I just publish a brand new article on HubPages. I review BMO InvestorLine, a Canadian discount broker. You can take a look at my review of BMO InvestorLine right here.
Sunday, February 7, 2010
I am now under 66 000$ and Jack Layton is suffering from prostate cancer
I wanted to update my investment portfolio as many change had been done recently. I lost a bit of value, but not that much, since I am under the 65 000$. I am currently at exactly 65 285.94$. Once the TSX will gain points again, my investment portfolio could gain 1 000$ right away, or even more. And I wish for more.
Oh no, Jack Layton is suffering from prostate cancer
I had quite a shock to learn that Jack Layton had prostate cancer. Jack Layton is one of the greatest leaders we have right now in Ottawa. I just very like Jack Layton – as much as I like Derek Foster lol. But that’s true, at least.
I have many things I would like to write about. But I am quite exhausted right now. I work today, but yesterday, I had that nice idea: to clean my messy cutty one and half apartment. I went through 5 hours of cleaning, clothes washing and dishes lol. But now, at least everything is clean and I hope it remain that way for a little while.
Oh no, Jack Layton is suffering from prostate cancer
I had quite a shock to learn that Jack Layton had prostate cancer. Jack Layton is one of the greatest leaders we have right now in Ottawa. I just very like Jack Layton – as much as I like Derek Foster lol. But that’s true, at least.
I have many things I would like to write about. But I am quite exhausted right now. I work today, but yesterday, I had that nice idea: to clean my messy cutty one and half apartment. I went through 5 hours of cleaning, clothes washing and dishes lol. But now, at least everything is clean and I hope it remain that way for a little while.
Saturday, February 6, 2010
My stock investment portfolio in date of January 16, 2010
Savings
2.69$ (ING Direct)
Non RRSP Investments:
Stocks & Units investment portfolio
Sprott Inc. (SII): 2 414$
Timminco (TIM): 266$
Blue Note Mining (BNT): 62$
Bank of Nova Scotia (BNS): 4 790$
Hanwei Energy Services (HE): 216$
Methanex Corporation (MX): 2 555$
Fortis (FTS): 2 959$
Pembina Pipeline Income Fund (PIF.UN): 7 204$
Just Energy Income Fund (JE.UN): 5 792$
Dumont Nickel Inc. (DNI): 460$
Yellow Pages Income Fund (YLO.UN): 2 265$
Bell Aliant Regional Communications Income Fund (BA.UN):
2 769$
Pengrowth Energy Trust (PGF.UN): 65$
Enbridge Income Fund (ENF.UN): 3 819$
Corby Distilleries Limited (CDL.A): 1 530$
Davis + Henderson Income Fund (DHF.UN): 1 693$
TOTAL: 38 859$
Mutual funds (outside RRSP):
Sprott Canadian Equity Fund: 5 229$
Tax-free savings account:
RBC O'Shaughnessy Canadian Equity Fund: 2 595.96$
Creststreet Alternative Energy Fund: 1 247$
TOTAL: 3 842.96$
RSP:
CIBC Dividend Growth Fund: 482.49$
CIBC Emerging Markets Index Fund: 453.79$
CIBC Monthly Income Fund: 957.38$
Energy and Base Metals Term Savings (Indexed term savings):
503.46$
Natural Resources Term Savings (Indexed term savings):
502.06$
GIC National Bank: 1 154.83$
GIC Finance Plus: 1 513.97$
GIC Plus: 500$
TD Canadian Bond: 110.79$
TD Monthly Income: 97.72$
TD Emerging Markets: 81.54$
TD Energy: 83.16$
TD Precious Metals: 106.87$
TD Latin American Growth: 94.73$
TD Entertainment & Communications: 102.09$
TD Dividend Growth: 186.91$
TD U.S. Mid-Cap Growth: 95.42$
Maritime Life International Equity Fund (Templeton): 667.52$
Manulife Simplicity Growth Portfolio: 854.60$
Maritime Life CI Harbour Seg Fund: 1 002.67$
Maritime Life Fidelity True North Seg Fund: 944.84$
Maritime Life Trimark Europlus Seg Fund: 602.60$
Great West - Various: 1 577.81$
RBC Canadian Dividend Fund: 484.12$
RBC U.S. Mid-Cap Equity Fund C$: 1 740.46$
RBC Global Resources Fund: 882.32$
RBC O'Shaughnessy International Equity Fund: 615.36$
RBC O'Shaughnessy All-Canadian Equity Fund: 983.93$
GIC Canadian Market: 1 000$
TOTAL: 18 383.44$
