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I am like you. I have stock dividends deposited in a cash account and then purchase what I want, when I want. Sometimes I dollar coast average into the stock paying me.
My reasoning- when your old like me, DRIP in specific stock would potentially mean I have more shares than I want. Additionally, a nice paying dividend stock that was doing well/attractive 30-40 years ago, potentially may not be a purchase I would make today( AT&T, IMB etc.) but the dividends are still OK so I may keep them.
On the flip side, I do reinvest distributions in almost all the funds I own.
I recognize that I have left money on the table over the years- But I sleep well with my approach and blessed to to have had it work well for me.
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