I bought my first Royal Bank of Canada shares in early 2000s. I was getting a 3.8% yield in dividends then on these Royal Bank shares. A 2-for-1 split and a number of dividend increases later, I am now getting the equivalent of 16% yield in dividends annually from my original investment. This is in addition to having collected the dividends all these years. The capital gain has been phenomenal. I can tell the same story for TD Bank and to a somewhat lesser degree the same story for other Canadian banks.
The education you give is great. I've seen several investing videos that you've posted. I've begun to understood about investing for the first time. I had fear of doing it wrong or hesitancy because I didn't have that much to invest. Mostly I didn't want to lose my investment. But all of that equals not understanding what to do. Thank you for giving me an understanding of what I can research so I can begin investing.
What a fantastic eye opener video, I do have money just sitting in a bank savings account barely making anything for years should have invested in dividend earning stocks but when you have no clue and like Tina said being afraid of the stock market you just don’t do anything….Thanks guys appreciate it so much
Another great video. I agree with your Dividend strategy!!! I have positions in the following: Utilities (Enbridge, Algonquin), Telco's (BCE, Rogers, AT&T), Banks (TD, BofAmerica), and some Energy plays (Pembina, CNQ, etc). As you noted, the Energy stocks have suffered, but most are still paying dividend (for now). I got lucky with Pembina (a pipeline). I bought a large position in March 2020, when it was 1/3 it's previous high. It's more than double now, while still paying 7% monthly dividend (at it's current price). I also have *growth* stocks to enable me to grow my portfolio until I'm ready to retire (MSFT, AAPL, LightSpeed, and ARKK ETF), and some of these also pay a dividend, albeit much smaller (1-2%). Also, while not a Dividend stocks, I have 2% in Bitcoin ETF's (QBTC & HIVE) which have done well since I bought in late 2020. This is more of a gamble, but at only 2% of portfolio, so I'm comfortable with it. Now I'm shaving some of the profits from top performing (non-dividend) stocks to buy more div paying stocks. The plan is to be able to live off of the div stocks alone (and hold off CPP/OAS as long as possible).
I’ve been binge watching your channel. It wonderful that you guys are letting us learn from you. I wish I was better prepare than I am now. I just turn 61 in December. I just have $1000 in bank for emergencies. Was planning to retire at 62, decided I need to wait two more years till wife wants to retire.
I just retired after a heart attack and I’ve been so worried that I wouldn’t have enough money to get by on. But after watching your videos, I realize I have plenty or at least enough. My Social Security, Pension, stock growth plus some dividends almost covers my expenses. Plus if I take $500-1000 from my portfolio every month, it will take me 30 years to run out of money (assuming no growth from here forward). So I understand now thanks to your various videos and I’m much more relaxed and relieved now. The only thing I can’t foresee is inflation cost increases. Thanks for your insight Norm and Tina.
So sorry to hear about your heart attack, we hope you have recovered well. Thanks for your kind words and for sharing your retirement story, we are happy if we have been able to help you feel more confident about your retirement. We really appreciate your support of our channel, keep well. N&T
One of the companies I was working for decided to close and we had stocks in the company. They told us that we could take our money out and invest it ourselves or leave it there and they would pay us guaranteed 6%. Well back then in the 80’s 6% was lousy but now and the past few years if you got 6% you would be very happy. I left mine in there so I have just over $720 monthly. Not bad. Thanks for the video guys. Cheers!!!
This is very good advice. But I have to remember what my financial advisor said, "every situation if different," for the individual participant. The trick is learning from your mistakes. Best wishes to all!
Just found your channel. Really enjoying as i will be retiring in 1 year and you have given me lots to think about. So i have been watching quite a few everyday. Keep up the good work
We are lucky we have "stuff" from when we were working T.V. etc, we only buy to replace broken items these days. Experiences are so much better than stuff lol.
That’s right all interest and dividends are annual, we are aware of that, dividends for the banks are paid quarterly and we have royalty stocks that pay monthly dividends. Thanks for watching.
The best book on this is "Single Best Investment" by Lowell Miller. It explains about finding and tracking the companies that give dividends. Also, the secret is compounding. By starting young, you will end up wealthy. Also Norm, you didn't talk about the difference in taxation between fixed income and dividend income. It can make a big difference. Thanks for your great vlogs.🤙
Hi Mike and Theresa glad you enjoyed it , we hope you are both staying safe and well we are great thank you , hope you have this heatwave too 🌞have a great weekend Cheers 🍷🌞🍺😎
Hey Tina and Norm! Love your outfits today both of those colors look so great on you both. That's crazy you are having a heat wave up there, today in LA, it's been rainy and cold, and windy. So we guess we switched weather for the day LOL!! Great video topic today on Dividend Investing.. it was cool to hear about the DRIP as well and about the list of Aristocrat Stocks. Do you guys do all of your own investing and not use an investor? We have an investment that takes care of all of our stuff. Here we have the same thing, you have to pay a fee to have a checking or savings account. Most of them just require you to have a minimum balance of like $1200 for checking and $2500 for savings and you don't have to pay any monthly fees. Butters remembers in Canada paying monthly fees. So annoying. Yes, October was not good for the market, but thank the Universe that November is doing better **Knock on wood** LOL!! We have heard the same thing, that people are always scared of getting into the market, and think that it's risky. But once you're in it for a while, you don't feel that way anymore. It just takes getting used to the highs and lows and riding the waves comfortably. Everyone does worry about running out of money in retirement, and we have heard about that 4% rule in the past that you won't run out if you only take out 4% a year. Love that philosophy... Eat the apples, don't cut the tree down. Living frugally does become a part of your lifestyle and you really don't notice a difference except you have more money than when you were blowing it all on monetary items. LOL!! Great video and love you guys to the mother effin' moon and hope you're having a great weekend!! :)
Hi Bears and Butters we were inspired by your Costco trip so we went and Norm was wearing his new top from there LOL 😂😂we saw lots of Christmas stuff many items like you showed us . My favourite cheese Colliers welsh cheddar 🏴Was on sale and we didn’t know it cause there wasn’t a sign is the best cheese ever it was $7.99 for 400 grams it makes me feel organic LOL 😂 Our bank at Bank of Montreal has an account if you keep $4000 in then you get free banking which we do . We do our own investment stuff and in your case if you don’t need the dividend income to live on then the DRIP way is a great way to increase your holdings which will increase your income later in life .We are enjoying our heatwave and at the moment are drinking JP Portugal 🇵🇹 red wine Cheers . Stay safe and well have a great weekend from us both ATB Norm and Tina 🍷🌺🍺😎
I found this honest and want to share I never believe in forex trading, until I got my profit of $8,020 through forex trading with the help of Mr Nicholas Myron on Instagram @nicholas__fxtrade
Great Video as always, we love watching your content, always filling us with information ℹ️👍🤩 Hope your both keeping safe & well, have a nice weekend & stay safe 🥰🇬🇧🤗xx
TFW glad you enjoyed it, we are well thank you we are able to get out and enjoy unseasonably great weather 🌞How are things in the UK we have heard your lockdown is pretty tough hope you are all well and have a great weekend Cheers 🍷😎🍺🙂
@@ThisIsOurRetirement Yeah we are a few days into Lockdown 2.0, so not much happening here, luckily I’m still working & the kids are still at school, so not that much as changed for us 🤔 enjoy the rest of the weekend 🤗
I have found that if I like a company's products or services, I often like their stock's balance sheet. After doing my own due diligence and personal research.
If a company goes bankrupt, stockholders lose everything. Bondholders become the new owners and thus usually get most of their money back either from assets which by definition are sufficient to pay back the creditors - ie a company goes bankrupt just when it looks like they can't pay back absolutely everything. So most of the assets are still there unless it's fraud. But stock price is zero during bk. Senior bank bonds are actually safer than bank deposits, which is basically the most junior of the debt (cdic insurance has only so many funds) Another financial crisis and those bank stocks are toast
That’s true but we tend to stay with Blue chip companies like our Canadian Banks that have been around for years , thanks for watching have a great weekend Cheers 🍷🌺🍺
You are being spot-on as always. We love how you put things in simple terms that can really open people's eyes to how it works. $50k just to pay for the bank fee. That was great! We really enjoy these videos. Thank you! ❤️👍👏 Donovan & Jodi
Love this video. I have been investing in high yielding stocks like Utilities and Oils. My Dividends and Interests each year pays for my travels. LOVE IT. Great video. LIKE #82. 👍👍👍👍
Because when I put my money into. Bank acct it is federally insured. When I put it into a bank stock it is not insured as well as dividend cuts like we saw with WFC.
