What will you splurge your TSLA gains on?

[Mengy]

I honestly don't plan on buying anything big with my Tesla millions.

I already own my house which sits on a small mountain top, I have no debt, and my expenses are minimal. I'll be "retiring" later this year but I'll be plenty busy working on things I want to do, just on my schedule and at my pace. I also plan to do some work on our house, like installing solar panels and geothermal heating / cooling, building a new deck, maybe we'll even get a hot tub! With my newfound free time I'll be able to do all this work myself (saves me money!). I will also buy myself a Model Y eventually but I love my current 2015 Subaru Crosstrek so I'm not really in any rush.

My money is buying me something much more valuable than anything material: Freedom and time. I'll probably die worth tens of millions because I just don't desire to own many expensive things, but to me peace of mind and true freedom are priceless.

 

[bkp_duke]

We have that very same toaster oven. It's the best we've ever owned. So you say these are available again for $130? I think I paid like $75 a few years ago. Ok, I guess I can sell a factional TSLA and get another one of this oven.

View attachment 656141

NO! Don't sell a share!

Sell a WAY out-of-the-money covered call. Should be easy to generate that $130, and keep the shares.

Win-Win!!!

 

[bkp_duke]

It’s none of your business but mountain already bought and it ain’t no stinking few acres. It’s plenty big enough to bury treasure on and it take a very, very long time finding. Course, you can’t get there from here. It’s remote and only one way in that is limitedly serviced. You listening @Unpilot ?

I’ll need to stock up well before winters hit since getting out by means other than a snowmobile or even perhaps snowshoes will be unlikely at times. I’ll naturally have a tractor, blower, plow, CYBRTRCK of course, but at my elevation - if I die during a winter, they’re not getting to me before I decompose. That’s for sure.

I’m splurging on a crap ton of solar and powerwalls of course. Starlink. A greenhouse. Pizza oven. A smokehouse. In ground cellar. Tesla Tequila. Top of the line surveillance and security. I’ve already lined up a Spec Ops team to do it. For sure a Cane Corso and probably a Rottweiler or maybe a wolf cross. I really wanted big cats of course, but I don’t think I can pull that off. Maybe I can convince a local cougar to hang out.

Envision me like this only more stylishly dressed and with a beer cooler full of alcohol that isn’t beer.View attachment 656130

My goodness. Did we hit a nerve talking about mountains?

 

[Nolimits]

Y’all love some mountains and beachfront but no one here lake lovers?

I would want a nice quiet lake home with good amount of acreage for the family. No neighbors. Lots of wildlife could be fun.

 

[StealthP3D]

NO! Don't sell a share!

Sell a WAY out-of-the-money covered call. Should be easy to generate that $130, and keep the shares.

Win-Win!!!

What, and risk tens of thousands of $'s of potential future profits for want of a frickin' toaster oven? Because you're not gonna get $1.30 if it's really way out-of-the-money. This kind of trade is perverse in the way it tricks you into thinking you're winning free money, right up until the day you're not. I hate trades with small, nearly certain rewards but only if you're willing to accept potentially big "gottcha's". No, I don't buy the argument that you pick a price you would be happy selling at anyway. Not worth it to me.

 

[bkp_duke]

What, and risk tens of thousands of $'s of potential future profits for want of a frickin' toaster oven? Because you're not gonna get $1.30 if it's really way out-of-the-money. This kind of trade is perverse in the way it tricks you into thinking you're winning free money, right up until the day you're not. I hate trades with small, nearly certain rewards but only if you're willing to accept potentially big "gottcha's". No, I don't buy the argument that you pick a price you would be happy selling at anyway. Not worth it to me.

I and my hundreds of shares made in the past 6 months with this pattern of trading will "agree to disagree" with you. And never once were they called away. @Lycanthrope has my back on this too. His gains make mine look like lunch money.

EDIT - your math is off too. Given the thread we are in, and he only needs $130 for the toaster, one would assume he is NOT doing that with a single call. Let's assume he has 1000 shares, and sells a WAY OTM call for $0.13. He's done, free money, nearly zero risk of shares being called away.

EDIT2 - the greater point, if you are in this thread talking about splurges, you shouldn't have to sell a share, ever, for a good and consistent revenue stream.

