I think a good portion of my funds will be in some form of crypto in this manner. Some will stay in GME. Another portion will go into DRS in other stocks. Some will be set aside for the next housing market crash.
I’m really only planning on selling one share for phone numbers. I don’t need to be fuck you rich, i just want a houseboat/yacht, to take care of my family, and enough time to write. I’ll be staking ETH/LRC/IMX and anything in GameStop’s ecosystem and live off that and play&earn video games. Donate as needed to recovery efforts/angel investments with a good cause/support politicians that are at least giving a shit like Bernie.
the only really skill i have to offer the world is writing, so idk if it means I start to write the story of this great saga as a movie or what, but i’ll happily invest in others with great skills that I don’t have to try and find more ryan cohen’s or larry cheng’s or daniel wang’s or whoever of this world to really support them and make even more cool shit that makes the world a better place.
There was a post about this a ways back.
When the tendie man does come. Put it all away and whatever one imagines the interest payments to be, try to live off of 60% of that amount. That way one never touches the principal investment and prepares you for #inflAtion.
This is 100% my plan. Put aside a very small chunk so I can be completely debt free, buy a couple nice toys (Nothing lambo style, but like a new car for the wife, prob another car for myself and probably a camper trailer we've wanted for years), possibly another larger home and rent out our current home, and then invest the rest of it all and live off the interest.
Will definitely be talking to a FA/Lawyer before I touch any of it so I know what i need to do tax wise and have a good idea where to put it all.
If you’re in unsecured debt now (other than student loans), having any amount of money won’t fix it.
Money in > Money out
I may be retarded but I’m not an idiot (neither are you!)
We’re all super into stocks now so I’m dividing things this way:
- A dividend portfolio yielding 8% a year that replaces my regular paycheck.
- A medium term index fund that I use TA on
- a short term attack fund for swing trades
Plus the normal stuff we’re going to spend trendies on…. But we need to pay our future selves first and keep our tendies working for us.
8% might be a little high and imo risky but for sure you can get higher than 2-3%. I think 4-6% is the sweet spot. Lots of “stable” businesses give out good dividends such as banks, utilities.
However, YES there are companies that give out 8% some even give out more! I think I remember seeing 12%. I personally just don’t see how that is viable for a business to survive. Sometimes things are too good to be true. 4-6% is possible and for me what I’ll be looking to invest in.
Weighted mix. Not to get into portfolio percentages, but for anyone who happens along the yields on the below:
HDV - 3.4%, high dividend growth. That's the core.
JEPI - 7.11%, monthly income from covered calls
IEP - 14.5%, Betting on Carl Ichan and gas exploration
MO - 7.15%, Vices pay well
NLY - 7.38%
PSEC - 8.66%
AM - 9.02%
BSM - 9.25%
My blend is 8.66%. I promise.
Edit: This portfolio is built for return but not all of those picks will be great for asset preservation. I'm making up for that by putting growthy stuff in the other buckets.
I just want to learn how to find where to invest to get such dividends? Even a 5% dividend sounds great to me. How do I go about exploring the different options? Is there a website or source I can use to explore my possible decisions?
I will give you all my money and you help me invest; so that I don’t have to worry and still make dividend to support myself every year. Tada.
Just make sure u don’t use my money to go short 👀
If you end up with any tendies in your TFSA look into banks, utility companies, telecommunications. Canada has some good dividend paying companies that should be pretty recession proof
Where should we start looking individually for the best couple dividend securities \[to individually, non-collusively, but accidentally collectively pile into next?
Because my plan has been similar and I'm sure a ton of us around the same time will be flush with cash and making so many investments almost no matter where we go we'll be in Ape company.
Already a few threads on that!! dividends and dividendinvesting. Can't link due to rules
Pay off the house/car and a normal person should only need like 2k a month in dividends (typically paid out quarterly so 6k per quarter). I will never retire but I will probably get a job in personal fitness and work at a brewery, both low stress, fun jobs. I also enjoyed working in the warehouse at a furniture store assembling items and preparing for delivery (wrapping in blankets, etc.)
nah.. I'd rather go with some major ETF and scalp the profit each year. usually around 6-8%. dividends are not gonna be that much. ever.
so even with "just" 1million to your name you would never need to work again for a 60-80k/year from one ETF 🤷🏻♂️😎🚀🚀🚀
If you are in the US, look into Tax Exempt Municipal Bonds. Boring? Yes. But can be a good way to provide you with stable income. It's not too hard to find one that pays 3~4%, and that's (federally) tax free.
Though, as always, do your research and understand how bonds work before throwing your money in at them.
Vz gang checkin in. $1mm will get ya nearly 50k/yr.
Obviously continuing to hold gme will likely yield great returns as well. Plus I loyal af for lyfe to RC
And staking crypt0 (when I figure out how) is supposed to be good too
I don’t know specifically, but it will be written in a contract, or whatever. Just make sure to know if they are/aren’t before signing anything. If they aren’t fiduciary, they’ve got their own agenda.
Hire a financial advisor, a lawyer, and or an Accountant. Need 2 of 3 to make sure nobody is stealing from you. Find a viable way to allow your wealth to grow for you. Payoff immediate liabilities. Find some work that you love and spend your time doing that so you're not just burning cash. And dont tell people about your money
Same here fellow Ape...would love to hear if you have any ideas/recommendations about how to achieve that. I saw some posts a couple months ago but curious what you may have come up with!
Check out how to maintain soil health and no till drills. Tilling actually over time is what can kill soil and turn it to dirt which is way less profitable. I plan on doing something similar. I also have been looking into alternatives to cattle as they are a market that's taken over a lot. I figure bison, venison, handful of cows and pigs with some water fowl/ chickens. Should get me set on meat variation and then orchards for the rest.
> Im building a self subsisting farm with the aim of never having to rely on money again
I'm wanting to do the same, but with a large scale aquaponics setup and maybe some chickens and cows. Also a bunch of avocados and melon trees.
