Tangentially related....for those that have a left a solid somewhat lucrative role ($180k-200k total comp w/ great benefits) to trade full time. How much did you start trading with? What made you ultimately take the leap?
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I have a buddy that did that, more tilted towards crypto, but he got in when nobody was talking about crypto so his $50K account went to around $900K in a relatively short amount of time… he still does it, though it’s not nearly as lucrative with the cool summer for crypto…
Realistically, you would need to be able to generate enough income through your investments to keep up with your lifestyle… so quick math, at your job you’re probably netting around $120K-$130K… so reverse math at a 4% draw off your accounts, you’d need around $3.00M-$3.25M in total investable assets… saying that all your income is long-term Cap Gain, which it likely won’t be…
I've been able to generate about 4k each of the last 2 months off 21k (balance @ 29k total now). So there would be a substantial increase in the capital by allocating 50-100k.
Could probably hang on to the full time role for 6m-1yr before cutting the cord which would drop some debt load and/or increase starting capital.
My cost of living post-move would drop from about 7k to about 3-4k (inherited home, minimal expenses).
Do you really think you can sustain making 38% gains every 2 months? Any investor would could make 38% per year would be a billionaire. The top hedge funds which people pour billions into struggle to break 20% consistently.
You also need to remember that even if bad times where your portfolio is down, you will still have to draw money for expenses. In order to fund 4k/month you probably want minimum 1mm of capital.