I bought my cottage 4 years ago, shortly after meeting my future husband. I was at a point in my career where I was burning out and afraid to take vacations. How crazy is that? Nonetheless, I was one of those people. Eventually my actions began to have a negative impact on my mental, emotional and physical health. I stopped working out. I ate more convenience and expensive restaurant foods as a treat for working so hard. I started dreading going to work. Not a pretty place to be in.
One of my life and retirement dreams was to live by water, a beach. After meeting my future parents in law one weekend (who live lakeside), the old buried idea sprung right out in my face. After a couple of months searching and viewing I found it. It was the very last property. The timing wasn't ideal in that I would have preferred to be mortgage free but I was driven by something deeper. It was a yearning back to nature, more often than the occasional invite up north. It was going to be a lifestyle and it was sized and priced proportional to how much it was going to be used.
I view money as a form of energy. When I spend, it needs to make sense within the whole picture of my life. The cottage cost about half of my home at the time. I didn't want it to be the end all and be all of my life because I have many other facets I wish to explore and develop. Why it is a luxury to me is because I can to use it when I want to without having to make a reservation . If I don't feel like going, no problem, no guilt. It is a true cottage, built 64 years ago, very small and cosy. It allows me to live differently and by doing so, helps ground me and makes finding peace and joy really easy.
Friday, November 14, 2008
Thursday, November 13, 2008
How I Managed a Career Threatening Injury
About 3 years ago, I had gotten to a place in my life where I felt I was ready to take on more "risk". For 7 years I plunged headfirst into my career (which can be quite physically demanding) and put some ambitions aside. One morning I decided I had enough of that and subsequently went searching for something to learn. I decided upon figure skating. I love watching it, especially ice dancing and I wanted to give it a go.
The first year I skated, I did really well considering I had never learned to skate before and only suffered 1 fall. That one fall resulted in a few fractured ribs. It certainly wasn't easy to do my job. I had never experienced such pain in my life but I persevered and remember only one really bad day. I didn't miss any work nor any skating classes.
The year after, I went back for another season of learning and excelled. I decided to push myself further and move my skating to the outdoors. I was told that my figure skates (the blade) would be ruined if I used them outside so to purchase a pair of recreational skates instead. Being a neophyte in such matters, I purchase the best pair I could find and took them out. Needless to say, I had a huge surprise. I didn't realize how much of a difference they would feel and how much of a difference a shorter and more curved blade would make. My balance was off and I fell just after I thought I was doing well! I broke my wrist in 3 places.
Fast forward 4 months and 4 casts later, I was finally giving a clean bill of health and a script to start rehab to start a month after (due to the nature of the healing process of the small bones of the hand). Being that I am who I am, I had long started rehab while I was still casted. Having studied piano for 11 years and taught for 7 1/2, I had a good idea what my hands and wrists were supposed to be capable of. By the time I was assessed by a physiotherapist, she told me that she would not have known I had broken my wrist if she hadn't read it on the intake form. I felt pretty proud of myself.
During the time I was in a cast, it was impossible to do my full duties at work. The breaks were on my dominant side and the way the cast was formed, my thumb was completely hidden and the rest of my fingers only showed the tips. Luckily I have a decent sense of humour. I knew that the hours I spent as a kid practicing to be ambidextrous would come in handy someday! And it did. I wrote my notes with my left hand and realized quickly that I could do a lot with my left hand. Other than the first few days off (for shock), once I was comfortable driving, I returned to work part time for the 5 months and entered back full time for the remainder of the year.
As I am self employed, I do not get income if I don't work. Once I realized the potential disability of my injury, I immediately went to work with the calculator. Back 3 years ago, I was living in my condo and it was very very close to being paid for. I also owned a recreational property that could be sold if need be. If I were to have cashed in all of my investments and savings, I would have 5 years of expenses worth. My disability plan was not useful as I was going to recover before the requisite wait period. Because I work 3 days a week, it would take many, many weeks until I would reach my 90 working days minimum. So I figured that I would be fine in the short term and long term because I was able to work 2 days a weeks and by doing so, cover my portion of household and life expenses.
Ironically, this injury didn't have near the pain associated with it compared to the rib fractures from the year before. It allowed me to test the foundation of my security. Honestly, I enjoyed having the time off and that is where my goal of going back to 2 days a week comes from. I felt I weathered the challenge well. The following year I got back on the ice and I look forward to this season.
The first year I skated, I did really well considering I had never learned to skate before and only suffered 1 fall. That one fall resulted in a few fractured ribs. It certainly wasn't easy to do my job. I had never experienced such pain in my life but I persevered and remember only one really bad day. I didn't miss any work nor any skating classes.
The year after, I went back for another season of learning and excelled. I decided to push myself further and move my skating to the outdoors. I was told that my figure skates (the blade) would be ruined if I used them outside so to purchase a pair of recreational skates instead. Being a neophyte in such matters, I purchase the best pair I could find and took them out. Needless to say, I had a huge surprise. I didn't realize how much of a difference they would feel and how much of a difference a shorter and more curved blade would make. My balance was off and I fell just after I thought I was doing well! I broke my wrist in 3 places.
Fast forward 4 months and 4 casts later, I was finally giving a clean bill of health and a script to start rehab to start a month after (due to the nature of the healing process of the small bones of the hand). Being that I am who I am, I had long started rehab while I was still casted. Having studied piano for 11 years and taught for 7 1/2, I had a good idea what my hands and wrists were supposed to be capable of. By the time I was assessed by a physiotherapist, she told me that she would not have known I had broken my wrist if she hadn't read it on the intake form. I felt pretty proud of myself.