Social Capital at Desjardins Membership share for 3 accounts:
40$
Savings + Stocks, units, mutual funds + Tax-free savings account + RRSP + Online Income (53.06$):
66 410.15$
[In date of January 16, 2010]
2.69$ (ING Direct)
Non RRSP Investments:
Stocks & Units investment portfolio
Sprott Inc. (SII): 2 414$
Timminco (TIM): 266$
Blue Note Mining (BNT): 62$
Bank of Nova Scotia (BNS): 4 790$
Hanwei Energy Services (HE): 216$
Methanex Corporation (MX): 2 555$
Fortis (FTS): 2 959$
Pembina Pipeline Income Fund (PIF.UN): 7 204$
Just Energy Income Fund (JE.UN): 5 792$
Dumont Nickel Inc. (DNI): 460$
Yellow Pages Income Fund (YLO.UN): 2 265$
Bell Aliant Regional Communications Income Fund (BA.UN):
2 769$
Pengrowth Energy Trust (PGF.UN): 65$
Enbridge Income Fund (ENF.UN): 3 819$
Corby Distilleries Limited (CDL.A): 1 530$
Davis + Henderson Income Fund (DHF.UN): 1 693$
TOTAL: 38 859$
Mutual funds (outside RRSP):
Sprott Canadian Equity Fund: 5 229$
Tax-free savings account:
RBC O'Shaughnessy Canadian Equity Fund: 2 595.96$
Creststreet Alternative Energy Fund: 1 247$
TOTAL: 3 842.96$
RSP:
CIBC Dividend Growth Fund: 482.49$
CIBC Emerging Markets Index Fund: 453.79$
CIBC Monthly Income Fund: 957.38$
Energy and Base Metals Term Savings (Indexed term savings):
503.46$
Natural Resources Term Savings (Indexed term savings):
502.06$
GIC National Bank: 1 154.83$
GIC Finance Plus: 1 513.97$
GIC Plus: 500$
TD Canadian Bond: 110.79$
TD Monthly Income: 97.72$
TD Emerging Markets: 81.54$
TD Energy: 83.16$
TD Precious Metals: 106.87$
TD Latin American Growth: 94.73$
TD Entertainment & Communications: 102.09$
TD Dividend Growth: 186.91$
TD U.S. Mid-Cap Growth: 95.42$
Maritime Life International Equity Fund (Templeton): 667.52$
Manulife Simplicity Growth Portfolio: 854.60$
Maritime Life CI Harbour Seg Fund: 1 002.67$
Maritime Life Fidelity True North Seg Fund: 944.84$
Maritime Life Trimark Europlus Seg Fund: 602.60$
Great West - Various: 1 577.81$
RBC Canadian Dividend Fund: 484.12$
RBC U.S. Mid-Cap Equity Fund C$: 1 740.46$
RBC Global Resources Fund: 882.32$
RBC O'Shaughnessy International Equity Fund: 615.36$
RBC O'Shaughnessy All-Canadian Equity Fund: 983.93$
GIC Canadian Market: 1 000$
TOTAL: 18 383.44$
Social Capital at Desjardins Membership share for 3 accounts:
40$
Savings + Stocks, units, mutual funds + Tax-free savings account + RRSP + Online Income (53.06$):
66 410.15$
[In date of January 16, 2010]
Thursday, February 4, 2010
Yeah, I got laid off and so what?
I got laid off last week because I am a work genius. I didn’t write about it, but I have to say, I saw it coming. Now that it’s been done and completed, I am ready to move on. I am currently close to 300$ in dividend earning per month. Lay off or not, the journey continues. I have to say, I have more than one trick in my pocket as I am financially speaking pretty safe. I wanted more than one time post the name of the employer who lay off me, but I won’t. I wouldn’t like to face criminal charges and I have to say, I have more important things to do in life than just ding some smart talking around some loooooosers who don’t even deserve me. I am one of the smartest – and weirdest lol – small investor that is out there. I am not the youngest retiree (that’s Derek Foster title lol) but I am the smartest small investor. That’s it! But one day, I am going to make it and than, I will write a book and I am going to let the world know from which bank I got laid off.
See, I am smart enough to have kept my old job while working at the bank because I kind of had a feeling that it wasn’t going to work for the long run as I find their way – at the bank – extremely arrogant and careless. But what is definitively in for the long run is me as an investor. Or me as a dividend girl lol. I have a lot of projects on the way! My life didn’t stop when I got laid off; it’s completely opposite that happen. Laid off or not, I continue to beat the steel…… when its hot, of course.
