by living at home. I did not have money from my parents waiting for me when I turned 18, so I also worked quite a bit and paid for my tuition as an undergrad out of pocket. I took out $20K in loans for two teaching credentials after that, but I did so understanding that there would be a job waiting for me when I finished the program. I was able to pay that back very quickly. -I bought my first home at age 25 for $160K, in Palmdale, California of all places. I was able to build equity on that home that became the down payment for my current home. -Avoid lifestyle creep. We only own two cars, a 2013 Ford Fiesta, and a 2016 Honda CRV. -Index funds are your friend What now? Maintain the course. My wife and I have three months off per year, and I personally do not take on work beyond my basic duties because I enjoy the time off. I can start collecting a pension at age 55, though most people in my profession wait until age 61 to max out their benefits. I would consider tapping out at age 55 in order to get some traveling done before I'm too old. The idea of retiring in Baja California sounds lovely, and I would consider it if my non-Latina wife would green-light it, and if Mexico gets its organized crime under control. submitted by /u/PincheVatoWey [link] [comments]

  • Five Year Update: 42 y/o FIREd
    by /u/Oracle_of_FIRE (Financial Independence / Retire Early) on February 22, 2024 at 4:32 pm

    February 22 2019 was the day I retired. Five year anniversary. Last year's post is here: https://old.reddit.com/r/financialindependence/comments/119alxn/four_year_update_41_yo_fired/ Expenses: Now that Mint is blown up I don't have those handy charts automatically generated for me. Fortunately, all of my spending is through either a single credit card or my checking account. I was able to get my Amazon order details sent to me too, so I have full granularity on everything. Total spending was $33,400, which is up about $5-$6k from previous years. My Overall Expenses Taxes: One might notice I don't have income taxes listed on that chart. My Federal Liability last year was around $1300 and State was around $1700. I paid estimated taxes that more than covered those amounts and got a refund this year. I didn't include those numbers in my expenses because (disagree if you want) I am really more interested in my "spending" and those taxes are more a function of specific income moving choices I make. It's important to know, but doesn't really fit with what I'm doing in the above chart. Food: The ballooning elephant in the room. Holy Christ did I spend a lot of money on food last year. In the first four years of retirement my annual food spending was around $8000 to $9000. This last year I must have discovered the fact that I can buy cases of Sugar Free Redbull (my choice beverage) off of Amazon. I was getting a 24-case of Redbull shipped to my house every week for $50 a pop. Between that and finding a beef jerky company I really like (0 carb, it's healthy!) that sells one-pound bags for $35 that I was also getting weekly, that blew up my Amazon spending. $6350 of the $7750 spend on Amazon was in these two items. Breaking down categories, I had $1620 in Fast Food, $1315 in Groceries, $1405 in Pizza, $1345 in Restaurants, $980 in Snacks (7/11, pretzels, cookies, popcorn, etc), $3000 in Beef Jerky, and $3350 in Redbull for a total of $13,015. I spent about the same as previous years in all categories except for the increased Redbull and Jerky. Health: $4466 for ACA health insurance premiums, though I did get a $400 credit for keeping my AGI down last year. I also did $350 for dental insurance, $720 in dental procedures (crown and filling, roughly half off because I do that insurance) and about $320 for OTC meds like Nyquil and Halls. Auto: $1375 for Car Insurance, $1015 for gas. My registration was around $200 too but that's not on the list for some reason. Housing: $99 per month HOA is $1880 with $515 in condo insurance and $1600 in property tax. Utilities: Electric bill of $1005, Gas bill of $493, and Internet of $780. This is approximately the same as last year. I have a phone bill I need to pay, which has a new phone (Samsung S23) payment on it too, but I'm not sure what it is at the moment. The phone total should be around $800 and the line bill around $275, but it's just an added line on a family plan and I haven't paid this year yet. Entertainment: $490 in subscriptions, but some of that was only a partial year. I got rid of Disney and Netflix, so I'm down to just Spotify and Amazon Prime for $27 per month total. $360 in video games and $60 at movie theaters. Vacation!!: I went on a Vegas Vacation with two friends back in November and it was the first real vacation I've taken since I retired. (And frankly, the first real actual vacation I've taken in decades I think.) Total cost for everything was about $2700 for the 3.5 day trip. We spent a ton of money eating at great restaurants, we had the best seats at the Sphere (not exaggerating, my seat was dead center side-side and vertical), and we all did a big $200 buy-in $40,000 payout poker tournament that we did not do well in. Other Purchases: I also spent $330 on clothing, $575 on electronics (new Roomba), $120 on gifts, $565 for assorted other home goods (a desk and power bar for a new modem/etc table, a Waterpik, cleaning supplies and brushes, etc). INVESTMENTS Lets keep the old table and just add to it: Type Retirement Day 1 Year 2 Years 3 Years 4 Years 5 Years Traditional IRA $299,000 $348,000 $380,170 $410,285 $360,715 $395,500 Roth IRA $14,500 $18,150 $70,236 $75,800 $91,469 $170,300 Brokerage $18,400 $22,900 $37,108 $179,110 $139,420 $205,575 Total Vanguard (3 Above) $331,800 $389,100 $487,515 $665,195 $591,600 $771,375 Other Holdings, Crypto/Bitcoin $145,000 $291,000 $1,315,000 $985,000 $595,000 $1,260,000 HSA Investment $6000 $7400 $8760 $9453 $9237 $11,700 Cash $20,000 $9000 $135,000 $9345 $11,785 $11,000 Total NW $502,900 $696,000 $1,946,000 $1,669,000 $1,207,000 $2,055,000 (Total NW not including house and car) The market has been pretty insane, I was up about $24% in my Vanguard accounts for 2023. All three accounts are still 100% VTAX, except for a small "cash" amount in the brokerage money market account that I can withdraw from when I need to replenish checking account cash. Bitcoin is also way up, I have sold a little already and moved that money into VTSAX in my brokerage. If (when) Bitcoin continues to go up this year through the halvening I'll continue to sell a bit and move into Vanguard. I've already done my Roth conversion for 2024 of $26,000, and my 2023 conversion of $25,000 was done in October, which explains the big jump in my Roth balance. Life Stuff: Life's been great. Still hanging out with friends on a weekly basis, still not bored yet. I feel like I'm seeing my parents more often this past year, at least once per month to go over for dinner. Now that they are 70 I think maybe the visits will become more and more frequent as the "time is short" enters the back of everyone's mind. They are still going surprisingly well though, they just got back from a 10 day cruise and visiting friends in Florida. I'm still looking into buying a new house or condo (I talked about it in the Year 3 update). All of my friends live within roughly a 10 miles circle, and I'm 10 miles east of that eastern edge. My current place is nice but pretty small and I'd like to move into a larger condo in a nicer neighborhood that's close to the middle of that friend circle. Driving 30 minutes to go play board games with my friend would be much less of an ordeal (and would become more frequent) if it was just a 5 mile drive down the road. A new condo will of course explode my housing costs. I'm expecting HOA, Insurance, and Property Tax to all about 4x with a move. My current place is worth around $100k and I'm looking in the $300k to $400k range. Not quite sure how I'll handle a "mortgage" or however I plan to pay for the new house. Break off another bitcoin or two I guess. I'm also itching to get a new car. I have a Cybertruck on order but I was not an early reservation holder so it will be probably next year at the earliest I get that. I really kinda want to get a 2 year lease on a Tesla (3 or Y) just to try it out for a while before Cybertruck final decision comes down. But I probably won't pull that trigger. (But... maybe? I've resisted so far.) Final Thoughts: That's about it. Everything is going great, still totally happy, never bored. Never going back to work. submitted by /u/Oracle_of_FIRE [link] [comments]


What are the top 10 Commandments of Options Trading Strategies

Options Trading/Strategies

This blog is about the top 10 Commandments of Options Trading Strategies.

Options trading is a complex and often risky business. However, by following some simple rules, options traders can increase their chances of success while minimizing their losses.

Option strategies are the simultaneous, and often mixed, buying or selling of one or more options that differ in one or more of the options’ variables. Call options, simply known as calls, give the buyer a right to buy a particular stock at that option’s strike price. Conversely, put options, simply known as puts, give the buyer the right to sell a particular stock at the option’s strike price. This is often done to gain exposure to a specific type of opportunity or risk while eliminating other risks as part of a trading strategy. A very straightforward strategy might simply be the buying or selling of a single option; however, option strategies often refer to a combination of simultaneous buying and or selling of options.

Options strategies allow traders to profit from movements in the underlying assets based on market sentiment (i.e., bullish, bearish or neutral). In the case of neutral strategies, they can be further classified into those that are bullish on volatility, measured by the lowercase Greek letter sigma (σ), and those that are bearish on volatility. Traders can also profit off time decay, measured by the uppercase Greek letter theta (Θ), when the stock market has low volatility. The option positions used can be long and/or short positions in calls and puts.

