A new story from Ric Edelman

Automatic TRANSCRIPT

Anyone who's looking for a payroll software that is easy to use user friendly and really offers everything that you need when it comes to something that's beneficial for your business visit us at patriot software dot com use promo code radio and get two months in a row free that's patriot software can you W. CBM Baltimore taking telephone calls here on the record of the show off the Purcellville Virginia we got David with us on the phone are you doing David hi Rick thanks for joining us on the show how can I help well I've got a question I've been asking myself for quite awhile that we all know that dollar cost averaging is the best way to periodically that money when you are adding to your portfolio but what do you do in retirement when you work now withdrawing money is there an approach that can take advantage of market volatility and not pound you when it goes the wrong way when your need periodic patrols yes and it's the exact same thing you just as dollar cost averaging tells you to invest a certain amount of money at a certain interval say invest a hundred dollars a week for fifty dollars a month or whatever the dollar amount and the interval need to be consistent that's how you add money to the markets you do the same thing when withdrawing money from the market to withdraw a thousand dollars a month every month like clockwork or you do it once a year you know take your entire allocation for the year on January first Miller's it doesn't matter the amount and it doesn't matter the interval what matters is consistency so you'll be doing dollar cost averaging in reverse and you'll get the same benefits as you get when you dollar cost average to invest so it's really that simple very very easy to do it seems counterproductive because when you're putting money in one dollar cost averaging you're buying more shares when the market.

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