Top positive review
3 people found this helpful
Book is too late for me, but does have good ideas
on June 26, 2014
This book offers a good investment plan which differs from a lot of other books I've looked at. Basic idea is to invest in income producing equities which send you dividends. Use those dividends to start paying your monthly bills. As you eliminate paying bills from your paycheck and use dividends instead, use the money you are saving on bills from your paycheck to buy more dividend producing stocks.
Pretty good plan I think, Especially when I looked up dividend rates on several stocks. For example my public utility dividends are appx 4%. To me that stock looks about as safe as a bank account, since the company is a monopoly with a guaranteed rate of return on investment per the Public Utilities Commission regulation. And 4% is whole lot more than anything at a bank is making.
Unfortunately for me I'm too close to retirement to really use this book, however the idea of investing in high dividend stocks does give me something to mull over for my 401 allocation after I retire hopefully in 5 years.
Even if I were younger I would have to do a lot of research on if this program could work for my situation. I'm not sure how good of a deal it is to take dividends out of your 401 prior to 59 1/2 . The author always worked as a contractor so his retirement fund wouldn't be the same type as I have.