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Author: [Investments] Topic: DSPP Questions
neoJhim3 send a private message View Space | Friends | Playbook |
neoJhim3
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#1
Posted: 8/7/2012 12:56:10 PM
Greetings everybody! If anyone can please help answer my questions about DSPP (Direct Stock Purchase Plan).

Here is the DSPP on the company I want to invest in. Basically, I am a new investor, so I have to purchase initially.

New Account Investment Options:    
a) Minimum one-time purchase OR$250.00  
b) Minimum ongoing automatic investment$25.00  
Requires at least 25 per transaction for at least 10 consecutive transactions

Existing Account Investment Options:    
a) Minimum Purchase OR$50.00  
b) Minimum ongoing automatic investment$25.00  
Minimum shares required to enroll for existing accounts1  
Maximum Purchase$150,000.00 Per Year.

Here is my question:
1. After I made the initial purchase of $250 (+ fees), on the Existing Account Investment Option, is the Minimum Purchase of $50 monthly, yearly, or whenever I want to? Basically, I do not want to invest monthly. I just want to put in more money whenever I want to.

Thank you for the help!
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wallstreetcappers send a private message View Space | Friends | Playbook |
wallstreetcappers
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#2
Posted: 8/7/2012 1:25:42 PM
You establish the frequency..

Did you set up the Drip with a broker or online?

If with a broker give them a call and specify when you want the regular auto investments to happen, if online login and poke around the website to see how you can specify the frequency, that or call the online broker and work that out.

If you dont want the auto drip and want to specify, you will need to inquire with the broker or online to see if you can turn it off and just invest on demand when you want to.

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bill702
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bill702
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#3
Posted: 8/7/2012 1:34:35 PM
Yea once you put the $250 in you can set it up to either have the $25 deducted every month or you can put $50 in whenever you want. Look at the fees carefully you might be better off with just a simple brokerage account. They always seem to buy your shares at the high of the month. When I first turned 18 I did three of them with BBY, VZ, and WTR after about 2 years I got bored and started looking at the charts and how much it cost me and it just wasn't worth it. I would have done better buying the stocks through a broker. The good thing about them its all passive and you don't have to worry about it and they just take it out of your checking account every month if you choose to go that way.
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neoJhim3 send a private message View Space | Friends | Playbook |
neoJhim3
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#4
Posted: 8/7/2012 2:02:20 PM
wallstreetcappers and bill702, thank you very much for the help!
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