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SA Forums,
So most of the long time members of the forum already know this, but for all the new members and those who are just casually passing by, here is one thing I've learned when it comes to investing:
Consistently investing in good quality blue chip stocks over time works to build wealth.
So, I've been buying as much Coca-Cola stock as I can comfortably afford over the last few years. It's usually been small transactions ($5 to $55) in my ROTH IRA account.
Here is a snippet from the transaction record:
And, as a result, I've been seeing increased dividend payments from Coke on a quarterly basis. Here they are. As you can see, it starts pretty small, but has gradually ramped up.
A LOT of America's millionaires basically did this to get their wealth. Now, granted, most of them didn't move $5 transactions or focus everything in a single company. However, the basic idea is workable, reliable and helps to build wealth over time. The only thing is that it takes decades - as long as 30 or 40 years and you have to do it consistently over time. So, it works but it's not a quick fix.
Another great example of this is forum poster SInguy's post on how he became a Tesla Millionaire. That approach is a bit different than what I'm advocating as Tesla is a more speculative stock, but it does illustrate the massive power of catching a good quality stock on the upswing over time.
So most of the long time members of the forum already know this, but for all the new members and those who are just casually passing by, here is one thing I've learned when it comes to investing:
Consistently investing in good quality blue chip stocks over time works to build wealth.
So, I've been buying as much Coca-Cola stock as I can comfortably afford over the last few years. It's usually been small transactions ($5 to $55) in my ROTH IRA account.
Here is a snippet from the transaction record:
And, as a result, I've been seeing increased dividend payments from Coke on a quarterly basis. Here they are. As you can see, it starts pretty small, but has gradually ramped up.
A LOT of America's millionaires basically did this to get their wealth. Now, granted, most of them didn't move $5 transactions or focus everything in a single company. However, the basic idea is workable, reliable and helps to build wealth over time. The only thing is that it takes decades - as long as 30 or 40 years and you have to do it consistently over time. So, it works but it's not a quick fix.
Another great example of this is forum poster SInguy's post on how he became a Tesla Millionaire. That approach is a bit different than what I'm advocating as Tesla is a more speculative stock, but it does illustrate the massive power of catching a good quality stock on the upswing over time.
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