#DOLLAR-COST AVERAGING
Using Dollar Cost Averaging TO Build Long-Term Wealth
Build long-term wealth even if you’re a newbie investor
Most new investors do not have large sums to invest and don’t always know where to begin. Typically, as their earning power increases, they will have spare cash each month to allocate to their investment portfolio. Dollar cost averaging is thus the ideal strategy for new investors looking to build a long-term portfolio. It also provides for a very hands-off approach which can be ideal for the inexperienced investor.
The ability to manage one’s emotions when making rational decisions is a key trait of successful investors. However, this is easier said than done, which is why many investors with a long-term view use dollar cost averaging to help manage risk and remove emotions from the equation as they build their investment portfolio.
