Want to Become a Full-Time Investor? Here’s How.

I don’t know about you, but there are times when I think “Yeah, I can make a living just from investing in my portfolio.” Usually, those times are right after I close a great trade.

But then I come back to my senses and realize that I probably don’t have all that it takes to be a full-time investor. At least not now.

So, when I saw an article about how to become a professional investor on today’s TheStreet.com, I just had to read it.

Written by professional investor and finance professor Scott Rothbort, the article gives a great rundown of what you’ll need to become a successful full-time investor.

According to Scott, the first thing you need to do is to get organized and write a business plan. Yes, professional investing is a business. And you should treat it as such.

Then you really need to look deep within yourself to see how you work – both alone and with others. One thing I didn’t realize is that you’ll need to decide on what legal structure is best for you – such as a sole proprietorship, limited partnership or LLC. This should fit in with the money/tax structure you choose.

Once you make the above choices, you have a few more decisions to make. Are you trading for your own account? Are you managing money for others? Are you doing both? If you’re a money manager, is your fee based on assets or performance?

Yeah, I know that that’s a lot to think about. But then, if you want to be a successful full-time investor, you need to do it the right way. And I’m betting that a pro like Scott knows the right way.

So, if you’ve ever thought about investing full-time, check out Scott’s article. It could be your first step to becoming a pro investor.