I have been so wrapped up being a retired old guy that I have forgotten that so many folks are just now beginning a retirement portfolio, even in a tumultuous market. You have time on your side, want to invest in dividend growth stocks and seek a more secure income stream for retirement. Since I've been there, I know I needed all the suggestions I could get, so let me give my suggestions to you!
The Basics
- Save as much as you can for as long as you can, as soon as you can.
- Always spend less than you have coming in, forever.
- Have a case cushion to get you through the really bad times.
- Consider dividend growth investing to build a reliable income stream for a lifetime.
- Focus on quality blue-chip stocks that have an elite history of paying and increasing their dividend payments year after year for decades.
- Ignore the share price fluctuations and focus on the income.
- Hold those great stocks as long as they keep paying you and give you increases.
- Time in the market rather than timing the market will allow the magic of compounding to work.
- Know your risk tolerance level and your goal before investing a dime.
- There is nothing risk-free, and continual due diligence is a must.
- It is not that tough but it does take focus and discipline.
- Never ever panic.
These are the simple basics I have lived by. Obviously you need to start somewhere, so let me offer the first foundation building stock that is selling at a reasonable price right now and that can launch your journey in a positive direction.
