Oct 132014
 

turkeyAs most of us in Canada are sitting down to eat a giant feast with family and friends, I think it’s important to reflect on the thankful part of Thanksgiving that often gets over looked. We get too caught up in the rat-race as we hoard our pieces of cheese when really we need to stand back for a minute and really appreciate what we have. Turning on the faucet and having access to fresh water is something we don’t think twice about yet every day, 1.1 billion people in this world do not have access to clean drinking water. In case you can’t even begin to fathom that amount, that is A LOT of people that go thirsty every day.

The Lottery of Life

We all wish we could win the lottery and not have to work ever again. I know whenever I buy a ticket there is a moment of excitement while I think about paying off debt, buying a nice place and paying off my family’s mortgages. We often forget that if we have clothes on our back, food in our bellies and a roof over our heads that we are among the top 10% of the richest people in the world. That means 6.48 billion people were given the proverbial shaft simply by Continue reading »

Oct 092014
 

Dividend growthEvery year or so my brain tells me that I have a hankering for some deep fried chicken from the Colonel. So I indulged my craving and I went there for supper this week. It only takes one meal to remember why I never eat there but this trip was a little unnerving. Six years ago I could get a ten piece meal for $23. Now they sell the same meal, with only 8 pieces of chicken for $30. That’s a huge price jump let alone you get even less chicken. It’s like a double inflation squeeze by increasing the price and decreasing the amount of product. I’m no math scientist, but that’s a hell of a lot more than the 2% inflation rate my government keeps reporting to me each year.

I left actually feeling slightly panicked thinking about my future; taking my possible future grand kids to “Soylent Fried Chicken” and paying 800 credits for a meal. I’m sure it would end in a stern lecture to the kid working the counter about how in my day, it would only cost $23 and that I remember when Continue reading »

Oct 062014
 

2014update  Well 2014 has definitely been an interesting year for my financial goals. There wasn’t a whole heck of a lot of them and when it was all said and done I ended up getting rid of one completely!

The only consistency in life is that there is no consistency.

No matter how much planning or preparing you do, life always has a way of putting you in your place by changing things up on you. That’s why it’s important to avoid being rigid and instead, be more flexible to deal with whatever life throws your way. Surviving life means being able to adapt whenever possible. When you want to turn left and you’re forced to go right, you learn to deal with it or else you might as well just lay down and die.

Onion in the Ointment: Land Prices

Land prices in Alberta have skyrocketed thanks to the surge in personal wealth from oil and farming. Some idiot pays $400,000 for a quarter section of land for sentimental reasons then every Tom, Dick and Harry realtor sets that price for every other Quarter section. Why, where I live someone is trying to sell 16 acres of raw, un-serviced land that is entirely made up of sand for $216,000.  As a man who lost half of his net worth it almost feels impossible to reach my goal of starting an organic farm. Instead of laying down in defeat, I just have to adapt my strategy and face facts with what is possible and go in that direction.

I could always buy cheap land in Manitoba but my family is here in Alberta and family is very important to me. So sticking around here is a high priority. And besides, then I would have to live in Manitoba! *rimshot*

Instead of paying $200,000+ for just the land, I might as well spend $200,000 on a house on a serviced lot in town.  I can always grow my vegetables in a communal garden and perhaps one day find a small acreage to move out to.

Contribute $5500 to TFSA- Complete

Since TFSAs are amazing, this goal has become my top priority. I’m very grateful to have been able to save the maximum amount in my TFSA each and every year. By investing the maximum allowable amount of $31,000, my TFSA account is now worth just over $50,000. Nothing to write Money Sense Magazine about, but I stand to make over $1500 in dividends this year. That’s $1500 I can take out at any time without paying a lick of tax on it. I’m going to re-invest that money and buy more dividend paying stock so I’ll make even more money next year. My fingers are crossed that I’ll be making $2000 in dividends just in my TFSA alone next year thanks to dividend increases, re-invested dividends and my yearly contribution. Stay tuned to find out.

South America Save $20,000 for a house: 80% Complete

Well since life likes to throw curveballs, I’ve decided to widen my stance and hit them right back. So in order to do that, I’ve decided to postpone my trip to South America and merge that money I’ve saved towards my newly formed goal of a down payment for a house. Since splitting the sheets in May, I’ve been able to save $16,000 towards a new house. It’s funny now that I think about it. Both times in my life that I set my financial goals to save for a down payment, I manage to save absurd amounts of money while being single. I wonder why that is?! I’ll just keep on trucking and hopefully I’ll be able to make my goal of $20,000 by the end of the year.

I apologize for the inconsistency with my yearly financial goals but I have to roll with the punches. If I told your everything was just peachy and didn’t change anything, then I would be a total fraud and that’s not my style. I’m hoping that next year will be full of less life changing events and I’ll be able to totally move on with my life. Thanks for reading.

Care to share any of your 2014 financial goals?

 

 

 

 

 

 

Oct 022014
 

whaaWho in their right mind would be happy that the markets are getting hammered? This guy, that’s who!

While everyone is panicking as their portfolio is shrinking, I’m rubbing my hands together with glee. When everyone else is selling their dividend stock , I’ll be there ready and willing to buy their quality stocks at a discount price. Am I crazy? Perhaps, but there is a method to my madness.

Welcome to the Loonie Bin!

So why am I so glad to see my nest egg dwindling away each day? Simple! I’m an investor in quality companies for the long term. If a bank has been around longer then Canada has been a country and its share price decreases because of war or civil unrest on the opposite side of the Continue reading »