Humility is a useful investment trait. Overconfidence is a terrible crutch. Unfortunately, I have come to believe that there are many things in life that one must learn for themselves. I read many bloggers who profess that they have the “correct way” to invest. And their confidence is alarming. That is one area where I have zero pretension about being an expert. There is likely very few experts in this arena. I also believe that there are many options for one to strike it rich….Continue Reading “Humility”

I enjoying listening to financial podcasts. But I hear a lot of noise about lenders and credit risk. One of the things that I am good at, is to be simple. There is a reason I have fully paid off mortgages. There is a reason I do a whole host of things. I regularly try to minimize risk in my life when possible. Real Estate Risk Pay off the mortgages on all personal property. I did a modified version of this even when I held…Continue Reading “Stay Simple With Finances”

I have been reading all about FIRE lately. I so-called retired when I was 36 years old. I never told anyone. I also was not asking for permission nor was I trying to get a majority vote. This was a very personal goal and it really was no one’s business. This was between my husband and I. Since he was too busy starting his new practice, I suppose it was really my business. Thankfully we have always encouraged one another to do as we wish….Continue Reading “Show Me The Money (Guarantee)”

I have visited my accountant to review options with the new CCPC (Canadian Controlled Private Corporation) changes. The issue with the SBD or small business deduction and the new 50K per year passive income rule. For every dollar earned passively above the 50K per year, you will lose 5 dollars of SBD room. Once you are up to 150K per year of passive income, you would lose the entire amount of lower taxation for business income. If you lost the entire amount, it would equate…Continue Reading “Dealing With CCPC Changes”

I believe part of my regular happiness stems from the fact that I sort of lack ambition. Not for everything but I do for a lot of things. It struck me recently when I met up with some more medical colleagues. I notice when physicians talk amongst themselves, it is sort of a one upmanship contest. The latest and greatest offering has to do with being “invited” to restaurants where no one could ever get a reservation except with special connections. I wonder if this…Continue Reading “How’s Your Neighbourhood?”

Recall the movie Fight Club with Brad Pitt? The first rule of fight club…. When it comes to personal finance, there most certainly is the first rule. And that first rule is to stop spending so much money. If you can not stop your crazy a$$ spending, your investments likely can’t save you. Akin to school, saving money is the kindergarten level while investing is more like high school. Here is a recent example. I recently visited a colleague and his family. The couple has…Continue Reading “The First Rule”

This is a fun post for me. I will document how I bought my personal home. I have been reading blog posts dealing with issues of the Doctor House. This was my journey. The Homes House 1- The old house my husband bought before we married. House 2- A duplex purchased with my parents. House 3- Our current multiplex. Shortly before we married, my dear husband had the grand idea of buying an old house on a large plot of land. It was only liveable…Continue Reading “The Anti Doctor House”

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”