Case study: Money is good for nothing unless you know the value of it by experience - Series 2 out of 10

January 4, 2019

Introduction

I am doing personal finance research. So I like to write my study notes. The quote is from THE ART OF MONEY GETTING by P. T. Barnum.

Know the value of passive income $6,000/ year

I have so many reasons to keep the condo running as a real estate owner. That is the only thing I own with some value from 2010 to 2018. It takes me a lot of time and stress for me to maintain the place and find renters. I like to write a blog on this topic called money is good for nothing unless you know the value of it by experience.

Case study

I like to work for the software programming job since it is exciting sometimes. I also get chance to learn how to improve my problem solving skills last 12 months. But I also have challenge to qualify to be a sponsor back in 2016.

I found out that I can sponsor one of my relatives using lonely Canadian program. I have to meet financial support minimum requirement. Because I can count rental income in USA, so I qualify the financial requirement to reach the minimum income to sponsor one adult.

I learn the value of $6,000 Canadian dollars of rental income. The value of $6,000 dollar in 2016 helps me to qualify to be a sponsor.

$6,000 Canadian dollars is $500 dollar/ month, or $400 us dollar/ month. I lowered the rent below the market since I learn that Chinese students know the value of $150/ month better than me, since I have a stable full time job last 9 years.