How can you make investing an automatic habit?? Here?s what I do.
I invest a set amount into one of my recommended funds every month.? I invest whether I?m excited and optimistic or whether I?m scared to death.? I just automatically invest.
Using electronic funds transfer from your checking account or paycheck to your brokerage account, as well as?using dollar cost averaging, you can? develop?this systematic method of investing in which you invest a fixed amount of money at regular intervals.
When I look back at my records, I can prove to myself that my monthly investment exactly ten years ago this month is up 70%, and that my investment at the most pessimistic moment in my lifetime during March 2009 is up 95%.? Since 2000, we experienced a foreign terrorist attack on our soil, a global financial crisis with European governments imploding, disturbing partisan government actions, and numerous natural disasters.? The laws of the markets simply shift and continue about their course without emotion.
This is not to pretend there are not things to be nervous about.? There certainly are.? However, that is why we build a diversified portfolio that includes investments that grow when markets are good, targeted investments to guard against inflation, and safer investments.?? I strive to find the optimal mix of everything based on your personal retirement goals, risk tolerance and cash flow needs.?? It?s not an easy task, and there are times when I question my sanity.? But over time, I have been pleased with the results.
Ron Dickinson, CPA, CFP?, MPA-Tax
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