Welcome to our blog! This blog follows two average Canadian journeys to financial freedom. We decided to start this blog to track our progress while sharing our learning experiences along the way. If you like what you read, please subscribe and check back regularly. We would also like to apologize in advance for our poor grammar. Thanks, and Enjoy.
Slowly But Wealthy
We chose this name to highlight our beliefs of slow wealth building. Many people did not get wealthy overnight. Instead, they were disciplined and always stuck to their plans. Slowly but surely, you'll get wealthy.
Hi everyone, I am the Thrifty Salaryman. I am married, currently have no children, and live in the biggest city in Canada. With an Engineering background, I enjoy analyzing numbers and eventually developed an interest in analyzing financial data related to the stock market. Upon graduation from University a few years ago, I had my shot at the startup arena but never got as successful as some of the big tech startup companies. My attempt in being my own boss put me into a very bad financial position, so I decided to go back to working for a multinational corporation, and maybe trying again later in my life.
The goal of this blog is to track my journey into financial freedom from having a net worth of just $27,000 in the year 2017. I believe this can be done because it is all about smart financial decision making. I want to show the impact and outcome of every financial decision I’ll make. If it’s a good decision, I hope I’ll help you do the same, or help you make a better choice if it’s not a good decision.
I am a millennial(born 1989), married, and currently reside in Eastern Canada. I work with the government, getting paid an average salary, and live an ordinary life. I first started investing when I was 19. I opened up a Tax Free Savings Discount Brokerage Account with TD Bank, and invested all my savings I had at the time (~$1000). However, I ended up withdrawing it a few years later to pay off debt. When I graduated from University in 2011, I was able to get a government job, bought a house, and got married, but really didn’t have a good financial plan. Fast forward to 2017, my wife and I are expecting our first child, so I wanted some extra income to cover off the additional expenses. I began reading books and articles on finance and how to build wealth. I developed a strong passion to pursue the road to financial freedom.
My short term goal is to have my mortgage paid off in 3 years (~$160 000 left). My next goal is to have a net worth of $1 million by the age of 40, and my long term goal is to generate sufficient passive income ($15,000/month). I started this blog to track my own progress while sharing ideas along the way. Also, I wanted something for my kids to learn from when they start their own financial journey.
Neither of us is a professional financial advisor and all opinions and advice on this blog are not be considered as professional advice. We recommend doing your own research and seeking professional advice if required.
Wish we had set our retirement goals in term of "Income". Others will say its Total Return, Beating the Markets or amassing a large amount where one can draw 4% or 5% forever. But the real key is how much income your investments will generate and it should be a growing income.ReplyDelete
We obtained our goals thanks to the Connolly Report. Check out his site at http://www.dividendgrowth.ca/
We are not part of it, just a converted follower. It may help you achieve your goal much faster.
Thank you for your comment and your recommendation, I'll definitely check them out. I learned about the "income" mindset from reading "Rich Dad Poor Dad" by Robert Kiyosaki.Delete