hello children this video brought to you by the book batshit pad economics the financial advice bible for menses for providing advice presumably for men because apparently girls don't day trade anonymous right super short version what factor should be at the top of my list when considering quitting my day job and pursuing my side gig full time do you have any tips and advice and experience that could maximize my chances of success more details you are a very intelligent individual a very intelligent field with an iq of NUMBER_TOKEN which i mean you just that's like two-thirds of standard deviation beyond me man you were those types rod like i can't mean to understand them i don't i feel like the mentally impaired one though and my day job requires about three percent of my intention but significant time many NUMBER_TOKEN hour plus processes by all standards it's a decent gig but i've been finding more and more success trading equity options and futures on my phone up NUMBER_TOKEN since i started four months ago and no i don't do stupid wall street that's PROFANITY_TOKEN i'm starting to consider becoming a full-time trader bro he doesn't say bra and i'm not putting my hat on backwards because the guy doesn't have an iq could actually be a quant and actually could be pulling this off but once i pull the trigger i'm making an llc or s corp it'll be a conflict of interest with my day job because i'll be working for companies or two companies at the same time what duck should i have in order to make this transition as smooth and successful as possible is anything i might be missing in my assessment i'm also considering moving to puerto rico another jurisdiction with better tax incentives i would love to hear your thoughts on how i could best minimize my tax bill and what extent i should learn accounting thanks your time this is too involved for a video to have it at one on one no that that's fine we'll we'll have another i don't even have time for one of ones um all right a couple of questions all built up in here then i'll kick your ass later uh let's talk about things you do before you start entrepreneurship all right one you make sure you have a product that's going to sell because you don't want to go through the the panasory of setting up an llc owned by an escort find the NUMBER_TOKEN getting a payroll processor hiring chad elkins to do all this uh that's going to be at least a week of your time and then like you said you're going to learn a little bit of account i'd say you have to learn a fair amount of accounting you have to learn how to save receipts you have to understand the concept of an income statement nothing anyone can understand this it's just going to take extra time so you're looking at at least a month of just setting up a company in the corporate structure um so make sure your business actually is going to make money and then yes uh you could consider moving to puerto rico uh both your personal residence and your llc this is where you would hire someone like chad hawkins or perhaps a tax lawyer would be a better person you'd hire chad to set up the company you're a
START_SELFPROMO_TOKEN this video brought to you by the book batshit pad economics the financial advice bible for menses for providing advice presumably for men because apparently girls don't day END_SELFPROMO_TOKEN