July 2025 Dividend Income Update
Hi Everyone,
Welcome to our latest update: our July 2025 dividend income update.
A reminder for anyone new to the site, this is a standing monthly series related to our hybrid investing approach for semi-retirement funding that I started some 15+ years ago.
We invest this way:
- We invest in Canadian and a few remaining U.S. dividend paying stocks – about 25-30 stocks that collectively deliver income and growth over time…and
- We invest in some low-cost equity ETFs – that deliver long-term growth for extra diversifcation.
I wrote a more detailed post about what we own and why here – a pillar post I keep updated every year as things change/evolve.
July 2025 Dividend Income Update
Picking up from last month, thanks very, very much for your emails and wishes about my father. He is stable and as a family we’re here to support him and have been doing so.
Health is wealth.
On the investing front, also last month, I reminded all readers that my wife and I have sold off almost every U.S. stock we used to own in recent years. We’re down to a couple of U.S. stocks now for simplicity, one of them being Waste Management (WM) current to the time of this post which is very likely to be sold soon…
The reason I bring up this stock is because of this reader question of late:
Mark, I enjoy your dividend income updates. I am curious how many high-yield stocks or ETFs you own to “juice” your dividend income and related updates? Thanks!
Well, thanks for your question and readership!
Waste Management (WM) is just one example of many in my portfolio whereby I’m hardly chasing yield. I own other stocks for defensive or growth reasons:
- Brookfield (BN)
- Tourmaline (TOU)
- And more!
Again, dividends and distributions (I feel) are two-sides of the same investing coin – you can’t have lots of each.
A good reference I like to use from HonestMath from time to time:
For almost two decades now, I like and have benefited from my mix of income and growth across our portfolio:
- there are higher-yielding stocks and stocks that pay modest yields in the range of 3-5%,
- there are lower-yielding growth stocks that barely pay dividends at all, and as readers will know well,
- there are low-cost diversified, boring ETFs that barely pay us any distributions too.
We would certainly have MORE income to report each month if I changed my investing approach but it has been successful to date.
Why fix what is not broken?
July 2025 Dividend Income Update
I have no idea what the future holds.
I do know stocks that we own will go up and they will go down.
That said…you add it all up, by staying invested from a few key accounts, along with a few strategic purchases made now and then…the journey looks like this over time:
At the time of this post:
- I continue to keep HEQT DRIPping inside my small LIRA – it’s boring and it works for me (for growth) until I tap that LIRA to LIF income in a few years for retirement living expenses.
- Inside our RRSPs, all DRIP taps are turned “off” to let cash build up for future withdrawals. We are out of RRSP contribution room.
- Inside our non-registered accounts, we also let dividends accumulate as cash for the odd strategic purchase during the year while simultaneously slowly building the cash pile for future spending in 2026. This way, I don’t and won’t touch the capital from those non-registered accounts in early retirement. We will “live off dividends” from those accounts.
Thanks to many dividend raises earlier this year, with more BN in the portfolio last month, more HEQT that continues to DRIP my small LIRA every month and with some more purchases in Capital Power (CPX) of late, I am happy to share we have surpassed our 2025 dividend income target already.
*Recall these PADI updates on my site focus on 1. our non-registered accounts, 2. our RRSPs, and 3. my small LIRA from a former job years ago. I have reported things this way since January 2023 since these are the first accounts I will use to fund semi-retirement / retirement with.
I also share this information not to brag. Hardly. I know some retirees that earn over $100,000 per year from their portfolio!! Rather, I share these updates to tell a big part of our investing journey. It keeps me focused and accountable for my investing decisions. I hope this transparency helps you out in your journey too.
What does this all mean? Well:
- That’s averaging just over $4,352 per month without any TFSA assets counted.
- This is income I can spend beyond my future pension at work let alone my wife’s pension plan – her plan will be converted to a LIRA later this year into low-cost ETFs and some individual stocks.
I’ll keep you posted as we progress including updating my target on that chart which has now been surpassed. 🙂
There are likely a few other adjustments along the way as we head towards 2026 in a few months!
