According to the LA Times, over 255,000 Americans 85 years old and over worked over the last 12 months.
That’s 4.4% of Americans that age — up from 2.6% in 2006, before the recession. It’s the highest number on record.
That’s a pretty discouraging trend and might suggest something like this:
Even when you’re 85, you might need to keep working just to survive.
But that’s also probably why you got into trading, right? So you don’t need to work forever. So you can retire much earlier, and finally, enjoy your life.
At least that’s MY plan.
I definitely DON’T want to keep working forever. (Even running a hedge fund, which I enjoy and love, is quite a lot of work too). I’m in my most productive age, so I want to take as much advantage as I can now – and then start thinking about my “exit plan”.
Trading is definitely one way to retire sooner than at the age of 85. However, there is a catch.
To make a good amount of money, you need to trade with a reasonable amount of money. (No, you WON’T be able to make a living from trading in the next 10 years if you start with just a few grand).
That means you need to put that money in RISK. And that also means you can LOSE this money, and then have nothing to trade with. Which will probably lead you to retirement at the age of 85.
So, if I were you, this is the VERY FIRST thing you should do when putting your hard-earned money into trading:
Trust me, 90% of our hedge fund is based on defense, and about 10% on offense.
My philosophy is – defense comes first, and then the profits will take care of itself.
So, in your trading, make sure you include AS MUCH INSURANCE AS YOU CAN.
Don’t give your money the chance to be lost so easily. Defend your trading account by ANY means. And do it EVERY day.
You don’t want to be forced to work when you’re 85.
And if you still don’t have any serious defense at place…
…definitely check out the FREE Smashing False Breakouts online training.
It’s a proven solution that can keep you away from some potentially serious trouble.
Stop False Breakouts from Destroying Your Trading Account
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