Since July 2014 I began investing in dividend stocks. In the beginning of my investing days I had only invested in mutual funds offered by my bank. Tired of the high fees and doing some research I chose to open a brokerage account and move my money to invest on my own.
My portfolio is made up of two accounts the Tax-Free Savings Account (TFSA) and the Registered Retirement Savings Plan (RRSP). I have two different strategies for my accounts with the TFSA I only invest in stocks that pay dividends monthly. The reason why I have done this, is to help improve my income during the months when I don’t receive as many dividends from my RRSP account. For my RRSP account I buy a stock regardless of when they pay a divided, I just pick the best stock at the best price. When purchasing a stock I look for stable companies that can afford a dividend, have a mid to low payout ratio.