Build Wealth With Premiums

What do I do with my premiums?

Here's a question people ask me all the time. "What do you do with the money you make options trading?"

#1 - It's not sexy, but it has to be done. I put away 30% to pay taxes because I never trade with the money I owe the IRS, and I like to get this out of the way ASAP. I make estimated payments to the government every 3 months, per my accountant's instructions and estimations on what I'll owe. I put the money aside I owe every month though. At the end of the year, if I have cash left over I choose what to do with that then.

#2 - I live off options income to some degree. It's supplemental to other income sources I have. I spend some of my money on treats, travel, and enjoyment. 

#3 - I reinvest in options trading, long-term holds, dividend stocks, and cash.

I have 4 accounts and they all have different purposes. In my main brokerage account, I trade, live off some of the premiums, and use the rest of my income to put back into options trading. This account provides income and growth. 

In the second account, I use all my premiums to buy long-term holds. This account provides me with WEALTH and assets now in the future.

The third account is my retirement which I trade lightly, only covered calls and it has a specific design for its purpose of providing me with a solid and abundant retirement.

The fourth account is a mix of dividend stocks and cash. The dividends pay part of my mortgage and will snowball into paying for all of it. Cash is a position. Always remember that.

I recorded a new video series for all my members on reinvesting premiums with a purpose! It's called WEALTH BUILDING with OPTIONS PREMIUMS. This is now uploaded to the website to diversify what you're thinking about when it comes to building long-term wealth.

Options trading can make you rich. You can spend extra here and there, and make your life abundant right now. But....

Smart people look ahead and know that being rich is one thing, but being wealthy is another ball of wax. Wealth sticks around. Wealth continues to grow. 

Let's get it!