# Feeling lost, need a goal/target.



## STech (Jun 7, 2016)

Please indulge me, and if possible offer some advice since I'm sure others have been in my shoes.

Up until recently, I had a financial goal to aim for, which felt good and was motivating. Now, the house is long paid for, TFSA is maxed, RRSP is six figures. It has room, but it doesn't make sense to max out. My daughter's RESP isn't maxed, but it's got 25K and she's only 5, so the pace is good.

Cash is accumulating in my chequing account and earning diddly. It's a nice problem to have for sure, but it's honestly making me feel way less motivated than before about working hard. Ultimately, my goal is to cut back on hours worked for my employer, and either have rental real estate, or a small commercial property. I'd love something like a coin car wash, or self storage units. OR, I start an unregistered account, and get serious and take risks with the stock market, but that's a crap shoot.


Anyone else been here before? Strange feeling being a little blue about what's otherwise a good financial picture, but I've always been a hardworking grind it out to the max kinda guy. I'm not yet in a spot where I can say adios to my job and jump in an RV and see the world. I definitely need a refresh, and a new target to aim for. I'll be 40 in a couple of years, and thinking maybe I should go back to school and do a major career change, I dunno.

Thanks for indulging me folks.


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## Pluto (Sep 12, 2013)

STech said:


> Please indulge me, and if possible offer some advice since I'm sure others have been in my shoes.
> 
> Up until recently, I had a financial goal to aim for, which felt good and was motivating. Now, the house is long paid for, TFSA is maxed, RRSP is six figures. It has room, but it doesn't make sense to max out. My daughter's RESP isn't maxed, but it's got 25K and she's only 5, so the pace is good.
> 
> ...


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## ian (Jun 18, 2016)

If you are not happy with your career choice and need a change you should do it. Lots of work years left. I made a significant career change in my late 20's/early 30's. 
I was very thankful that I did. I disliked my career path at that time and moved on to something that I subsequently very much enjoyed and was emotionally and financially very rewarding.


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## like_to_retire (Oct 9, 2016)

STech said:


> TFSA is maxed, RRSP is six figures. It has room, but it doesn't make sense to max out.


Why doesn't it make sense max it out? If you're ~38 years old now, you have 34 more years of tax free compounding until you're 72, (when you are required to convert the RRSP to a RRIF). Unless you feel in retirement that your marginal rate will be very much greater than it is now, it certainly does make sense to max it out. 

Six figures can be anywhere from $100,000 to $999,999, so you haven't provided much guidance there. Either way, the more the better. Max your RRSP.



> Cash is accumulating in my chequing account and earning diddly.


That's a mistake to be taken care of then. Open a non-registered account and start investing that accumulating cash. With a family you should keep about a years salary for emergencies in a non-registered brokerage account in an HISA. Have you done that?




> OR, I start an unregistered account, and get serious and take risks with the stock market, but that's a crap shoot.


Why do you need to take risks with the stock market? That's a bit confusing. Are you saying your six figure RRSP has no stock market exposure?



> I'll be 40 in a couple of years, and thinking maybe I should go back to school and do a major career change


Are you really that dissatisfied that you want to start all over at 40 years old. If you bear down you can probably retire in 20 years at 60. School is hard, even for a 20 year old mind. At 40, it's real hard.

ltr


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## ian (Jun 18, 2016)

School /post secondary may be hard for a time however if it leads to twenty years of job enjoyment and growth vs 20 years of unhappiness and boredom than it is time, effort, and money very well invested. 

What better investment is there than you own well being, happiness, and career? 

Make wise decisions whatever path you choose.


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## redsgomarching (Mar 6, 2016)

is this supposed to be a brag post? cant imagine somebody who has accumulated that much wealth before they are "40" doesn't have other financial goals.

owning your own business is a lot of work regardless if it is car wash, storage, etc. if you are going to invest into it you need to be willing to do the work to make sure you have a good return. 

if you are bored of your current job why not pursue this and dive into it? i know many professionals who worked for 10-15 years in their respective fields then dipped to open franchises, restaurants, car washes etc and they still work harder than ever.


