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Tuesday, April 3, 2012

What all dividend investors need to know about unemployment benefit

Time is passing by so terribly quickly! As you may know, I had been laid off beginning of March. The excuse that had been giving to me was a lack of financial resources. And that reason is true. However, I was promised a full-time, permanent position. I had moved from Montreal to my hometown for that. Things didn’t turn the way I expected them. Who’s that evil in New Brunswick to make move someone from Montreal for not even 6 months of employment? Well, such people exist and they are from my hometown, right next door... almost... At the time of my laid off, I was giving a nice reference letter, but sh*t. I asked why was I hired on the first place? If you have financial problems now, you might has the same problems back in September right? The answer I was giving is that it was my decision to move and accept the job. OH MY GOD! I am not going to give up on this. THEY ARE GOING TO SEE WHAT HELL REALLY LOOKS LIKE. OH YEAHHHHHHHHHH.

I am not going to do anything illegal because you know, your Dividend Girl is not really evil herself ok. Of course not. But I have rights. I have right to complaint at the Work Department or whatever else it is name. I have the right to fill out a small claim. Luckily, in New Brunswick, the max aloud is 30k. I am going to go straight to the point with those little F and I will get the last pennies of their pocket. Its going to be SEXY UGLY.

Ok, you may told yourself, yeah yeah, but you had said BEFORE that YOU WERE going to fill a small claim. I know. But I didn’t take care of it. I had been lost on the everything else I have to do. And I got lost very easily.

But hey, I am not weak. I had spent some time working at a contract I had found online. It went well. So far, I may have made more than $500. I had been lucky in my search, but it’s hard worked, but enjoyable and it kept me busy in my field of interest. And no, I am not going to tell you what it is. NEVER. Lala

Remember, I also started a business of my own with my business name, my business number AND my business bank account. I had filled today a form to get my tax number today. It was about the only thing missing.

I need to come with a Web site and I need to have an email address with my business domain address. I haven’t worked on that at all. 

I tried to search for other contracts, but I haven’t found anything yet.

HOWEVER. I didn’t try very hard.

Even let say, I only earned $500 a month from my business, I will have enough to live on. And that because of my dividend income. With 1k a month, I live the godness lifestyle. I don’t really have any stress at all. My dividend income is about $600 a month in average. Add to this my online income (about $100 per month in average. Basically, with that $700, I cover my basic expenses. That my business work or not, it’s not really a problem. But of course, living on a $700 monthly is not what I want. I need a bit more than that for gas, car related expenses, clothes, makeup and many other. So adding an extra $500 in could make things work out very well.

One of the job I had before in Montreal are seeking for online agents. I need to apply. It’s the minimum salary for 20 hours. However, that add to my “business” and my dividend income and the little online income, it began to make it substantial. It could worth the try.

I had look around here for work, I had reply to some adds, gave away my resume to a couple of places. But I haven’t found anything yet.

And here I am coming to something I learn: while being on the unemployment insurance, dividend investor can touch their dividend distribution without having to declare it. Luckily, dividend distributions are not being recognized as an income that you need to declare every two weeks on the unemployment benefit declaration. I WAS SO RELEASED AND HAPPY when I learned this. However, don’t take this information as being a good one, you may want to double check just to make sure.

It’s difficult to be self-employed while being on the unemployment because it extends the waiting delay before you can touch any insurance benefit. It’s because of a special form that needs to be fill. And so far, every two weeks, I need to call to report my situation. Be careful regarding the self-work question. If you have a business of your own or are self-employed, you need to answer by YES even if you are not making any money from the business activities. Example, let say that for the last declaration of the past 2 weeks, I have a business, but I haven’t made money yet, I need to answer yes anyway regarding the question if I am self-employed. 

On top of that, you request to receive unemployment insurance could be accept OR refuse. But it is most likely it will be accept if you have work as an employer for a straight 14 weeks.

 Complicated? A bit, but manageable.

 It makes a lot of things to check into. I don’t even know if I had been accepted to receive unemployment benefit yet. It been close to a month now, but the normal delay is 28 days. I don’t have a patience nature. The unemployment money will be money that I will cherish and use to pay off my credit line at 7.52%. 

