2 Stocks That Could Be Your Best Financial Decision

Investing early in the right high-quality Canadian equity securities can be the best long-term financial decision for you.

| More on:

Many Canadians dream of achieving financial freedom after all the hard work they do throughout their careers to enjoy their retirement without worrying about money. Becoming a stock market investor has gained popularity with the rise of fintech platforms that make it easier for Canadians to start trading in the stock market.

Provided that you make the right investment decisions, you can secure a comfortable financial future for yourself as well. If you are just starting investing, you should know that it takes a lot of discipline and patience to become a successful investor in the long run.

Creating a portfolio of the right income-generating assets as a self-directed investor takes plenty of learning, and you will face challenges throughout your investing career before you can achieve success.

Today, I will discuss two TSX stocks that you could consider adding to your portfolio as its foundations to get a good start to your stock market investing career.

InterRent REIT

Real Estate Investment Trusts (REITs) like InterRent REIT (TSX: IIP.UN) are ideal businesses to own for long-term investors. The stock tends to be volatile during market corrections, which means short-term pain for investors during bear markets. However, the comfort of owning a stock that can provide you with reliable and monthly dividend payouts outweighs the short-term trouble during volatile operating environments in the long run.

InterRent owns and manages a portfolio of residential real estate assets in Canada. The company does more than collect rent and maintain its assets. InterRent also focuses on using its revenues to upgrade its existing assets while developing and acquiring more investment properties to expand its portfolio.

InterRent REIT trades for $17.72 per share at writing and boasts a respectable and reliable 1.84% dividend yield that pays every month.

Emera

Emera (TSX: EMA) stock is another reliable long-term investment you can consider adding to your portfolio. Utility companies like Emera do not offer the exciting growth that many other sectors do during bull markets. However, that same affinity to remain stable during bull markets comes in handy during market downturns due to the essential nature of the services these companies provide.

Emera owns and operates utility businesses across six countries, providing utility services to around 2.5 million customers. Emera investors can rely on the company’s geographically diversified revenue streams to keep providing them with shareholder returns regardless of the economic conditions worldwide.

At writing, Emera stock trades for $58.59 per share and boasts a juicy 4.52% dividend yield that could provide you with decent returns on your investment for a long time.

Foolish takeaway

Investing in the right assets and holding onto your investments for the long haul can generate the kind of returns you need to secure your financial future. Saving money from as early an age as you can is crucial, but putting that money to use to earn more money for you through investing is the best financial decision you can make.

Even more critical than investing your money is knowing where to invest it to get the kind of returns you need to achieve your long-term financial goals. If you want to build strong foundations for your investment portfolio to secure reliable long-term returns, Emera stock, and InterRent REIT could be ideal assets for this purpose.

Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool recommends EMERA INCORPORATED.

More on Dividend Stocks

up arrow on wooden blocks
Dividend Stocks

2 Great Canadian Dividend Stocks That Just Raised Their Payouts Again

These companies have delivered annual dividend growth for decades.

Read more »

a man relaxes with his feet on a pile of books
Dividend Stocks

TFSA Passive Income: 3 Incredible Stocks That Earn $2,148/Year

These Canadian stocks have a solid history of dividend distribution and are likely to sustain their payouts in the years…

Read more »

The sun sets behind a power source
Dividend Stocks

Why This Canadian Utility Stock Could Be the Best Stock You Never Think About

This mini-Fortis (FTS) stock is a high-yield Canadian utility stock hidden in plain sight

Read more »

Offshore wind turbine farm at sunset
Dividend Stocks

While Interest Rates Sit Still, These 2 Dividend Giants Look Good

Looking for more income? Check out these two high-income stocks!

Read more »

Colored pins on calendar showing a month
Dividend Stocks

How to Build a Monthly Paycheque Portfolio With Only 5 Stocks

Explore how to build a monthly income with stable dividend stocks in Canada. Grow your paycheque with smart investments.

Read more »

Start line on the highway
Dividend Stocks

Canada Has $500 Billion of Major Projects in the Pipeline: Here’s the Stock I’d Buy

Canada’s plan to speed up approvals for mega-projects could make WSP a key winner long before construction even starts.

Read more »

Concept of multiple streams of income
Dividend Stocks

This 4.1% Dividend Stock Is Such an Easy Passive Income Play

A 4.1% yield might not turn heads, but TC Energy's growing natural gas network makes this dividend stock an easy…

Read more »

Canadian Red maple leaves seamless wallpaper pattern
Dividend Stocks

The Companies Quietly Rewarding Canadian Shareholders While No One’s Watching

Some of Canada's steadiest dividend growers never make the headlines. Here are two TSX stocks quietly putting more cash in…

Read more »