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Thread: How is Life Over 30?

  1. #61
    Senior Member skoo78's Avatar
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    Quote Originally Posted by Trien Chieu View Post
    What a coincidence!! I am part-time self employed too! I don't make big but more than enough for me to live a simple life. I have no debt to worry about. I love the relaxing life. I am doing in-home math tutoring. Are you a math tutor?
    Lol...unfortunately, I still have debts and I am not a math tutor. I am a freelance photographer. I do enjoy my life though...relaxing and living a single life.
    Last edited by skoo78; 02-09-15 at 01:59 AM.
    Sim neej aws...

  2. #62
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    I think the trend today is to be self-employed. Maths tutoring and photography sound fun.

  3. #63
    Senior Member Nan Ling's Avatar
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    Quote Originally Posted by wkeej View Post
    A simple test about one's social life. Ask yourself whether any friend will come to your funeral. Currently, I doubt any 'friend" will come for my funeral.
    Aww how sad, I'm sure they would come unless they really cannot afford it because live really really far. I'm sure your friends have not forgotten you but with kids and work, there is more obligations. Also, more people are selling online, so more opportunities for self employment =) I kind of wish I can work from home
    Last edited by Nan Ling; 02-10-15 at 11:06 AM.

  4. #64
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    I have been self-employed in the last 9 years. No income stability is the biggest issue. I am fine for leave and medical benefits. To think about it, I hardly fell sick that require me to see a doctor after becoming self-employed.

  5. #65
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    Quote Originally Posted by skoo78 View Post
    Lol...unfortunately, I still have debts and I am not a math tutor. I am a freelance photographer. I do enjoy my life though...relaxing and living a single life.
    Good for you. As long as you enjoy your life, it's good.

    Quote Originally Posted by wkeej View Post
    I think the trend today is to be self-employed. Maths tutoring and photography sound fun.
    As long as you enjoy what you are doing, self-employed or not don't matter at all. It's just a job to earn a living.

    Quote Originally Posted by wkeej View Post
    I have been self-employed in the last 9 years. No income stability is the biggest issue. I am fine for leave and medical benefits. To think about it, I hardly fell sick that require me to see a doctor after becoming self-employed.
    Being self-employed needs to be more conservative financially. It's very important to be debt free with at least $30k of emergency fund.

  6. #66
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    Quote Originally Posted by Trien Chieu View Post
    Being self-employed needs to be more conservative financially. It's very important to be debt free with at least $30k of emergency fund.
    Good point, TC. Yes, debt free and some spare cash in case of emergency.

  7. #67
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    Quote Originally Posted by wkeej View Post
    Good point, TC. Yes, debt free and some spare cash in case of emergency.
    Yeah, no matter what professional you are in, you could lose your job at anytime. Self-employed is more vulnerable as it's harder to collect any employment insurance and your income is less stable. Debt free with good size of emergency fund for rainy days can protect you from financial trouble.

  8. #68
    Senior Member Nan Ling's Avatar
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    Quote Originally Posted by Trien Chieu View Post
    Yeah, no matter what professional you are in, you could lose your job at anytime. Self-employed is more vulnerable as it's harder to collect any employment insurance and your income is less stable. Debt free with good size of emergency fund for rainy days can protect you from financial trouble.
    Agree, emergency fund is very important. I actually lost my job last year, initially the company was doing really well and it seem very stable but business just went downhill. Have you guys hear the saying that once your health goes down, you lose your freedom?

  9. #69
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    Quote Originally Posted by Nan Ling View Post
    Agree, emergency fund is very important. I actually lost my job last year, initially the company was doing really well and it seem very stable but business just went downhill. Have you guys hear the saying that once your health goes down, you lose your freedom?
    It's normal. Well, the energy sector was doing very very well less than one year ago when oil was over US$100/barrel. With the high cost of production, lot of projects in the oil sand have to either delay or cancel at the current oil price. Ten of thousands of high paying jobs in Alberta will be lost and those ones who took on massive debt during good time will be in big trouble. I got a lot less tutoring hours this year than last year but I am still ok because I have no debt whatsoever. If I took on big debt like other people thinking the good time will never end, I would be in trouble to. Prevention is always the best cure!

  10. #70
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    Quote Originally Posted by Trien Chieu View Post
    It's normal. Well, the energy sector was doing very very well less than one year ago when oil was over US$100/barrel. With the high cost of production, lot of projects in the oil sand have to either delay or cancel at the current oil price. Ten of thousands of high paying jobs in Alberta will be lost and those ones who took on massive debt during good time will be in big trouble. I got a lot less tutoring hours this year than last year but I am still ok because I have no debt whatsoever. If I took on big debt like other people thinking the good time will never end, I would be in trouble to. Prevention is always the best cure!
    Does no debt also mean no mortgage (i.e. renting vs. buying)? Are you worried about long term inflation in the housing market?
    HK47: Now do you understand the travails of my existence master? Surely it does not compare to your existence but still...
    You: I survive somehow
    HK47: As do I. It is our lot in life I suppose master. Shall we find something to kill to cheer ourselves up?

