let’s get the party started!
If you want to take investing under your control, you are looking at the right place. You will find necessary step by step cookbook here to setup everything you need and be ready to invest on your own.
If you don’t have it done already, you need to prepare your mindset first. Remember – whatever you want to achieve, you have to do some action, nobody else will do it for you. Amazing book that I highly recommend as a starting point to understand all basic principles in today’s financial world, written in popular form, is Rich Dad Poor Dad written by Robert T. Kiyosaki. He wrote many books that are also useful, but this one is MUST READ if you are a newbie in the finance world. It is easily readable and can definitely set up your mind the way you need for investing into your future.
Surely you ask “Why should I invest in dividend stocks? What the advantages and disadvantages of investing in dividend stocks are? Why is this good investment strategy?”.
First of all, you should not invest just in dividend stocks – or stocks as an investment group in general. In case of bad times on the stock market, even diversified dividend portfolio can be hurt! We don’t worry about the capital value movement, BUT many companies can either cut or not increase dividend payout during bad times.
To avoid bad times, you should have your investment portfolio diversified to the multiple groups of assets, such as properties generating income from renting, running a business in the field you really enjoy that is generating some income, and so on.
You should also hold a small position (not more than 10% of your total assets, because this investment is not generating any regular income) in precious metals to hold the value of money that can be used in very bad times as an “iron reserve”.
On this website, I strive to teach you how to build a strong dividend portfolio for ONE GOAL – to get regular passive income and to enjoy the life.