Invested in Amazon
This morning I asked a question š
https://public.com/p/JYnpfnXUo4GHZxb8M4XRmoYpm4NvYSOH
But since I obviously canāt vote on my own poll , I figured Iāll give my opinion here šš¤£
Despite my predilection for dollar cost averaging every day ( #dcaeveryday ), I personally think a Biweekly or Monthly DCA is the sweet spot for me.
I canāt choose one over the other because It really depends on how volatile the stock is. If the stock is constantly moving (in either direction) thatās a stock that Iād like to invest small quantities into as often as possible BUT If the stock isnāt that volatile, Iām more likely to invest larger sums of money less frequently.
My daily $1 investments into Amazon is an extreme example, metaphorically speaking, itās like ātrying to eat an elephantā š
When trying to do something as absurd as eating a whole elephant itās best to take the advice of Italian monk, Saint Francis of Assisi:
āStart by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.āhttps://theintrovertentrepreneur.com/2010/04/21/how-to-eat-an-elephant/
My elephant is a $3,000 stock ( $AMZN ). In order to purchase a whole share of Amazon stock i quickly realized that it was necessary to start investing as soon as possible.
I could have sold all of my other stocks and purchased Amazon or emptied my savings account and purchased a share but that wasnāt wise. Instead of putting all of my eggs š„ in the $AMZN basket š§ŗ, I did the next best thing. I broke that investment into smaller chunks and discovered that investing $1 today was very possible
After I invested my first dollar, I kept investing 1 dollar a day, and eventually I realized two things.
1ļøā£ I realized that I was doing the impossible.
2ļøā£ I realized that it would take me 11 years to do what I thought was impossible #pocketchangeinvestments
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