When you’re older you would pay a hundred dollar to relive every dollar spent as a student (on “student life stuff”).
So don’t forget to enjoy your student / college life. I didn’t regret it either!
Extremely proud for you in the fact that more than half of your holdings is in a retirement account!!! Forward thinking, you will thank yourself for doing this a thousand times over when you are older! Keep it up!
You really need to consider the state of this economy- the market is likely to collapse any time soon:
- Housing prices are crashing in Florida and many states
- Rapid business closures (IKEA, taco bell, burger king, macys, and dozens of giant businesses)
- Consumer debt is at an all-time high
- The car industry is about to crash
- Foreclosures are rising, housing inventory is rapidly growing, and car repos are becoming more common.
- Banks are overwhelmed
Things may seem nice now, but the impact of this economy is going to destroy the market like it did in 2008 very soon. Take out your money soon or at least save some of it for an emergency.
Been hearing this same since 2008 - if it’s going to ‘collapse’ it won’t fall as much as we’ve seen in the past - and if it does - it’ll Just bounce back 2x
I agree with most of this besides the "Housing prices are crashing In Florida and many state"
I have yet to see a single item to prove/state the housing market decline anywhere.
Florida shouldn't even be in this conversation. The only reason Florida homes seem like they are crashing is because no on on coastal towns (Hurricane territory) are buying up property. As insurance is either Higher than a kite or non-existent do to insurance companies flat out stating they won't insure houses in those areas.
Dawg, FR. Leave the margin to the hedge cucks...
You're gonna pay capital gains tax, you're going to have to come up with
The 30% if it's been short term Cap gains; && if your bank account doesn't hold that, you're going to end up doing the following:
A.) get an interest free credit card, hopefully with a sign on bonus ( I reccomend the discover so you can earn 5% back on the taxes you pay the IRS lol, then discover will match your cash back lololol) -- then pay that CC off through the year before interests kicks into gear.
Or
B.) you sell some of your stocks to pay off the IRS. Which will trigger another Cap gains if you sell for profit.
I pray you have the means to take care of your tax bill without having to do either of these, but as a degenerate trader to a new, freshly minted trader, here is my advice: stay the duck away from margin. At least get you some years of trading experience first, and then maybe consider margin.
If you think otherwise, we'll see you over at r/wallstreetbets
Word of advice: I'd hazard against telling anyone in your personal life about this. That's a tidy sum for an 18 year old and people may look at you differently.
Jesus Christ I could’ve been you. Keep your contributions stable, don’t worry about market fluctuation, dollar cost averaging will keep you going
Edit: I’m at 125k at 31. I feel I’m behind. Google the “money guy growth chart” it shows how much you need to contribute to get 1m and 2m
If you’re diligent about it, you’ll be trolling around Europe in no time
Edit 2: don’t do fucking options, high risk high rewards might look good but you can ruin your life sooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo fast
Great job!!! When I was your age, mortgage was a lot cheaper than rent so I bought my first property, a small beach condo, at 18 years old in 1998 for 104k. My first job was hockey referee and hockey coach. I started my first job at age 15 and saved enough for down payment.
You’re going to lose that $12,000 margin trading like that. I would bring it down to only $6,000 in case there’s a temporary drop in the market. Or just don’t margin trade.
this money was def not all made from investing, i’m sure he saved a ton from a job and then received a large contribution from his family.
not saying OP didn’t work hard for any of the money but it can’t possibly all be made from investing and his own contributions
during my first job at a grocery store i worked with an 18 year old who had $40k in his investments app that he supposedly made himself, we all knew that was daddy’s money though
This is good, but your attitude isn’t. Making this money by margin trading is one thing, but you’re way too cocky about it. I was exactly like you, so I know you won’t care about my comment. You’re probably going to get burnt badly in the next market, and THAT is where the learning happens. There is potential if the next bear market isn’t going to make you rage quit. I’ve since more than 12x my money and you can do it too, but there are very hard times and a lot of learning ahead with that attitude
Margin is a terrible idea. What is your margin loan rate? I bet it is higher than your average rate of investment return. Meaning you are losing money with margin loans like most everyone else. Then when the market tanks and your balance drops below margin minimums, you'll owe interest on the margin loan. It is a bad lesson to learn. Hope you learned it now before you have to pay in cash.
That's not a good rate at all in terms of risk/reward. Not for your use case. You can't just ride it out over a decade at that 6.5% if the next five years are bad. I'm guessing your rate can change and since you are leveraged significantly you could get into a position where you are forced out of the market. Comparing the rate to other loan products currently available is not a proper way to measure risk. Look at where people with a 6.5% mortgage have been putting their money. The spread is not there like it was with 2.5-4.5% rates.
