My personal finance research progress report - 2019-03

March 14, 2019

Introduction

It is the first time I decided to start personal finance research started from Nov. 2018. I also like to work on 10,000 hours in order for me to master basic principles, rules, and build very good personal finance habits. I may have spent over 500 hours to study on the personal finance research last 5 months.

Progress report

I like the personal finance research. It is a new world for me. I find that there are so many things to learn, books to read, videos to study, and ideas to think about; I do not have a lot of asset, but I spent 23 years in United States and Canada. This is the first time I like to get educated from youtube.com videos, books and talks.

I like to be a self-learner. I learn from my own experience to how to get a gold medal, top 4% rating from over 10,000 players on hakerrank.com. I know the term called mental toughness.

Here are some highlights I did, and I like to use them to showcase my progress.

1. I make a few purchases of Canadian dollars, called date my money in series, I, II, III, IV .
2. I did some case study based on my citi credit card statements from 1996 to 2017.
3. I also reviewed all documents based on papers, and documented them first.
4. I did spend time to learn stock market, economy, and money, and I find some good mentors.

Milestones of personal finance research

Nov. 12  Home price study, $100,000 up in 2 years
Nov. 14  Mint app
Dec. 15  10-15% saving from paycheck 2010 - 2018
Jan. 14  Francis Kong   personal finance, major leak/ min leak. One pen, one paper, diligent heart
Jan. 16  Citi bank, credit card statements available from 1996 to 2017
Jan. 13  Date my money
Feb. 9   Lottery winner study
Feb. 12  Mental accounting, investor psychology study
Feb. 22  Warren Buffet
March 10 What if I sell the condo in Boca Raton

I started from frustration and worry about housing problem in Vancouver, and then I started to learn personal finance. I found out that I do not do basic personal finance habit check. I do not keep all bank statements, receipts, and I do not do any annual analysis from 1996 to 2017.

I have to push myself to learn and find my personal finance data. One thing is to start to sort out all paper works I saved from 1996 to 2017, and second thing is to find out citi bank credit card statements from 1996 to 2018. I started to analyze those statements.

I also started to work on case studies; whenever I learn things from youtube videos, books, and articles, I also try to apply to myself. I love those case studies.

My top 10 favorite case studies will be listed here.

Eight year nine months

Feb. 14, 2019

Introduction

It is my personal finance research. I like to write a blog to celebrate my current job eight years nine months.

Eight year nine months

I have been on my current job eight year nine months. I like to write down a few things I learn through those years.

I worked on Amazon code screen in 2014. I wrote really bad and sloppy code in 2014. I started to push myself to learn and be a more competitive programmer.

Interviews

Here are some facts.

2006 GM onsite interview
2006 Siva-> Par Siva -> startup experience 16 months experience

2008 Microsoft onsite interview
2009 Microsoft phone screen. Here is the blog called possible triangle.

I started the programmer job from June 2010.

Microsoft
A phone screen from Microsoft 2012. Here is the algorithm
A phone screen from Microsoft 2014. Here is the algorithm, I got some advise from a principal engineer from Microsoft.
A phone screen from Microsoft 2015. Here is the blog.
Microsoft code screen on April 2016. The algorithm blog is here.
Phone screen with Microsoft Vancouver Oct. 2017.
Code screen with Microsoft Seattle in July 2018

Amazon
A code screen from Amazon in 2014.
A code screen from Amazon in March (passed one, but failed one)
A phone screen from Amazon in May 4, 2016
A code screen from Amazon in May 13, 2016 (passed two algorithms)
My first onsite with Amazon in June 2016 in the city of Vancouver.
Amazon phone screen in January 2017
Amazon code screen in July 2017 (passed two algorithms)
My second onsite with Amazon in June 2018 in the city of Seattle.

Facebook
An face-to-face interview with Facebook in January 2015 in the city of Vancouver. I learned that I had so much stress and did not know how to communicate at all. Here is the blog.
Phone screen with Facebook Seattle in July 31, 2018.

Google
My first phone screen with Google in April 2017. I developed strong interest into heap data structure, here are blogs.

Global Relay
2017 phone screen

Copperleaf
2017 phone screen



Pramp.com
Over 300 phone interview practice on pramp.com

Interviewing.io
Over 100 phone interview as an interviewer on interviewing.io.

I have chance to meet top talent people in the world. And starting from January 2018, every week I reserve 4 times a week at 10:00 PM to discuss with people on algorithm and data structure using interviewing.io.

My personal finance

I started to work on my personal finance research from Nov. 2018. I know how to do a good job for myself to learn personal finance, start to build good personal finance habit from Nov. 2018.

I tried to document my expenses, and then I learn that I should push myself hard to learn the basics of personal finance.

