An unexpected gift just help breathe some life into this portfolio. My mother has been one of my strongest supporters. I've always been pretty open with her about my finances. She knows that I have a decent income stream between my wife and I. But she also knows with two small children in full-time daycare and my wife's student loan we have a lot of short term costs.
This past week my mother gave me a check for $1,000 with the only condition being that I invest the money. Recently I took my first step by purchasing 8 shares of Target at $520.56 or 65.07 per share.
What I like about Target is it's cheap, has a strong dividend, and very long record of dividend increases. Do I think it should be my heaviest weighted investment? Probably not. I have some concerns about the retail sector. However, my portfolio is so small I don't see it as a concern. As I continue to invest my portfolio will come into balance.
What I like about Target:
Payout Ratio: 47.5% plenty of room for more growth.
Dividend Growth: 49 years
P/E Ratio: 11.8 percent
It's also nice to know that I have a good chunk of change to invest.
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