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Dominion Resources, Inc. Message Board

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  • carciofo60 carciofo60 Oct 26, 2011 7:46 PM Flag

    who is putting new money into D

    I too am a long term investor. D is a great company. Over the years, I've been able to accumulate a significant position in this utility stock. Since 1984, I've consistently (never missed a month) contributed monthly to my Dominion Resources stock purchase plan and have invested 100% of the dividends each quarter. Today, I am retired and fortunate enough to be able to continue this investment strategy. Trust me, it works!

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    • Great !...however, if D had an IRA DRIP, then you could do the same thing tax free (until withdrawal of course)

    • carciofo60

      I trust you, plus from first hand experience I also know it works.

      It is interesting how the magic of compounding, compounding, compounding, works. Nothing like it! Everyone should learn the rule of 72 and the concept of compounding.

      Just as an example if you saved 1 penny and doubled it every day you would have
      $ 1 Million dollars in 30 days. Now I understand that is not realistic, but it shows the power of compounding over time.

      Best of luck,
      Jim

 
D
78.51+0.91(+1.17%)Jul 22 4:00 PMEDT