I think that it is more important to learn personal finance compared to algorithm and data structure; I have to learn how to solve my personal finance problem. I need to push myself to grow rich and build wealth.

With a full time job, I should push myself to save as much as I can. Time is almost running out!

My philosophy

I like to train myself hard on algorithm and data structure. I need to go back to work on coding every hour, solve a medium level algorithm every hour every day.

What I like to do is to build wealth and grow rich. I like to learn personal finance and investment, and I like to continue to work on data structure and algorithm practice as well.

I do believe that the experience I have related to software development will be my asset, I can easily adapt those skills and perseverence into my personal finance, investment, rental business, and IRA accounts management, and other area related to relatives, helping young generation etc.

My personal finance remembrance day

January 1, 2019

Introduction

I like to choose Feb 27, 2002 as my personal finance remembrance day, more than 17 years ago, since today is January 1, 2019. I sold the mutual fund VIGRX in 2002 and took $1000 dollar loss and then forgot it. I come back in 2019 new year's day, work on personal finance research and found this biggest finance loss in my personal finance. Here is the blog. I like to make Feb 27, 2002 as my personal finance remembrance day.

How to educate myself and keep learning?

It is most challenging for me to learn and open, stay confident on USA economy. I had one laidoff from a startup called Trendium in Sept. 2001. I had time to think about my loss, and also I chose to be a Christian and I like to have a happy life in 2002.

I do not know why I cannot find opportunities in my life to build wealth. I decided to start to work on my personal finance in Nov. 2018.

Follow up 

March 11, 2019

After more than three month study of personal finance, over 300 hours study, I learn the concept called psychology finance, one of common mistakes in investments are called loss aversion.

I tried not to lose money, even in the short term. I chose not to study personal finance, stock market, Warren Buffet at all. I just made decisions based on my emotions.

The idea is to hold VIGRAX fund on the long term.

Road to personal finance excellence

April 17, 2019

Introduction

I like to learn how to get on the road to personal finance excellence. I did build my 401K and IRA account with balance over $10,000 in 2002 and over $20,000 in 2007, but I did not connect dots from 2007 to 2019. I got lost and completely avoid stock market and forget to get back in stock market. I did not stay in the course of equity market, I missed last 10 year bull stock market run.

Why I am lucky one?

I start to learn personal finance by myself, and then I start to learn how to invest and learn from morningstar.com videos on youtube.com. I keep learning every day, weekends I spend whole day to work on learning.

I have strong math foundation and I can understand the concept pretty quickly. Through six months learning, I start to find mistakes I made on my 401K account and IRA CD account. It is slow but I have confidence that I learn something new about economy and how I should embrace the economy as an individual.

Keep a journal

It is hard for me to grow up as a person with financial wisdom. I have to keep a journal what I read and what  I watch last six months. I start last two months to focus on morningstar videos a lot.

First three months I worked on frugal study, minimalism, cheap vs frugal, Warren Buffet's investment, and all other books and strategies talk etc.

Why I think I am lucky? 

I still remembered the day I played tennis against wall in Nov. 2018, central park in the city of Burnaby, Canada. I found out that it was so depressing in my personal finance, I have no clue what I should do. I chose Christian belief after my first laidoff in 2001, and then I experience another laidoff in 2007; I changed the country to immigrant to Canada, and work on an ordinary job and push myself hard to advance to next level. After three years from 2016 to 2018, two onsite from Amazon, I understand that the ultimate goal is to build wealth and grow rich. Why I am ashamed of talking about it, blogging about, expressing anxiety and painful experience on it.

I decide to move on personal finance research. I know that I can not reinvent myself just being a Christian. I could not reinvent myself being just a hard working algorithm and data structure specialist. My college classmate in SJTU talked to me to say that I should not try to apply Amazon anymore. She mentioned once that she worked on her retirement fund in stock market. That is also a reminder for me to go back to the stock market.

I have a young sister who invested on stock market and then she bought an expensive car using the profit. But she could not explain what she learns and how she learns clearly. She talked about the feeling about an individual stock and how she feels the price should go up etc.

I have science education and good at math. I have near 10 year experience to learn how a business works in Canada. I like to push myself to learn something and make judgement based on my understanding.

I have to learn how to make passive income, put trust on whole economy, and whole young generation. My time is limited. I cannot go out weekend to pick up a minimum wage job to make extra cash since I need to have a good rest after the whole week full time job.

I also work a lot of hours on programming, contest, and blogging etc.

So I learn how to step out my depression finance situation, and learn how to work on next step, and what to look into.

Here are highlights:
1. Work on daily on personal finance study
2. Try to get as many as possible ideas related to personal finance
3. Move to frugal life style
4. Move to minimalism study
5. Learn how to manage the rental property very well.
6. Learn how to get back to stock market
7. Understand hedge, dollar cost average, growth stock fund, emerging ...
8. Keep learning and play a small step every time
9. Come out the portfolio for my retirement USA fund $26,000 dollars - rebalance ...
10. Expand my personal finance research into more areas.

