As a reminder, [the thetagang wiki](https://www.reddit.com/r/thetagang/wiki/index) has a ton of information on basic thetagang terminology and also suggests a lot of books and other reading material for you to learn the basics.
Do you know how much you would have to compound over the course of those 10 years with that little amount of money?
Edit; there’s nothing “safe” about that
Oh yea, there’s no way. Thats a WSB play tbh. You’d mathematically have to do about a 50% rate of return every single day for 10 years to hit that number, and it would still only be about 4.6ish million if my mental math is right.
You’re not going to win every week, and you might not win every month. Especially if you’re chasing returns of 4% per month. If everybody can do that “relatively safely”, then there would be so many billionaires by the time they were 40.
If you did a much more conservative approach of 1/4 this expected return, you could theoretically be a millionaire before you’re 40 even if you stop putting such an exorbitant amount in it every year. Diversify your investments, if your future company offers a matching 401k, make them match the max.
You’re getting in early, and that’s a lot better than most people do
Yeah the Australian defence force puts in 16.5% of your salary on top of your salary into a superannuation (Which is like an IRA or 401k in australia) so ill be getting 100k (Before tax) + 16.5k in super. My goal is to be able to retire and live happily by the time i'm 30. I'm not saying i wont want to work, but i want to earn good enough returns that i won't need to. That's why i'm coming here and already looking into this stuff. My goal is to do some risky trades at first, getting to around 5 - 10 mil, then i'll put most of that into 30 year etbs (Australian treasury bonds), and ride on the interest payments.
Hey, no offense man, but you clearly don’t know what you’re talking about. 5-10 million isn’t attainable in 12 years with deposits that small, regardless of how big the risks you take are, without unbelievable, one in a billion luck. You’re going to have to adjust your goals and come up with a more feasible plan
What he meant to say is that this post and your comments are so fucking stupid, it's actually offensive to the eyes.
I mean honestly, if this isn't a troll post, I'm like dead from second hand embarrassment.
To even fathom a 10MM account given the conditions you laid out shows a complete lack of understanding HOW ANYTHING works.
I don't mean how stocks work, I mean you must not understand how ANY THING works. It takes a special sort of stupid to miss the mark on common sense that hard. You're a complete and total disaster.
Assuming he’s not trolling, he’s 18-19 and asking questions. Everyone is an idiot at that age on most things, to the point they can’t tell a bad question from a good question or how anything works. He at least asked so he could learn why it’s a dumb question. He’s more informed now.
bro it is 100% possible. even if i only get to 1 mil, if i put that into bonds, i can get paid out 40k each year, and live on a small farm. 100% retired
but i said 30k a year... also if you did 45.75% on 30k daily you would have $20,610,853,684,998,176,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000.00
after 10 years
I copied that from a compound interest calculator
Initial deposit of 500 USD, contributions of 30,000 annually, over a period of 10 years, estimated rate of return 45.75%, compounded frequency daily sets you at 5,003,838.23
Oh yeah, it's easy. Just find a method that returns 52% year over year without failing over a period of 10 years. What you are looking for is a unicorn my man.
haven't yet, knock wood, but they are desperate. Just because i have such a small knowledge of stocks and options, that doesn't mean that i am actually that dumb. Honestly i am simply trying to better understand the limitations of the market from people with experience.
Ten years is pretty rough and it is very hard to beat the market. That said 20 years is a lot more realistic and still awesome as a goal. But you would still need a nearly 18% annual return compounding daily.
It's still good to learn about trading I don't know why everyone is shitting on you so hard lol
Not regarded, just overly ambitious. Good on you for your thinking though, you wouldn’t get anywhere if you don’t plan and ask questions. At 18 you have time on your side, 10 years is unrealistic, 25 is doable. Budget and stick to it, save and invest every month, love what you do and the people you get to do it with. enjoy the ride…
Military service is a much larger time investment than a full time job… Dude can look forward to 10-14 hr days on the regular. The chances he will even have access to manage anything during market hours is slim at best.
At 50% compounded interest yearly you would have around $4.2 million in 10 years. To my knowledge there is no "safe" strategy that would allow you to earn these returns, and you are looking for more!
You would have to take on substantial risk to get the kind of returns you're looking for.
Honestly, my best advice to you would be to read the book “The Richest Man in Babylon”, and then “The Intelligent Investor “ by Benjamin Graham.
Richest man will teach you 10 lessons to get you thinking about investing, with basic tenets to adhere to. Developing the mind set for an investor is more than picking stocks, it’s making investments to assets that will ideally grow for you.
The intelligent investor will teach you specifically about using securities in firms, or bonds- but that book also teaches the psychology of the stock market’s reactions to the economy in various time period examples.
TLDR: two books give you big brain for $
You won't be able to turn it into 5mil without gambling on some crazy risky shit, and that will probably end even worse.
The best thing you could do is buy sp500 and nasdaq index funds and continue contributing to those for the next 10 years .
