By Adam L., Scottrade Client and Guest Blogger
Ask anyone what his or her American dream is and a majority will tell you it is having the freedom to live a life they can enjoy - one free of financial constraints, bosses, long hours, and deadlines. But few ever make that leap from steady paycheck to financial independence.
Facing graduation in a year and knowing 50 percent of graduates today are unemployed, I asked myself if the orthodox path of getting a job, having the 401(k) and retiring years down the road is even viable anymore. So I decided to take a closer look at investing and trading as a way to earn an income without having a boss. And, what I found is that there is so much freedom in investing.
Why I Choose to Trade on My Own
What I like about investing is that there seems to be no limit. You can see a 20 percent change in the market one day and maybe 50 percent with one of your investments on another. That in itself is what made me want to invest and trade on my own. But you have to do your homework and know what you are doing.
With Work Comes Reward
Like anything else, trading and investing is what you make of it. There is definitely a learning curve, and I have worked to educate myself. From watching webinars to attending conferences and visiting the Knowledge Center, to finding the textbook answers to my questions. I have even stayed up until 4 a.m. screening stocks, reading articles or reports, and reviewing charts. I am very passionate about investing, but when I put up my own money I want my investment education to kick in and help me make the right decisions. Some of my best trades have been because I took the time to research and plan my trading strategy.
Honestly, I think I will always be a do-it-yourself investor– because when it comes down to it, I want to be in control of my investments and my financial freedom.
What does financial freedom and independence mean to you?
Also of Interest:
Adam L. has been a do-it-yourself investor since 2010 and is currently studying finance.
Testimonials are not representative of everyone’s experience and only provide information about the individual’s experiences as to the point in time when they are provided. Individual experiences will vary. No one has been paid to share their stories here.
Alan Salls, yes 100% of my income comes from investing. On top of equities I trade the Forex market, as a student my expenses are low compared to older investors with more responsibility this is an advantage I exploit.
I am scared of 50% change in investments on a daily basis.
Great words of wisdom Adam. I am in the staying up 'til 4 AM studying stage myself right now. I do have a question for you - are you at the point, after only two years, where you are making 100% of your living off of investing yet? Thanks!
I totally agree with Adam and this was an awesome article! This was really fun to read. I have no doubt that Adam will be successful in trading and investing.