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you should probably have money invested.
Investing should not be not a one-and-done situation.
In ablog postedin January on Ramseys site, Ramsey Solutions, Ramsey discussedhow to automate your investing plan.
Johnson is 100% in agreement with Dave Ramsey in respect to automating investments.
Accumulating wealth over the long term is really not difficult strategically, Johnson told GOBankingRates.
Behaviorally, it is very difficult for many to stay the course in bear markets, Johnson said.
In addition, there are many ways to automate investing for retirement via apps, Johnson said.
One of thebiggest behavioral biasesthat humans succumb to is the bias toward immediate gratification over delayed gratification.
That is, our present selves tend to win over our future selves.
People should try and automate as many financial decisions as they can, Johnson said.
One must make saving money a habit.
And habits good or bad develop over time.
The biggest advantage of automatic plans are the behavioral underpinnings of the plans, Johnson said.
That is, once enrolled in anautomatic savings plan, people tend to stay enrolled.
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