Warren Buffett once said that what takes a lifetime to build takes 5 minutes to go bankrupt … but learn to invest like him and maybe avoid this path too. Some people think that to be a good trader you have to buy and sell at a hectic pace every day. Those people are what I like to call it – wrong. The best investors, not just in North America but around the world, know that the long term is the issue of success.

The first thing you do when you want to invest is find a company that you know and understand. If you generally can’t explain the use and purpose of a company’s products, it’s probably a company that won’t last. You brush your teeth, invest in Colgate Palmolive. Use health and cosmetic products every day – Invest in Johnson and Johnson. You drink a cold soda, invest in that brand of drink. The companies I just mentioned need no introduction, but when I mention Canadian companies I will give a general story.

The advantage of stocks is not only that since it is a well established company it will have growth, but also that stocks pay dividends unlike savings accounts and casino gambling. Look at a company’s dividend history just before buying stocks. The largest banks in North America generally pay dividends over several decades while steadily increasing returns. Now this is the most important point: always enroll in DRIP. DRIPs mean that your dividends are reinvested. A 20-year-old who makes a $ 5,000 stock purchase will earn $ 600,000 more when he retires – do the math.

Since Canadian companies have not been mentioned here, there are three Canadian stocks that should be in your portfolio.

BNS.to

The Bank of Nova Scotia serves more than 21 million customers in more than 50 countries around the world and has a wide range of products and services, including normal, commercial, commercial and commercial. The rise in consumer lending was driven by Scotiabank’s $ 3 billion acquisition of ING Direct Canada this year, which boosted lending and added about 2 million customers.

RY.to

Royal Bank of Canada began in the 1860s in Halifax, in the east. It is the largest financial institution in Canada. RBC is known as the largest Canadian company by major newspaper sales and was named one of the top competitors by Forbes magazine. They have steadily increased their dividends over the past century.

ENB.to

Enbridge has the largest pipeline system in the world, which is located in North American countries. Enbridge’s solar energy efforts are the largest and competing in the wind energy market. Renewable energy production is growing steadily for enbridge.