Skip to main content
No. of Recommendations: 0

I've been doing my homework watching the Market for some time and investing in Mutual funds while paying down tremendous credit card debt from a divorce years ago. At this time, that $30,000 in credit card debt is behind me now and miraculously I didn't follow foolish advice from friends to claim bankruptcy!

I had a thought, though. I went ahead and sent for a subscription to the MoneypPaper to buy the share or shares of stock so that I could participate in DRIP stocks. What I was thinking of doing is to buy at least 20 stocks that I feel will be companies on their feet and prosperous in the years to come (I'm looking to retire in about 20 1/2 years). What I want to do is park 1 thousand dollars in each stock and place the certificate in my bank's vault. At retirement time, I would have accrued enough income from my 401 K plan (I will be 60 years old at retirement time) to live on, 2 years later, I would be adding early Social Security income, IRAs would start to kick in at age 70 1/2 and these stocks will dwell in the bank until I want to sell shares for whatever reasons including trips and such.

I'm posting this message because when I have mentioned this type of plan, no one has ever told me that it wasn't a great idea. I figured that once I had $20,000 in stock certificates, I would be adding additional monies in 30 year Government bonds so that I would have income rolling in every 6 months guaranteed.

By profession, I'm an Intensive Care Unit Nurse (R.N.) This is a very rewarding but more stressful job. 've maxed out the 401 K Plan pre-tax and buy company stock (10%) of my after-taxed money at a 15% discount which I had been using up to now to help pay down that darn credit card debt. Though I don't believe in investing in one's company with that much money, I've decided to cash it out every 6 months and invest it somewhere else.
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.
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.