Here is the link.
1. Can you really afford it?
2. Is it cheaper to rent or buy?
3. Rent if you are still earning and learning
4. Buy if you are stable and established
5. Buy if you are an entrepreneur and not yet an investor
6. Buy if you are financially successful
Monday, February 11, 2019
Sunday, February 10, 2019
The 3 Best Habits Of Rich People
Here is the link.
1. Count your money (what gets measured, gets improved) 2. Pay yourself first (at least 10%) 3. Improve your earning ability (find ways to add value to the marketplace)
1. Count your money (what gets measured, gets improved) 2. Pay yourself first (at least 10%) 3. Improve your earning ability (find ways to add value to the marketplace)
How Highly Successful People Think
Here is the link.
Long term
Homeless - next meal
employee - next two weeks paycheck
manager - quarterly
Dan - next three years - daily income goal
Successful people think about long term
Accurately
Successful people think about accurately.
Look as it it. Not overly optimistic.
Obstacles in-between
Everything is working out perfectly.
What could go wrong?
What do not I know?
Successful people think about people.
DIG- Daily Income Goal, Successful people think long term not short term, think accurately, think people
3 Questions to ask yourself:
What could go wrong, what don't I know, and what don't I see.
Long term
Homeless - next meal
employee - next two weeks paycheck
manager - quarterly
Dan - next three years - daily income goal
Successful people think about long term
Accurately
Successful people think about accurately.
Look as it it. Not overly optimistic.
Obstacles in-between
Everything is working out perfectly.
What could go wrong?
What do not I know?
People
Successful people think about people.
DIG- Daily Income Goal, Successful people think long term not short term, think accurately, think people
3 Questions to ask yourself:
What could go wrong, what don't I know, and what don't I see.
7 reasons why you will never get rich
Here is the link.
1. You don’t think money is that important 2. School never taught you about money & wealth 3. Your parents never taught you about money and how money works 4. You were never taught how to make money beyond a job 5. The mainstream media and advertisers want you to consume 6. You have a negative association towards rich people 7. You never take full responsibility for your own financial future
1. You don’t think money is that important 2. School never taught you about money & wealth 3. Your parents never taught you about money and how money works 4. You were never taught how to make money beyond a job 5. The mainstream media and advertisers want you to consume 6. You have a negative association towards rich people 7. You never take full responsibility for your own financial future
7 Business Strategies That Will Make You RICH
Here is the link.
The 7 Principles are: #1 Building relationships. As a business owner, Never Consider a transaction as a 1 off thing. Consider a new purchase as a start of a new and beneficial relationship for both parties. #2 Integrity. The number one reason why people stop buying from a business is that they do not keep a promise they’ve made. #3 Ask. How many people are afraid to ask for what they want. See most people don’t get what they want because they don’t ask for what they want. Don’t be afraid to ask. #4 Passion vs. Market. Business is market driven not passion driven. You might be passionate about playing darts in your spare time but there is no market for it. Then you might now make a whole bunch of money with it. #5 Abundance Vs. Scarcity. Something that holds people back from achieving their full financial potential is that they think that money is on very limited supplies. When they feel like every dollar they made comes at someone else's expense, they feel guilty when they start making more money. #6 Clarity. Do you normally get in your car and start driving with no idea of where you are going. Not really. You get in your car to go to the grocery store or to work. You have a clear destination. #7 It’s not about deservingness. Many people believe that if they become more deserving than wealth will come. If they think more positively and then things will turn around.
And don’t get me wrong, being a positive person is a great thing. But it does not equal wealth.
There is a saying that goes You don’t get what you Deserve, You get what you negotiate.
The 7 Principles are: #1 Building relationships. As a business owner, Never Consider a transaction as a 1 off thing. Consider a new purchase as a start of a new and beneficial relationship for both parties. #2 Integrity. The number one reason why people stop buying from a business is that they do not keep a promise they’ve made. #3 Ask. How many people are afraid to ask for what they want. See most people don’t get what they want because they don’t ask for what they want. Don’t be afraid to ask. #4 Passion vs. Market. Business is market driven not passion driven. You might be passionate about playing darts in your spare time but there is no market for it. Then you might now make a whole bunch of money with it. #5 Abundance Vs. Scarcity. Something that holds people back from achieving their full financial potential is that they think that money is on very limited supplies. When they feel like every dollar they made comes at someone else's expense, they feel guilty when they start making more money. #6 Clarity. Do you normally get in your car and start driving with no idea of where you are going. Not really. You get in your car to go to the grocery store or to work. You have a clear destination. #7 It’s not about deservingness. Many people believe that if they become more deserving than wealth will come. If they think more positively and then things will turn around.
And don’t get me wrong, being a positive person is a great thing. But it does not equal wealth.
There is a saying that goes You don’t get what you Deserve, You get what you negotiate.
10 Things The RICH Teach Their Kids About MONEY
Here is the link.
1) Rich Parents Teach The Importance of Money. 2) They Teach The Difference Between Assets and liabilities. 3) How to manage their money(include kids). 4) Teach different ways to earn money. 5) Developing productive habits. 6) No One Owes You Anything. 7) Social and influence skills. 8) Delayed gratification(patience). 9) There is ALWAYS More Money. 10) The Best Way To Make Money Is It Help Others.