During the time I was in a cast, it was impossible to do my full duties at work. The breaks were on my dominant side and the way the cast was formed, my thumb was completely hidden and the rest of my fingers only showed the tips. Luckily I have a decent sense of humour. I knew that the hours I spent as a kid practicing to be ambidextrous would come in handy someday! And it did. I wrote my notes with my left hand and realized quickly that I could do a lot with my left hand. Other than the first few days off (for shock), once I was comfortable driving, I returned to work part time for the 5 months and entered back full time for the remainder of the year.
As I am self employed, I do not get income if I don't work. Once I realized the potential disability of my injury, I immediately went to work with the calculator. Back 3 years ago, I was living in my condo and it was very very close to being paid for. I also owned a recreational property that could be sold if need be. If I were to have cashed in all of my investments and savings, I would have 5 years of expenses worth. My disability plan was not useful as I was going to recover before the requisite wait period. Because I work 3 days a week, it would take many, many weeks until I would reach my 90 working days minimum. So I figured that I would be fine in the short term and long term because I was able to work 2 days a weeks and by doing so, cover my portion of household and life expenses.
Ironically, this injury didn't have near the pain associated with it compared to the rib fractures from the year before. It allowed me to test the foundation of my security. Honestly, I enjoyed having the time off and that is where my goal of going back to 2 days a week comes from. I felt I weathered the challenge well. The following year I got back on the ice and I look forward to this season.
Wednesday, November 12, 2008
Artist's Date
I recently finished "The Artist's Way" by Julia Cameron. Personally I found it to be phenomenally inspiring. If you are looking to recapture your creativity again, I would recommend you give this book a look.
One of the many "to do" action items include an artist date. Once a week you do something fun, for a couple of hours by yourself as inspiration and on a broader note, as an integration into weekly life. Until I read the "assignment", it hadn't occurred to me that I had designated activities like this for vacation time. Why not part of everyday living?! It made so much sense that I had to laugh out loud.
I just came home from my 3rd artist date. Today's was an art exhibit of impressionist-like paintings of rural landscape done in oils--just beautiful. Not only do I come back with fireworks going off in my head because I am so inspired but it motivates me to pick up a brush and do something just for the sake of it.
One of the many "to do" action items include an artist date. Once a week you do something fun, for a couple of hours by yourself as inspiration and on a broader note, as an integration into weekly life. Until I read the "assignment", it hadn't occurred to me that I had designated activities like this for vacation time. Why not part of everyday living?! It made so much sense that I had to laugh out loud.
I just came home from my 3rd artist date. Today's was an art exhibit of impressionist-like paintings of rural landscape done in oils--just beautiful. Not only do I come back with fireworks going off in my head because I am so inspired but it motivates me to pick up a brush and do something just for the sake of it.
Tuesday, November 11, 2008
Letting Go
It's amazing how much "stuff" we carry along with us.
I'm talking about mental/emotional/physical/hidden stuff. Stuff relating to past and present experiences. The not so nice experiences are what needs to be identified and expelled or else all this unseen "weight" can show up as disease, weariness, lack of direction or zest for life.
Who needs this when I and most people I know are already too busy juggling everything else?
When I feel emotionally "heavy", it is sign that I've absorbed a bit too much. Instead of eating (substitute any other habit) to sooth myself, I frequently just take deep breaths, drink some water, lie down and work on identifying where the heaviness is.
Once it is located, I try to identify the quality of it and gently tell myself to let it go. Allow it to evaporate into space. People who have the ability to empathize deeply with others will know how easily it can be to absorb other peoples' energies while merely "just talking".
Our bodies can then respond by isolating such foreign energy into a "holding cell". I make it a point of actively searching for such foreign cells as they are not my "stuff" in order to let it go. This has become part of what I do to keep myself healthy.
As a health care practitioner, I can be around a number a people a day who are in pain. People who are in a stressful state commonly give off an aggressive energy (knowingly or unknowingly)as they are desperately seeking a solution.
Over the years I've had to learn how to protect myself from harbouring such energies so that I can continue to be effective in my role. Once I've done my best purging the more superficial layers, I then delve deeper into my own past. That's where the "fun" stuff lies.
I do this work because I believe (for better or for worse) that unless I do so, I cannot truly live a "free" and present life whereby I am my own master artist.
I'm talking about mental/emotional/physical/hidden stuff. Stuff relating to past and present experiences. The not so nice experiences are what needs to be identified and expelled or else all this unseen "weight" can show up as disease, weariness, lack of direction or zest for life.
Who needs this when I and most people I know are already too busy juggling everything else?
When I feel emotionally "heavy", it is sign that I've absorbed a bit too much. Instead of eating (substitute any other habit) to sooth myself, I frequently just take deep breaths, drink some water, lie down and work on identifying where the heaviness is.
Once it is located, I try to identify the quality of it and gently tell myself to let it go. Allow it to evaporate into space. People who have the ability to empathize deeply with others will know how easily it can be to absorb other peoples' energies while merely "just talking".
Our bodies can then respond by isolating such foreign energy into a "holding cell". I make it a point of actively searching for such foreign cells as they are not my "stuff" in order to let it go. This has become part of what I do to keep myself healthy.
As a health care practitioner, I can be around a number a people a day who are in pain. People who are in a stressful state commonly give off an aggressive energy (knowingly or unknowingly)as they are desperately seeking a solution.
