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Sailing into Retirement.
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Ahoy Mates, May your holidays be bright and merry. This quick post is an open response to the kind comments and questions from gullipalli regarding my last post, Heading Into Port. Would I put my retirement money in high dividend paying shipping stocks? Yes, indeed! I have a very conservative 401K, all mutual funds anchored by Fidelity Spartan Total Market Index (FSTMX) and Fidelity Spartan International Index (FSIIX). No load and low fees are the way to go. Put your money in every payday and forget about it. On the other hand is my Roth IRA. That's where I have my fun. 100% shipping stocks and will never have to pay taxes on the dividends. Trade as often as you like. Everyone who earns any income at all ought to have a Roth IRA, it's a great deal. High dividend paying (shipping) stocks with principal as safe as MO or DEO? By principal I assume you mean a stable stock price and a company that will last. No stock or anything in this world is risk free and unchanging but some appear to be so more than others. Diageo (DEO) has been around for 250 years or so and Altria Group (MO) for about 150 years, under different names. The highest paying dividend stock in Crow's Nest is Aktieselskabet Dampskibsselskabet Torm (TRMD). It's dividend right now is more than twice Altria. The Danish company that operates both product tankers and dry bulk has been around since it acquired it's first ship, the s/s Alice, in 1889. The company has gone thru both good and bad times, including a couple of world wars, but it's still here and I believe a great investment. With shipping companies you have to expect a lot of volatility and wild price swings. It takes a while to get your sea legs, just keep you eyes on the horizon. Enjoy life and beware sea hags underneath the mistletoe. Robert
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Comments (4)
Robert, Thanks for sharing some personal successful ideas.
The Roth makes a lot of sense. Hope the tax preson will continue to stay away.
What 's with that name Aktieselskabet
I got tired typing so I went and grabbed a brew, Dampskibsselskabet Torm. Gosh Robert I'm thirsty again
Cheers, DuffBeer
Posted by duffbeer | December 11, 2007 9:28 AM
Thanks for your on the mark response. I hope the organizers of this contest will select you as winner, inspite of your portfolio performances.
Could you give us a few names good for Roth IRA for 2008 and beyond ... yes will stay around for a while ...
Posted by gullapalli | December 12, 2007 10:22 AM
Robert,
How is it the shipping companies able to pay such high dividends. How long they will be able to sustain this? What were the dividends during oil slump? Do they operate like gas pipeline partnerships like MMP or REIT where by law they have to pay high portion in dividends?
Posted by gullapalli | December 12, 2007 10:34 AM
Robert,
I recently did a post on DRYS, to answer the question of the week, venturing onto your turf, or maybe surf would be more like it.
Anyway, I thought you might be interested, maybe you could post something on it where it's the question of the week and Jamie is looking for comments.
Tom
Posted by Thomas Armistead | February 9, 2008 6:16 PM