I finally opened my trading account and have a few long term investment stocks. I have anout half focused on dividend income and half focused on account growth. I am a medium risk type of personality so my picks are balanced between growth and income.
These are my long term plays where I don’t plan on making too many trades.
But to start my focus on making small steps toward an ultimate secure retirement without worrying about always looking at the stock prices I am focusing on commodity trading. The way I am doing it is based on the QuietTrader course from my good friend and amazing financial talent Dr Fred Rouse.
Most people have a fear of commodities because the average failure rate is high. I don’t want to be average 🙂
It makes sense to me.
You don’t have to keep a constant eye on the market because you trade End of Day (EOD).
You don’t have to worry about market fluctuations and volatility because that is how you make your money by taking on small contracts for only a short period of time. In and Out.
You do get to make small leaps ahead without ever risking more than 1% of your trading account value on any one contract.
I mean how much money does a person REALLY need? There is a 2010 study about exactly how much money does a person need to be happy. The answer is about $75000 per year. You can read it here
If you can make $75000 per year working 50 hours a week or you can make it working 6 hours a week, which would you choose? The best part about it is you don’t even have to stop working at what you are doing now to start on your path to $75000 per year in only 40 minutes a day- maximum!
Money doesn’t buy happiness but it sure gives you more options. It gives you the option to drive what you want. Live where you want. Dress how you want. Eat what you want. And yes, fly what you want in some cases 🙂
Great flow to practice balance and work on your hips. Not too tough except for the flexibility needed in the arm balances, which I don’t have. Yet 🙂
I finally found my first plane. It took me many months of deliberation.
I finally narrowed it down to wanting a high wing plane to see below me and wasn’t sure about an experimental that I didn’t build myself. My sub $30K budget relegated me to something relatively slow and efficient to fly. I figured the less expensive it is to fly the more I will fly. I also wanted some off airport capabilities for flying off the beaten path. Plus taildraggers are cool 🙂
Found a beautiful fully restored Champ but of course it was 2000 miles away. No problem perfect opportunity for an adventure! New York to Montana, no problem.
Well, not exactly. But exactly an adventure to be sure! To make it better I still didn’t have anything but a student certificate yet. See the journey in later posts.