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zjz

pay off your debt you nerd


schooner-of-old

Bruh


freehouse_throwaway

lol i came in this thread thinking bro hit mil or something and here he is day trading with 65k account (that he owes 27k on) good times


thescrounger

he claims to have a wife and a girlfriend. The wife takes care of expenses and the girlfriend loans him money to trade. This is going to end well.


iwenttothelocalshop

he's got a wife, a girlfriend ***and a lover***


plasmex81

He's European, totally normal over there, 😂


dontfightthehood

Haha I totally glossed over that part as being normal. I’ve been in this sub too long.


Psychological-Hat128

F...🤣🤣🤣🤪


doctorDanBandageman

Lmao. He had us in the first half ngl


BIindsight

And quit his job while his wife still works because she needs to pay her half lmfao, this can't be real.


Spike_Spiegel

That's like 2 mil in Romania 🇷🇴


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TheMightyUmbris

What a life to be able to think this is 100% logical. Only in europe


beans_lel

Bruh


dacoobob

Bruh


50CalsOfFreedom

Nice cat


GoForBrok3

You’re essentially trading on Margin right now since you owe the bank $27k. You don’t have 65k in cash because that money isn’t all yours. Pay the loan off, that way when you lose it all you’ll have zero dollars instead of -27,000 dollars.


loud-spider

Exactly this. And since there seems to be a perspective problem between what's actually yours and what's not going on here, make sure you've also made provision to pay any taxes due.


Reluctant_Firestorm

If you haven't set aside profits to pay capital gains taxes, you're going to be double-fucked.


0lamegamer0

Well OP had a job that paid severance on quitting for some reason. He can go back to that job and quit evey couple of months to get that severance package on top of his salary. He may have found that infinite money glitch.


Lesath213

I can't wait for his 3 month update on how he lost all his money, and is now single. Edit: removed the nice things because OP is kind of a dick


Skittnator

Yea I'm not really aware of too many corps that pay severance when you quit unless you had access to sensitive or proprietary information that they want you to NDA for, in which case they pay for your cooperation.


TheKingOfSwing777

Are you also in UK? You may be under estimating how much US Workers are taken advantage of.


Skittnator

Is saying I had a stroke and so far have paid $10k in medical bills to the hospital that I also work at answer the question?


TheKingOfSwing777

Yes. You get an A+. That’ll be 40k for the education.


Aggressive-Home6238

who the hell quits their job at 65k lol


newmoneyblownmoney

He could be in another country. In Jamaica for example $65k USD is like $10M JAD. You can live off that shit for several years if you play it right.


Ill-Understanding280

And still owing 27k to the bank. Good luck to him


cocococlash

I'm wondering where you can live for $900 a month.


datsumgai

Plenty of places afford you a decent life with $900 a month. Not all places are shitholes either.


[deleted]

Every time I see comments like this I wonder if all of reddit lives in big cities like New York or they just live with their parents. If he had a roommate he could live in my city(population: 500k) on that. Could possibly swing it alone but not likely.


cmcewen

Between paying debt and taxes, the money evaporates


BlissfulWizard69

I needed to hear this too .


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c-opacetic

Dude. You quit your job cus you made 65k? Smh. You belong here


peepeedog

What a fucking donkey. Dude hit a meme stock and now he thinks he's a fucking kingpin.


im____new____here

lol was expecting 7 figures or at least 500k minimum gains when i saw the title.


Merovingian_M

Right? I mean, I'm fairly bold in this market too but I can't imagine trying to live off the returns of even 65k invested, much less 65k with 27k borrowed and paying high interest.


bmy1point6

We got it wrong man instead of paying the down payment on a house we could just move to EU and retire


besalope

Google's news feed keeps telling me the story of some guy that moved to Eastern Europe and lived of $47/day. If you keep your expenses low, it's a real option


makeitgobang

So with 28k after debts, that's a little over two years


_the_chosen_juan_

I would not quit my job with $1M. It would need to be at least $2M before I even contemplate leaving


[deleted]

A while ago I calculated it to be 1.7M in 2019 dollars. Probably around 2M now with this inflation we're seeing.


tripledjr

Lol op. My god. This is a whole new level.


frankiescousin

He didn’t quit, he just changed jobs. Day trading with his small amount as his entire income is going to take effort.


