My debt situation on date of April 13, 2023

Margin Account Debt: $46,115.99 at 8%

Annual Interest: $3,689.28

As of April 13, 2023

For a complete update on my debt situation, please click on the label "Debt Situation" located in the right column of this blog.

Experiencing my highest net worth ever: $369,820.54

It has never been complicated. To be in a good financial state, I need the TSX to be at 20,000 points. And from there, my investment portfolio can grow properly. Today, as I watched my TSX reach 20,400 points, I knew I was onto something! My non-registered portfolio closed today's session at $145,979.58, my US portfolio at $7,370.06 CAD, my TFSA portfolio at $130,277.63, and my RRSP stocks-only portfolio at $67,502.81.

I have over $400,000 in total assets, and my net worth is now very close to $370,000, sitting at $369,820.54. I am happy that I updated my investment portfolio this evening, as I hadn't done so in a while. The month of March had been quite busy, and I had been observing my stocks and other investments from a distance without much involvement on my part.

Some areas in Quebec and Ontario, including Montreal, had dealt with the effects of an ice storm. It might be challenging to live in Montreal these days. I hope the street where my apartment is located is doing okay. I actually have a massive tree facing my window, and here's what it looks like during winter:

I am planning to return to Montreal sometime in May. In the meantime, I am continuing my adventure in decluttering. I have made some exciting discoveries, which I have shared on my Twitter account. Posting on Twitter occasionally is enjoyable as it doesn't demand a lot of my time. Feel free to follow me there, I am right here :-)

Fortunately, I don't have much to declutter in terms of clothes. I have what I need, especially here in New Brunswick. The same goes for makeup and beauty products, as I am being quite reasonable these days. However, my main challenge is dealing with sentimental items, books, papers, old academic notes, and pictures. Being 42 years old, I have a lot of printed pictures from when I was younger, and most of the time, I printed "double" copies. So, it's like having duplicates to take care of, and sometimes it takes time to figure out that I actually have a set in duplicate... you know what I mean? I have finished decluttering my pictures, but I still have some books and old academic notes to go through. I have one small suitcase and about 5 large plastic bins left to tackle. My goal is to minimize the amount of stuff I keep, as I will eventually have to bring it with me to Montreal, sooner or later.

Personally, decluttering is something I have to do periodically. Typically, when I return to Montreal after spending a few weeks or even months in New Brunswick, I engage in decluttering. It's really helpful because being away from my belongings for a while allows me to easily identify clothes and items that I no longer need. Usually, I leave the clothes I no longer wear in Montreal. Living between Montreal and New Brunswick has its pros and cons. I enjoy spending time in both places. I left my hometown when I was around 20 or 21, but I always came back, though I moved around quite a bit in the meantime. That's why I left most of my sentimental items in New Brunswick. It hasn't been a problem, but now that I am almost 43 years old and my parents are getting older, I feel the need to bring all my belongings with me to Montreal, with a few exceptions. I am leaving my printed pictures and photo albums in New Brunswick, along with some winter clothes.

Decluttering sentimental items is probably one of the most challenging tasks, and it's what I am currently dealing with. However, I am fortunate to have the luxury of time and can thoroughly go through these items. What remains to be done are the items that have been in storage for a long time (in those infamous plastic bins and that little grey suitcase), as they were previously put away during a major decluttering session. I am determined to go through these items and assess what I can let go of. Among these things are academic notes, papers, and books - my usual sentimental items.

My bedroom in New Brunswick is a good size, not too big, but spacious enough. My wardrobe was filled with my mother's clothes, but I had packed my usual stuff in there, not clothes. My bed had drawers, and the contents were mine. I had a small library with a mix of my mom's items and some of my books. Next, I had a beautiful wooden chest of drawers that my father built decades ago, which held a combination of my things and my father's clothes (that's where I found my old New Kids on the Block tapes, lol). I also had a dresser that mostly contained my clothes and belongings, along with some of my mother's items. Then, I had a side table with two drawers that held my things. Finally, I had a desk table with drawers, and in one of them, I found... floppy disks... This gives you an idea of what I had to go through. However, I can proudly say that I am done with decluttering my bedroom. I tackled this task by working on one section at a time. At one point, I had a lot of stuff on the floor, but I left it there and decluttered it when I had time. Having everything out really helped.

I have significantly reduced the number of sentimental objects and papers that I keep. I took a lot of pictures of documents and notes that I wanted to preserve, and once I had taken the pictures, I got rid of the papers. It was the only way I could move forward with this process. I am not against keeping sentimental items, but in my case, it had become too much.

