this post was submitted on 26 Aug 2024
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Asklemmy

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[โ€“] [email protected] 34 points 2 months ago* (last edited 2 months ago) (1 children)

Nearly 30 years ago, I worked for a tiny li'l anti-virus software company that got acquired by one of the big boys, and everyone's performance-based options they were holding were suddenly worth a lot. Being hungry for career growth at the time, I'd left the company and forfeited those options. Less than 6 months later, they announced the sale of the company.

My options woulda been worth a few million at the time, maybe double that in today's money. Importantly, it would've set me up with a nice house, car, etc, without any debt, in my early 20s.

Not rich, but certainly comfortable.

[โ€“] [email protected] 13 points 2 months ago (7 children)

I'm sorry but how is a couple million "not rich"

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[โ€“] [email protected] 8 points 2 months ago (2 children)

I wanted to buy $100 of bitcoin in HS and couldn't figure out how. Would have been like $60,000,000 :ccc

[โ€“] [email protected] 5 points 2 months ago

Yeah I am so pissed about this too.

I had the money I was trying to convince my mum for months that I give her 100 dollars and she buys me a one time use card from the post office. She was convinced they could keep scamming more money from it somehow.

Today it's still a sore topic when I visit her.

Millions and millions lost because my mum doesn't know how a one time use card works

[โ€“] [email protected] 3 points 2 months ago

I have a similar story, except the people I asked about it convinced me it might be a scam. I bought some later, but it wasn't the lifechanging amount it could've been.

[โ€“] [email protected] 6 points 2 months ago

My finger was hovering over the "buy" button for $10000 worth of Bitcoin when one Bitcoin cost $50.

[โ€“] [email protected] 9 points 2 months ago* (last edited 2 months ago)

I bought some GameStop when it was $10 but chickened out and sold it a few days before it went to like $420 a share cuz I thought I was being baited by wallstreetbetters. I only later found out a close friend of mine who is a generally responsible investor was heavily in that and sold at like $200~ to pay off all his medical debt. He's not rich either, but financially better off than before that happened.

I don't mess with stocks now.

[โ€“] [email protected] 22 points 2 months ago (2 children)

I was ready to drop $2,000 on AMD stock when it was $3 a share. Someone talked me out of it.

While it wouldn't have made me "rich", I'd be much better off than I am now.

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[โ€“] [email protected] 25 points 2 months ago (1 children)

Back in 1988 I had a school project with a few people, one of whom came from a wealthy family. The project was regarding the stock market, and each team was given a certain amount of imaginary money to invest, to see who would win out at the end of the semester. My friend with the wealthy family came back with a recommendation from his father, of course, and we won the contest easily.

The recommendation? Put all our funds into Berkshire Hathaway.

I had the golden goose egg right in front of me and never invested a dime.

[โ€“] [email protected] 10 points 2 months ago* (last edited 2 months ago)

I had a similar school project around the same era. My wealthy grandfather suggested I invest in Phillip Morris. You should have seen the look on my teachers face when I bought the fake stock!. I actually ended up getting extremely into it and sold all of those "evil" fake stocks for an early tech company. I was quite certain it would do well, and I was right and I ended up winning the project by a wide margin. I tried to get my parent to let me use most of my savings account to buy real stock but they dismissed the idea because I was just a kid. It would have paid for my college education entirely if they had let me (they certainly didn't help).

[โ€“] [email protected] 6 points 2 months ago* (last edited 2 months ago) (1 children)

Didn't get "rich" per se, but I got in on dogecoin when it was at a penny, missed the peak, and ended up selling in the 30 cent range. I also picked up a ton of oil stocks in March 2020 when it bottomed out that I later sold for more than 15x their original value.

The irony is that I invested in dogecoin because Robbing Hood locked down investments into Gamestop. I didn't realize that would be such a lucky development at the time.

Those investments paid off my student loans and got me a down payment on a condo. I still have five-figures in my investment account that I'm growing into early retirement. My current focus is gambling stocks, in large part because every election year it seems like there's a smattering of states legalizing online sports betting. (MO and NE have it on the ballot for this year.)

Not fuck you money or 'rich', but life-changing.

