Second play - Rule #1 virtual workshop event

May 21, 2020

Introduction

It is my third vacation day to learn how to live with hay fever, so I can go back to work full time in short future. Also I like to learn one more time to replay one hour webinar from Phil Ruleoninvesting.com

Add more notes based on the first play

I choose red color for notes added in the second play. I started from 10:00 AM on May 21, 2020. 

21% American retire comfortably, easy steps to take to learn how to invest on stock market. 

Business approach - prove there things

1. Teach you, we can
2. You can learn by yourself
3. ...
4. 
   

By the end of this webinar, you are going to KNOW...

• How to reduce your risk in the stock market
• How to protect yourself from the downward moves that regularly come in the stock market
• How to generate returns of 15% or more by doing something really simple... while even the top mutual fund managers get just 5%
• How you can be just as successful as "rock star" investors like Warren Buffett by doing what they do... and I'm going to tell you how they do this. 

Rule #1 virtual workshop event

May 21, 2020

Introduction

It is one hour virtual workshop event. I like to take some notes what I learn from this presentation.

Ideas I like 

79% - run out of money in retirement
21% - doing great and can enjoy the money whenever how long they live

Jack Meyer - Harvard investor

Sec filing of Warren Buffet
Moat of the company - how to find the company?

10 dollars to buy using 5 dollars

Mutual fund manager - value is questioned, and cost of management fee is questionable.

Charlie Munger - 60 year partner of Warren Buffet

I have a life, and I like to relax and sit them wait. Event -> It's time to be greedy when other people are fearful.

Market - sell half price -> dream price, disaster helps - global things - Greece 2001
Industry crisis - 2010 Mexico well broke

IBM - shift - radically things
Recession
They have to beat those competitors ...
Rain gold -> time to go out with a bucket ...
Wash tub -> fill wash tub with gold

Three day workshop -

Focus - each punch, 20 punch whole life - 20 companies in life time, 4 or 5 of them, big margin of safety in the life

You have to have a lot of ...

Here's a recap of how this works

• Get the stock on your radar
• Understand the company in great detail... including its values
• Make sure the company meshes with your value system
• Wait for an event
• Understand the event and why the price of the company has plummeted

We are actually human. We are not genius. We are reducing the risk of the money on the table. 

Minimize the risk, take some money out of the market at right time. 

You cannot time the market - huge advantage - be nimble? Too big, it will crash the market - Warren Buffet for example

IBM - buybacks: Reduce risk 

Rule #1 strategy: R.U.L.E.R.

• Radar
• Understand
• Love
• Event
• Reduce risk

2011, 2012 tools for your 401 K could save you big drop in the market

51:50 Here's what you will learn:

1. How to buy a wonderful company for half the price
2. Know when to get out

Rule #1 

Here's what you're going to discover in our three days together

• Which companies to radar and how to find them, so you have about 50-100 target companies. 
• How to know the company is wonderful and the reliable sources to help you find these companies so that you only use correct information
• How to match your values with your money. People who attend the workshop especially love this. 
• How to find an EVENT, which is huge, because this means you buy a $10 note for $5.
• How to maintain your margin of safety so you protect your capital.
• And then we'll get into some of them ore advanced financial tools including derivatives, which is just basically options. Understand these and you'll reduce your potential exposure to zero, faster. 
• How to create a high cash flow in retirement so you're not eating beanie-weenie and struggling to survive

People pay $5000 dollars to attend. Best education to get. Warren Buffet tried to teach in 50 years. 

Spend three days with me. Turn into low risk and high return. 

Actionable Items

It is similar to boot camp. I do think that it takes time to learn and no one can be a super talent learner by going through 3 days training, $5000 dollar cost.

Teacher is the best. But reality is tough for any one to be a naive investor in stock market. 

Ruleoneinvesting.com

I love to be 53 years old

Nov. 10, 2019

Introduction

It is such a great topic called "I love to be 53 years old". I like to write down a few facts and arguments to support myself.

My experience

I am lucky to have health, a full time job with 10 years experience, and also I live in Canada. I like to work on a job not too challenging, and also I have freedom to explore so many things on the internet. I like to meet people, write coding blog, and also enjoy simple things in life without spending money. 

I added this paragraph to make my article making more sense. 