In fact, I enjoy the process of decluttering because it allows me to go through all of my belongings and documents. I actually find going through those documents enjoyable. In my case, I could say I am an intellectual hoarder. I don't mind reading through those things because, after so many years, it's like a refresher. It's like I am transported back in time.

Historic of my Total assets and Net worth values on date of April 11, 2023

2023

Total in assets: $415,945.38/Net worth: $369,820.54: April 11, 2023 - My highest net worth value EVER!!!

Total in assets: $413,311.52/Net worth: $366,524.01: February 13, 2023

Total in assets: $411,186.99/Net worth: $364,399.48: February 10, 2023

Total in assets: $408,656.95/Net worth: $361,844.12: February 7, 2023

Total in assets: $407,606.87/Net worth: $361,043.28: January 17, 2023

Total in assets: $405,708.89/Net worth: $359,060.31: January 16, 2023

Total in assets: $404,983.22/Net worth: $358,324.64: January 13, 2023

Total in assets: $403,429.72/Net worth: $356,771.14: January 12, 2023

Total in assets: $399,232.95/Net worth: $352,574.37: January 11, 2023

Total in assets: $396,629.76/Net worth $349,971.18: January 10, 2023

Total in assets: $395,568.27/Net worth $348,909.69: January 9, 2023
Total in assets: $393,444.59/Net worth $346,786.01: January 6, 2023

2022

Total in assets: $384,602.29/Net worth $337,875.65: December 30, 2022

Total in assets: $394,205.35/Net worth $347,621.02: November 25, 2022

Total in assets: $383,659.43/Net worth $337,227.95: November 11, 2022

Total in assets: $373,493.10/Net worth $327,061.62: November 4, 2022

Total in assets: $356,147.14/Net worth $309,920.82: October 11, 2022

Total in assets: $396,620.95/Net worth $350,590.82: August 14, 2022

Total in assets: $369,523.83/Net worth $323,815.43: June 24, 2022

Total in assets: $367,287.71/Net worth $321,579.31: June 20, 2022

Total in assets: $364,145.55/Net worth $318,437.15: June 18, 2022

Total in assets: $398,010.84/Net worth $352,164.94: June 2, 2022

Total in assets: $385,843.39/Net worth  May 20, 2022: $340,156.47

Total in assets: $407,547.23/Net worth $361,442.42: April 20, 2022 

Total in assets: $405,658.35/Net worth $358,941.11: March 29, 2022

Total in assets: $403,792.28/Net worth $357,075.04: March 25, 2022

Total in assets: $402,081.01/Net worth $355,363.77: March 22, 2022

Total in assets: $400,979.64/Net worth $354,262.40: March 21, 2022 - First time I ever hit on the $400,000 in total assets!

Total in assets: $398,652.13/Net worth $352,071.24: March 18, 2022 - First time I ever hit on the $350,000 in net worth value!

Total in assets: $396,355.91/Net worth $349,713.01: March 10, 2022

Total in assets: $393,037.13/Net worth: $347,573.53: March 4, 2022

Total in assets: $391,766.36/Net worth: $345,622.80: February 9, 2022

Total in assets: $382,726.19/Net worth: $341,862.36: February 2, 2022

Total in assets: $386,320.32/Net worth: $340,128.37: February 1st, 2022

2021

Total in assets: $385,979.66/Net worth: $339,434.39: December 31, 2021

Total in assets: $382,726.19/Net worth: $336,268.16: December 23, 2021

Total in assets: $388,421.37/Net worth: $340,312.77 - FIRST TIME I EVER REACHED A $340,000 NET WORTH!
November 8, 2021