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## STech (Jun 7, 2016)

Awesome, thanks for the replies so far. 

Regarding my job. I enjoy it a fair bit actually, and I'm very good at it. My only 2 gripes are A) I'm already at the top of the pile and can't learn/advance anymore and B) I'm an hourly employee, and more money only comes with more hours at work and away from the family. And that'll never change. In the past with a mortgage and TFSA to fill, working 55 or 60 hours a week had a real tangible benefit. Now, more and more I just see it as time away from the family. 

Going back to school and entering a more difficult field will be very hard, but might be well worth while at the end. 

I'm definitely not against staying at my current job until retirement, but I definitely want to start spending more of my energy on passive income, vs more overtime work. 

My RRSPs is a little short of 200k, and it does a bit of dividend income, but FAR short of retirement needs. My TFSA has almost no growth, but this is mainly due to me starting it after the mortgage was paid off. My investments have been very simple so far. 2 ETFs. VCN and XAW. They've done OK with a major boost coming during the 08-09 crash. I have a DB pension at work, and yeah I worry my retirement income will make me regret having too much in RRSPs. 

I know I can't market time, and not really sure how well I can pick individual stocks, vs the idea of owning real estate for example. 

And a brag thread? I beg to differ. That thread would be me tired of vacationing in the Bahamas. And yes I genuinely don't know where to aim and focus my energy on now. I just know I want more passive income. But how?


Thanks again for the ideas and questions. I definitely don't regret the path I've taken so far, but feel lost moving forward.


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## redsgomarching (Mar 6, 2016)

real estate can be quite exciting if you are able to deal with tenants/possibility of repairs etc. but it can also give you an opportunity to learn new skills that you may not be learning from your job which can be quite satisfying to some. it is a great outlet for passive income and generally, if passive income is your goal, you can tune out fluctuations in housing prices especially if you are in it for the long term. One thing that is good about owning your own real estate rental is that you are in control of who your tenants are, you screen them, you collect, you are in charge.

i know some people who worked like you did to acquire capital to finance these rental properties and now own about 4-5 and gross around 80k per year in passive income and they love it because while they can still work, they don't have to, and if they chose not to work you have more time to dedicate to family.


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## Beaver101 (Nov 14, 2011)

redsgomarching said:


> real estate can be quite exciting if you are able to deal with tenants/possibility of repairs etc. but it can also give you an opportunity to learn new skills that you may not be learning from your job which can be quite satisfying to some. it is a great outlet for passive income and generally, if passive income is your goal, you can tune out fluctuations in housing prices especially if you are in it for the long term. *One thing that is good about owning your own real estate rental is that you are in control of who your tenants are, you screen them, you collect, you are in charge.
> *
> i know some people who worked like you did to acquire capital to finance these rental properties and *now own about 4-5 and gross around 80k per year in passive income *and they love it because while they can still work, they don't have to, and if they chose not to work you have more time to dedicate to family.


 ... an in charge of the plumbing, leaking roofs, tenants from hell ... and rental properties are considered passive income? New one to me.

OTOH, maybe a rental property is what the OP needs - a new challenge. For a moment, I thought he was experiencing some mid-life crisis.


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## redsgomarching (Mar 6, 2016)

Beaver101 said:


> ... an in charge of the plumbing, leaking roofs, tenants from hell ... and rental properties are considered passive income? New one to me.
> 
> OTOH, maybe a rental property is what the OP needs - a new challenge. For a moment, I thought he was experiencing some mid-life crisis.


in terms of the income tax act, rental property income is generally considered investment/passive income. and it is generally less consuming as working a full time job which OP seems bored with which is why i mentioned that it is an opportunity to learn skills (handyman, house repairs etc) which for a lot of people is refreshing.

in terms of the issues you labelled, this is what i meant by control is that HE controls what he is investing in and has ultimate decisions on what tenants he accepts.


