Welcome to the Isaved5K blog. If you are here, then I am assuming that you are interested in making sense of your personal finance and to learn how to save and grow your net worth in the disciplined and responsible way. The main goal of this blog is educate the average person on how to save money and manage his/her personal finance in a responsible and realistic way from my personal experiences and opinions. In my blog, I’ll share the success stories, failures, lessons learnt and future opportunities that can be explored to increase your wealth.


Home Sold
Financial Fitness
Financial Fitness
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Free Money
Performance Review
Emergency Funds Access
Retiring on the beach at age 48

Heading layer

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How My Client Saved $ 30,000 When He Sold His Home - How much money do you want to save when it comes to buying or selling your house?


About Leo

Leo T. Ly, Real Estate Agent in the Markam and GTA areaLeo T. Ly is a personal finance enthusiast who had built a net worth of a million dollar over a ten year period. He did it by being a disciplined saver, taking advantage of income tax rules, borrowing money to invest rather than for consumption, taking free money from employers and governments, and building extra income sources from non-employment sources. After achieving the million dollar mark, he’s now embarking on a second journey (Freedom 48) to make his second million dollar so he can achieve Financial Freedom. On this journey, he’ll share his personal experiences, methods, and strategies that the average person like him can use to achieve financial freedom before the age of 50. To find strategies on how you can make your first million or to follow his journey, you can subscribe to to this blog. This is the first time that he’s writing about himself in a third person (and it’s kinda weird.)


Let’s start with a great proverb, “Give a person a fish, you feed that person for a day. Teach that person how to fish, you feed that person for life.” So grab your fishing rod and follow me. I’ll teach you how to fish in the Real World. Most of the finance concepts that I presented, I have either tried it or had done a full analysis on it. Hence, I would not recommend anything to my fellow readers that I have not tried nor done any analysis on it.


Blog Contents
In my blogs, you’ll find a few main recurring themes: Things that I’ve done successfully and benefited me greatly, past failures that I had experienced, ideas or opportunities to explore to increase your wealth in the future and personal thoughts. From those themes, I hope that readers can benefit from both my successes, learn from my mistakes and work together with me to explore new ideas and opportunities that this community generate in an on-going basis.


Trade-off Vs Sacrifice
When it comes to saving money and building wealth, many people think that they need to make significant sacrifices to their lifestyle or living very frugally. On the contrary, I see it as a trade-off rather than a sacrifice. I doesn’t always have to be like that. What this means is that I am willing to trade what I am not getting right now for something that will provide me with greater potential in the future. In my posts, you’ll see how the trade-offs were made to my benefit (or drawback) and you can decide for yourself if you are willing to do the same.


My goals
Can’t measure your success (or failure) if you don’t have anything to measure against. Below are my family’s goals to achieve financial freedom within the next 10 years (that means early retirement for me @ 48 – wooohooooo). Based on my current saving history, it took my family 10 years to build a net worth of 1M and people said that the first million is the hardest. Hopefully, 10 years is sufficient for my second million. So here are my five major goals for the next ten years:
1) To have a family net worth of over $2M – 55% completed
2) To save $100K for my kids’ university funds – 27% completed
3) To generate an annual income of $100K from non-employment sources – 20% complete
4) To live next to a body of water (unpolluted body of water with fish) with a decent fishing boat, some land for gardening (you know you are old or getting old when you have gardening on your list) and less than 100KM away from the big city – No idea if this is still a goal in 10 year, but for now, it’s my ultimate retirement dream.
5) To work as a volunteer instead of being paid for my work (hey, not all goals have to be financial)


How do I monetizing this space?
For every entrepreneur out there, the ultimate goal is to be financially rewarded for the effort that they put in to provide a product and service to the public. The two main source of financial compensation will come from ads on the site and sponsors. To keep the readers from being bombarded with ads, this site will not feature more than two ads at any given time. Also, a full disclosure will be provided if any of the blog article is sponsored by another organization.


My two cents
At the end of most of my postings, I will give the readers my two cents worth of thoughts. Nothing is sugar coated and I will let my readers know where I stand on the posting topics. Readers may not agree with every post and I respect that as everyone is entitled to have his or her opinion. I also encourage readers to provide meaningful and constructive feedback to foster learning opportunities for others using this blog space.


The postings in this blog are based on my personal experience and opinions. It’s not meant to serve as advice for how to make money. It is meant as a resource to give readers a personal perspective on the topic of personal finance from the average person’s point of view (I think that I am the average person). However, I will end the disclaimer with this advice, “It’s your money. You should be the person responsible for managing it.”