DRIP Success Stories
Compound interest is the eighth wonder of the world. He who understands it, earns itâ€¦..he who doesn't, pays it.
It's always motivating to read stories of average, ordinary people who become wealthy by doing simple things that anyone else could do. Below are profiles of people who implemented long-term investment strategies to become extremely wealthy.
What is most exciting about these individuals is that they achieved these results by investing their hard -earned dollars in a way that can be replicated by anyone with the appropriate mindset. Each of these successful dividend investors approached investing with a long-term mindset. One that centered on buying stock in solid companies, reinvesting dividends, and compounding returns over time.
It takes patience and persistence, but as these profiles prove, DRIP investing works.
At FirstShare, we want to be your partner in your journey to financial independence. We've helped enroll thousands of investors, of all backgrounds, in many of the best dividend reinvestment plans available. We challenge you to get started today.
lived a relatively simple life. She began working as a secretary at Abbott Labs in 1931, and worked there for 43 years. In 1935, she paid $180 for three shares of Abbott Labs (ABT) stock, and never sold a share.
Upon her death in 2010, the investment had grown to be worth $7 million, most of which was left to her alma mater â€“ Lake Forest College. Her attorney noted that the stock had split many times over the decades, and she had reinvested her dividends.
ABT offer a solid, no-fee DRIP plan. More info â€º
was a World War II veteran. After the war, he worked as a gas station attendant, and as a part-time janitor at JC Penney. He never made a six-figure salary.
Mr. Read invested in companies that he understood, held onto the stocks for the long haul, and reinvested his dividends. Upon his death in 2014, his portfolio was worth $8 million. He had large stakes in Johnson & Johnson, Procter & Gamble, Dow Chemical and General Electric, among others.
Many of Mr. Read's favorite stocks are available through FirstShare â€º
was an auditor for the IRS who never earned more than $4,000 per year. At the age of 51, Anne retired with a $5,000 lump sum payout and an annual pension of $3,100. She spent her post-retirement years studying the stock market and managing her own money. Her â€œbuy and holdâ€, dividend reinvesting investment philosophy was not unlike the one championed here at FirstShare.
Anne invested in well-known, dividend-paying companies
At the time of her death in 1995, Anne's investment portfolio was worth $22 million