Tired of trading your time for money? Join me every Sunday and 650+ healthcare professionals, share tips and insights on how I am quitting the rat race by 40 years old. I cover the basics of personal finance distilled into simple and basic steps, that you can use to improve your financial situation and live a more fulfilling life.
My $33k Reno Reveal + Inflation's drop π
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Reader. I am officially back in Hamilton after an incredible weekend in Mexico. Swapping the beach for the February cold is always a harsh reality check, but we have a lot of ground to cover today. While I was away, the final receipts for the rental renovation came in (yup, more than I anticipated- I forgot how much this type of labour costs), the official inflation data dropped, and Iβve been testing some new automation tools that will save you serious money this year. π Market Update: Truflation Was Right βLast week, we talked about the wild data mismatch in the markets. The official January CPI (Consumer Price Index) was sitting at 2.7%, but real-time blockchain data from Truflation was flashing a warning sign at 0.93%, sparking fears of sudden deflation. Well, the official US Bureau of Labor Statistics (BLS) data just dropped on Friday, and guess what? Inflation cooled to 2.4% (the lowest in months). The lagging government data is finally catching up to the real-time data. Truflation accurately predicted the cooldown. For our portfolios and wallets, this means the pressure on the economy is easing, and the narrative of "higher-for-longer" interest rates is starting to crack. Relief is on the horizon. π¨ The "Money Pit" Update: The Final RevealThe dust has settled, the paint is dry, and the receipts are tallied. When we started this project, the goal was to take a tired, 90s-era unit and force the appreciation to attract a premium tenant. It always costs more than you think, but this is the reality of real estate investing. The Final Renovation Bill: $33,153.88 I grouped the expenses below so you can see exactly where the money went.
π The Cash Flow Math: Show Me The MoneyA pretty renovation means nothing if the math doesn't work. To fund this $33k project, I am using a **$35,000 Line of Credit (LOC) at a 5% interest rate**. We purposefully baked in two months of vacancy (January & February) to get the unit perfect. While vacancy always stings, it allowed us to list the unit at a premium market rent of $2,350/month. Here is my projected monthly cash flow starting in March (please note the tenants will be responsible for utilities)
π€ The Rise of AI & Automating Your FinancesSpeaking of running the numbers, managing rentals, investments, and day-to-day life is a lot to juggle. This is where the rise of AI and automation becomes your best friend. "Who, not how," doesn't just apply to hiring contractors; it applies to technology, too. Here are two incredible tools Iβm looking at right now to automate finances and stop the "subscription bleed." 1. The Subscription Visualizer. Did you know the average person wastes hundreds of dollars a year on subscriptions they forgot about? This tool allows you to input your data and visually breaks down exactly where your money is draining every month. Itβs a harsh reality check, but highly effective. π Try the Subscription Visualizer Hereβ 2. Budgey (Automated Budgeting) My friend Zac Hartley developed an incredible platform called Budgey. If you are tired of manually tracking spreadsheets and want a seamless way to automate your budgeting, this is the tool. It takes the emotion and the heavy lifting out of managing your money. π Check out Budgey Hereβ Whether you are updating a 90s kitchen, tracking the shifting inflation data, or finally auditing your Netflix and Spotify bills, success comes down to knowing your numbers. Get the data, make a plan, and automate the rest. Robin Valadares β@financiallyfulfilledpro and Certified Financial Counsellor CFCβ’ Do you get value from these weekly emails?β |
βNavigating Finances as Healthcare Professional
Tired of trading your time for money? Join me every Sunday and 650+ healthcare professionals, share tips and insights on how I am quitting the rat race by 40 years old. I cover the basics of personal finance distilled into simple and basic steps, that you can use to improve your financial situation and live a more fulfilling life.
Reader. Whether you are cheering for the Seahawks or the Patriots tonight π (or just waiting for the halftime show), I hope you have some great snacks lined up. Iβm coming to you live from Playa del Carmen, Mexico π²π½. Iβm down here for the annual Blossom Social Ambassador Retreat. If you haven't heard of Blossom, it's a social investing app where you can see the verified portfolios of other investors. I'm actually the only healthcare professional in the group down here, which has been...
Reader. It was a massive family affair last night in Toronto. We got the whole crew together: Katie's parents (Lesley and Randy), her brother Mike and his family (Ca and baby Orion). We were hosted by Julie's (Katie's other brother Matt's wife) parents Nelly and Dale. I ended up chatting with Dale for a solid hour (as one does after a few glasses of wine) about everything from politics to the economy. But one topic kept coming up: "Is the money actually going to be there when I need it?" Dale...
Reader. Today is January 25th, which holds a special significance for two reasons. First, if you have Scottish heritage (or just enjoy haggis), it is Robbie Burns Day. The poet is famous for writing: "The best laid schemes o' mice an' men (The best-laid plans often go awry). Second, and perhaps more painfully... this is the week the Ghost of Christmas Past arrives in your mailbox. For most people, the credit card statement covering December 15th to January 15th lands right about now. It is...