Rich means being able to afford 1 hooker everyday and 2 on sunday
Quote from HATEtheRisk:
To make $1M passive a year, on time money interests accounts, you would get a maximum of 2% from a few banks, you would need $50M for that.
You could distribute it to 5 different banks, to be sure you get the 2% of that whole money.
1M$ a year, for only working 2 days a year, with walking to the banks, or signing the contracts, or move your money on different accounts --- is a really good definition of being RICH.
Besides that i think, if you are a single and dont live in big expensive cities (like new york), 5M$ are more than enough, to feel rich for the rest of your life and to do everything you want.
But if you have a family, or do you prefer the high expensive life style, you need of course more, maybe at least 15M$.
Quote from jack hershey:
You have just explained that you are not connected. Maybe someday you will be.
As Blowinsky mistakenly concluded, he thinks I do not provide passive income to others.
Look up or Google the initials POA. Then look up the NFA regs on the limits of POA's and the passive earner who uses POA's.
Try putting 6 and 6 togther to get a new value.
The market makes an offer daily. Compute it as a multiple of the daily range or ATR. Then leverage that multiple two ways: as if you were a member of several exchanges and as if you where given leverage by your IB's that is on top of the exchange leverage allowable.
You are an outsider. As of yet, you have no connectiions to the reality of making money in the financial industry.
Odrdinary people in the financial industry are not connected either. Nor are government agencies or regulators. Everything that "insiders" do is unknown to the normal people in the financial industry and the government, its regulators and the lobbiests. That is why there are so many self evident very dumbed down solutions to this Depression you are in.
Insiders have immunity and have freedom. They give passive income to others (via legal agreements called POA's) who work to solve tha problems communities and society is facing.
Are you doing anything productive in society that would enable you to give me a limited POA so I could fund the support you need for your good efforts. No you are not. If you were really terrific at it I would know (via others) just who you are and what you need.
Think about what is after rich. Google Pete Peterson and google his director of his foundation (low ten digits) who used to run the GAO before Pete hired him.
Quote from jack hershey:
. Maybe someday you will be.
-> Yes maybe, if i want to and if i will have the opportunity.
You are an outsider. As of yet, you have no connectiions to the reality of making money in the financial industry.
-> Yes i know, like the most of the market participants.
What is the reality of making money for you, making hundreds of millions ??? or making enough to have a good living ???
-> I always was an outsider, everywhere !!! thats normal for me !!! But i can make a living as an outsider and online FX+Futures trader !!! And i dont have feel, because i have no money to life without sorrows or have a bad job what kills my nerves. No, I am happy to be my own boss, and to have made enough money to fell free. I am very thankful for the trading business. Thanks to god, that i have found the way to it.
That is why there are so many self evident very dumbed down solutions to this Depression you are in.
-> Yes. I am young and dumb, i know. Please give me some advice!!! You are an old man, an you have the most behind you, i am the exactly opposite !!! Grandpa !!!
Insiders have immunity and have freedom. They give passive income to others (via legal agreements called POA's) who work to solve tha problems communities and society is facing.
-> That sounds nice. How to do this ???
Are you doing anything productive in society that would enable you to give me a limited POA so I could fund the support you need for your good efforts. No you are not. If you were really terrific at it I would know (via others) just who you are and what you need.
-> Man, i want to do something productive and good in society, i really want to. But i am currently so busy with my trading, when i trade i have no time for anything else. First i must quit my trading and retire, before i can manage to help people with my money. I can not split my self in two parts, i am not superman. sorry.
-> You would know what i need. thats funny. i still dont know what i need !!! : -)
Think about what is after rich.
-> I am thinking all the time. But i dont know, what is there for me, i dont know.
-> I have made enough money for my whole life and i still keep trading. Yes i fell rich. I dont need hundreds of millions.
People are different, but we all become sick and die one day, then we are not different anymore.
-> I am proud of myself, i was very poor and i have worked very hard to make my money, and i made it, "the american way" how you call it in the USA. I am free now, and nobody can fuck around with me. I can do what i want, i can life where i want, and that all because of my beautiful trading.

Quote from HATEtheRisk:
Okay, man, i know what is POV and yes i have no connections.
But what the fuck have that to do with my post ? He, nothing !!!
Absolutely nothing !!! You will not get an higher % than 2 of your money if you want to invest over 50M$ into a time money account for one year. and that is passive money, you can relax and collect it after the year.
So what do you want, i really do not understand what you are trying to tell me ??? BIG QUESTION MARK ???
I am not super rich ok, i have no connections in the financial world, but i can describe myself as rich in the sense of money and i make my business with the best business partners i can think about. And i can continue this way and grow my money.
In the sense of life, i am not rich, there you are right. I am still searching.
But to make complicated things easy: to be rich is when you have no finacial sorrows anymore and when you can do what you want anytime you want !!! Thats freedom !!! But its not an guarantee to be happy !!!
Quote from jack hershey:
Two out of three is pretty good.
Please change the third letter FROM V to A.
POA stands for Power of Attorney. In the markets it is a limited one since most people do not want others touching their money DIRECTLY. These people do NOT want to trade and they WANT someone to TRADE their account and they still want to have the power to take out funds frequently.
Here is a typical example. I need family psychologists to man an office at a fransican Monestory in Phoenix Monday through Friday. I get five volumteers who are willing to give a day a week in exchange for me growing their capital for their weekly operating income and retirement.
I trade their accounts along with accounts of others doing other contributions of time.
For me, I work as a volunteer (with medical malpractice) two shifts on weekends at the Good Sam trauma center. I am free to do so and qualified as a "pumper" to keep hearts working while the victim is stabilized enough to go to emergency care.
So you can understand, pehaps, that I am a person who gets at least fifteen man days a week done for me during the week.
I make NO more effort than I do for myself as an amateur traders just trading my accounts.
Past history shows that when the SEC got computers to monitor, my accounts showed up on their "hit" list of potential criminal activity. the SEC was being stupid and confused. They saw me doing what I did with POA's and the performance level had to be criminal for some reasons.
Those I had POA's for were very happy and my brokers thought I was being a criminal too.
But my brokers lawyers had to defend me. They failed, but all turned out OKAY, because of reasoning on some SEC exec's part. He figured out it was impossible for me to know enough people to have the required criminal knowledge.
You and the SEC are both alike. Neither of you can understand what I do.
At least the SEC finally figured out what I do not do. LOL....
So what value replaces your 50mill?
That is another thing you won't believe; BUT it is all on the record and mistakenly interpreted by the SEC...... LOL.