Another great thing about drips is that you dont have to pay any commission when you get your quarterly dividends awarded to ya.
I ABSOLUTELY LOVE drips for retirement accounts. Especially holding fat stocks like procter and gamble and budweiser, stocks that have nice hefty divs. Over time, this is a great way to accumulate shares.
I dont think Id do it with a regular stock account though. Your cpa may shoot ya. I would think it's a hell of a lot of work to deal with as those are taxable in a regular stock account, unlike a retirement accont where you dont have that issue.
BTW, if anybody out there makes some decent loot and doesnt have a retirement account, GETCHA one, youll be glad you did. It's something in life that doesnt get addressed properly and is super necessary.
Dont depend on social security for retirement unless you wanna live in a studio apt in oklahoma with a black and white tv and a kitchen table you got at a garage sale. It simply aint enough to live off of.
No offense to the okies here.
Last edited by Kevin; 09-16-2007 at 09:16 PM..
|