Here is a link to the BBC Working Lunch programme article about spreadbetting which is quite interesting.
http://news.bbc.co.uk/1/hi/programme...ch/6560945.stm

Mike first of all,read books by Warren Buffet and the Beardstown ladies(well their earnings were over inflated inthe 90's ,when actual earnings were around 9%.)however they survived the dot com melt down in the late 90's and early 2000's.


Initially I borrowed 35k in the late 90's and started flipping on dot com stocks
Did very well but became greedy and did not sell when it was time to sell.
Lost about 10k and everything went down hill especially the self esteem and
confidence. During the dot com hey days,Warren Buffet was looked upon as
being not too sophisticated due to his down to earth investments on dividend stocks.

Changed my thinking and attitude, read about the psychology of investors
by James Dime.I was lurking on forums on www.stockhouse.ca
There are retirees there making $$ from oil and gas,real estate royalty trusts
just from the monthly income.At that time oil was under $20
Started reading books and magazines about retirees who shared their
investment strategies and watching some of my elderly friends who went
to Arizona for vacation. They showed me their portfolio.
There were royalty trusts and banks on their portfolio .

Then came 911, on that day I stared buying TD bank, Riocan real estate trust
and Prime west oil and gas stock.I think I spent around 25k.Monthly dividend
from Riocan was $90(.09 a share),Primewest$ 100 (0.10a share)TD paid quarterly.
Then gradually I started to accumulate on the dips.
I still like Riocan symbol rei.un
http://www.stockhouse.ca/comp_info.a....UN&table=list
http://www.stockhouse.ca/comp_info.a....UN&table=LIST

I invested a lot on oil and gas and oilsands royalty trusts,they are risky but
they pay very generous dividends monthly,just watch out for the bottom line
and management performance.
Regarding Royal Bank shares or any banks.
You could start small ,I bought sometimes 50 shares and accumulate on the dips.They pay 0.30 quarterly
http://www.stockhouse.ca/comp_info.a...=RY&table=list
I talk about stocks with my dentist,he knew of a retired colleague
he referred him as the old guy down the hallway.Apparently he only
bought Royal Bank and Bank of Commerce stocks,he was advised by his
friends to diversify and that old guy refused to listen.Now this old guy is
laughing all the way to the bank
Good luck Mike, library has tons of books and financial periodicals
to borrow.There are more websites and forums that you could
check out.Don't want to overwhelmed you ,I do feel excited when talking
about stocks.
Yoong

Thanks yoong for sharing. Nice detail you give, well explained, so it is easy to relate to it.

As suspected it does require an initial cash outlay, plus the vital info/knowledge/research you refer to in your last post. And of course there is risk involved. I suspected that.

Me, I kinda like those mutual finds that are heavy in banks. I have always held the view that banks are essentially licences to print money so why not invest in them? Printing Money? Here I exaggerate a little of course but I dont think I am too far off.

I recall years ago all that doom and gloom as banks went through writing off huge loans to some third world countries which defaulted on their debts. South America comes to mind. Well despite these 'bad times' the banks sure 'compensated' later on with service fees, those tiny charges that add up (just look at what it cost for an NSF cheque), plus healthy spreads on their personal and commercial loans. And of course those awful ATM fees.

I have not heard of any federal initiative to curb bank profits. Surprise, surprise!

I have not heard of a bank in canada going under in the last 25 years so they are here to stay. I am sure of that.

Select an industry get on the speaking circuit and it is surprising how quickly contact build up. Depending on specialty chambers of commerce, trade associations, business groups etc. Check out
Canadian Association of Professional Speakers
www.canadianspeakers.org/

Writing for industry magazines also helps build credibility and awareness.

Thanks Surrey Expat .. will look into it.

PS .. I find the responses on this thread really great.

Hi Mike,

Just something that I have been thinking about going into recently is copy-editing and proofreading. You can do this at home in your own time.
As you are a chartered accountant, (I am hoping to qualify in 2 years) you could specialise in financial material. This would pay better than just regular books, etc.

Have emailed.

thanks, it hasnt arrived yet

Ah, I meant I have emailed the home worker to ask the name of the employer.

aha i understand. thanks again

Another great idea.

The problem, and I have alluded to it above already, is that with all these skills and great experience, how does one go about finding the work?

How does one establish valuable contacts?

PS .. Good luck on your future as a CA. As I recall the standards are high and the exams tough.

But, since Mike is a CA, wouldn't he make more money if he did actual CA stuff rather than proofreading and editing someone else's book about CA stuff?

After all, CA stuff is something that one can do at home too. The accountant who does the tax return for my husband's and my company works out of his house.

Judy .. I am not a practictioner. Never have been. My background has been in industry and government. Also I would need to carry professional liability insurance which is not cheap.

Elance is a website where companies and individual entrepreneurs post projects that they want to have done for them. Then individuals who want to do those projects bid for them.

There are different categories : website design, graphic design, writing of various kinds, business consulting, sales and marketing, management and finance (including accounting), training and development.

The only limitation is that you are up against people who live in India and other countries where the cost of living is much lower and who can afford to place low bids.

On the other hand, I doubt that someone in another country would have specific knowledge about Canada's tax laws, etc., so you still would have an advantage over them in that regard.

Thanks again forthe link.

Funnily enough Judy I recall a program a while back when this whole offshore topic started.

It showed call centres in Bangalore and also, what struck me, some of the world's largest accounting firms shipping electronically data to India where an army of eager young accountants would be tirelessly completing tax returns. They had the manuals and all the requisite info at hand.

Once data was input at their end the completed files were sent back to the US electronically where they were checked.

It was cost-effective which is a euphemism for cheap low cost labour.

It ain't only manufactured goods which are handled offshore. Services too!