Have you ever noticed when ordering food at a restaurant, that
you encounter many different kinds of servers? Some will simply ask
for your order and write it down (fairly straight forward). Others
may not even write anything down (impressive, but I really want my
custom order right the first time). Finally, we have the server who
writes down the order and then
reads the entire thing back to you to confirm.
Which one do you think makes me feel the most secure about what I
Obviously, the person who repeats my order back to me is my
favorite. The process may take a bit longer, but will probably also
be the most accurate.
Similarly, some may say that dividend stocks take a little
longer to produce big results. Superior results take time, however.
Compound interest doesn't work overnight, but it will certainly
help make you financially secure over time. Just like placing an
order for your favorite dish and having the order read back to you,
buying high-quality dividend stocks should instill confidence that
your order will pay off.
Just so I got this right, let me repeat your order back to you.
You want investment ideas that produce income, grow their payouts
consistently, give you the results you expected when you came
aboard, and also, put you in control of your financial destiny.
Sounds great! Sit tight, be patient, and you'll be happy when the
returns are served.
Quarterly Reports - For Your Family?
Can you imagine if families took it upon themselves to file a
quarterly report? Even if the report was as simple as writing down
basic spending, saving, and investing habits, the exercise would
certainly help improve your finances over time.
It's not a job anyone looks forward to, but implementing a
system of financial accountability is extremely beneficial. I often
talk about having balance in our lives, which means occasional
sacrifice in order to maximize savings.
Financial health is similar to having a good diet. Many experts
now advocate a "cheat day" each week, where you can eat whatever
you want. All the other days, you eat an extremely healthy diet.
The benefits of a cheat day are numerous, but perhaps most
importantly, the cheat day allows dieters to indulge in some
unhealthy foods once in a while. This practice increases the odds
a person will stick to the overall diet. Similarly, the
occasional splurge on a luxury item can help keep a person on the
right track financially.
The more you can regularly schedule your family's financial
check-ups, the better. Once you automate the task of saving and
investing your income, for example, the easier the other tasks
become. If you're ambitious enough, why not come up with a
quarterly report? You can even set guidance for each quarter and
see how well you wind up performing relative to your expectations.
Miss estimates one quarter and you might have to adjust your
Go Beyond This Newsletter
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An Important Note Regarding the Best Dividend Stocks List
We want to make sure everyone understands that the stocks on our
Best Dividend Stocks List
are the names we currently like for new investor capital,
regardless of what date the stock was first recommended on. If and
when a stock is removed from the list, we will clearly state
whether the stock should be sold (which is rare but occasionally
will happen), or simply held in one's account until we see a better
entry point or catalyst.
And here's one last thing to remember about what we do here at
Dividend.com. It's not just the names that we recommend that can
help you build wealth, but also the things we try to steer you away
from that are just as important. Forget about speculative or penny
stocks, chasing unprofitable IPOs, and listening to the manic
talking heads in the business media!
Thank you for sharing part of your weekend with me, and please
be sure to pass this post on to anyone you think we can get
inspired and educated about money, building wealth, and using
common sense to do so.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here