Hi there!
I am 43 years old and am embarrassed to admit that I have been guilty of committing the biggest faux pas…storing the majority of my money in savings accounts and CDs. I have always been aware that this is basically as useless as hoarding it under my mattress, yet (due to fear, feeling uneducated, complacency, etc) I’ve continued to do this decade after decade anyway
About two years ago though, I grew some balls and finally DID begin investing by opening up a Roth as well as a couple different taxable accounts within Fidelity and Vanguard. I have been maxing out my Roth each year, and have automatic investments set up with both brokerage firms ($500/week in Vanguard) and ($1500/month in Fidelity).
Even though I am now finally in the passive investment game, I still have waaaay too much money sitting in various savings accounts (roughly 70% of my net worth) doing nothing. I have read so many times that the best and most reliable investment strategy is to DCA, but then as I stated earlier, I am aware that holding this much cash is a terrible option. I feel like I’ve already spent way too much time on the sidelines, missing out. It makes me sick knowing how much my money would have grown these past two decades had I invested it instead of hoarding it.
So given the fact that I am now in my 40’s and sitting on all of this cash, should I still just slowly continue to DCA, or should I still DCA but ALSO play “catch-up” by throwing big chunks of my money into the market so it’s no longer just being eaten up by inflation?
Any other recommendations with what I should do with my cash are greatly appreciated too! (Side note: I have no kids, and zero debt).