People are always looking for the best time to buy when investing their money. Ultimately, no one wants to pay too much for an investment that they know will fluctuate in value from one day to the next.
It doesn’t matter how smart or experienced someone may be, no one can tell you with any degree of certainty where interest rates will be from one day to the next and, consequently, when the right time to buy a certain investment is going to be.
Ultimately, it is not the price of your investment that will determine how much money you will make — it’s how many units you own at the end of the day. The secret here is to acquire as many units as you can. Read More…
Everyone should learn about and implement DCA into their investment practices.
When i was younger i didn’t know this and wasted alot of money.
Now i can’t live without the technique.
Can this technique apply to other things like Savings accounts?
Thanks for the info. I never knew about this before. Interesting.
I still don’t like the idea. I have read contradictory things about dollar-cost averaging. Seems people are broken into two camps: for and against 🙁
Not much into stocks because i think it is just one giant gamble. I prefer more safe investments like GICs.
It’s a great method but i think it is ripe for abuse. I remember a few years back when a friend used this when investing into RRSP and he had pre-authorized deposits being made but he forgot about the contribution limit and overcontributed causing major penalties to him.