Oops, sorry guys I forgot to mention that I live in a SE Asian country where although taxes are low (abt 10+% personal income tax), wages are low too. The average guy earns about US$12,000 a year and thats consider "good salary". Our high earners take home US$24,000-US$36,000 a year and those are considered very well to do. CEOs, Private Doctors gets about US$60,000-US$72,000 a year. (these get taxed abt 20+%) So when I see US$75,000 a year I was like...WOOT! Until kubilai kindly reminded me of the taxes US dudes get. How much are you guys paying in taxes anyway?
that explains it in all seriousness though that is very interesting, since trading removes the salary boundaries by region (1 ES point earned is the same $$ no matter where you live) practically you wouldn't need very much from the market to replace a good salary... and it's not just taxes, also living costs are much much higher $750,000 even in after-tax savings is barely enough for retirement I'm jealous
Ah, that explains it. At $75k salary, the income taxes in the US is about 20% too, payroll taxes (social security) are about 10%. Cost of living is much higher than SE Asia. So at the end of year, you're doing great if you can save up $10-20k grubstake. Hardly enough to retire on hehe.
regardless of taxes, 75K a year is nothing, do most profitable successful traders on this site make less then $75k a year?
icarus618 seems like a disgruntled trader who has been forced out of the business and lives vicariously through these post to tell people he is still in the business or your a super trader that has made money from day one without any of the setbacks that 100% of traders go through......if thats the case why do you have over 500 posts? And none offering advice....