My work shift is currently kind of difficult to manage around. I might ask for a shift change, but I am just a bit afraid to ask since its going to be my third time asking for a shift change in the last couple of months. So I do not know what to do right now, if it not just working my hours. Anyhow, I also have a weekend job where its going ok there too. So I am not in need of money and I can manage myself quite well. I had been even quite lazy lately as I slept in until 10am or so… and I begin to work at lunch time. That’s how its been going on.
Major projects on the way: changing of broker
With the current investment portfolio that I own, I can trade for as low as 9.99$ with iTrade, no matter how many units are being trade. At 29$ per trade, TD Waterhouse is not cheap. Major benefit from TD Waterhouse: their platform is really awesome. I am a real beginner, but still, I had been able to purchase stocks very easily with TD Waterhouse. Despite some problems, I got a good service. But now, time to move on and invest at a cheaper price.
My way of investing is very strange. I do not have a particular method. My one and only rule: diversification. In this current case, diversification means that I invest very small amount of money in different companies who are, most of the time, dividend payers. My latest investments had been made in dividend payers companies. Why should I pay 29$ per transaction when I can pay 9.99$? I can save money just by changing of broker. So why not? T D Waterhouse charge an annual fee for RRSP investment. But iTrade do not change anything. I absolutely need to invest 10 000$ for my RRSP of 2009. If not….. slashhhhhhhhhhhhhhh. Hello taxes! Provincial taxes are a real headache here in Quebec. I wanted to invest in the iShare for a very long time now! Seem like its going to be in 2010. I also want to borrow money to invest in my RRSP. Usually, those type of loan remain free for the first 3 months (no payment require for 3 months). Also, the interest rate is generally low too. But I guess that in 3 months from now, I would have figure a plan to pay off the loan completely. I am still under the process for a RRSP loan. Life is not easy.
Also, I currently have more than 2 000$ coming out from no where that I want to invest it. I have an eye on Jean-François Tardif top pick of – I think it was of 2009 – Premium Brands Holdings Corporation. At this time, Premium Brands Holdings Corporation represent the perfect investment. The price per stock is under 14$. This investment is quite affordable (just the way I like them!). Very awesome fact: Premium Brands Holdings Corporation annual dividend is currently of 1.176$. Just a couple of months ago, Premium Brands Holdings Corporation was a .UN investment. Premium Brands Holdings Corporation was known under Premium Brands Income Fund. The company had change into a corporation and they still pay a pretty good dividend. This means that there is still hope. There’s hope that my other .UN investments transform themselves into a corporation. If I am lucky enough, once the transformation will be completed, those companies will continue to pay a high quality dividend.
I just cannot wait to purchase 200 stocks of Premium Brands Holdings Corporation! The investment will bring my annual dividend income to an extraordinary 3 390.03$ (282.50$ per month). I am very close to the 300$ per month!!! I really begin to believe that I am going to be able to make it, no matter what! :)
See, I am smart enough to have kept my old job while working at the bank because I kind of had a feeling that it wasn’t going to work for the long run as I find their way – at the bank – extremely arrogant and careless. But what is definitively in for the long run is me as an investor. Or me as a dividend girl lol. I have a lot of projects on the way! My life didn’t stop when I got laid off; it’s completely opposite that happen. Laid off or not, I continue to beat the steel…… when its hot, of course.
My work shift is currently kind of difficult to manage around. I might ask for a shift change, but I am just a bit afraid to ask since its going to be my third time asking for a shift change in the last couple of months. So I do not know what to do right now, if it not just working my hours. Anyhow, I also have a weekend job where its going ok there too. So I am not in need of money and I can manage myself quite well. I had been even quite lazy lately as I slept in until 10am or so… and I begin to work at lunch time. That’s how its been going on.
Major projects on the way: changing of broker
With the current investment portfolio that I own, I can trade for as low as 9.99$ with iTrade, no matter how many units are being trade. At 29$ per trade, TD Waterhouse is not cheap. Major benefit from TD Waterhouse: their platform is really awesome. I am a real beginner, but still, I had been able to purchase stocks very easily with TD Waterhouse. Despite some problems, I got a good service. But now, time to move on and invest at a cheaper price.
