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Thursday, January 2, 2014

Ok so this is my plan to get the sexy me on my first $150 000 net worth. Daddy, show me the money

I was off yesterday for the New Year so I updated my portfolio value and debt situation. Before that, my latest update was way back in October. I was quite surprise with the data. First of all, my portfolio hit on the $183 000. With a $77 000 in debt, I had closed the year 2013 with a net worth exceeding the $106 000.


It was my secret wish to finish the year with a 100k net worth, but I never taught it would had been possible for 2013. I taught I was going to make it close, but certainly not exceeding it by $6 000. Why? Well, because of the market volatility. too many ups and downs in 2013. It make me wanna throw up just by thinking about it. However, I am now at my second $50 000. No more first, but second ONLY. And on the road for a third.

There's a lot to celebrate! Also in December 2013, we hit on the 700 000 page views on my Dividend Girl Blog. We are actually now exceeding the 710 000 page views. You kind of like it over here, don't you? 

I am currently putting a sell order on my Heroux-Devtek Inc. (HRX) shares. Why? Well I had been holding HRX in my portfolio since the time they had paid that big special dividend. And now that HRX no longer pay dividend, it could be a good time for me to say good-bye to my shares. I am looking forward to sell at $11.41.

I am also looking forward to partly sell my investment in New Flyer Industries Inc. (NFI). I had put an order to sell some NFI shares at $11.75.

Another stock that I begin to have enough in my portfolio is Veresen Inc. (VSN) - I would like to completely sell off my shares, but for that, I will need to be patient.

And I am also very tempt to sell of some of my Exchange Income Fund (EIF) shares.

Those are the changes I am looking forward to make.

A 100k net worth is not that much money but its more I could imagine to have at 33. I had fix a 50k goal, that was pretty much all I wanted, but hey, after a $50 000, why not hitting on the rock to get a $100 000. Why not. Now that the impossible had happen, I am just looking forward to make things for the best.

Next big thing would be for me to pay off some debt and that part is really not easy. Its not easy because I have all of those investment projects. It happen sometime that I run around like a dog running at its tail - no investment idea seem to come, nothing catch my attention. What do catch my attention is special dividend. I am currently stuck with a stock name CBY because its promise to deliver a $8 per dividend to mommy was JUST extraordinary TOO tempting!!!! But now, CBY trade lower than the $77 I pay per share so I am stuck. The same thing happen to me with HRX. I don't mind holding CBY in my portfolio. I think its a blue chips, I didn't know that stock before so yeah, why not?

I am at a point where I have everything I want and ever much more so this is the perfect time to take care of a problem I had been carrying on for a little while; my debt. I hold a $2 355.19 at American Express that 0.99% that is going to expire in a couple months. And just recently, I got enroll in a $2 539.75 at CIBC Visa at 0% for 6 months. Great, but those are promotional offers and sooner or later, they will expire. Knowing myself, I prefer to set up a plan now on how I am going to pay off $4 894.94 by May and April 2014. If I want to clear it off by the end of May, I will need $978.99 per month for the upcoming 5 months. That make quite a bit of money! So I really need to plan what EXACTLY what I am going to do with my money for the next 5 months. 

For the first time in several years, I am going to save some bucks in my banking account! I hold two banking account that cost me $2.95 each month. Why 2? Well, because its the way it is! I am a girl, and I want 2 bank accounts. I have automatic transfer set up in each of the account and I prefer to leave things the way they are. I only need to save $2 000, $1 000 per bank account in other to pay no fee, so at least for next one and half month, the money will stay in my bank account and no more banking fees!

Another things I want to pay off until May is my $4 900 line of credit. By May, I should have a bit of cash floating and I will be able to make some transfers and pay off my 2 credit cards.

Basically, that's the plan. I already have a $511 save that is for now in my bank account and I should get another 1k available by the time of my next paycheck... See, do you understand now why I need to get a second job? 

After getting ahead on my 100k net worth, I would like to pay off some debt so I can minimize my monthly budget to a tiny 1k or even less. If could do so, it wouldn't be that much of a ride to hit on a 12k annual dividend income. See what I am running for?

Tomorrow is Friday and I cannot wait. its terribly cold here in Montreal. I need another bottle of Kim Crawford wine I drink at the New Year Eve.


Anonymous said...

It's suppose to be "thought", not taught. Congrats hitting over six figures in net worth. Just keep on accumulating!

Anonymous said...

I use RBC and they charge me no banking fees because I have their credit card and TFSA with $10 in it. To put $1000 in an account doing nothing to save $36/year banking fees? 3.6% return on your investment?


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