Stocks are a rockin! If you're not investing in the stock market, it's time to get started! The best way to start investing is dollar cost averaging. Learn more in this post!
How are you? It’s been another great week here in Cinci. It’s warming up and Krista and I have been heads down preparing for our wedding. If you don’t already know Krista and I will be getting married on April 7th! We’re looking forward to it for sure!
INTERVIEW WITH MICHELLE FROM MAKING SENSE OF CENTS
Meanwhile, I’ve been trying to squeeze in some time on Let’s Automate Your Money in between. I’ve managed to get another great interview with Michelle from Making Sense of Cents. It’s a great read.
If you don’t know about Michelle, she has managed to build her blog revenue to over $100,000 per month. Yes, you read that right. Not per year, per month.
She has some great financial tips for you.
HOW I INCREASED MY PAYCHECK BY $200
With a small change, I was able to increase my paycheck by $200. That’s an extra $400 per month. That’s pretty good! :)
I went ahead and wrote up a guide on how I increased my paycheck along with some spring cleanup tips for making more on your paycheck.
STOCKS ARE A ROCKIN
Stocks are a rockin! The Badass Stock Portfolio broke $21,000. We were in the $14,000’s just back in December!
Here’s a screenshot of the last month. Looks like we’re up about 12%. The pull back in January was a good correction after strong growth, but don’t get too cocky. They’ll probably be a lot of small corrections over the coming months.
The economy is strong, but it wouldn’t take much to send us into another strong correction or even a small recession. Keep an eye out for anything negative like slowing wage growth or possibly even future inflation.
I haven’t added anything to the portfolio yet this year, but I’m eyeing an upcoming IPO from Spotify. I bet you know all about Spotify, but if you don’t, they are the market leader in music streaming. They have a strong product and hopefully their financials match. We’ll see soon when they make their stock available within the next couple months.
THAT BADASS MONEY HANDBOOK IS DONE!
The final draft is done! After getting some beta feedback I’m going to add a little more to it to make sure it’s the best it can be before release. I’m planning on releasing in early April now unfortunately, but I promise you, it will be totally worth the wait!
I’ll start giving you all the details on it in next week’s update.
QUESTION AND ANSWER
Keep those questions coming in. Here is this week’s question:
QUESTION: Do you recommend dollar cost averaging?
ANSWER: Yes! I’ve been doing it for years and it has worked well for me. For everyone who is not familiar with dollar cost averaging, here is what it is. You continuously contribute a set amount of money to your investments.
So, as the market goes up and down you are continuously buying high and low. As the market goes up over time your money is growing from those lows and highs.
It’s very difficult to time those ups and downs, so it’s easier and usually works better to just dollar cost average your investments.
So, yes, I highly recommend dollar cost averaging into any investments you contribute to. I dollar cost average into my 401K every 2 weeks and it works very well.
See you next week!
Dave | Creator of Let’s Automate Your Money
CREATOR OF LET'S AUTOMATE YOUR MONEY