Thursday, 3 December 2020

Why I choose to become a forex trader

My main purpose of becoming a FOREX TRADER is to ACHIEVE FINANCIAL FREEDOM

In regard with my career, I have got the the following three options. 

1. GET A JOB. 

This one is, of course, the most common pattern amongst most people. Spend most of time in the office working for somebody from 7am to 8pm inclusive of time that would spend on travelling to work. No time to spend quality time with family except for weekend. Starting monthly salary would be 1.2 million, and might increase to 2 million in long term, if work hard.  

Let's do simple math: I get paid 1,500,000 monthly. 

My monthly expenses: 

  • Home owners association (HOA) fee: ~90,000
  • Electricity: ~80,000 
  • Water: ~50,000 
  • Apartment fee: 70,000
  • Internet: 50,000
  • Food: 300,000
  • Vitamin (omega): 55,000
  • Vitamin (D): 50,000
  • Vitamin (C): 70,000
  • Other: 100,000
  • Kindergarten: 300,000
  • Clothes: 200,000
  • TOTAL = 1,415,000
Of course, we wouldn't buy clothes every month and wouldn't go to hospital on monthly basis. In some months, we could put away some money, let's say 300k in the bank. 
300k*12month*10years=36,000,000.

What if we have got a serious health problem and needs money for treatment. I will have no choice but to use money in the savings dedicated for our children. :(((((

When my children grow up and want to go to university, how to pay their tuition fees. 

With the monthly salary of 1,500,000, I will be unable to provide a good life for my family.
Obviously, this option wouldn't work.

2. CONTINUE EDUCATION AGENCY JOB

My previous family business, education agency, was not bad. Much better than working for someone. I have more free time, and organize my day as I wanted. I earned around 2-3 million monthly. However, I don't see myself doing this business for the rest of my life. Even I do this business, I need to have another source of income. Otherwise, I wouldn't survive. 

3. START ONLINE SHOP 

At this time, online business seems good choice. I buy stuff from China and sell in Mongolia. No need to rent a kiosk in the shopping mall, just deliver items to buyer's place via contract driver. The income from this business is quite similar to working for company. 

Most online business owners double their items. buy an item for 15k and sell it for 30k. If I sell 3 items per day, I will make 45k per day. In a month, 45k*30=1,350,000. Not too bad. 

However, having only this business doesn't seem enough. Because this business can be done by anybody. I could do this business just for additional income. 


These three options gave me no choice but to seek other source of income that would allow me work from home and spend time with my family and travel and achieve financial freedom.



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