Building wealth is super hard but losing money is easier than breathing
I ended 2022 with $1.4M liquid with my portfolio going down ~600k in a year 2023 has been a great start so far. The stock market has been very volatile and in the recent crash (Jan – Feb), I bought ~$20K of various call options ($TSLA) which I have cashed out and netted $100k+ in…
2022 was one of the most important year for me. In early/Q1 2022, I hit $2M+ Net Worth in liquid (stocks and crypto) but by the end of 2022, I am now down to ~$1.4M (due to the crash in $TSLA, $BTC/crypto). At the start of 2022, due to massive gains from 2021, I decided…
A year ago on November 2020, I set a goal to achieve a NW of $2M by end of 2022. I crossed $2M on Oct 2021 , a full-year before my target date. I also bought a fourplex investment property – which after renovated by mid 2022, is projected to yield me 5%+ cash on…
On late October 2021, I crossed $2M+ NW. I crossed my first $1M mark in July 2020 . Then, it took me ~8 months to increase by NW by 50% and cross $1.5M NW. 8 months forward, now I am sitting on over $2M. At the time of writing this post, My NW is ~$2.06M…
On March 2021, I crossed $1.5M NW. At the time of writing this post, My NW is ~$1.53M. I am expecting to pay $50K+ to IRS for income tax next month though! Yikes! :(. After I crossed my $1M NW mark in July 2020, it took me ~8 months to increase by NW by 50%.…
In 2020, I did active stock trading (mostly swing trading) and made ~$67,000 in total, which comes out to ~$5580/month on average. As I am filing my taxes, I realize I will have to pay ~40% of my stock trading profits to IRS for income tax or ~$26,800 + other taxes. In total, I have…
Earlier this year, I hit a $1M NW in 4 years starting from close to nothing in 2016. My next milestone is growing my NW to $2M by end of 2022. As of now, my portfolio looks like the following: 15% cash 30% dividend blue chip stocks, 5% for trading stocks – used to generate…
In Oct, I made ~$6,245 beside my full time job. Breakdown of my income: Dividend from stocks (100% passive) – $594.xx Trading stocks (2-3 hour a day with 3-4 days per week) – $5651.xx I am pleased with my trading wins this month. I managed my risks and cut my losses sooner. Positive: I made…
I have been reading a ton of books, blogs about how people have amassed an incredible net worth over $10M+ (in the top 1% NW in US). It’s incredibly hard to get to $10M NW club. Even if a person makes $1M in salary and is able put aside $400K / year and invest diligently,…
In Sept, I made $4,869 outside full time job. Breakdown of my income: Dividend from stocks (100% passive) – $1063 Trading stocks (2-3 hour a day with 3-4 days per week) – $3806 I could do better on my stock trading. This month I had to take a couple of heavy losses on NFLX stocks. Need…