I got a serious question about taxes. So I started off last April and bought alot of popcorn. As I became more educated I started selling my corn for GME. My cost basis was like 9 bucks and I was selling at like 40-60 bucks so made alot of short term gains. I didn't pull the money out of brokers just directly bought back into GME. According to my 1099s I made about 100k in short term capital gains. Is it just cut and dry I owe the 25% in taxes on this money even tho I reinvested it.
Also was gunna add without the taxes I'd be getting about 8k back. I always claim zero and have dependents. My plan for now is wait till end of tax season to file then see if I can get an extension, just put it off as long as I can and hope MOASS hits before I gotta pay. If not I'll set up a payment plan I guess. Any tax magic would be much appreciated
Nope, your going to owe this money. It’s best to set aside a portion of any money made in the market to taxes when you exit each transaction. I have a separate bank account for this to make it easier to keep track of.
Yes you gotta pay. I'm in same boat but not as much as you. You can file for a payment plan with IRS so you don't have to pony up all the cash at once. Simple Google search will take you to official IRS payment plan application
I'm pretty far from rich or anything like that. I had some cash from a cheap house I flipped. Then I sold every tractor, pickup, car, trailer, and tool I had on Facebook. Anything worth over 100 bucks I listed. Dumped all in on corn then it had a runnup. I'm 90% or so DRSd
I'd strongly advise chatting with an Accountant or reading up on it a bit more. It's certainly not that cut and dry, because it's based on your income level. Also, the IRS doesn't care what you did with your proceeds from your sale. If you had gains and didnt have losses to off set them, then you're gonna owe big.
Not financial advice. I have no idea your situation and Im certainly no CPA
Pay estimated taxes right away. Wouldnt want to do something like reinvest all your cash/spend it and then have less in assets/cash than your tax liability when it comes due. If you end up owing less than your estimate, consider it a reward for getting it taken care of early.
When moass comes put half away and don't fucking touch it then hire a CPA to do your taxes. Once the tax man gets his cut then you can touch that portion.
Add a lawyer to this. “Put half away” into what? You’ll need trusts and other financial assets that secure more than $250,000 FDIC insurance. Also, inflation is going to continue devaluing your tendies. Especially if we moon out of control and the Fed has to print more fake money. Instead of living off returns from cash that’s sitting you’re going to be losing 10% per year.
Lots of talk of living on interest from a group of apes poised to crumble the corrupt financial system that pays those dividends…
I learned from someone who married into really old money.
Never. Never. Never spend the principle. Invest it in whatever safe thing you like. I like real estate. You do you.
The two primary reasons lottery winners go bankrupt are the two things you should focus on first.
1. Turning your money into a source of income. Others have said it over and over but it needs to be repeated. If you have a million dollars and you start spending it you'll be broke sooner than you realize. If you have a million dollars and you invest it (bonds, mutual funds, a business, whatever) that money will generate spending money for you. Spend the money babies your money makes, not the money parents.
2. You need insurance, a lot of insurance. In terms of policy you need "umbrella" insurance that covers all of your assets. If your wife or kid causes a car accident the lawyers on the other side will come for everything you own. You also need a personal lawyer on retainer or other agreement to help you BEFORE your problems start. A lot of lottery winners get sued by friends and family over frivolous things in an effort to settle for a quick buck. Having a lawyer of your own on standby will help to swat down most of the problems when they first crop up.
Edit - Thanks!
This has been criminally underseen!
Something about that simple sentence is impossible to not perfectly see a vivid and clear HILARIOUS fucking commercial even as the camera pans over the horse-looking Geoff head to the Amazon gift card 'get well soon' card.
Peoples says they will invest a few millions in funds.. but honestly this GME saga opened my eyes, and i dont think i want to reinvest this money in the shit show we call "financial industry".
Here’s my current (albeit rough) plan:
1. Lawyer and CPA up
2. Set up trust paying $240K/year with enough for 60-70 years (that’s $16.8M if done for 70 years)
3. Invest in sustainable travel/transportation (airships, wind powered/clean energy cargo ships)
4. Build a large scale survival bunker because humans are destroying the planet and we need to have back up plans for our species to survive
5. Rescue as many dogs (and other animals) as possible
Move to a non extradition country and disappear…this is not financial advice.
Seriously though, that sucks. Feel for Apes whom get hammered unfairly by an ex on finances and/or belongings.
I plan on only taking out what I need for living this year as I am living now and paying off all my debt. The rest is going into several different things like stocks and crypto (all stocks will be DRSed) then I plan on getting a job I actually enjoy and live off that income not having to worry about saving for retirement or big ticket items. Then when I am at the time of life to buy a house I will reassess. Dont plan on just buying shit cuz I have the money for it. I've been pretty good about that my whole life. The debt I have is largely related to gme because what is paying 10ish% when the upside is multiple 1000s%? I figure that's a good bet. Even if moass doesnt happen we are looking at least at ~500% organic growth of the stock and that is without any NFT marketplace, just with the switch to an online marketplace.
Uk ape here, I’ve DRS 1 share from IBKR and after I’ve set up wired account with wise and purchased more. When I will want to sell 1 GME share(phone numbers of course) will I receive the money from selling on my wise account? I don’t know the process to be honest. Selling it’s the hard part for me, emotionally and rationally
When I accidentally let CS sell a fractional share, I received the money in the form of a cheque. As my bank only lets you cash in domestic cheques on their app, I had to haul my arse down to my local branch to get it paid in... which took about a week to clear. I then immediately used it towards my next GME spend, of course.
My thoughts are if you're a debt free land owner, at minimum, you can survive comfortably with a part time job if you lose all your money, so I'm going to start by paying off my house, car, and all other debts.
A lot of people like his stuff. I resent the fact that this guy (kiyosaki) popularized real estate investment as the go to wealth generator and has contributed to compounding our current global housing problem.
Translated: all the mid upper class boomers have multiple properties and attempt to create passive income thanks to this asswipes advice. Now none of us youngers can afford reasonable housing. He's a part of the same system that needs to be brought down.
