Monday, November 12, 2018

FIRE and finding your why.

Recently I have learned what the acronym FIRE means when it comes to personal finance: It stands for Financial Independence Retire Early, which is pretty much what I am trying to achieve through the goals that I have committed myself to. Some people will argue that retiring early can make life boring, but for me retiring just means that I have time to do the things that I really want to do.

I have been reading a lot of books lately and learned that finding your why? before you start on a FIRE journey is really important. You need to figure out why you want to be financial independent before you'll be able to commit your goal. For me, my why is spending time with people that I enjoy spending time with. I also want to wake up knowing not having to every stress about money and knowing that my family is taken care of because I have enough money.

Short post today, but I encourage you to dig deep and start asking the why? Then once you have the answer, continue to ask why until the idea become so simple that it can be summarize in a few word.

Sunday, November 4, 2018

Neighbor Joe - Passive Income November $1,704/Year 2018

About a year ago I started to track my passive income as another way to track my progress. I like tracking passive income because it shows me an instant result of my investment. My brokerage account with TD has a very useful feature that shows the projected income for the next 12 months as shown in the screen shot below. 

I have done some reshuffling of my stock holdings which help increased my passive income from dividends. It is now at$1,704/Year or $142.05/Month. Not a lot but it is still a tax free passive income. What will you do with an extra $142 a month?

February 2018 - Update(1577.33/Year):

December 2017 Update($1463/Year): 

Original Post ($1024/Year):

Neighbour Joe - November 2018 Net Worth

My apology for my disappearance in the last six months, but it has been a busy time with work and I lost focus on this blog. But now I am back and hope to be more active with my post. Here is my net worth as of today.

Chequing: $335
TFSA Investment: $72,228
Real Estate: $224,000 (Purchase Price of my house)
Define Benefit Work Pension (Current Transfer Value): ~$153,000 (Last checked in Jul 2017,aprox $1000 a month of contribution)

*Automobile is not included (No monthly car payment)

Mortgage: $125,087

*Credit Card is paid in full every month

Last Net Worth Update: $310,745
Current Net Worth: $323,347 (+4%)

My net worth went up since I last posted not because I any exceptional return from my investment. It was mostly due to aggressive mortgage payment as well as putting money from my month pay into my TFSA. The key is to be discipline with your spending and aim to money aside each month towards building your wealth.

Friday, March 16, 2018

Time, the ultimate currency!

Today, I am going to try to put things in a new perspective and hopefully will either motivate you to start your journey or re-motivate you to keep going. The topic is that everything about this journey is related to time.

In 2011 there was a movie call "In Time" staring Justin Timberlake, which is enough for some people to go see the movie. I watched the movie because I was drawn into the concept presented in the movie where the universal currency became the time you have left to live. There is some truth to the movie, because currency is ultimately related to time.

You spend time to build your knowledge and skills which then translate to either getting a job or running your own business. Both of those will consume more of your time but you get money in return for your time. Therefore this can be written out in a simple formula: Time x Skills/Knowledge = Money. There is an old saying that time is money, but lets flip that saying, so money is time.