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.