Good careers for retired traders

Do they have a bankroll and were they good traders?

If its yes to both then maybe learn the poker tour or learn how to sportsbet
 
This is a fair question & I don't understand why you are savaging the guy for asking a question & trying to make a living for himself.
I knew a guy in similar straits. Former good trader (mkt mkr) but only a h.s. education & the market was evolving behind him. He had a good run & probably socked enough away to own his own place in nyc with sufficient creature comforts, a reasonable base for retirement & the good times along the way.
The guy 'retired' & became an EMT. I guess it gave him a) + cash flow without dipping into capital b) health & pension bennies & c) something to do that matched his skills: 1.) quick decision making in a rules- based environment 2.) ability to handle stressful situations.
 
Thanks everybody - these posts were really helpful. And thank you in particular to those of you who suggested specific jobs such as other sales jobs, etc. Steph - the EMT idea is great. It may not pay a ton, but it would use some of the same skills and would provide real excitement and comraderie.
 
Quote from nazzdack:

You may be correct. The unfortunate thing is that a lot of former traders don't have transferable skills to the rest of the world. In a job interview, the interviewer will never understand nor respect trading. Can you imagine going to college for 2-to-4 years when you are in your 40's or 50's..... Yick! That should be motivation to remain with trading or retire completely and not waste your "golden years" in the work-a-day world. :cool:
More...

You appear to view productive work as a painful necessity rather than an opportunity to enhance life and create something meaningful before you die. With that attitude, ANY "job" will suck. I can't tell for sure since i am not old enough, but I suspect that passive retirement sucks too, even if you are a multi-millionaire. Productive/creative work is IMO a necessity for a fulfilling life.

By this logic, former traders should simply ask what they are passionate about, then find a viable career in one of those areas. Then again, a retired trader who is not passionate about trading & the markets has quite frankly pissed away a decade or more of their life on something they never enjoyed. They would probably have some frustrated talent or interest they didn't fully pursue, so they should go and explore that.
 
There are plenty of things that a retired trader could do. About the only thing that would be difficult would be to go to corporate america, but really who wants to do that?

Look at trying to make a 2nd career from a hobby. Depends all on how much the retiree wants to put into it and what they are looking to get out of it.

Do they need the income or is this just to keep busy?
 
Quote from Cutten:
....productive work......former traders should simply ask....They would probably have........
More...
1) Your points all make sense.
2) Regarding "productive work", I know that I have higher and more unrealistic expectations about what constitutes "job satisfaction" in the work-a-day world compared to most people.
3) Because of that, I use "fear of boredom and brain death in the job world" as a motivation to keep grinding forward when my trading goes through a stagnation or drawdown period.
 
If someone has been a successful trader for a long time, that means they've been a survivor who's resilient, determined, resourceful, and doesn't embrace failure (even if they've been forced to leave the markets at some point.)

Everyone has different strengths and interests (and needs), but if a former trader can carry these things over, they'll be ok.

However the very difficult thing for a former trader might be the same that plagues everyone else in life...finding something that they really love to do and would get enthusiastic about, and that in itself takes a lot of individual soul searching and experimenting.
 
Quote from MGJ:

I think it would be a lot more honest if you were to tell your clients that you have absolutely no idea what they can do next, and you can't help them, and there is no fee.

Wheedling free suggestions from total strangers -- in your first and only posting to a chat site -- and then regurgitating that "information" to your clients for a fee, doesn't seem like a huge Value Added service.

Or putting it another way: I see what's in it for you. But I fail to see why I would be motivated to help.
More...

This post seems most relevant.

Personally, I'm still laughing at the concept of a "career coach".
 
I don't understand why a "retired trader," would need a second job. Maybe a trader who quit the biz early for some reason might need something to do.

But I know damn well when I hang it up in a few years it will be to fish and ski and do volunteer work and learn how to really cook by attending the Cordon Bleu in Paris.

No second jobs here.
 
You must log in or register to reply here.
Back
Top