1) Rich Parents Teach The Importance of Money. 2) They Teach The Difference Between Assets and liabilities. 3) How to manage their money(include kids). 4) Teach different ways to earn money. 5) Developing productive habits. 6) No One Owes You Anything. 7) Social and influence skills. 8) Delayed gratification(patience). 9) There is ALWAYS More Money. 10) The Best Way To Make Money Is It Help Others.
Learning about investing
Feb, 10, 2019
It is my personal finance research. I do think that a person should build good personal finance habits, and keep improving and use those habits to manage personal finance.
It is most challenging and I have to start all over again to learn how to invest in stock market. This time I like to learn something basics as well.
Introduction
It is my personal finance research. I do think that a person should build good personal finance habits, and keep improving and use those habits to manage personal finance.
Stock market investing
It is most challenging and I have to start all over again to learn how to invest in stock market. This time I like to learn something basics as well.
8 Money Mistakes You NEED to Avoid!
Feb. 10, 2019
Here is the video link.
8 MONEY MISTAKES YOU NEED TO AVOID (summary): #1.) Relying on the Hope Strategy: believing you’ll make lots of money and all your financial problems will go away (ie. starter entrepreneurs spending more money than they make). #2.) Having a spending problem = spending more than you can afford. (ie. Buying all the stuff you don’t need: cars, shoes, clothes, etc). Solution: spend less than you make. Save and invest the rest. #3.) Holding cash. Mistake: keeping your money in your account (cash). Inflation exists. Therefore the value of your money will decrease every year. Solution: invest your money and take advantage of the long term power of compound interest. #4.) Investing before paying debts. If you have debts with high interest rates pay them first before even thinking of investing. Otherwise your debts will compound at a higher rate than your investments. #5.) Not planning for medium term expenses. Thinking of your expense 2-4 months ahead will help you to avoid any unpleasant financial surprises in the long run. #6.) Not saving your money to help you think longterm. Living paycheck to paycheck keeps you in a short term mentality. Solution: put a little bit of many away every paycheck will help you shift into a longterm mentality when it comes to your financial goals. #7.) Not starting a side hustle if you don’t like your current job. 85% of people in the US don’t like their jobs. Yet more people choose to complain than do anything about it. Solution: in the age of technology, do something about it and start a side hustle. #8.) Not learning about investing. Fear of losing money keeps people away from the knowledge of investing. Solution: investing is like learning how to ski. You see people do it and it looks easy. Yet you try it and fall over and over again. But the more you practice the better you get. Learn how to invest.
Here is the video link.
8 MONEY MISTAKES YOU NEED TO AVOID (summary): #1.) Relying on the Hope Strategy: believing you’ll make lots of money and all your financial problems will go away (ie. starter entrepreneurs spending more money than they make). #2.) Having a spending problem = spending more than you can afford. (ie. Buying all the stuff you don’t need: cars, shoes, clothes, etc). Solution: spend less than you make. Save and invest the rest. #3.) Holding cash. Mistake: keeping your money in your account (cash). Inflation exists. Therefore the value of your money will decrease every year. Solution: invest your money and take advantage of the long term power of compound interest. #4.) Investing before paying debts. If you have debts with high interest rates pay them first before even thinking of investing. Otherwise your debts will compound at a higher rate than your investments. #5.) Not planning for medium term expenses. Thinking of your expense 2-4 months ahead will help you to avoid any unpleasant financial surprises in the long run. #6.) Not saving your money to help you think longterm. Living paycheck to paycheck keeps you in a short term mentality. Solution: put a little bit of many away every paycheck will help you shift into a longterm mentality when it comes to your financial goals. #7.) Not starting a side hustle if you don’t like your current job. 85% of people in the US don’t like their jobs. Yet more people choose to complain than do anything about it. Solution: in the age of technology, do something about it and start a side hustle. #8.) Not learning about investing. Fear of losing money keeps people away from the knowledge of investing. Solution: investing is like learning how to ski. You see people do it and it looks easy. Yet you try it and fall over and over again. But the more you practice the better you get. Learn how to invest.
Proverbs 13:7 "One person pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth."
Feb. 10, 2019
Introduction
It is my favorite verse today. I read it first time, but I like the statement. One person pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth.
Saturday, February 9, 2019
45555 YALE ROAD, Chilliwack, British Columbia V2P0A9
- 1 Beds
- 1 Baths
- 635 Sqft
Location
Description for 45555 YALE ROAD
ATTENTION First time Buyers and Investors!! Come and see this great 1 bedroom 1 bathroom condo in "The Vibe"! Completely redone from top to bottom this immaculate unit features a brand new kitchen with stainless steel appliances, quartz countertops, and beautiful tile backsplash. Fresh paint, and new contemporary vinyl flooring give this unit a modern feel. Other features include, new lighting and blinds throughout, as well as a new vanity and dual flush toilet in the ensuite. Superb patio has access from both the master bedroom and living room. Centrally located to all amenities, the highway and new Molson Brewery! Rent out or live in today! (id:1937)
Here is the link.
