originally posted in:TFS The Floods Sanctuary
But either way, you can't expect to live off of day trading without about a $800,000 or so to start.
If you average 15% returns per year - and if you can manage that, believe me you are good at what you do - that only leaves you with $120k pre-tax each year - and since these will be short term gains, you'll be paying ordinary income tax rates. Some years you'll make less than that, some years you'll make more. You have to be disciplined to save when you do well one year to have extra principal in years you are down. You never want to touch that original principal investment for your costs of living.
English
-
I want to be a doctor and if I play my cards right my whole med school will be paid off and I will have about $300k before I become a civillian doctor. I want to live somewhat frugally and financially set my self up in a way that all money lost for trading wont hurt me at all.
-
Edited by Bulldozer: 4/19/2013 6:55:14 PMEnjoying being in debt for 20-30 years and living like a bum for another 15 years to come Also enjoy 70 hour work shifts > Thinking you'll become a high paying civilian surgeon after what ever military thing you're doing You strike me as a pusy who would die at the sight of blood
-
>Military will pay for med school >doesn't want to be a surgeon