Summary: <br> <br> Announcer: <a href="https://www.temi.com/editor/t/OB-6oOYo_xvKuMnnm8kB2NVYtfqghLsvPSNX3j1GA1vXs9PjGdjfs-8xAa3fwmbbznx4g4rvPsSu1DFEV5L_ScMlx8Q?loadFrom=DocumentDeeplink&ts=0.27">00:00</a> You’re tuned in to the investing for beginners podcast. Finally, step by step premium investment guidance for beginners led by Andrew and Dave to decode industry jargon, silence crippling confusion, and help you overcome emotions by looking at the numbers, your path to financial freedom begins now.<br> Dave: <a href="https://www.temi.com/editor/t/OB-6oOYo_xvKuMnnm8kB2NVYtfqghLsvPSNX3j1GA1vXs9PjGdjfs-8xAa3fwmbbznx4g4rvPsSu1DFEV5L_ScMlx8Q?loadFrom=DocumentDeeplink&ts=36.631">00:36</a> Welcome to Investing for Beginners podcast. This is episode 79 tonight. Andrew and I back by popular demand are going to talk about dollar cost averaging. Talked a lot about this before, but we have gotten a lot of questions about it recently and we thought maybe we would dedicate an episode to it so we could help you guys a little learn bit more about this wonderful strategy that you could use to help with your investing. So Andrew, why don’t you talk a little bit about this and we’ll just kind of go back and forth.<br> Dave: <a href="https://www.temi.com/editor/t/OB-6oOYo_xvKuMnnm8kB2NVYtfqghLsvPSNX3j1GA1vXs9PjGdjfs-8xAa3fwmbbznx4g4rvPsSu1DFEV5L_ScMlx8Q?loadFrom=DocumentDeeplink&ts=66.8">01:06</a> Yeah, sure. So most basic definition of dollar cost averaging as you set aside a certain amount each month and you’re going to put that into the stock market. So why you want to do that? A, it builds a habit B. It’s something that happens kind of in the background and so you’re structuring not only your investing but your personal finances to, to work in the background without any sort of input needed from you, especially if you can do like an auto auto draft or an auto transfer from, from a checking account or something and you can just be making progress with your investing no matter what happens with the market and no mother, no matter what you’re doing with your personal situation. The rich dad poor. That mantra was always pay yourself first. And so by having a dollar cost averaging strategy in place, that’s a way you can do it.<br> Dave: <a href="https://www.temi.com/editor/t/OB-6oOYo_xvKuMnnm8kB2NVYtfqghLsvPSNX3j1GA1vXs9PjGdjfs-8xAa3fwmbbznx4g4rvPsSu1DFEV5L_ScMlx8Q?loadFrom=DocumentDeeplink&ts=125.99">02:05</a> And a way that, again, you can make progress and start to really make your money compound over time. Everybody wishes that they can get into the market and time it perfectly and it looks so easy in hindsight. Um, and as we’re definitely seeing now as we’re recording this, at the end of October 2018, and that’s been a really rough month for the stock market. A lot of people kind of yelling at each other. If you go on twitter, the presidency that people and people are yelling at the president, uh, and there’s just a lot going on and if this, so this is like one of the best times to have a strategy, adopt something like a dollar cost averaging plan in place because it’s when things are, is when you want it the most is because it’s fine. It can also be the most beneficial to you over the long term.<br> Dave: <a href="https://www.temi.com/editor/t/OB-6oOYo_xvKuMnnm8kB2NVYtfqghLsvPSNX3j1GA1vXs9PjGdjfs-8xAa3fwmbbznx4g4rvPsSu1DFEV5L_ScMlx8Q?loadFrom=DocumentDeeplink&ts=188.59">03:08</a> Yeah, I totally agree. And the thing that I love about what we’re talking about tonight is with the market being so volatile over the last month or so,
