Switching to a cheaper online broker: Scotia iTRADE

The latest TSX gains had quite a positive impact on my portfolio. Sure, it’s not like on August 5, when the TSX exceed the 11 000 points, but still, a mark higher than 10 900 points is a positive gain and I hope the TSX will continue to gain points like this on a regular basis.

Purchasing stocks online is really easy through my tdwaterhouse. I really like to buy stocks online with tdwaterhouse. Only inconvenient: at 29$ in commission fee per trading, tdwaterhouse is expensive. I am looking forward for a cheaper discount broker solution. This is something I had in mind for a while now. I had read positive comments about Scotia iTRADE on milliondollarjourney.com. I also had called Scotia iTRADE one time just to confirm some information.

The magic of 50 000$ at Scotia iTRADE

In August 5th, I hit a bit more than the magic 50 000$ value in assets. With Scotia iTRADE, since I have at least 50 000$, I could only pay 9.99$ per trade. At this time, I do not want to close my tdwaterhouse account. Right now, I am looking for a solution for my RRSP. With tdwaterhouse, even if I am register with their eService, tdwaterhouse is still going to charge me an annual fee for RRSP. I don’t remember how much, but still, I do not want to be charge any annual fees. The solution would be for me to open an account with Scotia iTRADE. After, I could get 2 or 3 of my major assets being transferred to Scotia iTRADE. Once they had been transferred to Scotia iTRADE, the 3 assets (I was thinking about BNS, FTS and PGF.UN), could be transferred over RRSP.

From what I remember, tdwaterhouse is charging me 25$ or something like that (plus taxes) per stocks I transferred to another online broker. For the transfer of all assets, its 175$ (plus taxes), if I remember correctly. I want to keep my tdwaterhouse account open; I just want to transfer a few assets. Anyway, my 50 000$ is way too much diversified in too many financial services, it will be too much work to get everything transferred at the same place and, just for security reasons, I do not want to have the money invest at one single place. I am just like that.

It’s still summer time and I am already thinking about RRSP lol. I don’t won’t to face the same problem this yea, to pay 3 000$ extra in federal and provincial taxes for my 2009 taxes. No way! Since I do not have the same contact at Revenue Canada as Brian Mulroney who didn’t pay any income taxes on an asset of 200 000$ or something like that, well – I guess I will just have to keep going and working and going and working and… here we are. I am getting the whole thing organize. Reason why: I am going to be job searching really soon and I want everything to be all set when I will be working at a second and, if I am lucky, at a third and, why not, a fourth job lol.

Now, the only question I have left for Scotia iTRADE is the following: is there going to be a fee for transferring non-RRSP stocks into RRSP? This is like the final question I have for Scotia iTRADE. While I am thinking of it, another question that is crossing my mind: is there any fee for DRIP? I am register to an automatic DRIP for PGF.UN, BNS and some other of my stocks and units portfolio. The dividend I am receiving from those companies is being reinvested in order to acquire new stocks or units for free (at least at tdwaterhouse). I am going to ask this question to Scotia iTRADE, but that would be very strange if Scotia iTRADE would charge me for such thing.

I once call tdwaterhouse about RRSP. I was just curious to find out if for non RRSP stocks investment, to turn them into RRSP – do I need first to sell the stocks? The answer that had been provided to me is no, that they had their own way to do it and that no sell was required. Nice. And now, what about Scotia iTRADE? I guess the answer will be the same at Scotia iTRADE, but I will ask it anyway.

More money = more problem. I getting those kinds of problems that only those rich people have and it make me laugh.

Be aware of the inactivity fee at Scotia iTRADE

There’s an inactivity fee of 25$ that will be applied if no transaction had been made for 3 months. At tdwaterhouse, there’s no such inactivity fee. But if in the overall Scotia iTRADE broker account (RRSP, CELI and regular broker account) – for those 3 all included, if you have at least 10 000$ in assets, no 25$ will be applied per period of 3 months of no activity.

