Date my money - third date on my money

Jan. 13, 2019

Introduction

It is my personal finance research. I learn that I need to date my money, I need to set up fourth date on my money. I documented my first three dates early this year by using tag "Date my money".

My fourth date

This one is not an easy date. I have a CD over $2600 New York community bank in the city of Boca Raton. It is not an IRA CD, I can break 6 years term. I like to break CD term of less than 2%, and I like to transfer to US Chase bank my checking account, and then I will write a personal check to my Canada scotia bank. I will go to kingmark to sell US dollars to get Canadian dollars.

It is a complicated date. I like to get into more structured way to describe and push myself to learn how to date better next time.

New York community bank - CD with six year term - break the contract
Chase bank - transfer $2600 US dollar to Chase bank
Scotia bank - US saving account - write a personal check from Chase and deposit to Scotia bank
Scotia bank - wait 21 business day, cash to sell in kingsmart, save personal check fee $7.5 dollars
Scotia bank - save 1.3 * 2600 Canada dollars. The rate is 1.32, 3348 Canadian dollars, 748 extra dollars.

That is my date, I will cover the loss of my three transactions from 2010 to 2017.

Learning process

US saving rate from 1.2 to 2.85% in Jan. 13, 2019.
But Canadian dollar worth lowest value compared to US dollar, now it is 0.75
I bought us dollars $3600 for a central AC for my boca raton Condo
I bought us dollars using Canadian dollars,  $22,000 Canadian dollars -> $18,000 US dollars
2010 April 23, I sold $17,000 dollars one deal -> $15,000 Canadian dollars

I learn from lottery winner, quickly gain and quickly loss. One thing I like to do is to protect myself to avoid this problem.

1999 I spent $2,000 on clothing
1999 I spent $6000 on material things, vacations, and restaurant, gadgets
2000 I spent $2,000 on clothing,
2000 I spent $6,000 on material things, my mom vacation, and restaurant, gadgets
2001 I spent $5000 on China vacation in August,
2001 I paid for six people vacation to Shanghai over near 2000 us dollars

What did I learn from those money mistakes? Am I bread winner hard working? Am I a lottery winner?

Case study: RBC bank and my date with mortgage

January 8, 2019

Introduction

It is my personal finance research. I came cross the article called cross border mortgage in google search. So I visited RBC bank today. I like to date my money, and try to get some mortgage advice.

Bank willing to work with US asset

I am banking with Scotia bank. I set an appointment with scotia bank and tried to sell RRSP fund and plan to purchase Scotia index fund. I like to get into index fund for next 12 months. I need to learn to watch the market and discipline my behavior. I did personal finance research and then I found out that I sold VIGRX in 2002 and then totally forgot it.

I am a single person but I should try to make opportunities for me to date my money, so I can learn from bank mortgage specialist and new graduate from top universities in Canada who works for those banks.

I know that the market is too high and a lot of people gambling the real estate. I should time the market and now it is too late.

Paper work to prepare

1. Last three month USA chase bank statements for my rental
2. My US asset last three month statements
3. My Canada asset last three month statements
4. My Property tax and condo association fee for rental property, rental income.
5. My social security in USA and other
6. 2016 T1 General
7. 2017 T1 General
8. Notice of assessment
9. 20% down payment

Date your money - No. 2

Dec. 27, 2018

Introduction

It is a simple idea to purchase more Canadian dollars using US dollars. So I cover my loss in my three transactions over years. I also like to learn how to date my money.

One deposit

I went out to deposit a check from USA checking account to my Canadian USA checking account. I plan to purchase Canadian dollars later. It will take 21 business day to go through the transaction.

Actionable Items

I need to practice small transactions so I learn the importance to play with the market. Be consistent.

It takes 20 business day to process deposit. I checked on Jan. 30, 2019, the US dollar $3,000 is available now. I like to purchase Canadian dollars in short future.

Date your money - No. 1

Dec. 27, 2018

Introduction

I have one week break since it is holiday season. I like to go out to learn how to do business in this cold winter weather. More than two months ago, I spent time to do case study of $17000 US dollars to purchase Canadian dollars in April 23, 2010. Here is the blog. What I learn is to date your money. Try to find a good solution to cut loss to minimum.

Go out to purchase Canadian dollars

I went out to kingmark to purchase Canadian dollars. It is my baby step to learn how the exchange rate goes up and down. How should I do the work and make myself better?

Dec 27, 2018

Rate: 1.350 / invert rate: 0.7407407
Scotia bank: 1.3257 

Actionable  Item

It is my baby step to train myself to learn personal finance. Get educated, learn my own mistakes first.

The difference between kingmark and Scotia bank is 0.0243, in other words, 2.43%. My transaction in 2010 with $17,000 US dollars, if I choose to exchange with kingmark, then I can save 413 dollars.

Learning personal finance takes patience and also I need to push myself to think slowly, think one thing a time.