DRIP Too Hard Investing - Dividend Reinvestment Plans for Beginners
Channel: AJ Mobile Money
Date: 2020-02-05

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D.R.I.P. Too Hard Investing, Dividend Reinvestment Plans for Beginners. Many Millennials and newer traders who like to trade from a mobile application will use platforms like Robinhood, Webull, SoFi Invest, Firstrade, Cash App, or a Roboadvisor like Acorns or Stash Invest. One of the features currently missing from the non-Roboadvisor platforms is a Dividend Reinvestment Plan, also known as a D.R.I.P. 

Larger platforms like TD Ameritrade and E*Trade offer D.R.I.P. in the traditional sense, but don't allow you to also buy partial/fractional shares on your own. This means if you want to get into a higher priced stock, you have to wait until you are able to purchase a full share. With stocks like Apple currently at $300 per share, most Americans are unable to buy into Apple every pay period. This is one area where M1 Finance stands out!

Checkout this video to see how you can use the benefits of a D.R.I.P. but in an unconventional way! Dividend investing is one of the best Passive Income Ideas 2020. Investing in Dividend Stocks allows your stocks to help your overall portfolio grow, in addition to the rise and fall of the stock market, and your normal contributions.

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