Time to get your collective brooms out and sweep out your investments.
As a start of year/end of year task I went through my many investment accounts (boy I really do have a lot of those, holy cow), I noticed that I had a lot of investment vehicles that I should really just eject from my portfolio. Why was I keeping them around? Some of the odd reasons I think were in my mind were:
- They might actually rebound sorry Charlie, that boat has sailed for these stale leftover investments (some from the tech boom), so that is not a good reason.
- They seem to be paying OK dividends might not be a bad reason, but then again, if I looked at the MER on these Mutual funds, I was paying other people a lot of money to get these dividends.
- I’m a lazy sod who just won’t admit when he is wrong I believe we have a winner!
What were the nature of this financial clutter?
- Two AGF Mutual funds that plodded along but had absurd MERs on them
- Some left over Cisco stock that used to pay out, but still has not got back to where I bought it some 10 years ago
- A crappy TD bond mutual fund that was useless as well
Took all the proceeds from those sales and bought a Dividend ETF, unfortunately the losses cannot be taken advantage of, since they were in an RRSP. Should I be buying Dividend devices in an RRSP? Some say no, I like dividends, so that is what I did.