2018 Review and Thoughts

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16 Responses

  1. DivvyDad says:

    Nice work on the goals Rob, and despite them not all being done I think there is still a lot to be proud about there in your accomplishments. My wife and I are right there with you on the will, as every year we mention how we need to do it but never make the time to actually do it. My FIL just did one recently as he has been going through a health crisis and that motivated him to get it done.

    Sorry to hear the flu bug has been going through your house; my wife had it just before Christmas and my oldest son had it over Christmas. Knock on wood it seems to be behind us now.

    I’m happy that I found your blog and have been able to connect this year, and look forward to seeing what you can accomplish next year! Here is to a safe, happy, and prosperous New Year!
    DivvyDad recently posted…Recent Buy :: Kellogg CompanyMy Profile

    • Rob says:

      hey dd

      Kinda nice to hear im not the only one without a will. I guess in a weird way….

      We both need to get on that, the community online helps a tonne keeping ya accountable. Hopefully this will be the kick i needed to just go do the fricken thing! haha

      flu’s suck, but i think its passed.

      Great to hear the comments on the blog, got to love hearing that stuff.

      I also really enjoy your blog and constant comments on both our blogs/twitter…

      Cheers!

  2. Tawcan says:

    Nice work on your goals. Wills are easy to slip but super important especially when you have kids! I’d definitely put that on the top of your goal list for 2019. And find yourself a good lawyer to draft up a will. Don’t use one of those online kits. A good lawyer can draft up your will so you don’t need to change it in the near future (i.e. if you have more kids and have wishes for future grandkids, and different scenarios).
    Our household got hit by the flu bug for a month just before the holidays so I know how that feels. Get better soon!
    Tawcan recently posted…The recession is coming???My Profile

    • Rob says:

      hey Bob

      thanks man, seems to be the consensus to get a lawyer involved. Yeah not having one is, has been a error in our part. Our kids deserve better.

      Glad you are all better, seems like it may have finally passed here as well.

      cheers

  3. Greg says:

    HI
    We have a will. We update it every 7 years. Why because our kids grew up and now they are adults.

    In our first will we named POA ( power of attorneys, executors, and where the kids would go should both of us not be around). As they got older we changed the will again, more in the how we want to be buried, POA’s and Executors changed as friendships changed etc.

    Early on we bought Term 100 insurance to make sure costs were covered when ea of us passed on . When you are young and have a young family the cost of term 100 is cheap. I made sure to buy enough to cover taxes on our estates after we left this fun world.

    Use a lawyer to get your will properly done. Pick one you know or one of your friends knows. Having a lawyer is personal and you should get along with them. Costs will vary between $400 and $700 approx. But for your sake and the family, its a no brainer. Don’t mess around with on line wills. Get a lawyer and as time goes on you go back and update/change it.

    I had a stroke 6 years ago and I also had Critical Life Insurance on the mortgage. I survived the stroke and the mortgage was paid. I didn’t have it on my LOC but at least the home was looked after.

    Well these are few of my ideas. One more for you….. make sure your parents have updated wills and you know where they are and whose the POA and Executor. Make sure you have joint accounts with your parents as it saves on probate costs. If one of your parents takes ill or gets Alzheimer’s then its too late and yes the Govt can come in and manage the account.

    So WILLS, Parent Wills,
    Happy New Year to all of you and the readers as well.

    • Rob says:

      wow Greg lots of great info there. Thanks alot

      Good to hear you recovered from the stroke. Those are no joke. My dad basically had one but went to the hospital in time and did suffer any stroke symptoms after.

      As for life insurance im a huge fan and have had a term plan in place for about the past 10 years. Once we got the house, we thought it would be a good move to get for each other.

      I will definately take your advice about the will. Thanks!

