[EBITDA]

Has anyone else ever had zero motivation to study for the CPA exam? I took one exam section and passed. However, after that first exam, I have no motivation to study.

I find myself getting distracted constantly even if I have the intention to study. For example, every time I go on my computer to study during the day, I end up looking at stocks. Once I look at the stocks, I find a few stocks I would like to trade and make a quick profit.

Once I find those few stocks, I then proceed to trade those stocks. I have been extremely profitable at trading which makes it very hard to have the motivation to complete the CPA exam. It is addicting to see your account balances grow so much and consistently come out on top of trades.

I want to complete my CPA for sure, even though I will make a lot less money in the long-run than trading probably. What keeps you motivated to keep studying for the CPA exam? I need some suggestions. Thanks in advance!

[M123]

Wait until you see those capital gains taxes, wash sale adjustments, and compare to the overall market and whether you were able to beat the market. Then the reality will hit.

Otherwise it sounds like you found your calling.

AUD - 77
BEC - 81
FAR - 77
REG - 81

REG - 1. Becker only - fail (forgot to study depr - oops); 2. Becker only - Pass
FAR - 1. Becker only - fail; 2. added Ninja Notes and MCQ - Pass
AUD - 1. Becker videos; Ninja Notes, Audio, MCQ, Becker Notes - Pass
BEC - 1. Ninja Notes, Audio, MCQ, Becker Notes - Pass

[EBITDA]

@M123

Using my gross (percentage) return, I beat the S&P 500's one year return this week alone. After taking into consideration capital gains tax, I did not beat the S&P 500's 1 year return with my gains from this week only (I don't have the exact capital gains figured out to calculate it exactly yet). Wash sale rules are largely irrelevant for what I am doing. I only had a few losses and they were all within 2/3 of a percent of my invested capital per transaction. If I trade the stock again it just adds to my basis reducing my capital gains when I sell for a profit.

I am interesting in pursuing my CPA. I don't want to be a trader the rest of my life. I just like doing it for fun, but recently I just get too distracted when studying and start trading instead. Do you have any suggestions to keep me from getting distracted?

EDIT: Using my gross return I beat the S&P 500's 1 year return this week alone in my TRADING portfolio, NOT my overall portfolio.

[LawGuy]

The stock market is at a unique high point right now, i.e most stocks are going up so you’re more likely to make money from trades. This is unlikely to continue indefinitely, and it becomes much more difficult to make winning trades when the market is trending downward. You already knew this of course, but it’s just a reminder.

As for the motivation factor, if you don’t feel like studying… don’t. Just take a break from it. If you’re like me, in a few days you will remember why you wanted to take it in the first place and will be able to resume studying.

Others may disagree but I find that this is the most healthy approach for me.

AUD - 86
BEC - 85
FAR - 81
REG - 92

Excelsior!

[Anthony]

Motivation is overrated, discipline and consistency is what gets you to the finish line. It's either you want to be a CPA or not. If you are serious about it you would put almost everything on life on hold for it. Hate to sound like an ass, but it sounds like to me your aren't interested.

AUD - 82
BEC - 80
FAR - 81
REG - 82

FAR - 74 first attempt

[EBITDA]

@LawGuy

I actually prefer trading in a bear market. I usually don't trade companies that are overvalued and due to the current rally most of the stocks are overvalued and I won't play them.

I really like your idea about taking a break. I get burned out when I focus on studying nonstop. When I take a couple days off every once in a while I actually remember everything better and I can comprehend more material when I start studying again. I probably will take a break.

Thanks for your suggestion!

[EBITDA]

@Anthony

I agree discipline is a huge factor. I know I want to be a CPA, but it's just hard to stay focused. i need to work on my discipline.

[Ivy]

@ebitda

Same as you, more interested looking at stock than book.

What do you mean if you trade the stock again it just adds on your basis reduce capital gains when sell for a profit?

Will it make difference by buy back the same stock or different stock when it was sold as gain? Does that add on the AMT tax calculation?

[Ana]

Same here, except I read the news, online shop, and do housework. I'm coming on two years of sacrifice, no life, just studying. I have sacrificed tons of $$$ in my career, missed out on family events I'll never get back, bdays, holidays etc. It's taken a toll mentally, physically, and financially for both my husband and I. I feel robbed on my last exam and don't know how I didn't pass after studying non stop for months. Now my hearts not in it. I'm going through the motions but lack the motivation others have. Hopefully it comes back because I do want to finish and be a CPA. It's just so hard to keep going when I don't know when this journey will end and I don't feel that studying equates to passing with the new exam format.

BEC - 78
AUD - 75
REG - 64, 77
FAR - 73, 73, 73, 82
Ethics: 74, 84, 98
Finally done after 23 months.

[EBITDA]

@Ivy8313

When you sell a stock for a loss and repurchase it within 30 days (thus, wash sale rules apply), the capital loss you had from selling the stock is disallowed. Instead, that initial loss you had is added onto your stock basis when you repurchase the shares. When you sell the shares the second time, you basis for those shares will be the purchase price + the disallowed loss.

For your second question, the wash sale rules only apply to losses and not gains.

I am not certain about the AMT question. My brokers take care of all the tax reporting. The amount of the losses I have this year are immaterial so I don't really pay attention to the tax treatment since my broker takes care of it.

[EBITDA]

@Ana sounds like you are in the same boat as me. I hate missing out on all the family events and sacrifices that you can never get back. Hopefully by the time I complete the CPA exam artificial intelligence doesn't do the job I plan on doing with my CPA license. If that happens, at least I made a lot of money on AI stocks.

[Ana]

@ebitda LOL I try not to dwell on it but I think about it everyday. Life is too short as is and now I've spent two years cooped up in my dining room.

BEC - 78
AUD - 75
REG - 64, 77
FAR - 73, 73, 73, 82
Ethics: 74, 84, 98
Finally done after 23 months.

[Ivy]

@ebitda

I misread your post, thought there is some kind of special rule for professional stock traders. Like the real estate investing.

Thanks for getting back to me!

[EBITDA]

@Ana

Hopefully you can get it done soon so you can get back to enjoying life. It will feel like such a relief when you are finally done with the CPA exam.

[EBITDA]

@Ivy8313

There are some regulations I could avoid if I traded as a professional, but I don't. My brokers actually charge a lot more money if I were to trade as a professional. It's not worth it.

[Anonymous]

If you lack motivation, discipline, strength, or self-perseverance the CPA Exam will eat you alive. Sorry if that comes off as being rude, but that is the truth with this Beast of exams. You will have to make many sacrifices and be miserable for awhile to pass all of these exams. If you are not 100% committed, then you are probably wasting your time.

You have already passed one exam, so keep up the Good Work!! Knock out the next 3 exams out and be done with this crap!! Place your cellphone in another room, only log-in to A71, and lock yourself away from the outside world to study your butt off!!! 🤓📚

Goodluck!

[Author]

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