There’s a new wave that’s been coming through, and if you haven’t already caught on, it’s time you do now. According to Bloomberg, “The Covid-19 pandemic will exact a $16 trillion toll on the U.S., which is four times the cost of the Great Recession, according to former U.S. Treasury Secretary Lawrence Summers and fellow Harvard University economist David Cutler”. With the uncertainty in the US economy, a shaky election and unemployment as high as it’s ever been should certainly be a wake up call to enhance financial literacy and stability.
13 year old Christian “Truth” Jones discovered a gold mine in the stock market as a day trader trading options, which are contracts at 100 shares. There are calls, and puts, which means you can either buy or sell by a certain expiration date. It’s a very volatile market, however there’s risk involved. But with proper knowledge and risk analysis, one can make a years salary within months, weeks, days and even minutes trading options.
The young businessman, born in Fort Knox, Kentucky and was inspired around the age of 7, by another 14 year old Black boy who lives in Chicago who had made $50,000 at the time. He asked his mom to teach him, but she didn’t have a clue, nor did she really take him serious. Christian eventually opened up a brokerage account, and went back to his mom again. She decided to spend over $25,000 in a virtual course to learn how to trade stocks and options so that she could regurgitate the information to her zealous baby boy.
Well, not long after, here you have it. A young entrepreneur ‘getting his own bag’ at the age of 13. Not only is he getting his bag, but he’s teaching other adults around the world how to cash in on this global market.
“Some say that I explain it more easily than most adults do. I will say this: day trading is one of the most simple and efficient ways for somebody to make money from anywhere in the world”, he told Rolling Out magazine.