Dollar Cost Averaging: What it is and how to use it
When it comes to investing, dollar cost averaging is something to be familiar with. It can help you make good investment decisions!
What is Dollar Cost Averaging?
Dollar-cost-averaging (DCA) is a systematic program of investing equal sums of money at regular intervals regardless of the investment’s price.
Dollar Cost Averaging
Regular, same price investments force you to ignore the purchase price, and focus instead on just putting in the investment.
Benefits of this approach
- Reduce Risk -Create investor discipline - Lower your cost basis (average price per share) - remove emotion from investing
A conservative approach -Possible opportunity costs - May forfeit higher returns
Who Should Do This
For beginner investors, this is a great approach. Also anyone who likes to "set it and forget it" this is a great way to do it!
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