Serious Financial Advice Thread

Sup Veeky Forums, looking for financial advice to eventually stop being a wagecuck. I'm looking at overall financial portfolio, not just crypto. The ultimate end goal for me is financial independence by the time I'm 30, but wouldn't mind earlier lol. A little about me:

> 22yo
> Software Engineering Degree
> 92k salary
> currently in Bay Area, California

Currently, I'm investing like so:
> Maxing out 401k at 6% matching
> Company offers 15% discount on purchasing stocks for employees up to $6500 worth of shares every 6 months (maxing this out too)

Crypto Holdings about $12k right now (only got into alts around November. Put in about 4k total so far, so been making gains). Currently, portfolio looks like:
> COSS - 1096
> ICX - 273
> XLM - 6523
> XRP - 640
> FUN - 4475
> KIN - 500,000

I have a rainy day savings that can survive me 3-6months at same standard of living. After taxes, rent (apartment), and bills, I tend to have about $1900 a month to spend. Typically with this I spend some on myself and the rest I've really been putting into crypto. So far that's looking like the right play (probably going to start using XMR as my true long-term valuation hold instead of my savings account). However, I'm curious what other options or suggestions Veeky Forums has.

Also, general serious financial advice thread.

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Pic related, crypto portfolio

Honestly it looks like you don't need any advice. You're doing better than 99% of people on this board. I suggest you leave this place before you start buy high and selling low. Maybe get a few of these.

Thanks. I'm hoping you get to a good level for yourself. We're all gonna make it some day, in our own way Veeky Forums o7

Start daytrading, you can make it user.

need some stinky linkies

with the current portfolio you could literally just walk away for a year and you'll have made money.

I've been trying to learn about reading financial trends and the charts. I guess there's no better way to learn than through experience? How casual / serious can a daytrader be?

dump the crypto.

after you have maxed out 401k and your company stock options (both equities)

buy property

after you have 1 property start buying bonds

I'd recommend not doing it if you're new. If you're okay with losing money, feel free to try. If you want to do trades, do research and find coins you think will go up for legitimate reasons, buy beforehand, then sell once they go up.

>dumping crypto for bonds
lmfao. you think your obsessive risk aversion makes you smart but you're just missing out on significant gains for no real reason.

One way to achieve financial independence:
> identify what your yearly budget is
> keep saving/investing until you have 25x that amount in savings
> keep most of if invested in something like a vanguard index fund; these have some volatility but a historical return around 6% per year
> withdraw what you need to live every year, this will usually be less than what you earn in interest

The above strategy takes only 5 years if your income is 4x your yearly budget, i.e. you save 75% of your income.

I recommend picking some number X such that you're okay with having at most X% of your invested savings in crypto. I use X = 50, so whenevery my crypto account is bigger than my index fund account, I sell off some of the crypto and move it over to the traditional investment.

Get some VEN in there imo

Day trade when you have the time. I usually daytrade on Friday-sunday. What you look for is to read a chart for support and resistance levels, than you read the chart to see how it reacts to support and resistance (shoots right up or not), if it looks good you play off the bounces and net at least 4% profit each trade. Start with small amounts to learn until you get good.
Financially you look well on your way. You're 22 and already maxing out 401k, I put 15% personally with company maxing out 6%. I have most of my stuff paid off so the rest goes into food and crypto. When I have enough capital, I'd like to play around with mining, there's some people on here that earn around 6k a month with their rigs, I'd just need a tax advisor since laws get muddled with that shit.

It doesn't make any sense to dump crypto. The market is in infancy in terms of world wide adoption and is only growing. By the time the "bubble pops", I'd have already liquidated enough to have made significant gains. Why not use the extra passive income now to make more gains?

I'm from the south and have plans to move back. But I don't know how wise it'd be to buy property and try to manage it from CA.

Thanks user, I'll be looking into this and calculating them for myself. I've started looking into vanguard index funds and IRAs, but I haven't fully understood the benefits vs costs of them all just yet. Great advice.

Wow. Unrelated, but I'm 3 days away from completing a new pc build, and I got a 1070 Ti on sale for like $550. You think there's good side profit to be made from mining with that? I didn't even think to have that as an option.

I haven't looked into the specifics of it because I'm still spending time learning trading via Elliot waves and fib. I know there are sites where you can find out the performance of your card and what crypto it would be best mining. I've seen some people here post rigs of 6-8 cards. You'd need to then figure out how best to allocate your mining activity depending on what coin. So it's both foresight and then actually knowing how to do it with the programs and stuff.

Unrelated note, you'd probably want to figure out what you'd want to do after wage cucking. I'm in a field I like, so I'll continue working for the fun of the job or venture to make my own business if I do make it big. I don't think a lot of anons becoming loathing millionaires is a meme because they finished their pursuit and now just left to their own devices.

All in on xlm if you want to make it.

here's how i retired in 6 months
* put entire 401k into GBTC
* took out 100k in loans and bought crypto
* waited 6 months

I had nothing but 80k in my 401k and 0 savings before this. Kids stole everything.

Oh, it would be a good idea right now to do whatever it takes to buy a VEN node. This shit is so legit you can retire as soon as you do.

BTFO corp job, drop mic

Damn, looks interesting. I'll be checking it out. As for after, I have a few things I'd love to do, that this would free me to pursue. So looking forward to it.

It never struck me as a good play to take out big loans like that and put them in crypto. Worst case scenario is very bleak.

markets in its infancy? its been a normie pump since september, been on CNBC and the news and all over facebook/twitter etc.

real estate > equities > bonds

bitcoin is closed to maxed out as far as the rational bubble goes

>markets in its infancy? its been a normie pump since september, been on CNBC and the news and all over facebook/twitter etc.

Yet its less than 1/10th the size of the dotcom bubble when it popped and is expanding on a global scale. Yes it is in infancy.

Enjoy your 2% returns over 50 years.

when all you have to your name is your credit, what the hell else can you do middle aged without $ to properly retire and a penchant for not being able to handle a corp job

this is the one time in your life to get fuckin crazy

wait, every time is.. this is all a sim bro

what is so bleak about the scenario, if the market crashes you make payments, ride out the bear market... if you default because you have no job, your credit gets ruined for 7 years, boo hooo , in america you can still buy a house after 2 anyway its hilarious

did you post this on r/wsb? haha i swear i remember this

no but i almost started a channel and vlogged the adventure

but hen i was too lazy watching blockfolio all day + Veeky Forums to do anything with my life