Options Trading: How much is enough?
There is this TV show called, Billionaires.
It’s a Showtime show but they had the first episode On Demand.
The show is about a guy who runs the most powerful hedge fund and his fight with the US District Attorney.
In one scene both are face to face and the DA threatens the guy with legal action.
His response stuck with me.
“What’s the point of F You money if you never say F You?”
In case you have never heard the term, F You money is basically having enough money to do what you want.
- To be able to quit your job
- To make your own rules
- To live the good life.
The idea is sexy, but I think it misses the point.
I don’t want F You money, I want F You Income.
Sure you need some money to have the income, but if all you have a huge pile of cash and no idea how to make it grow or protect it, eventually that cash is going to be gone.
Back when I first started trading, I had my goal: $5,000 a month
That was my F You Income goal. If I could make that, it meant I would not have to go back to the work force.
Now My F U Income goal is a little higher. $15,000 a month.
That covers our monthly expenses and leaves enough for savings, fun, and sharing with others.
By keeping my income goal low, I get plenty of time to do whatever I want.
And to me, that is what life is about: not the things we buy or the size of the bank account, but the experiences, the memories, the difference we make for others.
Sure, if I wanted to make millions I probably could. Start a hedge fund and work my tail off, but to me that is not a life I want to live.
Do you agree or not?
What is your F You Income goal? And what are you doing to get there? Please let us know in the comments section below. Be sure check out our previous blog posts for best options selling tips on how to do option trading for a living.
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