No news or the RSP loan yet but...

My stocks and units portfolio is now at 39 772.81$, which is an increase of 401.92$ compare to our latest 39 370.89$. Yeah! I wake up late again. Yesterday just exhaust me.

And now what?

I had an apointment today for my RSP loan. At first, the representative told me that I didn’t qualify. WHAT?

You hear it right. I do not qualify for the loan, in correctly correct banking terms and agreements. Whatever…. So yeah, the representative gave me the exact same reasons that Teeth post on his comments (see previous post and comments). But it didn’t stop there, I explain everything to the representative, my assets, my situation etc. Since I cannot be approve right away, I guess he will forward the request to someone else and I should received news by Wednesday. This had been quite exhausting for me. The main problem I face is that I hold too much credit. I hold several credit cards, several credit lines, several bank acounts lol. And my salary right now could appear low, but with my current situation + my monthly dividend income, I making around 2 000$ after taxes per month. Actually, at this point, I hold too much credit (use and unused) for the salary that I have. That’s a major problem. But I do not hold a balance on most of my credit cards. That’s what I explain to the representative and also I explain that I have more than 3 000$ in annual dividend income. And also that I never had problem to pay anything and that I was looking forward to transfer my portfolio over to the bank and so on. Which is true. And I also show him that I am a stockholder of the bank.

So now what? I am waiting. And the wait is too long. I just want to get through this and move forward with my projects. I want to see what’s going to happen next. If it work, I am going to transfer my portfolios over and everything. I also told the representative about my 100 000$ goal in assets and that they were going to make money with me (the bank) since I trade on a regular basis. Having 100 000$ in assets is quite something, even when holding a future 30 000$ in debts. Getting this RSP loan is more about if the bank will support my investment efforts or not. If I get the loan, it will a great deal of good publicity for the bank and their trading services. I deserve more than anything this RSP loan. After all, I am an investor, and I own more than 65 000$ in my very own money lol and around 20 000$ in debts at this time. I hold debts yes, and I exposed that to the representative, but I am good when it come to manage my money. If it all work out the way I want, I will be trading at 9.99$ and I will become fantasticly rich. I couldn’t hide my debt situation in something sexy like my bra lol – those guys can really see everything through their credit check.

My stock investment portfolio in date of February 6, 2010

Savings:
2.69$ (ING Direct)


Non RSP Investments:
Stocks & Units investment portfolio
Sprott Inc. (SII): 2 070.50$
Timminco (TIM): 220$
Blue Note Mining (BNT): 58$
Bank of Nova Scotia (BNS): 4 777.50$
Hanwei Energy Services (HE): 180$
Methanex Corporation (MX): 2 501.87$
Fortis (FTS): 2 865.20$
Pembina Pipeline Income Fund (PIF.UN): 7 216$
Just Energy Income Fund (JE.UN): 5 887.08$
Dumont Nickel Inc. (DNI): 460$
Yellow Pages Income Fund (YLO.UN): 2 231.25$
Bell Aliant Regional Communications Income Fund
(BA.UN): 2 540$
Pengrowth Energy Trust (PGF.UN): 1 147.98$
Enbridge Income Fund (ENF.UN): 3 654.20$
Corby Distilleries Limited (CDL.A): 1 520$
Davis + Henderson Income Fund (DHF.UN): 1 652$

TOTAL: 38 981.58$

Tax-free savings account:
RBC O'Shaughnessy Canadian Equity Fund:
2 502.17$
Creststreet Alternative Energy Fund: 1 192$
Sprott Canadian Equity Fund: 4 666$

TOTAL: 8 360.17$

RSP:
CIBC Dividend Growth Fund: 470.62$
CIBC Emerging Markets Index Fund: 419.94$
CIBC Monthly Income Fund: 934.78$
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: 111.79$
TD Monthly Income: 96.25$
TD Emerging Markets: 75.87$
TD Energy: 77.71$
TD Precious Metals: 96.86$
TD Latin American Growth: 87.12$
TD Entertainment & Communications: 97.87$
TD Dividend Growth: 182.63$
TD U.S. Mid-Cap Growth: 92.90$

