Introduction
It is my personal finance research. I came cross this letter in 2014 and was updated that my home equity line was no long available for me to withdraw. I like to do case study.
Case study
What I like to do is to check timing, how the decision was made based on the market. The letter was dated on 2014 June. Here is the folder.
I did not make any purchase of home in British Columbia from 2010 to 2014 since I know there is risk for me to take a loan. Even though the line is available for me to invest another property.
My home equity line was opened from 2006 and it lasted 15 years. The line amount is $58,000 dollars. Let us take a look the property tax from 1999 to 2018, and see what was the status of 2014. I had balance of $34,000 dollars.
It is easy to borrow but it is hard to return. I tried to find a very good business to invest from 2010 to 2014. I had hard time to proceed on the project.
I learned that it was hard for me to return since I roughly knew my weakness. I spent money on USA tuition $2,000 dollars and called it quit from 2010 to 2011 on my Ph.D. study, I paid using rental income; and then I spend money on the vacation to USA in 2014, $1500 dollars; I spent money on cloth shopping in USA from 2011 to 2014. Sometimes I paid using US credit card, I did not save the statements so I could not tell how much I spent.
The market in 2014 actually is not in the bottom of the market, 2012 is the bottom of the market actually.
Actionable Items
I was a single person. I was reminded by my sister in 2018 that I do not have high responsibility, therefore all my relatives try to get something from me. They do not want to pay their own bill. I can be easily emotionally manipulated by my relatives. My sister is a single mom and responsible for her teenage daughter, so she is more responsible and controlling of her expenses .
I will conduct some research and figure out my approach to solve the problems. Right now, I just educate myself using audio book Think and Grow Rich Audiobook 11 hours.
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