So I’m trading options, and in five years I’ll be making a million dollars a year in income. Sounds easy, right? lol.
Let me provide a little more detail here-
- For every $5,000 in my account, I target to make $100 a week in net profit, on average.
- I will be adding $100 a week in new funds to my account to start, increasing that by $100 each year.
- Everything I make in profit I put back into the account to reinvest.
- I’ll have to take money out of the account at the beginning of each year to pay the taxes on the previous year’s earnings.
That’s it. Using this plan, I will go from making a couple hundred dollars a week in net trading profit, to making over $19,000 a week. And I will do this in less than five years.
That’s quite the growth in income, I know. But there’s two key items here that greatly contribute to it.
The first is that I’m continuosly reinvesting my returns. Everyone knows the power of compounding interest, and this is the same thing. It’s going to give me exponential growth as things progress.
The second is that I’m adding money to the account every week. This will have a bigger impact in the earlier months than later on, but it will give me a little bit of a jump start.
If I stick to the plan, including staying disciplined with my options trading, I should be able to meet my objective.