Lazy Sunday

I am having problems with Sprott

I didn’t find yet what’s going on with my Sprott dividend as I just wake up… Let’s say it’s an easy Sunday. But as soon as go outside, I am going to call TD Waterhouse, to ask what’s going on. I also have to make sure my DRIP is still on for all of my other investments. Remember what I said about the DRIP last time? It’s allowing me to earn an extra 100$ (more on less) directly from my investment portfolio.

Derek Foster fourth book: Stop working too, you still can!: safe beginner strategies from Canada’s millionaire investor a review by My First 50 000$

Yesterday was an easy day and I didn’t do much. Right now, I am just in need of time where I don’t do anything. I had purchased Derek Foster latest book: Stop working too, you still can!: safe beginner strategies from Canada’s millionaire investor. At first, the title sound weird at first for me, Derek Foster wasn’t a millionaire, but with his house which is mortgage free and his car, well, Derek Foster IS a millionaire. The title is catchy and funny. I had purchased Derek Foster book at Chapters on St-Catherine St. There’s still a couple of Derek Foster books waiting for you lol. I get through the reading of Stop working too, you still can!: safe beginner strategies from Canada’s millionaire investor easily. This one is easier than the Money for Nothing, which, I had to admit, didn’t understand too much. But as Derek Foster explains himself, Money for Nothing is more for sophistical investors, which I am truly not lol. So I prefer to stick to the basic and with things I can understand. Right now, a thing that I don’t understand is my Sprott dividends… And I am going to find out in a couple of minutes.

The reading of Stop working too, you still can!: safe beginner strategies from Canada’s millionaire investor was very funny for me because there’s a pat where Derek talk about banks and it make me laugh because well, I am now working for a bank lol.

Derek Foster had started a new project earlier this month: newsletters. There have been 2 so far, interesting as always published on his web site: stopworking.ca. Very nice and I think it’s good for him. So far, Derek Foster was making a great contribution on Canadian Business forum. So it’s good he gets to work a bit more for himself than for other and get a place where he can write over the Internet without being judge or attack.

There just one little thing I don’t understand about Derek Foster: where in the world are his Google AdSense ads?

As always at the end of his book, Derek presents an update of his portfolio. I made a lot of cash on Pembina Pipeline Income Fund (PIF.UN). And I first purchase Pembina Pipeline Income Fund (PIF.UN) because it was from Derek Foster portfolio. I had more than 3 000$ available to invest on my credit line. As you know, I wanted to invest in Brookfield Renewable Power Fund (BRC.UN) for a very long time. Earlier this week, I wanted to invest in 200 units of Brookfield Renewable Power Fund but I had to say, I wasn’t so sure of the pick and well, I didn’t invest in BRC.UN. While looking at Derek Foster portfolio update, I take a look and I find out that Derek was investing in Enbridge – put in their unit fund. So I guess I will be placing an order for 300 units of Enbridge Income Fund. But will place the order later on this evening, after calling TD Waterhouse.

Investing using my TD credit line: why do I do so? I love leverage

My 5 000$ loan at 8% with TD credit line require a minimum payment of 150$, which I can easily afford at this time with my 2 jobs. The other credit line I have at my job (at a super low interest rate) require a minimum of 100$. I can afford those payments. I am using leverage – but I only using what I can afford to pay.

Those it worth it? For me, the answer is yes, because the dividend covers the payment of the interest and it worth it all the way because my dividend are being reinvested. Reading Derek Foster fourth book just boost my confidence is the market.

About my latest investment and their dividend:

Bell Aliant Regional Communications Income Fund (BA.UN): 100 units x 2.90$ (yearly dividend) = 290$
Enbridge Income Fund: 300 units x 1.15$ = 345$

290$ + 345$ = 635$

5 000$ at an interest rate of 8% = 400$ in interest

635$ - 400$ = 235$

I win 235$ in free money by using leverage. I will definitely place an order to purchase 300 units of Enbridge Income Fund. Units of Enbridge are cheaper than the real deal – Enbridge stocks (ENB). ENB stocks are at more than 40$ per stock… Can I afford it? The answer is no…. lol.

In conclusion for now

For now, I am going to call TD Waterhouse to find out what’s going on with Sprott and also, I am going to read my banking stuff at a café. And later on, I will place my order for 300 units of Enbridge Income Fund.

What’s going on with Sprott dividend?

So far, I had received Sprott dividend for its company Sprott Inc. (SII) without any problem. Just now, after giving a quick look to my very awesome stocks and units portfolio lolllllll, I just saw something new: my Sprott dividends were in. A little but very welcome 12.57$. No problem there. Extra cash is always welcome. But, the only problem is that I received the whole 12.57$ in cash. No dividend had been reinvested. How come?