Below are the 10 Commandments of Options Trading:


  1. Do your homework. Before entering into any options trade, make sure you understand the underlying security, as well as the risks and rewards associated with the trade.
  2. Have a plan. Options trading is not a get-rich-quick scheme. Carefully craft a plan that takes into account your investment goals, risk tolerance, and time horizon.
  3. Use stop-loss orders. A stop-loss order is an order to sell an asset when it reaches a certain price point—the point at which the loss on the trade would become too great to bear. By using stop-loss orders, options traders can limit their losses on any given trade.
  4. Let winners run. Once an options trade is profitable, resist the urge to take profits too early. Instead, let the trade run its course and reap the full rewards of a successful trade.
  5. Cut losers short. On the other hand, when an options trade is going against you, don’t be afraid to exit the position and take your losses. Trying to “fight” the market will only lead to further losses.
  6. Manage your risk exposure. One of the most important aspects of successful options trading is managing risk exposure. Make sure you don’t have too much of your portfolio invested in any one security or sector. Diversification is key to mitigating risk in options trading (or any kind of investing).
  7. Use limit orders. A limit order is an order to buy or sell an asset at a specific price—the price at which you are willing to enter into the trade. By using limit orders, options traders can better control their risk exposure and avoid getting caught up in volatile markets.

8 . Be patient . Patience is a virtue in all aspects of life, but it’s especially important in options trading . Don’t enter into trades just because you’re feeling antsy—wait for opportunities that meet your investment criteria . And once you’ve entered into a trade , resist the urge to “trade emotionally” and instead let your original analysis play out . Over-trading is one of the biggest mistakes options traders can make .

9 . Stay disciplined. Like patience, discipline is also key to success in options trading . Once you’ve developed a sound investment strategy , stick to it ! Don’t let emotions influence your trades — if anything , emotion should be kept out of trading altogether . The best way to do this is by developing a clear set of rules that you always follow when making trades . If you can do this , you’ll be well on your way to success as an options trader.

10. Have realistic expectations . Finally, it’s important to have realistic expectations when trading options . Remember : there are no guaranteed winners in options trading ! Every trade involves some degree of risk, so don’t expect to win every single time. If you approach each trade with reasonable expectations and focus on long-term success, however, you’ll be well on your way to becoming a successful options trader


AI Unraveled: Demystifying Frequently Asked Questions on Artificial Intelligence (OpenAI, ChatGPT, Google Bard, Generative AI, Discriminative AI, xAI, LLMs, GPUs, Machine Learning, NLP, Promp Engineering)
What are the top 10 Commandments of Options Trading Strategies

Furthermore:

  • Thou shall always take 100% daily gains or 200% all time gains.
  • Do not fall into temptation and buy during the first 30 minutes of market open. (Selling positions is still permitted)
  • Thou shall not buy calls on green days.
  • Thou shall not buy puts on red days.
  • Avoid greed and do not buy consecutive options on 1 company.
  • Give thyself at least 3 weeks time to play the option.
  • End your suffering and sell if down 50% all time on an option play.
  • Avoid gluttony and do not day trade options. (Swing trades allowed)
  • Be fruitful, multiply earnings and sell covered calls if holding any.
  • Celebrate and binge drink after big gains (or losses)
  • Off topic, but relevant – You absolutely need to be doing a 401k or IRA as well as investing in crypto: 401ks and IRAs offer fantastic tax advantages that straight investing does not. Also if you have an employer who matches you are leaving money on the table by not taking advantage of that. It’s foolish. Crypto is great and should definitely be in your portfolio but it should not be your whole portfolio.
    Sources:
    1- WallStreetBets
    2- Wikipedia

Options trading can be complex and risky business, but by following some simple rules traders can increase their chances of success while minimizing losses

Finance and Binance Breaking News – Top Stories

  • *sigh* paperhanded like a mf
    by /u/BubblyRazzmatazzme (wallstreetbets) on February 27, 2024 at 12:54 pm

    Sold for just a 70% gain yesterday first thing in the morning. submitted by /u/BubblyRazzmatazzme [link] [comments]

  • Daily Discussion Thread for February 27, 2024
    by /u/OPINION_IS_UNPOPULAR (wallstreetbets) on February 27, 2024 at 11:00 am

    Join WSB's community voice chat, every day from 8:30am to whenever! Check out our Earnings Thread and Rules. submitted by /u/OPINION_IS_UNPOPULAR [link] [comments]

  • Are you still waiting??!?
    by /u/Interesting-Click-12 (wallstreetbets) on February 27, 2024 at 10:28 am

    submitted by /u/Interesting-Click-12 [link] [comments]

  • Daily FI discussion thread - Tuesday, February 27, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on February 27, 2024 at 10:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Am I on the right path?
    by /u/canmeh (Financial Independence / Retire Early) on February 27, 2024 at 7:23 am

    Seeking any advice to keep on track for FI. Current life Situation: 38yo living in VHCOL(NYC) and hoping to FI here. I understand that due to the location it might be a stretch but my family and friends are here and it would be difficult to leave at this time. Looking to possibly purchase a condo in the future with my partner but currently not looking too intensely as we both need to save. FIRE Progress: No plans for kids so definitely looking at just myself for the time being. Hoping to fire by 55 but I wouldn't mind doing it sooner if possible. Gross Salary/Wages: Making $135k a year Roth IRA - $83,160 VTSAX 79% VTIAX 12% VBTLX 9% Old Job - Roth 401k - $39,443 FXAIX 82% MVCKX 10% RERGX 5% RILFX 3% New Job - 401k - $7632 RERGX 5% FXAIX 75% MVCKX 20% HSA $2,765.58 Wealthfront $16,130 Rent isn't so bad for me as I have 2 roommates and my portion of the rent is only about $1500. My expenses in total is around $50k but I'm working to bring that down to $40k a year. I would choose to put more into my HSA but I'm beginning to see more medical specialist these days so have opted out of choosing that as my medical plan. Current expenses: Rent, food, utilities, medical, other miscellaneous usually cost me about $2.5k a month Assets: I own an apt in Asia with plans to spend some time there later on in life, I still owe about $17k on it and am hoping to pay it off this year. I may look into retiring there but for now its more of a stop over to visit exteded family. Specific Question(s): As I'm looking to pay off the $17k at the end of this year, I'm wondering where I can put that starting next year as I will no longer have that as debt. I do backdoor Roth and max it out every year along with my contributions to my 401k. Again I choose not to have an HSA as the need for better medical coverage is more important atm. I'm trying to understand the pro rata rule though as well since I'm going to be close to the limit for individual contributions and might make more next year. Should I keep doing backdoor Roth and open a brokerage account for the forseeable future? I have yet to rollover my old jobs roth 401k to my new one as my new job's options aren't the greatest. Should I still do it or try to roll it into my roth ira and pay taxes for the amount that my old job matched? Layoffs hit me pretty hard these past couple of years and unfortunately I feel a bit behind in my goals to fire so I'm looking for any advice on what I should be doing better or next. submitted by /u/canmeh [link] [comments]

  • NVDA thoughts
    by /u/Lunch_Fuzzy (wallstreetbets) on February 27, 2024 at 6:44 am

    This is my current position nothing too crazy just wanted to see how everyone was feeling up to my exp date. submitted by /u/Lunch_Fuzzy [link] [comments]

  • How to profit off fat people?
    by /u/Bitter-Heat-8767 (wallstreetbets) on February 27, 2024 at 5:31 am

    I was at Disneyland today and holy fuck are there a lot of fat fucks. Probably 80% plus were obese with 90% having at least some sort of muffin top. Kinda sad tbh but whatever, how do I make money off it? Healthcare? Pepsi or Coke? Diabeetus companies? submitted by /u/Bitter-Heat-8767 [link] [comments]

  • LUNR
    by /u/trainwrecksforehead (wallstreetbets) on February 27, 2024 at 3:38 am

    It landed like this submitted by /u/trainwrecksforehead [link] [comments]

  • Over-saving for retirement?
    by /u/DullRegion (Financial Independence / Retire Early) on February 27, 2024 at 2:13 am