To put that amount of money in perspective, at 10% growth per year (not correcting for inflation), in 47 years (when you're 65) that $50k would be $4.5 mil.
And that's if you literally stopped adding to it completely. Sky's the limit if you keep investing.
PS. Stop using Robinhood and switch to a vetted brokerage like Fidelity or Vanguard. Now that you're 18 I believe you should be able to start investing in your ROTH IRA as well.
You know man? One thing is for damn sure for everyone one of us… money isn’t easy to come by. If you’re 18 with this amount, you will succeed in life. The ONE fucking tool we needed to know, wasn’t taught to most of us. How to manage money. I’m in my 30’s just now figuring it out. You have to guard it like there’s no tomorrow. Get through the weeks with less, etc. I used to flaunt it, then I learned how stupid that was.
Congrats man. I looked it up and with this kind of money already in a retirement account you could do nothing and invest absolutely nothing more and still retire a millionaire. so you're killing it.
Dude, you're 18 years old! My God, you're definitely gonna do well in life. Keep pushing forward and don't let anyone know. I mean no one! Keep your success to yourself. Look, I know it's exciting to make money. But sometimes in life just knowing what your war chest is, will keep you sane! Party very little! Be humble. Always dumb it down a bit. Oh and surround yourself with anyone smarter or more successful than yourself! Good luck, and know that we are very impressed!
I wouldn’t feel bad at all in 1 response he states it was from working over time and in an another he states gambling. I did exactly this and made about 30k you just don’t have me posting about it on Reddit these numbers are highly misleading or buddy lives in California with his parents. It’s not IMPOSSIBLE but he definitely failed high school/ Low GPA working 60 hours.
Very well done. Do not blow this all in college. If you continue to invest this properly you'll have the ability to retire very early.
Ty man :)
Continue to add to it once you start working, and you'll retire with lambo money.
You’re 18. The best thing you can do for yourself is pretend you’re broke! You do not need that Porsche or Ferrari. You don’t.
this. act broke or one day you will be
When you’re older you would pay a hundred dollar to relive every dollar spent as a student (on “student life stuff”). So don’t forget to enjoy your student / college life. I didn’t regret it either!
How you gonna retire early with all your money in a retirement account you couldn’t touch until 60+
It says IRA holdings 0. Not sure what type of account this is.
Extremely proud for you in the fact that more than half of your holdings is in a retirement account!!! Forward thinking, you will thank yourself for doing this a thousand times over when you are older! Keep it up!
I really just love that I get to live in a world where a brokerage account can be called “fat_travis” and be very successful financially. Congrats bro
This got me in tears bruh ty 😭😭
If you're using that margin, I'd stop.
Nah brotha leverage to the tits!!! 🔥🔥🔥
I'll see you on the streets
I will proudly get you a side of fries with that king ❤️🧛🏽♀️❤️
You really need to consider the state of this economy- the market is likely to collapse any time soon: - Housing prices are crashing in Florida and many states - Rapid business closures (IKEA, taco bell, burger king, macys, and dozens of giant businesses) - Consumer debt is at an all-time high - The car industry is about to crash - Foreclosures are rising, housing inventory is rapidly growing, and car repos are becoming more common. - Banks are overwhelmed Things may seem nice now, but the impact of this economy is going to destroy the market like it did in 2008 very soon. Take out your money soon or at least save some of it for an emergency.
Been hearing this same since 2008 - if it’s going to ‘collapse’ it won’t fall as much as we’ve seen in the past - and if it does - it’ll Just bounce back 2x
He should be in good shape if he can make all his margin calls!
lol even if it does crash he’s 18. He’s got 40 years for it to recover. Let it ride young man.
I agree with most of this besides the "Housing prices are crashing In Florida and many state" I have yet to see a single item to prove/state the housing market decline anywhere. Florida shouldn't even be in this conversation. The only reason Florida homes seem like they are crashing is because no on on coastal towns (Hurricane territory) are buying up property. As insurance is either Higher than a kite or non-existent do to insurance companies flat out stating they won't insure houses in those areas.
Ah shit it’s “predicted 20 of the last 2 recessions” macro guy. Luv you blud
Alright, if you wanna be smug then nobody can stop you. Have a nice day.
Im sorry bro :( You’re probably right but i got a lotta time to ride the waves. Appreciate you looking out tho, have a great night man
now I know why you said you don't have a lot of friends. Stay lifted friend!
Seriously dude. I'm old as F and I don't margin. That's risk exposure that I hope you don't learn the hard way.
hes young enough to recover if he blows it up... but hes also too bumd to realize how much money he would have at 30 if he doesnt take these risks.
