No. of Recommendations: 2
I am inquiring about the ABC's of setting up a DRIP portfolio. Correct me if I am wrong: 1) It appears that one has to join something like Moneypaper, 2) Then send them enough money as outlined in their pamphlet to buy at least 1 share of each company which you want to set up Drips, 3) I am less clear about the next step -- Do you then send a check to each individual company each month? Thus, 4 Drips, then 4 different checks to the companies or is there a central broker so you can send one check detailing how you want it divided?

Additionally, I would like to set this Drip up for my two children. They do not make enough money to invest themselves and this appears to be a good way to build up a portfolio for them. Has anyone any experience or thoughts on how the best way to set this up to minimize taxes -- specifically inheritance taxes.

Thank you in advance for any help.
mspan

Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement