Welcome to Vigilant Trader, I’m 28 years old and live in Canada. My beautiful wife and I have plenty of pets to keep us happy in our modest home. I have no formal training in finance or investing, anything I’ve learned has been self taught or learned from mentors. I’m very grateful to have mentors so I hope this blog may help guide beginners to personal finance and investing. Before taking any actions with your own accounts it’s always wise to consult a professional. Finding the right financial planner can take some time and patience but if you find a good one willing to work the way you want to, it’s worth it. I do all my own self-directed investing in the accounts that permit it but that doesn’t mean I don’t ask for help when the time comes from my financial advisor at the local bank.
Below I share my own personal finance and investing goals. Studies show that goals are more likely to be achieved if you write them down or in this case, type them out:
1. Pay off HELOC by 2022.
2. Achieve a portfolio worth $1 500 000 by age 50. This is what I need to sustain the lifestyle I want at age 50 until we pass.
3. My goal as a trader is to become an accredited investor in Canada at some point in my life. This means having $1000000 in liquid assets. This status opens the doors to other investments that I can’t currently access.
Our Current Savings Plan
Currently we are delegating 10.17% to investments and 5.33% to debt repayment on our HELOC that is new because of a recent real estate investment.
We still pay ourselves first, I’m sure many of you have heard of this age old strategy and thats because it works. It’s the idea of taking your savings contribution from your pay check before paying everyone else. Our emergency fund is fine in cash and a portion of income goes into our investing account where it is invested in stocks, fixed income and mutual funds. This transfer happens automatically so we don’t even notice although I still pay close attention.
Once that money is in our investing account, that’s where the real work is done, researching current events, following companies and making trades. I’ve been investing since I first started making money, mostly in GIC’s and mutual funds but only started to experiment in the stock market in 2015. I fell in love instantly after I made 10% on my first trade. This small win made me feel amazing and I’ve been trading ever since.
After a few mistakes and successes I’ve learned some lessons to get my portfolio to the point it’s at now. I know that we aren’t going to get rich overnight with our contributions but do I ever love the process. I spend my spare time looking into CEO’s, reading over financial statements and my favourite is technical analysis. My readers will be kept up to date on my portfolio and progress. Hopefully you can learn something from me and I can learn something from you.
Disclaimer: All thoughts on this website are just opinion. I am not a professional, please consult a financial advisor or investment advisor before making any financial decisions.