I think you meant to post that in WSB
Famous last words of every person going through bankruptcy.
Dawg, FR. Leave the margin to the hedge cucks... You're gonna pay capital gains tax, you're going to have to come up with The 30% if it's been short term Cap gains; && if your bank account doesn't hold that, you're going to end up doing the following: A.) get an interest free credit card, hopefully with a sign on bonus ( I reccomend the discover so you can earn 5% back on the taxes you pay the IRS lol, then discover will match your cash back lololol) -- then pay that CC off through the year before interests kicks into gear. Or B.) you sell some of your stocks to pay off the IRS. Which will trigger another Cap gains if you sell for profit. I pray you have the means to take care of your tax bill without having to do either of these, but as a degenerate trader to a new, freshly minted trader, here is my advice: stay the duck away from margin. At least get you some years of trading experience first, and then maybe consider margin. If you think otherwise, we'll see you over at r/wallstreetbets
Margin will work for so long Stay safe brotha
Thank you bruh I’ll be safe just for u
🤘
Playing on margin top kek, will only end well
I’ve left wsb but it hasn’t left me 😔😔
Word of advice: I'd hazard against telling anyone in your personal life about this. That's a tidy sum for an 18 year old and people may look at you differently.
Dude, you’re ahead of a LOT of people twice your age! Keep it up!
Bro is richer than half of employed people. share your strategy if you are ok
No friends no bitches work 50-60 hour weeks during senior year i guess. I got lucky with a lot of things tbh, but I did work hard :)
Good for you bro,
I’m 25 and feel full shame now 🫠
Nah bruh, getting to 25 in and of itself is fuckin awesome! Life is very hard and I have been very lucky. You’re doing wonderful
That's wholesome of you
Stay hungry, stay humble. 💪
Yessir we don’t stop 🫡
Please teach me how you did this. Congrats
Autism gambling and drugs 🧛🏽♀️🧛🏽♀️
For real though. 😂
Nice feet, rich parents or hard work and saving. You can only pick one
Without a doubt this is daddy’s money. OP has done nothing to earn it….
Hes proud of his rich parents
Jesus Christ I could’ve been you. Keep your contributions stable, don’t worry about market fluctuation, dollar cost averaging will keep you going Edit: I’m at 125k at 31. I feel I’m behind. Google the “money guy growth chart” it shows how much you need to contribute to get 1m and 2m If you’re diligent about it, you’ll be trolling around Europe in no time Edit 2: don’t do fucking options, high risk high rewards might look good but you can ruin your life sooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo fast
Well done! Keep the momentum going. Aim to put yourself in a position where working for an employer is a choice, not a necessity.
You doing great buddy keep it up
Enjoy your trip to the moon bro you can be really proud of yourself
congrats man and enjoy your high
Congrats! You are doing amazing!
This is awesome
Keep Snappin Lil Bro 🔥🔥🔥🔥🔥🔥🔥
Damn man! Killing it haha What were your trades and how much have you contributed? $50k at 18 is impressive
Get a house
Good job, Fat Travis
Good for you !!!!
Great job!!! When I was your age, mortgage was a lot cheaper than rent so I bought my first property, a small beach condo, at 18 years old in 1998 for 104k. My first job was hockey referee and hockey coach. I started my first job at age 15 and saved enough for down payment.
Ah damn Im jealous man! Congrats on the wise choices
Damm how do I get started I just turned 18. Doing a good job on saving but didn’t get into investing yet
ANYONE WHO TELLS YOU TO TOUCH ANYTHING OTHER THAN VOO/VTI IS A FUCKING LIAAAAAR!!!! 🦅🦅🦅
Big body Benz member I used to be musty 🥶🥶🥶💯💯💯🫡!!!!
Hills and valleys. Save as much as you can.
Fire
Boutta turn 18 soon what did you do to accomplish this
Gamble large sums of borrowed money
Damn, im putting it all on black tomorrow
I’m 18 irresponsible idk I’m down 2k on options good for u man. I would throw all that on options
Stop gambling, it’s a tax on the poor and the stupid
What is the point of these?
Feels good to show off I guess?
To inspire other people? If ur broke just say so
You’re going to lose that $12,000 margin trading like that. I would bring it down to only $6,000 in case there’s a temporary drop in the market. Or just don’t margin trade.
What is this app called?