    Hi! I had some questions about my savings strategy and would appreciate your insights. Sorry if this is not the right place to ask and please guide me to the proper place if need be. Thank you in advance for reading and responding! About me: Recently turned 24, male, single and living in the US. Gross Salary/Wages: ~275k Current expenses: <3k / month Net worth breakdown: Total 560k Checking + HYSA 40k Taxable brokerage 220k Roth IRA 150k (130k contributions / 20k earnings) Roth 401K 100k (85k contributions/ 15k earnings) Trad 401K (from employer matching) 50k Questions: Should I continue maxing out my backdoor and mega backdoor Roth options? If no, should I withdraw existing contributions and move them to a taxable account so future earnings are also liquid? How can I find a good balance of liquidity while not feeling like I'm throwing away the opportunity to use tax-advantaged accounts? I know these questions have no straight answer but I wanted to get some of your opinions on it and what you might do in this situation. My thought process: in favor of not doing backdoor/mega backdoor: Looking at my net worth breakdown, >50% of it is inside 401k/IRAs. This seems like way too much when I'm so far from retirement. The liquidity could be used as down payment for a house, allow me to take more risks career-wise, etc. I have aspirations to develop a decent real estate portfolio with rental properties, potentially pursue start-ups, my own business, etc. If I were to withdraw all of my contributions since there is no penalty, I would still have ~85k in my IRA/401k's. Assuming an annual addition of only 11.5k from employer matching at a 7% return rate, I would have about 2.7M. My employer matches up to 50% of the 401k contribution limit, so this annual addition would likely increase too. Overall, 2.7M seems like a healthy retirement fund and I would likely have money/cashflow outside of these accounts as well. I'm not particularly interested in completely retiring, so I don't plan to leverage strategies like the Roth conversion ladder. Taxes on a regular brokerage account would be around ~15-20% using long term capital gains tax. It seems like I would be paying 15-20% to have my money 36 years sooner which sounds like a reasonable trade off. in favor of backdoor/mega backdoor: If I'm never going to touch this money until retirement then it would definitely make sense to keep using backdoor/mega backdoor, but this is a big "if". Assuming I can continue increasing my salary, the backdoor/mega backdoor contributions will become negligible and my liquid net worth would become a larger percentage of my portfolio. The government puts a limit on it for a reason. They were also going to ban it a few years ago but that never passed. Maybe they'll try to ban it again in the future and this won't even be an option anymore. If including the contributions I can withdraw without penalty as liquid, my 'liquid' net worth is closer to 85% at the moment. This may change over time as the earnings part of my tax-advantaged accounts continue to increase. Thank you for reading this far! I really appreciate any feedback even if you just want to share your own experiences. If I'm missing anything that might be helpful, please let me know. Thanks! submitted by /u/DullRegion [link] [comments]

  • $1.6 to $22.7K thanks to SCMI and SOUN
    by /u/Status-Context-2548 (wallstreetbets) on February 27, 2024 at 1:42 am

    On Feb 16th, I had $1,600 in my account thanks a continued succession of poor trading, down from $8K in 2020. While I was half asleep, I bought 3 $905 Puts, which I flipped 5 minutes later for a little more than double what I paid (they cost $5.00/each). 2 trades later, I ended Friday with $7K. A couple of days later, $900 was transferred in, so I was up to $8K, which meant that I recovered everything which I lost over the last 4 years. On the 19th, I put almost all of it into BTC expecting to make $10 or so a little bit later, but it then stayed there until this morning, when I sold it for $105 profit. (Could've sold it sooner for $150 profits, but whatever.) I watched SOUN, and bought 200 $5 Calls for $0.40/each. 2 hours and 15 minutes later, I sold 100 of them for $1/each, locking in my initial gamble + $2K profit. 1 hour and 27 minutes later, I sold another 50 for $1.30/each, securing another $6,500 profit. (Though it was split into 2 orders.) I'm now sitting on the final 50 calls, which I could've (and maybe should've) sold, though I have nothing to lose by letting them ride. (That's what they all say, right? 🤭) submitted by /u/Status-Context-2548 [link] [comments]

  • How everyone is feeling after todays open and AH
    by /u/Turbulent-Mango3095 (wallstreetbets) on February 27, 2024 at 1:03 am

    submitted by /u/Turbulent-Mango3095 [link] [comments]

  • Spotted
    by /u/dmskater99 (wallstreetbets) on February 27, 2024 at 12:54 am

    GF found “The Powell Guy” enjoying a sports bar in Miami airport. submitted by /u/dmskater99 [link] [comments]

  • NVDA BEARS BE LIKE…
    by /u/Odd-Shirt9668 (wallstreetbets) on February 27, 2024 at 12:37 am

    submitted by /u/Odd-Shirt9668 [link] [comments]

  • $CAVA earnings leaked
    by /u/BigCoolWalrus (wallstreetbets) on February 27, 2024 at 12:08 am

    Edit 2: read to the bottom of the actual release and saw the horrible 2024 guidance, like poo poo quality - puts puts puts! Edit 1: now actually posted on their website. https://investor.cava.com/news/news-details/2024/CAVA-Group-Reports-Fourth-Quarter-and-Full-Year-Fiscal-2023-Results/default.aspx Algos aren’t in yet! —- Looks like $CAVA earnings just leaked accidentally. Huge beat. https://www.bloomberg.com/news/articles/2024-02-26/cava-sales-beat-estimates-as-diners-splurge-on-premium-dishes Cava Group Inc. posted fourth-quarter sales that beat estimates as more people visited and shelled out for premium dishes. The key measure of same-store sales rose 11.4%, surpassing the 6.3% analysts expected. An increase in traffic was responsible for more than half of the gain, with the rest coming from higher prices and the popularity of premium menu items. Revenue of $175.5 million beat the average analyst estimate, as did adjusted earnings before interest, taxes, depreciation and amortization. Restaurant-level margins of 22.4% also surpassed expectations. Cava shares rose 1% in extended trading. The stock has advanced 17% this year through Monday’s close. A news outlet published a story on Cava’s earnings on Monday afternoon. The company had planned to release its results after the close on Tuesday. submitted by /u/BigCoolWalrus [link] [comments]

  • I borrowed $4M in derivatives to invest. Too crazy?
    by /u/Dry-Drink (wallstreetbets) on February 26, 2024 at 10:19 pm

    You might remember me from 3.5 years ago when my Leveraged Smart Beta account started at $400K. Now, it's a $1.1M account with $520K in gains. Ending value - Net Deposits = $520K in gains As the account grows, so must your leverage. So now I am borrowing $1.9M with box spreads (options), and another $2.1M with treasury futures for extra leverage. That's 5:1 leverage, so this $1M account has exposure to about $5M in assets. Leveraged Smart Beta is legit free money, I'm up more than twice the returns of the market with zero effort: Blue is my account. Green is Vanguard Total World Stock. I already wrote a guide to implement it. No, this isn't as exciting or flashy as the literal gambling that passes for "trading" that I see here. But you know what's pretty fun? Doubling your money every 3.5 years and getting to $1M. This is for that crowd. Positions. $1.9M short options and $2.1M in futures to get exposure of ~$5M in long assets ​ submitted by /u/Dry-Drink [link] [comments]

  • Makes sense to buy a home?
    by /u/Mo-Cuishle (Financial Independence / Retire Early) on February 26, 2024 at 9:56 pm

    Re-posting this from r/personalfinance to get a more FIRE targeted perspective. Lifetime renter, thinking about home buying in Spring 2025 in a HCOL city (greater Boston). Looking to get some objective criticisms. About me: 28M. Living with longtime partner 28F. Not married, but it's something we have talked about and would do before buying. No kids in the plans. Currently renting at 1000-sqft 3-bed for $2,800 a month. I just got a promotion, now make $150k base salary with a $15k annual target bonus. Partner makes ~$56k and has verbal confirmation of a promotion that we should know full details of by April at the latest. Until that's locked in, let's call it $205k total household income for now. Combined monthly take home after tax, retirement max, and insurance: $10,550. Credit score: Both ~785 We are both debt-free. I have FIRE in mind and have been saving pretty aggressively since I joined the workforce at the end of 2019. In that vein, the stability of payed-off housing is very appealing to me, even at the expense of cash savings in the short term. Net Worth Breakdown: Brokerage: $90,000 (mostly invested in a total market index fund, would/could move a big chunk to HYSA for a downpayment fund if we decide homebuying makes sense). HYSA: $13,000 401(k): $83,000 Roth IRA: $56,000 HSA $23,000 Housing: We're looking for a 2-3 bedroom in the 1200-1300 sqft range with rapid transit access. For anything that's not a threat to collapse on itself you're looking at $700k starting. At that price and 20% down, a 30-year fixed rate at 6.25%, monthly payment is ~$4,400 (including tax and insurance). So compared to our monthly gross of ~$17,000 we're talking about a monthly payment of 25% of gross, ~$42% of net. Lifestyle wise, home ownership would suit us. We're very DIY and generally enjoy doing home improvement projects. I'm not concerned that I would be able to be approved for a $550,000 mortgage. Question is really "is it prudent?". We would be 1.5-2x-ing our monthly payment. Without context, spending 55% of take home on housing before even counting utilities and repair seems nuts, but with $5,000 per month left over it seems more reasonable. Also of note: I'm a Canadian transplant, so one option I'm keeping in my back pocket is FIREing North of the border with my partner to take advantage of the exchange rate and better public healthcare options. Neither of us are fully committed to that, as a lot can change in 10-15 years, but it's a good option to have. We're planning to stay in Mass for at least the mid-term for the job opportunities and because her family are all in New England. Thoughts? submitted by /u/Mo-Cuishle [link] [comments]

  • $2K to $11K in 2 days
    by /u/Striking_Push5741 (wallstreetbets) on February 26, 2024 at 9:51 pm

    submitted by /u/Striking_Push5741 [link] [comments]

  • MARA-CLSK Money Machine
    by /u/RobotRant (wallstreetbets) on February 26, 2024 at 9:33 pm

