One more little step

The library finally got copies of Derek Foster’s new book, The Lazy Investor and I went and picked one up today and read it. It’s a quick and easy read, although it did have some filler cliche quotes and stuff that I just skimmed over. But overall, I found the information helpful for an absolute beginner like myself. I’m now determined to get a hold of a share and get started with DRIPs and SPPs. I’m so glad that The Lazy Investor has a step by step guide on how to set up a DRIP, because when I’d looked into it before I just got very confused and didn’t know how to start.

I’d say The Lazy Investor is a great guide for someone who is interested in dividend investing but is just starting out and doesn’t have much money. I loved Derek’s first book, Stop Working, but I’ve struggled with just exactly how to get started. I figured I would have to start with mutual funds until I got enough cash built up to make buying individual stocks an option. That’s when The Lazy Investor comes in and gives you another option for getting started: DRIPs and SSPs.

I’m still in the middle of reading The Four Pillars of Investing. That’s going along ok, but it’s not as breezy a read as The Lazy Investor for sure. But funny enough, from what I’ve read so far in The Four Pillars of Investing, it actually made me not want to invest in individual stocks at all (be a chimpanzee throwing darts as Bernstein puts it) and just leave my money in an index fund. Since I’ve already set the ball rolling to open an eSeries account with TD I guess for now my strategy will be a mix of index fund and DRIPs.

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2 Responses to “One more little step”


  1. 1 FourPillars November 13, 2007 at 9:56 pm

    Interesting post – you’ve come across a conundrum of conflicting good information… I agree that investing in Canadian div stocks is a good idea and I also agree with Bernstein.

    I would suggest doing both – get into a drip program or two and also get into TD efunds as well. Not a bad way to start. If eventually you wanted to go 100% divs or 100% etfs then you can always make the changes at that time.

    Mike

  2. 2 centsprout November 14, 2007 at 10:51 am

    Thanks for the comment. They may have differing opinions on investing, but one thing they do seem to agree on is that mutual funds aren’t such a great deal.


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