We kick off today’s episode of the Rational Reminder by discussing when Ben will be publishing his new model portfolios and a quick look at some of our upcoming guests and resources you might want to take a look at. We have been on a roll with our guests lately, and we are certainly not slowing down anytime soon. From there, we look at some of the headlines, such as CDIC developments and the myths around inflation. Next, we move onto to listener rapid-fire questions. Some of the topics include the difference between leveraged ETFs and traditional ones as well as a small-cap investment strategy for an investor with a 30-year plus investment timeline. We then turn our attention to the core topic of the show, dollar-cost averaging versus lump-sum investing. Ben presents an overview of dollar-cost averaging along with some of the perceived benefits. We dive into his analysis of dollar-cost averaging versus lump sum investing in equity portfolios over select 10-year periods across various countries. We discuss the results based on a range of factors and variables. The crux of the argument is that dollar-cost averaging is not as compelling as it’s often sold to be. While there are psychological benefits, the empirical evidence shows that there are not real ones. We wrap the show up with a look at how the pandemic is likely to shape the annuities industry and retirement planning. Tune in today! Key Points From This Episode: Links From Today’s Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website - https://rationalreminder.ca/podcast/101 Prof. Kenneth French on Rational Reminder — https://rationalreminder.ca/podcast/100 Invest Like the Best — https://podcasts.apple.com/us/podcast/invest-like-the-best/id1154105909 Path-Dependence of Leveraged ETF Returns — https://www.math.nyu.edu/faculty/avellane/SIAMLETFS.pdf.pdf The Delisting Bias in CRSP Data — https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1540-6261.1997.tb03818.x How the coronavirus pandemic could change the way we think about retirement in Canada — https://www.moneysense.ca/save/retirement/planning-for-retirement-after-covid-19/ Covid-19, Longevity Risk & the Economics of Annuitization — https://moshemilevsky.com/covid-19-and-longevity-risk/ The Rational Reminder is presented as an educational resource and should not be construed as individualized investment advice, nor as a recommendation to buy or sell specific securities. The funds and portfolios discussed are examples only and may not be appropriate for your individual circumstances.