Facts

I also like to write down what I have learned through my wealth, how to grow rich; I like to write down my lessons. I have to push myself to be a learner. I also like to share with others, since I do believe that not every one is so smart and have good reading content when dealing with details. 

I turned 53 years old in Oct. 2019. Life is tough and I like the challenge. I like to be a frugal person, and also I have to work on my physical fitness, so that I can enjoy life better and stay health.

I left United States in 2010 April, but I own a condo back in the city of Boca Raton, I made the purchase back in 1999, and the price goes up value. I wrote blogs with tag called understanding my mortgage.

I also learned how to invest my USA 401 K and IRA this May, and then put into US stock market, the value goes up $1,900 US dollars starting this May. So my asset in USA is up, but less than $200,000 US dollars.

I need to work on my asset in Canada. I have not invest anything starting from 2010 to 2019. I have to push myself to be a learner, and also a problem solver. I like to learn to be a frugal person starting this May 2019.

One bedroom condo price is too high in Surrey or Colverdale, and I am thinking about moving to a small city like kamloop. But it is still too expensive with price around $150,000 old condo.

I have to learn how to grow rich and build wealth in Canada. I remembered that I brought $18,000 US dollars check when I came to Vancouver back in April 2010. I waste money in China on party with my siblings, and then wasted my saving over a year in one month vacation from 2012 to 2017, I did not learn how to invest in Canada from 2010 to 2019 May. I learn the lesson. I could not pay a down payment for a home, how come do I spend money like crazy. Emotion is so challenge for me to learn as a single person.

I am working on my Canadian portfolio called Victoria and RRSP portfolio. I have to learn how to manage the portfolio as well. Here are the blogs.

I was not a good learner from 2001 to 2019 May as an owner with 401 K and IRA in USA, I only put in the bank with minimum interest rate. I finally got the time to move those funds out of USA New York community bank. Here are blogs related to my IRA CD.

I am a Canadian now. How can I survive next 20  years in this country?

Personal finance 

I love to learn personal finance starting from May 2019. Even though I am not able to own a home in Canada, and I am 53 years old. I have to push myself to learn from my own experience.

References:
1. My Canada asset in 2010. Here is the blog.

How to build wealth and grow rich from 2010 to 2019?

Oct. 27, 2019

Introduction

It is hard than I thought to go over one year personal finance research. I like to write a blog called how to build wealth and grow rich from 2010 to 2019.

Year 2010 and city of Vancouver

I chose to land in the city of Vancouver back in 2010 April. I like to travel once cross USA to visit a lot of national parks. I did not think about too much about career, job search. I had hard time to build a career as a software engineer. I just got an immigration visa based on a skilled software engineer.

The condo in the city of Surrey, brand new is around $115,000 dollars. I wrote a blog to document my asset when I landed in Canada in 2010.

Year 2011 - 2014

I decided to get Canada citizenship as soon as I am qualified. So I did not set up a goal to be a millionaire as I was in my 45 years old. I was not so sure how good I could do in terms of a software programmer, and also I was a new immigrant.

I started to spend money on USA shopping trips, and then go back to old habit.

In Dec. 2014, I got my Canadian citizenship after I waited over 12 months. The process was so long and also I had hard time to rush myself to prepare my Citizenship test last two weeks before the test.

Actionable Items

My goal is changing from 2010 to 2019.

2010 - find a job
2011 -
2012 - Vacation to China, help my mom overcome difficulty
2013
2014 - work on Canadian citizenship, tennis, weight control first time
2015
2016 - work on Amazon onsite
2017 -
2018 - work on Amazon onsite, personal finance
2019 - work on Amazon onsite, Facebook onsite, how to be a millionaire in next 10 years?

Case study: personal finance bad habit associates with impulsive shopping

April 19, 2019

Introduction

It is my personal finance research. I found out that I did not spend time on my par tech 401 K from 2007 to 2019, I do not do monthly or quarterly or annual rebalance, I do not do the fund analysis or basic follow-up. I do not spend time to look into research about investor psychology. There are so many issues in the management of the account. This is all related how to value the time, value the community, value the money, value the research, value to reinvent myself. I believe that this is associated with my impulsive shopping problem and emotional problems, my decision making process.

Case study

I think that frugality study helps me to learn to separate wants from needs. 24 hours or 72 hours rule helps me to learn how to delay gratification. I also learn how to identify the short enjoyment of holding those clothes or items and short time period sense of ownership. I do not bother use them after the purchase.

