What investing a day looks like with dividend stocks. If you guys are new here, I like to talk about investing. A lot of people don’t know where to start. So today I’m going to give you a realistic approach of where to begin and what’s achievable. I like dividend investing myself because it’s super passive and you don’t have to maintain it or know how to run a business to start. The great thing about this is that you don’t have to initially put in thousands of dollars in hope to see if the business will be profitable or not. And that’s super risky when typically, a majority of new business fail within two year.
But this is not the case with companies that is already paying dividends. So, I want to show you a realistic approach how you can make your money work for you by investing a day. If you can just cut going out 2 times a week or stop drinking your regular Starbucks drink every day, you’ll make your money back in the future and you can even treat yourself to something even better.
So, let’s run some numbers real quick. a day. And for the sake of simplicity let say a month has 30 days. times 30 is 0 a month. That should be realistic right and it won’t cause too much trouble in your life.
Now I know there’s a lot of people and statistics that shows us that if you just invest in a broad index fund, you’ll get a yearly 7-10% return on your money, on average. But here’s the thing, let’s not try to aim for that kind of return. Let’s just be humble and shoot for a 5% yield a year.
Now we are going to use a compounding interest calculator for this. There’s a bunch of calculators you can use and the one I found was just a random one.
There’s obviously going to be some taxes but if you’re investing for the long term for retirement, you might want to use a Roth IRA to avoid taxes.
In order to open a Roth IRA you’ll first need to open a Webull Account:
Sign up for Webull for the 2 free stocks:
How To Open Up A Webull Account (Step-by-Step)
How to Easily Open a Roth IRA on Webull (Step-by-Step on Desktop)
How To Open A Roth IRA On Webull (Step-by-Step on Mobile)
How to Create a Million Dollar with a Roth IRA (1 Simple Strategy)
Now I know that this isn’t a million dollar or so for retirement and you might be dissuaded by all of this. By here’s the thing, you’re only investing a day or 0 a month. Over time you should be investing more once you make more money. This is for people who’s just starting out.
If you are interested in knowing where to find these dividend stocks check these videos out:
10 Best Dividend Paying Stocks 2020 (Dividend Kings)
How To Find High Dividend Blue Chip Stocks To Invest
My Dividend Growth Strategy (Full Breakdown)
Investing With Webull For Beginners Playlist (Tutorial on Opening Webull Account Also Inside):
Overall, I hope you are able to see how just by investing a day can have a greater impact in your future. Essentially you don’t have to work for the money, the money will work for you. If you have ,000 invested with a 5% dividend yield, you’ll basically get 500 for the year without having to sell stocks. That 0 could be your little mini vacation treat all paid for.
Legal Disclosure: I’m not a financial advisor nor a certify public accountant. These videos are for entertainment/educational purposes based off of my personal opinions. Investing in any type of investment involves risk and you need do your own research or seek out a licensed professional if necessary. There is no guarantee that you’ll gain or lose on investments.
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A lot of money can be made trading penny stocks. However, with great reward comes great risk! In this video, we’re going to look at 5 TOP ASX penny stocks for December 2020 and possibly into 2021 and determine when they are good buys.
Investing is for the long term, trading is for short to medium term. I don’t see these stocks as long term investments at this stage. Just potential setups for a good trade if we are prepared to be patient.
*Not Financial Advice – Always DYOR!*
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