To piggy back my earlier post of the review of Loyal3, I wanted to point out another good feature. I started investing in Loyal3 in July with small amounts towards a few companies that I wanted to grow nice positions with. As I detailed in one posting, I received dividends deposited into my Loyal3 account from three companies so far, which are Intel, Wal-Mart and Target. These dividends were nominal to say the least, as they totaled a whopping $2.42. As a new investor, I want to put my money to work for me as quickly as possible to build my positions. Luckily, Loyal3 allows me to purchase stocks for as little as $10 bucks and I can distribute those dividends to any stock I choose. In this case, I decided to add $7.58 principal to the $2.42 in my available funds from the dividends to purchase $10.00 in WMT. That $10.00 purchased me 0.1319 shares of WMT; not much but it's something.
This purchase will be in addition to my other purchases I planned for the week, which I will detail in a separate posting. I’m hoping that snowball keeps growing with small purchases like these!
Congratulations on starting your journey. I too started very small at around your age. Slow but steady has worked out good for me. It's exciting to watch those small dividends increase over time. Pretty soon you will be earning dividends on your dividends. Then it really starts to get fun. Good luck, and don't give up.
ReplyDeleteHi Connie! Thanks for the comment and words of encouragement. I really like the thought of earning dividends on dividends! Very good point, and something I'm really looking forward too. Feel free to critique or give any suggestions you may have on my journey. I plan on detailing all my investments, no matter how small at first.
ReplyDeleteIt's all about starting. Once you take that first step it all starts to snowball from there. You'll see soon enough when you have a full year under your belt how fast things can compound as you compare YOY results. Thanks for sharing.
ReplyDeleteThanks DivHut! I'm ready to see that drastic YOY change for the first few years. I'm going to keep at it that's for sure and slowly add little by little. I just checked out your recent buys on your blog.. great companies.
DeleteCongrats on starting your dividend investment journey. It's excellent to see that you're harvesting the power of DRIP as well.
ReplyDeleteThanks for commenting. I'm trying to get this thing going, so the DRIP is small but I'll keep at it and continue to grow.
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