The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings to fall back on.
With 300 shares of TSLA stock you can do what’s called the wheel strategy and earn weekly income. Example: TSLA current price is $989. If you have 300 shares you can sell 1-3 covered calls from the 995 strike to the $1,070 strike and earn $4,440 per contract in a week on the high end at the 995 strike to $1,018 in a week per contract if you choose the $1,070 strike. Also if it goes up to $1,070 from the current price and you’re forced to sell that’d be a gain in capital appreciation of $7,500. Then you can flip it and sell cash secured puts and get paid premium and buy back in at a cheaper price than what you sold for. You could earn from $1,245/week-$1,000/week just for wanting to buy 100 shares at a cheaper price than what you sold for. Again if you have the collateral for 300 shares you can multiply your income by 3. This is called the wheel strategy.
Planning to retire on Tesla! Thanks for this video confirmation, Ken! I’m so blessed to have found your channel early enough! I’m impressed how much you love us, even on your vacation you manage to share your thoughts and knowledge to us! Have a great vacation! ❤️
Another wonderful video and so great to have a figure for how many shares. Life changing, thanks so much for all you do Ken. Enjoy relaxing, love from the UK x
Being just retired I am glad I have more than enough Tesla shares and if you are correct, I can help my children get into their own home which these days is almost impossible. Thank you for your insightful analysis! 💎🙌😎TESLA
True. Our kids are gonna need our help. These days becoming a home owner isn’t easy. My grandparents were able to buy what is essentially an entire neighborhood block. The homes were 10k each. Those homes are nowhere near 10k today. It’s only gonna get harder for future generations.
It's near impossible to own a home in Canada for the younger generation like myself. Times have changed sadly. Other sources of income is the only way.
Thanks Ken, you have spurred me to retire young as well. I'm retiring at the end of 2021 at 32. Looking forward to catching up when you're back in SG. Cheers!
As someone who's new to investing and don't have the same conviction as you do in Tesla. Hearing that owning 50 Tesla shares would be good enough for retirement really ticks!
@@ChickenGeniusSingapore but is it really accurate to say that stock growth is truly compounded? No one has given me a satisfactory answer to this question. Without selling, you cannot create gains from your gains…
Thanks for the breakdown Ken! 💯👍 Can’t express enough of gratitude for pointing a noob like me in the right direction for the past 2 years or so! Very valuable perspective of lifestyle and number of shares required 😊👍
The video I was waiting for!! Thanks for doing up the sums for us. The target is clear and I am super motivated to be on FIRE! Thanks Ken for taking the time during your break to do all these for your chicken gang!! ❤️
Usually I lurk around here without commenting anything but had to comment today to say thank you to CGS :) this sort of video is v interesting because it shows direct impact on our daily lives, expenses etc. Very much appreciated, looking forward to more of such content and enjoy your break!
I find this video inspiring and thought provoking. In my day to to day living I’m to immerse in having fun and family life. Thanks for sharing your insights and vision for dynamic growth that can be in reach with proper investment strategies. I have been retired for 9 years and living the life of financial independence in Hawaii where the cost of living is stupidly outrageous! Sorry to hear you quitting RU-vid…thanks for your hard work and genuine honesty in your videos. Aloha Ken.
Great video, Ken! Much appreciated. One big catch is medical costs in retirement, but hopefully the buffer built into the modelling is enough to allow for them (despite varied costs in different countries). I’ve heard of people who FIRE but exited retirement due to unexpectedly high medical costs.
Frank's Valuation model is super detailed. Also, happy to see that you're enjoying the travels. Hope to pick your brains over coffee when you're back in Singapore someday.
Your video is so amazingly informative Ken and really gives all of us around the world a realistic target to aim for based on real world environments and calculations I can’t tell you how helpful this is. Thank you as always for all of your incredibly well produced videos and amazing content. Safe and happy travels 🙏🏽
Thank you for putting this video together, CG! Really appreciate all that you do for both the Tesla and investing community as whole. I'm sure I speak for many of us here when I say that your insights helps us sleep a little better at night, especially those that think about how to retire early. Thanks again!
Hey Chicken. Thank you very much for this! I always put off calculating this stuff, because I'm almost afraid of the answer. Thanks for this analysis! I will sleep well tonight!
Your video’s are one of my favorites on investing and I watch all of the others. Keep us posted on how retirement goes. I have about 4,000 shares along with many other assets, but have feared retirement. This puts things in a different perspective.
My cost basis is 250 but I’ve been adding shares still, watching a cost basis is hard at first, but if your horse is winning the race (and now has a rocket 🚀 thruster) you don’t bet on a different horse. I’ve been Buying them now for my Roth IRA which I finally converted. Crazy that retirement could be so close. Thanks for this vid, I was working out and listening and opened the calculator app and nerded out. So much fun. Rock on brother! 🤘
Ken, I appreciate you explaining to the Chicken Gang Community what is possible. Your content shows me the Rainbow, now all I have to do is own Tesla shares to find the pot of gold. I've got to come up with a plan to buy more. Thumbs up as always 👍
Thanks again Ken, as someone who is 99% invested in Tesla courtesy of your conviction and confidence I appreciate this video. It’s really good to see you looking so chilled and relaxed.
