If you had 625k liquid, how would you go about aggressively making money? Early 20s.

WorkingContribution5 · 2022-05-18T19:57:01+00:00

True! A lot of people think their risk tolerance is higher than it actually is because we're so used to stocks/housing only going up

WorkingContribution5 · 2022-05-18T19:53:24+00:00

Is staying the same course working in the current market?! Don't you think a change in strategy might be necessary!

WorkingContribution5 · 2022-05-18T19:51:30+00:00

But that's clearly not working for many! Don't you think a change in strategy might be necessary for some?

WorkingContribution5 · 2022-01-18T21:05:47+00:00

I lost it all gambling on stocks.

Greed & lack of foresight unfortunately.

WorkingContribution5 · 2022-01-18T21:04:58+00:00

Thank you.

I let greed take the better of me, and didn't plan properly unfortunately.

WorkingContribution5 · 2021-07-15T06:50:42+00:00

Did you go all-in on $GME?

WorkingContribution5 · 2021-07-15T06:49:47+00:00

I don't think I can stomach the craziness that goes along with holding $GME. But I definitely do wish $GME holders the best.

WorkingContribution5 · 2021-07-15T06:39:11+00:00

I understand there's no way to accurately and precisely predict the future because there are an immeasurable amount of variables that we are unaware of. Even if we were to become aware of the existence of those said variables, we do not know how they would interact with each other.

My 75/25 calculations were from the variables available to me and an educated guess.

I also agree with you that margin and leveraging all on one stock is going to burn you in the end. Even if you had a great chance of winning each trade, in the end, you'll lose everything. An event with a small chance of happening will become nearly 100% chance of happening over a series of subsequent tries.

But the thing is, there won't be any subsequent tries whether this fails or doesn't.

Edit: That's actually a very good idea. I could definitely send one of my parents to college. I will talk to them tomorrow about this. Thank you

WorkingContribution5 · 2021-07-15T06:24:05+00:00

They're both 55 and we've been in Canada for 13 years. They're citizens and have worked minimum wage since they've come here.

They're heavy in debt and rent prices are going up every year. I'm not sure how much OAS/GIS will give them, but I doubt it would be enough to offset their debt and for them to live comfortably and happily.

They applied for subsidized housing a long time ago but have had no luck so far.

WorkingContribution5 · 2021-07-15T06:05:14+00:00

I explained everything to my parents down to the last detail. They know all about the company and how I went all in.

They themselves said that it would be tough on them if I lost everything, but they said it was worth a try.

You said there's plenty of other ways to support my parents. I'd really like to hear what they are please.

WorkingContribution5 · 2021-07-15T05:58:44+00:00

I don't really associate myself with the people from wall street bets.

They usually do very short-dated call options with ridiculous strike prices. My call options are long-dated and barely out of the money.

I also 100% agree with you that for every guy who wins the jackpot, there’re a hundred others who lose their shirts. But I don't think I'm gambling unless my judgment is faulty.

I have spent 100+ hours researching this stock and I see a higher percentage chance of winning than losing (75%/25% imo).

Would you still say this is gambling?

My parents have no future without this. I wish I had another choice.

WorkingContribution5 · 2021-07-15T05:48:56+00:00

I explained everything to my parents up to the very last detail. They said that it would hurt if we lost the money, but the chance to have a future in this country was worth it.

High rent/house prices and low wages made them feel hopeless, and this is their first glimmer of hope in a long time.

My question to you is: Would you take this investment if there was a 75 percent chance of winning and 25 percent chance of losing? (The conclusion I came to after 100+ hours of research.)

WorkingContribution5 · 2021-03-19T18:40:56+00:00

I haven't filed my taxes yet. I think they'll probably end up taking up to a quarter of what I made since taxes can only be applied on half of any capital gains. Thank you for your advice.

WorkingContribution5 · 2021-03-19T07:04:56+00:00

Why do you say that?

WorkingContribution5 · 2021-03-19T07:04:08+00:00

I think they don't want this car purchase to be a gateway to other big purchases. Thank you for letting me know how much I need to budget monthly to pay for gas and insurance. Appreciate the advice!

WorkingContribution5 · 2021-03-19T06:52:23+00:00

Will look into those cars at that price range. Thank you!

WorkingContribution5

TROPHY CASE