I prefer everyone to perform these types of trades within an IRA, so you don’t have to worry about taxes on the profits you make. Because wash rules of the tax code could effect you on claiming any losses on your trades. Remember please consult your tax professional on trading investments outside your IRA’s.
In this video, We start with 25k and invest $500 each month, then create over $1.4 million dollars in 10 years. (See 20:40 – 20:49) Not Just $1,000,000. Please paper trade until you understand the concept before investing with real money. Please feel free to follow along by clicking the subscribe Button and give this video thumbs up.
Keep in mind, markets can change and folks can lose money. Please read all my disclosures below and thank you for watching. We’ll see how this proof of concept works out and place information in the remarks section of different stocks you think I should add to my profile. In, August we’ll start a 50k profile as well and that will focus on index funds covered calls.
Money Journey with Sonny and affiliates and related parties do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.