In Canada stock broker companies are insured by the government through the Canadian Investor Protection Fund up to $1 million per account. Canadian bank stocks pay between 5% to 7% dividends they have paid dividends every year for more than 100 years. Bank of Montreal has paid dividends since 1829. Yes dividends can be cut but if the main banks do, your deposits would be at risk too. Thanks for your comment have a nice weekend 😀😀
If you invested in the best and biggest bank like JPM you wouldn’t be saying they. Not WFC that’s been in the news for years for corruption. Dividends all the way.
@@billyjohnson9166 Good morning☕️ We are just referring to Canadian Bank stock on the Canadian stock exchange which have been paying dividends for over 100 years. They have never gone bankrupt because of government regulations, hope you have a great day Cheers 🍺🍷🙂
Great video... Love dividends. I only buy stocks that pay dividends. Got really lucky with one and it's up over 230% since early this year. Most are bank and utility stocks though. Best not to micro-manage them and let them grow. Also have a TFSA as well. Cheers guys
TFW absolutely TFSAs and RRSPs both great as well , we like having a balanced portfolio with all of them , hope you are well and have a wonderful weekend Cheers 🍷👍🍺😎
Good advice as always, love how you keep it simple. It doesn’t have to be complicated, and I like that you keep it that way. Enjoy the mini heat wave while it lasts.
TFW glad you enjoyed it we are trying to make it easy for people to understand so they might think of doing some of our ideas. We are loving the heatwave I would love it to last till April LOL 😂😂Have a great weekend Cheers 🍷😎🍺🌺
You need to discuss how CPP will claw back money when one spouse dies, but living expenses are almost the same. I'm a widow and haf to experience this first hand.
Yes after 65 the survivors CPP benefit is only $332.51 from their spouses contributions. It is difficult to cope with the loss of your partner but have less money too.
My bank waives the service charges if I carry a balance and we have a senior’s exemption. This is also because we have our investments with a division of the bank and have a financial planner.
Ours does too but that is $4K not getting any interest, we are shareholders of our bank and get over 5% dividends. We don’t use a financial planner as that reduces the investment returns due to fee’s.
You have a lot of information and aren't afraid to go it on your. That's great. I'm not a risk taker and would leave our money in the bank invested in a GIC. I don't have the knowledge, experience, or strength of character to make investments on my own. I'm happy to learn from your experience.
Thanks for your videos. I'm surprised you didn't mention the tax advantage of Canadian dividends over interest. Assuming 20K income and 20K in either dividends or interest, the difference would be about $4500 less in tax (!)
Thank you so much glad you like them yes this weather is great 👍 it would be great if it stayed till April LOL 😂hope you are well have a great weekend Cheers 🍷🌞😎🍺
As a senior with BMO, if your account balance is greater than $6000 per month in your primary account they waive your fees and you still get full Air Miles points as well. If you miss a month and end up with less than $6000 in your account they charge the reduced seniors rate of $13.95 for that month. We just went through these changes. Liking your train of thought though.
Yes that’s good we are also with Bank of Montreal , I think it’s actually 4K , but just think of all that interest they get on our money 💰 to save the bank fee 🧐Cheers 🌺🍷
Sounds like quality dividend stocks at 5-6% are a great place to invest a lot of the equity of a house sale. Combined with QPP/CPP and OAS it's definitely enough for me, especially where I'll be retiring.
Great overall information. However in regards to bank fees ensure to present accurate information. TD bank for instance has accounts with fees ranging from $3.95 per month with 10 free transactions to $16.95 per month with unlimited transactions. These fees are waived if you maintain a balance of $3000 and $4000 respectively. However, bank fees are not the reason you should Not keep your life’s savings in the bank (keeping 3 - 6 months of expenses in an account for quick liquidity is wise though). Inflation is higher than the 2-3% we are led to believe so your money in a bank account or under your mattress actually loses purchasing power. So yes, good quality dividend paying Canadian Aristocrats stocks for long term hold is one piece of the retirement planning pie. Love your content. Cheers.
All the banks charge way too much for fees we did generalize and did mention BMO also waves the fee if you hold $4000 in an account , but just think 🤔 about it all these customers holding $4000 in accounts getting no interest giving the banks millions LOL 😂 We also think it’s a good idea to have a “never know what might happen fund “ just like Covid none of us has a crystal ball 🔮 and we don’t know what the future will bring . Glad you enjoy our channel have a great week Cheers 🍷🙂🍺
I had no idea about dividends until just a few years ago, so... I sort of messed up, but, now I have a few and they are fun! Here in America, many will get much poorer when they age, and perhaps not be able to stop working, not getting much from social security or anything else, it is sad.
Great video! I agree that folks should include dividend stocks in their portfolio. There's a lot of great companies that do pay, along with many that don't pay dividends. Limiting oneself to just 1 type of stock might not be a great idea (mainly the younger crowd), as you want to take advantage of a mix between dividend growth and stock growth. With capital gains being taxed the most efficiently in canada so far, (there's talk of moving the 50% taxable rate to 75% on capital gains) having a mix even in retirement could be tax beneficial. With the core income being the dividends, any extra income could be taken from non-dividend stocks with good growth that year. The plus side is that if the growth stocks are left alone, those potential taxes keep being deferred until you do sell. The unfortunate thing about large dividend income is that if you re-invest any surplus for the year back into stocks (even via DRIP), you still pay taxes on those dividends. This could end up being the case as time goes on and the payout becomes larger & larger, since dividend growth % is usually higher than the rate of inflation. The main way around that could be to invest the dividend surplus into an RRSP (if younger than 71) to defer those taxes. Since dividends are taxed lower than normal income, investing those dividends into an RRSP should actually give a tax refund since RRSP contribution refunds are based on normal income tax rates. The other option I guess could be to just put any extra dividends into the TFSA (if not maxed) and just let that surplus now grow tax free. It's crazy that the big banks charge folks a fee to have a checking account in today's age unless you have X funds sitting idle or you have multiple products through them. Same goes with these high rewards credit cards. They want anywhere from $40-$700 / year for a credit card, but then charge 20% or more interest rates!
Great comment thank you , yes our bank 🏦 has a program if you have $4000 in an account you get no fees let’s think about that all those customers with accounts is giving Bank of Montreal a huge cash flow having the money sat there no interest 😱 Credit cards with their interest is a whole big problem if you carry a balance, moral of the story pay it off and get no charges , but yes they might charge you just to have the card LOL 😂😂it’s a hard life ! Hope you are staying safe and keeping well have an awesome weekend Cheers 🍷🌞🍺😎
@@ThisIsOurRetirement lol yeah, folks need to make sure they pay off those credit card balances monthly to avoid the high rates. At least some of the banks will waive their yearly credit card fees if you have their checking account also. Normally I've avoided paying banking fees by using a no-fee bank such as PC Financial, but recently I signed up for a Scotia Infinite cashback Visa card because of the 4% groceries refund. First year fee was free, but card is normally $120 after. I'll probably be moving over to the Scotia ultimate checking package soon, which then waives that card fee. Similar to BMO for you, I'll need around $5k sitting idle to avoid their checking fee of $31. Ignoring the $31 fee (since my other bank didn't charge one), the $120yr rebate against the $5k capital is essentially a 2.4% tax-free dividend. If you take pre-taxed income into consideration (40% tax rate example), that ends up being a $200yr fee for the card saved (or 4% dividend). The % cashback earned from the credit card itself would then be icing on the cake as I don't think it counts towards yearly income. :) Have a great weekend as well!
Really informative video. Kind of wish I had had this knowledge years ago. I’m going to forward your video on to a couple of people that I think this would really help. 🙏🥰🏴🍷🍷🍷
Hi Karen glad you found it helpful, we try to just share what we have learnt and keep it simple hope you are coping with your lockdown and brighter days ahead. We are enjoying a mini heatwave going out for the day today have a great weekend Cheers 🍷🌞🍺😎
I really enjoy your videos. I was wondering what platform you use for dividend investing and do you do it through your TFSAs? You mentioned $20,000 at 5%, is this your total amount for investing or do you invest in other areas as well? I know from previous videos you mentioned maxing out TFSAs and placing cash in a higher interest bank account but do you do anything else for income outside of the "side hustle" and government pensions? I was looking into Questrade and Wealthsimple but was curious as to what you were using and what you thought of it. Keep up the great videos.
