SOS 2008 RRSP

Yesterday, I finish (again!) early at my morning job, so I call RBC to transfer the mutual funds I transfer too quickly into the free of tax savings account into RRSP. And it was quitted of a challenge. At first, I call and ask if they could transfer the mutual funds I had in the free of tax account outside of it, so after, I could just visit a financial advisor who could had just transferred everything into RRSP and printed out the taxes paper I desperately need. I got the entire plan in my head on how it should have been done, but it didn’t exactly turn out the way I wanted!! lol!! The person I first talk to over the phone explain to me that they would be able to do all the transactions needed onsite. So I ask if someone was available for that afternoon. I had an appointment an hour later with a financial advisor. Until there, everything was working find. Until I actually meet the financial advisor lol!!!

It didn’t turn out the way I wanted. The financial advisor didn’t agree with the move, from moving the mutual funds out of the free of tax account into RRSP. She wanted me to take a RRSP loan at 4.75% with no payment for the first 2 months or something like that.

But hey, where in the world was I going to take the money for a loan? I already have 15 000$ or so in debts right now. Anyway, as I saw she just didn’t want to follow my plan, I apologize to her, saying I had to think about it. But the worst part was when she actually tell me that investing in mutual funds was for long term investment (like am I looking that dumb) and explain I should definitely take a loan and invest in… no mutual funds (that was the worst part was to come) but in MONEY MARKET FUNDS. And I the end, forget about making money through my investments!!! What a shame!

BUT WHY DID SHE WANT ME TO INVEST IN MONEY MARKET FUNDS?

I didn’t ask. I didn’t want to destroy her self-esteem forever.

She gave me a card that I throw away in a garbage can. Before that, she told me she would give me a call to see if I was interested. But I told her not too bother, that I was going to call her (lol) and that anyway, the number I had was just paging number.

Immediately after, I call RBC. And over the phone I explain what I wanted without talking about the meting I just had and without talking about the RRSP loan. But the agent I talk too also suggest me a RRSP loan him too! I was liked what the hell is going on?

RBC is too sell oriented and a bank should be there to help out small investor and it’s a real shame that having to deal with the stupidest financial advisors of all time and ever of my life I will invest through a financial institution. With a brokerage account – no investor profile, no « update » needed (because if I do not update, everything get freeze and out of control).

Anyway, at the end, I explain to the agent that I didn’t have any money left for new investment this year and that I already had a student loan. It was like a desperate situation. It was like no one was willing to help me! I am the one who’s working 80 hours per week for the money and things are going to be one the way I want them! And it did!

But he finally agrees to help me out. But before that, he put me on hold, and I wait and wait and than, I learn the happy news, it was going to be ok; he will transfer everything into RRSP.

But there again (lol!!), I run out of luck.

He calls me in the evening around 8PM because one of the funds I have is now close and it couldn’t be move into RRSP. Financial system is so suck, the only thing it make me wanna do is to run away and never look back. For the rest, it was ok, but the other funds had been put into RRSP. Finally.

Financial advisors really suck and they are just like sale persons and I really dislike financial advisors. I try many times to deal with them, but each time, it didn’t work out too well, as they wanted to keep too much control on my assets. Like I don’t have too much money here and all the decisions regarding my money will be mines. All mines, for the better or the worst.

Dealing with bank, financial advisor and mutual funds, but especially mutual funds is complicated. Its seem like I couldn’t just get the thing transfer like that. They had to sell, and purchase back to transform it into RRSP. Or something like that. But I do not really want to learn more about it. What a nightmare. Or what a nightmare am I.

Next step, is CIBC and Desjardins. I am basically taking everything I have out of RRSP (as mutual funds) and turning them into RRSP. It’s taking a lot of my time and I find taxes, RRSP and financial advisors very annoying and frustrating.

I now understand how it’s all work

And I am very excited and I need more cash! Because I want to Stop working right now! But in 2 hours from now, I will be back at work.