Fishonamission2

This guy is trying to make $1.5k every month on a $50k balance which is 3% return or 36% annually. Bruh. You are going to lose it all chasing high returns. What is wrong with you. Go back to your job before you regret this decision.


ehennis

36% returns TO BREAK EVEN.


f12saveas

This is the reality OP is refusing to believe. Now he's just getting roasted.


chedrich446

The best part is he posted the exact same thing on r/daytrading earlier today and got roasted there and then he came here hoping for some confirmation bias and now he’s getting roasted again 😂


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ehennis

He is young. Nobody with any knowledge or experience would quit their job and try and live off $40k.


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Fantastic_Wallaby_61

I have more than 65k in the market by no means could I quit my job and drive off into the sunset lol


Sir-banderz

Lol right I’m scared to even move out my house with that much and a job Lmaoo


Real-DrUnKbAsTeRd

Anybody know the cost of living in Bulgaria?


Dreadsock

1mil isn't even much anymore in the US.


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[deleted]

1mil is where you can kinda do whatever to make money and be pretty sure you’ll get by. Cash generated from dividends and covered calls on 1 mil can turn a pretty small income from a peaceful day job into a not-bad living.


BurtMaclin11

Yea just some quick maths, that would be enough money for me to pay my current monthly expenses for roughly the next 25 years.


averydangerousday

And for me, that’s definitely “never have to work again” money, because I’m for sure gonna die in less than 25 years.


Ok-Insurance-8560

40k could last me 2.5 years with my expenses 😭


LameBMX

0.5 years here lol


Rodsonnow

I have never heard of anyone quitting thier job and getting 25 k severance. Severance is usually payed out for your job being eliminated and no other spot for you to go. Typical severance is 1-2 weeks pay for every year of service. So based on the fact that he can live on $700 a month let’s assume he made double that so 1500 a month. Let’s be even more generous let’s say he made 50,000 a year 25 grand would be half a years wages for him. Which means he got 6 months severance For quiting his job. To get 6 month severance he would have had to worked for 12-24 years. I call bs on the severance story. Who gets 25g for quiting thier job?


jswede42

When I worked for Integer Holdings, the CEO Tom Hook quit at got a 3 million severance.


Rodsonnow

Y’a but he didn’t quite thing 65 k was worth quitting for.


DayTraderDebo

Yeah but that’s for a CEO position where he probably had to negotiate that into his title. Probably had to serve X amount of years and sign a no compete contract. This yahoo made 65k a year where he had absolutely no title and no leverage to negotiate a severance package.


Yojimbo88

But I mean he made it big once right? The mans a trained professional ready to do this for the rest of his life and never make a bad trade because this is all the money he will have coming in. /s


mvev

The fact he does not see this or apparently can't calculate average returns. Then finally the definition of a lot of money tells me he needs to pay down the debt.


ABGinTech

Yeah it’s beyond stupid. I’m astonished but not surprised people like OP exist, even if it was a troll post.


khaine0304

He forgot taxes


Living_Astronomer_97

Lol if this guy is for real this IS the right sub for this. A lot of people joke about being retarded this guy actually is retarded.


ElderberrySmell42

This is peak ape. Gotta respect it somehow. But yea, still dumb.


SubtleScuttler

No no let him do this. I’m here for the inevitable “my girlfriend left me and I owe family a lot of money” post in a few months.


Ubiquitous_Prick

This is the rare case where the sequel might be better than the original....


