And now it's Desjardins

After having many issues with TD Canada Trust, now came Caisse Desjardins. I had to update my investment profile with them just because of one mutual fund investment I have with them.

I was really frustrated when I received the letter they send me for that purpose because they told me that if I was not going to update my investor profile, my banking account other asset will be all frozen… No way am I going to invest ever with Desjardins. And this is even worst than what I had last time with TD Canada Trust. Like if I didn’t go through enough yet. Anyway, I place the call, update the stupid profile with them over the phone and promised myself there I would ever again purchase a mutual fund outside a broker account again. It is way too complicated and annoying. And I don’t know if they even realize it, but they are loosing me as an investor and a customer.

When I call to update my profile, I was on my two mornings off and I expect to had nothing to do, but like usual, my plans get disturb and I had to call about 3 times to get this done by an arrogant advisor who was really mean over the phone. Desjardins really suck, just like TD and I am just hoping to find a way out of hell once of these days.

Getting ready.... to do my taxes

I contact Caisse Desjardins a couple of days go regarding a problem I had. I didn't receive a tax paper, for Fidelity Frontiere Nord, for the simple and good reason that, according to them, they were not in the obligation to provide one for a reason that I still don't fully understand. But the good news is that now that I have all the papers in hand to proceed with the taxes.

I wanted to do my taxes by myself, but knowing how bad I am at calculating some time, I might just give this job to a professional. I have dozens of papers: from jobs, non RRSP investments, RRSP investments, bank savings account. I also have to declare something like 3 000$ as a freelancer, etc... The only thing I had left to do is to find myself someone who will proceed for me. And I just hope it won't cost me too much.

I have this, and I still have that search for a part-time job that continues. I would like to be able to do those taxes first, and after the taxes, and after open the eServices thing at TD Waterhouse. I could actually do the application online since I already have investments with TD, but as usual, I feel completely lost and I want to make sure I enroll to the right thing, as suggest in the Lazy Investor. So I might want to try to see if I can do this in person instead. I don't have that much to do, but when you work 50 hours weekly, time go past really quickly and I find it difficult to do everything, in reasonable time.

I like the all concept of "lazy" thing because, as it shows in the cover, it's a "no-thinking strategy" and no need to think or to work hard at it, because I already work hard enough. I am just way too curious about the "share certificate". I can't wait to have my first share certificate in hands.

Another week at work

I have receive my pay today, another 1 000$ in my pockets. Today, the weather was so beautiful, I would have spend all day walking around and stuff but I have too much to do this morning.

I had applied on today for 2 part-time jobs and I received a response for one of them. I wasn't able to call back since I notice I had received a call around 4h30 this afternoon and I was at work at that time. So I will call tomorrow morning. I just hope there will be something for me for Saturdays and Sundays and maybe even a few mornings per week. I would like that. Because the part-time job I have right now is not very good, I am only working there this Saturday.

I notice price of units of my mutual funds want up again. I just hope it will continue like that for a while. I would like to recover from my lost. I didn't calculate my overall value for a long time and I am waiting for the good time.

In the overall, things are not going so bad, only thing is that I haven't did my taxes yet. I have one problem to resolve regarding a mutual fund, non RRSP investment I have with Desjardins. The problem is the following: I didn't receive any tax paper for the Desjardins Fidelity True North ® Fund. I have initially invest 1000$ in 2005. For 2007, I didn't receive a tax paper. So I call ACCES-D. I talk to a representative that told me that if the fund had produced an income less than 150$, than, they (Desjardins) don't produce the appropriate tax paper.

And how come?

I am a small investor, I am paying high fees for that Desjardins Fidelity True North Fund and I should receive the help I need in order to be able to fill the forms for my taxes properly. Or at least be able to make it done by someone else with the appropriate information. The problem is that the representative couldn't (or wouldn't, I don't know) provide me the information. The representative told me to call my Caisse Desjardins.

Which I did. But at the Caisse Desjardins, they told me who was kind of in-charge of my field at their Caisse. I call yesterday, left a message to the one I was supposed to talk too and in date of today, still no answer. How come an institution like Desjardins doesn't provide help to their small investors. How come they don't provide a proper tax paper?

At some point, I dislike RBC service (for a reason I didn't write about yet, but I will soon), TD (see previous post... outch) and now, it's Desjardins.

Now than ever, it's time to buy stock, following whatever strategy, and be no more under the authority of some whatever so call financial institution and declare my financial institution free freedom for the rest of my life. No more credit card debt, no more bank stupid mutual funds. JUST NO MORE.

It's going to be quite something for the tax, but I am going to do like Brian Mulroney, I won't declare my income. So it's not going to be really that of a problem next year. My hard time is over.

Of course I am not thinking a word of what I am saying.

Tomorrow, I will call ACCES-D, and ask to speak to a supervisor and drive everyone crazy with what might be an unusual request for them.