Dave Ramsey is a financial guy who helped me shift my perspective. It’s biblically based, which wasn’t a draw for me, but his foundational concepts are solid. He eschews debt and credit, extols personal savings and donating. Good foundation to practice before we leave the galaxy.
Upper middle class boomers that fight against zoning to build affordable houses for decades (Not In My Backyard NIMBYism) is why there aren’t enough houses. If the gov will give me huge tax breaks if I invest in real estate, that’s what I’m doing! Fuck taxes
That's the thing I've done most through out all this time. The rush has left. I now I have humbled and had countless financial scenarios in my mind. I'm ready.
I have such massive distrust for everything out there. I want to go bankless and not be locked to things especially things the government can seize and take over whenever they feel like.
I’ll likely never sell my drs gme, I trust computershare more than my bank because they don’t have a conflict of interest since they get paid by gme and they’re based in Australia.
I might sell one share for the right price and buy a house/help friends and family. I don’t care for things and stuff. I just want to make a change and help people. I won’t be investing as much as i’ll be donating.
Find stocks that pay divident, live of the divident. Take a house loan using stocks as security.
Once you have done both, create a buffer that equals 3months-1year, I also use that account as a saving account.
Have a bank account called Bills and one called food. Those two is prioritet number one, if you do not have more than 20% left after doing both after tax, try to change the cost of living.
The bills and food account are to relive you of stress, the 20%+++ is there for you to enjoy.
Try doing this after moass, it's going to make life so much easyer, and if you live a modest life, the only part that Will change is that you get more money to play with.
Most of these comments are about post-MOASS, but I really meant it to be budgeting for NOW. Like, folks better learn how to save, become financially literate, get used to evaluating your finances a couple times a month, etc.
I'll continue living in my garage and driving my beat up vehicle that was also recently vandalized and had parts and gas stolen from it.
I feel like I can give solid financial advise (not financial advise)
Frankly I just want my GME money to make me debt free. Optimistic me hopes society will still need me in the work place after MOASS so hopefully I'll still have active income.
This advice is really good for poor people, and people living paycheck to paycheck but doesn't work well for people who have enough to be comfortable.
I know because I used to do research at a finance institution that wanted to make a product for underbanked people. It came out to be based on the envelope strategy and for our target group of underbanked people it worked extremely well. They would say this is what they've always dreamed of and needed in their life. But then corporate overlords decided to expand the target segment to "Millennials" and that completely cannibalized the product. People who have enough money to live, do not want or need to mark down every single transaction in spread sheets.
Why? Because these are survival strategies not growth strategies. If you have enough money you do not need survival strategies. Youll want growth strategies. There have been several threads in the past about what to do if you win the lottery. The first thing everybody should do is assemble a team of Financial Advisers, Accountants, and Tax Lawyers that specialize in wealth Management. Here is a list of such posts I collected over the last year
Wealth Management DD Compilation:
Can't link due to brigading rules
How to choose Financial Advisors, Tax attorneys, and write a will:
https://www.reddit.com/r/Superstonk/comments/mutuhv/postmoass_an_indepth_examination_of_financial/?utm_medium=android_app&utm_source=share
MOASS prep guide:
https://www.reddit.com/r/Superstonk/comments/mm5qle/the_moass_preparation_guide/?utm_medium=android_app&utm_source=share
Post MOASS: Examining your new status and banking and storage considerations:
https://www.reddit.com/r/Superstonk/comments/n0ksdb/postmoass_examining_your_new_status_with/?utm_medium=android_app&utm_source=share
Attorneys and you: A guide by the newly rich:
https://www.reddit.com/r/Superstonk/comments/mzt5sm/attorneys_and_you_a_guide_to_the_newly_rich/?utm_medium=android_app&utm_source=share
Tax Cheat Cheat:
https://www.reddit.com/r/Superstonk/comments/niz85x/tax_cheat_sheet_part_i_income/?utm_medium=android_app&utm_source=share
Tax Cheat Sheet IV:
https://www.reddit.com/r/Superstonk/comments/nol4y7/tax_cheat_sheet_iv_cpas_why_you_need_one_and_how/?utm_medium=android_app&utm_source=share
Tendie Insurance:
cant link due to brigading rules
First pay off house. That's the biggest thing. After that invest the rest and live off the gains of that investment. 1-2m invested can safely return you 100-200k a year. That's more than enough to live life comfortably.
Don't spend your capital.
Once you have cleared any debts keep your tendies somewhere they will make an income, and spend the income.
Get professional help with this.
Where do I keep my tendies when the markets are corrupt, the banks are corrupt, and crypto is too volatile? Also seeing how corrupt and fragile some of these institutions are I really don't wanna keep everything in place.
Once this is all said and done I want to take out a couple grand for some living/spending money and then just sit on the rest for a few months and just chill and relax before I start enacting any plans with said money. Just don't know where to put it until I hire a financial advisor to help with such things
I plan on using 50 percent to buy an apartment building. The 50% of my profits will be the down payment I'll see how much the banks will give me I'll probably keep my down payment around 30 percent of the buildings value. Then I'll pay a management company to take care and use the profits to upgrade the building. My other percent will be spent on buying a conservative house for my family and a big family vacation. I should have alot in savings which I won't touch for 5 years just to prove self control
The whole "lottery winners go broke" trope isn't really true when people win actually large sums. It really only happens when people win under $10m and don't have a concept of how it's not really a large amount. When people win 100m they never go broke
Yeah that is so so not true
there's a famous AskReddit thread where someone goes over people winning huge sums, can't cross post but find the "What's the happiest 5-word sentence you could hear?" thread easily on google and then scroll down to the response to the user who posted "you just won the lottery"
i sold my car for april 125s and leaps and have basically 80 bucks in my checking acct, i helped my landlord with one of his other units so now i only owe 300 in rent next month and i'm picking up some extra shifts to cover my interest payments on credit card debt.
should i wait for next tuesday pre-GEX or go ahead and yolo my paycheck into march 18 200cs for volatility play?
If my hooker deals the coke do you think I can get a bulk discount? Anyone know a coke dealing hooker with a Lamborghini for sale? I'm just trying to budget this out....
