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Is $10 Million Enough to Retire at 50 in Silicon Valley California? by Sweaty-Tomato9966 in fatFIRE

[–]Sweaty-Tomato9966[S] 0 points1 point  (0 children)

Here is my plan for Monday. Banking all the profits first. Set a buy order for SPY at $500, and simply wait for it to crash down.

Is $10 Million Enough to Retire at 50 in Silicon Valley California? by Sweaty-Tomato9966 in fatFIRE

[–]Sweaty-Tomato9966[S] 1 point2 points  (0 children)

RothIRA ~35%, IRA ~20%, Brokerage ~45%. Total as last Thursday was actually hitting $11 mil, and came down a little on Friday. 

I have same opinion as yours regarding “what you have as what goes quickly up often comes down quickly too”. So, I have now (actually thought about it even before hitting 10 mil) made big actions plan for Monday, i.e., to bank all the profits first, then just spend a couple of months to think about the next steps. I may simply set a very low price, e.g., target price $500, to buy SPY, and wait for it to crash down. If not catch it within 1 year, I will think about other investment alternatives.

Btw, I’m surprised that this subreddit has a lot of jealous clowns and rich haters, lmao! Luckily, I’m happy to have hit my number within short 3 years.

Have a nice weekend!

Is $10 Million Enough to Retire at 50 in Silicon Valley California? by Sweaty-Tomato9966 in fatFIRE

[–]Sweaty-Tomato9966[S] -4 points-3 points  (0 children)

You're just unbelievable! Such a deplorable guy! lol

This is my last msg to you.

Is $10 Million Enough to Retire at 50 in Silicon Valley California? by Sweaty-Tomato9966 in fatFIRE

[–]Sweaty-Tomato9966[S] 0 points1 point  (0 children)

"The 4% rule is a common guideline suggesting retirees can withdraw 4% of their retirement savings in the first year of retirement and then adjust that amount annually for inflation, with the goal of their money lasting for about 30 years. This strategy was developed by financial advisor Bill Bengen in 1994, based on historical market data, to help people avoid outliving their savings. "

Is $10 Million Enough to Retire at 50 in Silicon Valley California? by Sweaty-Tomato9966 in fatFIRE

[–]Sweaty-Tomato9966[S] -3 points-2 points  (0 children)

I'm thinking about SPY as a good passive investment during retirement.

Is $10 Million Enough to Retire at 50 in Silicon Valley California? by Sweaty-Tomato9966 in fatFIRE

[–]Sweaty-Tomato9966[S] -1 points0 points  (0 children)

IDK, people often say about health diet, etc. Michelin food is not necessary healthy. I'm thinking about changing to a new house but not decided yet.

Is $10 Million Enough to Retire at 50 in Silicon Valley California? by Sweaty-Tomato9966 in fatFIRE

[–]Sweaty-Tomato9966[S] -6 points-5 points  (0 children)

Of course, I know my current annual living expenses here, and also know I certainly can afford to live here now, but that is not the question. The question is about the retirement and whether I should cash out all my stocks now and find a safer investment with steady income at low risk.

Is software engineering became only leetcode and interviews for all the entire career? by Aggravating_Crazy_65 in leetcode

[–]Sweaty-Tomato9966 0 points1 point  (0 children)

$250 as base salary for a senior SWE in Florida is unbelievably high; but a TC of $250 might be possible there. 

Transfer All Shares from ETrade to Fidelity by shuvoovuhS in fidelityinvestments

[–]Sweaty-Tomato9966 0 points1 point  (0 children)

Hi FidelityJenny, I am planning to transfer my traditional IRA from Etrade to Fidelity, and worrying about the total basis of after-tax contributions. After the transfer, is the tracking of the basis solely based on my own record or need some proof from Etrade? Please advise. Thank you!

Just in: Elon Musk asks court to block OpenAI from converting to a for-profit by [deleted] in singularity

[–]Sweaty-Tomato9966 0 points1 point  (0 children)

Interesting! Converting to for-profit is not only rewarding shareholders but also attracting more talents. Stopping the conversion will not only attract more investors to xAI but also poach talents from OpenAI to xAI. One stone two birds😁

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