Ive been investing for the last 3 months into a tfsa and rrsp, just etfs and physical gold. My goal is to get to 20k and then using only 10% of my portfolio, start buying some individual stocks.
I'm now learning about a margin account. Im not a supr risk taker but i like the idea of speeding up my investing, im 46 years old. My tfsa is doing well, I'm up 7% and sitting at $12.5k in 3 months. Vfv, vdy, xef, xec and gold. (Want to add zmid to this) My rrsp is veqt only, just so i can compete with it with my tfsa. If I cant beat veqt then ill put it all in there. So far so good.
Does it make sense, using just 10% of my portfolio value, to open a non registered account, take a margin loan for about 2k, and try investing in sone divedend paying stocks? Play the casino as they say. About as much risk as i think i can handle. If it goes south i can pay it off without selling my shares.
Or is this stupid. Just save as i am and stick to my plan. I've done a few stocks and ive done well, i think i can make decent picks based on my own researching. Should I just avoid the divedend part and just go for stock picks that i like?
I can send my divedends from vdy in my tfsa to pay the interest too. Not tok wortued about risk but weather or not this is a good use for a margin account. I do not have the personality for options or shorts. Lol