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Sunday, January 16, 2011

I am now at 139 860.70$

I am getting closer and closer to my first 150 000$ asset goal! Of course, this 139 860.70$ asset value is not my net worth. After debt deduction, my net worth is currently of somewhere of 81 482$! I hold 58 300.18$ in debt. Those debt of mine generate 2 965.36$ in annual interest.

My first divident distribution of 2011

So far for this weekend, I had received the following dividend payment:
Enbridge Income Fund Holdings Inc. (ENF): 30.62$
Pengrowth Energy Corporation (PGF): 14.91$
Premium Brands Holdings Corporation (PBH): 59.97$
Yellow Media Inc. (YLO): 31.30$

Projected dividend income for 2011

Non registered Investments:
Stocks and Units investment portfolio
Sprott Inc. (SII): 62.40$ + 312$ in special dividend = 374.40$
Bank of Nova Scotia (BNS): 601.72$
Methanex Corporation (MX): 63.86$
Fortis (FTS): 119.84$
Pembina Pipeline Corporation (PPL):
Just Energy Group Inc. (JE): 949.25$ + 153.60$ in special dividend (Just Energy Group Inc. (JE) didn't announce its special dividend yet, but it should come soon) = 1 102.85$
Yellow Media Inc. (YLO): 381.90$
Bell Aliant Inc. (BA): 383.80$
Pengrowth Energy Corporation (PGF): 178.92$
Enbridge Income Fund Holdings Inc. (ENF): 368.64$
Corby Distilleries Limited (CDL.A): 113.12$
Davis + Henderson Corporation (DH): 370.87$
Premium Brands Holdings Corporation (PBH):
EnCana Corporation (ECA): 160.80$
iShares S&P/TSX Capped REIT Index (XRE): 125.66$

TOTAL: 5 258.64$

Tax-free savings account (TFSA):
EnerCare Inc. (ECI): 277.34$

TOTAL: 277.34$

RSP investment portfolio (retirement):
EnCana Corporation (ECA): 80$
Emera Incorporated (EMA): 267.80$

TOTAL: 347.80$

OVERALL: 5 883.78$

Excluding the RSP dividend, I should be earning 5 535.98$ in 2011 dividend income. Not bad. This represent an income of 461.33$ per month. This dividend income help to cover for the 2 965.36$ in interest money. Eventually, I will be working at paying off those debt, but it won't be anytime soon. Will the first 150 000$ be in 2011?


Argonaut said...

Like I said before, becoming debt free is as easy as selling your mutual funds. Wouldn't it feel great to have no debt? And no interest payments either. You would be back to $100,000 in assets in no time. At least comment on why this is not a good strategy, thanks!

Sunny said...

Hi Argonaut, true I don't always reply to comments, sorry for that. I don't know if you had been reading for a long time, but I can, in a flashback, explain the overall. Back in 2010, I decided to reach the 100k in asset. 2010 was the year of the 30th birthday.. 2010, 30, 100 000$... Got the picture?

While working at low wage, the only to make this possible, was to get some debt. This was a decision I made. Having debt, especially for leverage, do not fit everyone. But having 58 000$ in debt is nothing for me. I am not afraid of those debt, as long as I can make the minimum payment required for each of the debt hold.

It was important for me to reach 100k in 2010 and I did. Actually, I even exceed the 100k. In January 1, 2011, I had 136 785.96$ in asset.

You think I should pay off some debt. Ok, that's your right to think so. But I am on my way to the 150 000$ in asset. It's not anytime soon that I am going to pay off some debt. After debt, my net worth is of 81 000$, but I don't want of a 81 000$. I want 150 000$.

And in my condition, the only way I can do what I want, is using debt money to invest. Maybe one day I will be paying off the debt, but it won't be anytime soon.


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