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Why Im here

Post by bxa121 on Fri Oct 17, 2008 2:47 pm

I'm BXA121, recently joined the forum.
8-)
Have been having thoughts on how to improve my self through success( not financially, although this is a big component) My aim is to achieve financial independence - that is to say, in 20 - 30 years time, i don't want to be working ( or i can work when i feel like it) and still maintain a $50,000 annual income.

How do I wanna do this

1. Investments - Stock trading, options and forex using delta positions and LEAPs. Diversifying thought bonds, equities or different varieties, alternative investments (art, precious metals, etc) - to maintain an even keel

2. Tax reduction strategies - moving my money ( or shipping cash) to offshore banks to maintain tax relief

3. Entrepreneurial ideas - these aren't solidified - wanna get the above sorted first. wish to establish an e-business that i can use to supplement income but doesn't require me to be fully hands on in the business ( automated or minimal hands-on approach)

My question is do the above ideas and approaches seem like the best way forward
Any ideas will be welcome

BXA121
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Re: Why Im here

Post by maxdog on Sat Oct 18, 2008 11:30 am

Welcome, good to see you have already detailed plans for your future
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Re: Why Im here

Post by sky on Sat Oct 18, 2008 1:39 pm

Good to have you here BXA121.
The ideas seem very good (especially the 3rd one).
:D
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Re: Why Im here

Post by bxa121 on Sat Oct 18, 2008 4:29 pm

Thanks for the reply guys - its good to know my ideas seem viable - im 24 right now - i earn around 3k plus a monthly- but could easily putout about 7k a month ( at a loss to free time on weekends and some evenings) - but this sound like me diving into the rat race before trying to get out of it!

ill keep you guys posted about my progress soon...

ive already contacted a financial advisor to get some ideas about how viable my plans are ( all seem good) - of course ill buy financial products myself instead of losing cash to overpriced commission.

ill keep you posted.
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