Sitting here and looking ahead at the next couple of months, I have an opportunity to start growing into the investment pyramid. In my planning, I am looking at these set of facts:
#1. My CD Ladder will be complete in less than two short months
#2. I will have at least $500 in the STMT Savings account with Ally bank earning 1.25%
#3. Current stock market declines due to COVID with an unrealized loss on my SPHD holdings
So with all that, I chose to buy another 16 shares of SPHD today at $30.67/share investing almost $491. I understand there is risk to the market on additional downside in the forms of price declines and potential dividend cuts. I also am not in the place where I want to expand into another investment vehicle just yet, so dollar cost averaging seemed like the right move for the long term for the STMT account.
If you are unfamiliar with dollar cost averaging, here are a couple of articles explaining dollar cost averaging:
Investopedia: Dollar Cost Averaging
US News: Investing 101 on Dollar Cost Averaging
I am a finance professional with over 20 years of experience and very passionate about all topics related to finance; enjoying the aspect of teaching and educating others along the way. All in all, I will show you how big this money tree can get over time as I get the branches (Earn, Save, Invest) as high as possible…Click here to see my financial progress to date: How high is the Money Tree?
