My investments closed slightly lower today, but it was not too significant. The TSX closed in positive territory, remaining at 20,700 points. My non-registered portfolio closed today's session at $149,000.53, my US portfolio at $5,080.08 US, my RRSP stocks-only portfolio at $65,457.75, and my TFSA portfolio at $128,432.29. Yesterday, I noticed that my non-registered portfolio was about to reach $150,000, so I immediately updated my investment portfolio. As a result, I discovered that my net worth had reached $366,000. It felt like receiving a small gift just before Valentine's Day.
One of the things I enjoy most about updating my investment portfolio on good days is that it enables me to determine whether or not I have exceeded my highest net worth. I keep a record of my investment portfolios and net worth for my personal satisfaction. If, for any reason, the stock market takes a bad turn and experiences a significant decline, which can happen at any time, I will always have my highest net worth recorded somewhere as a reference. It will act like a little souvenir from my hottest point. I always hope for the best, but if I have to endure a period of loss, which has occurred to me before, I will always have that highest net worth to refer to. The logic behind this is that if I have been there once, I can make my way back there, even if it takes some time. It's always the same pattern: at some point, the stock market declines, and when it does, I just need to hold on to what I have. If anything, I can invest in stocks when prices are low.
To add to the fun, many of the stocks I currently hold have recently announced dividend increases. Today, both TC Energy Corporation (TRP) and Toromont Industries Ltd (TIH) announced that they were increasing their dividend distributions. It is now official that the dividend income generated from my non-registered and TFSA portfolios amounts to the equivalent of $850 per month, plus a few pennies. This is enough to cover my rent in Montreal, as well as my cell phone and internet bills.
Overall, my annual dividend income, including the dividends earned inside my RRSP, is getting closer to $12,200. If I can earn $12,000 annually from both my non-registered and TFSA portfolios, that would be great.
However, I am not in a rush to see that happen. Recently, I have been considering the Hamilton Enhanced U.S. Covered Call ETF (HYLD). Its yield of 14.25% is extremely tempting. I enjoy creating financial scenarios, and my dividend income is no exception. For example, if I invested $5,000 in HYLD, I would earn $57 per month, increasing my non-registered and TFSA dividend income to over $900 per month. Who wouldn't be tempted by that?
When it comes to HYLD, my heart says yes, but my head says no. A dividend yield of 14.25% does not make sense, and it is not sustainable. No high-quality stock can reasonably pay such a high dividend yield. Therefore, I have decided to stay away, and I can control myself, believe it or not. While investing, dividends should never be your number one focus. Many super high-quality stocks pay a low dividend distribution. It's way better to build your dividend income slowly rather than throwing your money in an ETF that doesn't make any sense. HYLD doesn't make sense to me.
Lately, I discovered a stock that I haven't noticed before and that I actually never heard of: AG Growth International Inc. (AFN). It's the second-largest position in the JFT Strategies Fund Class A Units (JFS.UN). Why did I never notice it before? I don't know. I may have come across this stock while I was a user of Stockopedia, but I may have quickly passed it by due to its volatile chart. While browsing for stocks on Stockopedia, I used to check everything, but I selected my stocks based on the overall chart of each potential investment.
Currently, I have a couple of hundred dollars available in my RRSP to invest, which is why I have been actively searching for a new investment. I have to admit, without my Stockopedia subscription, I feel a bit lost. Ideas for investments are taking more time to come by, and it's extremely annoying. It's times like these that I really miss Stockopedia.
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