Dollar Cost Averaging When Taking Distributions
episode
DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing
14 min
3 speakers
2 chapters
transcribed 1 month ago
Transcript
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Hey, this is Allie, and thanks for listening to the show. Give us a five-star review where you listen and share this episode with someone who might need to hear it. Now, enjoy the show. Welcome back, ladies and gentlemen. You're listening to another edition of DL1 Money. DL1 Money. Watch out, Logan.
Oh, Quint. Oh, Logan. I got the puppy.
I know you did.
I got the puppy.
And how's it going? You're in the honeymoon stage. I'm working a lot.
Actually, I haven't seen her. He or her? He. Okay. He, his name is Banjo. But he's great. He's actually been pretty well trained the first eight weeks. He's pretty good at potty. Although, I got a text from my wife this morning that said, disaster in our bedroom. It's happening.
Yeah. It's happening.
Not great. I said no.
All right, and you're getting ready to leave for a few days. And I'm going to be gone for a few days. My wife is going to kill me.
Yeah, that's great. Well, I advised against said puppy, did not take my advice or guidance. But, you know, that's okay because I had a dog too when I was about your age. Some things you just got to learn the hard way. And I was like, why did I do this? I mean, I love the dog, but this was a terrible, terrible decision. But, yeah, I mean, you live and learn. It is what it is. Live and learn. No problem. All right. Well, let's go right into our housekeeping odds and ends and then get to our question because today we got a good one. So housekeeping odds and ends. This podcast brought to you by Jewel Financial, J-O-U-L-E financial dot com. Visit us on the Web. If you have a complex situation or a problem that maybe not a problem.
Be a problem? We don't want problems. Difficult situation. Anyways, you need a second opinion, an advisor, hit us up. Love to chat with you. If you have a problem, seek other guidance. I don't know. Let's pause briefly for our sponsors. We need questions. Keep sending these great questions. Questions are on the rise. I really like that. They're on the come up, I would say. Do kids use that word still? Come up? No. No? That was a shoot. Who was that? Who did that? I'm on the come up. Anyways, okay. Yeah. The guy who wrote not the thrift shop song, Macklemore. That was his word, wasn't it? Okay, but he's old. He's old now? All right. I'm getting nothing here. Let's go to our question. Brittany, what do you got?
D-I-Y.
Hey, DIY Money. This is Brittany from the Bay Area. I have a question about dollar cost averaging. So I'm familiar with it being used for investments, but I was wondering if you'd recommend applying dollar cost averaging to withdrawals as you get closer to and then eventually enter retirement. I guess I was thinking that you would spread the price at which you're withdrawing. So you might in theory... decrease the chance of accidentally withdrawing large amounts at bad times in the market when the price has dipped down. But yeah, can't wait to hear what you guys think. Thanks so much.
Okay, first of all, love the Bay Area. Fun fact, I worked a summer. Brittany will like this. I worked one summer between my freshman and sophomore year. My goodness, it was ages ago. In Embarcadero Center, right off the Bay Bridge. And what I would do, I had the greatest... like day ever. I would wake up. I stayed at a family member, uh, who lived in Marin, which was across the, uh, you know, across the golden gate and across that, that area over there, uh, beautiful area. And I would park, there was this like parking, uh, on the, I guess, um, what is the golden gate cross? I don't even know. Anyways, that's gonna, that's gonna bother me. Cause it's a, probably a simple answer. I'm gonna look really dumb.
It crosses water. Everybody knows that. Jeez.
But anyways, I would park, and then I would hop on this ferry, and I would grab a cup of coffee. There was newspapers at the time. I know that's a weird thing, but I'd read my newspaper, and I'd take the ferry across to the Embarcadero Center, and then I would go to work. And then after working, I would get on the ferry, and I would go home. It was awesome. It was amazing. That does sound like a pretty cool – It was great.
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