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Ideas for Income Investors. High Dividend Stocks, Mutual Funds etc.
7 Dividend Growth Stocks That Could Make You Wealthy
Posted by: Dividends4Life (IP Logged)
Date: January 1, 2014 04:58PM
It seems the older I get the more I fight with my weight. I know how to lose weight - I have done it several times. The formula is not difficult, eat less and exercise more. My problem, like many others, is in the implementation. In much the same way, the formula to building wealth is rather simple - spend less than you earn and invest the difference. Once again implementation is where many people come up short. With the right focus and some positive feedback, building wealth can be much easier than shedding the spare tire around your mid-section. Here's how to do it...
Fad Diets and Fad Investing Plans Rarely Work
Forget about those 'Make 534% On Every Trade' ads that you see on some financial websites. Real wealth is built with sweat equity and a sound financial plan. The only people making money off fad investments are the people selling them. To understand what will and will not work in the future you must understand the concepts that have worked in the past. Granted, each success story is different, but there are common traits as Philip E. Humbert noted when he studied successful people and came up with the "Top 10 Traits of Highly Successful People." Here are 3 traits that we can apply to our investments:
1. Highly successful people work hard
They get up early, rarely complain. They expect high performance from others, but they expect extraordinary performance from themselves. Success starts with a recognition that hard work pays off. Highly successful investors don't waste time trying to find an quick and easy way to get rich in the stock market.
2. Highly successful people are self-reliant and take responsibility
How many times have you heard, 'I am fat because of my genes, my thyroid, my wife, my husband, ...' Or how many times have you heard, 'I am broke because, I don't make enough (my boss' fault), things are so expensive (companies' fault), Social Security will fund for my retirement, ...'
3. Highly successful people "look over the horizon" to see the future
We live in a society of instant gratification. There is no planning for the future and certainly no foresight what the future will bring. A successful retirement just doesn't happen - it is build with a plan over many decades.
Dividend Stocks To Help Grow Your Wealth
A long-term buy-and-hold investing approach focusing on quality dividend growth stocks has has provided the means for many investors to enjoy a comfortable retirement. If you start early enough, you will go beyond a comfortable retirement into the realm of building long-term wealth. For starters, you might consider these dividend stocks that have been rewarding their investors with growing dividends for 55 or more consecutive years:
If losing weight and building wealth were easy, there wouldn't be people wanting to sell you the secret. Notice there aren't any seminars on how to yawn (though several accounting seminars have caused me to do it.) The first step toward success is deciding to take responsibility for our future. With a little planning, effort and the right dividend growth stocks, we can be well on our way to creating long-term wealth.
Stocks Discussed: MMM, EMR, GPC, AWR, PG, DBD, NWN,