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I am worth £300k+ in early twenties. AMA.

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Thoughts on ETC?
Do you plan to buy anything ridiculous?

OR

What major purchases are you thinking of making after you cash out?
Reply 3
Avatar for mahmzo
mahmzo
17
What are your plans with the money made?
Reply 4
Avatar for Notnek
Notnek
21
Does it make you happy?
Do you like biscoff?
How much is in the current account rn (and how much are you willing to lend me) :biggrin:
Also where do you live, and what time do you go to bed? OH and before I forget, if I said... idk any word... like "card" what are the first 4 numbers that come to mind?
Had I known you're £300k+ worth I would've chatted with you more :biggrin:

Jokes aside, I really liked how you said you would still want to be a doctor (that's when you know you aren't going in it for the wrong reasons!). Do you plan on investing this money somewhere, gaining more out of it?
Do you have rich parents?
Original post by Admit-One
Do you have rich parents?

I know you didn't ask me this but their first post says otherwise.
(edited 3 years ago)
Are you going to reinvest into bitcoin for the next boom? (apparently upcoming)
Reply 11
Avatar for ANM775
ANM775
20
If you don't cash out then technically you arn't worth 300k as the price could crash before you cash out.
Original post by ANM775
If you don't cash out then technically you arn't worth 300k as the price could crash before you cash out.

Same could be argued with fiat currency, they are currently worth 300k.
popcorn preference? :holmes:
Do you own your home or do you rent? No offense but in my city £300k would barely get you a 150 square feet flat, converted from public housing, and 10 miles from the office district. I'd be pretty worried if I only had £300k after inheritance in my twenties.
if only you fell for my Nigerian Prince scams :frown: :ashamed2:
Original post by *****deadness
Do you own your home or do you rent? No offense but in my city £300k would barely get you a 150 square feet flat, converted from public housing, and 10 miles from the office district. I'd be pretty worried if I only had £300k after inheritance in my twenties.

Where do you live?
What date & price did you buy in at?
Have you sold any of your coin?
Have you diversified any of this, if not why not & do you intend to?
Thoughts on XRP?
I’m guessing you won’t be cashing out for a while if you want a Tesla car and buy a house
In full. Considering the huge uk taxes
Quite a shopping list for £300,000 pre tax. Assuming you cash out in one go (which you would have to if you want to buy a house using cash), the tax on £300,000 would be about £120,000. The average cost of a house for a first time buyer is over £200,000, which is already more than you'd have left after tax. Even if you tweak those figures to reflect tax savings you may be entitled to or a lower cost of a house, you're nowhere near where you need to be to buy a Tesla Roadster and then invest "the majority". That combined with your statement in your original post that you'd considered retiring "soon" makes me think that you don't have much of an understanding of how little £300,000 is when compared to the expenses over the course of lifetime (the majority of which you still have in front of you).

Don't get me wrong, having that amount of money (even on paper) at your age is a huge advantage, and if used wisely it will certainly go a long way to making sure that you don't have the same money concerns that a lot of others have at your age. But you do need to be realistic about how far that money goes. It isn't anywhere near as far as you seem to think.

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