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Stocks: Dividend Reinvestment Plans (DRIPs)

Many publicly held companies allow shareholders to reinvest their dividends in the company's stock as well as purchase additional shares of the stock through dividend reinvestment plans, or DRIPs. DRIPs offer an easy, low-cost way for buying common stocks and closed-end mutual funds. DRIPs are also a great way to invest a small amount each month (dollar-cost averaging). Since most of us try to set aside a little each month, this can work extraordinarily well. 

Many DRIPs will also buy back shares at any time you want to sell, in most cases for a minimal sales charge.  Yet another good use of a DRIP is to give a small amount of stock as a gift. You may not want to set up a brokerage account for your son, but you may want to give her 5 shares of Disney. You can help your son benefit from stock ownership with a DRIP account using a Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) and lets someone make additional purchases relatively easily.

There are over a thousand corporations which offer DRIPs. The list includes most well-known and respected companies, including IBM, Coca-Cola, Fannie Mae, Charles Schwab, Sears and McDonald's. The specifics of the DRIP plans vary as widely as the corporations themselves. For example, some corporations allow investors to make contributions as often as every week. While others only allow stock purchases to be made on a quarterly basis.

In order to qualify for a DRIP plan you need to already own a stock in the company you are interested in. If you don't already own a  stock in the company, the obvious step would be to take  ownership in the company. The easiest way to buy a stock is to open an account with a broker and simply purchase stock. If the stock is already owned, you must have the physical stock certificate in your possession not in a street name. If you do not, the certificate can be easily obtained from your broker with which the stock is held or from the transfer agent. With the stock certificate in hand, the next step is to open the DRIP account directly with the company. The best way to learn more about the DRIP plan you're interested in along with any share transfer requirements is to contact the company you're interested investing in and request a prospectus along with the appropriate DRIP account forms. These documents will detail the specifics on the plan.

Next-->>  Why a company would offer a DRIP
 

 
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1. Spend less than you earn! People who spend every penny they make usually end up going broke.......
2. Take enough risk on the money you save! Playing safe by putting your money under the mattress or in a savings account will not make you wealthy..

Remember that..... Fully one-fifth of humanity, some 1.3 billion people, struggles to survive on less than $1 per day. About 40% of humanity survives on less than $2 per day. More than a billion people around the world will go to bed hungry tonight. Life expectancy in some 32 countries is less than 40 years. If you have a few extra dollars in your pocket (you don't have to be a millionaire to make a difference), please share some of your financial good fortune with others who are in great need.

Think About It...  Being in the 'now' brings a freedom, unlike living in the past or in the future, which is a kind of imprisonment. This isn't a kind of a denial where you pretend life doesn't have problems. Life is full of problems, but most of those stresses and failures are reliving old hurts or worrying about future concerns. -- Carl Honore

When you 're diagnosed with cancer, you start to bargain with God: "Let me get through this, and I'll take better care of myself. I'll get my priorities in order. I'll learn to live every day to the fullest." Isn't it sad that you have to get sick before giving yourself permission to live life to the fullest? -- Robert Schimmel Look at Life in different & Positive ways