Posted by Tim Stobbs on April 18, 2012
If you have been reading this blog for a while, you already likely know that I do change my mind about things and often shift plans around as needed. Basically in a nut shell, I’m flexible and I value that. As such, I made the decision to pay off my mortgage faster than I needed even if I could have made more money investing. I valued the flexibility of that plan since not having that payment allows me more options in life and it starting to look like that was a very good idea.
As an example, recently a family member dropped a bomb shell of news on us which involved her moving across the country to the east coast. So know we are in the odd position of having a place to stay and an excuse to take a vacation out east next summer instead of a few more years down the road after the kitchen renovation was complete. So right now we are wondering about planning a three or four week trip to explore New Brunswick, Nova Scotia, PEI and Newfoundland in 2013. This won’t be cheap and will consume a lot of our time, but since we can afford it along with our other plans like a kitchen renovation we will likely still do both.
This is merely an example of the flexibility that I desire so much in life. Without the obligation of debt I’m free to pursue these opportunities that come up in life. While the trip was a personal example, this also applies to investments or business ventures. After all, having cash handy is why I could buy some of my investments and end up with a abnormally high yield in my TFSA account (which is about 12% based on the original contribution amount).
So with others might regret opportunities that pass them by due to a lack of cash I’m starting to seize the day a bit more. While yes if I make too many of these personal choices, it might cost me some time on retirement date. I’m not worried, as I know you have to enjoy the journey just as much as the destination or why bother taking the trip?
So do you often seize opportunities in life? If not, what holds you back?