Home price: $199,000
Down payment: 20% $39,980
Mortgage amount: $159,920
Rate type: Fixed
Term: 5 years
Location: Chilliwack
Scotia bank 3.69% $815
45744 SPADINA AVENUE, Chilliwack, British Columbia
Here is the information. Here is the link.
Home price: $174,900
Down payment: 20% $34,980
Mortgage amount: $139,920
Rate type: Fixed
Term: 5 years
Location: Chilliwack
3.69%, $713/ month
- 2 Beds
- 1 Baths
- 785 Sqft
Home price: $174,900
Down payment: 20% $34,980
Mortgage amount: $139,920
Rate type: Fixed
Term: 5 years
Location: Chilliwack
3.69%, $713/ month
Why it is important to keep good relationship with friends?
February 9, 2019
It is my personal finance research. I like to write a good quality blog related to the topic.
One thing I have to do is to gather facts from my personal experience.
1. In 2009, I filed an appeal for leave case in Canada Federal court. I need to provide a Canada post office address. I asked the help from my Shanghai Jiaotong University classmate and we stayed the same dorm 7 of us 4 years from 1984 to 1988. Both of us are Christians, we worked together very well on my case, and I decided to choose to live in the city of Vancouver.
2. I will think carefully and write a few more friends.
Introduction
It is my personal finance research. I like to write a good quality blog related to the topic.
Facts
One thing I have to do is to gather facts from my personal experience.
1. In 2009, I filed an appeal for leave case in Canada Federal court. I need to provide a Canada post office address. I asked the help from my Shanghai Jiaotong University classmate and we stayed the same dorm 7 of us 4 years from 1984 to 1988. Both of us are Christians, we worked together very well on my case, and I decided to choose to live in the city of Vancouver.
2. I will think carefully and write a few more friends.
Why I choose to write every day?
Feb. 9, 2019
It is Saturday and this 4:00 PM I have to go to party to meet my Shanghai Jiaotong Univeristy classmates in the city of Vancouver. I have to learn from friends and also keep good relationships. I start to share my blogs related to personal finance, since all my friends have 10 times more compared to my wealth.
I have full time job, and I also work on a few project last two weeks. I need to find a renter for my Florida Boca Raton condo, and I need to give out guidance to my nephew related to his principal application. I have to follow up wealthy friends and also keep them entertained. One of them is to share my personal finance blogs.
I choose not to be a driver for my rich elder sister. I was naive and paid $500 dollar for renting a car, a brand new car with 3000 miles, I took risk and spent time to drive one day to Yosemite in 2014; I decide not to be a servant to my sister. I need to save those airline ticket, rental fee of car, risk of car accident which may bring me a lot of trouble. One idea is to stay distance from wealth friends and relatives.
Introduction
It is Saturday and this 4:00 PM I have to go to party to meet my Shanghai Jiaotong Univeristy classmates in the city of Vancouver. I have to learn from friends and also keep good relationships. I start to share my blogs related to personal finance, since all my friends have 10 times more compared to my wealth.
Feel good to share with friends
I have full time job, and I also work on a few project last two weeks. I need to find a renter for my Florida Boca Raton condo, and I need to give out guidance to my nephew related to his principal application. I have to follow up wealthy friends and also keep them entertained. One of them is to share my personal finance blogs.
I choose not to be a driver for my rich elder sister. I was naive and paid $500 dollar for renting a car, a brand new car with 3000 miles, I took risk and spent time to drive one day to Yosemite in 2014; I decide not to be a servant to my sister. I need to save those airline ticket, rental fee of car, risk of car accident which may bring me a lot of trouble. One idea is to stay distance from wealth friends and relatives.
Blog keyword search: lottery winner
Feb. 9, 2019
It is my favorite reading when I feel tired and like to learn something related to money. I search my blog using keyword: lottery winner, here are blogs to read.
Introduction
It is my favorite reading when I feel tired and like to learn something related to money. I search my blog using keyword: lottery winner, here are blogs to read.
Case study: IRA CD 4010 from 2006 to 2019
Feb. 9, 2019
It is my personal finance study. I started the research starting from Nov. 2018. Tonight I spent more than two hours to sort all papers related to 4 CD accounts from New York community bank. I like to case study No. 1 account from 2006 to 2019.
First of all, I am still pushing myself to learn how to manage accounts. This is the first time I decided to spend time to sort out all CD statements, and then staple all statements for one account together.
I just could not believe that it is such great feeling. I have luxury time to review my own finance statement, and then look into the issues. How should I do in order to manage accounts and do it proper way.
My belief is that I have to build good finance habits first. In order to grow rich and build wealth, I have to learn and train myself to take business seriously.
I chose easy way to put No. 1 account with New Community bank CD. Since I experienced 2002, 2008 recession, I sold all stocks and IRA, and took the loss.
One thing is that I did not spend time from 2010 to 2018 November to study finance and investment at all.
