I agree ... if getting health insurance is the reason for getting another job, then trading is more or less a hobby for you.
Giles - sorry, but if you are saying that a $217/month expense is a reason to have another job in addition to your trading hobby, that would imply that you are not treating trading like a business.
Nah I was adding my response to the post that was prior to mine. He listed his insurance cost, I listed my insurance cost. Plain and Simple. I make money Trading and I make Money Touring/Gigging. Both are fun, and I wouldnt give up one to JUST do the other. When you have traveled the world making people feel good, how can you abandon it to sit in front of computer screens all day??? You cant. You do both cuz you LOVE both. Trading doesnt give me the satisfaction that Mixing a Live show does and vice versa. Soon as the show is over, I am right back at it studying charts, screening for stocks and planning strategies for the ever changing markets. I love em both. So I have a day job (trading) and a night job (music) and both give me the JOY that a former and current Workaholic enjoys along with the freedom to chart my own course. BTW I NEED to do both. after all my doctor said I had ADD. LOL.... Whatever.........
Understandable that music is a passion of yours and more power to you. Personally I don't find STOCKING GROCERY STORE SHELVES all that entertaining, enjoyable or anything that I would want to participate in at all. There's a difference in having to do something and doing things that you enjoy. Trading allows me to do the things I enjoy doing. I don't have to do things I don't enjoy doing in order to trade. Big difference there. CONSISTANT PROFITABILITY makes all the difference.
On an odd note. LOL. I was a grocery Bag Boy, Pop Aisle Stocker when I was younger. Honestly I had a ton of fun in that Job. It wasn't so much the work as it was the interaction with the customers. I used to put on a show when I bagged groceries (sorta reminiscent of the movie Employee of the Month) The little money I collected from bagging was put into my music career (at the time I was a DJ) So I bought Tables and Albums and on the weekends I'd go mix House Parties and Skating Parties.... Didnt pay Alot, but It was fun. Heck I even delivered Pizza Because I enjoyed the people. (Ok, I was a major flirt and some of the babes were HOT!!!) LOL. Not everything we do is for the money. Some things are for fun. I am not speaking on the authors behalf, he sounds like he needs the money. I pay for health care and havnt been to the doctor since I picked up a parasite back in 1998 when I went to the Carribean Islands (got so thirsty I drank the water... OOOPS!!!!) Personally my family is a bunch of Vegetarians and we don't get sick. I keep health care for Major accidents like you're putting up drywall and it falls on you....Or you cut off a finger with the BandSaw. LOL. Just me yapping.
Move to the west coast and you can trade the first 90 mins before a regular job, and the close at lunch. When I was at Bright there were a few guys doing this. They would just walk from the trading office to whatever they did for salary, and then back again noon to 1:00. They worked in the finacial district of SF so this was an easy thing to do. Its very compact there.
Just started Monday 3/5/07 part-time (20 hrs per week) at local CBS affiliate TV station as Studio Operator... the next time you see a picture of GW when the news story is about some local 3-alarm fire, that would be my doing! Very cool and interesting for part time. For the record, I decided to get a PT job for 3 reasons 1) I had the time 2) extra $ doesn't hurt, even if its only enough to fill up the second freezer once a month. 3) The biggie... tax purposes. Since tax (including SE, aka FICA) is taken out, using traditional IRAs, deduct 1:1 up to $8K trading profits. Because the tax on the 8K has been paid, that's another 3.5K or so that isn't paid out of pocket. Not too bad until I trade as an entity. Of course, your mileage will vary. See your accountant for details. Osorico EDIT: Actually, I trade as an entity now. GP (husband and wife). Above, what I meant to say is a true business entity that offers some protection and perks.