Brandon Clay Financial Conversations - Own What You Use
I've been extremely fortunate to grow over the years in my financial walk. I'm always looking to learn how to keep growing. As I start to put the next touches on my overall retirement strategy, the challenge is simple: for every dollar I spend with a Blue Chip S&P 100 company, I have to match it by spending a dollar in stock with that company as well. You can Google "S&P 100" for a quick search of companies currently on the list,
For example, if I buy a pair of $100 Nike sneakers or an outfit at that same price, then I need to make a purchase of $100 worth of stock in Nike as well before I complete the transaction. The same goes for buying a new iPhone or any Apple product. I have to match the product purchase with a stock purchase dollar for dollar. There's power in owning what you use. It also helps to curb unnecessary spending without contributing to retirement at the same time.
The popular adage is if you can't afford to buy it twice then don't buy it. I like that but it still doesn't encourage investing in our future. Our portfolios should be full of the elite brands that we use on a daily basis many of whom also payout dividends too (reinvest those as well):
Amazon
Apple
Nike
Just to name a few...