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## STech (Jun 7, 2016)

Beaver101 said:


> For a moment, I thought he was experiencing some mid-life crisis.


Lol, you might not be that far off. A small part of my brain keeps saying, eff it, you have plenty. Go buy a new truck and go see the world. But it's just a small part and I'm not listening to it (yet).

My first and most important goal was securing the family finances as best as possible. They might not live like kings if I die, but they're well taken care of. The problem with just working overtime, is that it's not an asset I can pass on, nor is it something I can partly do on the computer while camping. Even though it's secure money that I don't have to chase tennants for. I know I need to transition for sure. 

Something like self storage or a car wash, is doable because I can hopefully manage it without giving up my job completely. 

The idea of stock picking or doing that kind of work on a computer while camping is VERY appealing. But I have no idea how much of that is reality, and how much is just people trying to sell books and seminars.


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## redsgomarching (Mar 6, 2016)

i can tell you right now that car wash or self storage is not something you can do without giving up your job completely. 
1. it would be your business, your returns are tied to how hard you work for the business and generally you wouldnt want to pay somebody else to manage it because with cash based businesses its hard to find trustworthy employees who won't steal from you while you are away.
2. these typically require big upfront costs and potentially could have the same repair/maintenance type issues as real estate.


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## STech (Jun 7, 2016)

^ I suspect you're correct . But both are long term investments that should produce income, and can be passed on in the future. Plus they'll provide for expense write offs. 

But on the topic of stock investments, anyone care to share some good reading? Is taking an accredited course or two worthwhile? My investing has been pretty simple so far, and I'm not totally set against doing more.


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## My Own Advisor (Sep 24, 2012)

STech,

From what I've read, you've done very well....

There are not many people I know that have "house is long paid for, TFSA is maxed, RRSP is six figures."

If you want to spend more time on passive income, vs. overtime, I would consider starting a non-reg. account and investing there - especially if you feel the RRSP will provide a tax hit with your DB plan at work. 

To be honest, 20-30 years into a DB pension by your mid-40s + RRSP income + TFSA assets + paid off home sounds like a great financial position to be in. I dunno, maybe just me!!

I think the investing in a non-reg. account may provide some of the challenge you are looking for and somewhere to direct your energies, at least short-term over the next year or so to get that going, growing and become tax-efficient.


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## STech (Jun 7, 2016)

Thank you My Own Advisor. I'm not complaining about the situation at all, and I'm very grateful. It was just a lot of hard work and living within our means. It's way too early to just sit back and coast now, although admittedly I know we'll likely be OK.


With the DB at work, and RRSP growth, I think there's potential for a heavy tax hit down the road. I'll still put money into the RRSP, but I don't think it's wise to max it out.

My investing so far has been couch potato buy and hold. It has been good to me, but I honestly don't see the exponential growth to a point where dividends become healthy. And I'm definitely looking for something new to learn and spend some energy on. If a non registered account sounds like a good idea, then I'm willing to try it out. I'm with TDDI, and I don't really foresee myself trading often enough to open an account with the likes of Interactive Brokers.

So in the meantime, I'm open to suggestions on where to start some education on stock picking and what to do in my a non-registered account.


Cheers and thanks again.


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## Gumball (Dec 22, 2011)

Stech, first off congrats on your achievements so far, im in the same age bracket and hoping to be in similar shape in the near future, oh and by the way I found your post the farthest thing from a brag post, found it very motivational actually so thx for posting.+

Would you ever consider buying and renovating a house? depending on your skill set that may be something you could do? I think if I could find the right "fixer upper" I would sell my home, move into this one, renovate, and hopefully sell for profit without capital gains after a year or more (or live in it and be completely happy at whats been done) I dunno, just a thought.. my uncle did this a few times over the years and did very well...


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## STech (Jun 7, 2016)

Hi Gumball,

In another thread I talked about what I did with my first house. It was a starter home in a very good location. I lived in the basement and rented upstairs. I did some strategic renos to match the neighborhood, got rid of the tenants and sold the house for a good profit. In less than 5 years that house was paid off, and I lived in it and collected rent. It was a good move to say the least. 