Over the years I've had to learn how to protect myself from harbouring such energies so that I can continue to be effective in my role. Once I've done my best purging the more superficial layers, I then delve deeper into my own past. That's where the "fun" stuff lies.
I do this work because I believe (for better or for worse) that unless I do so, I cannot truly live a "free" and present life whereby I am my own master artist.
Monday, November 10, 2008
Remembrance Day
I have been following this series of published letters of a soldier and his sweetheart during world war II with interest and sadness.
http://www.theglobeandmail.com/servlet/story/RTGAM.20081018.WBwbdearsweetheart101520081018003005/WBStory/WBwbdearsweetheart1015/
I highly recommend it. The letters speak for themselves.
I am able to live my life the way I want because others before me have sacrificed theirs to fight for freedom.
Remember to take some silent time tomorrow to honour those who have fallen and those who are still fighting.
http://www.theglobeandmail.com/servlet/story/RTGAM.20081018.WBwbdearsweetheart101520081018003005/WBStory/WBwbdearsweetheart1015/
I highly recommend it. The letters speak for themselves.
I am able to live my life the way I want because others before me have sacrificed theirs to fight for freedom.
Remember to take some silent time tomorrow to honour those who have fallen and those who are still fighting.
Choices
Why do I find having choices most times exhilarating and at other times very difficult?
For me there is a fine line that when crossed my mind starts just going around in circles, where I micromanage my decisions to the point of doom. Something that starts off as fun morph into drudgery. Many a dream has perished this way. I see it as a form of self sabotage but where does it come from?
I didn't have much growing up. I had what I needed--clean clothes, shelter, great food and a tight knit family. I didn't have allowance, summer vacations away or camp. How far I get in life was going to be determined by my own two hands.
My parents were very wise in that they believed in attaining skills. In lieu of an allowance, my brother and I were given opportunities to learn something. Some classes were mandatory ie. swimming and others were up to us to discover. The only stipulation was that it cannot disrupt family time or my parents' work schedules. So I grew up problem solving and multitasking.
As an adult I find it fairly easy to mentally work out multiple solutions to most situations--to the point where I immobilize myself because of so many possibilities. Crazy but true, especially when it comes to decisions that are not work related. I act like I've just been let out of jail and am overwhelmed with freedom possibilities.
Easier said than done, I am slowly realizing that I must start with something--even if that something isn't the "ultimate" scenario for fun. It is still one step further taken than right now. I need to leap away from the mental calculus and algebra and back into the arena of living the life I have painstakingly built for myself.
For me there is a fine line that when crossed my mind starts just going around in circles, where I micromanage my decisions to the point of doom. Something that starts off as fun morph into drudgery. Many a dream has perished this way. I see it as a form of self sabotage but where does it come from?
I didn't have much growing up. I had what I needed--clean clothes, shelter, great food and a tight knit family. I didn't have allowance, summer vacations away or camp. How far I get in life was going to be determined by my own two hands.
My parents were very wise in that they believed in attaining skills. In lieu of an allowance, my brother and I were given opportunities to learn something. Some classes were mandatory ie. swimming and others were up to us to discover. The only stipulation was that it cannot disrupt family time or my parents' work schedules. So I grew up problem solving and multitasking.
As an adult I find it fairly easy to mentally work out multiple solutions to most situations--to the point where I immobilize myself because of so many possibilities. Crazy but true, especially when it comes to decisions that are not work related. I act like I've just been let out of jail and am overwhelmed with freedom possibilities.
Easier said than done, I am slowly realizing that I must start with something--even if that something isn't the "ultimate" scenario for fun. It is still one step further taken than right now. I need to leap away from the mental calculus and algebra and back into the arena of living the life I have painstakingly built for myself.
Sunday, November 9, 2008
Home
It's great to come home even after an absolutely fabulous trip. When I travel, I do my best to immerse myself into the local culture. It is my way of putting on a different pair of shoes for a while and seeing if I can walk in them. By doing so, I bring home new ways of thinking about life.
My life is composed of facets of different cultures and beliefs that make sense to me. Often, day to day life can blur into months and years with occasional punctuation but it is easy to follow the routine. It works and it is familiar.
As I find differences in people and cultures fascinating, I do not assume that my routine is representative of "best" practices. And because I live in a first world country where we are blessed with a myriad of choices, I consider it a duty to do so in a respectful and healthy way.
My life is composed of facets of different cultures and beliefs that make sense to me. Often, day to day life can blur into months and years with occasional punctuation but it is easy to follow the routine. It works and it is familiar.
As I find differences in people and cultures fascinating, I do not assume that my routine is representative of "best" practices. And because I live in a first world country where we are blessed with a myriad of choices, I consider it a duty to do so in a respectful and healthy way.
Friday, October 24, 2008
Nice, France
I'm off to the airport today to catch my Air France flight to Paris then onto Nice.
Just need to finish up some packing--I travel pretty light.
Back in about 2 weeks.
Cheers!
Just need to finish up some packing--I travel pretty light.
Back in about 2 weeks.
Cheers!
Thursday, October 23, 2008
The Dream Account
I recently nicknamed one of my savings accounts "Dream".
Putting a label to an otherwise numbered account allows me to "direct" my intentions. In a previous post, I stated that one of my financial goals in a dampened economy is to increase my cash position.
To my bank's surprise and perhaps dismay, I have opened up 8 new "high interest" (I use these words lightly as what they are paying does not astound me!) accounts and labeled them "Home, Travel, Car, Properties, Dream, Slush, Education and Savings".