I also learn from minimalism life style. When I did shopping coats, one time I drove my SUV and cross border to Bellingham, I bought six coats on sales.

I have to find ways to release my stress, or my social needs. Those emotions went to enjoyment of shopping from 2010 to 2017.

I also heavily shopped when I took vacation in China. My siblings were also very cooperative to allow me do this gifts shopping costing thousand Canada dollars in 2012, 2014.

I think that the way I understand what money is used for is so shallow. I allow myself to spend unnecessary extra coats, jeans, handbags, sneakers. I only wear off one pair of tennis shoes, I cannot wear any off another five pairs of tennis shoes. I do not know that I can just play tennis using my normal sports shoes.

I wrote the wechat post to reflect on the mistakes I made to treat my par tech 401K account.

Long term care and related issues

Feb. 18, 2019

Introduction

It is my personal faith from Bible teaching. I like to honor my mom, I paid my sister to support my mom every year $1000 dollars from 2010 to 2017, and then I spent thousands dollars on vacation from 2012 to 2017. My finance is the disaster, I start to investigate the issue starting from Nov. 2018.

Things I learn

I spent time to take vacation and learned a few things related to long term care. How we supported my mom and got her senior years living with people help.

Case study: Where I spend money from 2010 to 2019?

Feb. 18, 2019

Introduction

It is hard for me to adapt to be a Canadian. I did my personal finance research, and I like to case study and try to figure out how I can push myself to learn how to survive in Canada. I have worked full time in Canada 8 years 9 months, I like to push myself to learn more about personal finance and conduct my case studies.

Case study

I did my vacation study, I spent five vacations to China from 2012 to 2018. I told my brother and sister on December 2018, since my mom passed away in Nov. 2017, I will no longer take vacation to China. I like to be independent and find ways to have my own housing in Canada.

Case study of my airline ticket expense, here is the link.
Case study of 2012 vacation in China, here is blog first 24 months in Canada.
Case study of 2014 vacation in China, California, Florida, Philadelphia. 
    Here is the blog of vacation to California. 
    Here is the blog of vacation to Philadephia. 
Case study from 2010 to 2019 clothing expense, here is the link. 
Case study of wanted not needed on citi credit card. Here is the link. 
My sponsor application project management. Here is the link. 
How much I paid coach May 2018? Here is the link. 
My car maintenance. Here is the blog.
My saving rate from 2010 to 2018. Here is the blog.

Actionable Items

I need to learn how to avoid scam, and also I need to limit myself to reduce risk, avoid renting the car, drive less, and also need to learn where the opportunity for me to invest with a moderate income as a software programmer.

Case study: Airline ticket expenses

Feb. 14, 2019

Introduction

It is my personal finance research. I like to analyze my expenses of airline tickets, and I like to do a case study.

Case study

Here is the expense of my airline ticket.

2006 - I went to GM for onsite interview. I need to look into the interview again and see what I learn from the experience.

2008 February - I got laidoff from H1-B. I got a ticket paid by ex-employer and then went back to China, and applied F1 visa to get back to FAU.

2008 August - I went to Microsoft Seattle for an onsite interview. This was my first official onsite interview based on algorithm and data structure. I should have prepared those algorithms from 2001 to 2008.

2009 May - I went to Charlotte for a short trip, help a friend's family road trip from Charlotte to Boca Raton.

2012 February - I made a mistake to plan a one-month vacation. I paid expensive ticket, and I also paid by US credit card.

I also made mistake to spend over three thousands dollars for the vacation. Here are blogs related to 2012 vacation.

Case study: 2012 citi credit card statements

Feb. 6, 2019

Introduction

It is my personal finance research. Today I got 12 statement of citi bank credit card statement in 2012. I like to case study the expenses on the citi credit card.

Case study

It is the third year I worked full time starting from 2010. I decided to take a vacation in January, I started with asset in Canada with $17,000 US dollars, but actually spent over $5,000 Canadian dollars for one month vacation.

I review all possible mistakes I made, and I like to push myself to learn.

One is to choose wrong time to take vacation. I paid $1050 US dollars for Air Canada ticket. This is the first vacation I took after I landed in Canada in 2010.

My analysis

I should choose slow season to take vacation. I can get ticket around $550 Canadian dollars in May. I should review my shopping habit and learn how to avoid those shopping expense around $500.00 dollars.