To summarize, I am lucky for the following facts:

I have time to learn the personal finance.
I find very good study material from Morningstar.com videos on youtube.com.
I have retirement fund $26,000 dollars for me to play, this is really challenging part.
I have a full paid-off condo in USA near Florida Atlantic university for me to learn marketing, sales, and small business.
I also have $50,000 Canada dollar cash for me to learn how to invest as well. 

Personal finance research is hard than I think

Feb. 11, 2019

Introduction

It is my personal finance research. I think that learning personal finance is hard than I think.

Personal finance research

I had chance to meet my two classmates from Shanghai jiaotong university and their family on Feb. 10, 2019. The party started from 4:00 PM and ended at 10:00 PM.

One of my ideas to learn personal finance is to share my blogs with my classmates. What I like to do is to get some feedback, and then figure out how to seek advice and be a better self-learner.

I also talked about the personal finance in the party and got some feedback. Learning personal finance is not easy. I was advised by my friend to think about working as a math tutor as a side hustle.

My idea is not to exchange time for money. I like to learn how to make money from the money.

Mint app

Nov. 14, 2018

Introduction

I did google search personal finance article and then learned that Min app is very popular. So I use it to connect all my accounts. I like to share my user experience and see what I can learn from the app.

First time Mint app user

I decided to make November my personal finance month. Since I learned my mistake in 2014 October, I was too busy to work on my person finance project. I do not give enough attention to investment, personal finance, buy low sell high, money rules. I missed the opportunity to purchase a condo in Abbotsford in 2015.

So many mistakes in my personal finance management. I totally forgot one account in USA and then got charged dormant account over two years, and then I finally stopped to pay dormant account fee.

I could not find my loan application in 2011,  I could not recall the loan amount, what was bank's evaluation.

As a person to work on problem solving skills, I know that it is a red flag. I should spend time to do those easy things very well, then I will have chance to make big profit on real estate investment.

I also need to have product management experience, come out the idea for the app to make my life easy to manage the account using the feature like Mint.

From my personal mistake, I should come out the idea and then search Google, it should take less than 10 minutes to come out the creative idea like using Mint to manage personal finance.

I will search ideas how to avoid same mistake to miss the investment opportunity like Abbotsford, using common sense of buy low sell high and just apply simple analysis of market.

One thing I can do is to educate myself, spend time on the personal finance. I decided to use Mint app right away today once I read the article to give recommendation.

Statistics

My dormant account charge is three years $7.50 dollar from 2014 to 2016. Total is around $300 US dollars.

It is time to show my personal asset

Jan. 19, 2019

Introduction

It is my personal finance research. I like to present a progress report on my personal finance research. I have college classmate who owns over ten million dollar Chinese currency real estate property, and so many classmates of SJTU to own a property as well. Compared to them, I am still in kindergarden, but God allows this happen for reasons.

How deep is your love? 

I am watching the video while I write this blog. I like to make a mess on my blog once a while. I have hard time to review my personal finance statements, and write so many case studies.

It is tough for me to learn how to stay smart on personal finance, how to grow rich, build wealth, and also keep healthy as well.

One of reasons I like to share is to push myself to be a self-learner on personal finance. I need to find good investment opportunities, starting from $1,000 dollars, and learn how to date my money, and grow rich and build wealth.

Actionable Items

It is so exciting for me to conduct personal finance research. Since the more time I spend on reviewing those financial data, I can find all those leaks in my expense, and also a lot of bad habits like impulse shopping, ignorance of economy, and poor decision making.

One more thing is that I have to push myself to purchase something I can sell 10 year or more later with more value. Otherwise I will live on from a pay check to another pay check. Even though I save some income, once I lose the job, lose work permit, I will deplete all savings, and get into debt quickly.

Case study: Personal finance education

June 25, 2019

Introduction

I felt so frustrated in Nov. 2018, and I did not know what to do. So I decide to move my research from algorithm and data structure to personal finance research. I like to grow rich and build wealth. I could not believe that I like to study personal finance in the age of 52 years old, first time in my life, I do not want any relatives, friends, I just like to figure out what is going on.  I know that I am running out of time to advance my career, I had two onsite from Amazon in 2016 and 2018. I have to figure out how to grow rich and build wealth.

How to overcome the difficulty?

I live like a teenager, I did not take any risk to purchase a condo when I came to Vancouver in 2010. I had a lot of tears and went over my own personal finance research starting from Dec. 2018 to March 2019; I went over those credit card statements, and then disputed with my siblings from Dec. 2018 to March 2019.

