I want to put more of my paycheck+rsus into the market, ideally in a “set it and forget it” manner and hold for the long term. But market is so volatile these days that I’m wondering if there’s smart ways to dollar cost average my way in, eg by buying small amounts every day/week vs buying a chunk of {your favorite ETF} once per month/quarter. Any suggestions on brokers/tools/apps that enable automating small regular purchases of equities/indexes? Any other ideas are also welcome for how to invest monthly income in an automated manner. Don’t say Wealthfront because I have gotten shitty returns with that in spite of dialing up my risk to 10. Ideally I’d like more control over choice of stocks to buy but would like to automate it into small regular purchases, with minimal fees. #personalfinance #investments
Schwab allows that for Mutual funds
Robinhood allows that with any stock
following. i'm more interesting in if investing daily is a good idea
I buy 4k worth of different vanguard index funds every month using automatic investing feature
Bad idea.
What would be a better strategy? Or are you saying now is a bad time put more money in the market - which I kinda agree, but right now I am under invested and I only care about long term (5+ years) for this investment.
Manage your investments by had and make independent decisions.