Brentsky...500K to retire????
Don't know your age, but most could never "retire on that amount". Even if 65, 500K for maybe 25 more years of life...wouldn't work for me! Regardless, I'm only 41 so we probably agree that isn't an option, especially with three kids still at home... :-)
In answer to your question, no...I am not managing funds for others. I did very well in 20 years of retail management by living below my means, staying out of debt, investing regularly, tithing (yes, I believe God honors giving...) and maximizing my pre-tax 401k contributions. I was also fortunate to be working for a company in a real turnaround situation that greatly increased the value of my stock options. (Vons and Safeway..just check out a 5 year graph of SWY) My wife was also a retail manager for Longs Drugs for 26 years. She "retired" (at 46) with some substantial assets as well. We don't include our retirement funds in any way...our 401k accounts were rolled into self directed IRAs that I manage with a long term view. These accounts will take care of our retirement. But for the next ~20 years, we are trading/investing for a living with other assets.
I'm sure there are those who are making a living trading with less than what I suggested as a minimum. Trading style, temperament, and risk tolerance certainly matters. For instance, I don't use options...just not my style...but one could leverage a great deal more positions with options, albeit with more risk.
Regards,
David |