The whole online broker account deal is not so complicated, it’s just it’s making a lot of things to look into at the same time.

About my new CIBC Dividend Card

This weekend is going to be a fun one, even if I am facing different frustrations at this time. Among a few things who make me happy, I have my brand new CIBC Dividend Card.

I had a credit card with CIBC since 2005. Back in 2005, I had a CIBC Aero Classic credit card. I wasn’t that much aware of the fees and I didn’t pay too much attention to it until recently, were I notice a fee of 29$. At that time, I call CIBC customer service to see what the reason of the fee was, saying that I didn’t have that fee before to pay for CIBC Aero Classic credit card. I had been told that yes, there’s an annual fee of 29$ for the CIBC Aero Classic card. It’s just I never had notice the fee before. Anyway, I ask to have a credit card with no annual fee. I had been suggested the CIBC Dividend Card.

I recently received the CIBC Dividend Card. The CIBC Dividend Card was no annual fee… but watches out the credit card annual rate… 19.5%. One advantage – and the only one – of CIBC Dividend Card is that it’s allowing holders to earn 1% in cash back, which is interesting.

Other interesting thing: CIBC offer users of CIBC Dividend Card free checks that can be use to pay out rent and pay bills. Fun, but knowing that the interest rate is of 19.5%, I probably won’t use CIBC Dividend chequing service, but I might order some, just in case of need.

I open this CIBC Dividend Card because I didn’t want to close the credit I had at CIBC and I didn’t want to pay any annual fees. Big plus: CIBC always offer me a good service. I also have investments with CIBC and I always received the best service from CIBC, from the credit card and investment department. To make one story short, I had non-RRSP mutual fund investments with CIBC. Last year, I call to transfer them into RRSP. The transformation had been made in the matter of a few minutes. I didn’t get the same good service at Desjardins.

I had one mutual fund with Desjardins. It’s the Desjardins Fidelity True North Fund. I once call to have the investment transfer into RRSP. I call ACCES-D, Desjardins customer service. Problem is, I was calling to receive customer service, but I didn’t receive any. I was told I need to present myself to a Desjardins Caisse to have the operation complete. Which I need, but I was told the transaction couldn’t be completed. This year, I am going to try again. If Desjardins don’t allow me to transfer my investment into RRSP, those people are going to have a hell of a time. I dislike Desjardins and their agents of ACCES-D customer service are really arrogant, almost worst than the one of TD Waterhouse.

Other positive experience with CIBC: when I received my new CIBC Dividend Card, I call customer service, saying that I had pay for the annual fee of my late CIBC Aero Classic and wonder if I could get credited. I had been credited 19.99$, which I accepted.

See, CIBC always offer me the best customer service of the world and I am very grateful for that.

Living for working or working for living

This is actually soo bad, there’s no overtime available this weekend for people of, lets say, of my department. I am really having enough of my job and I cannot take it anymore. You do your best everyday and in return, what you got?

Hours cut, no overtime, bad pay, bad treatment and sh*t lol. I once haven’t been paid for an hour on my paycheck. I requested the hour to be pay, but it never did, because of my supervisor. My supervisor is a cool guy, but whenever it come to hours missing on my paycheck well, forget about it. I don’t know if its his fault or who’s fault it is, but one day, I am going to leave all that sh*t behind lol.

For now, I am going to be able to pay my bills for the month of September, but it’s going to be rough and tough. My next paycheck should be of around 800$. First I have to pay my rent for sure, 535$. No problem for my metro pass as I can pay it using another credit card of mine. I also have a student loan to pay. The minimum payment is around 165$ if I remember. If I calculate my rent and my student loan debt payment together, right there, it’s making 700$... I hope I will be receiving a 800$ paycheck! Plus I have left 50$ in my bank account…

I always some money left at ING Direct in case of emergency. Not to talk about all the money I have invested. But my investments are my investments and I prefer stop eating before taking any money from those precious $$$. And it’s a perfect time to stop eating because I am fat.

