07-06-2014, 01:41 PM
Great advice in this thread so far. I'd just add to be patient with all of it, Robert. Many of us are in a similar boat. Between my job and family, I'm surprised I find time for it at all. But it is truly cumulative, so as your knowledge and experience base grows, it gets easier and easier to just add incrementally. Eventually, you'll get comfortable enough with the tracking and monitoring system that you settle on that it will not be burdensome.
I monitor about 30 stocks at the moment. Each one takes quite a bit of time to get launched, but once that work is done, updating it every now and again isn't that hard or time-consuming. And of course some I monitor much more frequently / closely than others. I've got all the JNJ I'm going to have for a good long time (except for reinvestment). So I spend very little time on it.
All that said, I'm sure that I've missed some good opportunities because I haven't had the time to spend researching or developing a strategy. But, such is life.
I've said several times that if I didn't have the responsibilities of a family or job, I might be a pure value investor instead of a dividend growth guy. But I think DG is a forgiving strategy that doesn't require nearly the effort or knowledge that some other strategies do.
Anyway, hang in there and take it a bit at a time. With an hour a day, you can manage more than you'd think.
I monitor about 30 stocks at the moment. Each one takes quite a bit of time to get launched, but once that work is done, updating it every now and again isn't that hard or time-consuming. And of course some I monitor much more frequently / closely than others. I've got all the JNJ I'm going to have for a good long time (except for reinvestment). So I spend very little time on it.
All that said, I'm sure that I've missed some good opportunities because I haven't had the time to spend researching or developing a strategy. But, such is life.
I've said several times that if I didn't have the responsibilities of a family or job, I might be a pure value investor instead of a dividend growth guy. But I think DG is a forgiving strategy that doesn't require nearly the effort or knowledge that some other strategies do.
Anyway, hang in there and take it a bit at a time. With an hour a day, you can manage more than you'd think.