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Tuesday, January 8, 2019

My New Year resolutions for 2019

The US shutdown continues and its really sad. Personally, and you know this, I live paycheck per paycheck. This shutdown is too long, but its a good thing for those who dislike Donald Trump, maybe all those people who had to live with no pay, they may not vote for the Republicans at the next election. Donald Trump is too strong in his believes. Everything had to work and be done his way. If not, beware the dog. It might be really stressful to be in his working circle at the White House, but I do admire him in a certain way, for his determination. The US is doing well, with many jobs that been created, its just wow. Is it a result of Donald Trump leadership?

I have money of my own, but its all invested in order to bring joy to the TSX. And the TSX is especially on a happy territory right now. I actually went for a visit to Maine, US during the shutdown while being in New Brunswick. I think it was the first time ever I was in the US while a government shutdown. See those beautiful pictures I took while being home. Far away, it's actually the Maine that you can see.

My non-registered portfolio closed today session at $118 970.33, my TFSA portfolio at $56 369.26 and my RRSP portfolio, stocks only, at $37 627.39. Today, the TSX closed at a good 14 605.15 points. Nice gains over the TSX mean nice gains for me. My non-registered portfolio closed today session at a good $120 494.73, my TFSA portfolio at $57 022.48, and my RRSP portfolio, stocks only, to $38 140.26. This brings my net worth closer to the 200k.

I didn't have the chance to comment yet my updated Budget page for 2019. It's a realistic, but quite restricted budget. However, I may be able to add up between $1 000 to $2 000 to that projected $20 463 in savings, but that's about the max I can save. We can go with a projected $22 500 in money save for 2019. My margin debt is currently at $47 645.69, I may be able to reduce that debt to $25 145.69 in 2019. I had planned before to sell my PPL stocks, but I am just please with my current dividend income, I wouldn't like it to go lower. But I may change my mind.

I switched form essentially credit card payment to cash and that way, I am less tempted to spend on stuff that I don't really need. It's actually a New Year resolution. In order to track down my expenses, I write it down in a little notebook. So far so good, despite the fact that I bought a new suitcase, my expenses since January 1th reached $162. While BNN reporter Amber Kanwar New Year resolution is not to drink alcohol for the next 3 months, mine is to switch from regular coffee to decaf coffee. I drink a lot of coffee and while it doesn't disturb my sleep or anything, I guess that at my age, while getting closer to 40, I should stop drinking coffee the way I used to. While working from home, I listen to BNN, which I really enjoy. Amber Kanwar and all the others are quite good. And it's nice to see a woman talking about not personal finance, but the real dirty stock shit. Have a look a how young she looks with her adorable baby girl in her arms. I am a fan! I learned a bunch of stuff by watching her show and I plan to post a little something on what I had learned by listening to BNN.

Another New Year resolution of mine is to drink more water and cook more. I don't drink water naturally, maybe because I drink too much coffee. I have a Brita Pitcher at home and I try to drink at least once a day, one and a half. So far so good, and it helps to lose a few pounds before hitting on Cuba hot beaches.


Nathan said...

Water is a good one for resolution. You should keep a check list on your fridge to help remind you to drink more water. One I am trying this year is try to eat more potassium.

Anonymous said...

I am wondering why you don't max your rrsp account before adding more to your non registered account or is your rrsp already maxed? I enjoy your blog!

sabrina said...

What do you think of Derek fosters newsletter?

Sunny said...

Good idea to drink more water!
I think I will do that. I am currently doing great right now, but its only because I am still in the New Year Resolution spirit. But naturally, I don't drink enough water, like if I would be a snake or something.

I am not an RRSP fan. Once money is there, you can't do nothing with it. Currently, I made good money coming from the dividend distribution of my RRSP, but its so annoying: I cannot touch that money! However, I have increased my RRSP contribution at work. I prefer TFSA rather than RRSP. But that being said, I may invest in my RRSP in the next couple weeks depending on how much taxes I will have to pay for 2018 because I sold my PBH shares in 2018 and in result in big capital gains.

I like Derek Foster books and I find it nice that he keeps us updated with his newsletters. They are great. If Derek chooses to invest in one specific stock, it worth it to have a look a what he does, free investment tips are always welcome, especially coming from him.

David said...

RRSP as well as RRIF are called an unrestricted account; meaning that any country that has a tax treaty with Canada will be treated as tax exempt. Meaning that, companies that pay in US dollars will be exempt from the steep US Withholding tax. This is the advantage of RRSP. It got better during the strong Canadian dollar era of when the Loonie was getting $1.2 US dollar; you can stuff all those nice dividend paying stock like Realty income corp and is now paying handsomely thanks to the strong US dollar.

I use an example of Brookfield Infrastructure (BIP.UN) which pays out in US dollars and I see you own this stock in your TFSA account. If held in an RRSP and RRIF account, your BIP dividend will be tax exempt, which means you get to receive all the dividend tax free. Even if you convert your RRSP to RRIF, you will still enjoy the tax free exemption. While dividend from your RRSP when converted into an income is taxed at your full marginal tax rate; as long as you keep your income below $40,000 from your investment, then you will enjoy the low tax bracket, keep your OAS and CPP from being clawed back. The excess can then be diverted into your TFSA assuming you have room. If you have any Canadian or US company that pays in US dollars, then it is wise to keep them in RRSP.


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