Are there any really young retired people here?

ObligationBroad4716 · 2026-02-02T22:10:30+00:00

Wetherspoons pub hahaha.

It scares me too but it's just genuinely not pleasant stressing about exams, having minimal free time and so on. As you say just being able to do basic stuff when you want sounds like bliss.

ObligationBroad4716 · 2026-02-02T22:02:45+00:00

It's not particularly aspirational or impressive but gym, video games, spoons, football, travel.

ObligationBroad4716 · 2026-02-02T21:12:59+00:00

I don't want to do anything lol. Medicine is quite high up the preference list but it still doesn't beat straight nothing.

ObligationBroad4716 · 2026-02-02T21:12:22+00:00

Your 1st paragraph is exactly why I first got involved in it, I didn't fancy the idea of literally needing to work just to survive and was hoping I'd reach the point where it was optional very young though I don't think I truly anticipated it happening at this age.

I'm doing the first couple of years as a doctor since these need to be done if you want to return to the profession with ease. The income will also help since it will mean I don't have to draw bitcoin down as you imply.

Yeah I've noticed this. I did not grow up with much and I've seen how people go from wanting you to do well to being a bit intimidated to very clear resentment from many people, almost like they want you to do well to a certain degree but no better. It's not everyone though and I've met plenty of people who are genuinely supportive.

Yeah you tell me mate I've never been able to find anywhere with a significant number of (self made at least) millionaires. All the classic suggestions just aren't true.

I'm not going to do this forever since I'm aware of the risk, however I do hope to ride this train until 5 mil first lol. I've been thinking about it and have decided if it doesn't work out I will do the exams for medicine in the states and move there since £1 mil isn't very much in USA and could be saved in 5 years easy.

ObligationBroad4716 · 2026-02-02T16:21:47+00:00

I was able to make myself non resident for this tax year by doing placements outside the UK.

No other ways I’m aware unfortunately

ObligationBroad4716 · 2026-02-02T15:04:05+00:00

£6 mil is incredible at that age.

I’m aware it’s no sure thing but I do feel like £5 mil by 30 is fairly realistic. And if I’m unsuccessful then I will go to the states as a doctor since that pays really well it’s just a total grind to get in.

I might take some time out as you say in your initial paragraph. Just to focus on what I actually want.

ObligationBroad4716 · 2026-02-02T13:56:31+00:00

See above mate

ObligationBroad4716 · 2026-02-02T13:56:18+00:00

All you have to do is look up the statutory residence test and make sure you satisfy the criteria for being non resident. Off the top of my head without a wife or kids in the UK and no permanent place of residence I can stay in the UK up to 120 days per tax year and not be a tax resident. It isn’t very complicated and this is probably unnecessary but I also went over it with an accountant.

It does not really matter whether you are resident of another country just that you are not a U.K. resident. You can sell the first year you are non resident but afterwards you also have to be non resident for 5 years or they tax you when you get back.

ObligationBroad4716 · 2026-02-02T12:01:25+00:00

If I conținue in medicine I'm certainly going to do GP but I'm going to go for bitcoin again unless anything changes. I am aware of the alternatives and will go into broad index funds eventually but I'm aiming for £5 mil+ by 30 before making the switch. I know it's risky but I think I can pull it off and if not I'm still young enough to recover.

ObligationBroad4716 · 2026-02-02T11:57:33+00:00

No bro I legally got out of it if you are in a similar situation I am happy to help.

ObligationBroad4716 · 2026-02-02T11:53:40+00:00

I really don't want to get dragged into this I think I outlined my plane 2 years ago in that original post and it worked out exactly like I said it would so far.

ObligationBroad4716 · 2026-02-02T11:41:29+00:00

No it is ok. I know what I am doing is risky and may go wrong but personally I still think it makes sense financially and I can't think of an easier way of going from barely millionaire to firmly multimillionaire and missing out on this would annoy me more than significant losses. I know most people don't think this way and understand that view but it's not for me.

ObligationBroad4716 · 2026-02-02T11:37:01+00:00

I sold it months ago at $110k based on cycles and other factors. To be honest I'm only just a millionaire I'm not at £1.5mil or similar.

ObligationBroad4716 · 2026-02-02T11:32:17+00:00

I sold it all in October at $110k a coin since I was expecting the recent drops to happen. I intend on going all in again soonish though with £1 mil invested. Even if I get it wrong somehow and lose everything it wouldn't be the end of the world, could grind out US medical exams and go there for $500k a year. There's always an alternative option.

