Posts tagged ‘retirement’

August 4, 2011

3 Bucks For Retirement

It’s one latte or 0.000005% of my retirement savings.

Today, doing some casual work I was able to earn $30 cold hard Canadian cash. I know that’s probably what you spent on lunch today but such is my life, for today, and I accept that. Yesterday I made a commitment to you all that I would begin to “pay myself first” by taking ten percent off the top off all of my earnings for savings. In my example, I used $50 with my savings being $5.  The universe decided to see how serious I was with my commitment today by starting me off with an even smaller example. Ah universe, always a card.

It’s Party Time

I am here to say that my whopping $3 has been transferred to the ashtray in my car (Do new cars even have ashtrays?) to ensure that it is not spent inadvertently. I was kind of hoping for balloons and confetti and party hats in my head when I started my savings plan, but I guess that’s always been part of the problem. I shouldn’t need a pat on the back and a great job to take care of myself like a mature adult.

So, the $3 is gone. Out of site out of mind. So as to avoid looks of confusion and perhaps endless giggling, I will wait until I have saved up at least $100 before I open some sort of savings or investment account.

One baby step, one less latte, one day at a time. I can do this.

Peace,

Leslie

August 1, 2011

Show Me Your ASS(ets)

Caution, Roadwork Ahead

Lately there has been real focus on my Health bucket, with good reason. The saying “if you don’t have your health you don’t have anything” is a pretty accurate one. If I don’t have my health I am no good to anyone. For the first time in my life I feel like I am truly heading down the right path in this area, physically, mentally and spiritually. I know I have a long way to go, but I am ok with that. I am enjoying the journey.

Looking at the MEbucket’s today, there was a flashing beacon around one bucket in particular – finances.  Action in this bucket has been sparse, for good reason. It’s hard to work on finances when you don’t have any. Being off of work has produced a very black and white approach to money for the short term. Money comes in, money goes out – period. That said, I have taken some steps to shore up my foundation. My spending habits and my expectations on what I need to be able to live happily have both contributed to growth here.

Does This Foundation Make Me Look Dumb?

I will use the analogy of a house. If my life is a house, and I have been refurbishing from the inside out, my financial foundation has been decrepit for years. Initially, when I started to refurbish, cash flow was non-existent so instead of bringing in an expert to professionally repair my foundation, I just patched it up as best as I could myself.

Now is the time to bring in the experts. Like many other areas of my life, circumstance and poor execution have inhibited my success. I believe that I have a very solid understanding of how finances work and what I need to do improve my results in this bucket. I have done this with great success professionally, but not personally. Like other areas then, I need to ask for help and be willing to try new things, as well as add a level of accountability that I have not had in the past.

Here Ye Here Ye!

To that end, I am a man on a mission. I am on a mission to find new best practices and to find out what works for others.  If you know me, expect an awkward phone call when I probe into your financial practices. If you don’t know me I will be the one who stops you on the sidewalk to ask if you are ready for your retirement.

I would love you to email me your thoughts. You can also comment right here on MEfurbish. What’s your favourite book? Who is your most trusted financial adviser? What golden nugget are you willing to share? Expect to see more on this topic in the weeks ahead on MEfurbish.

Peace,

Leslie