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Financial Products & Services / Discount Brokers
|Subject: Re: Scottrade DRiP to Become Reality||Date: 1/29/2013 12:57 PM|
|Author: crackdclaw||Number: 50070 of 50341|
Me, I usually have a list of things I want to buy but don't have money for. And most often that list *doesn't* have "more of XYZ" (where XYZ is a stock I already own). Sometimes it does, but not often.
Of the four stocks I listed above, JNJ / PG / FAST / IBM, I would like to own more, except maybe not more FAST as it's getting expensive. I may change the dividened reinvestment on that, but will probably do so when I sell some of the stock itself. The IBM is the most recent of the purchases, and only bought 35 shares. I would love to own more IBM, and as time moves along, will.
If you have a decent-sized account (5-6 digits), then every 2-3 months you've accumulated enough dividends to buy something new.
Well that's my goal as well, only the something new would be new travel, new dining experiences, new bicycles or kayaks, new sporting events to attend. I believe we're at different stages of our investing. You're retired, I just completed paying for children's education and can now focus more on aggressively saving for retirement. Which I hope to begin in 6 or 7 years, and do still believe in dividend reinvestment as a means of getting there. Then when I retire, I'll change over to receiving the dividends directly.
Doug Le Du (sp?) at CDx3 talks about "self-funding" dividend portfolio, when the accumulated dividends of the last few months is enough to buy another 100 shares of a dividend-paying stock.
An interesting perspective and may have to read up on him. However I don't have time to reseach additional individual stocks and not sure I want to buy 100 shares of someting else (unless it's a product or service I've fallen in love with). I'm primarily an index investor, but have some individual equities. Along with the four mentioned I also have BRK-B. I monitor these 5 stocks about once a month, for maybe 3 to 4 hours of reading. I don't want to invest the time to buy more individual stocks right now, but would enjoy owning more of what I already have and already follow.
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