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Resources

Below is a list of resources that I currently use that have helped me along my journey:

Charles Schwab (Brokerage Account) https://www.schwab.com/
This is where I hold all of my stocks. I really love their platform and they have great customer service. Their high yield checking account offers a debit card that reimburses you for ATM fees almost everywhere in the world.  

Personal Capital (Portfolio Tracking) https://www.personalcapital.com/ 
This is a great tool that is free to use and tracks all of your accounts in one place. You can add your retirement accounts, brokerage accounts, stockpile, acorns, and even your credit cards. It has plenty of tools to allow you to see how you are doing. I highly recommend using personal capital to track your portfolio.

If you use the link above you get $20 for signing up. Again the website is completely free to use. 

Stockpile Investing (Partial Share Investing) https://www.stockpile.com/
I wanted a way to invest a small amount in non-dividend stocks that I believe are high quality stocks. I found Stockpile which allows me to do this and only charges 99 cents per trade.

I use stockpile because I can invest $100 or less at a time to buy partial shares. I did this with Amazon and Google since their share prices are so high. Also, these companies may pay a dividend in the future which would only add to their value. Otherwise I will sell them once I get close to financial freedom and re-invest in high quality dividend growth stocks. 

Acorns Investing (Partial Share Investing) https://acorns.com/
Again, this is a really easy way to invest small amounts into the market without even thinking about it. I opened this account about 2 years ago and have been putting small amounts into it each week ($5-10). This account is now worth over $2k and compounding dividends. 

The fees are only $1 a month, but grow after you reach $5,000. Once I reach $5,000 I will sell my shares and re-invest in high quality dividend growth stocks. This is a really easy way to get money into the market if you are a beginner or if you want your spare change to start earning you money. If you are in college you can start without any monthly fees!

Be sure to use my link to get $5 to start!

Seeking Alpha (Press Releases/Dividend Increases)
I use Seeking Alpha to learn about important press releases and dividend increases. To do this I add all the stocks to my portfolio and then disable all the e-mails except the daily summary e-mail. In the summary e-mail I quickly glance over the press releases section to see if any company has announced a dividend release or if there is any other major news. 

Google Finance (Portfolio Price Updates)
They have recently discontinued this service, but I'm still able to use the portfolios feature and it is a great way to quickly see how the market and my stocks are doing. It also keeps track of dividends and you can see when they are paid when your cash is updated.

Yahoo Finance (Portfolio Price updates/News/Earnings)
Since Google Finance is being discontinued, I use the Yahoo Finance App now.
You can add your portfolio to quickly see how you are doing and quickly see how the market and other stocks you are interested in are doing. 

One of the best features of the app is that it notifies you of relevant news if you have a stock in your watchlist/portfolio. They will notify you when a stock releases earnings of if there is another big announcement related to the stock. It is a very easy app to use and I recommend it for your phone. 

DRIP Investing Resource Center http://www.dripinvesting.org/Tools/Tools.asp
Loads of tools and spreadsheets dedicated to dividend growth investing. A good place to start if you are new.

David Fish’s Dividend Champions, Contenders and Challengers http://dailytradealert.com/dividend-champions-contenders-and-challengers/
This list is a summarized version of David Fish’s popular “CCC” list, which contains what he calls…
  • Dividend Champions: U.S. stocks that have grown dividends for the last 25+ consecutive years
  • Dividend Contenders: U.S. stocks that have grown dividends for the last 10-24 consecutive years
  • Dividend Challengers: U.S. stocks that have grown dividends for the last 5-9 consecutive years

 

Let me know if there are any other resources that have been helpful that I should add. 

 

3 comments:

  1. First of all I invest 15% of my income in a Roth TSP. Additionally, my strategy for the last few years has been in purchasing vanguard admiralty shares. The objective being mostly to create passive income that eventually replaces my employment income. I've been interested in also pursuing dividend growth investing through a company like Schwab but often wonder if that would be a distraction from my indexing approach. There are certainly tax disadvantages to receiving dividend income every year. Do you think that one could pursue indexing and dividend investing at the same time without being counter-productive? Any thoughts are welcome since I do believe that these are the two major schools of thought as it concerns young/middle class investing.

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    1. You're right about the tax implications being a possible disadvantage. Roth accounts are great for avoiding tax in the future, but I don't like the restrictions regarding access to your money. If I can build up a passive income stream from dividends at a much younger age (say less than 50) then I won't have to worry about any restrictions accessing that dividend income. Also, investing in individual stocks can get you larger dividend yields than most indexes.

      Also, if your only source of income is dividend income then you can make upwards of about $40k before you have to pay taxes on those dividends.

      Everyone's situation is different and I don't know yours, but it wouldn't be a bad idea to have some dividend growth stocks.

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