I took that money and bought our current property with a small mortgage. My wife is nosy and keeps checking comparables in out area. She says our place should in the 800 range now. But really that makes no difference to me whatsoever. We're not moving anytime soon. 

I'm glad this thread motivates you. And trust me, I'm not going to be writing a book or anything, so belive me when I say I did nothing special and I'm not a genius at anything. Small smart decisions can lead to decent rewards over time. 

I wouldn't do house flips right now only because housing is mad in Ontario, and you can end up upside down very quickly. I also don't want to quit my job at the moment. 

One last piece of advice I can pass on. Don't count a family home as an investment. It's just a roof over our heads. Same goes with an inheritance. Depending on the amount, think of it as a boost of nitrous for your car, but your hard work should always be the engine. 

Good luck.


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## like_to_retire (Oct 9, 2016)

STech said:


> I wouldn't do house flips right now only because housing is mad in Ontario, and you can end up upside down very quickly.


Smart.



> I also don't want to quit my job at the moment.


Smart.



> One last piece of advice I can pass on. Don't count a family home as an investment. It's just a roof over our heads.


Smart.



> Same goes with an inheritance. Depending on the amount, think of it as a boost of nitrous for your car, but your hard work should always be the engine.


Again, smart. You're not sounding like the guy in the original post. Maybe you were just having a down day huh?

ltr


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## STech (Jun 7, 2016)

like_to_retire said:


> You're not sounding like the guy in the original post. Maybe you were just having a down day huh?
> 
> ltr



Yikes. Was it that bad? Dunno, maybe I was a little down, but not that bad. I've just hit a platuea and needed a refresh or shock to get me motivated again. 

So far, this thread is making me consider the non registered investing the most.


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## like_to_retire (Oct 9, 2016)

STech said:


> So far, this thread is making me consider the non registered investing the most.


Yep. Agree.

ltr


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## cashinstinct (Apr 4, 2009)

You could have for example Target of 30% annual savings rate, you max out annual contribution to TFSA, and RESP, and the rest goes non-reg.

Is your wife's TFSA maxed out too? You can give her money.

After you react your target, you are allowed to spend on a truck... or save more in non-reg!


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## peterk (May 16, 2010)

STech said:


> Awesome, thanks for the replies so far.
> 
> Regarding my job. I enjoy it a fair bit actually, and I'm very good at it. My only 2 gripes are A) I'm already at the top of the pile and can't learn/advance anymore and B) I'm an hourly employee, and more money only comes with more hours at work and away from the family. And that'll never change.
> .
> ...


I have no idea what profession you're in or even what industry you are talking about, so I'm going out on a limb here... But I'm wondering if this is _really_ the case, or just for your current situation partly due to being uninspired at your current employer? If you are only mid-late 30s I'm wondering if you are truly at the "top of the pile". Are you innovating new methods, mentoring a team, writing papers, advising VPs at your company? Are you famous in the industry? Perhaps instead of side schemes that will serve to encourage increased distraction from your career, a renewal and reinvigorated effort in your field with a bit of creativity, possibly with a change of employer, will yield the success you're looking for?

Asked another way: If at 45 you could be making double what you do now, as a senior advisor with more flexible hours and perks like trips, dinners, work variety, and near autonomy, would you still be thinking about starting an evening carwash?


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## STech (Jun 7, 2016)

cashinstinct said:


> You could have for example Target of 30% annual savings rate, you max out annual contribution to TFSA, and RESP, and the rest goes non-reg.
> 
> Is your wife's TFSA maxed out too? You can give her money.
> 
> After you react your target, you are allowed to spend on a truck... or save more in non-reg!


My wife's TFSA has some room, and probably a good idea to top that up first.

And I think for my sanity and motivation's sake, I wouldn't trade the truck money for more non-reg savings. Of course when I said "New" truck, I was talking about a 2-3 year old off lease, mid trim level. New and flashy enough to keep me happy, but not enough to make me poor.