Take good care, remain positive and fight for your health and that of your family. Income is good, good health is better.
Mark
Other Reading:
The rise of finfluencers seems to have annoyed some folks in the financial industry. There are certainly a LOT of bad takes in any social media sphere these days but I would also argue there is also a modest amount of shady financial “professionals” too. I know a few folks that have been duped by advisors. As always, please leverage your own accountability and values as a compass for any key investing decisions.
Thanks to Dividend Growth Investor, here are the S&P 500 returns by the decade.
Related, Canadian investors keep buying U.S. shares. I guess we did too. We DRIPped about 30 shares of XAW ETF back in June in other accounts.
Hi Mark. I curious as to your take on the situation with EQB and the recent passing of their CEO as well as their decline in several key financial metrics this last quarter. It seems they are having to deal with more bad loans and greater provision for credit losses (PCL). I like them for their rapidly growing dividend and a have a significant amount of their stock. However, I am wondering when the party will be over and their recent struggles this last quarter might be indicating this. What is your take? Thanks Mark.
Thanks for your comment, Chris. I wish I could predict things. 🙂
I own and have owned EQB for many years. It makes up <1% of our portfolio at this time, so I’m “not worried” really. Our 5-year returns are up over 120%. Which have been great of course. I didn’t see that coming but it happened.
So, are there issues on the horizon? Quite possible.
A departing CEO is not nearly as dire in my opinion as overall company financials. That said, a bad quarter or even a couple of bad quarters does not make an investing career. I am watching/holding but not adding any EQB if that makes any sense.
I look forward to your reply,
Mark
HI Mark;
We have a little over a 11000$ invested with EQB so over time I may look to cut that in half and buy some less riskier stocks: L, DOL, RY some from BMO ZLB ETF perhaps. Not sure when I will time this. Most likely when EQB hits another high price point.
I do hate to miss out on those fast ever growing dividends EQB offers though.
Yes, RY, DOL, and even less risk and more diversification, BMO’s ZLB is an excellent fund.
Big fan of that one and XIU for lazy index investing in Canada.
TSX is on FIRE in 2025. Wild. Ride the wave while we all can. 🙂
Cheers,
Mark
Hey Mark,
Our annual divvy income is now at $74,840. We’ve started to use the dividends from the non-reg account to make up for my lost income. I have one more consulting cheque to receive, but there is currently no more work contracted. I’m hopeful some work will come my way in the fall. If that doesn’t happen then I will explore other options for work. I’d really like to turn the drip back on in the non-registered account, and also be able to save for TFSA contributions. To do that, I’ll need an income, even if just an hourly paid job. Maybe I’ll be barista fire! Luckily, my wife will continue to work for a year or two, and then it will be time for her to retire without any penalties.
I’ve been working since age 13 when I started cleaning and shining shoes in the men’s locker room at a private golf club. I worked hard and was able to transition to the banquet kitchen and then I ran the short order kitchen. One summer I worked 6am to 6pm Monday to Friday and 6am to 9pm Saturday and Sunday. I had only five days off that summer. I enjoyed the work, I was good at it, and made a ton in overtime. It’s kind of nice to sit back a bit, at least for the summer, and spend some extra days fishing.
Congrats on your PADI milestone. Now the divvy raises mean a lot more to me!!!
James
Hi James,
I hope you don’t mind me chiming in here… I wanted to wish you well with your search for consulting work. I’m glad you are sitting back a bit and enjoying the summer and am sending all good wishes your way for consulting work or barista fire, whichever you choose to do!:)
Agreed, James is most deserving of a fruitful retirement!
I echo that.
Thanks JF, Jimmy and Mark – I very much appreciate your thoughts and wishes for me. I am definitely going to enjoy a fishing packed August. Once September comes it will be time for some important decisions about how I spend my time as my wife goes back to the classroom.
With gratitude, James
Well done once again. You’ve done very well.
James, congrats back to you too!
