The Freedom 95 Plan

Nancy recently asked me what I want my money to do for me. We kicked a few ideas around such as a precision built overpowered German sports cars. As cool as that would be, I’m not sure it is me. Certainly not at this point in my life, as I spend my weekends with a 10 year old boy who travels with at least one and sometimes two hockey bags.

I did mention the new laptop I would like to pick up this fall. I’ve had the money for it saved since last spring. I’m just waiting for the new 64K Duo-Core chip to come out, which is rumored for sometime in September. Plus I thought it wise not to buy a new toy while the weather is nice.

However, I think Nancy was talking bigger than a piece of technology with an expected lifespan of three to four years. A house would be nice, but based on my current cash flow picture I could afford monthly pay mortgage payments of about $1,000. So, if I can scrape together a down-payment of anywhere between 300 and 800 thousand dollars, I’m set. I have some savings, but nothing approaching six digits.

The other thing on my wish list is a decent retirement. I’m on the cusp of turning 44 and should have another 21 years to put that in place. I am finally vested in my employers pension plan and most of my worldly net worth is tied up in my personal RRSP. I still try to contribute an average of a hundred dollars a month. It is a start and hopefully a good one.

And, against almost all odds, there is the $2 ticket of hope. Twice this past week I was in the City of Vancouver, a beautiful place where every parking spot is accompanied by a meter. Both times, I had no change and had to dash into a corner store to buy a lottery ticket to get the needed change. I could be in line for several million dollars, which would force me to reassess the above. A hardship I would undertake, so you could get a glimpse into the thought process. And if the tickets turn out to be losers, I can still feel like a winner because I avoided expensive parking tickets and the inevitable towing charges.

Cheers!