This Is My Ultimate Financial Master Plan!
In-depth financial planning.
TL;DR
- Forex Prop Firm Trading
- Options Trading (Wheel Strategy)
- General Investing (Bonds, T-bills)
- Side Business
Disclaimer: I am not a financial advisor. The content for this article is purely for educational/research purposes only and is merely based on my personal opinions.
Please note: There will be affiliate links in this article. But it will only benefit both of us. If you do not wish to participate under my affiliate links, please feel free to Google them separately. Cheers!
I really dislike the constraints of a 9–6 job and the slow progression of climbing the corporate ladder. I’m determined to find a way out of this career path. However, it’s proving to be more challenging than I anticipated. Despite dedicating a significant amount of time to my side hustle, the income generated hasn’t been substantial enough to replace my job. This has made me realize the importance of thorough financial planning to achieve my goal. Here are some ways I am focusing on so that in future I will be able to get out of the 9–6 job.
Forex Prop Firm Trading
It took me four years to develop a solid trading strategy and start seeing some income from my side hustle. However, the income generated is not substantial; it’s barely enough to buy a cup of coffee. Despite this disappointment, I believe that forex trading has the greatest potential among all my side hustles to be successful and eventually allow me to break free from the 9–6 job.
I’m currently trading with The5ers prop firm, mainly due to their attractive scaling plan. If I perform well, I could potentially receive up to $4 million in funding and a stable monthly salary of $10,000. This is my primary motivation for continuing to trade forex, and I hope to achieve these milestones soon. The idea of receiving income even on challenging trading days is incredibly appealing, as it would make the trading experience much more relaxing.
Additionally, I’m not using any of my capital to trade. I’ve already earned back the challenge fees I initially paid when I started trading with the prop firm. As a result, my trading is technically risk-free! Any profit I earn is pure profit/income.
If you are interested in trading with a prop firm, please check out the5ers and their attractive package http://the5ers.com/?ref=42234
Options Trading (Wheel Strategy)
In hindsight, I regret not starting options trading earlier. It has turned out to be one of my most successful side hustles, as I began earning from day one. To date, I’ve earned around $1500 from options trading. One of the things I appreciate about options trading is its relative simplicity to learn. Unlike forex trading, options trading primarily revolves around standard strategies like the Wheel and credit spread strategy.
However, I do not think there are any prop firms that allow options trading. If you happen to know, please feel free to comment down below and let me know!
I’m currently exclusively using my capital to trade options, specifically employing the Wheel Strategy to earn additional premiums by selling put and covered call options. While options trading carries inherent risks, such as the possibility of buying stock at a high price only to see its value decline over time, I’m focused on managing these risks through careful strategy and analysis.
To achieve financial freedom from a 9–6 job, I estimate that I would need around $200,000 in capital to generate substantial income from selling put and covered call options. While I recognize that I still have a long way to go to reach this target, I am dedicated to continuing my trading efforts and steadily building my capital.
The platform I am using is Webull! Collect your free tesla stock by signing up with me: https://www.webull.com.sg/s/uIYk9ExGNCak4JHZvL
General Investing (Bonds, T-bills)
I allocate a portion of my funds to government bonds and Treasury bills (T-bills) as a way to mitigate risk, especially considering the high-risk nature of forex and options trading. While the yield from these investments may not be the highest, the extremely low risk is more affordable for most individuals. Bonds and T-bills also serve as a hedge against inflation. Instead of letting my money sit idle in the bank, I’ve chosen to invest in bonds and T-bills to generate additional side income in the short term, which I can use for other expenses when needed.
Other Side Hustle
Other than focusing on trading, I’m also involved in other side hustles in different industries.
E-commerce business
I am planning to start an E-commerce business that sells Facial tissues and pocket tissues. I will source products from China and sell them online platforms like Shopee, Lazada, Qoo10 and Amazon.
Blogging
I’m earning a modest income by writing blog posts on Medium, though it’s not yet substantial. I believe that as I gain more followers, my earnings will increase over time.
Signal Newsletter
I’ve recently launched a Gold Trading Signal Email Newsletter, inviting other traders to join me in trading. While I’m just starting out and there are areas for improvement, I’m excited about the opportunity to trade and earn together!
Endnotes
These are some of the side hustles and projects I am working on! The ultimate goal is that hopefully one of the side hustles can earn more than the current 9–6 job and replace them fully. Although, as of right the income is not substantial enough, I am hopeful that maybe of it may bring success in the future!
Affiliate Links / Connect With Me
- Connect with me on Linkedin
- Read my blog post on Medium or Blog
- Best Charting Tool: TradingView SuperChart
- Thank you for Buying Me A Coffee:)
- Useless fun fact Youtube Channel
- The prop firm I am using: the5ers Prop Firm
- Collect Free Stock from Webull
- Join my trade Signal Group HERE