Catching up, we have been off again. Luckily our bank does not charge directly when there is a minimum balance. They obviously make their money from us but not in charges.
Hi Dave thanks for dropping by providing we keep $4000 in an account they charge us then refund the charge LOL 😂😂 glad you are still able to get some travel in as we hear all about Lockdowns over with you . Have a great weekend Cheers 🍷🍺😎🍁
@@ThisIsOurRetirement wales comes out of lock down tomorrow I think, England just went into a lock down. In Scotland no second lock down yet but we reacted quicker than the other countries to an increase in cases. So far those measures seem to be working. We can travel West , North and East but not to the central belt of Scotland so weekends are still able to be out and about. take care and stay safe.
Hello Norm and Tina. Thank you for sharing your experiences. I find value in your sharing your journey. Thank you. Would love for you to also share: 1. What was the journey like regarding shifting from being savers to spenders; 2. What all did you experience (e.g. emotionally) from the time you decided to retire to actually feeling settled with being retired and what helped you make the shift; 3. How did you know when to it was "enough with the work" and that it's time to make the change? e.g. Was there a point in time, did something happen, that led to your decision? Thank you for your consideration.
Hi Vinay TFW some great questions we have covered some of them in a video that will be going up in a couple of days , just filmed it today . With this COVID-19 going on it’s even more important to consider future plans, hope you have a good week and great New Year 🎊Cheers 🍷🙂🍺
@@ThisIsOurRetirement Thank you Norm and Tina. I look forward to the video. Here's another one for consideration. In one of the videos, you shared about being terrified (a feeling that I and I am sure many can relate to) wondering if you had saved enough so that you never run out of money. Wondering, what finally gave you the assurance/confidence to "pull the plug" and stop working full-time. (I believe you still have your "side-hustle" of offering stock photography and if I am reading between the lines correctly, this is more of a bonus, and your decision to retire was not based on having it.). If you do decide to do a video on this, which I hope you will, please also consider sharing in it what your actual experience has been, now that you have been retired for 10 years. In other words, what were your fears, and what have you actually experienced? For example, one of my neighbors retired 5 years ago, at the age of 55. Given that the market has done well, he was sharing with me that his net worth today is higher than when retired, even though he hasn't worked for 5 years now. PS. What does TFW mean? Wishing you both a wonderful year ahead and beyond. Stay healthy, stay well. - Vinay
Don't pay bank fees! Just don't do it. If you can't maintain the min balance to get no fee banking, 3 to 5K typically, move your account to an on line bank . And yes dividands are a good alternative to strait deposits. And yes stick to widows and orphans stocks.
What a run these stocks have had over the last few months. Very good advice at the time. Can't say any big lump sum commitment would be wise now. Look for a pullback and as an American there is the 15% Canadian withholding tax😊
For us if we hold US stocks in a retirement savings plan there is no US withholding tax, we are looking for a pull back in April too . We have bought in the past on pullbacks, have a great weekend Cheers 🍺🍷🌺
Very interesting Norm and Tina. I have never invested in dividends, the majority of our investments is in property. Leaving your savings in banks has poor returns. Enjoyed this video. Have a great day 🙏🏽👍🏽🤗🇦🇺
Hi Peter and JoJo TFW we also had property till we sold it in 2015 , investing the Capital in dividend stocks then gives you passive income which is great when you take early retirement we hope you are both staying safe and keeping well have a great week Cheers 🍷😎🍺🌞
Thanks Violet hopefully little tips we have learnt might help others , we are enjoying a heatwave in Canada 🇨🇦 considering it’s November, have a wonderful weekend Cheers Norm and Tina 🍷🌺😎☕️
great enjoyable channel & thank u both.. do u arrange the purchase of these stocks? if so what platform do you use? or do u use a broker to handle it all for you? thanks & kind regards
Thanks for all your great advice! I'm wondering; dividend income you use for living expenses, do you have to report it to the government as income? How do you know how much you can take out before you lose GIS. Are side hustles worth it if that income also has to be reported?
Glad you enjoyed it Deanna , we don’t use dividend income for living expenses and yes you have to report it on your income as we get T5s from them. The government works out if you qualify for GIS from your tax return and even though you have to declare income side hustles are great as you can also claim expenses too. Have a great week Cheers 🍷🙂🌻
Thank you for this great tutorial on dividend investment for retirees. One question. How will the dividend withdrawal be taxed when in retirement? Assume the investments are in an RRSP account. Thank you and best wishes
We hold them in RRSP and TFSA accounts, holding U.S. stocks in an RRSP allows for no U.S. withholding tax where the same stock in a TFSA will have tax deducted from the dividend. Otherwise dividend income is taxed but at a lower rate than earned income. Thanks for a great question and for watching.
@@ThisIsOurRetirement thanks . Good point. Avoid the 15% tax on US stocks. Before retirement plan is to reinvest the divident. Once retired cash the dividend to pay bills. If done that way will the cashed dividend be taxed? Btw. I also hold TD and CU as well as POW in TSX. Thanks
@@fasteddy-fd3kr Yes it will be taxed as income if not drawn from a TFSA account. The tax you pay on dividends is slightly lower than tax on employment income.
Oh wow! sounds like a great deal , the bank 🏦 we are with has a deal if you keep $4000 in an account they will wave the fee so we do that . Hope you are both well have a great weekend Cheers 🍷😎🍺🌺
All major Canadian banks have $0 accounts for seniors as well, some starting as early as 60 years of age. I'm assuming these guys need far more involved features or do a lot of transactions that require a higher tier account. Again though, most all accounts have a minimum deposit that will waive all fees for the account so the idea of needing to invest $50k to cover your fees is a bit misleading. Generally, you can get a top tier account that includes unlimited everything, including free safety deposit box and free premium credit card if you keep a balance of $5k in your account. Along with the major banks, there are a plethora of online banks that offer full services with $0 fees.
TFW we cut cable just have Netflix and Prime as we order a lot from Amazon we get free deliveries.Also cut out the home phone and have a Majic Jack . We also added an indoor swimming pool and keep fit room all included in our rent which is awesome. Hope you have a great week Cheers 🍷🍺😎🌞
Great video! My mom’s expression was “Don’t kill the cow, just keep drinking the milk.” A question if you don’t mind, along the theme of using the dividends to top up your income from government monies from CPP and OAS, how does the dividend income affect those thresholds? Or maybe the question should be how do you keep that dividend income from affecting your ability to qualify for your “poor” status (as you referred to it in a previous video) 🤑😀.
Hi Angie, We hadn’t heard the cow story before, very true! We max out the TFSA and hold dividend stock in that, all dividends paid into it are tax free. We hold U.S. dividend stocks in our RRSP so there is no U.S. withholding tax. We also keep money in growth stocks that don’t pay a dividend but give capital appreciation. A married couple can earn around $37K and not have GIS taken away. Thanks for watching we appreciate it. Also we are cashing parts of our RRSP to make contributions to our TFSA, so paying the lowest tax rate. The side hustles we talk about are self employed so we can have tax deductions from that to lower income levels. 👍👍
@@ThisIsOurRetirement Definitely not a Hologram, the way you look into Norm’s eyes during the broadcast. Don’t run out of material. You would be a great asset to newly weds, never too young planning for retirement. Stay safe, stay well. Carol & Gerry
Thanks it’s definitely hot here 🥵and the A/C is turned off only heat available LOL 😂😂so lots of fans on glad you enjoyed it have a wonderful week Cheers 🍷🙂🍺😎
Thanks for your balanced approach. I think the fear of running out of money and being a burden to family is a big one that keeps our nose to the grindstone longer than needed.
Well said! with all the government money available it’s surprising how much that can add up without touching your capital, hope you are well have a great week Cheers 🍷🌺🍺
I have no fees on my accounts at both Scotiabank and T.D. Seniors account, the fee is charged and then returned at the same time once per month. Mind you they are banks so the day will come when this offer will be withdrawn and they will charge the fees regardless! ☹️ good tips on aristocrat stocks. How do you feel about etf’s ? Bmo looks good. I also have the visa infinite card with no yearly fees (however there usually is)which offers lots of perks such as travel insurance, car rental insurance, cash back on purchases.
