Invest in the best companies in North America
Warren Buffett once said that what takes a lifetime to build takes 5 minutes to ruin… but learn to invest like him and you might as well avoid this path. Some people think that to be a good trader you have to buy and sell at a frenetic pace every day. those people are what I like to call – evil. The best investors not only in North America but around the world know that the long term is the theme of success.
The first thing you do when you want to invest is find a company that you know and understand. If you generally can’t explain the use and purpose of a company’s products, it’s probably a company that won’t last. You brush your teeth, invest in Colgate Palmolive. Use everyday health and cosmetic products: invest in Johnson and Johnson. You drink a cold soda: invest in that brand of drink. The companies I just mentioned need no introduction, but when I mention Canadian companies I will give a general history.
The advantage of stocks is not only that since it is a well established company it will grow, but that stocks pay dividends unlike savings accounts and casino gambling. Look at a company’s dividend history just before you buy shares. The largest banks in North America typically pay dividends over several decades while steadily increasing yield. Now here is the most important point: always sign up for DRIP. DRIPs mean that your dividends are reinvested. A 20-year-old who makes a $5,000 stock purchase will earn $600,000 more at retirement—do the math.
Since Canadian companies have not been mentioned here, there are three Canadian stocks that should be in your portfolio.
SNB.a
The Bank of Nova Scotia serves more than 21 million customers in more than 50 countries worldwide and has a wide range of products and services including normal, commercial, commercial and commercial. The rise in consumer lending was fueled by Scotiabank’s $3 billion acquisition of ING Direct Canada earlier this year, which boosted lending and added about 2 million customers.
RY.to
Royal Bank of Canada began in the 1860s in East Halifax. It is the largest financial institution in Canada. RBC is known as the largest Canadian company by sales by a major newspaper and was named a top contender in Forbes magazine. They have steadily increased their dividend over the last century.
ENB.to
Enbridge has the largest oil pipeline system in the world, which is located in the countries of North America. Enbridge’s solar energy efforts are the largest and most competitive in the wind energy market. Renewable energy production is constantly growing for enbridge.