Sunday, 14 February 2016

Starting the savings

In 2016, I started to dream about getting financially independent.
So, started putting some money in TFSA. A small sum of $5000 and started a low cost trading account.
I bought few shares of Bank of Nova Scotia, Bell Canada and Algonquin Power.
I heard about ETF only recently. So, as a beginner, I got few shares of XIU.
I am reading some personal finance blogs starting in February. They mentioned about DRIP. That is dividend re-investment program. So, I called and asked my trading firm to  start that program to me as well.
Since my employer is not deducting my income tax, I really have to start RRSP . Otherwise I have to pay to the government when i do tax.
I got a loan of $8000 and started another trading account with that.
I bought two ETFs win that one.
1. ZRE
2. VCN
Still there is cash in it. I am going to DRIP the earning in that too.
To start investing in US$, i need to fill up some forms too.
Since the markets are down, my investments are down too.
I love to buy few shares of the Canadian banks too. May be Royal bank? May be CIBC?


  1. Good start. For DRIPs you might want to check CST (AST in the US) or Computershare. Here in the states they allow fractional shares which increases the compounding effect.

    1. Thanks for visiting. Will check that one.


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