We get our bank fees returned each month at BMO by keeping 4K in an account. Canadian banks used to offer seniors free banking, not anymore lol. We think the single best bank stock to buy is CIBC, then RBC and for a gamble and a big dividend Scotiabank. ETF’s are good because they are low cost investments (management fees), and takes a lot of work out of managing your money. The Vanguard ETF’s have quite a reputation as being the most successful and I believe Vanguard invented the ETF product.
This Is Our Retirement yes it’s funny how the banks charge it then refund the monthly fee. I also receive a 1/2 % discount when buying U.S cash due to having a Price Waterhouse account. Not much, actually nothing. But at least it makes you feel slightly better when they gouge you on the exchange rate. Not that we have any use for U.S money with being imprisoned within the Canadian border. 🍻🥂🇨🇦🇺🇸 cheers‼️
@@TripReviews That’s very true the only travelling we are doing is in our own Canadian 🇨🇦 back yard. Having said that compared to lots of places in Europe with pretty tough lockdowns we don’t have it so bad LOL 😂😂Cheers 🍷🍺
I'm a new subscriber and don't know if you've addressed the info that OAS recipient and their spouse can earn up to 5,000 without affecting GIS and ALLOWANCE amounts received
Thanks for the info and welcome to our channel 🌺is that $5000 each a year on top of the personal allowance? We have only just heard about the Allowance, not actually sure what it is 🤔do you have to be married to someone getting OAS to qualify for it . Please let us know if you any more information on it , hope you are keeping well have a great week Cheers 🍷🙂🌺
The GIS is an amount that OAS recipient gets if their income low enough and Allowance is for their spouse , 60 to 64 , if their cumulative net income under amount set by govt . Under govt OAS rules GIS and Allowance recipients are allowed to make net work incomes each of 5000$ without affecting those payments. Be safe !
Thanks for watching we are just sharing our story you should consult a financial advisor with your question , hope you are well have a great week Cheers 🍷😎🍺🙂
TFW Terry yes it’s amazing how the market can bounce back even after going down with COVID-19, that’s why we like the stable bank stocks.Keep busy and well enjoy your weekend Cheers 🍺🍷
One theory I read recently was that while institutional investors are selling some holdings, lockdown 'can't spend' pandemic folks are putting their extra cash into stocks, making the market crazily buoyant. You have to imagine there will be a correction along the way.
Hi Tina and Norm, You mentioned you get about 20,000 in payments a year. Is that with both of you being in the country for 40 years after age 18? Are you getting the max in payments or partial payments? Does this include GIS?
@@ThisIsOurRetirement , Thank you for your reply. I graduated in my 30's and had to go overseas to work for a few year due to graduating when people in my field were being let go. So now I'm looking at less than half of OAS. I'm curious - wouldn't 29 years qualify you for about 72%? Love your channel and plan to go with dividends.
I bought my first Royal Bank of Canada shares in early 2000s. I was getting a 3.8% yield in dividends then on these Royal Bank shares. A 2-for-1 split and a number of dividend increases later, I am now getting the equivalent of 16% yield in dividends annually from my original investment. This is in addition to having collected the dividends all these years. The capital gain has been phenomenal. I can tell the same story for TD Bank and to a somewhat lesser degree the same story for other Canadian banks.
Yes we did too RBC and at the same time bought BMO, both have been wonderful and have grown three fold plus dividends.
The education you give is great. I've seen several investing videos that you've posted. I've begun to understood about investing for the first time. I had fear of doing it wrong or hesitancy because I didn't have that much to invest. Mostly I didn't want to lose my investment. But all of that equals not understanding what to do. Thank you for giving me an understanding of what I can research so I can begin investing.
We are glad that we have helped you a bit so you can do more research Beverly Cheers 🙂🌺🍷💰
What a fantastic eye opener video, I do have money just sitting in a bank savings account barely making anything for years should have invested in dividend earning stocks but when you have no clue and like Tina said being afraid of the stock market you just don’t do anything….Thanks guys appreciate it so much
Thanks for watching we like to have a balance of cash 💰 in high interest savings and the rest invested in dividend stocks Cheers 🍷🌺🍺
Leave a comment telling us what your favourite dividend stocks are 😀😀
Another great video. I agree with your Dividend strategy!!!
I have positions in the following: Utilities (Enbridge, Algonquin), Telco's (BCE, Rogers, AT&T), Banks (TD, BofAmerica), and some Energy plays (Pembina, CNQ, etc).
As you noted, the Energy stocks have suffered, but most are still paying dividend (for now). I got lucky with Pembina (a pipeline). I bought a large position in March 2020, when it was 1/3 it's previous high. It's more than double now, while still paying 7% monthly dividend (at it's current price).
I also have *growth* stocks to enable me to grow my portfolio until I'm ready to retire (MSFT, AAPL, LightSpeed, and ARKK ETF), and some of these also pay a dividend, albeit much smaller (1-2%). Also, while not a Dividend stocks, I have 2% in Bitcoin ETF's (QBTC & HIVE) which have done well since I bought in late 2020. This is more of a gamble, but at only 2% of portfolio, so I'm comfortable with it.
Now I'm shaving some of the profits from top performing (non-dividend) stocks to buy more div paying stocks. The plan is to be able to live off of the div stocks alone (and hold off CPP/OAS as long as possible).
I’ve been binge watching your channel. It wonderful that you guys are letting us learn from you.
I wish I was better prepare than I am now. I just turn 61 in December. I just have $1000 in bank for emergencies. Was planning to retire at 62, decided I need to wait two more years till wife wants to retire.
Just be careful you can’t buy time or health , maybe talk to your wife about her retiring earlier with you 🤔Cheers 🍷🌺🍺
I just retired after a heart attack and I’ve been so worried that I wouldn’t have enough money to get by on. But after watching your videos, I realize I have plenty or at least enough. My Social Security, Pension, stock growth plus some dividends almost covers my expenses. Plus if I take $500-1000 from my portfolio every month, it will take me 30 years to run out of money (assuming no growth from here forward). So I understand now thanks to your various videos and I’m much more relaxed and relieved now. The only thing I can’t foresee is inflation cost increases. Thanks for your insight Norm and Tina.
So sorry to hear about your heart attack, we hope you have recovered well. Thanks for your kind words and for sharing your retirement story, we are happy if we have been able to help you feel more confident about your retirement. We really appreciate your support of our channel, keep well. N&T
One of the companies I was working for decided to close and we had stocks in the company. They told us that we could take our money out and invest it ourselves or leave it there and they would pay us guaranteed 6%. Well back then in the 80’s 6% was lousy but now and the past few years if you got 6% you would be very happy. I left mine in there so I have just over $720 monthly. Not bad. Thanks for the video guys. Cheers!!!
Wow what a great decision you made, yes today 6% is fantastic.
Hey guys…yes the banks are going to be a safer bet. Definitely better than saving accounts. Great vid guys!…Like 80 🙂 Happy to support
TFW yes we love the Canadian banks for a good solid interest rate , hope you are having a great weekend Cheers 🍷🍺😎🌞
This is very good advice. But I have to remember what my financial advisor said, "every situation if different," for the individual participant.
The trick is learning from your mistakes. Best wishes to all!
Yes and we are not financial advisors, best to learn from professionals. Thanks for watching.
Just found your channel. Really enjoying as i will be retiring in 1 year and you have given me lots to think about. So i have been watching quite a few everyday. Keep up the good work
Thanks so much for watching it’s not as scary some people say
We also feel like with our lifestyle we spend a lot less than if we were stationed in one place, so that is helpful as well
We are lucky we have "stuff" from when we were working T.V. etc, we only buy to replace broken items these days. Experiences are so much better than stuff lol.
@@ThisIsOurRetirement agree
8:25 Dividend % usually refers to annual rates. BMO has dividend ETFs, for example ZWB, ZWC, ZWS, ZWE
That’s right all interest and dividends are annual, we are aware of that, dividends for the banks are paid quarterly and we have royalty stocks that pay monthly dividends. Thanks for watching.
I'll add to the ZWC, ZWB, ZWU, it is compounded monthly,
Thanks for watching have a great day 🙂🍷🍺
The best book on this is "Single Best Investment" by Lowell Miller. It explains about finding and tracking the companies that give dividends. Also, the secret is compounding. By starting young, you will end up wealthy. Also Norm, you didn't talk about the difference in taxation between fixed income and dividend income. It can make a big difference. Thanks for your great vlogs.🤙
I have enjoyed your video very much. Specifically the outliving the savings part. Thank you!
