Would you like to be “an investor” but you just don’t have the cash? Are you trying to save money for retirement, for a dream home, for a child’s education, for a trip around the world – but you can’t see how the little bit you’re saving each month will ever allow you to reach your goal?
If you answered “yes” to any part of these questions, a DRIP account – a Dividend ReInvestment Account –may be just what you need.
In the series to follow, I’ll discuss DRIP accounts in detail. I hope some of you will decide, as I did, that DRIP accounts are wonderful things; that they deserve a place in your financial plan.
I’ll point out the advantages & disadvantages of investing thru DRIP’s and I’ll provide instructions on how you can set one up.
Below are the main DRIP account topics I’ll explore:
· Inexpensive – zero or very low transaction costs
· Automatic Dividend re-investment
· Low initial investment
· Low minimum follow up investments
· Automatic monthly investments – debit checking or savings account
· Dollar-Cost Averaging
· Gift to children – minor or adult
· Difficult to set up
· Easy to administer after initial set up
· Limited investment choices
· Difficult to move between investments
· Manage thru allocation of new money
· Step by Step thru the set up process
· Step by Step thru the monthly purchase process
· DRIP Plan Administrators
· DRIP Plan Investment Choices
· DRIP vs DSPP
I urge you to follow along as I present the attributes of Dividend ReInvestment Accounts. I believe this investment vehicle deserves far more attention that it gets. It’s truly a way to “Get Rich Slowly”.
Link to Topics in the Special Report - How to Get Rich Slowly DRIP by DRIP
Link to the Special Report: "Dividends"