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 😀 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 🙂 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.
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
#11 United States:
Avg annual hours: 1,798
Avg annual wages: $54,450
Miners and loggers work the longest hours averaging 44 hrs/week
Avg annual hours: 1,710
Avg annual wages: $47,200
Yeah, I guess we’re pretty laid back people here 😎
- Part-Time Work = $1,100
- Dividends = $300
- Eating Out = $0
- Others = $200
*Net Worth: (MoM)
- Assets: = $572,000 total (+$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: = $384600 total (-3800)
- 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 (+$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! But it looks like I should be aiming for $200,000 now 🙂 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 😀 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 😉
Random Useless Fact:
Nice work Liquid!
Say, do you have any suggestions for books that you’ve read? Thanks.
Thanks JR. Yes, as I’m sure you’re well aware, knowledge is power, and I wouldn’t be where I am today without helpful literature. Here are several books I liked and how I put them into practice 🙂 Rich Dad, Poor Dad A fairly well known book. It talks about the importance of building assets and creating wealth. It’s nice that in Canada you can buy a house with just 5% downpayment 😀 So I just kept buying land, stocks, gold, silver, and other financial assets. This is how I have more than half a million dollars in assets today. It’s a good strategy because even assuming a modest 4% average annual increase to my assets means I’ll be more than $20,000 richer without having to do any work for it 😀 Stop Working, Here’s How You Can This is a national best seller in Canada. The author Derek Foster retired in his 30s by investing in dividend stocks. I buy a lot of the same stocks as him in the energy, utilities, and financial sectors. I make about $5,000 a year in dividends now by just following in the author’s foot steps and I should be able to make about… Read more »
14 consecutive months of up… Hum seems to me you might have a little bankers luck in ya! Have you ever considered buying a lotto ticket? Just kidding, Congratulations on once again proving that executing on good planning, and controlled spending, reaps endless financial rewards. – Cheers.
I hadn’t even realized that, haha. 14 months is quite a fortunate track record indeed 😆 Funny you mentioned bankers luck. I’ve been thinking about money more and more as a banker lately 🙂 I think the DNA of a bank is to make as much money for its shareholders as possible within the confines of the law and regulations. This allows them to take on more risk than if a bank CEO were managing his own money. I guess that could be good or bad depending on how we think about it 😕
It’s interesting that (on average based on your stats) the US is making $30.28/hr while Canadians make $27.60/hr; I can see why there is interest to head to the States to grow your net worth faster!
Not that you need help on that end with growing your net worth – that is one sexy graph!
And yes, I agree with the science behind beards and mustaches. 🙂
Have a good week!
I have to heartily disagree with you about being in the U.S. to get a higher NW faster.
The Americans might make more, but Canadians have universal healthcare, which the equivalent of which would be $1000 – $2000 NET a month in the U.S. if you were to obtain such healthcare as a freelancer. Otherwise, companies give you healthcare at perhaps $200 – $400 a month (OUCH), but the benefits are nowhere close to what Canadians receive.
I moved there as a freelancer (read: Not playing around any more), I should know having lived in Canada most of my life and spending a year in the U.S. in various cities for work.
It’s a bum deal. Plus their minimum wage is lower, so they work more to achieve some semblance of normal wages versus Canada. Most people just don’t have healthcare and don’t factor in how much it affects their actual wages.
They may get more money up front, but then they’re screwed on basics like health.
I think it may depend on what profession you persued; as an actuarial student back in the day, I knew that if I headed to the states to work in the insurance field, I would have made (easily) 50% more than what I made because I chose to stay in Canada; I had classmates who did just that. The actuarial societies also completed annual salary studies based on your experience and how close you were to being certified, and Canada’s numbers were always 10 – 20% lower than the 10% quartile when it was compared to the states.
As for healthcare, if you worked with an employer, this was definitely covered (at least for my company). And even with universal healthcare, we still have expenses to pay out of pocket, even if have health and dental coverage from your employer.
I had a cousin who was recently transferred down to the States, and rent for her (much nicer!) place is half the price I am paying for mine right now. Food, clothing, gas, phone plans etc. is cheaper down there as well.
@Vicky It’s especially true for medical professionals where surgeons in the US sometimes make twice as much as their Canadian counterparts.
1. “Hard work” does not equal the number of hours spent, so let’s not mix the two concepts. You can spend plenty of time at the office but if you do jack all, you’re not working harder than someone who spends less time but works harder. In Mexico, I am told the professional culture is to go in early, come out late, but to spend the day talking to your colleagues, greeting each other, and then spending time at dinner with each other rather than going home to your family. This is why one guy moved from Mexico to Canada because his wife was getting annoyed. 2. The Americans might make more, but Canadians have universal healthcare, which the equivalent of which would be $1000 – $2000 NET a month in the U.S. if you were to obtain such healthcare as a freelancer. Otherwise, companies give you healthcare at perhaps $200 – $400 a month (OUCH), but the benefits are nowhere close to what Canadians receive. I moved there as a freelancer (read: Not playing around any more), I should know having lived in Canada most of my life and spending a year in the U.S. in various cities for… Read more »
He had to move because his wife was annoyed haha 😀 Good point about the universal healthcare aspect. Some Canadians take it for granted but we have a pretty darn good system up here. 75% of the jobs created in the US recently was all part-time jobs because companies are trying to dodge the expensive costs of providing healthcare and insurance to their workers by not hiring them full time so they don’t get all the perks and benefits.
LOL, love that pic – so true, isn’t it? F35, your posts always boost our investing courage – thanks for that, and congrats on a great month!
HAHA! I love the photo. I definitely think the guy with the mustache is mega creepy.
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