Can Shirley Trade Forex?

Attention:

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

Groceries	$340
Housing	$450
Utilities, fuel, and public services	$200
Housekeeping supplies	$150
Healthcare	$0—Medicare paid by government
Total	$1,140

Average Extra Monthly Expenses

Eating out	$150
Entertainment	$40
Apparel and services	$175
Beauty care	$10
Alcoholic beverages	$20
Vacation	$40
Gifts	$25
Total	$460

Monthly income = $1,600

Essential + extra monthly expenditures = $1,600

Monthly income = monthly expenditures

Is she eligible to invest?

Maybe.

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.

**月平均の必要経費**
食料品	$340
家賃	$450
公共料金、燃料、および公共サービス	$200
家庭用品	$150
保険・病院	$0 – 医療保険は政府によって支払われています
合計	$1,140

**月平均のその他の雑費**
外食	$150
娯楽	$40
衣類とサービス	$175
美容	$0
お酒	$20
休暇	$40
ギフト	$25
合計	$460

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