The Three "Ds" Of Investing
Let's keep it simple.
Everyone can invest as long as you have a system. So let me give you one of the industry’s little secrets.
• Dollar-Cost Averaging
Dollar-Cost Averaging: The trick here is to be consistent. Every month or paycheck you want to put aside a set amount of your income to a personal goal. Maybe retirement, college education, first home or anything you can dream of.
Discipline: Here you're going to need a little faith or like my Drill Sergeant use to like to tell me so many years ago, "Because I know better than you!" It's very hard to get guaranties in the market but I'm going to give you two right now: 1) The market is going to go up & 2) the market is going to go down. You have to stick with your "Dollar-Cost Averaging" strategy for it to work.
Diversification: The old saying works well here, "don't put all your eggs in one basket." There is no perfect investment and no one knows when a part of the market will be up or down so be sure to have a portfolio that is balanced among different investments.