TMFCanuck

An Interview with TMFCanuck

The Fool:

What's the best advice you've ever received?

TMFCanuck:

Neither a borrower, nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
This above all: to thine own self be true,
And it must follow, as the night the day,
Thou canst not then be false to any man.

Polonius, Hamlet (Act I, Sc. III)

The Fool:

Speak to the dead. You must have something to say. They may be listening.

TMFCanuck:

Can I have your stuff?

The Fool:

Given a second chance, what financial decision would you like to do over?

TMFCanuck:

I'd have saved more when I was younger.

I had a great job all through high school and university (a decade working in a unionized grocery store chain in Canada). I started at the right time so as to have considerable seniority (basically could choose my hours), and made great money (to put in perspective, when I took my first engineering job out of university, my hourly rate was less than my grocery store job).

And I also went to a 'co-op' university for my undergrad, where I would go to school for four months, then work for four months (in an engineering co-op position...this is in addition to the grocery store job), and earn enough (and then some) to pay for the next semester of school.

Yet, I put literally nothing away (although I did graduate university debt-free, so there's that). Moreover, I had rung up my credit card through school and was making the minimum payments.

I mean, sure, my university girlfriend had expensive tastes, but we can't blame her for all of it.

First rule today - pay yourself first! Minimum 10% of gross income goes to investments...ideally more...ideally MUCH more!