Quote:
Originally Posted by NemesisX
I totally believe it’s possible to do this, but one thing gives me pause. The fact that he made it to $14M at one point and still kept up with these incredibly high risk investments leads me to believe that he’s possibly a bit of a loose cannon and may have a gambling problem.
I can’t think of any reasonable human being that turned $200k into $14M who would look at that and keep going.
If he’s indeed at $30M right now, then he’s catapulted himself into top 0.1% of households by net worth. Something like the top 160,000 households in America are ultra high net worth individuals with $30M+. He should stop and put all of his gains (less capital gains taxes) into SP500 ETFs/mutual funds immediately. Anything else would be foolish. He can play around with 10%.
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That's my plan. Make as much as I can, and put it in ETF's as I go. Last month I made a little over $17K. Once I get $10K above my day trader status, I look for a down day in the market to move into the long term funds.
Then I start all over. I don't need the money now, so I get to "fast track" my retirement while still having fun in the market.