#1,475 What is that thing everyone strives for? Extra income strategies

Now, let's connect what we talked about earlier.

to something most people are striving for, and that's probably an additional income strategy.

Maybe you want more breathing room each month, or you're thinking about retirement.

I've been talking with a lot of people lately, and they've been saying, hey, I wanna help my family more.

A lot of times it's their kids, or sometimes they bypass that and they go, they're grandkids.

Or sometimes people just wanna have more choices about how you spend your time.

And that's one thing you just can't get back, it's your time.

So today, let's explore two different markets.

You have the futures market and the forex market, or they call it the foreign exchange market.

Now, these markets require work, obviously.

You have to have proper judgment.

You also need proper risk management.

But learning how these markets actually operate can expand your understanding of money, the economy, and the opportunities or the risks around you.

So let's talk about first what you're actually trading.

A futures contract is basically a standardized agreement to buy or sell the underlying asset at a specific future date.

or a specified future date, we'll call it.

Now, that could be gold, silver, the S&P 500, oil, my favorite, we talk about each a lot of times during the show, lean hogs, interest rates, you get your 30-year bond, the 10-year bond, and also currencies.

There's futures, contracts, and currencies.

Some settle in cash, others settle in delivery.

The good thing is most brokers, if you're doing things the right way, hopefully you won't get oil delivered to your driveway.

So you need to understand the particular contract and the expiration rules before you enter the trade or investment.

So just like stocks, if you buy a contract, you benefit when the price goes up.

And when you sell a contract, you benefit when the price falls.

They both can lose money, but we talk about each and every week having proper risk management is how you protect those losses and keeping them small and those gains much higher.

Now, think about the stock market news kind of like we discussed earlier, even last week in the show.