How do I get a million dollars in my trading account? That’s the financial question Jason asked himself when he was just 20-something years old. We told you to dream big and set big goals when thinking of your financial independence, and Jason Brown is no exception. Who is he? Jason Brown is a stock market guru who has over 10 years experience trading stocks and options. At the age of 23, he took $10,000 and turned it into a six-figure trading account. He’s known for making trades based on technical analysis, rather then emotion. Jason is also the founder of The Brown Report, a company that teaches students how to trade stocks and be financially responsible. In this episode, you’ll hear how Jason lost all his money in the stock market on two separate occasions, how he went from making minimum wage with Sprint to a six figure income with Comcast, and how he eventually left corporate America to start his own independent financial coaching business.
- Jason’s first motivation to enter the stock market came from just hustling to make an extra $50 dollars each week as a college student to have enough money to not work weekends.
- His second motivation came when he lost money with a “professional broker.” After, he purchased $5 shares of Sprint stock and began studying it’s movement patterns. Later, he would turn $10,000 into $100,000.
- Think of traders like weathermen, they study patterns. Opening an online trading account is quick and simple. You can set up a wire transfer from your everyday bank account.
- Only trade within a set of rules that you designate for yourself. You can’t get emotional. Set limits and a structure to follow.
- There are only two ways to make more cash: “spend less or make more.”
- 401k’s are nice for retirement, but they aren’t designed for creating wealth. You can typically only pick from a handful of average funds with 401k’s. With trading, you can pick and choose the stocks that are outperforming the market.
- Remember to humble yourself and cut way back on lifestyle and expenses after an unexpected financial loss.
- Don’t quit your day job until the money from your side hustles supports you, but know that people will pay good money for good advice.
- Set a financial goal for yourself or your family. Jason’s goal is, “for my family to want for nothing.”
- Piggyback off already existing marketplaces when first starting a side hustle. You don’t need a website right away. Use free sites like Craigslist, eBay, Amazon, Upwork, etc. Find a product to sell or a site where you can promote your services.
- When it comes time to hire someone for your side hustle/business, find someone who can duplicate your efforts and results. This will free up your time to focus on other aspects of the business.
Key Takeaway: Start small with your side hustle. Take advantage of existing marketplaces such as Amazon, eBay, Craiglist, Upwork etc. Test the market to see if your services or products are in demand before spending money on a business idea.
Jason Brown Around the Web:
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