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What is the best way to start purchasing dividend stocks?
Posted on 7/22/17 at 8:58 am
Posted on 7/22/17 at 8:58 am
I currently have a company 401k, but want to start buying and holding dividend stocks. I want to take money each month and save it versus wasting it on something stupid. I read the stickied thread, but wanted to see if anyone has other ideas on what type of account to open.
5
Posted on 7/22/17 at 9:12 am to LSUSUPERSTAR
If you are insisting on buying individual stocks, you need to open a brokerage account.
Keep in mind that the choice of provider is mostly based on which mutual fund/ETFs you are most likely to want, as there are typically no commissions for buying those "in house"
One outside of the box suggestion is that if your capital inflows aren't enough to easily get diversification, look into capital ones share builder. Not only can you buy partial shares of stock, you can set up an investment plan which will autobuy a list of stocks at a predetermined ratio, which is a handy and uncommon feature.
ETA: now it is called capital one investing
Keep in mind that the choice of provider is mostly based on which mutual fund/ETFs you are most likely to want, as there are typically no commissions for buying those "in house"
One outside of the box suggestion is that if your capital inflows aren't enough to easily get diversification, look into capital ones share builder. Not only can you buy partial shares of stock, you can set up an investment plan which will autobuy a list of stocks at a predetermined ratio, which is a handy and uncommon feature.
ETA: now it is called capital one investing
This post was edited on 7/22/17 at 9:48 am
Posted on 7/22/17 at 9:20 am to Volvagia
Thanks, I'll check that out.
Posted on 7/22/17 at 1:15 pm to LSUSUPERSTAR
Open a Robinhood account with your phone.
Commission free trades
Commission free trades
Posted on 7/22/17 at 4:49 pm to iAmBatman
That's what I do as well. Have a vanguard fund for the 401k. Use Roth IRA as well especially for any foreign stocks where it helps keep more of the dividend from foreign tax withholdings
Posted on 7/22/17 at 10:17 pm to Volvagia
I've been using Sharebuilder for years. It's a great simple platform. Integrates well if you use Capital One bank or Capital One 360 (old ING Direct).
$4 trades when auto invested. Only does the auto trades on Tuesdays, but can buy partial shares. Only $6 trades otherwise as well. All dividends reinvested for free.
$4 trades when auto invested. Only does the auto trades on Tuesdays, but can buy partial shares. Only $6 trades otherwise as well. All dividends reinvested for free.
Posted on 7/22/17 at 11:26 pm to LSUSUPERSTAR
TD Ameritrade charges $6.95 per trade, but $0 for reinvesting your dividends.
Posted on 7/23/17 at 3:07 pm to iAmBatman
I am really liking what Robinhood offers.
I'll suggest that
Capital One Investing/Sharebuilder is better for passive investors, those looking to put a small amount in regular frequency into a set number of stocks in a buy and hold stategy.
Robinhood is more for the active investor, although their easy access to margin seems very interesting. Their biggest weakness is the inability to DRIP, but if you are active, you care about that a lot less.
I'll suggest that
Capital One Investing/Sharebuilder is better for passive investors, those looking to put a small amount in regular frequency into a set number of stocks in a buy and hold stategy.
Robinhood is more for the active investor, although their easy access to margin seems very interesting. Their biggest weakness is the inability to DRIP, but if you are active, you care about that a lot less.
This post was edited on 7/23/17 at 3:08 pm
Posted on 7/23/17 at 4:49 pm to Volvagia
So if I wanted to use Computershare to purchase AT&T on a set amount per month basis here are the fees:
Is the ongoing auto invest. fee monthly? What about the purchase processing fee? Will that only be charged if I deposit enough each month to purchase one share?
quote:
Initial Setup Fee $10.00
Cash Purchase Fee $5.00
Ongoing Automatic Investment Fee $2.50
Purchase Processing Fee (per share) $0.05
Dividend Reinvestment Fee 5% of amount reinvested up to a maximum of $3.00 plus $.10 purchase processing fee (per share) Batch Sales Fee $10.00
Batch Sales Processing Fee (per share) $0.10
Batch Maximum Sales Fee N/A
Market Order Sales Fee $20.00
Market Order Processing Fee (per share) $0.10
Market Order Maximum Sales Fee N/A
Is the ongoing auto invest. fee monthly? What about the purchase processing fee? Will that only be charged if I deposit enough each month to purchase one share?
