Introduction
It is my personal finance research. I like to write a short case study for me to look into my decision making. How should I review my decision process and make it work for me as a 53 years old single Chinese Canadian citizen.
Case study
Recently I got an approved loan from Scotia bank, $150,000 Canadian dollars, and then I have $65,000 dollars in my TFSA account. I am looking int the condo market.
The cheapest one is in Surrey this week, $199,000 dollars for 400 square foot, back in 2017, it is $100,000 dollars. Here is my blog. 40 years old.
I did look into one unit in Chilliwack, $179,000 for one bedroom, current rent is $650, sold out quickly. 40 years old.
My USA asset is doing ok after I left USA 10 years. My condo in Florida has much better market change, which increases over $50,000 US dollars, market value is $135,000 US dollars. But my 401 K and IRA account has been messed up since my finance illiteracy. I put them back in stock market in May 2019. It is hard for me to accept myself, I chose not to get depressed, and take as is.
Now I have to pay rent around $480 dollars, covering my wifi, water and parking and all other things. I use pay as you go to save my cost of living for my mobile phone service. I also get Skype account and pay $60 US dollar annual fee.
My problem is to work less hours since I do not discipline myself, I take chance to put safety first to take a few hours in heavy snow day.
My problem is that I never manage over $100,000 dollar portfolio. I have to learn how market works and learn so many basics in my 50s. It is hard and I have to constantly remind myself to learn basics, do not speculate, invest long term.
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