Thursday, July 20, 2023

Second Source of Income

I think that it is important in today’s world to have a second source of income. You can build that with Dividend Growth stocks in a TFSA. The TFSA lets you invest in stocks tax free. You cannot do things like day trading in such an account, but you can build a solid portfolio as an emergency fund.

Even in the best of economic conditions you can lose your job. Mine was threatened due to the firms I worked for downsizing. The latest would be the lockdowns we had for covid. If you have another source of income, you can weather employment problems better.

On my other blog I wrote yesterday about Pulse Seismic Inc (TSX-PSD, OTC-PLSDF) ... learn more. Next, I will write about TECSYS Inc (TSX-TCS, OTC-TCYSF) ... learn more on Friday, July 21, 2023 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.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

1 comment:

  1. It is the same as investing for income. A great idea. TFSA must be used very carefully to invest for tax free growth, imho