Maritime Life International Equity Fund (Templeton):
624.39$
Manulife Simplicity Growth Portfolio: 829.27$
Maritime Life CI Harbour Seg Fund: 954.65$
Maritime Life Fidelity True North Seg Fund: 906.48$
Maritime Life Trimark Europlus Seg Fund: 583.96$

Great West - Various: 1 577.81$

RBC Canadian Dividend Fund: 471.94$
RBC U.S. Mid-Cap Equity Fund C$: 1 661.20$
RBC Global Resources Fund: 801.50$
RBC O'Shaughnessy International Equity Fund:
572.91$
RBC O'Shaughnessy All-Canadian Equity
Fund: 938.44$

GIC Canadian Market: 1 000$

TOTAL: 17 841.21$

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

Savings + Stocks, units, mutual funds + Tax-free savings account + RRSP + Online Income (60.29$):
65 285.94$
[In date of February 6, 2010]

Holding debts can be healthy: here’s the how

My latest posts were quite provocative but they help me to feel better. And I have to say, I am feeling much much better now lol. I wasn’t expecting any reaction from my too much provocative posts, but the comment left by Teeth make me think of this – I am being read lol.

Ok, I hold some debts. And so what? My debts are not disturbing me at all. By having debts, I am helping the Canadian economy. Because a low amount of debts do help the economy. You could believe that having debt is not helping me any way. You might be right, but I think you are wrong! And here’s my point.

In life like in everything else, you need to know what you want. Right now, what I want is to reach 100 000$ in assets, with or without debts. Just that. I am just a nobody dreaming of having 100 000$ in assets. Is it a shame? I just want to have fun with my money and paying debts is not fun. It’s actually really boring.

Here’s my debt situation:

8 517.94$ at 4.75% = 404.60$ in annual interest
4 817.03$ at 3.5% = 168.60$ in annual interest
4 436.21$ at 3.9% = 173.01$ in annual interest
3 587.13 at 8% = 286.97$ in annual interest

+ 10 500$ (RSP loan of Monday) at 3.25% = 341.25$

Total in annual interest = 1 374.43$

Ohhhhhh outrageous debts! Outrageous interest! Oh lala.

Let’s get a straight overview of the situation.

Currently, my annual dividend income is of 3 323.59$. This is of course, before taxes. But even after taxes, I probably earn the equivalent of 1 374.43$ in dividend income, if not more.

So let’s calculate:

1 374.43$ (annual interest) – 1 374.43$ (annual dividend income) = 0$

At the end, I do not pay any interest at all from the money I had borrowed. This is free money! Pretty amazing! This is a trick I learn by reading Derek Foster. Now you understand why Derek Foster is a bestseller author, don’t you? Derek Foster is the best friend of all small investors like myself.

The plan is making sense as long as I can afford making the minimum payment for each loans I am involve in. I have a five star credit score, I do not want to loose that. I can afford making the minimum payment for everything. But before getting involved in a early retirement, all of my debts will be fully paid off. Of course. And if, at a point, I couldn’t afford making the minimum payments on my loans anymore, I would simple sell some of my investments.

After reading all this, if you still think that the whole plan is not making any sense, it’s because you might be one of them. You might be a BMO Bank of Montreal employee after all.

The 100 000$ investment portfolio strategy: how I plan to make it happen even after I got laid off by BMO Bank of Montreal

Even after I got laid off by BMO Bank of Montreal, my ultimate goal is still to reach the 100 000$ in investment portfolio value. It’s going to happen in 2010, and I am going to explain how its all going to work out.

Ok, so here’s how it goes:

On date of February 6, 2010, I had 65 285.94$ in assets. Awesome. At that point, I am currently only missing 34 714.06$. At this point of my life, I am pretty impressed by myself. But still, I am missing 34 714.06$.... Where am I going to find the money?

No worries. This is how it’s going to goes, in just a few steps:

1. Dividend earnings

With the investment that I currently hold, as I explain in the previous post, I am going to earn 3 323.59$. My dividend earnings represent an extra income. At 3 323.59$, the amount is quite important. Let’s move on:

34 714.06$ - 3 323.59$ = 31 390.47$

Nice, but there’s still missing 31 390.47$.

