Can These Women Trade Forex?(Bonus)

Lily: Mom of two


Jul.20.2013

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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.
Meet Lily. She is a stay-at-home mom with two boys, 11 and 15 years of age. Her husband, Tom, is the breadwinner, and their annual after-tax household income is $80,000.That gives them a monthly income of about $6,600. They have both paid off their college loans, and they have no debt. Tables 18-1 and 18-2 give their household expense, divided into two categories: essentials and extras.

Average Essential Monthly Expenses

Groceries

$1,000

Housing

$1,200

Vehicle

$200

Utilities, fuel, and public services

$390

Housekeeping supplies

$150

Healthcare

$185

Education

$50

Total

$3,175

Average Extra Monthly Expenses

Eating out

$400

Entertainment

$50

Apparel and services

$400

Beauty care

$40

Alcoholic beverages

$50

Reading

$30

Vacation

$500

Gifts

$50

Total

$1,520

Total monthly expenses = $4,695.

Monthly income > monthly expenses

Lily’s total monthly average household expenses are about $2,000 less than her household’s monthly income.

Is she eligible to invest?

YES

Is forex trading the right choice for her?

Depends on her risk tolerance.

She can save some extra cash by following the Invest Diva saving tips.
Her family’s gross monthly savings are $2,500. She could consider investing 30 percent of their monthly savings in the forex market after gaining her Forex Diva title. That is $600 per month*.
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*Get on the waiting list for our Wealth Management course to learn how to calculate your risk tolerance.
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