What is the best financial move you’ve ever made?

17 comments

1. If it floats, flys or fucks… it’s cheaper to rent.

2. Saving for rainy days.

3. Buying a house right before the pandemic exploded the market.

   Wouldn’t be able to afford any place in this town today.

4. Staying single. Girlfriends are expensive.

5. Going to a bunk school (to keep it super brief), apparently.

   The Dept. of Education was sued, and after years of litigation all my student loans were forgiven AND I got refunded everything I ever paid in.

   I paid off all my debt last month with plenty left over. The money that’s been freed up monthly has been life changing.

6. Doing a bit of research everyday. Found some decent junior miners in the past that got me 300% returns, found dividend stocks that were just ramping up cashflow, expanded my knowledge on how the mkdern finance world works and why so many of it do not work, how to make a proper budget and so on.

   None of these things were learnt in a single afternoon watching an influencer with rich parents selling finance courses. I listened to “crash prophets” and researched which parts of there theories were accurate and which were not. I read bools and articles about wealth cycles and what performs best at specific times in the economic cycle. I learnt how to buy bullion with as low of a premium and lowest taxes possible. Just here a bit, next week there a bit until I got enough pieces together to realize what I was trying to accomplish – building some passive income streams.

7. Twitter stock used to be fairly predictable in a wave pattern. Up…then down…then up…then down, with a general upward trend over time. So I started buying when it was down, selling when it was up. So fucking easy. No stress about selling the peak perfectly, or buying the dip perfectly, close enough was close enough. Truly a wonderful thing.

8. I was born into a well-off household, fantastic move. I went to school and networked with other people that have money.

9. I lost it all when I got married.

10. When I was just starting out, I made a pointed effort to save some of my income and put it in some sort of investment, however small, that was relatively hard for me to access for withdrawal. Then I forced myself to live on what was left. If money was tight, I would try and figure out how to hustle and make some more, but I didn’t touch my “reserves”, unless it was to move it or put it in something of value.

    So when it came time to buy a house, I actually had a 20% down payment that let me avoid having to buy mortgage insurance. Continuing to save throughout my career has brought to me where I’m now 50 years old and have a net worth of $1 million. I’m actually going to be able to retire in a few years.

11. Always paying my bills on time and never putting too much money on my credit cards. My credit rating is awesome.

12. Finish medical school and residency.

13. Got divorced. Why are divorces so expensive? Because they’re worth it.

14. 1. After my dad passed I had an inheritance, I was too young to claim it, but my brother, mom and I decided to split on a house, my brother would cover my cost until I turned 18. Since purchasing the price has nearly tripled (athough we dont plan on selling any time soon).

    2. Leaving a crappy mutual fund, in Canada we have access to a tax free savings account, basically anything invested in it wont be taxed as capital gainc each year you can add more money in (generally 5-6k a year once you turn 18). I had it invested through a partner at my credit union, I didnt do much research and was getting shafted by fees (around 2% MER) eventually I did some research online, decided to transfer everything out and simplify my life by investing in a single ETF, my only fee is 0.2%, I did the transfer about 2 months ago and am up 6.5%

15. There was an exec role at a really young company that I was interested in working for. They wanted me but could only pay me about half to a third of what I was offered elsewhere. I used it to negotiate some very favorable equity terms.

16. Make bigger payments on my home loan than what was mandatory.
    Now my morguage is a joke. You cant even rent a room for what i pay a month.

    Also. If you look at the intrest cost in the next xx years, how much i wont spend. Its huge..

17. I’ll get back to you on that.