2. RSP Loan

For 2009, I have more than 10 500$ to invest in my RSP. So I am going to invest yes, but it will be with the help of my dearest friends of Bank of Nova Scotia (BNS) – which institution partly belong to me by the way since I am a stockholder. I didn’t get the loan yet, but I have an appointment on Monday and I might be able to get the loan, since I am already fantastically rich.

31 390.47$ - 10 500$ = 20 890.47$.

Now we are talking. Only missing 20 890.47$. But yes, 20 890.47$ is still a lot of money!

3. Natural increase earnings

Because of our extra particular successful way of investing, out portfolio is going to simply grow naturally. I like to be super optimistic. I am going to advance an increase of 10%. It’s a lot, but possible.

65 285.94$ (portfolio value in date of February 6, 2010) + 10 500$ (of the RSP loan)
= 75 785.94$ (WOW!)

75 785.94$ x 10% = 7 578.59$

20 890.47$ - 7 578.59$ = 13 311.88$

Much much better! At this point, I will only be missing 13 311.88$ before reaching my first

100 000$.

4. Normal investment flow: one investment every 2 months or so

Since forever now, it’s seem, I invest on a regular basis. For the rest of 2010, I might be able to invest the equivalent of 13 311.88$, even if I got laid off by BMO Bank of Montreal. Major benefit: my prospective investments are all dividend payers. So each 2 months, I increase my dividend income and also the value of my total assets.

Need a clear example? Probably next month or so, my next investment plan is 200 stocks of Premium Brands Holdings Corporation. The advantages of adding Premium Brands Holdings Corporation in my investment portfolio are multiples. First, stocks of Premium are under 15$, which make Premium Brands Holdings Corporation pretty affordable. Also, Premium dividend is quite juicy: 1.176$ per stock! At 200 new stocks, this will increase my dividend earnings of 235.20$! And don’t forget to add the value of the stocks itself: let’s say 13.70$ per stock: 2 740$. If, in a year, I repeat the same circus, but of course with different companies, not only that I will become fantastically rich, but I will be able to reach my first 100 000$ in 2010. Got the picture? So what are you waiting for? Shouldn’t you doing the exact same thing? :o)

BMO Bank of Montreal: worst financial institution of Canada history

Thanks to the TSX gains of today, my stocks and units portfolio is now at 39 228.25$, a nice gain of 246.67$. I guess my mutual funds and other might also gain in value. Little gain is better than nothing at all. My DRIP strategy is working quite well. I gain extra units and stocks lately, which really help to increase my dividend income. There again, the gain are not spectacular, but quite interesting. BMO Bank of Montreal did a major mistake when they decided to fire me because of their lack of leadership: they fired the best small investor of all… And they are not even aware of it. I know, it must be difficult to accept for BMO Bank of Montreal, they unfairly laid off one of the greatest investor of all. Taught it was going to kill me? Nope. I got enough of the BMO InvestorLine and all that BMO shit. Anyhow, back on date of January 24, my annual dividend income was of 3 154.33$ and here it is now, on date of February 11, 2010:

Sprott Inc. (SII): 505 stocks x 0.10$ + (let’s suppose Sprott Inc. will provide a special dividend like last year) = 126.25$
Bank of Nova Scotia (BNS): 105 stocks x 1.96$ = 205.80$
Methanex Corporation (MX): 103 stocks x 0.62$ = 63.86$
Fortis (FTS): 104 stocks x 1.12$ = 116.48$
Pembina Pipeline Income Fund (PIF.UN): 410 units x 1.56$ = 639.60$
Just Energy Income Fund (JE.UN): 423 stocks x 1.24$ + the 2010 special dividend =
606.72$
Yellow Pages Income Fund (YLO.UN): 425 units x 0.804$ = 341.70$
Bell Aliant Regional Communications Income Fund (BA.UN): 100 units x 2.904$ = 290.40$
Pengrowth Energy Trust (PGF.UN): 106 units x 0.84$ = 89.04$
Enbridge Income Fund (ENF.UN): 302 units x 1.152$ = 347.90$
Corby Distilleries (CDL.A): 100 stocks x 0.56$ = 56$
Davis + Henderson Income Fund (DHF.UN): 100 units x 1.836$ = 183.60$
+ let’s add 100$, supposing the DRIP system will provide an extra income of 100$
= 3 167.35$

Compare to January 24, 2010, this is an interesting gain of:

13.02$

Ok, nothing to be very exciting about right, but what if I gain an extra 13.02$, on top of my dividend earning, every single months? Now, this is getting quite interesting!

