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If you are new to investing, dollar cost averaging brings you many benefits. Today, I'd share with you 5 mistakes that investors make so that you can avoid them!
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0:00 Introduction
0:35 Number 1 Dollar cost averaging as a disguise of catching a falling knife
Story of Nokia which fell in 2000 and never recovered. Dollar cost averaging would not have yielded results.
Buy indexes or funds instead which will never go to $0
3:02 Number 2 Triggering dollar cost averaging manually
Dollar cost averaging helps you buy more when prices go down and buy less when prices go up
Manually triggering dollar cost averaging will have a lot of emotions
5:40 Number 3 Buying in target levels vs periodically
Markets go up they take the stairs but takes the elevator down
Build up your portfolio gradually to get used to swings
8:00 Number 4 Stopping or reducing dollar cost averaging during downturns
Deviating from original plan is not a good strategy
9:12 Number 5 Changing it to buying the bottom instead
Dead cat bounces happen in bear markets and it will always look like the bottom has reached.
Each bounce is strong and lures investors in who want to buy the dip.
#dollarcostaveraging #dca
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We do not make any recommendations on whether a security is a buy/sell as every investor has different investment goals and risk profiles. The presentation of ideas from Josh Tan and TheAstuteParent are strictly for education purposes. You are advised to perform independent research yourself or seek a qualified financial adviser. We will not be liable for any losses directly or indirectly from the material. Some of the referral links in the video summary are products and services personally used by Josh Tan and they may pay an affiliate commission or referral bonus.
It is not an endorsement of the product unless explicitly stated and we will not be liable for any losses. The content in this video and any promotions mentioned is accurate as of the posting date.
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About Josh Tan:
Josh holds a degree in Accounting from NTU. In 2016, he co-founded the financial education website TheAstuteParent to provide detailed insurance plan analysis and financial planning tips.
As a ChFC Charterholder, Josh has agreed to be bounded by the ChFC®/S Code of Ethics. This includes, among others, acting in a professional manner when it comes to conducting due diligence on primary and secondary sources of investment-related data, and articulating his investment opinions based on his research and beliefs. Based on his research and analysis, he highlighted his beliefs and opinions, and illustrated the concept of time value of money, as of the time of the video.
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