Welcome to Dividend Earner!
In 2009, I fired my financial advisor and took control of my investments. Since then, I share my dividend growth investing experience along with my mistakes and learnings.
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Conquer The Basics
Investing can be overwhelming and you are not alone if you fell that way! There is a lot to learn when you start. You simply need to take your time and master the basics one step at a time.
One of the first decision many investors will focus on is to choose between a TFSA or an RRSP account. Your next step will be to choose an investment but to avoid any emotional decisions, which can be detrimental, you should establish rules. See my 7 Rules of Dividend Investing as an example.
Once you make up your mind on the account and the investment, you need to choose the discount broker to buy and sell investments.
Taking control means having confidence in your decisions. As you get better, you will need tools to calculate your rate of return or decide how many stocks you should own. When building a financial plan, you will need to establish a desired retirement cost to target and decide on your asset allocation with a strategy to rebalance your portfolio.
Sounds simple but there is a lot to it. Take it one step at a time.
Once you are in control, you should have a compass and it’s time to equip yourself for the journey.
Until you have a clear investing strategy, selecting an investment can be challenging. I use the dividend growth investing strategy, but even then, the strategy can be broken into the accumulation strategy and the retirement strategy. The accumulation strategy optimally builds wealth whereas the retirement strategy retains wealth and provide income.
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