Anyway, I can always use 190$ I have left on my credit line… And oh, on August 28, I should received around 12.50$. I have 2$ and something left in my broker account. Those will help me to pay the minimum require on my credit line.

It’s going to be ok, but I dislike this kind of situation. Too tight budget.

You should had invested in Yellow Pages Income Fund yesterday

You should have invested in Yellow Pages Income Fund (YLO.UN) like me yesterday because YLO.UN is currently at 5.12$. Yesterday, I had purchased 300 units of Yellow Pages Income Fund at 4.94$. Today, Yellow Pages Income Fund (YLO.UN) is up of 0.18 cents… Nice profit of 54$!

This is awesome. Actually, I prepared myself for exactly the opposite yesterday, telling myself I was purchasing Yellow Pages Income Fund units in order to reach my 2 000$ dividend income goal. Currently, my overall investment with Yellow Pages Income Fund is of 2 074.95$. Before my purchase of yesterday, I had 101 units of Yellow Pages Income Fund. I now own a total of 401 units of Yellow Pages Income Fund. Currently, my 401 units of Yellow Pages Income Fund worth 2 053.12$, which is not so bad.

I wake up late again this morning; I really got drain up by the hot weather and my job. I finish early yesterday, at 10PM. I did some laundry (at least I am having clean clothes to wear today :)), connect to the Internet, but I didn’t write any HubPages or anything. I was just in front of my computer, feeling miserable. Some of my hours had been cut and I had been told that if we were doing overtime, it wasn’t paid, but I gave my name last Friday to do overtime, so that day should be pay, at least.

Usually, I start my shift at 4PM, but today it’s t 5PM. I was told to begin at 5PM today. My supervisor wasn’t there yesterday, so I couldn’t talk to him. I would like to work Saturday for extra hours. There are always so many calls during the weekend. I hope overtime is going to be available. And I will take Saturday off. For next week, I am in need of a good 1 000$ paycheck, if not, I will manage. My latest investment with Yellow Pages Income Fund really took all that I have. I am confident I should received at least 800$ on my next paycheck. But we’ll see. I also give a call to my weekend job saying that I was available. I guess nothing is available

For the end of this week until the beginning of September, I will try to control my expenses. I guess I have enough in food and other to stand until that time.

I am getting to start a job searching this weekend. I saw a couple of job offers I want to applied to. This is the best solution and the only solution available at this time. I was going to be job searching sooner or later. My weekend job is not that stable and I have a feeling work might not be available like promise in September. And I really dislike that place now. I had been kicked out of their survey project without any notice, giving me no way to set myself up and organize. I am feeling better just to know that I might not need to work for them ever again.

It’s going to be a busy weekend.

My 300 units purchase of Yellow Pages Income Fund (YLO.UN)

I had purchase 300 units of Yellow Pages Income Fund (YLO.UN). Here’s the update of my annual dividend income:

Livingston International Income Fund (LIV.UN): 21.28$
Bank of Nova Scotia (BNS): 201.88$
Fortis (FTS): 106.08$
Just Energy Income Fund (JE.UN): 285.22$
Methanex Corporation (MX): 70.56$
Pembina Pipeline Income Fund (PIF.UN): 157.56$
Pengrowth Energy Trust (PGF.UN): 771.60$
Sprott Inc. (SII): 50$ + special dividend of 75$
Yellow Pages Income Fund (YLO.UN): 320.80$
TOTAL: 2 059.98$

Unless I did a mistake or calculate wrong, but I won’t think so, I now have an annual dividend income of 2 059.98$. My annual dividend income should just keep increasing over time. Once the recession will be over, Livingston International Income Fund (LIV.UN) will continue to pay dividend to their unitholders just like before. Pengrowth Energy Trust (PGF.UN) will increase their dividend to the same amount as before… And so on… lol

And what about a Just Energy Income Fund (JE.UN) special dividend?

