Update post: Made $4m on meme coin didn’t take IB return offer
I ended up turning down the IB return offer and took a product specialist role at a F500 company instead starting in September (in a sector I’m actually interested in). Pays around $70k all in, hours are 40 per week. Nothing crazy but I don’t hate my life and have time to enjoy it. I tried to find a fully remote job but honestly had no luck (that was plan A), regardless I’m happy with my decision decided IB just wasn’t worth it.
As for the $4M, after taxes I had about $2.5m left, and I split it across: Index funds (S&P 500, Lmao) Real estate, Bonds & cash, A small amount still in BTC & ETH.
No full time crypto trading, no hedge fund dreams just a normal career though I’m aiming to retire pretty early as long as the market stops tanking. No regrets so far, I’m planning an Asia tour before starting my new role. Thanks everyone for the advice on my last post.
That's awesome
Dude you won congrats. Assuming you’re fresh out of undergrad, I’m not sure I’d put it in bonds. Index funds and chill; you’re going to be very well off in a few decades.
IMO he’s better off buying a fairly large proportion of bonds & CDs and dollar cost averaging them into index funds as they mature. Now doesn’t feel like a stellar time to dump all one’s money into an index.
No, he’s better off getting a professional wealth manager as soon as possible
I’d rather not pay someone 1% of my assets just to yield the same return as VOO
Not necessary at $2.5mm net. Makes more sense when you have multiple accounts / investments and have tax / insurance / estate considerations.
good shit
curious to know how many trades you made and how much did you make on each trade?
The most impressive thing here is how you handled it. I feel like 9/10 meme coin winners blow it after a year. How much was your initial investment?
Put it in a 2x S&P ETF as soon as the market bottoms. 2x outperforms long term... yes even buy and hold.
That won’t happen because of daily compounding. Think day 0: $100, day 1 up 2%: $102, day 3 down 2%: $0.996. Over a long period of time he’s better off just investing the s&p and forgetting about his account until he’s 28 at least.
Wrong. Look at the graph below.
grab 15k from that and run it back on meme coins
Shit, if I had made $4m on crypto you bet I wouldn't pay taxes on it. Just convert it to a stablecoin and get a cash loan from Nexo backed by your stablecoin holdings.
Is converting bitcoing to USDcoin or whatever not a taxable event?
No, only when you convert to fiat currency. Converting your BTC to USDC isn't a taxable event, it's a crypto-to-crypto transaction
Nice work, congrats
let me hold a mill
Fuck yea, congrats
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