At the time I write this, I taught that PGF.UN was provided a 2.04$ annual dividend…. I was so wrong, but I don’t remember I get the 2.04$ info from where. No better source than the Web site of the company itself… I visited PGF.UN Web site… and oh surprise, the annual dividend is being set at 2.70$... Knowing I purchase last week 300 stocks, I will earn, in 2009, the income of 810$ of that investment alone… WOW!

It took me times and 3 DF books to understand but I finally get it, purchasing stocks is the way out. And it’s part of the reason why it didn’t take me too long before purchasing PGF.UN. For a 9.70$ per stocks, I received 2.70$. Which is around 21% of the initial value of 9.70$ in return.

I read here and there that there was going to have a dividend cut around this stocks. But still, I do not mind and I do not worry too much about it. On this date, the PGF.UN Web site still advertise 2.70$ in annual dividend.

I just keep thinking about it and went with this idea:

I do not make any big expenses and usually, my expenses for a month are around 1 200$, up to 1 500$ when I am in a shopping mood. So lets say I am need of a total income of 15 000$ per year. PGF pay 2.70$ per share.

If I calculate: 15 000$ ⁄2.70$ = 5 556 stocks. Which mean I need 5 556 stocks of PGF.UN to reach an income of 15 000$ per year. It’s about all I need for my little living.

Right now, PGF is at 9.81$.

5 556 x 9.81$ = 54 504.36$

All I need is the amount of 54 504.36$ and invest in all in PGF.UN.

But of course, I cannot just invest in a one stock. But….. It’s quite tempting to do so! Especially with PGF.UN.

My goal is not to become rich, it’s just to make my life easier and, if not retired early, just make a more comfortable living and move in something that’s a bit bigger than a 1 and a half apartment lol. And after that, who care about the market volability?

On my every day life

As I just get up early to go to work this morning for nothing. There was no work for me and I had been send back home. I am getting sick of this situation as sometime there’s work and some time not. It’s getting really frustrating. But it was part of my fault, as I didn’t call the previous evening to see if there was work for the next morning. I didn’t call because I taught there was enough work. Yesterday, I did my full shift, 4.5 hours, and everything went fine. Anyway, it’s a chance I can write about it, its provide at least a small release. I call it therapeutic blogging.

The trick with having multiple jobs is to remain calm when critical situation like this one happen. But I feel I deserve better treatment. In the morning, I am free from 8-9am until 3pm the latest. I can barely work 22.5 hours per week at the morning job I have right now and it’s been going on like this for several weeks now. And not only for me, for all other employees too.

I do not really want to get involve into job searching as I dislike searching for job and at a certain point, I just gave up, get into 3 jobs and that’s all. But now the plan is getting hurt a bit because one of them is just not working out correctly. I give myself until the end of the week to see what I will do about it. For now, I enjoy my free morning. But I am just not using the time correctly as I had my RRSP to look at and other. At this time, the situation is not critical. Last week, I work around 19 hours or so, and earn 200$. I just want to earn extra cash at this time.

I just take a quick look at my stocks and right now, PGF.UN is up to 9.83$, FTS is at 24.27$, SSI remain at 4$, which is better, and TIM down to 4.29$, BNS up at 31.52$, MX up at 12.04$, my funny BN down at 0.02 cents… and I could continue watching like this all day long, but it wouldn’t make any difference.

I had a friendly talk, if I can call with a colleague of mine. It was getting really quiet and than he begins to ask me why I was working at this place, the salary is low; I am bilingual (!!) and so on. The funny part came when he told me that I was the only one around who was a Quebecker and than, I told him proudly that I wasn’t a Quebecker, that I am from New Brunswick and so on… I didn’t go through the overall explanations, but part of the reason I have that night shift because its allow me to have a morning and beginning of the afternoon other job. And its also allow me to wok at another place during the weekend. But of course, I didn’t go through all this with him.