Just Energy Income Fund (JE.UN) will, at some point, proceed with the payment of a special dividend. When the fund was still under the name of Energy Savings, the company had proceeded, in the past, to the payment of a special dividend. Now that Just Energy had completed the acquisition of a another company, a little while ago, JE.UN profit will increase, money will come like crazy and... unitholders will receive a special dividend...

We can suppose that my dividend annual income will just boost over time… and increase fantastically.

And now… tell me after that I don’t have it all. lol

Currently, the value of my stocks and units portfolio is of 24 962.82$. And I have 50$ left in my banking account ;)

Pengrowth Energy Trust (PGF.UN) dividend for the month of August 2009

I receive today 63.60$ in dividend earning for Pengrowth Energy Trust (PGF.UN). I earn a total of 7 units of Pengrowth Energy Trust (PGF.UN). I now own 643 units of Pengrowth Energy Trust (PGF.UN). The DRIP on Pengrowth Energy Trust (PGF.UN) is really great. I hope to see the value of this investment to increase over time. My initial investment was of 6 221.87$. Currently, my investment made with Pengrowth Energy Trust (PGF.UN) now worth 6 096$, which is really good. DRIP is nice for dividend income: it’s allowing me to earn a couple of stocks and units for free.

Since my PGF.UN dividend increase from 763.20$ to 771.60$, let’s update our annually dividend income:

Livingston International Income Fund (LIV.UN): 21.28$
Bank of Nova Scotia (BNS): 201.88$
Fortis (FTS): 106.08$
Just Energy Income Fund (JE.UN): 285.22$
Methanex Corporation (MX): 70.56$
Pembina Pipeline Income Fund (PIF.UN): 157.56$
Pengrowth Energy Trust (PGF.UN): 771.60$
Sprott Inc. (SII): 50$ + special dividend of 75$
Yellow Pages Income Fund (YLO.UN): 80.80$
TOTAL: 1 819.98$

And let’s add to this 300 units of Yellow Pages Income Fund (YLO.UN) x 0.80 cents = 240$

1 819.98$ + 240$ = 2 059.98$

Currently, Yellow Pages Income Fund (YLO.UN) is at 4.91$ per unit. I currently have 1301.45$ available on my credit line. I also have now 457.20$ on my banking account. TD banks seem to all open at 8:00am in weekdays. This is great, because I am going to be able to make an extra payment of 400$ on my credit line before the TSX stock market open, as its open at 9:30AM… It’s just I have to wake up early tomorrow and I am not too use to that anymore.

I guess Yellow Pages Income Fund (YLO.UN) price will remain basically the same tomorrow. I will be able to purchase 300 units and I will probably have extra to leave on my credit line. I just cannot wait. This 2 000$ dividend income goal in really important to me. Its mark a giant step in my goal to reach financial freedom.

My next goal is to earn the equivalent of 200$ per month in dividend money. This mean I need to reach 2 400$ in annual dividend income…

2 400$ - 2 059.98$ = 340.02$

After what, I will only be missing 340.02$ in dividend income to reach 200$ per month in dividend income… That will be the next step.

More about my dividend income goal

I was very confused earlier today about if I had received or not my PIF.UN dividend. Seem like I had received them. I just all confused once again. Because I got the DRIP for Yellow Pages Income Fund (YLO.UN) and didn’t see it. At TD Waterhouse, they had been great at explaining that to me, even if I was calling for only 13.13$. But on the road for financial freedom, every penny count lol.