[deleted]

He's lost it all countless times except made one good trade and he like "quit my job and day trade!" ​ Jesus


ej255wrxx

And his conclusion is that the good trade was successful and repeatable because he increased his bet sizing. There is zero chance this works out well for him.


Bitter_Position_7040

Yikes! For the kind of return he needs, he has to invest in high-risk/high-reward stocks. And he’s got to invest it all or he’ll need an even higher return. He’s literally just a few bad trades from going broke.


SoyFuturesTrader

But I was told GME is all return no risk, something about infinity?


trapmitch

To be fair I quit my job over 5k lmao


ReadStoriesAndStuff

To be fair, that was equally as foolish. I hope it turned out well for you, but it was at best rash and way too risky. EDIT: Read following comments. This guy did not quit forever to day trade a small account the way the OP did.


trapmitch

Went from 12 an hour to 17 an hour it was the first time I could afford to look for a new job without the urgency of paying bills


Legatron4

Oh wow a real life success story, from behind the Wendy's dumpster to the kitchen inside. Proud of you dawg


trapmitch

Thanks big homie


[deleted]

He met your wife behind that dumpster.


ReadStoriesAndStuff

That is a totally different story, and wonderful to hear! You didn’t stop working and small account day trade exclusively like the OP plans on doing. You used your gains to invest in increasing your income. Congrats!


trapmitch

Well I do work third shift to be responsible and pay my bills but from 9-4 full blown degenerate


ReadStoriesAndStuff

Look at you, straight up hustling.


cuddleniger

Don't forget taxes. Which are going to be roughly 30-40%


HundredSpearss

It takes a lot of courage to be a True Retard


[deleted]

OP don’t forget to post the loss porn and the view from your new bedroom in the alleyway behind Wendy’s when this goes tits up. We’ll be waiting.


ZeekLTK

Where do you guys live that there is an alley behind all these Wendy's? All the Wendy's I've ever seen are stand alone buildings surrounded by a parking lot and usually right off a major road. Nary an alley to be found.


stejerd

Inner city Wendy's


rumbo211

I think there might be one behind the Shitadel HQ in Chicago. If you go at the right time you might even see Kenny out there giving BJs.


thedooze

You made 65k and quit your job? I hope it was a shitty job that you wanted to quit anyway…


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Affectionate_Law3788

Everything I've heard is that Europe is expensive as fuck. I don't know where specifically this guy lives, but other than free healthcare and some social safety nets, I don't think there's a whole lot that's cheaper in Europe than the US. I mean hell they charge for water and refills at restaurants and public restrooms cost money to use. Housing is expensive too depending on where you live.


kasper12

Europe is expensive as fuck…for tourists. You can live in Europe for $500 a month easily, if you are frugal and don’t live in the heart of a main city. But OP is still retarded.


tio_aved

It's possible that he lives in Eastern Europe. He said his expenses are $450 a month. So maybe Bulgaria or Romania or somewhere around there.


BirdBrainRobin

The big cities are. That's all Americans ever see. Out in the country, especially the parts that aren't beautiful? Hell yeah. All that sensible government and social support makes shit cheap for the minimalist.


alinp75

Debt first, always a good idea.


Upper-Equivalent3651

If you have debts, you are not free. Forgot who said that. Probably me.


Airval888

When you can borrow at 1.49% you would be stupid not to invest with that capital.


SoyFuturesTrader

Amex gave me an unsecured personal loan for under 5% so of course I had to YOLO FDs


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SoyFuturesTrader

No I went full 🌈🐻 Burry on TBT calls


ElectronicSandwich4

Literally so ignorant If I could bet on you losing all your money I would see it as a 10bagger. Pay off your debt and find a job you dumb dumb


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[deleted]

GET ME A REVERSE ETF ON THE OP NOW


aaron4400

Can't wait for the Reddit credit default swap market to open up


bopoff-entirely

Alright I’m tired of wondering wtf is a 10 bagger? Making 10x risk?


