How much income do you need from trading?

So how much trading income would mean a substantial improvement in quality of life? Myself I find that if I can match the income lost through taxes, my quality of life and financial flexibility increase substantially (though I am not trying to be political). Maybe for some people a system that pays the mortgage, or insurance, or other obligations is a better fit than trying to trade for a sole income. Thoughts?

 

There is only different classes of poverty my friend. When I was 14 I remeber I would think to myself how can I earn just an extra $100 a month. Have less wants and you will wonder where all this extra money is coming from

 

Enough income is absolutely never enough income.

However, if you can make enough to pay all the unavoidable non-discretionary bills, that's a huge step towards a happy life.

 

True! income is never enough.

 

$1000 extra per month on top of my business makes for a comfortable fun life for me, $2200 if I've got no work on.

I need $1500 for basic life stuff per month I reckon all in, business and trading.

I'd like $5000 per month don't get me wrong, that's the goal.

 

This is how happiness (quality of life) changes when making more money.

To know what makes you happy you should first make lots of money, so most people will never know how much they need to be happy.

To know if you like donuts you should first eat them to know how they taste.

 

I like this. Maybe we all day-dream about having many cars and houses in different countries, and fast boats. But how do you keep track of all those keys? Imagine how peeved it would feel to land up at your Gold Coast beach-side bungalow and then find your Ferrari keys are still back in Dubai and anyway your driving licence is in Mayfair......

 

When I was 18, I hiked the Appalachian Trail -- 6 months of getting excited about finding clean water, doing 25-mile days by noon because the town's Pizza Hut had an all-you-can-eat lunchtime buffet, and learning how to live with one set of clothes while humping up and down mountains in the sun, heat, cold rain & snow. That warped me:
-- live below your means.
-- pay yourself first.
-- function works; fashion fades.
-- buy quality once, bank the rest.
and then,
"Use it up; wear it out; make it do; or do without."

You guys posting things like "you can never have enough"????
Have obviously had too much, for too long.

And, just to go too far....

 

"Income objective", not the best.

What you SHOULD be striving for... learn to trade the markets WELL. If you can do that, you can make HUGE sums over time.

You don't have to "get rich quickly". In fact you're highly unlikely to do so.

But if you learn to trade well, you can become "financially substantial" fairly quickly.

"Rich" after that, if you care to.