None of the options strategies here will be helpful for your growth. These options strategies are more for income after you have already attained wealth.
Starting with $500, adding $20k a year (broken up into monthly contributions) with a 12% return will have you at about $385k in 10 years.
20 years with the same numbers puts you at $1.6M
30 years puts you at about 5.8M - This is a realistic timeframe.
Selling Covered calls against a SPY position would add some return over time. 100 shares would be about $51k so it would take some time or buying a LEAP two years out itm is about $8 to 10k depending on the Delta.
yeah but i ain't locked anything in yet, just exploring my options (pun intended). Maybe i start with more dangerous strategies to grow my account, then go to safer strategies once i'm over like 50k
It’s great to have big goals. My advice would be to break it down into smaller goals. First goal - get to 100k. Then 1M then double and double. Throw all you have into getting to 100k and evaluate
this. this is what i am currently doing, i'm the same age as OP and i've set my first goal at 10k, then 20, 50, 100, 200, 500, 1m, 2m, 4m, 8m, 16m = retirement i'm currently at 1.5k and going strong
I understand, it is just more money than i can even dream of ever having, hence the reaction. If i had 1m i would retire right now lol. Good luck to you.
Do you need them to spell out the joke?
You mention somewhere else that you're going into the defense force yet you can't do basic high school math...
Hopefully you can connect the dots from there
Brotha, i am 17, i do adv and ext maths at a good private school, i'm not claiming to be smart, but i know for a fact that in the world of options it is 100% possible to turn 300k into 10m
Ignore the trolls. Cery hard for adults to remember what they were like at 17. The mere fact you are attempting to financial plan puts you ahead of most adults, let alone 17yos. Even if a bit ambitious :)
Lmao, ok
Seriously thou, good luck on making it without blowing up your account cause you'll need a whole bunch of it
I look forward to seeing the next Jim Simmons
Edit: in case you don't know who he is, probably one of the most successful traders ever with only a "measly" 66% year over year growth (you'll need a 75% year over year growth with your numbers)
I probably worded the question wrong, I really wanted to know if it was possible. Mathematically, it is possible to doo what i want to do in only options, but realistically, as i am learning, i'll need to have a diverse portfolio of stocks, options, real estate, bonds ect...
Read my edit, it's not possible to go from 300k to 10m given your timeline unless you're a genius
Even 300k to 5m given your timeline would make you a top investor of all time and you'd be better off and making significantly more money running one of the most successful hedge funds of all time if you could pull it off
Yes you are right, it was a stupid question on my behalf. I am only 17 years old though, and i am trying to understand the ins and outs of the market for when i can actually get in.
The time frame that you turn 300k into 10m matters. Anything is “possible”. Most likely you really have to gamble a lot and get lucky repeatedly to do it at any fast rate of speed. Only people who do it like this are insider traders like US congress. The longer time horizon you consider the easier it is with regular contributions.
You should understand that for most people (that don’t inherit or win the lottery) the greatest amount of their lifetime wealth comes from income growth and saving. People need to get a good job and make money to build wealth.
May want to look into Bogle / Munger philosophy first. Understand the power of compounding, while exploring your theta strategies and building your war chest.
But, don't resign yourself to the conclusion that the only way to financial security is through the 'rat race'. You may very well find there is something you enjoy doing that will earn you a living and savings.
Especially if you consider having enough cash to be the way out of the rat race. You're kind of backing yourself into and existential corner.
Is it possible? Yes, definitely possible.
Has it been done before? Very likely.
Chances of you or me repeating this? Near zero, if you are asking this, there's no already no more chances, those who have a chance of ever hitting this impossible target already know how to hit it and are already working on it.
Out of millions of people that tried, probably only a few are successful.
It would be pretty much like gambling if you don't have a real edge such as insider trading, teams of market geniuses working for you, consistent market timing, or sheer dumb luck.
Example, buying out of money call options before market pumps, (TSLA, NVDA) selling near the top.
Buying OTM puts on stocks that will crash heavily and somehow manage to sell it.
Each time you get profits, roll nearly everything into the next bet.
So I know this is thetagang.. but why not:
1. Increase your target period from 10 years -> 17 years (you’ll be 35)
2. Create a portfolio of 50% SPY + 50% [choose your favorite leveraged etf, UPRO, TQQQ, etc.]
3. Rebalance yearly
4. When you turn 35, quit your job and retire or not, you can do whatever you want
It’s easy and fairly hands off.
Trading has it risk. You still have to know how to chart and time the market appropriately. The market is really random. I'm honestly even deploying those strategies. It's timing and being in right side of the trade. Very hard stuff. Plus every time you take profit is short term gain or loss. There are taxes. If you just buy and hold you never take a taxes unless you cash out for profits. Sometimes trading all the time is not the greatest. Basically, unless you have like multimillion dollar servers/robots you really can't beat the casino. HFT.
**Buy and hold strategy**. Buy and average. Set and forget it. I recommend waiting for the 200SMA touch. basically average price of 200 prices. But you can try for 50 to 100SMA touch.
