A while back I had let you know that Jordan and I intended on purchases 100 shares where I work - it's an employee owned company with a remarkable return on investment. The sale is in USD so I was waiting and watching the dollar to see when the best time would be to send in my cheque. Unfortunately, I got the timing wrong - if we made the purchase back in September it would have cost $111 less....but, we would have paid more in interest (which is tax deductible for an investment).
Everything is starting to line up for 2014's budget - now all we need is confirmation that Jordan's raise actually finally went through and we can have our planning date.
This purchase is not only an investment in my career (share ownership can lead to increased opportunities); it's also an investment in our financial future. As part of our long-term retirement plan we're starting to make savings choices that are beyond a daily interest RRSP.
If you are really interested in setting up investments and getting in at the right time take a look at http://www.mutualfundstore.com/ they can help you figure out what to do.
ReplyDeleteThanks for the tip Alex - do you use these folks; or do you just represent them?
ReplyDeleteOver the years we've bought some shares from our employers too. Just be careful as you get more embedded in a company that you don't end up with too much of your money connected to any one company. For example, for a while we had personally-owned shares, shares through a Capital Accumulation (savings plan) at work, stock options and RSUs all in the same company. To add to that, since this was a publicly traded corp, any index funds and most dividend funds we looked at or bought (for example within our defined contribution pension plan at work) ended up investing us even more in this same co.
ReplyDeleteAs anyone who worked for Nortel can tell you. Danger, danger, danger!
Some ownership is good. Just keep an eye on it. : )
Thanks for the comment Bet! We've been slowly starting to spread our savings around; investing with my employer (not on the stock market) is just one part of the strategy.
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