It is full of fantastic advice from a large cross-section of the dividend/investor blogger community. Most of whom I try to read as often as I can, and I learned of a few that I had never heard of! Fantastic!
Everyone is working towards their own goals in life. What I aim to do, to suggest, to show through my own actions that I share publicly. Is that investing is something that anyone can do, and make something out of their will and determination to build a better life.
After you to decide to invest. You then need to have a plan. If you begin with investments that placed from an emotional center, you lend yourself to being thrown off-center, and out of balance. Limit the chaos that an unfounded decision can force you to make. Stay calm and rational in turmoil and times of doubt. Stick to your guns, keep calm and carry on.
Meaningful progress is made if you keep your actions in perspective, even from a very modest amount.
Within my life, I invest with a very small sum of money, usually never more around $500 at a time. I try to keep my fees down as best I can, but sometimes I like to buy into small companies with smaller sums of money. I will research and invest within small and micro cap stocks that I can buy at least 10 shares of if I am investing with around $200 or so. Ideally the costs of my stock purchases will be less than 100 basis points, or around 1%.
I use Sharebuilder and really enjoy the low fees they offer, since I am making my transactions with the intent to buy for decades, in an ideal scenario. But I will always monitor them, and never become too attached to sell, if there is a fundamental shift in how the business is performing, that alters the parameters of why I made the initial investment, and continue to make investments within that company.
Kick the ball, Charlie Brown!
My investing horizon is at least 60-70 years from now.
I am 26, and intend to even pass down my stocks to my kids, and move them into a trust so that their kids and all future descendants can reap the rewards of my efforts and plans to build a better life for my future children and family.
I have missed out on some great years before this point to allow for the awesome power of compounding interest to take control of money that I could have invested towards my future and the future financial success of my family to come, by making the choice over the last 6 or 7 years to not invest. I have only really woken up to this whole wonderful world of dividend investing, and seeking financial independence and eventual total financial freedom since around July to August of 2013, just around the time of my 26th birthday, right before I started this blog.
I started this blog for myself, and anyone that was curious to read it, to show that no one should feel totally lost from where they are today, and where they want tomorrow to take them.
Do not despise the days of small beginnings. I have said it before, that you can make positive changes to save money by choosing to take control and eliminate unnecessary things within your life.
I talked about taking action here with my plan:
The Cut 5, Save 5, Invest 10 Plan
- Cut 5: Find a recurring monthly expense that you can cut that is at least 5% of your monthly costs, and eliminate it.
- Save 5: Trim your discretionary spending from your monthly budget by 5%.
- Invest 10: Take this 10% and invest it to start building wealth today!
I extolled the virtue of buying with a hand held firm. Take control of your life one step at a time.
Take a few minutes out of your day and really ask yourself what it is you want, and where you want to go, and who you want to be. What would you do if there was no such thing as money?
Alan Watts has a great talk about just that idea here.
I picked up 13 shares in my Roth IRA as the first contribution for the 2014 tax year. At $7.52 for $97.76 with a commission of $6.95. They have a yield of 3.67% which will provide a current annual dividend income of $3.64 ($0.28 per share)