My way of investing is very strange. I do not have a particular method. My one and only rule: diversification. In this current case, diversification means that I invest very small amount of money in different companies who are, most of the time, dividend payers. My latest investments had been made in dividend payers companies. Why should I pay 29$ per transaction when I can pay 9.99$? I can save money just by changing of broker. So why not? T D Waterhouse charge an annual fee for RRSP investment. But iTrade do not change anything. I absolutely need to invest 10 000$ for my RRSP of 2009. If not….. slashhhhhhhhhhhhhhh. Hello taxes! Provincial taxes are a real headache here in Quebec. I wanted to invest in the iShare for a very long time now! Seem like its going to be in 2010. I also want to borrow money to invest in my RRSP. Usually, those type of loan remain free for the first 3 months (no payment require for 3 months). Also, the interest rate is generally low too. But I guess that in 3 months from now, I would have figure a plan to pay off the loan completely. I am still under the process for a RRSP loan. Life is not easy.
Also, I currently have more than 2 000$ coming out from no where that I want to invest it. I have an eye on Jean-François Tardif top pick of – I think it was of 2009 – Premium Brands Holdings Corporation. At this time, Premium Brands Holdings Corporation represent the perfect investment. The price per stock is under 14$. This investment is quite affordable (just the way I like them!). Very awesome fact: Premium Brands Holdings Corporation annual dividend is currently of 1.176$. Just a couple of months ago, Premium Brands Holdings Corporation was a .UN investment. Premium Brands Holdings Corporation was known under Premium Brands Income Fund. The company had change into a corporation and they still pay a pretty good dividend. This means that there is still hope. There’s hope that my other .UN investments transform themselves into a corporation. If I am lucky enough, once the transformation will be completed, those companies will continue to pay a high quality dividend.
I just cannot wait to purchase 200 stocks of Premium Brands Holdings Corporation! The investment will bring my annual dividend income to an extraordinary 3 390.03$ (282.50$ per month). I am very close to the 300$ per month!!! I really begin to believe that I am going to be able to make it, no matter what! :)
Wednesday, February 3, 2010
What’s going on? Steve Martin is about to leave Creststreet Asset Management Ltd.
Fellow readers know my admiration for Steve Martin and the extraordinary Creststreet Alternative Energy Fund. What Robert Toole had done to Steve Martin in order to make him leave his firm? It’s seem to be a mystery. This sound so like when Jean-François Tardif left the firm of a guy name Eric Sprott… Might be some s*** going on, that for sure. And now, time for investors to show their support and sell Creststreet Alternative Energy Fund. Why? Because I am pretty sure that Robert Toole or someone from Creststreet Asset Management Ltd. might had done something to Steve Martin.
Steve Martin was managing the Creststreet Alternative Energy Fund for quite some time and his profile wasn’t from the Creststreet Asset Management Ltd Web site. A few months ago only, Steve Martin profile had been add to Creststreet Asset Management Ltd Web site. I notice that and of course, I write down the ino right here on my very own blog. So now, let’s all support Steve Martin and sell the Creststreet Alternative Energy Fund because Steve Martin was the “guy” behind Creststreet Alternative Energy Fund success. I just hope Steve Martin won’t go work for Sprott Asset Management. That would be very horrible... Jean-François Tardif and Steve Martin should get together and open their own investment firm. That's a real good idea!
Seem like I am not the only one who got laid off recently! Coincidence? No! It's destiny! lol.
Steve Martin was managing the Creststreet Alternative Energy Fund for quite some time and his profile wasn’t from the Creststreet Asset Management Ltd Web site. A few months ago only, Steve Martin profile had been add to Creststreet Asset Management Ltd Web site. I notice that and of course, I write down the ino right here on my very own blog. So now, let’s all support Steve Martin and sell the Creststreet Alternative Energy Fund because Steve Martin was the “guy” behind Creststreet Alternative Energy Fund success. I just hope Steve Martin won’t go work for Sprott Asset Management. That would be very horrible... Jean-François Tardif and Steve Martin should get together and open their own investment firm. That's a real good idea!
Seem like I am not the only one who got laid off recently! Coincidence? No! It's destiny! lol.
Let's get physical with Eric Sprott: the Sprott Physical Gold Trust
I know, the title of this post is just so hilarious! Taught that I was going to lay down in depression after getting laid off from XXX? Well, surprise, my sense of humor just got deeper, cleaner and... deeper. Before talking about XXX, let's get a bit closer to Eric Sprott... not to say it again.... let's get physical with Eric Sprott... lol!!!
Ok, so that dear Eric Sprott of mine just copy one of his very own competitors (Claymore Investments Inc. not to name them) and instead of focusing on his Sprott Canadian Equity Fund, well, the guy - let's name him again - Eric Sprott – well, Eric Sprott decide to take advantage of small people - once again - and then, the guy - Eric Sprott (again, and again and again lol...) decide to start a new thing. Just like I am moving on from XXX and starting something new, seem like Eric Sprott moving forward himself too. Eric Sprott and his team got deeper and deeper into gold, and I believe someone might had told Eric Sprott: let’s do it like Claymore Investments Inc. – just like I am trying to “do it” like Derek Foster lol. And there we go, here come a brand new financial product: Sprott Physical Gold Trust. Sprott and Physical, are just 2 words that match very well together lol.
