1) Dollar-cost averaging guards against these damaging animal spirits.

2) Some critics regard dollar-cost averaging, or automatically investing a fixed amount every month, as foolish.

3) Still, dollar-cost averaging does make sense, especially in volatile markets, which seem increasingly like the norm.

4) That's actually a good thing: investing monthly (called dollar-cost averaging) helps you even out the natural ebb and flow of investments that happens throughout the year.

5) This criticism, which basically says dollar-cost averaging is market timing in fancy dress, has some merit.

6) If you are patient and use dollar-cost averaging to smooth your way in, you will generally make good money over time.

7) You may learn about tax-deferred annuities, other retirement plans, dollar-cost averaging and so on.

8) But you sure could have used tools as time-honored as dollar-cost averaging, which would have led you to buy more shares when they were cheap and fewer when they were expensive.