Ever wondered about Dollar Cost Averaging (DCA)? It's an investment strategy where you consistently invest equal sums of money at predetermined intervals, regardless of the market price. Think of it as buying assets or stocks on the first day of each month.
Imagine setting aside 10% of your income to buy into the S&P 500 each month. If you're making $4000, that's $400. But what if the SPY is trading at $453? Can you buy smaller amounts? Absolutely!
You can use platforms like Fund SuperMart (FSM), which allows you to buy in $100 increments with a $1 fee, or Syfe Trade, which offers 2 free trades a month and charges $1.5 after that. So, which is the best option?
In my view, if you only DCA once or twice a month, go with Syfe Trade. It has a super clean UI/UX and excellent customer service. Just set up a giro into Syfe and select a reoccurring plan.
What do we use? Both! We started with FSM more than 8 years ago before Syfe Trade was around. We tried Syfe Trade mainly to review it and it was great! It's a platform we can confidently recommend. (Not Sponsored
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