This gives me so much hope. I currently own 98 shares and I cannot wait for a split. I got in late but this really gives me so much hope. Thank you Chicken Genius!
Good to know I'm almost garantier to retire in 2030 :D did my calculation already, but mann it's so sweet of u to really try to help ppl out there to see the light, appreciate it Ken ;) if ur wondering why your voice is different between the recorded video of u outside and the recorded audio when Ur explaining your presentation look up on 44'100 hz vs 48'000 Hz sample rate. Happens when the project file is set to a specific rate and the recording is in a different rate :) hope that helps 🙏
@@ChickenGeniusSingapore you're welcome! No no u did good with the recording and reducing of wind noise! Just a heads up to remember to record and use the same sample rate when u export the video 😅 notice it happens in your old old old videos and thought it might help if u where wondering why your voice change 😅 happens to me as well once 😂 cheers Ken 👌
Hey Chicken, your on vacation but still giving us incredible content. I am happy to see a person like me that isn't a math person has the same numbers you showed here. This is another keeper for referral purposes. I want to live a comfortable life (which I have today) in my future. I want to travel and know how to do it on a budget while looking like a rock star so... Tesla is going to be the way to make sure this happens. Keep healthy and keep it coming. I will be "officially" retired by 2030 and still have lots of energy and life to go since I will be retired 10 years earlier than most. Love these numbers it will help.
My daughter is going off to college, told her we’re not selling Tesla - I’ll get a second job and you get a job. We’ll make it for sure I know it. Ken I’m loving your productivity while retired lol giving us all the good 👍🏻, smile lots!
Sophie, same thought here, I’ll work two jobs, daughter in college should get a loan (if needed), but holding TSLA as long as possible. Have 360 shares, started with 10 in 2016.
Thank you! It really gave me a great relief to know I am set and can enjoy myself by relaxing and living in the moment rather than living in some fear of uncertainty. This I hope will be a pivot in my life. I have enough for myself and my kids it seems!
This is a very beautiful illustration Ken. I really loved this and I completely understand what you are trying to convey in your message. There's just one very little thing you may have missed to take into account for your calculations! The cost of living chart that you have (assuming every value is correct) is still way off as you didn't account for inflation rate throughout the whole period of time. The cost of living that are stated here are from 2021 ( I suppose), will be very different in 2030 and will constantly increase throughout the 30 years until 2060 (if that's what we are targeting to live until).
@@lh4620I think you missed one point. You will have a very low income tax as you have retired. Also I guess we are assuming that you've invested in a tax free savings account and pulling out capital gains from there and not a margin account.
I just love this vibe of retiring early in our 30s and living on our own terms- a free, quiet, peaceful life without the craziness and nonstop grind of the corporate world. Your new travel themed videos show me this possibility for me. Looks so peaceful and free! Question: Don’t we get taxed (as income tax) from selling the stocks for our daily living expenses? Also, what if the global money system collapses before then (some people say), and we’re all using crypto?
I think the Chicken forgot the Capital Gains tax which most of us could end up paying. Also, to pay for the Covid issue CGT is an easy target for Government to increase!!! As the Chicken suggests, you may need to consider moving to a more tax friendly environment, especially if you hold crypto. Get planning, you have 8 years!
you need much more to retire that early. Because you will not only get 60 years old, cost of life increases alot over time, especially once you provide for a family :D Depending on you lifestyle I wouldnt retire that early without at least 2M in net value, for me personally it still wouldnt be enough at the age of 30 (I am already closer to 40 though) Also Chicken has a net worth between 3 and 5 million I think (not sure but he showed his assets before). So if you are dreaming having his life, you can not do that with 50 shares, just saying
Wow! This is soooo helpful! Thank you! Although the capital gains tax has not been factored into the income. Good to see you looking healthy and relaxed. You so deserve it! Keep safe and continue to enjoy life.
I built up 350 shares from December 2019 to present day. I need £764,000 to be financially indpendant as I assumed Tesla would hit $3000 a share. 2021 for me is building a crypto portfolio as a counter balance and passive income through staking. Ken -I love that view!
Awesome video from Ken as usual. It's very helpful...I started building my tesla stock portfolio after watching your videos last year. Amazing... always looking forward for your videos on mon, wed* & fri.... oh dear, I really miss travelling... the greek islands... was in Crete years ago...
Thanks again. Yes, I already have more than the minimum TSLA to retire in USA. Personally I think I’ll need significantly more to retire to the comfort level I desire. Perhaps it’s because I have a family and the desire to keep my nest egg growing throughout “retirement”?
Love this video! My wife is still a skeptic but hopefully she'll turn around in 2030 🙃. Super excited for this month as I'm able to invest more in TSLA than ever before.
Several hundreds of shares and holding on to them for a long time. Some of them will go to my children. You and StMP keeps me positive on what's to come whenever I am in doubt. I am sure this means that my family and I can live a life without economic difficulties by 2030. Thank you so much for straight-to-the-point content, honesty and insights. Love from Denmark.
