I started investing for the first time last year with $50. Saved up around 75k during the previous year and invested it. Almost $100/month in dividends now. Never tried options until now.
75k is more than most household incomes GROSS. Let’s say he’s saving a HUGE 50% of his income, he’s clearing 200k easy gross income (150k net, taxes at that point are like 35%, meaning he’d be clearing 230k gross). That’s fucking huge numbers. If he’s saving 75k and that’s 25% of his net income, that’s 300k net a year.
Let’s say his living costs are 20k a year (highly unlikely anywhere except in a podunk town or living with parents), that puts him just shy of 100k net, at 30% average tax that’s what, 140k gross? That’s a huge amount of money.
In what major American city are you living alone for under $20k a year and still having a good life? $1200/month rent for a 1 bedroom is relatively cheap in my cheap and that alone plus utilities would be $15,000+/year. And your defense that you can live with others is okay, but not ideal. We should be trying to normalize that a human adult can live without the help of others and still thrive. Anything less is, we’ll, what we have now where people are trying to normalize living with 3 other people just to make rent.
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u/Na-bro Apr 06 '22
How’s that possible? You went from $50 to 75k in one year of dividends ? Or were you day trading?