..First, read this paper Enhanced Dollar Cost Averaging http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2008465The first section neatly discusses the problems with DCA, but summarises "Thus, dollar-cost-averaging may be inferior to the optimal strategy, but is superior to the strategy most investors are likely to adopt as a result of their human nature." I've also heard good things about value averaging. The Wikipedia entry for this dosn't say a lot but it has some interesting links at the bottom of the page that would be worth looking into. http://en.wikipedia.org/wiki/Value_averagingIt probably goes without saying but while you are deciding what to do you should be sure that the money is split up between multiple accounts and institutions so that you do not exceed the FDIC( or similar ) account insurance limits. Greg
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