Over 65 billion aluminum cans are thrown away every year in America. That’s roughly 170 million cans each day. This waste deals a devastating toll to landfills, road-sides, and the environment in general.
In North America, the standard can size is 12 fluid ounces. A single empty 12 ounce aluminum can weighs approximately 15 grams (1/2 ounce). Therefore, there are roughly 30 empty cans per pound just waiting to be picked up.
Currently the average price per pound received by those who recycle cans is $0.65/pound. Using this price it only takes 462 cans to equal $10.
What does this have to do with wealth? Let me show you how you can help improve the environment and secure you’re your financial future with that $10. Here is a brief introduction to DRIP investing with one of my favorite companies.
What is a DRIP? A DRIP (Dividend Re-Investment Plan) is a long-term strategy of accumulating shares of stock by re-investing dividends rather than being paid in cash. Hundred of Fortune 500 companies have DRIPs. You probably use some of these companies’ products each day. Dividends are generally dispersed every quarter (3 months). And yes, DRIPs take advantage of the most powerful financial concept ever created: compounding interest.
Additional shares can also be purchased at pre-set intervals, usually once a month. Each company has their own set of rules, but these rules can be found quite easily with an Internet search. And unlike mutual funds additional purchases are optional. Best of all, some of the best companies do not charge any fee to participate in their programs.
Coca-Cola (KO) is the world’s largest soft drink company. It has a rather large fruit juice business and owns 44 percent of bottler Coca-Cola Enterprises. They also control a large percentage of the bottled water market.
To participate in Coke’s DRIP you must be a share holder of record. This means you must own and physically hold one (1) share. This share can be purchased several ways. The least expensive of which can be found on a web site called www.sharebuilder.com. Or, you can obtain the share through any stock broker, but be prepared for their fees. Once you become a share holder of record you can enroll in Coke’s DRIP by calling 888-265-3747.
Coke’s 10-year annual return is 21 percent. They have increased the dividend amount every year from 1989-2006. The current dividend yield is 1.24 percent. And the minimum optional purchase amount is $10. Translation, your 462 aluminum cans.
Just think of it! If you only collected and recycled Coca-Cola cans you could buy stock in the world’s most recognized brand with “their own money”. Now that’s what I call recycling your way to wealth!