Total in assets: $387,068.51/Net worth: $338,959.91: November 5, 2021

Total in assets: $384,785.92/Net worth: $336,781.52: October 20, 2021

Total in assets: $382,580.80/Net worth: $334,576.40: October 19, 2021

Total in assets: $379,263.95/Net worth: $330,680.17: October 14, 2021

Total in assets: $364,072.52/Net worth: $315,407.64: July 26, 2021
Total in assets: $358,867.59/Net worth: $311,858.22: June 15, 2021
Total in assets: $354,774.64/Net worth: $307,559.30: June 10, 2021
Total in assets: $348,042.77/Net worth: $300,799.45 - FIRST TIME I EVER REACHED 300k in net worth, on May 26, 2021
Total in assets: $346,583.88/Net worth: $298,486.93: May 20, 2021
Total in assets: $349,651.45/Net worth: $298,435.31: May 7, 2021
Total in assets: $347,002.53/Net worth: $297,614.64: April 16, 2021
Total in assets: $338,188.16/Net worth: $287,914.75: March 11, 2021
Total in assets: $333,970.92/Net worth: $283,675.99: March 9, 2021
Total in assets: $328,881.12/Net worth: $279,611.57: February 10, 2021
Total in assets: $326,670.02/Net worth: $278,758.37: February 8, 2021
Total in assets: $324,891.52/Net worth: $276,979.87: February 4, 2021
Total in assets: $322,236.52/Net worth: $274,318.36: February 3, 2021
Total in assets: $327,639.01/Net worth: $274,298.23: January 19, 2021
Total in assets: $316,192.85/Net worth: $268,180.14: January 7, 2021
Total in assets: $313,003.95/Net worth: $264,915.22: January 6, 2021
Total in assets: $310,587.36/Net worth: $262,498.63: January 5, 2021

2020
Total in assets: $310,392.38/Net worth: $259,661.24: December 31, 2020
Total in assets: $307,812.05/Net worth: $259,070.79: December 24, 2020
Total in assets: $306,444.25/Net worth: $258,948.73: December 4, 2020
Total in assets: $304,701.39/Net worth: $257,331.58: November 27, 2020
Total in assets: $300,956.84/Net worth: $253,587.03: November 24, 2020
Total in assets: $298,903.01/Net worth: $251,533.20: November 23, 2020
Total in assets: $296,643.60/Net worth: $249,158.71: November 20, 2020
Total in assets: $294,514.87/Net worth: $247,145.87: November 11, 2020
Total in assets: $291,172.40/Net worth: $243,802.59: November 10, 2020
Total in assets: $287 803.13/Net worth: $240 433.32: November 9, 2020
Total in assets: $277,872.92/Net worth: $226,678.26: August 5, 2020
Total in assets: $276,627.27/Net worth: $227,745.47: June 6, 2020
Total in assets: $263,304.63/Net worth: $211,395.63: April 29, 2020
Total in assets: $241 461,13/Net worth: $194 558,29: March 13, 2020
Total in assets: $282,640.61/Net worth: $235,284.72: February 21, 2020
Total in assets: $304,955.72/Net worth: $257,187.44: February 12, 2020
Total in assets: $296,200.07/Net worth: $250,595: January 16, 2020
Total in assets: $292,715.58/Net worth: $244,970.41: January 9, 2020

2019
Total in assets: $288,237.52/Net worth: $239,582.44: December 31, 2019
Total in assets: $278,823.27/Net worth: $230,902.04: September 17, 2019
Total in assets: $271,896.19/Net worth: 226,137.05: June 24, 2019
Total in assets: $269 950.21/Net worth: $222 942.87: April 5, 2019
Total in assets: $251 634.94/Net worth: $206 278.84: January 18, 2019
Total in assets: $238 656.07/Net worth: $191 009.83: January 4, 2019

2018
Total in assets: $270 679.86/Net worth: $204 306.57: November 16, 2018
Total in assets: $332 750.88/Net worth: $232 609.15: August 3, 2018
Total in assets: $331 413.83/Net worth: $232 280.40: June 20, 2018
Total in assets: $326 085.75/Net worth: $226 801.92: June 3, 2018
Total in assets: $322 479.23/Net worth: $222 850.15: May 4, 2018
Total in assets: $319 644.86/Net worth: $217 246.23: March 16, 2018

2017
Total in assets: $318 544.64/Net worth: $221 989.65: December 29, 2017
Net worth on the date of November 17, 2017: $211 430.89
Net worth on the date of October 27, 2017: $212 633.39
Net worth on the date of September 29, 2017: $206 352.49
Net worth on the date of April 24, 2017: $204 277.66
Net worth on the date of March 31, 2017: $200 325.69
Net worth on the date of March 29, 2017: $198 299.73
Net worth on the date of March 18, 2017: $193 969.21

2016
Net worth on the date of December 30, 2016: $184 074.35

Net worth after debt on the date of January 1, 2014:
$101 172.99 (yes, finally, IN NET WORTH!).

On the date of February 16, 2011, the TMX hit 14 000+ points, and I exceeded the 150k in assets! (Not net worth yet).

On September 9, 2010, I reached $100,000 in assets! (not in net worth yet).