Sure, I could have just put all the money into one account but I want to be able to save for more specific reasons and have an easier way to plan for how much I would like to be in each account. For example, in the Home account, I would like to have enough there to pay for a new roof whereas in Education, I would like enough there for 2 tennis lessons a month and ski lessons this January and so on.
The Dream account is my favorite one in that it represents my open intention for the fulfillment of something big/cool/mind blowing/surprise!/insert another wonderful adjective...
In my life I have been presented time and time again with events that surpass my mental limits of "cool".
I constantly create a plethora of ideas and although I think I may be doing a good job with realising them, the universe takes some and reforms them into things that blow my mind and stretch what I believe is possible.
I believe that people "create" their own luck and this is one way I am expressing my desire for all things good.
Putting a label to an otherwise numbered account allows me to "direct" my intentions. In a previous post, I stated that one of my financial goals in a dampened economy is to increase my cash position.
To my bank's surprise and perhaps dismay, I have opened up 8 new "high interest" (I use these words lightly as what they are paying does not astound me!) accounts and labeled them "Home, Travel, Car, Properties, Dream, Slush, Education and Savings".
Sure, I could have just put all the money into one account but I want to be able to save for more specific reasons and have an easier way to plan for how much I would like to be in each account. For example, in the Home account, I would like to have enough there to pay for a new roof whereas in Education, I would like enough there for 2 tennis lessons a month and ski lessons this January and so on.
The Dream account is my favorite one in that it represents my open intention for the fulfillment of something big/cool/mind blowing/surprise!/insert another wonderful adjective...
In my life I have been presented time and time again with events that surpass my mental limits of "cool".
I constantly create a plethora of ideas and although I think I may be doing a good job with realising them, the universe takes some and reforms them into things that blow my mind and stretch what I believe is possible.
I believe that people "create" their own luck and this is one way I am expressing my desire for all things good.
Wednesday, October 22, 2008
Utilities
I would like to think that I do a pretty decent job of conserving resources. My utility payments are made automatically each month out of a checking account. The bills are sent online. We recycle, compost and produce 1/2 bag of garbage a week. Once in a while I am drawn to take a closer look at a utility bill to see if my efforts are bearing fruit. Then I get frustrated.
For example, my most recent hydro and water bill just came in. We used $37.24 worth of electricity from the end of August to end of Sept. (we live in a high summer heat and humidity area so we do use air conditioning) For water, we used $14.50 worth for the month, for a grand total of $51.74. I do not find those numbers over the top.
We've incorporated the changes that most have talked about ie. the low flow shower heads, the new bulbs, shutting lights off in rooms not used etc. etc. Heck, we even buy homes that have a lot of natural light so no lamps are turned on until dark.
It is the "other"charges that make the entire bill add up to $128.77! I am sure that I'm not the first one to rant about this and I realize that I am helping to pay for the infrastructure that brings these services to my home but come on!
For example, my most recent hydro and water bill just came in. We used $37.24 worth of electricity from the end of August to end of Sept. (we live in a high summer heat and humidity area so we do use air conditioning) For water, we used $14.50 worth for the month, for a grand total of $51.74. I do not find those numbers over the top.
We've incorporated the changes that most have talked about ie. the low flow shower heads, the new bulbs, shutting lights off in rooms not used etc. etc. Heck, we even buy homes that have a lot of natural light so no lamps are turned on until dark.
It is the "other"charges that make the entire bill add up to $128.77! I am sure that I'm not the first one to rant about this and I realize that I am helping to pay for the infrastructure that brings these services to my home but come on!
Tuesday, October 21, 2008
Quotes to Live By
I enjoy inspiring quotes. Reading them are a quick way to get back into a healthy mental and emotional zone. Below is a list of various sayings I have jotted down in margins and spaces of my day timer. Sources when known are quoted.
--All progress depends on the unreasonable man. (George Bernard Shaw) The reasonable person tries to adapt to the world whereas the unreasonable man adapts the world to himself.
--Your body has to go a long way, so make sure you take care of it.--Retirement -- It's a time to step forward and engage with the world -- on your own terms.
--When attempting to fight fire with fire, remember that the fire department uses water.
--People take different roads seeking fulfillment and happiness. Just because they're not on your road doesn't mean they've gotten lost. (Dalai Lama)
--Too many people miss the silver lining because they're expecting gold. (Pablo Casals)
--When I'm anxious, it is because I am living in the future. When I'm depressed, it is because I am living in the past.
--Those who do not know how to fight worry die young. (Dale Carnegie)
--With money you can buy a house but not a home.
With money you can buy a clock but not time.
With money you can buy a bed but not sleep.
With money you can buy a book but not knowledge.
With money you can see a doctor but not good health.
With money you can buy a position buy not respect.
With money you can buy blood buy not life.
With money you can buy sex but not love. (Chinese proverb)
--When we are motivated by goals that have deep meaning, by dreams that need completion, by pure love that need expressing, then we truly live life. (Greg Anderson)
--He who says he never needs help most does.
--You know you are rich when you can afford anything you want and you don't want anything.
--Worry does not empty tomorrow of its troubles...it empties today of its strengths. (Mary Engelbreit)
--Speed is irrelevant, if you are traveling in the wrong direction. (Gandhi)
--Worry and Obsession is a form of mental abuse--stop doing that! (Melody Beattie)
--Laziness is nothing more than the habit of resting before you get tired. (Jules Renard)
--Fear less, hope more; Whine less, breathe more; Talk less, say more; Hate less, love more; And all good things are yours. (Swedish Proverb)
Monday, October 20, 2008
Luxuries
The word luxury can give the impression that it must cost a lot or is something only a billionaire can afford to do, buy or experience. Not so.
