A Friendly Competition

chess pieces

My husband and I decided to get a little adventurous with our finances this year. Both of us moved into new positions at our jobs at the last three years or so and we’ve been able to put around a quarter of our total income in the bank. Now, with almost an entire year’s salary in the bank, we’re looking into investing. Richard wants to go with a more traditional approach, investing in certain companies and letting our money sit, but I’ve been looking into binary options as a way to invest. We’ve been going back and forth about how we should invest so we’re thinking about making it interesting.

Rick and I are thinking about making a friendly wager, giving ourselves each a decent sum of money to invest in each of our own ways. He’s going to invest in some traditional stocks and after reading about them at Financial Trading School, I’m going go with binary options and the winner gets to pick where we go next year on vacation. The wager will last for one year from the day we start. I’m hoping I’m right, because I could really use a trip to a tropical island this year. If Rick wins, I’m sure we’ll go out west or to the mountains again. Both of those are fun, but I’d really rather relax on a beach.

Why do I think I can win? Well, from what I’ve been seeing, binary options offer a chance for a person to take a little more risk but walk away with significantly more money than a standard investment. It’s actually a pretty interesting idea. Instead of buying a stock, you put money out there and you say “I think this stock will be at a certain level by the close of the trading day.” So, instead of letting money sit for weeks or month to earn a few percent, you invest a certain amount, say $100, and if that stock hits a certain mark by the designated time, your return is a much higher percentage. It’s almost like betting the spread in sports betting, which adds a level of excitement and challenge to investing.

All I know is that I think I can destroy Rick in our little wager and I can’t wait to be sitting in a bamboo chair listening to the sound of the ocean, getting some rays. Drinking a pina colada and living it up sounds like my idea of a perfect vacation, and I’m pretty sure I’ll be able to make it happen.