Emotions are biggest enemy for me to build wealth and grow rich.

I wasted net income over $100,000 US dollars back from 1998 to 2001. Because I want all, I want wealth, I want to have relatives in my life, my mom, and friends, I wanted a brand new car Ford Explorer SUV, I wanted so many clothes, travel, stocks, and vacations.

In March 2019, the first time I noticed that I missed 10 year stock market bull market, all more retirement funds and saving are earning less than 2% interest rate.  I found out that I am not financial responsible person from 2010 to 2019. I was so ashamed that I do not study personal finance, I even do not do any book keeping. I was too emotional to live a normal life, fight for opportunity to grow rich and build wealth, no matter how small income I have, no matter if I have permanent residentship in USA or not.

I learn that I was so stubborn and did not take any risk to learn personal finance, learn how to invest on US stock market. All those savings are still the same amount after over two decades.

I invested on stock market, but I did not spend time on the research. I had time from 1998 to 2009 9 years on stock market, but I did not spend 10 hours a month to study stock market, economy, and get into detail, show curiosity in building wealth. And in 2009, I decided to sell every thing and closed stock account and IRA account from Ameritrade.com, since I failed my Canada permanent residentship application.

Case study: 1999, 2000, 2001, 2002, 2007 airline ticket expenses

Jan. 14, 2019

Introduction

It is my personal finance research. I worked three startup companies Atlantic Entertainment, Online Gaming, Trendium, Siva, I was under stress to survive in the full time job, developed the skills in terms of problem solving skills. Of course, I did not do very well. I like to do case study how I spent money on. I believe if I can control my income and expense very well, I may be able to survive and today I should live in USA happy and have very good career.

Case study

I like to case study my trips paid by myself, and trips I paid for my mom to visit Florida two times from 2000, 2001, 2002.

More detail,

Actionable items

It is my personal finance research. I worked and made income from 1996 to 2010 over $250,000 us dollars, from 1999 to 2001 I made net income over $110,000 us dollar.

But when I left USA to immigrate to Canada in 2010. I knew that I did not learn how to handle money very well, I put all my IRA and 401 K in money market fund, less than $25,000 US dollars. And I borrowed against the condo I purchased in 1999, with home equity loan $38,000 dollars, less than $25,000 US dollar cash, I landed in Canada to start a new life. The condo I owned had market value $48,000 US dollars.

It is not how much I made mattered. It is how much I saved mattered. 

As a person with some management skills, I noticed there are hundreds of mistakes I made in terms of money.

I did not learn personal finance in 2001 my first laidoff; I did not learn personal finance in 2007 second laid off. After I worked full time job over 8 years in Canada, I found out that I could not afford and got a loan in Chilliwack, two hours away small city one bedroom home. I decided to learn personal finance in my life first time.

I just could not believe that I can get a golden medal on hackerrank weekly contest, but it took me hundreds of hours to work; I start to work on all my personal finance study by myself.

How to read my Leetcode profile?

March 24, 2019

Introduction

It is my personal finance research. As a matter of fact, Amazon Vancouver finds candidates from China, Latin America since they search talents globally. I stayed in USA from 1996 to 2010, I stayed in Canada from 2010 to 2019. I also have to learn how to push myself by working with talents all over the world. Today I like to work on a short research how to read my Leetcode profile?

My Leetcode profile

Here is my leetcode profile on March 24, 2019.

I like to define the time line 5 spots:

May 2018 - Time line 1,
July 2018 - Time line 2
August 2018 - Time line 3
November 2018 - Time line 4
March 2019 - Time line 5

I like to write a few things for each time line, how I advance myself to next level, change target, analyze my own career and thinking process, Amazon leadership principle etc.

May 2018 - Time line 1

I finally decided to take risk and take one week vacation to SJTU 30 years reunion in Shanghai. I booked the flight and in the airport I got a message from LinkedIn.com from one Amazon recruiter.

Here is the blog. I had to book a phone screen after the vacation. I did book a phone screen in May and I passed the phone screen. I have two weeks to prepare an onsite in June in the city of Seattle. I hired a coach from Tsinghua university, a young graduate student met on pramp.com in January 2018. He solved over 500 algorithms, his ranking is around 5000.

I was told to work on easy level algorithms on leetcode.com. But I believe that I should learn how to solve hard level algorithms only. Coach told me a few times, work on easy level algorithms. I did not have time to work on easy level algorithms, two weeks preparation, full time job.

So the fact is that I only solved 120 algorithms from January 2015 to May 2018. And also I did not organize, write discussion panel or document the practice very well. So there is a lot of blank before May 2018.

June 2018 - Time line 2

After I went to Amazon onsite, I had a facebook phone screen set up before August 1. I continued to work on Leetcode easy level algorithms.

