How can I automate my investments to make it easier to stick to my plan?

Automating your investments can be a great way to make sure you stick to your investment plan, especially if you have trouble remembering to make regular contributions. Here are some ways to automate your investments:

Set up automatic contributions: Many investment accounts, such as retirement accounts and brokerage accounts, allow you to set up automatic contributions. You can choose a specific amount to contribute each month, or you can set up a percentage of your income to be automatically contributed.

Use a roboadvisor: Roboadvisors are online investment platforms that use algorithms to manage your investments. You can set up automatic contributions and the roboadvisor will take care of the rest, including diversification and rebalancing.

Invest in index funds or ETFs: Index funds and exchangetraded funds (ETFs) are investment vehicles that track a particular index or sector. They are a great way to automate your investments because they are designed to be lowcost and lowmaintenance.

Use an investment app: There are several investment apps available that allow you to automate your investments. These apps typically use roundup features or recurring contributions to help you save and invest money without even thinking about it.

Remember, it's important to regularly review your investment plan and make adjustments as needed, even if you're automating your investments. Life and financial situations can change, and you want to make sure your investments continue to align with your goals and risk tolerance.