Worse week of 2018... When can we retire? Never?
Updated
Hi.
So I made nearly no progress in the past 2 months.
These times are pretty depressing. There were ways to make profit, not the past week or even 3 weeks thought, except maybe in stocks but still they are 5-10 times less volatile than usual. I heard that in OTC the 90%-200% crazy winners were gone and you only got 10-20% left.
I can only imagine someone that trades for income (sounds like a really dumb thing to do btw) would just get suicidal about now.
In 3 weeks I work at a new place, and it might be possible I can't trade at all during the day or maybe just at 12 when I can get out to go eat, and still that is not a certainty we will see. Hope I don't get slowed down.. too much.
I don't recommend quitting your job as long as:
1- You don't have your risk fully covered
2- The money you miss making by having a job is not far greater than what you earn
I am going to look at the worse case scenario for someone living on his own with no special expense, in europe.
So first of all you are going to want to own an appartment so you don't end up under a bridge. That can be bought for 100.000 euros even less.
Only problem is you won't be growing that money. So...
But well, at least you don't have to worry, it will help make better decisions.
Second, considering you don't make money everything goes wrong (but you have no debt and paid all taxes because you are not an idiot), countries in europe give people money for free.
How much do you need to spend for 1 month?
- Taxes. 1 year of breathing air is going to cost 500 for the appartment + up to 500 for various excuses to take money ("picking up trash" etc). So say 80/month.
- Internet (30) + Phone (30) + water bill (30?) + Electricity (110) ==> 200 / month
- Food. On a daily you are eating cheap for only 5 to 10 euros (1 kilo of good rice is < 2 euros, a Tuna can is < 1.50 euros, a box of 10 100g steaks is ~ 6 euros so each is 0.60, 1 liter milk 1 euro or less etc), so don't need that much 150 to 300 euros a month. Can be less if really need to.
So 430 to 580 euros is all you need. In France the government gives 600 euros a month for free to the poor or anyone that does not want to work.
So worse case scenario everything is covered.
Say you are living for 2000 / month don't really care to spend more. Owning an appartment is still good, you don't have to worry about paying rent. The cheaper the better in my opinion :) Not like some gross place, but ye whatever.
With just 50k in your bank account (all taxes covered...) you can go for a whole 2 years before that dries up! More than enough time to adapt to about anything.
And of course you want to be growing your wealth (faster than you spend it...).
Say you are good enough to be making 35% a year on your trading account(s), all brokers put together.
That should be well over 25k a year, say at least double. So 50000/0.35 = 150.000.
With:
- An appartment
- "Proof" that you can make consistently 35% a year
- 150.000 euros in your trading accounts
- 50.000 euros in your bank account
- No additional taxes to pay (and don't forget to secure what you will owe at the end of the year)
You are good to consider quitting your job.
If you earn 50k a year trading and your job earn you 50k too... It probably is not worth it quitting thought.
This is how I see it. Don't really need that much actually.
I don't know what other trades make, I heard 35% yearly was really good. Maybe for big accounts, I am way over that. Maybe I am just very good? :p
I wonder what other people think and when other people that did it, did it.
So I made nearly no progress in the past 2 months.
These times are pretty depressing. There were ways to make profit, not the past week or even 3 weeks thought, except maybe in stocks but still they are 5-10 times less volatile than usual. I heard that in OTC the 90%-200% crazy winners were gone and you only got 10-20% left.
I can only imagine someone that trades for income (sounds like a really dumb thing to do btw) would just get suicidal about now.
In 3 weeks I work at a new place, and it might be possible I can't trade at all during the day or maybe just at 12 when I can get out to go eat, and still that is not a certainty we will see. Hope I don't get slowed down.. too much.
I don't recommend quitting your job as long as:
1- You don't have your risk fully covered
2- The money you miss making by having a job is not far greater than what you earn
I am going to look at the worse case scenario for someone living on his own with no special expense, in europe.
So first of all you are going to want to own an appartment so you don't end up under a bridge. That can be bought for 100.000 euros even less.
Only problem is you won't be growing that money. So...
But well, at least you don't have to worry, it will help make better decisions.