Last time, my dividend of Sprott were reinvested, which allow be to get new Sprott stocks. But this time, the money was there, living in cash in my broker account. Maybe would they be reinvested on Monday? I really don’t know, but the whole thing is very strange. All of my dividend are being reinvested and a 12.57$ would had normally let me earn 3 extra stocks of Sprott. Could me that the DRIP program had been cancel by Sprott Inc. (SII)? I have to call TD Waterhouse tomorrow. I could call them now, but it’s cold outside and to tell the true, I am some kind of tired, even if I wake up late in the afternoon. My 9AM to midnight schedule is killing me.

I guess it’s possible. But in this case, as soon as the stock price of Sprott increase to the old 9$, I will be selling all of them. That’s for sure. I cannot talk for now since I don’t really know what’s going on but if Sprott cancel its DRIP plan without my authorization, it’s not going to be pretty at all lolll. I am in fire.

Money, dividend and life

I finish my evening job ealier today, as I ask to leave earlier, and I was able to leave early… I took my first calls during the afternoon at the new job I have on today, and it was quite of a challenge. It’s not easy at all for me. For now, everything is fine, I pass my third exam. They are not always very kind at my new job, but I don’t bother that much. My expectations were not very high since I am in Quebec. Sometimes, just a little something splash in my face and remind me that, yeahhh I am in Quebec, in a « country » where foreign doctors had to become taxi drivers to make their living and where idiots like Brian Mulroney and Henri-Paul Rousseau get easily forgive for their wrong actions… Bunch of juicy details righ here lol.With my 2 jobs, money is good, my portfolio is doing well. Basicly for the year 2009 so far, I had reached all of my investment goal. I had reached my first 50 000$ in assets and I had reached the equivalent of 200$ per month in dividend income. Next step will be to work on paying up some debts, while continuing to increase my portfolio from time to time. I also want to put some money aside in my ING Direct account. So many things going on. Everything seem to be possible. I find out about Derek Foster fourth book just recently and I plan to purchase it this weekend. Cannot wait to find out about new tricks on how to become a millionnaire :))))

I am now at an investment portfolio of 56 622.36$

I now have reach 56 622.36$ in investment. Really fantastic. I am very happy with my brand new investment – 100 units of Bell Aliant Regional Communications Income Fund (BA.UN) I purchase earlier this week.

I have 18 019.62$ in debts. I calculate the amount of interest I will pay for a full year, and it make 885.56$... Which is not enormous, but still…

Sadly, here are my debts: :)

Student loan: 8 719.08$ at 4.75%
TD credit line: 2 718.76$ at 8%
TD Visa: 1 681.78$ at 4.9% for 6 months
New credit line: 4 900$ at a super low interest!
TOTAL: 18 019.62$

I will be working at paying my debts in the upcoming months; I just have to stop buying stocks or units whenever some money becomes available on my credit line…

Imagine it : the interest rate on my new credit line is lower than the one of my student loan! Isn’t fantastic? So here is the plan: to pay off my TD credit line, after pay of my TD Visa at 4.9% and after, pay off my student loan. I can achieve this in about 6 months or so… I will have to watch out my expenses carefully and slow down on coffees, junk and everything else…

At this point, since my stocks and units portfolio is slowly taking form, it’s important to pay off some debts and more important part is that I need to remain debt free and stop investing using my credit line. It’s very difficult for not to invest and just pay off debts… I find paying debts very boring because it doesn’t bring anything new to my portfolio.

And talking about my investment portfolio, let’s upgrade our yearly dividend income!! Yeahhh

Bank of Nova Scotia (BNS): 104 stocks x 1.96$ = 203.84$
Fortis (FTS): 103 stocks x 1.04$ = 107.12$
Just Energy Income Fund (JE.UN): 408 units x 1.405$ = 573.24$
Methanex Corporation (MX): 103 stocks x 0.685$ = 70.56$
Pembina Pipeline Income Fund (PIF.UN): 404 units x 1.56$ = 630.24$
Pengrowth Energy Trust (PGF.UN): 6 units x 0.84$ = 5.04$
Sprott Inc. (SII): 503 stocks x 0.10$ = 50.30$
Yellow Pages Income Fund (YLO.UN): 415 units x 0.80$ = 332$
Bell Aliant Regional Communications Income Fund (BA.UN): 100 units x 2.892$ = 289.20$

TOTAL: 2 261.54$
(average of 188$ per month)