What I like to do is to check in all statements in github, and then share in juliapersonalfinance. I was so glad to learn from my own experience. Even though I only made the interest from CD from 2006 to 2019.
I like to play with those numbers and then try to figure out something basic things.
Account No: 4010
Year Interest
2008 5.070
2009 4.163
2010 1.095
2011 1.489
2012 2.230
2013 2.230
2014 2.230
2015 2.230
2016 2.230
Year Amount
2007 5,597.26
2008 5,730.42
2009 5815.10
2010 6052.43 <- add more than $3000 IRA this time ?
2011 10,549.99
2012 10830.00
2013
2014
2015 11324.19
2016 11579.55
2017
2018
2019 12,409
I saved some statements by looking up my paper work. I try to read those finance data and figure out how I should manage better if I have chance.
Date: 2008-01-25
Current interest rate: 5.070
Current APY: 5.20
Next renewal Date: 3/3/09
Date: 2009-08-03
Current interest rate: 4.163%
Next renewal date: 9/09/2010
Reinvestment date: 9/09/09
New maturity date: 3/09/10
New interest rate: 1.095
New apy: 1.10%
I need to look up data from Form 5498 in order to get the balance for the account 4010.
It is hard for me to figure out the detail since I did not do annual checking for this account. It is hard for me to figure out the detail, but at least I made some interest and compound interest amount based on this account.
Introduction
It is my personal finance study. I started the research starting from Nov. 2018. Tonight I spent more than two hours to sort all papers related to 4 CD accounts from New York community bank. I like to case study No. 1 account from 2006 to 2019.
Case study
First of all, I am still pushing myself to learn how to manage accounts. This is the first time I decided to spend time to sort out all CD statements, and then staple all statements for one account together.
I just could not believe that it is such great feeling. I have luxury time to review my own finance statement, and then look into the issues. How should I do in order to manage accounts and do it proper way.
My belief is that I have to build good finance habits first. In order to grow rich and build wealth, I have to learn and train myself to take business seriously.
Facts to review
I chose easy way to put No. 1 account with New Community bank CD. Since I experienced 2002, 2008 recession, I sold all stocks and IRA, and took the loss.
One thing is that I did not spend time from 2010 to 2018 November to study finance and investment at all.
What I like to do is to check in all statements in github, and then share in juliapersonalfinance. I was so glad to learn from my own experience. Even though I only made the interest from CD from 2006 to 2019.
Financial date quick review
It is hard for me to understand the account with balance and changing interest rate, from high 5.20 to low 1.095.I like to play with those numbers and then try to figure out something basic things.
Account No: 4010
Year Interest
2008 5.070
2009 4.163
2010 1.095
2011 1.489
2012 2.230
2013 2.230
2014 2.230
2015 2.230
2016 2.230
Year Amount
2007 5,597.26
2008 5,730.42
2009 5815.10
2010 6052.43 <- add more than $3000 IRA this time ?
2011 10,549.99
2012 10830.00
2013
2014
2015 11324.19
2016 11579.55
2017
2018
2019 12,409
One statement a time
I saved some statements by looking up my paper work. I try to read those finance data and figure out how I should manage better if I have chance.
Date: 2008-01-25
Current interest rate: 5.070
Current APY: 5.20
Next renewal Date: 3/3/09
Date: 2009-08-03
Current interest rate: 4.163%
Next renewal date: 9/09/2010
Reinvestment date: 9/09/09
New maturity date: 3/09/10
New interest rate: 1.095
New apy: 1.10%
Actionable Items
I need to look up data from Form 5498 in order to get the balance for the account 4010.
It is hard for me to figure out the detail since I did not do annual checking for this account. It is hard for me to figure out the detail, but at least I made some interest and compound interest amount based on this account.
meetup finance
Feb. 9, 2019
It is the first time I attended the meetup hosted by 9cat related to finance. I went to Burnaby meetup in the van city community room in town center of Logheed mall.
This week 9Cat Burnaby meetup topics
讲座：初创公司融资概论
主讲人：Andy Tian
关于Andy Tian
Andy Tian是UBC的MBA master of Finance。现在是一家温哥华的新创公司的合伙人，
Lecture: Financing for startups： an overview
Lecturer: Andy Tian
About Andy Tian
Andy Tian is UBC MBA master of Finance. Now Vancouver startup cofounder. Investment Analyst of Goldenwise Capital Management (hedge fund), 3 years of Equity and derivative trader in China .
Friday, Feb. 1, 2019
7:30 PM to 10:30 PM
Every week on Friday
VanCity Community Room
3977 north road, Burnaby, BC
Introduction
It is the first time I attended the meetup hosted by 9cat related to finance. I went to Burnaby meetup in the van city community room in town center of Logheed mall.
Take some notes
This week 9Cat Burnaby meetup topics
讲座：初创公司融资概论
主讲人：Andy Tian
关于Andy Tian
Andy Tian是UBC的MBA master of Finance。现在是一家温哥华的新创公司的合伙人，
Lecture: Financing for startups： an overview
Lecturer: Andy Tian
About Andy Tian
Andy Tian is UBC MBA master of Finance. Now Vancouver startup cofounder. Investment Analyst of Goldenwise Capital Management (hedge fund), 3 years of Equity and derivative trader in China .
