2016 is now upon us and as I mentioned in the last post, big changes are happening this year. I have finally secured a job related to my graduate studies and will be moving to the US soon - more specifically, Chicago.
Since my TFSA is not really tax free once I am a US resident, I will be emptying it before I move to avoid the extra paperwork and headaches during tax season. The TSX hasn't done too well since this year started but I must sell all those stocks; by doing this, our annual dividend income will be reduced by $1,423.08. Hopefully I will be able to buy back those stocks at these low prices once I have settled down in the US.
Up until now, we have only been investing in US companies through my partner's RSP account, which is limited to 18% of her salary less pension contributions. By working in the US and earning US dollars, I will have better access to the larger variety of stocks on the US exchanges. Once our USD dividends outgrow our CAD dividends, I will probably switch to reporting our dividend income in USD instead of CAD.
With 2 full-time incomes, we should we able to grow our investments and our dividend income much faster.
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