- This topic has 51 replies, 1 voice, and was last updated 7 months, 2 weeks ago by
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I have almost $2M in crypto and 150k in stocks, 40k cash.
Am considering selling my crypto and diversifying next year and then quitting my $300k TC software engineering job.
Is this scrotebrained? Will it be hard to get another job if I have a big employment gap? I’m an above average software engineer and also have a side tech business bringing in 100k/yr but it’s not stable.
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I would do it. Just focus on your side business and doing freelance
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I’m quitting my 90k swe job and I’m dogshit and only worth 50k total, so at least if it’s a bad choice you won’t be the only one who gets bonked over. I’m tired of doing this shit.
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You have more money than you freaking know what to do with. go buy cheap property in the north or go live in SEA/japan or some shit and retire.
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Forgot to mention I own a 500k apt in NYC with 130k equity. I was thinking of spending a year traveling and get some time to think about what I want to do.
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>$2M in crypto
This is enough to last you a lifetime of comfortable living. -
Both your side business and your investments are each enough to comfortable live the rest of your life on. Even if the business fails you can fall back on your investments.
And no, it won’t be particularly hard to get employed again after a gap, especially if you say you were working on your own business.
If you don’t want to keep doing your job then you couldn’t really ask for a better position to be in to stop. -
>Will it be hard to get another job if I have a big employment gap? I
If you legit have nearly 2.2m in potential money, why would you ever work again. Basic investments outside a main coastal city in the US would basically let you live a fairly comfortable life style.Why would you bother with any work or what it brings in? You could pick up any basic bitch PC job that is fun but doesn’t pay much and do fuck all.
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> Why would you bother with any work or what it brings in?
I feel like I’d get bored after a year or two of hedonism. I’m also scared of leaving the security of a job, especially now that I have a mortgage.-
>especially now that I have a mortgage.
Why would you have a mortgage when you have 2M in crypto. You’re literally losing money in interest for no reason not paying it off asap.
>I feel like I’d get bored after a year or two of hedonism. I’m also scared of leaving the security of a job
Why you literally have nothing to worry about? You don’t even need to care you can just apply apply apply, besides everyone knows that people have job gaps post covid. You aren’t just a NEET larper right? because if you’re this bad at lying you’ll never get past the interview.-
> Why would you have a mortgage when you have 2M in crypto. You’re literally losing money in interest for no reason not paying it off asap.
Because inflation is more than twice what my interest rate is. It’s free money. Borrowing means I can deploy my capital elsewhere instead of tying it up in my apartment, which is what I did by deploying it into crypto.
> You aren’t just a NEET larper right?
no, but i grew up poor and none of this money feels real.-
>Because inflation is more than twice what my interest rate is
Why would you not pay off the house and sublease. You could always flip the house before the bubble, and reinvest in something far cheaper and reasonable. You’re doing it freaking wrong.>none of this money feels real.
Probably because it isn’t.-
>Probably because it isn’t.
I can sign a message with one of my eth or btc wallets if you want.> Why would you not pay off the house and sublease
because the rate of return of renting is less than the 600% I got from deploying the rest of my capital on ethereum early this year. Low key regret putting 125k down on the apartment instead of just buying more shitcoins, but I needed a place to live.this
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>You’re literally losing money in interest
Interest rates on mortgages are currently lower than typical investment returns. You’re actually losing more money by paying off your mortgage and not being able to invest that money instead.-
Having equity trumps interest losses, ability to lease out a room in the current apartment price hikes is pure income into savings, having both is a win win with 0 downside. OP does not know what he is doing because he is living in his head.
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>with 0 downside
opportunity cost of paying off the entire property instead of investing it elsewhere for higher gains is a downside, especially with interest rates as low as they are right now.-
Yeah especially when your "house" turns into an "apartment", what’s next turning it into a condo?
Nice larp scrote
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I have never referred to my property as a house. The first time I mentioned it was an apartment in NYC, which is very common here. It is an apartment in a condo building. I might be using these terms incorrectly interchangeably but it is what it is.
Again, if you’re going to be an poopyhole about it I can sign a message with my crypto wallets to prove my wealth, if you would like.
