Trading for Tradies: How You Can Retire Early
As the pension age in Australia continues to gradually increase, those that work in a manual labour role might feel concerned about how they’re going to keep working when they grow older. Uncertainties about the future can put pressure on your physical and mental health, financial state and family life and at the moment, 40% of older Australians don’t get to choose when they retire.
As a tradie, what are you doing to set yourself up for retirement? As the time approaches for you to quit intense and potentially harmful labour, you might be exploring the options available to you.
Quite often, your business won’t be enough to cover the necessary retirement savings. That’s why tradies in Australia are learning to trade in stocks, for that extra income and peace-of-mind for themselves and their families.
In this article from Wealth Within, we explain why learning to trade could be beneficial for you, helping you retire earlier and more comfortably - and how you can make it work.
Take control of your future health and finances
The work you do as a tradie can have a significant impact on your health over the course of your career. In fact, one in five serious workplace injuries in Australia involve a tradie. Depending on your specialism, other health risks include hearing loss, musculoskeletal disorders, mesothelioma, silicosis, mental health illnesses and general pain and deterioration of the knees, back, etc.
For those reasons, tradies tend to retire earlier than white collar workers. As you grow older, you become less capable of working to the same level, and you need to make sure you’re prepared when the time comes to stop working completely.
Learning how to invest in shares could provide the extra income you need to retire comfortably and stop putting your body through such intense labour. Retiring shouldn’t mean living a lower quality of life; learning how to profitably trade the stock market could mean you still enjoy things like holidays, cars and boats, and have the funds to provide a high standard of education for your children.
How learning to trade could help you retire comfortably
Whether you’re completely new to trading or you’ve already begun investing in stocks, the potential benefits for labourers in Australia are hard to ignore.
Here are just some reasons why finding ways to invest that work for you could ensure you develop a lucrative income, even after retirement:
- High-quality stocks can produce long-term gains that are larger than most other assets
- Growing your nest egg for retirement, to ensure you maintain a comfortable financial position even when you can’t work
- While the average return of the stock market fluctuates, we see overall increases per annum over any ten year period. A long-term investment could see attractive returns
- If you properly learn how to trade the stock market, you’ll be able to competently trade in any market condition
- The value of stocks can rise indefinitely
- Anyone can learn safely and confidently - even if you’ve never studied finance, business, accounting or a similar discipline
To get started, check out this best-selling book on How to Beat the Managed Funds by 20%. This bestselling book by Dale Gillham discusses how you can use simple DIY share market investment strategies, offering you a straight-forward, practical approach to confidently trade the share market.
Wealth management for tradies in Australia
Of course, deciding to invest in the stock market comes with its own risks. So many people dive straight in, banking on “hot tips” from their friends and watching YouTube videos that offer cookie-cutter tips that make the market seem more black-and-white than it really is.
That’s how people lose money and become disappointed.
It’s vital that you take the time to build your knowledge of trading. When equipped with the right tools, you can increase your chances of long-term success in the market. More tradies across Australia are turning to Wealth Within to help them gain longevity in their investments, and plan for theirs and their family’s future.
We’ve been helping people like you achieve their financial goals since 2002 and we do this by providing the highest quality international standard in education - even for complete newcomers. In fact, the testimonials and reviews from Wealth Within students reflects how educating yourself in investing can truly change your life.
Some popular courses that may be useful for you include the Diploma of Share Trading and Investment and the Trading Mentor Course. Both are delivered online so you can study at your convenience, and payment plans are available!
Here’s how you can get started
Kickstart your trading career with Wealth Within. We’ve put together a range of resources, including videos and books about trading, to provide some inspiration and get you on the right track to making successful investments. When you’re ready to master the strategies and set yourself up for retirement, our trading courses are the only nationally accredited share trading courses at Diploma level.
If you’d like to speak directly to one of our Educational Consultants, just call 1300 858 272 or Melbourne direct on 9290 9999. Alternatively, you can send an Email. We’d be more than happy to share our advice.