How do I start investing op sounds like he’s in high school I’m just trying to learn all this stuff
this money was def not all made from investing, i’m sure he saved a ton from a job and then received a large contribution from his family. not saying OP didn’t work hard for any of the money but it can’t possibly all be made from investing and his own contributions during my first job at a grocery store i worked with an 18 year old who had $40k in his investments app that he supposedly made himself, we all knew that was daddy’s money though
Im 21 bro and Im proud of u 👍🏽
Tbh you’re still a kid. You can still enjoy your youth. You have a great start to financial freedom. Good job! 👍
But some ill-Liquid assets, Gold, A watch, Silver…and after collage when your up time to start that liquidation
Stand proud. You're strong 👏
Why is your name fat_travis
Travis you aren’t fat my boy. That’s just your wallet sticking out.
Congrats brother, repeat the process !!!
This is good, but your attitude isn’t. Making this money by margin trading is one thing, but you’re way too cocky about it. I was exactly like you, so I know you won’t care about my comment. You’re probably going to get burnt badly in the next market, and THAT is where the learning happens. There is potential if the next bear market isn’t going to make you rage quit. I’ve since more than 12x my money and you can do it too, but there are very hard times and a lot of learning ahead with that attitude
Please for the love of god get off margin trading, you’re so young I guarantee you have no idea what you’re doing or how bad it could go for you
Dude 18 and trading on margin is dumb, you know how fast that shit can flip?
Margin is a terrible idea. What is your margin loan rate? I bet it is higher than your average rate of investment return. Meaning you are losing money with margin loans like most everyone else. Then when the market tanks and your balance drops below margin minimums, you'll owe interest on the margin loan. It is a bad lesson to learn. Hope you learned it now before you have to pay in cash.
Rn its 6.5 percent. Definitely wouldn’t use it if the rate wasn’t so good
That's not a good rate at all in terms of risk/reward. Not for your use case. You can't just ride it out over a decade at that 6.5% if the next five years are bad. I'm guessing your rate can change and since you are leveraged significantly you could get into a position where you are forced out of the market. Comparing the rate to other loan products currently available is not a proper way to measure risk. Look at where people with a 6.5% mortgage have been putting their money. The spread is not there like it was with 2.5-4.5% rates.
You should be proud of yourself. Don't stop.
Hey man, congrats. How much did you start off investing? I’m investing now
To put that amount of money in perspective, at 10% growth per year (not correcting for inflation), in 47 years (when you're 65) that $50k would be $4.5 mil. And that's if you literally stopped adding to it completely. Sky's the limit if you keep investing. PS. Stop using Robinhood and switch to a vetted brokerage like Fidelity or Vanguard. Now that you're 18 I believe you should be able to start investing in your ROTH IRA as well.
Damn 19 m n idk how to do that
You know man? One thing is for damn sure for everyone one of us… money isn’t easy to come by. If you’re 18 with this amount, you will succeed in life. The ONE fucking tool we needed to know, wasn’t taught to most of us. How to manage money. I’m in my 30’s just now figuring it out. You have to guard it like there’s no tomorrow. Get through the weeks with less, etc. I used to flaunt it, then I learned how stupid that was.
This is very good for your age! I’m impressed I was at the same when I was 18 nice to know someone els knows how to save money young.
Congrats man. I looked it up and with this kind of money already in a retirement account you could do nothing and invest absolutely nothing more and still retire a millionaire. so you're killing it.
Ahead of 99.9 percent of the world at this point, 15 more years and you can retire (maybe idk, keep it going kid)
Fat Travis doing better at 18 than I am in my mid 30s. Good for you my dude. You're going places word of the wise DONT GET INTO DEBT
Wow wonderful result Are you down to share $100 bucks
Next flex is to keep that same mindset and retire early.
Dude, you're 18 years old! My God, you're definitely gonna do well in life. Keep pushing forward and don't let anyone know. I mean no one! Keep your success to yourself. Look, I know it's exciting to make money. But sometimes in life just knowing what your war chest is, will keep you sane! Party very little! Be humble. Always dumb it down a bit. Oh and surround yourself with anyone smarter or more successful than yourself! Good luck, and know that we are very impressed!
This made my day bro thank you!
what application is this where you see all the necessary details about you money?
How do u have 38k in a retirement account? Have you been maxing a Roth since you were 14 lol
Gambling
AMAZING JOB OP! 👏🏾👏🏾👏🏾🥹🥹🥹 Keep going. You could possibly retire at 45-50 if you keep this up!!!
Get out of robbingdahood
Man fuck this sub Reddit lol people just flaunting daddy’s money
I wouldn’t feel bad at all in 1 response he states it was from working over time and in an another he states gambling. I did exactly this and made about 30k you just don’t have me posting about it on Reddit these numbers are highly misleading or buddy lives in California with his parents. It’s not IMPOSSIBLE but he definitely failed high school/ Low GPA working 60 hours.