Actionable Items

I need to look into how to take vacation to China. How to reduce cost and also discipline myself in terms of shopping using credit card.

It is so easy for me to save $500 dollar on airline ticket if I choose the vacation in April instead of January.

I should study Air Canada ticket round trip to Canada, and learn how to time the market in the lowest point.

One thing I like to push myself to learn is to learn to spend minimum on vacation. I should understand that the expense should be income - savings. If my asset in Canada is less than $20,000 dollars, I should not spend $4000 for a vacation.

Also if I cannot control expense on clothing, I cannot control my personal finance at all.

Case study: over 8,000 dollars wants not needs

Jan. 27, 2019

Introduction

It is my personal finance research. I do not know what is the way for me to learn personal finance; I like to figure out why I choose not to purchase a home in Vancouver area when one bedroom over 10 years old is around $130,000 Canadian dollars from 2010 to 2015. I knew that I did not learn how to discipline myself financially. I like to case study my USA checking account and what I spent on those rental income over years.

Case study

I like to do a quick and short case study. I like to find topics for me to work on. How to discipline myself? I have this issue to spend money on clothing and vacation, spending on relatives with compassion. But I am lack of financial knowledge to invest those money instead. All those are gone.

One thing for me to learn is that home is most important thing to purchase, at least I should make a plan on it.

Actionable Items

I need to get 2012 and 2014 citi credit monthly statements. I like to question every item purchase on the credit card. I like to build a value system and understand what is needs and what is wants.

I do not learn enough lesson without a job permit and without income; I should stop shopping anything except grocery and gas. And also I need to count miles I drive, document purpose and see if can lower the cost and choose alternative public transit.

Later on, I did not have money to maintain the minimum balance, I had to transfer money from Canadian bank. And then I had to figure out how to repair bathroom, hundreds of hours research and I had to work out to find a cheapest solution; I had to transfer money from Scotia bank to pay a new central AC installation.

Credit card spending is such a bad habit. I did take over 22 trips to USA Bellingham from 2011 to 2014.

If I learn compound effect, then I should invest those credit card expenses in stock market, then I can use those net income to pay later on bathroom repair and a new central AC.

Case study: clothing purchase from 2010 to 2019 on Scotia visa card

Jan. 15, 2019

Introduction

It is my personal finance research. I like to calculate how much I put on my scotia bank credit card on clothing shopping. I only can download 2013 August - 2019 Dec credit card statement, I had to look up some of paper statement from 2010 June to 2013 August.

Motivation

The reason I started to work on personal finance research is that I do not own any home in Vancouver are when condo price was low from 2010 to Dec. 2016. I was busy shopping trips to USA bellingham, and then spent thousands of dollars to maintain the car, and I had vacation to China in 2012 and 2014, 2015, 2016, 2017, 2018.

Case study

I finally came out the minimum number spending on clothing. It is $6895.00 dollars.

It is not most important how much I earn. It is important how much I save. I just worked on my 1998 to 2002 clothing shopping, the amount is over $6,000 dollars. I just worked on 1999 citi credit card statements analysis by categories, $8000 dollars out of $10,000 are not needs, they were my wants. When I left USA Florida, I did not know how much I spent on credit card 1999. All I knew is that I do not have any money left, only $17,000 US dollars.

The habit stays the same from 1999 to 2001, and I did same thing from 2010 to 2016. I need to break the bad habit.

Actionable Items

It is not how much I make. It is important how much I save. If I learn the lesson in USA Florida from 1999 to 2001, then I may save those clothing expenses. I start to learn how to invest.

One case study I did in Nov. 2018, a chilliwack condo with price $55,000 from 2010 to 2016, now it is selling around $150,000 dollars.

Small leaks will create a big problem. One pen, one paper, one diligent heart to write down every dollar I spend. I should record and review all expenses.

What is fashion? It is time for me to learn

Jan. 15, 2019

Introduction

It is my personal finance research. I cam out US dollar amount I spent on clothing in 1998, 1999, 2001, 2002, 2007. I spent over $5500 US dollars. I did not learn what is the art. I made over $3500 Canadian dollar from 2010 to 2018 on clothing as well, I plan to spend time to do analysis in short future.

What is fashion? What is the art?

I like to do some research on this topic. I did not learn personal finance, I found out that I kept making mistakes on fraud auto shoppers, buy same cloth 4 pairs in superstore in 2012, in Shanghai vacation.

