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/biz/ - Business & Finance

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20471837 No.20471837 [Reply] [Original]

Asked in personal finance subreddit and they seem to hate crypto. Also got downvoted .
How am I doing for a 31 year old single male? Working full time at the moment.

$135k in cash

$90k in 401 k mostly roth

$90k in crypto


No car or mortgage payments.no other debt. Don't own house. Just renting for now. Is it possible to Reach 7 figure net worth in 5 years ? I don't plan to date anytime soon. Focus is only on self improvement.

>> No.20471948

>>20471837
expand on "in crypto", what are you holding, because that's your only potential money maker to retire anytime soon

>> No.20471982

>>20471948
Most is pretty much BTC and ETH and some random alts. I'm sure smaller alts have greater potential , but I want to keep adding to crypto every month

>> No.20472007

>>20471837
back to plebbit, off you go

>> No.20472064

>>20471982
nice

>>20472007
but ultimately this
get the fuck out
only gambling degenerate shitcoin flippers allowed on biz

>> No.20472156

>>20471837
300k in equities can easily 3x in 5 years if it were me. Youd have that starting amount if you turned your cash and crypto into stocks, which is what id do. Id keep one bitcoin just for fun though.

>> No.20472422

>>20472156
>I can beat the market for 5 years in a row ez

you too, can go back to plebbit

>> No.20472951
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20472951

>>20472156
you're going to learn an expensive lesson if you think that 3xing in 5 years is "easy"

>> No.20472973
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20472973

>>20471837
if you don't tell us your income or expenses it's hard to predict how rich you'll be in 5 years

>> No.20473002

>>20471837
Why do you have that much cash without regular investments?

Also go back to R*ddit.

>> No.20473141

>>20471837
what are your crypto holdings, what are your future contribution plans for each of those investment vehicles?

at 31 you could have likely contributed more to your 401k, but 90k in crypto after 2017 bull run ain't too bad.

you'll probably make it to 7 figs sometime in your late 30s/early 40s, so long as you're in legit crypto and you keep contributing to your 401k.

>> No.20473205

>>20471982
>mostly btc and eth
why? what is your logic behind that? "they're the biggest so they must be the best" is shitty logic, don't be a rube.

crypto is 99.9% speculation at this point, so if you don't understand it and don't want to invest there time to learn, you probably shouldn't be so deep in it.

>> No.20473237

>>20471837
>guy says he asked reddit first
>isnt flamed in every response
fuck this place is gay now