Over the last couple of months I went on a big shopping spree and splurged myself silly (~_~;)
$15,000 of unnecessary spending is not a very sustainable lifestyle, but at least I didn’t spend all my money in one place because that would be financially irresponsible (・_・;) When was your last shopping spree and how much did you spend? As you already know I like to be fully invested and usually don’t keep much in savings. But I did manage to save up $5000 earlier this year and then spent it all in one go. So where did I get the other $10,000 from to meet my shopping
needs wants? I borrowed it from the bank of course, at an interest rate of 4.25%. I know spending on credit can be a slippery slope, but I just can’t get enough of shopping centers, cell phones, and other nifty wireless gadgets ( ^^)
So let’s take a look at some of things I bought.
|Name||Symbol||Yield||$/share paid||# of shares||Total Book Value|
|Bank of Nova Scotia||BNS||4.1||53||40||$2120|
Vodafone is one of the largest and most diversified telecom operators in the world. They even own 45% of Verizon. Think about how many customers Verizon has. From April to June this year Verizon made over $1.5 Billion in profit. From now on, every time Verizon makes money, I will make money too! XBB is a straight forward bond index etf. Riocan was the first stock I ever bought. That was back in 2009 I think. The reason I’m buying more is because I want to have enough shares for a DRIP, which I finally do now. And finally Scotiabank is Canada’s most international bank with over 1000 branches in 48 different countries.
The $10,000 I borrowed from the bank was an RRSP loan. That’s why we saw a big boost to my retirement portfolio in the last Fiscal Update. So most of these companies I plan to hold until I’m 70 or older. The $10,000 I have to pay back the bank is nothing compared to the long term benefits these companies will bring me.
Those are just some of the companies I purchased but I’ve bought several others during this time too. I don’t want to make this post unnecessarily long so I will update my hedge fund some time next week so you can catch all the details there.