I couldn't resist, I HAD TOO update my portfolio this weekend after the fantastic performance of the TSX this past week. And this is how I now have a portfolio worth $176 294.55, with a now net worth of $95 036.25. We are getting close to a "mysecond50000.com"!!! It would be too awesome if I could only hit the 100k net worth by the end of 2013!!! Its getting really hot. Its looking pretty good isn't?
I like it when things are that easy. :)
I have now $18 630 left on my margin. That is more it take to pay off my $15k balance in credit lines at TD, so like usual, I proceed with transfers and have the credit lines magically both paid off. And tomorrow morning, the money will go back to the margin and following the market closure tomorrow, if my portfolio did ok, the money will go back on the 2 credit lines. This is what my life is about right now. Transfers, transfers and transfers. Could sound crazy at first, but I am saving a super huge amount in interest by doing so. My interest rate on my margin is 4.25% and its of 9% on my 10k credit line and 8.75% on my 5k credit line. Thank you TD Waterhouse.
Of course, the best way to save on interest would be to pay off the debt but hey, no one is perfect ok. I am not going to stop trading, investing, selling, buying anytime soon! Its been a while since I haven't invest in anything and the somewhat sexy cougar inside in me is in deep need of getting a bite of something! I AM STARVING. LOL. Anyway, I guess you get the idea. The idea would be to get something new in but I just don't know what it could be. I am just waiting for Susan Brunner to post about something as hot as me. I am waiting for Susan.
Posts
4 comments:
My interest rate? ZERO!!! I don't buy stocks on margin and pay credit card off every month (yes, I only have 1 credit card).
Live within your means and life is easy - AND I make pure, clean, money, which is then reinvested, which makes even more.
Sunny... so much good advice and bad advice thrown around here. What I really want to see for you is to get all your debt off of those lines of credits. They are bastards. The banks charging you and me such a high interest rate. And why? Because we don't own a house. Stop giving those bastards 9% interest for good! If your portfolio is up that high for a week, there's no need to fear the margin call. If they call you, you just transfer money in from your line of credit. But don't sweat until they call you. You don't need to do the daily transfer. And screw those bastards! 9%... #%@%*@*
Dividend girl, correct me if I am wrong, but by doing the daily transfer you are avoiding paying any interest no?
Good work. I envy your ability to take risks to make it happen.
Thank you for the advice, but no matter what, its REALLY important to keep a margin account in order. If not, the broker could FREEZE everything. And you certainly don't want that to happen to your lovely Dividend Girl don't you?
I do pay interest on the money, but only 4.75% - that is the interest rate of my margin account. I use my margin account to pay off my credit lines that are at higher interest - 9% and 8.75%.
At night I transfer the money over the credit lines and during the day, the money go back on the margin to make sure no shit is happening on the market...
But shit happen ALL the time. So the best of course, is: Do not invest using margin money AND do not use margin to pay off debt. In other words, don't do like I do, it will complicate your life, and add stress for nothing much, if not being more deeply into the game.
Post a Comment