During the early stages of the COVID-19 pandemic, everyone was more or less restricted to staying at home, and I used that time to challenge my children to write book reports on an investment book I had read in my youth. The title was Rich Dad Poor Dad.
The impact this book had on my 17-year-old son was unexpected.
Learning the fundamental theory behind investing empowered him. The road to financial freedom was no longer just as simple as saving; it now included the understanding that you could make your money work for you. My son was already a frugal young man, so he was eager to apply his newfound knowledge to his lifestyle.
As his father, I was, of course, impressed by his receptiveness and was motivated to find ways for us to apply the information together.
Now that we shared a similar financial knowledge base, all we needed was an opportunity for him to apply it in the real world.
Our local neighborhood barbershop had honored a few students from the local high school who recently graduated with an information event. My son was also a part of that group, and we attended together. One of the gentlemen there spoke about a stock market investment course, which reminded me that I had always wanted to participate in the market but never took the time to learn how to invest.
This was the perfect opportunity for me to get my children involved in investing. We took the course, and surprisingly my 13-year-old daughter was the rockstar of the class. She quickly grasped the information presented. She understood analysis, recognized entries and exits, support and resistance lines, and even understood options. It was unbelievable what my daughter was capable of.
With my family on the same page, I wanted us to utilize our newfound knowledge to produce currency. Being a construction worker, it was very difficult for me to day or swing trade, so I figured I could have someone do it for me. I approached the instructor of the investment course and asked if he was willing to invest some money on my behalf, but he declined. Back at square one, I had to find a way to do it on my own.
I decided to take some money out of my savings and fund my TD Ameritrade account and start trading.
There was a lot I didn’t understand, so I continuously studied the craft of trading using the Internet as my guide. YouTube became an essential tool in this process, and I never hesitated to call the TD Ameritrade helpline to have them explain anything I didn’t understand.
I did suffer some losses in the beginning, but that didn’t deter me. My diligence led to a 900% gain on my account. As someone accustomed to working long hours, seven days a week, I was impressed with what I had accomplished with a much smaller time investment.
Experiencing the reality of not having to trade so much time for money was life-changing for me, and I was compelled to share what I had learned with my community.
Remember, “every problem is an opportunity.” I certainly didn’t forget. The COVID-19 pandemic was currently the problem, but it gave us time, and we took advantage of it. We educated and prepared ourselves, and when the opportunity presented itself, our efforts gave birth to Ten Talents Trading.
The name was inspired by Matthew 25:14-30. It contains a parable given by Jesus that I have always found very motivational. It resonates with me on so many different levels that I found it necessary to incorporate it in the name of my company. One of the keys to financial growth is to let your money grow itself for you rather than have it sit unchangingly.
Together, we can use the information and insights provided on Ten Talents Trading to become financially wise. We’ll invest the talents given to gain financial freedom for ourselves, our families, and our communities.