Friday, Feb. 1, 2019
7:30 PM to 10:30 PM
Every week on Friday
VanCity Community Room
3977 north road, Burnaby, BC
My notes
I did take some note in hand writing. I like to look into later.Thursday, February 7, 2019
Your social security statement
Feb. 7, 2019
It is my personal finance research. I have to spend time to look into those statements. I worked in United States for a few startup companies from 1998 to 2007. I have to look into and then I like to push myself to learn more related to USA social security benefits.
Introduction
It is my personal finance research. I have to spend time to look into those statements. I worked in United States for a few startup companies from 1998 to 2007. I have to look into and then I like to push myself to learn more related to USA social security benefits.
STOCK MARKET FOR BEGINNERS 📈 How To Invest As A COMPLETE Beginner In 2019!
Here is the link.
2:31 - Intro (Realistic Expectations) 9:07 - Lesson #1 (Buy Low, Sell High) 14:57 - Lesson #2 (Ignore the Noise) 20:20 - Lesson #3 (Stock Market = Pendulum) 24:12 - Lesson #4 (Invest in What You Know) 27:45 - Lesson #5 (Plan Out Your Investments) 30:39 - Lesson #6 (Diversify) 34:18 - Lesson #7 (Low Share Price Doesn’t Equal Cheap) 37:19 - Lesson #8 (The Value of Money) 42:50 - Lesson #9 (Speculation) 45:10 - Lesson #10 (Timing the Market)
2:31 - Intro (Realistic Expectations) 9:07 - Lesson #1 (Buy Low, Sell High) 14:57 - Lesson #2 (Ignore the Noise) 20:20 - Lesson #3 (Stock Market = Pendulum) 24:12 - Lesson #4 (Invest in What You Know) 27:45 - Lesson #5 (Plan Out Your Investments) 30:39 - Lesson #6 (Diversify) 34:18 - Lesson #7 (Low Share Price Doesn’t Equal Cheap) 37:19 - Lesson #8 (The Value of Money) 42:50 - Lesson #9 (Speculation) 45:10 - Lesson #10 (Timing the Market)
Wednesday, February 6, 2019
How to build my own personal finance curriculum?
Feb. 7, 2019
It is my personal finance research. What I believe that one person can grow rich if he/ she is well educated in terms of personal finance. I like to learn more about personal finance. The most challenge is how to be a smart and efficient self-learner.
I like to learn some basic terms, work on some math related to finance, and learn some principles. I like to find some good books, mentors, and also community to build and share and grow together.
Introduction
It is my personal finance research. What I believe that one person can grow rich if he/ she is well educated in terms of personal finance. I like to learn more about personal finance. The most challenge is how to be a smart and efficient self-learner.
Curriculum
I like to learn some basic terms, work on some math related to finance, and learn some principles. I like to find some good books, mentors, and also community to build and share and grow together.
1000 hours personal finance research
Feb. 6, 2019
It is time for me to make plans in terms of what to work on after work and weekends. I like to spend some time to do personal finance research. I chose to start to work on personal finance research in Nov. 2018, and I like to continue and push myself to learn more. One thing I can do is to work on personal finance research and learn 1000 hours first.
I like to find projects to work on.
Introduction
It is time for me to make plans in terms of what to work on after work and weekends. I like to spend some time to do personal finance research. I chose to start to work on personal finance research in Nov. 2018, and I like to continue and push myself to learn more. One thing I can do is to work on personal finance research and learn 1000 hours first.
Ideas to look into
I like to find projects to work on.
Ryan Scribner
Feb. 6, 2019
It is time for me to plan what I should learn in terms of personal finance research. I like to work on something related to stock market, but I do like to learn something first. Ryan scribner is the channel I like to spend time to learn.
Introduction
It is time for me to plan what I should learn in terms of personal finance research. I like to work on something related to stock market, but I do like to learn something first. Ryan scribner is the channel I like to spend time to learn.
Try to live on $100 grocery
Feb. 6, 2019
It is my personal finance. I like to figure out how to live one month and only spend $100.00 dollars in grocery. How can I do that?
I like to figure out how to make a living in one month to spend only $100 dollars on grocery. Can I do it? How can I do it?
I like to have some weight control and one idea is to cut down the expense. I need to look into how many unprocessed food for me to consume. What time/ how often should I shop for grocery?
Introduction
It is my personal finance. I like to figure out how to live one month and only spend $100.00 dollars in grocery. How can I do that?
My short term research
I like to figure out how to make a living in one month to spend only $100 dollars on grocery. Can I do it? How can I do it?
I like to have some weight control and one idea is to cut down the expense. I need to look into how many unprocessed food for me to consume. What time/ how often should I shop for grocery?
6 Money Traps to Avoid in Your 30s | Phil Town
Here is the link.
1 1:04 Buying a car out of your price range 2 3:14 Buying a home out of your price range 3 4:31 Spending too much going out 4 5:30 Having an expensive significant other 5 7:00 Paying too much for credit card bills 6 8:08 Not investing.
