To reach financial independence usually involves some limits on spending. Some people profess to buy their clothes from thrift stores and have the ability to buy everything as cheaply as possible. I believe we had a budget for a grand total of three months in an attempt to curb our dining out expenses. Our food expenses had ballooned beyond 15K a year at times. We live in a wonderful Canadian city which has a plethora of dining out options. We do not dine out at…Continue Reading “Sustainable Spending”

One attains better health by limiting their consumption of alcohol and junk food. It may prove true that limiting unhealthy financial behaviours probably has the same effect. The analogy may be conspicuous consumption and fueling credit card debt. Limit Entertainment Entertainment and distraction are useful to occasionally serve as a break from the workaday world. I tend to enjoy watching something humourous everyday on Netflix. I find the ability to have a good laugh beneficial to my mental health. Plus I really love comedies. That’s…Continue Reading “Limits Are Healthy”

Whenever people argue about which is the better investment, I do not really know what to say. But I can comment on my forays into two of my investments- one equities and the other investment real estate. We can be notoriously bad at predicting what will happen with our investments. Back in 2000, I bought 19 shares of Berkshire B stocks. The average price adjusting for stock splits was about 35-42/ share. Today Berkshire B’s are worth above 200/ share and have split into 950…Continue Reading “A Tale Of Two Investments”

I have been thinking lately of the financial steps I took early in my career. Many of these steps I took without really having any guidance. I have also witnessed many of my classmates fall prey to easy credit offered by their financial institutions. Thus I thought I would provide a bare bones checklist for new professionals. Medical School You are broke. Try not to put many things on credit. Many of my classmates had significant debt by the time we left medical school and…Continue Reading “New Doc Financial Checklist”

Well that is a bit of a catchy title but it is ultimately what I want for my financial plan. And maybe even for my life. For instance, I really enjoy marrying a forever husband and I really love my forever children. I also love my forever home and I plan to not change our forever careers. I have even maintained the same hobbies since I was a child of running and reading books from the library. The library is still one of the few…Continue Reading “Forever Investment Plan”

We live in a world of automation. It appears many people would prefer to deal with a machine rather than with other people. Quick examples include self checkouts at libraries, grocery stores, gas pumps and today it even included my car wash. I have to admit that I love automation. I have swooned about my Roomba for years. I also have a love affair with my dishwasher as well as my washing machine. I have never needed to hire anyone to clean my home since…Continue Reading “Automate My Life”

It has been said so many times that no one really listens to it anymore. But it’s true that “It’s not about the money.” I used to make excel spreadsheets which would predict how much my money would grow at a certain rate of return. I used to pat myself on the back when I would see the millions that would accumulate. I started doing these calculations when I was 15 years old and used to do them by hand calculator. I look back and…Continue Reading “It’s Not About The Money”

Money is a topic that will need to be attended to for the rest of your life. For those who wish to keep their head in the sand- this would be terrible news. Furthermore, it is liken to schoolwork. Studying it makes one less stressed about it. Your financial statement is your adult report card. I understand the sentiment when people say they do not care about money. They tend to think along the lines of materialism and greedy rich folks. Those are emotional reasons…Continue Reading “Deal With Your Money”