Wednesday, 27 May 2020

Funding Two Funds

So, a couple of months back I dipped into my Mid-Term Savings (Considerably) in order to do some investments. 

Once was back in February to top up my TFSA to a target level (seriously, I don’t know why I did this as it was just an arbitrary number in a savings account).

The other time was when the market crashed and I decided that then was the best time to get into the stock market. 

(As in the day that the market wiped out all of the gains that it had made since 2016).

Since then I have been trying to put some cash into my Mid-Term Account as well as the markets (my TFSA).

I want to do both, and do them aggressively but I can’t, so I can either do one aggressively and ignore the other or do them both cautiously.

I do want to have my Mid-Term Account fully-funded, but I also know that the stocks that I like are now in a “Buy” position, so they are relatively cheap right now.

So, I will continue to do both, as my plan is a medium-term plan that will take 5 years to run, so I can take the next three months to fund my Mid-Term Account.

Things may happen that will cause me to change my plan, as I always have to be adaptable.

I may not know exactly what my future holds, but I do know that it will require, or be enhanced, by having some sort of savings.

Both the kind that I can access right away (Mid-Term Account) and the kind that I will build up and access for larger life goals (Long-Term Account/TFSA).

As always: Keep your head up, your attitude positive and keep moving forward!

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