Question of the Day on "I’m in my forties and am just getting started in building up retirement assets outside of my 401(k) at work. I don’t have enough to hire an investment manager, but I like the idea of owning dividend paying stocks. Do you have any advice for us beginners?"

Answer:  Many of the companies that you want to own have Dividend Reinvestment Plans (DRIPs) in which you can accumulate shares with monthly purchases. You can find these by going to the company’s website, usually under “Investor Services.” 

You can set the plan up where you add the same amount each month and the company buys shares for you. It is a great way to accumulate wealth because it is on autopilot. I suggest if you can, that you consider doing this with at least five different companies in five different industries. 

To locate experts in your state who can help you with these elder care financial matters, go to: – America’s online source for elder care experts plus information & answers about a wide range of elder care matters.

Philip C. Benedict, CFP
Benedict Financial Advisors, Inc.
Atlanta, Georgia  30328
Member of the national ElderCare Matters Alliance, Georgia chapter

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