I realized something today, and partly because of your post about setting a target. The TFSA and mortgage were a defined and limited number, and gave me a very specific target. The non registered account gave me a bit of anxiety, as it's basically an infinite account. Setting an X amount per year, I think will be a necessity for my psyche.





peterk said:


> I have no idea what profession you're in or even what industry you are talking about, so I'm going out on a limb here... But I'm wondering if this is _really_ the case, or just for your current situation partly due to being uninspired at your current employer? If you are only mid-late 30s I'm wondering if you are truly at the "top of the pile". Are you innovating new methods, mentoring a team, writing papers, advising VPs at your company? Are you famous in the industry? Perhaps instead of side schemes that will serve to encourage increased distraction from your career, a renewal and reinvigorated effort in your field with a bit of creativity, possibly with a change of employer, will yield the success you're looking for?


Unfortunately I'm in a bit of a niche market, and a certain set of skills, which is A)Good because the employer really wants to keep you, but B) Bad because there aren't too many large employers in the field. "Top of the pile" means I'm the certified department trainer. Even though I don't have direct subordinates, and everyone else is basically a co-worker, but they still have to pass certain tests with me for their jobs. Yes I do write internal papers, and always looking for better methods/materials, and more efficiency. 



> Asked another way: If at 45 you could be making double what you do now, as a senior advisor with more flexible hours and perks like trips, dinners, work variety, and near autonomy, would you still be thinking about starting an evening carwash?


I definitely get what your saying, and I have lost some serious sleep not that long ago trying to decide on a career path. I actually had THIS other thread not too long ago when management tapped me on the shoulder to join them. In short, I'd love to advance more and get challenged, and I'd say there's a good chance I'll revisit the idea of management at some point. Good point though, thank you for bringing it up. And no I wouldn't choose the car wash over those perks


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## gibor365 (Apr 1, 2011)

STech said:


> So far, this thread is making me consider the non registered investing the most.





> My RRSPs is a little short of 200k,...... I have a DB pension at work, and yeah I worry my retirement income will make me regret having too much in RRSPs.


Why do you need non-reg investments if you still have RRSP room? In order not to regret, you may invest into Spousal RRSP and/or retire earlier and switch RRSP to RRIF and delay DB.
Also to keep yourself "busy" , you may start moving cash between online banks hunting for promos and higher rates (as many on CMF do)


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## Mortgage u/w (Feb 6, 2014)

I can relate to you. I am in a very similar position both financially and career-wise and constantly wonder what more can I do. So a few years ago, I did go ahead and purchased a rental property and also started a side business, on top of holding a management career. Its tough at times - but only because it can take time away from the family. My mind is currently on owning something big - like a manufacturing/industrial company. Its tough because I have no 'ins' and the cost vs risk is huge. Am I really ready to risk my life savings and career? Obviously not.

So my point in all this is that we constantly want more. Bigger home, bigger car, bigger career, bigger wallet. The real problem is simply to stay motivated in life. It has nothing to do with money, but we seem to make it the solution to all problems. 

I think you should pursue a career move if you think that will spark your motivation again. I also think you should put more emphasis on your family. Spend more time together, take on a family hobby. You will realize that money is not a problem at all.

Good luck to you and thanks for sharing!


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## lonewolf :) (Sep 13, 2016)

STech said:


> Please indulge me, and if possible offer some advice since I'm sure others have been in my shoes.
> 
> Up until recently, I had a financial goal to aim for, which felt good and was motivating. Now, the house is long paid for, TFSA is maxed, RRSP is six figures. It has room, but it doesn't make sense to max out. My daughter's RESP isn't maxed, but it's got 25K and she's only 5, so the pace is good.
> 
> ...


