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The Investor Next Door: Dan R

Posted by Alex Conde November 1, 2019 • 2 min read

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Investing is a journey. There’s a goal that you set out to achieve and a path you navigate to get there. Everyone’s goal is different and the path you take to get there is unique. In our Investor Next Door series, we talk to everyday Canadians about their investment journeys.

Today we’re talking to Dan R, a self-directed investor who is retired and working on the continuing goal of financial freedom for him and his wife. We sat down to talk to him about his investment journey.

Questrade: To start with, thank you for investing with Questrade! How would you describe yourself as an investor?

Dan: When I retired, I was depending on my advisor to make all of my investment decisions with very little input from me. Once my monthly statements started coming in, I soon realized the fees and charges were going to eat up my portfolio way too quickly so I decided to educate myself on retirement financing.

Questrade: Why do you invest? What is your goal?

Dan: After 37 years at a great company and our DC retirement plan managed by [name omitted], I was able to walk away with a substantial portfolio. My goal now is to ensure my nest egg will provide my wife and me financial freedom during our retirement.

Questrade: Where do you get your investment ideas from?

Dan: Most of my investment ideas come from online bloggers, financial news, Motley Fool, Yahoo Finance, and Questrade’s newsletter.

Questrade: What was your best investment decision?

Dan: My best financial decisions in order were:

  • educating myself on personal financial and retirement issues
  • opening a DIY account at Questrade and taking control of my financial future, my retirement account is fully invested in [specific stocks omitted for privacy]

At this point we are able to live quite comfortably on our dividends.

Questrade: What investing lesson do you wish you’d learned 5 years ago?

Dan: What choices would I have made 5 years ago if I could do it over:

  • Educate myself to prepare for retirement. Honestly, I did not understand how or what dividends were. I now live off of them
  • Invest more into my TFSA

Thank you Dan for giving us a peek into your investing life.

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The information in this blog is for information purposes only and should not be used or construed as financial or investment advice by any individual. Information obtained from third parties is believed to be reliable, but no representations or warranty, expressed or implied is made by Questrade, Inc., its affiliates or any other person to its accuracy.

The information provided by Dan R. does not constitute advice or recommendation by Questrade, Inc. (“Questrade”) with respect to investment in financial instruments. Questrade does not recommend the use of, nor endorse any of the material presented through Dan R. Questrade, Inc. is a registered investment dealer, member of the Investment Industry Regulatory Organization of Canada (“IIROC”) and a member of the Canadian Investor Protection Fund (“CIPF”).

Any information or testimonials relating to past performance of securities through investment in certain products, industries, or sectors does not guarantee future performance.