Hi! I am Leo T. Ly and welcome to my humble Canadian personal finance blog. In this blog, you’ll find two main personal finance themes that I enjoy sharing my personal thoughts and experience on. The first theme is how to achieve financial independence by saving your income diligently, managing your money responsibly and growing your savings with discipline. The second theme is how to increase your knowledge in the real estate market to either increase or protect your wealth. Let’s get started.
Who Is Leo T. Ly?
I am a Canadian personal finance blogger/enthusiast and a Realtor living in Markham, Ontario, Canada. I built a net worth of a million dollars over a ten year period. I did it by being a disciplined saver, taking advantage of income tax rules and borrowing money to invest rather than for consumption. I am often excited to take advantage of free money from employers and governments in addition to building more passive income sources. After accumulating my first million dollars, I am now embarking on a second journey towards achieving financial independence. On this journey, I will strive to increase my net worth to two million dollars and retire by the age of 48 – Freedom 48. Come along and follow my journey.
What’s My Personal Finance Story?
Here is the short version of my personal finance story. When I first graduated from the University Waterloo with a Mathematics and Business Administration degree in 2003, I thought I was going to make big bucks. Boy, was I dead wrong. With $30,000 in student loan debt and struggling to find employment, I had to settle for a job far away from home in Barrie, Ontario. My first job paid me a meager $35,000 in annual salary, an amount that was even less than my co-op student salary. With a mountain of debt and a peanut size salary, I was motivated to find ways to minimize my income taxes, maximize my personal savings and pay off my student loan as quickly as possible. Over the years, I had accumulated a great deal of personal finance knowledge and tried many investment ideas to increase my personal wealth. After my net worth broke the million dollar mark in 2016, it provided me with the experience and confidence to share my personal finance knowledge with others.
Why Did I Start This Personal Finance Blog?
There are a few reasons why I started this Canadian personal finance blog. The first reason is to create awareness that the Canadian education system lacks the basic financial literacy curriculum to prepare the average Canadian for life. Secondly, I want to shatter the perception that talking about money is taboo. To do that, I will be open, transparent and share as much of my own personal finance successes and failures with my readers as I possibly can. Third, I want to build a Canadian personal finance community where like-minded individuals can come to learn, share and grow their personal finance knowledge. Last, but not least, writing for my blog is therapeutic and I am happy to share my tried and tested methods to build wealth with this community.
When Do I post?
When I first started blogging, I don’t have a regular schedule for my posts. I tried to write as often as I can and as much as I can. However, to ensure that I can blog consistently and be accountable to my loyal followers, I will try to post at least once a week. I will also try to respond to all the comments and questions from my readers as soon as I can.
Where Do You Start?
This page of course. This is the starting point of my personal finance blog. Whether you are a novice personal finance enthusiast, a seasoned personal finance expert or another personal finance blogger looking to connect, I have a post or two for you. To promote sharing, learning opportunities and feedback, I’d love to hear from you in the comment section of each post. So don’t be shy to give me your two cents worth of thoughts. For sure, you’ll always get my two cents at the end of each post.
For The Novice Personal Finance Enthusiasts
- Financial Literacy For Canadians
- How do I love saving money? Let me count the ways …
- How Far Can You Stretch Your Dollar?
- How I earned a 72% return on my saving the easy way
- Part 1: How To Improve Your Financial Health
For The Aspiring Millionaires
- The First Step To Saving A Million Dollars
- The Second Step To Saving A Million Dollars
- The Third Step To Saving A Million Dollars
- The Fourth Step To Saving A Million Dollars
- The Fifth Step To Saving A Million Dollars
- The Last Step To Saving A Million Dollars
For The Seasoned Personal Finance Experts
- Freedom 48 Investment Toolkit: Margin Account And Option Basics
- Freedom 48 Investment Toolkit: Minimizing Your Income Tax
- Freedom 48 Investment Toolkit: Using Options To Improve Investment Returns
- How I get pay when borrowing money from the bank
- How to build access to a $100,000 emergency fund with $0 locked up
For My Fellow Personal Finance Bloggers
- 10 Passionate Canadian Personal Finance Bloggers To Follow In 2017
- Achieving Financial Freedom Is Like Building Your Superbowl Winning Team
For The Real Estate Enthusiasts
- 26 Tips To Buy Your Dream Home With Confidence
- Are You Doing Enough Research When You Purchase Your Property?
- How My Client Saved $30,000 When He Sold His Home
- How to buy an investment property: step-by-step
- How To Find Your Ideal Realtor
For The Personal Story Readers
- Part 1: My Million Dollar Journey
- Part 2: My Million Dollar Journey
- Part 3: My Million Dollar Journey
- Part 4: My Million Dollar Journey
- Freedom 48: The journey to financial freedom
For The Curious Cats