Years ago my father invested in what I call 'moose pasture stocks'-companies that go out in Northern Ontario and stake a claim in the pasture because of rumours that there's gold nearby-but there really isn't anything there. Their investments always seemed to be losing money, and I decided there must be a better way. So I made up an imaginary portfolio to practice with and I eventually discovered dividend stocks. Now I have a real portfolio that's worth $2.3 million.
If you're getting into dividend investing and you don't need the income right away, you should use a Dividend Re-Investing Plan, or DRIP, which automatically reinvests your dividends for you. Some companies actually sell you their stock at a lower price if you use one. A DRIP is especially good in an RRSP. I've been overjoyed with my results from dividend investing so far. In fact, we've done so well, we can't spend it all-so when we're gone, all of our money is going to be left to children's charities.
Source: MSN
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