November 2018 - Time line 3

I have to wait another two years before I can apply Amazon. I decided to work on personal finance research. I like to do some research to solve real problems in my life. It is the first time I chose to work on personal finance research, it is painful experience since I reveal the real life of my personal finance.

March 2019 - Time line 4

I worked hundreds of hours on personal finance in holiday one week break last week of December 2018. I chose to continue to study personal finance. I only play Leetcode weekly contest.

My personal finance struggle

Dec. 4, 2018

Introduction

It is one of my research area called personal finance. If I can handle very well my finance, then I will have more confidence to handle better on my career as a software programmer.

Mistakes after mistakes

It takes some discipline to learn how to save money. I did my personal finance review, I spent over $4500 Canadian dollar on one month trip in 2012. I am single, all I can do is to purchase an airline ticket and then that is all. Minimal life style.

I did the totally opposite. I did not learn how to say no. How to budget and how to negotiate with relatives, siblings, and seriously deal with relationship with people.

I own nothing in the city of Yichun and I do not own any property in British Columbia area as well. It is more challenging for me to solve problems compared to year 2001 and year 2010.

One thing I like to do is to write about personal finance, and also I have to push myself learn some basics. If I can prepare very well, then when the market went down in 2008, instead I closed all accounts, sell all stocks and mutual funds in 2009, I will carefully consider and use all money to purchase Microsoft stock with $20.00 dollars a share. Since I learn that there is a few ways to double money, one is to buy stocks, good company stocks on bear market.

Never too late

I start to document all purchases, and I like to document my personal finance and see how I can grow from a seed in Canada and have some wealth and asset one day.


Wealth, like a tree, grows from a tiny seed
the richest man in Babylon, Georges Clason

Case study: 2001 IRA and stock purchase VIGRX fund

January 1, 2019

Introduction

It is my personal finance research. I spent time to review my files and then I found two documents related to my stock and mutual fund purchase. I like to do a case study on them.

Case study

Life is so challenge and I also like to share my limited experience. I am a single person and I do not know what the single means. In terms of personal finance decision, I like to write down my decision making mistakes and share with others.

My problem is to buy high and sell low. I do not understand time is on my side. I was so young back in 2002. I have over at least 30 years to benefit the growth of economy, what should I worry about?

I like to do a case study on a mutual fund VIGRX.

Here is the folder containing my purchase detail in my personal finance folder. I had Atlantic Entertainment 401 K rollover in 2001. Here is my 401 K statement at the end of 2010.

                                                                          Share      Price         Action
2001 Dec 10, 2001 Fidelity advisor equity            158.915   $25.90     Bought

I sold the mutual function Fidelity advisor equity in 2012 with loss over $1000 US dollars.

My analysis

I sold mutual fund in 2002. I totally forgot the fund after Feb. 27, 2002. I did not have job from 2001 September to August 2002, I was a home maker. I need to do research how to be a good home maker.

Today on January 1, 2019. Fidelity advisor equity has price $69.10. If I took the loss in Feb. 27, 2002, and do nothing, my original $3000 dollar fund will worth more than $10981.00, without considering dividends.

Price review

VIGRX fund - from Vanguard website - January 1, 2019

Performance review

VIGRX mutual fund - January 1, 2019

Actionable Items

In order to solve my house problem in the city of Vancouver, I decided to work on my personal finance research. I like to figure out what decision making process I have and how I can make improvements.

In year 2000, I have a good friend from FAU shared me with the tip to buy growth index fund, so I had no idea what to do, I decided to purchase four funds instead. Growth index fund minimum $3000 dollar, other three funds $1000, $500, $500.

When the fund price went down, I really did not understand what the problem was. I just sold it and took the loss. After that, I did not review and try to purchase back to cover the loss in 2002. If I understand the growth index fund long term is up, then I will get back and keep last 18 years.

I like to call my finance lesson worth over $7000 US dollar, 18 years time. Personal finance No. 2, growth index fund, $7000 at least loss.

My learning and decision making has flaws. I listened to my friend's advice, I decided to open IRA stock account, I did purchase. I did not spend time to review my every piece of transaction, and also analyze what I should learn from the transaction.

I have to push myself to learn decision making. Go for one case a time, and go over to review my choice. What is the problem? How to recover? Should I go back to purchase again?

Since I am a single person, I choose not to share my struggle and is shamed about my wrong judgement. Today I like to share and push myself to learn from the mistake, and be a good manager of my money.

I have to push myself to be gentle, and kind. Document every purchase, and do not try to kill wealth from a seed. Specially when I took loss, it was pain. But that is the chance I can really grow. I have to believe in USA, USA economy, and try to think about how hard Facebook, Amazon and Facebook to recruit best problem solvers to work for them. People with best education, reasoning, and family support, there is no way the whole economy will stay down.

