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  

I will review what I do each month to manage our finances. I review my accounts monthly. Review credit cards Visa- Corporate Visa- Personal Mastercard Update networth on Google sheets Review all bank and investment accounts Bill payments if no automatic payment set up Move extra cash to high interest savings accounts Invest Banks- buy or re-invest excess cash into term deposits RRSP Buy 1/60th of total as a 5 year GIC ladder TFSA Buy VGRO- DCA ie dollar cost average Corporate Account Buy VCN…Continue Reading “Monthly Financial Routine”

I feel a great need to decrease financial complexity. I am sure there are others who feel the same way. It is this uncomfortable feeling that you are not on top of things. I have never been one who could multitask effectively. They say women can multitask better than men but I simply do not work that way. I will often take the simpler way to do anything even if I lose a bit of money doing things that way. I believe that I have…Continue Reading “Financial Complexity”

Assets 2018Q1 2017Q4 Change % Change Notes RE 1- Home 3,030,000 3,137,000 -107,000 -3.4% 1 RE 2 852,450 853,550 -1,100 -0.1% 1 RE 3- Office 448,000 423,000 25,000 5.9% 2 Corporate Acct 3,653,578 3,501,899 151,679, 4.3% RRSP 516,799 515,536 1263 0.2% TFSA 120,101 109,101 11000 10.1% Personal Acct 233,156 232,069 1087 0.5% Commodities 45,800 44,170 1630 3.7% Networth 8,899,884 8,816,325 83,559 0.9% Asset Allocation % Networth % AUM % Notes Equities 3.4 6.0 3 Fixed income/ Cash 47.8 84.3 4 RE 48.3 8.8 5 Commodities…Continue Reading “2018Q1 Networth”

My own investing experience has helped me realize that it is simpler to pick one strategy and stay with it. That may work for certain things with investing but there are other areas where that does not even begin to address the issues. Black and white thinking is simple but I would argue that it is certainly not easier for some things. Early Retirement There are a plethora of websites proposing early retirement. That may work for those who have clear reasons to stop their…Continue Reading “Binary Living”

2017 Living Expenses Category 2017 % of Total Notes Property Tax 9707 Home Insurance 1791 Electricity 699 Heat 1070 Home- Total 13267 28.1 House paid off Auto Insurance 1843 Fuel/ Bus 2423 Maintenance 576 Parking 296 Auto- Total 5138 10.9 Car paid off Food & Entertainment 13143 27.8 This is embarrassingly large but it is highly enjoyed. Clothes 2907 Haircuts 360 Gifts 3000 Kids’ Activities 1382 Health & Dental 3400 Pet 1828 Cellular 1747 Internet 1075 Total 47247 66.8% For the big three These were…Continue Reading “2017 Expense Report”

Many friends and family have wondered openly if I have vast willpower to not succumb to the siren calls of consumerism. I often find that odd since I always feel that I shop more than I want to. The following are instances where I know it is not about willpower for myself. Buying Stuff I tend to be a rather lazy person. I would much prefer to laze around all day reading books than to run around taking care of things that I own. So…Continue Reading “It Is Not About Willpower”