re: Buying stock long term

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So I guess with this strategy is to target some of the higher %dividend yield across multiple sectors to have a little diversification?

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Yeah pretty much. You can recognize many solid companies by name alone. What can people not do without?
Proctor&Gamble for one.

Also check this out: dividendmantra.com

Many will tell you to invest in a dividend distributing ETF...but I'd rather get 8-10 solid dividends every quarter instead of 1 or 2. Thats just me.

The most challenging part can be finding out HOW to buy your first share of stock. For a direct reinvestment plan the stock must be in YOUR name, not your brokers.
Three sites for this are first share, direct investing, and Computershare.

Advantages of this method are the ability to purchase as little as $10 or $25 of stock monthly. If you want to invest $150 into XOM you can actually buy partial shares, so none of your investment is wasted. NONE

The drawback is that you really have no choice regarding the actual share price at time of purchase, but to me thats not really a negative If you know you plan on contributing $200/month for 20 years.

Lastly, the EASIEST way to invest is through Loyal3. This site has a limited number of solid blue chips, but they do have a few on the DOW.

Through Loyal you can purchase $10,25, or $50 with a credit card and there are absolutely NO fees. Coca Cola, Unilever, and Intel are decent dividend stocks that are available at Loyal3.