Tag Archives: future self

Life Fail: Muhammad Ali Jabbar


Ok, this story on Money Sense’s main page really pisses me off. I read it when it first came out, and it annoyed me then, but I thought I could get over it. But alas, they’re throwing it in my face every day so I feel the need to address what a dumbass this kid is and how ridiculous it is that the Money Sense writers try to drum up reader sympathy for what can only be described as a classic example of being young & stupid. The guy in the story, Jabbar, is painted as an unlucky student that merely graduated at the wrong time. Now the old people are getting richer and the young people have the odds stacked against them. Boohoo! What’s that you say, Universe? Everyone has financial obstacles to overcome? I might be an oddball in the sense that I don’t worry about the market, […]

Investing your money is like getting a raise


How does investing pay off? Most people think of investments in the context of capital gains and dividends, but the impact is something more tangible than that. Every dollar you earn in the stock market, is a dollar you don’t have to earn at your full-time job. The more money you invest and the greater amount of passive income it generates, the less you have to rely or your hourly wage or salary to sustain you. Let me illustrate with an example. Let’s say a friend and I work the same job, where we each make $20/hr. However, I save 30% of my income and invest regularly so that it earns roughly 5%, and my friend skips saving (they’re going to do it later, a la future self) and uses their credit card to fill in some gaps in their spending. Now, to be fair, my friend reads my website so […]

Procrastinating to Future Self

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Procrastinating to future-self is my personal pet peeve. It’s also a student’s — or any young person’s — token method of waging financial war against themselves. It’s the easiest justification for exorbitant spending because we all think that when we’re graduated and gainfully employed, we’ll be able to pay it all off. Now, that is probably true, but there’s a good chance that future-self will be a little bit pissed that so much of their disposable income has to go towards past-self’s poor decision making. $500 or $1000 will still be a lot of money 5 years from now, regardless of what you’ll be earning. Trust me, your future-self does not want to make a dozen extra student loan payments because you spent two spring breaks in Mexico. Future-self probably has their own vacations they’d really like to put that money towards. There seems to be a large disconnect between […]

Today I put away $1056 for retirement

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Just kidding… sort of. Let me explain: I turn 25 this month, which puts me 40 years away from “retirement age”. I put that in quotations because I actually think our increased lifespans will encourage bumping that age 65 up to 70+ in my lifetime. Also, the idea of me ever getting old is a laughable thing I can’t really picture, even if logically I know it’s going to happen eventually. So I’ve been saving money for about two years now, but none of it was earmarked for retirement. I have some mutual funds that were sort of kind of in my mind for this purpose, but I might like to use those for other significant grown-up investments, like a home. Consequently, I needed a solid back-up plan so my 20 year old self doesn’t screw my 60 year old self over. Enter: RRSPs. I’ve been hesitant about RRSPs for […]