 

[StealthP3D]

I and my hundreds of shares made in the past 6 months with this pattern of trading will "agree to disagree" with you. And never once were they called away. @Lycanthrope has my back on this too. His gains make mine look like lunch money.

EDIT - your math is off too. Given the thread we are in, and he only needs $130 for the toaster, one would assume he is NOT doing that with a single call. Let's assume he has 1000 shares, and sells a WAY OTM call for $0.13. He's done, free money, nearly zero risk of shares being called away.

EDIT2 - the greater point, if you are in this thread talking about splurges, you shouldn't have to sell a share, ever, for a good and consistent revenue stream.

I'm not saying a good trader can't make money doing this - I'm saying it's not how I want to live. It's not worth it. A good trader can make money buying and selling shares too (day-trading). Not for me.

As to your first edit, my mention of one contract was in direct response to your suggestion to sell a single covered call to pay for the oven. Hence the $1.30 = $130. My math isn't off, it's your terminology. Calls are contracts. "a call" is short for "a call contract". It's now apparent you meant to use the plural form of "call". You don't say "sell a way out of the money call for $0.13 (to raise $130), you say "sell way out of the money calls for $0.13. Not trying to be overly technical here, it's just that's how people communicate without misunderstanding - by following long-established and logical conventions.

As to your second edit, everyone's situation is different. I have a very healthy balance of cash in my accounts (or unhealthy, depending upon your perspective), But even shareholders who have a ton of shares but are cash poor might prefer to sell a few shares to buy things to improve their lives rather than risk a lot of shares and be tied to the ticker to raise the same funds. Sure, they don't HAVE to sell shares but they might PREFER to vs. selling covered calls. There is no right answer for everyone. Personally, I hate watching the ticker all the day to protect my interests and that's exactly what I would be doing if I sold substantial covered calls and wanted to maximize their performance and minimize the risk.

I could mortgage my house if, for whatever reason I needed even more cash for whatever reason, but I would sell shares before I did that. There is no "one size fits all".

 

[UltradoomY]

If anyone is serious about Tampa / St. Pete - I have lived on the water here for about 7 years now and can offer lots of info if needed.
Just drop me a PM and we can discuss - I am not a realtor, just learned a lot and dont mind helping.
Cheers

 

[strago13]

If anyone is serious about Tampa / St. Pete - I have lived on the water here for about 7 years now and can offer lots of info if needed.
Just drop me a PM and we can discuss - I am not a realtor, just learned a lot and dont mind helping.
Cheers

Dropped you a PM

 

[MABMAB]

Splurged on not working for a paycheck!

 

[ZeApelido]

If anyone is serious about Tampa / St. Pete - I have lived on the water here for about 7 years now and can offer lots of info if needed.
Just drop me a PM and we can discuss - I am not a realtor, just learned a lot and dont mind helping.
Cheers

Like how do you avoid your house ending up under water?

 

[thx1139]

Yesterday our offer on a Vacation Rental in Key West was accepted. Right in the heart of Old Key West. Will have a car charger installed for renters. We will be wintering in Key West. No more wintering in Chicago.

 

[UltradoomY]

Like how do you avoid your house ending up under water?

Couple of ways, our house is built on a stem wall (concrete block filled in under with dirt) so it is 14' in the air but looks like a single story with steps up to the front door.
There are stilt homes built above the flood line which have the benefit of free air space under, and there are homes that are built on a combo of stem and stilt.
These have space under the home that is closed in and air conditioned but are not considered "liveable" space for insurance or permitting but are good for game rooms, home bar, workout rooms etc.
The newer the house the higher it is built and with better materials.
My flood insurance (required if you have a mortgage) is only $800 a year and I have dolphins and manatees in my back yard....

 

[ZeApelido]

Couple of ways, our house is built on a stem wall (concrete block filled in under with dirt) so it is 14' in the air but looks like a single story with steps up to the front door.
There are stilt homes built above the flood line which have the benefit of free air space under, and there are homes that are built on a combo of stem and stilt.
These have space under the home that is closed in and air conditioned but are not considered "liveable" space for insurance or permitting but are good for game rooms, home bar, workout rooms etc.
The newer the house the higher it is built and with better materials.
My flood insurance (required if you have a mortgage) is only $800 a year and I have dolphins and manatees in my back yard....

