Being financially independent

Along_the_Wire

Dry-Tinder I’m similar, just a bit behind you - pensions at 60 and 67. Covid has put a proper dent in my plans though and I definitely need a redundancy to finish things off. I’m probably two or three years away.

Having said that, Covid has taught me that I don’t need as much money as I though I did.

Wally

Along_the_Wire I read something a while back that said if you can put 10K a year into an investment pot and get 15% ROI back, you’ll be a millionaire in 20 years.

I get that most people can’t shelve 10K a year but the 15% rate of return is easily attainable at the moment. Retiring at 60 a millionaire also sounds pretty decent.

Dry-Tinder

Along_the_Wire

One thing that I have learnt from Covid, sitting at home all day turns me into an alcoholic. I need to get out of that habit and find a better use of my time.

Wally

Kells77 Hearing rumours that RH are going to delay issuing stock certificate to new brokers to lock people into their buys for the next two weeks until the share price has sky rocketed, the long hedge funds have cashed out and the stock price has tanked. That’s going to be horrific for them if true (which wouldn’t surprise me).

Also hearing mutterings of trading places turning off the ‘sell’ button in the event the shares go supernova (again, until the hedge funds have bailed and fucked it.

Scary.

Millsy

Wally scary indeed.

C_J

Wally I read something a while back that said if you can put 10K a year into an investment pot and get 15% ROI back, you’ll be a millionaire in 20 years.

I get that most people can’t shelve 10K a year but the 15% rate of return is easily attainable at the moment. Retiring at 60 a millionaire also sounds pretty decent

10k p.a. @ 15% for 20yrs would get you £1.024m which would be worth about £700k in today’s money depending what inflation was over the 20 years.

15% p.a. roi over 20 yrs is pure fantasy unfortunately, unless you took a shed load of risk and got lucky. You’d be doing well if you got half that.

Hursty

And they have the balls to say crypto bent. Behaviour like this is just pushing more people into the world of DeFi.

Fuck playing a game where they can change the rules at will.

Old-Dutch

It’s always been that way, just now people are waking up to the concept / reality of make believe money

Wally

Millsy There’s rumours (so take it with a pinch of salt) that the reason places are up in arms so much over this is there’s been a massive sale of counterfeit shares for gamestop so there aren’t actually enough real shares to fix things even if places go bankrupt. It’s the whole corrupt system about to be pulled down. In the comments, it mentions people like Michael Burry have been hinting at this in tweets that get deleted 24 hours later.

Along_the_Wire

Dry-Tinder there is that. Get a bike.

-si-

Wally

That’s a great read, wally. And a genuinely fascinating theory. Imagine if that proved to be true? Christ.

Hursty

This really is a watershed moment we are witnessing in finance.

Tomorrow will be very interesting! I need to concentrate on work, but last week I turned into a day trader

A colleague at work is making around 500% yield on his liquidity stake on Uniswap, with total control over his assets.

Wally

I like this one 😃

Hursty

Who’s buying silver tomorrow?

Wally

Hursty Silver is a distraction attempt by the funds - it’s not going to be doing anything. Unless it does, in which case, let me know.

Amps

Hursty Count me in! 😆

Hursty

Wally So many games being played!

https://www.apmex.com/

Amps

Hursty So much tat available! I want my silver Pac-Man shaped!

Old-Dutch

Can you trust any of this or is it just a ruse to get fools to part with their hard earned?

Wally

Old-Dutch at this point gamestop and amc isn’t investing. It’s gambling but yes, as long as you remember not to be greedy, I think things are going up before they crash back down.

Hursty

Wally They will go up tomorrow, the question is by how much and it will only depend on how much manipulation the big players can inflict to quell the amount of trades.

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