On the date of August 5, 2009, I reached my investment goal: I reached $50 000 worth of assets! (NOW, net worth).

On the date of December 5, 2009, I had exceeded $60 000 in assets! (not in net worth yet).  

My investment portfolio on date of April 11, 2023

Cold cash: $16,893.03

Stocks and Units investment portfolio $CAN 

Bank of Nova Scotia (BNS)

Methanex Corporation (MX)

Fortis Inc. (FTS)

Pembina Pipeline Corporation (PPL)

iShares S&P/TSX Capped REIT Index (XRE)

New Flyer Industries Inc. (NFI)

TMX Group Inc. (X)

K-Bro Linen Inc. (KBL)

TransCanada Corp (TRP)

Canadian National Railway Co (CNR)

Enbridge Inc. (ENB)

Emera Inc. (EMA)

Loblaw Companies (L)

Savaria Corporation (SIS)

WSP Global Inc. (WSP)

George Weston Limited (WN)

Power Corporation of Canada Subordinate Voting Shares (POW)

BCE Inc. (BCE)

Canadian Imperial Bank Of Commerce (CM)

Brookfield Asset Management Inc. Class A Limited Voting Shares (BAM.A)

TOTAL: $145,979.58   

Stocks and Units investment portfolio $US:

Berkshire Hathaway Inc. (BRK.B)

General Mills Inc. (GIS)

Vanguard Russell 1000 Growth Index Fund (VONG)

Pfizer Inc. (PFE) 

TOTAL: $5,480.82 US: $7,370.06 CAN

 

Tax-free savings account (TFSA):

Dumont Nickel Inc. (DNI)

CT Real Estate Investment Trust (CRT.UN)

Canadian National Railway Co (CNR)

Exchange Income Corporation (EIF)

Brookfield Infrastructure Partners L.P. (BIP.UN)

Brookfield Renewable Energy Partners L.P. (BEP.UN)

Andrew Peller Limited (ADW.A)

Toronto-Dominion Bank (TD)

Boyd Group Services Inc. (BYD)

Canadian Apartment Properties Real Estate Investment Trust (CAR.UN)

Data Communications Mgmt (DCM)

Royal Bank of Canada (RY)

Park Lawn Corporation (PLC)

Toromont Industries Ltd (TIH)

BCE Inc. (BCE)

Boralex Inc. Class A Shares (BLX)

Savaria Corporation (SIS)

Northland Power Inc. (NPI)

Calian Group Ltd. (CGY)

Canadian Utilities Limited (CU)

WSP Global Inc. (WSP)

Granite Real Estate Investment Trust (GRT.UN)

Cargojet Inc. (CJT)

Nutrien Ltd. (NTR)

TFI International Inc. (TFII)

Canadian Imperial Bank Of Commerce (CM)

SIR Royalty Income Fund (SRV.UN)

ATCO Ltd. (ACO.Y)

Aecon Group Inc. (ARE)

Brookfield Asset Management Inc. Class A Limited Voting Shares (BAM.A)

Metro Inc. (MRU)

Alimentation Couche-Tard Inc. (ATD.A)

Fortis Inc. (FTS)

CGI Inc. (GIB.A)

TMX Group Limited (X)

Brookfield Infrastructure Corporation Class A Exchangeable Subordinate Voting Shares (BIPC)

Brookfield Renewable Corporation Class A Exchangeable Subordinate Voting Shares (BEPC)

Suncor Energy Inc. (SU)

Rogers Communications Inc. (RCI.B)

Telus Corp (T)

JFT Strategies Fund Class A Units (JFS.UN)

Bitcoin Fund The Class A units (QBTC)

Purpose Bitcoin ETF CAD ETF non-currency hedged units (BTCC.B)

3iQ CoinShares Ether ETF (ETHQ)

Tilray Inc (TLRY)

North West Company Inc. (The) (NWC)

Bank of Nova Scotia (BNS)

National Bank of Canada (NA)

Stelco Holdings Inc. (STLC)

Hammond Manufacturing Company Limited Class A Subordinate Voting Shares (HMM.A)

Saputo Inc. (SAP)

Labrador Iron Ore Royalty Corporation (LIF)

Intertape Polymer Group Inc. (ITP)

Parex Resources Inc. (PXT)

Wescan Energy Corp. (WCE)

Verde Agritech Plc Ordinary Shares (NPK)

Wajax Corporation (WJX)

Whitecap Resources Inc. (WCP)

