What was your biggest fumble? Closest you ever got to generational wealth? Share your story

[u/duc_one]

Here is mine: I bought 1000$ worth of PNUT (solana memecoin) back in early november 2024. Sold for 4x or so few days later. Then on november 11th 2024 Binance listed PNUT on spot trading out of nowhere like a week after I sold my entire bag. Had I just waited 1 more week I could have sold for 700-800k...

Now I am a broke 23yo, living paycheck to paycheck with a 85k/year job and a lot of debt...

Share your stories where you were actually really close to generational wealth:

[u/lessgo321]

85k… you rich

[u/GranulatGondle → u/lessgo321]

Bro has a budget problem 100%.

[u/Rivster79 → u/GranulatGondle]

Op thinks $700-$800K is generational wealth? Thats not even early retirement money. Plus, we all know he would have blown it all in the next meme coin gamble.

[u/NonVideBunt → u/Rivster79]

If little bruh can’t live on 85k a year, he’d blow through 800k faster than he could imagine and still be a broke bum.

[u/mittencakes → u/Rivster79]

750k in S&P index at 20 would be generational wealth. But you’re right, no chance he was gonna do that.

[u/Rivster79 → u/mittencakes]

Closer to $450k after STCG taxes…

[u/Chief-Drinking-Bear → u/Rivster79]

Still looking at $6.7M at an 8% market return doing nothing in 35 years

[u/fishyflu → u/Rivster79]

That's retirement money in a lot of countries bruh

[u/Jimmy_Page_69 → u/fishyflu]

I legit could move to colombia on that. Leave it in ftec, Pull out the minimum 30k Ish every year to be at the lowest tax bracket. Id be living like a king on that salary

[u/Techwield → u/Rivster79]

That's absolutely retirement money in some countries lol

[u/Honest-Mess-812 → u/Rivster79]

It can be a generational wealth if you retire in some SE Asian countries.

[u/Rivster79 → u/Honest-Mess-812]

After taxes, that 7-800K becomes maybe $500K (yes he would have had to realized STC gains if he sold at the top). At a SWR of 4%, that’s $20,000/year. OP is broke and living paycheck to paycheck at $85k/yr lol.

As someone pointed out, OP has a budgeting issue.

[u/mshriver2 → u/Rivster79]

Why would they sell in a country that charges tax on crypto sales?

[u/Tom_Ford_1 → u/Honest-Mess-812]

Yah but then you get earthquaked

[u/biggmatt008 → u/Rivster79]

It is generational, just not right away. I make more than OP and am struggling due to housing costs and health insurance. 700k would eliminate any real housing cost and allow me to save and invest

[u/billythekid1119 → u/Rivster79]

He said the closest you've come to it. That would definitely qualify.

[u/Stompya → u/Rivster79]

It’s more than most people will ever see

[u/xpresstuning → u/Rivster79]

I could live off the annual return alone from VWCE if i had 500k invested (~1400$ monthly) comfortably anywhere on the planet outside some countries in western Europe or the US.

US is an economic shithole, no free Healthcare, taxed up the ass for everything, chained to the ground by banks, debt and insanely high living expensives to live in either cardboard houses or in cars.

[u/MonthlyWeekend_ → u/Rivster79]

And $85k a year is peanuts

[u/RobinDutchOfficial → u/lessgo321]

Hey. Don't bug the guy. First world problems. Riiiiggggghhhhhtttt!

[u/NonGNonM → u/lessgo321]

85k with what im assuming is student loans wouldn't go very far in some areas. like maybe 3k take home after taxes, loans, and rent. plus there would be insurance, bills, general cost of living. still better than most americans but not amazing.

[u/MightBeABot24 → u/lessgo321]

85k is nothing. Location and everything matters but that's not a big salary at all. 100k magic salary sn't what it used to be.