Here's my list of luxuries as seen and experienced by someone who is kinesthetic and visual.
Here's my list of luxuries as seen and experienced by someone who is kinesthetic and visual.
- a black sky teaming with stars
- silence
- sound of waves crashing
- smell of the woods
- rose windows of Notre Dame
- Bourges Cathedral
- french antiques
- dance
- a Rodin sculpture
- Trevi fountain
- classical paintings
- photo realism
- nature's wonders
- a good meal
- clothes that fit well
- a down comforter
- a good book
- lessons
- a strong cup of tea
- fresh whipped cream
- blue skies
- mountain air
- airports
- European architecture
- ferry rides
What's on your list?
Friday, October 17, 2008
Survival, Comfort, Luxuries
I was reviewing the page out of "Your Money or Your Life" yesterday, that had the fulfilment graph (parabola) to remind myself of some key living values.
There are 3 categories of fulfilment: Survival, Comfort and Luxuries. Once one reaches the level of luxuries, then the "enough" point is reached. Should you surpass the enough point, then the law of diminishing returns drops the fulfilment curve down so that you are not getting the most value from further monies spent or "bang for the buck" if you will.
The reason I needed to remind myself of this graph is because the word "enough" can mean different things to different people. There are plenty of blogs out there where it is obvious that "enough" to the writer means survival--the least amount spent on housing, clothing, everything. There are others who prefer to live less small and enter into mortgage contracts and vehicle purchases and have lifestyles that on the outside look like "most people". The blogs of people who have reached their enough point seem to be already retired. I haven't found any blog yet of people who are living their enough life now while saving for early retirement. That's what I am working on.
I've found it very easy to get caught up and excited about how others live and want to change my direction to incorporate new ideas. It's easy to get carried away. So I find it necessary to come full circle and ground myself with my plan again, albeit affected by new knowledge, to remind myself that my definition of enough includes comfort and luxuries, not just survival.
There are 3 categories of fulfilment: Survival, Comfort and Luxuries. Once one reaches the level of luxuries, then the "enough" point is reached. Should you surpass the enough point, then the law of diminishing returns drops the fulfilment curve down so that you are not getting the most value from further monies spent or "bang for the buck" if you will.
The reason I needed to remind myself of this graph is because the word "enough" can mean different things to different people. There are plenty of blogs out there where it is obvious that "enough" to the writer means survival--the least amount spent on housing, clothing, everything. There are others who prefer to live less small and enter into mortgage contracts and vehicle purchases and have lifestyles that on the outside look like "most people". The blogs of people who have reached their enough point seem to be already retired. I haven't found any blog yet of people who are living their enough life now while saving for early retirement. That's what I am working on.
I've found it very easy to get caught up and excited about how others live and want to change my direction to incorporate new ideas. It's easy to get carried away. So I find it necessary to come full circle and ground myself with my plan again, albeit affected by new knowledge, to remind myself that my definition of enough includes comfort and luxuries, not just survival.
Thursday, October 16, 2008
Handling Emergencies
A number of people I know recently encountered a what I call a "full stop" life event. One family is dealing with a loss of a job (of the breadwinner) within the year. Another couple with a newborn is trying to manage with one parent in the hospital for a serious illness that may lead to a permanent disability.
As I empathize and offer support as best I can, I am also realizing that these event can happen to any of us and it tests the very foundation of our character, security and preparedness.
I am a big believer in learning from other peoples' examples. It is common for me to mentally place myself in the shoes of others and see what reaction I would have.
For the 2 events listed above, here's how I've responded.
Taking out discretionary spending (ie. travel), we would still have about a $2900/year left over, so not too bad. I am in an accelerated mortgage repayment plan. I would have a talk with my banker and get that changed if necessary. I would probably not do this unless the end of the emergency was really far away.
We have about 3 years worth of savings that can be mobilized. Should this happened when there was no mortgage to pay, then it would mean 6 years worth of savings and approximately $9500/year savings post expenses. As long as one of us is still working, there is no risk of losing our home or other properties. I would only consider using a HELOC or other lines of credit in an extreme emergency.
If both of us could not work anymore, that would point to some form of long term disability whereby we would have to calculate additional health expenses and liquidate assets accordingly. We have a small disability coverage.
In my experience in dealing with short and long term disability insurance for other people, I've learned that it may take a bit of time before any money come in. There can be a large amount of paperwork and depending on the health status, the person involved may not be in the condition to handle it properly or in a timely fashion.
This means a power of attorney for health and property is crucial. Also a review of medical and pharmaceutical benefits/coverage is in order.
In another post, I will describe how I handled a health emergency that resulted in me working part time for half a year.
As I empathize and offer support as best I can, I am also realizing that these event can happen to any of us and it tests the very foundation of our character, security and preparedness.
I am a big believer in learning from other peoples' examples. It is common for me to mentally place myself in the shoes of others and see what reaction I would have.
For the 2 events listed above, here's how I've responded.
Taking out discretionary spending (ie. travel), we would still have about a $2900/year left over, so not too bad. I am in an accelerated mortgage repayment plan. I would have a talk with my banker and get that changed if necessary. I would probably not do this unless the end of the emergency was really far away.
We have about 3 years worth of savings that can be mobilized. Should this happened when there was no mortgage to pay, then it would mean 6 years worth of savings and approximately $9500/year savings post expenses. As long as one of us is still working, there is no risk of losing our home or other properties. I would only consider using a HELOC or other lines of credit in an extreme emergency.
