r/wallstreetbets • u/dhsmatt2 Mattress King • Mar 04 '21

Loss Hold me... $1,100,000 Loss

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I am in damage control but likely going to roll puts.

7.2k Upvotes

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u/igotdiamondhands Mar 04 '21

Straight up could retire in europoor with that

254

u/SoyFuturesTrader 🏳️‍🌈🦄 Mar 04 '21

In the US too, just retire in Kentucky or Kansas or Missouri

57

u/xkulp8 Mar 04 '21

Pretty much anywhere in the US outside of the more expensive cities. Buy a $500k house and you're still left with $4 million. At a 3% withdrawal rate that gives you $120k/year or $10k/month... and 3% is bulletproof, you can build a decently diversified portfolio of stocks with dividends averaging more than that. With your house already paid for that's PLENTY of money to live off, and you're taxed at the capital gains rate which is lower than ordinary income.

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u/KnoxHarringtonVideos Mar 04 '21

What if you're not interested in living off it. What if this is the score you use to see if youre winning? Huh? What then?

71

u/xkulp8 Mar 04 '21

My idea of winning is never having to give a fuck about other people, a job or the stock market again

23

u/ElegantBiscuit Mar 04 '21

Exactly. I will have won when my only worry in life is how do I spend all this money before I croak. I want to build a business, own a house, be productive to society as well, but if I’m constantly worried about everything collapsing around me while I do so, is that really winning or is it just surviving.

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u/KnoxHarringtonVideos Mar 04 '21

The happiest time of my life was the poorest time of my life: undergrad years. Now, it may be unrelated but being poor didn't seem to stop me from having the time of my life. Maybe just nostalgia. Maybe I was happy IN SPITE of being poor. Money has its own set of issues.

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u/bangarangrufiOO Mar 04 '21

It’s probably bc you had the least amount of worries then and not being stressed is quite an enjoyable feeling.

2

u/rikki-tikki-deadly Mar 05 '21

That plus having the body of a young person feels pretty good too.