Your sleeve dividends can either be reinvested (DRIP) or routed through the plan — and which does more depends on whether you carry high-rate debt.
- Reinvesting (DRIP). The dividend buys more of the sleeve that paid it, compounding at your expected return.
- Routing through the plan.The dividend joins the period's free cash and follows the same priority as your surplus — reserve → high-rate debt → investing. It's what Margin Float already does with its dividends.
Toward the open-ended goal of the highest net worth, debt-free: a dividend routed at a 22% card avoids 22%, while reinvested it compounds at ~6–7%. So while a high-rate debt is open, routing clears it sooner and ends higher; once nothing exceeds your expected return, reinvesting and routing do the same work.
Keel doesn't pick for you. You set this in Plan settings → Dividends (Cash First / Smith) and the projection shows the consequence of each, so you can compare. The default is reinvest (DRIP); Margin Float routes its dividends by design.
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