And another part of the reason why I remain like this is that before I had a well paying job, back in somewhere 2006, I was around 20$ per hour, but too much was taking away from the pay check – part of it was for the wealth benefits we were receiving and they were also taking money for my RRSP. That year, for the taxes, I was all mess up and really dislike the initiative, as I almost end up investing too much in my RRSP. Anyway, at the end, I was only touching 535$ after taxes per week on my pay check and I couldn’t take any other job with that one because it was too much. It’s after that job experience that I begin to make big money and invest in stocks and so on. And I am happily ever after and never regret the move.

Why Crestsreet Alternative Energy Fund is such a pain?

I invest 1 000$ in the Crestsreet Alternative Energy Fund back on January 5th over the phone with my broker. I taught everything was fine… until I consult my account online. Than, on the 9th, at the time I purchase some PGF stocks, the order had not been executed. I could clearly see that the order had been placed as I wanted, but the problem was that the order haven’t been executed and it date of today, the issue is still the same, even if I had been told by TD that the order would had been executed by Friday (of the 9th). I was quitted disappointed because when I proceed to the purchase over the phone on the 5th of January, I wasn’t told anything regarding the time of the process.

TD Waterhouse really suck and those people do not give a damn about small investors. If I would had knows it would had take so much time, I would probably not invest in the Crestsreet Alternative Energy. Instead, I would have purchased an extra 100 stocks of PGF.UN, which would had made a total of 400 stocks at an annual dividend of 2.04$...

Last week that just pass, I do not what happen to me, I just borrow almost 5 000$ on my credit lign and I invest in that miserable mutual fund and all the rest in PGF.UN. I really wanted to make my move. I was fascinated by Crestsreet Alternative Energy and I was totally enthusiast by the 2.04$ annual dividend of Pengrowth Energy.

And just like a fellow reader wrote to me previously, there’s never been a better time to invest, and I really believe it’s true. My only regret is not having enough money to invest. I do not worry too much of the money I took form my credit line.

I now have a tax-free savings account

I was quite busy this week as I try to figure out a plan to make things better for me. I realize – but too lately, that I have invested too much in mutual funds. But I believe it was something I had to figure out by myself. It took be time and several reading if DF books. However, I do not regret any attends I made.

I finally read Money for Nothing of DF. At first, the reading was difficult, but I bring the book at work with me to read over again and some guy notice I was reading and come to me, asking what I was reading. At work, it’s aloud to read a book when do not received calls, but we are not allowed to magazines. And recently, we are not receiving as much calls as usual. I just hope I won’t loose my job.

Anyway, I show him the book and he asked me if I had money invested in stocks. I told him that no, that I was only reading the book for fun, telling him that the author was pretty good and that he had self-published 2 other one before this one and so on. I never told anyone about my investments I do not plan to do so. No one knows about my 50 000$. Let say I do not talk to others about my money. I prefer not too and its part of the reason why I prefer to blog anonymously and just to have fun with it by my own. And I have to say, I would look pretty stupid if I would go out about it, as my 3 jobs pay, 10.68$, 12$ and 10$ per hour.

Earlier this week, I open a tax-free savings account at RBC and I transfer some of my mutual funds in there. I was quite happy to learn that it’s possible to reinvest the amount of money I could withdraw from the savings account. It’s a huge benefit. But knowing how much I am paying in taxes, I really needed something like this at this time as my overall earnings before taxes make it around 43 000$. It’s not that much, but for me, it’s a lot. And it might be a lot for the government too as I expect to be paying extra taxes on this salary, unless I invest in my 2008 RRSP.

As usual, I did not invest in a month-to-month basis in my RRSP. With my terrible job situation, I prefer, as always, to wait at the beginning of the New Year. And with all the investments I made this year, I do not have extra money to invest in my RRSP. At this point, I realized I might have done my move too quick in the savings account. The issue being that if I do not invest the max of my limit for the 2008 RRSP, I will probably have to pay extra in taxes. And I currently do not have a penny left to pay on taxes.

I consider moving some of my non RRSP mutual funds into my 2008 RRSP.

