After a few years practicing your trading and/or investing skills in the stock market and your friendly and thoughtful brokers haven't review your brokerage account size, trading limit, and commissions; you have not generate enough business for your brokers to warrant their attention to up your game plan! When Uncle8888 seriously began to be active in the stock market in Jan 2000 His buy limit was just $20K and T+3. Buy limit $20K. Where got enough? He called his broker to review this buy limit and adjusted to $50K
Soon $50K also not enough. He called his broker to adjust his buy limit. His broker was happy to adjust to $100K and offered him T+5 to help to make him more money and FIRE sooner.
One day; his broker called to tell him this good news after reviewing his account performance and offered to up his game level. Broker has lowered his commission from 0.275% to 0.22% and up buy limit to $200K and then to $300K when $200K limit was hit several times. Buy limit: $300K, T+5, Commission at 0.22% Huat liao! FIRE soon! That was his thinking in 2007 When the Game is over! What left? Read? CDP - No more printed copy. Now it is History!
The moral of the story: Never under-estimate the greed in us when we are winning big and on the way to FIRE faster!
Last updated : 15 Sep 2018
I am 62 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016.
Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 3nd year Uni in SUTD.
I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild.
I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
Disclaimer: Stock trading involves significant risks. Create Wealth trader is not a licensed Investment Adviser and will not be responsible for any losses which you incurred. You are advised to always do your own homework before making any trading decision.