Life – January 2017

Hello World,

Well, I am definitely late on these blog posts! Been so busy this month working my ass off with year end quotas. I will do a double post today, Life & Buys.

2017 has been a fast ride so far. Moving swiftly through the first month. Two highlights for the month, the DOW reached its historical 20K mark & I almost bought a condo.

In my eyes the market will always trend up; as population grows, education grows, careers grow, culture grows. It’s a compounding effect I would say. As usual, everything comes with a cost. Not counting chickens that haven’t hatched!

I almost bought a condo. Pretty crazy, I found a 2 story corner unit in a pretty decent neighborhood. I saw it once and put an offer in instantaneously. I had a gut feeling what I was doing was completely wrong. The offer was at the ask so I would ensure I get the condo. Not surprisingly, I did. The offer was accepted and we were just about to go to attorney review. I ran the numbers again and knew that this was not going to be the one. I backed out last minute and thankfully all was voided.

I backed out for many reasons. For one, I did not have the full 20% down payment required to not have a PMI. A PMI of 100$/month is basically throwing money away for not having enough money to put down. I had a mere 5% as my mortgage broker mentioned was only required as a first time home buyer. A lot of my net worth is tied in the markets as it should be, but now it’s coming with a price; I’m still home with my parents. In American culture, that’s a complete sin. I should be out there living the American Dream. Finding a woman, a mortgage, having children, going out, vacations, etc.. In my culture, it’s a blessing having more family under a roof. I guess I should look in the perspective of my culture as I continue my search =/.

This means I will most likely be saving more cash in the future. There are bear markets in certain sectors, but overall this market today remains at all time highs. I can sit on the side lines for a little and watch the portfolio grow organically. Boring, but needs to happen. Getting up there in age! Need to move eventually, it’s getting a bit ridiculous even in my eyes.

Another reason I backed out was.. I put in my offer 2 Sundays ago, the Monday after is when it got accepted. On Tuesday morning, there were rumors of a larger firm buying out or merging with ours. This would most likely mean, our staff including me would get the boot. Insane how time works!! Imagine jumping in this mortgage and I get a job cut a few months later (**knocks on wood**). I can find a job fast, I am confident in my abilities, but man why go through that? This blog is about making the choices of the mediocre or making the choices of a millionaire. I must stick with the latter.

Plenty of other reasons, but for now I must carry on. Happy 2017 all! I really believe in a spiritual force. And thankful everyday that force has had my back since inception.

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