May 2009 be the year

I had been searching lately for a mutual fund or stock that would had help me gain money – knowing that I had lost so much so far. That’s part of the reason why I purchase Fortis. And its part of the reason why I purchase Dereck Foster third book just today actually.

Today I was off from my 2 jobs and I really enjoy the stay. I sleep in and I went downtown. Some stores were open until 9pm. It was amazing.

On my way, I went to Chapter. Read on some magazines about Angelina Jolie, Britney Spears and so on and, it wasn’t plan from me, I went on the upper floors and there, I saw it, it was it, the third book of Dereck Foster. So I told myself, why not? And there you go, I went home with the book. At first, I read a couple of pages, and I was like gees, he is repeating himself from his previous books, talking about mutual funds and their fees and blabla… But than, I begin to read some new content, something about options… There, I decide to purchase the book, as I felt there was something new right there. And I felt that it was important to purchase and not just to read directly on the spot. One of the reason why of this is that everyone deserve to earn money from what they want to share with others and second, I couldn’t understand at first what it was all about so I decide to buy to study the book at home… oh lol! And I didn’t read it yet.

In the meantime, I am just looking for easy alternative to make money. And I am really sucked at investing. I lost around 15 000$ if not more. But anyway, I just continue doing my way. And there it comes, the Creststreet Alternative Energy Fund (CAM400). The fund had provided a very huge benefit of 21.33% within the last 3 months. This is the kind of return I am looking for. I first did a search on MorningStar. Only the Horizons BetaPro catch my eyes, but those are closes now, from what I understand. After what I go through La Presse Affaires. And there I read Creststreet Alternative Energy Fund. The minimum investment is of 1 000$, which is perfect for me. I read in Canadian Business about the fund and for some people, the fund is kind of suspicious. And no one seems to know about the fund fees. And someone told that the fund had provided 1% in return per week…. For 1 000$, I have nothing to loose. And after loosing so much, I decide to give it a try. My next purchase, on Monday 5th will be Creststreet Alternative Energy Fund.

I am now a little engineer

Yesterday, on Christmas evening, I went to an Internet cafe I am use to go, and I test my Wireless connection. It’s now working perfectly well after proceeding with another scan of my computer. I now have Avast as anti-virus. After the scan, I disable the drivers for the Wireless connection. From there, I taught that if I had mess up, I would had purchased a new laptop on Boxing Day… But it’s seem like God might be from my side…

After the drivers were disable I restart the computer and… than, a miracle happen, on Christmas Day, something happen… I got connect on the Wireless connection of the Cafe, which status was Excellent... Just to make sure it wasn’t just a one time deal, I restart my computer, and…. I was still able to connect…. I am really happy about this because I don’t really have enough to cover the cost of a new laptop. I am just having problem to realize that I make this all by myself. Not like I am working on my laptop every day, I just connect to the Internet a few times a week, and than go online for a couple of hours, that enough for me. And its part of the reason why I do not have Internet at home. I just don’t want to pay for something I barely use.

Before I went to the Cafe, I withdraw some money from my banking account, since I was running out of cash, and oh my god, I never smell that kind of smell before, there was a homeless and it was smelling very badly. He was lying somewhere in the back. There’s always some homeless at that place. But I never got any trouble. I thing they are just looking for a place warm for the night. And knowing there’s no bed for all homeless living in Montreal, I don’t mind seeing some when I withdraw money, as long I am not being attack.

Yesterday, I calculated my overall earning, and I have less than ever, not even 30 000$ now. But I believe market will react positively to Barack Obama after January 20 and I should than have at least 35 000$. Market went down really badly. And what’s happening is terrible.

