Why dollar-cost averaging beats market timing

Dollar-cost averaging means investing a fixed amount on a regular schedule regardless of market conditions. Over 20+ year horizons, this approach consistently outperforms attempts to buy low and sell high because it removes the single biggest enemy of returns: emotion. When markets fall, your fixed contribution buys more shares. When markets rise, you participate without overcommitting. Pair this with low-cost index ETFs and you have a strategy that requires minutes per month and beats most active managers.