Wealthsimple Synced!📈 Building My Dividend Machine
Finally got my Wealthsimple account fully connected and tracking live feels good to see everything in one place! Here’s what my strategy looks like: • 65% in high-income ETFs & covered call funds • 35% in growth and upside plays Around 360K/ 250K currently (not all at WS) cant link my other brokerage yet! Main Goal: Grow my dividends as fast as possible and reach $500,000 in annual dividend income within 2 years. I’m currently at ~$235K/year in projected dividends, and I’m all in on reinvesting every cent to keep compounding. Current portfolio breakdown includes: • $ULTY (YieldMax Ultra Option Income) • $MSTY (YieldMax MSTR Option Income) • $MSTE (Harvest MicroSectors) • $HHIS.TO (Hamilton High Income) • $BANK.TO (Hamilton Canadian Bank Covered Call) Why this mix? • Income side delivers consistent cash flow and fuels the dividend engine. • Growth side is for long-term upside and capital appreciation. I’m making monthly deposits, holding for the long term, and focusing on total return not just chasing yield for yield’s sake. The compounding effect is real, and the journey to $500K/year is just getting started. let’s see how fast the snowball can roll! 💸🔥
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64 Comments
Catherine
@ffcatherine · 1yrEdited
I’m a hybrid investor & combining pure total return (low fee index growth ) with income to support my needs in retirement (using higher fee covered call funds) Although it’s impressive to earn huge income from covered call funds what I don’t understand is why have more than 2X your monthly needs in cashflow? I’m not there yet but I want to build up to 2X my need in cashflow & that’s it (then keep focused on growth) .. this way if we get large dips I can still pay my bills But why aim for $500,000/ yr income if you don’t need thst much? Since these funds do have a higher management fee & growth is capped even with leverage (leverage helps but you are paying for that via fees) I’m open & curious to the thought process as I try to navigate self portfolio management in retirement:) I re read your post is it you want to use the extra cashflow to reinvest into the growth portion to get to your goal faster?
Andréanne Villeneuve-Dubuc
@ddanne03 · 1yr
Way to go. Keep us updated about the dividends please!
Investing Young Dot Ca@investingyoung · 1yr
if your average dividend yield is 10% you need $5m invested to make $500k a year dividend , so your portfolio value around $5m?
P
@p0333 · 1yrEdited
@academiefinevo WOW, what an inspiration. Great work! To understand, your projected dividend is $235K at $360K portfolio? How much is the split in TFSA, RRSP and non-reg? If you don’t mind sharing :)
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