⚠️Please Review Pinned Comment⚠️ Strategy by itself will mathematically be the same as paying your phone bill conventionally. It’s the psychological benefits of it that forces your mind to prioritize investing more. With all the arguments for and against passive income investing I’m going to share with you a simple method that will increase your wealth slowly but surely. Yes I’m going to use a CC etf for this example. Solely because it’s less expensive to implement. You can use regular dividend paying stocks or ETFS as well they are just more cost prohibitive. Let’s say for example your phone bill is $80 per month. Step 1 choose your equity income position. For this example I’ll choose $HHIS Step 2 figure out how many shares you need to pay your phone bill. 80/0.27=296.296 based on most recent distribution. Step 3 Buy 300 shares of $HHIS 300x10.83=3,249 $3249 Step 4 Withdraw Distributions and Pay Phone bill. Step 5. Now you are free to Invest what you would have spent on your phone bill into $XEQT for as long as you maintain your income position. Step 6 when your distributions drop top up HHIS to get the desired distribution. Step 7 Scale up other income positions for your other fixed expenses. Best used in a TFSA to mitigate tax implications. This is and is not financial advice. This is not a recommendation to buy any tickers presented in this post.
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