Author Topic: Best day of the month to add to your IRA account  (Read 2153 times)

purple monkey

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Best day of the month to add to your IRA account
« on: June 06, 2015, 08:56:22 PM »
Hi wise ones,
If I can do a monthly withdrawal from my checking to my IRA, is there a better date that you have found that buys funds at a bargain.
Please no responses about timing the market.
I am setting up my account in a few days and wanted to know if anyone has found any date that works better.
TIA!

MDM

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Re: Best day of the month to add to your IRA account
« Reply #1 on: June 06, 2015, 09:20:32 PM »
Hi wise ones,
If I can do a monthly withdrawal from my checking to my IRA, is there a better date that you have found that buys funds at a bargain.
Please no responses about timing the market.
I am setting up my account in a few days and wanted to know if anyone has found any date that works better.
TIA!
The 1st, because on average the market goes up so in general the earlier one buys the cheaper one buys. 

Note that while this answer is somewhat tongue-in-cheek, there is evidence to back it up.  See http://www.businessinsider.com/lump-sum-vs-dollar-cost-averaging-2014-12.

seattlecyclone

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Re: Best day of the month to add to your IRA account
« Reply #2 on: June 06, 2015, 09:26:12 PM »
There's no reason to expect that stocks would always go down on a particular day of the month. Any such pattern, if it ever did exist, would have been noticed by enough other investors that it would not be allowed to continue.

waltworks

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Re: Best day of the month to add to your IRA account
« Reply #3 on: June 06, 2015, 09:31:11 PM »
Please no responses about timing the market.

ROFL.

Smokeydave

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Re: Best day of the month to add to your IRA account
« Reply #4 on: June 06, 2015, 09:42:02 PM »
I do it on the 15th because that is when the funds are available!

slugline

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Re: Best day of the month to add to your IRA account
« Reply #5 on: June 06, 2015, 11:21:01 PM »
I believe what you really want is called an employee stock purchase program.