Fools Errand

In this midst of this market down turn I have been asked—should we invest more or less? When it comes to your retirement account the answer is, you should be investing 15% of your income towards retirement regardless of what the market is doing. Slow and steady wins the race. Trying to time the market is a fools errand.

Your goal is to be consistent with your retirement investing. For example I invest twice a month. As soon as the money gets zapped out of my account by automatic withdrawal, I buy more shares. Since the market has dropped, I am picking up more shares at a lower price than, let’s say, a few months ago. In the long run you will benefit from what the industry calls dollar cost averaging. The following is a simple explanation of dollar cost averaging if you don’t already know.

“If you put in $100 every month or $1,000 every month into your mutual fund, sometimes you’re going to be buying more shares because the mutual fund is cheaper. Other times, you’re going to be buying fewer shares because it’s more expensive. You like the value going down because you are buying more shares, and you like it going up because the shares are worth more. That’s called dollar cost averaging.”

Remember, in the story the tortoise beats the hare every time. If you try to time the market you will miss out on the value of consistency, and most of the time you will not time the market correctly. It is hard to predict the bottom, and you tend to sit out when it is climbing for fear of buying too high. Don’t let emotions dictate your investing. Time and consistency are the key towards retiring with a nice nest egg.

To help with this consistency you should have your money automatically drafted from your account. Put it on automatic and don’t worry about it. That will have you buying your shares on a consistent basis and at an equal amount.

I hope that helps.

If you have questions don’t hesitate to ask here. Take charge of your money!

Your biggest cheerleader on social media,

Gio Marin

P.S. Day 295 please pray for the 7.2 million goal for 2020


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