Quote Originally Posted by blackcap View Post
Mate, what happens if the correction in say 3 years does not drop the market lower than where it is now? Have a look at the chart of the DOW and you will see that it is very difficult to profit by "waiting" for a correction. Bull markets can last decades and you may be missing out on the biggest bull in History. You may not either but "waiting" for the market to fall is as dangerous as putting your money under your mattress.
Yes, there's a lot of truth in the old adage of "time in the market" being more important than "timing the market". The important bit is getting the stock selection "right". Stagger purchases over a period if uncertain as to timing - in a few years it won't matter much if the stocks are the right ones!