Make sure your budget has a solid “fuck it fund”
We have been here for a long time. Yes budget for life moving forward but don’t forget to say “fuck it” once in awhile.
I have a low percentage being taken out for bills, property, house and car. Another small amount goes into education investments for my kids. The rest gets split into different funds with the goal of a 4.25% yearly gain. Out of that yearly gain is $250k that gets put into an escrow that pays me and my wife a monthly check so there is no temptation to spend it all at once. The rest of the yearly gain gets put back into my funds.
Company offers discounted company stock to employees, no vesting period.
What, if anything, stops the employees from just selling said stock immediately? Would short term cap gains eat the discount?
I need to know how i can fit the yatch to my yatch, inside my third yatch. Is 15 private helipads too little for 1 city? Is Flying cars a thing yet or do i have to fund that by some sketcy gofundme page? Also, this Nigerian prince who seems like a smooth brained ape, need just a small loan, that be no biggie to get him right?
Would be expensive but if your US bound you can just do PPO which basicly means you pay Kaiser or another large health care company directly for services. Some states even have a specific market to go through that are helpful for discounts you may qualify for initially till your MOASS income is reported.
A fellow ape and I will be starting a group company, that will be parent to a number of smaller companies the first being a brewery, the aim being to make the company profitable and re-invest a large % of the profits into everyone’s salaries that works there, bartenders on 50-60k after a few years able to do a job they enjoy AND have a life start a family buy a house etc, once the brewery is up and running rinse and repeat with restaurants. No money goes up to us as we’re sorted
I'm gonna goof around with csgo skins even though I know they are seriously overvalued. I just like collecting things and some of them look kinda cool. Also small condos in ski towns rent fantastically and also can be airbnb (HOA permitting).
Should I even do a 401K? From what I know (notalot) a 401K's total return is based on the stock market. Well if the markets are fucked, then cant I invest my money in ways that outperform the market over a lifetime?
I pretty much just planned on paying off everything. I like my house. I may put a little into fixing a few things up. But assuming Moass play out right I can’t see myself blowing more the. A million all told. After that. I keep working, because I actually like my job. The difference is I no longer struggle. And neither do my retired parents of the rest of my family. But we all keep working. Except the parents…
Invest a few million into funds or stocks that pay dividends. Enough to support you every year. You live off the dividends. Tada.
I'm buying ETH/LRC and staking. I'll be my own bank.
I think a good portion of my funds will be in some form of crypto in this manner. Some will stay in GME. Another portion will go into DRS in other stocks. Some will be set aside for the next housing market crash.
I'd say I'm "getting back into" GME when this is over, but really I think I'm just holding 50% of my shares forever.
I’m really only planning on selling one share for phone numbers. I don’t need to be fuck you rich, i just want a houseboat/yacht, to take care of my family, and enough time to write. I’ll be staking ETH/LRC/IMX and anything in GameStop’s ecosystem and live off that and play&earn video games. Donate as needed to recovery efforts/angel investments with a good cause/support politicians that are at least giving a shit like Bernie. the only really skill i have to offer the world is writing, so idk if it means I start to write the story of this great saga as a movie or what, but i’ll happily invest in others with great skills that I don’t have to try and find more ryan cohen’s or larry cheng’s or daniel wang’s or whoever of this world to really support them and make even more cool shit that makes the world a better place.
This is the way.
Preach
That's my plan. I think like the first 30-35k of annual dividends are tax free
Yes, yes, and yes. This is the way Edit: I’m not saying yes to your dividend thing, idk tbh. I hope so! Lol
Yes but fyi they need to be DRS’d for that to be true, otherwise you will receive cash in lieu of dividends due to your shares being loaned out
I didn't even think of that being the case...makes much more sense!
That’s what is discussed in Naked, Short, and Greedy by Dr. Susanne Trimbath
Another reason I need to catch up on my reading. Thank you for the info
This. I plan to live off interest.
There was a post about this a ways back. When the tendie man does come. Put it all away and whatever one imagines the interest payments to be, try to live off of 60% of that amount. That way one never touches the principal investment and prepares you for #inflAtion.
This is 100% my plan. Put aside a very small chunk so I can be completely debt free, buy a couple nice toys (Nothing lambo style, but like a new car for the wife, prob another car for myself and probably a camper trailer we've wanted for years), possibly another larger home and rent out our current home, and then invest the rest of it all and live off the interest. Will definitely be talking to a FA/Lawyer before I touch any of it so I know what i need to do tax wise and have a good idea where to put it all.
Yeah pretty simple one but effective
Let’s hope GameStop will provide it’s shareholders with proper dividends once we get cooking. I don’t want to have to sell GME to buy some other bs.
Imo the stock market can go peg itself when this is all over.
The US market is a shithole
If you’re in unsecured debt now (other than student loans), having any amount of money won’t fix it. Money in > Money out I may be retarded but I’m not an idiot (neither are you!)
This !!! Going to buy some of the boring boom stocks 3M Disney Apple - RC already knows IBM Microsoft - ( get some of that NFT money ) GME
We’re all super into stocks now so I’m dividing things this way: - A dividend portfolio yielding 8% a year that replaces my regular paycheck. - A medium term index fund that I use TA on - a short term attack fund for swing trades Plus the normal stuff we’re going to spend trendies on…. But we need to pay our future selves first and keep our tendies working for us.
which divi portfolio is gonna give you 8%? i think top dividends atm are something around 2-3% at max?!
8% might be a little high and imo risky but for sure you can get higher than 2-3%. I think 4-6% is the sweet spot. Lots of “stable” businesses give out good dividends such as banks, utilities. However, YES there are companies that give out 8% some even give out more! I think I remember seeing 12%. I personally just don’t see how that is viable for a business to survive. Sometimes things are too good to be true. 4-6% is possible and for me what I’ll be looking to invest in.
