It’s the stuff of dreams. I like to call it “mailbox money”. It’s not for everybody and it’s not very exciting, but man, it works. In fact it works really, really well. Here’s one guy’s story that collects $450,000 from his “mailbox”.
Retired since 1975, Harry is an experienced investor who has been able to survive and thrive from his initial investment decisions. When I see him, we talk mainly about the stock market, and how to be successful in it. During my last chat with Harry, I asked him whether he has ever sold a stock. His answer surprised me. He said, “No.”
Think about that. Here is someone who invested roughly $700,000 in a basket of stocks, and has never sold a single company he bought in the last 40 years. That is not to say he has not bought anything since 1975. He does reinvest his dividends in new companies, and due to mergers and acquisitions, he will come into new cash that he can invest. He told me this, “I have over five million people working for me right now, and they pay me 9¢ each to work for me.” He told me he is paid $450,000 in dividends from his initial investments in 1975. This is a man who literally survives primarily on his dividend income.
See the full story by Thomas Pound
Filed under: Stocks