Sep 032013

I didn’t buy any new stocks in August because I think the market is due for a small correction. Good thing I’m heavily invested in dividend growth stocks which tend to increase their distributions to shareholders over time despite short term fluctuations in their stock price πŸ˜€ I currently own many of this year’s Canadian Dividend Aristocrats including Tim Hortons, Keyera Corp, Enbridge, Suncor, Bank of Nova Scotia, TD Bank, and my favorite stock for 2013 so far – Cineplex! With a long term buy and hold strategy I’m sure my dividend income will reach $10,000 per year by 2016 if I continue to DRIP and invest 50% of my income (^_^) Right now I’m very tempted to buy some Take-Two shares (TTWO) They’re an interactive entertainment company with some popular intellectual properties like Max Payne and Grand Theft Auto πŸ™‚ It’s not a dividend stock, but I think growth stocks have a place in a portfolio too. But like I mentioned it’s hard for me to pull the trigger on any buys right now because I believe the market is fully valued. On another topic here’s a look at how hard people work in different countries.
#1Β Mexico:
Avg annual hours: 2,317
Avg annual wages: $9,885
At 45 hour of work per week Mexico has the hardest workers of any industrialized nation
#11Β United States:
Avg annual hours: 1,798
Avg annual wages: $54,450
Miners and loggers work the longest hours averaging 44 hrs/week
#18 Canada:
Avg annual hours: 1,710
Avg annual wages: $47,200
Yeah, I guess we’re pretty laid back people here 😎

*Side Income:

  • Part-Time Work =Β $1,100chart_aug13
  • Dividends =Β $300
*Discretionary Spending:
  • Eating Out =Β $0
  • Others =Β $200
*Net Worth: (MoM)

  • Assets:Β = $572,000 totalΒ (+$500)
  • Cash = $6600 (+$1200)
  • Stocks CDN =$74,200 (+$600)
  • Stocks US = $39,600 ($700)
  • RRSP = $29,800 ($600)
  • Home = $252,000 (same)
  • Farm 1 = $152,500 (same)
  • Farm 2 deposit = $17,300 (same)
  • Debts: =Β $384600 totalΒ (-3800)Β 
  • Mortgage = $201,700 (-$400)
  • Farm 1 Loan = $110,000 (-$200)
  • Margin Loan CDN = $26,100 (Same)
  • Margin Loan US = $22,300 (+200)
  • TD Line of Credit = $19,700 Β (+$9700)
  • CIBC Line of Credit = $0 (-$13,000)
  • Credit Card = $4800 (-$100)

*Total Net Worth = $187,400 (+2.35%) All numbers above are in CAD. Conversion rate used: 1.00 USD = 1.05 CAD

$4,300 is above average for me. I paid off some debt on my CIBC LOC and transferred the remaining balance to my TD LOC because of a lower interest rate. My original goal at the beginning of this year was to hit $190,000 in net worth by December 31st, which would represent a $50,000 increase year over year!Β But it looks like I should be aiming for $200,000 now πŸ™‚ Gee willikers, the momentum is really building up now. All I did for the past 5 years was simply invest in high quality companies and real estate with calculated leverage. The positive results from those investments just happened naturally πŸ˜€ I think most people can do the same if they have patience. We all want to be rich, and we know that can be achieved by investing in a diversified portfolio, but only those of us who are willing to wait the 5, 10, or even 20 years to get there will ultimately reach our goals πŸ˜‰

Random Useless Fact:Β beard-moustache-hotter-science-compare