Thank you for this video. Hello from Paris. I'm not in your list (Europe is missing) but your message gives me more strength to be invest in Tesla the more I can in order to have the best retirement in the future wherever I will be.
massive love Ken ❤️ this is my FIRE plan too, except I'll likely be taking out the annual expenses as margin for the first 5-10 years of retirement as the stock likely will be appreciating at too faster rate to sell shares, this also allows me to claim this as debt/not income and thus no income during this period. After that I'll sell shares slowly to pay down margin and pay living expenses. Not financial advice, but my plan. I hope this video reaches 10M people, it's the most important video you have put out to date. All the best, enjoy Santorini, beautiful place. Grilled octopus at the harbour is amazing!
Hey chicken, I loved your videos on options. I would love to see more videos about options. I have been dabbling in selling puts and calls. I think I see the logic of your strategy. Selling a monthly put on a stock you like is very similar to dollar cost averaging. It's like your trying to buy the stock every month at the current price. Am I understanding the strategy correctly?
Unsubscribing, you can't say a year ago that you can retire on tesla by 2030 and a year later short the stock. I understand the world changes but in my view you have lost credibility. In a year you will say again that you can retire on Tesla and in 2 years you will short it again, that's called daily trading and I'm not gabling my money
well said. he f*cked many of his true supporters over by not being direct and saying SELL. We were with him from the beginning and now we're bagholding while he calls us clowns and bagholders. So classy!
Lovely views, CG, and we're grateful to you for sharing your investment experiences and insight to help us make the most of ours. And btw, are you in Mykonos? It looks very much like some parts of Santorini I visited. Those private villa breakfasts and lunches are the stuff of dreams, aren't they? Anyway, enjoy, and again, _Efharisto (thank you)_ 🥂
Ken, you’re a life-changer. Your vids gave me the confidence to invest, and to do that in TSLA. And by the way this vid was super helpful. Do you have a spreadsheet where I can play around with the numbers?
I really like these types of videos. It really gives a tangible figure to strive for. Thank you for this! You’re a real inspiration to my investment journey and I look forward to more content from you. Enjoy Europe!
Thanks CGS, was really thinking hard about surviving in Singapore with me potentially losing my job before this video. Among all of the videos up to date, this one hits me the hardest. Now back to accumulating more shares of T$LA
Hi Ken, followed you for 8 months now. My first time ever commenting on any YT channel. I feel so compelled to ask you for your thoughts on what would happen to Tesla if Elon were to suddenly pass away(choi) due to heart attack or exhaustion due to his crazy work ethics. Do they have a BCP or a confident 2nd in command eg Tim Cook for Apple to carry on the innovations and disruption needed for high, and then, sustained growth? Regardless, thank you and god bless for all you are doing for financial noobs like myself and animals out there! Peace Ps. 45 shares in and counting!
As always great video. Thank you. Also, what do you think about Elon's shareholders meeting presentation? He always amazes me how well he knows all aspects of his companies and everything related to the world. This gives me even more confidence investing in Tesla/Elon.
Hey Ken, thanks for showing us how easy it is to retire early and financially free with this video.....really brighten up my day to know it is so within our reach!.....just have to wait for 2030 😆 and your video really strengthens my resolve to add even more tomorrow!
Love the calculations, really gave me a clear perspective on how to retire on Tesla. Ever since watching your channel, I have gained so much more financial knowledge. I now know how to get to achieve financial freedom and more importantly, I am actually happy now. Before I was working hard, scrambling to save more money but was nvr happy cause I did not know how to get to the end goal which to me was financial freedom where I could do things I actually like and work on passion projects. Thanks for much Ken and appreciate your time and effort on this platform, sharing with us your journey, it is very inspiring.
Greetings from Germany. You can roughly double the monthly costs for Germany to be realistic. E.g. health insurance is a big factor, as well as rent for appartment or house. You make great videos, please keep going on. I love it.
Hi Ken, the same goes for Germany's neighbour country: The Netherlands ;-) I'm one of your Dutch subscribers and the housing market is in crazy run currently: last quarter saw a +21% YoY increase in median housing prices. I'd say €1,000 - 1,400 for housing depending on area (rental/mortgage+interest), €200-500 groceries (depending on your household), €150 for utilities (gas/electricity/water), €50 for Internet & TV subscription, €120 healthcare insurance and €20-50 other (mandatory) insurances. So to sum it up you'd roughly need €1,550 to €2,370 to cover your monthly bills excluding any luxury, dinners out, public transport and/or car(s), etc. Converting this to USD with the current conversion rate, this would sum up to $1,800 to $2,750. That's quite a gap of almost $1,000, but it all depends on your househould and living area ;-)
Not only a great presentation to making it simple, you were also mindful of your viewers from different parts of the world. It's heartwarming to know that. 🌍❤️ 👊🐔
Great Job Ken! After watching your video, we purchased Tesla shares based on your US/CAN/UK numbers. Just leave it there and check again in 2030, like baby fishes turning into a big tunas!
Great video Sensei. Thanks to your wisdom I'm 3.5 years away from retirement. Very grateful for you and your willingness to unselfishly share your knowledge 🙏 Cheers 🍻
