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Sunday, October 2, 2011

My debt situation on date of October 2, 2011

8 830.15$ at a low interest rate of 4.75% (RRSP credit line rates) = 419.43$ in annual interest

4 900$ at a low interest rate of 4% (credit line rates) = 196$ in annual interest

7 790$ on a TD Canada Trust credit card at a low interest rate of 4.9% (result of a credit card balance transfer) = 381.71$ in annual interest

7 238.77$ at low interest rate loan at 5.50% (student loan) = 398.13$ in annual interest

5 000$ at 8.75% (credit line) = 437.50$ in annual interest PAID OFF

10 000$ at 7.52% (credit line rates) = 752$ in annual interest

46 409.21$ at a low interest rates of 4.25% (margin money coming from TD Water house): =
1 972.39$ in annual interest

TOTAL: 85 168.13$

TOTAL in annual interest: 4 119.66$
[In date of October 2, 2011]


Anonymous said...

Your dividends are almost as much as your interest charges.

Anonymous said...

reduce your debt asap,persist to your dividend approach,god bless you!

Sunny said...

That debt thing of mine is now at it highest ever. I realized it after counting it in here. It's a bit too high and I will be working at decreasing my level of debt until the end of 2011. No new investment for me. I pretty got everything I wanted so far in my portfolio, if not Enbridge (ENB). But Enbridge can wait for next year.

Anonymous said...

with market volatility these days and all major indices are in bear market, i would be very concerned about your 46K margin account debt. as your portfolio holdings decrease in value, you will run into a situation where your stock value is worth less than the amount you have borrowed...that will possibly lead to a margin call

Sunny said...

I am aware of that. However so far, I had been able to face without problem. We may won't get a strong rebound like the after stock crash of 2008, this time is completely different but I mean, I am confident we'll face a little maybe tiny but a little rebound.

I don't feel like I am under the pressure of a soon margin call at all.

But I am aware I need to do something about that 46k margin. It's not anytime soon I will be selling my stock. I may attempt to increase my credit line in order to have cold cash available when the broker guys will call me.

It's something Susan Brunner suggested way back, but I never move, because I had been busy with my move and stuff.

But I think that now the time have come.


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