My goal was to reach the equivalent of 200$ in dividend. I can easily say the goal will be reach in 2010, because of the DRIP I am register to with BNS, FTS, JE.UN, MX, PIF.UN, SII and YLO.UN. With those DRIP, I should earn an extra 100$. It’s not anytime soon I will be able to retired lol, but its fun to try to…. Early retirement on the way... 911

My investment portfolio in date of October 10, 2009

Savings:
2.69$ (ING Direct)

Non RRSP Investments:
Stocks & Units investment portfolio
Sprott Inc. (SII): 2 270$
Timminco (TIM): 258$
Blue Note Mining (BNT): 56$
Bank of Nova Scotia (BNS): 4 868$
Hanwei Energy Services (HE): 243$
Methanex Corporation (MX): 2 013$
Fortis (FTS): 2 622$
Pembina Pipeline Income Fund (PIF.UN): 6 107$
Just Energy Income Fund (JE.UN): 5 616$
Dumont Nickel Inc. (DNI): 460$
Yellow Pages Income Fund (YLO.UN): 2 270$
TOTAL: 26 519$

Mutual funds (outside RRSP)
Sprott Canadian Equity Fund: 4 588$

Tax-free savings account
RBC O'Shaughnessy Canadian Equity Fund:
2 473.86$
Creststreet Alternative Energy Fund: 1 170$
TOTAL: 3 643.86$

RRSP:
CIBC Dividend Fund: 478.44$
CIBC Emerging Markets Index Fund: 456.69$
CIBC Monthly Income Fund: 951.39$

Energy and Base Metals Term Savings (Indexed term savings): 503.46$
Natural Resources Term Savings (Indexed term
savings): 502.06$

GIC National Bank: 1 098.49$
GIC Finance Plus: 1 513.97$
GIC Plus: 500$

TD Canadian Bond: 109.05$
TD Monthly Income: 98.87$
TD Emerging Markets: 78.47$
TD Energy: 81.11$
TD Precious Metals: 97.58$
TD Latin American Growth: 91.62$
TD Entertainment & Communications: 95.73$
TD Dividend Growth: 186.68$
TD U.S. Mid-Cap Growth: 91.94$

Maritime Life International Equity Fund (Templeton):
660.47$
Manulife Simplicity Growth Portfolio: 827.03$
Maritime Life CI Harbour Seg Fund: 988.14$
Maritime Life Fidelity True North Seg Fund: 929.15$
Maritime Life Trimark Europlus Seg Fund: 589.65$

Great West - Various: 1 577.81$

RBC Canadian Dividend Fund: 480.53$
RBC U.S. Mid-Cap Equity Fund C$: 1 674.91$
RBC Global Resources Fund: 781.78$
RBC O'Shaughnessy International Equity Fund:
644.26$
RBC O'Shaughnessy All-Canadian Equity
Fund: 913.37$
GIC Canadian Market: 1 000$

TOTAL: 18 002.65$

Social Capital at Desjardins Membership share for 3 accounts: 40$

Savings + Stocks, units, mutual funds + Tax-free savings account + RRSP + Online Income (37.17$):
52 833.37$
[In date of October 10, 2009]

BA.UN, exams and other stuff

This week pass by quickly. So far at my new job, I got one quiz and 2 exams. I didn’t pass the quiz (which didn’t count), but I pass the 2 exams, which I was very happy. But there are 2 more to come… And by the end of next week, we will take our first calls… I hope it will go ok because right now, with the combination of the 2 jobs I have right now, my old evening job and this new one, I am making more than 3 000$ after taxes, which allow me to do a lot of things.

As I wrote previously, I pay off one of my student loan debt. The debt was of 1 087$. On Monday, I had received my new credit line with the bank I am working for. I use that credit line to pay my TD credit line. For about 4 days, there’s been no activity on my TD credit line lol. But it didn’t last for long. Yesterday, I purchase 100 units of Bell Aliant Regional Communications Income Fund (BA.UN) as, let’s say, a Christmas gift from me to me… BA.UN is not cheap. I took 2 729$ from my TD credit line to pay for the investment. BA.UN dividend payments are interesting. BA.UN yearly dividend is of 2.94$ per unit. My TD credit line is at an interest rate of 8%. 2 729$ at 8% make 218.32$ in yearly interest. And my BA.UN investment provides me an income of 294$, which is more than the cost of my interest on my TD credit line… This is actually a principle that Derek Foster cover in one of his book. Nice, but I still need to make the minimum payment on those loans! Anyway, for now, I can afford. If something would happen, I could always sell my investments… But so far, it’s seemed to go well.

