My Canadian RRSP Strategy
Hi Community, I thought I’d share some thoughts on my portfolio. I changed jobs in Feb of this year and the new employer doesn’t have a Group pension plan. So, I’ve been on a very steep learning curve on how to be my own fund manager. I have about a 10 year window before retirement.
I have a LIRA from my previous employment. Opened an RRSP into which I put my monthly contributions. A TFSA and just started building a margin account. Sounds like a lot but I run different strategies on each. I’ll share my thoughts on my RRSP.
Core holding: XEQT + DRIP for global diversification. 50% of new deposits allocated to this.
Wheel options strategy: TSLA.TO affordable, reasonable open interest, with enough volatility to make good premiums. Premiums kept in cash.
LEAP Call strategy: XIU.TO slow, steady, upward grinder. Buy LEAP 2 years out, sell after 1 year.
Buying ENB to wheel. Price is slightly higher than TSLA.TO. Large cap Canadian holding, great dividend and options premiums. 50% new deposits allocated to this.
Core holding is the only DRIP. All other dividends and premiums kept in cash.
Rebalance at the end of the year. LEAPS sold new ones bought and accumulated cash re-deployed.
Well that is the strategy. I’ll keep you posted certainly at year end.
I’m happy to share the strategies on the other accounts if you want to hear them.