Thanks Alain
What a wealth of information. So easy to follow and understand. It was a joy to watch you both. Mike and I hope you are well.
Hi Mike and Theresa glad you enjoyed it , we hope you are both staying safe and well we are great thank you , hope you have this heatwave too 🌞have a great weekend Cheers 🍷🌞🍺😎
Hey Tina and Norm! Love your outfits today both of those colors look so great on you both. That's crazy you are having a heat wave up there, today in LA, it's been rainy and cold, and windy. So we guess we switched weather for the day LOL!! Great video topic today on Dividend Investing.. it was cool to hear about the DRIP as well and about the list of Aristocrat Stocks. Do you guys do all of your own investing and not use an investor? We have an investment that takes care of all of our stuff. Here we have the same thing, you have to pay a fee to have a checking or savings account. Most of them just require you to have a minimum balance of like $1200 for checking and $2500 for savings and you don't have to pay any monthly fees. Butters remembers in Canada paying monthly fees. So annoying. Yes, October was not good for the market, but thank the Universe that November is doing better **Knock on wood** LOL!! We have heard the same thing, that people are always scared of getting into the market, and think that it's risky. But once you're in it for a while, you don't feel that way anymore. It just takes getting used to the highs and lows and riding the waves comfortably. Everyone does worry about running out of money in retirement, and we have heard about that 4% rule in the past that you won't run out if you only take out 4% a year. Love that philosophy... Eat the apples, don't cut the tree down. Living frugally does become a part of your lifestyle and you really don't notice a difference except you have more money than when you were blowing it all on monetary items. LOL!! Great video and love you guys to the mother effin' moon and hope you're having a great weekend!! :)
Hi Bears and Butters we were inspired by your Costco trip so we went and Norm was wearing his new top from there LOL 😂😂we saw lots of Christmas stuff many items like you showed us . My favourite cheese Colliers welsh cheddar 🏴Was on sale and we didn’t know it cause there wasn’t a sign is the best cheese ever it was $7.99 for 400 grams it makes me feel organic LOL 😂
Our bank at Bank of Montreal has an account if you keep $4000 in then you get free banking which we do .
We do our own investment stuff and in your case if you don’t need the dividend income to live on then the DRIP way is a great way to increase your holdings which will increase your income later in life .We are enjoying our heatwave and at the moment are drinking JP Portugal 🇵🇹 red wine Cheers .
Stay safe and well have a great weekend from us both ATB Norm and Tina 🍷🌺🍺😎
I found this honest and want to share
I never believe in forex trading, until I got my profit of $8,020 through forex trading with the help of Mr Nicholas Myron on Instagram @nicholas__fxtrade
Great Video as always, we love watching your content, always filling us with information ℹ️👍🤩 Hope your both keeping safe & well, have a nice weekend & stay safe 🥰🇬🇧🤗xx
TFW glad you enjoyed it, we are well thank you we are able to get out and enjoy unseasonably great weather 🌞How are things in the UK we have heard your lockdown is pretty tough hope you are all well and have a great weekend Cheers 🍷😎🍺🙂
@@ThisIsOurRetirement Yeah we are a few days into Lockdown 2.0, so not much happening here, luckily I’m still working & the kids are still at school, so not that much as changed for us 🤔 enjoy the rest of the weekend 🤗
I have found that if I like a company's products or services, I often like their stock's balance sheet. After doing my own due diligence and personal research.
That sounds like a great way to pick a stock we hope you have a great Easter 🐣 weekend Cheers 🍺🐣🍷🌺
If a company goes bankrupt, stockholders lose everything. Bondholders become the new owners and thus usually get most of their money back either from assets which by definition are sufficient to pay back the creditors - ie a company goes bankrupt just when it looks like they can't pay back absolutely everything. So most of the assets are still there unless it's fraud. But stock price is zero during bk.
Senior bank bonds are actually safer than bank deposits, which is basically the most junior of the debt (cdic insurance has only so many funds)
Another financial crisis and those bank stocks are toast
That’s true but we tend to stay with Blue chip companies like our Canadian Banks that have been around for years , thanks for watching have a great weekend Cheers 🍷🌺🍺
You are being spot-on as always. We love how you put things in simple terms that can really open people's eyes to how it works. $50k just to pay for the bank fee. That was great! We really enjoy these videos. Thank you! ❤️👍👏 Donovan & Jodi
Thank you so much! We enjoy doing these finance videos, it gets us to think more about it lol. 😀😀
Love that comment too about needing the $50,000. But how was that figured out ? 😂❤️
Love this video. I have been investing in high yielding stocks like Utilities and Oils. My Dividends and Interests each year pays for my travels. LOVE IT. Great video. LIKE #82. 👍👍👍👍
That’s a great comment glad it pays 💰 for your travelling so it’s working for you , hope you are well and have a great week Cheers 🍷😎🍺🌞
Agree life is risky by itself, but the stock market can be good when doing it smartly and responsibly
Life really is what you make of it, look at you two on the road!!
Dividend investing all the way. I’m diversified in great American companies. I have two Canadian stocks though one bank RY and owners of Burger King.
That’s great as they say don’t have all your eggs in one basket , have a great week 🙂🍺
And put the Cnd dividends in your TFSA! US in RRSP.
Absolutely great comment 🥂
Because when I put my money into. Bank acct it is federally insured. When I put it into a bank stock it is not insured as well as dividend cuts like we saw with WFC.
In Canada stock broker companies are insured by the government through the Canadian Investor Protection Fund up to $1 million per account. Canadian bank stocks pay between 5% to 7% dividends they have paid dividends every year for more than 100 years. Bank of Montreal has paid dividends since 1829. Yes dividends can be cut but if the main banks do, your deposits would be at risk too. Thanks for your comment have a nice weekend 😀😀
If you invested in the best and biggest bank like JPM you wouldn’t be saying they. Not WFC that’s been in the news for years for corruption. Dividends all the way.
@@billyjohnson9166 Good morning☕️ We are just referring to Canadian Bank stock on the Canadian stock exchange which have been paying dividends for over 100 years. They have never gone bankrupt because of government regulations, hope you have a great day Cheers 🍺🍷🙂
Great video... Love dividends. I only buy stocks that pay dividends. Got really lucky with one and it's up over 230% since early this year. Most are bank and utility stocks though. Best not to micro-manage them and let them grow. Also have a TFSA as well. Cheers guys
TFW absolutely TFSAs and RRSPs both great as well , we like having a balanced portfolio with all of them , hope you are well and have a wonderful weekend Cheers 🍷👍🍺😎
Good advice as always, love how you keep it simple. It doesn’t have to be complicated, and I like that you keep it that way. Enjoy the mini heat wave while it lasts.
TFW glad you enjoyed it we are trying to make it easy for people to understand so they might think of doing some of our ideas. We are loving the heatwave I would love it to last till April LOL 😂😂Have a great weekend Cheers 🍷😎🍺🌺
You need to discuss how CPP will claw back money when one spouse dies, but living expenses are almost the same. I'm a widow and haf to experience this first hand.
Yes after 65 the survivors CPP benefit is only $332.51 from their spouses contributions. It is difficult to cope with the loss of your partner but have less money too.
My bank waives the service charges if I carry a balance and we have a senior’s exemption. This is also because we have our investments with a division of the bank and have a financial planner.
Ours does too but that is $4K not getting any interest, we are shareholders of our bank and get over 5% dividends. We don’t use a financial planner as that reduces the investment returns due to fee’s.
You have a lot of information and aren't afraid to go it on your. That's great. I'm not a risk taker and would leave our money in the bank invested in a GIC. I don't have the knowledge, experience, or strength of character to make investments on my own. I'm happy to learn from your experience.
Thanks for your videos. I'm surprised you didn't mention the tax advantage of Canadian dividends over interest. Assuming 20K income and 20K in either dividends or interest, the difference would be about $4500 less in tax (!)
Yes you are right!
