If I only knew then what I know now. Everyone has heard that from someone at some time in their life. You may have even said it yourself. Well … we can’t go back in time, but if you could , what would you tell yourself ? One thing you should tell yourself is to start saving for your retirement. Starting as early as possible will benefit you exponentially. Waiting just a few years can cost you thousands or even tens of thousands of dollars.
For example, let’s look at a company that has been around for a while. Walgreens has been paying dividends since 1933. The dividend has been as low as .03 cents per share and as high as .32 cents per share, and that’s just in the last 13 years. Now, if you knew that the more shares you had years before when it was on its way up you would be saying to yourself "hey, I did pretty good".
You would have been reinvesting your dividends and 13 years later you’re in a pretty good position. There are a lot of stocks that have done even better than this. You find them by doing your research and using stock screeners, or talking to financial advisors that cover all aspects of finances. Don’t go to a financial person that only does one or two things.
Dividend paying stocks are best when held on to for the long haul. However, there are some people that feel comfortable selling their stock when they think it is at a high and then buying back in when it is low. But that’s another discussion for another time.
Pay into your IRA like you pay your cell phone bill or electric bill. You wouldn’t want either of these to be turned off would you? Most people can’t make it thru a day without their phone, yet they pay less into their retirement account than they do for a cell phone, electric bill, water bill, cable TV, hair cut with highlights, movies, clubbing and bars, amusement parks and car insurance.
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