What do you do with your dividend income from WealthSimple?

Asked 3 years ago

WealthSimple doesn't do DRIPs, so I'm not sure if I should manually reinvest the income I've received from my quarterly dividends. Is it maybe better to withdraw them to my account even though the amount is insignificant?

Andrew Moran

Thursday, June 17, 2021

I have two brokerage accounts: one for WealthSimple (short-term investing) and TD (long-term investing). I'm mostly a dividends investor at TD.

For the stocks I hold at WealthSimple that do pay a dividend, I will do one of three things:

  • Add it to my overall cash holdings (always have sizeable cash to employ when the timing is right).
  • Use the returns to purchase more shares in the stock (if the price is right).
  • Transfer the amount to my bank account and deposit it into a retirement savings account.

It all depends on how much you receive each month or quarter.

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