Month distribution .0775 per unit, consistent with prior months. Yield about 14%.

So much more than what gets earned in a savings account. Not that the assets are the same risk, but you know what I mean?

This will be funded by birthday money, gifts, and Child Tax Benefit payments received, and invested in moat companies that pay dividends.

If all goes well, by the time my child turns 18, there will be at least $100,000 in this account.

What an important book - and I finally found it after 6 months of searching!

These formed the underpinnings of Warren Buffett's investment approach, and well worth reading.

While there were many editions of SA, the 2nd edition, originally from 1940, is regarded by many as the pinnacle.

This is a reissue, so I feel no problem marking it up with my notes - which I have already done several times.

By having the funds deposited into my Child's trading account, in her name, any income, dividends, capital gains are taxed in her hands and not attributed back to me.

This account can grow by the amount of benefit each month, which is $100 per month for the UCCB and $38.45 for the CTB. Annually, this is $1661.40. In 18 years, that amount is $29905.20 in principal only.

Attribution rules will deem income in Transferor's hands when the Beneficiary is a child and Transferor has directive rights to the funds invested. However, if the funds invested are the child's, such as from a Child Tax Benefit, then the income is not Attributed to the Transferor but taxed in the Child's hands.

TO DO:

- research if the Canada Child Care Benefit can be likewise treated as the Child Tax Benefit
- research if gifts from other family members or friends are also Attributed back to the giver, or taxed in the Child's hands.

This will continue to grow and be taxed in my Child's hands, rather than in a Parent's hands.

Also, any gifts received from non-resident relatives will also be treated similarly for tax purposes.

A paper trail is important to be kept to document all moves for tax audit purposes.

Here are my year to date results.



Seems to be steady lately after a volatile midyear correction!

..a TFSA, a Trading a/c, and a RRSP. Together with her contribution we are able to qualify for their lowest trading fees. The difference is substantial...$9.99 per trade rather than $29 per trade!

The value has gone up since I bought mine, but probably less dramatically than others in the city.

What makes our neighborhood special is that we are all friends - I went across to ask how the family is doing, where are they going, and wished the departing family well in their future and they are always welcome back to visit.

Okay, maybe Investment is a bit of a misnomer, but at least we have pooled our capital such that we are at the much lower commission fee rate on trades. This will help, especially as I explore Covered Call Writing, and dust off my knowledge of Options which I started learning 5 years ago.

Let the bull market loose! Or bears, for that matter. I'm ready for ya.

Here's my newest wins chart:

This was the updated set of 2009 goals:
This is my first entry. Here are my goals:

SHORT TERM (1 YEAR OR LESS):

1. Pay off 1 debt. Currently $10,000 - Completed 2009 July 27
2. Maximize daughter's Education Savings Plan. Currently at 80% effectiveness. - Completed 2009 June 1
3. Sell 3 store locations. -Completed. Sold 2 stores 2009 Aug 1. 3rd store Sold 2009 Oct 1. Closed Office 2009 Dec 9.
4. Integrate investment success habits. -Completed? Currently reading Buffett/Graham/Value principles. Restructuring investment accounts.
5. Resume online business. -Incomplete. Currently working on new blog. Reinvigorated eBay selling.
6. Receive $200 per month from dividends. -Completed 2009 August 24. Currently receiving $240 dividends per month.

MID TERM (5 YEARS OR LESS):

1. Pay off all debt. Currently $10,000 and $85,000. -total debt now $79000.
2. Own 1st Investment Real Estate Property. Currently 0
3. Create a new active business
4. Develop a new educational product line
5. Earn $2000 per month from dividends.

Comments:
Well, I am pleased that my 1 year goals were mostly achieved. The only one that was incomplete was the Resume Online Business. I still like my MID TERM goals. I am grateful for my co-workers, this Blog, my family, for the support and encouragement I had during 2009. Without them, I would have accomplished none of this.

Next Steps:
I will recast a new set of 1 year goals, and reiterate my 5 year goals, to the top of this thread.

Pretty satisfied with the year, despite the inevitable dips.

I called my broker to get an update on this dog. I can redeem as early as March 2, 2011. However, they HALTED REDEMPTIONS. This was announced Nov 26, 2009. They will arrange for annual distributions. Their phone number is 1.800.461.4814.

Actions:
Call and find out what's going on.
Prepare for redemption.

I called my broker and complained that I was earning too little from their Money Market fund. So bad in fact, that the Cash position earned more as a percentage!

He said that I had two better choices:

1. Renaissance High Yield Savings.
2. Manulife High Interest Savings. (MIP510)

Currently, both of these are yielding 0.75% which is small but perhaps five times better than the MMF yield. I checked against PC Financial, which offers between 0.5% and 1%, and ING Direct offers 1.2% but inside trading accounts, these rates are not available. So, I settled on the Manulife, because it is accessible online for transactions, whereas, Renaissance can only be purchased by a broker from a phone call.

This accomplishes one of my 1 year goals!