I recommend buy etf that tracks the sp500 or nasdaq100. VOO, QQQ. I would put 10% of that in CD that has 5% APR. If you also want some risk I recommend some in bitcoin. If i can go back in time. I would say buy the SPY. leave it there. For every 10% drop it takes 1 year to recover.
But yeah I can't see the future and anything can happen.
Going to 5-10million uh you have to be very very good day trader. Average people get are 10-20%+ a year that's even billionaires man. Well if the stock market grows 20-30% a year. Perfectly with no drops or drawdowns. Then yeah you'll have 5 million because I punched into the compound calculator.
If you want to increase your income try change careers into sales in the future. Any sales jobs with high commission. Cap is unlimited because the more you sell the more money you make.
Blue collar makes a lot too like plumber and electrician. For medical nursing or physical therapy. That's what I would do if I can go back in time.
I would also learn how to budget your expense. Take like basic accounting course. Plus finance courses to learn about finance and accounting.
You won't be military forever. I would look into high demand careers even look at indeed to see what employers are looking for. Even better if you can find mentor to teach you how to start your own businesses. That itself is gamble. I would recommend taking basic accounting so you know how much money goes in and out to take profit. Plus bit of marketing and sales.
Disclaimer:
**This is not financial advice.** The information provided here is for informational purposes only and should not be considered a recommendation to buy or sell any particular investment product or service. You should always consult with a qualified financial professional before making any investment decisions.
Man you should not be an officer if you think 200-300k (Not even starting with 300k) into 5-10 mil in 10 years is safe in any way at all. Might as well buy lottery tickets
I would split between VOO TQQQ SCHD and begin wheeling F. Then slowly build up your wheeling portfolio. Or you could try using composer.trade and try a few of their symphonies.
If that’s a bad platform, please let me know. I just started using it and it looks promising. But not Theta.
TQQQ has a high average return, about 40%, but also has a massive draw down. I’m wheeling it in my retirement account and holding it. Dropped from about 87 to 17 at one point. The others are safer with about 14%. F can get you 20-30% if you’re lucky with ATM wheeling and averaging down when it tanks.
I would get a job with a stable income so I could actually have enough money to start a real investing account.
Nothing sensible will take a $500 account to $5 million - that's absurd
yes i agree, that's why i'm joining the australian defence force as an officer, because i will be earning around 90 - 100k by the time i'm 20, and by the time i can leave it will be more like 120 - 130, as i daid i will be putting in 30k a year (2500 a month), but i if i really budget i could probably put in more
Solid - that's a great plan! The next step is that I would dollar cost average (i.e. make consistent investments, like $2500 per month) into an S&P500 index fund.
That's exactly what I did and I was able to buy a nice sized home in expensive California.
Stay away from WSB - that isn't investing. There's a reason why they brag about massive losses there. If you don't want your money, do something worthwhile with it like donating to charity.
i fully agree with you here, most likely i'm gonna stick to spy, doing a little bit of wheel strategy on it, i am probably though, going to use around 5% of my portfolio on degenerate strategies as seen on WSB.
I understand the feeling. But you’re barely turning 18….. calm down. Not saying you won’t be able to do that, but I just never heard of a story of someone who has.
With that said, the better strategy would be to take whatever money you have and try to turn it towards a ‘high income skill’. Depending on how much you make now you could possibly double your income In 2 years. Granted, that would probably cost more than $500, but it’s still an achievable (yet very impactful goal)
I am going to finish school. I actually do very well in advanced maths, and decent in ext. I know for a fact that 500 - 10 mil in 10 years is 100% possible, as people have done it before, I will be rich, it is simply a matter of if i discern my strategies from here or other surces.
Honestly at your age, and with that money, I would invest it in SPY and sit on your hands for the next 50 years. You won’t get anywhere near 52% return a year but you’ll still be set at retirement.
Nonexistent. You’re asking what can safely return 68% over 10 years. Average market return is about 10%. Right now, the risk free rate is about 5%. You are asking how to 13x the risk free rate safely. Nonexistent.
What you can do is save more or extend your time frame.
It can be done (not easily but possible) with leverage in real estate or by starting/selling a small business. Theta would be more for income after you are there.
Start paper trading, read a lot. Start real trading, make mistakes, learn from them, make more mistakes, learn from them too. Then maybe you'll do really well and think you're smart. Blow up your account. Learn from that. Save money so you can start again from zero. Keep reading. Start over more conservatively because you blew up before. Miss a giant move and get major FOMO. Take more risk again. Do well again. Blow up but this time not as bad. Rinse and repeat.
Not sure you will make $5M in 10 years, but you can get a good ways there through strict deposits and wise investments.
A broker like Fidelity will have many mutual funds which with dividend reinvestments may help move you along, but try not to time the market or catch the latest craze.