If both of us could not work anymore, that would point to some form of long term disability whereby we would have to calculate additional health expenses and liquidate assets accordingly. We have a small disability coverage.
In my experience in dealing with short and long term disability insurance for other people, I've learned that it may take a bit of time before any money come in. There can be a large amount of paperwork and depending on the health status, the person involved may not be in the condition to handle it properly or in a timely fashion.
This means a power of attorney for health and property is crucial. Also a review of medical and pharmaceutical benefits/coverage is in order.
In another post, I will describe how I handled a health emergency that resulted in me working part time for half a year.
Wednesday, October 15, 2008
Recipes
As promised, here a few recipe tips we have recently tried and like for its ease and taste. Let me know if it works as well for you.
Pizza--We started making the crust ourselves from a recipe found in the "Jamie at Home" cookbook by Jamie Oliver. It makes 8 med to large pizzas (depending on how thick you like your crust). I use a pizza pan (one with holes all over) and in 12 minutes, you are done. He suggests using "Tipo 00" flour. It really exists. I found it at an Italian grocery store.
I've found making your own pizza sauce not worth the time and effort so I use good spaghetti sauce and sprinkle rosemary, thyme, oregano, parsley, chili pepper flakes etc on it. I also use good Italian mozzarella and pepperoni.
The dough freezes well, as does the cheese and sauce. We have found that one standard can of sauce is good for 5 pizzas and 2.2 kg of cheese does 10 pizzas.
We package cheese, dough, sauce and pepperoni in freezer bags and pull them out an hour before making. This has replaced our takeout and frozen pizza buys. Price wise we figured out that we are on par with the frozen pizza cost (depends on how much you choose to spend on cheese and pepperoni) but the taste beats it hands down.
Chicken Fingers--Here's a link to a recipe I found online that is really easy and tasty. The only think I've changed about it is that I season the chicken as well with salt and pepper in addition to the flour and breadcrumbs. We use a deep fryer and for us, it takes about 5 minutes.
http://www.helium.com/items/393697-recipes-fried-chicken-fingers
French Fries--We buy potatoes in bags of 10lbs as there are only 2 of us. Invest in a french fry cutter. Ours came from Canadian Tire but we've seen them in kitchen supply stores. Again we use a deep fryer. Contrary to popular belief, food out of a deep fryer (we use vegetable oil) isn't soaked with grease at all. We cook the fries for 8 - 9 minutes at the highest temperature on our fryer and then let it sit for 10 - 15 minutes. Then re-fry for 2 -3 minutes for the final crisp up. Shake up and season with sea salt.
Stuffed Peppers--We just tried this recipe last week. With the fall harvest upon us, we felt this was a great thing to make a big batch of and freeze.
http://www.elise.com/recipes/archives/000039dads_stuffed_bell_peppers.php
Almost forgot dessert!! A simple Brownie recipe can be found on a container of Fry's Cocoa. It makes what I consider to be "regular" brownies vs. the half ton ones you get at coffee shops. We make a batch, free half (or we'd end up eating everything).
Finally, our favorite Butter Tart recipe. We do not make the shell part. We buy a no name 30 pack pre-made, unsweetened tart shells. We eat the buttertarts straight from the freezer.
http://www.joyofbaking.com/ButterTarts.html
Have fun and Enjoy!
Pizza--We started making the crust ourselves from a recipe found in the "Jamie at Home" cookbook by Jamie Oliver. It makes 8 med to large pizzas (depending on how thick you like your crust). I use a pizza pan (one with holes all over) and in 12 minutes, you are done. He suggests using "Tipo 00" flour. It really exists. I found it at an Italian grocery store.
I've found making your own pizza sauce not worth the time and effort so I use good spaghetti sauce and sprinkle rosemary, thyme, oregano, parsley, chili pepper flakes etc on it. I also use good Italian mozzarella and pepperoni.
The dough freezes well, as does the cheese and sauce. We have found that one standard can of sauce is good for 5 pizzas and 2.2 kg of cheese does 10 pizzas.
We package cheese, dough, sauce and pepperoni in freezer bags and pull them out an hour before making. This has replaced our takeout and frozen pizza buys. Price wise we figured out that we are on par with the frozen pizza cost (depends on how much you choose to spend on cheese and pepperoni) but the taste beats it hands down.
Chicken Fingers--Here's a link to a recipe I found online that is really easy and tasty. The only think I've changed about it is that I season the chicken as well with salt and pepper in addition to the flour and breadcrumbs. We use a deep fryer and for us, it takes about 5 minutes.
http://www.helium.com/items/393697-recipes-fried-chicken-fingers
French Fries--We buy potatoes in bags of 10lbs as there are only 2 of us. Invest in a french fry cutter. Ours came from Canadian Tire but we've seen them in kitchen supply stores. Again we use a deep fryer. Contrary to popular belief, food out of a deep fryer (we use vegetable oil) isn't soaked with grease at all. We cook the fries for 8 - 9 minutes at the highest temperature on our fryer and then let it sit for 10 - 15 minutes. Then re-fry for 2 -3 minutes for the final crisp up. Shake up and season with sea salt.
Stuffed Peppers--We just tried this recipe last week. With the fall harvest upon us, we felt this was a great thing to make a big batch of and freeze.
http://www.elise.com/recipes/archives/000039dads_stuffed_bell_peppers.php
Almost forgot dessert!! A simple Brownie recipe can be found on a container of Fry's Cocoa. It makes what I consider to be "regular" brownies vs. the half ton ones you get at coffee shops. We make a batch, free half (or we'd end up eating everything).
