Hi, I’m Bob Lai, a personal finance expert here at tawcan.com. I am based in beautiful Vancouver Canada.
Tawcan.com is a personal blog dedicated to chronicle my quest for joyful life and financial independence. Why joyful life and financial independence? I realized early on that having all the money in the world doesn’t mean anything unless you are happy and at peace with yourself. Hence, this blog focuses on both personal finance and creating joy and happiness in life.
A Little About Me
Growing up, money has always been a topic that my family and I discussed openly. Raised by frugal parents, I have learned the long-term benefits of being frugal and having your money working hard for you.
When I was younger, I did a lot of weird things to save money. I demonstrated my extreme frugality while working in Germany for 8 months. Despite the low monthly income, I managed to travel all over Europe. I learned a lot of things about myself and what I wanted to do in life from this experience.
I started investing when I was in my early 20s. Back then I didn’t have much investing knowledge, so I invested in mutual funds or stocks based on other people’s advice and hot tips. The returns never matched the fund performance reports that I received semi-annually and the stocks always performed poorly. Then I realized the high management expense fees (MERs) were eating into my returns – I had to pay the high MERs regardless of how the funds were performing! I wish I had known about these 10 lessons back then!
After my financial epiphany, I decided to take charge of my own finances. I started reading books on personal finance and investment topics to increase my knowledge. I also started my own self-managed dividend portfolio while focusing on being as tax efficient as possible.
As a dad to two young kids, I plan to teach them about personal finance and continue to openly discuss any money topics. My goal is to raise them to be financial responsible individuals.
My Plan For Financial Independence
Early retirement/Financial independence is not an unfamiliar concept to me as my dad retired in his early 50’s, one of my cousins retired before turning 40, another cousin reached financial independence in her mid-40’s but decided to continue working. Looking back, I really appreciate that my dad had the time to attend a lot of my school and sports functions. In the summer time, the whole family was able to go on several 2-months long cross-continental road trips. My love for travel was born.
To me, the term early retirement means sitting on the beach drinking pina colada or playing golf all day. Full leisure is not something I want to do, I would get bored pretty quickly. Rather, I am aiming to reach financial independence where our passive income exceeds our monthly expenses. When I am financially independent, I can continue to work because I choose to, not because I have to. This is the power of being financially independent.
Through frugality, dividend stock investing, and other passive income streams, I am targeting to reach financial independence in 2025 or earlier (in my early 40’s). My wife and I want to become financially independent to gain more freedom and choices in life. When financially independent, I plan to continue working. My ultimate dream is to one day travel around the world and live in different countries for extended periods of time to learn about the local culture and explore the surrounding area.
What Is Tawcan
Tawcan is a name I invented when I first started using the internet in the 90’s. It stands for Taiwanese Canadian. Since nobody uses this username, it just stuck with me ever since. 🙂
When I started this blog I simply wanted to share my knowledge on personal finance, investing, and life philosophy. I also wanted to chronicle my financial independence journey and keep myself accountable. After 2 years of blogging, I have managed to connect with many like-minded people and received many encouraging emails from readers. My mission for this blog is to show that financial independence is indeed possible and provide support and guidance to all my readers. As a millennial, I am here to share my knowledge but also to learn from my peers and readers.
Lear More About Me
- Bob Lai in the Media.
- My Life Philosophy
- 7 Facts about Me
- 5 More Facts about Me
- How & Why We Got Married 3 Times
- I am a part time professional photographer
- I co-authored two cookbooks
Get In Touch!
I would love to hear from you. Here are some ways to get a hold of me.
Disclaimer: All content posted on this blog represents my personal opinions and views. I am not a licensed investment advisor. I am also not a life coach. You should do your own research and consult with a professional before you make any decisions that may impact your life.