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CBN, NMDPRA, Others Glean Insights on How to Win in Turbulent Times
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WKBT
April 25, 2021 6:45 AM newsfeedback@fool.com (Kailey Hagen)
Posted:
Updated:
April 25, 2021 10:35 AM
Good investing requires you to adjust your strategy in response to market changes. But when you’re a beginner, it can be difficult to figure out what your next move should be, especially in times like these. It’s nice to have a few tried-and-true principles you can fall back on. So I’ve highlighted three tips below that you can use to grow your wealth regardless of how the stock market is doing.
1. Try dollar-cost averaging
Dollar-cost averaging is where you regularly purchase a predetermined dollar amount of a certain security. For example, you might invest $100 in a stock every week or $500 every two weeks. If you automate your contributions, you can do this without even thinking about it.
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