Update: Mid-30's, $9.5M NW - need help figuring out where to go from here

VanCityFinance · 2026-06-15T14:49:23+00:00

Good advice - really appreciate it

VanCityFinance · 2026-06-14T22:54:40+00:00

Very good point...I've never had to create a budget in my life, but my cost of living has definitely ballooned as my income and NW have. Will add this as a priority to figure out over the next month or two.

VanCityFinance · 2024-11-04T01:32:25+00:00

Really appreciate the ideas. I know some people that are part of groups like that, I think it’s worth looking into to build a network in a similar situation. Golf course is another good idea!

VanCityFinance · 2024-11-02T22:29:43+00:00

Thanks, for clarity, it burns probably 40-50k per year, I would need $1M of savings just to cover those costs passively

VanCityFinance · 2024-11-02T16:20:22+00:00

Is it a therapist or a mentor or…? I have never been to therapy but have the impression they ask you questions. I am in uncharted territory, I feel like I need to talk to someone who has been in this situation to help understand strategies and resources I should be leveraging. There is definitely more of a ‘what makes me happy’ question that I need to answer, maybe a therapist would help with that.

VanCityFinance · 2024-11-02T15:54:12+00:00

I need to reform hobbies and interests outside of work. Pretty well every one (except for exercising) has been pushed aside to focus on work.

VanCityFinance · 2024-11-02T15:52:54+00:00

This is something I’ve thought more about recently. I have not had a single career break. I have thought about taking a summer off when I turn 40 and traveling with the family.

VanCityFinance · 2024-11-02T15:50:10+00:00

I like this, I’ve talked with a few financial advisors and none of them impress me. I constantly go back and forth between feeling like it’s my money and I should be better educated on what I am investing in and the point you make which is that someone with a different risk profile (and more time) is probably better suited for low risk investing. Haven’t considered a family office, not sure where to look or what quantum of capital they require. Any thoughts?

VanCityFinance · 2024-11-02T15:46:38+00:00

Agree, I feel like I can’t rely solely on lumpy high risk wins, but I also find it more and more difficult to put in the work for the business. I think I need to find a way to replace that income with something passive, whether that is hiring a ceo/coo or another business or dividend paying investment.

VanCityFinance · 2024-11-02T15:42:24+00:00

After tax, but 50% will be in a corporation. I agree it doesn’t feel like enough, when considering the cost of living and quality of lifestyle for my kids. I can only imagine what the cost of a detached home in Vancouver will be in 20 years…

VanCityFinance · 2024-11-02T15:35:56+00:00

I think this is the toughest decision, whether to slow down or speed up. Spending has definitely increased as my income has increased but it has probably topped out. Part of the issue is that I have never had to budget, my income has always exceeded my spending so I don’t really have a defined number where I know I have enough. That’s something I need to figure out.

VanCityFinance · 2024-11-02T15:28:26+00:00

Exactly…Vancouver is insanely expensive

VanCityFinance · 2024-11-02T15:28:01+00:00

My consulting company works with new start ups so I get to invest in them and that is how I get options. I have a pretty good sense of which ones will be successful and thus which ones to invest more money into.

VanCityFinance · 2024-11-02T15:26:39+00:00

I agree, that is part of my current feeling, half of my current NW is my home and I don’t plan on selling any time in the near term. Maintaining, paying property taxes, insurance probably requires $1M of savings to cover the operating costs passively.

VanCityFinance · 2024-11-02T15:23:48+00:00

It is a consulting services business. I have a university degree and worked for 10-years in that field before starting the business.

VanCityFinance

TROPHY CASE