Finally, our favorite Butter Tart recipe. We do not make the shell part. We buy a no name 30 pack pre-made, unsweetened tart shells. We eat the buttertarts straight from the freezer.
http://www.joyofbaking.com/ButterTarts.html
Have fun and Enjoy!
Monday, October 13, 2008
What's my Definition of Net Worth?
As I have written before, I don't place a huge importance on the calculation of net worth when talking about real estate holding that you do not plan to be selling. It may look great that your primary residence is worth "x" but unless you plan on realizing that "x" by selling, it is irrelevant to everyday life.
You cannot eat your house. In dire circumstances, housing is one of the most illiquid things you own. It is still interesting to see how much your house is "worth" based on market values and I enjoy that exercise as much as the next person but I don't dwell on it beyond amusement. I dwell more on how much do I really own of it instead.
So, when I was making my plan, I looked at how much money I would need to sustain me for life without having to sell my homes. So if the going number was 1 million, then my way of thinking would mean I need to save 1 million Outside of my real estate holdings.
If I was a landlord, it would be different because I would be relying on either the sale of the rental property or the continued passive income instead of having to save the money "the hard way". Other people money is part of that retirement equation.
I do not use the value of my furniture, cars (they are too old anyways..) etc. in my net worth calculation. Those of you who have sold used things know that you frequently take a beating. If things get really bad, I want to know that there is true liquidity. That means cash. I save at least 50% of what I earn.
You cannot eat your house. In dire circumstances, housing is one of the most illiquid things you own. It is still interesting to see how much your house is "worth" based on market values and I enjoy that exercise as much as the next person but I don't dwell on it beyond amusement. I dwell more on how much do I really own of it instead.
So, when I was making my plan, I looked at how much money I would need to sustain me for life without having to sell my homes. So if the going number was 1 million, then my way of thinking would mean I need to save 1 million Outside of my real estate holdings.
If I was a landlord, it would be different because I would be relying on either the sale of the rental property or the continued passive income instead of having to save the money "the hard way". Other people money is part of that retirement equation.
I do not use the value of my furniture, cars (they are too old anyways..) etc. in my net worth calculation. Those of you who have sold used things know that you frequently take a beating. If things get really bad, I want to know that there is true liquidity. That means cash. I save at least 50% of what I earn.
How I Started. Where I am Now.
My life motto has been to begin with the end in mind. I started doing that when I graduated and was interviewing with various clinics, checking out what my professional and personal life would be like if I moved there. I was willing to go pretty much anywhere for a chance to build a great life. As I am pretty adaptable, I was able to see myself doing well in many places.
It was a matter of choice and vision and how much I was required to adapt that eventually won out. What I was looking for was minimal adaption of who I was, a gut feeling I was home. It took going to the 14th practice (a start up) before I felt it. I committed to the vision of what was to be. My current associate was the only one who asked me to write down a list of what I needed from work and what I needed for life. We would discuss it and decide together if we fit in with each other's lists.
That was 10 years ago. This summer I attended my reunion, got interviewed by the local paper and reconnected with classmates from all over the world. It affected me more than I would have guessed. There were those who changed dramatically physically and attitude wise and those who didn't seem to have changed at all. More importantly, it forced me to stop and assess how far I have come in 10 years. In hindsight, it was a really good thing because my gratitude for my life has skyrocketed.
I cannot say I have been ungrateful. For most of my life I have been plagued by pressure. Pressure to prove myself, pressure to succeed, pressure to go beyond what either side of my family had done, pressure from knowing I had no one to rely on except myself.
My upbringing was very very humble. There was no help with homework because my parents were not very educated. There wasn't even camping. I had enough to each and was neatly dressed. I was the first person from either side to go to university and I had to pay for it myself. Being that I am the first born, there were a myriad of hopes and dreams placed on my shoulders from the start. My family came to Canada to give my brother and I better chances and I never forgot that.
I grew up seeing my father work 7 days a week to enable us to live in a detached house. After many decades of being overworked and detached from family, my parents' relationship fell apart. I have an extreme aversion to being overworked, I feel because of this. So it became my goal to dream up a wonderful balanced life for myself and test it out as soon as I could. I want to be someone who walks their talk especially because I work in a field where I have the ability and opportunity to influence many people.
It was a matter of choice and vision and how much I was required to adapt that eventually won out. What I was looking for was minimal adaption of who I was, a gut feeling I was home. It took going to the 14th practice (a start up) before I felt it. I committed to the vision of what was to be. My current associate was the only one who asked me to write down a list of what I needed from work and what I needed for life. We would discuss it and decide together if we fit in with each other's lists.
That was 10 years ago. This summer I attended my reunion, got interviewed by the local paper and reconnected with classmates from all over the world. It affected me more than I would have guessed. There were those who changed dramatically physically and attitude wise and those who didn't seem to have changed at all. More importantly, it forced me to stop and assess how far I have come in 10 years. In hindsight, it was a really good thing because my gratitude for my life has skyrocketed.
I cannot say I have been ungrateful. For most of my life I have been plagued by pressure. Pressure to prove myself, pressure to succeed, pressure to go beyond what either side of my family had done, pressure from knowing I had no one to rely on except myself.
My upbringing was very very humble. There was no help with homework because my parents were not very educated. There wasn't even camping. I had enough to each and was neatly dressed. I was the first person from either side to go to university and I had to pay for it myself. Being that I am the first born, there were a myriad of hopes and dreams placed on my shoulders from the start. My family came to Canada to give my brother and I better chances and I never forgot that.