 Maybe consider buying defured Swiss Annuities none varriable through Swiss insurance company for cash flow to live of off in future in case something happens to Canadian dollar Maybe split between Aussi, New Zealand, US, Hong Kong dollars plus maybe buy some gold & silver from gold money store differnt locations around world then if something happens to currencies of the world & the safest financial institutions of the world you can buy investments that create cash flow with gold & silver good to have a bag of junk silver coins nickle dimes quarters


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## STech (Jun 7, 2016)

Mortgage u/w said:


> My mind is currently on owning something big - like a manufacturing/industrial company. Its tough because I have no 'ins' and the cost vs risk is huge.


Well that's certainly ambitious. It can either break you, or allow your grand kids to live comfortably. Definitely not for the faint of heart. 




> So my point in all this is that we constantly want more. Bigger home, bigger car, bigger career, bigger wallet. The real problem is simply to stay motivated in life. It has nothing to do with money, but we seem to make it the solution to all problems.


This the funny thing, and even my wife has asked this many times. Money in the sense of a dollar figure, was never a motivation for me, and neither were assets or possessions. We have an average size house, on a very large country property and fantastic location. We have absolutely no plans for a bigger house. We'll do some minor upgrades and upkeep over the years, but even if we win the lottery, we'll probably stay here. And I'll forever be happy driving a decent but very typical pickup truck, and my wife doesn't want anything more than your typical cross over stuff everyone else drives. Career wise, my wife is very happy where she is, but I'm always looking for the next step, but it's not entirely motivated by the money. I really couldn't pin point what is my ultimate driving force. But you're right though, we all think money will solve all of our problems, and it's very likely not true. Currently, I'd love to cut work back to 3 days a week, volunteer for 1 day, and do my hobbies and family time the other 3 days. I wish I had the dividend income to accomplish that, but I don't. Will it be possible in another 10 years?



> Good luck to you and thanks for sharing!


Thanks, and all the best to you as well. Stay motivated.


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## STech (Jun 7, 2016)

lonewolf :) said:


> Maybe consider buying defured Swiss Annuities none varriable through Swiss insurance company for cash flow to live of off in future in case something happens to Canadian dollar Maybe split between Aussi, New Zealand, US, Hong Kong dollars plus maybe buy some gold & silver from gold money store differnt locations around world then if something happens to currencies of the world & the safest financial institutions of the world you can buy investments that create cash flow with gold & silver good to have a bag of junk silver coins nickle dimes quarters


I have no idea what you're talking about. Can I just send you all my money and you make me rich :eagerness:


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## janus10 (Nov 7, 2013)

I would max those RRSPS for the next 10+ years because you should be thinking of early retirement. Thus, your RRSP can bridge your expenses from ER to that first DBP payout.

If you still have money after maxing everything then you should start a non registered account. No physical labor required, will probably incent you to learn more advanced methods of investing, and may provide the additional discretionary income that makes for a very enjoyable retirement.

I was about five years older than you are now when a simple conversation with a co-worker changed my thinking. I went from a drone who maxed every year (no TFSAs back then) to someone who took a more active role in accelerating our path to FI.

I started with an idea, a glorious exciting idea, to retire at 60. Several years in I started to think it just might be possible to hit Freedom 55.

I had some missteps and then it was back to 60. Then, some good years and 55 was back on.

But, lo and behold, thanks to my non registered account investing/trading, I pulled the plug at 52. And I don't have any pension.

I think you seem to be, on the limited info, well set up to achieve FI by 50. What you do then is all up to you.


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## STech (Jun 7, 2016)

Thanks Janus. Do you have any suggestions where to start learning, about more advanced investing? And congrats on freedom 52, that's a nice achievement.


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## gardner (Feb 13, 2014)

STech said:


> any suggestions where to start learning, about more advanced investing?


Don't need to go far...

http://canadianmoneyforum.com/showt...-with-Weight-A-Reading-List-for-New-Investors


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## STech (Jun 7, 2016)

gardner said:


> Don't need to go far...
> 
> http://canadianmoneyforum.com/showt...-with-Weight-A-Reading-List-for-New-Investors



Thank you.


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## janus10 (Nov 7, 2013)

STech said:


> Thanks Janus. Do you have any suggestions where to start learning, about more advanced investing? And congrats on freedom 52, that's a nice achievement.


