Bought some dividend paying stocks for the TFSA over the past few years. Recently decided to get more involved in understanding the process since I don't know much about it.
The plan right now is to diversify over equity sectors that offset each other. Save incoming dividends in a bond fund until there's enough to purchase another new stock, and dollar cost average our monthly contribution to three individual stocks to build them up. These are all long term hold stocks, no plans to move money around here. Doing all of this with advice from our guy at Edward Jones.
Issues I'm having is really getting in and tracking holdings myself, especially when there is a purchase once a month. At this point I'll take the Excel dump of activity on the account and build a spreadsheet around it, but I'm wondering what anyone else uses to track things like growth from dividend payments and stock value over time.
Wealthica is one I'm trying since they tie into the Edward Jones portal, but there's some technical issues preventing them from getting our data...so who knows until tech support gets back to me.
Also wondering what other strategies people are using.
Apologies if there's another thread about this here, I did a search and didn't find anything specific about investing in these sorts of stocks.