Asked 4d ago
The DBS agent mentioned that we can only put in a constant amount of money every month. Is that fine? I was thinking of doing dollar cost averaging every month and put in different amount depending on the prices but RSP doesn't allow for this if I want to maximize my multiplier account. Is it still okay to go with a constant amount every month?
Constant Dollar Amount is good for RSP.
Say prices go up, you buy fewer units with a fixed $200. Your current assets rise in price anyway, so not a bad thing.
Prices go down, you buy MORE units with the fixed $200. Your current asset dropping in price, but you are averaging per month.
May not sound like much, but do it regularly monthly for a few years, you will appreciate the consistent investments that add extra growth.
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