How to learn finance and investment as a 53 year old?

January 12, 2020

Introduction

It is so easy to learn since there are so many good quality materials to work on. I like to write a short research how to learn finance and investment as a 53 year old.

Work on my reading skills

I think that I am a hard working person. But I have to work on my reading skills, analytical skills. One thing I can do is to journal my learning, so I can review my progress and then figure out how to add on more learning material.

It is most important for me to learn and build curiosity level. I like to learn how to think and ask questions in terms of thinking about investment. I should learn at least a few hundreds of hours first, and then explore all areas I have interest in first.

Monitor my own behavior carefully

It is always important for me to monitor my own economics behavior carefully. The mistakes will create huge difference in my asset, I have to show my mistakes not to take 2010 to 2019 ten years time seriously, I should have spent hundreds hours to learn by myself finance industry, and understand how to invest in index fund, know all the numbers in those well-written articles in famous media like Morningstar, US news, or MSNBC.

I should start to write personal finance as a Chinese, single Chinese, immigrant, Canadian citizen. It is important to showcase how I learn to invest and manage risk.

Accept myself

I have to learn how to take myself as is. Everytime I find my weakness, I have to push myself to work as an engineer and then start to find an optimal solution. I did make mistakes to create problems for myself, sometimes get depressed for one or two days, but I have to learn to care about myself,  forgive myself as a human being, and move on.

In order to live healthy and wealthy life, I should start early back in 2001 after my first laidoff to learn personal finance, and read investment books carefully. Instead it takes me another 18 years until I was 52 years old.

I did go through so many problems to learn to live a healthy and happy life. One of ideas is to go over those years from 1984 to 2019, and assume that I am a highly efficient person, how to make some corrections to make my life and work better.

I like to use one of statements I like to end my today's short research.

 lot of what you believe today will eventually be proven wrong. Never stop looking for truth. 
Daniel Crosby, Ph.D. Behavioral officer at Brink Capital, 40 yrs birthday meditations

Case study: How can you compete with young people?

July 14, 2019

Introduction

It is my personal finance research. Last year our Shanghai Jiaotong University 70141 classmates got together, and we met our mathematics professor in the city of Vancouver. I talked to my classmate,  she advised me not to apply Amazon again, or Facebook. I just shared my onsite interview in the city of Seattle in 2018. I wondered what I should do, should I do something else? She made comment, how you can compete with young people?

Case study

I like to write a small case study on this topic. I did not have answer at that time, in July 2018. How can I compete with young generation for those positions?

I started my personal finance research starting from Nov. 2018.  I decided to move on, since Amazon is the only company I got two onsite interviews from 2016 to 2018.

I have to learn to push myself, examine all things I can do. So I started the personal finance research, continue to learn US economy, watch a lot of CNBC fast track money show. I started to work on my retirement portfolio and Canada TFSA portfolio as well. My classmate purchases stock over years, she works for bank and also insurance company.

I come back to apply again for Amazon AWS job in 2019.

If I cannot compete with young people, then I will be the best friend or coach, or hitting partner to work together.

How to do a good job? 

I just keep learning. My ex-coworker left after working in same manufacturer company this May 2019. She coached me to reach out to people, say hello; I still remembered the last day we went out lunch with a lot of coworkers, after 20 to 30 minutes, she started to collect business cards from restaurant sitting next to us. She talks to strangers.

I invited others to join me Kevin O Leary's show in Canada, my coworker Jenny went with me. In less than 30 minutes, she pushed me to talk to the front, left and right. And she asked what brings you to show.

Young people are working so hard. They keep running and doing physical exercise, fit like a movie star, fashion like a model. 

Personal finance research is so exciting

Feb. 2, 2019

Introduction

It is so amazing experience to work on personal finance research. I have math major, once I work on numbers then I do not want to stop. I think that this personal finance project can last forever. I have s o many case study on my past experience, and I have so many videos to watch and books to lookup. Life is so exciting once I learn to work on my personal finance.

I am three month old finance baby

Learning finance is so much fun. I have so rich experience to play with so many things. I have financial difficulty to afford a home in Vancouver area. Every time I think about my age and financial situation, my tears can easy come out and then I have to push myself to learn how to value my time and every dollar I own.

I love every dollar I make, but I love to learn how to count the dollar and try to save one. 

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.

Case study: 1994 to 1996 two years full time job as a software programmer

Dec. 30, 2018

Introduction

I like to carefully review what I made a living from 1992 to 1994 in the city of Shanghai. The consumer behavior stayed same from 1992 to 2018 spanning over 26 years. I like to learn how to start all over again and be disciplined and start to learn how to build wealth. 

Facts to review 

I worked for research lab in Shanghai from 1992 to 1994, a startup software company from 1994 to 1996.

1988 - 1989  80 yuan/ month
1992 - 1994  120 - 180 yuan/ month
1994 - 1995  1000 yuan/ month
1995 - 1996  1800 yuan/ month

Big item purchases

From 1994 to 1996
1. 2000 yuan TV
2. Bicycle - 500 yuan, I ride bicycle to work every day round trip
3. 1500 yuan necklace
4. 1000 yuan 9999 ring
5. Grocery - monthly expenses
6. Rent $250/ month - two month salary I earned to work for Shanghai research lab, the lab paid free dorm room to live from 1994 to 1996.
7. A trip to Shanghai in 1988 for a group of 6
8. 200 US dollar = 1800 yuan application fee to USA graduate school
9. TOEFL/ GRE test
10. TOEFL/ GRE preparation class $400 each
11. A few more gold 9999 items, ear sets, pendant called Horse and Success. more than $1000 yuan purchase
12. Training NT operating system in Shanghai Jiaotong university. A few hundreds of yuan.

House problem

From 1992 to 1996, I should challenge myself to solve housing problems. In research lab, there are 4 condos purchased and we have over 10 people new graduates to share three units. Late the condo was given away to those outstanding employees as young talent.

I challenged myself to quit the job and went to job market to find a job for myself and stayed two years. I booked newspaper of xinming evening newspaper, but I did not try to solve house problem.

Even if I can not purchase a home in the city of Shanghai, I should be able to purchase one in the city of Yichun from 1994 to 1996. I chose to purchase gold necklace, ear set, and pendant, rings.

Lesson learned 

I remembered that I tried to mail TV set back to city of Yichun in 1996. I paid taxi to Shanghai rail station and then wasted money since the driver tricked me to expensive mailing place.

I break the law called delay of gratification. I do not treat hard earn money carefully and with respect.  I gave away one year salary from 1992 to 1993 - over 1,000 yuan ring to my mom. It was early in my career, but I did not learn that the job was so risky and not stable. I just took the risk the whole career without considering options carefully.

Baby step to start my real estate research

Nov. 12, 2018

Introduction

It is the research for me to work on. I do not have a lot of cash to play with, I can play with $50,000 dollar cash and $100,000 dollars loan. I have some asset in USA, but I like to serve the Chinese community for their education pursuit in Florida Atlantic University. I like to get into the project called find a cheap condo in British Columbia.

Data 

I need to find ways to collect data. I have to do analysis based on different province, different cities, population, managment cost, travel, safety, and all other things. At the beginning, I just learn that the market is the game, some of us play them to get quick money in the world.

Actionable items

It is the first time I learn that I should learn how to invest my new home area in British Columbia area in Canada. I only had one hiking trip to Chilliwack invited by SJTU classmate back in 2015. I like the view of the city from the top of mountain.

Follow up 

May 20, 2022

45749 Spadine ave, Chilliwack