Earning over $74k per year from your portfolio is rather impressive…
Curious, would that cover all your expenses or most?
Personally, I think it’s wise not to DRIP inside your non-regs. for a few reasons and instead take the cash. Cash be spent for strategic purchases here and there, you can build up your cash fund/wedge, you can move cash to TFSA every year – all the time by staying invested. 🙂
How much is your wife’s pension and what age does that kick-in?
Enjoy the summer and I hope your wife can join you in some sort of retirement soon!
Mark
Thanks Mark!
As I’ve stated in the past, my goal was to get to $84k/year in annual dividends across all accounts. I had been dripping in the non-registered account as a means of helping to get to that goal, but I turned the DRIP off in June so that in July I could start harvesting the dividends for cash flow.
The $84k target was mostly a numerical objective of $7k avg / month. But to reduce our RSP/RIF account to zero by age 70 we would be taking more than the dividends generated from those accounts. That drawdown of RSPs with non-reg dividends, and some dipping into the TFSAs plus my wife’s pension should easily meet our income needs, including an annual car payment (I suspect we will only purchase one more vehicle, but mine is in trouble so that might end up being 2 over 10-12 years).
I’ve also mentioned in the past that the non-registered account (mostly) consists of leverage (it’s about a 90/10 split). We borrowed significantly on our HELOC. Today, the account’s value is 2.25 x what we borrowed, and the generated dividends are 2.37 x the interest costs. The interest is fully tax deductible and comes close to offsetting the tax from the dividends (but not last year, as my severance package caused an exceptional spike in my income for the year – I’ll have a similar issue for this year, but it’s not substantial).
My wife’s pension, if she works to June 2027, which was the plan for both of us before my job loss, will be roughly $46k. We plan for her to take OAS at 65 to replace her bridge benefit. I would defer mine if there’s going to be substantial clawback, but I suspect not and I will start mine at age 65 also. We both plan to defer CPP to 70 as long as our health outlook is positive.
The plan is to sell our house in 2027 / 2028 and move to a four season lakefront property. That plan also includes paying off the HELOC from the proceeds of the home sale and using the balance to fund the purchase. However, as real estate slides, it’s looking like we will carry some kind of debt to fund our retirement home. I’m not too fussed about it either way, but I certainly would have preferred to have zero debt. I have extensive spreadsheet models that demonstrate we can easily support some debt in retirement. For now, I model paying our current mortgage ($600 bi-weekly) into 2030, and carrying the full HELOC as if we never move.
That will work, and it includes a decent entertainment budget (we really like attending various concerts and Mirvish shows) as well as an annual travel budget of $16k. It also includes a $900 / month vehicle payment. (This is all post retirement for my wife).
Everything changes if I get more work, but I would prioritize getting back to reinvesting dividends (drip or not) and making pre-payments to the mortgage. I would definitely like the mortgage paid off by the time we sell / buy, leaving only the HELOC to deal with. I will seriously consider a minimum wage job if I get to do something I love (think, cooking, food prep, etc.).
The biggest weakness in my plan is whether I have under or over estimated retirement expenses. I feel like I’ve thought of everything but I’m unsure. I really benefited from Bob W’s numbers – that helped my rejig things a bit and gave me some additional confidence.
Well, as usual I’m longwinded, but I have gotten a lot of good advice here and I’d rather overshare and get some great perspectives than not.
If you got this far, thanks for reading!
James
Happy to read, well done. 🙂
A few replies….
1. A goal of earning $84k/year in annual dividends across all accounts is VERY good.
2. I have done the same – I prefer cashflow so DRIPs turned off in both non-regs. x2 and both RRSPs x2 for us.
3. I think you are VERY wise to get RRSP/RRIF money gone while younger and have the means to enjoy spending. Life is short.
4. As long as you are comfortable with debt, that is good….leverage but I would consider killing all debt before both of you retire. Just risk management that way.
5. That’s a good pension base = $46 per year. I hope to have something similar at age 65 for me/waiting for me. That, plus CPP + OAS income for you both = about $70k per year after-tax spending!!
