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America Is Broke: 60% Living Paycheck to Paycheck

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Written by Timothy Sykes
Updated 11/15/2022 4 min read

A recent study by LendingClub showed that 60% of Americans live paycheck to paycheck.

But inflation isn’t just impacting those who earn less than $100K a year…

Approximately 45% of Americans who earn more than $100,000 a year live paycheck to paycheck now.

You can blame:

  • Your parents
  • The government
  • Lack of opportunity in your local area
  • Inflation
  • The Federal Reserve
  • Wall Street
  • The economy
  • Your job

But that’s not going to fix things.

While you can’t control inflation or what the government does…

You can take control of your finances.

No, I’m not talking about trying to save a penny here or there.

I’m talking about making so much money that you become bulletproof to these outside events.

Something you can do from anywhere in the world…

© Millionaire Media, LLC

It requires no team or boss to drag you down…

…puts no cap on your earning potential…

…and gives you the flexibility to set your schedule.

© Millionaire Media, LLC

You don’t need a degree, pass an exam, or experience to start trading.

There are no roadblocks to getting started.

But if you want to succeed and achieve financial freedom, you’ll need a framework and proven system.

I became a millionaire at the age of 21.

But what I’m most proud of…

Is helping 30 of my challenge students become millionaire traders. A few of them have reached 8-figures in trading profits.

And even in this year’s bear market, one of my top students is up $1.6 million in trading profits through the first nine months.

© Millionaire Media, LLC

Success with my strategies is not market-dependent. I’ve been consistently profitable in bull and bear markets year after year.

This year has been no exception.

Moreover, you don’t need a big bank account to trade my strategies.

When they started, most of my students had little-to-no experience and a small trading account.

However, with the help of my program and mentorship, they’re now living a life most folks only fantasize about.

matt monaco in Italy
© Millionaire Media, LLC

You could be just one phone call away from changing everything…

===> Click here to schedule your call

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Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity.
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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”