Wealth Awesome Newsletter

Hey there,

I just finished reading a great book called Outlive: The Science and Art of Longevity by Peter Attia. Although it's a book about longevity, there were some important lessons about personal finances and money that were quite interesting to read.

Partway through his medical residency at John Hopkins, Dr. Attia decided to quit and become a consultant for McKinsey. He consulted for some of the largest banks in America, right before the 2008 financial crisis. Many of his clients lost billions of dollars.

He learned an important lesson about risk, where he quotes that "risk is not something to be avoided at all costs; rather, it's something we need to understand, analyze, and work with."

For both health and finances, understanding and working with risk is crucial for success. 

It made me think that there are many types of health. Not only is there your physical health, but there is also your mental health and financial health as well. Balancing all three is the tricky part, but I believe the key ingredient is to get educated in each area.

Interest rate increase update: The Bank of Canada raised rates again recently. I'm a bit annoyed, because I had bought $10,000 of the EQ Bank 1-year GIC when it was at 5.25%, and it's now increased to 5.50%, which is an excellent rate. You can apply for the 5.50% rate here.

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PolicyMe - Quick and Free Term Life insurance Quotes5.50% 1-Year GIC at EQ Bank

Regards,
Christopher Liew, CFA
Creator of Wealth Awesome
Website: Wealthawesome.com