Dividend Digger

Compound interest is the eighth wonder of the world. He who understands it, earns it . He who doesn't, pays it.

About Me

Hello and welcome to my blog.

My name is Ace and I am 23 years old and living in Alberta, Canada.  Since you are here I would assume it is because you are interested in dividend growth investing to pursue a greater wealth, and possibly financial independence.  First I would like to applaud you for taking an interest in your finances as well as finding a way to enhance your life with less. Not a day goes by where I wish I started earlier, but nevertheless its better late than never.

To start I am a first generation Canadian. Although my parent did not have much they immigrated to Canada from Korea in their 20′s in pursuit of a better life. I was born in Edmonton Alberta and for the first couple years we lived in a small apartment in the city where my mom worked in a small restaurant serving and preparing food, and my father worked for my aunt who happened to own a vegetable farm. During those years in the my parents managed to save enough money to buy a small grocery store in a village called Edgerton.

Other than living with my grandmother from the time I was born to the time I graduated high school my life was not a whole lot different than any of my peers growing up. There was one thing I did notice and it was that my parents never went on a vacation. I can only recall on one occasion where my parent actually closed the doors in their grocery store on a non-statutory day to go for a holiday with the family. Nevertheless I had a pretty good exposure to some solid work ethics growing up. Regardless I feel as though I didn’t quite catch on until just recently. As all my teachers in high school would say to my mom and dad, “Ace, well he has a lot of potential”

Fast  forward to when I was 17 I really did not have any drive or particular interest in my future, in fact I had no direction what so ever! My mother on the other hand made it very clear to me everyday that year I needed to figure out what I was going to do with my life. I’ll be honest, I don’t think I’ll ever know what I want to do for the rest of my life. However, even though I resented my mom at the time for always being on my “case” I am so grateful she put up with my negative attitude and pushed me to go into something I didn’t even want to do in the first place. (so if any of you reading this are going through anything similar please remember your parents have your best interests at heart) What my mom had me enroll in was a program delivered at a technical school where I would learn about the technology behind lab and x-ray equipment. Fortunately for me I managed to graduate high school early at 17 and with the helping push from my parents I didn’t waste anytime going start to post secondary after graduation.

After I finished my program(it was only a 2 year program) I got an early start to a great career. I was 19 when I landed my first job in rural Saskatchewan with the intent to stay no longer than 3 years. Life seemed to be great, I was finally on my own, loved my job, getting plenty of work, and making lots of new friends. However it didn’t take long before I started to live above my means. In fact, I made terrible financial decisions. It was June 2010 when I started working and making an income, and looking back that was the time I should have started investing and saving. I was so dense that I even had my bank call me on several occasions telling me that I shouldn’t keep all my money in a checking account. But did i listen? Nope. Instead I traded my small truck (which was paid off) which worked perfectly fine to buy a temperamental  flashy sports car which was already modified… not exactly my proudest moment. It was only a matter of time before that car would break down on me.  In fact, during the time my super cool flashy sports car started to break down so did the relationship between me and my first girlfriend. Well one cringe worthy event after another, my response to that break up was buy another cool sports car. Yep, banks and car sales men sure loved me.

Shortly after the 3 year mark hit while I was in Saskatchewan I stayed true to my words and left my job to start a new life in Northern Alberta. On January 2,2013 was the day I arrived to a remote community in Northern Alberta. Moving up here was a huge change to my life I had in southern Saskatchewan. Not only that but it was a huge change to the amount of income I was generating as well. So I guess this blurb about me can’t end without at least one more screw up. So basically, that fancy sports car I purchases post break up I ended up trading that to purchase a new full sized pickup truck. However, where I live I bought that truck out of partial necessity for I almost killed myself in my sports car on those icy dark roads. I probably should have bought a cheaper older truck but at the time I bought it future Ace wasn’t a priority. Despite all the extra income I was generating, I was still not happy. I felt like  had no direction in life and that I was forever just going to be a consumer. It came to a point where I started to believe that the purpose of life was to continually buy something pay it off and then repeat the cycle. In short, it seemed like the only thing that would make me happy was the thing that also me made depressed and that was trading my time for things I didn’t need or truly valued.

Moving to more recent times, It was about mid October 2013 when I picked up the book, “The Lazy Investor” by Derek Foster. That book opened my eyes, as to how I viewed money. And I promise you I wasn’t paid to say or even mention the book. I myself am not a huge book reader but Derek’s work for me was very easy to read and understand. And it lit a fire under me to start thinking about future Ace.It really didn’t take long before I became infatuated with the stock market and passive income. Despite my poor spending habits, I did always made a point of paying things off as fast as I could to keep debt to a minimum so it gave me a good starting point. For those of you who are reading probably wondering how I was able to pay off such debts in a short amount of time. When I moved to Saskatchewan my parents actually had a hotel business they purchased prior to me becoming a lab/x-ray tech so for the first several years of work I was able to live rent free. that would be one of the biggest contributions to my success with keeping debts low.