Case study: Biggest three mistakes as a home maker in 2002

January 1, 2019

Introduction

It is the idea to write top three mistakes I made from Sept. 2001 to August 2002 as a home maker. I decided to study bible and learn to be a Christian, I baptized with my mom in 2001 in Palm Beach Christian church. I like to do a case study on this topic called biggest three mistakes as a home maker.

Case study

I stayed at home and invited my mom to come to Florida second time in 2001 Sept, I made so many mistakes in terms of being a good person in the community and also in my personal finance.

I made so many mistakes and it was so hard for me to learn how to make a living without income. I just made net income over $110,000 US dollar from 1999 to 2001 two jobs in three years. But I did not calculate how much my net income is. I only had less than $20,000 US dollars net asset in my checking and saving account. I burned net income with $90,000 dollars with a 3 years old Ford Explorer with $8000 debt (I paid 27 installments + $3000 down payment), a mortgage, paid off my mom's home and internal furnished ($8000 US dollars), all those cashes went away under pressure of relatives, vacation to Shanghai, long distance phone calls with arguments (60 cents/ minute international long distance), furniture, vacation to California, New York, and Smoky mountains, Miami, Orlando (4 round trips from Boca Raton to Orlando from 1999 to 2002).

Overspending problems

I still paid $2,000 US dollars to my relative after I paid off my mom's home. I paid one way airline ticket to invite my mom to visit me in 2011 second time. I like to live with my mom and try to help her recover from her first stroke in her 70s. She was 70 years old.

I did not have skills to make a living and learn how to save money. I had to push myself learn and live without income in USA.

Waste of food

For example, I bought a bag of white flour, more than 50 lbs from Costco. I tried to learn how to make bread, and then I tried to learn how to use baking soda to make a bread. After a few months, I threw away whole bag of white flour since there were some bugs growing inside.

I also have to learn how to deal with my loss of job, learn how to handle finance challenges. I decided to attend bible study in a small group.

Liabilities

I had car loan to pay every month $376.95 (47 installments, 20 left, $7539), and mortgage to pay $480/ month for a condo, and also I had to pay food and gas and car insurance etc.. Only thing I learned is that Ford manufacturer interest rate is low as 1.99%.

Careless and minor incident

I made a lot of mistakes in terms of driving my car Ford Explor 1999. I did not pay attention to what I did, one time I forgot to close gas cap, the light shows to check gas; I called my friend to ask his advice, and I tightened the gas cap.

Bible study 

I already built a bad habit to show off the wealth. This is the first time in my life that I chose to be a Christian and learned to be humble. I stayed with bible study small group and I chose to be a Christian.

Canadian immigration

I had to push myself to overcome the stigma on myself. I learned that it was hard for me to make a living now. I did not have permanent resident in USA, I started to search for my opportunities, I consulted the Canadian immigrant, I did not have enough score to immigrate to Canada, I missed two points; If I have a spouse with a university degree, I can add 3 points; Or if I have a relative in Canada, I also can have additional 3 points. I had to stay in Florida.

Biggest finance mistake 

First thing I found out today, this New year's day, the biggest financial mistake I made in Feb. 2012. I sold VIGRX mutual fund in my IRA account. Here is my blog.

I may argue to myself that if I do not learn what is growth index fund, then I will sell it as a loss in next recession around 2008 as well.

One of ideas is to purchase the growth index fund back in next recession in 2008. When I closed stock and IRA stock account in 2010, actually I should put everything in VIGRX growth index fund instead, 15 years lowest point, 15 years implies from 1994 to 2009.

Actionable Items

One thing I analyze today, new year's day after more than 17 years.

Case study: 2014 June NYCB home equity line update

Dec. 29, 2018

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.

Think about how many square foot in the city of Yichun

Dec. 27, 2018

Introduction

It is very simple thing to do. But I have to write down and push myself to train myself, do not get emotional. Think carefully, hold principle as a business woman. Discipline myself to identify wants and needs.

Do not buy luxury

I used to purchase a super expensive SONY laptop $1800 US dollars in 2002. I did not have permanent residentship in USA, I may not have income at all. I could not control impulsive to shop a laptop with 12 months interest free in 2002. One thing I can do is to think about $1800 US dollars, exchange it to Chinese yuan, and it was $16,200. In 2002, the home price in my home town Yichun is about $800 yuan. That is 200 square foot home.

