In a previous post, I demonstrated the technique of dollar cost averaging. The method is often a savvy strategy to enter a position. Though, it is boring and repetitive. Day after day, order after order, you slowly buy into a position only to see the fruits of this labor in the distant future.
Another aspect of investing that is a repetitive, mundane task is regular deposits into your investment account. Similar to dollar cost averaging, every paycheck or every month, it is wise to distribute a set amount from your income to your investment account. This repetition, especially for long-term investors (which should be all of us), is done for all eternity, and it’s the less sexy part of making investment income.
However, slowly growing your principal investment amount with regular deposits is a sure-fire way to see your investment 10x over time.
Note: Please read this site's 24Hour Journal disclaimer regarding finance and investing information.
TIP: Investing is mundane
TIP: Investing is mundane
TIP: Investing is mundane
In a previous post, I demonstrated the technique of dollar cost averaging. The method is often a savvy strategy to enter a position. Though, it is boring and repetitive. Day after day, order after order, you slowly buy into a position only to see the fruits of this labor in the distant future.
Another aspect of investing that is a repetitive, mundane task is regular deposits into your investment account. Similar to dollar cost averaging, every paycheck or every month, it is wise to distribute a set amount from your income to your investment account. This repetition, especially for long-term investors (which should be all of us), is done for all eternity, and it’s the less sexy part of making investment income.
However, slowly growing your principal investment amount with regular deposits is a sure-fire way to see your investment 10x over time.
Note: Please read this site's 24Hour Journal disclaimer regarding finance and investing information.