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>I might be using these terms incorrectly
You’re not, he’s just a scrotebrain -
You have a 150k mortgage… on an apartment… in NYC… And worried about losing on property value or such? OMG this doesn’t make any sense, buy that shit now since then no one can kick you out without a full nice priced offer.
Nice freaking try dude.
>It has no bearing on whether paying off the mortgage early is a good idea or not.
Yeah I can tell this is larp because you don’t understand equity at all-
>You have a 150k mortgage
Where the fuck did you get that number from? Do you think "stocks" means "mortgage"? That’s the only thing OP mentioned he had 150k in -
jesus christ you’re scrotebrained
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>And worried about losing on property value or such
I have never said I was worried about this. I am worried about no longer having a stable source of income. My side business averages 100k/yr but as I stated in my OP it is very unstable and the 100k is averaged over 5 years. I do not see it lasting long-term.Once I quit my job and if the business dies, I’ll have no more source of income other than dividends on my investments. I’ll also have way less than $2M once I sell and pay taxes.
> you don’t understand equity at all
I don’t think you understand equity. Plenty of RE investors are leveraged into multiple properties renting them out for cash flow. Equity has no bearing on whether or not you can rent it out unless the terms of your mortgage forbid it, but that’s separate from equity. -
>I’ll also have way less than $2M once I sell and pay taxes.
you don’t know the 4% rule? You don’t understand cost of living? You don’t understand subleasing.Yeah you’re stupid, why you remain in NYC rather than just moving to a decent mid sized city where jobs for tech are in demand, and your """"side business"""" 100k would go farther is scrotebrained. inb4 hussle n’ bussle of da big apple
go back to[…]
you’re living in your head
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one of my BTC addrs with 10 BTC in it: b. c. 1. qtuskr22s3yar7uurf42rkmqkz33dkcfluk8upk (remove dots/spaces)
The rest are in other addresses (if you understand UTXO you’ll know why), or earning interest wrapped on AAVE.
Message: "Go fuck yourself "
Signature: INtm702tH4qHjDGoLg0SZUQNkdSRV89ZjuuI1xz/4GmtI/F5qzm38UCjTdLk4CtkNQ3I98YgHbll3+8oBXu/J2E=
Go verify it yourself.
>I have almost $2M in crypto and 150k in stocks, 40k cash.
How did you do it anon?I’ve been following bitcoin and crypto since before /biz/ existed and all crypto discussion was on LULZ. I stopped paying attention until 5-6 years ago when I caught the bug again and went all in and kept DCAing in as I got more money over the years.
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Are you that desperate for advice bro? Just ignore the morons.
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>150k for an apartment in NYC
ya blew it champ-
Nice freaking try dude.
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>It has no bearing on whether paying off the mortgage early is a good idea or not.
Yeah I can tell this is larp because you don’t understand equity at allI said I have 130k equity in a 500k apartment with the rest being a mortgage with a low interest rate. Mentioned here:
Forgot to mention I own a 500k apt in NYC with 130k equity. I was thinking of spending a year traveling and get some time to think about what I want to do.
Yea, he’s scrotebrained.
Yeah you’re stupid, why you remain in NYC rather than just moving to a decent mid sized city where jobs for tech are in demand, and your """"side business"""" 100k would go farther is scrotebrained. inb4 hussle n’ bussle of da big apple
go back to […] you’re living in your headI’m young and do not believe the 4% rule will hold especially given the high inflationary environment we are living in right now.
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>I’m young and do not believe the 4% rule will hold especially given the high inflationary environment we are living in right now.
Then again why not move to a lower cost of living area where even with inflation it won’t take a hit. Besides your OP goal was to get a job with stable income, you’d still be ahead of inflation regardless. -
>why not move to a lower cost of living area
My family is here. My siblings all left already and I’m the only one still here close to my parents, who don’t speak very good English as me and my siblings are first gen immigrants. I’d feel bad if I wasn’t able to take care of them by being far away. -
Even with inflation, you have 2M plus in assets. Be smart and manage them decently, and you will outperform 98% of everyone and inflation. Your 300k job is chump change at this point, and its only there to make you feel safer and feel "useful". You are afraid of freedom.
