With the big correction last month I slowly started to sell off a lot of my portfolio and take the gains I had made. A lot of the stocks I held were in the green and EV space as well as all the ARK funds.
With the volatility in the market I decided a couple of weeks back that I would start to make my portfolio a dividend machine. Probably not a bad idea as I sit at 55 years old and need to safe-guard my money as I try to retire in the next 2 - 5 years. I have 4 different accounts in my portfolio and they are as follows:
1. LIRA account which is my pension funds from that same company.
2. RSP account which started from my share purchase plan from one of my former employers. Also for the odd option play.
3. TFSA account which is like an RSP but gives me a bit more access to my money if I decide to withdraw without penalty. Can be used for options as well.
4. Cash account. This is more for my speculative (penny) stock purchases. No dividend stocks in here.
In total I have just over $300,000 total in all accounts. The way they are listed are biggest to smallest in terms of total value. I have tried to keep all stocks to a $5000 value.
As of right now I can expect an annual dividend income of just over $12,400 (CDN). Averages out to be $1,000 per month. All accounts are set-up for DRIP so the money will be re-invested into the stocks that payout. I've already gained a couple of "free" shares for this. It will be interesting to see how this compound over time.
Over the next couple of weeks, I'll start putting the stocks I own with their payout ratios. With the dividends and capital appreciation I'm hoping to gain around 10% annually. I'll take that any day of the week.
What I've found so far is I don't get the big daily gains like before, but I don't get the big daily losses when the market tanks. Slow and steady hopefully wins the race.
Please leave comments on your thoughts.
With the volatility in the market I decided a couple of weeks back that I would start to make my portfolio a dividend machine. Probably not a bad idea as I sit at 55 years old and need to safe-guard my money as I try to retire in the next 2 - 5 years. I have 4 different accounts in my portfolio and they are as follows:
1. LIRA account which is my pension funds from that same company.
2. RSP account which started from my share purchase plan from one of my former employers. Also for the odd option play.
3. TFSA account which is like an RSP but gives me a bit more access to my money if I decide to withdraw without penalty. Can be used for options as well.
4. Cash account. This is more for my speculative (penny) stock purchases. No dividend stocks in here.
In total I have just over $300,000 total in all accounts. The way they are listed are biggest to smallest in terms of total value. I have tried to keep all stocks to a $5000 value.
As of right now I can expect an annual dividend income of just over $12,400 (CDN). Averages out to be $1,000 per month. All accounts are set-up for DRIP so the money will be re-invested into the stocks that payout. I've already gained a couple of "free" shares for this. It will be interesting to see how this compound over time.
Over the next couple of weeks, I'll start putting the stocks I own with their payout ratios. With the dividends and capital appreciation I'm hoping to gain around 10% annually. I'll take that any day of the week.
What I've found so far is I don't get the big daily gains like before, but I don't get the big daily losses when the market tanks. Slow and steady hopefully wins the race.
Please leave comments on your thoughts.
