Build a stock market portfolio that will provide you a dividend check every week of the year. All it takes is twelve companies that pay a dividend. Twelve companies to receive dividend checks every week of the year, for the rest of your life. Whether you find that goal worth the effort, bare in mind the only thing that comes without effort is old age.
She owned a house and land which was left specifically to her heirs. My cousin has been living in the house and ignoring needed maintenance. The house looks like a junk yard with overgrown landscaping, trash and old cars. There are over $5,000 dollars of fines pending from city inspections.
Regular investment plans can also help you manage your monthly cash flow. You will know exactly how much will be withdrawn and on what day of the month. You can also increase or decrease your contributions, at no cost, should the need or opportunity arise.
Contributing on a regular basis also allows you to benefit from what experts call "dollar cost averaging". This means your regular contribution buys more mutual fund units when the price is low, and fewer when the price is high, helping to reduce the average price you pay per unit over the long term.