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Which Strategy For Loyal3 Account?
Posted on 7/6/14 at 4:21 pm
Posted on 7/6/14 at 4:21 pm
I currently have a 401k which will probably be my largest retirement account and I invest 90% in a low expense S&P 500 index fund. I have a TDAmeritrade account that I use to trade with and try to get rich. I have an IRA that I am thinking about using to buy dividend producing stocks. I just setup an account with Loyal3 and I will be depositing about $200 a month. I will use the account to buy and hold but I'm not sure what my strategy for the account should be. Should I use the Loyal3 account to buy dividend producing socks like Coke, Pepsi, Unilever, McDonald's, etc. and have another strategy for my IRA? Or, should is use the Loyal3 account to buy stocks like Amazon, Apple, Google, etc. that I think will do well in the long run and I would normally never buy them in any of my other accounts and keep the dividend plan with the IRA?
This post was edited on 7/6/14 at 4:22 pm
2
Posted on 7/6/14 at 5:08 pm to bogart
Both strategies sound good. I for one will be using Loyal3 to buy Unilever, Target, Intel etc. (dividend companies)...
I do not think that Loyal3 automatically reinvests dividends. They're just added to your account. That might be something to consider.
I do not think that Loyal3 automatically reinvests dividends. They're just added to your account. That might be something to consider.
Posted on 7/6/14 at 5:27 pm to bogart
You shouldn't be splitting out strategies between accounts as much as you should consider what % of your assets are in which strategy. To me, it sounds like you're doing too much between your trading and dividend strategies and you probably don't have the time to properly research all of these companies your discussing. Why don't you look at a dividend growth ETF like VIG for your dividend strategy, buy a growth or technology ETF for your new account, and just call it a day? Save some money on commissions and diversify away some security specific risk.
Posted on 7/6/14 at 5:35 pm to Chris Farley
The Loyal3 account only has 55 companies that you can buy stock in and the trades are free. That really limits what you can do with it.
Posted on 7/6/14 at 5:45 pm to bogart
And they don't reinvest dividends? Sounds like more hassle than its worth just to save a few bucks on commissions.
Posted on 7/6/14 at 6:09 pm to Chris Farley
If you only have an extra $50 or $100 after Roth contributions it's nice to be able to buy partial shares of a solid dividend stock.
That's why I use it.
That's why I use it.
Posted on 7/6/14 at 6:55 pm to bayoubengals88
I do this in my Sharebuilder account for only $4/trade. If you want to limit commissions more, you can deposit monthly and trade only when a set balance is reached.
I can buy nearly any stock/ETF for practically nothing. You can also usually find a code for a free trades.
I can buy nearly any stock/ETF for practically nothing. You can also usually find a code for a free trades.
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