Thread 61194290

Anybody here doing FIRE (Financial Independence Retire Early)? How much capital are you working with? What does your portfolio consist of? What percentage are you able to live off of with it?

I have enough for 25x my annual expenses, and wondering if it's the right choice to make. Already own my own place outright and have a pretty low overhead. What's been your experience like with it?

im built for bbc

I have $200k in ETH and have lived off its returns for 2 years

>>61194290 (OP)
the last trick of the boomer will be hyper inflation to wipe out all savings.

>>61194290 (OP)

I'm pretty much just about to cross the borderline into it. I'm a very frugal person content with a chill life, so networth about £360k. Goal was to get 3 studios / 1-beds, live in one, let the other 2. Have one which is earning nicely, about to buy a second with 100k cash, and got £100k leftover in BTC and metals. I should be selling it all for a third flat, but I'm rolling the dice on the silver squeeze, see if I get lucky. My life style is about £14k a year, so networth is about 25x years worth, but I'm planning to feed off the rent and build upwards rather than consume at a steady rate.

>>61194290 (OP)
My plan is to roll crypto gains into dividend ETFs next year and live off the passive income. But if we have a bear market instead I will probably rope desu.

>>61195739
that why buy gold.

>>61196112
I didnt understand a single word, you trouser wearing british poof.

220k and all i do is the "wheel options strategy". it is super simple and earns easy 3k to 4k a month.

sell options, collect premium. buying options is for reddit gamblers that go hero to zero in two weeks

>>61196439
Strongly considering this but I'm afraid I'll get wiped out.
Also don't you need to know TA to find out when to enter and exit?

>>61194290 (OP)
How much you have?

All annual expense is good, but really goal park numbers should work unless u have like 3 kids.

My number is 2m, im a few months from that. Sounds like u got it togather, however dont' goto reddit about FIRE.

For some reason if u post there u have millions, u get people telling you to *live life* and spend it? Baffles me that they want to re-enter the cage.

>>61194290 (OP)
Nope never heard of it. Tell em more

>>61196517
It just means stop GOYSOOMING. But redditors need to label this basic act as something special. To be fair to those retards, they are right. Not spending money is very rare and means you are mentally sick.

>>61196498
you don't get wiped out, when selling options, you have to buy the stock at the strike price. yes, you might have a bad entry, but you don't lose your shit like wallstreetbets rejects

go to yahoo finance on the daily, watch the "biggest loser" of the day. search for good businesse that lost like 10 to 25 percent and check the news, if it someting bad like a scandal or bad quarterly report, leave. if it some nothingburger like a analyst price target, you can now consider selling options on it.

i always pick a strike price that is 20% under the current price and pick a waiting time of 2 or 3 weeks.

good businesses : shopping, tech
bad business: airlines, cruiseships, mining, anything with medical stuff or drugs. and keep your hands off meme stocks like beyond meat. that garbage is going to zero.

>>61196534
How much percentage of a gain do you get every time you sell options?
Do you do it on big ETFs like SPY?
Is it really worth it to sell options on typical stocks?
I've got $600k and I want to see if I can do passive income with it.

Also what happens if during your position there is a major stock market crash?

>>61196521
Most sane wagelover.
>>61196517
FIRE is to retire from gig, wage, salary, and comission employment for the forseeable future before around 60 years old, usually in 20s to lower 50s. Any work done after isn't for survival or thriving, but out of passion or interest. It about having a strong position of financial sovereignty while either you're young or middle-aged. It also includes being able to continue to support any dependents you have at the time of early retirement (e.g. kids, old parents).

>>61196623
bro, with 600k you can easily get like 10k to 12k in premium a month, that's crazy.

i only target single low cost stocks, the higher the stock price, the worse the option pricing.

1 to 2 % per month are are super easy to attain. just keep the strike price super low, so you don't get assigned.

damn, 600 thousand. you could just throw that stuff into a 5% a year government bonds and just go to sleep.

I FIRE'd recently with a little over 1 million in net worth. Now I spend my time being a sex tourist in lower cost of living countries.

I was recently in Nigeria for over 1 month. The only reason I stayed for longer than 1 month was the women. Nigerian pussy explains their overpopulation problem. The women are fucking animals when it comes to fucking.

Mindless fuckbeasts that ride you till they have come so many times their pussies are too sensitive to keep going. Then they will take a 5 minute break and want to do it again. Their pussies naturally have powerful muscular spasms and squeezes from well-developed kegal muscles thanks to their shitty lives and constant moving around and 3rd world squatty potty.

They will wring you fucking dry. It will feel like your soul has been stolen from your body. You will experience male multiple orgasms, your dick staying hard after cooming and then just cooming again when your psychotic 6 foot tall jungle nymphomaniac clamps her pussy down on your dick to keep the blood inside of it, and keeps going. My personal record is ejaculating 5 times in an hour of rampant, sweaty, bareback breeding with one of these hyper-sexual, evil women.

