My career out of college was working in securities trading. I was working my way on the path to becoming a full trader. I started as an analyst, eventually earned a Series 7 and 63. I had access to the floor of the Chicago Board of Options Exchange (CBOE). I absolutely loved this world. There were perks, gifts and access to what seemed like endless supplies of money. It was not unusual for me to handle billions of dollars worth of transactions a day. I wasn’t the one making the trading decisions at this point, I did the execution. Give me the trade, I input into the system or called into a trading floor (CBOE, CBOT, AMEX, NYSE) depending on the size of the trade. While I wasn’t making any money, in addition to my salary, I was in a fantastic position to learn how to become a trader.
Eventually I realized it wasn’t a life I wanted. Think Gordon Gekko, “Greed is good”. You can absolutely get filthy rich doing this type of work, but it can take a huge toll. There have been major economic crashes in our history where people lost everything. Suicide. Drugs. Illegal activities. Now this is certainly not true of everyone who works in this industry. I love the activity of trading, but not the world of it. I took a class a few months ago that allows me to get back into trading, but on my own behalf. This gets back to why I studied Finance in college. The key word is “exponential”. Getting your salary every week is additive. You add the $1000 to the $1000 you received two weeks before. Trading, investing in general, is exponential. You take the $1000 invest into a vehicle (stock, bonds, business) and it can become $5000 without any work on your part. The reverse is true too. Investing isn’t a guarantee, but it is one of the best ways to build wealth. This is the basis of having a 401k or Roth. Take what you earn today and let it multiply over time.
I’m excited about the methods I’ve learned. While I haven’t made millions yet, it is a big part of my financial freedom plan. The Bible does say we should have multiple streams of income. The Universe wants us to have an abundance of love, health and wealth.