Last week, I discussed the difference between a retirement
portfolio and a retiree’s portfolio. There is a big difference between
investing for the future and withdrawing from this investment to live. I put my
portfolio on fast forward and took a look at trades I would do to make the
switch toward a retire-ready portfolio. I was quite surprised to see how
different both portfolios were.
The point is that you must think about withdrawing money
once you retire. Therefore, you need cash ready to be withdrawn, and you need a
strong portfolio paying a healthy dividend to support your lifestyle as much as
possible. In a perfect world, we would all live off our dividend and give this
well-built nest egg to our children. But the reality is otherwise.
To conclude this reflection on portfolio management, I’ve
done some research and handpicked my top 10 Canadian dividend stocks for
retirees. I could have selected the 6 big banks, 3 telecoms, and 1 energy
stock, and I would have been done within seconds. I’m actually starting with 2
banks and 2 telecoms, but I tried my best to build a solid portfolio with more
options.
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