Always learning something new from yinz ty for sharing the great information enjoyed it sledgehammered that like button stay safe awesome and blessed
TFW we are well thank you Go Steelers Go 🏈🏈 glad you enjoyed it hope the family are staying safe and keeping well have an awesome weekend Cheers 🍷🏈🍺😎
@@ThisIsOurRetirement yes indeed GO STEELERS
@@ATJHTRAVELS 🏈👍
Thanks for ALL your videos. It's good to hear your tips
Thanks Mark we appreciate your support.
Another great video Tina and Norm.....I always look forward to your videos. Enjoy this sunny weekend we're having in Ontario. Take care!
Thank you so much glad you like them yes this weather is great 👍 it would be great if it stayed till April LOL 😂hope you are well have a great weekend Cheers 🍷🌞😎🍺
"Eat the apples, don't cut down the tree". I'll have to try and remember that one.
We had fun dreaming that up LOL 😂😂
Good program guys! Really like you all!!
Thank you Bob 🙂🍷🍺
It is crazy when you look at it from that perspective
Sure is
As a senior with BMO, if your account balance is greater than $6000 per month in your primary account they waive your fees and you still get full Air Miles points as well. If you miss a month and end up with less than $6000 in your account they charge the reduced seniors rate of $13.95 for that month. We just went through these changes. Liking your train of thought though.
Yes that’s good we are also with Bank of Montreal , I think it’s actually 4K , but just think of all that interest they get on our money 💰 to save the bank fee 🧐Cheers 🌺🍷
@@ThisIsOurRetirement Who do you use to buy your bank stocks? Surely you would not use regular stock brokers due to fees and costs?
@@klompie780 We use Questrade and Bank of Montreal Investerline Cheers 🍷🌺
@5:13 super good idea and logic is completely agree with that, thanks for sharing those life tricks!
Thanks for watching have a great week Cheers 🍷🐣🍺🌺
Glad you liked it!
Sounds like quality dividend stocks at 5-6% are a great place to invest a lot of the equity of a house sale. Combined with QPP/CPP and OAS it's definitely enough for me, especially where I'll be retiring.
Great plan yes it’s amazing how it all adds up , we think most people don’t really know how much you can receive from the government Cheers 🍺🍷🇨🇦
I literally just started very little in stocks. Been reading up on dividend stocks. Great info!!!
Thanks for watching glad you found it helpful , have a good week Cheers 🍷🙂🍺🌺
Thanks for all your tips. I appreciate and enjoy listening your channel. Thank you!
You are so welcome! Thank you for such a nice comment, have a great weekend.
@@ThisIsOurRetirement Same to you! What lovely weather we are having. We must get out and enjoy it while it’s here before the cold and snow arrives.
@@tinaoswald We went for a lovely walk around our Lake today and tomorrow heading out for the day Cheers 🍷🙂
Great overall information. However in regards to bank fees ensure to present accurate information. TD bank for instance has accounts with fees ranging from $3.95 per month with 10 free transactions to $16.95 per month with unlimited transactions. These fees are waived if you maintain a balance of $3000 and $4000 respectively. However, bank fees are not the reason you should Not keep your life’s savings in the bank (keeping 3 - 6 months of expenses in an account for quick liquidity is wise though). Inflation is higher than the 2-3% we are led to believe so your money in a bank account or under your mattress actually loses purchasing power. So yes, good quality dividend paying Canadian Aristocrats stocks for long term hold is one piece of the retirement planning pie. Love your content. Cheers.
All the banks charge way too much for fees we did generalize and did mention BMO also waves the fee if you hold $4000 in an account , but just think 🤔 about it all these customers holding $4000 in accounts getting no interest giving the banks millions LOL 😂
We also think it’s a good idea to have a “never know what might happen fund “ just like Covid none of us has a crystal ball 🔮 and we don’t know what the future will bring . Glad you enjoy our channel have a great week Cheers 🍷🙂🍺
I had no idea about dividends until just a few years ago, so... I sort of messed up, but, now I have a few and they are fun! Here in America, many will get much poorer when they age, and perhaps not be able to stop working, not getting much from social security or anything else, it is sad.
Thanks for watching Cheers 🍷🍺🌺
What a fantastic vidio. Really enjoyed watching your vidio. Hope you have a great Thursday. Many thanks from Chris 🎈👍
Thanks for the visit have a great weekend Cheers 🍷🍺🙂
Great info well presented. They should have you go into high schools and tells kids about finances. Same rules apply with slightly different goals.
Thanks for watching a great idea 🤔 we have a new video out tomorrow at 11.45 am on retirement hope you have a great weekend Cheers 🍷🙂🍺
thank you very much for all your advices.
Glad you like them! have a great week Cheers 🍷🌺🙂
Great video!
I agree that folks should include dividend stocks in their portfolio. There's a lot of great companies that do pay, along with many that don't pay dividends. Limiting oneself to just 1 type of stock might not be a great idea (mainly the younger crowd), as you want to take advantage of a mix between dividend growth and stock growth.
With capital gains being taxed the most efficiently in canada so far, (there's talk of moving the 50% taxable rate to 75% on capital gains) having a mix even in retirement could be tax beneficial. With the core income being the dividends, any extra income could be taken from non-dividend stocks with good growth that year. The plus side is that if the growth stocks are left alone, those potential taxes keep being deferred until you do sell.
The unfortunate thing about large dividend income is that if you re-invest any surplus for the year back into stocks (even via DRIP), you still pay taxes on those dividends. This could end up being the case as time goes on and the payout becomes larger & larger, since dividend growth % is usually higher than the rate of inflation. The main way around that could be to invest the dividend surplus into an RRSP (if younger than 71) to defer those taxes.
Since dividends are taxed lower than normal income, investing those dividends into an RRSP should actually give a tax refund since RRSP contribution refunds are based on normal income tax rates. The other option I guess could be to just put any extra dividends into the TFSA (if not maxed) and just let that surplus now grow tax free.
It's crazy that the big banks charge folks a fee to have a checking account in today's age unless you have X funds sitting idle or you have multiple products through them. Same goes with these high rewards credit cards. They want anywhere from $40-$700 / year for a credit card, but then charge 20% or more interest rates!
Great comment thank you , yes our bank 🏦 has a program if you have $4000 in an account you get no fees let’s think about that all those customers with accounts is giving Bank of Montreal a huge cash flow having the money sat there no interest 😱 Credit cards with their interest is a whole big problem if you carry a balance, moral of the story pay it off and get no charges , but yes they might charge you just to have the card LOL 😂😂it’s a hard life !
Hope you are staying safe and keeping well have an awesome weekend Cheers 🍷🌞🍺😎
@@ThisIsOurRetirement lol yeah, folks need to make sure they pay off those credit card balances monthly to avoid the high rates. At least some of the banks will waive their yearly credit card fees if you have their checking account also.
Normally I've avoided paying banking fees by using a no-fee bank such as PC Financial, but recently I signed up for a Scotia Infinite cashback Visa card because of the 4% groceries refund. First year fee was free, but card is normally $120 after. I'll probably be moving over to the Scotia ultimate checking package soon, which then waives that card fee.
Similar to BMO for you, I'll need around $5k sitting idle to avoid their checking fee of $31. Ignoring the $31 fee (since my other bank didn't charge one), the $120yr rebate against the $5k capital is essentially a 2.4% tax-free dividend. If you take pre-taxed income into consideration (40% tax rate example), that ends up being a $200yr fee for the card saved (or 4% dividend). The % cashback earned from the credit card itself would then be icing on the cake as I don't think it counts towards yearly income. :)
Have a great weekend as well!
Really informative video. Kind of wish I had had this knowledge years ago. I’m going to forward your video on to a couple of people that I think this would really help. 🙏🥰🏴🍷🍷🍷
Hi Karen glad you found it helpful, we try to just share what we have learnt and keep it simple hope you are coping with your lockdown and brighter days ahead.
We are enjoying a mini heatwave going out for the day today have a great weekend Cheers 🍷🌞🍺😎
Hi, this is exactly what I've been thinking about a lot lately. Totally sensible plan.
Perfect! thanks for watching have a Merry Christmas 🎅 Cheers 🍷🎄🍺
Excellent discussion. Thank you for sharing.
Thanks for watching Cheers 🍷🌺🍺
Check your local credit union for senior account fees .
We are able to get “free” banking by keeping $4K in an account, but you are right credit unions are a good option. Thanks for watching.
Hi, just wanted to know what is (FTS, AND RSI AND RY) not sure what the abbreviations mean. Thank you
They are stock ticker symbols for companies stock on the Toronto stock exchange (TSX)…Fortis, Rogers Sugar and Royal Bank.
