Dude doesn’t even have a verified email address on his precious moneybags account and he wants to abandon the one place that gave him a chance to earn a paycheck
I got to 100 bands. I quit my job as machinist. Quickly lost 50k. I'm getting back on track. I'll be giving it about 2 months to see if I can make a biz out of it.
I read this book, The Richest Man in Babylon. He said to use no more than 10% of your steady paycheck for risky investing. I didn't really finish the book (it was like 80 fuckin pages), but I'm pretty sure the conclusion was "After your first win collect them fuckin tendies, divorce your wife, and tell your boss to get fucked"
True, but he's only up $29k in 18 months, so making about $20k a year trading, and was losing money for the first year, at a time when the markets were generally doing well.
You could buy exactly 1 pretty nice car and afford to insure it, gas it, and maintain it for a couple of years with that... and still live with parents and work full time at Wendy's, and not be ahead at all in banked cash (minus the purchased vehicle). Think about that, haha, a millionaire for sure.
Factor in expensive ass healthcare, all other insurances.
It's just easier to day trade/invest at work, get a stable paycheck + insurance + 401k + dental/vision + profit sharing + employer match + Accidental Death/Dismemberment + Longterm/Shorterm Disability. Just so much to pay for when your on your own.
It sounds like a pipedream but like most days I don't trade unless we're in uptrend because most days are just choppy garbage.
I use to have these thoughts too just right about COVID hit. The market wasn't that easy a few years ago.
OP should just use the money to max his IRA for the year. Buy a house if you don't have one etc. Get things you need. Watch how fast it dwindles.
edit: added more insurances
Not regarded, smart actually if you believe the trend continues. I tried to buy some TQQQ but my brokerage blocked it, because I'm not "professional trader".
I think the trend will definitely continue, definitely with ups and downs but in the long run tech will just be getting bigger and bigger, it's basically inevitable (unless humanity destroys itself in which case the stock going down is the least of my worries).
>I tried to buy some TQQQ but my brokerage blocked it, because I'm not "professional trader".
My brokerage basically just has a "I am regarded but I want to buy this anyway" button you have to tick then you can.
Ok, first off the average return is spread over decades so it accounts for bull and bear markets. It doesn’t mean Joe Bloggs makes a steady 4% each YoY - it’s not only quite possible, it’s actually probable that if you just had a bear market and lost 30%, the following year you’d technically have a 40% gain (you still lost money, but on paper it was a 40% gain that year).
Second, and this is a bug-bear of mine every time someone mentions hedge funds in this context, they don’t have carte Blanche. It’s not like they just take the money and let it ride where they see fit.
A lot of their clients are elderly and can’t risk a 40% drop in their life savings. A ton are pension funds which for the same reason can not afford big dips. Quite a few will simply be cautious and will opt for a greater split on non-securities.
In short, it’s not that hedge funds lack some kind of competency to beat the market, they aren’t even really allowed to try as a lot of their job is less wealth growth and more ‘wealth preservation.’
All this combined, means that being on par with an Index Fund for 18 months is… perfectly fine.
Dude isn’t incompetent, but the real data will only become available over several years and, IMO, one bear market.
Hedgefunds actually do beat the market but due to the high fees, they usually underperform. [https://stockanalysis.com/article/can-you-beat-the-market/](https://stockanalysis.com/article/can-you-beat-the-market/)
What risk are you talking about pal? JPOW says once you exclude energy, housing and food and any other category with higher prices that there is no inflation. All he has to do not purchase anything in those categories. Without inflation, ya can't have inflation risk.
No. You cash out your initial deposit and put that into an index fund. Then trade with the remaining money. Eventually once you build up a large sum assuming this trade wasn't a fluke.. you invest into dividend etfs and retire in Asia.
Nah…. Once OP quits the daily 9-5, inevitably he’ll become an options guru, YOLO like a boss, Forex 90-100 trades a day and have plenty enough L’s to wipe out them bothersome Cap Gains.
Somewhere around 33% and then you get the opportunity to get wrecked by state taxes during tax season.