    Bought the MARA calls last week for Wednesday's earnings, but decided to sell today on the pop. Sold the CLSK calls to manage risk on this account. But I'm balls deep in MARA & CLSK LEAPS in my other accounts. submitted by /u/RobotRant [link] [comments]

  • There goes my puts lmao
    by /u/XEternal_DamnationX (wallstreetbets) on February 26, 2024 at 9:11 pm

    submitted by /u/XEternal_DamnationX [link] [comments]

  • What Are Your Moves Tomorrow, February 27, 2024
    by /u/OPINION_IS_UNPOPULAR (wallstreetbets) on February 26, 2024 at 9:00 pm

    Make sure you're in the WSB Discord! Check out our Earnings Thread and Rules. DM the mod inbox submitted by /u/OPINION_IS_UNPOPULAR [link] [comments]

  • 1 YEAR UPDATE - Put in my notice (33 with family of 6)
    by /u/outdoorfire38 (Financial Independence / Retire Early) on February 26, 2024 at 8:46 pm

    1 year UPDATE Put in my notice (33 with family of 6) Original Post: https://www.reddit.com/r/financialindependence/comments/10kcd1q/comment/j60qeis/?context=3 Old TLDR: Put in notice, married family with 4 kids “retiring” with withdrawal rate around 4.5% with mix of stocks, and real estate. Not waiting. New TLDR: Still not working and it is so amazing to have more freedom of time, such a gift for family. My advice if doing the OMY pull the plug it is fun. I apologize for poor grammar and such. I wanted to share something but did not spend too much time reviewing and editing. Numbers: Jan 2024 ~ Jan 2023 - Line Item $1,223K ~ $1,010k - 401k / IRA & 529 (mix of Roth/Traditional) $123k ~ $42k - Cash / Credit Cards / Cars $505k ~ $687k - Rental Equity (down due to sale of one rental and slow year in appreciation) $1,073k ~ $942k - Home Equity (loan 536k) $2,935 ~ $2,681k – Net Worth $1,862k ~ $1,739k – Invested Assets (Net Worth – Home Equity) 2023 Spending = 93k + additional 20K on house projects - 5k unexpected income from Turo (spending was high. I tried really hard not to budget and just spend as we wanted. We had some higher medical expenses from 2022 birth paid in 2023, spend a lot on shopping due to buying items for new location (skis, mtn bikes, etc), also quite a bit extra on food (figuring out grocery stores in new location & lots of guest). 2024 Estimate Spending = 82k (puts withdrawal rate around 4.4%) – Note for spending we include car depreciation, and do not count house principal payment only interest. Seems like a big drop in expenses from 93k to 82k but I think reasonable (example spending in January 2024 was 4600 vs 2023 was 6,300) Surprises/comments 1. Harder to get projects done than anticipated. I had planned to have a lot of house projects completed by this time but due to various reasons I still have quite a bit left to do. It is nice to not be in a rush. Reasons: a. Kids still at home, b. taking time to have fun instead (skiing, mtn biking, hiking, working out, etc) c. making projects harder than need to be but usually ends up with finished product I like much better. 2. Some things I thought I would enjoy, I don't as much. Example I thought I would really enjoy fine wood working, its okay but I have too many other hobbies to spend a ton of time making super detailed wood working. Maybe as I get older. 3. Turo - Decided to rent out my car on whim. Only for two months during peak travel season. Earned 5k on a 15k vehicle. It was fun to learn about, worked with the oldest (age 9) on cleanings and set up a Roth IRA for him with money paid to him for helping to clean. Being a one car family was fine most of the time. Car is currently suspended due to a recall that Ford doesn't have a fix for so not sure if I will do it again. I do think this could be a great way to help "Subsidize" kids' cars down the road. 4. ACA - Due to low income was able to get subsidized medical insurance. Premiums were free to us on a bronze plan. Insurance is overall good but a lot out of pocket before kicks in. Prescriptions did not have great discounts on medical plan; trying to use GoodRX this year. Also in future plan to look into CSR if income is even lower able to get further subsidies 5. Sold one rental and very minimal tax (previous "losses" carry forward) 6. New hobbies cost money to get started, I think I knew this but it really did add up in our shopping category. Even buying mostly used gear still adds up having fun. 7. Looking back prior to stepping away from work it is hard to believe we both worked and had kids. 8. Maybe not a huge surprise but I still feel super busy but when I look back it is diffidently a much more relaxed super busy, 9. A lot less computer time(good and bad as I feel I used to do a lot of good long term thinking and planning in excel). Mostly good to be in the present. 10. Feeling of what's next lingers but giving myself time to enjoy slowing down has been a gift. I think until all my kids are in school I will feel plenty busy but guessing in 4 years when all in school I may want to do some more entrepreneurial work (lots of ideas to try out). 11. I do miss having extra money to look at real estate investments. I still look and figure if i find a really good deal I could bring on friends to invest. 11. Sold rental - from preliminary discussions with accountant, even though we made a ton of money on sale our old paper losses on all rentals offset most of the gains. 12. Club sports discussion - Our older kids are involved in tons of activities(flag football, soccer, basketball, wrestling, downhill skiing, xc skiing, baseball, tennis, and golf) but all have been in a recreation format, mostly laid back with affordable programs, that we often coach. We have been discussing "travel" soccer for oldest as he really wants to and I had been pushing back as I don't want to spend weekends apart as family or traveling. Anyways my SO mentioned the cost. I figured whatever the cost was, that was not the concern. With hotels and added cost for signups and gear probably 4k. I was proud that I did not think about the money as my first response to my SO. I think we are pushing out the travel soccer for at least one more year, so time will tell what we decide but hopefully money does not become a deciding factor. Future Research Topics 1. College for kids - lots of ways to save if keep income low, need to look into sooner than later so we can plan roth ladder. 2. CSR health insurance - if income low enough '(200%FPL - need more research) get further subsidies to reduce out of pocket. Day in Life (often asked of other early retirees) - Weekday - wake up hour later than used to -> make breakfast for family -> walk kids to school often chatting with neighbors -> daytime spent on a few main items (kids, workout, errands/food, house projects, hobbies, dog walk, kids, etc). Portion of the day that older kids are in school goes by quicker than would like but thats okay not in a rush to get anything done. Walk kids back home -> snack -> usually some sort of activity or we just do something as a family or just part of family (such as park, swimming at local gym, bike ride on trails, playing sports in garage/yard, etc) - Weekend - spent mostly at kids activities/doing activities with kids and church (no errands required) - Summer - quite different - I wake up early to workout so I can spend the rest of day with kids. Kids had some camps and such otherwise we would find something fun to do (often mtn bike, pool, paddleboarding, hike, playground) then some downtime/cooking as a family. - Travel - Pretty normal to other but in summer not in a rush so we drive and make stops along the way, often times to visit friends we had not seen much since college(this was super fun to get together with college friends bonus being many had kids similar ages) Average day where does 8-10 hrs of work go Extra sleep 1 hr Extra time to workout (used to have 22 min at gym during lunch break, paying off working out longer) House Projects Kid Time Fun - ski, mtn bike, ski, etc Day date with wife Extra time cooking Dog walk longer Nap time with littles (SO & I trade off) Errands normally would do in weekends Walking kids to and from school Hobbies/Activities I did this year that I wouldn't if working: 1. Marathon (first one) 2. Olympic Triathlon (first one) 3. Hunted approx. 15 days in field (some with my dad, some with friends, and some by self) 4. Cooking - Sour dough, smoking meat, new recipes, a lot more homemade food 5. Volunteer at kids activities (between SO and I we coached flag football, 2 soccer teams, 3 basketball teams, adn taught sunday school) 6. Other kids activities 7. Ski and mountain biking - doing these a bunch and teaching kids has been super rewarding. 8. House Projects - It has been a lot of fun putting finishing work and custom work in our house. Always dreamed of building a dream house but doing all these projects is a close second. I have also had time to be a bit more "green" by reusing items rather than buying new ones. Reuse comes using facebook marketplace, leftover materials I saved when the house was being finished, and wood I pulled out of a 100+ year farm house. Favorite project was a bathroom I finished in the basement where I did a super detailed mountain design in the wall tile, this took probably 5x longer than if I tiled normally due to all the cutting. 9. Visit Family for extended periods of time. 3 trips home, one for almost an entire month. It was great but will probably reduce some. Also first train ride (overnight as family to visit family). 10. Day Hikes with friends or family. 11. Backpacking overnight with oldest son in a National Park 12. Actually reading books(or audio books) - I would never call myself a reader but I might become one if you count audio books) 13. Nap time - for kids but I got to join (I never napped but got some good books, podcast, and netflix in) 14. SO trip to help with newborn in extended family submitted by /u/outdoorfire38 [link] [comments]

  • Buy high sell low!
    by /u/nautitrader (wallstreetbets) on February 26, 2024 at 8:33 pm

    Saw this in downtown St. Pete submitted by /u/nautitrader [link] [comments]

  • Nvidia just triple topped🙏
    by /u/bobby_wasabbi (wallstreetbets) on February 26, 2024 at 7:39 pm