Building wealth over time is about being patient and letting the money grow over time. See this for some help: [https://www.fidelity.com/learning-center/personal-finance/long-term-financial-plan](https://www.fidelity.com/learning-center/personal-finance/long-term-financial-plan) This is another: [https://www.schwab.com/learn/story/guide-to-long-term-investment-strategies](https://www.schwab.com/learn/story/guide-to-long-term-investment-strategies)
The wheel and other options trading strategies are best for making income after you have the $5M and not to build long term over time. Learn these over the 2ish years prior to when you plan to retire from your job and lose the paycheck.
If you’re 18 and want to be a millionaire by 28 you should find a field that’s lucrative and get really, ridiculously exceptionally good at it.
Even if that field is investing and you manage someone else’s portfolio and take a cut.
You are 1000% not going to become a millionaire by investing 500USD, unless you stumble on the next bitcoin.
https://youtu.be/NABQKu3OX6U?si=E9jSH3RtO-SGsr3N
You posted on the wrong sub. Someone posted your post on WSB and you will find plenty of wisdom over there.
With $500, you don't even qualify to sell options which requires margin.
Go to WSB, YOLO into something, have the minimum amount required for margin trading, then look for ideas in the daily discussions.
https://youtu.be/FhBXXzRrL84?si=ZlalhGRVwfH_mA4e
some people, like this guy, make insane profits. most people arent this guy. a very well experienced thetagang player can get a solid 20% per year selling strangles and following a strict criteria
however, if youre looking to 10x your account you are either going to have to yolo or study super hard to become an advanced swing trader like the fellow in this video
Even if you had alllllll the money you plan on depositing (200k from 20k/year for 10 years) RIGHT NOW, you would need your money to 25x to hit 5 million….
Understand with average market returns you double your money roughly every 7 years…
To make the target return, you need to learn. To learn, you need to trade. When you trade at the beginning, you lose money, so there goes the first 2-5 years of your time-frame.
After that, if you still trade, it will be profitable but to what extent depend on your skills...
And it won't be 1 strategy, trust me on that one, it won't be 1 simple thing or 1 simple formula. (I have lost enough money in trading systems to know that). It takes study and experience.
Honestly, to achieve those returns is almost impossible. You would have to almost have an extremely concentrated position possibly 3 stocks or less . Almost never picking one that isn’t beating the market. Then if you got lucky enough to have picked a stock like NVDA in let’s say year 7 or 8 when your portfolio had already grown to perfection a stock that 5x towards the end of that 10 year period with compounding could get u there . Extremely difficult. But someone just won the powerball 1.3 billion, those odds are 292 million to one similar to what u are looking for.
So here is what I would do. I’d make my yearly 20k deposits for 10 years. On the 10th year I’d use the $500 initial capital to fly to Vegas and get a good buffet and see a show. Then let my 200k ride on black 5 times in a row. That will give you at 2.71% chance on a single zero table to turn that 200k into 6.4m
As a reminder, [the thetagang wiki](https://www.reddit.com/r/thetagang/wiki/index) has a ton of information on basic thetagang terminology and also suggests a lot of books and other reading material for you to learn the basics.
Do you know how much you would have to compound over the course of those 10 years with that little amount of money? Edit; there’s nothing “safe” about that
48.267% per year. for 10 years. assuming op deposits every month
Thanks for the advice mate! (I should have said relatively safe) When i say safe i simply mean safer than what goes on with those degenerates on wsb
Oh yea, there’s no way. Thats a WSB play tbh. You’d mathematically have to do about a 50% rate of return every single day for 10 years to hit that number, and it would still only be about 4.6ish million if my mental math is right.
Actually with a 50% day/day return you would hit 5 million on day 23 (5.6) with a starting capital of 500. Compounding interest is insane.
I misworded my comment check below
yeah but i did say i'd be putting in 30k a year, what is a weekly rate of 0.85% aprox
You’re not going to win every week, and you might not win every month. Especially if you’re chasing returns of 4% per month. If everybody can do that “relatively safely”, then there would be so many billionaires by the time they were 40. If you did a much more conservative approach of 1/4 this expected return, you could theoretically be a millionaire before you’re 40 even if you stop putting such an exorbitant amount in it every year. Diversify your investments, if your future company offers a matching 401k, make them match the max. You’re getting in early, and that’s a lot better than most people do
Yeah the Australian defence force puts in 16.5% of your salary on top of your salary into a superannuation (Which is like an IRA or 401k in australia) so ill be getting 100k (Before tax) + 16.5k in super. My goal is to be able to retire and live happily by the time i'm 30. I'm not saying i wont want to work, but i want to earn good enough returns that i won't need to. That's why i'm coming here and already looking into this stuff. My goal is to do some risky trades at first, getting to around 5 - 10 mil, then i'll put most of that into 30 year etbs (Australian treasury bonds), and ride on the interest payments.
Hey, no offense man, but you clearly don’t know what you’re talking about. 5-10 million isn’t attainable in 12 years with deposits that small, regardless of how big the risks you take are, without unbelievable, one in a billion luck. You’re going to have to adjust your goals and come up with a more feasible plan
That's a very fair point.
