24 single looking to go full time into day trading
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Sounds like you have a business owner mindset. Are you going to be able to sit in school for 4 years looking forward to a ~$70k salary and a $50k debt load?
ET usually paints the picture this way.
Trading: You'll lose all your money and kill yourself
School: Wonderful successes
Look at the flipside...
Trading: 30 yo multimillionaire
School: ~70k salary at a job you hate, $50k debt....bullshit marriage. All you look forward to is coming home to a couple beers and Monday Night Football and 2 weeks of vacation where you visit your wifes parents at their Lakeland, FL trailer home. This probably what happens statistically isn't it?
Might be a little overboard, but just be aware of all of the positive and negative consequences of each choice and never take advice from someone you don't aspire to be....they can only help you get to their level.
If you choose not to go to school you should build up more savings before trading in my opinion, or gain the skills to take your business to the next level.
double that
My biggest fear is this
"School: ~70k salary at a job you hate, $50k debt....bullshit marriage. All you look forward to is coming home to a couple beers and Monday Night Football and 2 weeks of vacation where you visit your wifes parents at their Lakeland, FL trailer home. This probably what happens statistically isn't it?"
I am not looking at trading for making it rich I am looking at it for the free time and happiness with the free time I that I can possibly get. I really accept the college idea but my fear is that I will be stuck working somewhere for the rest of my life my idea of slaving my time for some company is "DO NOT WANT!".
I have held a few fulltime and consulting positions I have been through it I have seen what happens I already know I don't want to work for anyone anymore but for myself, but I really have to want it, I am in the process of creating a website that may allow me to make $200 a month or more but that ain't gonna cut it.
My take is if you really got the entrepreneurial mindset to dig into something 150% for couple years could give trading a shot. The likelihood of failing is extremely high, so need to have something in place so u dont end up on the street. I have always excelled in both mathematics and sports on national level so I tought I would figure this game out. One year in and still strugglin, although making progress all the time. But not anywhere near paying the bills off trading.
There's no reason to end up $50k in debt to get a degree. You mentioned that you went to a technical school, so I assume you already have some college credits. That will help. Look into a nearby state college rather than a private college. It's much cheaper.
See if they accept CLEP, Dantes, and AP exams for credit (90% of colleges do). I was able to finish my degree in 2.5 years because I tested out of all the bullshit liberal arts requirements. Doing that saved me $10k+ in tuition. The remaining tuition costs came to $12k. Financial aid covered about half and the other half is in FAFSAs loans ($6k at 6.00% for 10 years).
See if they accept CLEP, Dantes, and AP exams for credit (90% of colleges do). I was able to finish my degree in 2.5 years because I tested out of all the bullshit liberal arts requirements. Doing that saved me $10k+ in tuition. The remaining tuition costs came to $12k. Financial aid covered about half and the other half is in FAFSAs loans ($6k at 6.00% for 10 years).