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re: Blue Chip Dividend Stocks
Posted on 7/14/15 at 6:24 pm to OleWarSkuleAlum
Posted on 7/14/15 at 6:24 pm to OleWarSkuleAlum
many large blue chip companies have plans where you can buy stock directly from them, I know XOM and JNJ have it. You can set up drip accounts through them. It's relatively easy, just do the initial paperwork and then send them money every month, no commission fee.
that'd be the cheapest way to go.
dude, transfer this to a vanguard fund
that'd be the cheapest way to go.
quote:
In my Roth IRA I have around $40k in a life cycle fund that I am interested in dropping due to the exorbitant expense ratio.
dude, transfer this to a vanguard fund
2
Posted on 7/14/15 at 7:10 pm to white perch
quote:
many large blue chip companies have plans where you can buy stock directly from them, I know XOM and JNJ have it. You can set up drip accounts through them. It's relatively easy, just do the initial paperwork and then send them money every month, no commission fee.
that'd be the cheapest way to go.
I have that right now with a position in Microsoft around $6k only. I believe it's called "book shares." They do collect a management fee for that account however. I'm unsure of the exact percentage.
I guess I should have qualified the exorbitant expense ratio on the life cycle fund to be 0.92%.
Posted on 7/15/15 at 7:24 am to white perch
quote:
many large blue chip companies have plans where you can buy stock directly from them, I know XOM and JNJ have it. You can set up drip accounts through them. It's relatively easy, just do the initial paperwork and then send them money every month, no commission fee.
that'd be the cheapest way to go.
But many of them (if not all) still use a third party such as Wells Fargo, Computershare, and New York Bank Mellon, correct?
This is what you'll find:
Some companies are completely free to buy
Some will charge a fee for every automatic transaction (usually just $1)
and
The companies that charge a per transaction fee also charge a per share fee. Usually .01 or .02 per share bought. (F, CVX, and KO come to mind)
Dividends
some charge a reinvestment fee. Some do not.
For energy, XOM and COP are the cheapest. I don't think they charge any fees, anywhere. CVX is more expensive to buy. You'll just have to check each companies direct stock purchase plan.
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