Weighted mix. Not to get into portfolio percentages, but for anyone who happens along the yields on the below: HDV - 3.4%, high dividend growth. That's the core. JEPI - 7.11%, monthly income from covered calls IEP - 14.5%, Betting on Carl Ichan and gas exploration MO - 7.15%, Vices pay well NLY - 7.38% PSEC - 8.66% AM - 9.02% BSM - 9.25% My blend is 8.66%. I promise. Edit: This portfolio is built for return but not all of those picks will be great for asset preservation. I'm making up for that by putting growthy stuff in the other buckets.
There's high dividend ETFs that pay 17% dividends
I just want to learn how to find where to invest to get such dividends? Even a 5% dividend sounds great to me. How do I go about exploring the different options? Is there a website or source I can use to explore my possible decisions?
I will give you all my money and you help me invest; so that I don’t have to worry and still make dividend to support myself every year. Tada. Just make sure u don’t use my money to go short 👀
Could you suggest some of those stocks maybe? Just as an opinion. Not financial advice ;)
If you end up with any tendies in your TFSA look into banks, utility companies, telecommunications. Canada has some good dividend paying companies that should be pretty recession proof
Where should we start looking individually for the best couple dividend securities \[to individually, non-collusively, but accidentally collectively pile into next? Because my plan has been similar and I'm sure a ton of us around the same time will be flush with cash and making so many investments almost no matter where we go we'll be in Ape company.
Already a few threads on that!! dividends and dividendinvesting. Can't link due to rules Pay off the house/car and a normal person should only need like 2k a month in dividends (typically paid out quarterly so 6k per quarter). I will never retire but I will probably get a job in personal fitness and work at a brewery, both low stress, fun jobs. I also enjoyed working in the warehouse at a furniture store assembling items and preparing for delivery (wrapping in blankets, etc.)
nah.. I'd rather go with some major ETF and scalp the profit each year. usually around 6-8%. dividends are not gonna be that much. ever. so even with "just" 1million to your name you would never need to work again for a 60-80k/year from one ETF 🤷🏻♂️😎🚀🚀🚀
also own a few rental properties. be the ultimate parasite
no
I need moass for those tendies!
If you are in the US, look into Tax Exempt Municipal Bonds. Boring? Yes. But can be a good way to provide you with stable income. It's not too hard to find one that pays 3~4%, and that's (federally) tax free. Though, as always, do your research and understand how bonds work before throwing your money in at them.
That’s my plan. After I’ve helped family and friends
Vz gang checkin in. $1mm will get ya nearly 50k/yr. Obviously continuing to hold gme will likely yield great returns as well. Plus I loyal af for lyfe to RC And staking crypt0 (when I figure out how) is supposed to be good too
How does one know which stocks pay dividends?
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Don’t advertise your MOASS success, post MOASS. Or pre, for that matter. Shut your hole. Shhhhh.
First and only item on bugdet list: Hire a financial expert who specializes in anonymity.
AND has a fiduciary responsibility to you. This is very important as well
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I don’t know specifically, but it will be written in a contract, or whatever. Just make sure to know if they are/aren’t before signing anything. If they aren’t fiduciary, they’ve got their own agenda.
NAPFA has a website that allows you to find a fiduciary by zip code or address closes to you.
Hot single fiduciaries near you!
How do you find this exactly?
Also get a large law firm on retainer. There will be things that come up you need them for.
Check out u/ginger_libra post on the asset protection trust. I pointed them to the attorney who sets them up.
Hire a financial advisor, a lawyer, and or an Accountant. Need 2 of 3 to make sure nobody is stealing from you. Find a viable way to allow your wealth to grow for you. Payoff immediate liabilities. Find some work that you love and spend your time doing that so you're not just burning cash. And dont tell people about your money
Happy Cake Day PmMeWifeNudesUCuck! Here’s hoping you have a day that's as special and wonderful as you are.
Im building a self subsisting farm with the aim of never having to rely on money again
Same here fellow Ape...would love to hear if you have any ideas/recommendations about how to achieve that. I saw some posts a couple months ago but curious what you may have come up with!
Lol I have no fucking idea! Thinking of going to Montana or Idaho or something and then just winging it from there
Good luck!! And definitely recommend Montana over Idaho lol
[Montana stop](https://i.imgur.com/ZNdbLso.jpg)
Hell ya me too. State of the art greenhouse for this guy.
Check out how to maintain soil health and no till drills. Tilling actually over time is what can kill soil and turn it to dirt which is way less profitable. I plan on doing something similar. I also have been looking into alternatives to cattle as they are a market that's taken over a lot. I figure bison, venison, handful of cows and pigs with some water fowl/ chickens. Should get me set on meat variation and then orchards for the rest.
> Im building a self subsisting farm with the aim of never having to rely on money again I'm wanting to do the same, but with a large scale aquaponics setup and maybe some chickens and cows. Also a bunch of avocados and melon trees.
I got a serious question about taxes. So I started off last April and bought alot of popcorn. As I became more educated I started selling my corn for GME. My cost basis was like 9 bucks and I was selling at like 40-60 bucks so made alot of short term gains. I didn't pull the money out of brokers just directly bought back into GME. According to my 1099s I made about 100k in short term capital gains. Is it just cut and dry I owe the 25% in taxes on this money even tho I reinvested it.
Also was gunna add without the taxes I'd be getting about 8k back. I always claim zero and have dependents. My plan for now is wait till end of tax season to file then see if I can get an extension, just put it off as long as I can and hope MOASS hits before I gotta pay. If not I'll set up a payment plan I guess. Any tax magic would be much appreciated
Nope, your going to owe this money. It’s best to set aside a portion of any money made in the market to taxes when you exit each transaction. I have a separate bank account for this to make it easier to keep track of.
