About 2 weeks ago I cashed out a mutual fund. It was a gift from my dear departed grandfather, and over the course of many years it had matured to a nice, low-five-figure number. But I always hated the high carrying costs, and I wanted to consolidate some of my non-401(k) investments into one place, so I planned to sell the fund, take the cash, and roll it over into my low-cost Vanguard account.
I sold the shares just before this little market plunge about 10 days ago. In the time it took for the money to clear into my checking account, the DJIA is down 2,200 points, and I'm not sure what to do. I know the Mustachian thing to do is buy investments "on sale." But something is holding me back, and I guess I'm unsure about the best strategy. Is it better to put a big chunk of cash back into the market now, or should I wait? Another idea: should I buy a little extra each week (as I do already, out of my biweekly paycheck), to amortize the gain / loss?
I should add that I have a solid emergency fund already, so the basics are well covered. I want to put this money back to work, but I'm a little gun-shy at present. What's the smartest way to invest a little extra cash right now?