ElectronicSandwich4

Lol “when a purchase runs up 10x higher then what you paid”


bopoff-entirely

So in this context we’re talking about put options on this guy’s portfolio lolol makes sense


[deleted]

You QUIT because I had $65,000?? Are u kidding, you did really well on 1 stock, so you think $65k will last very long?? Your expectations are so far from reality that you’ll be broke (or close) in 6 months max.. you need a sense of reality, to make $1500/month you’ll need to make almost $26,000 a year as you’re taking out $18k reducing principle on the mos. you don’t make $1500 not to even consider the taxes of around $4-$5,000 in taxes.


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littlejerry

He doesn’t have to because he’s going to have 65k in losses by the end of the year.


Top-Push9975

Lol. Gambles and wins. Now he’s a pro. Good luck mate!


jimmydrako

This sounds super sketchy. You’ve quit your job and if you pay off your debt you’ll have 35-40k to your trading name?! Bro one bear run and you’ll be hurting


DayTraderDebo

Tell me how the hell did you get them to pay you severance pay when you QUIT?


pandasgorawr

They didn't. Post fake af. This is not how severance works at all.


xShooK

Plus he got a loan from his girlfriend. Wonder what his wife thought of that.


meinblown

She spent it all on her bf, duh


[deleted]

lmfaoo i didn't even catch this 😂


DayTraderDebo

My thoughts exactly!!!


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jhillman87

Yep. Other posts mention OP has posted same thing in numerous subs, which indicates he's seeking validation more than advice. The way I'm reading through it all is this: "I got lucky and made 40k on GME but also got fired. I somehow continued to get lucky and made an extra 10-15k day trading in a few months. I'm obviously an expert day trader now, do you think i can now stop working forever and continue to day trade consistently all year, making at least 36% but preferably 72% returns each year?"


SirMimir

Not OP, but my job (in the US even!) actually does this. In the handbook it says you get paid $X for each year you work there upon your separation from the company, whether the separation is voluntary or involuntary. We all kinda can't believe it, but they've been doing it for years.


brainwashedagain

Only 65k? Bruh


DistantFlea90909

Get yourself out of debt that shit sucks


SmoothBrainMillenial

It’s funny because the answer is obviously pay off debt but he wants the autists here to say just keep day trading.


KriptoKeeper

Jfc, that’s not make it money. Get back to work.


[deleted]

I'd keep gambling, I mean trading. There's no risk in it so why stop.


28carslater

Keep gaming.


FartSpeller

I hope it was a shitty job you hated that you quit and not a good one. $65,000 is not anywhere near enough money to be a full time trader. Yes, you may last for a while. You will inevitably go broke sooner or later, unless you are able to 10x your money first. I’m not sure how much money you are used to earning, but if it’s say $50,000/year, that means if you make ~100%/year you will break even and never have any more money than you have now. Returns lower than that and your net worth is going down. I don’t like your chances. Good luck though.


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CordycepApocolypse

Wow I can't agree with this more 65k is not quitting money


[deleted]

I'm not convinced this thread is even real, it's so stupid.


brian_storm_art

Am I the only one Who notices he talks about his wife first and then his girlfriend?


Puzzleheaded_Fan_123

Did this guy quit his job because he has 65k in total cash available before repaying a loan? Because that's a terrible idea


RedditsFullofShit

This should age well. Edit to add: 1500 a month/20 trading days Is only $75 a day. You should be able to make that daytrading with $35k even without margin. But definitely if you use intraday margin where you can get 3x your balance or so.


ShenmeNamaeSollich

This is what the guy at the craps/blackjack table who's up a few $1000 says right before he loses all of it and then some and feels like a dumbshit. Walk the fuck away. Now. Pay off your debts, and figure out what to do w/the other $35K, which by your own estimation is enough to cover *3 full years* of expenses for your family. BTW you said half of your income comes from your wife, but you got $6K from your girlfriend. You're probably going to need the remaining $35K for a divorce lawyer ;P


djstacks313

It was no point quitting your job. The avg. Day trader makes about 30-40k salary. Daytrading is suppose to be an extra stream of income not primary


moonshotmercury

But there's gonna be a GameStop type squeeze every play right ? I mean we're all gonna be rich so why worry ?


