The Stock Market Is Huge
My goal is to use the M 1 Finance app to build a portfolio of stocks that pay dividends. This type of investing is using earned income to build an asset that earns passive or residual income. The first step is to find dividend paying stocks that pay a good dividend with a high enough yield to make it worth the time and effort it will take to get it up and working.
Finding Good Information On Stocks
The internet is full of websites that offer information on the companies that make up the stock market. The trick is finding the good websites that offer good information on the companies that pay a good dividend. Must of the websites are just wanting to get your email address so they can try to sell you something. Every industry has those sites that are just trying to build their email list so they can fill your email box with tons of spam emails.
The Dividend Aristocrats
One of the first things I learned is that there are 57 companies that are called the dividend aristocrats that have paid and dividend for over 25 years in a row. These companies have also raised their dividend every year for those 25 years. I decided that these are the type of companies that I will start investing money into. In my opinion choosing companies that have a long history of paying and raising their dividends is the right type of companies to invest my earned income into.
I Picked 3 Companies To Start Investing
I picked 3 of the dividend aristocrats to start my dividend investing journey.
AT&T is the first company I picked, I bought 9 shares so far.
Leggett & Platt Incorporated is the second company, I have bought 6 shares so far.
Exxon Mobil Corporation is the third company, I have bought 2 shares so far.
All of these companies have been paying and raising their dividends for over 25 years. By picking these companies I will be earning dividends every month because they pay out on different months of each quarter. They all have over a 4 percent dividend yield.
I found a cool website called Sure Dividend that has tons of information for investors who want to research the dividend aristocrats.
If you want to start using the M1Finance app to build a dividend portfolio here is a link to signup and you will get 10 dollars to start out with.
This is a screen shot of what my portfolio looks like today, I will add screen shots with details on dividends earned as they come in and as I buy more shares.
The M1Finance app is free to use and if you sign up you will receive 10 dollars to start buy your first investment. Click the link to check it out.