Today’s stock market volatility has given extra urgency to one of the classic questions that every investor faces at some point.
Should you invest lump sums in the stock market whenever you have cash at hand, or set up a regular monthly savings account and drip feed the money instead?
Both have advantages and, inevitably, disadvantages, too. The decision partly depends on personal factors such as your attitude to risk, how much money you have at your disposal and market conditions at the time.
The appeal of investing a lump sum is that your money starts earning right away. Given that stock markets go up over time, the sooner you invest, the better.
Dino Ibric, vice director at Swissquote Middle East and Africa, says for those looking to generate maximum returns, lump sums beat regular monthly investments.
“When markets are rising, investing a lump sum means you take full advantage today.”
If you are investing in stocks that pay dividends, it also means you will generate income sooner rather than later.
Here is how that works. Say you invested a $100,000 lump sum into a global stock market tracker and it delivered an average total return of 6 per cent a year after charges. After 25 years, you would have $429,187.
If you invested your $100,000 over 25 years instead, putting away $4,000 a year, you would end up with $249,793. That is $179,394 less. The sum is much lower because most of your $100,000 is sitting on the sidelines in the early years. The last $4,000 you invest has a mere 12 months to grow.
That is the general principle. The practice is a bit more complicated. For example, anybody who put $100,000 into shares in February last year would have been sweating when stock markets crashed in March.
They could easily have found themselves down $35,000 within days, and nobody wants to go through that.
When markets are rising, investing a lump sum means you take full advantage today
Although they should have since recovered most of their losses and should end up well ahead after 20 or 30 years, it would not have been much fun.
Many fear that markets are vulnerable to another crash right now as Covid-19 lockdowns drag on and last year’s fiscal and monetary stimulus threatens to revive inflation. The recent sell-off in US technology stocks reflects concerns that interest rates hikes could curb growth.
Mr Ibric says drip-feeding money into the market will reassure risk-averse investors worried about investing at today’s record highs.
“It minimises the downside risk of a sinking stock market.”
A good option for those with larger sums, such as $100,000, would be to pay chunks into the market over the next six to 12 months, rather than 25 years.
That would protect you against a sudden crash – at least this year – while giving your money early exposure to the market.
Mr Ibris says you can further reduce risk by spreading your lump sum across different assets such as shares, bonds, cash and property, across several sectors and parts of the world.
“These assets should match your own personal circumstances, attitude to risk and how long you have to invest.”
In turbulent times, regular monthly investing offers one great advantage that you do not find with a lump sum.
You benefit from stock market dips as your monthly contribution will pick up more stock or investment fund units.
Time spent sitting on the sidelines is more detrimental to investment returns than market volatility
This process is known as dollar-cost averaging and Laith Khalaf, financial analyst at AJ Bell, says this gives you a smoother journey.
“It also takes the emotion out of investing. After you set up your monthly plan, you can more or less forget about it.”
Darius McDermott, managing director of Chelsea Financial Services, says if you invest monthly, remember to increase your contributions every year, in line with any salary increases, otherwise inflation will erode their value in real terms.
Somebody who invested $1,000 a month would have $697,877 after 25 years, assuming the same 6 per cent growth rate. However, if they increased their contributions by 3 per cent every year, they would have $931,991. That is $234,114 more.
“If your income falls at some point, you can always reduce your payments,” says Mr McDermott.
That kind of flexibility is vital. What you must not do is lock yourself into a regular monthly savings plan for a fixed term, such as 10 or 25 years, with punitive redemption penalties if you exit early.
You do not know what your income will be in future and need absolute freedom to change your mind.
While these types of contracts are less common than before, they still exist. Most are sold by offshore financial advisers and wealth managers and are aimed at unsuspecting expatriate investors.
Chris Keeling, chartered financial planner at The Fry Group, says investing regularly means you automatically avoid the temptation to time your entry into the market, something nobody can do with consistent success.
He says you should not try to time lump-sum investments either. If you pay a chunk of money into the market and it does crash, stay calm. Investors who panicked and sold last March would have banked a substantial loss.
“Those who weathered the storm were still able to make healthy returns in 2020,” Mr Keeling says.
He says investing for retirement is a long-term task, which gives you plenty of time to recover from setbacks.
“Time spent sitting on the sidelines is more detrimental to investment returns than market volatility.”
There is never a wrong time to invest, as long as you have the time to ride out market volatility, Mr Keeling says.
