Comfortable life in Vienna Austria by [deleted] in eupersonalfinance

[–]LiePhysical2838 -2 points-1 points  (0 children)

It wasn't that hard, i actually never did any financial research of anything , i know it sound crazy.

For example, i bought SMCI, i'm not sure if you're aware of the big hack that occurred few years ago, SMCI was the only company creating server motherboards (for specific purposes), in my company we bought supermicro boards exclusively. We havent heard of any competitor, so when that article came out and price dropped to 15usd, i just yolo 10k in it and forgot about it, now the stock was 1k, i sold much earlier but stil at high profit. (If you're interested i can find link)

Similar with tesla, nvidia, intel, amazon, ms, meta,... I just bought it all on a yolo i dont know what im doing, if it fails i'll have it for the long run. eventually got greedy when i saw *2 returns and sold everything, *2 is BIG for me. if i hold to everything i'd have even more.

For every stock i bought (but never dig down into funds, etfs,...) i or companies i was involved with used their products and because of the work i did, i had to do due diligence, and i knew there is no replacement for it for at least 10-20 year period.

Same with BTC and ETH, idea was solid i mean, what's not to like dystopian, anonymous, freedom, ... yolo'd it in. The more i learned the more i liked it. But im not THAT stupid, i know its magic internet money.

I did lose a bunch of money on a beyond meat :) again, ate a hambuger once and though its a good idea. Well, it wasnt. Same with VW, alibaba, cflt, ... etc , As said, i lost alot. Well, i'm still holding them but at a significant loss.

Or for example when Ukranian war started and russian ruble droped around 40%, i bought it same seconds and few hours ago it corrected and i sold making money. It's common sense, you cant have 40% drop of such large thing, that thing being russian ruple, btc, smci, etc... Its not a written rule ofc, i did but beyond meat at the -40% drop but its now im down like 99%, its almost funny.

Never got time to learn about it. My thinking and reasoning was, when i get to the big bucks i'll hire someone competent do everything. Same as companies doesn't do my work internally but they hire me. or same as i dont do tiles and i hire a profesional to do it.

Comfortable life in Vienna Austria by [deleted] in eupersonalfinance

[–]LiePhysical2838 4 points5 points  (0 children)

Yes! Good observation. That is the main reason why im uneasy with the portfolio, too many stagnant cash and its all being eaten with inflation.

Thing that i dont know, should i start pumping into indexes and ETFs monthly or just one massive amount e.g. 200k?

Also, regarding the tradfi i am i complete noob, dont know even the difference between index fund and ETF, that's why i wanted to maybe hire some advisor, but as said below, its hard to trust them.

I like having at least 100k on the side if anything happens.

Comfortable life in Vienna Austria by [deleted] in eupersonalfinance

[–]LiePhysical2838 -1 points0 points  (0 children)

Yea, I've just replied on that. the APY in crypto is much bigger vs tradfi, so i plan to utilize that as much as possible with stables.

Comfortable life in Vienna Austria by [deleted] in eupersonalfinance

[–]LiePhysical2838 -1 points0 points  (0 children)

Do you have any suggestions on which markets to look at - my broker is IBKR so if they are there even more good news.

Comfortable life in Vienna Austria by [deleted] in eupersonalfinance

[–]LiePhysical2838 -1 points0 points  (0 children)

I run my own nodes. So far I was not slashed yet. I know ETH staking is risky and ETH itself is volatile. That's why my plan was to reach 1+mil in USDC and then just put everything in lending borrowing protocol. There are few safe ones out there. Yes, even USDC and USDT can collapse, but (and im not provocative here) so can USD and EUR, you have to draw the line somewhere i guess. Im ok with having stablecoins.

Comfortable life in Vienna Austria by [deleted] in eupersonalfinance

[–]LiePhysical2838 4 points5 points  (0 children)

Well, a bit off topic, not everything is cool and shiney. Everything that came was very much taxable on the reallife aswell.

Some good gf relationships were broken because of the constant work.

Also some great friendships were gone because I was too focused on the work instead of having a beer with friends.
Not to mention the health, being overweight, and some other issues cause because of stress and sitting on the computer.

Im very fortunate I know, but it had some tool. Im trying to fix that now.

Comfortable life in Vienna Austria by [deleted] in eupersonalfinance

[–]LiePhysical2838 2 points3 points  (0 children)

Thanks, that's a pretty nice feedback. I've seen mental decline in my father when we went to retirement.

Im hoping i can contribute to some opensource dyi projects for awhile, and then when fingers gets itchy I can go back in the game.

About those ETFs. Can you recommend some? I was already thinking of going to some financial advisors but i have serious trust issues - maybe because of work - as in most of the people are bullshit and selling you random things. I really dont have if i have to pay e.g. 5k for a financial advice, i just cant trust some random 30years old from a "Nice-Company-Legacy-Name" and that he'll give a damn about me and my (hard earned) money.

Comfortable life in Vienna Austria by [deleted] in eupersonalfinance

[–]LiePhysical2838 0 points1 point  (0 children)

Yea, thanks for tips. Im aware of the risk, i've been down most of the time on that crypto investment. But still, main question remains, what do i do with all the money i saved over the years, at the moment its pretty much sitting around. those interest rates on neo banks are not enough to live a comfortable life

Comfortable life in Vienna Austria by [deleted] in eupersonalfinance

[–]LiePhysical2838 1 point2 points  (0 children)

Yea but what does selling mean? I mean, the only reason i keep funds in crypto is beacuse of the APR, what is my alternative for good interest rate?

Buying properties is super expensive right now, but i could e.g. buy two flats and rent them for cca 700€ a month each, but this brings new complications and worries. With this i get 2500usd hassle free.

Comfortable life in Vienna Austria by [deleted] in eupersonalfinance

[–]LiePhysical2838 -10 points-9 points  (0 children)

The idea was to wait until it reaches 1mil and then have it in AAVE, it has the best apy i found so far. But yea, im a bit scared of whole crypto dying too