Well, I have to say, Eric Sprott is somewhat brilliant. Gold is his thing and at 10$ per unit, I would very much to get in into his new thing, but now that I got laid off from XXX, its going to be difficult, but I like things like that, I like it when its difficult.. And my relation, physical or not, with Eric Sprott is difficult. Also. lol :)
For more info, you can read my previous post about Eric Sprott: Derek Foster vs Eric Sprott: who's the best investor?
Ok, so that dear Eric Sprott of mine just copy one of his very own competitors (Claymore Investments Inc. not to name them) and instead of focusing on his Sprott Canadian Equity Fund, well, the guy - let's name him again - Eric Sprott – well, Eric Sprott decide to take advantage of small people - once again - and then, the guy - Eric Sprott (again, and again and again lol...) decide to start a new thing. Just like I am moving on from XXX and starting something new, seem like Eric Sprott moving forward himself too. Eric Sprott and his team got deeper and deeper into gold, and I believe someone might had told Eric Sprott: let’s do it like Claymore Investments Inc. – just like I am trying to “do it” like Derek Foster lol. And there we go, here come a brand new financial product: Sprott Physical Gold Trust. Sprott and Physical, are just 2 words that match very well together lol.
Well, I have to say, Eric Sprott is somewhat brilliant. Gold is his thing and at 10$ per unit, I would very much to get in into his new thing, but now that I got laid off from XXX, its going to be difficult, but I like things like that, I like it when its difficult.. And my relation, physical or not, with Eric Sprott is difficult. Also. lol :)
For more info, you can read my previous post about Eric Sprott: Derek Foster vs Eric Sprott: who's the best investor?
Friday, January 29, 2010
The Dividend Girl on HubPages
I had been an active on HubPages since last summer. Since that time, I had wrote 50 articles on HubPages. Those HubPages articles greatly help to increase my Google AdSense profit. In my latest article, I describe my journey for financial freedom:How to win big on the stock market: learn and earn big from my stock investing methods
I had wrote a couple of finance-related articles on HubPages. Here they are:
Make money from penny stocks trading with Timothy Sykes
Make money from quick and easy trading: penny stocks
Is it a good time to invest in the stock market?
Consolidate debts: use credit card balance transfer for your own interest
Horror stories with financial advisors
The power of a dividend reinvestment plan (DRIP) on an investment portfolio
Credit card or credit line: which one should you choose?
My precious saving money tips:
My best saving tips that can help you save money
Do I like the guy or not? A little something more about… Derek Foster:
Stop Working: learn how you can with Derek Foster
I had wrote a couple of finance-related articles on HubPages. Here they are:
Make money from penny stocks trading with Timothy Sykes
Make money from quick and easy trading: penny stocks
Is it a good time to invest in the stock market?
Consolidate debts: use credit card balance transfer for your own interest
Horror stories with financial advisors
The power of a dividend reinvestment plan (DRIP) on an investment portfolio
Credit card or credit line: which one should you choose?
My precious saving money tips:
My best saving tips that can help you save money
Do I like the guy or not? A little something more about… Derek Foster:
Stop Working: learn how you can with Derek Foster
Another retired-early dude:
About financial criminals: Bertram Earl Jones and Stevens Demers:
The mystery surrounding Bertram Earl Jones: another financial scandal?
The mystery surrounding Bertram Earl Jones: another financial scandal? Part 2
Stevens Demers author of a financial crime of $10 million
He’s not a criminal yet, but he’s a bastard:
From hockey player bastard to superficial pop singer: portrait of Jonathan Roy
Like Tim Hortons? Me too:
If you like indie music, I strongly suggest the following articles:
A Canadian icon, Shania Twain:
Because recession also hurt celebrities:
An article about Canadian writer Natalie McLennan:
Writer Nelly Arcan RIP:
Portrait of journalist Nadia Fezzani:
I like Julie Payette:
A sport icon, Arturo Gatti:
And of course, more to come...
Tuesday, January 26, 2010
Talking about beating the steel when its hot...
