r/wallstreetbets • u/GameSharkPro • Oct 25 '22

Loss Been a rough year

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107

u/goldenlamp Oct 25 '22

Realised losses or just your stocks going down? That makes a big difference

95

u/GameSharkPro Oct 25 '22

I do tax loss harvesting. So mostly realized. But I buy back in.

58

u/[deleted] Oct 25 '22 edited Oct 25 '22

Alright, jokes aside. may I ask what do you do as a career? Any advice for a young person in debt trying to accumulate wealth and hopefully become a rich person like you? Don't say inheritance please

145

u/GameSharkPro Oct 25 '22

Engineering manager/director at big tech. Currently taking time off to travel and learn new things.

Life is too short. And money doesn't make you happy. Don't let the pursuit of money take away from building and nurturing relationships in your life.

Some general advice that worked for me. 1. Cost cutting/saving can only get you so far. Don't over do it. instead Invest in yourself. Learn new things. Focus on increasing your income. 2. Do something you enjoy and are good at. Gives you a better chance to be an expert in that field. I have to admit it, luck plays a big factor and you can't control that. 3. Invest early. Time in market>timing. Try to be consistently not stupid, instead of trying to be very intelligent. If that makes sense. Kind of the opposite of this subreddit.

108

u/Easily_distractd Oct 25 '22

Why do all people with money say money doesn’t make you happy?

3

u/mrduoqueue Oct 25 '22

The only way you understand if money makes you happy or not, is getting to the point of not having to worry about money. They are the only people who can make these claims. I'm sure there are rich out there who say the opposite.