Margin account debt: $45,686.92 @ 4%
Annual interest: $1,827.47
On the date May 20, 2022
**For a complete update regarding my debt, click on the label "Debt situation" located in the right column of this blog.
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About Me
- Sunny
- I am a French Canadian New Brunswicker. On August 5th, 2009, I achieved my goal of having $50,000 in investment assets. My ultimate goal is to achieve financial freedom, and at least live happily with my money and be able to achieve my objectives, even if I do not retire early. It all starts with that first $50,000. My email, if you'd like to say hello, is myfirst50000 (at) yahoo.ca.
The content of this blog reflects my very own personal experience with finance and it shouldn't be considered as a professional view on investment.
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Total in assets: $415,656.63/Net worth: $407,032.02: March 28, 2024
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Blog Archive
-
▼
2022
(161)
-
▼
May
(15)
- Meet my investment portfolio intruder: Wescan Ener...
- Bank of Nova Scotia (BNS) boost up its dividend di...
- My net worth is now at $340,156.47
- My investment portfolio on date of May 20, 2022
- My debt situation on date of May 20, 2022
- Adding a few shares of CM, NWC and T to my portfolios
- I do not qualified for National Bank Direct Broker...
- Historic day for investors: Canadian Imperial Bank...
- The real fun now begin for investors
- Welcoming some new BCE stocks inside my non-regist...
- Sharing some ideas while the TSX is "enjoying" a v...
- OH no, the TSX closed today session below the 20,0...
- Watch out for more dividend candy coming from Pemb...
- Another great stock of mine increase its dividend ...
- Yeah! Methanex Corporation (MX) announced a divide...
-
▼
May
(15)
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4 comments:
Just curious Sunny, but do you collect more in dividends then you pay in interest? Thank you.
I recently read David Foster's book where he suggests to take out a big loan (against your house), and then pay it off with the dividends from a safe dividend paying company, like BNS, ENB, or BCE. I'm just wondering if this is what you are trying to do, except you are using margin instead of a home equity loan?
Sorry I meant Derek Foster in my previous post.
Hi,
Thanks for reading.
Currently, my overall annual dividend income is at $11 198.84.
The interest on my margin is about $1,827.47. I declare that amount earn in interest as financial fees I think it's being name on my taxes.
You can declare interest own on a margin.
Hi Mary,
I haven't read Derek Foster's books in a really long time. I don't remember that. Unfortunately, my Derek Foster books are in my apartment in Montreal, so I cannot check this out as I am in New Brunswick right now. However, I don't think Derek Foster would be in favor of a margin, or taking money out of a loan to invest. He's quite friendly, you could ask him the question by email, he will probably answer you.
Personally, I took the decision to have a margin account a very long time ago. It always went well, however I am extra cautious and I check my portfolio and TSX on a daily basis, if not several time a day lol... I make sure that I have a good amount left available on the margin to protect myself. When I open my margin account, my goal was to have access to a bit more money than what I had available, so I went for it. I had used my margin to invest in new stocks, but I always been careful with those investment moves.
A margin account is a dangerous tool and I wouldn't sincerely won't recommend a margin to any of my readers. You need to be quite in control to have a margin account. Not that I am better than others, but I had that margin for a long time and I know how to handle it, if I may say.
I have to admit that I have a $5,000 credit line at a low-interest rate and I am really tempted to use it to invest... But I know I can afford to make the minimum payment on a $5,000 credit line.
While borrowing money to invest, you need to make sure that you don't push your limit too far. Borrow what you can afford, not more. A margin account is not a good idea, especially if you haven't hold your stocks for a long time in your portfolio. These days, the market is volatile and its rough to hold a margin.
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