@@ThisIsOurRetirement Thank you. Your video are very helpful as we will be retiring in the next few years.
Thanks
Great video guys I love the FIRE movement - fellow UA-camr
Hi Jeremy the FIRE movement is great , we are really glad we took early retirement enjoy your weekend Cheers 🍷🙂🍺😎
I really enjoy your videos. I was wondering what platform you use for dividend investing and do you do it through your TFSAs? You mentioned $20,000 at 5%, is this your total amount for investing or do you invest in other areas as well? I know from previous videos you mentioned maxing out TFSAs and placing cash in a higher interest bank account but do you do anything else for income outside of the "side hustle" and government pensions? I was looking into Questrade and Wealthsimple but was curious as to what you were using and what you thought of it. Keep up the great videos.
We use Questrade and Bank of Montreal Investerline Cheers 🍷🌺🍺
Thank you Tina and Norm. Great info!
TFW glad you enjoyed it hope you are well have a great weekend Cheers 🍷🙂🍺😎
Great guidance as always, my friends 👍. Thanks for sharing and enjoy your day 😀.
TFW glad you enjoyed it hope you are staying safe and keeping well have a great weekend Cheers 🍷🙂🍺🌞
Catching up, we have been off again. Luckily our bank does not charge directly when there is a minimum balance. They obviously make their money from us but not in charges.
Hi Dave thanks for dropping by providing we keep $4000 in an account they charge us then refund the charge LOL 😂😂 glad you are still able to get some travel in as we hear all about Lockdowns over with you . Have a great weekend Cheers 🍷🍺😎🍁
@@ThisIsOurRetirement wales comes out of lock down tomorrow I think, England just went into a lock down. In Scotland no second lock down yet but we reacted quicker than the other countries to an increase in cases. So far those measures seem to be working. We can travel West , North and East but not to the central belt of Scotland so weekends are still able to be out and about. take care and stay safe.
Hello Norm and Tina. Thank you for sharing your experiences. I find value in your sharing your journey. Thank you. Would love for you to also share: 1. What was the journey like regarding shifting from being savers to spenders; 2. What all did you experience (e.g. emotionally) from the time you decided to retire to actually feeling settled with being retired and what helped you make the shift; 3. How did you know when to it was "enough with the work" and that it's time to make the change? e.g. Was there a point in time, did something happen, that led to your decision? Thank you for your consideration.
Hi Vinay TFW some great questions we have covered some of them in a video that will be going up in a couple of days , just filmed it today .
With this COVID-19 going on it’s even more important to consider future plans, hope you have a good week and great New Year 🎊Cheers 🍷🙂🍺
@@ThisIsOurRetirement Thank you Norm and Tina. I look forward to the video. Here's another one for consideration. In one of the videos, you shared about being terrified (a feeling that I and I am sure many can relate to) wondering if you had saved enough so that you never run out of money. Wondering, what finally gave you the assurance/confidence to "pull the plug" and stop working full-time. (I believe you still have your "side-hustle" of offering stock photography and if I am reading between the lines correctly, this is more of a bonus, and your decision to retire was not based on having it.). If you do decide to do a video on this, which I hope you will, please also consider sharing in it what your actual experience has been, now that you have been retired for 10 years. In other words, what were your fears, and what have you actually experienced? For example, one of my neighbors retired 5 years ago, at the age of 55. Given that the market has done well, he was sharing with me that his net worth today is higher than when retired, even though he hasn't worked for 5 years now. PS. What does TFW mean? Wishing you both a wonderful year ahead and beyond. Stay healthy, stay well. - Vinay
Don't pay bank fees! Just don't do it.
If you can't maintain the min balance to get no fee banking, 3 to 5K typically, move your account to an on line bank . And yes dividands are a good alternative to strait deposits. And yes stick to widows and orphans stocks.
Yes we have BMO with a minimum balance to get free banking also we have on line bank accounts too have a great week Cheers 🍺🍷🌺
What a run these stocks have had over the last few months. Very good advice at the time. Can't say any big lump sum commitment would be wise now. Look for a pullback and as an American there is the 15% Canadian withholding tax😊
For us if we hold US stocks in a retirement savings plan there is no US withholding tax, we are looking for a pull back in April too . We have bought in the past on pullbacks, have a great weekend Cheers 🍺🍷🌺
Very interesting Norm and Tina. I have never invested in dividends, the majority of our investments is in property. Leaving your savings in banks has poor returns. Enjoyed this video. Have a great day 🙏🏽👍🏽🤗🇦🇺
Hi Peter and JoJo TFW we also had property till we sold it in 2015 , investing the Capital in dividend stocks then gives you passive income which is great when you take early retirement we hope you are both staying safe and keeping well have a great week Cheers 🍷😎🍺🌞
Awesome information as always my friends. Your tips are always showing us new ways to better invest. Brilliant.
Thanks Violet hopefully little tips we have learnt might help others , we are enjoying a heatwave in Canada 🇨🇦 considering it’s November, have a wonderful weekend Cheers Norm and Tina 🍷🌺😎☕️
great enjoyable channel & thank u both.. do u arrange the purchase of these stocks? if so what platform do you use? or do u use a broker to handle it all for you? thanks & kind regards
Hi Glenn, we just chose a low cost broker in our country and looked for reviews that were positive.
@@ThisIsOurRetirement thank u & also for the really quick reply too ..take care 🙂
Thanks for all your great advice! I'm wondering; dividend income you use for living expenses, do you have to report it to the government as income? How do you know how much you can take out before you lose GIS. Are side hustles worth it if that income also has to be reported?
Glad you enjoyed it Deanna , we don’t use dividend income for living expenses and yes you have to report it on your income as we get T5s from them. The government works out if you qualify for GIS from your tax return and even though you have to declare income side hustles are great as you can also claim expenses too. Have a great week Cheers 🍷🙂🌻
Thank you for this great tutorial on dividend investment for retirees.
One question.
How will the dividend withdrawal be taxed when in retirement?
Assume the investments are in an RRSP account.
Thank you and best wishes
We hold them in RRSP and TFSA accounts, holding U.S. stocks in an RRSP allows for no U.S. withholding tax where the same stock in a TFSA will have tax deducted from the dividend. Otherwise dividend income is taxed but at a lower rate than earned income. Thanks for a great question and for watching.
@@ThisIsOurRetirement thanks . Good point. Avoid the 15% tax on US stocks.
Before retirement plan is to reinvest the divident.
Once retired cash the dividend to pay bills.
If done that way will the cashed dividend be taxed?
Btw.
I also hold TD and CU as well as POW in TSX.
Thanks
@@fasteddy-fd3kr Yes it will be taxed as income if not drawn from a TFSA account. The tax you pay on dividends is slightly lower than tax on employment income.
@@ThisIsOurRetirement thank you.
Best wishes
@@fasteddy-fd3kr Your welcome!
Wow! Bank fees sound crazy in Canada! We have 0 fees for seniors in USA!
Oh wow! sounds like a great deal , the bank 🏦 we are with has a deal if you keep $4000 in an account they will wave the fee so we do that . Hope you are both well have a great weekend Cheers 🍷😎🍺🌺
Canadian vanks are hugely profitable and don't go through the instability that American banks do.
All major Canadian banks have $0 accounts for seniors as well, some starting as early as 60 years of age. I'm assuming these guys need far more involved features or do a lot of transactions that require a higher tier account. Again though, most all accounts have a minimum deposit that will waive all fees for the account so the idea of needing to invest $50k to cover your fees is a bit misleading. Generally, you can get a top tier account that includes unlimited everything, including free safety deposit box and free premium credit card if you keep a balance of $5k in your account. Along with the major banks, there are a plethora of online banks that offer full services with $0 fees.
Would love to know are there things you simply cut from your life when you Fired?
TFW we cut cable just have Netflix and Prime as we order a lot from Amazon we get free deliveries.Also cut out the home phone and have a Majic Jack .
We also added an indoor swimming pool and keep fit room all included in our rent which is awesome.
Hope you have a great week Cheers 🍷🍺😎🌞
Great video! My mom’s expression was “Don’t kill the cow, just keep drinking the milk.” A question if you don’t mind, along the theme of using the dividends to top up your income from government monies from CPP and OAS, how does the dividend income affect those thresholds? Or maybe the question should be how do you keep that dividend income from affecting your ability to qualify for your “poor” status (as you referred to it in a previous video) 🤑😀.