I grew up seeing my father work 7 days a week to enable us to live in a detached house. After many decades of being overworked and detached from family, my parents' relationship fell apart. I have an extreme aversion to being overworked, I feel because of this. So it became my goal to dream up a wonderful balanced life for myself and test it out as soon as I could. I want to be someone who walks their talk especially because I work in a field where I have the ability and opportunity to influence many people.
What is the Purpose of this Blog?
The purpose of this blog did not start from the desire to make money. To be honest, I never considered it or thought it was possible. Sometimes I do think I've been living in some hole somewhere! I participated in a blogpoll recently and when the results were revealed, I was the only one who answered that my blog was just for myself (Eric, if you are reading, that was me).
My work doesn't involve html links, adsense or uploading sitemaps. Web 2.0, digg it, technorati etc. I'd never heard of until recently. I am a pen and paper worker who uses a software program that shows me my appointment schedule. That's as sophisticated as it gets. I read my news, check banking, email, buy plane tickets etc. online--What I consider as "regular" stuff. It is pretty easy to get caught up in trying to make my blog accessible, to increase it's reach, get ranked but it can turn into a serious job! I don't need another job!
I built this blog for myself as a form of an online journal where I can see what I am working on pretty much on one page. I also believe that I approach life differently and have built a unique way of living and if someone finds what I have to say as interesting or inspiring, that's cool. It helps me get stuff out of my brain into the visual world. I am an artist at heart and have a need to express myself visually.
My work doesn't involve html links, adsense or uploading sitemaps. Web 2.0, digg it, technorati etc. I'd never heard of until recently. I am a pen and paper worker who uses a software program that shows me my appointment schedule. That's as sophisticated as it gets. I read my news, check banking, email, buy plane tickets etc. online--What I consider as "regular" stuff. It is pretty easy to get caught up in trying to make my blog accessible, to increase it's reach, get ranked but it can turn into a serious job! I don't need another job!
I built this blog for myself as a form of an online journal where I can see what I am working on pretty much on one page. I also believe that I approach life differently and have built a unique way of living and if someone finds what I have to say as interesting or inspiring, that's cool. It helps me get stuff out of my brain into the visual world. I am an artist at heart and have a need to express myself visually.
Saturday, October 11, 2008
Already Retired?
One can argue that I am already living much of what I strive for in "retirement". Creating this blog has been immensely rewarding in that it makes me see on print what I've been seeing in my head. My journal is the place where plans take shape but often I do not go back and read it. I haven't stopped long enough to see the fruits of my labour in a big picture way.
Once my mortgage is paid for and I move to a 2 day work week, then I could be considered "retired" as defined by me! Should I define retirement as the point when I do not need to work for money, then I guess that will likely be closer to 10 years away whereby I will be working 2 days a weeks (4 yrs from now) until then. Not much else would be different.
Once my mortgage is paid for and I move to a 2 day work week, then I could be considered "retired" as defined by me! Should I define retirement as the point when I do not need to work for money, then I guess that will likely be closer to 10 years away whereby I will be working 2 days a weeks (4 yrs from now) until then. Not much else would be different.
Why Buy Real Estate?
There are so many advertisements in the paper about "great buys" right now.
Why I like real estate is it offers an opportunity to live differently. A real estate agent I worked with 5 years ago said that to me and it stuck.
I maintain that I need to be "moved" by a piece of real estate. It has to serve a bigger purpose than just income. I am not interested in being a landlord. Being a landlord is a form of paid work that has never appealed to me.
I want to be able to enjoy each piece of real estate I own so the prospect of someone else "buying" it for me over a period of decades doesn't give me as much satisfaction as something I am paying for that I get to use right now. A place that enhances my life Right Now.
Some days I wish I could be a landlord because it can be great form of passive income. Unfortunately I can only see the parts where one gets called in the evenings and weekends about a leaky toilet.
The point of the life I am striving to create is one where I am gaining freedom. Being called to an emergency or issue isn't freedom to me. I don't necessarily wish to be found on the weekends. No amount of money I could make from rental income could make it so. I guess I could employ a property manager in these cases but it would cut into the profit margin and make it not worth while.
In the end, I've bought properties that enhances my life now. They will be paid for by the time I am 41 years old. They provide the environments that allow me to live differently, be creative, be grateful for such beauty and privacy without breaking the bank.
Why I like real estate is it offers an opportunity to live differently. A real estate agent I worked with 5 years ago said that to me and it stuck.
I maintain that I need to be "moved" by a piece of real estate. It has to serve a bigger purpose than just income. I am not interested in being a landlord. Being a landlord is a form of paid work that has never appealed to me.
I want to be able to enjoy each piece of real estate I own so the prospect of someone else "buying" it for me over a period of decades doesn't give me as much satisfaction as something I am paying for that I get to use right now. A place that enhances my life Right Now.
Some days I wish I could be a landlord because it can be great form of passive income. Unfortunately I can only see the parts where one gets called in the evenings and weekends about a leaky toilet.
The point of the life I am striving to create is one where I am gaining freedom. Being called to an emergency or issue isn't freedom to me. I don't necessarily wish to be found on the weekends. No amount of money I could make from rental income could make it so. I guess I could employ a property manager in these cases but it would cut into the profit margin and make it not worth while.
In the end, I've bought properties that enhances my life now. They will be paid for by the time I am 41 years old. They provide the environments that allow me to live differently, be creative, be grateful for such beauty and privacy without breaking the bank.
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