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is now the time to invest in oil stocks?

  • Last Updated:
  • Jan 19th, 2021 6:27 pm
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Deal Addict
Jul 23, 2007
4272 posts
2575 upvotes
I've owned TRP since 2004, ENB 2009, and both KEY and PPL since 2019. No plans to sell any unless like IPL I get a dividend cut (I do make mistakes). I just sit back doing nothing while collecting the income and then re-investing along with savings into other Canadian dividend stocks in the non-registered portfolio.
Deal Addict
User avatar
May 25, 2008
1537 posts
843 upvotes
Toronto
Stryker wrote: I've owned TRP since 2004, ENB 2009, and both KEY and PPL since 2019. No plans to sell any unless like IPL I get a dividend cut (I do make mistakes). I just sit back doing nothing while collecting the income and then re-investing along with savings into other Canadian dividend stocks in the non-registered portfolio.
@Stryker if you don't mind me asking...are you retired/FIRE'd and if so are you relying on this income for retirement - in addition to pension etc.? If so, does the volatility of stocks such as KEY and PPL bother you? Reason for asking is I will be FIRE'd soon and not too comfortable high beta stocks anymore.
Deal Addict
Jul 23, 2007
4272 posts
2575 upvotes
STP123 wrote: @Stryker if you don't mind me asking...are you retired/FIRE'd and if so are you relying on this income for retirement - in addition to pension etc.? If so, does the volatility of stocks such as KEY and PPL bother you? Reason for asking is I will be FIRE'd soon and not too comfortable high beta stocks anymore.
My wife and I are both retired but no we don't rely on our dividend stocks for income. Nice to have the income for maximum yearly contributions to the TFSA's though and still have income left over to re-invest in the non-registered. I can't say I don't get concerned about major volatility in markets or individual equities like KEY or IPL, but I've been investing since before the 1987 crash and I don't lose any sleep over it either. I get used to it.

I wouldn't mind if we could of FIRE'd before we even heard of the word, but we just didn't make enough in salary or savings to manage it. I was always envious of Paul Terhorst and his wife Vicki who retired in 1985 at the age of 35 from his upper management position at a major accounting firm with half a $million to become perpetual travellers since. Stuck in Puerto Vallarta, Mexico since last March, but if their health holds out they'll probably be flying off somewhere again when this pandemic ends.

Wish you the best and I hope it all works out for you in early retirement.
Deal Addict
User avatar
May 25, 2008
1537 posts
843 upvotes
Toronto
Stryker wrote: My wife and I are both retired but no we don't rely on our dividend stocks for income. Nice to have the income for maximum yearly contributions to the TFSA's though and still have income left over to re-invest in the non-registered. I can't say I don't get concerned about major volatility in markets or individual equities like KEY or IPL, but I've been investing since before the 1987 crash and I don't lose any sleep over it either. I get used to it.

I wouldn't mind if we could of FIRE'd before we even heard of the word, but we just didn't make enough in salary or savings to manage it. I was always envious of Paul Terhorst and his wife Vicki who retired in 1985 at the age of 35 from his upper management position at a major accounting firm with half a $million to become perpetual travellers since. Stuck in Puerto Vallarta, Mexico since last March, but if their health holds out they'll probably be flying off somewhere again when this pandemic ends.

Wish you the best and I hope it all works out for you in early retirement.
Thank you @Stryker....looking at FIRE with both anticipation and some fear. Would really like to send an occasional PM to get your advice on if I'm on the right track as you have a wealth of experience.

I hear you regarding IPL. During accumulation stage I didn't have much fear in getting the occasional dividend cut like IPL, REI, ALA etc. It's part of the game and the reality of taking sufficient risk to reach the amount of income necessary for FIRE . If they cut I just swap out of it and don't miss a beat.

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