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You can lease out a room whether the property is mortgaged or not. It has no bearing on whether paying off the mortgage early is a good idea or not.
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this. is a larper himself or scrotebrained.
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If I was in your situation I would go even more prepper than I already am. Its about to go SHTF
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>has over 2m
>won’t do shit because they may lose 3-4 1000 bucks in interest game
>still wants a job
>this would negate the losses since it’s just pure income
none of this is making sense. why do neets constantly feel the need to bullshit beyond their limits? It shouldn’t matter at this point because you’re going to get a job for income and have a solid backing in crypto you should be turning into something stable at this point. -
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I have less than $1000 to my name and I’m stuck in a foreign country. Just signed up for Fiverr to try and make some pocket change as a writer, I’m also writing a book and hope that it’ll make me some money on amazon when it publishes.
Congratulations to the anons that have $$$, I hope you use a bit to make the world a better place. -
>I have almost $2M in crypto and 150k in stocks, 40k cash.
How did you do it anon?-
>$300k TC software engineering job
>side business bringing in $100k/yr
How do you think?
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1/10 LARP, made me reply
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>I have 2.2 million
>I don’t know what to do for a job! work gap!
>I run a side business
uhh why don’t you I dunno just put on your resume you are a business owner?-
Yeah this is the weirdest thing about this. Did you really not think of that OP?
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>I don’t know what to do for a job! work gap!
Like I said, I am young. I do not see myself retired for the next 60-70 years of my life, if I live to my late 90s.I want something to do and all I know is work tbh.
Yeah this is the weirdest thing about this. Did you really not think of that OP?
> uhh why don’t you I dunno just put on your resume you are a business owner?
Doesn’t that scream bullshit though? Any schmuck can write that they are a business owner on their resume of a bullshit LLC.am i overthinking this?
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>Doesn’t that scream bullshit though? Any schmuck can write that they are a business owner on their resume of a bullshit LLC.
Do you have a business or not? or is your "side business" just doing ubereats? I don’t understand how you can have a business and somehow not have an LLC or any kind of official documentation surrounding it.
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Yes I have an LLC. But I’m saying anybody can file to make an LLC and claim to be the founder/CEO of it. It sounds like bullshit. I can provide business tax returns for my LLC/S-Corp but I dont think interviewers will be asking for those and just write me off as a bullshitter.
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As long as you can point to it on the resume where if they were to find it comes up with your name, you’re good. I’m still unsure how this is some revelation in terms of things. If you’re employed through your business who the fuck cares lmao.
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>Any schmuck can write that they are a business owner on their resume of a bullshit LLC
Any schmuck can write anything on their resume. But "I tried to start a business and it failed so now I’m looking for work" is a pretty common and legitimate thing. It doesn’t arouse any suspicion.
When I was doing interviews at a bay area company, every third candidate had their failed startup on their resume. It’s normal.-
Oh nice, that’s good to know. Thanks anon.
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>I want something to do and all I know is work tbh.
Pick an interesting, seemingly unprofitable, problem and solve it.
There are tons of interesting, useful, hard to solve problems that would things better for everyone. The shaders / graphics (i.e. rendering) programming world is filled with these
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don’t sell the crypto all at once dweeb, never withdraw enough to push your income beyond the federal limit for capital gains and you’ll never pay a penny in taxes.
>In 2021, individual filers won’t pay any capital gains tax if their total taxable income is $40,400 or less. The rate jumps to 15 percent on capital gains, if their income is $40,401
so keep income below $40,400 on paper and you’re tax free. -
OP you should probably freaking LURK MORE, next time you make this thread assuming it’s not bait/larp from biz like all the other threads always are. Leave out all the /biz/ shit out of the OP, no one cares about your crypto or wants to hear about how much supposed cash you have. Ask the specific questions you have in regards to actual work in the field.
Also if you have a side business like stated why not use your contacts you have through clients just to go get a job?
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I’m think quitting my 0$ no job with zero savings. I think your good sis.
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