I certainly was not rich when I started to invest. I had little money. It was the 1970’s so I bought Canadian Savings Bonds on a monthly basis and cash them in, in November each year to buy some stock or mutual fund. Times were different back then and buying a bond with monthly payments worked for me. I was also lucky that the bonds came due in November as it just happened to be a great time to buy stocks.
I made a few false starts in the 1970’s. I did not know what I was doing. People talked a lot about investing in mutual funds. However, by themselves the Canadian Savings Bonds were great because of high interest. In fact, you could make more money in bank savings accounts than investing. But, I still have some stocks I bought in the 1980’s of Bell, Bank of Montreal and Fortis.
Today you can do a similar thing. You can put money away each month into a savings account to buy stocks when there is enough money. You can take out a line of credit or use a margin account if you have the discipline of paying into your account on a regular basis. I still have a line of credit account for buying stock.
When I started buying stocks, the transactions fees were much higher and you had to buy what was called a Board Lot (100 shares), but most stocks were $20 or less a share. Now share prices are much higher, fees are a lot lower and you can buy any number of shares.
It took me a while to realize that the only shares I should be buying for me were dividend growth stocks, but I did finally learn that. I have a portfolio filled with dividend growth stocks and it is doing very well.
On my other blog I wrote yesterday about Chemtrade Logistics Income Fund (TSX-CHE.UN, OTC-CGIFF) ... learn more. Next, I will write about Alimentation Couche-Tard Inc (TSX-ATD.B, OTC-ANCUF) ... learn more on Friday, August 20, 2021 around 5 pm.
This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.
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