Goodfellow Inc. (GDL)

Algonquin Power & Utilities Corp. (AQN)

TOTAL: $130,277.63

RSP investment portfolio: 

Emera Incorporated (EMA)

Ovintiv Inc. (OVV)

Toronto-Dominion Bank (TD)

Telus Corp (T)

Royal Bank of Canada (RY)

Savaria Corporation (SIS)

Thomson Reuters Corporation (TRI)

Park Lawn Corporation (PLC)

Richards Packaging Income Fund (RPI.UN)

Toromont Industries Ltd (TIH)

CAE Inc. (CAE)

CGI Group Inc. Class A Subordinate Voting Shares (GIB.A)

Boralex Inc. Class A Shares (BLX)

Quebecor Inc. (QBR.B)

Logistec Corporation Class B Subordinate Voting Shares (LGT.B)

Brookfield Renewable Partners L.P. (BEP.UN)

Leon's Furniture Limited (LNF)

Bank of Nova Scotia (BNS)

Brookfield Renewable Corporation Class A Exchangeable Subordinate Voting Shares (BEPC)

Cascades Inc. (CAS)

JFT Strategies Fund Class A Units (JFS.UN)

AirBoss of America Corp. (BOS)

Suncor Energy Inc. (SU)

Pender Growth Fund Inc. (PTF)

Rogers Communications Inc. Class B Non-voting Shares (RCI.B)

ATS Automation Tooling Systems Inc. (ATA)

Algoma Central Corporation (ALC)

Finning International Inc. (FTT)

Guardian Capital Group Limited (GCG)

Information Services Corporation Class A Limited Voting Shares (ISV)

Interfor Corporation (IFP)

Maple Leaf Foods Inc. (MFI)

National Bank of Canada (NA)

Nutrien Ltd. (NTR)

Open Text Corporation (OTEX)

Taiga Building Products Ltd. (TBL)

Vitreous Glass Inc. (VCI)

Power Corporation of Canada Subordinate Voting Shares (POW)

North West Company Inc. (The) (NWC)

Whitecap Resources Inc. (WCP)

Parex Resources Inc. (PXT)

North West Company Inc. (The) (NWC)

Wajax Corporation (WJX)

Canadian Imperial Bank Of Commerce (CM)

Total: $67,502.81

CIBC Dividend Growth Fund + CIBC Emerging Markets Index Fund + CIBC Monthly Income Fund: $3,359.38

Others: $1,159.90

NBI Income Fund: $1,254.02

Manulife Fidelity NorthStar GIF CAP

Manulife Simplicity Growth Portfolio 

Maritime Life CI Harbour Seg Fund

Maritime Life Fidelity True North Seg Fund

Manulife GIF MLIA B World Invest

Total: $8,360.25

Other various: $33,702.32

TOTAL: $115,338.68

Social Capital at Desjardins Membership share: $35

Online money: $51.40

Savings + Stocks, units, mutual funds + Tax-free Savings account + RRSP:

TOTAL: $415,945.38

On the date April 11,2023

My debt situation on date of April 11, 2023

Margin Account Debt: $46,124.84 at 8%

Annual Interest: $3,689.99

As of April 11, 2023

For a complete update on my debt situation, please click on the label "Debt Situation" located in the right column of this blog.

The Challenges of Letting Go some Stuff: My Decluttering Adventure in New Brunswick

We are getting closer to the month of May, which is the month I depart for Montreal, and I am doing everything I possibly can to declutter all the little possessions I still have here in New Brunswick. Today, I decluttered my bedroom. I still have to go through some of my stuff, but I am pretty well advanced. I went through the exact same process a few years ago, so this time it's not as bad as it used to be. However, I still found some old floppy disks that were carefully hidden in my wardrobe. I went through them and saved the content on my laptop. All this decluttering is quite an annoying task, and I really dislike it, but it needs to be done. While going through the process, I found something really special... If you don't want to miss anything, follow me on Twitter at @SunnyJNB.

I had a big box with my name on it in my wardrobe, but I had no idea what was inside until I opened it. It's a messy mix of photographs - some with people I don't even recognize lol - hockey cards that belong to my brother (did I steal them from him? I don't remember...), pictures in frames, etc. So, I have to go through the box carefully. Today, I spent basically the whole day in my bedroom, and I'm not even finished yet. I prefer to do this when I have enough time to do it peacefully without rushing, which is now.

