Hey everyone! When it comes to investing, there are many strategies, but DCA (Dollar-Cost Averaging) has been my go-to since early in my journey. I made mistakes at the beginning, like picking too many assets, but since I began DCA and holding, 90% of my profits have come from this approach.
In this clip:
- Stocks allow for fractional purchases of a share.
- DCA even as little as one dollar into an asset of your choice.
- Invest, then investigate.
The markets have changed a lot in the last few years. Not long ago, you had to buy a full share to invest in stocks; now, you can invest as little as one dollar. So, if you can afford a cup of coffee, you can start investing at least a dollar a week.
Find something you like to start investing in. Once you begin buying, you’re more motivated to research it deeply. You need to figure out if it’s something you’re ready to hold for the next ten years. And you can change your mind, not based solely on price action, but on the fundamentals of the asset you picked.
Investing in one asset or asset class, be it crypto or stocks, is a good way to start, especially if you have a small budget. Focus on whatever you choose instead of spreading yourself thin, and stay committed for the long term. There are many strategies, but this is what I’ve found most effective.
https://youtu.be/uWWIWs2XlSs