I recently opened a Vanguard account with the goal of auto-investing 15% of every paycheck directly into VTSAX (shoutout to The Simple Path to Wealth).
I enabled direct deposit into my "settlement fund" which works as expected. I imagined it would be easy to auto-invest whatever is in my settlement fund every two weeks or even once per month, but Vanguard requires me to put in a specific dollar amount when setting this up - there's no option to just invest it all.
My paychecks vary, so there isn't a fixed amount that is being deposited every 2 weeks, meaning either:
- I have to set a conservative amount, so not all of my money is going to be invested and some will just sit in the settlement fund.
- I have to go in once or twice a month to invest the exact amount that is in my settlement fund, which defeats the purpose of all of this.
Has anyone else run into this?
original posted by yaboymolloy to r/personalfinance on Sat, 30 Mar 2024 15:59:55 GMT.