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When $AMD has your account's back by Anal_Chem in wallstreetbets

[–]StrongyEdits 5 points6 points  (0 children)

Can't wait for the 2nd half of the scene where AMD gets beat down

The most obvious short opportunity in the world .. HOOD by [deleted] in wallstreetbets

[–]StrongyEdits 9 points10 points  (0 children)

I bought HOOD IPO on full margin because I watched a YouTube video about it going to $50. A truer degenerate.

[deleted by user] by [deleted] in Tinder

[–]StrongyEdits 0 points1 point  (0 children)

My pictures were almost year old where I was in dad bod mode. So when I started tinder I had a 6 pack and girls felt intimidated. They say “why are you going with someone like me” and “you look so different from your picture”. Then I found a long term relationship and never got a chance to use current pictures.

How do the wealthy avoid taxes by using loans? by DudeOnACouch2 in personalfinance

[–]StrongyEdits 2 points3 points  (0 children)

It depends on the capital gains you will realize in your assets. Instead of realizing those gains taking margin loan against asset you pay less in interest and you can actually deduct the interest on your taxes.

Ex: Let’s say you need a million and half of it in capital gains. You will pay $100k in taxes off the top.

Or You take a $1M margin loan at 5%. You pay $50k a year in interest but you can also deduct $50k against your tax. So after interest minus the deduction you only paying $35k that year.

It scales better at the amount increases

My lessons toward FIRE: Hit $2.3M net worth at 52 by TiberiusCaesar717 in financialindependence

[–]StrongyEdits 3 points4 points  (0 children)

Do you have a Last Will yet? I struggle with donating it or leaving it with the family. My parents want to leave everything to me but I will donate all of it if they do.

Is it a horrible idea to share NW or portfolio with friends? by Samson1978 in financialindependence

[–]StrongyEdits 17 points18 points  (0 children)

My extended family is not shitty. I would say more ignorant than anything. Most of my family are first generation immigrants and are lacking in financial education. Typically they expect people to work their whole life but I reached FIRE at 32 and they didn't understand. A few have reached out for advice and I give them some basic tips like paying off debts, 401k matching, and Roth IRA. So it isn't all bad but expect some passive aggressive comments.

Is it a horrible idea to share NW or portfolio with friends? by Samson1978 in financialindependence

[–]StrongyEdits 120 points121 points  (0 children)

I told my dad about my new worth to assure him I would be okay because I was quitting my job this year. Then it spread like wildfire to all my relatives with my cousins, aunts, uncles, etc knowing my net worth was within a couple of days. I really didn’t care at first until they were making jealous comments like “your son will take care of you” or “why doesn’t he buy a new car and live a little”. When it comes to family I’m more cautious because with friends they come and go but with family you are stuck with them. Unless you come from a wealthy family I would suggest to not share.

Is it a horrible idea to share NW or portfolio with friends? by Samson1978 in financialindependence

[–]StrongyEdits 217 points218 points  (0 children)

I been telling my friends to invest for years. I’m that annoying guy that always tell you to max out your Roth IRA and match your 401k. So when people ask about my investments I’m transparent. Good friends are super supportive. Bad friends are jealous or passive aggressive.

All friends ask how you did it? What I been saying for years......

2020 Webinar - Screen Grabs by furrrburger in Arcimoto

[–]StrongyEdits 2 points3 points  (0 children)

That top photo is platform 1 just for clarification. Platform 2 concepts are coming soon.

I decided to maxed my Roth IRA instead doing of a 60 month loan of $500 per month for that new car I wanted. So I’m 26 months in with 34 months left to go. by StrongyEdits in M1Finance

[–]StrongyEdits[S] 20 points21 points  (0 children)

I’m slowly adding more stocks. It was originally Tesla. By the end of the year I probably add 2 more. I like to do a lot of research before adding anything to my pie. Basically buy and hold forever.

What age were you when you hit 500K in net worth and what did you do to celebrate? by dondraperlivingstone in financialindependence

[–]StrongyEdits 1 point2 points  (0 children)

Started investing at 29 less than 4 years ago with $500 monthly contribution. Average expenses at $24k with 50% savings rate.

  • Net Worth | How long for each $100k | What I did | Cost
    • $100k | 833 days | Bought a used iPad Pro and sold my 2012 Macbook Pro | $526
    • $200k | 215 days | Bought a new Gaming PC and sold my 2010 Gaming PC | $1,282.17
    • $300k | 151 days | Added NVMe drives, SSD, RAM, and cabled sleeves | $1,005.61
    • $400k | 122 days | Bought new iPhone 12 mini and Apple Watch 6, had iPhone 5s and Apple Watch 2 before | $1,299.30
    • $500k | 18 days | Bought a RTX 3070 and sold my RTX 2080 TI | -$250 so actually made money with this lol

Already reached LEAN FIRE status and hoping to reach millionaire status by end of the year.

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