When I keep thinking about it, there might be plenty of small investors who, like me, had invest in non RRSP mutual funds. For those, when no paper is given, what are we supposed to do? Am I suppose to do like what I did for my ING Direct acount in 2005 and 2006, not to declare the income because no one ever send me a tax paper, as previously explain...

It is so complicate and I am so complicate myself.

How to purchase stocks

I don’t know. I am ignorant on a lot of subject and especially finance, even if I have been doing kind of ok for now. I really don’t know how to proceed to buy stocks and what’s the safest and cheapest way to proceed. I really want to buy some of those Visa stocks and I just don’t know how to make it happen.

And here am I, browsing the Web, since I cannot sleep, just thinking on how I can purchases those Visa stocks. I might post a topic in Canadian Business and as usual, I going to eat a …… of ………… and I will be rude. Once again. Sometimes, I just like the way things are for me.

To change of topic, Caisse Desjardins were kind enough to reply to the email I send them about if my money was protected with them…. Of course the money is protected. I don’t know exactly what’s going on that day. Some women get bad temper, for me, around that time, I getting scare about loosing my money. I don’t know………

The fear is a little bit less now. But I can’t realize sometimes on how much I have money and I am currently making 650$ weekly after taxes and the only thing I do with that money is saving it and investing. It’s just not making any sense.

Are Caisses Desjardins covered by the CDIC?

According to the CDIC Web site: “Some financial institutions that take deposits are NOT members of CDIC—for example, credit unions and caisses populaires, Canadian branches of foreign banks and some Canadian chartered banks. Your deposits with credit unions and caisses populaires may be covered by provincial deposit insurance programs. Canadian branches of foreign banks, and those Canadian chartered banks that are not CDIC members are required by law to inform you that they are not CDIC members and that your savings at such banks are not insured.”

So, are “Caisses populaires” are covered or not by the CDIC? My savings are with Desjardins, and I wonder if the money I have in my bank account is insured or not. I ask the question via email to Desjardins. I just hope to receive a response. If they response “NO”, I just don’t know what I am going to do.

In the list of institutions covered by the CDIC, I notice “Desjardins Trust Inc.”, but not “Caisses populaires Desjardins”.

Why does it have to be so complicate? :))))))))))))))))

RRSP nightmare

I just get through my papers for 2007 tax. I was scared that I put too much in RRSP.... The maximum I was able to put in my RRSP was 5 712$ for 2007....... I almost stop breathing yesterday when I went to get my mails.... I get a receipt for 2007 RRSP coming from London Life. I totally forgot that my late employer was putting money in my RRSP. I was with that employer until June 2007... Anyway, I totally forget about that one.

What I had in mind for my RRSP was to put 5 000$ in it. And I taught that I had put that about in so far... So when came that letter yesterday of 1 137.78$ that had been put from my late employer in my 2007 RRSP, I was shocked and I was really scared that I pass out the 5 712$ that I am eligible to put in for 2007.

I calculate and calculate again......

London Life: 1 137.78$
Canada Trust: 1 500$
CIBC: 1 000$
RBC: 1 500$
Desjardins: 500$

TOTAL: 5 637.78$

It was a short one... Since the advisors of the bank where I went to give my RRSP papers immediately after doing the transaction, if it's not of Caisse Desjardins, because I don't have an account in one of Montreal Desjardins Bank, I believe I am ok for this year, but it was a short one....... I was so sure that I already put in 5 000$ in my 2007 RRSP for whatever reason... But I know I only put 500$ at Desjardins because I can see it online, via my bank account.

If I would have passed out the 5 712$, I don't know what I would have done... Anyway, enough is enough. I have been working so hard, I don't even remember how much I have put where. In previous post, I was saying that it was 2 500$ that I had invested, in 2 separate times... I just corrected those posts. First time it was 2 500$, second time less..... But I don't want to calculate, I mess up so much around, it's hilarious.

I am so bad with the numbers and I am so tired of the 2007 taxes thing. I can wait it will be all done. I was off yesterday and I took time to place my papers in order so it will be easier when it will come time to see someone to do my taxes for me.

But I didn't receive all my taxes paper. I am missing 2 from employers, one from government because I receive a little tiny 300$ and something for the unemployed insurance and one from Desjardins, for the mutual fund I have, non RRSP. So I cannot do anything now. I also have to remember my banks paper from ING Direct and Desjardins.... what a nightmare lol.... I was all confused yesterday and I had one of those hard times...

I can't imagine what is like to be a millionaire and doing taxes. I already have so many problems to get through my little life the way it is right now. In my fifty, I am going to have a lot of fun. The problem will be that there will be money under my name all over the place, and if it's difficult now, what it will be in about 30 years... lol

Anyway, for good news, I receive the paper coming from RBC regarding the non RRSP mutual funds I have with them. I made around 700$ with those mutual funds, which is really good, but unfortunately, I just lost that money in January, with the crash we had.... The only place I didn't lost money is with a placement I did in 2005, at Desjardins, with my super Fidelity Frontière Nord.

