Steps on How To Start Dividend Investing for Canadians

Steps on How To Start Dividend Investing for Canadians

Step 1 – Choose your investment platform

I’ve personally used RBC, CIBC, and TD brokerage account but I switched to Questrade for two reasons. It’s low cost and it’s free to buy ETFs. Lowering Fees or no fees will make your money grow faster! Please visit Questrade to open an account

Step 2 – Screen Dividend Stocks or Dividend ETFs

Here are some of my tools to screen stocks or ETFs

• Yahoo Finance
• Simplywall street 
• Individual Corporate Sites or ETFs sites such as iShares, BMO ETFs, and Vanguard ETFs
• My iPhone OS stock screening
• ValenzuelaPost.com – This is my other website that I created to check news & trends such as Market news, Business news, Tech news, Crypto, and etc…

Step 3 – Choose Dividend Stock or Dividend ETF to buy

Buy the Stocks or ETFs you’ve chosen. If you can, DRIP(dividend reinvestment plan) your stock or ETF the better. You put your compound growth on autopilot. Plus, you don’t have to pay a fee when buying a stock!

Here are some of my holdings in Questrade and WealthSimple.   I strategically allocated my portfolio to 30% Canadian, 30% US and 30%International all in Equity.  10% Bonds.

• XDU – iShares Core MSCI US Quality Dividend Index ETF [USA] [RRSP]
• ZWE – BMO Europe High Dividend Covered Call Hedged to CAD ETF [EURO] [RSSP]
• ZDI – BMO International Dividend ETF [INTERNATIONAL] [RSSP]
• XEI – iShares S&P/TSX Composite High Dividend Index ETF [CANADA] [TFSA]
• XRE – iShares S&P/TSX Capped REIT Index ETF [CANADA] [TFSA]
• RY.TO – Royal Bank [CANADA] [TFSA]
• BNS.TO – Nova Scotia [CANADA] [TFSA]
• TD.TO – TD Canada [CANADA] [TFSA & RRSP]
• CM.TO – CIBC [CANADA][MARGIN]
• BMO.TO – BMO [CANADA][MARGIN]
• SU.TO – Suncor [CANADA][MARGIN]
• Balance Fund [Weatlhsimple]

Step 4 – Track it and Watch your Dividend Income Grow!

Please feel free to post or send your question, comment, suggestion or opinion