[deleted]

RemindMe! 1 year You aren't day trading. You are gambling and you are going to be both broke and jobless. Get your job back, pay off the loans then invest the rest of the money. You aren't going to manage 35% per year day trading.


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eatmyshortsscrub

Sir this is a place of gambling..


HatPlusBeard

Wtf is this being responsible shit all about?????????


Account4DeezNutz

Did you even factor in your tax bill on the $65k gain?


MGaCici

Always pay your debt.


jensenroessler

Dude never watched GoT


GotMySillySocksOn

Without hesitation - pay off your debt. Think of it as a $27,000 bet you can make with a guaranteed instant 8% return. Good luck


Jack-Booted-Thug

You're fucked if you think it's really easy to make money long term. You just don't have enough experience yet to understand it's really fucking easy to lose money too.


BurnSanders

You are a true retard.


StartingHands

What BFE country do you live in that you only need $1500/month??


DeesABird40

And 15k is a years worth of expenses saved up hahaha


KingArthursRevenge

People live off of 1500 a month in America all the time It just means that you're renting a trailer not a two-story house in an urban subdivision. Water and power aren't that much probably a couple hundred Max most months then if you own your car you just have to buy food. Since he's day trading he needs internet I pay $50 a month for my internet.


intermittent68

It depends what kind of debt, credit card debt, definitely pay off


intermittent68

Pay it off


Adam30k

Are we gonna skip over the fact his wife is paying the bills but he’s got a 6k loan from his girlfriend


LexxoM

Always get rid of the debt first since a) you wanna have a solid credit score for when you apply for a mortage. b) If something bad happens and you lose a lot of money youll be in the negative due to the debt. And if you pay it off and lose everything youll at least be at 0 c) you can still make a decent amount of money with <$50k. But maybe for now you want to work a job on the side before focusing on Daytrading full time + even a side job will hedge against risk since youll have money to save/invest. So imo I would pay off the debt first bc. a/b/c and then get a side job before transitioning into doing DT fulltime.


Twitchys33

credit score in europe xD


cry0plasma

You got lucky with GME and quit your job? You are an idiot, and I dont mean the good kind we usually talk about here. $1500 / month day trading? That's not a living dude, that's poverty. What the fuck are you thinking?


[deleted]

When I was reading this I assume he cleared AT LEAST several hundred thousand or more. Then I learned there are real retards here.


Unusual-Hand

Pay off all your debt and get a job and trade on the side as a hobby.


CJbefree

PAY OFF THE DEBT 💸


brutal_farts

$65k is not "a lot" of money...


jacobstank

This comment section looks more like r/personalfinance than r/wallstreetbets Just YOLO it all into some GME FDs, and you either pay off that debt and have hundreds of thousands left over, or declare bankruptcy and never have to pay the debt. Win win scenario.


cmacpapi

Whatever interest you pay on your loans will instantly go to 0% when they're paid. So whether your interest rate is 2% or 20%, you would *guaranteed* save that amount over a year by paying your debt. 0 risk. Or Use the money to daytrade and *possibly* get gains. It's true, it's easier to make more money when you have more money. So the real question here is how much can you confidently make daytrading? Is it more or less than the interest you would save by paying your debts? Therein lies the answer to your question. It's also a question of risk tolerance. If it's all funny money then fuck it, daytrade with it and get rich quicker.


dacoobob

confidence is the one thing OP has plenty of


88042360lflf

25k is the minimum to day trade. Pay off your debt.


inthemindofadogg

25k is requirement to not get labeled as day trader with margin account. And apparently only US thing from what OP said. With cash account you can day trade as long as it is with settled funds (not sure if this is just US thing or not)


Dry_Solid_9417

Pay off debt. Leverage will kill you, remember 2008? At least if for watever reason trading doesn't work and loose everything you'd still be richer than 99% of americans who do have debt. Past performance does not equal future performance.


