In the game “Venture Backward”, the developers suggest that trading for a living would require you to be in high-paying jobs that pay more than minimum wage (typically around $50,000 a year). In the real world, however, the minimum amount of money a person might be willing to work for is far less than $50,000.
Anecdotally, I have known people who have worked in “low-level retail” or “low-level construction” work that would happily be hired by anyone willing to pay their salary, and who even went so far as to accept less than the minimum wages of people in these positions.
In my own experience, a lot of people who try to get work with me take a much lower salary than what I’m willing to pay (I’m willing to pay $60,000 to $70,000 for a “part-time” job, just so that I will have some income, but I also like to travel and see some places.)
I have no idea whether trading for a living would actually be possible (I’m thinking about starting a business someday, not trading), but I do think a lot of people would love to do it and would be willing to live very cheaply if it were.
Anecdotally, many people have tried it in the past and had successful careers. I recently found a guy who made enough money by trading for something to be able to afford to live alone in a house in the San Francisco Bay Area.
So I think that is really important, and I think most people, given at least this little tip, would love to try trading for a living in exchange for living cheaply. (Yes, that’s what we call “cheap”! I was not talking about “cheaper”, but “cheap living”). However, I don’t know whether people would actually be willing to try it (or even whether there would be any jobs available).
I think it would be really interesting to try it, to see how many people would actually be willing to trade for a living.
I don’t know whether that’s an appropriate topic for a blog post (which is why there’s no blog post), but let me know!
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