6. If you can both defer CPP to age 70, that is ideal IMO. re: get the RRSP/RRIF $$$ out.
7. Lakefront sounds lovely!! See debt comment. I would be inclined to have $0 debt in any retirement plan.
“I really benefited from Bob W’s numbers – that helped my rejig things a bit and gave me some additional confidence.”
Great stuff. Bob has a great cashflow plan. 🙂
Mark
I am not into dividend income as my preference is still in growth U.S.stocks and ETF’s. So far, I have been lucky to see my portfolio is doing pretty well. I like to invest in stocks that reflect current needs, like critical minerals, A1, robotics, etc. Hope I am right, so far I cannot complain. Wish you Mark and all investors the very best.
Excellent, Ken!
Ya, I still have the same boring plan = 25-30 CDN stocks and then mostly low-cost ETFs for growth after that.
I hope to hit $54,000 per year from my key accounts by the end of the 2025. I had to change my income target because I just passed it!
I also wish you and all DIY investors well – lots of ways to invest and be successful. It’s not indexing or nothing like some in the financial planning community bark at constantly.
Stay well and keep building. 🙂
Mark
That’s great Mark! Upon reflection much of your stock picking has been astute.
My way of investing is different as you know … others sticking to Modern Portfolio Theory think it very unwise. But I beg to differ and have lots of time to study and more inclined to the now deceased Charlie Munger opinion that “it’s twaddle”.
Bought more Enbridge on Tuesday with the BNS payout for our combined TFSA portfolio on the cusp of $600,000 (market value). Brings the income up to $34,650 and by the time January rolls around, and with the pending $14,000 contribution, there will be $50,000 for next year’s reinvestment sequence.
As my wife says – hope to live long enough to enjoy it but I say one of us will die before the other so the survivor gets it all and they – survivor and/or heirs – can do as they will …
Our goal is to reduce our non registered income to the point where we receive a benefit such as the Senior’s credit which only applies to my wife at present. We’re not covered by the national dental plan since our present income is too high. And I’m still getting my OAS reduced but that of course is another goal for elimination.
Some people may think this is kind of immoral but I did defer my OAS until 70 and “the risk” this entails. My wife is doing the same. Nothing of the above is illegal and usually the criticism is baseless and tinged with envy.
Hey Barry, I plan to postpone CPP and OAS until age 70 along with my spouse to burn out our RRIFs and corporate funds. I don’t see why this is immoral, because if one or both of us die then we will receive $0 of what we contributed to CPP. I am honestly ok with that because I am fine with contributing to our “welfare” state programs. LOL. And if we do live long enough, then we get the tax benefits and guaranteed income when I am old and gray and don’t have the mental capacity to manage a portfolio. I am not criticizing your decision, it sounds wise!
I agree.
I’ve seen hundreds of financial plans/projections over the years and the income and tax benefits are consistent:
1. Get corporation money flowing out (if you have one) sooner than later.
2. Get RRSP/RRIF, LIF, registered money flowing early in retirement if you have other assets like non-reg. + TFSAs.
3. Consider deferring CPP and OAS until age 70 to spend 1. and 2. above to meet your income needs, smooth out taxation, and finally get the most out of government benefits as you age when you may or may not need have the desire nor mental capacity to manage a big portfolio in your 80s+.
Cheers! Good disucssion!
Hey Mark,
Re#1; just wondering what do you consider corporation money?
Get #2 have been doing that for several years now, goal is not to burn down my RRIF though it’s more like flatlining it.
Not sure about 3#, it totally depends even enhanced OAS/CPP would not cover nearly enough income unless NR/TFSA are substantial enough (not the case for most I’d think). Just did my annual review of my foreign benefits (DB and OAS), trying to figure out when to start taking DB at the moment leaning towards early (60 at the latest and move excess income to Tax free) and keeping CPP/OAS at 65 for now possibly defer one. I’d be hesitant to bet against the “insurers” they know full well who benefits from higher deferred payments and it’s not the folks getting paid (on aggregate).
