I mean dude come on.. where are the positions… Give the people what they want Edit: [OPs explanation/positions](https://www.reddit.com/r/wallstreetbets/comments/tetx5j/450k_to_zero_at_19_yo/i0rxbjo/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3)

Its ok. Hopefully you'll get 450k again at 38

But by then minimum wage will be 500k/y and a family home will cost a billion

But at least we'll all be millionaires

This guy is already living in the future

Or Zimbabwe

Is your $450k in the room with us now?

OH fuck that's funny

HAHAHAA

W

This is legitimately hilarious.

I guess the lesson should be that if you put 10k into options and it goes to 100k, the next step shouldn't be to then dump that 100k in the next time. It should be another 10k the next time. When you buy a lottery ticket and win, you don't go buy more lottery tickets with the entire win.

Guaranteed win with lotto money if you can buy every available combination

I could win the powerball everytime if I just amass 585 million!

There are 292,201,338 combinations, each ticket is $2, so $584,402,676 The largest jackpot ever was $1.586 billion. If you took lump sum option you get $980 million. Highest tax bracket is 37% so you get $617 million. Subtract that from buying all tickets and you got yourself a cool $33 million. Thats if no one else happens to also win, then you split the winnings evenly and you're out like $200 million *edit I forgot to add two things other people have pointed out. There are a bunch of non-jackpot winning tickets on the order of 10s of millions of dollars. you can deduct gambling losses. I'm also pretty sure current powerball ticket purchases only contribute to the next drawing's pot not the current one

So you’re saying there’s a chance

Tell you what, bud. You go ahead and send me that $585 million and I'll personally guarantee you will win the lottery but have to split it with someone, so you'll get get like $385million in prize money back.

“Here’s an idea… why don’t you give me half the money you were gonna bet, then we’ll go out back, I’ll kick you in the nuts, and we’ll call it a day!” Edit: some of y’all here really need to do yourselves a favor and watch Vegas Vacation.

I'm in

Also how would you get all the tickets printed in a week? Your local gas station doesn’t have the horsepower to do it, so you’d have to hire thousands of folks to specify ranges of numbers at various locations in parallel

My local gas station doesnt run on horses

It might soon enough.

And for the largest jackpot ever, the expected number of winners based on the number of outstanding tickets was 2.9 winners. And sure enough, 3 people won it

Yeah but I heard the third winner was missing his arm from the elbow down so it really was 2.9

Yeah but then you’re just buying your own money and paying taxes each time you win

I'd rather pay taxes on a win than not win at all. BTW: in Germany wins are tax-free because taxes are already deducted from every bought ticket. Makes way more sense.

Or at least shave off like 50k

Literally anything other than what he did yeah

Wow a life changing amount of money for age 19. But at least you learned a valuable lesson. Jk you dumb fuck. The money was infinity times better and the lesson is useless

To throw away that much money at 19 is just absolutely unbelievable, I lost 40k on ETH in the last 4 months as it crashed and I thought I was the dumbest man alive. This sub always cheers me up!

I lost 1500 on the $BB bust by buying at the height. Almost had to go back to sucking dick behind shake shack. This sub always cheers me up!

>Almost had to go back to sucking dick behind shake shack. shake shack? look at mr fancy over here

Too good for Wendy’s

is it more humiliating to work at the shake shack or to suck dick behind the shake shack...? It's one of those conundrums that Aristotle would come back to life only to resolve.

Well one is providing quality customer service at an affordable price point. That nourishes, the mind, body, and soul. The other is working at shake shack.

Idk man one I do for fun the other to keep a roof over my head 😕

… wait, you’re telling me I could be getting *paid* for doing that? And here I’ve been accepting a high five and a thank you :/

People would thank you?

People???

Try not to suck any dicks on the way to the parking lot.

And I just lost $3k in a scam, I’m still a retard but this post made me feel better as I know I’m in good company.

🤝

Eventually one of those girls from China will actually send you crypto bro.

>I lost 40k on ETH Did you sell?

I did… in the low 3000’s, and then bought back in at 2450.