The 60 hours per 2 weeks that I am doing at my evening job gave me 650$ after taxes. I was pretty happy when I saw the amount of my pay. I can basically afford my living with that job alone. All the other money I make can be spend at whatever I want. And what I truly want right now is to extend my investment portfolio. And right now, everything seem to be align in a way I can achieve my goal

This weekend is going to be a relax one. Like always, I am going to review my banking stuff lol, but I cannot wait to take pictures all over the place with my new digital camera… I didn’t got the chance to try it yet. It’s going to be fun. Also have to update my portfolio (what you see at the right column), but I am just too tired to do it right now.

My order to buy 100 units of Bell Aliant Regional Communications Income Fund

This week was really fantastic. I pay my little student loan (the amount was of 1 087$, which is now pay off). I also pay my TD credit line with the money I had receive from my credit line at a very low interest. But I couldn't help it, I just place an order to purchase 100 units of Bell Aliant Regional Communications Income Fund (BA.UN), at the maximum price of 28$... FINALLY!!!! I wanted to own some BA.UN for so long!!!! Their dividend is so fantastic! 2.9004$ per year per unit!

I wanted to stay at 0$ on my TD credit line, but I wanted to extend my stocks and units portfolio, and I could'nt wait. I wanted to purchase some Bell Aliant Regional Communications Income Fund for a very long time now, and this seem to be the perfect occasion. I calculate roughly, and I should earn around 2 500$ in dividend for the year 2010... Which make my 200$ per month I wanted to achieve and which make now more than 55 000$ in assets, and just a little bit of debt...

I just can't wait for the weekend to come, I really want to calculate how my investments worth now. A TSX at more than 11 600 points, isn't great? IT HAVE to remain the same until the weekend!!!

Busy-busy week

I had many things this week with my training for this new job I have and also the exam I got.. I pass the exam! By looking at my mistakes, I think there’s some stuff I taught I had understood but didn’t understand… So I guess I will read again banking stuff this weekend… Time goes by too quickly and things are getting pretty rough. Very difficult to follow a training, study for it, work 30 hours on top of that at my regular evening job… But money really worth it.

I also transfer money into my banking account in order to pay off one my student loan, at 1 087$... I am almost done with this, I only need to contact my Caisse on Monday to get the payment done and completed.

So far so good, I pass the exam, I continue the training. I might open an account with them in order to trade online very soon.

I received my Just Energy Income Fund (JE.UN) for the month of October. I now own 3 new units of JE.UN. Very nice. I am now at 408 units… Nothing extraordinary yet, but my portfolio slowly taking form and I am always amaze when I received my dividend. Currently, my stocks and units portfolio is at 26 725$, an increase of 206$ compare to October 10th… A little increase is better than nothing at all…

I got the loan, but failed my first quiz

I don’t have any training tomorrow; which is perfectly fine with me. I have so much to do, excluding studying. And surprise, my credit line of 5 000$ at a super low interest had been approved! Today, I provided some proof of incomes. But my credit line is not open yet as I had to take an appointment. By Friday, my credit line at TD will be all pay off, I won’t have to pay the regular TD interest rate of 8%. So I am quite happy with that part. I also ask a question of what will happen if I loose my job at the bank (which is not TD by the way lol), if the interest rate will remain the same, super low? And I was told yes, over the phone… But I would be quite surprise if it would be the case… Anyway, I don’t really mind for now. It make a lot of things to do for me to do at the same time and at a point, I won’t be very sad if I got fired because I had failed the exam or what so ever. Of course I will do my best not to fail, but I mean, if I fail, I won’t be too sad, because I miss my free time, I miss getting up late, drinking coffee late at night, I miss HubPages… Even if I fail, I am pretty happy with all the things I had been able to do. With the pay I will receive this week, I will pay off one of my student loan. After what, I will only have left less than 9 000$ in student loan. For the upcoming months, I would like to pay off some student loan debt, invest in something new for my portfolio, like BRC.UN or EMA, and plan something for my RRSP contribution of 2009. I will probably turn non RRSP investment into RRSP, just like I did last year. But this time, it will be with stocks and units. I have around 10 000$ to invest in RRSP and I will contribute to the maximum into it, in order the save as much as I can on taxes. I have a lot to do and I don’t like too much the training I am following right now because it’s a bit too much of fast food training as everything is being explained quickly and a lot of information is being provided at the same time. Everything is just not fitting well all together and to tell the true, I am not too happy with this. Low salary, great benefit and a training on-the-go. Really not for me. Anyway, I will continue. I am just praying my investment plan will work out and that everything will work out at the end. I really dislike living in the province of Quebec and I just want to escape from here. In God I trust.

