There are many ways to build wealth and one of the ways that I do is buying and holding dividend paying stocks. Before I start began talking about this post, I am not giving financial advice or telling you what you should do with your money. Please do your own research before buying anything in the stock market. Hit the market crash in march 2020, I started really investing and buying more and more stocks that pay a dividend. Yes stocks can help you build wealth over time, but my goal is to start building my own long term passive income for when I get older. Dividend paying stocks is just one tool for building wealth and the sooner you start, the sooner you will make money.
What is building wealth with dividend stocks?
In the world of stocks, the best thing that you can do is hold your stocks for a long time. The longer you hold the stock, the more equity in that company. Everyone invest in the stock market for different reasons. Some people likes to buy low and sale high which is what most people do in the stock marker. The key is to build wealth and the only way that I can think of is buying dividend paying stocks and holding them forever. Stocks are long term investments, if you want to get into the stock market, you must know that this is for building wealth. I just want to build passive income that can buy bills for my home.
My goal is to make $500 per month in dividends and with that amount of money, that can pay my light, water, and cell phone bill. I lifetime goal is make amount money from dividend paying tp pay all of the bills in the house.