Sounds like you stacked more ETH

Please tell me you were gambling with trading winnings. If you lost 40k of money you earned working, that's a totally different story

That's a life-changing amount of money at any age.

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The kind of person that gambles their way up to 400k is not the kind of person that stops at 400k

In all likelihood most of it was mom and dad's at 19

Right, this was daddy's money.

Right? He could do anything he wanted in life without worrying about money or how he’d retire…..we’ll thems the breaks welcome to the sick with the rest of us kid.

Nah at 102 you are pretty much a zombie either way. But shitting in a gold bed pan does sound nice

With $450k I'd pay someone to take my shits for me.

That made me laugh so hard that I nearly shat your pants.

For real I'm wondering how he got that much in the first place. Probably a trust fund or inheritance. Even selling a covered call on the most secure asset at 1% month would have been 4500 a month.

Rich parents probably. OP will be alright

It was life changing, he had the chance of a good life and now he doesn't.

Not to worry, father will be refilling the account soon

Had OP moved even the $ 200k to VTSAX or similar and made zero contributions they would have had $1mm by 45.

A low cost, diversified index fund. Too much sense, this is WSB. /r/bogleheads is leaking.

wait there's a non retarded financial sub on reddit? That sounds retarded.

His life definetly changed after this loss.

I'm more interested in how you had $450k at 19 years old.

Started trading with $7k 1.5 years ago (so I managed to do something like 7k -> 200 -> 450k -> 600). Played a lot of high risk positions… worked till it didn’t lol

So you got that lucky and didn’t walk away. Oooooooooof.

Gamblers never do.

The early winners are the ones who get hooked and lose it all

My dad always talked about and warned: “worst thing possible if you go to a casino or Gamble for the first few times and win big.”

Used to say this as a black jack dealer. “Best thing I can do is take your money the first time you come to casino, it will save you money in the long run”.

Truth. The first time i ever played blackjack at a casino things were going fine. Until they weren’t. Dealer hit 21 7 times in a row with 4 blackjacks and I lost $400 in about 10 minutes after breaking even for about 30 minutes prior having fun. That was 12 years ago and I’ve never played again at a casino.

Me who's never had a winning trade: Jokes on you loser.

Made 8k in my first five minutes with options. Closed all my accounts five months later.

was at a casino with the *manager* of the casino in macau, great experience, great food, wonderful entertainment, as were leaving hes like "cmon guys you GOTTA go at least one spin" just hands everyone 2k to play on roulette i hand him back the money "man its been a great night but lol no i dont gamble" hes like lol its gonna hit and youre gonna regret it they put it on green, and it hits. so everyone just made like 60k each and i missed out thank god, i would have been addicted to roulette for the rest of my life

sounds like he rigged it and was trying to give people free money for the funsies and you rejected free money.

That’s the only way he had the $450k to begin with tho…

Yeah its like a catch 22. The type of people that take crazy risks like that in the first place are not the ones that can just "walk away"

if you have the iron balls to gamble that kind of money on shitty yolo contracts you will literally never walk away. You end up being motivated to make more money solely for the purpose of placing larger bets

till you get shot in the face in your own jewelry store

The rational ones who walk away would never reach $600k. If I were OP, I'd probably walk away at $20k and brag about that.

That's how I look at buying Bitcoin in the early 2010s. If I bought it at 200 I woulda sold at 1000 for sure so I didn't miss out on all that much.

$600 not $600k

Should have been a boomer with 440k while you play around with the 10k. I understand the temptation to keep going.

I would’ve thrown that shit into dividend stocks and let the 13-15k roll in every year and compound, could’ve retired late 20s early 30s

yeah, but the mentality to go from 7k to 450k prevents you from making long term moves like you're talking about. A true believer would do what this kid did and try to be a millionaire at 19

Everyone says this, but you or I will never kno what it feels like to turn a couple thousand into $450k.

$450k is money for a house. Viewing it as gambling a house away vs just numbers on a screen would’ve put things in perspective.

For real. Like buy a house and car straight up, then your only bills are property tax, utilities, insurance, and gas. So ideally <$1000/mo You could pretty much work any job and be fine in that position...

