Checking my financial course

| finance

I must be doing something right if my mom’s financial advisor is
impressed by my planning. ;)

We visited Tina at the bank today. After my mom finished a little
business, I took advantage of the free financial advice. I told Tina
about the money I’d earmarked for various expenses, the emergency fund
I’d set up, and the savings I set aside. She was glad to hear that I’m
already thinking about all of these things at 23 years of age.

Tina recommended a split between a diversified balance fund and a
high-risk, high-growth equity fund. Asian equities are doing pretty
well, although the foreign currency hit and the fees for transferring
money probably mean that I should keep Canadian money in Canada for

It’s good to know that I’m on course, and to get an idea of what’s
coming up ahead. I’ll keep money in a liquid high-interest savings
account first because I don’t know how much I’ll need when I
transition into the working world. I will probably want to furnish a
place, update my wardrobe, get used to a new lifestyle, etc. I know
I’ll feel satisfied if I can cover all of my startup costs and restore
my emergency fund without taking stuff out of my investment fund.

When the dust settles, I’ll look into the investment options. My next
milestone would be three to five years out, when I decide whether to
stay in Toronto or move on. I like what my mom did with our place on
Bautista: rent the house until she decided to buy it. It seems like a
good way to get a feel for a place. We’ll see. But I should be able to
diversify into really-long-term (retirement or 10+ years), medium (3-5
years), and liquid assets.

I pay attention to stuff like this because I would hate to waste these
great opportunities through mismanagement. Besides, sorting this out
early takes less effort than dealing with the consequences of bad
planning. =) And it’s fun! I like seeing my books balance. I like
knowing that the basics are taken care of and that there’s some room
to take crazy chances and follow my intuition. I like abundance and

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