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Nice work. It’s a great feeling isn’t it?
A 6% run in a couple weeks is fantastic, but it tells you you have some hi-volatility positions in your portfolio. Maybe take SOME profits there. I was up a decent through the first 6 weeks of this year and half that back by the end of Feb. I’ve almost back to that same high now, but I regularly trim positions and have been raising cash for the next pullback.
You can see lots of other posts around here where people were up big until mid-Feb and lost most those gains. Don’t sell all those hi-vola positions. Just SOME - like 25bp of your total portfolio value from each position that’s up more than 10% this month. You can use a different rule if you like, but a small adjustment like that has a decent impact on performance in the next pullback and sets you up sell to buy in the next correction.
Rising Star
It is! I have some positions that are short term and I’m definitely sticking to my plan to exit out of those.
Congrats!!
What app is this?
Congratulations!
How tf do you have no liabilities? Not even a CC?
Rising Star
I rent, paid for my car in cash, received scholarship for college and my parents paid for my living during college. My liabilities are related to my credit cards, but I pay that in it’s entirety each month with the bill.
Congrats OP!!
Rising Star
Thank you.
Nice! What’s the breakdown?
Rising Star
It’s my EY pension plan A cash balance. So at EY we have a pension plan A and plan B. It specifically tells you what plan A is worth if I were to leave now. I update that monthly, since I don’t know how to link it. We have a plan B too, but it only tells me how much I would receive when I retire. I’m too lazy to figure out the cash value now.
How old are you tho
goals!! I’m 25 NW ~$85k. how can I 3-4x my money in a couple years?
How did you save so much?
Rising Star
Way to go!! I unfortunately burn myself out frequently. It’s a give and take. I’m hoping to leave PA to have more time and higher pay.
What do you do outside your EY work?
Rising Star
Not clothes. Mostly electronics, furniture and Legos
Conversation Starter
Would you mind sharing your salary progression?
Financial goal
Conversation Starter
Wow, it’s really amazing you saved this much on this base
Rising Star
Unfortunately no.