So, as you may or may not know, I am working to buy land and stat a homestead then town, all without debt.
That is a large chunk of change to raise and so with interest rates being as low as they are, one is forced to turn to the stock market to save cash.
Now, as I keep saying, I am not a financial planner, nor am I qualified to give financial advice.
I am only doing what I have always done, simply said this is what I am doing and why, then reporting the results.
With that said, it seems like my instinct with regards to the banks was right and is paying off, their stocks are rising as the hope of some sort of recovery is increasing.
That and they have been reporting their earnings (they do that once a Quarter) and shockingly enough they have found a way to keep making record profits despite the economic downturn.
So, for them at least life rolls on as usual, though, the poor dears will have to stockpile more cash than usual to “cover bad loans,” and so make less cash than usual.
Don’t get excited or relieved about hearing them wanting to “cover bad loans” because that doesn’t mean that they will actually pay the loan you are struggling to pay off for you.
Don’t be silly, it just means that they will use that cash to settle the loan, or . . . something internal like that . . . you’re still screwed, but they’ll be okay.
How this relates to me is that the stocks that I have of theirs is increasing in value . . . steadily.
So much so that my first Milestone Marker Goal is approaching faster than anticipated.
I had always wanted to at least get to a point (as fast as possible) where I could run out and buy the land if I wanted to (yes pay cash for it).
I call that my first Off-Ramp, as in I could exit this living in an RV lifestyle if I wanted to and/or was forced to (as in the fiscal apocalypse . . . personal or otherwise).
My goal was to have that done before the end of the year, and earlier that was looking dicey.
Well, thanks to the increasing value of the stocks in my TFSA, I am on track to have that date be October 22nd of this year. (Yes on the anniversary of Total Debt Freedom Day.)
I will keep looking at that and dip into my Personal Overdraft if I have to in order to make that date (if possible) . . . just because.
Don’t get me wrong, I still have a long way to go and a great deal of cash to save up before I can think of starting the Homesteading Process.
With every dollar I put into my savings I am nudging away from being “total screwed” if I were to be unemployed right now.
As always: Keep your head up, your attitude positive, and keep moving forward!