Learn about Building a Dividend Stock Portfolio with Mike Heroux

One of the ways you can create a passive income is to build a dividend stock portfolio.

It's true that the easiest way to start investing is to open a brokerage account and then invest in a low-cost index fund or ETF. However, when you are ready to branch out a little more, you can think about building wealth with the help of dividend stocks.

Investing in dividend stocks doesn't have to be difficult or complex, and if you are looking for guidance, you can get help from The Dividend Guy. One of my bloggy friends, Mike Heroux, has written a book about dividend investing, and it's a great resource. If you want to learn how to put together an income portfolio with the help of dividend stocks, download a copy of Dividend Growth: Freedom Through Passive Income for your Kindle (or Kindle app). It's only $9.99 and well worth it.

Building Your Dividend Stock Portfolio

Mike writes in a style that is straightforward, friendly, and engaging. He also provides practical information that almost anyone can use to determine which stocks to add to an income portfolio. It's important to realize, though, that this is not a 101 primer. Mike also offers a free ebook for dividend beginners. It's best to start with that book before moving on to Dividend Growth.

Dividend Growth takes you through a logical progression of why you should consider dividend stocks, as well as the importance of choosing carefully. Mike shows you how to properly screen stocks so that you are meeting your goals and provides pointers on identifying stocks that are likely to keep paying out dividends over the long haul. The goal of this book is to help you begin building a portfolio that allows you an income stream.

Not only does Mike provide you with helpful hints on choosing solid dividend stocks for your portfolio, but he also addresses tax issues and other concerns. And after helping you work your way through the stock selection process, he also provides you with valuable tips for building a portfolio — no matter how much money you have.

Even if all you have is $500 to start, you can start building a dividend portfolio. Mike provides insight into how you can begin with dividend funds, and once you have grown your holdings (with the help of dollar cost averaging and regular dividend payouts), you can begin selling shares to purchase individual dividend stocks that can help you reach your goals. Tips for various investing levels are provided, along with clear strategies for making dividend investing work for you.

Dividend Income Investing Isn't About Getting Rich Quickly

I like that Mike is upfront about the real potential for your dividend portfolio. He makes it clear that this isn't a get-rich-quick proposition. Instead, he points out that effective dividend investing requires that you spend years building your income portfolio. It's not about finding the highest yields; it's about creating stable cash flow from your dividends. The emphasis on patience and persistence is an important one, and it also keeps the reader grounded.

Mike truly knows what he is talking about. He has been involved with dividend stock investing for years, and he has tried everything that he advocates in this book. If you want to start building a dividend income portfolio, this is $9.99 well spent.