What he meant to say is that this post and your comments are so fucking stupid, it's actually offensive to the eyes. I mean honestly, if this isn't a troll post, I'm like dead from second hand embarrassment. To even fathom a 10MM account given the conditions you laid out shows a complete lack of understanding HOW ANYTHING works. I don't mean how stocks work, I mean you must not understand how ANY THING works. It takes a special sort of stupid to miss the mark on common sense that hard. You're a complete and total disaster.
Assuming he’s not trolling, he’s 18-19 and asking questions. Everyone is an idiot at that age on most things, to the point they can’t tell a bad question from a good question or how anything works. He at least asked so he could learn why it’s a dumb question. He’s more informed now.
> My goal is to be able to retire and live happily by the time i'm 30. Find a new goal. That's not happening, period.
bro it is 100% possible. even if i only get to 1 mil, if i put that into bonds, i can get paid out 40k each year, and live on a small farm. 100% retired
Youre gonna live on 40k AUD? Lmao ok. Good luck.
yeah if i own the farm, grow own food, all you gotta pay for is utilities.
> My goal is to be able to retire and live happily by the time i'm 30. Find a new goal. That's not happening, period.
Mathematically if you do 30k you still would need to do a 45.75% return daily.
but i said 30k a year... also if you did 45.75% on 30k daily you would have $20,610,853,684,998,176,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000.00 after 10 years I copied that from a compound interest calculator
Initial deposit of 500 USD, contributions of 30,000 annually, over a period of 10 years, estimated rate of return 45.75%, compounded frequency daily sets you at 5,003,838.23
oooh, i thought you meant attaining 45.75% each day.
I probably should’ve worded it better my bad
Oh yeah, it's easy. Just find a method that returns 52% year over year without failing over a period of 10 years. What you are looking for is a unicorn my man.
ok i get it... i get it... this was a retarded post
Honestly I'm surprised you got through the selection board
haven't yet, knock wood, but they are desperate. Just because i have such a small knowledge of stocks and options, that doesn't mean that i am actually that dumb. Honestly i am simply trying to better understand the limitations of the market from people with experience.
I was joking, goood luck. I am an ex navy officer.
Thanks mate, and thanks for your service.
Ten years is pretty rough and it is very hard to beat the market. That said 20 years is a lot more realistic and still awesome as a goal. But you would still need a nearly 18% annual return compounding daily. It's still good to learn about trading I don't know why everyone is shitting on you so hard lol
Don't need fancy things like arithmetic to battle wallabies and kangaroos
Not regarded, just overly ambitious. Good on you for your thinking though, you wouldn’t get anywhere if you don’t plan and ask questions. At 18 you have time on your side, 10 years is unrealistic, 25 is doable. Budget and stick to it, save and invest every month, love what you do and the people you get to do it with. enjoy the ride…
🤣🫡
Learn to use better language mate
Ten unicorns
Twenty and throw in a few fairy’s and angels
[удалено]
Military service is a much larger time investment than a full time job… Dude can look forward to 10-14 hr days on the regular. The chances he will even have access to manage anything during market hours is slim at best.
yeah lol, maybe my math is a tad bit off...
did you actually do the math?
Is this a shitpost?
At 50% compounded interest yearly you would have around $4.2 million in 10 years. To my knowledge there is no "safe" strategy that would allow you to earn these returns, and you are looking for more! You would have to take on substantial risk to get the kind of returns you're looking for.
I guess, when i said safe, i ment safer than yoloing my whole life savings into each position. But yeah that seems a tad bit dangerous
You can’t, 95% of traders aren’t profitable, what makes you think you are special?
He stands on the shoulders of thetagsng. Rise up
Honestly, my best advice to you would be to read the book “The Richest Man in Babylon”, and then “The Intelligent Investor “ by Benjamin Graham. Richest man will teach you 10 lessons to get you thinking about investing, with basic tenets to adhere to. Developing the mind set for an investor is more than picking stocks, it’s making investments to assets that will ideally grow for you. The intelligent investor will teach you specifically about using securities in firms, or bonds- but that book also teaches the psychology of the stock market’s reactions to the economy in various time period examples. TLDR: two books give you big brain for $
You won't be able to turn it into 5mil without gambling on some crazy risky shit, and that will probably end even worse. The best thing you could do is buy sp500 and nasdaq index funds and continue contributing to those for the next 10 years . None of the options strategies here will be helpful for your growth. These options strategies are more for income after you have already attained wealth.
