I reinvest my dividends on my employee discounted shares. Man that grew well and is readily accessible as a medium term savings (rather than a long term account like my 401k, Roth, and IRA for retirement). I save for target purchases like a car or home renovations. Getting 10% return on investment in share growth plus the compounding of dividends gets me an extra share per quarter plus the 15% discount means I get a huge premium over a 2% savings account and even greater savings over a home equity or car loan. Just need to sell enough shares to cover my purchase plus capital gains tax. To top it all off, because it’s an employee plan, I can increase my savings rate 1% per year and not even feel it. So if you work for a publicly traded company, take advantage of your benefits!