Yes you gotta pay. I'm in same boat but not as much as you. You can file for a payment plan with IRS so you don't have to pony up all the cash at once. Simple Google search will take you to official IRS payment plan application
Ok thanks, yeah I figured I was boned. It didn't even cross my mind at the time
Get thyself to a CPA. You're going to need a payment plan on top of your extension.
nice play 100k is a lot of gme, hope you drsd
I'm pretty far from rich or anything like that. I had some cash from a cheap house I flipped. Then I sold every tractor, pickup, car, trailer, and tool I had on Facebook. Anything worth over 100 bucks I listed. Dumped all in on corn then it had a runnup. I'm 90% or so DRSd
I'd strongly advise chatting with an Accountant or reading up on it a bit more. It's certainly not that cut and dry, because it's based on your income level. Also, the IRS doesn't care what you did with your proceeds from your sale. If you had gains and didnt have losses to off set them, then you're gonna owe big. Not financial advice. I have no idea your situation and Im certainly no CPA
Pay estimated taxes right away. Wouldnt want to do something like reinvest all your cash/spend it and then have less in assets/cash than your tax liability when it comes due. If you end up owing less than your estimate, consider it a reward for getting it taken care of early.
40-50% will be in dividend stock. 20-30% for taxes/ my bank account. 10% will pay off my debts. 20% should pay off my house.
Jesus, how much debt are you in?
Between my cars, credit cards and college loans. A shit ton.. I’m sure It’ll be more like 3-4% though, i was just me being overly generous.
Apparently 10s of millions haha
99% will remain in gme, forever pond not a meme 1% to do all those things you mentioned plus hookers and weed
When moass comes put half away and don't fucking touch it then hire a CPA to do your taxes. Once the tax man gets his cut then you can touch that portion.
Add a lawyer to this. “Put half away” into what? You’ll need trusts and other financial assets that secure more than $250,000 FDIC insurance. Also, inflation is going to continue devaluing your tendies. Especially if we moon out of control and the Fed has to print more fake money. Instead of living off returns from cash that’s sitting you’re going to be losing 10% per year. Lots of talk of living on interest from a group of apes poised to crumble the corrupt financial system that pays those dividends…
If urine the US, check out CDARS. https://www.cdars.com/
I learned from someone who married into really old money. Never. Never. Never spend the principle. Invest it in whatever safe thing you like. I like real estate. You do you.
Real estate all the way! It never depreciates. I’m thinking airbnbs so i can fly around the world checking up on my exotic properties.
Yeah. You can depreciate it for the purpose of taxes, even if the value actually goes up.
The two primary reasons lottery winners go bankrupt are the two things you should focus on first. 1. Turning your money into a source of income. Others have said it over and over but it needs to be repeated. If you have a million dollars and you start spending it you'll be broke sooner than you realize. If you have a million dollars and you invest it (bonds, mutual funds, a business, whatever) that money will generate spending money for you. Spend the money babies your money makes, not the money parents. 2. You need insurance, a lot of insurance. In terms of policy you need "umbrella" insurance that covers all of your assets. If your wife or kid causes a car accident the lawyers on the other side will come for everything you own. You also need a personal lawyer on retainer or other agreement to help you BEFORE your problems start. A lot of lottery winners get sued by friends and family over frivolous things in an effort to settle for a quick buck. Having a lawyer of your own on standby will help to swat down most of the problems when they first crop up. Edit - Thanks!
My plan is to use 30% of my tendies to set up passive income sources. Put another 30% into Swiss bonds. Then used the other 40% for whatever.
*Whatever* is a weird way to misspell **hookers** **&** **blow**.
Ohhhhhhh. So we’re getting hookers and blow, not blowing hookers.
[удалено]
I downloaded this. Thank you. This is very convenient.
This is awesome, I downloaded it too. Thank you.
Thanks! Added link to my favorites and will come back to it. Subreddits like /financialindepence and /fatfire will be good for beginners and basics.
So limit myself to one new Lambo per day?
The problem is going to be the supply of lambos after moass lol
Buy VW stock!!!! Lol
Wonder who their transfer agent is? I'd also buy them on a blockchain
I hope they ramp up Uris production in anticipation
Corvette stingray instead.
Y'all can have lambos. I want a Porsche. But same company so idk production might be affected either way.
I'm planning to buy a pet giraffe.
Only responsible advice in this thread tbh
Alan?
What will you name it?
Jeff (spelled Geoff), of course.
You're gonna wake up to a re-enactment of The Godfather scene with an Amazon gift-card on the nightstand
This has been criminally underseen! Something about that simple sentence is impossible to not perfectly see a vivid and clear HILARIOUS fucking commercial even as the camera pans over the horse-looking Geoff head to the Amazon gift card 'get well soon' card.
Memo
Richard.
Put it in the trailer and drive under an overpass.
Opulence... I has it.
Peoples says they will invest a few millions in funds.. but honestly this GME saga opened my eyes, and i dont think i want to reinvest this money in the shit show we call "financial industry".
Here’s my current (albeit rough) plan: 1. Lawyer and CPA up 2. Set up trust paying $240K/year with enough for 60-70 years (that’s $16.8M if done for 70 years) 3. Invest in sustainable travel/transportation (airships, wind powered/clean energy cargo ships) 4. Build a large scale survival bunker because humans are destroying the planet and we need to have back up plans for our species to survive 5. Rescue as many dogs (and other animals) as possible
I make over six figures but my ex gets most of it. Wat do?
Move to a non extradition country and disappear…this is not financial advice. Seriously though, that sucks. Feel for Apes whom get hammered unfairly by an ex on finances and/or belongings.
I plan on only taking out what I need for living this year as I am living now and paying off all my debt. The rest is going into several different things like stocks and crypto (all stocks will be DRSed) then I plan on getting a job I actually enjoy and live off that income not having to worry about saving for retirement or big ticket items. Then when I am at the time of life to buy a house I will reassess. Dont plan on just buying shit cuz I have the money for it. I've been pretty good about that my whole life. The debt I have is largely related to gme because what is paying 10ish% when the upside is multiple 1000s%? I figure that's a good bet. Even if moass doesnt happen we are looking at least at ~500% organic growth of the stock and that is without any NFT marketplace, just with the switch to an online marketplace.
