I’ve written of exchange traded funds (ETFs) on several occasions, and I’ve spoken to why they may be a good option. If you want to learn more check it out here.
Another topic, and strategy to investing is called dollar cost averaging which is when you purchase a certain fund or stock regularly over a long period of time to retain the best price. You’ll buy it at the lowest & highest points naturally.
Dollar cost averaging ETFs is a very sound philosophy however commissions can quickly ruin this method as they’re different than mutual funds which you can contribute to regularly without paying the commission.
However, we’re in luck.
I did some quick searching around and I discovered there are brokers who offer commission free ETFs. (Canadian) I’m sure there are plenty in the States too, just do a quick google search!
- Scotia Itrade offers 50 ETFs you can purchase completely free. I’ve recently setup an account here for this exact purpose. It’s awesome. Here’s the link.
- Questrade – you can buy any North American listed-ETF, including Questrade Smart ETF™ absolutely commission-free. Here’s the link.
These two options will allow you to purchase t exchange funds as often as you please with any amount of cash. This opens the door to anyone who wants a secure, efficient method to investing. Don’t worry about timing the market or losing cash. If you’re in an American or Canadian economy ETF for the long haul; you’ll be just fine. If you only have 50 dollars or even 30 (depending on the price of the fund) you can invest it which is great! Gotta start somewhere.
Hope this is helpful, be well friends.