"If you buy things you don't need, you will soon sell things you need" .....Warren Buffett
1 1:04 Buying a car out of your price range 2 3:14 Buying a home out of your price range 3 4:31 Spending too much going out 4 5:30 Having an expensive significant other 5 7:00 Paying too much for credit card bills 6 8:08 Not investing.
"If you buy things you don't need, you will soon sell things you need" .....Warren Buffett
Case study: 2012 citi credit card statements
Feb. 6, 2019
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.
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.
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.
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.
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
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.
53 Best Dividend Stocks for 2018 and Beyond
Feb. 6, 2019
It is my personal finance research. I like to push myself learn more about finance. One thing is to read about more companies with dividends. One of companies is ITW. I went to interview in 2006. Here is the link.
Introduction
It is my personal finance research. I like to push myself learn more about finance. One thing is to read about more companies with dividends. One of companies is ITW. I went to interview in 2006. Here is the link.
14 Retirement Mistakes You Will Regret Forever
Feb. 6, 2019
It is my personal finance research. I have to push myself to read more content related to stock market and other investments. Here is the article I like to read called 14 retirement mistakes you will regret forever.
It is mistake 11: Avoid stock market
Introduction
It is my personal finance research. I have to push myself to read more content related to stock market and other investments. Here is the article I like to read called 14 retirement mistakes you will regret forever.
My favorite learning
It is mistake 11: Avoid stock market
Shying away from stocks because they seem too risky is one of the biggest mistakes investors can make when saving for retirement. True, the market has plenty of ups and downs, but since 1926 stocks have returned an average of about 10% a year. Bonds, CDs, bank accounts and mattresses don't come close.
"Conventional wisdom may indicate the stock market is 'risky' and therefore should be avoided if your goal is to keep your money safe," says Elizabeth Muldowney, a financial adviser with Savant Capital Management in Rockford, Ill. "However, this comes at the expense of low returns and, in fact, you have not eliminated your risk by avoiding the stock market, but rather shifted your risk to the possibility of your money not keeping up with inflation."
We favor low-cost mutual funds and exchange-traded funds because they offer an affordable way to own a piece of hundreds or even thousands of companies without having to buy individual stocks. And don't even think about retiring your stock portfolio once you reach retirement age, says Murphy, of Fidelity Investments. Nest eggs need to keep growing to finance a retirement that might last 30 years. You do, however, need to ratchet down risk as you age by gradually reducing your exposure to stocks.
Tuesday, February 5, 2019
FrancisKong.com: Mastery and Discipline
Here is the link.
10,000 hours rule - discipline
Mastery and discipline - go to chores, and build up levels by expertise. The discipline is the key to the mastery.
10,000 hours rule - discipline
Mastery and discipline - go to chores, and build up levels by expertise. The discipline is the key to the mastery.
Monday, February 4, 2019
What Really Makes The Rich Get Richer And The Poor Get Poorer - The Five Laws Of Gold
Here is the link.
1. Pay yourself first
3:11/ 8:09
2. Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.
1. Pay yourself first
3:11/ 8:09
2. Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.
Book: How an economy grows and why it crashes - Peter D. Schiff
Here is the video link.
0:56 / 9:34
Reality check:
The possibility of using tools, alongside reduced consumption and risk taking, creates financial wealth.
0:56 / 9:34
Reality check:
The possibility of using tools, alongside reduced consumption and risk taking, creates financial wealth.
Write a letter for my relative as a principal applicant
Feb. 4, 2019
It is hard for me to help my relative to learn how to listen to others. I got a letter from Hong Kong immigration office called procedure fairness letter yesterday. I plan to write a letter and explain what happened and ask for the help if need. We will get another certificate but China is celebrating Chinese new year and it may take a few days break every office in China.
In order to sponsor my young relative, we have to do DNA test and also provide death certification of my late mom and father. We got letter in Dec 5, 2018, and we need to mail the document before Jan. 19, 2019. My relative sent out the package but Hong Kong visa office did not receive the letter before Jan. 19, 2019 deadline.
There are two possible reasons. One is the person picking up the mail for expedite mail did not do the work; The second one is that my relative did not put any reference related to client number or application number in the package.
Introduction
It is hard for me to help my relative to learn how to listen to others. I got a letter from Hong Kong immigration office called procedure fairness letter yesterday. I plan to write a letter and explain what happened and ask for the help if need. We will get another certificate but China is celebrating Chinese new year and it may take a few days break every office in China.
Being a sponsor
In order to sponsor my young relative, we have to do DNA test and also provide death certification of my late mom and father. We got letter in Dec 5, 2018, and we need to mail the document before Jan. 19, 2019. My relative sent out the package but Hong Kong visa office did not receive the letter before Jan. 19, 2019 deadline.
There are two possible reasons. One is the person picking up the mail for expedite mail did not do the work; The second one is that my relative did not put any reference related to client number or application number in the package.
7 Financial Skills I Wished I Would Have Learned in High School
Here is the link.
