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1. Link your checking or savings account with the investment vehicle of your choice whether it be an Individual Retirement Account or a standard account. All you need to do this is your bank account number and routing number and the investment provider can do the rest.
2. Choose the amount you want to invest on a monthly basis, most companies minimum is $50.
3. Choose a day of the month you want to have the money come out of your checking or savings account
4. Sit back and watch your money grow!

There are numerous benefits to setting up an automatic investment plan. First and foremost it allows you to take advantage of Dollar Cost Averaging which briefly means that you are buying more shares when the price is low and less when the price is high. Definitely a good thing. Secondly, you are putting in place a lifelong philosophy of paying yourself first. It may hurt in the beginning, but I promise after awhile you will not miss the dollars going into your investment account. Additionally, many investment companies will lower their investment minimums if you the investor commit to an automatic investment plan. As always, if you have questions shoot us an email and we will get right back with you.