Plunged More Cash Into My DRiPs Today, Made it to #83 in Wisebread’s Rankings

Sending off some smallish-sized cheques for Emera (EMA), Bank of Montreal (BMO), Imperial Oil (IMO), CIBC (CM) and Bell Aliant (BA.UN).

My new DRIPPING goals:

• make at least 10 optional cash investments before putting them back into my online broker, in order to maximize the leverage I can on no-fee investments.
• make at least one investment per year in each DRIP
• get two DRIPS buying shares on their own per investment session this year
• get one DRIP dividend up to $2000 to cover mortgage payment (this is a more long-term goal)

I’m also starting to get a little suspicious of Enervest Diversified Income Trust (EIT.UN).  I’m not sure they can even maintain their current distributions, after the cut, with the kind of unit price they have right now.  I’m thinking I should withdraw it from the DRIP and put it in my broker in order to just receive the distributions in cash.  That way I can re-divert them into the DRIPs I know are doing well.  It would provide one extra layer of diversification.

I also need to learn more about how to buy corporate debt – individual issues, not mutual funds.  For now I think I might just get into something like XCB (ishares) and see how that performs.  I need to also diversify across the balance sheet, not just across sectors and time.

So the next two investments on my horizon are to get some preferreds and to buy some corporate debt.

NB: On a different note, I just want to put in a small plug for my blog, which has made it to number 83 in Wisebread’s amazing compilation ranking of the Top 100 Personal Finance Blogs (it actually counts up to 200).  It’s the ultimate blogroll.

• Reasons You Should Get Started Investing While Still A Graduate Student
• Investing in Canada's Real Estate Market
• How To Get Started in Commission-Free, Fee-Free Investing
• Deciding Whether You Should Invest In Suncor (SU) or Canadian Oil Sands (COS.UN)
• Stocks in the Stockings, Please!

• Should Stocks Be in Your Retirement Plan?
• Commercial Real Estate Q&A #3: Running from Hotels and Successful Commercial Real Estate Investing Strategies
• Are Stocks A Better Investment Than Real Estate?
• Bull and Bear Markets Consistently Appear in 16 Year Supercycle Intervals
• The Bigger The Property, The Easier It Is To Get The Money!

Tagged as: debt, diversification, DRIPs, portfolio, preferreds, strategy