Work-work-work, shop-shop-shop

I didn’t blog during the whole week that just pass and at a point, I really wanted to just open my laptop and write up something, but I couldn’t, since I was in training for my new job from 9AM to 5:30PM. After that, I was working at my regular evening job from 6PM to midnight. It’s not as terrible as it can be seen at first sight. I actually went thought this without too much problem. So far so good… The week and the weekend pass way too quickly.

I am getting my first exam next week, just after November 11. Since we are off that day, I will have major part of the day to study. I didn’t work this weekend as I was studying. I also went shopping. I purchased an external DVD player (mine from my laptop just doesn’t want t open anymore, after 5 years of usage). The external DVD player was under 80$.

I purchase a Banana shampoo and conditioner from The Body Shop. You read it right, Banana shampoo and conditioner! Isn’t cool? I just cannot wait to see the result on my hair. My hairs are actually oily. I have to wash my hair every 2 days if not… Its itch, my hair get oily and it’s simply disgusting lol. Tomorrow when I wake up, I will take a shower and try my new Banana shampoo and conditioner.

I also purchase something that I wanted for a really long time now: an external disk drive of 1 TO, which was at 129$. Both items were purchases at Staples. I find Staples a lot cheaper than FutureShop. I already begin to use my external disk drive and it’s allow me to save 1 GB on my laptop so far. I want to save all of my pictured on the external disk drive too eventually and all of my files… Just a lot to do.

And I also purchased, just today actually, a brand new camera! My current digital camera was very old. I purchase a new one, it’s a really cool Kodak EasyShare Z915. It has a 10X optical zoom with optical image stabilization. And the Koday EasyShare Z915 had won the Best-in-Class picture-capture speed! The camera I had before was also from Kodak, so I just wanted to purchase a brand new model of digital camera. I am use to their EasyShare software, and really like it. I just cannot wait to try it. I should be able to do that on this upcoming Wednesday.

I plan to work Saturday the whole day next week if overtime is available. Studying is good, but after a while, all of those banking terms just don’t make any sense after 3 hours of reading. So I read a lot, write a lot… It’s all new and it’s difficult. But even if it’s all new, I apply for a credit line. I just cannot wait to see if I am going to be accepted for it. I should know within the next 2 days. My plan is to use that new credit line (at a very low interest rate that I won’t expose here) to pay off my TD credit line. Would it work or not? I don’t know. But at the salary they are paying, and knowing I have a pretty good credit score, I should be able to get it. Those people now know everything about me! I told the agent who create the request how many credit card I have, how many debts I had and also, how much money I have… So there’s someone out there who actually know that I own more than 50 000$ of my really own money in investments and that’s pretty scary. So if I don’t get the credit line, it’s going to be toooo bad for them, not for me lol. It will be bye bye and I am out of here! LOL!!! But really, if I got refused, I am just going to ask for another consideration and so on. I am going to make them hate me very very much.

Regarding the shopping of this weekend, it all went to by CIBC Visa. And since I had received an offer for a balance transfer coming from TD Visa at an interest rate of less than 5%, guess what will happen very soon? Another balance transfer! I just want to pay off the 6$ left to pay on my TD Visa before…

Just MARVELOUS. This balance transfer should be around 1 500$, including the shopping of this weekend. It’s nice to accumulate investment, pay off debts and stuff, but it’s actually nice to spend some money over stuff I want. But those are not major debts. I currently have 700$ I want to make in deposit to pay part of my student loan. It’s really annoying because I have 2 student loans, from the federal government and the other one from my fantastic province, New Brunswick. So what I want to do, is pay off my provincial student loan, which is only of 1 087.40$. Once completely pay off, I will only have 98$ per month to pay in student loan. Eventually, it will completely be paid off.

I know I should pay the loan with the higher interest first but gees, I am getting tired of that debt, of having 2 student loans to pay each month, one at 65$, the other at 98$. So I am paying off completely the student loan I can pay off. And that’s my provincial student loan. Just a problem: I wanted to pay online 700$ on my student loan, but the ACCES-D system is not allowing me to do so, so I guess I will have to call those really charming people of Desjardins once again… which s***.

I notice that my stocks and units portfolio is at a bit more than 26 600$ right now, which is really great, because I am exceeding the 26 519$ had back on October 10… So I should be around 53 000$ or more right now. Isn’t great?

Let’s say I am taking care of business here, live from Montreal lol.

Until I hit the 150 000$ in investment that will allow me to stop working just like Derek Foster :)))) I will continue working, studying and praying for my loan at a really cheap interest rate to be approve. Does God want this to happen or not?