    Might be over for nvidia it just triple topped as seen in my diagram. What are you opinions on this? Is it put time🙏⁉️ submitted by /u/bobby_wasabbi [link] [comments]

  • $NVDA is a bubble like $ZM during covid, customers know how to build instead of buy, they just need time to design their own chips
    by /u/mehyay76 (wallstreetbets) on February 26, 2024 at 7:00 pm

    submitted by /u/mehyay76 [link] [comments]

  • Ai bubble
    by /u/TaemuJin777 (wallstreetbets) on February 26, 2024 at 5:32 pm

    What does everyone think i mean sp500 is up alot driven by ai and nvidia and smci just going up so fast. https://fortune.com/2024/02/26/nvidia-ai-bubble-apollo-asset-manager-dotcom-artificial-intelligence/ submitted by /u/TaemuJin777 [link] [comments]

  • Wendy’s planning Uber-style ‘surge pricing’ where burger prices fluctuate based on demand
    by /u/McFatty7 (wallstreetbets) on February 26, 2024 at 4:35 pm

    submitted by /u/McFatty7 [link] [comments]

  • Thoughts?
    by /u/Doublehealix123 (wallstreetbets) on February 26, 2024 at 4:34 pm

    Do you guys think this is to increase liquidity or because of a coming storm? Lots of CEOs pulling out of their own companies stocks. Could be to diversify or increase cash reserves, but could also be something coming down the pipeline that the little guys can’t see yet. submitted by /u/Doublehealix123 [link] [comments]

  • $PANW the next Nancy Pelosi Play
    by /u/RichAdults (wallstreetbets) on February 26, 2024 at 3:59 pm

    on February 12 and February 21 of 2024 Nancy Pelosi bought $1m in Calls for $PANW 200c for January 2025. ​ it dropped 20% after earnings and she bought the dip. Stock is now up 9% today, low RSI and going towards $400. ​ the play: https://preview.redd.it/x8mebr5pcykc1.png?width=932&format=png&auto=webp&s=93641649c0ded1f3e555149c66cb5cb1df3e73e6 First Earnings where they killed it and show a profit. ​ 5/17 400c $PANW opened today on this rip. gap fill incoming to $400 fast. submitted by /u/RichAdults [link] [comments]

  • Loading up on long puts for this one boys
    by /u/ZadarskiDrake (wallstreetbets) on February 26, 2024 at 3:35 pm

    submitted by /u/ZadarskiDrake [link] [comments]

  • FORGET ABOUT Ai THIS WEEK! Why Bumble, Inc. ($BMBL) Is Likely to Lose -25% by EOW
    by /u/MoneyCloudOps (wallstreetbets) on February 26, 2024 at 2:41 pm

    Hello fellow regards. I am well aware of the Ai hype that has gripped the wallets and anooses of gay bears and frothy bulls alike these past couple of weeks. However, press pause for just a moment on NBA 2k and listen to this guaranteed 5x trade that seriously cannot go tits up. I am going to provide a long analysis for the more intellectually inclined and will also provide a TL;DR with a position at the end for you impatient lissencephalic bastards. Thesis: Bumble, Inc. ($BMBL) is going to be worth 1/4 less by the end of the week, because nobody is going to be loyal to a specific dating app and they have no path to continued exponential growth. Background: $BMBL IPO’d on Feb 11. 2021 at a share price of $43 dollars/share and a total IPO price of $2.2B valuation and closed that same day at roughly $70. Keep in mind that 2021 was punctuated with many private companies cashing out and going public at the height of the inflationary and volatile beginning to 2021 where we saw the “stock that shall not be named” get squeezed into oblivion. However, behind the scenes, companies like $BMBL took the opportunity to cash in on the “meme-stock” craze and fleece clueless “dumb-money” for all they are worth (aka: you). Barely 7 months after their initial offering, $BMBL diluted their stock in order to raise money and pay off various liabilities. On Sept 15, 2021 $BMBL completed another set of offerings, this time offering 20 million shares at a price of roughly $54 dollars/share. Their last dilution took place last year on March 8, 2023 where they were able to raise roughly 160 million dollars by issuing 7.5 million shares at $22.80. Essentially, from the inception of this company as a publicly traded entity, dilutions and fundraisers have been the primary source of raising money. This is because.... $BMBL has a horrible product portfolio with no real competitive advantage. Of the four apps that are owned by the parent company Bumble, Inc. ($BMBL) makes up the bulk of their revenue with Badoo coming in a close second. The revenue from Fruitz and Official, their other applications, are not even included in the revenue as they are essentially negligible. Fundamentals: The current macro environment is not kind to companies that are priced for exponential growth and lose money. Also, greed is at an all time high, but not for dating app companies that are trying to sell themselves as a tech company that focuses on dating. ​ Fear and Greed Index Quantitative: Bumble, Inc. is the parent company to four different apps: Bumble, Badoo, Official, and Fruitz. All of these apps are centered around dating, with $BMBL being the most popular of the four and Badoo coming in at a close second. As of their last quarterly report, between the four apps, $BMBL is reporting a paid user base of roughly 3.7 million users which is a 600 million increase from the year prior. Also, they have increased their revenue to $778 million which is up from $661 million the year prior, a 15% increase. This all sounds like good news, right? WRONG!!! Their increases in revenue are still coming on the heels of millions of dollars in losses. In the 9 months ended Sept of 2022, $BMBL had a net loss of 45 million dollars. However, they ended the year in Dec 2022 with a total loss of $114 million when it was all said and done. In the 9 months ending Sept 2023, $BMBL reported a loss of only 30 million. This is not entirely true as stock dilutions and offerings are blunting the true effect of their losses and even if it is, they managed to increase revenue by over $100 million dollars from the year prior and are still posting a loss. Unfortunately, the macroenvironment is no longer kind to companies that are priced for growth on huge mountains of debt and constant financing through dilutions. This year, I speculate that they will also have a major loss, as they typically use accounting strategies to obfuscate their true losses until the fully audited 10K is released, which is Tuesday after market close. Qualitative: In February of 2021, then CEO of $BMBL ,Whitney Wolfe Herd, was being heralded as a genius entrepreneur and as one of the youngest and only “self-made” female billionaires. ​ $BMBL ex CEO / GILF However, in the Fall of 2023, less than 3 years after $BMBL ‘s IPO, she had to step down after poor performance and was replaced by Lidiane Jones, another tech executive who was previously in charge of the workplace communication service, Slack. This can also be translated to, the last three months of 2023 had $BMBL executives and staff mainly focused on bureaucratic positional maneuverings rather than the top and bottom line of the company. Options Chain: Now, I know what you may be thinking. MoneyCloudOps, bad earnings and bad leadership isnt enough to predict a major leg down on a stock in this fucking clown market. Normally, you would be right. However, there is even greater evidence that is compelling for a major leg down on $BMBL this week: The Options Chain. The open interest and options skew on the chain for ($BMBL) this month is absolutely asinine. To the point where it may be possible that someone has insider information on a major earning’s miss and is positioning themselves for major gains. The following images are screenshots taken from barchart detailing the unbelievable put skew currently on these options. ​ Week ending March 01st:Pay attention to the put/call ratio as the weeks move on. For this week 12.87 put/call ratio ​ March 1st Chain (This week) ​ ​ March 8th Options Chain: 23.75 Put/Call ratio ​ March 8th Chain ​ March 15 Options Chain: 3.26 put/call ratio ​ So far, so good ​ ​ March 22nd Options Chain: 631.54 put/call ratio....yes that is not a typo. ​ The Options Chain that forced me to make this post The put skew on these options makes it abundantly clear that the sentiment in the short term on this company is disgustingly bearish. Also, the unprecedented amount of puts versus calls, especially for the end of March, clearly points to possible insider information on bad earnings. The sheer amount of puts also opens up the possibility of the distant cousin to the short squeeze: a Long squeeze. What is a long squeeze? Long Squeeze: A long squeeze occurs when a sudden drop in the price of a stock or other asset incites further selling. In a long squeeze, long holders of a stock are pressured into selling their shares to protect against a dramatic loss. However, the added pressure of massive derivatives in the underlying of $BMBL on the put side will have the effect of causing a long squeeze which will be exacerbated by a gamma ramp to the downside because of the options chain. Short Interest: Ever since 2021 and the volatility of stocks being squeezed into oblivion during the year following COVID stimulus, many traders and various trading groups and websites have taken a serious look at opportunities to squeeze various traders out of positions for major gains. However, many people do not realize that the mechanics of a squeeze can work in the reverse direction. Under normal circumstances, market makers create a market for options by selling the options that retail traders buy. For example, when you buy a call, a market maker has to sell you that call in order to create liquidity for the financial product just in case there is not another third party willing to sell the contract. But when market makers sell options contracts, they become liable to the delta of the option that they sell. This is because each contract has a delta which is positive if you buy calls and negative if you buy puts. The delta tells you how much money the contract will make or lose for every one dollar increase in the underlying. In order to remain delta neutral, market makers have to buy the underlying stock in the case of selling calls to retail traders. This process allows market makers to make money and remain adequately hedged regardless of the movement in the underlying price. This hedging is dynamic and changes as options expire and the underlying moves. On February 28th 2023, Short interest on $BMBL totaled 5.77 million shorted shares. This number has increased to 9.04 million as of January 31st of this year. However, with a free float of roughly 135 million shares, there is not enough short interest to create a squeeze. On the contrary, the low amount of shorted shares actually introduces the possibility of a crunch. This is because as I have shown in the above post on the options chain, the amount of open put contracts has forced market makers to be delta neutral by selling shares of $BMBL short. This means that the increase in short interest from last year until now is mostly due to market makers hedging positions due to the sheer amount of puts vs calls. Just like a gamma squeeze forces market makers to buy more stock to remain delta neutral, a gamma crunch forces market makers to sell shares short to remain delta neutral on their positions from selling put contracts. When $BMBL stock drops on earnings, as the puts get into the money and the delta becomes more negative, market makers will be forced to sell short even more shares which will be a positive feedback loop of put options getting into the money, increasing the negative delta, and forcing market makers to sell shares to remain delta neutral. Based on the strike price of the open options, $BMBL only needs to fall to below $12.50 before market makers will be forced to offset their delta through hedging by selling short $BMBL shares. TL/DR: Final EOW price for $BMBL? <$10 all said and done. They have no path to sustainability and profitability, they have no serious MOAT, and they are losing money hand over fist. Positions: ​ https://preview.redd.it/djc1rhwuyxkc1.jpg?width=2021&format=pjpg&auto=webp&s=700352bfc1ed7c171dcac37db9144e77c799302f Total position equity $10K submitted by /u/MoneyCloudOps [link] [comments]