Imagine a situation where my parents finally find an apartment they like and decide to sell the house. I'll have to help pack not only their things but also mine. Like, come on, it doesn't make any sense. My brother is pretty neat in the sense that none of his stuff is here anymore, but a lot of mine still is. I doubt my parents will have the opportunity to sell the house anytime soon because there aren't enough apartments around here. However, there will come a time when my parents won't be here anymore and my stuff will need to find a new home.

After finishing my bedroom, my next step will be the basement, where I have about 5 to 6 plastic bins (from what I remember) full of stuff - mostly books and papers. I also have one suitcase full of what I used to tell my parents were "important papers"... I want to go through that suitcase. Once I'm done with everything, I'll try to figure out the moving process. It's not an emergency situation, but I need to figure out how to take the remaining items I want to keep and bring them to Montreal. I have a few options for how to proceed.

I can do this gradually when I visit New Brunswick since I am allowed two suitcases on the bus. Luckily, the bus ride from Riviere-du-Loup to Montreal is direct. I'm used to traveling with a lot of luggage. It's not the first time I'm moving stuff around using the bus. Before, it was even easier because I could ship some stuff from New Brunswick to Montreal and vice versa on the bus. However, I don't think that service is available anymore, since there's no bus between Riviere-du-Loup and New Brunswick. There are always ways to make things work out. One option would be to ship my stuff from Riviere-du-Loup to Montreal, since my old folks always give me a ride to Riviere-du-Loup anyway.

The situation is not desperate. I think it's always better to have all of your belongings in one place, in one home. This being said, I plan to leave some winter stuff in New Brunswick, but that's only because I know I will be coming back for sure for the hunting season. And that is leaving me with more space in my luggage to move some stuff over to Montreal.

Maximizing my TFSA Portfolio: How I Contribute In-Kind When I Just Don't Have Any Cash to Invest

I really like the change of springtime because even though I finish work at 6 p.m. New Brunswick time, I can still go out for a walk without it being too late. I usually walk for nearly an hour during my lunch hour, and now I will start going out for a walk after work too. If I can walk enough to reach 12,000 steps, it's a good day for me.

On the other hand, today wasn't a good day for the TSX as it closed the session with 19,588.90 points, falling behind the 20,000-point mark. My non-registered portfolio closed today's session at $143,958.26, my US portfolio at $5,151.27 US, my RRSP stocks-only portfolio at $64,310.49, and my TFSA portfolio at $124,572.51.

It's time to discuss today's topic: how to contribute to your TFSA portfolio, even if you don't have any money to invest. The solution is simple: make a contribution in kind from your non-registered portfolio to your TFSA portfolio. Personally, I consider myself to be an expert in contribution in-kind. I regularly use this method to contribute to my TFSA portfolio, which is why I have a much larger number of investments in my TFSA portfolio compared to my non-registered portfolio.

If you take a closer look at my investment portfolio, you will see that I have more holdings in my TFSA portfolio because of the contribution in-kind system. This allows me to maximize the growth potential of my investments without having to make additional cash contributions.

The concept of a contribution in-kind is quite simple. You choose an investment from your non-registered portfolio and transfer some or all of its shares to your TFSA portfolio. This method allows you to fully utilize your TFSA portfolio without having to use cash from your savings. When it comes to making contributions in-kind from my non-registered portfolio to my TFSA, I follow a few important rules.

First, the investment that I select from my non-registered portfolio needs to be a stock that I care about and that I am willing to keep as an investment for my TFSA portfolio. 

Secondly, the value of the investment that I will select from my non-registered portfolio needs to be down. While proceeding to a contribution in-kind using investments that are being held inside your non-registered portfolio, you will have to pay taxes on the transfer. If the investment selected is experiencing great growth inside your non-registered portfolio, if you transfer that successful investment to your TFSA portfolio, you'll have to pay capital gain taxes. Personally, it's something I am trying to avoid. In addition, selecting quality investments that have decreased in value in your non-registered portfolio can provide you with more contribution room in your TFSA.

Currently, my investment in BCE Inc. (BCE) within my non-registered portfolio has decreased by about $400, making it an ideal choice for a contribution in-kind to my TFSA. Additionally, I already have some BCE shares in my TFSA portfolio, so consolidating all of my BCE shares in my TFSA would help to maximize the dividend income and enable the DRIP to work effectively.

Contributing in-kind with dividend-paying stocks is an excellent strategy because, once the transfer is completed, the dividend income earned within the TFSA portfolio is essentially tax-free, which is fantastic. Last year, I earned over 80k, and while I probably may not earn as much in 2023, I'll do whatever I can to save money and keep it away from the tax man.

