Financial markets always carry a degree of uncertainty but with the dust settling from the pandemic jolt, it’s the perfect opportunity to clear the air with a portfolio spring cleaning.
That doesn’t mean all financial stocks are bad. In many cases, they could be suffering from an isolated incident and present an opportunity to buy more at a discount with the cash you raised from trimming the winners.In some cases it might be best to throw in the towel. If you think you have a loser, compare its performance with other stocks in the same sector.
In addition to fixed income yields, a good way to generate income is through stocks that pay rich and consistent dividends. They aren’t as safe as GICs or government bonds because they trade on equity markets but traditional dividend stocks, like the big Canadian banks, rarely miss or lower their dividend payouts.Dividends are often an afterthought but for long-term investors they really add up over time.
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