May 072015

Unpaid Internship is in serious disrepute. Many economists and labour activists believe graduates shouldn’t be allowed to work for free. On the other hand influential people like Stephen Poloz, the Bank of Canada Governor, advocates that it’s not a bad idea for young people to do them. He says an unpaid internship is a valid way to avoid the “scarring” of long-term joblessness, especially among the Generation Y cohort.


In most cases, unpaid internships are in fact illegal in Canada.Β There are some exceptions however. Federal government departments and agencies have employed up to 1,000 unpaid interns since 2008, for example. In the United States the rules around intern compensation can be a bit more confusing. Nearly half the internships in America are completely unpaid. Currently Obama can employ hundreds of unpaid White House interns, even if he publicly advocates for higher minimum wage lol. Of course non-profit and charity organizations are allowed a free pass as can classify their unpaid interns as “volunteers.” πŸ™‚

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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