When transferring funds or making a contribution in-kind to grow your TFSA portfolio, it's crucial to ensure that you stay within your contribution limit. Overcontributing to your TFSA portfolio could result in significant costs. Personally, I have not yet maximized my TFSA contribution and have several thousand dollars of contribution room available for my use.

Recently, I invested a significant amount of money into my margin account to pay off some debt. The debt is linked to my non-registered portfolio. Whenever I make a contribution in-kind, I must ensure that I replace the loan value of the selected investment with cash. However, as I have been diligently working on paying down my margin account, I now have over $50,000 in cash available in my margin account. This means that my margin account is in a much more secure position. Nonetheless, when it comes to margin debt, there is always some level of risk involved, and you can never be entirely safe.

Make sure to understand the rules of the TFSA before contributing to it and ensure that you stay within your contribution limit. By doing so, you can enjoy tax-free dividend income.

Welcoming CSX Corporation (CSX) in my US portfolio!

With spring approaching, I am trying to spend more time walking outside and less time on my laptop, although there is still a lot of snow left to melt away. It has been a long and cold winter, but we are not completely done with it yet. However, one clear indication that spring is coming is the fact that there is less and less wood in the basement. One thing is certain: the worst of winter is now behind us, and I couldn't be happier. I may not post as frequently as I did during the month of February, as time passes quickly when you try to walk at least 90 minutes a day and work full-time. Work has always been busy, but now it's becoming a bit more intense.

I have a lot of decluttering to do in both my bedroom and the basement, where I have stored some of my belongings in boxes. In the basement, there are about six boxes and one suitcase, while my bedroom is filled with my own possessions and items that belong to my parents. Since I haven't lived with them full-time since my early twenties, my bedroom has become a storage space for my parents' belongings. I always kept some of my belongings in my room, and over time, as I moved out, some of the drawers were emptied, and my father started using them to store his things. I never had a problem with it, but I found it very amusing the first time I noticed my father's belongings invading my room. Soon after, my mother's clothes filled up the wardrobe, which was also okay with me.

The other half of my belongings are in my apartment in Montreal, where I will be reunited with them sometime in May. Time is flying by, and I really want to get my decluttering done before I leave for Montreal. I don't have too many clothes, but my thing is papers - A LOT OF PAPERS - and books. My old folks want eventually to sell the house if they can find an apartment and I really have to take my decluttering seriously and take some stuff with me when I will be leaving for Montreal. Papers and books are heavy, so I have a lot to do here. As always, I do things my own way, including decluttering. I write down everything that needs to be done on my cellphone, and I tackle the clutter in sections, doing one section at a time.

I started spending the months of October to May in New Brunswick last year while we were dealing with the pandemic. During those months, it's both my father's and mother's birthdays, so I thought, why not? It went well last year, so I decided to repeat the experience this year. Even though I still have to pay my monthly rent for my Montreal apartment, I save a lot of money while spending the winter in New Brunswick. I don't do a lot during the winter in Montreal anyway since I'm not a winter person. I am trying to make the most of my stay in New Brunswick by controlling my expenses.

This year, I did my 2022 taxes quite early, and I am already done with the process. I had estimated a tax return of around $1,000, but I will be receiving a return of close to $850. With that return, I will only be missing less than $700 before reaching out for the $20,000 in savings. In 2022, my income exceeds $80,000. I always thought that anything over $70,000 was an extra-large income, but even at $80,000, I find that it's - of course - a good salary, but it's not as much as I imagined.

Recently, I made a small investment in my US portfolio by investing in CSX Corporation (CSX). The overall chart of CSX is very strong. Take a look for yourself:

Unfortunately, the TSX closed well below the 20,000-point mark, at 19,774.92 points. My US portfolio closed this past Friday's session at $5,115.27, my RRSP portfolio at $64,400.42, my TFSA portfolio at $125,291.34, and my non-registered portfolio at $144,767.61. My margin account debt is now at $44,029.98, and my dividend income is at an annual $12,208.59. I currently have over $7,000 in my main chequing account, and I am looking forward to transferring some of that money to my margin account debt.

These days, you can follow me on Twitter at @SunnyJNB.