Hi Angie, We hadn’t heard the cow story before, very true! We max out the TFSA and hold dividend stock in that, all dividends paid into it are tax free. We hold U.S. dividend stocks in our RRSP so there is no U.S. withholding tax. We also keep money in growth stocks that don’t pay a dividend but give capital appreciation. A married couple can earn around $37K and not have GIS taken away. Thanks for watching we appreciate it. Also we are cashing parts of our RRSP to make contributions to our TFSA, so paying the lowest tax rate. The side hustles we talk about are self employed so we can have tax deductions from that to lower income levels. 👍👍
Have loved all your videos. How about telling us about yourselves, what you did before retirement, etc. got to know you are real. Carol & Gerry
No we are just holograms programmed by computers 😂😂
We were both sales reps, Norm self employed freelance agent, Tina a computer supplies distributor.
@@ThisIsOurRetirement Definitely not a Hologram, the way you look into Norm’s eyes during the broadcast. Don’t run out of material. You would be a great asset to newly weds, never too young planning for retirement. Stay safe, stay well. Carol & Gerry
Heat wave in Canada? Great content, thanks for sharing tips on dividend investing. Like your work.
Thanks it’s definitely hot here 🥵and the A/C is turned off only heat available LOL 😂😂so lots of fans on glad you enjoyed it have a wonderful week Cheers 🍷🙂🍺😎
Wow this is exactly what I was looking for .. I can see that soon u will have 1 million subs and it income from UA-cam will b more than dividends
That would be nice 😂we are busy working on it Cheers 🙂🍷🍺
Thank you for your sharing!
What percentage of your dividend stocks are held in your RRSP? And how much in your TFSA?
We have done a video on what we did with the money we hold US dividends in the RRSP and Canadian dividends in the TFSA Cheers 🌺
great advice and information thanks so much for sharing take care
Thanks for watching hope you are well have a great week Cheers 🍷😎🍺🙂
Dividends are great because they over returns without taking your stocks out
Hi Matt yes we like dividends as they keep topping up the bucket with interest , hope you are well have a great week Cheers 🍷🌞🍺😎
Norm and TIna, do you invest in ETFs? If not, why not?
We don’t no need to pay management fees
Money in banks : u must be mad ! (LOL ! !) - - - under the mattress, it must be ... hehe.
No gold bars under the mattress 😂😂
I use my dividends to buy my annual TFSA contribution and don’t forget the Federal and Provincial dividend tax credits for your income tax reduction
Thank you so much for always giving us ideas 🤓
Hi TFW glad you enjoyed it we hope that sharing our tips might help others , hope you are having an awesome weekend Cheers 🍷🌞🍺😎
Wow heatwave in November? Crazy world we live in
Yes, love the videos you make about passive income
Yes we have had 5 warm days in a row, high today Sunday is 21°C 69°F just a week ago we had snow!!
@@ThisIsOurRetirement wow
@@mariaandbryan Good morning ☕️today is going to be gorgeous too 🌞
The theory is simple. If you can't beat'em, own'em.
Yep!
Interest rates are in a all time low where I am too!! Great points you make and bring up!! Love the content!! Subscribing for more!!🙌
Thanks for watching and welcome to our channel hope things get better for you stay safe keep well have a great week Cheers 🍷😎🍺🌞
My service charges get waved if i maintain a 3000.00 balance with my bank.
Same with us
Wonderful couple wish you all the best and ✌️ from Dubai
Thank you! You too! have a great weekend Cheers 🍷😎🍺🙂
Thanks for your balanced approach. I think the fear of running out of money and being a burden to family is a big one that keeps our nose to the grindstone longer than needed.
Well said! with all the government money available it’s surprising how much that can add up without touching your capital, hope you are well have a great week Cheers 🍷🌺🍺
I have no fees on my accounts at both Scotiabank and T.D. Seniors account, the fee is charged and then returned at the same time once per month. Mind you they are banks so the day will come when this offer will be withdrawn and they will charge the fees regardless! ☹️ good tips on aristocrat stocks. How do you feel about etf’s ? Bmo looks good. I also have the visa infinite card with no yearly fees (however there usually is)which offers lots of perks such as travel insurance, car rental insurance, cash back on purchases.
We get our bank fees returned each month at BMO by keeping 4K in an account. Canadian banks used to offer seniors free banking, not anymore lol. We think the single best bank stock to buy is CIBC, then RBC and for a gamble and a big dividend Scotiabank.
ETF’s are good because they are low cost investments (management fees), and takes a lot of work out of managing your money. The Vanguard ETF’s have quite a reputation as being the most successful and I believe Vanguard invented the ETF product.
This Is Our Retirement yes it’s funny how the banks charge it then refund the monthly fee. I also receive a 1/2 % discount when buying U.S cash due to having a Price Waterhouse account. Not much, actually nothing. But at least it makes you feel slightly better when they gouge you on the exchange rate. Not that we have any use for U.S money with being imprisoned within the Canadian border. 🍻🥂🇨🇦🇺🇸 cheers‼️
@@TripReviews That’s very true the only travelling we are doing is in our own Canadian 🇨🇦 back yard. Having said that compared to lots of places in Europe with pretty tough lockdowns we don’t have it so bad LOL 😂😂Cheers 🍷🍺
Change your banking to online banking . no fees
What about ETFs? Theres ETFs that are all canadian banks , do you invest on those?
No we don’t need to pay management fees
I'm a new subscriber and don't know if you've addressed the info that OAS recipient and their spouse can earn up to 5,000 without affecting GIS and ALLOWANCE amounts received
Thanks for the info and welcome to our channel 🌺is that $5000 each a year on top of the personal allowance? We have only just heard about the Allowance, not actually sure what it is 🤔do you have to be married to someone getting OAS to qualify for it . Please let us know if you any more information on it , hope you are keeping well have a great week Cheers 🍷🙂🌺
The GIS is an amount that OAS recipient gets if their income low enough and Allowance is for their spouse , 60 to 64 , if their cumulative net income under amount set by govt . Under govt OAS rules GIS and Allowance recipients are allowed to make net work incomes each of 5000$ without affecting those payments. Be safe !
If the stock is worth $100 and the dividend yield is 3% would the pay out be $3 per share?
Yes
Hello there;
In all honesty what is a better choice if you have $100.000 dollars to invest...dividend stocks or property?
Thank you!
Thanks for watching we are just sharing our story you should consult a financial advisor with your question , hope you are well have a great week Cheers 🍷😎🍺🙂
Very good advice my friends ...I am surprised how well the Stock market is holding up..
TFW Terry yes it’s amazing how the market can bounce back even after going down with COVID-19, that’s why we like the stable bank stocks.Keep busy and well enjoy your weekend Cheers 🍺🍷
One theory I read recently was that while institutional investors are selling some holdings, lockdown 'can't spend' pandemic folks are putting their extra cash into stocks, making the market crazily buoyant. You have to imagine there will be a correction along the way.
Hi Tina and Norm, You mentioned you get about 20,000 in payments a year. Is that with both of you being in the country for 40 years after age 18? Are you getting the max in payments or partial payments? Does this include GIS?
We have been here 29 years and get half CPP and OAS and yes the numbers are joint, Tina doesn’t get OAS yet too young.
@@ThisIsOurRetirement , Thank you for your reply. I graduated in my 30's and had to go overseas to work for a few year due to graduating when people in my field were being let go. So now I'm looking at less than half of OAS. I'm curious - wouldn't 29 years qualify you for about 72%? Love your channel and plan to go with dividends.
Maybe you can make a video about your stock holdings...
Thanks for the idea 💡 we hope you are keeping well and have a great week Cheers 🍷🍺
Excellent info, thx!
Glad it was helpful! 🌺
Do you do a mix of dividend and growth or live off dividend income only?
The dividend stocks over the last few years have acted like growth stocks Have a great week Cheers 🍷🌺🍺
great share, very helpful, like
TFW glad you enjoyed it hope you are well have a great weekend Cheers 🍷🌞😎🍺
You too stay safe !
Both of you stay safe too, great to hear from you.
Dividend invest is one of the best passive incomes! You have to do nothing for the money! Earn while you sleep!
Thanks for watching we think it’s great Cheers 👍🍺😎