when do I get my adult certificate?
Stop me if you’ve heard this piece of financial advice before: “You should save 10% of your income.” It’s one of those general financial guidelines floating around out there most people (i.e. me) have heard of. I wouldn’t call it the worst piece of financial advice but it’s certainly not a good one. Spending 90%…
I’m progressing nicely towards my goal of having over $50k in net worth by the end of this year. The numbers make it look like I’ll reach it in just a few months but there are taxes and exchange costs that will come out. Canada and China changed their tax rules recently and I’m very…
Something something, schools should teach students real finance. Today, I’m going to do a quick overview of what marginal taxes are, RRSPs, and how TFSAs are different from RRSPs. Marginal Tax Rates Imagine your gross income as money pouring out of a faucet and filling up buckets. Once the first one is filled, you get…
For someone who’s planning to retire really early it’s a little weird that I have never used a budget. This may change in the future, but for now, I don’t feel the need to*. My London Finance Review was the closest thing, and I’d recommend everyone should do one of those. I took what I…
You know the question “what would you do if you didn’t have to worry about money?” I want to find the answer to that while I’m young and able to act on it. I’m not aiming for the traditional idea of an idle retirement. I’m envisioning more of retirement from mandatory work into elective work. It’s being financially…
I had another post that spoke about why I will never own a car and mentioned that it is really expensive to have one. I didn’t dig into the finances on that one and based it more on my lifestyle needs. Here, I’m going to pull a hypothetical cost report together and also look at…
Took a month-long vacation in January (China, Vietnam, and Japan) and you can see the corresponding dip in my net worth haha. The tax forms from work are also late so there’s about $5000 extra in my Chinese bank account I didn’t factor into my calculations. Should be around $28k if we add in the…
Excluding material assets, my net worth is just over $25k. I’ll do a monthly net worth review of all my accounts as part of my financial goals for this year. I have a plan to retire before I hit 40* so this is as good a time as any to start tracking my progress. In…