A stock that doesn't belong in my valuable investment portfolio: Manulife Financial Corporation (MFC)

These days, it seems like 20,700 points have become the new norm for the stock market. My non-registered portfolio closed at $148,626.46, my US portfolio at $5,063.14, my RRSP stocks-only portfolio at $65,866.07, and my TFSA portfolio at $128,991.04. Overall, my portfolio value remains strong. I would like to see my non-registered portfolio reach a value of $150,000.

I am slowly preparing to file my income taxes for 2022. I am currently waiting for my tax documents to arrive from National Bank Direct Brokerage, which I should receive on February 22. I find this to be a bit late. Accounting firms have a very short period of time to process our tax documents, and brokers can be slow in providing dividend papers and other necessary documents. It would be better if brokers could provide all the required documents in January, which would give everyone more time to prepare their tax reports.

It's quite frustrating because even on February 22, National Bank Direct Brokerage won't have provided all the documents that I need. One important document that I need to include in my tax report will only be available in March! I will be missing one document, but it only amounts to $50, and I didn't include it in last year's tax return. I will likely do the same thing this year. It's not that I want to do things the wrong way, but I need to send my documents early to the accounting firm that I usually work with. Since the amount is only $50, it doesn't bother me much in that sense.

 

Once my taxes are done, I am expecting to receive $1,000 back, since I contributed almost $7,000 to my RRSP for 2022. That $1,000 will be added to my savings. Speaking of savings, I recalculated everything and I should be able to reach $20,000 in savings by the end of April instead of the end of May. By April, I should be able to exceed the $20,000 goal by close to $400. March and April are going to be a bit rough. Some people are quite good at not spending much on groceries, coffees, etc. I consider myself good, but I am certainly not as good as @kyleliu_invest in that matter. I mean, one meal a day?! Go check it out. But before anything, you need to follow me on Twitter, @SunnyJNB

Yesterday, Nutrien Ltd. (NTR) announced an increase in its dividend. My annual dividend income, including all portfolios, is now close to $12,190. The annual dividend income from my non-registered and TFSA accounts officially exceeds $850 per month by a few dollars. This $850+ amount represents a significant sum of money for me, as it covers my monthly Montreal rent (currently $730), my cell phone bill ($29), my internet bill ($80), and approximately three espressos per month. With my dividend income growing, I am thrilled with its direction and the financial benefits it provides.

These days, many businesses located in both Canada and the US are raising their dividends, and it's making their investors very happy. Today, a stock that I don't hold, Manulife Financial Corporation (MFC), also announced an increase in its dividend distribution. I am not a fan of insurance companies and I am not willing to invest in any of them. In the case of Manulife Financial Corporation (MFC), if you take a look at its overall chart, MFC has never been able to recover from the 2008 stock market crash. This is my main reason for not investing in this stock. A stock that has not been able to recover from a crash that occurred 15 years ago does not belong in my portfolio. I know next to nothing in terms of finance, but I do know how to read a chart. Investing, in its essence, is not more complicated than that.

I doubt we'll be dealing with a recession anytime soon. Too many jobs have been created in Canada and the US, and too many businesses have increased their dividends and beaten their estimates. On Valentine's Day, I wrote about a stock that I found among the top holdings of the JFT Strategies Fund: AG Growth International Inc. (AFN).

A reader asked for my opinion on AG Growth International Inc. (AFN), and I'm happy to oblige! Regarding AFN, I feel like I may have missed the boat as its current share value is at an all-time high, making it expensive to buy now. While AFN's chart looks promising, it's not as impressive as that of Toromont Industries Ltd (TIH), which has a super chart. Additionally, AFN is a volatile stock on the TSX, and its chart is not as smooth as some others. It reminds me of a stock I've held for a long time in my TFSA portfolio, ATCO Ltd. (ACO.Y).

This is the overall chart of ACO.Y:

In my opinion, the chart for ACO.Y looks somewhat similar. It has had some fluctuations, but overall, it has been trending upward rather than downward, which is the most important thing. I like AG Growth International Inc. (AFN) because it operates in the agriculture sector. Although its dividend of 1.098% is low, we can still say that it pays a more than reasonable dividend. Currently, I have several hundred dollars in cash in my RRSP portfolio, and I'm not closing the door to a small investment in AFN.