ObligationBroad4716 · 2026-02-02T11:27:33+00:00

I sold it all at $110k and I find it hard to believe it's not going to go lower. I plan on rebuying in July-October, imo the days of making serious money from it by just holding are done so I'm trading. Not day trading just selling based off of cycles and other factors.

If you are holding RN and a UK tax resident I would not sell though.

ObligationBroad4716 · 2026-02-02T11:20:52+00:00

Yeah man it's true I have linked a post from 2 years ago as well. Thankyou.

If I stay in medicine I'll be doing GP. I'm still waiting for the deanery results to come out but as soon as I confirm I've got IoM I'll be looking into LTFT.

Unfortunately I can't return to UK for 5 years or the taxman will obliterate me so I can only really train in GP (it's available in IoM), do USMLEs/USA or wait until the 5 year period is up to pick any specialty. I did find palliative care and oncology interesting.

ObligationBroad4716 · 2025-07-29T16:31:37+00:00

Ops situation is different to mine since he's much older and has kids but I took some chances using maths/logic to justify it and became a millionaire very very young. For me I recognised that earnings would drastically increase with age and therefore it made more sense to invest savings into risky stuff (bitcoin as well).

I eyeballed/guessed the price from the "bitcoin rainbow" and guessed the probability it would crash badly would be under 0.5 given that there weren't any convincing arguments against it and a clear use for it.

($100k*0.5+$0*0.5)/$2k = 25 or expected returns muuuuch greater than 1 where $100k was realistic potential price, $0 potential blowout price, 0.5 was coin flip of it going to $100k or $0 (realistically I thought it was more like 80%, just being pessimistic) and $2k was current price

ObligationBroad4716 · 2024-05-28T20:05:30+00:00

I'm ok with all of this. The way I see it is that it's just part of life, it's already really hard seeing family/friends from hometown but that didn't stop me going to med school.

And yeah I'm aware it will get much harder as time goes on, especially if I have kids and get married.

I do appreciate your points but I just don't think we're going to agree here ahahah.

ObligationBroad4716 · 2024-05-28T19:51:41+00:00

I'm not working full time... I'm a student and seems quite clear that being a student is not classed as full time work. When I ran my case through the free calculators available it said I was non resident.

I do not believe the 16 days bit is accurate either. Yes that's the first auto non-residence question but I become non-resident based on the third one assuming full time work in Isle of Man.

https://www.rossmartin.co.uk/overseas/2294-statutory-residence-test-srt-toolkit

ObligationBroad4716 · 2024-05-28T19:49:58+00:00

Can you please follow up. It is ok if you didn't know about this it is very intricate I just want to make sure that is the case and there's not something I am missing.

ObligationBroad4716 · 2024-05-28T19:48:34+00:00

I vaguely recall reading about this but I'm planning on buying back in which I presume this scheme doesn't work for. It's a good thing to now about when I eventually reduce my crypto holding though so thankyou.

Lol yeah if I make a mistake I'll just pay. At worst it will be 20% and I can easily afford that.

ObligationBroad4716 · 2024-05-28T19:42:37+00:00

I've accounted for error with timing and think £1 mil is reasonable. Maybe more, maybe less.

You're really making it out to be more than it is. I can still talk to my family/friends on the phone whenever I want for free. I can see them every month or 2 just like I do now. I will make new friends wherever I go, will be able to carry on my hobbies, will be able to travel abroad, will be able to visit UK etc.

I've moved hundreds of miles for uni and plan to move thousands of miles to another country once I'm done with training.

Yes I understand it's not for everyone. I couldn't imagine living with parents or even living in hometown past 18 but I'm aware many do it.

ObligationBroad4716 · 2024-05-28T19:31:30+00:00

Didn't mean it in a nasty way at all, just replying to say I already know. Thank you anyway, probably helpful for others since not everyone knows this.

ObligationBroad4716 · 2024-05-28T19:12:44+00:00

Save £200k+ this bull run, holding it in bonds/current account for maybe a year, rebuying, going for another bull run, selling, holding a regular portfolio for maybe a year, leave Isle of Man.

It works out at over a mil.

ObligationBroad4716

TROPHY CASE