I would not consider Canada to be a “welfare” state by any stretch. My baseline OAS according to my latest statement would come in at >$30,000 at age 67 + vacation pay had I not left:)
Great question.
My plan is to withdraw the cash in the coming 5 years. Mentioned here:
https://www.myownadvisor.ca/financial-independence-update/
“NRT” = Non-Registered (N) with Corporation assets, with RRSPs (R), then TFSAs (T).
That is my drawdown order:
1. Non-Reg. live off dividends + 2. Corporation withdrawals + 3. RRSP drawdowns in my 50s and early 60s.
That should deliver our desired $6k per month after-tax rising with 3% inflation.
I’ve always mentioned my goal is to get rid of RRSP/RRIF assets by early 70s. That’s still the plan.
Not tax advice for you, but I think keeping CPP/OAS at 65 (for now) with the potential for deferral is great.
Where else are you going to get a 42% pay raise from a bond by deferring CPP from age 65 to 70??
🙂
Cheers!
Great work, Barry.
I recall you have a heavy bias to some CDN stocks.
How many do you own again? Canadian stocks? Is that only what you own?
Congrats on the TFSA value – far better than most!! Ours are over $400k now.
If OAS clawbacks are happening to you, well, a good problem to have. 🙂
Nothing wrong with OAS deferral if you “don’t need the money” – could be good tax planning on your part to get registered assets like RRSPs/RRIFs, LIFs, down in value before you take deferred government benefits. That’s just smart.
Mark
Down to 12 now …all Canadian. Not saying everyone should be like me. My friend downstairs and I often talked “the markets”. He embraced some of what I do and says he learned a lot – and I turned him on to Tom Connolly’s dividend growth website as I was a subscriber to his “reports’ for 2 decades. However Jerome is 30 years younger and more hip to other trends – Gold, Bitcoin … and Shopify. I’m not interested in the first two and wasn’t going to spend a lot of time explored the last and other such trends.
Used to own Abbott Labs and JNJ for years and years but spent a lot of American dollars on a major road trip in the US. Visited over 45 National Parks … money well spent!
Down to 12 now …all Canadian.
Well done.
No, I get that: re: “Not saying everyone should be like me” but there is some conviction in your investing approach – which is a teachable moment I believe.
Same, used to own Abbott and JNJ and PG for years here too and then I put the money into some QQQ and indexed stuff and returns have been just as good if not better and less U.S. market stock watching. 🙂
45 parks is impressive!!!
Mark
Got to find the right balance re. spending, saving and ENJOYING life. We travelled the our continent from Alaska to NFLD to Florida and California in our trusty 2008 Honda Civic. The parks are the best thing about America. Hiked our brains out in Utah.
I traded the Civic for a 2020 HRV All Wheel drive Honda Sport with only 24,000 kms (as of purchase in Nov. 2024) and never – would you believe it – drove outside the Lower Mainland in BC during winter. But that’s what we did in January (Rockies) and loved the trip, the car and the excellent Winter Tires.
Aside from all that – this is great … every investor should read this … lots of pearls here in the excerpts on Google Books. Have to read it again, and again and … again. https://www.google.ca/books/edition/Richer_Wiser_Happier/u14lEAAAQBAJ?hl=en&gbpv=1&pg=RA1-PA1&printsec=frontcover
Awesome, Barry. 🙂
I figure our annual expenses are about $6k per month.
Our income projections show as of 2026 if we can earn about 5% annualized returns + 3% inflation (2% real return from stocks + ETFs) we should be “fine” and not even touch our TFSAs in retirement – which implies we have enough to retire based on that spending.
It all depends on what you intend to spend.
If cashflow from portfolio > annual expenses, then you have enough I believe…
Thoughts on that?
We hold a lot of the same stocks I recall but not surprised since many DIY stock investors tend to own the same things:
-ENB, TRP, SOBO for pipes/energy.