Today was quite a busy day! I move on with the « ping-pong » thing of mine. So I went to RBC, make a cash advance of 1 000$. But sign a cheque, the one with the promotional offer of 3.9% for 8 month for the amount of 1 400$. I didn’t have my RBC Visa card with me, so I could only withdraw 1 000$ on the spot. The teller was kind enough to take the 1 400$ cheque as deposit anyway. So tomorrow I will be able to withdraw 400$, and make a depost on my line of credit. And save on the interest money. Little saving is better than no saving at all. I took the decision to handle some debts, so now I have to deal with it.
I begin my day this way…. After I went to work. I couldn’ wait or the shift to end because I had a fee things I wanted to do. I have more than 10 000$ that I can invest in my RSP for 2009. I want to make the maximum contribution. Even if my job at the bank is not super, I wanted to take a loan with them for my RSP. The loan on itself is pretty good : no payments are required for the first 3 months. Which is very awesome. I might had an income of a bit more than 40 000$ for the fiscal year of 2009. I really need to invest the max that I can into my RSP – I really cannot afford paying extra taxes this year! So I call RBC about something I wanted to do, not a RSP loan, but my call was about turning into RSP a mutual funds I had with them, the RBC O'Shaughnessy Canadian Equity Fund. Currently, my parts of RBC O'Shaughnessy Canadian Equity Fund are invested into my Tax-Free Savings Account (TFSA). So I call 2 times because the first represnetative told me she couldn’t perform the operaion and I didn’t understand why, the line was cracking from my end. I first call on my break in the afternoon. I gave it a second try later on in the evening, but the answer was unfortunately the same. One possibility would had been to sell my parts of RBC O'Shaughnessy Canadian Equity Fund that I hold in the TFSA and invest the money into my RSP under another mutual funds, but I was not willing to do so. So everything remain the same for now regarding the investment I hold with RBC. Great lol. And now what?
Well, after that, I decide to give TD Waterhouse a call. I explain I wanted to take the Sprott Canadian Equity Fund I have and that I wanted to transform the really same investment into the TFSA account, which its where I currently hold the fantastic Creststreet Alternative Energy Fund. I first ask if I will get any taxes to pay on this, if the move was considered as a sell. The anwer was yes, like I was told before lol. But… Remember that I first invested something like 7 000$ into the Sprott Canadian Equity Fund and that now the investment currently worth less than 5 000$? I would had pay taxes if it would had been the opposite that would had happen. If I would had made money from the investment, I would had pay taxes for moving the investment from a non-register status to a register status. This doesn’t make any sense for me since its not really a sell since I do not cash out the investment, its just a change in the status. But I do not try to understand anymore because finance world just doesn’t make any sense. Anyhow, by tomorrow, my units of the Sprott Canadian Equity Fund will be from my TFSA, among with Creststreet Alternative Energy Fund.
My goal is to evenually sold the Sprott Canadian Equity Fund once it will reach its initial value of 7 000$. When my investment will reach the old 7 000$, guess what will happen? I WILL SELL SPROTT CANADIAN EQUITY FUND. FOREVER. lol…. A 2 000$ lost in my investment portfolio because of Eric Sprott? No no no. NEVER AGAIN. End of the discussion. Let's move on.
So as you can see, today was quite busy and the day is not over yet…. And I have planty of things to say…
I begin my day this way…. After I went to work. I couldn’ wait or the shift to end because I had a fee things I wanted to do. I have more than 10 000$ that I can invest in my RSP for 2009. I want to make the maximum contribution. Even if my job at the bank is not super, I wanted to take a loan with them for my RSP. The loan on itself is pretty good : no payments are required for the first 3 months. Which is very awesome. I might had an income of a bit more than 40 000$ for the fiscal year of 2009. I really need to invest the max that I can into my RSP – I really cannot afford paying extra taxes this year! So I call RBC about something I wanted to do, not a RSP loan, but my call was about turning into RSP a mutual funds I had with them, the RBC O'Shaughnessy Canadian Equity Fund. Currently, my parts of RBC O'Shaughnessy Canadian Equity Fund are invested into my Tax-Free Savings Account (TFSA). So I call 2 times because the first represnetative told me she couldn’t perform the operaion and I didn’t understand why, the line was cracking from my end. I first call on my break in the afternoon. I gave it a second try later on in the evening, but the answer was unfortunately the same. One possibility would had been to sell my parts of RBC O'Shaughnessy Canadian Equity Fund that I hold in the TFSA and invest the money into my RSP under another mutual funds, but I was not willing to do so. So everything remain the same for now regarding the investment I hold with RBC. Great lol. And now what?