Other than that, I plan to do a very HUGE garden this spring. I already bought some seeds of all kind of flowers and vegetables. I don’t know how to do a garden, but I am going to do one anyway. It’s going to be on my grandmother land. I have the whole background to play with. Of course, it’s all about money. For a couple of months, I am going to be a farmer. I hope to make some cash on my garden.

I didn’t tell you so yet, but I decided to stay here for the summer :) SEXY BIKINI, I AM COMING! xoxoxoxo

I have too many projects to leave now. And anyway, the workplace isn’t the greatest right now. I prefer to explore my business activities deeper and.... I also have an ebook project among the way. Ok, imagine 50 pages of fresh RAW English for yourself. It’s going to be awesome.

One other problem is having too much to think of, but I get things done anyway. Its all different now. I am not use to what I am living in. All that S*HIT.



Good Ol'Frank said...

Wow, this was your dumbest post ever. You have reached a new low.

Anonymous said...

Why don't you spend a bit more time proof-reading your posts? I enjoy reading the blog but most of the mistakes are very basic and should be corrected; at least for your readers.

Sunny said...

I don't feel that way about myself of course, but you can think whatever you want.

Proofreading? What that word mean?


That would be a good idea actually of course. But I have to much to say, to do and to write about to begin spending time at creating something very artificial from my raw English.

The Dividend Girl blog is really perfect the way it is.

Anonymous said...

Don't they teach english writing to francaphones? Or were you too busy stripping at night lol

Liquid Independence said...

That's great you're trying to learn a new skill, farming. You can save money by growing your own food (^v^) Good luck with your business D-girl, and hope you find more clients and contracts.

Sunny said...

ahah stripping ahahaha


Thanks Liquid! You are always so nice to me.

Ruth said...

HOw can dividends not be earnings? one pays tax on dividends so wouldn't that mean it is an income ? i would think that would have to be entered into the unemployment record. interesting...

Sunny said...

Hi Ruth,

Its not being considered as a work income.

Fact is, dividend income, its a luxury. Dividend distribution can be cut at anytime without any warnings. But chances are that this happen are low. We saw that before for some of my investments, something, dividend distribution are being reduced...

Myself, I am earning an average of $600 per month from my dividend. Its cool its not bothering my future unemployment benefits.

Ruth said...

find that most interesting..does that mean an income from GIC would be exempt also. so any interest is okay to get the full Unemployment cheque...learn something everyday.

Ruth said...

went to look at my income tax and the dividends are taxed as income. that would mean if someone has a huge dividend intake could collect pogi. did you ask them about the income from the dividends...i cannot believe that they would be discounted. not often dividends change without lots of time ahead.

Sunny said...

Hi Ruth,

Dividend are an income yes, but remember you are getting a tax credit for dividend income. So income yes, but not exactly.

Interest income like GIC are also excluded - they do not affect the unemployment the gov is giving away.

However, don't take me for cash, those info need to get a double confirmation.

Ruth said...

Sunny, yu are so right, i am wrong wrong ,,,beat me a hundred times with a wet noodle , i must admit to being surprised,,,i looked it up and your right on the nose kiddo. my apology to you. should do okay and proves that having those dividends paid off greatly .

Anonymous said...

Sunny, surely dividend income is factored into EI calculations. A millionaire who makes $10,000 a month in dividend income wouldn't get paid any unemployment benefits, right?

Anonymous said...

either you are off your meds or seriously need some

week after week, you sound more and more like a raving lunatic

OMG you remind me of my co-workers
these fockers need some old school
smackdown upside the head

pattirose said...

Sunny is right, investment income doesn't count for EI

Anonymous said...

If you make 10,000 a month in dividend or interest, although you are eligible to receive EI, you would have to reimburse it. After you make over 55k a year, you have to start reimbursing the EI you received. As in Sunny's case, there's no problem collecting EI while earning dividends.

The accountant

Sunny said...

It confirm I was right....

Like always



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