By now, you are well aware that I detest complexity in most areas of life. I am beginning to declutter my financial life as well. The release of the Vanguard All-In-One Funds in January 2018 have been a game changer. VGRO is the one I currently own. I have decided to follow the simplest strategy of all. Buy VGRO in the TFSA each January. With no RMD requirement, a TFSA should be the longest of long-term investments. I love the pure simplicity of a financial…Continue Reading “The One Fund Solution”

Money is such an emotionally charged subject. There are those who are passionate about it and those who cower in fear of it. It is so important to people that many can not discuss it without arguing. The range of “how much is enough” money is vast. My Enough I had enough when I was 36 years old. I had a networth of about 1.5 million or so. Our family living expenses were about 30K a year. Based on my new found FI lingo, that…Continue Reading “The Point Of Money”

Many of us in the physician FI blogs have children. In fact, many of the guys have 3 or 4 children. You guys are very fortunate by the way. I wanted more children but got seven miscarriages instead. So although your lives feel crazy busy at times, be grateful for your blessings. In any case, it appears that many families are concerned about wealth dissipation within one or two generations. In fact, the statistics I have read state that 70% is lost in the second…Continue Reading “Responsible Living Inheritance”

The Financial Plan 2018 Corporate Accounts The passive income of 50,000/ year and then you lose the Small Business Deduction(SBD) has begun. And then you get to pay more tax. Plan Do not risk my cash into the market until it is worth my while. Like go on sale already Mr. Market. In all seriousness, I am dollar cost averaging the yearly amount but I will not lump sum my prior years’ cash we had held to buy an apartment building. We will take our…Continue Reading “Financial Planning 2018”

I am almost 50 years old this year. I have two children who are early on in their university education. I have noticed a slight discomfort recently that I did not see coming until I started to experience it. It is this realization that my children might not do as well financially as we have. It really began when I ran the numbers on my son’s possible path to FI. He might be coming out and earning 50K a year. That would be a pittance…Continue Reading “A Wrinkle In Physician FI”

I started this blog at the beginning of the year. Why start a blog? I bought a Bluehost plan impulsively wanting to help out a website I enjoyed reading. I also enjoy writing. I write regularly similar to exercising regularly. It is simply about the rhythm and routines that I enjoy developing. Perhaps some of you started a website to make money. Good for your insight. This blog thing is fun but I for one will not make any money from it. I had more…Continue Reading “Why Start A Blog?”

There is a difference between living below your means and frugality. My definition of living below your means allows one to buy whatever they want as long as it is easily affordable. That is why it is very difficult to dogmatically state that buying such and such is bad and living a certain way is wrong. The fact remains that those who are able to earn more CAN simply live higher up on the scale. Someone can own the most expensive home in your city…Continue Reading “Living Within Your Means versus Frugality”

Age Salary Dividend RRSP CPP OAS Total 50 to 65 X 120K/ year 65- 70 X 100K/ year 70+ X X X 106K/ yr 70+, widowed X X X 78K/ yr Dividends from CCPC (Canadian Controlled Private Corporation) RRSP= Registered Retirement Savings Plan (Has RMD’s) CPP= Canada Pension Plan OAS= Old Age Security Salary= 60K/ year each Dividends- 50K/ year each I have been thinking about financial planning in retirement. I have had to alter it with the tax changes occurring in the CCPC. In…Continue Reading “Financial Planning For Retirement 2018 Edition”

I am having a wonderful Mother’s Day. How appropriate this post is about children. I have two children. My daughter loves school, my son could barely attend school. This is for my son who wants FI. He will be 20 years old this year and here is the plan we have formulated. Why? I had to ask him why he wanted FI. He said that I seemed to have a pretty great lifestyle. Now that was music to my ears since sometimes, you don’t think…Continue Reading “FI My Kid”

I have met some very lovely people since I started this blog. Here is brief list of some of my favorite physician bloggers. Canadian Dr. Networth The Loonie Doctor Financially Free MD American A Good Life MD Crispy Doc Dads Dollars Debts Dr. McFrugal DiverseFI Doctor of Finance MD Dr. Cory Fawcett Millionaire Doc Passive Income MD Physician on Fire The Happy Philosopher The Wall Street Physician WealthyDoc