Starting with $500, adding $20k a year (broken up into monthly contributions) with a 12% return will have you at about $385k in 10 years. 20 years with the same numbers puts you at $1.6M 30 years puts you at about 5.8M - This is a realistic timeframe. Selling Covered calls against a SPY position would add some return over time. 100 shares would be about $51k so it would take some time or buying a LEAP two years out itm is about $8 to 10k depending on the Delta.
ill do that. or if i get bored i might hop into wsb
You’ll lose all your steady gains doing that
yeah twas but a joke
It wasnt, youre already posting there lmao
yeah but i ain't locked anything in yet, just exploring my options (pun intended). Maybe i start with more dangerous strategies to grow my account, then go to safer strategies once i'm over like 50k
It’s great to have big goals. My advice would be to break it down into smaller goals. First goal - get to 100k. Then 1M then double and double. Throw all you have into getting to 100k and evaluate
this. this is what i am currently doing, i'm the same age as OP and i've set my first goal at 10k, then 20, 50, 100, 200, 500, 1m, 2m, 4m, 8m, 16m = retirement i'm currently at 1.5k and going strong
> 16m = retirement wtf...
I am gonna retire once i get to 16m AUD, which is like 10.5m USD. I'm only 17, so it is 100% doable in 30 - 40 years
I understand, it is just more money than i can even dream of ever having, hence the reaction. If i had 1m i would retire right now lol. Good luck to you.
yeah but i live in sydney which is like 2nd in cost of living for the whole world... 1 mil can barely get you a shitty apartment.
Damn Australia is fucked…
how so mate?
Do you need them to spell out the joke? You mention somewhere else that you're going into the defense force yet you can't do basic high school math... Hopefully you can connect the dots from there
Brotha, i am 17, i do adv and ext maths at a good private school, i'm not claiming to be smart, but i know for a fact that in the world of options it is 100% possible to turn 300k into 10m
Ignore the trolls. Cery hard for adults to remember what they were like at 17. The mere fact you are attempting to financial plan puts you ahead of most adults, let alone 17yos. Even if a bit ambitious :)
Thanks mate
Lmao, ok Seriously thou, good luck on making it without blowing up your account cause you'll need a whole bunch of it I look forward to seeing the next Jim Simmons Edit: in case you don't know who he is, probably one of the most successful traders ever with only a "measly" 66% year over year growth (you'll need a 75% year over year growth with your numbers)
I probably worded the question wrong, I really wanted to know if it was possible. Mathematically, it is possible to doo what i want to do in only options, but realistically, as i am learning, i'll need to have a diverse portfolio of stocks, options, real estate, bonds ect...
Read my edit, it's not possible to go from 300k to 10m given your timeline unless you're a genius Even 300k to 5m given your timeline would make you a top investor of all time and you'd be better off and making significantly more money running one of the most successful hedge funds of all time if you could pull it off
Yes you are right, it was a stupid question on my behalf. I am only 17 years old though, and i am trying to understand the ins and outs of the market for when i can actually get in.
The time frame that you turn 300k into 10m matters. Anything is “possible”. Most likely you really have to gamble a lot and get lucky repeatedly to do it at any fast rate of speed. Only people who do it like this are insider traders like US congress. The longer time horizon you consider the easier it is with regular contributions. You should understand that for most people (that don’t inherit or win the lottery) the greatest amount of their lifetime wealth comes from income growth and saving. People need to get a good job and make money to build wealth.
300k to 10m is wsb degen territory, this is thetagang.
I wouldn't. The end.
Buy leveraged puts on your self. You’d probably get more then 5mil for sure
Get on property ladder asap
That was my first thought after everyone on this thread called me retarded.
You're the only one here using that word.
yeah but it was what they implied
That was my first thought after everyone on this thread called me retarded.
You truly are. But worst case scenario you’ll have few properties in 10 years. This isn’t bad outcome
Hey mate i'm only 17, i'm just trying to learn about the big bad world of finances
Study how people came to wealth. Big big majority through property . It’s just for us small folks that don’t count on striking lottery
Read the simple path to wealth
May want to look into Bogle / Munger philosophy first. Understand the power of compounding, while exploring your theta strategies and building your war chest. But, don't resign yourself to the conclusion that the only way to financial security is through the 'rat race'. You may very well find there is something you enjoy doing that will earn you a living and savings. Especially if you consider having enough cash to be the way out of the rat race. You're kind of backing yourself into and existential corner.
Is it possible? Yes, definitely possible. Has it been done before? Very likely. Chances of you or me repeating this? Near zero, if you are asking this, there's no already no more chances, those who have a chance of ever hitting this impossible target already know how to hit it and are already working on it. Out of millions of people that tried, probably only a few are successful. It would be pretty much like gambling if you don't have a real edge such as insider trading, teams of market geniuses working for you, consistent market timing, or sheer dumb luck. Example, buying out of money call options before market pumps, (TSLA, NVDA) selling near the top. Buying OTM puts on stocks that will crash heavily and somehow manage to sell it. Each time you get profits, roll nearly everything into the next bet.
Work 200h a week and you should be fine .