And its part of the reason why I am looking for the next best thing, the product that will make me or believe that I am rich, and I think I have find it. More to come… :)

On Christmas Eve

Its Christmas and I just arrived from work. Outside, it’s raining, and water got inside my boots and I am really thinking on purchasing a new pair on Boxing Day. My laptop got infected by several viruses and I have been dealing with the problem for several days now. On Boxing Day, Staples have a special on Norton 360 and, before even getting new pair of boots; I want to purchase a good anti-virus. I also have an eye on a mini-laptop, which is at 299$. At the end, it’s all make a big deal of money. I still have something to pay on my credit line since I purchase not those long ago Fortis stocks. I am really into that stocks thing now and nothing make me happier than seeing my portfolio grow, even if it’s lost half its value. But I am still on in and I believe I will continue like that for a while, until I get tired of loosing money like crazy.

The major problem is that I begin to purchase stocks just a couple of months ago. And since we are in the middle of what so ever recession, I just follow the flow, just like other, I am loosing money.

Another problem is that I am getting addictive and it’s a good thing I can move funds from my credit line to my brokerage account. I know it wasn’t made to help me out – but just to make money from small investor like me, but I really enjoy it and so far, the way I have handle it is that as soon as all the amount due on the credit line being paid off, I take another loan to purchase other stocks and so on. And if I keep investing like this, I might no be able to see positive result anytime soon, because markets are so volatile. It’s exhausting me. And I wanted my 50 000$ so hard, it’s so silly and funny at the same time. Sometimes, I take a look at my blog and I laugh at myself because it’s just make no sense and its hilarious, the way its stand out, My first 50 000$, in a so basic English. So innocence and naive, I just love it. And I prefer to blog in English just for the fun of it.

I might have talk about it earlier, but my next projects are, opening a tax-free account at RBC and move in some of my mutual funds I already have with them. I just hope such move is possible. I really enjoy the fact that yearly, an average of 10 000$ per year (5 000$ into the tax free account and the other half in RRSP) can grow away from taxes.

Second project is being to put money in my RRSP because I know for sure that if not I will probably have to pay taxes and I won’t let that happen. I just worried where I am going to take the money from. Like right now I only have enough to cover the expenses of January. Next paycheck in January will all go on the credit line and so on. And I just keep going like that over and over again. But is there anything else I love most than money?

Tomorrow, I am off and I am quite happy. I have been spending a lot of time working on my computer. Next step for me will be to test it into a cafe. My problem being I cannot connect to Wireless which status is Excellent. I can only connect when status is Low or Very low. I have been reading on the topic and I find the word of virus very interesting. But at the same time, I am kind of amused of myself since I have been going on Wireless for so long without the appropriate protection. It’s just like having sex with a complete stranger without any protection…

Anyway, let say I can pretty much handle any kind of situation. And reaching the goal of a laptop without virus had amused me as much as working at reaching my first 50 000$.

And I had been thinking even deeper, about my situation, having to work at 3 jobs just for the money. But I am at the point that I would like to find better paying jobs and it might be possible. It won’t be that of a challenge to find a job paying at least 15$ per hour. But at the same time, I don’t know if I should place my move knowing I am quite ok the way things are at this time. I have been thinking about this over and over again and I finally decide to remain the way I am right now for at least another year or until I have enough of saving money and trying too hard.

But life had been unfair with me but things are the way they are and I am spending the Christmas Eve along in front of my computer.

Me and my little shares

As for my investment, my famous Blue Note Mining is getting up up up… well, from 0.05 cents to 0.025 cents….. that’s pretty good. I am willing to take everything. They have discovered some gold near by the Caribou mine and the stock price begin to rise a bit. But it’s true that for the rest, I am not doing so well, but I comfort myself by saying it’s all for a long-time investment and I have still time to recover from my lost since I didn’t sell anything. I was quite shock by reading MorningStar website, as they were saying that October and November had been the worst months for mutual funds, seem like everyone are selling their units. It is so not the time to sell, it’s just contribute to make things worst than ever, as I consider it will be important that all players small or big keep the money were it is invest. And anyway, it’s not fun to sale now and loses money like crazy. By not selling, I believe I keep a chance to see things coming up again like its use to be. I would just like to see everything go back to normal as I was so close to reach my first 50 000$.

