If you've ever missed out on a big sale in the stock market because of fear or uncertainty, you're not alone. But don't let that fear keep you from taking advantage of potential gains.
In this episode, we'll introduce the concept of dollar-cost averaging (DCA) - a practical investment method for those just starting. DCA allows you to control the frequency of your investments and can help reduce your overall risk.
This strategy can also be used in your retirement accounts, where a portion of your income goes into your company retirement plan every month, purchasing shares of mutual funds, ETFs, or stocks.
The key to successful investing is having a long-term perspective and staying disciplined in your investment strategy. So don't let fear hold you back. Start investing in the stock market using dollar-cost averaging and watch your portfolio grow!
Key Points:
[3:20] #1 Dollar-cost averaging (DCA) spreads out investment purchases to reduce market impact
[3:50] #2 Retirement accounts like 401(k) and IRA often use DCA to purchase shares of investments
[8:03] #3 DCA involves systematic monthly stock purchases of the same dollar amount
If you loved this episode, you have to listen to these episodes as well:
>> The Value of a Financial Advisor
>> Planning Your Life & Finances - a 2022 Mash Up
>> Own Your Home and Grow Your Mental Wealth
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Want to chat with a fee-only financial planner? Shoot me an email at emlen@minoritymoneypodcast.com I Can't wait to meet you.
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