DIVI CENTS JOURNEY.
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Thread: DIVI CENTS JOURNEY.

  1. #1
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    DIVI CENTS JOURNEY.

    Basic Info

    Age: 37
    Net Income (after taxes): $118,000 (Single income family of 5)
    Status: Married

    Assets

    House $700,000.00
    TFSA $63,163.89
    RRSP $74,402.00
    Savings $26,950.89
    Pension $165,205.00
    Vehicles $30,000.00
    Silver and Cash $5,000.00
    Brokerage. $6,500.00




    Liabilities
    $0


    Net Worth
    $1,071,221.78

    History.
    I started investing in the stock market in 2006, probably at the worst possible time. I lost a small fortune in the next few years but learned some very valuable lessons.

    I have always been a hater of debt (fight club is my favorite movie) and have worked really hard to get rid of it. For my work, i'm a Steamfitter. I have been fortunate to be able to work lots of overtime and really focus on getting rid of all my debt.

    I traveled to the oil patch for 3 years and saved up nearly every dollar and paid off my house on my 35th birthday. It was bitter sweet, I missed many of my families birthdays to put them in a better spot today. I have never received any inheritance or hand outs but believe in hard work and frugal living.

    For the last 2 years I have started putting the money I had previously used to pay down my mortgage into my direct investing stock account. I don't like buying into an expensive market but i'm always seeking out value and growing dividends.

    Future

    I'm going to use this forum to track my stocks going forward and the income I receive from them. My goal is to make more money in the stock market then I would at work. Let's see how it goes

    If I make any stupid moves, feel free to call me out!

    Thanks for reading.

    Steve.

    Last edited by Steve Divi; 2016-08-14 at 03:29 PM.

  2. #2
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    Steve you are on your way,nice to see that you have well,enjoy and keep doing what you are doing

  3. #3
    Senior Member dubmac's Avatar
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    RESP's for the kiddies?
    consider putting $ away sooner than later. about as close to free $ as you'll get from the gov't

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  5. #4
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    Quote Originally Posted by 1980z28 View Post
    Steve you are on your way,nice to see that you have well,enjoy and keep doing what you are doing
    Thanks for the kind words, I'm going to update when my dividends are finished coming in next week.

    Cheers
    Steve

  6. #5
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    Quote Originally Posted by dubmac View Post
    RESP's for the kiddies?
    consider putting $ away sooner than later. about as close to free $ as you'll get from the gov't
    Thanks for the reply.
    I have started a RESP for my kids but it is not very large yet. I consider it their money so I keep it off my balance sheets. I have all my family and relatives give them money for their RESP's instead of birthday presents. I do like RESP's and the benefits of them but I hope to have my kids do what I did when I was going through college. Work part time and pay for at least 1/2. I believe this would help with the entitlement issues of the next generation. Maybe

    Cheers
    Steve

  7. #6
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    Quote Originally Posted by Steve Divi View Post

    Age: 37
    Net Income (after taxes): $118,000 (Single income family of 5)
    Status: Married
    ...
    For my work, i'm a Steamfitter. I have been fortunate to be able to work lots of overtime and really focus on getting rid of all my debt.

    I traveled to the oil patch for 3 years and saved up nearly every dollar and paid off my house on my 35th birthday.
    Wow! Impressive. You've certainly managed to buck the Alberta tradesman trend and kept your nose clean, saving all that you can for a great future for you and your family. For most 37 year steamfitters I know a family of 5 would mean him, his truck, and 3 ex-wives.

    Do you make that money working and living in BC, or still travel to Alberta for work?

    Now that you are investing with an unregistered account, and you are in a top tax bracket, I hope you have brushed up on the dividend and capital gains tax rules, and are properly allocating the correct holdings between your RRSP/TFSA/unreg to minimize your tax bill.

    http://www.moneysense.ca/invest/asse...-in-its-place/

    As a quick general rule of thumb, in order of preferred asset location:

    RRSP: Bonds, GICs, Foreign stocks, Canadian stocks
    TFSA: Foreign stocks with low yield, Canadian stocks
    Unregistered: Canadian stocks with low yield, Canadian stocks with high yield, foreign stocks with low yield

    Welcome to the forum.

  8. #7
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    Very impressive! I look forward to following your future posts

  9. #8
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    Quote Originally Posted by peterk View Post
    Wow! Impressive. You've certainly managed to buck the Alberta tradesman trend and kept your nose clean, saving all that you can for a great future for you and your family. For most 37 year steamfitters I know a family of 5 would mean him, his truck, and 3 ex-wives.

    Do you make that money working and living in BC, or still travel to Alberta for work?

    Now that you are investing with an unregistered account, and you are in a top tax bracket, I hope you have brushed up on the dividend and capital gains tax rules, and are properly allocating the correct holdings between your RRSP/TFSA/unreg to minimize your tax bill.

    http://www.moneysense.ca/invest/asse...-in-its-place/

    As a quick general rule of thumb, in order of preferred asset location:

    RRSP: Bonds, GICs, Foreign stocks, Canadian stocks
    TFSA: Foreign stocks with low yield, Canadian stocks
    Unregistered: Canadian stocks with low yield, Canadian stocks with high yield, foreign stocks with low yield

    Welcome to the forum.
    Thanks PeterK.

    I live in Coquitlam, BC and I make that money working in town. This year has been exceptionally good for work but there is many ups and downs in the construction trade. As a matter of fact, that's how I learned to save most of my earnings, the constant threat of being jobless!!

    I hope to be finished travelling for work as it is too much of a sacrifice and I've already missed out on more than I'd like to have. As for the big truck, well, i'm lucky that my wife is equally as thrifty as myself and would probably kill me if I ever came home with one!

    My accounts are set up just like you explained above. TFSA I have a lot of Canadian REIT's, RRSP is US stocks and Non Reg is Canadian bonds in the form of ETF's (XLB, CLF ect) When I get a chance, i'm going to throw up my portfolio on here just to keep track of it through time.

    Cheers
    Steve.

  10. #9
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    Steve, welcome to the forum. Your financial situation is incredible, not to mention for such a young age and with a family of 5! Clearly a lot of discipline has gone into getting you where you are today.

    What's your approach to DIY equities?

  11. #10
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    Quote Originally Posted by Holland View Post
    Very impressive! I look forward to following your future posts
    Thank you Holland.


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