  • Space is the next big trend after AI
    by /u/PresentationReady873 (wallstreetbets) on February 26, 2024 at 2:17 pm

    If I’m not mistaken in terms of real products (shitcoins aren’t a product son) the massive last bubbly runs we had are : EV’s AI powering chips I am talking about something that does not make any sense, the whole industry gets inflated to preposterous levels because of a general euphoria for the industry no matter how shitty their product or business model is (NIO, Rivian, SMCI etc…). And we have seen the enthusiasm surrounding $LUNR achievements this past week, the stock went from ≈$2 to ≈$11 in a few weeks ! Now imagine when we are going to land actual people onto the moon. Imagine how excited mainstream media is going to be, how excited we are all going to be here on this future easy short that we call Reddit ! Everybody will be talking about space, from your wife’s boyfriend to your friends who hate you to your alcoholic father. The astronauts will become stars like Buzz Aldrin & Neil Armstrong & whoever the third guy was back in the day. We are still a bit far from launch date but this industry is about to explode and it’s time to load the boat. SpaceX will IPO during this time as the excitement will be at an ATH and Elon Muskito nows that. What’s the next best thing ? Rocket. Fucking. Lab. I am all in $RKLB as they won’t shit the bed like $LUNR did and will one day also offer crewed missions. They are the only reliable company other than SpaceX in this space, they are the only ones flawlessly executing. $RKLB is your next ticket to the moon and it’s time to board (gosh this is lame AF but very neat too so welcome and fuck you) submitted by /u/PresentationReady873 [link] [comments]

  • Daily FI discussion thread - Monday, February 26, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on February 26, 2024 at 10:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Moronic Monday - February 26, 2024 - Your Weekly Questions Thread
    by /u/AutoModerator (Financial news and views) on February 26, 2024 at 6:02 am

    This is your safe place for questions on financial careers, homework problems and finance in general. No question in the finance domain is unwelcome. Replies are expected to be constructive and civil. Any questions about your personal finances belong in r/PersonalFinance, and career-seekers are encouraged to also visit r/FinancialCareers. submitted by /u/AutoModerator [link] [comments]

  • How do change your mindset to be comfortable with Coast FIRE, and bigger risks?
    by /u/Future_Look6983 (Financial Independence / Retire Early) on February 26, 2024 at 5:56 am

    Myself (28M) and my wife (28F) just hit 500K NW. Big fans of FIRE philosophy. We abide by the vast majority of boglehead rules- max out 401K / IRAs, invest in low cost index funds (~100% stocks), high savings rate of 50%. The main place I deviate from this philosophy is my cash holdings are huge, about 200K out of the 500k. This is mostly because 1. Interests rates are high and 2. I’m particularly risk averse, to a fault. Which leads to my question- what is your strategy for being comfortable with taking big risks? How do you decide what you can afford? How to you make the mindset transition from saving a ton to coasting? We work in tech, and it’s good money, but the stress and life style are not for us. We are both ready for a big change but not exactly sure what we want it to be. Take a year or 2 sabbatical, move to Asia for some adventure, try out van life…something big before we have kids. Another reason for the large pile of cash since we aren’t exactly sure what we may need. I’ve recently come across Coast Fire which is such a helpful mindset, but I have a hard time convincing myself we are actually there. The numbers add up…. But it’s such a different attitude than having a 50% savings rate. And I get stressed that our cushion isn’t big enough, but also not sure how big I need it to be. Looking for some strategies to help get more comfortable with change, or some key calculations folks use to feel comfortable. Thanks for the help. submitted by /u/Future_Look6983 [link] [comments]

  • Little baby milestone today.
    by /u/whereisyourtowel42 (Financial Independence / Retire Early) on February 25, 2024 at 9:26 pm

    Tallied up the accounts, $102k across retirement accounts. It's exciting! I am not including personal, emergency or house savings I also have since those accounts are reserved for things outside of retirement but after working hard the last 9 years (when I started my first real job after grad school) to pay off all debts (small credit card debt, student loans, and car loan), it feels really good to be completely debt free and have six figures in retirement today. Sometimes it feels like i am behind reading some people's posts, but I know i shouldn't and i feel proud today as someone who grow up poor with no personal finance taught to me until college when an amazing professor made it a point to offer a saturday personal finance 101 to his students...he put me on a path i may have not found for quite some time and i am thankful every day for that great man! Here's to staying focused and I look forward to lookback in another 9 years! submitted by /u/whereisyourtowel42 [link] [comments]

  • For the youngsters that won't be doing FIRE for another 20 to 30 years... what happens when we have to back away from Capitalism?
    by /u/IHadTacosYesterday (Financial Independence / Retire Early) on February 25, 2024 at 7:56 pm

    Ok, this is more of a hypothetical post of looking 20 to 30 years into the future. First off, we should all know by now that Artificial Intelligence is barreling toward us like a runaway freight train. It's only a matter of time before A.G.I. happens. Many experts in the field believe that AGI will happen in the next 5 to 15 years. Let's just assume that legitimate AGI happens 10 years from today. I'm not sure that people understand the actual ramifications of this. The exponential nature of AGI. Actually, it's probably impossible for the human mind to comprehend. I'm talking about the exponential nature of AGI. Sam Harris was talking about how a legitimate AGI could potentially do 20 years worth of normal human intellectual labor in the span of two days. It's really hard to wrap your mind around these things. Of course, it's only natural to expect that AGI will be able to solve the vast majority of our civilizational problems. The first will be free energy. If we don't have our own free energy in the next 5 to 15 years, well.... we'll certainly have it within a year after AGI. Then, consider robotics. Consider the race that's currently on to build humanoid robots for factory purposes. Tesla has their Optimus bot. Boston Dynamics has atlas. A company that Amazon owns has their own humanoid robot. Now, just imagine a legitimate AGI designing a humanoid robot to be unbelievably efficient, requiring very little power. Add on top of that, basically free energy. It's not hard to imagine an AGI developing a robot factory that has raw materials coming in on one side, with fully-functioning humanoid robots walking out the other side. (not a single human being involved in this process). What this would mean for humanity is the end of labor as we know it. AI and AGI is already guaranteed to end cognitive labor. But the Robotics/AGI/Free Energy revolution will also eliminate physical labor. It doesn't take a rocket scientist to figure out that Capitalism isn't long for such a world. You can't have 90 percent of humans doing basically nothing, and still have Capitalism as a concept actually working. So, we're headed for a post-Capitalism society. I don't personally think I will need to worry about this in my lifetime (currently 53). But, I know there's tons of 20 year olds and 30 year olds, planning on doing FIRE when they're 50. What happens to all physical assets and stores of wealth when we are forced to back away from Capitalism entirely? What I mean is, let's say that the year 2068 is when the USA decides to completely back away from Capitalism. Think of the person that was grinding hard to save a ton of money and build up their wealth a mere five years before that. Imagine how screwed this person will be? I've thought about this extensively and the only way I see out of it is some sort of "grandfather clause" for ownership of land/wealth. Even though, the wealthiest people on planet Earth won't be super interested in backing away from Capitalism, they're smart enough to see the writing on the wall. They have to know that the end game is nigh. It's like Blockbuster Video executives in the last couple of years. They have to know the game is over. Still, I think the wealthy elite will concoct some sort of grandfathering in of stores of property/wealth for a 200 year amnesty period. If this was happening today, if we were backing away from Capitalism today, then Jeff Bezos, Mark Zuckerberg and other billionaires would know that their wealth will be grandfathered for 200 years, but that once 201 years has gone by, all their property/wealth/etc, will become property of the Earth Alliance. They will agree to this, because they know that their children and their grandchildren will still have tremendous wealth to live off of. They will know that way in advance, that their great grandchildren, or great-great grandchildren, will simply just be a normal citizen of the Earth Alliance, and they will be issued a standard flying car and underground earth domicile, like the rest of the 13 billion people living on Earth and Mars at the time. Ok, I'm kind of bullshitting at the end here, but you should get the jist of the concept at this point. Is anybody thinking about this? submitted by /u/IHadTacosYesterday [link] [comments]

