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263 Posts
While I agree with everyone's suggestions above, it might also be worth figuring out whether the interest you're losing out on is even worth bothering with.
In my case, it's in my RRSP, I buy when I make a contribution or when dividends build to $1000, and my high interest account is paying 0.75% last I checked... right now that means the most I'm out by just leaving the dividends sitting in the cash account is $7.50. It's not worth the hassle to me to worry about that.
That said, if interest rates started climbing back to 5-6% (and money market returns followed along), I might be tempted, but then again, by the time that happens I will probably be up to $1000/quarter in dividends, so it might be a moot point, as I would just buy every quarter at that point.
In my case, it's in my RRSP, I buy when I make a contribution or when dividends build to $1000, and my high interest account is paying 0.75% last I checked... right now that means the most I'm out by just leaving the dividends sitting in the cash account is $7.50. It's not worth the hassle to me to worry about that.
That said, if interest rates started climbing back to 5-6% (and money market returns followed along), I might be tempted, but then again, by the time that happens I will probably be up to $1000/quarter in dividends, so it might be a moot point, as I would just buy every quarter at that point.