One of ideas is to purchase VIGRX mutual fund in 2010 instead of closing the account for investment and IRA. If I purchase growth index fund at lowest point of last 15 years, in 2010. If I put another $3000 dollars, or $6000 dollars, then I will have very successful story to share after 18 years.

Follow up 

April 22, 2020

Based on my research, MSFT stock ten times more from 2010 to 2019. So if I hold MSFT 10 shares stock purchased back in 2001, then the value of stock 660 US dollars will be worth more than $6600 dollars.

2019 June - 2019 November six month baby investor

Nov. 30, 2019

Introduction

It is very stressful to stay in the stock market even though I already know all the analysis of my own portfolios, I did research based on Canada retirement guide and do believe that the research makes sense. The road to take risk is tough, one thing I can manage is to stay in the market one year and learn from one year experience.

My portfolios

I already stayed in the market over 6 months. I totally felt good last 10 years to let fund stay in bank with 1% interest or no interest, but stay in the market and go up and down, I feel stressful. It is called loss aversion.

I had painful experience in short time in 2001 and in 2009. But I did not think carefully, over 20% loss, and then put all my USA fund in IRA CD or money market fund over 10 years. Even though each year only less than 1% interest.

It is called stubborn, getting old, no more learning in my personal finance. It is hard for me to push myself to advance in my career, so I chose to work on personal finance instead. Now I feel that it is tough to live a life like staying in market.

I can push myself to stay in the market one year. I will see how many things I learn, every time I feel stressful, I will try to learn something new on personal finance.

Actionable items

Based on my experience in 2001 and 2009, I did not invest enough time to learn investment. I just did the investment and managed my 401 K and IRA. I did not fully review every year. So this bad habit of personal finance caused me struggle last 23 years in north America.

It is better for me to invest time to learn basics first. I learned how to work on algorithm and data structure last five years, I like to use those experience to work on my personal finance as well.

10 reasons I failed to start my personal finance research

January 25, 2020

Introduction

It is my personal finance research. I like to figure out what are 10 reasons I failed to work on my US 401 K and IRA from 2010 to 2019, I did not start my personal finance research until Nov. 2019.

10 reasons

I like to write down 10 reasons and also push myself to learn more about personal finance, and build a community around myself to build wealth and grow rich.

1. First, from 1999 to 2009, I did not spend over 100 hours to study personal finance, investment; I never review my credit card statements, learned how to use Excel sheet to calculate my expense. My foundation of business analysis was too weak;

2. I made mistakes in investment. I sold VIGRX in 2001 to have 30% loss; I did not learn anything until 2009 I sold everything in stock market in 15 years low; What I did was to ignore the need to learn how capitalism works;

3. My christian belief, and my church activities, I did not push myself to learn basic skills how to do book keeping, and invest time to read investment books at all. My attitude to build wealth and become rich is wrong, I still was in hope to get back to high paid software engineer job;

4. I was under stress from 2010 to 2019. I got addicted to have road trip to USA to do cloth shopping;

5. I spend a few years to play tennis and tried to lose weight. I did that from 2012 to 2018.

6. I worked on Leetcode from 2015 to 2019, and worked on my coding blog;

7. Whatever I do, I should always keep study how to build wealth and grow rich every year;

8. I spent over three years to learn how to file Canada immigration application for my nephew from 2016 to 2019. I should always put my own goal first;

9. I always think about being nice and also practice my Christian belief; My mindset is to live a life from a paycheck to a paycheck.

10. I do not learn and spend time to watch youtube.com video, instead of watching Netflix for entertainment.

Overall, I dot not push myself to advance myself in terms of reading skills, and other challenging activities like contests, and other activities like blogging.

Case study: Par tech 401K plan performance review

April 15, 2019

Introduction

It is my personal finance research. Today I spent one hour to go over the performance of my 401 K with par tech with Charles Schwab, and also this is the first time since 2007 I chatted with a representative online how to rebalance the portfolio. I like to do a case study on my performance.

Case study

It is the first time in my life I realize that that is my job to keep those 401K money grow. I did not show any curiosity to learn how to grow the money. I did not have annual statement, I did not chat with representative. I was too busy with my life.

One thing I chatted with my sister last August when she visited me, she said that if you like to make more money, you should consider to sell something on wechat or on internet. I was so ashamed about my financial situation, so I chose to start personal finance study starting from Nov. 2018.

After six month study, over 500 hours watching videos from youtube.com, morningstar.com, I spent hundred hours with personal finance director Christine and her teaching. I finally figured out that it is not difficult for me to learn and come out a plan, double the money based on Future value calculation and the rule of 72. Based on stock market bull market last 10 years run, it should be taken less than 10 years to double the money.

I only could find my 401K fund performance from 2010 to 2019. The following is my performance.

