The Nuts and Bolts About Me
My name is Steve and I live in Vancouver B.C. Canada.
I’m 30 something and I work in the construction industry.
I’m a happily married father of 3 living off a single income.
My wife has been a stay-at-home mom for around 8 years and although it has been a financial challenge at times, it has been one of the best investment our family has ever made.
I started this journey in 2006.
At the time I was living the average life for people at my age. I had a mortgage, a truck payment, a motorcycle payment, a $50,000 line of credit taped out and a wedding coming up. In hindsight, I’m not even sure how it got to where it was but that’s the way life goes.
One day, as I was doing my thing, a colleague started talking to me about some companies he owned and how they payed him a dividend. I had heard the term before but never really caught the drift of what it was. As soon as he explained what it was, I was hooked. Free money? Who doesn’t want a piece of that!
I started to read every investing book I could get a hold of. I started off small with The Wealthy Barber and Stop Working (I don’t recommend this book) and later moved on to the classics, Security Analysis and The Intelligent Investor. Quickly, I realized, this wasn’t just a way for rich people to get more rich, it was a way to become financially independent and be able to leave work before I turned 65.
Now that I had the information, I knew I had another problem to overcome.
I had no money!
I knew I needed some money in order to buy these stocks that would pay me but I had none.
In fact I had negative money. Debt. A lot of debt.
I had to take a serious look at my finances for the first time and it was not looking good. I made the conscious decision that I needed to change things and took the first step.
The Steps I took
I made a budget, an income report, a savings plan, a debt reduction plan and so much more.
The biggest and most important step to becoming financially independent is to want to do it and then understand that you CAN do it!
I will get more into this through out this blog because I could fill this page several times over with the steps I took but I took them.
In less than 8 years I paid off my mortgage.
I knocked off $50,000 in debt from the line of credit
Paid off the visa
Paid off the cars
Accumulated close to $350,000 in my Retire Early Fund.
The reason for this blog is two-fold.
I like learning about finance and even more, I enjoy sharing my financial journey with younger people (and my kids) to hopefully help them avoid some mistakes I made when I was young.
The second reason for this blog is that I NEED to track my moves and be accountable to myself!
I hope this will keep me glued to my plan of slow but steady (bunting) path to building financial independence and win a game rigged for guys in suits.