[โ€“] [email protected] 3 points 2 months ago (1 children)

Bro you got the "what could have been" ending

[โ€“] [email protected] 3 points 2 months ago

I didn't quite get that but I am in a way better place than I expected to be thanks to those choices.

[โ€“] [email protected] 4 points 2 months ago

Idk how well this would actually sell but years ago in my early 20s, I came up with the idea for a beer coozie for 40oz bottles.

40s are great if you are poor and want just enough of a buzz but unless you chug them, they get warm halfway through. Which is also why 12oz cans/bottles are probably also more appealing.

Just a big ass coozie to keep your Bud Ice cold in a Sunday afternoon of porch drinking.

[โ€“] [email protected] 6 points 2 months ago (2 children)

One parent had a growing business when I was super young, they brought home well into the 6 figures. However two things happened 1: the internet started getting bigger so that started to hurt their business and 2: the 2008 housing crash happened and for a business that worked with banks on mortgages (I was too young to fully understand what the business did) it was fatal. Then we were dirt poor! The family never really recovered but after many years we did manage to get on our feet, then a parent died and shit went down hill again lmao.

I could've grown up a rich kid, instead I grew up with a family oats pot for meals. Though I'm probably a healthier grounded human for it.

[โ€“] [email protected] 0 points 2 months ago (1 children)

There has to be more to the story than that. Your parents probably didnโ€™t disclose to you the other hardships they faced, whether they were self induced or not

[โ€“] [email protected] 5 points 2 months ago

Oh there definitely was as far as why the business went down, I just clipped it. But it caused one side of my family to be permanently removed from our lives as well. Though the increased stressors of the crash also aided in that whole deal

[โ€“] [email protected] 9 points 2 months ago (1 children)

2: the 2008 housing crash happened

My dad's 50 year-old roofing business never fully recovered either, which is partly why I hate our government and how it works for the wealthy.

He now drives for DoorDash, at age 80, using my car. The alternative is starvation.

[โ€“] [email protected] 9 points 2 months ago (1 children)

Well, isn't it exciting? We may just witness a second crash! /S

But for real, it's getting really bad again, it doesn't seem sustainable and I honestly expected something to crack by now, but it hasn't. The longer it gets delayed the worse it's gonna be

[โ€“] [email protected] 3 points 2 months ago (1 children)

There will be, no doubt.

The thing with crypto is to just add small amounts over time, so when those spikes happen you can take advantage. It's pointless to try and time it.

[โ€“] [email protected] 4 points 2 months ago (1 children)

I was talking about the housing climate, but crypto is fairly volitle too so I wouldn't be surprised

[โ€“] [email protected] 2 points 2 months ago

Ah, yeah. Thanks for clarifying.

[โ€“] [email protected] 29 points 2 months ago (4 children)

Had the ability to buy in on Google right after they went public - passed on it

Had the ability to buy in on Apple in the mid 1990s -passed

Had the ability to buy bitcoin at $5 a coin, could have put in $5k at the time -passed

Had the ability to buy in on Amazon shortly after they went public -passed

Ebay -passed

Starting to see a trend?

[โ€“] [email protected] 13 points 2 months ago (1 children)

Congrats! You passed all your tests with flying colors.

[โ€“] [email protected] 3 points 2 months ago

I shall wear this badge with honor

inscription on badge "I'm a Moron"

[โ€“] [email protected] 17 points 2 months ago (1 children)

Let me know next time you decide to pass on a stock.

[โ€“] [email protected] 4 points 2 months ago
[โ€“] [email protected] 7 points 2 months ago (2 children)

Quickly what was the last investment opportunity you were presented with?

[โ€“] [email protected] 6 points 2 months ago (3 children)

Nvidia about a year and a half ago

[โ€“] [email protected] 5 points 2 months ago

Damn lmk when the next one comes up

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[โ€“] [email protected] 2 points 2 months ago
[โ€“] [email protected] 26 points 2 months ago

you had the opportunity to buy the winning lottery numbers last week and you BLEW IT

[โ€“] [email protected] 33 points 2 months ago

I sold about $200 in Bitcoin I mined back in the early days, like 2009 and 10. Missed out on over $80 million.

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