#1: How Credit Cards and Interest Rates Work #2: How to Balance a Checkbook #3: Budgeting Basics #4: The Power of Compound Interest #mindblown #5: How to Build Credit (or not ruin it) #6: Investing and Stock Market Basics #7: How to Start a Biz-nass
#1: How Credit Cards and Interest Rates Work #2: How to Balance a Checkbook #3: Budgeting Basics #4: The Power of Compound Interest #mindblown #5: How to Build Credit (or not ruin it) #6: Investing and Stock Market Basics #7: How to Start a Biz-nass
Behavioral finance topics
Here is the link.
Mental accounting
Prospect theory ( Part 1)
- Loss aversion, sun fallacy
Prospect theory ( Part 2)
- Status quo bias, endowment effect, regret aversion
Money illusion and bigness bias
Anchoring and confirmation bias
Overconfidence
Herd mentality
Role of emotions
Mental accounting
Prospect theory ( Part 1)
- Loss aversion, sun fallacy
Prospect theory ( Part 2)
- Status quo bias, endowment effect, regret aversion
Money illusion and bigness bias
Anchoring and confirmation bias
Overconfidence
Herd mentality
Role of emotions
NEXTERA ENERGY (FPL)
Feb. 4, 2019
It is my personal finance research. I did purchase FPL stock in 2001 20 shares with $55.00 dollars. Now the price is $177.82 dollars.
Introduction
It is my personal finance research. I did purchase FPL stock in 2001 20 shares with $55.00 dollars. Now the price is $177.82 dollars.
2001 IRA account stock purchase
Sunday, February 3, 2019
Hedge Your Nest Eggs Against Volatile Market Swings
Here is the link.
May 5, 2019 3:57 PM
I played the video again and I like to write down main ideas from the interview.
How can individuals How can individuals hedge their nest eggs against volatile market swings? Three experts join us with different diversification solutions. Top rated financial planner Mark Cortazzo specializes in guaranteed income investments, Peter Crane is the king of cash equivalents, and Jim Lebenthal is a veteran of the municipal bond world.? Three experts join us with different diversification solutions. Top rated financial planner Mark Cortazzo specializes in guaranteed income investments, Peter Crane is the king of cash equivalents, and Jim Lebenthal is a veteran of the municipal bond world. Broadcast on March 28, 2008.
May 5, 2019 3:57 PM
I played the video again and I like to write down main ideas from the interview.
How can individuals How can individuals hedge their nest eggs against volatile market swings? Three experts join us with different diversification solutions. Top rated financial planner Mark Cortazzo specializes in guaranteed income investments, Peter Crane is the king of cash equivalents, and Jim Lebenthal is a veteran of the municipal bond world.? Three experts join us with different diversification solutions. Top rated financial planner Mark Cortazzo specializes in guaranteed income investments, Peter Crane is the king of cash equivalents, and Jim Lebenthal is a veteran of the municipal bond world. Broadcast on March 28, 2008.
FAU has medicine school
Feb. 3, 2019
It is tough for me to work on marketing and sales as a home owner near Florida Atlantic University. I have to push myself to serve people better. One thing is to find a new renter in the current market.
One thing to be a home owner in Florida is to push myself to reach out Chinese community near FAU campus; I have lived there over 14 years. I tried so many things but I like to learn to build wealth.
Wealth like a tree, starts from a seed.
Introduction
It is tough for me to work on marketing and sales as a home owner near Florida Atlantic University. I have to push myself to serve people better. One thing is to find a new renter in the current market.
A few ideas to work on
One thing to be a home owner in Florida is to push myself to reach out Chinese community near FAU campus; I have lived there over 14 years. I tried so many things but I like to learn to build wealth.
Wealth like a tree, starts from a seed.
Case study: 100 minutes mock interview
Feb. 3, 2019
It was a mock interview and I had very good discussion with an experienced software programmer and we worked together and discussed the algorithms over 100 minutes. The interview date was Jan. 31, 2019 10:00 PM - 11:50 PM.
I like to write down a case study for this mock interview.
Introduction
It was a mock interview and I had very good discussion with an experienced software programmer and we worked together and discussed the algorithms over 100 minutes. The interview date was Jan. 31, 2019 10:00 PM - 11:50 PM.
Case study
I like to write down a case study for this mock interview.
My reading plan
Feb. 3, 2019
It is my personal finance research. I try to know more about people and also I like to read more well-written article. The goal to read is to push myself learn how to think and analyze based on financial problems.
Here is the website for me to read called Rober J. Shiller - The New York Times.
Introduction
It is my personal finance research. I try to know more about people and also I like to read more well-written article. The goal to read is to push myself learn how to think and analyze based on financial problems.
Reading plan
Here is the website for me to read called Rober J. Shiller - The New York Times.
Saturday, February 2, 2019
MoneyTrack Ep. 306: Straight Talk with John Bogle
Here is the link.
12:57/ 25:38
Bogle's Financial Plan
1. Own a diversified stock portfolio
2. Own a diversified bond portfolio
3. Increase bond to stock ratio with age.
4. Reduce brokerage fees.
12:57/ 25:38
Bogle's Financial Plan
1. Own a diversified stock portfolio
2. Own a diversified bond portfolio
3. Increase bond to stock ratio with age.
4. Reduce brokerage fees.
What if I plan to go back to China?
