I will start to document for our children why we are doing what we are doing financially.
I do not pretend to know what others should do but I know my children.
Keep things simple.
No surprise that this one is front and center as advice for my children.
We lost so much in terms of time, money and energy by dancing with complexity.
If anyone offers two financial options. A simple one and a more complicated one, on average chose the simpler one.
Actually this strategy applies to most arenas in life.
Your father and I would have less grey hairs and more wealth had we chosen simpler options.
That is why I am limiting the investment options to the asset allocation ETFs.
You will use VGRO because the plan is to save more rather than needing to build a 100% stocks portfolio. I am trying to teach you to NEVER need to go all in for any investment.
Once one tends to go all in, it will be as if you are tempting fate. Besides just save more, you can control that instead.
You can control your savings rate and your expenses. That is about it in life.
We did not keep things simple when we bought individual stocks.
Your father did not keep it simple when he bought a house he could not afford before we married.
So buy a house you can afford easily. Either rent it out for years or buy something cheaper. You do not need or want to keep moving up the house ladder. Houses are consumption items. It would be best to limit it.
But choose where you want to live. I recommend living close to work, school and shopping. It is good to be close to public transit. Cars can be very expensive.
Meal planning is something to get proficient at. You need to eat daily. Eating out all the time tends to be inconvenient, unhealthy and expensive. Expensive is the least important of those three.
When it comes to investing use asset allocation ETFs. I like the Vanguard ones. Your accounts are full of VGRO.
And stay with these investments. You will not rebalance these better than Vanguard. The MER of 0.25 is a small price to pay.
And if you play your cards right, this may be all you would ever need. An 80/20 global portfolio from your late teens. Now that would be the penultimate in simplicity.
Even when others have a so-called better strategy. Please ask yourself if you can or want to actually follow it. Many times the answer will be a fervent no.
Because the goal of money is not necessarily about gaining the largest pile. True wealth is when you do not have to pay much attention to it. It simply swirls in the background and is working when you do not want to.
And worrying about money is the opposite of wealth. No matter how large the numbers are.
Money is a tool to assist you in having a life you want. It is not an end in itself.
The most valuable thing that money can buy is the freedom to pursue work you enjoy.