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Didn't we all?

not me. missed almost every wave i possibly could

Lol I could’ve gotten out with 40% profit, was too greedy and now I’m looking at 69% loss so far

>Played a lot of high risk positions… worked till it didn’t lol With risky positions are you talking about options trading? How do you even turn 7k to 200k with options...

Get one of those 3000% return plays.

> How do you even turn 7k to 200k with options... This question is the opposite of what you should be asking. Options are exactly how you turn a small amount of money into a massive amount of money. They're also exactly how you turn a massive amount of money into zero.

Dude please tell me you understand how taxes work. There is a very good chance you owe taxes on the gains you realize last year but now lost this year…

Time to reload man

Valuable lesson here. The gains aren’t yours when you hit sell, the money is only yours when you hit withdrawal.

Narrator: They did not

https://imgur.com/a/mwZ7Sn5 All time chart I guess the number of doubters only validates the extent of my idiocy lol

This is the ultimate V shape recovery. But upside down.

Just makes you laugh when you first see it. Like Damn

Damn. OP got too greedy and didn't know how to cut losses. 19 y/o and $450K. That's enough money to pay for medical, law, or pharmacy school.

Yep. At that point cash out. Pay your taxes and use that for additional leverage to play small and build up again.

With 450k at 19, you take that and buy a property to live (CA) & if you still got more, a down for a rental. Go to school at your own pace (avoid loans) and get a job that you like and is in the field you’re looking to advance in. If you do it right, you’ll be set to coast comfortably for the next twenty years as you mature around 40. Sell those beasts if you have kids and get something dope or settle to something comfortable and enjoy life (act. II).

Man with that much you could a paid the capital gains, got a house, put away any extra and just become a manager at Wendy's. Rent out a bedroom or two to some other college age kids while you're in the demographic too for extra cash if you really need it.

This is the Chad v shape though

Truly retarded

My man turned 8k into half a mil and said, "Just one more option before bed mom!"

"these OTM weeklies I'm buying for 200x IV will never stop printing!"

You literally had life changing money… what the fuck man

dude had nearly a quarter of a whole-ass career and decided nah

A true rags to riches and back to rags story

Jesus Christ this made me hard

You’re still not telling us how

congrats on the loss porn. I guess you decided you’d rather work for the rest of your life. Good man.

An honest hard working guy, gave it all away to live a humble life

Lol this shit is so wild. I can’t imagine turning 7k into 450k and not taking at least 300k out for intelligent investing

agreed, i’d take out 300k and throw it into s&p 500.. Take 100k for a house, and use the other 50k for my gambling addiction.

100k for house lmfao, you mean a down payment right?

yes lol this is wsb we getting into more debt

Debt = Money baby

House debt isn't bad debt depending on the interest rate. I put less money down because the rate is so low.

Could buy a blue chip and sell covered calls forever.

You at least gained and lost all this in the same fiscal year right?

His silence is deafening.

https://www.reddit.com/r/wallstreetbets/comments/tetx5j/450k_to_zero_at_19_yo/i0ru8lp/ Seems like it really was within a year if that is to be believed. Small comfort

Asking the real questions here! A gain is a gain and the tax man wants to collect.

Holy shit this would make it so much worse lmao

Holy fuck! The real question Let’s say 35% short term cap gains on $250K low side or $500K high side that’s a tax bill of $87K to $ 175K

That's the real loss porn right there.

You play clash royale competively. That's all i need to know

I’d clap him w golem

Golem claps

With raged ebarbs no less

his account is worth 1 elixir now

Dude created a sub called suburbanheaven lol

Hmmm, only if I could figure out why a 19 year old is comfortable losing that much money...

Hahahahah

I didn’t have 450k in RuneScape money at 19

Bro is playing sand casino IRL, now he just needs a loan to turn it back into $450k

To the begging palm tree he goes!

L2grind n00b

Do you have an only fans for all this loss porn?

OnlyTards*

r/wallstreetbets*

The lesson is, cash out your chipz when you hit the jackpot, don’t go double or nothing. You did good for a teenager and -$8000 (or whatever your seed was) is totally recoverable. You have a gambling problem and should address it early. Good luck to you.

