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dudemonkey (53.73)

Investment Accounting

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July 28, 2009 – Comments (1)

How do you all account your investments?  Are there any good books or websites that outline your methods?

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#1) On July 28, 2009 at 8:40 PM, truthisntstupid (81.75) wrote:

I buy only companies I intend to keep and buy for dividend income.  I report my dividend income.  DONE.  Nice and simple.  Investing for income and investing only in companies you feel strongly will be around as long as you are AND be able to keep paying a dividend, hopefully a growing one, really forces you to think long term and try to resist fads.  See Tod Wenning's "Build A High Yield Portfolio."   I always planned on investing this way but actually never thought I'd see an article promoting it.  I do keep all the info I would need in order to figure my cost basis, etc, in case I ever sell, but I buy income and plan on keeping what I buy so I don't hassle with capital gains/losses at year-end.  Takes me about 20 minutes to do my taxes every January. 

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