2019-10 Month Review

My daughter and husband were both very ill with flu symptoms earlier this month. Their symptoms lasted a long time. And my daughter had to write midterms during her illness. Oh yay. Whatever doesn’t kill you makes you stronger. Maybe.

We also had a friend who lives overseas visit us this month. His son wants to attend an Ivy League university. Thank goodness our family doesn’t care about such things. It sounds like it costs a mint and it is only for an undergraduate degree. No thanks.

We pay if we think the degree may help our kids get a career. Not some name brand university. I do not believe that any of this stuff is a guarantee.

Simplify – Finances

  1. Decided to only keep two accounts for my son. Just use the TFSA and RRSP. Forget about taxable accounts for now. Avoid tax complexity if possible.
  2. I have auto payments in our numerous bank and credit card accounts. I made an excel spreadsheet which showed the days of the week that the payments were coming out as well as the associated account. And I left these with the kids while we’re on vacation.
  3. I also made a binder which had all our bills and financial accounts in it. Having everything online is useful for the person who is managing the accounts regularly. But if something were to happen to the main person it would be very difficult to locate these accounts. In the past people have statements laying all around their home office which made it easier.
  4. I also set buy orders for VGRO in case the market moves while I am on vacation. Very handy. This allows me to ignore my accounts while I am on vacation and using public wifi. That is the point of what I am trying to accomplish. I want to be able to walk away and it is all managed with minimal/zero input from me.

Insight

I think my financial superpower is that I have insight into what makes me happy. And I have insight into my abilities and definitive lack thereof.

Over the years I have come to realize these things about myself.

  • I am not an amazing investor.
  • I do not want to start a side hustle.
  • I do not want to start a business.
  • I do not enjoy managing real estate. I like renting to our own practice in the commercial unit and allowing family to live in the residential units instead.
  • I do not like relying on networks. I can barely get my accountant and lawyer to manage my accounts on time. I am merely one of their many clients.
  • I enjoy my privacy.
  • I really enjoy having good relationships and good health.
  • Almost every additional thing one brings into one’s life is a hassle in time and energy. I am at the age where I just have zero interest in any of this now.

And on that note, I am off to Asia for a couple of weeks for funsies with my hubby.

My pack weight is 8 lbs including my backpack. Let’s see how this holds up for my travels.

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