I hit the 5 figures mark in crypto but i want 1mill so bad

Spamalot
Spamalot

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

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payscale.com/research/US/Employer=New_York_Police_Department_(NYPD)/Salary

VisualMaster
VisualMaster

Buy and hold. In the future all crypto will be based on OHNI

Spamalot
Spamalot

don't worry, once you hit six figures everything else comes natural

RavySnake
RavySnake

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.

ZeroReborn
ZeroReborn

what are your holdings?

BinaryMan
BinaryMan

Margin trade, all in OMG

StonedTime
StonedTime

Where can you do that?

CodeBuns
CodeBuns

4k btc, 1,9k xmr, 1,3k eth, 700ltc and 300bch. This is in usd

Burnblaze
Burnblaze

convert ltc to omg and you're done

likme
likme

$8200
comfortably retire

Where the fuck do you live

Fuzzy_Logic
Fuzzy_Logic

this.

Stupidasole
Stupidasole

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.

takes2long
takes2long

need to hit the $1M mark first

StonedTime
StonedTime

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?

VisualMaster
VisualMaster

I just want to grow my crypto a bit more and reach four figures...

BTC: 1Fpi2x5FQnSVUheQqpod2RFNtdP5DpbC2k

Gigastrength
Gigastrength

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

TalkBomber
TalkBomber

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).

MPmaster
MPmaster

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.

lostmypassword
lostmypassword

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/research/US/Employer=New_York_Police_Department_(NYPD)/Salary

But still, if you want to "make it", $1M is not enough.

Burnblaze
Burnblaze

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.

WebTool
WebTool

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

eGremlin
eGremlin

4k btc
$8000
:^)

Dreamworx
Dreamworx

He said 4K btc in USD he'd probably already be retired if he had those amounts of coins

Playboyize
Playboyize

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.

Boy_vs_Girl
Boy_vs_Girl

try to make 8-10% a year off the $1M in either crypto/stocks/real estate/or business venture

massdebater
massdebater

something happens for 30 days
that's basically a trend I can expect to follow for 30 years
lol boomers so dumb. college? pls

hairygrape
hairygrape

what did he mean by this?

Illusionz
Illusionz

6 figures
I'm sooo over that
I have less than $100K but I swing for fences
be millionaire now
this happens. yes

Raving_Cute
Raving_Cute

greed will kill you

Fuzzy_Logic
Fuzzy_Logic

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

King_Martha
King_Martha

4k bitcoin
18 million USD
Can't comfortably retire already
:^)

Poker_Star
Poker_Star

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.

CouchChiller
CouchChiller

You would need like 15 million to live the lifestyle in this pic.

King_Martha
King_Martha

this is so depressing :( I want to make it so bad

Deadlyinx
Deadlyinx

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?

PackManBrainlure
PackManBrainlure

I cannot trade worth a shit even during a bull run. Should I just kill myself?

Sharpcharm
Sharpcharm

You'll know when you hit 6 figures, then 7 figures. Its hard to describe.

Supergrass
Supergrass

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.

Sir_Gallonhead
Sir_Gallonhead

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

iluvmen
iluvmen

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

Methnerd
Methnerd

Just wait. The next big milestone will be $10,000.