Hi there, would you suggest investing using the Regular Savings plan for beginners?

Hi Anon, to your first question. I think RSPs are an alright investing strategy because it's automated for you where you don't have to worry whether the current time is a good time to invest, the RSP itself just DCAs for you.

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To your second question on the gradual increase of monthly investment amount: It is dependent on your cashflow. For example, if you have a child but get a pay raise, you may find yourself having to decrease your $500/month to say $300/month.

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On the flipside, you may have, God forbid, a pay cut but you've fully paid for your mortgage, in which case your cashflow may be higher and you can increase from $500/month to $800/month. It all depends on the cashflow. Don't over-invest because you may need the money for expenses and what-not.

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For dividends, if you have no need for dividends or the dividends are minuscule, you can have them reinvested. If you are looking for a good time, again it depends on you, maybe you want to have a good meal, a staycay or a trip for a weekend you can withdraw the dividends. It depends.

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One way people use dividends after accumulating a huge portfolio is to fund their retirement based on dividends!

Probably you should ask yourself how long is your investment horizon. Regular savings need a time frame, not like one year to start seeing the effect.

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If it doesn't affect your basic needs and you have spare cash, you will know when and where to put.

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The time to cash out money is when you need it. If not needed, just like what others mentioned, let the dividends DRIP