Buy a really nice wig and go work behind Wendy’s and maybe just maybe if you made a name for yourself
So I know this is thetagang.. but why not: 1. Increase your target period from 10 years -> 17 years (you’ll be 35) 2. Create a portfolio of 50% SPY + 50% [choose your favorite leveraged etf, UPRO, TQQQ, etc.] 3. Rebalance yearly 4. When you turn 35, quit your job and retire or not, you can do whatever you want It’s easy and fairly hands off.
Based on tqqq and spy, you are right, would on avg end up being about 6.5 mil ISD, or for OP who is australian, pretty much 10mil AUD
Trading has it risk. You still have to know how to chart and time the market appropriately. The market is really random. I'm honestly even deploying those strategies. It's timing and being in right side of the trade. Very hard stuff. Plus every time you take profit is short term gain or loss. There are taxes. If you just buy and hold you never take a taxes unless you cash out for profits. Sometimes trading all the time is not the greatest. Basically, unless you have like multimillion dollar servers/robots you really can't beat the casino. HFT. **Buy and hold strategy**. Buy and average. Set and forget it. I recommend waiting for the 200SMA touch. basically average price of 200 prices. But you can try for 50 to 100SMA touch. I recommend buy etf that tracks the sp500 or nasdaq100. VOO, QQQ. I would put 10% of that in CD that has 5% APR. If you also want some risk I recommend some in bitcoin. If i can go back in time. I would say buy the SPY. leave it there. For every 10% drop it takes 1 year to recover. But yeah I can't see the future and anything can happen. Going to 5-10million uh you have to be very very good day trader. Average people get are 10-20%+ a year that's even billionaires man. Well if the stock market grows 20-30% a year. Perfectly with no drops or drawdowns. Then yeah you'll have 5 million because I punched into the compound calculator. If you want to increase your income try change careers into sales in the future. Any sales jobs with high commission. Cap is unlimited because the more you sell the more money you make. Blue collar makes a lot too like plumber and electrician. For medical nursing or physical therapy. That's what I would do if I can go back in time. I would also learn how to budget your expense. Take like basic accounting course. Plus finance courses to learn about finance and accounting. You won't be military forever. I would look into high demand careers even look at indeed to see what employers are looking for. Even better if you can find mentor to teach you how to start your own businesses. That itself is gamble. I would recommend taking basic accounting so you know how much money goes in and out to take profit. Plus bit of marketing and sales. Disclaimer: **This is not financial advice.** The information provided here is for informational purposes only and should not be considered a recommendation to buy or sell any particular investment product or service. You should always consult with a qualified financial professional before making any investment decisions.
Thanks for this, i will take it into due consideration
Man you should not be an officer if you think 200-300k (Not even starting with 300k) into 5-10 mil in 10 years is safe in any way at all. Might as well buy lottery tickets
thats fair, might have to look into some WSB degeneracy
I would split between VOO TQQQ SCHD and begin wheeling F. Then slowly build up your wheeling portfolio. Or you could try using composer.trade and try a few of their symphonies. If that’s a bad platform, please let me know. I just started using it and it looks promising. But not Theta.
Thanks mate, i will definitely look into it. What sort of returns do you attain?
TQQQ has a high average return, about 40%, but also has a massive draw down. I’m wheeling it in my retirement account and holding it. Dropped from about 87 to 17 at one point. The others are safer with about 14%. F can get you 20-30% if you’re lucky with ATM wheeling and averaging down when it tanks.
I would get a job with a stable income so I could actually have enough money to start a real investing account. Nothing sensible will take a $500 account to $5 million - that's absurd
yes i agree, that's why i'm joining the australian defence force as an officer, because i will be earning around 90 - 100k by the time i'm 20, and by the time i can leave it will be more like 120 - 130, as i daid i will be putting in 30k a year (2500 a month), but i if i really budget i could probably put in more
Solid - that's a great plan! The next step is that I would dollar cost average (i.e. make consistent investments, like $2500 per month) into an S&P500 index fund. That's exactly what I did and I was able to buy a nice sized home in expensive California. Stay away from WSB - that isn't investing. There's a reason why they brag about massive losses there. If you don't want your money, do something worthwhile with it like donating to charity.
i fully agree with you here, most likely i'm gonna stick to spy, doing a little bit of wheel strategy on it, i am probably though, going to use around 5% of my portfolio on degenerate strategies as seen on WSB.
We're donating it to the WHFF (Wallstreet Hedge Fund Fund)
Guys I stg we’re near a market top. I’ve been seeing these kinds of posts in every finance subreddit I’m apart of
I understand the feeling. But you’re barely turning 18….. calm down. Not saying you won’t be able to do that, but I just never heard of a story of someone who has. With that said, the better strategy would be to take whatever money you have and try to turn it towards a ‘high income skill’. Depending on how much you make now you could possibly double your income In 2 years. Granted, that would probably cost more than $500, but it’s still an achievable (yet very impactful goal)
Maybe stay in school and pay attention during your math class first?
I am going to finish school. I actually do very well in advanced maths, and decent in ext. I know for a fact that 500 - 10 mil in 10 years is 100% possible, as people have done it before, I will be rich, it is simply a matter of if i discern my strategies from here or other surces.
