A DRIP is the best stocking stuffer around
Help change someone's life by setting them on the path of wealth accumulation.
Anyone reading this has the potential to effect real change in people's lives. How, you ask? By introducing them to the power of investing via dividend reinvestment plans. I know this may sound a bit, well, over the top. Well, I'm not embarrassed to say that dividend reinvestment plans changed my life.
DRIPs fit my limited pocketbook -- I could buy quality stocks with amounts as little as $50 or $100. And dividend reinvesting helped put some of my investing program on autopilot.
Once I started, I wanted more. I started finding more money to put into my DRIPs. I started adding new DRIPs to my portfolio. And I started thinking about my future. And before I knew it, my life had truly changed for the better.
We are entering the holiday season, which means you will be searching for gifts for the young people in your lives. Why don't you give the gift of DRIPs? I guarantee you it is the best stocking stuffer you can give someone.
And it won't require a lot of money. The companies below allow any individual to buy the first share and every share of stock directly from the company. All of the stocks have minimum initial investments of $100 or less and rank among my favorites.
American Water Works (AWK) -- yielding 2.7 percent, minimum $100
Cincinnati Financial (CINF) -- yielding 3.2 percent, minimum $25
CVS Caremark (CVS) -- yielding 1.4 percent, minimum $100
Dominion Resources (D) -- yielding 3.4 percent, minimum $40
Domino's Pizza (DPZ) -- yielding 1.2 percent , minimum $65
Eaton (ETN) -- yielding 2.3 percent, minimum $100
Flowserve (FLS) -- yielding 0.8 percent, minimum $100
Kellogg (K) -- yielding 3.0 percent, minimum $50
New Jersey Resources (NJR) -- yielding 3.7 percent, minimum $100
Quest Diagnostics (DGX) -- yielding 2.0 percent, minimum $100
Tim Hortons (THI) -- yielding 1.7 percent, minimum $25
Interestingly, you can take initial positions in all 10 of the highlighted stocks with just $765. Now that's the type of "starter" portfolio that could end up changing the life of a loved one.
If you are new to DRIP investing, treat yourself to a few DRIPs this holiday season. Trust me, it’ll change your life.
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