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Deleted member 50930
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Been waiting for this lol
Crash and burn please so I can buy more ETFs
Crash and burn please so I can buy more ETFs
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Stocks
- Thread starter Boots
- Start date
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Deleted member 50930
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I was surprised by how much stocks AND crypto went down…
This new variant is the fall guy for all the craziness with stocks. The 1% get to run away from whatever they did …
This new variant is the fall guy for all the craziness with stocks. The 1% get to run away from whatever they did …
Looking for some recommendations on solid and safe dividend stocks.
Not looking to do the quick turnaround, so something long term.
Obvious choices are banks and utilities (Enbridge for instance).
Any others?
Not looking to do the quick turnaround, so something long term.
Obvious choices are banks and utilities (Enbridge for instance).
Any others?
Ya. Funny how people think that crypto is safe and secure lol.
It’s big whales moving money. Pump and dump!
Oil dropping like a stone again today.
Sent using a thumb maybe 2
Sent using a thumb maybe 2
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Deleted member 50930
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Red day
Yes for energy and banks.... Also, don't forget to do a DRIP if you have enough to get shares from the DRIP. Might as well compound!
Another one that I have done off and on is Pizza Pizza Royalty Corp (PZA.TO). Currently ~6% yield, I have seen it as high as 9%. I have not been in it for a few years though and there was a rough patch a while back. So really one to keep an eye on.
IMO, avoid any that pay more than EPS, that is always bad news and can be far too common as they are yield driven. Even ones that pay out almost all of EPS as they are not reinvesting in the business. PZA.TO pays out near 100% but it is a bit of an exception IMO, it is not like there is a lot of R&D in pizza....
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Deleted member 50930
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Drip is amazing.
Wealth Trade does not support (I think)
Wealth Trade does not support (I think)
I'm with Questrade and they do support it, just need to fill out the paperwork.
Ideally I'd buy into my TFSA with an LoC and then use the dividends to pay off the loan. That's how my buddy is doing it, but I'd need a TON of shares to be able to make payments on the LOC.
With my current job, I don't think it makes sense to put much more into the RSP as the OMERS takes a good 15% and IIRC I'm only allowed to contribute a max of 18% of my previous year's salary.
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Deleted member 50930
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Who I use too.
My long term ETFs are all DRIP
Who I use too.
My long term ETFs are all DRIP
Drip is good but you normally need a big chunk of capital to make it work. Especially with dividends paid out bi-annual, quarterly or monthly. With pza.to at $11.80 and monthly dividend of $0.06, you need more than $2400 in to start the drip. With something like royal bank @$130 and 1.08 quarterly, you need about $16000 to start a drip.
With aapl, I have enough in to make a drip work but intentionally dont do it. It is overweight in portfolio so pulling the dividends out and putting them elsewhere helps correct that over time. I dont normally sell to rebalance, if I think it is worth having, I let things ride, if I think There is a reason to sell, I sell it all.
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Deleted member 50930
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True. I just set it up eons ago when I was starting out
True. I just set it up eons ago when I was starting out
The margin is really tight on that plan. You borrow at ~2.35% (variable and headed up soon), get a 6% yield, pay >15% tax so you are left with about 3% assuming no change in the price of the security. Price changes could easily either supercharge return or wipe it out.
Besides Enbridge I also have Chemtrade Logistics on the TSX (CHE-UN.TO). It's a company that sells chemicals wholesale to industry.
Currently selling at $7.79 or so and pays a $0.05 dividend monthly ($0.60 annual) which is about 7.6% return just on the dividends.
I bought it back when the dividend was $0.10 but then Covid hit and they slashed it. I'm expecting at some point it'll get raised again. Seems like a nice safe play and The Motley Fool and others keep mentioning it.
I thought with DRIP you buy fractional shares directly instead of having to have a full stock purchase? That's how I understood it...but I'm technically very dumb when it comes to this. I have been taught 'no debt' is the way to go...so cashflow got eaten up to pay down debt...but not invested.
Well there's no tax because it's a TFSA...so my plan was to buy 5k worth of dividend paying stock...pay down the 5k, while those grow. Then buy another 5k....pay down...5k...pay down...
I've got 70k worth of space in my TFSA so it's just a way to speed up the filling up of this account. I'm ok with paying some interest but just want to speed up the process. Things go sideways...sell the TFSA and just pay back the LOC.
Most of my securities are not DRIP eligible so I use DPP which is similar but broker side instead of security side. Company pays dividend and broker buys as many shares as possible with no fee from that money. That only buys whole shares.
I checked RY which is a DRIP. It is only buying whole shares. The bookkeeping they do is strange, I will need to look at it more to see what happens. I got a dividend in cash on Nov 24. On Nov 24, that dividend was removed as cash for reinvestment. On November 29, there was a buy for as many whole shares as possible out of that dividend. All good so far, that all makes sense. On Nov 29, there was then an entry for reinvestment that added the entire dividend back as cash. That one makes no sense, I think it should be dividend minus buy back as cash. Of course the investment account doesn't provide a running cash balance to see what is going on. Once quicken is updated I should be able to see what is happening.
Apparently, although I could see my HELOC and investment accounts on the same screen, there was no way to transfer the money between them. That is fixed now. I transferred some money and bought some che-un. Fingers crossed. Accounting is clean as HELOC money moved directly into investment account instead of around a big loop of abstraction and holds that was apparently required before today.
Money instantly appeared in investment account. Didn't show up in HELOC yet. Mortgage payment came out of my account on Nov 8 and mortgage balance has not changed. My guess is mortgage will catch up at month end. All very interesting.
Money instantly appeared in investment account. Didn't show up in HELOC yet. Mortgage payment came out of my account on Nov 8 and mortgage balance has not changed. My guess is mortgage will catch up at month end. All very interesting.
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