Aside from this new 650k, I’ve like 50k in a high yield savings. Im 24 so risk tolerance definitely through the roof but want to diversify out of crypto for a bit. rn the plan is throwing 700k into Wealthfront @ 5% return savings account. Currently waiting for stocks to cool off bc I don’t wanna sell years worth of crypto gains only to buy the top of boomer bags. Thinking I eventually go say 10% cash 80% spx and 10% individual stocks/crypto (intentionally risk on bc I’ve diamond hands and pretty low cost of living/responsibilities) and hopefully average 10% a year by the time I’m 30-31 (praying I compound hard so I can stop worrying about the tech grind as much and pursue other things). Obviously will make more in monthly contributions from the dough from my regular tech job the next 7 years. Only graduated 3 years ago and I’ve been lazy so I haven’t built credit history so far and haven’t looked into IRA/401k stuff much so that’s another short term goal too. What am I missing and what else should I lookout for? #stocks #investments
Spy puts and set fire to Apple stores is what people say but I wouldn’t do it
not letting the bankers steal my monies monsieur, took me years of roundtripping pnl and getting liquidated for more than a handful of times
did you had solana
was in a mix of diff coins and even crypto equity but yeah solana was one of the winners even tho I bought it quite late (been in the industry since 2017 but only sized up on solana earlier this year)
which one do you see potential for 10x and why did you cash out
Unless, you learn to risk manage, you'll lose it all. I suggest that you get a professional money manager to manage this. You won't get lucky twice.
Buy gold mining stocks
Tax free munis are better than that savings account, but never be out of the market. If you are concerned it will go down just sell covered calls or buy insurance puts or whatever.
which crypto you're holding? Mind if I DM
You made 700k on crypto. I haven’t made that much in a life time at 45 f u c k.
You’re cashing out before btc about to hit through the roof and putting it in HYSA ?
it’s a portfolio I’ve accumulated over 7 years, at some point (esp at 1M+ pre tax where the drawdowns can be 6 figures) capital preservation and avoiding tax liabilities becomes more important than multiplying $ with aggressive gambling. just different risk profiles
How are you avoiding tax liabilities? Dont you have to pay anyways
Reading between the lines op thinks crypto drops after the halving.
naw, we’re mid cycle ish imo, I wouldn’t be surprised if ETH/SOL did another 2x from here like by 2025. more like I got really lucky with the last few trades my way to 1m+ pre tax (esp the 400=>1m stretch). I’m just too burnt out and I expect a lot of volatility around halvening and don’t wanna take 6 figure drawdowns. bout to just go sip on margs on a beach somewhere nice.
Cool
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Quarterly payments to the irs. HYSA the rest until next year
wait if I paid the IRS early vs when it’s due, wouldn’t I miss out on the 5% yield on the difference (1.1m value-350k/400k estimated taxes). I assume the interest is taxed a bit on top too but there’s still an arb if I don’t gamble that money away right?
They'll fine you if you don't make estimated payments