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The payoff
– moneysense.ca
Randy Foster
AGE: 60
PLACE: Chatham, Ont.
TFSA TOTAL: $81,555
STRATEGY: Mostly banks and financials with some energy stocks
Me and my TFSA
Randy Foster is 60 and happily retired in Chatham, Ont. In fact, he retired at the young age of 49 on full pension after 30 years of working as a group leader in the materials/logistics department of Navistar International, a trucking company. He has been investing in his TFSA since 2010. “We had just had the huge financial collapse and recession was following,” says Foster. “So stocks were way down.” He seized on the low prices and bought shares in the Bank of Nova Scotia and within a year he doubled his money.
From that moment on Randy was hooked on financials and over the years he’s added to his portfolio. In 2010 he used his $5,500 in annual contribution room to buy Bank of Montreal stock and in 2011 he bought shares in CIBC. In 2012 he bought Emera and shortly after that he transferred his Power Financial Corp…
