Okay. The FAQ should ask and answer typical questions related to Drip investing and to (especially for this board) the Drip Portfolio. (Drip Portfolio questions are secondary, though, of course. The main thing that we all should want this FAQ to do is help newer Fools with the basic Drip investing questions. This will help the board, as well, because it will keep it free of the same oft-repeated questions.) Anyway, I know that many of you will think of many things that Vince, Brian and I wouldn't think of on our own.I'll start with one example of a question and answer that we'll use on the FAQ. Q. What are dividend reinvestment plans, or DRPs?A. DRPs (or Drips as we call them) are investment plans sponsored by over 800 public companies that allow shareholders to buy stock directly from the company in amounts ranging from as little as $10 per month to as much as $15,000 (or more!) per month. The plans are usually commission free (in fact, the Drip Port tries to invest only in commission-free plans), or have minimal fees. You can invest in most plans every month if you wish. Meanwhile, you have the option of having all of your dividend payments reinvested into more shares of stock, usually for free as well.These plans carry many others advantages, including the ability to buy in small amounts time and again, the ability to dollar-cost-average into your stocks, and, let's not overlook the fact that they alll but FORCE us save money regularly. The fact is, most people in this country don't have bankloads of money stashed away; they must save money with each paycheck if they hope to build lasting wealth for whatever benefit. But saving money in a savings account isn't enough. It needs to be invested. DRPs are the perfect investment for the Fool with a little knowledge.
There's already a FAQ out there. Maybe we could simply refer new Fools to http://www.noloadstocks.com/what.htmBut if you do want to compose a new FAQ for the Fool message boards, here a possible Q & A:Q: How do I find out which companies offer a Dividend Reinvestment Plan (DRiP) or Direct Stock Purchase (DSP) plan?A: Visit http://www.netstockdirect.com for the most comprehensive information. Registration to use the site is free. When you use the site's look-up feature to find out details about a particular company's plan, be sure to pay special attention to the section on fees for a given company's plan. Fees vary from plan to plan. Some companies require the individual to be a shareholder of record of at least one (1) share in order to join the plan, but subsequent optional cash payments or automatic investments (bank transfers) have no fees associated with them. Some companies allow the individual to purchase the first and all subsequent shares directly from the company but there are small fees associated with each transaction. Other excellent resources are books by Charles Carlson:"No Load Stocks" and "How to Buy Stocks Without a Broker" (available in most large bookstores or from Amazon.com or BarnesandNoble.com). Trevar
Thank you to everyone so far for helping greatly on the Drip FAQ. Three Fools especially, thanks!; everyone'll of course get full Foolish credit for your help in the FAQ.I'll be working on the FAQ the coming few weeks, so don't fret; it'll just be a while before your posts (and more) posted here (below) in an official FAQ. Help (and improvements to the FAQ once posted) will always be appreciated.Fool on for now!P.S. Today George writes Drip Port; tomorrow we're back on the company study.Jeff
I think the DRiP FAQ is a good idea. But, I see only one drawback to the FAQ. Whenever someone posts a question to the board, like "What is a DRiP?". There will be a hundred replies stating, "SEE THE FAQ". Hopefully, this won't happen though.l3inG
Yup, hopefully there won't be hundreds of posts saying "See the FAQ!" The FAQ on the Rule Breaker board seems to help greatly. The common questions are no longer always posted on the board; apparently, the answers are found beforehand in the FAQ. That's the goal anyway! :)Fool on!Jeff
"What is a DRiP?". There will be a hundred replies stating, "SEE THE FAQ."One way around this would be to place a highly visible link within the two DRiP boards. I'm not sure how difficult this might be, as I'm guessing that the pages are created dynamically from the same form. However, I'm guessing that this could probably be included within the programming.george
One way around this would be to place a highly visible link within the two DRiP boards.Hi George,Right on! Check out the Rule Breaker board when you have a chance:http://boards.fool.com/Message.asp?id=1030051000612018&sort=postdateThere it shows the FAQ at the bottom, below every post. I think most people see it and hopefully they read it early in their "career" on the board.Best,Jeff
Hi George,Right on! Check out the Rule Breaker board when you have a chance:http://boards.fool.com/Message.asp?id=1030051000612018&sort=postdateThere it shows the FAQ at the bottom, below every post. I think most people see it and hopefully they read it early in their "career" on the board.That's why George is obviously one of my favorite fools!l3inG
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