Second, considering you don't make money everything goes wrong (but you have no debt and paid all taxes because you are not an idiot), countries in europe give people money for free.
How much do you need to spend for 1 month?
- Taxes. 1 year of breathing air is going to cost 500 for the appartment + up to 500 for various excuses to take money ("picking up trash" etc). So say 80/month.
- Internet (30) + Phone (30) + water bill (30?) + Electricity (110) ==> 200 / month
- Food. On a daily you are eating cheap for only 5 to 10 euros (1 kilo of good rice is < 2 euros, a Tuna can is < 1.50 euros, a box of 10 100g steaks is ~ 6 euros so each is 0.60, 1 liter milk 1 euro or less etc), so don't need that much 150 to 300 euros a month. Can be less if really need to.
So 430 to 580 euros is all you need. In France the government gives 600 euros a month for free to the poor or anyone that does not want to work.
So worse case scenario everything is covered.
Say you are living for 2000 / month don't really care to spend more. Owning an appartment is still good, you don't have to worry about paying rent. The cheaper the better in my opinion :) Not like some gross place, but ye whatever.
With just 50k in your bank account (all taxes covered...) you can go for a whole 2 years before that dries up! More than enough time to adapt to about anything.
And of course you want to be growing your wealth (faster than you spend it...).
Say you are good enough to be making 35% a year on your trading account(s), all brokers put together.
That should be well over 25k a year, say at least double. So 50000/0.35 = 150.000.
With:
- An appartment
- "Proof" that you can make consistently 35% a year
- 150.000 euros in your trading accounts
- 50.000 euros in your bank account
- No additional taxes to pay (and don't forget to secure what you will owe at the end of the year)
You are good to consider quitting your job.
If you earn 50k a year trading and your job earn you 50k too... It probably is not worth it quitting thought.
This is how I see it. Don't really need that much actually.
I don't know what other trades make, I heard 35% yearly was really good. Maybe for big accounts, I am way over that. Maybe I am just very good? :p
I wonder what other people think and when other people that did it, did it.
Note
If I make 400.000 I habve to pay HOW MUCH? 154617 €
OMF
Time to tax evade. Or reduce this...
I am not your fking slave.
Correction: you can never quit your job. Start a revolution!:!
Fleee!
And same shit as usual the big billionaires that have immense wealth and invest are not going to pay anything...
The same people are paying always. The smarter you are, the more worthy you are, the more you'll pay for "self made" billionaires, low IQ trash, lazy losers etc...
Solo carrying hundreds of people -.-
Note
If I ignore them and pay as late as possible thought... :}And flee the oppression...
Can they just take my home and throw me in the street?
Note
How to tax evade successfully!slate.fr/story/10119/comment-reussir-son-evasion-fiscale (french)
topaccountingdegrees.org/taxes/
accounting-degree.org/accounting-tricks/
Going to have to learn about all this.
Hey these dumbasses eating for 5000/day at the government with my money, if they let me keep it I can grow it and they will be able to rob more from me later.
Every one is happy.
Going to have to find stocks to invest in by the end of the year or something.
Note
Another sneaky way to use assets to make tax-free income is to put mortgages on your current properties until the rental income equals your expenses. This has the advantage of allowing you to borrow money against the value of those properties free of tax: for example, if the property was valued at $2 million and you can borrow 75% of the equity, this would give you $1.5 million of tax-free borrowing.The money cannot be taxed because, technically, it isn’t income: as with the previous loophole, it’s officially classed as a loan. Unfortunately for the little people, this just proves the truisms of the world of finance: the more money you have, the easier it is to get more.
the truisms of the world of finance: the more money you have, the easier it is to get more.
the more money you have, the easier it is to get more.
The usual BS.... So fair.
Note
People starting from nothing have to go through:- Hate & jealousy
- Bills to pay
- Jobs that get very much in the way
- Huge taxes
- Regulations to "protect" them
Meanwhile, let's celebrate "self made" billionaires that never worked in their lives.
Let's put their pictures on magazines and give them awards.
Damn this planet is retarded, how tf did I end up here?
Humanity does not have long left lmao, either 99% die, or maybe even total extinction.
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