Yeah I think that's what I read there was some law at some point that new homes in flood zone had to be elevated. Looks like homes most homes built in 90's or later follow this and thus seem much safer in case of flooding.

Like this one

https://www.redfin.com/FL/St-Petersburg/3328-Bayshore-Blvd-NE-33703/home/47912589

I'm sorry, dolphins you say?? Is that anywhere with open water access or certain areas?

 

[UltradoomY]

Yeah I think that's what I read there was some law at some point that new homes in flood zone had to be elevated. Looks like homes most homes built in 90's or later follow this and thus seem much safer in case of flooding.

Like this one

https://www.redfin.com/FL/St-Petersburg/3328-Bayshore-Blvd-NE-33703/home/47912589

I'm sorry, dolphins you say?? Is that anywhere with open water access or certain areas?

Exactly, That home would be fine.
And yes, dolphins and manatees in pretty much every body of open salt water, fishing in the back yard, boating to islands that make you feel like your in the bahamas.
It really is paradise and the water temps are great most of the year so you can actually swim or scuba. No waves though, you have to go to the east coast to surf... but thats a 2 hour drive

 

[LightngMcQueen]

My end game is to build enough energy generation (Solar & Wind) coupled with storage (PowerWalls) to power my home and charge my vehicles.

I hope build upon the idea of energy independence. But, I want it to look good; that’s the hard part.

Freedom is priceless.

I do understand freedom of choice that financial resources give,
and I hope to be able to understand true Freedom of Speech that comes with having F You Money,
but I never thought about freedom of having your own energy and own food.

Thats a great point... Will wait for earnings report on Monday before start looking for Solar powered farm or solar powered yacht

 

[LightngMcQueen]

I know some people have mentioned plans on dream houses (or mountains), but I thought it would be neat to share any big purchases you are excited or dreaming about thanks to your TSLA (or other) investment.

I don't have a very specific plan, but right now it's looking like it could end up like this:

A house in Del Mar, CA, right near the beach. Ocean views from the house. Moderate sized house (3-4 br, ~ 2200 sq ft). Location, location, location. That's enough house for us.

Hmm ... Those curtains look like something a mob of marxists kids would love to set on fire during next social unrest ( in 3.5 years?).

Stay safe, stay humble.

 

[ZeApelido]

Hmm ... Those curtains look like something a mob of marxists kids would love to set on fire during next social unrest ( in 3.5 years?).

Guess you've never been to Morocco.

 

[Unpilot]

It’s none of your business but mountain already bought and it ain’t no stinking few acres. It’s plenty big enough to bury treasure on and it take a very, very long time finding. Course, you can’t get there from here. It’s remote and only one way in that is limitedly serviced. You listening @Unpilot ?

I’ll need to stock up well before winters hit since getting out by means other than a snowmobile or even perhaps snowshoes will be unlikely at times. I’ll naturally have a tractor, blower, plow, CYBRTRCK of course, but at my elevation - if I die during a winter, they’re not getting to me before I decompose. That’s for sure.

I’m splurging on a crap ton of solar and powerwalls of course. Starlink. A greenhouse. Pizza oven. A smokehouse. In ground cellar. Tesla Tequila. Top of the line surveillance and security. I’ve already lined up a Spec Ops team to do it. For sure a Cane Corso and probably a Rottweiler or maybe a wolf cross. I really wanted big cats of course, but I don’t think I can pull that off. Maybe I can convince a local cougar to hang out.

Envision me like this only more stylishly dressed and with a beer cooler full of alcohol that isn’t beer.View attachment 656130

Interesting......since we are "coming clean" with our purchases.....here is mine:

I went ahead and bought a island.

Might not look like much now...but just like @Krugerrand is trying to make a mountain out of a molehill...just you wait and see what I do with this Island!

 

[LightngMcQueen]

Interesting......since we are "coming clean" with our purchases.....here is mine:

I went ahead and bought a island.

Global warming is on your side,
stay put and keep squatters out.