I truly do believe investing is simple. A good friend of mine who also happens to be a very successful investor let me in on his secret,

“only invest in the best of the best”

Sorry Mark for spilling the ultimate secret in successful investing but I’m sure you don’t mind.

Throughout this blog I will try and keep things as simple as possible. In a way this is a personal diary of my new and improved frugal lifestyle and will keep me accountable for all my action. By sharing my journey I hope to help inspire others to take the road less traveled. Thank you for visiting my blog and I hope I hear from you in the future

17 Comments

  1. Wow. Thats quite a story. Thank you for sharing it with the rest of the world…and Im glad to hear that you have learned from your mistakes and getting an early start in your journey to financial independence. You will look back at this as one of the best decisions of your life.

    Best wishes with your investments and the journey. I’ll be sure to follow along.
    R2R

    ps: I love that “interest” quote under your title…its one of fav finance quotes.

    • Ace

      September 3, 2014 at 2:27 am

      R2R,
      Looking back at how naive I was, I am glad I choose to make the mistake at an earlier stage in life. Though I am sure I’ll still make plenty more in the future. I really hope in the future I’ll look back and think that this will be the best decision of my life,
      Yep that quote is a classic, motivates me every time I read it :P

      Take care, and thank you for stopping by!

  2. Thanks for sharing your story. Looking forward to reading more about your dividend investments in the future

  3. That’s an awesome story! Looks like we both found the investing community relatively early. I’ll definitely be following you since we seem to be similar ages with similar goals!

    F2R30

    • Ace

      January 23, 2015 at 5:23 am

      F2R30,

      Thanks dude I’ll cruise by and check out your site too. Yep investing is a pretty liberating thing, and its nice it adds some sense of direction in life. Its always awesome to see other young investors out there getting excited for early retirement!

      best wishes!

  4. It is great to see a fellow Korean personal finance blogger. Your story is quite impressive (my parents were hard worker as well Haha). I just have added you to my blogroll and just subscribed so that I can come by often. I look forward to more writings from you so that I can keep myself inspired and work harder to achieve goals in my mind.

    Keep cracking

    BeSmartRich

    BeSmartRich

    • Ace

      March 5, 2015 at 6:39 pm

      BSR,
      Fellow korean-canadian checking in. Indeed Korean parents are a rare breed haha ;) . Thanks for the add man,I’ll be sure to return the favor. Hearing that I inspire you to continue to push yourself is great to hear, In fact its the best way to start my day so thank you.
      Always glad have you leave your mark here fella

      Take care

      Ace

  5. Thank you for sharing Ace. I bet you wouldn’t change anything though because who you are today is what’s ever happened to you. You’re doing fantastic and so very young. I’m very impressed because you’re in a great position now and time is on your side. I wish you continued success and happiness and will visit you often. Thank you and take care.

    • Ace

      March 28, 2015 at 4:56 am

      DH,
      I would never change a thing in my past, everything i experienced has helped me mold me to the person i am today. I am extremely grateful to be raised by amazing parents and fortunate I met the right people in my life who brought me to where i am now. In all honesty i think i got lucky when my curiosity lead me to buying a book about investing and to become so moved and inspired by what i read and the ideas that were put into my head. Thank you so much for the kind words.

      Best Regards

      Ace

  6. Hi Ace! Just discovered your blog, and I like what I read :).
    You are doing amazing, keep it up.

    • Ace

      March 28, 2015 at 4:58 am

      Hi Fabsavings :D

      Right on im glad you manage to stubble upon my little website! Thanks for leaving your mark here, I love when a visitor makes there presence known so for that thank you :)

      I appreciate the support, you have a great day!

      Ace

  7. Hi Ace,

    Very nice story. Good for you that you are starting dividend investing at such young age!

    Still curious about the brands of those sports cars :)

    • Ace

      June 27, 2015 at 4:06 am

      Hey DF,
      Thanks for stopping by and leaving your mark!

      So the brand of the cars i went through were
      1. 2010 Ford Ranger
      2. 2003 mazdaspeed protege (bought it off someone who did god knows what, i think it was retuned and had a diffferent intercooler either way it broke on me very quickly)
      3. 2010 hyundai genesis (did a bunch of mod, wheels, short ram intake, minor suspension work, blow off value adjusted to withstand 25 psi of boost! the ECU was tuned, and upgraded intercooler piping, high flow primary cat, and 3 inch test pipe to replace second cat )
      4. Back to my current truck which is a 2012 ford f150 FX4

      damn looking back i wish i just stayed at the good ole ranger.. oh well live yeah learn :P

      have a good weekend man

      Ace

  8. I was wondering about that truck, lol! I thought “wow that’s a fancy truck, not consistent with Ace’s financial independence, early retirement and frugal living talks” :)

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