-Canadian banks.
-Grocery stocks (e.g., Loblaws, Metro).
-FTS, EMA and others like CPX and BEPC for utilities.
-Other stocks you wish like POW or REITs or Brookfield.
I recall you mentioned you hold “lots of cash” in case you are wrong about any one stock. Seems super smart to me and hope to do the same!!
Thanks for the link to the book (Richer, Wiser, Happier) – will check out. 🙂
Mark
Yes … the cash bit. Added to it when I sold BCE. I was “wrong” about that sucker. On the other hand I received more in dividends than I ever put into the stock and in the end when I sold it was at a price just below what I paid for it … so a wash – and I “needed” the capital loss anyway since it offsets some of the the capital gains for the year. At present I have zero in “the pool” from previous years.
Off topic but If I might add in terms of tax planning, OAS and retirement. When I decided to collect enhanced OAS at 70 I thought “better sell what I want to sell at 69 (the previous tax year) so as not to, in future years, get my OAS clawed back.” Well no … the first payout at 70 was based on the income from when I was 69 (tax year filed when I was 70) and based on the GROSS and not the NET amount after deducting previous years losses from the gains.
So I was clawed back (they reassess your payout every year after you file taxes and the reassessed amount appears every July.) … but in the scheme of things it was OK. Just giving everyone a heads up for retirement planning.
Ya, I’m gonna get bit by the clawback earlier than I had planned but there ain’t much I can do about it now. Probably accelerate the charitable donation of shares to reduce the dividends in the non-reg. Any non-reg GICs can also be rolled over into some kind of growth equity but I’ll still have to claim the accrued interest annually and it will take five years to accomplish this completely. And by then I’ll be close to being required to convert my final RRSP so that will boost the income up again. So I guess I’ll just accept the inevitable and not worry about it. I don’t really get hung up on paying taxes much anymore. It is what it is.
Exactly. As long as you have more than enough to live well with the occasional splurge on that which makes retirement enjoyable before the inevitable then “so what” re. OAS clawback. It’s the right thing for government to do as it was implemented to help low income Seniors. I don’t really need it but the residue covers taxes – and that’s incredible but I did plan for all this.
Good stuff on OAS, and yes, CRA will and want to assess your income to support what they will or will not pay from OAS.
If you are slightly clawed back on OAS – that’s a good problem to have. I hope to have the same issue – earn enough income in retirement as to avoid the slight clawback/how to navigate that. 🙂
Mark
Congrats on exceeding your ’25 div income goal already. Its not a surprise!
A blend of income producers and growth from cad stocks, 1 cad etf, small income and growth from 1 US stock, 1 US/int etf, a mix of gics, cad bond etf, cash for cash flow liquidity, stability, income and sleep at night factor here.
Seems to be doing the trick so far.
Excellent work, Deane. Kudos. I will write you back soon!
You have an incredible cashflow plan.
Mark
Thank you!
Great.
Curious on your thoughts about the US economy- risk of stagflation given inflation from tariffs combined with job losses/increase in unemployment. The Orange Fool is doing a number on the economy and it’s definitely making me nervous about US ETFs and the bond market / value of the US dollar. I am just leaving things as is but it’s a concern – hopefully the US doesn’t go the way of Turkey or Argentina!
Sigh, just terrible times, Sandra.
Hard to know what to think anymore…
I will still invest in the U.S. market, for sure, I do via QQQ and XAW primarily but happy to put more $$ to work at home too given it is my hope more infrastructure/energy-related spending will ramp up.
I personally believe the U.S. will never recover from this point forward in terms of their debt-load. They are past the point of no return…moving towards a country of a few haves and tens of millions of have-nots. Inveitable I think.
