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AG 019 Millennial Revolution: Kristy Shen and Bryce Leung. Interview
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http://www.alainguillot.com/millennial-revolution-kristy-shen-and-bryce-leung-interview/
Kristy Shen and Bryce Leung are two Canadians computer engineers who retired at age 31 and decided to go and travel the world.
Kristy and Bryce (K-B) broke tradition when they decided NOT to buy an expensive property in Toronto. Instead, they decided to rent, save their money and plan their escape from the drudgery of a 9-to-5, 45-years serfdom. With the money they saved, they managed to build a 7 figure portfolio which they used to leave the rat race and enjoy life while they are still young. Highlights from the interview
At the time of the interview, Kristy-Bryce (K-B) were in the Canary Islands (Spain) As Canadians, one of K-B goals is to live one whole year without seeing snow. While living in Toronto, they were under a lot of pressure from family and friends to buy a house, but Kristy noticed her colleagues were under a lot of stress at work just to keep up with the mortgage. At this point, K-B decided to rent and invest instead of buying a house. They decided to invest the money they were setting aside for the down payment of the house. They put their money into low-cost indexes. “I can get myself out of this cubicle jail and don’t have to die at my desk.” We spoke about the insanity of the real estate market in Toronto and how is a trap to keep people enslaved to their jobs. Once the mortgage contract is signed, there is very little possibility to get out. We spoke about how index investing is the best investment alternative for the average Canadian. Bryce learned about index investing by reading academic papers, books such as The Intelligent Investor by Benhamin Graham, blogs such as J. L. Collins. Tips for accumulating a sizable portfolio fast: 1. Pick a career that is a good return on investment. 2. Watch your cost of living. 3. Learn how to invest. Kristie attributes a great part of her success with growing up poor. We spoke about asset allocation. Check out K-B investment workshop. K-B got a contract to write a book. I would love to have another interview when the book comes out. Another book mentioned: New Order.
millennial Revolution’s Recommendations
Books:
The Simple Path to Wealth by J.L. Collins.
Blogs:
Mr. Money Mustache The Mad Fientis The Escape Artist
Podcasts:
Chose FI The Mad Fientis
60 episodes
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