Maxed out my TFSA, No Nore Monthly Contributions, and New Stock Purchases

Maxed out my TFSA
Hey guys! I would like to provide a few updates regarding my TFSA account and new stock purchases. If you follow my blog for a long time, you know that I make monthly contributions and stock purchases in my TFSA account. This time, I decided to make some changes and maxed out my TFSA right away. One of the main advantages is that I will boost my income and will collect higher payouts throughout the year.

The Bumpy Start of 2020!

What a rough start of 2020! The tension between the US and Iran, the killing of an Iranian general, the missile attacks on American bases in Iraq and the latest downing of the Ukrainian plane killing all 176 people on board including 63 Canadian citizens. All of this will contribute to the market downturn in the next few weeks. So far the markets were resistant to all the negative news related to the Middle East. I believe it’s the plane crash that will unleash the market selloff.

Portfolio Value Update - December 2019

Hey everyone! Welcome back. I hope you’re all enjoying the time off this holiday season. December 2019 and a whole decade is now behind us! Wow, what a journey it was. We made a lot of progress in personal and financial front. With that being said, it’s time to report my monthly update, but first, Cheers to the next decade! May the new decade give you the strength and motivation to focus on your ultimate plan towards financial independence.

Portfolio Value
In December, my portfolio value decreased by $574 and closed at $83,098.59. Not bad, considering that in November my portfolio value increased by more than $3,000. I was anticipating a greater decline in value due to the sell-off season, so as far as the portfolio value goes, I’m happy the way we finished the year.

The Last Stock Purchase of the Year!

I’m happy to announce that the last stock purchase of the year is completed. I decided to add to my TD Bank position. The TD shares slightly decreased this week so I decided to take advantage of a lower price. I bought 13 shares at $73.76 per share and added $39.88 to my forward dividend income. TD is a quarterly dividend payer. The next ex-dividend date for TD is Jan 9, 2020 and the payout date on January 30, 2020.

One of my investment objectives for 2019 was to invest in Canadian Banks. I think that worked out as planned. Over the course of a year, I bought shares in Royal Bank, TD, BMO, and CIBC. I also own shares in a regional bank, Laurentian Bank.

My total portfolio exposure to Canadian banks is about 11%. Next year I plan to double my positions in Banks and start a position in BNS. Canadian Banks are very well run businesses and they can weather the storm in case of a recession.

And speaking of a recession, I hear more and more topics regarding the recession in 2020. Analysts like to hype the drama to sour investors' sentiment. Don't fall for that trap. Even if the correction happens, it will be short-lived. Take advantage of any corrections and invest in blue-chip stocks and you will be fine.

What are your investment plans for 2020???

Portfolio Value Update - November 2019

Hey everyone! Welcome back. It’s time to report my monthly progress. November is now behind us and we only have one month left in this fiscal year. In my monthly reporting, I like to monitor my stock portfolio value, dividend income, and overall growth. These reports help me stay motivated on reaching my financial goals.

Portfolio Value
In November, my portfolio value increased by $3,016 and closed at $83,673. That’s a big increase considering that I only invested $575 of fresh capital and reinvested about $350 from dividends. The rest of the increase came from stocks appreciation. The TSX (Toronto Stock Exchange) recorded good gains in November, but I expect the market to turn around in December for a tax-loss selling season.