I could barely move the next day, and I'm a pretty fucking fit guy. It felt like I had been beaten up, and I was. She left hickeys all over my chest and throat, and there were bruises all over my body from where she had grabbed me hard while she was coming. It was painful, but a very memorable experience.

Sounds pretty great? Well, sure, the first few times. Getting used like a meat dildo by insane criminal women IS fun, but the novelty wears off really fucking quick if you try to extract yourself from the situation. They think fucking you once means they own you, and that they own your dick. These women will travel across the country in order to confront you, scream at you, threaten you, try to get the police involved, anything. They are insane. Actually, literally insane.

>>61196744
all i read is "i got aids in africa"

>>61194290 (OP)
Women hate it. Better not be married. The second they see you not slaving for them and being miserable in their name, out come the Courts and Lawyers.

>>61196185
Same. Giving it six more months and then I am going in da woods.

>>61196744
Classic

>>61196726
>bro, with 600k you can easily get like 10k to 12k in premium a month
I know but I'm afraid I'm going to get burned and lose a lot of it. How do I avoid getting anally raped?

>just keep the strike price super low, so you don't get assigned.
Do you sell calls, puts or both?

>damn, 600 thousand. you could just throw that stuff into a 5% a year government bonds and just go to sleep.
inflation would eat me alive

>>61196813
i don't even know how you can safe up 600k and be such a little crybaby. just test it out with some bits.

the wheel: pick a stock, sell puts, collect money. if you get asigned you now sell calls and cellect more money, until the stock is high enough that you lose it due options or just sell it outright. you can get 2% per month easily.

don't be a bitch, bro!

>>61196844
>i don't even know how you can safe up 600k and be such a little crybaby
I got lucky with penny stocks

>the wheel: pick a stock, sell puts, collect money. if you get asigned you now sell calls and cellect more money, until the stock is high enough that you lose it due options or just sell it outright. you can get 2% per month easily.
That's cool and all but what about risk management? Could I lose a lot of it in a downturn?

>>61196878
pennystocks are not safe, bro. you gambled alot there.

you manage risk, by using super low strike prices. do not get swayed by high premium. you pick stocks that are already deep red and oversold and take a wide step down with the strike price of the options.

you also want to learn stuff about overbought and oversold, RSI and technical indicators. learn how to read a graph.

>>61196915
>pennystocks are not safe, bro. you gambled alot there.
yeah but I won.
I'm not doing that anymore since I already risked it for the biscuit.
>by using super low strike prices.
What happens if the strike gets hit?

look im willing to learn all of this stuff, I just don't want to get royally wiped out from one bad news event

>>61196972
the thing with selling options is this: when the strike price is hit, you are forced to buy the stock at the strike price, regardless if the real stockprice is way under it. if you are unlucky it looks like this:

1. you sell a option for strike 22
2. oh, noooes, the stock fell to 21 and the timer ran out?
3. shit, now you have to buy for 22, oopsie

>>61196986
Is it less risky than just holding the stock and it loses value?

>>61196844
i knew a guy who did this on margin even.... but he guessed wrong once with RIDE and got destroyed

>>61197033
most people sell options on stocks they are want to buy cheap, but at the moment the price is not right. that way you can get some money waiting.

i think it is less risky, because you can pick your favorite price. i always hate the moment when i buy a stock and in teh next 5 minutes the price falls down and i am already in the red. with the wheel strategy you have more choice.

>>61197062
i never do levered stuff.

>>61197068
i guess dont pick the wrong stock either. RIDE plunged and lost a ton of money.

>>61197080
>RIDE
>start-up
>electric cars
yeah, would never pick that trash in the first place.

I only say: NKLAQ

remember when they pushed that truck down the hill, haha

>>61196623
>I've got $600k and I want to see if I can do passive income with it.
Selling options is pretty low risk if you're dealing with decent stocks, it's really only slightly riskier than just holding spot stocks, it's not that bad.
But there's never a free lunch. Long term you'll probably get fucked one way another, either losing gains one way or another, but you don't have to play your entire stack doing it. If you really want to learn, do it with a few thousand for a year to understand it.
At 600k that's the time you should be moving more towards capital protection and less towards capital risk. I'd just throw it into an index funds like VTI or whatever. Let it ride, enjoy the free gains from that.
600k working for you forever in the total market is like having a minimum wage worker doing 40hrs/week and giving you 100% of the money. That's a comfy position to be in. Not really retirement tier, but the compounding alone if you can cover your cost of living other ways (living with parents/roommates, working), it will grow to million+ over the next 5-10 years. If you're saving a decent amount of money on top of that, you'll likely be able to retire in most cities within the next decade.

>>61194290 (OP)
The idea of retirement is kind of dumb to be honest. You will get bored and things will go badly over time.

Just keep your money in an index fund and only sell when you need it.

>>61196439
I do this too with around 500k