I have to push myself hard to figure out how to cover last 12 years loss. Ideally I should be able to double the money from 2007 to 2019. I have 12 years for me to learn how to double money. If I start to learn personal finance, economics, morningstar videos on youtube.com from 2010, I spend over 1000 hours to learn, I definitely should come out a few ideas how to do it.

As a matter of fact, I do not learn the importance of personal finance. Last 20 years I did not find any investment opportunity to fit for me. I just could not believe that I was so lazy to grow rich and build wealth. I enjoy so much activity, indulge in consumption. I just could not believe how superficial I am. I keep buying clothes, I purchase 10 jeans one time, 10 jackets one time. I just could not believe what I have in my mind from 2010 to 2015.

Here is my account balance in April 2019. I finally know that I have to give myself time to learn stock market, economy first. And then I will figure out ways how to make sound investment strategies.

Comparison with TRBCX fund

I like to compare the performance with existing funds available in my Par Tech 401K plan. This is the first time from 2010 to 2019 I checked how many funds available for the purchase. I need to learn growth equity and long term performance of strong growth of US economy.

TRBCX

Case study: clothing expenses 1998, 1999, 2000, 2001, 2002, 2007

Jan. 14, 2019

Introduction

It is my personal finance research. I do not know how much I spent on clothing in United States until today. I like to do a case study on those expenses.

Case study

Here is my personal finance github folder.

I do not know how much I spent on clothing shopping in 1998, 1999, 2000, 2001, 2002, 2007 until 19 years later. I did personal finance research starting from Nov. 2018, I came out the idea to calculate the amount last few days.

Stores - purchase amount 

Clothing - Store - purchase

Actionable Items 

Most important is the problem solving skills. The thinking process is so important. I should push myself to learn personal finance. Through my analysis, I understood how much time I wasted on the worry. Even I chose to be a Christian in 2001, I still have to learn how to master personal finance. I am glad to make decision to start to learn Nov. 2017 the first time in my life, I like to spend 300 hours first. 

I did purchase a condo using $10,000 US dollar in 1999 August, my elder sister purchased a condo in 2000, I paid the cost less than $8,000 US dollars. But however, I did not learn how to solve my problems in terms of building wealth, grow rich; I never thought about saving every day, I should purchase a condo in Shanghai. Why? Shanghai is the biggest city, I lived and worked there from 1984 to 1996, 12 years.

Delay gratification

I should learn money rules called delay gratification.

I spent over $5,500 us dollar on clothing.

Clothing shopping definitely was a biggest waste. I did not know that the small amount can be added up quickly to big amount. Even I have a mathematics major, but good habit to handle money, purchase, I like the statement, a pen, a paper, a diligent heart to write down all expenses in every penny.  Be careful Small leaks.

It takes 19 years to learn

January 9, 2019

Introduction

It is my personal finance research. I was so busy last winter break after Christmas. I did not have any party to go. My good friend in SJTU went to Europe for family vacation, and I had to spend time to chat one hour with my Florida Atlantic University friend as well. I have Chinese friends and their family working in Seattle, they work for Google and Amazon.

It takes 19 years to learn 

I started my personal finance research in November 2018. I continuously work on my research, and after hundreds of hour work, I push myself to find more things to work on. I finally searched citi bank credit card online access and there is a feature in citi bank credit card to request statement from 1996 to 2018.

This is the first time I downloaded all statements, and then I exported to Excel sheet, applied some simple scripts and generated the pivot table. Here is the blog I documented my experience this morning. I took a sick day to go for dental appointment.

I purchased over $1900 US dollar clothing alone in 2000. I just could not believe that.

I am always a good friend to all my past classmates. But we do not communicate with personal finance in detail. I tried to figure out why I have to work since my tooth are falling out since periodontics.

Since last few years I talked about social housing in Canada, I felt so ashamed to myself. I decided to do some research and figure out what is the real reason with my situation. My friend talked to me in 2017 summer.

One of my good friend from SJTU told me that I should not work on algorithm and data structure practice, she advised me in May 2018. I should not go for those challenging positions. I thought about it and I argued to myself. So that is one of reasons I decided to start my personal finance research.

Here is year 2000 citi credit card statements and my analysis. I just could not believe that I was such stupid in my purchase. In 2014, I went to Florida and threw so many clothes with good quality and some of them I even only wear two or three times into garbage can. I did not count how much I spent on cloths at all.

Here is my personal finance github.

My argument 

If I do not learn the value of dollar, then there is no point to make more money. Since I will waste the money even I make more money from my job and investment.

I like to be a minimalist.