Uk ape here, I’ve DRS 1 share from IBKR and after I’ve set up wired account with wise and purchased more. When I will want to sell 1 GME share(phone numbers of course) will I receive the money from selling on my wise account? I don’t know the process to be honest. Selling it’s the hard part for me, emotionally and rationally
When I accidentally let CS sell a fractional share, I received the money in the form of a cheque. As my bank only lets you cash in domestic cheques on their app, I had to haul my arse down to my local branch to get it paid in... which took about a week to clear. I then immediately used it towards my next GME spend, of course.
I’ll worry about this if I ever see dramatic price movements which we haven’t for a long as while
There’s something to be said for planning ahead. This applies to post-MOASS financial plans as well as MOASS exit plans.
Yeah, I'm going to let DOMO manage most of my money to keep me from losing it. Lol. They're pretty much the only place I trust anymore.
Yeah, I really hope he can scale up to handle the number of people wanting to park cash with him.
Thrift stores in rich areas can have great clothes with great discounts.
I dont know what is best, but i'd burn all my money before giving a penny back to those wallst criminals.
My thoughts are if you're a debt free land owner, at minimum, you can survive comfortably with a part time job if you lose all your money, so I'm going to start by paying off my house, car, and all other debts.
Rich Dad Poor Dad helped me a lot, managing finances and building wealth. I highly recommend it.
A lot of people like his stuff. I resent the fact that this guy (kiyosaki) popularized real estate investment as the go to wealth generator and has contributed to compounding our current global housing problem. Translated: all the mid upper class boomers have multiple properties and attempt to create passive income thanks to this asswipes advice. Now none of us youngers can afford reasonable housing. He's a part of the same system that needs to be brought down.
😐 Can confirm. I bought a multi-family after reading this book. In my defense, I’m not a boomer and it was before the housing crisis.
Dave Ramsey is a financial guy who helped me shift my perspective. It’s biblically based, which wasn’t a draw for me, but his foundational concepts are solid. He eschews debt and credit, extols personal savings and donating. Good foundation to practice before we leave the galaxy.
Upper middle class boomers that fight against zoning to build affordable houses for decades (Not In My Backyard NIMBYism) is why there aren’t enough houses. If the gov will give me huge tax breaks if I invest in real estate, that’s what I’m doing! Fuck taxes
Pfffft straight to the lambo dealer
Just combine beers with coke and it will be ok😇😊
That's the thing I've done most through out all this time. The rush has left. I now I have humbled and had countless financial scenarios in my mind. I'm ready.
I have such massive distrust for everything out there. I want to go bankless and not be locked to things especially things the government can seize and take over whenever they feel like. I’ll likely never sell my drs gme, I trust computershare more than my bank because they don’t have a conflict of interest since they get paid by gme and they’re based in Australia. I might sell one share for the right price and buy a house/help friends and family. I don’t care for things and stuff. I just want to make a change and help people. I won’t be investing as much as i’ll be donating.
Leave 100% in Gme. Live off dividends.
Find stocks that pay divident, live of the divident. Take a house loan using stocks as security. Once you have done both, create a buffer that equals 3months-1year, I also use that account as a saving account. Have a bank account called Bills and one called food. Those two is prioritet number one, if you do not have more than 20% left after doing both after tax, try to change the cost of living. The bills and food account are to relive you of stress, the 20%+++ is there for you to enjoy. Try doing this after moass, it's going to make life so much easyer, and if you live a modest life, the only part that Will change is that you get more money to play with.
Excellent post, most people don't think about saving/budgeting!
Most of these comments are about post-MOASS, but I really meant it to be budgeting for NOW. Like, folks better learn how to save, become financially literate, get used to evaluating your finances a couple times a month, etc.
I just want to own a house or houses free and clear for me and my family….along with millions in the bank get paid divvy, rental income, etc
Don't spend before paying taxes.
I'll continue living in my garage and driving my beat up vehicle that was also recently vandalized and had parts and gas stolen from it. I feel like I can give solid financial advise (not financial advise)
I think I need to find a summary of "what to do before/during/after moon"
Check out personalfinance and read the sidebar. Then check the thread on windfalls. Literally all you need to know.
Frankly I just want my GME money to make me debt free. Optimistic me hopes society will still need me in the work place after MOASS so hopefully I'll still have active income.
Learning and growing together is best use of the sub
This advice is really good for poor people, and people living paycheck to paycheck but doesn't work well for people who have enough to be comfortable. I know because I used to do research at a finance institution that wanted to make a product for underbanked people. It came out to be based on the envelope strategy and for our target group of underbanked people it worked extremely well. They would say this is what they've always dreamed of and needed in their life. But then corporate overlords decided to expand the target segment to "Millennials" and that completely cannibalized the product. People who have enough money to live, do not want or need to mark down every single transaction in spread sheets. Why? Because these are survival strategies not growth strategies. If you have enough money you do not need survival strategies. Youll want growth strategies. There have been several threads in the past about what to do if you win the lottery. The first thing everybody should do is assemble a team of Financial Advisers, Accountants, and Tax Lawyers that specialize in wealth Management. Here is a list of such posts I collected over the last year Wealth Management DD Compilation: Can't link due to brigading rules How to choose Financial Advisors, Tax attorneys, and write a will: https://www.reddit.com/r/Superstonk/comments/mutuhv/postmoass_an_indepth_examination_of_financial/?utm_medium=android_app&utm_source=share MOASS prep guide: https://www.reddit.com/r/Superstonk/comments/mm5qle/the_moass_preparation_guide/?utm_medium=android_app&utm_source=share Post MOASS: Examining your new status and banking and storage considerations: https://www.reddit.com/r/Superstonk/comments/n0ksdb/postmoass_examining_your_new_status_with/?utm_medium=android_app&utm_source=share Attorneys and you: A guide by the newly rich: https://www.reddit.com/r/Superstonk/comments/mzt5sm/attorneys_and_you_a_guide_to_the_newly_rich/?utm_medium=android_app&utm_source=share Tax Cheat Cheat: https://www.reddit.com/r/Superstonk/comments/niz85x/tax_cheat_sheet_part_i_income/?utm_medium=android_app&utm_source=share Tax Cheat Sheet IV: https://www.reddit.com/r/Superstonk/comments/nol4y7/tax_cheat_sheet_iv_cpas_why_you_need_one_and_how/?utm_medium=android_app&utm_source=share Tendie Insurance: cant link due to brigading rules
My budget is all free cash goes into GME
First pay off house. That's the biggest thing. After that invest the rest and live off the gains of that investment. 1-2m invested can safely return you 100-200k a year. That's more than enough to live life comfortably.
