Currently, don't really mind my job -- it is not strenous, not really stressful, I rather enjoy my work... BUT I would like to be able to work less and do more fun things. I plan to use some spare hours to do some research and see if I can replace my regular income with passive income.
Properties did not work out. High property management fees (7% of rental income) and property managers don't even tell me that my tenants had defaulted previously until things got serious. I fired the property managers. Property was poorly looked after and property managers also said nothing. The highlight was when the tenants trashed everything and I had to front up the tribunal in my own time. Too much emotional stress in that -- not accounting for financial losses.
While in search for another viable second income which I hope can be passive income, I thought I should start entertaining the idea of trading. Afterall, I don't want to slog all my life, pay taxes and have little left for retirement only to worry about everyday expenses and also health etc. I would like to at least maintain my current standard of living which may be hard when I have all the time in the world but cannot do much. I have seen many people who had to stop work altogether because of health issues (e.g., stroke) and not having enough to tide them through unexpected retirement can be stressful.
Trading can take place any time of the day. There are markets that go 24-7. Maybe I can start there but I need to do some research. If you have any thoughts that you can share to help me along the way, please drop me a line. If you have thoughts that I think other readers might like to know, I shall publish it too! So, when you drop me a line, please note that I may share it to help others like me.
My plan for this blog is to use non-technical terms so that I can understand what is out there. Thus, if I am not explaining correctly, please let me know so that I can correct myself to become a better trader.
The goal is to find a trading strategy that is not time intensive and that is a reasonable winner.
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