Can Shirley Trade Forex?

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Can Shirley Trade Forex?


This is an overly simplified example.
While this segment gives you a general idea about wealth management, I HIGHLY recommend that you take a financial therapy session so that we can plan your financial future.
I teach wealth management classes in universities in New York… and my students are better off financially because of it.

Shirley Should Probably Avoid Trading Forex

Should Shirley consider forex trading to earn some extra cash? The answer is no. Here is why.

Shirley and her husband, Richard, are both retired and enjoy taking care of their grandchildren during the day. They lost a large portion of their savings during a financial crisis, and they have about $70,000 left in their bank account. Including withdrawals from their 401(k)s their annual household income is about $20,000. Fortunately they have no debt, but they are hoping to buy a larger house soon so that they can fit all their children and grandchildren during the holidays. Tables 18-3 and 18-4 give their monthly expenses.

Average Essential Monthly Expenses





Utilities, fuel, and public services


Housekeeping supplies



$0—Medicare paid by government


Average Extra Monthly Expenses

Eating out




Apparel and services


Beauty care


Alcoholic beverages








Monthly income = $1,600

Essential + extra monthly expenditures = $1,600

Monthly income = monthly expenditures

Is she eligible to invest?


Should Shirley invest part of their savings in forex? 


They want to buy a larger house, so the profit that they can take from trading forex can’t really help and is way too risky for them.
However if they are looking to raise capital and save for a house down payment, there are other methods of investing they can choose.
Get on the waiting list for our Wealth Management course to learn how to calculate your risk tolerance.