13.02$ x 12 months = 156.24$ + 3 167.35$ = 3 323.59$ in free money! Interesting. This is what I call the power of money. Thanks to Derek Foster, I almost better than Eric Sprott at the investing game lol. The TSX is a rocket star and I am soon going to be a six figure investor. Isn’t nice?

Investing is fun, but its require a lot of time and energy. Ok, I am getting free money from my investment, but still, I have to keep track of everything and I am doing this on a daily basis. On top of that add my 2 jobs and my writing activities on HubPages. Yes, its hard work, but its not that hard. Its just about keeping track to make sure everything remain on a kind of normal state for the companies I decided to invest in. The 12 companies I had invested in for the dividend are well established. Nothing to worry about. But just for precaution, I follow everything. Just in case. And I haven’t been dumb enough to invest in BMO Bank of Montreal stocks if you see what I mean. I am not calling myself a genius worker for nothing see.

I was very happy to learn recently that a group of people working for BMO Nesbitt Burns had decided to sue BMO Bank of Montreal for unpaid extra hours. Can you believe, BMO Bank of Montreal didn’t pay overtime hours – not for a month or 2 – but for the whole period of 2002-2010. Time had come to BMO Bank of Montreal to face the reality. I am making my coming out about my lay off at BMO Bank of Montreal to be supportive to those employees who haven’t been paid by my late employer. To them I would like to say: don’t worry, those f****** are going to pay! Juroviesky and Ricci LLP are taking care of the case.

BMO Bank of Montreal is in real bad shape. Fact is, running after profit and sales won’t help in any matter BMO Bank of Montreal. Laying off good employees either like myself either. And not paying overtime is a really really bad idea. Guess the CEO of BMO Bank of Montreal has a lot to learn. Finally, BMO Bank of Montreal got what it deserves. But we couldn’t exept much more from BMO Bank of Montreal.

About my passive income: dividend earnings and making money online

Those last couple of days had been quite good. I am looking forward to write more articles on HubPages. I find it quite relaxing to write on HubPages. My latest article is about Chloé Sainte-Marie and her latest album in Innu native language. I plan to publish other articles on HubPages in the upcoming days. I have tones of ideas for articles. I might me able to reach the 100 articles on HubPages really soon since I lost one of my job recently and have a lot more times on my hands. While trying to make money on HubPages, I can still rely on my dividend income.

And the month of February is going to be very great for our dividend income! We are currently waiting for the following:

Pengrowth Energy Trust (PGF.UN), 7 cents per unit: 7.42$

Enbridge Income Fund (ENF.UN), 9.6 cents per unit: 28.99$

Bell Aliant Regional Communications Income Fund (BA.UN), 24.17 cents per unit:

24.17$

Pembina Pipeline Income Fund (PIF.UN), 13 cents per unit:

53.30$

Yellow Pages Income Fund (YLO.UN), 6.67 cents per unit:

28.014$

Just Energy Income Fund (JE.UN), 10.333 cent per unit: 43.30$

Davis + Henderson Income Fund (DHF.UN), 15.33 cents per unit: 15.33$

For a total of 200.22$!

Ok, 200.22$ is not a fortune, but its money I made by doing nothing at all and I am pretty proud of it! This is actually my own definition of passive income: money earn by doing nothing at all. But HubPages income won’t enter in this category, because I really work hard on those articles! Actually, among the way, I find out that it’s easier to make money out of dividend than making money online. At least this is the reality for me.

When it comes to make money online, I am not very successful. But I saw my online income growing while using HubPages previously this summer. So I truly recommend HubPages to anyone who is willing to make money online on their free time. Let’s say that for now, when it comes to dividend income and online income; I am on a getting-rich-slowly scheme.

My review of BMO InvestorLine

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.

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.

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]