117 More Td Bank Stock – Curls for the girls.

117 More Td Bank Stock – Curls for the girls.

Good evening

Well all the delays of the transfers have now came through. Oh and we refinanced our mortgage and pulled out a nice chunk of change to start and also max out the wife’s tfsa! ( and other passive income, stay tuned) All of this has came into our account in the last 3 business days. It’s amazing how fast a bank can do stuff if they are making money off you… ie take over our mortgage.

I think it took maybe 3 weeks total, from the first meet to the money in the account and the new mortgage balance. Transferring our sons RESP’s out of rbc mutual funds (2030 fund) and also transferring wifes rrsp from another broker took 2-3 months. Ahhh well time to stack some dividends!

With all this money sitting I want to just throw it all into the market but am a little leery of a pullback once I do that. So slowly but surely I’ll be investing it. Last week was our new position in General Mills. Today I jumped over TD bank stock.

TD Bank Purchase

I thought Td would be a great buy for the long term. All the Canadian banks pulled back after TD was called out for their pushy tactics (all banks do this). Also the threat of the Canadian Housing Market Correcting. Who knows if it will ever pop.

I used to be a doom and gloomer back in my precious metals days, trust me it sucks. Now I love when you hear about this kind of stuff, gives a chance to buy stocks cheaper! Bring it on.

The other day we purchased 117 td bank stock for her TFSA. With the current quarterly dividend of .60 per share this will bring in $70 a quarter which will be dripped back into TD. You know we got to get that drip right?

That’s always the goal for us. Once we start a new position I would love for that dividend to be buying more shares of the company each quarter. Compounding at its finest!

TD has been paying a dividend every quarter since 1857 and has been raising it every year since 1969. Well not exactly, they stopped in the financial crisis. Either way got to love that commitment to shareholders. MMMMMmmmmmmmm OH YEAH!

Td bank is also one of the 2 wide moat bank stocks on the tsx. (Royal being the other) As the portfolio grows I will try focusing more on wide moat stocks moving forward, they tend to perform better.

This purchase will also boost my January, April, July, October dividend incomes which is great since they were still under 100$ per month (not no more). It also increases my US exposure as they tend to do a lot of business in America as well.

Conclusion

Hopefully the market pulls back a bit and offers some better opportunity’s moving forward. If I see a nice pull back you know I’ll be there. At the same time I’m a long-term investor and that old adage of time in the market beats time in the market still stands true. Ill keep some cash on hand for opportunity’s but generally Id love to put that cash to work asap.

I’m sticking to Canadian stocks for our tfsas and Resp. The RRSP is for US Stocks that’s why you will see mostly Canadian stocks at the moment as I focus on maxing those tfsa accounts.

Anyways 117 more td bank stock working for the portfolio now, gotta love it.

What do you guys think? Any stocks I should be checking out?

Tri’s for the guys, Curls for the Girl’s – Time to pump up this portfolio!

Cheers!

Rob

Hey I’m Rob, creator of Passive Canadian Income.

In 2011 me and my wife had almost $60,000 in debt and a negative $7,000 Net Worth. Through hard work and financial education we paid all that off. Now we are focusing on increasing our Passive Income Streams to make the money work for us. Feel Free to Follow along the Journey by clicking the Social Media links below or subscribing to get notified of new posts on the sidebar.