I always thought that Life was the biggest trickster on earth. Some call it destiny, some call it karma, other just call it bitch ;-). As you may have noticed; I didn’t do much on my blog last week. Articles were posted but that was it; no comments back, no Financial Ramblings… just enough so most of you kept reading never wondering if there was something going on with The Financial Blogger. As it is not a personal blog but a personal finance blog, I will not explain what happened to me last week. However, I will make major modification to my financial plan. Because finance is not everything; Life is more important!
Quitting the Smith Manoeuvre Strategy
I actually sold my investment last week. Not because I thought I would never see my money back or that I thought I was making a mistake doing leverage. In fact, I still think that the Smith Manoeuvre is a great way to create wealth over long term. However, I cannot use my Home Equity Line of Credit for leverage purposes anymore. Therefore, I won’t make Smith Manoeuvre update until I start again… That’s too bad because it is probably the best timing ever to borrow to invest… But Life is more important!
My wife quit her job and we will be living on a single income
We hesitate for a while about the question of having a third one. We actually get to the point of trying to have one before making all those changes. However, we both realized that having a third one would be a really good solution so she can stop working (as she is working in a daycare, she stops working right away and still get paid). This solution was giving me an additional 2 years to increase my income through my main job and my company. I thought it was enough so she would not go back to work after.
So we realized that we wanted more that she stays at home that we wanted to have a 3rd kid. When you already have 2 children, having a 3rd one is not a big deal… not for me anyway. But it is very important to have children for the right reason. Therefore, we decided that she is better off quitting her job and we will find a way to make if fit financially.
Millionaire at 55? Not for now
My plan to become millionaire before 55 is not going to happen the way I set my stuff right now. However, Life today is more important than life in 38 years. I know me and I know I will find a way to make my finance back on track. Until then, I think the best way is that we cut off our budget, (become frugal for once!) and take care of each other within our family.
As I said, Life is a trickster; it will find a way to make things happen… the right way!
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