I'd say continue to frequent various forums and look for something that appeals to you. For example, on Redflagdeals, there is this: https://forums.redflagdeals.com/trading-idea-based-graham-tsx-1682065/ (please note that I don't know this person nor have I bothered to look at his premise). I've seen TA used very successfully to trade commodities like oil. Personally, I now use VIX strategies to boost my returns. 

There are many methodologies out there and it seems reasonable to me that the small percentage of people who can consistently achieve > 10% annual returns are doing so by not using conventional strategies.


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## Plugging Along (Jan 3, 2011)

Late to jump in, but one way to help you stay motivated is to really unstable what is important to you in life. Not the money, but rather why or what you are working for. So far you were motivated because of numbers, max RRSP, TSFA, amount in RESP, % saved, buy real estate etc. These are great measures to see HOW you doing, but don't always keep one motivated once they have perceived as 'made it' which based on numbers.

I am a few years older and at 38 we were in similar financial situation, essentially doing well so I understand your position. I have never had a problem with motivation though because what I was working for we not numbers but rather thinks I feel are important to me. That is family, my kids, experience in both my non retired and future retired life, financial security. Based on my values, I work and put money for those things, I actually do not let the government limits be my only measure of success, in fact the government limits are minumiman I try to achieved.

RESPs we put the max each to get the grant, then we have been topping off the additional $14k to get the full max, AND we have opened an IN trust account for each child where we put in a little extra. I have been using their in trust accounts to teach them more about saving, interest, vs investing. 

RRSP we aim to max them, even though I also have a DB pension too. The reason is that if we decide to retire earlier than when I make my 85 points, then I can bridge it. If I end up paying more in tax because I make that much, I won't complain. I would rather have the choice though. I am thinking I may plan a sabbatical a few years before retirement (my current work offers that) and test it out. If you have extra money, max out your rrsp.

TFSA. We just put in the max money each year. It's actually reminded to me why I am lousy at investing on my own. 

Before you jump into real estate, or a small business just make sure it's aligned with your goals. If you want more time with the family, a small business may not be the way to go.


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## STech (Jun 7, 2016)

Thanks Janus and Plugging Along for the input.

I think this thread has convinced me so sit down, look at all the numbers again. I'm very likely going to open a registered account, and try it out for a period of time. I sure have A TONNE of learning ahead, and hopefully you guys can help me navigate the waters.


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## STech (Jun 7, 2016)

gardner said:


> Don't need to go far...
> 
> http://canadianmoneyforum.com/showt...-with-Weight-A-Reading-List-for-New-Investors



I bought a copy of Four Pillars of Investing audio book, I'm half way through it, and it's very good. Sure made the long commute more enjoyable and productive. And like the cliche goes, it's amazing how much I know now, about what I don't know.

Any other recommendations from that list for an audio book? Or really any other audio book that's worth while? I'd like to use them as primer to shift my thinking and start my education deeper into personal finance.

Thank you


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## STech (Jun 7, 2016)

Thanks to audiobooks, I've finally managed to get through some of this material. The four pillars of investing and One up wall street I've been meaning to read for years, and now I finally can cross them off my list.

- The four pillars of investing is an excellent book in my opinion. Well worth the time, and I'd read it again at some point.
- One up wall street was another good book. It was worth the time, and it did re-affirm my fondness for Index funds over picking individual stocks.
- I'm working my way through the Intelligent Investor. It's pretty thick and dense, but a timeless classic. It's a bit long due to very American specific investment vehicles, but still worth the time to get through.

One suggestion I could make, to any newer investor on another good book, is "The Little Book of Common Sense Investing" by John Bogle. I'm not done it yet, but it's obviously going to heavily favor Index fund investing.


Thanks to this thread, and that list of books, my motivation for investing has been renewed, and it's certainly where I'm going to focus my energy over the next while. I've done MUCH better with long term investments, than any of my speculations have ever paid off.

If anyone has anymore book suggestions (better yet audiobooks version), then please post up.



Cheers


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