On what to do next

I am still earnings good amount of money because of my 3 jobs and I am wondering what to do next. If I should keep investing like I was doing, in mutual stocks or funds, or should I strat just putting money away in the ING Direct account that I have or should I finally start to pay off more seriously those student debts that I have.

I had been thinking of all this lately and I am still interest in investing anyway, at least a final try if I can say. I would like some Bank of Nova Scotia stocks. If the market can get low enough, good opportunities will show up, just like it's the case with Rogers Communication right now.

It might be in my interest to save also for my incoming RRSP of 2008 but there still time ahead to save 7 000$. I was thinking that the period of December 2008 to mid-March 2009 to save the money and before that, I could basically do whatever I want with my savings until December.

It's very difficult to see all my value going away like that and I just hope things will get better and start making money from those investments.

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.

Reading Derek Foster Books

I have been quite busy this weekend with work and it didn’t give me too much time to do what I really wanted to do: read Derek Foster two books I have bought from the Chapters located downtown on St-Catherine. It’s a good thing that it’s Eastern tomorrow, because I really need a brake and I really need to continue my reading.

It’s getting hard on me, since I finish work at midnight at my full-time job. And I had quite a few things to do as I didn’t receive the tax paper for ING Direct and for my Fidelity fund I have with Desjardins. As for ING, I find out that since I only made a few bucks with their interest, I won’t receive a tax paper. But the thing is I have that account with them since 2005 and since 2005, I didn’t declare any of the interest income I had received from them because they never send me a tax paper. But for this year, for a reason or another, I worried; I call, and give me the amount of the interest over the phone. So I don’t know what I going to do for 2005 and 2006, since I didn’t declare the interest gain. But does it really matter for less than 20$ per year of interest gain? I am all confused, as usual, and I don’t really need to do about it. Anyway, I am going to talk about it when processing with my taxes. So a lot is going on for me.

Unfortunately, my part-time job do not allow me to work both weekend days next week, which I don’t understand why, as they call be to come back to work. I was going to complain about this to them, but I decide to keep my mouth shut and keep them as backup. It’s really mean to them since I really was hoping to pay my complete rent with that money, but now, my hope is gone. I plan to take the day of tomorrow to apply to some part-time job. But at the same time, it’s not that a bad thing that I only work one day next week too, it gives me a little break. But at the same, I want a part-time on weekend really badly.

I was quite impress with my 2007 income, since I have earn more than 40 000$ in total. It’s quite nice, knowing than about 2 years ago, I barely hit the 25 000$. I really had a difficult time for work, as I once was in Ottawa, and before New Brunswick. I was quite happy to leave Ottawa, as I dislike their temporary contract with government agencies and their low pay. I wouldn’t like to work for the government for anything in the world. I get through a few contracts in Ottawa and I find them all extremely boring and poor work experience, as there was nothing much to do.

I want to post that final check to American Express to pay what I have left to pay, about 65$. So by the end of March 2008, I will be finally free of credit card debt. I continue to pay my regular expenses, with a Visa (I love Visa, it’s not like American Express, which seems to barely be accept where I go shopping). Only places I where able to pay with my American Express is at Wal-Mart and Reitmans. Otherwise, groceries store do not accept AE. But I like AE because of its Air Miles. And I don’t give a damn regarding that report that they didn’t want to translate in French. I just dislike living in Quebec sometime. I don’t like the mentality they have here and their law is too complicated. I just hope I will be able to do like Derek, retired early and move in another province, someplace near the sea. In a cool hot place in the Maritimes.

I really want to follow the strategy of Derek Foster to buy my first stocks and this time seems to be a good time to buy bank stocks. I begin to read The Lazy Investor, which I really like, as it’s describe step by step what you need to do to follow his strategy, which I won’t explain in much details here, as it’s his strategy. I wasn’t able to finish the book yet. And I have trouble to fully understand each steps. But anyway, I am going to study more deeply his books tomorrow. I also buy last week Stop Working, but I wasn’t able to begin the reading. Those two books are the first one I have buy since I graduated. It’s too bad I didn’t pay more attention to his work before because I could have done much better on reaching my first 50 000$. Tomorrow is Easter and it’s a good time to read, but as always, I have other thing to do. And it’s too bad stores are not open because I would had like to shop over for bargains; I need a new pair of jeans lol.

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.

A 4% savings account with RBC

It's seemed like RBC have it all! Good mutual funds, 10 000$ credit card and... high interest savings account!

If I will not use the 10 000 credit card I had with them, I will, instead, open a savings account. The interest is of 4%. On 9 459.13$, it's make a return of at least 378.37$. I can definitely add 378.37$ to my actual 28 704.03$ (in date of September 24, 2007). It' quite amazing that I have so much money. Having 28 000$ is like having a little fortune for myself.

But surprise, with that 378.37$, I can happily say that I have 29 082.40$... I don't have it yet, but hey, I have to motivate myself in a way in another, so I hope no one will mind if I change the actual 28 704.03$, for 29 082.40$... I am changing it right away... And I am forgiving the tax once again...

I learn that with PC, I could have a free bank account, but they don't offer it to Quebec residents, which is really too bad.

Same thing with ING Direct. ING have start offering mutual funds, but they only expose this offer in the English version of their Web site. It's because they do not sell mutual funds to Quebec residents. Being in Quebec is very frustrated for me because I pay more tax in my non RRSP investing and their are some good offers that I am missing.

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.

My Money News

Regular savings:

Bank account: 9 459.13$
ING Direct: 289.44$
TOTAL: 9 748.57$

Value of my non RRSP Mutual Funds:

RBC Global Resources fund: 1 050.61$
RBC U.S. Mid-Cap Equity Fund C$: 2 302.03$
RBC O'Shaughnessy Canadian Equity Fund: 3 418.03$
RBC O'Shaughnessy International Equity Fund: 971.87$
RBC O'Shaughnessy All-Canadian Equity Fund: 1 153.34$
Fonds Desjardins Fidelity Frontière Nord: 1 306.06$

TOTAL : 10 201.94$
Initial value: 9 300$
Total of money made in mutul funds: 901.94$

Money put in RRSP: 9 042.96$

TOTAL: 28 704.03$

PS: The money made in RRSP Placement is missing. I only provide the initial amount of money that has been invest.

Overview of my financial situation on date of August 13, 2007

Debts:
Student loans: 12 369.03$ at 8.750 %

Credit card debt:
AE: 2308.66$ at 7.99%
AE: 11.50$ at 18.50%
TD Credit line: 56.64$ at 10.50%
TD Visa: 19.58$ at ?
CIBC Visa: 419.47 at ?

Total credit cards debt: 2 815.85$

TOTAL DEBT: 15 184.88$

RRSP:
Total of money put in my RRSP so far: 9 042.96$

Non RRSP investments:
Money put in non RRSP investments: 6 100$

Savings:
ING Direct: 288.76$
Savings: 11 325.73$

Big total (RRSP + non RSP investments + savings - debts) in date of August 12, 2007:
26 757.45$ - 15 184.88$ = 11 572.57$

Almost there…. I am half away of my 50 000$ and I think I can easily get there. Why? Because I am a hard worker and I have really few expenses. In 3 months from now, in November 2007, I believe I will have a total of 33 000$ in cash flow. With all that money, should I pay my debt or invest the money in mutual funds?