Well, after that, I decide to give TD Waterhouse a call. I explain I wanted to take the Sprott Canadian Equity Fund I have and that I wanted to transform the really same investment into the TFSA account, which its where I currently hold the fantastic Creststreet Alternative Energy Fund. I first ask if I will get any taxes to pay on this, if the move was considered as a sell. The anwer was yes, like I was told before lol. But… Remember that I first invested something like 7 000$ into the Sprott Canadian Equity Fund and that now the investment currently worth less than 5 000$? I would had pay taxes if it would had been the opposite that would had happen. If I would had made money from the investment, I would had pay taxes for moving the investment from a non-register status to a register status. This doesn’t make any sense for me since its not really a sell since I do not cash out the investment, its just a change in the status. But I do not try to understand anymore because finance world just doesn’t make any sense. Anyhow, by tomorrow, my units of the Sprott Canadian Equity Fund will be from my TFSA, among with Creststreet Alternative Energy Fund.
My goal is to evenually sold the Sprott Canadian Equity Fund once it will reach its initial value of 7 000$. When my investment will reach the old 7 000$, guess what will happen? I WILL SELL SPROTT CANADIAN EQUITY FUND. FOREVER. lol…. A 2 000$ lost in my investment portfolio because of Eric Sprott? No no no. NEVER AGAIN. End of the discussion. Let's move on.
So as you can see, today was quite busy and the day is not over yet…. And I have planty of things to say…
Just a few announcements before going to bed
I didn’t have the chance to take a look at my purchase order for 100 units of Pengrowth Energy Trust (PGF.UN). I couldn’t wait to be back from work. My order went through at 11.14$ for 100 units of Pengrowth Energy Trust (PGF.UN). I now own 106 units of Pengrowth Energy Trust (PGF.UN).
I also received my dividend from Bell Aliant Regional Communications Income Fund (BA.UN). I didn’t received any extra new unit, but I had received the whole 24.17$ in cash, which I deposit on my credit line.
Good news! I have a whole week off of my daytime job next week! It’s going to be awesome. I have off tomorrow from my evening job at the bank. But I have so much things to do! It’s frustrating because I want to do everything I have in mind… But on the other side, I would just to do nothing at all… Anyway, next week, I will only be working at the bank if, of course, I do not get laid off in the meantime… What a life…
I also received my dividend from Bell Aliant Regional Communications Income Fund (BA.UN). I didn’t received any extra new unit, but I had received the whole 24.17$ in cash, which I deposit on my credit line.
Good news! I have a whole week off of my daytime job next week! It’s going to be awesome. I have off tomorrow from my evening job at the bank. But I have so much things to do! It’s frustrating because I want to do everything I have in mind… But on the other side, I would just to do nothing at all… Anyway, next week, I will only be working at the bank if, of course, I do not get laid off in the meantime… What a life…
Sunday, January 24, 2010
The Ping-Pong effect: the other way to manage your credit cards balance transfer
Wonder what I mean by the “ping-pong effect”? It’s sort of a credit card debt advice that I never read ANYWHERE.
Before getting in the deep of the ping-pong effect theory, I want to overview my debt situation. Paying debts had never really become one of my top priorities as I prefer to take my money and invest. But I try to keep a decent balance between the two. I have in debt what I can afford. I do not want to have a too tight budget. The best, of course, would be to have to debts at all. But did you know that having debts can actually help the economy? The trick is not to have too much debt and to have debt that you can afford. And also, the interest rate shouldn’t be too high. So there are important points to consider before opening a credit line, credit card or a loan. For now, my rule is simple, I do not want to get much more debts than what I have right now.
Here’s my debt management situation:
Line of credit #1: 4 831.44$ at 8%: yearly interest = 386.52$
Line of credit #2: 4 899.59$ at 3.5%: yearly interest = 171.49$
CIBC Visa: 3 086.91 at 3.9%: yearly interest = 120.39$
Student loan debt: 8 593.74 at 4.75%: yearly interest = 408.21$
Total of debts: 21 411.68$
Total of yearly interest: 1 086.60$
Having 21 411.68$ in debts could be seen enormous, but it’s truly not, and I am going to explain why I keep investing instead of paying debts. 8%, 3.5%, 3.9% and 4.75% are low interest rates. My next investment of tomorrow morning will bring my yearly dividend income to 3 154.83$. Remember? lol.
Let’s calculate:
my yearly dividend income – my yearly interest rate coming form current debts:
3 154.83$ - 1 086.60$ = 2 068.23$.
Now we are in business.
How am I going to benefit from CIBC Visa offer?
My CIBC Visa limit is of 5 000$. I already have 3 089.91$ on it. Which mean that I only have around 1 400$ available. 1 400$ at 3.9% interest for 8 months… How about that?
