Busy week around here.
The Annual General Meeting for our strata corporation was a complete waste of time. After knocking on doors and burning up my weekday cell phone minutes tracking down lazy condo owners, only eight people showed up at the meeting. That includes three members of the condo board.
Eight people out of forty.
Thank goodness I kept hounding our Sheeple owners to sign their forms or we wouldn't have had enough bodies/proxy forms at the meeting to have a majority vote. Without a majority there's no use having a meeting - we would have had to reschedule. Another waste of time.
The only satisfying moment of this years AGM was when I resigned from the board.
It's also been a busy stock month. I've sold a couple positions in September including Colabor (a Quebec based distribution/supply company) which I will buy again before December. Colabor (GCL-T) has already converted to a corporation. The company is strong and the quarterly dividend is very attractive.
The other financial highlight this month... my PIG is right on track.
PIG = Passive Income Goal. Not a true technical term :)
Government agencies define Passive Income as "money you earn from trade or business activities in which you do not materially participate". Examples of Passive Income include: government or company pension, rental properties, book or song royalties, website ad income, or dividend/interest income from owning securities.
The more passive income you earn, the quicker you can quit working. Early Retirement here you come!
Pension is not an option but I've tried all the others:
I owned a rental property in the past but wasn't crazy about being a landlord I wrote a book but the money went to charity so no royalties for me At one time I considered selling ads on this site but there probably wouldn't be much interest. And I find website ads annoying so why would I do that to you? Yes, all three of you that read this blog regularly :)
Via process of elimination I've realized the easiest way to reach my PIG is dividend and interest income. Although there is a lot of research required to pick good companies and buy at the right time. I guess 'easy' is relative, isn't it? If you don't enjoy research/reading/business lingo, this option won't be easy.
My PIG for January 2010 is $30,000/year or $2500/month, tax free. That is the equivalent of earning $38,000 a year in British Columbia before taxes.
I'm at $23,150 right now but if our condo sells in the next few months, we'll hit the PIG for January. And we'll surpass it if I can sell the condo privately through Craigslist.
Fingers crossed.
Comments