WWYD: Share Your Opinion

[johnnycakes78704 10]

Hello there! It's been a while since I've posted, but I've got a question and can hopefully get some informed opinions on my question.

 

In 2008, after being in a new part of the country for just about a year, I landed a job at a pretty good firm, or so I thought. The firm did not provide a salary for new advisors but assured me that with the leads I'd generated during my training, that would provide a little bit of income.

 

However, given the market crash(es), and my low natural market, I was unable to provide for my family, using up some of the resources I'd saved over the past 8 years of trading. I acquired my series 7 and 66, but had to leave the firm seeing as how I was bleeding money for potential client events/lunches/etc and would soon overreach myself to the detriment of my family.

 

I left the firm towards the end of 09 and have spent the past year in a salary job out of the financial arena while restoring my savings, getting married, and saving to buy a new home. I'll soon be a position where I'll be able to enter the game again, but I'm on the fence as to what capacity.

 

One idea I've been floating is to become an independent advisor, owning my own business. It wouldn't be the first time I've owned my own business and have done research into what it takes to open an RIA for trading/investing. This would allow me to keep my Series 7 and 66 active and not be a waste of money. I've been talking with people since leaving the business and positioning myself as the expert while not providing advice in any professional or personal capacity.

 

Second is to go back to day/swing trading and use that as a method to remain in the traders world.

 

Thirdly, I could take a job at another firm and again rely on their payment methods, etc. to be able to provide for me and my family.

 

Is there an option I'm overlooking? What is your opinion? I'm personally leaning towards either opening my own RIA or not worry about retaining my licenses and just getting back into day/swing trading.

[SIUYA 11]

the resources I'd saved over the past 8 years of trading.

 

if you made money trading and were able to spend and save over that period.... sounds like you are in the 5%.

if its economically viable it sounds like you should stick to trading...... i dont know the US rules but surely you can combine, advising and trading, that way you can diversify the income enough to decide down the track.