  • Am I too dumb with my all Target Date Fund investment strategy? If so, is there a way to illustrate that dumbness so I can understand?
    by /u/TenseBird (Financial Independence / Retire Early) on February 25, 2024 at 4:42 pm

    Young person here. Not sure if I even make enough for FIRE, but I'm at least trying. A few years ago, I learned about investing. People definitely emphasize investing heavily, but in what exactly? Too complicated I say! My thoughts were that I'll simply pick 1 safe thing for each investment account and call it a day. Hence, these were my investments: VLXVX in 401k, FFIJX in IRA, TRSJX in my HSA. That's everything. Well, it's been a few years of this, but as I read posts on Reddit, I think most people don't actually do this. So I was wondering how much money I'm really missing out on, compound interest wise and all that. But I don't really speak the stock market language, stuff like "you should have more stocks less bonds" doesn't really mean anything to me. Obviously I know what stocks and bonds are, and I know how much I have allocated into each, but I don't know how my actual number tied to my net worth gets affected by all of this. I willl attempt to present a very simple hypothetical scenario that maybe you can give your insights on: Let's say that there are two people, named John and Jane. They save $10,000 per year. Their goal is to (safely) get $1,000,000 as soon as possible by investing. John uses exactly my strategy, with 100% of his money dumped into some target date fund. Let's say VLXVX for simplicity. Jane uses...some other strategy. I don't know. Maybe the one people on this sub typically use. The question: Roughly, how many years will Jane reach the $1,000,000 goal before John does? Though maybe, there's no way to get an answer for this scenario, because it might be a coin flip on whether John or Jane reaches the goal first, simply because Jane went for a riskier strategy...or is that wrong? Hopefully I got my point across. To summarize, maybe going all-in on Target Date Funds aren't that good of an idea, but...by how much? I'm not really looking for "what do I invest in", I just wish to deepen my understanding by looking at how the raw number projections end up looking, which is what I don't get. Or maybe nobody knows, and we're all just winging it. Thanks for reading, if you did. Edit: Thanks for the answers! I guess the gist of it is that what I'm doing is mostly fine, though I could do with some small optimizations especially on TRSJX with its high ER. What would matter more is optimizing my expenses and working on climbing the corporate ladder to focus on pumping even more money into these accounts. To learn more I'll look into more resources using hints that everyone here gave me. submitted by /u/TenseBird [link] [comments]

  • Thinking about it but not really planning?
    by /u/theBacillus (Financial Independence / Retire Early) on February 25, 2024 at 3:42 pm

    Just turned 50M, wife and 2 teenagers. I'm trying to figure out how my financial future is going to look like. I like saving, for the wife it's harder, but working on it. 401k maxed for both, currently about 1.5Mill combined. 90% in tech fund, I highly believe in tech and willing to risk it. About 150K in crypto, i don't plan on touching it for a long time maybe even just leave it to the kids as generational wealth if it turns out to be that. 280K in self managed IRA. Cars paid off, house paid off (about 650K) Bought recreational land in 2021, worth about 800K-1Mill, owe 450K on it at 5%. I'm building a cabin on it this year, about 150k, using company stock. That will increase the property value and might* be lightly used for vacation rental. Not sure I want strangers wreaking it. Wife company stock 200k, half vested My company stock 150k vesting. I get about 70k new rsu every year. Paycheck about 350k combined including bonuses but not the stock. Most gets spent after ira, taxes, mortgage, vacation, etc. 1k goes into crypto, 2k into vacation funds monthly. I started all this in 2012 that was twelve years ago. I had 30k in the IrRA at that point and no other savings. 401k and the market did well for me can't complain. I'm thinking if in the next 12 years I have until 62, if I can grow the holdings by another 1.5Mill they we should be okay. Take out 100k every year that will last 30 years. Probably switch to dividends at that point. I have no idea what I'm doing just kind of trying squirelling away. Your advice is appreciated. Thanks! submitted by /u/theBacillus [link] [comments]

  • 23M just hit $100k NW milestone
    by /u/squid-squad-pod (Financial Independence / Retire Early) on February 25, 2024 at 2:56 pm

    Wanted to share with someone other than my wife so thought I would do it here. I had set out to achieve this goal before my 24th birthday (a few months from now) and just hit it yesterday. I say NW but I really mean total financial assets since I’m only counting what’s in my accounts (not including my car value or some other investments I have in physical items). Some context: wife and I both grew up on the poorer side in the SF bay area. We paid our own ways through college and graduated summer of 2022 (first in my family to go to college) with no debt and a few thousand dollars saved. We were able to achieve the 100k NW milestone on my compensation alone while supporting my wife (a SAHM) and our 1 year old. I’m very proud of how far we have come from where we began and look forward to seeing how far we can make it. Side note: we are still in the bay area and have been living pretty comfortably (subjective I know). Just saying it’s not as impossible as some people make it seem. submitted by /u/squid-squad-pod [link] [comments]

  • Daily FI discussion thread - Sunday, February 25, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on February 25, 2024 at 10:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • What are ways you have invested in your home that have yielded the highest annual ROI?
    by /u/DPSnacks (Financial Independence / Retire Early) on February 25, 2024 at 12:50 am

    Stole this from /r/investing. OP over there had some great suggestions; I'm a newish homeowner and would like to see what this crowd has in mind since I think the more specific focus of this community may provide different answers. Thanks! edit: someone recommend that I clarify I'm not talking about new flooring or anything like that to increase the sale/rental value of my home in X years - I'm looking for annual return on investments in my primary home that my family lives in with no tenants. Edit 2: the word annual hid from a lot of people overnight 🙁 submitted by /u/DPSnacks [link] [comments]

  • What is a good gift for someone who just crossed a financial milestone?
    by /u/QuestioningYoungling (Financial Independence / Retire Early) on February 24, 2024 at 11:27 pm

    I got a call from my younger brother this morning that he officially crossed 100k in total investments yesterday. I am very proud that he is seeing the benefits of investing and that he is so excited to share this milestone with me. Admittedly, he has been pretty on the ball financially since he was a teenager and he had a fullride scholarship to college, so there is no epic comeback story here. That said, I believe it still takes work ethic, responsible decision-making, and dedication from a young age to get to 100k before 25, which makes it an achievement worth celebrating. It also is a great first step on the FI Journey. I'm trying to figure out a good gift to give him to commemorate this achievement and am wondering if you all have any ideas. submitted by /u/QuestioningYoungling [link] [comments]

  • Need an Outside Opinion
    by /u/Secure-Zucchini342 (Financial Independence / Retire Early) on February 24, 2024 at 6:34 pm

