i hit the 5 figures mark in crypto but i want 1mill so bad. it's like i don't even care about hitting 6 figures because that would be easy in the next few weeks. i might just swing for the fences on the next hot ICOs and try to make that 1 mill
I hit the 5 figures mark in crypto but i want 1mill so bad
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Buy and hold. In the future all crypto will be based on OHNI
don't worry, once you hit six figures everything else comes natural
How long will this bull trend continue? If it keeps rising like it's been the past 30 days I can comfortably retire in a year.
what are your holdings?
Margin trade, all in OMG
Where can you do that?
4k btc, 1,9k xmr, 1,3k eth, 700ltc and 300bch. This is in usd
convert ltc to omg and you're done
Where the fuck do you live
You haven't truly made it until you hit $4-5 million IMO... Bare in mind that a huge chunk of those gains will go to the taxman, and of what's left, you might want to do a 50/50 split between crypto and non-crypto assets.
need to hit the $1M mark first
You haven't truly made it until you hit $4-5 million IMO
lol ok. you are aware that a net worth of 1 mill puts you in the top 1% of people <30 years old?
I just want to grow my crypto a bit more and reach four figures...
all user said was because of tax your 1 million wouldnt be one million after paying the taxes.
and also that sounds like a stat you pulled out of your ass
you are aware that a net worth of 1 mill puts you in the top 1% of people <30 years old?
Yeah, but $1M only lets you live a lifestyle of $30-40k/yr.
$40k/yr if you're comfortable with a very real chance of going broke. $30k/yr if you don't want to go broke.
Basically, 3-4% is what you can expect to live on. So $1M means you get live in poverty in a hot city, or a lower class lifestyle in a boring city.
If you have $4M, then 3% is $120k/yr. You get a six-figure income for life and never have to work again.
People study for jobs in engineering because they want to make a decent amount of money. Nobody making $30k/yr in a small, shitty town looks at their life and says "boy, I really made it! awesome!". but that's the best you can get with $1M.
$1M puts you much closer to "making it" than virtually anyone else <30 years old, but you're not there yet unless you like watching your friends go out and have fun with their high-paying jobs while you eat ramen noodles (this is assuming you live in a worthwhile, expensive city - basically NYC or *maybe* San Francisco if you're in the US).
I mean, shit. I live in a 220 square foot studio in Manhattan in which I've seen mice and have no bathroom ceiling dehumidifier and have mold growing and I pay $2400/mo and this is a fucking steal for the neighborhood I'm in. And nobody would rent this to me if I made less than 40x the monthly rent every year: $2400 * 40 = $96k.
I'd need at least $3M (after taxes! so I need to make more like $5-6M if I want to have $3M of investments to live on) saved up if I wanted to be able to be able to rent the shitty apartment I'm currently in. And $96kyr in NYC isn't even considered good. Police officers make $100k/yr, IIRC.
Police officers make $100k/yr, IIRC.
Actually, no, I just looked that up. Looks like the average is $75k, but there may be some that make up to $108k: payscale.com
But still, if you want to "make it", $1M is not enough.
if you want to "make it", $1M is not enough.
* It's not enough in the sense that it's not the finish line. Once you have $1M you probably have a much better chance of crossing the $5M finish line than almost anyone else, though.
i was thinking if i had $1M and I can make 8-10% off of that then I can make it work. it's not living the dream but it'll let me escape the corporate desk job life
He said 4K btc in USD he'd probably already be retired if he had those amounts of coins
i was thinking if i had $1M and I can make 8-10% off of that
What do you mean "make 8-10% off of that"?
If you live on more than 4% you will almost certainly go broke. This is assuming you're getting 7% growth of that money. I.e., every year, your $1M sees $70k in gains and you take $30-40k of those gains and live on them.
Even 4% is pretty risky (crashes happen). But you're definitely not going to live on $1M for long if you're using 8-10% per year for living expenses. You'd be shrinking your investment every year. And assuming you'll be able to do better than the 7% of the stock market is also seriously optimistic.
try to make 8-10% a year off the $1M in either crypto/stocks/real estate/or business venture
something happens for 30 days
that's basically a trend I can expect to follow for 30 years
lol boomers so dumb. college? pls
what did he mean by this?
I'm sooo over that
I have less than $100K but I swing for fences
be millionaire now
this happens. yes
greed will kill you
it is so easy to get money from stocks
i multiplied my money as a student and now all in crypto
just buy normie stuff like netflix. google. apple. microsoft.amazon.dominos
this shit mooned so hard and there is always a new moon even in stocks
18 million USD
Can't comfortably retire already
Bruh, this is the fit equivalent of saying you can nearly bench a plate and you're thinking of competing. You will make it if you just dont let shit go to your head.
You would need like 15 million to live the lifestyle in this pic.
this is so depressing :( I want to make it so bad
how long will this bull trend continue? If it keeps rising like it's been the past 30
mmm doesn't he mean if price rise continues for 12mo he can retire off his profit without the continuation of said bull run?
I cannot trade worth a shit even during a bull run. Should I just kill myself?
You'll know when you hit 6 figures, then 7 figures. Its hard to describe.
Hopefully a few years. Cryptos are just now starting to enter public consciousness. The rhetoric from officials hasn't been hostile. Everyone's going to get in, shit's gonna explode, then pop. It hasn't even begun.
Crypto is also well placed to benefit from political instability.
If i had 6 figures i would be sure to have at LEAST 10k ARK and a few thousand NEO as well, both for staking purposes. Just off of the ark youd be getting about 3 Ark a day, lets put fair price of ark at 20 bucks by end of q1 2018. Thatd be 60 bucks a day in passive income
I've been margin trading eth and bitcoin, besides that I'm gonna invest a fuckton into Ethbet and then be set for life boyssssssss
Just wait. The next big milestone will be $10,000.