The tip is to calculate how much I can pay for the home in the city of Yichun.

Do not give away cash gift

I used to give away cash as red packet in 2012 vacation Chinese spring festive, $2000 yuan each time. I paid for food $4000 yuan as well. Think about the value of the money, how much I can purchase in term of square foot in the city of Yichun.

You are still the same

Dec. 26, 2018

Introduction

I like to write a story, it is based on the true story; I like to review it as a research and education purpose, it is for personal finance research purpose. "You are still the same." My young sister made comment on me in 2012 or 2014 my China vacation. I gave out thousands dollars away as red packet, and also gifts I spent over a thousand Canadian dollars. My young sister did not give away gifts at all, she tried to protect her income and reduce expenses.

My spending problem

There is one issue related to self-esteem. If you have low self-esteem, then you may try to spend money to please your friends.

I worked on minimum wage a lot of years, and also part time a lot of years. I understood that the business mindset is so important. Try to create more income, control your expenses, document all expenses, analyze myself as a consumer, how to make purchase decision.

In 2001, I spent money to take my relatives to Shanghai for 3 day trip, I paid over $5000 yuan for a trip with a group of six people for train tickets, a personal with college degree in China in the city of Yichun, 2 years salary I guessed. Now back to 2012, I was still the same person, spending 18 months full time savings for one month vacation, $5000 Canadian dollars.

It is time for me to learn to be a responsible person.

Learn to be more responsible like a single mother

Dec. 24, 2018

Introduction

I had a young sister who is a college teacher over 25 years. She talked to me recently over 20 minutes, and then she said that she has responsibility to her daughter. I like to do research about responsibility. And she advise me since I stay single all the time, I have not developed the sense of responsibility enough. I like to write a code blog to push myself to research on this area.

Stay single but being responsible for myself

I like to use this to explain why I had impulsive shopping in 1999 with a brand new Ford Explorer, in 2002 impulsive shopping laptop, in 2012 one month long vacation with over $5,000 Canadian dollars.

As a mom with a daughter, my young sister tried not to pay any money instead of offering service. She lived with my late mom 8 years and worked as a college teacher and let my nephew stay with her as well, she can offer guidance on his study as an aunt, a college teacher.

I did the opposite over last 20 years. I paid all expenses, I chose not to say no to payments. I paid all expenses for those vacations and a home for my mom.

I have not changed my decision making process, I think that I should make changes in 2010 after I failed so many things and not so positive future ahead financially and career wise.

I had so tough time from 2002 to 2010. After I landed in Canada in 2010, I was over 40 years old, my asset in Canada is $15,000 dollars, but I had loan over $38,000 dollar on my condo.

I still paid $1,000 Canadian dollar cash to my mom even though I was in tough situation starting form 2010, I had no security with the current job, I did not have enough asset in Canada. I need to learn to negotiate with my sisters, my rich physician sister and high paid school teacher should give more support compared to my financial difficulty.

My younger sister chose to argue and negotiate hard to avoid pay using her cash. She chose to use those money to invest on stock market. She was tough to handle sister bully and be very tough for controlling expenses.

My young sister never had the chance to make high salary as a college teacher, but she learned to purchase stocks, and learn how to learn by herself to make profit in the stock market.

I decide to choose my young sister as my role model, I need to push myself to learn how to develop more responsibility and improve my decision process.

Being responsible 

I have to carefully review my attitude towards money. I have to carefully document those mistakes I make over a few decades. And I like to find areas I need to work on.

It is never too late to fix things in my life. I am a strong problem solver and I like to adapt my talent to my personal finance.

Case study: Western union money transfer history

Dec. 23, 2018

Introduction

I made so many mistakes in early 2000, I spent six thousands dollars to pay for a home for my late mom; and then later I paid over thousands for her trips to USA and other travelling cost in her early 70s. I like to do a case study since it is time for me to learn from my mistakes and things I have to learn.

Case study

I did not do booking every year. I do believe that if I work hard, then money will follow. But it does not work very well. Recently I started to dedicate my time to do personal finance research. It is my first time to read those transaction history through my scotiabank history of transfer.

I like to look into this issues. I think that one of things I have to push myself is to learn to negotiate, and learn to find alternative ways, and build relationship with local banks, and do business through investment. West union is an easy way but I never learn anything through those hard earn money.

