It would take a whole lot of luck and all the right catalysts for investors to make home runs and get rich quickly. This doesn’t happen in most investing scenarios unless investors are taking bets across a basket of ideas, expecting some to run to zero and others to run to the moon — much like venture capitalists dividing their capital accordingly to make bets on a basket of promising, young companies.
Most retail investors probably don’t want to make this kind of investment — at least, this kind of high-risk strategy should not make up a big portion of their diversified portfolios as a precaution to protect their hard-earned savings.
If you’re set on reaching a $1 million portfolio, taking it slow and steady with blue-chip dividend stocks may be the way to go without taking excessive risk.
Let’s say you want to take advantage of the dividend tax credit on Canadian dividend stocks, which allows you to pay lower taxes…
