You've probably seen the hype before "Work at home, make $$$". Your "home" can also be your RV. Many RV folks would love to find a way to "work at home" so they can travel in their RV fulltime. If you've done your homework properly then you've probably found out that 97% of those "work at home" deals are scams to get your money, not make you money. Generally, the scams are something like you have to buy books or join a site or become a member or pay for unaccredited education to learn the "secret" of working at home. Some want to sell you books or tools or seminars or webinars. A dead give away, it's a scam, is when the money they promise you will earn is way out of line. If the money were that great, they wouldn't be begging you come work for them, they would already have plenty of hungry workers.
Basically they are selling you something in exchange for your gullibility. So be super careful when you see those emails and ads that promise you loads of money, to work at home.
There are a few legitimate work at home or work in your RV, jobs. They often require long hard work for minimal pay. If you're talented and can market your talents from home or your RV, then bingo, you've probably found a way to make money that is better than minimal. There really is no pot of gold at the end of the rainbow.
Or is there?
If you like to read, study and do research, then there is one way you might make money at home or in your RV. Notice I said might. You might even make a lot.
Might.
All you need is a computer and internet access. I know this sounds too easy, but actualy it's very hard.
You can teach yourself to become a day trader. The U.S. Securities and Exchange Commission have this to say about day traders:
Day traders rapidly buy and sell stocks throughout the day in the hope that their stocks will continue climbing or falling in value for the seconds to minutes they own the stock, allowing them to lock in quick profits. Day trading is extremely risky and can result in substantial financial losses in a very short period of time.
It sounds like the SEC doesn't want you to be a day trader. But to be fair, they want you to know, it's not a get rich quick scheme. It has worked for some, for others it's been a disaster.
Of course, you don't have to trade, buy and sell immediately, you can hold on to stocks for a very long time, especially if the dividends are paying well, it might be more attractive to keep a stock than to rapidly trade it around.
Either way, you have to do lots of research, reading, and studying, before you get into day trading or trading stocks at all, even for long term growth. If your IRA accounts are paying pitifully, you may wish to take over managing your own IRA or IRA's, in hopes you can do better.
The internet has leveled the playing field considerably. You can often do online trading for a fraction of the costs you used to pay traditional stock brokers who handled transactions for you. It used to be you had to have mega-bucks to enter the stock market. Now you can often open up an online account for $2,000.00 and sometimes even less.
You have to take stock of yourself first. Are you a gambler? Are you ready to devote time to all the research, as well as follow the market and your individually owned stock quotes throughout the day? If you mess up big time, can you afford the loss? This is all part of the gamble. If you are looking for cold hard guaranteed returns, then this is not for you at all. Stick to your FDIC accounts that pay interest.
Even so, despite the volatility, I happen to personally know two day traders, who are managing to make money at their stocks, while working from home. Actually one is in a traditional home, the other is in his RV. Mostly they are glued to their computer and the internet during market hours. In both cases, it's mostly a fulltime job for each person.
I also happen to have a friend who through pure luck managed to make a small fortune in the stock market over the course of one year. He took his profits, closed out his accounts, then put the money in savings accounts. It's a strange way to do things, most folks become almost addicted to stock trading. But like a gambler, his theory was, take the money and run. He wanted to stop while he was ahead so he would have lifetime bragging rights.
Basically they are selling you something in exchange for your gullibility. So be super careful when you see those emails and ads that promise you loads of money, to work at home.
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| I took this rainbow picture in the Virgin Islands a few years ago. |
There are a few legitimate work at home or work in your RV, jobs. They often require long hard work for minimal pay. If you're talented and can market your talents from home or your RV, then bingo, you've probably found a way to make money that is better than minimal. There really is no pot of gold at the end of the rainbow.
Or is there?
If you like to read, study and do research, then there is one way you might make money at home or in your RV. Notice I said might. You might even make a lot.
Might.
All you need is a computer and internet access. I know this sounds too easy, but actualy it's very hard.
You can teach yourself to become a day trader. The U.S. Securities and Exchange Commission have this to say about day traders:
Day traders rapidly buy and sell stocks throughout the day in the hope that their stocks will continue climbing or falling in value for the seconds to minutes they own the stock, allowing them to lock in quick profits. Day trading is extremely risky and can result in substantial financial losses in a very short period of time.
It sounds like the SEC doesn't want you to be a day trader. But to be fair, they want you to know, it's not a get rich quick scheme. It has worked for some, for others it's been a disaster.
Of course, you don't have to trade, buy and sell immediately, you can hold on to stocks for a very long time, especially if the dividends are paying well, it might be more attractive to keep a stock than to rapidly trade it around.
Either way, you have to do lots of research, reading, and studying, before you get into day trading or trading stocks at all, even for long term growth. If your IRA accounts are paying pitifully, you may wish to take over managing your own IRA or IRA's, in hopes you can do better.
The internet has leveled the playing field considerably. You can often do online trading for a fraction of the costs you used to pay traditional stock brokers who handled transactions for you. It used to be you had to have mega-bucks to enter the stock market. Now you can often open up an online account for $2,000.00 and sometimes even less.
You have to take stock of yourself first. Are you a gambler? Are you ready to devote time to all the research, as well as follow the market and your individually owned stock quotes throughout the day? If you mess up big time, can you afford the loss? This is all part of the gamble. If you are looking for cold hard guaranteed returns, then this is not for you at all. Stick to your FDIC accounts that pay interest.
Even so, despite the volatility, I happen to personally know two day traders, who are managing to make money at their stocks, while working from home. Actually one is in a traditional home, the other is in his RV. Mostly they are glued to their computer and the internet during market hours. In both cases, it's mostly a fulltime job for each person.
I also happen to have a friend who through pure luck managed to make a small fortune in the stock market over the course of one year. He took his profits, closed out his accounts, then put the money in savings accounts. It's a strange way to do things, most folks become almost addicted to stock trading. But like a gambler, his theory was, take the money and run. He wanted to stop while he was ahead so he would have lifetime bragging rights.
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I have done some consulting work from the motorhome, but gave it up because it was a growing demand for my time and I was just not willing to give it more time.
ReplyDeleteI have a friend that does stock trading using the one of the internet trading organizations and he has done well. Not a day trader, but close. I have been thinking about that, but again it is a time issue.