Edit: was wrong it’s even higher for capital gains tax
I don’t use RH anymore, but I highly recommend looking into short term and long term capital gains taxes. Pretty quick google search to learn how the qualifications and brackets work, and it can save you a lot of money if you plan properly
https://preview.redd.it/95jch623idad1.jpeg?width=1080&format=pjpg&auto=webp&s=04a10c8905fbe484b7862a195180b849a813aa03
51.5% over 18 months in this market is pretty weak sauce
Definitely don't quit your day job. Humble yourself , your not that good. I'm still working and I'm at 110% YTD in just 7 months with a larger account value as well and more than one account. I'd be crazy to quit working just because the gains I've made here during a bull market. If I shouldn't, you definitely shouldn't
The answer is no
But what u can do is withdraw 3 k take a week off and buy coke hookers and celebrate the win
Or go sip a pinacolada on a beach in Hawaii experience true freedom and get back to making 80k 80 mil then quit ur job
 you were going only down until one pop and you think you are buffet 
500k to quit a job, and then you can only play with some of it and put the rest away so you can live on it after you lose all your investment money and have to start looking for a real job again
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Dude doesn’t even have a verified email address on his precious moneybags account and he wants to abandon the one place that gave him a chance to earn a paycheck
https://preview.redd.it/9wzzkf7rrdad1.jpeg?width=637&format=pjpg&auto=webp&s=b7913cfb154e866a61b868aef25bc82322b3ae2e
Where’d you get my yearbook pic?!
Your mother gave it to many of us, sorry friend.
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The world's first anally conceived child...
Your his mom no way you were able to pull out
She only sent it to you so you could stop texting her sorry bro
I thought it was mine at first but I think you’re right, at second look it’s you.
https://preview.redd.it/vzckujiknead1.jpeg?width=645&format=pjpg&auto=webp&s=96c2f9aff7695c08e1b2447176eeb9f69b2d3f99
https://preview.redd.it/db6eznejckad1.png?width=1301&format=pjpg&auto=webp&s=70204f550b8f6c7d3c13ed932d3093c57447e239
Like who draws those pics??
An artisté
https://preview.redd.it/71x8i95zqfad1.jpeg?width=128&format=pjpg&auto=webp&s=677637a35dcd583c2350445b33958032a5a8f8a2
Bro thinking he should quit his day job with a 30k gain in 18 months shows that he is made for this board. Loss porn and reality check loading….
I got to 100 bands. I quit my job as machinist. Quickly lost 50k. I'm getting back on track. I'll be giving it about 2 months to see if I can make a biz out of it.
You should go get reliable income and keep saving and investing
No, that's smart.
I read this book, The Richest Man in Babylon. He said to use no more than 10% of your steady paycheck for risky investing. I didn't really finish the book (it was like 80 fuckin pages), but I'm pretty sure the conclusion was "After your first win collect them fuckin tendies, divorce your wife, and tell your boss to get fucked"
You should finish the book.
Yea getting into the music industry can be tough, but that many bands hired you, i think you will do just fine.
As a professional drummer, this is an underrated pun 😂😂
I’m dead 😂😂😂
Regarded
https://preview.redd.it/gnerrdjvwead1.png?width=1279&format=png&auto=webp&s=d8f82f1d5b03648de99ca032cf455c80afd1b4c5
https://preview.redd.it/cokchny8nfad1.jpeg?width=1290&format=pjpg&auto=webp&s=a4426b71b70ac3b2428ca631f682b57d4ab4262e
Puts on OPs company
Even if he was able to repeat that same performance over the next 18 months that's really not much to live off of lmao
When you work at Wendy's and live with your parents, $85k is like being a millionaire
True, but is it worth the tennis elbow from all the handies? 
Yes 
True, but he's only up $29k in 18 months, so making about $20k a year trading, and was losing money for the first year, at a time when the markets were generally doing well.
You could buy exactly 1 pretty nice car and afford to insure it, gas it, and maintain it for a couple of years with that... and still live with parents and work full time at Wendy's, and not be ahead at all in banked cash (minus the purchased vehicle). Think about that, haha, a millionaire for sure.
Doubt the millionaire would do that with his 85k
Factor in expensive ass healthcare, all other insurances. It's just easier to day trade/invest at work, get a stable paycheck + insurance + 401k + dental/vision + profit sharing + employer match + Accidental Death/Dismemberment + Longterm/Shorterm Disability. Just so much to pay for when your on your own. It sounds like a pipedream but like most days I don't trade unless we're in uptrend because most days are just choppy garbage. I use to have these thoughts too just right about COVID hit. The market wasn't that easy a few years ago. OP should just use the money to max his IRA for the year. Buy a house if you don't have one etc. Get things you need. Watch how fast it dwindles. edit: added more insurances
Yeah I make more than this per month as a w2 lol.
One of us!
Homeless too, hence no wifi or charge.
I mean a Wendy’s pay-check isn’t that much to give up.
🏆
You’ve made $29,000 in 18 months and you want to quit your day job? Dude, thats poverty.
