What to invest in?

If you are like me, it is hard to save up money with wage earning jobs.  First of all, the income varies from pay check to pay check. It is mainly due to the hours you work are different for each day.

In a dental office, the work depends on the appointment book. When there are cancellations or the provider decide to take off, other employees suffer. 

That makes it important to save though. 

When I come up with some money, I want to invest in a good company. But, people like me have no background in investing. I don't know much about stock analysis. But, I know which companies I do business with.

Everyone has to deal with at least one bank. So, why not invest in your bank? That is where I started. I had account with Royal bank. In Canada, there are 5 big banks. Royal Bank is one of them. I checked how long they are paying dividends. A Google search of "Dividend History, RY, TSX" gave me that information. It is one of the blue chip companies in Canada. I like the experience with the bank. I like CIBC too. So, I invested in both.

So, there is your starting point. Then learn more about the companies you do business with. There will be insurance companies providing you benefits. We all have our favourite grocery stores. 

Start your research with the companies you do business with. Then know their competitors. Compare how they are doing. With your banking, grocery and cellphone or internet provider, you already dealing with 3 sectors. Have some ownership of those companies where you spend your money. Getting a part of their profit will put a smile on you too. 

 

Bindu