Successful investors buy when the markets are high and when they are low. Dollar-cost averaging is the strategy where an investor buys on a regular basis as the stock market rises and falls. Monthly deductions from your paycheck into your retirement plan is one way to accomplish that goal. If the Dow is at 25,000 ten years from now, then along the way I would rather buy stocks at 16,000 than at 18,000. Dips in the market let you buy assets cheaper on your path to retirement than if prices went steadily straight up.
- Larry Pike, CFA, Client Priority Financial Advisors LLC
- www.clientpriority.com
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