1989: Simplify Your Investing: An Introduction to DRIPs by Sara of Get Rich Slowly

Optimal Finance Daily - Financial Independence and Money Advice

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Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 9 August 2022

⏱️ 10 minutes

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Summary

Sara with Get Rich Slowly talks about how to simplify your investing Episode 1989: Simplify Your Investing: An Introduction to DRIPs by Sara of Get Rich Slowly J.D. Roth has been reading and writing about personal finance for a decade. Today he’s financially independent, but ten years ago, his money life was a disaster, with over $35,000 in consumer debt. He started turning everything around in 2004. By being the boss of your own life, you, too, can be the master of your own financial fate. The original post is located here: https://www.getrichslowly.org/simplify-your-investing-an-introduction-to-drips/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily Episode 1989.
0:04.8	Simplify your investing in introduction to drips by Sarah with GetRitchSlowly.org
0:12.0	and I'm your host and personal finance enthusiast, Diana Mariam.
0:16.5	Now let's get right to today's post and start optimizing your life.
0:25.2	Simplify your investing in introduction to drips by Sarah with GetRitchSlowly.org
0:33.0	I'm a simple girl and I love simple solutions.
0:37.0	That's why I've fallen in love with drip investing.
0:40.2	It's about as simple as investing gets.
0:42.8	If you're an investor who likes to set it and forget it, drips are a great weapon to
0:47.3	have in your financial arsenal.
0:50.4	What is a drip?
0:52.5	The term drip refers to dividend reinvestment program.
0:57.2	Don't let the term fool you though, because drips go way beyond dividends.
1:01.6	Essentially, when you open a drip account with a company, they're letting you buy stock
1:05.7	directly, cutting the brokerage firm out of the picture.
1:09.7	This lets you buy additional stock with any dividends you earn, all without brokerage
1:14.1	firms taking a bite of your profit.
1:16.9	The real beauty comes from the added perks of setting up a drip account.
1:21.4	Many companies that offer drips will also allow you to buy extra shares directly, again
1:26.3	cutting out the middleman.
1:28.0	Typically, you'll need to set up a reoccurring transaction to get this benefit.
1:33.0	In other words, you arrange to buy a certain dollar amount of stock each month or quarter
	...

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