I am not getting too desperate as I begin to purchase stocks. And the funniest thing is that I try to buy when I think we reach the lowest, but the lowest is being beat my another lowest and so on…lol That’s what happen to me with Bank of Scotia. I purchase the stocks at 44.82$. I taught it was a good deal…. But now, the stock price is at something like 30$.......... Oh no!

And that’s not it… as for my Sprott Equity fund, I first did a bad move, I invest 5 000$ at the price of 50$... After what, thinking I could do a good deal, I invest another 1 000$ at 35$ the unit price….. And now, in date of today, the units are around 25$ or less…

The lesson I learn…when I think I have reach the bottom, it’s not being reach yet… lol!!!!!

And what to tell about TIM? And Sprott stocks……….. I just prefer not to talk about it. :)

I believe that when I will have enough of loosing money, I will consult a financial adviser. That’s sit that’s all. But that day might never come as I like purchasing stocks like a rock and I follow the index with a huge interest each day. My only regret is to not be able to make enough money to invest more. This is just so difficult those days to follow the index as t goes up and down and it’s turning me crazy. But I really enjoy. Dividends are really great too to earn.

A smart move of mine was Methanex (MX) even if I didn’t have a clue of what was methanol back than lol. I purchase MX at around 15$ per share. Now they worth 13$ or something. I just don’t want to loose money that much, I want to make some. That’s why I am saying that purchasing Methanex at 15$ was a great move.

I have an eye on HSE, BPO, FTS, ENB just to name a few. But the only concern is where I am going to find the money….. And that’s the reason why my next purchase might be BPO. I would just like to purchase 200 stocks around the price of 6$ and get the high dividend of a it more than 0.70 cents…

At the end, I just can’t wait who things will have turned out for me in about one or 2 years for now. I would very much to reach 100 000$ in asset by the end of my 30 birthday. What’s nice with me is that I can never barely reach my goal, but I prefer to fix myself some funny unreachable goal and make fun of myself than just to go with a little things that I can easily reach.

Just getting better

Things are getting a lot better for me those last days. First, I got my laptop repair last week. I had a problem with it, I couldn’t use the Wireless connection – so I couldn’t connect to the Internet since I always go to a cafe about once a week or so to connect. I got it repair from a guy at my workplace and he was generous to do it for free, after refusing the 60$ I had offer him. That’s for the laptop.

It’s been officially been more than a year that I am at my full-time day job as a customer representative. I plan to maybe look for a better job later on. But for now, it’s still working pretty well for me the 3 jobs all combine together. It’s just I can get pretty tired sometimes and my morning job is killing me, as they continue to cut some hours from time to time. And they sometime tell me to call in the early morning to see if they have work available. And it’s killing me because I don’t have a cell or phone at home and I have to get ready anyway, each morning and call from a pay phone to see if they have work. For now, I only have a little pager. I wouldn’t like to have too much bills to pay as for now my mainly expenses are my rent and my student loans. After the regular living expenses, I wouldn’t like to have a lot of bills to pay as it will kill me to have less money to invest. And forgive about paying on my student loan, I enjoy purchasing stocks too much for now.

I now pay off my credit line at TD Canada Trust and it’s just amaze me how much I can save and pay off debt really quickly. Taking money from my credit line to purchase stocks might not be the best thing to do, but I do what I want and what I like about this is no one has a word to say on anything.

Next big project is my RRSP. I plan to save money from December to March 2009 for it. This year, I have around 7 000$ I can invest in my RRSP and I can’t wait to be finally done with it, and the taxes. Its look good for this year, I might be able to make a bit more than 40 000$ which is a lot knowing that just a year or so, I was down to almost have of this. It’s really difficult to make this amount after taxes for me. And I just hope to me able to make more money in 2009 but I haven’t think of doing anything extra, but maybe joining the army but I am in bad shape and I gain a little weight by working 80 hours a week and not doing that much exercise. And I am white like dead. The only things I like about myself now are my hair. But that have nothing to do with my money.