Absolutely. The problem is I wouldn’t consider trading on the Internet, although there are lots of other ways (though I’m not a big fan of them). There are two ways I can work for a profit:
If you’re a market maker, I’d recommend starting your own hedge fund or buying a few stocks to trade while you’re at work or vacation. In the market maker world, you don’t really get the best price for a stock because everyone’s reading reports about their best trading idea. It’s basically a zero cost, low risk, high reward way to be able to make lots of money while being in control of a very volatile portfolio. (In the case of a hedge fund, you only have to pay you, your wife, and your child.)
If you’re an investor, you can look to making a portfolio through an indexing system, investing through the S&P 500, or taking a balanced approach using fixed income, bond, or stock investments.
Will I earn enough to retire comfortably?
I’ve been lucky enough to get by with 3 weeks of 401(k) contributions each year with some money for retirement. With a little time investment, I believe I could retire on an early retirement with the money I have now. For me, this is possible, although the exact numbers need to be worked out. For now, I don’t plan on moving out anytime soon. I also want to start paying off my current home and buying a decent sized house. In the long run, when I could do so without being under financial risk, I guess I’d like to retire on less than $200,000. For me, being in the market is the same thing, a great way to make a small profit. I’d never trade, but for some people it has its value. Most people don’t trade, and for that reason, the majority of the people who trade are doing it for the wrong reasons.
What’s my advice to men who want to make it as a Wall Street stock broker or trading analyst?
Get into this business. Get a real job so that you can afford to put forth the time needed to make a living. Try to make investments of your own, even if they’re less than you want to invest.
If you are young and able, and have a reasonable amount and knowledge and abilities needed to do stock research, trading, writing analysis and writing briefs (which are required for a trading position). If you