Millionaire Journey Update
VTSAX Millionaire Journey #11: $104,782.27
For those who read my blog regularly it should be no surprise to you that I get a lot of emails. This past month I got an email from a gentlemen who told me he thought he got scammed while trying to buy a package with one of the trading gurus.
I discovered he did.
Here is what happened. This guy was caught up in the emotional moment of deciding on which direction to start to learn how to trade. He was taking all the necessary steps to start to join and then got an email from someone claiming to be the same person he was researching. Due to his euphoria and excitement he didn’t realize they were actually steering him into a scam and not the guru’s educational chatroom.
He ended up losing about $1000.
When he emailed me I told him even though I was upset to hear that he got scammed he actually might have saved himself a fortune in the long run by reaching out to me.
Some trading gurus and chatrooms are very expensive and some don’t actually trade. With that said, 95% of traders actually lose money and 80% of day traders quit within 2 years. Those numbers alone should be a red flag.
That is why I only recommend Investors Underground. I have found that their educational system is really comprehensive and very informative as well as cost effective.
You can end up saving a fortune just by going the IU route and leaving all the other guru’s alone.
To be clear I do receive a commission from IU from those who purchase products or services from my website but you pay nothing more. And, I could get a commission from anyone of the trading gurus on the planet if I wanted because I get enough traffic on my blog to guarantee it.
However, I don’t just care about commission and that is why I chose IU as one of my recommendations. I truly believe in them and I am a member who can be found in chat every single day.
Feel free to say hi to me if you are in there too.
Ok so the point is. BE CAREFUL if you are purchasing a product from someone. Make sure their email address isn’t from gmail or they are asking for a wire transfer. Everything should be on the up and up or you should run for the hills.
Let’s move on.
Anyway, I had an amazing blogging month and I booked a video gig from one of my photography clients. Hopefully that will spark an interest in others to hire me for video work as well. Here is a video I did with my wife and kids for the Doritos Crash the Superbowl contest 2 years ago.
I didn’t win.
Moving along… My trading wasn’t bad either in November. In fact my biggest gains are coming from some January VXX puts I am riding. Friday they didn’t look so hot but today they are doing great because of the progress of the tax reform bill.
Unfortunately I wasn’t able to add much money to my VTSAX position this last go around. Part of it is because of the holidays and the other part is that the market is up so much.
I do my best to control fear and greed but nobody can deny that those 2 feelings will always be present during times like this. When the money seems to be rolling in everyone gets hungry for more money. The problem is when everyone is doing the same thing the market can get ugly once it turns around.
So, always pay yourself along the way.
And now the numbers for this month.
I was able to add in $1,755.67 to my VTSAX position for the ending month of November. That number is a combination of photography, blogging income, trading, dividends, capital gains and option money.
There is now a $13,066.34 investment return since January 10th 2017.
To wrap things up my Vanguard Total Stock Market Index Fund total is now $104,782.27.
If you need to reach out to me for any reason please do so here.
Until next month.