    Hey Redditors Throwaway account cuz I'm paranoid, I guess. I read so many posts in various FI and Personal Finance threads that I start to question where I'm at. Sometimes I think we're doing pretty well, and then I see so many posts by others much younger with such inflated incomes and so much more net worth that I start to question my position on this journey. I realize that the subsets of our population that are interested in finance and investing skews the numbers, and this becomes most evident especially when you read where the average American family is, but still. Ok, here goes... Me (51M), and wife (50F) 2 kids, 16 & 14. Soon to be 17 & 15 Zero debt Live in a MCOL area in the US Home is completely paid off and is worth about $425,000 Vehicles are newer and paid off. Always buy 1-2 years old and pay cash My 401k is at $1.133M. It's about 80% total market and 20% international. Expenses are extremely low. It's split about 70% traditional and 30% Roth. I currently have 20% (about $400) per week going into traditional. Company contributes another $15k or so annually. Wife has a 403b that's at $150K. Expenses are higher and I don't love the options, but it's split among the 4 best funds that were available. She's contributing $250 per paycheck which is $6500 annually. We both have about $25k each in Roth IRAs. Maxing these out currently. $250K in taxable brokerage account. Of that, $110k is in a money market fund as our high yield savings for emergency funds, savings, etc.. The rest is in VTSAX. Have $50k in 529 accounts set aside for kids' education, however they may not ever need this. Don't want to go into details here, but college expenses are completely covered from other sources. It's an amazing gift, and I'm thankful for that. Takeaway is that I stopped contributing to the 529s. Kids are good students and will definitely attend good universities. Have approximately $20k cash in other various bank savings/checking accounts Our combined AGI last year was $177k. It varies a little each year based on my pay fluctuations with bonuses, etc. but that's about normal My wife will receive a pension when she retires. The final calculation will depend on her highest paid 3 years, which will end up being her last 3 years. While it could end up being slightly more, I estimate it to be around $40k per year from the pension. She's eligible to collect it now, but plans to keep working at least for 3 more years before retiring and collecting on that. Even then, she can collect the pension and change jobs to something else if she doesn't want to completely stop working, but she's burned out from her current career. Healthcare - everyone's (in the US anyway) ire. We're fortunate that we will have very affordable healthcare coverage from wife's retirement. This will bridge the gap until medicare. Our household expenses have grown over the last few years with inflation and the kids getting older and having more expensive interests and needs. We're spending on average around $75k annually.I have auto contributions setup on several accounts, but we have been trying to stock pile cash for home repair projects. It varies by the month, but we usually save $2k into a general misc fund, $1k for future vehicle purchase, and some other misc. savings funds. A little more background. I grew up with very little and from a broken home. Wife came from middle class family. The older I get the more stressed out about money I am, I suppose because it feels like I have more to lose now than when younger. Spending money really stresses me out. We're on the cusp of a home remodel project that's going to end up costing us around $40k total. We've saved and ear-marked money for it, but that doesn't make it any less stressful for me. I'm burned out at work and just want my freedom at this point. My short term goal is to stay at my current job for 3 more years until I hit 55 and can retire early using the rule of 55. Some days I'm not sure I can do 3 more years, but I'd really like that safety net. My wife is also targeting her retirement for the same year, although she may find a completely different type of work while collecting her pension. Not sure yet. With a planned 3.5% SWR, I know the math works out okay when added to her pension, but it still feels tight or that I'm overlooking something. I'm no tax expert and I've mostly just focused on the savings and earning side of things until now. I never factor Soc Security into my calculations or any inheritance, but the reality is that there will probably be some form of soc security income for us down the road, even if reduced from today. And, while I've never counted on it or included it, there will very likely be some amount of inheritance income as her parents have multi millions and have a trust setup to provide monthly disbursements after their death. I view that as a bonus if it happens, but it could 20+ years in the future, too. I may not live to ever see any of that. One of the things that worries me is that other than liquid cash on hand in the bank, the money in investments just doesn't seem real or tangible. I've watched it rise and fall on a whim over the years with huge swings, and I just fear that it could be wiped out at the drop of a hat with market volatility. It feels like the US is at a crossroads with so much political unrest, AI uncertainty, workforce and labor shortages, funding global wars, etc.. Maybe all generations feel this way at any point in time, but it just seems like the future may be uncertain and unstable. And yet, I try to remain optimistic that the markets will charge ahead and produce income for us. If they don't, I certainly won't be the only one who's screwed. Thoughts? Am I on target to be able to walk away from my job in 3 years or am I dreaming? submitted by /u/Secure-Zucchini342 [link] [comments]

  • Warren Buffett admits Berkshire’s days of ‘eye-popping’ gains are over
    by /u/Steven_on_the_run (Financial news and views) on February 24, 2024 at 6:20 pm

    submitted by /u/Steven_on_the_run [link] [comments]

  • Daily FI discussion thread - Saturday, February 24, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on February 24, 2024 at 10:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Hey, another million! $0 to $4M in 31 years
    by /u/EquativeFib (Financial Independence / Retire Early) on February 23, 2024 at 8:47 pm

    I know y'all like status updates (I do, too!). My first post was six years ago when I passed $2M in savings. Now at $4M. Still in the Coasting phase, but pretty much can go fuck myself whenever I want. Short version of FiRe journey: worker bee got fed up with bullshit, started my own company 25 years ago. It was really hard, but worked out in the end. Long version is in a comment from six years ago. Savings growth: $1M took twenty years from $0 net worth. $2M took five years $3M took three years $4M took three years - just hit it last week! The post-Covid recession was a punch in the stomach. Savings (vast majority is Index Funds) dropped from $3.8M to $2.6M very quickly -- losing over a million dollars had me in knots. I'd been through recessions before, but never at this level. Fortunately, I kept my wits, did not sell, and continued to contribute every month to our 401k plans. 'Twas but a blip! Some key points - because FiRe can be more of a journey than a destination: Spouse and I have both been working part time since 2011. Coast-fire has been the best financial decision and certainly good for our mental health. In my last update ($3M), we still had kids in college. Our youngest is just finishing up his last semester in 2024. The 529 plans that we started when they were babies did not quite cover all 8 years of tuition, but it was pretty close. The 529 was amazing to have when we needed it. The growth was tax-free and our investments almost tripled our money by then time we needed to spend it. It was like getting a 60-70% discount on college tuition. Highly recommend. Our earned income is now under $100k/year - as planned, my consulting business continues to decline due to attrition. I very seldom will take a new client -- it has to be a perfect fit or I pass. Mortgage was paid off last year. We take the standard deduction now on our income taxes, which feels weird but makes tax season pretty straightforward. Net worth is technically over $5M because of home equity. Even though earned income is now low, I still continue to contribute to my business Solo 401K plan and max out our Roth IRA every year. The tax advantages are too good to pass up. Annual spend is still close to $100k/yr. That means I now take money out of our taxable investment account for some expenses and to fund the Roth IRAs. A 1% SWR is sustainable, yes? Health care coverage is a weird one. My wife's part-time job fortunately covers us for now with an excellent benefit. And she likes the job. But if she leaves or retires we're going to have to figure out what to do in the years before Medicare can kick in. What do we spend it on? We take awesome vacations. And we still live well beneath our means (in that spending is below earned income -- the 1% SWR is just a way to shift money from taxable to advantaged accounts while we're still working). Staying in the same house for 25+ years has made living expenses low, even in a HCOL city. We have hobbies. We have some small volunteer gigs. Anyway, just another example of FiRe working in the long run despite recessions and other hurdles. Living beneath your means and investing the difference in index funds really does work. Yes, the first million is the hardest! And really, I'd say it's just the first $100k that's the hardest. By then you've got the process down and it's just a matter of staying the course. See you at $5M -- I predict < 2 years if the market doesn't crash again. submitted by /u/EquativeFib [link] [comments]

  • Private Market Funds for HNW individuals could crowd out Co-Investment Opportunities
    by /u/Alexkono (Financial news and views) on February 23, 2024 at 7:05 pm

    submitted by /u/Alexkono [link] [comments]

  • FT Alphaville: Giant shorts around the globe
    by /u/wreckingcru (Financial news and views) on February 23, 2024 at 7:05 pm

    submitted by /u/wreckingcru [link] [comments]

  • The personality of FIRE vs the math. A small case study.
    by /u/Confident_Ear4396 (Financial Independence / Retire Early) on February 23, 2024 at 6:13 pm

    I FIRED from a local public service at age 42 a couple years ago. I basically faded away starting with early COVID. Mostly through cash flowing real estate, but with a decent pension as a backstop. I climbed the ladder fast in my department so my peers were all Much much older. I watched a few retire and have seen a few retire after me. I ran into one today in the grocery store. He was pension qualified 20 years ago, before I even started and I asked how retirement was. He is going back to work this summer as a part time laborer. He will make what amounts to local fast food wages. 5 days a week, 6am-10:30am. He will water hanging flower baskets downtown with a special backpack rig. Another peer in a similar position comes back every summer to run a piece of equipment in a crew he uses to supervise. He works 6-2 5 days a week may-September. Most retirees from my department come back to work at least seasonally within a year. I can only think of one that fully severed and stayed there. None of these guys needs the money. I know their basic financial situation. They have medical, full pensions, SS and often side hustle. They houses are paid for, their cars are paid for. Their kids are long gone. We are in a low cost area and their hobbies include incredibly cheap things like trout fishing, watching basketball, going to college games and TV. I feel like most FIRE people are out there to stop working to do things they really want to do. Apparently the thing these guys want to do is to continue working at a lower level to avoid spending too much time with their wives. My schedule is absolutely packed. I’m gone at least one week per month and the summer is non stop activities. I cannot imagine getting up 5 days a week to go work, even if the job is easy. That obligation would hang over me when my daughter asked to go kayaking or my significant other wanted to head to the beach. They seem happy/happyish. I don’t mean to sound completely judgemental if they are happy. I just find it fascinating that after a 40 year career they are left so intertwined with work they can’t let it go. Full disclosure: I’m still on payroll too, sorta. I go in about six days a year to do technical work no one else is qualified for. The schedule is set a year in advance. I am currently training myself out of the role. I should be out by August. Me replacement likes to keep me on payroll because sometimes disasters happen and I don’t answer the phone for free. It is more of a consultant role to keep a pet project alive. So yeah, hypocrite I guess. submitted by /u/Confident_Ear4396 [link] [comments]

  • Husband Who Eavesdropped on Wife’s Work Calls Pleads Guilty to Insider Trading
    by /u/Majano57 (Financial news and views) on February 23, 2024 at 6:08 pm

    submitted by /u/Majano57 [link] [comments]

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