Kent Chin is an educated family man who lives in Markham, Ontario. He is passionate about all things fitness, martial arts, cooking, entertainment, and finance. Kent grew up in a working-class family and left home at an early age, determined to build a better life for himself. He pursued higher education at Toronto Metropolitan University and Queen’s University, earning a BSc in Health Sciences, an MBA, and a Master of Finance. Now, Kent considers himself a serious investor in crypto and stocks.
In this interview, Kent discusses his path to financial independence and offers personal finance & budgeting tips for beginners.
Q: How did your childhood experiences contribute to your financial success today?
Kent Chin: I grew up in a poor part of Toronto. My parents didn’t have a lot of money, and the lack of financial stability affected my health and my overall quality of life. When I was old enough to get a job, I saved enough money to move out and create a better life for myself. I started taking my money more seriously when I was living on my own, learning how to budget for essentials and spend more wisely on non-essentials. Eventually, I wanted to learn more about finance, so I enrolled in university and earned a Master’s in Finance.
Q: What changes did you make while living on your own to build better financial habits?
Kent Chin: Every month, I would write down what my estimated expenses would be for essentials, like rent, utilities, and groceries. From there, I would figure out how much I had left to put into my savings account and set a limit for non-essential spending. I stopped getting takeout and started cooking for myself more. I made coffee at home instead of buying it every day. I took public transportation instead of driving. These habits might seem small, but when you think about it, every dollar spent on takeout food, coffee, or gas adds up. Taking the money I would normally spend on those things and putting it into a savings account really made a difference. As time went on and I started making more money, I increased my savings contributions a little more.
Q: How do you approach investing in crypto and stocks as a serious investor?
Kent Chin: My investment strategy for crypto and stocks is all about doing research and playing the long game. When it comes to stocks, I really dig into a company’s financials, who’s running it, how they stack up against competitors, and where they’re headed for growth. For crypto, I focus on really getting the tech, what it’s actually used for, and the community around it, while also keeping an eye on market shifts and new regulations. I’m big on diversifying across both types of investments to make sure I don’t limit myself, and I regularly tweak my portfolio to keep things balanced. It’s a constant learning process, and I’m always aiming to make smart, informed decisions.
Q: How do you set financial goals, and what role do short-term versus long-term goals play in your strategy?
Kent Chin: I divide my financial goals into short-term (emergency fund, debt, quick savings) and long-term (retirement, education, home). Short-term goals build momentum and act as stepping stones, like an emergency fund protecting long-term retirement savings. I try to balance immediate needs with future growth through consistent contributions and investments, regularly reviewing and adjusting my plans to stay on track. My approach ensures that I have immediate financial security and can reach bigger goals in the future.
Q: What is one piece of advice you would give to someone just starting their path toward financial independence?
Kent Chin: Start by creating a clear budget and sticking to it. Understand where every dollar goes—track your income and all your expenses, both essential and non-essential. This will help you understand how to save and reduce expenses. After you are aware of your habits, try to create an emergency fund. The emergency fund is worth the effort because it cushions you and stops you from incurring debt when unexpected expenses arise. Next, learn the basics of investing and invest a small amount occasionally. Compound interest is your best friend in the long run! Financial freedom is a journey, not a sprint, so be patient, consistent, and don’t be afraid to learn as you go.
