Lost all my money in the stock market, made it all back and some. need advice

[StartSmallDreamBig]

So in 2020 during the Covid crash I had the mindset I had to double my money (50-60k) at the time and what ended up happening is, I gambled it all (literally) away through options instead of stocks going after high risk/high return and I caught the risk part just not the return section.. Anyways, fast forward to now.. I was early in a social media crypto project (bitclout) and made a little over 100k in crypto (from a literal $0 investment) and it's sitting in my crypto broker account and I have been making 20% APY on it but I haven't taken it out yet.. I am trying to find the safest/low risk business and/or thing I can put my money into to receive a decent return over the years.. I won't have to pay taxes for a while since my losses are so big (still -20k this year on the market and reported -40k last year).. what can I do? I'm not putting my money back in the stock market as I am great at losing it all there.. need advice on a diff passive income.. I am 30 y.o./single/no kids

[Gronnie]

Stock market but not trading -- put it in a total stock market index and don't trade!

[seemsright]

We all (in general) like index here.

Trading is for suckers.

[Metalcat]

I'm curious how you ended up asking this on this forum if you aren't already aware of index funds?

Or are you looking for different advice?

[ToTheMoon]

You need to ditch the get-rich-quick schemes and get real.  What you need is a set and forget type of plan, and then you need to execute the plan and forget about all of these schemes or stock picks or crypto etc.

You were on this forum back in May of 2015 and just getting started - what have you done in the meantime?

There is a massive wealth of information on this site and amazing people willing to help you find your way, but it takes discipline, which you seem to have been lacking. Hopefully, you are ready this time to turn things about and start making strides towards your future!

Use the resources here - and best of luck!

[wenchsenior]

So in 2020 during the Covid crash I had the mindset I had to double my money (50-60k) at the time and what ended up happening is, I gambled it all (literally) away through options instead of stocks going after high risk/high return and I caught the risk part just not the return section.. Anyways, fast forward to now.. I was early in a social media crypto project (bitclout) and made a little over 100k in crypto (from a literal $0 investment) and it's sitting in my crypto broker account and I have been making 20% APY on it but I haven't taken it out yet.. I am trying to find the safest/low risk business and/or thing I can put my money into to receive a decent return over the years.. I won't have to pay taxes for a while since my losses are so big (still -20k this year on the market and reported -40k last year).. what can I do? I'm not putting my money back in the stock market as I am great at losing it all there.. need advice on a diff passive income.. I am 30 y.o./single/no kids

Hopefully you will get some good advice, but fair warning, we are nearly all stock market investors here.  Most of us never trade, but just invest in index funds. Many of us are quite wealthy from doing that.

[getmoneyeatpizza]

You are on the wrong forum dude unless you are trying to change your ways. Sell that crypto, read investment order thread here. And read the MMM posts from the beginning.

[Rob_bob]

For the long haul I too would recommend a total stock market index fund like VTI or equivalent.  Stop looking for the next "big thing", buy and hold until you plan to retire.

As a side note I dabble in options too, however I sell them and collect the premiums.  I don't trade them for the big score, nice extra income.

[JAYSLOL]

You are on the wrong forum dude unless you are trying to change your ways. Sell that crypto, read investment order thread here. And read the MMM posts from the beginning.

+1

You played two high stakes games, you lost one, and won one, now you’re up and it’s time to walk away from the casino for good, or it’ll all end up back in the hands of the house. 

[Extramedium]

You are on the wrong forum dude unless you are trying to change your ways. Sell that crypto, read investment order thread here. And read the MMM posts from the beginning.

+1

You played two high stakes games, you lost one, and won one, now you’re up and it’s time to walk away from the casino for good, or it’ll all end up back in the hands of the house.

You've got to know when to hold 'em,
Know when to fold 'em,
Know when to walk away,
And know when to run.

Try to learn from your mistakes.  Your mistake was not choosing the stock market.  The rest of us made a ton of money on the stock market during the time you lost out on trading options.  Your mistake was to try to time and outsmart the hedge funds and to bet against the market.  Don't blame the stock market on those losses. 

Read The Simple Path to Wealth, by JL Collins for more information on this.  It's a fairly predictable thing, but takes a little patience.

[soccerluvof4]

Ok, so you got lucky. High Risk investing like that is no different than playing Black Jack in Vegas. Eventually the house always wins if you sit at the table. Thats a bad habit to get in and most likely will not end in your favor.

As everyone as suggested for reason I would recommend Passive investing and use your energy or risk appetite on something that wont break you.

[DaTrill]

BBUS, SCHB, VOO, other mindless index fund.