  4. p2035 says:

    Hi Rob. Great year in deed 🙂 Nice notes about the economy, I have done some research myself in this field https://p2035.com/2018/11/10/is-the-next-recession-really-coming-2/ As you said economy looks more or less ok and the market releasing its steam is a good thing as if it would continue we would end up in 2000 dotcom bubble scenario in 2019-2020. Now it looks like a more safer place to br (The Market that is). But O would still like to see some more decline of -20%. Now the prices are berable but not atractive 😉 Good luck with your new 2019 goals. You should try SMART goal seting methodology (hope dont mind another link) https://p2035.com/2017/04/22/smart-goals/ I havd wrote about that technique some time ago and use it. Worked for me 🙂 It is also a very good tool for project managment. We sure did good in our goal with #1 the most important now in our hands. Literaly as I write this comment 😀
    p2035 recently posted…Y2018 dividend increasesMy Profile

    • Rob says:

      hey p!

      thanks, yeah i think things dont look as bad as the media loke to portray it at the moment.

      I dont mind the links, its all good.

      As for smart goals i think i did that in my original goal post. I will check out your post for my 2019 goals though.

      Congrats on killing your goals.
      All the best in 2019!
      cheers

  5. I don’t have a will but maybe it’s something I should considering doing. Dieing is not in my plans but you never know what tomorrow awaits. Overall, you had great achievements in 2018, especially the passive income. BTW, tell your friend not to use questrade. They seem to be cheap on commissions at first, but when you sell a stock commissions are way higher. For example, if you want to sell your position to the market, Questrade will charge $0.0035/share extra. They are tricky these guys. I have a body at work, he flips 10K worth of stocks, when he sells he pays around $50 in commissions, that’s a rip off.

    • Rob says:

      hey German

      Since posting this the wheels are in motion and I have contacted a lawyer. Its gonna get done soon. Writing it down, makes it a little more concrete this time.

      Interesting about questtrade i didnt know that and forwarded him your message. Thanks

      Happy new years German.

  6. Hi Rob,

    Great work on your goals!! My wife and I haven’t set up a will… we don’t have any children but that’s really no excuse but maybe that’s why we’ve delayed this. My wife’s godfather is a lawyer so we don’t have any excuses. I’ll have another chat with my wife when we return from our travels.

    You’re right about the markets and how it impacts your emotions. It’s frustrating to see your portfolio drop but it’s great being able to buy stocks at a cheaper price. My wife and I recently retired and don’t have the income from our work. We are able to add to positions but wish we could buy more.

    Any, keep up the great work!
    Ernest
    Steps To Early Retirement recently posted…Crazy Markets, Smart PlanMy Profile

    • Rob says:

      hey Ernest

      man you have the lawyer hookup! Get on it. haha… Sounds like your living the dream with all those travels. Just awesome.

      The market will eventually come back, its not bad when your putting money into it but when your just pulling from the market that would be a different mental game. Guess I got to go read your latest post!

      cheers Ernest, happy new years.

  7. GYM says:

    You seem like you had a great year, hope you all feel better soon! I also failed about the will thing. We are waiting until we baby #2 joins us and hopefully we will get our act together. I think assigning guardianship is important too in case something happens to the parents.
    Would love to see a post about vegetable gardens and how to make one!
    GYM recently posted…16 Ways to Save Money Fast in 2019My Profile

    • Rob says:

      hey Gym

      thanks we all are feeling better.

      Currently am reading a book on wills and talked to a lawyer about what we need to get started.

      The ball is rolling, this year there will be a will.

      Like you mentioned the will is really important for our kids especially.

      That vegtable garden is basically done. i should of taken pics. Maybe the next garden.

      cheers

  8. Hey Rob,

    Great job on your goals from 2018. Eating healthier and working out are the most important ones. The real wealth is health, when all is said and done.

    Like you, I’ve been watching the market and hoping to continue investing at lower prices if the volatility persists. Perfect for reinvesting or adding new capital.

    Take care,
    Ryan
    Get Rich Brothers recently posted…Five Year Plan, Update #3My Profile

    • Rob says:

      hey Ryan

      So true health and relationships, id say.

      The market seems to of rebounded pretty nicely lately. Hopefully it pulls back a bit soon.

      Cheers

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