Feb. 2, 2019
It is my personal finance research. I like to look into the topic called "What if I plan to go back to China?"
I chose to become a Canadian citizen as soon as possible once I landed in Canada in 2010. I need to find a place that I can retire.
I became a Canadian citizen in November 2014. I start to work on a series of problems and learn how to solve them one by one.
One of them is to build wealth and grow rich. I notice that I start to experience difference when I turned 50 years old.
Introduction
It is my personal finance research. I like to look into the topic called "What if I plan to go back to China?"
Canadian citizen
I chose to become a Canadian citizen as soon as possible once I landed in Canada in 2010. I need to find a place that I can retire.
I became a Canadian citizen in November 2014. I start to work on a series of problems and learn how to solve them one by one.
One of them is to build wealth and grow rich. I notice that I start to experience difference when I turned 50 years old.
What if I plan to go back to China?
Vanguard Founder Jack Bogle's '90s Interview Shows His Investing Philosophy
Here is the link.
Read books by John C. Bogle.
1. The little book on common sense investing.
2. Bogle on mutual funds
3. Common sense on mutual funds.
4. Bogle on investing, the 50 years.
5. Enough
6. Clash of Cultures.
7. Character counts.
8. Battle for soul of capitalism .
Read books by John C. Bogle.
1. The little book on common sense investing.
2. Bogle on mutual funds
3. Common sense on mutual funds.
4. Bogle on investing, the 50 years.
5. Enough
6. Clash of Cultures.
7. Character counts.
8. Battle for soul of capitalism .
My best coaches in personal finance
Feb. 2, 2019
It is my personal finance research. I started from November 2008. I started to find so many coaches through books and youtube videos. I like to write down top 10 best coaches and then I need to push myself to learn better.
1. Top 1: Francis Kong
2. Top 2: Suze Orman
3. Top 3: Tony Robbins
4. Top 4: Jack Bogle
5. Top 5: Our rich journey - youtube.com
6. Top 6: Rebecca Bustamante - Thought leaders
7. Top 7: Lottery winners end up broke - case study 20 winners
8. Top 8: Barbara corcoran - one hour talk
9. Top 9: Dave Ramsey - learn how to do plastic surgery, here is the talk
10. Top 10: John Carreyrou's bad blood book - here is the link
I try to cover as many as topics I can, and also I find that the learning is so exciting and also enjoyable. It is so painful for me to review my past experience, and I like to push myself to learn the basics.
Introduction
It is my personal finance research. I started from November 2008. I started to find so many coaches through books and youtube videos. I like to write down top 10 best coaches and then I need to push myself to learn better.
My top 10 coaches
1. Top 1: Francis Kong
2. Top 2: Suze Orman
3. Top 3: Tony Robbins
4. Top 4: Jack Bogle
5. Top 5: Our rich journey - youtube.com
6. Top 6: Rebecca Bustamante - Thought leaders
7. Top 7: Lottery winners end up broke - case study 20 winners
8. Top 8: Barbara corcoran - one hour talk
9. Top 9: Dave Ramsey - learn how to do plastic surgery, here is the talk
10. Top 10: John Carreyrou's bad blood book - here is the link
My three months self-learning
I try to cover as many as topics I can, and also I find that the learning is so exciting and also enjoyable. It is so painful for me to review my past experience, and I like to push myself to learn the basics.
Discipline is Key to Everything
Here is the link.
Discipline is to delay gratification. Push yourself to complete the task and then enjoy the benefit later.
Discipline is to delay gratification. Push yourself to complete the task and then enjoy the benefit later.
Case study: Scotia US dollar saving account
February 2, 2019
It is my personal finance research. I like to look into my Scotia us dollar saving account, and then I like to push myself to learn from my mistakes; I need to push myself to learn more about personal finance.
Here are the list of things for me to do.
1. Get together all copy of statements from my paper records.
2. Sort them by the year.
3. Take picture for last statement for each year.
4. Check in my github folder
5. Share my personal finance github folder
6. Create an excel sheet with all the balance
7. Ask questions, and talk about mistakes I make on those years
8. Brainstorm ideas how to manage those balance
Budget time to work on the account 4 hours+.
Introduction
It is my personal finance research. I like to look into my Scotia us dollar saving account, and then I like to push myself to learn from my mistakes; I need to push myself to learn more about personal finance.
Case study
Here are the list of things for me to do.
1. Get together all copy of statements from my paper records.
2. Sort them by the year.
3. Take picture for last statement for each year.
4. Check in my github folder
5. Share my personal finance github folder
6. Create an excel sheet with all the balance
7. Ask questions, and talk about mistakes I make on those years
8. Brainstorm ideas how to manage those balance
Budget time to work on the account 4 hours+.
Analysis of my saving account
I learned on Feb. 1, 2019 that Vanguard US index fund VUSXX has 2% yield. I should move those fund from 2010 October to my USA chase checking account, and transfer the fund to Ameritrade account.
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