16 Year Old Cybertruck Owner - 3 biggest issues

[DrPhyzx]

To each their own. Congrats on the Cybertruck.

Investing 100k when you are 16 years old, you could be a millionaire by the time you are 35 (give or take)

Maybe it's not the right place for this, but the above is true. Even relatively conservatively invested 100K today could be $1M (in today's dollars) in 20 years and tens of millions by retirement. The CT, on the other hand will be worth basically nothing long before then.

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[CyberTrk]

Maybe it's not the right place for this, but the above is true. Even relatively conservatively invested 100K today could be $1M (in today's dollars) in 20 years and tens of millions by retirement. The CT, on the other hand will be worth basically nothing long before then.

We often hear that "youth is wasted on the young",
but it does not seem to be the case with @truck .

 

[Arctic_White]

Maybe it's not the right place for this, but the above is true. Even relatively conservatively invested 100K today could be $1M (in today's dollars) in 20 years and tens of millions by retirement. The CT, on the other hand will be worth basically nothing long before then.

The absolutely worst thing that can happen to any individual, let alone a teenager, is for them to hit a "home run" like OP did with NVDA. You will always think that a) you're smart, and b) want that hit again. This is akin to taking a drug and can lead to horrible outcomes.

Also, playing it safe with the money you got for "free" by trading/gambling is very difficult. Good luck to OP.

If I were in his situation, I'd have saved the $120K, invested in low-cost index funds, and retired fully by age 35.

 

[Jack27]

Seems like some real engagement fishing here. “Text when I drive”

 

[M0unt41nm4n]

Maybe it's not the right place for this, but the above is true. Even relatively conservatively invested 100K today could be $1M (in today's dollars) in 20 years and tens of millions by retirement. The CT, on the other hand will be worth basically nothing long before then.

Well… let’s be realistic. Taking the S&P500 with a conservative long run average of 8% per year… not quite $1M in 20 years:

100k * (1.08^20) = $466,095.71

For his retirement, assuming he will retire at 67 for full retirement age, the amount would be:

100k * (1.08^(67-16)) = $5,065,374.15

Those are probably more accurate numbers. But not bad. Of course these don’t account for inflation, so the buying power would be significantly less. I.e the $5M is worth $1.84M in today’s dollars assuming 2% inflation rate or $1.12M assuming a 3% annual inflation rate. Certainly nothing to sneeze at, but not 10s of millions.

 

[affinity]

I see more than 3 issues with people's reactions here.

Can't believe so many jealousy.

LOL

 

[HaulingAss]

I see more than 3 issues with people's reactions here.

Can't believe so many jealousy.

LOL

What does "so many jealousy" mean? English is only my first language.

 

[truck]

I didn't get it to flex smh, I would've gotten something cooler like a fat cuban chain

 

[truck]

I'd be curious to know what the insurance cost is.

Insurance is under my mother, when putting it under me total came out to like 33k for full coverage lmfao

 

[truck]

That is awesome. You said you did good with Nvidia? Nice. No 16 year olds I know even try. You did good. It's your cash and you now have a truck you can drive for a long long time. I would think your folks would be very proud. The 16 year old grandkids I have ask for 5 bucks so they can buy sodas all the damn time. I am going to show them this post sir. Nice.

Used to have a huge addiction to sweet drinks lol, eventually got over it after we banned sweet drinks from the house

The absolutely worst thing that can happen to any individual, let alone a teenager, is for them to hit a "home run" like OP did with NVDA. You will always think that a) you're smart, and b) want that hit again. This is akin to taking a drug and can lead to horrible outcomes.

Also, playing it safe with the money you got for "free" by trading/gambling is very difficult. Good luck to OP.

If I were in his situation, I'd have saved the $120K, invested in low-cost index funds, and retired fully by age 35.

I had a few other lucky picks too! Don't worry about me, already put a bit of it into safer picks like F, dogecoin, and a few penny stocks.

 

[truck]

Bro really said miss being able to text and drive lol. I get it man you’re young but trust me that text isn’t worth your life or someone else’s. All it takes is a split second for something terrible to happen. Congrats on the Beast and be safe homie.

Just realized how bad that sounded, it was a joke! My morning commute is in a straight line and it's really boring, having FSD would be nice so that I won't need to hold that wheel myself.

 

[darkfyre]

Pro tip. I've been testing FSD for years. Don't text and drive. Until you have a level 3+ system.

Too risky! Don't.

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