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Interned at a couple of places until last year and accepted a FTE offer lined up for this fall. These past few years have been insane for the markets. I was lucky enough to ride the wave with GME options and then I gambled that and my internship money with NVDA and Meta options and made 8M. Do I just invest this into different places and retire? I live a pretty low expense life style (35K), but want to account for lifestyle inflation. TC: 0
I would keep working for a years and keep stacking your winning stocks while focusing on getting to FIRE as soon as possible. As someone who has lived on 35K before, it is nowhere near enough for the lifestyle that you actually want. You’re in a way better position than most, but you would seal your retirement by grinding a bit more and generating enough in investments for a six figure a year salary. Good luck! TC: 105K
OP would have 240k inflation adjusted side income perpetually if OP retires today. Unless OP needs to buy yachts, realistically, a reasonable human being won't need anywhere near that much to feel financially comfortable in life.
😭😭😭
Congratulations, the only danger is gambling away what you have, falling into the trap of thinking you have Midas touch
That’s true. I have hit the lottery early and I want to use it to do something fulfilling with my life
Did you account for the large tax bill you'll have next year?
I heard of someone who got lucky like this too, on GME call options. It’s a good cushy amount of FIRE money, just stash it away in a vanguard fund and pretend it didn’t exist. Go get a real FANG job and diversify into some real estate. Principal engineers can make 1 to 2M annual and careers are long, so eventually this early 8M windfall won’t look so big in retrospect.
You are insane. This person should retire.
Who cares about money after 8M. Conservative inflation adjusted 3% withdrawal from today nets you 240k inflation adjusted income rest of OP's life. And a good chance OP might have higher net worth by the time OP passes away. Working all the way to principal? For what? OP should pursue whatever passion he wants. Not grind at FAANG for no real purpose. Diversify to real estate? Why add more complexity when the game is already done. Diversified three fund Bogleheads portfolio and OP is set 99.999% of time financially.
Retire and enjoy it. If not the universe will take it all away from you.
Here is what I would do: - Take $7M of it and put it into conservative investments. Lots of bond funds, maybe a little bit of large cap index funds or some investment real estate. You are in stay rich mode, not get rich mode. It should be no problem to have $200k spun off this portfolio annually forever with the capital still growing faster than inflation. - Think long and hard about if there was a common thread that caused you to pull the trigger on the big wins you booked. Be honest with yourself if there was not, and you just got obscenely lucky. If there was a person who tipped you or some signal you were reading though, then you have my blessing to play with the million dollars to try to ride the next big bull, as long as you use this golden goose. - If you do the above and make another $5-10M, then keep socking away a big chunk into your nest egg. If you lose big, then you probably have won in the long run because your expectations for what is possible have been normalized and you won’t gamble away the whole thing. - In any case, what should you do with the $200k/year income? I would not advocate retirement in the traditional sense. Consider what you want your life’s work and legacy to be. It could be that you want to pursue a traditional career that is meaningful to you, or maybe do something entrepreneurial or do long term passion projects that aren’t normally economically viable (I.e. a poor artist without the poor part). Don’t sit on your butt. Also, make sure you have properly insured yourself immediately. You have serious assets to protect.
Don’t retire. Do work you like, makes friends, and brings you status and respect. Maybe Meta is the best mix of that for you, maybe it’s something else. But it’s not retirement. Sitting around alone at home, posting and not working, in your 20s/30s won’t bring friends, status or respect, no matter how well you did on GME.
Who says retirement is sitting alone? Counter-example from an early retiree who wasn’t just “sitting alone”: https://youtu.be/QhJV5ecFBrI?si=7XWZt_oOjGtoCpEX
Get a real job, and just have fun in the workplace and gain some real life experience. If it is too stressful you can quit anytime you want and start your own thing. Just don't sit down and do nothing. That's a recipe for languishing and becoming aimless.
Start something or work in finance. Don’t waste this lottery ticket joining a regular FAANG at E3. It’s like having a business class plane ticket but deciding you’ll take the bus across the country.
Why not? Living to work is kinda fucked.
Liar… no way you can make $8M off GME and “intern $”. $80k maybe but $8M give me a break 😂
No I made 8M off NVDA and Meta, GME was only about 650K
This needs video proof sorry. Were you a student for 10 years and intern for 5 years or something.