The ugly true about the hidden cost of my margin account debt

We had a strong start to the morning for the TSX. I thought we were going to exceed 20,300 points, but we closed the day at 20,260.13. It wasn't a bad day, and as long as we remain above 20,000 points, I will be happy. My non-registered portfolio closed the day at $145,789.22, my US portfolio at $5,206.19, my RRSP stocks-only portfolio at $65,387.33, and my TFSA portfolio at $127,540.48. The debt on my margin account still remains the same at $44,066.21. I have $61,290.24 available to invest on margin, but of course, I won't be investing that money anytime soon, especially at an interest rate of 8%.

In 2022, I was charged around $2,500 in interest for my margin account. It wasn't an excessive amount, but if I had kept my margin debt at $46,787.51 in 2023, the interest charged would have been $3,743. While I've never had an issue with managing a margin account, the current interest rate of 8% is becoming a concern for me.

I just filed my 2022 tax return and I'm expecting a $1,000 cash refund. This refund is due to my contributions to my RRSP, expenses for dental and eye care, and the interest earned on my margin account, which I declare as a financial fee every year. Despite my job and dividend income, and some capital gains, my income still exceeded $70,000. It's difficult to pay less tax without contributing more to my RRSP, but I'm not keen on doing that at the moment.

Since I'm expecting a tax return of $1,000, I can see that my margin cost me $1,500 directly out of my pockets for the year 2022. It's not an excessive amount for a bit of fun on margin. However, in 2023, with my margin debt at its current level of $44,000, it will cost me a whopping $3,520. If I expect to receive the same $1,000 tax refund as in 2022, my margin account will cost me $2,520, which is equivalent to $210 per month. It's beginning to add up. Additionally, there may be tax increases to consider, so I may not receive a $1,000 refund for my 2023 tax income.

At a certain point, it's not worth keeping my margin debt that high, which is why I began to pay it down. I am thinking of adding an extra $2,000 to it.

While the TSX had a decent day and all of my portfolios are performing well, I am becoming increasingly concerned about the high-interest rate on my margin account debt. I believe that my decision to pay down my margin debt is a wise one. The cost of maintaining such a debt could eventually outweigh the benefits of the investments held on margin. With the potential for tax increases in the future, I am considering all aspects to ensure long-term financial stability.

Paying Down Margin Debt: Why It's the Right Move Now

By now, you should know if you are subscribed to my Twitter account that I am pleased to announce that I have completed the task I dislike the most: sending all my papers for my 2022 tax income. This is worth announcing because I usually procrastinate on this task. Although it will take up to four weeks to complete during this busy tax season, at least I am in the process. I am glad that I sent my papers early because I received my T5, T3, and other documents, and I want to ensure that I file my tax income on time. Imagine working at an accounting firm and having hundreds of clients knocking at your door, mostly all at the same time, to get their tax income done before April 30... Crazy!

I sent all my papers online, but not without taking care of the actual papers first. All the papers that were required to complete my tax income for 2022 were in PDF format. I opened each one of them using Edge, and I covered up my social insurance number, account number, and the name of the institution. Of course, the accounting firm needs to have your social insurance number, but they don't need it to appear on every single paper. Additionally, when downloading documents onto a platform, you need to consider that these documents may be downloaded at some point and may end up on someone else's computer. Therefore, I covered up what I needed to while opening my PDF in Edge, and once I was done, I used the Snipping Tool on my computer to get what I needed from those PDFs. I then sent the documents, which were mostly all in JPG format. I couldn't send the PDFs in which I made the cover-up because I couldn't block the changes from being erased, and the sensitive information could be at risk of being viewed.

It's a boring little task, but if I can get $1,000 back from my hard-earned money, which is my goal, it would be nice. While waiting for it to be done, my non-registered portfolio closed this past Friday's session at $145,386.49, my US portfolio at $5,191.33, my TFSA portfolio at $127,803.85, and my RRSP stocks-only portfolio at $65,424.98. The TSX closed at 20,200 points. I hope it remains within 20,000 points. With this past Friday's paycheck, I had a bit over $17,000 in savings. I thought to myself that it was time to pay down my margin. So, I did and brought my margin debt down to $43,000. I was proud of myself, but then the interest charges came in shortly after. I pay over $300 in interest per month on that margin. My margin account debt is now at $44,066.21.

With National Bank Direct Brokerage, the interest rate on my margin account is currently 8%. Since no bank is offering an equivalent interest rate for an unsecured GIC, I have concluded that the best course of action in the current circumstances is to pay down my margin debt. This is particularly true as I do not feel like investing at this time. It is better to do something with my money, and for now, paying down my margin debt appears to be the right choice.