January 10, 2019 11:32 PM
If I was so smart like I am in 2019 back in 2000. I will cut all expenses to minimum. Do not offer my mom an international trip. Do not spend on clothing. Those two items will save $2600 US dollars. That is one bedroom condo in the city of Yichun. Or I will invest in Vanguard growth index fund for $3000 US dollar purchase.

Grow rich is so painful experience

Feb. 18, 2019

Introduction

It is my personal finance research. In order to solve problem of housing problem in Canada, I have to push myself to work on personal finance research starting from Nov. 2018. After more than four year research on data structure and algorithm, I believe that I learn how good a research can be. I like to push myself to learn various topics, and also I need to push myself to case study so many things in my past and existing experience. Grow old is not to grow rich. Grow rich is not automated, I have so many struggles and painful experience, I have to push myself to learn how to save money, and find time to work on my own personal finance business highest priority first time in my whole life.

Why it is so painful?

I have to face the reality. It is easy to be nice but that means I have to pay the other person's bill. I have to learn how to defend my own interest.

I stopped netflix monthly subscription in January 2019. Even though I did not have time to watch a lot of show, I did subscribe over 4 years. My English reading is not so good, I start to watch youtube.com videos first, and then I start to read articles related to personal finance.

I park the saving on 1.8% interest on Scotia bank saving account, but I have to think about carefully. If I like to invest some money on stock long term, I am better to take tax advantage and put it into RRSP first.

I park those 401 K account and IRA account on money market fund and low interest rate less than 2.0% from 2016 to next six years. I plan to spend next six month to learn another 1000 hours personal finance first, and then I should come out some good ideas how to take action.s

I worked full time last eight years nine month. I have not come cross one single good idea to invest based on my savings. I just could not believe that how good those deals are. I was so ashamed to learn those research related to Chilliwack condos and the price from 2010 to 2015.

All my attentions are drew away from Canada to my mom and my siblings and those relatives in China from 2010 to 2018, friends in USA. I should focus on low income jobs, and how to work on my limited income and savings, and develop strong determination to build wealth instead.

Follow up 

January 11, 2020 3:05 PM
It is important lesson for me to learn related to my USA 401 K and IRA accounts. From 1999 to 2019, I have 20 years to learn how to invest, but I did not take any initiate and developed any curiosity in terms of investing, risk, portfolio management. My behavior economics is below the average, worst case in the world.

It was the reality I had to face, as a 53 years old, I have to be patient to myself. Start slow, and read every day, and write down what I have read and continue to develop interest to learn.

Case study: what activities hurt me most in down time (Series 2 out 3)

Jan. 18, 2019

Introduction

It is my personal finance research. I like to write a blog about the topic what activities hurt me most in down time. This one is called time is on my side; How should I embrace my failure?

Case study

In 2001 Sept., I got laid off from Tredium Inc. I think that is the down time. The activity hurt me most, I think, I made decision to throw away some personal finance records. I could not analyze in Jan. 2019, after 18 years.

What should I do at that time is to figure out how to invest some money left after I made net income over $110,000 us dollars?

I should figure out something for me to hedge loss of my asset, cash or hard working net income. It will take years for me to figure out how to be super talent programmer in the world. But I believe that there is a plan for me to come out how to hedge against all possible risks and come out reasonable plan.

Always work on personal finance habit

I am so surprised to learn that I have to build so many personal finance habits until January 2019; I made decision to start my own personal finance research starting from Nov. 2018, I try to push mysef every day to learn something, write down in my blog, and then look for data like credit card statement, saved printout invoices, and old emails in my Google gmail, Microsoft outlook, yahoo email. Dive deep on those data, I like to put together my analysis based on those financial data.

I will have to work on so many day one. I need to get annual credit report, I need to do my monthly income expense report similar the one I do at work every month. I did the first one this January, 2019, I need to do my annual asset report the first time, counting the inventory of cash, clothing, and all other items in the home. 

Comparison study: Algorithm practice vs personal finance research

May 5, 2019

Introduction

It is my short research topic. What is difference between algorithm practice and personal finance research. I like to write a blog on this topic.

Algorithm practice

The goal is not so clear. I like to work for a biggest software company so that I do not need to worry too much on other things. Free food, good benefits and other perks. But ultimately the goal is to push myself to be a good problem solver, and also be very competitive. I started from January 2015 and ended on Nov. 2018. I decided to take a break to work on personal finance research.

Personal finance research

I started the research the first time in my life. I do not know what I am thinking and make a living so many years. I do not show some determination to be rich and wealth. I do not pay attention how to build wealth and grow rich. I became a Christian after the first laidoff in 2001.

My personal finance research starting from Nov. 2018 leaded me how to invest on US stock market and USA economy. I cannot afford a one-bedroom condo in Vancouver area. I know that my research is falling behind. I spend my free time on wrong things.

I spent a lot of time on Willingdon church activities. I need to push myself to start to work on money research.