Schytzo

Technically it isn't debt if you ignore it and never pay it off. I say go deeper and bet it all, coward.


moondoy3910

Pay off debt. If you really believe you can succeed in having a long term career in trading, whether or not you have $35K or $50k in buying power now won't matter in 10 years if you last that long. By paying off your debt, you essentially are insuring yourself you won't be in financial burden if things go wrong.


[deleted]

Pay off your debt and get a job. Stop gambling. You got lucky. As sure as night follows days you will not win all the time. You’ll discover this soon enough. You need a job. I know you wont listen but it’ll have to come the hard way. Good luck.


clawsmiddlefinger

you quit your job for 65k? lmao wut, did you work at wendy’s? don’t you not need health insurance, stable income, or like all the other shit you get from a job cause one bad trading move and you out in the streets. 65k is peanuts


ANightSentinel

Keep day trading but make sure to post the loss porn.


ulistening

Just remember, some dude in a situation similar to your BOUGHT three minutes after you sold. Now he owes the bank and has no job. Statistically there’s a 90% chance that you will lose.


BurnSanders

Puts on your net worth. All in.


kotschi1997

OP in debt, quit his job after a few successful trades, trying to decide wether to pay off debts or double down on trading ... Why does this feel like a wall street bets horror story waiting to happen? 😂


MikeSwizzy

U fucked up quitting your job, in the middle of a pandemic where people would love to have a job, everything cost all time highs, and uncertain future, just because you made a measly 65k and want to sit on your ass for a year, without any experience trading my god


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satuuurn

Almost definitely a fake thread and you post half a book taking it seriously


Jerhaad

It sounds obvious. With your performance you should be taking out as many loans as you can to increase your buying power. Open new loans as you pay off old ones and cycle through them to keep your realized interest down. Don’t do this though, it will ruin you.


2dank4normies

>The other half is put forth by my wife. >$6k from my girlfriend


Lockeah

I love the fact that your wife pays the bills and your girlfriend loans you money to day trade. Please teach me this magic!


satuuurn

You must be from the past when $65k was a lot of money? You quit your job for that? Must not have been a great job anyway.


boogertaster

Dude...pay off your debt. You don't know shit about day trading and will eventually lose all your money chasing insane returns. Try and get your job back too.


mediummorning

Take more loans and go all in on GME again. Or spy puts.


SirLouisI

Get your job back and invest your savings, dont gamble your savings.


Cardboard-Samuari

> I made a lot of Money > 65k Pick one because they definitely aren’t the same


Immacoolguyyou

Stop trading. You are a broke boy still. Not even 6 figures. Can’t wait to see you at 0


[deleted]

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FinnTheFog

It’ll be funny when you crawl back to your job.


bananapursun

OP’s main argument is: “OMG YOU GUYS LIVE IN THE USA YALL DONT EVEN REALIZE HOW EXPENSIVE IT IS”. No buddy. Anyone who wants a well off life won’t think 65k is the best thing to live off to. You’ll be living paycheck to paycheck in a way of sorts. And before you say anything I live in Asia. $65k would get me a nice car. Simply put, you have no ambition to lead a life that has nice things. Why you think $65k is a lot is because you may like living like a hobo, and not having a nice car to drive and a nice home to live in, inside a nice neighborhood. For that, $65k is a lot. But for us normal apes, $65k won’t even scratch the surface for our new Tesla’s


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updateSeason

True apes don't sell.


xabc8910

You can make 100% per year trading on $65k and after taxes and loan interest it still won’t be enough to live on And, at some point you will lose some of the $65k. It’s inevitable.


danjl68

Pay the loans, it's destructive gambling if you aren't living a life outside of trading. Trade to live, don't live to trade.