[ffumarola]

I would agree for the most part with the exception of "At some point there will be a market crash and it will be a no-brainer to buy."

Timing the market is incredibly difficult. I'd just suggest setting up an automatic dollar cost averaging scheme into a fund mix of your choice and ignoring it from that point on. As long as you have a decent enough time horizon, you'll wind up well ahead.

[nicholas73]

I agree and disagree. I think legging into positions is a great way to ensure lower volatility and is a good for psychological discipline. However market timing works in the Buffett sense, when you make a purchase that immediately makes sense no matter (almost) what the asset price does after that. If you could hold forever, you'd simply make money off the dividends. Like buying a house - you can't lose due to price fluctuation (barring a ghost town event) if you planned to make money from rent. But if you bought hoping for capital appreciation, you could get really hurt.