    -KotOR

  11. #71
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    Quote Originally Posted by darkcser View Post
    Does no debt also mean no mortgage (i.e. renting vs. buying)? Are you worried about long term inflation in the housing market?
    Yeah, no mortgage. Currently, I live with my family but I will move to BC in the summer this year. Regarding housing, do you live in Canada? The current price is simply to high, it has to crash. I am waiting for the big crash like it did in the US during 2008. I do not want to buy at the peak just like many Americans did in the 2006. When the market crashes, I will buy a small nice house in BC to live, not investment. Buying a house is the biggest and most important financial decision of most people life time. I have to be very careful. I do not want to make big mistake like many Americans did. In addition, mortgage in Canada are fully recourse. Lender can go after all your other assets including future earning if you walk away from your home.

  12. #72
    Senior Member Nan Ling's Avatar
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    Agree that prevention is the best cure. Low interest mortgage rates are also helpful.

  13. #73
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    I'm in the US NorthEast. What are the prices like in BC? Do you know how it compares to NY, San Francisco or Boston?

    Been thinking about a couple of acres of woodland or farmland... maybe a small cabin with wind/solar that I would probably visit once a year.

    Supposedly there's going to be a price jump in meat products in a couple of decades as developing countries start adjusting their menus to be more meat-centric. I of course know nothing about farming, raising cattle or herd building so it could very well end up poorly if I acquired some land. In all likelihood, I would just allow it to go fallow, and become infested with weeds and varmints... which will spread like a plague to the surrounding properties.
    HK47: Now do you understand the travails of my existence master? Surely it does not compare to your existence but still...
    You: I survive somehow
    HK47: As do I. It is our lot in life I suppose master. Shall we find something to kill to cheer ourselves up?

    -KotOR

  14. #74
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    Quote Originally Posted by darkcser View Post
    I'm in the US NorthEast. What are the prices like in BC? Do you know how it compares to NY, San Francisco or Boston?

    Been thinking about a couple of acres of woodland or farmland... maybe a small cabin with wind/solar that I would probably visit once a year.

    Supposedly there's going to be a price jump in meat products in a couple of decades as developing countries start adjusting their menus to be more meat-centric. I of course know nothing about farming, raising cattle or herd building so it could very well end up poorly if I acquired some land. In all likelihood, I would just allow it to go fallow, and become infested with weeds and varmints... which will spread like a plague to the surrounding properties.
    Price of housing in Vancouver is pretty much out of reach for working Canadians. Vancouver is the second most unaffordable city to buy a house in the world based on income. It is second to Hong Kong. I don't plan to move to Vancouver as the cost of living is too expensive. I plan to move this summer to Surrey, Langley or White Rock somewhere is about 50 km (30 miles) away from Vancouver. My original plan was to move to Victoria but I just change my mind recently as I found there is more opportunity in the mainland than the island. Housing in Surrey, Langley and White Rock are not as expensive as Vancouver but still pretty expensive. I am waiting for the market to crash like it did in the US.

  15. #75
    Senior Member skoo78's Avatar
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    What are some of the things you enjoy doing when you are over 35?
    Sim neej aws...

  16. #76
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    Quote Originally Posted by skoo78 View Post
    What are some of the things you enjoy doing when you are over 35?
    Reading? I seldom read when I was younger.

  17. #77
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    Quote Originally Posted by skoo78 View Post
    What are some of the things you enjoy doing when you are over 35?
    Spend a lot of time on my MacBook including, checking email, reading the news, surfing the web, playing old school games from game-oldies.com, posting and reading message from spcnet.tv. Beside MacBook, watching TV and tv serial, and running on treadmill.

    What about you?

  18. #78
    Senior Member Nan Ling's Avatar
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    I think price of meat already triple but yes I did hear it will keep going up. Price of eggs also increased.
    Wow didn't realize it was that expensive to live in Vancouver.

    What are you guys currently reading?

  19. #79
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    Quote Originally Posted by Nan Ling View Post
    I think price of meat already triple but yes I did hear it will keep going up. Price of eggs also increased.
    Wow didn't realize it was that expensive to live in Vancouver.

    What are you guys currently reading?
    Where do you live? Price of meat has been going up pretty much all over the world but triple? Not just meat but pretty much everything you need to consume daily is going up and up. Things that you don't need to buy regularly like TV and computer keep going down.

  20. #80
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    Quote Originally Posted by Nan Ling View Post
    I think price of meat already triple but yes I did hear it will keep going up. Price of eggs also increased.
    Wow didn't realize it was that expensive to live in Vancouver.

    What are you guys currently reading?
    Reading random stuff like the debate of company crime vs criminal crime? Which is more serious stealing $1 million from a company vs $1 from a beggar?

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