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Reply to "What is your "magic number" for retirement?"
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[quote=Anonymous][quote=Anonymous]You people are all crazy with your $10M numbers and such. I know a guy that made $100K last year selling options (covered calls and cash-secured puts) using around $400K of his capital. He was laid off early and decided to look at options to make his money last longer. Now he just lives off the option income and doesn't even touch the other $1 million he had saved. In other words, he retired essentially off $400K, so I hope you $10 million posters *love* your jobs. Otherwise, you're throwing away your life for no reason.[/quote] Options aren't for everyone. And there is huge risk involved if you don't know what you're doing. The 2 people who I know who trade options are former Wall Street traders. The more successful works it full-time. The other, part time, and makes good money but a fraction. She doesn't want to be at the mercy of the screen all day long.[/quote]
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