A $5,000 Investment Strategy to Supplement Your Pension
Written by Andrew Walker at The Motley Fool Canada
Canadian savers are searching for the best strategy to build a self-directed Tax-Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP) portfolio that can provide extra retirement income along with earnings from government and work pensions.
One popular investing approach involves buying top TSX dividend stocks and using the distributions to acquire additional shares. This can often be done automatically through a company’s dividend-reinvestment plan (DRIP) and is normally easy to set up with your online investing broker.
Some firms provide investors with a discount on the share price as an incentive to use the dividends…
