Jun 4, 2018
Bob Lai is the host of the website Tawcan.com. He’s a personal blogger
on a quest for happiness and financial independence.
Bob Lai investment philosophy focuses on dividend & ETF
investing, financial independence, early retirement, happiness,
frugality, and finding the right personal balance between saving
for the future and enjoying life today.
Highlights from the interview
- Bob was fortunate because his parents started teaching him
about investment since he was young.
- He started investing when he was in University.
- Graduated at the age of 24 with a degree in engineering.
- On 2011 he started devoting more time to investments.
- One of the early lessons Bob learned was to treat his credit
card as if it was a debit card and never to miss a payment.
- Credit cards give an enormous amount of credit to young people
to get them hooked on credit card debt. Some of those young people
have little or no financial education and the easily fall prey of
the credit card companies.
- Frugality is not being cheap, frugality is buying value.
- Don’t shy away from buying second-hand items.
- Don’t focus on getting the latest electronics.
- The main investment strategy is to buy stable dividend-paying
- In particular, bob like recognizable brand names, like the
Canadian banks and the Canadian telecom companies.
- He owns some U.S. stocks and some international stocks, but
there is tax withholding and currency transaction cost, so they are
- Bob likes to take advantage of the opportunities provided by
the Canadian government in regards to his Tax-Free Savings Account
and his Registered Retirement Savings plans. He likes to fill those
accounts to the limit to earn money without paying taxes in his
TFSA, and deferring the taxes until age 71 in his RRSP.
- We spoke about life as a blogger. A place where he gained early
exposure was on the website Budgets Are Sexy, ran my friend
Money. See the article
here. See the previous interview with J. Money
- We spoke about Bob’s money coaching services.
- How to get drunk for the less amount of money.
- Wearing the same clothes for several days is a good way to save
on clothing, on laundry and it’s a good way to pollute less the
- Bob has a side business as a