Posted on 7/23/17 at 4:57 pm to LSUSUPERSTAR
Run, do not walk, from that fee structure.
This post was edited on 7/23/17 at 6:23 pm
Posted on 7/23/17 at 5:53 pm to Volvagia
Yeah, wtf?
Posted on 7/23/17 at 8:45 pm to leoj
Open up a schwab account.
Buy SCHD monthly and have the dividends reinvested.
SCHD is schwabs dividend etf. It's commission free as are dividend reinvests.
Buy SCHD monthly and have the dividends reinvested.
SCHD is schwabs dividend etf. It's commission free as are dividend reinvests.
Posted on 7/23/17 at 10:41 pm to Volvagia
I was posting that to make sure I was understanding how they are assessing fees.
Posted on 7/23/17 at 11:14 pm to LSUSUPERSTAR
Doesn't matter.
The second I see anything about charging you a percentage on the DRIP, on top of charging twice the per unit rate to buy a stock yourself, I was all like:
The nickel and diming EVERYWHERE is just icing on the cake.
The second I see anything about charging you a percentage on the DRIP, on top of charging twice the per unit rate to buy a stock yourself, I was all like:
The nickel and diming EVERYWHERE is just icing on the cake.
Posted on 7/25/17 at 8:41 am to LSUSUPERSTAR
I want to start purchasing some dividend stocks for my niece and nephew, is there any reasonable way to set them up an account without starting with $1000 plus?
I use etrade but I'm not sure if I can just add an account in someone else's name. I looked into just buying them shares but it is a rip off.
I use etrade but I'm not sure if I can just add an account in someone else's name. I looked into just buying them shares but it is a rip off.
Posted on 7/25/17 at 10:04 am to LSUSUPERSTAR
Who do you bank with? It's possible your bank has a brokerage division, and you may qualify for free trading.
Wells Fargo's brokerage platform is pretty bare bones, but I think with $50k combined balance you get free trades.
Bank of America's subsidiary is Merrill lynch, and the basic platform is Merrill edge, which I really like, and they have a threshold for free trades as well. I believe if you don't qualify for the free trades, it's only like $7/trade.
Chase sucks they only want you to invest in their funds.
Wells Fargo's brokerage platform is pretty bare bones, but I think with $50k combined balance you get free trades.
Bank of America's subsidiary is Merrill lynch, and the basic platform is Merrill edge, which I really like, and they have a threshold for free trades as well. I believe if you don't qualify for the free trades, it's only like $7/trade.
Chase sucks they only want you to invest in their funds.
Posted on 7/25/17 at 2:24 pm to Creamer
quote:
I want to start purchasing some dividend stocks for my niece and nephew, is there any reasonable way to set them up an account without starting with $1000 plus?
As mentioned above -- Capital One Share Builder is as painless as I've ever seen.
EDIT: Here's a link. capitaloneinvesting.com
This post was edited on 7/25/17 at 2:26 pm
Posted on 11/20/17 at 8:27 am to LSUSUPERSTAR
that fee structure is in part due to what T places on its direct stock purchases.
If you search through Computershare, and look at XOM, for example, it's actually a decent deal. Exxon charges very few fees. Some are worth it for passive investors, others aren't.
If you search through Computershare, and look at XOM, for example, it's actually a decent deal. Exxon charges very few fees. Some are worth it for passive investors, others aren't.
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