Open a vanguard account and buy whole market mutual funds. Think of it as a long term savings account. Only put money in that you will not need for at least a year. Better if it's money you won't need for 5 years.
Vanguard has a feature to automatically pull money from your bank and throw it in any mutual funds you specify. Set up that auto deposit once a month. Choose a random day in the middle of the month (prices go up a little bit at the beginning of the month because of everyone else doing auto buys).
Once you set up that auto buy, don't touch it. In fact don't look at it. Only check it on your birthday for a pleasant little surprise and a nice little gift for yourself. Then close the browser and don't look at it again until next year.
I managed to set aside $145,000 over 9 years doing this. All while living a completely normal life. All I did was direct deposit some money and treat it as a savings account.
Remember that time in the market beats timing the market. The time to buy is "consistently over a long period of time". Not "when the market crashes".
If you have to drive from New York to California (retirement), you can either drive 60 miles per hour for a long time, or try to drive 400 miles per hour for a short time. You are more likely to crash and die driving at 400 miles per hour than 60 miles per hour.
Plan on dropping about a couple grand in Tesla Monday morning around 8:30am, feeling like that will be the deepest dip. Thoughts?
Wish I knew anything about doing this. Would it be worth putting a few hundred in or is it only worth your time if your playing with thousands?
Open a vanguard account and buy whole market mutual funds. Think of it as a long term savings account. Only put money in that you will not need for at least a year. Better if it's money you won't need for 5 years.
Vanguard has a feature to automatically pull money from your bank and throw it in any mutual funds you specify. Set up that auto deposit once a month. Choose a random day in the middle of the month (prices go up a little bit at the beginning of the month because of everyone else doing auto buys).
Once you set up that auto buy, don't touch it. In fact don't look at it. Only check it on your birthday for a pleasant little surprise and a nice little gift for yourself. Then close the browser and don't look at it again until next year.
I managed to set aside $145,000 over 9 years doing this. All while living a completely normal life. All I did was direct deposit some money and treat it as a savings account.
Remember that time in the market beats timing the market. The time to buy is "consistently over a long period of time". Not "when the market crashes".
If you have to drive from New York to California (retirement), you can either drive 60 miles per hour for a long time, or try to drive 400 miles per hour for a short time. You are more likely to crash and die driving at 400 miles per hour than 60 miles per hour.