Dollar cost averaging is like steroids for your money. The difference between doing it and not doing it is millions of dollars.

The concept of earning interest is extremely fundamental to living a happy life in any modern society. It’s as basic and important as having health insurance, knowing how to read and write, even having a job.

What most people don’t understand is that you’re always losing money. Every second that goes by you’ve lost money. Even if you’re absolutely dead broke, you’ve just become broke-er by doing nothing. This is because even if you’re not wasting your money, time will waste it for you. Every year, the cost of living rises 3.3%. Which is too small a number to notice day to day, but large enough to cut your real net worth in half every 20 years.

Put simply, 20 years ago, every dollar could buy you double what you can get today for a dollar. Said differently, if you can afford a $500k home today, then 20 years ago, with $500k, you could’ve purchased two of them.

Life is like going the wrong way on a moving escalator. Walk and you stay put. Stand still and you go backwards. To get ahead, you have to hustle. Or at least, your money has to hustle. You have to make your money make you money. Here’s how it’s done: investing.

The most basic style of investing is called dollar cost averaging. It’s a strategy that anyone anywhere can enact, without needing a financial advisor or a deep understanding of stocks. It’s a way for anyone to become a millionaire in their lifetime. Yes, anyone. It’s not as exciting as getting crypto-rich overnight but you’re chances of success are substantially higher.

Dollar cost averaging does, however, have one fatal flaw: it takes time. A lot of time. But if you’re young, in your 20s or 30s, that shouldn’t be a problem for you because if you’re young and in good health, then you’re rich in time.