After I received a dividend for my QBE shares in April, I slowly started saving for the purchase of the next parcel. Then I got to thinking in August about how lax we have been with saving lately and transferred 10% of my pay over to the investment account.
This meant I had enough to buy the next parcel, which I did last Friday, for a total of $554.95.
I originally wanted 1000 QBE shares but I originally started buying them in December 2015 for a cost of $12.54. Just last Friday the cost was $11.10. They have been up and down over the last year and a half but the price hasn't seemed to grow much, so I think I will leave these at 500 shares and look for something else to invest in next.
I'm not going to sell them because the dividend income is good (and also because I tend to hold onto shares rather than sell), but I think next will be maybe an ETF share or something. My brother-in-law has a lot of Vanguard shares and highly recommends them, so I might look at something like that - with more of an international focus.
And I've just realised that I can pretty much tick off savings towards shares off the sidebar because I have saved that amount!
That's about all my musings are for today, hope you are all well!
Share Purchase
August 30th, 2017 at 08:35 pm
August 30th, 2017 at 09:22 pm 1504128143
August 30th, 2017 at 10:24 pm 1504131840
August 31st, 2017 at 12:04 am 1504137889
2nd, I know in Canada we can buy two Vanguard products on our stock exchange for a modest fee; we get trounced on income tax on dividends and/or capital gains as it's a 'foreign' item. I suggest you verify any income tax ramifications before you buy, to avoid surprise which easily turn joy of profit to an unanticipated loss. Added to that are currency exchange fees which are not recoverable here.
August 31st, 2017 at 02:43 pm 1504190610
August 31st, 2017 at 08:30 pm 1504211447
As for the ETF shares, they would only be ones that we can buy on our Australian stock exchange. Through my broker you can buy directly international ones but brokerage is $60 per trade which I think is ridiculous. We have Vanguard shares on our stock exchange (even though they are international so I'm not sure how that works - our clients have Vanguard and the income is treated as a managed fund distribution so a combination of foreign income plus trust income and capital gains distributed). Anyhow, I definitely do not want to deal with currency fluctuations either so will not buy directly international. Thanks very much for your detailed advice!
Rob- thanks