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Make investing automatic with dollar-cost averaging
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Investing with such a defined cadence takes market timing out of the picture. If the asset has fallen in price, your periodic investment will allow you to purchase more shares. If the asset rises in price, you’ll purchase fewer shares. If you are committed to your dollar-cost averaging plan, all that matters is maintaining a consistent monthly investment, not the price of the investment you’ve chosen. You may want to periodically increase your monthly contribution amount.
Here’s a brief, practical example of how Have you ever held off dollar-cost averaging from making an invest- works. Suppose you ment because you’re commit $200 per month concerned that the tim- to purchase a mutual ing may not be right? fund. In the first month If this fear is preventyou invest, the share ing you from investing, price is $10, resulting dollar-cost averaging is in a purchase of 20 an approach that you shares. In the second may want to consider. It month, the price drops has the potential to help to $8, and you purchase you accumulate wealth 25 shares. In the third over time and through- month, the value is back out the market’s highs to $10, and you again and lows. Here is an purchase 20 shares. In overview of the strategy. total, you accumulated 65 shares at an average How it works price of $9.23/share. Yet The concept is simple after three months, your – you invest a consisinitial $600 investment tent amount of money is worth $650. at regular intervals. You put the money to work While this demonstrates in the same investment the advantages of – a stock, a mutual fund dollar-cost averaging or other type of asduring periods of market set – regardless of the volatility, keep in mind price of the asset. This that the future direction should continue over an of an investment’s value extended period of time. is difficult to predict. If
the share price continues to rise over time, you’ll purchase fewer shares. That means the benefit of the systematic investment approach will be reduced. It’s important to note that dollar-cost averaging does not assure a profit or protect against a loss in declining markets. It is a way to utilize market volatility to your advantage if you invest consistently, hold the investment over the long term and the underlying investment likely increases in value. You may already be doing it Dollar-cost averaging may already be part of your investment regimen. If a portion of your paycheck is directed to investments in your workplace retirement plan, you are taking advantage of this strategy by making consistent investments into a specific investment regardless of its value. Keep in mind the advantages and disadvantages discussed above as you consider whether to use dollar cost averaging. It may also help to consult with a financial advisor to find out more about how this strategy may fit into your financial plan. Duane J Lusson, CFP, ChFC, CLU, MSFS, is a Private Wealth Advisor with Ameriprise Financial Services, Inc. in Ottumwa, Iowa. He specializes in fee-based financial planning
NOVEMBER 16, 2022 and asset management strategies and has been in practice for 30 years. To contact him, call 641-684-4200 or stop by his office at 527 W. Second in Ottumwa, Iowa. Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation. Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser.
Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value. Ameriprise Financial Services, LLC. Member FINRA and SIPC. © 2022 Ameriprise Financial, Inc. All rights reserved. File # 4978169
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Dogs Never Learn Last week, my column was about the fortuitous timing of seeing a skunk before the dogs spotted him. We were able to lock the dogs on the porch and he was scared off by their barking. That very evening, our luck ran out. It was near bedtime and Jag, the terrier, was snugly tucked into bed in the garage. Billie, the poodle, decided one more trip outside was necessary before he was ready to settle in for the night. His routine is to check the perimeter of the yard, chase off any deer or rabbits that are sneaking up on us, and come back to let us know he wants back in. When we heard his single “woof”, my wife went to the door but did not open it. She could smell the pungent aroma of skunk through the closed door. She turned to me and exclaimed, “we have a problem!” I opened the door to be greeted by a very happy
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and very smelly dog. He and I went around the house and went into the garage. My wife is always prepared for any emergency. She had the ingredients on hand for the skunk neutralizing wash. It is a combination of hydrogen peroxide, dishwashing liquid, and baking soda. She mixed up her magic potion while I ran the hose into the garage from outside. I started washing the stinky dog with ice cold water and the soap mixture. From experience, I have learned, when a dog gets sprayed by a skunk, most of the spray is on the face and front legs. Billie was not so happy to have a cold bath in the garage when he was planning to come in and go to bed. I concentrated my efforts on his face and though he smelled so bad, it was hard to be certain, the smell seemed to diminish. By this time, the dog and I were both freezing cold. I moved the process to the shower and repeated the wash. Billie was not enjoying his shower any more than I was but at least the water was warm. A couple more soaping, scrubbing, and rinsing seemed to cut the smell to where I could no longer detect the aroma. As my wife was drying him, she could still smell skunk, but it was at least tolerable and not likely to spread to his bed or
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innocent bystanders. We loaded the washing machine with wet towels and my clothes and turned it on before collapsing into bed. I really was not planning on a couple hours of dog grooming at bedtime. The next morning, as soon as it was light outside, I went out to see if I could find a skunk’s body. Depending on how the encounter from the night before unfolded, there could be a dead skunk, wounded and angry skunk, or bestcase scenario, no skunk at all. I was hoping the skunk sprayed Billie in self defense before the dog had a chance to get ahold of it. I knew if there was a skunk body, both dogs would celebrate by rolling on it and our problems would be doubled. I checked all around the yard and near the house where a skunk might be. To my relief, the skunk must have sprayed and left. I let the dogs out and the first thing Billie did was go to the spot of the previous night’s encounter. Jag was there to help him smell the area, as both dogs were ready to take on a skunk. Dogs never learn to leave a skunk alone.
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