What I should do is to invest some money and create win win solution for me and also my mom. Maybe I can purchase a home and use me and my mom's name both in 2010. At that time, my sister paid a 2000 square foot only with $100,000 Chinese yuan, she paid $100,000 yuan to put everything inside the unit, a few years ago she sold for 100% profit. She invited my young sister to purchase one in the same community.

Another thing is that I should review my income and expenses every year. And also I need to try to get relationship with other siblings as well, compare notes, exchange my bank transaction to other siblings, make it public, and share the lessons I learn all the time. I have a sister who is a college teacher, who is good at investing on stock trading; a physician and a middle school teacher.

I have to handle 2018 project, I paid over $4000 Canadian dollars, I tried to show my effort to push to collect the payment. I looked up the internet and found those transactions to share the payment, since I was pushed to pay by my siblings before.

I tried to reveal what I did to other siblings since I paid to my mom through one of siblings to my mom. I paid cash $5,000 yuan if I did not use western union transfer. I spent over $4,000 Canadian dollars for two vacation each time in 2012 and 2014.

I do not try to solve my own problem in the city of Vancouver near 10 years, but I tried to pay all the expenses for entertainment purpose. That is not acceptable for me to review and audit those expenses.

Actionable Items

I spent time from 2010 to 2018 working full time, but I found out that there are some issues related to my savings. I think that most important is to stay financial independent, and also be able to stay emotional independent. Do not mix money with emotions.

Personal finance is so tough game to play. My sister kept telling me that you are a Christian, if you pay the relative's bill, you will go to heaven. I just show the facts to her, how much I paid through years. This is the first time I reviewed my transaction history with her first time. I learned the lesson to share early, build relationship with other siblings.

To learn person finance, it is time for me to push myself hard to review, audit, and learn how to solve my problems in terms of problem solving, working with people, and do the right thing right time.

Follow up 

July 27, 2022

I like to review the blog and write down my understanding of my financial history. 

Case study: 2012 China vacation one month

Dec. 22, 2018

Introduction

I spent more than one hour to go over the expenses I spent in China one month vacation in 2012. I just could not believe how much I spent. I had debt in USA over $30,000 US dollars in 2012. I like to write a case study on this one.

Case study of my vacation in 2012

Beside the above expenses, I paid for $7000 yuan for airline ticket, $3000 - $4000 for two long distance road trip, and also all other expenses.

I also gave out cash gift over $2,000 yuan called red packet in Chinese new year to relatives. My asset in China is zero, I took out cash from Scotia debit card every day at most $400 Canadian dollars.

I like to go over those purchases and find all kinds of decision making. Why I made the purchase decision, what problem I need to look into solve.

Vancouver airport clothing Hudson

I came cross the jacket with Canada on the sleeves, so I made purchase four of them, giving away as gifts to four sisters. $100 dollars for gift. Do I plan it or not? Have a budget?

Why I paid for expensive medical exams?

I like to go over my decision process. Do I apply 10 hours rule if I decide to spend over near $600 yuan to do medical exams? What is impulsive shopping for medical service? My sister told me that she got annual free exam, and then she shared the exams she had. I immediately went for the exam, and I did not care if Shenzhen is most expensive city compared to my hometown.

Why I chose to spend vacation in January?

The airline ticket costed me over $1000 Canadian dollars. I chose to purchase those foods from Costco. I spent over $100 Canada dollars for extra bag, and then I ended up to pay for all gas $1 yuan/ km to China. Since the train ticket ran out in Chinese new year.

The Air Canada round trip in slow season can be half of the price, I only need to pay less than $3,000 yuan.

Why I purchased expensive leather coat?

Since my sister told me she paid $5,000 RMB for a leather coat, usually she told relatives fake price. I ended up to spend hours to shop the leather mall to purchase a $1200 yuan leather coat.

Looking good but going no where. I need to learn this principle related to personal finance.

Here is the leather coat's receipt.

Healthy food or all kinds of snacks in China

I spent near $1600 yuan in Canada to bring to Yichun, and aslo spent over $2400 yuan on food, all kinds of gourmet food. Food is the biggest waste as well. I paid over $4,000 for one month vacation.

Here is the Costco receipt.

Why round road trip from Shanghai to Yichun?

