How I plan to turn £60.30 into a million by investing in top dividend stocks Harvey Jones | Monday, 18th January, 2021 Enter Your Email Address “This Stock Could Be Like Buying Amazon in 1997” Simply click below to discover how you can take advantage of this. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Harvey Jones It’s possible to make a million pounds by investing in top dividend stocks, provided I’m patient and stick with it. I don’t expect to do it in a single leap, say, by investing in the next Amazon or Tesla at an early stage. Instead, I plan to build my wealth little by little, then let it roll up to become something very big indeed.I’m a big fan of dividend stocks. They’ve had a rough time since the pandemic, but the regular shareholder payments can help me make a million, provided I put them to work. I’ve just received the modest sum of £60.30, and that’s put me another small step closer to building sufficient money to retire.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…That £60.30 is the latest dividend payment I received from an investment trust, Scottish Oriental Smaller Companies Trust. I didn’t have to do anything to generate it. The trust just sent it to me. As do most of the stocks, trackers and mutual funds I hold. My portfolio is mostly invested in UK shares, which pay some of the most generous dividends in the world.I’m earning income from dividend stocksI don’t expect £60.30 to turn into £1m all on its own. I’d have to live for 144 years for that to happen, assuming an average total return of 7% a year. At that point, I’d by 199 years old. And £1m probably wouldn’t be worth that much!Happily, that £60.30 is just one of many (and a small one). Another fund I own, HSBC FTSE All-Share Index, pays me around £70 every month. I have a FTSE 100 tracker that pays about £600 a year. I reinvest all back into my portfolio and compound growth should turn them into something quite big one day.Somebody with a £100,000 portfolio could get dividends totalling around £3,500 a year. After 30 years those payouts alone would top more than £350,000, if they grew at an average of 7% a year. My imaginary investor would also have their original £100,000 plus capital growth on top of that from rising share prices. They will also generate dividend income and capital growth on all their future contributions. That million looks achievable.Roll up, roll upAll too often we think of dividends in terms of percentage yields, but I like to think of them in cash terms and I can really see how amazing they are. If I invest, say, £10,000 in FTSE 100 life company Phoenix Group Holdings, its current 6.75% yield should hand me £675 this year. I’ll get something similar next year as well. And the year after that.The more dividend stocks I buy, the more payouts you’ll get. Sadly, many UK companies have suspended dividends during the pandemic, but plenty yield 6% or more, including these two. I cherish each £60.30 you receive, or whatever the sum. It may not be worth a fortune today but, over time, all those little payments could turn into a million. That’s the joy of investing in dividend stocks. Image source: Getty Images Harvey Jones has no position in any of the shares mentioned. 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A summer downpour in July floods streets in Ocean City.At two meetings Saturday, Ocean City property owners sought details on the city’s $79.4 million five-year plan to improve roads, drainage, the beach, bay and boardwalk.The citizens are wondering if the massive spending will make a difference in their lives — give them a street that doesn’t flood or a bay deep enough to use their boats.The Ocean City Community Association sponsored the first meeting at the Ocean City Free Public Library, and Finance Director Frank Donato and Business Administrator Jim Mallon made a presentation on the city’s plan. Mayor Jay Gillian had been scheduled to attend, but he could not make it due to the flu.The presentation summarized the key elements of the plan:The newest five-year plan ramps up overall spending from $50 million to about $80 million.The plan would be funded by borrowing and capitalizes on “older debt falling off the table” and low interest rates available in part because of the city’s good bond rating.More detail on plans is available at ocnj.us/capital-projects.The plan allocates $28 million to road and drainage improvements over the next five years, including $8 million in the next year alone. A road improvement program schedule lists proposed projects, but the list of roads could change as work is designed, according to Donato. It includes $250,000 annually for the improvement of alleys.The plan allocates $5 million for bayside dredging, much of it dedicated to freeing up space in a spoils site to allow projects to proceed. Donato suggested actual dredging work would start from the area where an incomplete project left off — near 16th and 17th streets — and proceed northward.The plan would allow the continuation of a project to replace the boardwalk between Fifth and 12th streets. Next year’s work would be from Plaza Place (near Seventh Street) to Eighth Street. The following year would involve creation