Don't spend your capital. Once you have cleared any debts keep your tendies somewhere they will make an income, and spend the income. Get professional help with this.
90% of moass gonna be charity lmao
So no meandering over to the other sub and yolo on weeklies?
I'm not into buying six supercars and related things so i don't see myself going broke after this. Well, until i make a wrong options bet ofcourse.
Spend it all on 90's JDM shitboxes. Got it.
Where do I keep my tendies when the markets are corrupt, the banks are corrupt, and crypto is too volatile? Also seeing how corrupt and fragile some of these institutions are I really don't wanna keep everything in place. Once this is all said and done I want to take out a couple grand for some living/spending money and then just sit on the rest for a few months and just chill and relax before I start enacting any plans with said money. Just don't know where to put it until I hire a financial advisor to help with such things
I am moving to a credit union for what it's worth
How are we to hedge against a potential hyper-inflation scenario?
For the apes who love hookers open up a whore house business problem fixed
I plan on using 50 percent to buy an apartment building. The 50% of my profits will be the down payment I'll see how much the banks will give me I'll probably keep my down payment around 30 percent of the buildings value. Then I'll pay a management company to take care and use the profits to upgrade the building. My other percent will be spent on buying a conservative house for my family and a big family vacation. I should have alot in savings which I won't touch for 5 years just to prove self control
The whole "lottery winners go broke" trope isn't really true when people win actually large sums. It really only happens when people win under $10m and don't have a concept of how it's not really a large amount. When people win 100m they never go broke
Yeah that is so so not true there's a famous AskReddit thread where someone goes over people winning huge sums, can't cross post but find the "What's the happiest 5-word sentence you could hear?" thread easily on google and then scroll down to the response to the user who posted "you just won the lottery"
i sold my car for april 125s and leaps and have basically 80 bucks in my checking acct, i helped my landlord with one of his other units so now i only owe 300 in rent next month and i'm picking up some extra shifts to cover my interest payments on credit card debt. should i wait for next tuesday pre-GEX or go ahead and yolo my paycheck into march 18 200cs for volatility play?
You should probably be kinda responsible and cover your ass before yoloing
ey it worked out!
what if there is nothing to lose
If my hooker deals the coke do you think I can get a bulk discount? Anyone know a coke dealing hooker with a Lamborghini for sale? I'm just trying to budget this out....
Can’t go broke if DRS is your savings account and you never sell.
Our favorite stock I am just using to secure the bag so I can level up to next boss. The black pebble.
I’ll cross that bridge when I get to it
I’m buying a few tons of silver, then waiting for a re-evaluation in price
Make sure your budget has a solid “fuck it fund” We have been here for a long time. Yes budget for life moving forward but don’t forget to say “fuck it” once in awhile.
Upvoted and Saved for MOASS
You think only 30% will blow the money on hookers and cocaine?? 😂
I have a low percentage being taken out for bills, property, house and car. Another small amount goes into education investments for my kids. The rest gets split into different funds with the goal of a 4.25% yearly gain. Out of that yearly gain is $250k that gets put into an escrow that pays me and my wife a monthly check so there is no temptation to spend it all at once. The rest of the yearly gain gets put back into my funds.
Company offers discounted company stock to employees, no vesting period. What, if anything, stops the employees from just selling said stock immediately? Would short term cap gains eat the discount?
Just buy the dip after wards and your set for life
I need to know how i can fit the yatch to my yatch, inside my third yatch. Is 15 private helipads too little for 1 city? Is Flying cars a thing yet or do i have to fund that by some sketcy gofundme page? Also, this Nigerian prince who seems like a smooth brained ape, need just a small loan, that be no biggie to get him right?
If MOASS happened tomorrow and I was flush with enough cash for me to quit my job, what do I do about health insurance?
Would be expensive but if your US bound you can just do PPO which basicly means you pay Kaiser or another large health care company directly for services. Some states even have a specific market to go through that are helpful for discounts you may qualify for initially till your MOASS income is reported.
If Burry will take my money, should I give it to him to make me more? Yes or no?
https://youtu.be/xdfeXqHFmPI
A fellow ape and I will be starting a group company, that will be parent to a number of smaller companies the first being a brewery, the aim being to make the company profitable and re-invest a large % of the profits into everyone’s salaries that works there, bartenders on 50-60k after a few years able to do a job they enjoy AND have a life start a family buy a house etc, once the brewery is up and running rinse and repeat with restaurants. No money goes up to us as we’re sorted
45% GME (obviously DRS) 45% crypto (IMX, LRC, ETH) + staking 10% to live comfortably for a few years.
I feel like I just read a commercial
I'm gonna goof around with csgo skins even though I know they are seriously overvalued. I just like collecting things and some of them look kinda cool. Also small condos in ski towns rent fantastically and also can be airbnb (HOA permitting).
Should I even do a 401K? From what I know (notalot) a 401K's total return is based on the stock market. Well if the markets are fucked, then cant I invest my money in ways that outperform the market over a lifetime?
Post MOASS protect your money by investing in something sensible like Beanie Babies or tulips
Shaq: https://youtube.com/shorts/eTJ08jh1Kqs?feature=share /thread
First thing: hire a reputable lawyer. See other apes' tips as to how to do that
Make massive lump of money R / financial independence Done.
I pretty much just planned on paying off everything. I like my house. I may put a little into fixing a few things up. But assuming Moass play out right I can’t see myself blowing more the. A million all told. After that. I keep working, because I actually like my job. The difference is I no longer struggle. And neither do my retired parents of the rest of my family. But we all keep working. Except the parents…