02-04-2015, 11:07 AM
DRILL,
DRIPs can be a good way to build wealth, and I have used it in the past. But I decided to cancel it as it was just too much of a hassle that I couldnt bother with. I wrote a post capturing the pros and cons (sorry for the shameless plug).
http://roadmap2retire.com/2014/01/to-dri...t-to-drip/
The annoying part for me was that there was no control over the prices. If I saw a dip and wanted to add shares, I would have to mail a cheque which would take days and by that time, the stock price would recover. Also, I started DRIPping in BNS who then removed their 2% discount, which was an attractive option for me to begin with. I cancelled my drip and invest using my discount brokerage.
Loyal3 sounds like a great way to build wealth with small contributions. I know a lot of DGIs that use it, but since its not available here in Canada, I dont have any first hand experience with them. Ive also seen some ppl use Sharebuilder. Again, I dont have first hand experience, but something to look into.
Best wishes
DRIPs can be a good way to build wealth, and I have used it in the past. But I decided to cancel it as it was just too much of a hassle that I couldnt bother with. I wrote a post capturing the pros and cons (sorry for the shameless plug).
http://roadmap2retire.com/2014/01/to-dri...t-to-drip/
The annoying part for me was that there was no control over the prices. If I saw a dip and wanted to add shares, I would have to mail a cheque which would take days and by that time, the stock price would recover. Also, I started DRIPping in BNS who then removed their 2% discount, which was an attractive option for me to begin with. I cancelled my drip and invest using my discount brokerage.
Loyal3 sounds like a great way to build wealth with small contributions. I know a lot of DGIs that use it, but since its not available here in Canada, I dont have any first hand experience with them. Ive also seen some ppl use Sharebuilder. Again, I dont have first hand experience, but something to look into.
Best wishes