A few days after making my in-kind withdrawal from my imaginary retirement portfolio, I had transferred some shares of Canadian Utilities from the imaginary RRIF to the imaginary TFSA. Holding only one stock, the CU shares, in my TFSA made me uncomfortable. There were a couple of stocks I wanted to hold and so today I diversified.
The TFSA now holds 309 shares of Canadian Utilities (CU), 820 shares of Telus (T) and 160 shares of TD Bank (TD). A further perk is that the value of the TFSA has increased by about $400. I will keep you posted as to changes at the first of each month.
Telus is a five-star stock by Morningstar's calculation. I will sell the Telus when the price rises. Remember, I also hold Telus in the RRIF account. I see holding Telus as a winning move. It pays a good dividend while one waits for the capital gain.
Buying the TD today will capture the quarterly dividend. Nice. And the TD stock should climb in the coming months and climb more than the CU stock I was holding. Eventually I may actually gravitate back to holding more CU. Remember, I am treating my RRIF and my TFSA as essentially one large portfolio. I do not want to be underweight in my CU holdings indefinitely.
Just to keep everyone up-to-date, the RRIF plus the TFSA is worth $1,055, 642.30 as of market close today. Not bad for a portfoliio opened with one million dollars in June. That means it is only seven months ago.
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