In today’s post, I would like to share with my readers about my plans and goals for 2019. With only one week left until the New Year, right now would be the perfect time to plan my investing strategy and new goals.
TFSA Contributions
Let’s start with TFSA (Tax-Free-Savings-Account) contributions for 2019. The contribution room was raised by $500 so the new contribution room for 2019 will be $6,000 instead of $5,500. I also have an unused contribution of $900 from previous years. Therefore, my total contribution for 2019 will be $6,900. My monthly contributions towards my portfolio will be $575 (6900/12=575).
Monthly Stock Purchases
Just like this year, I will continue to make monthly stock purchases in 2019. My monthly contributions and dividends will be combined to make one purchase per month. My monthly purchasing power will be around $900 ($575 fresh capital + $300+ monthly dividends).
Stock Picks
In 2019 I will focus more on Bank stocks, residential REITs, and Energy stocks. On my watch list, I will have stocks like TD Bank, Royal Bank, Nova Scotia, Killam REIT, Canadian Apartments REIT, and of course the whole basket of Brookfield businesses like Brookfield Properties, Infrastructure and Renewable. I will also grow my existing positions whenever the stocks are on sale.
Portfolio Goals
- Reach $70,000 in portfolio value
- Reach $350 in regular monthly dividends
- Reach $4000 in dividends
That’s it! I would like to thank you all for another great year! Merry Christmas! Happy New Year! Have a great and relaxing Holiday! Enjoy the break. Relax. Come back strong. Hassle hard. Invest wisely. Best of luck in 2019!
sounds like a good game plan German.
ReplyDeleteMerry christmas to you and your family as well.
Ho ho ho
Thank you! Merry Christmas and all the best to you as well.
DeleteHi
ReplyDeleteNice and easy reading goals. Also what a nice pruching power with that extra dividend comming in hand. I will also put my 2019 goals on my blogsite but still not finished thinkig what my strategy for 2019 will be..
Greeting from a Swedish Dentist :)
Hey there! Greetings! Nice to see people coming to my blog from Scandinavia. Let me share with you a nice coincidence. I make aviation videos as a hobby and this week, for the first time, I filmed a plane from Norway. And now today I get a comment from you. A Scandinavian plane and Scandinavian visitor. NICE!
DeleteNice goals German! I believe you will definitely be able to achieve them. I like the fact you are going to max out your TFSA account, that is something I am trying to do as well. Thanks for writing this post, it reminds me that I need to do some thinking and come up with my goals for 2019. Happy New Year! :)
ReplyDeleteHey Matt! Yeah, first I will max out my TFSA and then I will max out my wife's TFSA. Two TFSA accounts will work for us tax free. Looking forward to seeing your goals for 2019. Happy New Year!
DeleteGerman, Happy New Year to you and your family!' I am also looking at bank and REITs. BNS now is cheaper than the first time I bought them two-three years ago. Nice goals.
ReplyDeleteHey AIS! All the best to you as well! Yes, the banks are on sale right now! Great time to add to your positions.
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