I agree. My income was very erratic, I was not on a salary, it was a percentage of firm profits. My income varied as much as 4-500% from month to month and and 200% from year to year. I couldn't set up automatic investing of a fixed amount of $x,xxx each pay period.With mobile apps and biometric authentication the overhead to investing has become really quite small. Automatic investing can eliminate the final overhead IF you have a somewhat regular income stream. If your statement about having funds available means you have an irregular income stream then automatic investing may not work for you as well.From past 4 years I was randomly investing in VTSAX whenever I had funds available, wasn't timing the market.
When I was paid a straight salary every two weeks it was easy to set up an automatic plan which invested the day the money hit my account. Now that we (me and spouse) have commission/bonus/rsu income to manage as well it's only partially automatic. There is some manual top up once we get the irregular periodic money that happens. In all cases I advocate as much as possible to invest the money as soon as you have it. It doesn't matter the day or time of day/month, just get it in there as soon as it hits your checking account so it has the best chance to start growing.
So each pay period I invested everything not required for the next month's spending needs. I invested whenever I had funds available to invest in whatever amount I had available.
Statistics: Posted by ruralavalon — Wed Jul 31, 2024 10:12 am — Replies 26 — Views 1479
