Thanks for checking out my blog.
I’m not a professional trader or investor. I work a normal oil field job here in Alberta. Luckily working in the oil industry pays pretty well and I’m going to take advantage of it.
I went down the rabbit hole, reading every financial independence site I could. Dividend investing was one of the most popular paths to FI. I was hooked, started buying as many dividend stocks as I could.
A huge factor with financial independence is your savings rate, I started increasing my savings every year. A high savings rate can increase your net worth a lot fast than investment returns. I’m trying to save at least 50% of my income.
I am treating my income and investments as a business, constantly cutting costs and re investing. I’ve always thought about starting a business, but really don’t know how. I’ve decided to invest in other businesses instead.
I’ve always been interested in the psychology. Why do we do the things we do. Why do so many people buy high and sell low? There’s a good book by Dan Ariely called Predictably Irrational. Its not a book on investing, but it covers how we commonly act in irrational manners even though we know we shouldn’t. It try to be aware of my own emotions making me act irrationally. Having a lot of money on the line is an easy way to act irrationally.
Lately I’ve changed my focused and started investing in the Canadian MJ sector. This change in investing style has helped propel my investing account. I’ve been investing in the sector for 3 years now, things are just starting to heat up. While this has helped me increase my account size, it doesn’t come without draw backs. These stocks are extremely volatile. The sector is very new and no one really knows how everything will shake out. A lot of the stocks trade at much higher valuations due to projected future earnings. If these earnings never materialize it could mean a crash. Basically the sector is a high risk, high reward. Of course I’m hoping for the high reward.
My end goal is to increase my investing account enough to achieve financial independence by switching back to dividend stocks.
Thanks for checking out my blog, I’m not a professional investor just an average guy trying to reach financial independence through investments.
I’ve been investing in weedstocks since 2014. This blog is meant to share lessons learned, psychology behind my investing and research into up and coming weedstocks.