If you need a hand sticking to your investing goals and want to auto invest, Superhero has a new feature for you.
From today, Superhero users will be able to set up recurring orders to keep you and your investments on track.
You can use the recurring orders feature to regularly invest in your favourite company or ETF. This ensures that you’re adding to your portfolio over time.
Why set up recurring orders?
While we all have goals in life, we can sometimes lose sight of them when life gets busy. Whether it’s running a marathon or learning to play piano, it takes time and consistent effort to achieve the things we want. Investing is no different.
Even if you know how you want to invest, we can sometimes become distracted by market movements. Studies show that we can’t predict when the best time to buy and sell is going to be. Hence the belief that ‘time in the market’ is more important than trying to ‘time the market’.
However by investing regularly over a long period of time – sometimes called Dollar Cost Averaging – you can harness the power of compound interest. Consider the following example.
Imagine you were to invest $250 a week over 20 years. Assuming a 9% rate of return – the historical 30-year return of Australian shares – then you could expect your $260,000 to grow to more than $665,000 over those two decades. That’s a serious amount of wealth achieved by simply investing regularly over the long term (although past performance is not necessarily indicative of future performance.)
In that sense, recurring orders can help you remain disciplined no matter what the market throws up and to ensure you’re always moving towards your goals.
The best part? Once you’ve set them up, you won’t have to lift a finger.
How to auto invest using recurring orders
Step 1: Log in to your Superhero account and find your stock or ETF in the Invest tab.
Step 2: Hit the ‘Buy’ button and select ‘Recurring Order’.
Step 3: Select how much you wish to invest and how often you wish to buy.
If you want to check, edit or delete recurring orders, you can find them in your dashboard.
You’ll just need to ensure that you have enough money in your trading account to make each trade. To ensure you do, you can set up auto-deposits.
How to set up up auto-deposits with Superhero
Step 1: Check your Wallet for your individual BSB and Account Number.
Step 2: Log in to your own bank account and set up your Superhero account as a payee.
Step 3: Schedule deposits to go into your trading wallet before each recurring order
Now you can rest easy knowing your money is working for you while you get on with more interesting things. Like learning that Beethoven sonata.
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