I have successfully completed parts 1 and 2, but I am having difficultly with part number 3. So far I have not been able to form a group and duplicate.
Below is a Snap Shot of my Account at Options Xpress as of Today
In May I was able to purchase 1 share of Microsoft, and 5 shares of ARR. This created a month income from dividends of 60 cent. In June I purchased 7 more share of ARR which increased my dividend income from 60 cent to $1.44. The dividend income was automatically re-invested into a dividend re-investment program (a.k.a "DRIP".) The DRIP purchased .2 shares of ARR giving me a total of 12.2 shares of the stock. This Also increased my monthly dividend income from 1.44 to 1.45. Even though it was just a one penny increase I was encouraged to know that it was working.
In July I purchased 5 more shares of ARR. I have now acquired 17.2 shares of the stock. My dividend income has now increased from $1.45 up to $2.04. If I can get the income above $2.56 I will have taken out target 9 of my 20 step plan.
The hardest part about investing is dealing with commissions. Every time I purchase a stock a 10 dollar commission is paid. So far I have made 4 purchases, and, I have lost 40 dollars in commission transactions. In order to overcome the challenge of dealing with the commissions, I will have to complete step 11 of my 20 step plan. At that time I will covering the commission cost through dividends.
This is slow, but it is working.
