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Thread 60857119

23 posts 6 images 18 unique posters /biz/
Anonymous (ID: enZsQCOh) No.60857119 >>60857256 >>60857289 >>60857318 >>60857323 >>60857711 >>60858799 >>60859806 >>60859961 >>60859973 >>60862344 >>60862561 >>60862577
I'm going to put my 500k USD life savings on black playing roulette at the casino. If I win I stop working forever. If I lose I take a long walk off a short pier. Thoughts on this financial strategy?
Anonymous (ID: gTA21KHY) No.60857256
>>60857119 (OP)
Just put it all in link and wait a year or two and enjoy your 5 million dipshit
Anonymous (ID: qyNIe2dI) No.60857289 >>60857319
>>60857119 (OP)
Don't do it on a triple green roulette
Anonymous (ID: /jRKb2gj) No.60857318 >>60857319 >>60858567 >>60858799 >>60859955
>>60857119 (OP)
Casinos have bet limits, I don't know of any that would allow that high of a bet. Your odds are also less than 50/50 becaus of the 0 and 00, and even lower at some that also include a 000. Black and red pay 1/1, so even if you win $1millon isn't enough to live your entire life on. Even if you only spent $25k a year, which is below poverty level and almost impossible nowadays, it'd only last you 40 years, and that's not even considering health insurance or unexpected big expenses, buying new graphics cards or other expensive gaming stuff, buying vehicles, taxes, and here's the big one... After paying the 40% capital gains tax you'll actually only have $800k which reduces your $25k per year for 40 years down to 32 years. I'm guessing your in your early 20's so that won't even last you until the typical retirement age.
Anonymous (ID: t8w8xs/c) No.60857319 >>60857324
>>60857289
>>60857318
I will play with a single zero wheel
Anonymous (ID: EDBELDmS) No.60857323
>>60857119 (OP)
Quantum Suicide Chad Behavior
Anonymous (ID: /jRKb2gj) No.60857324
>>60857319
That means you live in Europe, so you won't even last 30 years with $1million. Probably closer to 20.
Anonymous (ID: IwX8ZLvL) No.60857711 >>60858553 >>60860010
>>60857119 (OP)
This is why gambling should be illegal.
Anonymous (ID: /jRKb2gj) No.60858553 >>60859948
>>60857711
>Control me please daddy government
Anonymous (ID: xjDwtvA8) No.60858567 >>60858617
>>60857318
put 1mil into spy. average return is 7-10%. enough cash to wait out corrections and dumps. withdraw 3-4% every year. why do you assume a young person wouldnt do that?
Anonymous (ID: /jRKb2gj) No.60858617
>>60858567
Are you illiterate or schizophrenic?
Anonymous (ID: tI6msDCi) No.60858799 >>60859955
>>60857119 (OP)
>on black
should put it on red
>>60857318
>Casinos have bet limits
I saw a story about a teacher that did this some years ago, just need to get the casino onboard beforehand. Some will give you a shot since the story can drum up publicity.
>After paying the 40% capital gains tax you'll actually only have $800k
800k is nearly make it territory if you can live without a car in a rent controlled place in a mid or low-tier or rural area you should be able to keep costs down, at 4% withdrawal rate that's 32k/year.
My make it number is 950k USD, or 38k/year based on my current spending with a paid off car. I actually only pay 32k/year (when I look at all the money that's left my account over the past year) but I aim for 38k so I can set aside some money for one-off expenses like car repairs, and replacing my computer/phone every 4-5 years.
I could live without a car as well since I live near a grocery store and don't get out much, removing the car maintenance/gas/insurance expense would bring me down to a 35k/year target or 875k, which is still short.
Saving up 75k is pretty easy once you're at 800k though, just move in with parents for a year or wage one more year.
Alternatively, OP could easily live on 24k/year comfortably in SEA for a few years, reinvesting an extra 8k/year and letting his portfolio compounded even more until it's enough to retire back in america in a few years.
Anonymous (ID: PXgb8/RK) No.60859806
>>60857119 (OP)
>bought based pepe after seeing the payment demo clip
>immediately thought “this is actually usable”
>bag hasn’t left my wallet since
Anonymous (ID: IwX8ZLvL) No.60859948 >>60859965
>>60858553
Humans evolved to evaluate environmental risks, involving immediate danger and finding water/food. We did not evolve to assess the risk of losing our and our family's livelihood over a game of cards. Wouldn't it make sense to have society be structured in a way to prevent catastrophic losses from gambling addiction?
Anonymous (ID: EXGIHvpI) No.60859955
>>60857318
>>60858799
>tax on casino winnings
Do westerncucks really?
Anonymous (ID: ClUEEwpz) No.60859961
>>60857119 (OP)
Killing yourself over less than a million dollars is cringe as fuck
Anonymous (ID: ClUEEwpz) No.60859965
>>60859948
This is why things like social security should exist and I don’t even like socialism or having to pay 6% of my paycheck. You need safety nets because 90% of society are mouth breathings retards. You need to protect people from themselves
Anonymous (ID: 3uE8d9h8) No.60859973
>>60857119 (OP)
it's not a good strategy
Anonymous (ID: nrEkADqd) No.60860010
>>60857711
No. It's why short piers should be illegal.
Anonymous (ID: kVY8wGun) No.60862344
>>60857119 (OP)
I did the same thing six years ago with 18k at the casino. I won and put it all into shitcoins, and to this day I'm still trying to recover that same money with things like note.fun and alts
If you win, just don't touch that money ever again
Anonymous (ID: ccTC03t+) No.60862402
I've unironically considered doing this before kek. Make it or suicide.
Anonymous (ID: RkTBQl9v) No.60862561
>>60857119 (OP)
Kys retard.
Anonymous (ID: nL0ZnDEQ) No.60862577
>>60857119 (OP)
>pays 1:1
You're retarded. You could make a 100% gambling on stocks.