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Monday, December 16, 2013

Derek Foster is selling an impossible dream over and over again

Derek Foster sent his readers a newsletter today. The subject being that we shouldn't rely on government CPP to backup our ass at the time of our retirement. I think the federal governments had shown multiple times that Canadian citizen cannot in any ways rely on the help of government when it comes to our well-being. Being Canada mean that we are alone in a country that is not a united country as long as Quebeckers will be in the portrait.

After selling the impossible dream of Money for Nothing and Stop Working, early retirement and other shit like that we all love, now, Derek Foster open the door to a new hot and sexy money phenomena: how to get rich on TFSA. What Derek Foster says is that if one individual contribute the maximum to a TFSA and invest in quality blue chips, well, at the time the do individual will be a senior, the do will be a millionaire.

Seem to good to be true.

Well, Pappy Gordon Pape has about the same on going say-say in his book about TFSA. Invest in a TFSA and you'll get rich.

Well you know what, I have enough.

At this point, both Derek Foster AND as always Gordon Pape are seriously pissing me off.

What is the madness all about?

I had been on the workforce for what... for 8 years now and I already have enough. I am not happy to have to live in Quebec just to be able to work. I am tired of being dominated. I am tired of Quebeckers. I have enough of my workplace and Montreal.

A lottttt of things are pissing me off right now and I am very extra close to just get the hell out and just leave everything behind. I have more than enough.

So do you seriously think that I will be able to work until I am 65 years old?

Oh F NO!

This is why I am just extremely tired of all this money dividend shit even if I am the one and only Dividend Girl on Earth ok. ENOUGH.

I have enough of the millionaire talk.

Do you seriously think that an individual in the middle class will be able to save 5k+ each and single years of working life? COME ON.

Just wait until I get pregnant by a F Quebecker and we'll see if I still have money to invest!!!

No question to be ask. Once children get in the house, when a family is involve,  there's no way I will be able to find much money to be save. Kids, life, family is all about expense, expense, expense.

It is not realistic to come over, and say ok, do this, and you'll get your millions. How can you, Derek Foster? How can you possible be selling the dream when you agree yourself to say so, that you had been lucky and you are an exception among the exception.

I would like you to be in my pants, be in the most foolish province, working with hypocrites, having to deal with  the same shit day after day after day. Where do you think I am going? I am on the million dollar road here? Nooo. Its the road of poverty, of extreme misery. Its a life with no meaning.

And the dream your selling, you haven't the right to expose it the way you do and this is why that if I see you face-to-face one day, I will be very tempt to beat you up.


Anonymous said...

Derek Foster asks you to stay at work until 65 and sells his books to collect more and more your money.

Anonymous said...

Wow! Shessh, Dividend Girl -- sounds like you're having a rough time. Don't let the bastards get you down! :-)


Anonymous said...

The Wealthy Barber. Read it. And unsubscribe from that idiot Derek Foster's newsletter

Christine said...

Wow! Wasn't expecting you to get so upset by that since you are doing so well with your savings yourself (like way better than me). Yes it can be difficult to always save every single year 5K.. I have to agree. You need to set yourself up well: live frugally, get paid well (even more important when you have a family) and not get into any trouble (unemployment, sickness, etc).

Maybe you could figure out how to create your own business if you don't like it there? If it's online you may be able to live where you want!

Anonymous said...

Life is all about choices. If you aren't happy with your job, you should get an education and work in a field that you would enjoy working in. They you won't be in such a hurry to stop working. Lots of millionaire choose to keep on working as work gives you a sense of accomplishment and his a big part of your social life also. Look at all the actors, singers, athletes, etc; lots don't have to work but they choose to work.

Also, Derek said that his TFSA along with his wife's were worth over 100k; that means he has been investing in the right places as he has doubled the money in the last 5 years.

You lost a good opportunity in the last 5 years to double your money because of you're lack of diversification and your gambling on gold, silver and small companies. And when I say lack of diversification, I mean only being invested in Canada. As you rate of return in the last 5 years shows, buying shares in lots of companies isn't diversification.
Every year, it's the same thing, you didn't make any money and I tell you that by investing in the Mawer Balanced Fund, you would have earned 17.5% with no stress of stock picking, worrying about dividend cuts, etc.
You need an investment plan. Right now, you're only plan is to save and borrow as much money as you can and put it in the stock market. You have no strategy of when to take profit, how to properly diversify and when to cut back on margins. If you haven't made any money using margin in the last 5 years when most markets has doubled, what's the chance you will make some in the next 5 years. You are taking unnecessary risk and the only ones making money are the banks.

Derek has made mistakes and will keep on making some in the futures; but he has also learned from mistakes and adjusted his investing accordingly. You need to take a serious look at your portfolio and decide; do you really want to go through monitoring all these companies and will you keep on losing opportunities to make money.

Anonymous said...

You definitely have issues. Seek some psychological help.

Derek said...

LOL! OMFG! You are so brutal. Tell us more.

Do not hold back DG, tell us how you really feel!

Leading a life of quiet desperation. Lose the 80 pounds fatty, and maybe you will find that homme qui s'apelle "Ton garcon Quebecois". Oui, oui, Fifi!

Bon chance,

pattirose said...

oh no, the gadget for comments is gone again

Sunny said...

Too bad, the gadget is on and off sometimes. I have remove it for now. Sorry Pattirose, you'll have to go through all the post to read on.

It was a post about the frustration of the moment and I am just surprise over the reactions because you all know my frustration of having to live in Quebec just to be able to work - nothing new here.

In case you haven't notice yet, I always write about the same things over and over again.

And I am getting tired of reading some hopeless newsletter or whatever else. I am real tired.

And if no one can understand that, well toooo bad.

Anonymous said...

Hey I totally understand you. Working for others is selling your time for peanuts.

Your time is irreplaceable to you but you are very replaceable too them.

They will work you to the bone and then throw you out and bring in someone new when you're too tired to make them money. Or just steal your work and give it to their friends then throw you out when you complain.

This is the cycle of all businesses. It doesn't matter if you're a CEO or a waitress.

Once you recognize that, you'll know how to prioritize your energies in function of what is important to you.

You're smart, ballsy and have good insights. You'll figure it out.

Anonymous said...

Derek, you're an idiot.

Ruth said...

i read the wealthy barber....a great book for an investor to read. good advice.

Anonymous said...

If your life has no meaning it's because all you do is concentrate on money. Even though you would have 1 million dollars and could retire, that wouldn't give your life any more meaning. If ever you do find someone and get married and have kids, don't forget that you will probably have 2 incomes so you wouldn't have to cover all those extra expenses with your salary alone.

Christopher said...

Move to Alberta. Go to NAIT or SAIT for a year or two in an employable program, and you will be more than able to save over $5,000 a year.


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