Now that I am completely done with RRSP and that things don't look to good regarding mutual funds, I prefer to wait a little before investing again and I prefer to get off credit card debt, like I previously post about. Since I have more than 8 000$ in regular savings, plus non RRSP investments, the best thing I can do for now is pay out debt.

I receive by pay check today after midnight and I really hope to be able to get the famous 1 000$ pay check after taxes, for 2 weeks of work. I already pay all my expenses for February, and I was planning to give the totality of the pay check to pay off that credit card debt of mine. On that 2 000$ and something, I pay 17$ in interest, which irritated me. And knowing I am currently making no money from my investments right now, the best thing to do is to pay off that debts I believe, especially the credit card debt.

I didn't find a second job yet. I plan to get one, but I didn't do major searches. I am at a cafe right now and I am searching for job. I get some kind of tired and confused for now so I plan to search more seriously at the beginning of March, maybe earlier, but it's difficult for me at this time.

Next 1 500$ investment for RRSP

I am now all set up for my RRSP. I only begin at 15h tomorrow, so I hope I will be able to see someone tomorrow morning for at least one of my two plans. I look around most of my afternoon for my RRSP. I had another 1 500$ to invest…

With Caisse Desjardins, I decide to invest 500$ in the Natural Resource Guaranteed Investment. It’s a 5 years GIC. It will probably provide me a good return.

The other 1 500$ will be with TD:

500$: GIC Plus (according to TD, the “return linked to the performance of the S&P/TSX 60”.

1 000$ between those mutual funds:

TD Entertainment & Communications
11% since inspection

TD U.S. Mid-Cap Growth ($US)
8.8% since inspection

TD Latin American Growth ($US)
24.1% since inspection

TD Precious Metals
13.9% since inspection

TD Dividend Growth
11.4% since inspection

TD Monthly Income
10% since inspection

TD Canadian Bond
8% since inspection

TD Emerging Markets
9.3% since inspection

TD Energy
11% since inspection

What’s fun at TD, is that the minimum allowed per funds, when investment is RRSP, it’s 100$. So I probably be able to invest in all of the above, I just need a genius as advisor who will be able to equilibrate the hole thing with the standard of the Authority. After, I will be finally done with my 2007 RRSP.

I didn't lost that much after all.........

I finally had the courage to calculate my total income and investment value in date of January 28, 2008. I haven't calculated my total value since December for my investments. Since I am off today and I have nothing to do since I didn't find a second job. So I proceed and I am quite surprise, I didn't lost that much money with the major crash we had.

I now have in my possession 32 260.73$. I am waiting for my pay this Wednesday after midnight. I should have around 1 000$. I did a bunch of extra hours, since I currently have no place else to work. So we can say 33 260.73$...

I cheat on my "no expense" goal for last week and this week, but that doesn't really matter. My total expenses for the month of January are only of 1 160.65$. If I could make 1 000$ after taxes every 2 weeks, I will be good and I will keep the same job for quite a while. It's almost 1 000$ per month that I could put in savings.

I still have 2 500$ to invest for my RRSP, so I hope I will be able to do that tomorrow, at Caisse Desjardins or TD, I don't know. I am quite tired and I just hope it will turn for the best.

I have 9 459.13$ sleeping in my bank account

I now, it's awful, I have thousands and thousands of dollars who are currently inactive. It's very bad, knowing that the money, put at 4.75% could give me 463.06$. But the real question that I have been asking myself is: how I was able to save so much! I am quite impress I have to say. And I am quite tired too. I have problems to stay awake starting at 11h in the morning. And the coffee at the coffee machine is not great and there's no place to buy coffee around. Its bushes all over the place. I have free transportation to get to the job.

I am quite busy and I will be until December. Until there, I will have to continue to work at 2 jobs at the same time, doing 33 hours at one and 37.5 hours at he other one. It's not as bad as it look since I can sleep in Sunday morning. It's just that I do not have too much time to deal with other things, like, for example, looking for an account that will keep my money save and will provide a high interest. I want to be able to have access to the money at any time, whenever I need it. And doing my laundry and my grocery can be quite challenging, especially when I decide to sleep in on Sunday. I begin to work at 12 on Sunday. Anyway, the work schedule is crazy and I am quite excited about my mutual funds. I made over 900$ by doing nothing except investing. I just knew that my mutual funds would get better. I just hate the summer that we had.

I have a ING account, but I don't want to use it. So I keep waiting, and I keep loosing money. I am waiting to see what RBC will have to offer when I will open an account with them and after that, I will see.

It's still easier to give a call to Caisse Desjardins and ask for the rate they have for one of those placement that you can have access to your money at anytime. Last time, I had a 2.5% with Desjardins and I could have access to my money at anytime. I just needed to give another call so the interest and the money go back in my regular account to access to the money.

As you can see, I am still a beginner and I have too much to do with my little money.