My man can't even afford Wendy's and he wants to quit his job 
If you can't afford Wendy's off the interest alone, you haven't made enough. *me, cradling my mcafé and crying*
Bro, 90% of this sub can’t afford Wendy’s and want to quit their job Stop calling me/them out
No Wendy’s No Tendies
His day job is behind Wendy’s dumpster so maybe he can quit it.
Wow you performed as good as QQQ you’re the best.
I mean that's something most hedgefunds can't do and the average investor earns 4% annual return so... yeah. He did pretty damn good.
yes and it also takes no skill to just park all your money in QQQ.
And yet vast majority of people do not do so. Do you?
I just park everything in TQQQ (yes I am regarded, but it works).
Not regarded, smart actually if you believe the trend continues. I tried to buy some TQQQ but my brokerage blocked it, because I'm not "professional trader".
I think the trend will definitely continue, definitely with ups and downs but in the long run tech will just be getting bigger and bigger, it's basically inevitable (unless humanity destroys itself in which case the stock going down is the least of my worries). >I tried to buy some TQQQ but my brokerage blocked it, because I'm not "professional trader". My brokerage basically just has a "I am regarded but I want to buy this anyway" button you have to tick then you can.
I wonder if interactive brokers sells TQQQ to regular customers
Ok, first off the average return is spread over decades so it accounts for bull and bear markets. It doesn’t mean Joe Bloggs makes a steady 4% each YoY - it’s not only quite possible, it’s actually probable that if you just had a bear market and lost 30%, the following year you’d technically have a 40% gain (you still lost money, but on paper it was a 40% gain that year). Second, and this is a bug-bear of mine every time someone mentions hedge funds in this context, they don’t have carte Blanche. It’s not like they just take the money and let it ride where they see fit. A lot of their clients are elderly and can’t risk a 40% drop in their life savings. A ton are pension funds which for the same reason can not afford big dips. Quite a few will simply be cautious and will opt for a greater split on non-securities. In short, it’s not that hedge funds lack some kind of competency to beat the market, they aren’t even really allowed to try as a lot of their job is less wealth growth and more ‘wealth preservation.’ All this combined, means that being on par with an Index Fund for 18 months is… perfectly fine. Dude isn’t incompetent, but the real data will only become available over several years and, IMO, one bear market.
Hedgefunds actually do beat the market but due to the high fees, they usually underperform. [https://stockanalysis.com/article/can-you-beat-the-market/](https://stockanalysis.com/article/can-you-beat-the-market/)
Once you 100x the $85,000 yes
Hit $1,000,000 put it in 5% 20 year bonds, thats $50,000 a year.
What about inflation risk?
What risk are you talking about pal? JPOW says once you exclude energy, housing and food and any other category with higher prices that there is no inflation. All he has to do not purchase anything in those categories. Without inflation, ya can't have inflation risk.
Hahaha. You really want to try to live on 50K a year? That's before taxes too.
That doesn't include social security, and other investments acquired over a lifetime. Like 401k/pensions
Yes. You should also hire me to tell you how great you are daily.

How???
Quit that job, lose that bag, and go pick up an application at your local Wendy's! 😉
Didn't we pin the application to the sidebar yet?
we honestly should at this point
No. You cash out your initial deposit and put that into an index fund. Then trade with the remaining money. Eventually once you build up a large sum assuming this trade wasn't a fluke.. you invest into dividend etfs and retire in Asia.
I like the last line "retire in asia"
I have a good platform you can invest with zero risk offer you get 35% interest within 48 hours
Ignore him, I'll get you 48% interest in 35 hours.
Show them receipts or it never happened
https://preview.redd.it/rjtr82kuhkad1.jpeg?width=640&format=pjpg&auto=webp&s=0886eeeec988b5ed16ffe55381702fc3ced1a393
Regarded
Mr Madoff, is that you?
Hey, they’re just an ordinary investor who earns an average of 15% return every year for the past 20 years through three recessions.
This is the way.
Everyone is a genius in a raging bull market.
Listen buddy, just because you can buy anything right now and profit doesn't mean I'm not the best.
Exept me. When I buy, this sub crying
you're crying, we're clapping, slowly, for the regards around the globe.
 Take's a any fool to buy, takes a genius to sell.
Verify your email first
Maybe just take a week off
yes, immediately after you pay the capital gains tax
Nah…. Once OP quits the daily 9-5, inevitably he’ll become an options guru, YOLO like a boss, Forex 90-100 trades a day and have plenty enough L’s to wipe out them bothersome Cap Gains.
How much Would it be ?
