With a long weekend with my sons and my wife out of state for a reunion with friends, we found our way to Home Depot, the library, a car wash, and of course, a local pizza parlor. These small, but meaningful experiences for our boys’ weekend left me appreciating why a commitment to an automatic, monthly savings plan provides clarity and confidence within our day-to-day lives. We ventured out as my wife enjoyed the time with her friends, knowing we had already committed to saving a determined dollar amount, prior to the decisions of this weekend, this week, and this month. Some months naturally are more expensive than others, and outside of December, it’s hard to anticipate which month(s) will squeeze you. So, this confidence can be had when you have ALREADY settled on your 401k contribution, Roth IRA contribution, your non-retirement investment account contribution, your 529 plan contribution, your insurance contribution, and other vehicles you may be using to save for your priorities. There are a lot of options, but when accounts are being funded, the money isn’t available to spend, and you are taking advantage of dollar-cost averaging
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Investing involves risk, including the risk of loss. Dollar cost averaging involves continuous investment in securities regardless of fluctuation in price levels of such securities. An investor should consider their ability to continue purchasing through fluctuating price levels. Such a plan does not assure a profit and does not protect against loss in declining markets.