And here we go, what I like most of all, calculating my dividend income. Here is for my dividend earning update:

Livingston International Income Fund (LIV.UN): 21.28$
Bank of Nova Scotia (BNS): 201.88$
Fortis (FTS): 106.08$
Just Energy Income Fund (JE.UN): 285.22$
Methanex Corporation (MX): 70.56$
Pembina Pipeline Income Fund (PIF.UN): 157.56$
Pengrowth Energy Trust (PGF.UN): 763.20$
Sprott Inc. (SII): 50$ + special dividend of 75$
Yellow Pages Income Fund (YLO.UN): 80.80$
TOTAL: 1 811.58$

My dividend income goal is to reach 2 000$ in dividend value by the end of the summer. Am I going to make it? Let’s see…

2 000$ - 1 811.58$ = 188.42$

At this time, I do not have too much money. Forget about adding Enbridge (ENB) or Bell Alliant in my portfolio for now because I am broke! Right now, a correct issue will be to purchase more units of Yellow Pages Income Fund (YLO.UN). I recently read somewhere that a recent company had rate Yellow Pages Income Fund (YLO.UN) as a buy… So this helps me in my decision to purchase extra units of Yellow Pages Income Fund (YLO.UN). I do not particularly like Yellow Pages Income Fund (YLO.UN) but hey, they are cheap, so why not?

How much Yellow Pages Income Fund (YLO.UN) units I need to meet my goal? Currently, Yellow Pages Income Fund (YLO.UN) dividend is of 0.80 cents per unit, which I find pretty good, knowing the state of the economy right now.

188.42$/0.80 cents = 235.525 units

If I purchase 200 units of Yellow Pages Income Fund (YLO.UN), it won’t be enough…. So I better purchase 300 units. And I have enough in cash to proceed with the transaction. Take a look at this:

5$ (current price per unit for Yellow Pages Income Fund (YLO.UN)) x 300 units =
1 500$ + 27$ in commission fee =
1 527$

Currently, I have 1 301.45$ available on my TD credit line. I am only missing 225.55$ in order to reach the 1 527$ I need to cover the cost of this investment.

I currently have 215.71 left in my banking account…. I am waiting for a paycheck of around 200$ at midnight on Wednesday. That’s tomorrow… On Thursday, I could pay 425.25$ on my credit line and transfer at least 1 527$ on my broker account and purchase 300 extra units of Yellow Pages Income Fund (YLO.UN). It will do a little something like this:

300 units X 0.80 cents = 240$

1 811.58$ current dividend income + 240$ =
2 051.58$

And my goal is reach! This is perfectly realizable. I was thinking about all this while being at work and gees, I keep thinking and I saw finally that yes, I can definitely make it for this summer… It's just I am not going to have anything left in my banking account, but who care, I got another paycheck next week lol. And this will happen before my 29 birthday. I am really having a fun time with all this investment deal. Like me reaching my first 50 000$, and now me reaching my first 2 000$ value in dividend income. It’s pretty awesome.

Problem with my Pembina Pipeline Income Fund dividend

Today was quite a busy day. I pay 1 100$ on my TD credit line and 100$ on my TD Visa. I now have left 3 706.55$ on my credit line and 2 675.53$ on my TD Visa. I am very please on the way things are going on right for me. And I am very tempted by purchasing something for my portfolio. But I am going to wait next month. Overtime is available right now, and I just hope to get another 1 000$ in pay for next paycheck. Things are just going super great even if I got snob by my weekend job.

We are already Tuesday; time is passing way too fast. I got my Pembina Pipeline Income Fund (PIF.UN) dividend payment of 13.13$ yesterday. Actually, I can see the transaction in my “Activity”. No problem. But the problem is that I only have 8.50$ right now in cash in my TD Waterhouse account. Something is going on. So I am going to call TD Waterhouse and yell at them and scream: where’s my money? LOL

Anyway, I cannot wait to open an account to Scotia i-trade. Each trade is 19.99$. Once I reach a stable value of 50 000$ in assets, the cost of each trade is going to be 9.99$. So why should I stick with TD Waterhouse?

Only extra fee with Scotia Broker Account is with mutual funds. And with TD Waterhouse, there’s no fee for mutual funds, non-RRSP investment.

It’s been really hot these days in Montreal. The only things I had been doing is working, blogging and writing articles on HubPages.

