Why did I choose that title? Simple. I don't claim to be a financial guru or a wizard with numbers, however I have learned a few simple rules of personal finance that have served me well so far. The first motto of personal finance being -- don't put your eggs all in one basket!
Case in point: Let me take you back to the year 1999. I was drafted into the technology sector on the promise of riches and travel. Everyone was talking about their large signing bonuses to this IT company or that IT company, and the goal was to get in on some tech stocks and set sail. Well, just like an old Batman TV show shown on CBC's Switchback, all that you heard was Bang-Zoom-Biff-Zap-Crash as the market dropped and everyone that invested all their savings in one stock suddenly started to weep.
If Aesop was alive today then we'd be reading a personal finance story about a little bull that put all of it's eggs in one basket and then lost them all to some bear or even some tax man. (Note: did you catch the animal symbolism??? Who needs Animal Farm)
I plan on using this blog to help you learn from my personal finance lessons learned while I strive to make the million before the age of 40. Here's how George from The Hour would break down my bio:
Name: (I'll leave that for later in case I get sued for some reason)
City: Ottawa, Ontario, Canada
Age: 31 (9 years 'til goal, if not sooner!)
Occupation: Federal Civil Servant
Education: Bachelor of Business Administration
Family: Common-law partner, and 1 child
Objective: expand personal level of wealth through diversification and passive income assets
For my initial personal finance entry I just wanted to introduce myself and set the stage. Here's what coming up:
* Learn as I go through the process of acquiring my first real estate investment property.
* What is an RRSP Mortgage?
* Realtors -- Can't live with them and do I really need them?
* What can the Ab Lounge, Magic Bullet, and Jessica Alba teach me?
* Real estate analysis. The 30 second calculation.
* Mortgage + Condo fees + Property Tax + Insurance + Backup Plan Fund = Rental Loss. Did I sign up for that?
* Plus lots more of solid gold material.....minus the solid gold dancers.