I prayed the road safety for the trip. My brother was the driver. I came out the idea to purchase food over $500 yuan for road trip, all kind of fresh vegetables etc. to help the driver to stay alert. That was the first day road trip from Shanghai to Wuxi, and then Wuxi to Yichun. 

I paid for all gas and tolling fee from round trip over $2000 Yuan. I also stuck on the highway overnight and slept inside the car on rest stop on highway overnight when my brother drove from Yichun to Shanghai. There was a car accident and we got stuck early in the morning from 1 AM to 3 AM.

The road trip was not safe at all. A lot of speeding and all kinds of issues.

Why round road trip from Yichun to Shenzhen?

Actionable Items

I need to learn how to plan, budget in my personal finance every day. All problems came out and I noticed the danger everywhere. Road trip safety, food safety and all other issues. I tried to cash out crazy with so many $2000 Yuan withdraws.

Do I have to take vacation in Chinese spring break? 2014 I took the vacation again in spring festival, again, I spent over $4,000 Canadian dollars again. In 2014 December I became a Canadian citizen. My coworker as a sales manager told me, Julia, you are a Canadian citizen now, we just had one week break in December. All projects just started in New year. I listened and understood that it is not a good decision for me to a full time programmer to take two weeks a break in Chinese spring festival.

I no longer took my sister's advice to take vacation in spring festival. But not for financial problems of spending problems.

With the above review, I did show poor planning, no budget, impulsive shopping, indulge in food, solve problem without carefully considering the cost, under influence. The vacation was too long, I spent money on the road trip.

Ideas to cut expenses

1. Do not purchase food from Costco, $1600 yuan saving, plus extra bag fee charged by airline;
2. Avoid road trip, it is expensive and not safe. I should not choose to pay fee on road trip over $3000 yuan.
3. Avoid time in Chinese spring festival. Choose April, make it short as one week. Airline ticket saving is $3000 yuan.
4. Do not purchase clothes in airport Hudson, $800 yuan saving. Do not give gift to others, they all are adults.
5. Use vacation day to spend time to go over medical exams if need in Canada. Saving is $950 yuan, I should not choose to do exams in Shenzhen. Choose to study some youtube.com video, learn something cheap.
6. Do not need so many coats. I purchased expensive leather coat $1600, one coat full retail price $400 yuan, three on sale, $100 dollar each. Two other coats for myself, two for my mom as well.
7. That is the last chance that I can purchase a home in China as a Chinese citizen. I do not make my sisters and brother as a business partner, I wasted time on parties on food and nonsense.
8. I am not a good role model for young generation. Discipline, hard working, and self-control on personal finance.
9. Red packet to give out cashes, pay all road trips cost even my brother has to take the road trip by himself for business. This is time for me to negotiate to share the cost.
10. I allowed the relative to act financial irresponsible through road trip. I got into highway and stuck in the middle of night on the highway.
11. Get the salary in the city of Yichun university, a teacher over 20 years annual base salary. Use that to determine how much I should spend in a month.

My asset in China

Dec. 22, 2018

Introduction

It is so hard for me to write on this topic. I went back to China last 22 years a lot of times. I always want to purchase a home for myself in my home town Yichun city. Until last year I found out that I cannot purchase a home any more since I am a Canadian citizen starting from 2014.

What is my asset in China?

I do not have any asset except $20,000 Chinese deposited into China bank in 2014. Since I planned to support my late mom. At that time, she started with dementia over 83 years old.

I earned my interest starting 2010, first two years 3.25%. And now it is 1.75% interest annually.

I need to figure out how to build wealth in China. Instead of spending $5,000 Canada for a vacation one month in 2012, I had to support my mom as a daughter. Now I have no excuse to waste money in China, I have to push myself as an adult, and then figure out how to build wealth instead of spending.

I documented my mistake in 2001 to spend $5,000 us dollar on a vacation to China, and also I took extra trip to Mexico to get visa for H1-B first. I learned the vacation costed me money I could pay for a condo in the city of Yichun in 2001.

I learned the lesson to make a plan, adapt to life challenges based on society, countries, and economy and other things.

Learn how to apply 10 hours rule

Dec. 22, 2018

Introduction

I like to write a blog and then do some research about how to apply 10 hours rule. I spent a few hours to review my 2012 vacation shopping expenses. I like to conduct analysis, and then I like to figure out what kind of person I am as a consumer. What are my weakness as a consumer?