FundRobot » Funds » any DRIP plan advice?

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So I have been doing some research and plan on putting 10k a year for 3 years + 100$ a month into a DRIP plan. Have done a little estimating and in 20 years I will have summed up approximately $125,000 by investing only $50,000 in. The interest for the company I'm looking at is around .045%, does anyone have any advice/companies with better interest rates/success stories from DRIP plans they care to share? I am going to college next year and want to use this to help pay off my student loans.

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Most dividends being paid out are from 2% to 4% and will take some additional principle to hit your goals. One thing I found was that Charles Schwab has a dividend reinvestment option in there accounts for free. they will buy more stocks, ETF or mutual fund shares the day your dividend are paid to you. I have had alot of success with it and opens you up to more then stocks. The other thing that makes it good is that the purchase of shares that your dividends are buying is commission free. You can also move the shares you presently own into the account to better manage them. check it out and see if it works for you.

Good luck
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