I just started my DRIP this year with ENB. In another year or so, once I have a few hundred shares of ENB as a base, I will buy some banks, RY, BMO or TD.

Thanks for your insight, and continued luck with your financial independence journey.

Cheers!

The tax advantages of dividends in a non-registered portfolio are very attractive. Drips offer a forced saving and often a discount. Win-win imo.

I have bought some more stuff in the non-reg account; it’s up to just shy of 200 at book value now. No new positions, but ‘ve added some T, TRP and RET.A. TD is up quite a bit from where I entered before and FTS is also to a lesser degree.

Question for John:
Are you going to buy more stocks for your non-registered account/DRIP, or, are you keeping the same portfolio mix? If so, which stocks will you be investing in and why? I like your TD and FTS picks!

One final comment – you and family are very fortunate to have great wealth, but you’re not quite “retired” yet:
Recall retired definition: withdrawn from one’s position or occupation; having concluded one’s working career.

That said, you’re WAAAAAYYYY ahead of me in getting there!

Cheers and keep these good posts coming,
Mark

If retirement means enjoying your money without having to worry about it running out, is there a limit to how much enjoyment? Does one need infinite funds to be retired? Or how much worry about it running out? Other than those with government pensions, is anyone truly secure? Ask the 50-75 year old (pick your failed company, such as GM, Enron, Nortel, Air Canada, etc) worker who was counting on their pension. Will they need to work again?

What of those who own (shares in) publicly traded companies. Dividend cut(s) could severely hamper their income. A correction/crash could wipe out a lot of money at the wrong time. All are possible events for sending someone back out looking for work who was previously “retired”, regardless of their age.

Suffice to say, life is full of unknowns. Call it financially independent, call it retired, call it a sabbatical, call it being lazy :) A change in my situation has just as many outs if not more than a person in a conventional retirement. I could get an outside job (which in some environments – high unemployment might be hard for anyone) or I could work for one of my own companies. I could sell one or more companies, I could liquidate shares in publicly traded companies or I could sell the house and live in a van by the river! :)

As for being called in on a moment’s notice – I can count the number of times it’s happened in almost 3 years on the fingers of one hand. Each and every time I’m paid for my time.

Georumble:

All dividends and distributions are enrolled in drips were possible.

I don’t see why not. That represents a perpetual, annual, indexed withdrawal of around $70K which is more than a lot of average families ever have.

In the non-registered account, do you receive the dividends in cash of participate in DRIP?

G.

Next let’s have an interview with “Mrs. Retired at 31″. :-)

Congrats to him on accomplishing such feats at an early age.

How can someone who owns 3 companies be retired? He still has a vested interest in their well-being, and even if 2 of them are hands-off due to highly active minority owners, one would imagine he could be called in at a moment’s notice, or suddenly find himself elbow-deep in trying to keep them profitable if they turned.

Just because someone isn’t working a “regular” job doesn’t make them retired. It makes them financially independent. It grants them many of the freedoms of retirement, but we’re still talking about growing one’s wealth, and looking at 40-60 years of life that needs to be funded for him and his family.

Retirement to me has always meant being able to look back at the work you did, and enjoy the money you have without having to worry about when it’s going to disappear. Enjoying the life you worked for. It also means NOT having to work. But a net worth of $1.7 million at 32 years old with a family of 4 doesn’t mean that at all.

John explains the various types of businesses that he owns.

That was a very motivational interview. Do you know however, what types of businesses this young retiree owns/owned?