Your Path To Become A Millionaire...Starts Now!

[@jakokrushnisky]

Hi Lee Great to hear from you, I appreciate you ! Today's chat is a good refresher to start the year...already sent today's chat to my son. All the best for 2025 !

[@leelowell]

Thank you! Same to you.

[@rogeriocosta8967]

Hi Lee, Thanks for sharing this information with us. I wish you a great 2025!

[@leelowell]

Thanks for watching

[@TheWittyTravelers]

Love love love the content Lee!! Always glad to tune in and rewatch to learn!

[@leelowell]

Thanks for watching

[@kenjordan5750]

One way to help put $ away for retirement is to use your income tax refund. I would divide my refund into 3 parts. 1/3 towards retirement, 1/3 to help with current bills like mortgage, credit card or electric, and 1/3 towards vacation. It made saving for retirement during the year easier. Save your money!

[@merchantmareed]

Or get your withholding corrected as best you can, so you can invest that money a year earlier instead of making an interest free loan to the government.

[@leelowell]

Thanks for chiming in. I guess your method depends on whether you get a refund.

[@kenjordan5750]

@@merchantmareed Have you looked at the W4P, lately? Incomprehensible! I just retired, and that's how I did it, when I got tax refunds. I was a 1099 independent subcontractor and my deductions were correct until my jobs were eliminated, midyear. If it took a few months to find another job, then my withholding was too high, and I got refunds in the spring.

[@AJF66OG]

Lee, I think you didn’t select the correct drop down for “Compound”. Since the rate you used was an annual rate, that’s what should be put in the drop down for compound annual and not monthly. The additional contribution is monthly and the radio buttons were selected to invest that at the beginning of the month and that was correct.

[@leelowell]

Good point. My assumption is that money is being put in monthly, so the investment (savings) will compound monthly as well. I guess it can depend on your bank if you're going to be using a straight savings vehicle at the bank. Since we're talking about investing in the stock market, your portfolio will keep compounding on itself every time (month) you buy more shares of the S&P 500 fund. That method is not dependent on a bank compounding your money monthly or annually. Thanks for bringing it up.

[@usa4ever1776]

Hello again LEE! Appreciate your channel and your wisdom! Happy New Year! Question. If you want to sell puts on a stock of a good company BUT it's trending down, would you do it? Or would you rather do it with the stock of a company trending up with great fundamentals? I know common sense would say up but other pundits don't seem to care. I'd like your input on this Sir and thanks much!

[@leelowell]

Well, if it's in a downtrend, then more than likely it will continue down for a bit. Would that annoy you? If you're planning on getting assigned and willing to hold forever, then it probably doesn't matter at that point. Me personally, I wait for a pull-back within the longer-term up-trend. It makes getting in on a stock with upward momentum a better play. Not financial advice!

[@angelovella8955]

Thank you Lee! And what a goal for 2025. The value you bring to the option trading community is incredible. Much appreciation for arming us with the proper tools and knowledge.

[@leelowell]

Thank you. Glad to be of help.

[@Raul-ve2hb]

Awesome video! Where can we begin in your channel if we want to dive in to writing covered calls?

[@leelowell]

Hi - try these videos for covered calls - kzbin.info/www/bejne/aZPYq3lpfdZ-Ztk and kzbin.info/www/bejne/bGjXiXyae7dqd9E and kzbin.info/www/bejne/qGW2iaVpYruYnMk

[@marbss]

Great clip Lee. I'm sharing this with my kids as I tend to know a lot - but I'm not the greatest teacher! :)

[@leelowell]

Thanks for watching

[@thobanimsibi1399]

Much Love from South Africa.

[@leelowell]

Thank you!

[@shainhaggadone9943]

Path to a million.... Selling puts to the gamblers. Share count on long positions. Keep building position. When your stock goes in consolidation sell covered calls. Hedge with puts. Keep adding on the lower highs.

[@leelowell]

Thanks for sharing

[@thatpointinlife]

$10,000 invested at birth, with ZERO additional contributions, and earning 8.5% per annum, becomes $2M in 65 years. Why the F aren't we front loading social security this way, instead of taxing payrolls for the lifetime of every participant? Doing it this way would actually cost 1/3 what it currently costs us to fund social security, and participants and employers would no longer be subject to S.S. taxes, increasing liquidity and promoting growth in our own economy.

[@leelowell]

Maybe politics is in your future. Thanks for sharing.

[@ecclairmayo4153]

Thus is the best idea! Who would provide the $10K upfront? Parents would it, but we have some that won't.

[@dg271]

Path to 1 million? So you're predicting a 90%+ decline in the market?

[@leelowell]

Not sure what you're saying. Who's predicting a decline?

[@coplain]

@@leelowell May be he has 10 million in market 😂

[@dg271]

@@leelowell It's a joke -- to get to 1 million from over 10 million