I also received my brand new CIBC dividend credit card. I activated it just yesterday. And now, I want to see if I can get refund the annual fee for the credit card I close with them to get the CIBC dividend. And they better give me my money back. Or I am going to scream at them too. lol

I am really enjoying my time on HubPages, but regarding the money made on HubPages, nothing came out since last week. The only way I am going to make money on HubPages is that is I keep going and keep writing. It’s just a matter of luck and to write on topics that will class itself well on Google search. I now have 40 articles on HubPages. I made 6$ with Google AdSense since I started. We can see things this way: 40 articles for 6$, 200$ = 1 333 articles… I just need to keep going and writing and writing… And I am really into it. I just cannot wait to reach my first Google AdSense payment of 100$. The only problem is that this whole making money online thing is basically taking all of my free time. This is it, I am a talented, and I am going to make money from my writing. :)

Dividend weekend baby

I just received 6.67$ in dividend income from Yellow Pages Income Fund (YLO.UN). I guess there’s no DRIP available for Yellow Pages Income Fund (YLO.UN). I went check my mail as I went outside to eat pizza. And I received a voting package for Dumont Nickel (DNI). This is fantastic! For once, the shareholders’ meeting is in Montreal! The hour of the meeting is not really appropriate as its fix at 4PM. But we shouldn’t be surprise, as it’s probably a Quebecker who decides to fix the meeting at that time. And it’s schedule for September 10. Anyway, I won’t be able to be there, as I work at that time.

And I am working tomorrow, Sunday. I did a shift trade with a dumb guy, it was really at the last minute, and it’s the last time ever I am going to trade shift with him. This weekend was supposed to be one where I was going to concentrate on my HubPages.

I have many unpublished HubPages articles and it’s ruining my overall score. I want to clear them all as soon as possible. But the problem is: I have 15 unpublished HubPages. Since I had the topic, an idea for the link in head, I decide to create unpublished HubPages, but this was a bad decision of mine, because unpublished HubPages can really ruined a score. Currently, my score is at 58 (on 100). It’s really low. My HubPages score was higher before (around 80). I hope to the complete my 15 unpublished HubPages very soon.

My 14 hours shift

I work for about 14 hours at my job today… When I learn yesterday that there was overtime available, I went nut, I told the supervisor on floor that I wanted to do from 9AM to midnight… and I did… I begin working around 9:30AM. But don’t forget that the night before, I finish my shift at midnight, went back home, wake up at 7AM, take a shower, run to the metro, hit back to work.. and work 14 hours straight in a row lol.

Overtime = more money

And check this out: there’s also overtime available for tomorrow Saturday. This is super great and this helps me to forgive about my weekend job. There was an English survey going on. Even if I was able to complete some surveys, they didn’t want me to continue working on the project, me and 6 other persons. And I was told that my English wasn’t good enough for them. But do I really care? Anyway, since overtime is available at my evening job, I am certainly going to take advantage of it.

My latest paycheck form my evening job was quite good. I received a 1 309.93$ check in my online savings accounts from my evening job. It was a huge surprise, knowing that I was only expecting a little check of around 720$ or 750$! My boss didn’t decide to double my salary overnight. It’s just I should have receive a little augmentation back on November 2008, but I never receive it. I have received the money I should have earned since that time.

Google AdSense news

My Google AdSense income is up to a fantastic new 32.54$... this is great! Even gaining just a few pennies make me happy. But this is the deal: If I am able to earn just a few pennies from Google AdSense, I am certainly able to make thousands of dollars out of Google AdSense right? Don’t you think so?

My HubPages Adventure

I didn’t publish any HubPages articles for a little while. I had been conducting research and stuff. I really like to see my Google AdSense rise and I think it’s going to be the case with all the work I invested in it so far. Because writing original articles require definitely a whole bunch of creativity. It’s also requiring a lot of my time. I just publish my third and latest article on HubPages: Consolidate debts: use credit card balance transfert for your own benefit. This is the article you need to read if you want to learn more about debt management.