I agree about the debt load, although Canada is likely heading in a similar direction as the government helps fund infrastructure projects. I was reading about stagflation in the 1970s and it took a decade for the S&P to bounce back, so a lost decade of growth. I don’t want to panic sell, but if the Orange Fool replaces the Fed Chair and others on the committee, there’s a good chance they cut interest rates increasing inflation further. This can’t be good for the American people or the economy. At the same time, US companies are global so if the rest of the world manages through this, maybe the stock market won’t have another lost decade…my Magic 8 Ball isn’t telling me what will happen! 🙂
Mega caps have a lot earnings from foreign countries. Cut interest rate is tailwind for their revenue . Eventually, stock market is determined by earnings . We shouldn’t invest based on headlines
Haha Will. Not saying I would react based on headlines but we should consider actual administration and policy changes, especially those that are going to hurt the US (and thereby) the global economy.
True, Will, but I do believe the U.S. economy is in for a world of hurt so I’m not expcecting the same stock market performance going forward. I figure 5% annualized would be a gift for the next decade but we shall see!!
How much of your portfolio is in the U.S.?
Mark
Basically 80% of my portfolio is VFV. I believe once we have new Fed chairman and lower interest rates, VFV will get hurt(underperforming), but my problem is if I sell VFV, I have to pay capital gains and also I don’t know whether it’s good idea to switch back and forth to S&P 500 if US is outperform again in the future
You might be right…re: VFV going lower. That said, VFV long-term is an excellent fund to be in.
I have no idea what the futue holds…I do like my mix of stocks + low-cost ETFs + cash though. So far, so good.
Potentially with a few more purchases, likely higher next month.
Mark
I have very little doubt the Orange Man will find a way to fire Powell (without any authority to do so), rates will be cut, and the U.S. economy will suffer.
I will continue to have a bias to my dividend paying stocks in the meantime! 🙂
How is your corp. coming along? Drawing that down yet?
Mark
I honestly find it shocking what the Orange One is getting away with, without any checks and balances. And it seems that the majority of Americans don’t care or aren’t aware. I’m drawing down corp and RRSP, with a focus on selling US ETFs (partly to rebalance and because I think they are going to fall and underperform). I probably can’t do it fast enough for the corp – it’s a capital gains balancing act. Thanks for asking!
I’m not sure they are very bright to be honest – voting for him in the first place let alone a second term.
Smart stuff: drawing down corp + RRSP withdrawals. Again, see it often with many Cashflows & Portfolios clients – get the money out and flowing before forced withdrawals with RRSPs/RRIFs in 70s put folks in a tough tax problem. Why do that if you can a. enjoy the money and b. smooth out taxation hits at the same time? 🙂
Cheers,
Mark
I know it’s really meaningless, but this month (15th) my RRIF/LIF withdrawals will pretty well equal the total my RRSP/LIRA contributions.
Good stuff.
Lloyd, do you do your RRIF/LIF withdrawals monthly? Every month or quarterly or other?
I hope all is well.
Mark
Monthly. It’s nice to have a steady, predictable income each month. The distributions from XEI come in on the last day of the month in both the RRIF/LIF and come out on the 15th. I have a 20% withholding on each as well so I shouldn’t normally have to worry about triggering the CRA installment payments.
Doing as well as expected. Dealing with the banks, credit unions and pension plan to ensure they get everything correct is a royal pain in the you know where, and they sure as heck take their sweet time to do anything. Takes a couple of days just for them to respond to one email.
Gotcha, monthly.
I recall you own XEI – that’s a good income fund.
Glad to hear you are doing OK, as best as you can. I hope you got my notes/emails…
Take good care of yourself.
Mark
XEI is the only equity now in the RRIF and LIF. Just shy of 32K of them, basically to generate the income for the withdrawals. Probably add more when a 5.6% GIC matures this fall in the RRIF.
(got your emails, appreciate it)
Great stuff, Lloyd. 🙂
I think you’re wise to continue to hold XEI for income and some growth.
Mark
XEI works well for its intended purpose…I just wish they’d smooth out the distributions a bit better. Blackrock seems to be able to do it with XDIV, not sure why they fluctuate XEI so much. Granted, that’s a pretty petty complaint. 😉
Ha, yes, you have good problems owning XEI 🙂
Mark