Here is the plan!
😎Hello Hopeful Investing Prosperity Seekers!
As an investor, you may see (as I do) that investing is a means to buy your time back. So let’s talk about what that might look like.
Today in 5 minutes or less you'll:
⏩ Find motivation to start/continue investing
⏩ Learn what you can do with Dividends
⏩ Commit to consistency
⏩ Be given the tools to buy your time back by going all in on Prosperity 52!
📚Let's start with story time:
Once upon a time a Dividend Investor hit a very exciting milestone in her portfolio; 300 shares of one holding! (ok, truth be told it’s me!! I’m the dividend investor, 300 shares you guys!!)
🕒Here’s the deal. Building Prosperity through dividend investing is a slow process, (like watching paint dry) especially when you are just getting started.
My very first dividend payment was $0.60. Pitiful right? But I stayed the course and added one, sometimes two more shares each week of my favorite dividend ETF.
Fast forward to present day and my consistency is starting to pay off!
On the next payout date, those 300 shares will pay me a dividend of 💵$200💵! All I had to do was buy a share or 2 every single week.
Now, let’s talk about what can be done with that 💵$200💵.
👀As I see it, there are 3 options:
Take the cash
DRIP the Dividends
Reallocate the dividends to purchase shares in another company
Let’s run those options down a bit further.
💵Take the Cash
If we chose this option, we can use the dividends we receive to pay for living expenses.
What bills could you pay with $200?
Cell phone bill?
Streaming Service?
Gym membership?
Your late night Uber Eats delivery of Chicken Nuggets from MCD!
Ultimately this is the goal of a dividend portfolio: the ability to supplement or live off of the income it produces.
💲DRIP the Dividends
DRIP stands for Dividend Re-Investment Plan. When you receive a dividend from one of your holdings, you can direct your brokerage to reinvest any dividends you receive buying additional shares of that same holding.
In our example, that $200 could buy just under 3 shares of the same holding as it currently trades just over $70/share.
That's 3 shares I didn't pay for! $FREE.99!
⬇️Which decreases my cost basis (the average cost of all shares purchased)
⬆️Increases my yield on cost
AND….. creates more dividend income!💰💰 Giddiness abounds!
➡️ Reallocate the Dividends
The third option is to take the dividend but invest the money in a different company or ETF.
Whichever option you choose, you have created a Cash Flow Machine for yourself that will eventually turn into a Dividend Snowball if given the time to grow.
So given my recent milestone, I want to invite you to hit some milestones of your own. So I present to you a challenge…
⚙️Prosperity 52
Here is the plan:
Determine the amount you can afford to invest every single week (Any amount!!!)
Commit to investing once a week
Decide what stock you will buy each week
Share the challenge and be supportive
Be an accountability partner and rave about your progress toward Prosperity!
I’ve even created a way for you to track the amount you invest each week and the shares you’ve added.
Simply Download, Print and Prep your Prosperity 52 Plan for 2024
Are you excited for Prosperity 52? 😍😴
Then leave me a comment so I know you are all in and what your plan is!
Follow me on Twitter/X where we will be discussing our daily buys by Clicking HERE!
Most people are too fretful - they worry too much. Success means being very patient, but aggressive when it’s time.” -Charlie Munger
Rest in Peace Charlie.
It’s time to get aggressive!
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Disclaimer
All stock opinions and research are for Informational and Educational Purposes only and are based solely on my opinions. Each investor should perform their own due diligence before investing in any stock.
I am not a financial advisor, just a Hopeful Investor working toward Prosperity in all the things. This isn’t advice, so if you need advice a Financial Advisor might be advisable. 😉
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Very informative and love the audio voiceover element! I’m curious, do you have any suggestions on the best ways to invest from a tax perspective (one of the drawbacks of dividends I think since they’re taxed at interest income rates). Thanks