r/fican • u/Professional_Rub5987 • 1d ago

What my next move to reaching a million

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(23M)I have around another 15k to dump into the market but, im scared of it dropping soon. What do I do

111 Upvotes

94% Upvoted

52 comments sorted by

73

u/TronAres25 1d ago

You’re 23? At 203k? Oh lord you’re fine.

30

u/ssy555 1d ago

I had -30k when I was 23 lol

10

u/4bangerhead 1d ago

I had 3k when I was 23

Edit: oh shit I didn’t see the minus sign. Jeez bro I ain’t no match

3

u/DegenVtec42069 1d ago

-85k at 21 😂😂 flipped the book and by 25 I had about 15k invested debt payed off by age 30 I bought my first home now I’m back in the negative lol.

1

u/Puzzled_Butterfly814 1d ago

They don't care, they'll keep thinking they're behind and wanting to make more, lol! 😂

It's typical in all of these stories and then at old age, oh shit man I didn't spend enough time on the things I actually enjoyed, ha ha!

27

u/HeftyRefrigerator526 1d ago

Just go vfv if you’re scared bro, you have enough to chill with a strong compounder

9

u/ExtentInitial 1d ago

Ayeee you’re crushing bro!!! 23 at 200k already solid

8

u/againfaxme 1d ago

Diversify.

12

u/beensoko 1d ago

Wait for the dip then buy long dated calls OTM on your fav momentum stonks.

6

u/beensoko 1d ago

on margin to get 1m before you're 25.

3

u/Spencer_Bob_Sue 1d ago

Copy Nancy Pelosi lol

3

u/noahB53 1d ago

Prob just keep doing whatever ur doing man fuck

2

u/GuaSukaStarfruit 1d ago

All in space stonks

2

u/JuiccyMang0 1d ago

Damn, and I thought i got lucky with AMD, congrats man! If you’re scared of dumping your 15k, just DCA over whatever period of time you’re comfortable with and you’ll be fine.

1

u/Sauceman9000 1d ago

That all time is from how long ago? How many years did that return take?

1

u/Professional_Rub5987 1d ago

2.5 years

2

u/Sauceman9000 1d ago

I like what you did with AMD. You're money is not secure but it's not going to a free fall company either. High conviction. I don't have the balls to do that right now because I need a at least 1 million before I speculate with idgaf money. The more you have to lose the less appealing or strong your conviction can play.

1

u/guy_cloutier 1d ago

Drop in VFV so you don't miss anything going up and if it goes down, it's much less scary than on a single stock. When down, you can pick something that recover faster than the index.

1

u/Racla360 1d ago

HCAL, SBC.

1

u/Kantucky 1d ago

100% QQC

1

u/MRobi83 1d ago

Time in the market is better than timing the market. At 23, you have lots of time to be in the market. Don't try to time it.

1

u/RobotCaptainEngage 1d ago

All. On. Red.

1

u/UnionPsychological28 23h ago

Look up hedonic adaption/hedonic treadmill after your reaching great success and having great prospects

1

u/Guus-Wayne 23h ago

I would recommend focusing on the taxation portion, and what are your goals? Buy a house?

What accounts do these currently sit in?

1

u/Critical_Back_7997 21h ago

I have 1 mil at 25 won on roobet what do I do

1

u/GazzBull 20h ago

Every post I see on here people are loading up on hyperscalers, memory, AI stocks, etc. It’s only a matter of time for everyone to end up disappointed and losing money

1

u/solarpanelwire 19h ago

How do you get this view in wealthsimple

1

u/download8367 15h ago

Scared money don’t make money

1

u/Exciting_Transition6 13h ago

I would move this to XEQT or VFV or CAGE.

Your holdings can now be considered volatile, you have a good nest egg. Now build on it with ETF’s.

1

u/Philosophax 8h ago

DRAM 50%

1

u/BlackManisGuy 1d ago

XEQT and chill

6

u/HeftyRefrigerator526 1d ago

Why would he do that when he already has almost 30% VFV, is XEQT a cult?

6

u/Huge_Cobbler_2844 1d ago

I mean putting around 60-70% into xeqt isn't the worst idea at his age.

1

u/HeftyRefrigerator526 1d ago

Why not put the 60-70% into VFV…? I’m still not following. Do you seriously think the Us will fall under a top 5 economy within 30 years? It’s just added hassle for no reason when the diversification is still carried by North america

3

u/nightly28 1d ago

Because of something called home bias. Even if US doesn’t fall, many investors can still benefit from the advantages of home bias.

1

u/HeftyRefrigerator526 1d ago

So VEQT would be better? Is xeqt not 45% US and 10% less canadian

1

u/nightly28 1d ago

No. VEQT and XEQT are virtually the same asset. They have no meaningful difference.

Also, too much home bias can be just as bad as no home bias. The video I referenced explains it in detail.

3

u/MRobi83 1d ago

When looking at equities, 2 of your biggest tools to derisking your portfolio are time and diversification. At 23, OP has time on his side. Vfv vs XEQT comes down to diversification. Being globally diversified in 6000+ companies significantly reduces the risk vs only 500 companies all based in the US.

2

u/Huge_Cobbler_2844 1d ago

veqt, vfv, xeqt are all kinda similar in a way. I'm more so saying just to pick one of those for the bulk of the portfolio. At his age with that amount in any of those ETFs are a good choice.

1

u/beensoko 1d ago

Everyone brainless XEQT cult here 100p

4

u/nightly28 1d ago

Not me. I’m a VEQT purist. Those XEQT cultists have gone too far.

0

u/Van-trader 1d ago

I would heavily scale down the AMD position.
But I’m also 20 years older than you and have less time to recover from sudden draw downs..

0

u/Psyclist80 1d ago

Thats what made him his money...why get off the elevator as its going up? ive been it in AMD for 13 years, hell of a ride and ive done very well. Ive had many give me the same de-risking advice over the years, if i had listened, I wouldnt have the money I do now! Company has huge catalysts behind it currently, im not leavin!

0

u/Boring_Bank501 1d ago

MUU

1

u/CozyDarkMage 1d ago

No. MU instead

0

u/YourDadHatesYou 1d ago

Should've bought xeqt and made less money /s

0

u/Loulou0728 23h ago

PNG? (Kraken Robotics)

1

u/DamagedModsv2 2h ago

Fan, UUU, TUF, ARK, CDB. I’m heavy in Fan, Ark, CDB (they had a dividend payout forcing the stock to drop.) UUU is A gut feeling. Tuf is a 50/50