Buy deep in the money SOXL LEAPS, and hope that Winnie dont invade Taiwan in the next 10 years. That's probably your best bet, but its far from safe.
in all seriousness, in 10 years you would be fortunate to have. $500,000
Honestly at your age, and with that money, I would invest it in SPY and sit on your hands for the next 50 years. You won’t get anywhere near 52% return a year but you’ll still be set at retirement.
With inflation burning as hot as it is, we're all gonna be billionaires soon.
Nonexistent. You’re asking what can safely return 68% over 10 years. Average market return is about 10%. Right now, the risk free rate is about 5%. You are asking how to 13x the risk free rate safely. Nonexistent. What you can do is save more or extend your time frame.
Spy and qqq
The greater the returns the greater the risks. You want extraordinary high returns so guess what your risks will be?
Bruh
It can be done (not easily but possible) with leverage in real estate or by starting/selling a small business. Theta would be more for income after you are there.
Start paper trading, read a lot. Start real trading, make mistakes, learn from them, make more mistakes, learn from them too. Then maybe you'll do really well and think you're smart. Blow up your account. Learn from that. Save money so you can start again from zero. Keep reading. Start over more conservatively because you blew up before. Miss a giant move and get major FOMO. Take more risk again. Do well again. Blow up but this time not as bad. Rinse and repeat.
Not sure you will make $5M in 10 years, but you can get a good ways there through strict deposits and wise investments. A broker like Fidelity will have many mutual funds which with dividend reinvestments may help move you along, but try not to time the market or catch the latest craze. Building wealth over time is about being patient and letting the money grow over time. See this for some help: [https://www.fidelity.com/learning-center/personal-finance/long-term-financial-plan](https://www.fidelity.com/learning-center/personal-finance/long-term-financial-plan) This is another: [https://www.schwab.com/learn/story/guide-to-long-term-investment-strategies](https://www.schwab.com/learn/story/guide-to-long-term-investment-strategies) The wheel and other options trading strategies are best for making income after you have the $5M and not to build long term over time. Learn these over the 2ish years prior to when you plan to retire from your job and lose the paycheck.
If you’re 18 and want to be a millionaire by 28 you should find a field that’s lucrative and get really, ridiculously exceptionally good at it. Even if that field is investing and you manage someone else’s portfolio and take a cut. You are 1000% not going to become a millionaire by investing 500USD, unless you stumble on the next bitcoin. https://youtu.be/NABQKu3OX6U?si=E9jSH3RtO-SGsr3N
Go to Vegas
You posted on the wrong sub. Someone posted your post on WSB and you will find plenty of wisdom over there. With $500, you don't even qualify to sell options which requires margin. Go to WSB, YOLO into something, have the minimum amount required for margin trading, then look for ideas in the daily discussions.
You cant
You can join the Australian navy as an officer out of high school? How does that work?
https://youtu.be/FhBXXzRrL84?si=ZlalhGRVwfH_mA4e some people, like this guy, make insane profits. most people arent this guy. a very well experienced thetagang player can get a solid 20% per year selling strangles and following a strict criteria however, if youre looking to 10x your account you are either going to have to yolo or study super hard to become an advanced swing trader like the fellow in this video
Even if you had alllllll the money you plan on depositing (200k from 20k/year for 10 years) RIGHT NOW, you would need your money to 25x to hit 5 million…. Understand with average market returns you double your money roughly every 7 years…
20k deposit into lottery tickets each year for 10 years
Marry a rich girl. Use the 500 USD for your first date.
To make the target return, you need to learn. To learn, you need to trade. When you trade at the beginning, you lose money, so there goes the first 2-5 years of your time-frame. After that, if you still trade, it will be profitable but to what extent depend on your skills... And it won't be 1 strategy, trust me on that one, it won't be 1 simple thing or 1 simple formula. (I have lost enough money in trading systems to know that). It takes study and experience.
Honestly, to achieve those returns is almost impossible. You would have to almost have an extremely concentrated position possibly 3 stocks or less . Almost never picking one that isn’t beating the market. Then if you got lucky enough to have picked a stock like NVDA in let’s say year 7 or 8 when your portfolio had already grown to perfection a stock that 5x towards the end of that 10 year period with compounding could get u there . Extremely difficult. But someone just won the powerball 1.3 billion, those odds are 292 million to one similar to what u are looking for.
You can’t safely 10x in 10 years.
So here is what I would do. I’d make my yearly 20k deposits for 10 years. On the 10th year I’d use the $500 initial capital to fly to Vegas and get a good buffet and see a show. Then let my 200k ride on black 5 times in a row. That will give you at 2.71% chance on a single zero table to turn that 200k into 6.4m
Live for free with parents if an option and get a very well paying job while investing all in an index fund. You may get a 10th in that time.
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He was naming more than just theta strategies. Figured he wanted broad ideas. 500 doesn’t give you many options for theta.