I am planning to make a 1 400$ payment on my TD credit line, which is at 8%. How am I going to make the payment? Credit card balance transfer won’t work in this case because I am planning to make a payment of 1 400$ on my credit line. This is exactly where the ping-pong effect comes in action.
I am going to make a cash advance of 1 400$ on my RBC Visa. Immediately after, I am going to pay RBC Visa using a promotional cheque coming from CIBC Visa. I won’t own anything to RBC Visa, except a 1.50$ for the cash advance (which I am going to pay right away too). With 1 400$ in my pocket, I will visit a TD branch and deposit 1 400$ on my TD credit line. And voilà.
This payment will reduce my TD credit line at 3 431.44$, for a yearly interest rate of 274.52$. The complete scheme:
Line of credit #1: 3 431.44$$ at 8%: yearly interest = 274.52$
Line of credit #2: 4 899.59$ at 3.5%: yearly interest = 171.49$
CIBC Visa: 4486.91 at 3.9%: yearly interest = 175$
Student loan debt: 8 593.74 at 4.75%: yearly interest = 408.21$
Total of debts: 21 411.68$
Total of yearly interest: 1 029.22$
1 086.60$ - 1 029.22$ = 57.38$ in savings!
Conclusion: lower interest rates = more money in your pocket!
I calculate the amount on a yearly interest rate. Of course, the CIBC Visa 3.9% interest rate is for 8 months only, not one year. But I got special offer for credit card on a regular basis, so I don’t worry too much about what’s going to happen in 8 months from now. As you can see, credit cards balance transfer is part of my debt management plan. The 3.9% interest rate coming from CIBC Visa might be one of the best interest rate for credit cards balance transfer on the market.
This is the reason why I like to have multiple credit cards. If you are willing to have multiple credit cards because you don’t have any yet and you want to do like me lol, be careful; do not open new credit cards at the same time: it will badly affect your credit. I own most of my credit card since 2004 or around that year. Most important part to remain a good level of credit score: make the minimum payment required on time. On that purpose, I recommend to apply for a pre-authorize debit for the minimum require each month. That way, you are being protected if you forget to make a payment. This is being credit smart.
How am I going to benefit from CIBC Visa offer?
My CIBC Visa limit is of 5 000$. I already have 3 089.91$ on it. Which mean that I only have around 1 400$ available. 1 400$ at 3.9% interest for 8 months… How about that?
I am planning to make a 1 400$ payment on my TD credit line, which is at 8%. How am I going to make the payment? Credit card balance transfer won’t work in this case because I am planning to make a payment of 1 400$ on my credit line. This is exactly where the ping-pong effect comes in action.
I am going to make a cash advance of 1 400$ on my RBC Visa. Immediately after, I am going to pay RBC Visa using a promotional cheque coming from CIBC Visa. I won’t own anything to RBC Visa, except a 1.50$ for the cash advance (which I am going to pay right away too). With 1 400$ in my pocket, I will visit a TD branch and deposit 1 400$ on my TD credit line. And voilà.
This payment will reduce my TD credit line at 3 431.44$, for a yearly interest rate of 274.52$. The complete scheme:
Line of credit #1: 3 431.44$$ at 8%: yearly interest = 274.52$
Line of credit #2: 4 899.59$ at 3.5%: yearly interest = 171.49$
CIBC Visa: 4486.91 at 3.9%: yearly interest = 175$
Student loan debt: 8 593.74 at 4.75%: yearly interest = 408.21$
Total of debts: 21 411.68$
Total of yearly interest: 1 029.22$
1 086.60$ - 1 029.22$ = 57.38$ in savings!
Conclusion: lower interest rates = more money in your pocket!
I calculate the amount on a yearly interest rate. Of course, the CIBC Visa 3.9% interest rate is for 8 months only, not one year. But I got special offer for credit card on a regular basis, so I don’t worry too much about what’s going to happen in 8 months from now. As you can see, credit cards balance transfer is part of my debt management plan. The 3.9% interest rate coming from CIBC Visa might be one of the best interest rate for credit cards balance transfer on the market.
This is the reason why I like to have multiple credit cards. If you are willing to have multiple credit cards because you don’t have any yet and you want to do like me lol, be careful; do not open new credit cards at the same time: it will badly affect your credit. I own most of my credit card since 2004 or around that year. Most important part to remain a good level of credit score: make the minimum payment required on time. On that purpose, I recommend to apply for a pre-authorize debit for the minimum require each month. That way, you are being protected if you forget to make a payment. This is being credit smart.
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