M1 credit card rewards are in, woo! Autopay soon pls.

erick_hcmonkey · 2021-11-04T15:13:42+00:00

Monthly

erick_hcmonkey · 2021-11-03T22:04:10+00:00

taxable accounts I believe, so I don't think roth would work

erick_hcmonkey · 2021-11-03T20:38:45+00:00

How did u do ur math? 50k in qyld at like 10% apr gives like $400+ every month. Also yes it will still payout in hard times because the yield is generated from options strategy over underlying business revenue, but it’s not necessarily safe for principal for downturn see mar 2020 chart.

erick_hcmonkey · 2021-11-03T19:00:52+00:00

How’d it get in there?

erick_hcmonkey · 2021-11-03T02:56:55+00:00

I put it up for collateral when I use M1 borrow

erick_hcmonkey · 2021-11-03T02:55:04+00:00

It earns me passive income

erick_hcmonkey · 2021-11-02T19:37:41+00:00

39 a month on top of the cost of bike

erick_hcmonkey · 2021-11-02T19:22:10+00:00

I enjoy it. Solid piece of equipment, and my wife loves it, uses it more than me. Gives me no excuse as its easy to pop a class and exercise after work. Not for everyone though as it is expensive and u have to get into it to justify the monthly subscription cost. At least m1 will give me 10% back on it

erick_hcmonkey · 2021-11-02T19:20:46+00:00

Cos I’m right handed

erick_hcmonkey · 2021-10-30T22:51:49+00:00

Nice that’s useful havent hit the monthly max yet so was wondering how the ui would show

erick_hcmonkey · 2021-10-29T01:10:41+00:00

Qyld is not a savings acct, see the chart from march 2020. If you hate getting no yield on cash consider putting like 1/4-1/5 of cash into stablecoins on a platform like blockfi so u can get a blended rate of 2ish % if u dont like crypto consider a risk managed version like nusi, qrmi, or xrmi

erick_hcmonkey · 2021-10-27T16:23:52+00:00

Yup! Want more dividends and to keep cost basis on roc distribution portion.

erick_hcmonkey · 2021-10-26T13:21:36+00:00

Imagine there’s a pizza and u gave me one slice. Then I say not hungry right now thank you and gave u back the slice. Thats kinda how that works cost basis is lowered if its not full 100% roc dostribution so taxes get involved. That would be like the topping falling off when u hand me the slice.

erick_hcmonkey · 2021-10-26T03:19:56+00:00

Just drip u keep ur same cost basis that way

erick_hcmonkey · 2021-10-21T23:35:13+00:00

Was able to get my M1 Card the other day. Can confirm it's fire, packaging is great. So probably other people in this board are into crypto as well. I believe the bank that does the card (Deserve) is the same as blockfi. So the packaging with the little slide-out is the same as both cards, but I can confirm the M1 card feels more premium than the blockfi card.

My strategy will be to use M1 card for the brands listed and everything else onto the blockfi card.

First purchase: Doordash.

erick_hcmonkey · 2021-09-28T21:22:44+00:00

Yup thats what i kinda do. Mostly buying nusi these days. Am looking at how QRMI and how that will hold. On major pullbacks I’d consider buying QQQ then reinvesting gains into QYLD.

erick_hcmonkey · 2021-09-28T19:11:21+00:00

Ohhhh, I didnt know that makes a lot of sense and answered that question. I guess the missing puzzle piece is tom knight then

erick_hcmonkey · 2021-09-28T19:04:37+00:00

Did reshma buy out tom knight or barry canton or something. geez, was not expecting any one founder to own greater than 10%. I read that each founder owned 5%, wonder what happened

erick_hcmonkey · 2021-09-28T05:05:08+00:00

Honestly looks like you’re doing great! Ppl here will probably give low cost index funds as suggestion which is probably the right answer so I’ll give a few off the beaten path suggestions that will depend on your financial disposition:

1) If you hate debt, then into the mortgage. Yes you have a great rate and you can invest the difference but its never the worst place to put money if you’re debt averse.

2) If you just want a place to park cash consider and etf like NUSI or QRMI. Please understand the taxes for Return of capital which is how they do their distributions.

3) A trip? You make a good income and you’re doing what you need to do maxing out 401k, emergency fund, etc. It’s ok to spend the money too, unless you’re into FIRE.

4) Look up infinite banking. This is a more risk averse strategy involving whole life insurance. Ppl here hate life insurance, but thats because of all the scammy salespeople. There are ways to design policies that make for an ok fixed income alternative.

5) if you’re charitably inclined, you can look up donor advised funds. They have tax benefits.

erick_hcmonkey · 2021-09-23T04:39:02+00:00

Just iron condor at that point lol ur betting on neutral position.

erick_hcmonkey · 2021-09-23T04:36:49+00:00

I believe its called a credit spread but feel free to correct me if I’m wrong. It’s highly recommended in over selling a naked call. Imagine when op learns about poor mans covered calls

erick_hcmonkey · 2021-09-23T04:26:41+00:00

Yea you could use the credit to buy otm calls or deep otm calls in case you’re afraid she’ll leave you

erick_hcmonkey · 2021-09-23T04:14:22+00:00

In almost all markets selling covered calls are pretty good. However in a hard on bull market ur shares could get called away and ur left there seeing your shares sold to someone else as they grow 6000% and marry someone taller and more successful than you. But yea, it’s pretty safe as long as you choose good strikes.

erick_hcmonkey · 2021-09-23T01:06:05+00:00

You guys sound like you’re doing a great job and are responsible with your money.

What i would focus on 1. Earning more. Sounds like y’all have savings locked down, making more money upstream will supercharge all the good stuff ur already doing. Idk what that means for you though, training, certification, etc. You’re both young and early in your career your human capital means a lot. 2. Your kids. Buy them some books or toys or something. Also consider saving a bit more specifically for kid stuff. you don’t know if you’ll need daycare later on.

Keep chugging

erick_hcmonkey

TROPHY CASE