The 1920s seemed to be a luxurious time period for many Americans. Little did they know that this was the beginning of America’s greatest downfall. With more and more people spending more than what they earned, America’s debt skyrocketed. This generation has the largest gap between the poor and the wealthy which is contributing to the second great depression. For years on end older generations have passed on this perception that one must finish school, go to college, receive a degree, and work. While this may seem like an effective and prosperous way of life, it’s unrealistic and doesn’t allow for people to use their time on Earth to its full potential.
According to state senators John Thune and Mark Warner in an article on Time, the United State’s student loan debt exceeds over $1.5 trillion. It’s upsetting that nearly 44.7 million Americans are working for the rest of their lives to pay off student loan debt when there is more to life than just labor. Though it may seem as if technology has decreased the number of jobs across the world it has actually opened up a realm of success.
“Technology has taken over the world,” FOREX trader and team leader Noor Nabulsi said. “Nowadays you walk into Walmart and you have self-checkouts and machines that clean up the floors. Remember, [that] could’ve been someone’s job.”
For over 200 years the stock market has existed for investors to buy and sell shares from well-known companies. This has created a new way for the average person to invest in companies to make a profit. As technology continued to evolve, investors have found a way to trade foreign currency on the foreign exchange (FOREX) market to make a greater profit. In one day the stock market generates nearly $2.8 billion a day while the FOREX market generates an estimated $7 trillion a day.
“Whether the currency in the foreign exchange market goes up or down,” FOREX trader and team leader Emanuel Teame said. “You’re still able to make money. Rather than investing in shares in the stock market where if that company fails your money is gone.”
In this world we have countries and each country has its own currency and the value of these currencies are dictated by economical situations in the world. Government debt, interest rates, political stability, and unfortunately wars and terrorism cause the value in currency to fluctuate. As these values continue to fluctuate, people with an investor mindset have learned how to make a profit from buying and selling different currency pairs.
“Trading involves a lot of psychology,” FOREX trader and team leader Denver Wagner said. “I have learned a lot not only about the markets but about myself and others as well.”
The stock market is a national market while the FOREX market is worldwide and deals with a larger scale of commodities. While money is being traded in this market, people are also able to trade things like oil, silver, gold, gas, and even cryptocurrencies. Top traders have partnered up to create an online academy called “IM Academy” that educates the average joe on how to become successful in this business.
“When I first was introduced,” Nabulsi said. “I was pretty hesitant because I didn’t think they would [provide] enough value. I was trading forex five months before I was introduced to [IM Academy] but I can tell you that it took me to the next level of trading!”
In joining the academy you purchase a number of resources that guide and educate you in the most prosperous way. Once referring people onto the business the company will then begin to pay a residual income which can be used to fund a trading account. The more people one has on their team, the more money they earn from the company.
“My life management skills have changed so much,” senior Jarret Adams said. “I’m constantly working on myself and improving my skills. I’ve grown so much in just the span of two months.”
All of this can be done on any mobile or PC device with cellular data or WIFI. According to an article on Pew Research, 96 percent of Americans own a mobile device yet the vast majority of them aren’t making money off of it.
“It’s 2020,” Teame said. “And if you aren’t making money off of your smartphone then its a dumb phone.”
Like any other business this one isn’t meant for everyone. However, for those who don’t know what career to pursue, don’t have money to pay for a college education, or for those still paying off student loan debt this may be the easiest way to earn while you learn.
“Trading is one of the smartest decisions I’ve ever made,” Nabulsi siad. “It’s a journey that will never stop.”