of a stronger concrete substructure to accommodate vehicle traffic to the Ocean City Music Pier in a stretch between Eighth and Ninth streets.The plan would allow for maintenance beach replenishment projects at both the north and south ends of the island on a three-year schedule.The presentation allowed time for questions, and as property owners asked about their specific situations, it became clear that the long-range plans do not yet include that level of detail.Within the road improvement plan, could the city break down the amount to be spent on paving and the amount to be spent on drainage improvements? Could condominium owners on the bayside (at their own expense) piggyback on city projects for dredging?The questions went mostly unanswered.At a second meeting sponsored by a subcommittee of the Fairness in Taxes community group, about 10 property owners asked similar questions about the city’s specific plans for tackling street flooding issues.The group wants to see more detail than is offered in the existing plans on how the city can remediate flooding.“We’re not going to stop until this is addressed, and that is my commitment to this group,” said Eric Sauder, a leader of the Ocean City Flooding subcommittee.The group had met on Feb. 12 but wanted to add a weekend date to allow nonresident property owners to participate.As they did at the earlier meeting, the owners shared stories of flooding that occurs not only during major storms and tidal events, but during summer downpours and even on sunny days — with salt water bubbling up through the city’s storm drain system.“We had floods in the ’70s, ’80s and ’90s, but they’re not as bad as they are now,” said Joe Kelly, who has owned property on 31st Street just off Haven Avenue for 35 years.Steve Frame said the crest of a redesigned Bayland Avenue acts as a wall that prevents water from draining.“It stands there all the time, even when it’s not raining,” Frame said.Carol Corley suggested that even something as simple as regular maintenance to keep storm drains from clogging could go a long way. It’s a job that her husband routinely takes on himself.The group is encouraging property owners to share written anecdotes and information on their flooding problems by emailing [email protected]
David Luiz endured a woeful return to Premier League action last week (Picture: Getty Images)Former Arsenal star Perry Groves feels extending David Luiz’s contract at the club would be a big mistake and has urged Mikel Arteta to let the Brazilian leave at the end of the season.The 33-year-old arrived at Arsenal from Chelsea last summer and has had, at best, a mixed time in north London.He was left on the bench for the Premier League return against Manchester City last Wednesday, but was called into action after an injury to Pablo Mari and went on to concede a penalty and be sent off.The Brazilian has now conceded four penalties in his single season with the Gunners as he continually proves to be a liability in the defence.AdvertisementAdvertisementADVERTISEMENTHis contract at Arsenal was for just 12 months, but the club have the option to extend it for a further season if they want, something that Groves suggests would be a terrible idea.The 55-year-old, who won two top flight titles with Arsenal, feels handing Luiz an extension would invite pressure and criticism from fans on the manager after the defender has proved he is not to be up to the job.‘He’s 33 now and keeps making the same mistakes,’ Groves told talkSPORT. ‘He can play one brilliant game in six where you think what a player he is, pinging it 60, 70 yards, getting in front of the centre-forward and nicking it.‘But then another three or four of those games, he’ll make a rick or he won’t concentrate.‘If Arteta signs David Luiz, Arteta will come under pressure from Arsenal fans.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘They will lose faith in Arteta because it’s blatantly obvious that he [Luiz] is always going to cause you problems.‘Arteta wants to play a back four, he wants to play a high line, he wants to play a pressing game and David Luiz can’t do that.’After Luiz’s calamitous performance against City, which also saw Luiz make a substantial error to allow Raheem Sterling score the first goal of the game, Arteta defended his man.‘Me personally, I am going to defend him with everything I have because I believe in him,’ said the Gunners boss. ‘He has shown me a lot of things in his time here and his career speaks for itself.’Luiz missed Arsenal’s defeat to Brighton on Saturday and will also sit out the trip to Southampton on Thursday through suspension, but will be available again when Norwich visit the Emirates on 1 July.MORE: ‘I just can’t understand it!’ – Ruud Gullit rips into ‘overrated’ David Luiz amid Arsenal strugglesMORE: Charlie Nicholas urges Mikel Arteta to sell ten Arsenal stars including Pierre-Emerick Aubameyang & David LuizFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Metro Sport ReporterMonday 22 Jun 2020 12:15 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link196Shares Arsenal hero Perry Groves implores Mikel Arteta not to hand David Luiz a new contract Advertisement Comment Advertisement