My work is not particularly reliable, and does not pay as well as it should. I want to be able to provide a better life for my family than I currently can.
Instead of complaining (although I do some of that too) I decided to try to look for some alternative sources of income.
This blog is one such endeavour. By my reckoning, if things continue as they are, I should be able to cover the costs involved with writing this blog by about 2050. That’s not a typo; I really don’t make much money with this blog, but it gives me a reason and venue to focus on finances, so that is enough of a benefit for me. But that’s not actually the biggest benefit I derived from starting Loonie Lover.
With the advent of the Internet, stock investing was suddenly democratized. In a very few short years, it became possible for “regular folk” to invest directly in the stock market. Individual investors were no longer obliged to trade through a stock broker. Mutual funds didn’t need to be bought through a bank. Fees and returns could be compared easily. Information about companies financial situations was available for anyone who took the time to visit a company’s website and spend the time reading the vast quantities of information posted there. All of this is great; more information is always better, right?
Well, no. Especially when you’re getting started. Too much information quickly becomes confusing, and very shortly thereafter, overwhelming.
Like anything else, too much information is a bad thing. (Caveat: This is true unless you’re a professional investor, or investing is your chosen hobby.)
Once in a while, something clever comes out of just about everybody’s mouth. Even mine.
A few weeks ago, I was driving my daughter somewhere when the subject of money came up. As most seven-year-olds are, she is eager to please (most of the time), and she knows that I spend a lot of time reading and learning about money and investments. I don’t remember exactly how the conversation went up to that point, but she said, with all the gravity she could muster, “We have to learn about money because it’s so important.”
Without thinking, I answered with what I think was some pretty good fatherly advice: “The reason we have to learn about money is because it is so unimportant.”