When most people think of being financially independent, they imagine themselves never having to work again.
While that is one view of it – there is another.
The other way of thinking of it is to be free (independent) to make money however YOU want.
This is finding independence in the process of building your financial well being.
A JOB will not give you financial independence.
When you work for someone else you are dependent on your boss and your company for your financial well-being.
However most people willingly sacrifice that independence for the security of an hourly wage or biweekly salary, along with retirement and medical benefits.
But in today’s employment environment, working for someone else no longer provides the same type of security it did for the last generation when people often worked for the same company for 40 years and retired with great medical and pension plans.
A BUSINESS will not give you financial independence.
Though you may be the owner of your own company, you still have a boss – your customer. In my seminars I’ve found that most business owners spend more than 50% of their time on tasks that don’t directly result in making them more money.
I’ve owned several businesses and experienced the burdens of:
- Government paperwork
- Employee management
- Legal hassles
- Industry changes
- Brutal competition
- … and sleepless nights over the risks of owning my own business
Keep in mind that my use of the term “financial independence” in this article refers to being independent while doing your work. There are those (few) who work extremely hard day and night for many years, build a large company, and then sell it. In this way they are able to create financial independence after they exit the business.
Trading can give you true FINANCIAL INDEPENDENCE while working.
As a day trader or swing trader you are truly independent. That’s the good news and the bad news.
The GOOD NEWS is that you don’t have a boss to obey, you don’t have customers to please, and you don’t have to spend a lot of time on things that don’t directly make you money. In this way it is a relatively “pure” money-making endeavor.
Trading, when conducted properly, provides a huge earnings potential. While that reward is reserved for the few, it is an exciting possibility. So it can give you financial independence in the process of your work as well as potentially providing enough money to become financially independent in the traditional sense of the term.
When it comes to living the ideal LIFESTYLE, combined with HUGE EARNINGS POTENTIAL, nothing compares to daytrading for a living – whether you do stock market trading, forex day trading or emini trading.
The BAD NEWS is that you succeed or fail on your own merits, and the truth is that most fail.
Trading is inherently risky. Most traders do NOT ever become financially independent. Daytrading, emini trading and stock market trading are all deceivingly difficult.
Is daytrading for you?
Only you can answer that question by weighing the risks and rewards and talking with your family and trusted advisers.
If you’d like to get a free “taste” of trading, I invite you to enjoy my free 5-day correspondence daytrading, stock market trading, emini trading and forex training course videos by clicking here:
Leave your comments below regarding this topic. Traders – feel free to share your trading experiences, both the benefits and challenges, for others to read.