The full story behind how Jim makes his trades is right here. In fact, safety-loving Warren Buffett pulled in $4.7 billion following this exact approach not too long ago. It’s an easy, step-by-step process that takes just 9 minutes to per week.īest of all, unlike many risky approaches to making money, there’s a built-in safety net unique to his strategy that can make it safer than traditional investing. Now, years later, Jim trades full-time-and lets independent-minded investors follow the exact approach he’s now perfected. His nest egg began to grow exponentially, and before long he had turned a mere $50,000 into a massive $5.3 million. So Jim started experimenting with the approach he learned…īefore long he was generating extra monthly income like $1,200, $1,800, and $2,100… and all in a matter of weeks! ![]() One day he ran into a “trader” who shared an approach that would go on to change Jim’s life forever. Luckily Jim worked at an office building in Chicago, close to the financial district. The piddly returns he was making that way seemed like a waste of time. He had a good job, was squirreling away money in his IRA, and investing in stocks-but wasn’t really getting anywhere. It’s a similar problem a lot of Americans are dealing with as they approach retirement. Years ago, Jim Fink knew he’d need to make a change if he was ever going to retire. Not bad.One Man’s 9-Minute Secret to Retiring Rich He also claims that out of all the trades recommended in Personal Finance, 85 will make money. you are briefly exposed to very high concentrations (more than 1 million. Fink claims to have turned 50,000 into 5.3 million. Assuming you're achieving the average 10% gain the S&P 500 produces and reinvesting those gains in the same fund, you'll be sitting on a stash worth something on the order of $660,000. hydrogen sulfide is primarily converted to sulfate and is excreted in the urine. Let's say you don't have any major cash hoard right now, but can scrape together an extra $3,000 every year for the next 32 years. Here's an alternative scenario that may be more applicable to you. Those principles are, use the money you do have (or can come up with) as soon as you can, and be in the market for as long as you can. The underlying principles remain the same no matter how much or how little money you have, or how little time you have left until you reach your planned retirement. The other catch is, you may not have 32 years left until you retire. One of them is, you may not have $50,000 at your disposal right now to deposit into a retirement account. There's clearly a "catch" - two of them, actually. Chart by author.Īnd to be clear, this million-dollar portfolio was founded only on a one-time investment of $50,000. Finally, let's say you're growing your nest egg in a tax-free account like an IRA or an annuity.ĭata source:. Jim also serves as an investment analyst at Investing Daily’s flagship investing publication, Personal Finance. ![]() He has traded options for more than 20 years and generated personal profits of more than 5 million. Second, let's assume the S&P 500 continues to dish out - on average - total gains of around 10% per year that you reinvest in the same fund. Jim Fink is chief investment strategist for Investing Daily’s Options for Income and Velocity Trader services. ![]() The first of these is, you'll be investing $50,000 into the broad market using an index fund like the SPDR S&P 500 ETF Trust ( SPY 0.39%), which is meant to mirror the performance of the S&P 500 index ( ^GSPC 0.36%). But first things first.įor the purposes of this exercise I'm going to make three key assumptions. I'll even show you the math, in pictures. A modest $50,000 now could easily get you to $1 million in less than a lifetime. In this case, "smart" just means getting into the market and leaving your investments alone for as long as you can. The key is using all the time you have, and doing smart things with your seed money. The thing is, a seven-figure stash actually isn't out of reach for most of us. Nevertheless, a $1 million retirement nest egg would be a great source of comfort for most working-class Americans. There is a plethora of discounts on the TSX in this turbulent environment, so readers should. Census Bureau estimates that about one out of every 10 people living in the U.S. Today, I want to zero in on three stocks that have the potential to turn 5,000 into 50,000 by 2030. ![]() There's no denying $1 million isn't the head-turning measure of wealth it used to be.
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