I’m trying to make an effort to blog at least once every month, so here is my October blog post.
A 5-year Plan: in my opinion, everyone should have one. Usual topics would include finances, career, family, and livelihood. After graduating, my 5-year plan consisted of:
- getting stable income in a non-committed role (allowing for me to do #3 and #4 in this list)
- focusing on investments and financial growth
- getting my own place (strongly relating to #1 and #2)
- starting my own company
- focusing on family and relationships
My priorities are listed in order above, and just to expand on each:
- I’ve been jumping contract to contract, and resisted starting my own company, to have a stable income and leverage benefits. One thing I would recommend to everyone, is to not be afraid to ask the HR department exactly what benefits you’re entitled to (key word: entitled)
- I’m now making more than 1.05% interest with my savings (specifically my TFSA account), due to research and self-learning. Even though I hate to relate life to money, money is very important, and so it is important to spend time learning about personal finance. It is also important to not take things for granted and to exclude your family wealth from your calculations
- I’ve been researching on geographic areas, renting vs buying, and condo vs house, and have yet to decide, but I’m now in the state to be more flexible in my choice
- My father has been an inspiration to me in terms of being my own boss due to his experience, example, and follow through in incorporation. I focused on getting income before exploring this option. With point #1, I have been able to do freelance work on the side and establish a set of skills that I could leverage when I do decide to pursue self-employment
- Simply put, the dream of every parent is to live to hug, love, and spoil their grand-child/grand-children
I’m now in the early stages of point #3, after completing most of #1 and #2.
Backing Up Your Data: to students – it is now roughly the middle of the Fall semester. To avoid pain and distress over your computers suddenly crashing or dying, I’d recommend you all sync your school documents to either Dropbox, or Spideroak for the security-conscious (both offer 2GB of free space initially).
Live a Frugal Life: always hunt for good deals and spend money where it makes sense. I personally think a paradox exists: celebrities wish to live an ordinary life where they’re not fawned over, or scrutinized over every statement and/or action, and ordinary people usually wish to live a celebrity’s life. No matter what, I would choose obscurity (but still making contributions to my local community and society), as I would want to be free to live life the way I want to.
Be Thankful: be thankful for what you have, and what you don’t have. With today’s potential Ebola epidemic, ISIS menace, in addition to the various geopolitical conflicts (e.g. Ukraine/Russia, North/South Korea, Israel/Palestine), it is not far-fetched to imagine that we are getting a glimpse of what the end of the world would look like. In light of all this, we must not be discouraged, and we must look within ourselves and understand that each of us do have a large impact on the world, specifically with our families, friends, and local communities. Think globally, but act locally.