Tara from MN

[taramj22]

HI guys...

I'm new to this forum. I like the idea of retireing early. I'm 29, I work as an RN on a cardiac surgical ICU, and this fall I will be heading back to school to become a Nurse Anesthetist. It's hopefully going to be my "fall back"...

I currently have a 403B and a Roth IRA. I recently took my Roth IRA out of mutual funds and am investing it in the forex markets. I've made around a 50% return in just less than 5 months so I'm doing MUCH better than I was in the mutual funds!

Anyway - I'm looking forward to hopefully being able to retire early! Looking forward to getting to know you.

Oh...my goal for retirement is 45....but I will retire earlier if possible

[HFWR]

Quote:

Originally Posted by taramj22 HI guys... I'm new to this forum. I like the idea of retireing early. I'm 29, I work as an RN on a cardiac surgical ICU, and this fall I will be heading back to school to become a Nurse Anesthetist. It's hopefully going to be my "fall back"... I currently have a 403B and a Roth IRA. I recently took my Roth IRA out of mutual funds and am investing it in the forex markets. I've made around a 50% return in just less than 5 months so I'm doing MUCH better than I was in the mutual funds! Anyway - I'm looking forward to hopefully being able to retire early! Looking forward to getting to know you. Oh...my goal for retirement is 45....but I will retire earlier if possible

Welcome to the forum!

My only comment regarding your investment choice is that you've increased your risk as well as your return. As long as you're aware of and comfortable with this increased risk, it's all good.

HFWR, who owns nothing but a diversified mix of index funds/ETFs

[taramj22]

Thanks. Yep, I know I've increased my risk.

We've kept my husbands Roth IRA in mutual funds and I still have my 403B to fall back on.

Hopefully it all works out. I believe in diversifying -- (not keeping all my eggs in one basket)....while forex is riskier...the profit potential is also much higher. However, with utilizing a hedging strategy, I have also been able to minimize my risk in the forex markets as well. And, it only takes me about 20 minutes per week to manage my portfolio.

I'm looking forward to learning more about what everyone else is doing to make it to "early retirement" - hopefully we can learn from each other.

:Cheers:

[Webzter]

Weird. Many years ago I dated a Tara who was graduating as an RN.

What forex platform do you use? I've always been intrigued by the market but never felt the push to want to start speculating there.

[taramj22]

Hmmmm....nope...it wasn't me I was already married when I graduated.

I use interbank fx for my forex broker, they use the metatrader 4 platform.

As far as the system I use. I'll PM you....I don't want to break any forum rules here....just want to read about and learn more about "early retirement"

[Webzter]

Quote:

Originally Posted by taramj22 Thanks. Yep, I know I've increased my risk. We've kept my husbands Roth IRA in mutual funds and I still have my 403B to fall back on. Hopefully it all works out. I believe in diversifying -- (not keeping all my eggs in one basket)....while forex is riskier...the profit potential is also much higher. However, with utilizing a hedging strategy, I have also been able to minimize my risk in the forex markets as well. And, it only takes me about 20 minutes per week to manage my portfolio.

It sounds like you understand risk well enough. I guess the two fundamental things that I keep trying to learn and internalize are:

- Know why you're in an investment.
- Understand if you're being properly rewarded for your risk.

Obviously, the reason for forex's huge returns are because of it's volatility and the trader's ability to leverage. That also translates to a great way to lose one's shirt as well. Just like trading in the stock market, it's possible to reduce risk, and, by extension, reward, by combining trading techniques (trading both sides of a currency, combining a spot trade with an option, whatever).

However, the most important thing to remember is that you're still leveraging a lot. Personally, I'd be hesitant wagering more than a 'mad money' part of my portfolio and I'd probably stay disciplined about moving profits out to diversify. Then again, I know I'm not the next Soros and you very well could be.

Just remember, it only takes a 50% loss to wipe out a 100% gain.

p.s. Welcome to the board!

p.p.s. My personal path to early retirement is to live well below my means and work like a dog until then. Not the most intelligent path, but I'm playing to my strengths.

[taramj22]

LOL.....I'd LOVE to live well below my means, but unfortunately my husband doesn't understand the concept!!!!

I'm big into trying to get out of debt....have a 4 year plan and would/will (hopefully) have everything, including mortgage paid off....BUT, my husband seems to think he needs every little thing that comes out on the market and he thinks the kids all need the next coolest thing too! Yeah...our ideas on debt and money management are TOTALLY different, so unfortunately I have to find new "inventive" ways on making money....just so I can keep up with all HIS expenditures!

Good thing I'm goal oriented!

Risk vs Reward in the forex market....I completely agree...it's not for the faint of heart. There is risk....but I believe no riskier than the stock market....in both you can lose your shirt if you don't know what you are doing. Personally I have "dabled" in forex for a few years...but never took the plunge until a few months ago. I've been following a system that's been around for a couple years just to see how they've done....and it has been working so I hopped aboard. I completely understand that past performance is no indication of future performance (ya da ya da)....and I didn't put in more than I can afford to lose....(VERY IMPORTANT)....and I take about 1/2 of my profits out at a time....so if I make 50% in three months...I take 25% out....and so on. That way I am still compounding but still profiting (and enjoying those profits...LOL). So I think I have a pretty sound strategy...but if I end up losing my shirt...well, it was just "play" money anyway.

Life is for Living....Not Working! So while your strategy is a sound one...what are you missing until then?? I don't know how old your kids are (or if you have any)....but don't miss out on a good vacation once in a while cause you are so focused on saving for early retirement. We could all die tomorrow....why waste every moment working on something that may never be? Just another thought.

[Medit8]

Hi Tara,

Got to say you sound like you have it well figured out. Reason it has taken me this long (44 now, 47 to "10-4, over and out") is that I enjoyed my nice vacations etc, along the the way. My goal early in life (roughly your age) was to get out by 45. I am very happy now to know I can jump tomorrow, but also knowing that staying on for another 3 years gets me where I will be past worrying about the financial aspect of retireing. As you said, life's sometimes too short to shortchange yourself of experiences that you can afford while "indentured".