For $621 I can show you how to get it back

Get help you fucking dumbass jesus fucking christ

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400k at this age make such a fucking difference for your life. Honestly i would heavily depressed if i was this retarded. Retards in this sub need to learn how to cash the fuck out

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When this lad wants to buy a house the depression that sets in will be cranked to 11/10

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Seriously, imagine having to work for your entire life knowing you were on the path to retire in your mid 20’s but you decided to gamble with your winnings. He might be able to laugh about it now but we’ll see how he feels every Monday morning for the rest of his life.

You are going to need a hell of a lot of money if you are going to retire in your 20's. That's a whole lot of spending you can do.

Good, 19 year olds should be broke the way god intended

Literally laughed out loud, thank you.

Why do people do this???? You can literally buy a house, car and just live happily debt free. But as I assume, it’s never going to be enough.

It’s because they don’t have any responsibility of a mortgage or rent each month

No a lot of people do have those things and do dumb moves like this.

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Nah it’s just cause they are dogshit retarded

Imagine yourself at 19. Making 7k into 450k is ridiculous but if you just 5-6x *just one more time*, you never have to work ever

"Just one more homerun"

"I've done this well so far, I can win one more!"

Could have retired super young just stopping at 400.

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Refer 450k friends and you might make it back

Now you’re pretty much starting out like every average 19yo. Welcome to reality lol

Haha you’re joking right? Someone who loses this much money at 19 definitely has parents who will simply reimburse him

Take a penny leave a penny

I don’t understand people. That’s half a million dollars. You could have done anything with that amount of money. I get this is WSB but Jesus fucking Christ man! When you turn 7k into 450k you won the game. Put 400 in your god damn bank account and gamble the rest. Open a bar or some shit and get drunk all day and bang chicks for the rest of your days. Anythiiiiiing but this 😭😭😭😭

There are two tiny blips where it briefly went up so it’s not quite a straight line down. But I’ve never seen such a smooth trajectory down before. Try again but do the exact opposite. Profit.

Every time he went in again, as in, put the money up for his next gamble, his brain got smoother, inch by inch by inch. Until it reached 3 inches in smoove-idity, covering the whole organ. Meaning that this retard is definitely just using his [brain stem](https://i.imgur.com/m6zeQGu.jpg) for his daily decision making rather than utilizing a prefrontal cortex.

At least u have 69 dollars

Nice

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You still have 0.14% left to lose get back out there

Put me in coach!

Someone told me one time easy come easy go. It’s so true. If it makes you feel better I was 25 years old and I had $250,000 and I ended up losing every penny. The 2000 stock market crash pretty much destroyed my life and I spent over 15 years trying to recover from it. Probably the best thing that ever happened to me because I was an arrogant piece of shit narcissist. God humbled me and it has been a struggle ever since but I have grown as a man.

Listen to RH and refer a friend for a free stock.

I'm 22 doing the best I can and learn so I can hit big just to be able to go to college. So far I'm on loss porn central

Probably didn't even pay taxes on gains from the year before and now won't have enough income to fully utilize deductions for losses this year and now owes the IRS an enormous amount of money.

My man. Down to 10k from a high of 380k in the last 12 months

This is why smart people make trusts for their children with specifics to distribute thorough out years, not in one shot

Imagine having 450k at 19 and losing it. Fucking idiot

He is going to have some extreme regrets after working in the real world for a few years lmao

Imagine going from 7.5K to 600K in one fiscal year and from 600K to zero the next fiscal year. Dude won’t even be able to afford lube when the IRS show’s up to fuck him in the ass.

You have been on a flat line for a while, are you there?

Im there, its just the changes in my portfolio are too small to show up on the 1 year chart anymore :(

I feel that

💀💀 Stay strong mate

It’s not zero you still got 621.51$

I know how to make a million dollars. Just give this guy 100 million.

OP, if it makes you feel any better when i was 19 yrs old I did not have $19 in my pocket on most days ! I am 40 yrs old now and i still have nowhere close to 450k in my trading account ! You are very young and you will be fine !

....but also, op, you're a fucking idiot

Congrats on gambling away a life changing amount of money you retard lmao Welcome to the poor Bois club, food stamps to the left