The Dream

zghorner said:
I left the work force in 2018 at 32 years old. My earlier comment was A bit premature because you gave us little info to go off of. But the way I did it was this:

step 1: pay off all of your debt. (fuck Cardone, fuck Kiyosaki...they both will have the average person bankrupt with their love of debt).
step 2: have some type of income generating asset(s)...I got lucky here and fell into a crazy cheap deal. Rent houses are the most obvious choice although I do not like them...always more work and hassle involved than people think. I am in the storage business which i believe to be much much better than housing.
step 3: quit.

It really is that simple. but to break it down further...

Step 1: sell the unnecessary keeping up with the Joneses bullshit that you make payments on...Wife has a new tahoe because society expects it...you have a new boat or RV or $30k sideXside because "you deserve to have a little fun"...dumb. These things leave most people nothing more than what i call "broke at a higher level". Do not purchase anything you don't NEED. shoes (when you already have several pairs) and other dresswear, vehicle accessories (this kills younger people), eating out, leaving the lights on in vacant rooms, wife paying hundreds a month on hair and nails, stop EVERYTHING! Small waste adds up at the end of each year. Apply the savings towards paying off your highest interest debt first.

Step 2: once debt is paid for, save your fucking money. Poor people get money and do what with it? spend it on things that take money out of their pockets (liabilities). Rich people get money and do what with it? spend it on things that put money into their pockets (assets). So buy something that will put money into your pocket each month. Look for unique opportunities. Let family and friends know you are looking. My wife bought her first rent house through the grapevine for $20k cash...rented for several years and sold for more than she paid for it...carrying the note collecting payment+interest. Yes it was a crummy house but it still put money into her pocket reliably for years.

Step 3: Leave on good terms and smile letting the warm fuzzy feeling engulf you.
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didn’t you blow up your account? And if I recall it was a relatively small account (not one that could support a young family forever).
 
newwurldmn said:
didn’t you blow up your account? And if I recall it was a relatively small account (not one that could support a young family forever).
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pretty much yea...trading has been a terrible pursuit for me. We are able to live alright on storage income but keep in mind I have zero debt and live a very frugal lifestyle. I'm not at all claiming to be living high on the hog because I am not. My financial situation is very much stagnant and contains no extravagance.

I would have been so much better off financially simply parking my money in the s&p and keeping my job...But I didn't.
 
zghorner said:
pretty much yea...trading has been a terrible pursuit for me. We are able to live alright on storage income but keep in mind I have zero debt and live a very frugal lifestyle. I'm not at all claiming to be living high on the hog because I am not. My financial situation is very much stagnant and contains no extravagance.

I would have been so much better off financially simply parking my money in the s&p and keeping my job...But I didn't.
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honest.
 
Jdesey said:
great question.. my income in sales has been at it's current level for many years. The thing is that $$$ is high and hard to walk away from. I do not care about how much I make, I do not even need to make as much from trading as my sales job, but I am making more at trading. It is really more about freedom. I am just sick of having a boss, quotas, etc... and then there is the activity of convincing people every darn day to say yes to purchase the service I sell..
by the way, I am 1099 for my current role so I am not giving up any benefits.

I did not expect the hesitation to go full time that I am having...
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When it's time to quit, you won't have to ask, you'll know... so keep working.
 
zghorner said:
pretty much yea...trading has been a terrible pursuit for me. We are able to live alright on storage income but keep in mind I have zero debt and live a very frugal lifestyle. I'm not at all claiming to be living high on the hog because I am not. My financial situation is very much stagnant and contains no extravagance.

I would have been so much better off financially simply parking my money in the s&p and keeping my job...But I didn't.
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More important than money, you are living the life you love instead of holding a job you did not enjoy.

If you truly love trading, give yourself time. Start small, find a style that fits your personality, don't bet the farm and you will get there.

I am amateur retail, have been at it since 2010. I share your pain and dream.
 
traider said:
Just trade for a year more then you have enough stats to decide to quit
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If you are one of us, the over the hill gang, remember every year is like a 5% drawdown of the time remaining and unlike trading losses, you cannot get this drawdown back.
 
IMHO, now it's not a good time to either 1) quit a job (that might not be there in a year if you want it back), or 2) rely on a repeat of the last 8 months of trading performance (which, regardless of whether the market ends up or down, will probably look very different).

I share your pain and your goal, but I'd advise a bit of caution - and a probation period of an extra year or so.

Best luck to you!
 
Jdesey said:
I have finally after so many years of effort gotten to a level of success with trading. It has been a very long journey for sure, over 8 years.

Now here is the weird part. I have now been consistently profitable for over 8 months, which is a big deal. I am now making WAY more money swing trading than my sales job. I dreamed forever to quit sales after 30 years and trade. And now I am hesitant to pull the trigger. I have over over 4 years of living expenses saved up. I thought I would be so excited which I am.

But... I have had a full time job now since graduating college for now over 33 years. I am 57 and feel that trading is what I want to do, and enjoy life.

Any advice is appreciated. I guess this is normal to feel this way.
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What does your wife say?
Is your mortgage paid off?
 
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