“Investing lump sums in rising markets and regular savings in falling markets is a good way to minimise volatility and maximise your overall investment returns.”
He also suggests taking financial advice from a qualified professional before making your investment decisions.
In practice, most people do not have much say in the matter. They invest every month because that is when their salary comes in. If you also pay in lump sums when you have money at hand, you might combine the best of both worlds. It is not often that happens in investing.
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Gulf rugby
Who’s won what so far in 2018/19
Western Clubs Champions League: Bahrain
Dubai Rugby Sevens: Dubai Hurricanes
West Asia Premiership: Bahrain
What’s left
UAE Conference
March 22, play-offs:
Dubai Hurricanes II v Al Ain Amblers, Jebel Ali Dragons II v Dubai Tigers
March 29, final
UAE Premiership
March 22, play-offs:
Dubai Exiles v Jebel Ali Dragons, Abu Dhabi Harlequins v Dubai Hurricanes
March 29, final
More from Rashmee Roshan Lall
WHAT ARE NFTs?
Non-fungible tokens (NFTs) are tokens that represent ownership of unique items. They allow the tokenisation of things such as art, collectibles and even real estate.
An NFT can have only one official owner at one time. And since they're minted and secured on the Ethereum blockchain, no one can modify the record of ownership, not even copy-paste it into a new one.
This means NFTs are not interchangeable and cannot be exchanged with other items. In contrast, fungible items, such as fiat currencies, can be exchanged because their value defines them rather than their unique properties.
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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Australia
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
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If you go:
Getting there:
Flying to Guyana requires first reaching New York with either Emirates or Etihad, then connecting with JetBlue or Caribbean Air at JFK airport. Prices start from around Dh7,000.
Getting around:
Wildlife Worldwide offers a range of Guyana itineraries, such as its small group tour, the 15-day ‘Ultimate Guyana Nature Experience’ which features Georgetown, the Iwokrama Rainforest (one of the world’s four remaining pristine tropical rainforests left in the world), the Amerindian village of Surama and the Rupununi Savannah, known for its giant anteaters and river otters; wildlifeworldwide.com
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2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
UAE currency: the story behind the money in your pockets
Origin
Dan Brown
Doubleday
LA LIGA FIXTURES
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
Real Sociedad v Osasuna (midnight)
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Cracks in the Wall
Ben White, Pluto Press
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
MATCH DETAILS
Juventus 2 (Bonucci 36, Ronaldo 90 6)
Genoa 1 (Kouame 40)
A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
Changing visa rules
For decades the UAE has granted two and three year visas to foreign workers, tied to their current employer. Now that's changing.
Last year, the UAE cabinet also approved providing 10-year visas to foreigners with investments in the UAE of at least Dh10 million, if non-real estate assets account for at least 60 per cent of the total. Investors can bring their spouses and children into the country.
It also approved five-year residency to owners of UAE real estate worth at least 5 million dirhams.
The government also said that leading academics, medical doctors, scientists, engineers and star students would be eligible for similar long-term visas, without the need for financial investments in the country.
The first batch - 20 finalists for the Mohammed bin Rashid Medal for Scientific Distinction.- were awarded in January and more are expected to follow.
More from Neighbourhood Watch
Basquiat in Abu Dhabi
One of Basquiat’s paintings, the vibrant Cabra (1981–82), now hangs in Louvre Abu Dhabi temporarily, on loan from the Guggenheim Abu Dhabi.
The latter museum is not open physically, but has assembled a collection and puts together a series of events called Talking Art, such as this discussion, moderated by writer Chaedria LaBouvier.
It's something of a Basquiat season in Abu Dhabi at the moment. Last week, The Radiant Child, a documentary on Basquiat was shown at Manarat Al Saadiyat, and tonight (April 18) the Guggenheim Abu Dhabi is throwing the re-creation of a party tonight, of the legendary Canal Zone party thrown in 1979, which epitomised the collaborative scene of the time. It was at Canal Zone that Basquiat met prominent members of the art world and moved from unknown graffiti artist into someone in the spotlight.
“We’ve invited local resident arists, we’ll have spray cans at the ready,” says curator Maisa Al Qassemi of the Guggenheim Abu Dhabi.
Guggenheim Abu Dhabi's Canal Zone Remix is at Manarat Al Saadiyat, Thursday April 18, from 8pm. Free entry to all. Basquiat's Cabra is on view at Louvre Abu Dhabi until October
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