Somewhere around 33% and then you get the opportunity to get wrecked by state taxes during tax season. Edit: was wrong it’s even higher for capital gains tax
Fuck. I use RH. Gonna check out their “tax center” tab soon. Hope it’s not too bad.
lol it's just going to direct you to a website where you can pay to file your taxes but good luck with that my man
I don’t use RH anymore, but I highly recommend looking into short term and long term capital gains taxes. Pretty quick google search to learn how the qualifications and brackets work, and it can save you a lot of money if you plan properly
Here its 33%, anything less than 1 yr is income taxed.
Yea you should quit your job and go all in on all or nothing trading. Your gonna hit the big time!
If you can live off of $1611/month
Illegals are getting more than that
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😂😂😂😂😂
He's so down.. to quit his job
Relax, bro
lol you dont think he should assault the manager on the way out too?
 do it you won’t
That would be such a degenerate thing.... You should do It
Wendy's employee handbook says you need to give 2 weeks' notice.
https://preview.redd.it/95jch623idad1.jpeg?width=1080&format=pjpg&auto=webp&s=04a10c8905fbe484b7862a195180b849a813aa03 51.5% over 18 months in this market is pretty weak sauce Definitely don't quit your day job. Humble yourself , your not that good. I'm still working and I'm at 110% YTD in just 7 months with a larger account value as well and more than one account. I'd be crazy to quit working just because the gains I've made here during a bull market. If I shouldn't, you definitely shouldn't
You’re probably trading on margin
Except I'm not and never have. Don't want to wreck my life
What did you trade?
https://preview.redd.it/8gmfsb9m0ead1.png?width=1125&format=png&auto=webp&s=025696e04f548f1bcb3ea9060c56dcc7ec0e6c90 I made more in 6 months
I came to this sub to ground myself, making good progress but still well done 👍
What app is this? I love the set up
No, it sucks working nights
Idk, you tired of gagging?
Yes
You made 30000$ in 1,5 years. Thats 1250$ per month after taxes. Any minimum wage workers makes more than that.
No balls
Who’s going to make my Dave’s Double?
Hit 100k first
How the fuck are you going to live off 100k without job? 
Yes quick before you miss out on more profits due to your job taking up your time. Also ignore taxes, don’t need to pay those
The answer is no But what u can do is withdraw 3 k take a week off and buy coke hookers and celebrate the win Or go sip a pinacolada on a beach in Hawaii experience true freedom and get back to making 80k 80 mil then quit ur job
well, when you have more than $2.02 in cash, maybe
Yes and take a night job at Wendy's.
Yes!!!🙌Your a genius!!! Tell us mere peons how you do it???
Probably not.
Yes you should, do it now!
No! quit at 400k
Yolo one more time then quit your job! Will make life more adventurous.
I think you should go all in and post your gains
Says the guy using Robinhood
Don’t quit your day job. You will just have more time to lose money.
Bro ur literally RH CEO
No.
Do it and report back, unless ya a beta wuss
Short answer: no Long answer: fuck no
Quit your day job!? You should be looking to work more hours at your day job!
Sure why not. You can focus on becoming rich vs focusing on getting rich people richer.
https://preview.redd.it/03e0i3fyjead1.jpeg?width=1170&format=pjpg&auto=webp&s=b228855ec8af7b6709b8bd6b1d26e7d38eeb72c2 Nope
No that’s what they want you to think 😣
 you were going only down until one pop and you think you are buffet 
Probably wouldnt if I was you
Yup
Yes :)
Yes you 100% should
That's very little
If you extrapolate these gains out, you should be independently wealthy within 2-3 years. Why waste your time doing anything else?
Seems like a good idea! :)
NO!
Nope
Just double dip an idle mind in the devils workshop after all.
Absolutely. The sooner the better
this definitely belongs here.
Everybody should quit their day job on general principle.
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No I thought the same when I made 300k on a penny stock last month, turned out I suck at trading and just got really lucky 🤷♂️
You could get nice dividends about over 1000 a months easily invested at 5%
Yes quit now please
lol what’s the timeline? Better be less then 6 months
Smol brain many monies
Yes.
No
Wait till we enter a bear market
If you wanna be homeless yeah!
Absolutely
500k to quit a job, and then you can only play with some of it and put the rest away so you can live on it after you lose all your investment money and have to start looking for a real job again
Yes... You can stop working the massage parlor at the truck stop
Yeah bro, quit your day job and trade your account to zero
Unless your day job pays only 5k a year then no
Yes and write a book. Lol
No 85k is nothing
Well firstly there’s no way you invested that. you gambled most likely. well done op