I hope everyone had a fantastic Christmas Holiday, I know that I am still recovering from all the hyper indulging that I have done these past several days. Looking back it is pretty crazy how fast time has passed. Almost a year has gone by since I cracked the $100K milestone in my net worth and it does not seem as though a full year has elapsed since that point. Needless to say, I am still just as motivated and hungry to reach my goals of early financial independence today as I was a year ago. Only difference between this year and last year is I am entering 2016 with a weak Canadian Dollar, and more bearish market than in 2015.
With the cost of oil being so low and our Canadian dollar so stagnant, it’s pretty evident that Canada is feeling the pains of a suffering economy. My portfolio being mainly consisted of companies from the TSX is also taking a hit. Its times like these I can see why many people are cashing out and taking their money back even at a loss due to their fears that the future will be looking worse before it gets any better. Whether that may or may not be the case, I choose to stay stoic throughout all the fluctuations with our weak dollar, weak oil and changing policies with our new government. Even wanting to keep putting money into a declining market is hard to stomach as well, but I believe that is the attitude one must have if they want to fully reap the benefits of investing, especially while you are young and have time on your side. With all that being said, I definitely couldn’t pass up some opportunities to add more companies to my income producing funds.
For this entry I would like to share with you a quote that I to this day still look back on and use to remind myself to keep focus of whats truly important in life.
“You will find no one willing to share out his money; but to how many does each of us divide up his life! People are frugal in guarding their personal property; but as soon as it comes to squandering time they are most wasteful of the one thing in which it is right to be stingy”