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Please Help! Who Knows about DCA?

Discussion in 'Investing Strategies' started by ClintBX, 8th Apr, 2015.

  1. ClintBX

    ClintBX New Member

    6th Apr, 2015
    Perth, WA
    Hi all,

    I'm planning to put my regular savings into dollar cost averaging type of investing.

    My plan is to save 20% of my income (fortnightly), have it automatically debited into an investment account of some sort and then invest what I save into indices or something and have that automated so I don't have to think about it and get on with my other plans in life.

    I've been having difficulty finding somewhere I can set that up.

    I set up a westpac investment fund only to find out that they don't have the facility for what I'm trying to do and I was in the process of filling out a vanguard application form until I got to the page about selecting one of their investment selections that stated I needed a $5,000 minimum.

    Who has the facility to allow me to do what I'm trying to do?
    Is what I'm trying to do even possible?
    And I have a low income, therefore I can't save very large chunks of money. Is this something that's even viable for me or is this out of my league?:confused:

    Please help me get the right information. The reason I like the idea of investing my savings as soon as possible is because it takes away the possibility of me drawing back from my savings which is a recurring issue for me. Once its tied up in an investment, then I can't touch or access it so easily.

    Help me guys. Who has the facility that will allow me to automate my savings into a dollar cost averaging investment strategy?