SHE gave up a six-figure salary and a top management position to be an options trader nine years ago.

Today, millionaire trader Mirriam McWilliams, 51, is rewarded with returns that are substantially more than what she used to earn a year, even during the current slowdown.

She would not reveal how much more, but she is such a savvy investor that she has turned US$10,000 ($15,200) into US$1 million when the United States was undergoing a recession in 2001.

The New Paper on Sunday finds out how the vivacious woman - who used to work as the vice-president of investor relations in a Coca-Cola franchise in Latin America - makes money 'even when the stock market is tanking', and gets her take on why people should keep spending even when times are bad.

Q: Do you think people should spend and enjoy themselves in the light of recession?

'I believe that people should enjoy their lives at any time. We should not live in fear. Of course, spending should not be indiscriminate.

'You should budget yourself, and once you have settled your monthly bills, set aside some money to spend on yourself and on your education.'

Q: Why is it is crucial to spend now?

' It would prop up the economy! Tightening belts would prolong the recession, and we would be going nowhere.

'People should go on living their lives, and if they have the capacity to spend, they should do so.

'If you have cash to spend, make that purchase and be unconcerned about the effects. When the economy turns around, you would still be in great shape.'

Q: What are you spending on during this recession?

' I'm going for a cruise with my husband and his family to celebrate Thanksgiving. I'm not going to stay home and worry about the economy.

I am also spending US$25,000 to upgrade my 4,000 sq ft house in West Palm Beach.

'In the US, with the slowdown of the housing boom, we were able to get the upgrading done at half the price it was three years ago, at the height of the bubble.

'With the excess cash, we're even getting a new couch.'

Q: Singaporeans value their five Cs - cash, credit card, condominium, car and country club membership. Which would you keep and which would be the first to go?

' If my portfolio went down the drain, the first to go would be my country club membership, because that's a by-product of success.

'As long as people do not over-extend themselves, they can feel free to charge that $3,000 to their credit cards, as long as they know that they have the cash to pay it off.

'I would also keep my condominium, because that appreciates in value over time. In the US, condominiums double in price every six to 10 years.

'A car is a necessity for me back home, but you have such an efficient transport system here! So, my priorities would be first cash, then credit cards, condominium, car, and finally, country club membership.'

Q: Is it a good time to go into the market now that stocks are trading cheaply?

' If, within the next few months, the Dow Jones can stay above the low of 7,882 points that it hit on 10 Oct, then we are safe, and we have every reason to go higher in January next year.

'However, if the market breaks a new low, that's not good, and we may be headed for an extended bear market, where we may have another six months of recession to go.

'Although the market plunged on Wednesday, it did not hit the low of 10 Oct, so that's still bullish, because we can expect it to rebound in January.'

This article was first published in The New Paper on November 16, 2008.