Financial independence is the result of setting financial goals. Develop a written plan. What is your financial goal? Is it a college fund, or financial security during retirement? How much money will you commit now? If you invest in Dividend Reinvestment Plans (DRPs DRIPs SIPs), which stocks will you buy? What is your buying strategy. What is your selling strategy? Are you prepared to act? Invest regularly and you will learn while doing. To succeed financially, commit to wealth and take responsibility for your investments.

• Commit to wealth. We were born with the capability to be rich. Many find this hard to understand or accept. But most of us have not begun to tap our potential to become financially independent. Just like any other success, you need a plan and you need to work your plan.

• Take responsibility for your investments. No one has more interest in growing your money than you do. Does it really make sense to hand your money over to a broker or a mutual fund and hope for success? They may be qualified, but unless you are involved you will probably buy and sell at all the wrong times.

1. Your goal?  How much financial success do you expect to attain? Stock1 ideas involves conservative investing that offer you the potential to accumulate a lump sum of investment capital (perpetual income) after a period of years.

2. How much money will you commit?  You have to make some basic assumptions that will lead you to this answer. How much money will you invest regularly? How long will you invest in your plan? What ROI can you expect? How much investment capital do you need to become perpetually independent?

3. Which stock?  Which stocks will you select for your investment plan? This plan concentrates on blue chip corporations. These are corporations that have been successful for many years. Past success is the most valid information for forecasting the future. This is a conservative approach to stock selection, however these stocks offer the potential for an excellent ROI. There are many blue chips to choose from, so your task will be to select the stocks that offer the best opportunity for growth.

4. What is your buying strategy?  When you invest regularly, you achieve the benefits of dollar cost averaging. Your cost will be the average of the individual purchases over time. Your basis in the stock will be between its high and low values over the period.

   Many companies offer DRP's that allow direct purchase of shares without broker commissions. On small purchases, DRP plans save you a bundle of commission (at least 10% of your investment capital). DRP plans reinvest your dividends; reinvesting investment income is a golden rule for financial success.

5. What is your selling strategy?  When do you take your profit? Timing maximizes ROI; it is also the most difficult aspect of successful investing. When you study a stock chart, you intuitively realize that your financial success is dependent on when you buy and sell. Developing a timing strategy requires study.

6. Are you prepared to act?  When you complete your written financial plan - a plan that makes sense to you - you should be ready to act. Your plan gives you a picture of what you are trying to achieve. Is it reasonable? Are you willing to commit to the plan? Will you stick with it, even when it becomes difficult? Commit time and effort to creating a sound financial plan; financial success will follow.
   "When you develop a plan
   that makes sense, you will act."

7. Discipline?  Will you stick with your plan? Review and update your plan occasionally. Adjust your plan and move ahead. Investing results do not follow a straight line. Your plan may be very sound and not create the results you expect over a short period. You must have the discipline to stick with your initial decision, to use stock investing to create a better financial future.